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

‘Will Over Skill’

Mortgage Firm Co-Founder Explains Drive to SuccessPatty Arvielo is unapologetic about her success as co-founder of Tustin-based New American Funding.

Chipotle Moving to Newport

Chipotle Mexican Grill is moving to Newport Beach.

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DPW Buys Israeli Firm

Newport Beach-based DPW Holdings Inc. (NYSE American: DPW) said subsidiary Coolisys Technologies Inc. bought Enertec Systems 2001 Ltd. of Israel for $4.8 million.

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Real Mex for Sale

Real Mex Restaurants Inc.’s owners seek to sell the chain and have hired investment bank Piper Jaffray to unearth a buyer, according to Bloomberg. The chain’s second bankruptcy filing in seven years could precede a transaction, the report said.

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OC Unemployment Drops to 2.6%

Orange County’s unadjusted unemployment rate fell to 2.6% in April from a revised 2.8% in March and below the 3.4% reported a year earlier, according to the state’s Employment Development Department.

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FDA Sets Evolus Back

Irvine-based Evolus Inc.’s stock (Nasdaq: EOLS) have taken a rollercoaster ride this week. Shares earlier buoyed by news of its new chief executive dove today when it gave updates related to the regulatory progress on the pending approval of its drug candidate DWP-450.

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Cloudvirga Raises $50M

Irvine startup Cloudvirga today announced it closed a $50 million Series C funding round led by private-equity firm Riverwood Capital in Menlo Park.

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Lazy Dog Adds Chicago

Lazy Dog Restaurant & Bar in Huntington Beach said it will add one location in Illinois—a new state for the casual dining chain—one more in Texas, and two more in its California backyard.

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Commercial Bank of California Goes Private

CBC Bancorp (OTC Pink: NCAL), the parent company of Irvine’s Commercial Bank of California, has gone private and will no longer trade on the stock market.

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$83M Investment in Clean Energy

Shares of Clean Energy Fuels Corp. surged after the Newport Beach company said it received an investment and launched a new leasing program for natural gas heavy duty trucks.

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Allergan Appoints New Aesthetics Head

Allergan Plc named Carrie Strom as senior vice president of U.S. Medical Aesthetics, reporting to Chief Commercial Officer Bill Meury.

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Alteryx Beats Q1

Analytics software maker Alteryx reported first quarter revenue and operating income that beat Wall Street expectations.

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Acorns Wins BlackRock Backing

Irvine-based Acorns Grow Inc. won a major endorsement from BlackRock Inc. (NYSE: BLK), the world’s largest asset manager, with $6.3 trillion.

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Magic Morning in Irvine

Seventeen years ago Orange County United Way President Sue Parks cofounded The Women’s Philanthropy Fund within the nonprofit.

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Disney Parks Shine On

Walt Disney Co.’s parks and resorts unit, which includes Disneyland Resort in Anaheim, reported quarterly revenue of $4.9 billion, up 13% year-over-year, and operating income of $950 million, up 27%.

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Evolus Taps Allergan Exec

Evolus Inc. named David Moatazedi president and chief executive. He comes from Allergan plc, where he was most recently senior vice president of U.S. medical aesthetics.

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El Pollo Loco Revenue Up, Beats Street

El Pollo Loco Holdings Inc. (Nasdaq: LOCO) in Costa Mesa said revenue in its most recent quarter grew about 1% year-over-year to $101 million and net income declined 49% to $2.5 million; pro forma net income, a non-GAAP measure, increased 9% to $6.7 million.

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Blizzard Posts Mixed Q1

Presales for Blizzard Entertainment Inc.’s next World of Warcraft expansion helped boost revenue in the first quarter, though operating income decreased as it rolled out new business lines.

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Del Taco Revenue Up, Net Income Down

Del Taco Restaurants Inc. (Nasdaq: TACO) in Lake Forest said revenue increased about 7% to $113 million and net income fell 24% to $3.2 million in its most recent quarter.

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Yogurtland Adds in Dallas

Irvine-based Yogurtland signed current franchisee Yang Group to expand the chain in Dallas-Fort Worth with up to eight locations over the next three years.

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Taco Bell Sales Up, Profit Down

Irvine-based Taco Bell Corp.’s system-wide sales grew 4% to $2.34 billion and operating profit declined 6% to $132 million in its most recent quarter.

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Franchiser Names Development Chief

Home Franchise Concepts promoted Jonathan Thiessen to chief development officer, a new position. He was previously vice president of franchise licensing.

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Habit Sales Up; Earnings, Comps Down

Habit Restaurants Inc. reported about $92 million in revenue for its most recent quarter, up 17% year-over-year. Net income plunged 61% to $700,000.

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Allergan Considers Options

Allergan PLC Chief Executive Brent Saunders told investors on Monday that the company is evaluating a range of strategic options, including “splitting the company.”

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CoolSys Buys Georgia Company

CoolSys, a Brea-based refrigeration and heating company, said it bought Axiom Energy Solutions of Savannah, GA.

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Auto Sales Decline

Orange County automakers’ sales dropped in April, and only two—Mazda Motor of America Inc. and Mitsubishi Motors N.A. Inc.—are up for the year.

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