Orange County Business Journal

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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Pimco Hires Ex-White House Adviser

Newport Beach-based Pacific Investment Management Co. has tapped former White House economic adviser Gene Sperling as a consultant on U.S. economic policy.

By Jane Yu January 16, 2015 11:02 a.m.   Share
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Western Digital Beats Expectations

Irvine-based storage products maker Western Digital Corp. after the close of trading today reported revenue and adjusted profits for the December quarter that beat Wall Street expectations.

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OC Auto Sales Up 6.8% in 2014

Auto sales rose 6.8% in Orange County last year, and are expected to increase 4.1% this year, according to the Orange County Automobile Dealers Association.

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USGI Medical Gets $19.5M

San Clemente-based USGI Medical Inc. has raised more than $19.5 million from equity and debt investors.

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Allergan Sets Meeting on Actavis Deal

Irvine-based Allergan Inc. has set a March 10 special meeting to get shareholder approval of its acquisition by Actavis PLC in a cash-and-stock deal currently valued at about $70 billion.

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Western Digital in VC Investment

The venture capital arm of Irvine-based Western Digital Corp. co-led a $29 million funding for memory products maker Everspin Technologies Inc.

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Q4 Profit Up for Opus

Irvine-based Opus Bank reported $12.6 million in fourth-quarter profit, up 76% from the same time a year earlier.

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SJC Big Data Firm Raises $10.8M

San Juan Capistrano-based search engine Maana Inc. has raised $10.8 million, according to a recent filing with the U.S. Securities and Exchange Commission.

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Ketchum Pays $10.3M for Eye Care Digs

Fullerton-based Marshall B. Ketchum University paid $10.3 million for an 88,000 square foot building on La Palma Avenue in Anaheim and will move its University Eye Center there, the school said.

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Pac Merc Swings to Profit

Costa Mesa-based Pacific Mercantile Bancorp swung to a profit in the fourth quarter, logging $390,000 in net income compared with a loss of $14.8 million in the year-earlier period.

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Jobs Grow, Unemployment Falls to 4.4%

Orange County businesses added 33,500 jobs in 2014, up 2.3% to 1,515,300 jobs.

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El Pollo Loco a Takeover Target?

Costa Mesa-based El Pollo Loco Holdings Inc. has been mentioned as a possible takeover target after news reports that a Philippines-based restaurant company is shopping for a U.S.-based regional fast food chain worth at least $1 billion.

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Microsemi Earnings In-line Q1, Tempers Q2 Outlook

Aliso Viejo-based chipmaker Microsemi Corp. reported revenue and adjusted profits for the December quarter in line with Wall Street with estimates but provided a sales outlook for the current quarter below Wall Street expectations.

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City National Sold For $5.4B

The parent of City National Bank has been acquired by Royal Bank of Canada for $5.4 billion.

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Opus Buys Escrow Company

Irvine-based Opus Bank has agreed to pay $25 million for Commerce Escrow Co. and its affiliate business RPM Investments Inc.

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Janus Confirms Gross Put Own Money Into Fund

Janus Capital Group Inc. Chief Executive Dick Weil confirmed that Bill Gross has put more than $700 million of his own money into the Janus Unconstrained Bond Fund, which Gross manages.

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Del Taco to Enter N.J.

Lake Forest-based Del Taco LLC said it will begin franchising in New Jersey, its first restaurants in the Northeast U.S.

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Profit Up for CalFirst

Irvine-based California First National Bancorp posted $3.6 million in profit for the three months ended Dec. 31, up 63% from the same period a year ago.

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Acacia Shares Drop on Patent Ruling

Shares of Acacia Research Corp. dipped sharply after the company received an unfavorable ruling on patent infringement claims it made against some large technology companies.

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Pacific Premier Profit Up for 2014

Irvine-based Pacific Premier Bank had $16.6 million in net income last year, an 85% increase from 2013.

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Alliant in $300M Deal to Buy QBE Units

Newport Beach-based Alliant Insurance Services Inc. has agreed to pay about $300 million to acquire QBE US Agencies, the U.S. operations of Sydney, Australia-based QBE Insurance Group Ltd.

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San Clemente Auto Software Firms Buys Marketer

San Clemente-based automotive customer service firm DealerSocket Inc. has acquired DealerFire, a web design and digital marketing firm in Oshkosh, Wis.

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9 Builders Tapped for 2nd Great Park Home Site

Irvine-based Standard Pacific Corp. is the lone locally-based homebuilder tapped to build homes at Beacon Park, the second community planned for the Great Park Neighborhoods.

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Sunstone Gets New CEO

Sunstone Hotel Investors Inc. president John Arabia has been appointed chief executive of the Aliso Viejo-based company.

Maseeh in Middle; Plenty of Ties to Presidential Timber

What does St. Margaret’s Episcopal School have in common with UCI, USC, MIT and Portland State University?

Lincoln Properties Buys Biggest Office in Los Al

REAL ESTATE: 2 buildings, 150,000 SF on 10 acres

The local office of Dallas-based Lincoln Properties Corp. has bought the largest office property in Los Alamitos.