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...

Two Freedom Shareholders Press for Receivership

Two investors who helped Aaron Kushner and Eric Spitz finance the purchase of Freedom Communications in 2012 have asked the Delaware Chancery Court to put the media company’s operations into receivership, claiming “it needs independent oversight because the company is insolvent and in financial distress from mismanagement,” according to the website Law360.

By Mediha DiMartino November 6, 2014 11:52 a.m.   Share
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OC Adds 9,000 Jobs, Unemployment Rate Steady at 5%

Orange County added 9,000 jobs in November, continuing a streak of monthly job gains since a dip in August.

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Sanuk Founder Leaves for Tea Brand

Sanuk USA LLC founder Jeff Kelley said he will “transition from an active role” at the Irvine-based footwear brand by the end of the year.

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Wet Seal Revises Loan Terms With BofA

Wet Seal Inc. said it amended its loan terms with Bank of America N.A. and will now provide reports on the value of its assets to the lender on a weekly basis instead of once a month as previously agreed.

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Sanuk Founder Leaves for Tea Brand

Jeff Kelley, founder of Sanuk USA LLC, said he will “transition from an active role” at the Irvine-based footwear brand by the end of the year.

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Wet Seal Revises Loan Terms With BofA

Wet Seal Inc. said it amended its contract with Bank of America N.A. and will now provide reports on the value of its assets to the lender on a weekly basis instead of once a month as previously agreed.

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Brand Affinity in BK, Seeks Bidder

Brand Affinity Technologies Inc. has hired Irvine-based GlassRatner Advisory & Capital Group LLC to find potential bidders to acquire the cash-depleted advertising and social media company, according to a filing in bankruptcy court.

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Device Maker Insightra Raises $12M

Irvine-based Insightra Medical Inc. has raised $12 million in a pair of fundings, according to a regulatory filing.

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Yard House Sales Up 3.7%

Irvine-based Yard House saw quarterly same-store sales increase by 3.7% year-over-year according to the most recent report from its parent company, Darden Restaurants Inc., in Orlando, Fla.

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Actavis to Trim Allergan Executive Ranks

Actavis PLC said today it plans to replace most of the top executives at Allergan Inc. with its own personnel when its $68 billion acquisition of the Irvine-based drug maker closes next year.

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Juice It Up Taps VP for Growth

The parent company of Irvine-based Juice It Up said it hired Laina Sullivan as its first vice president of business development, with duties to include franchising, site selection and lease negotiation.

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Versant Closes $305M Fund

Healthcare-focused venture capital firm Versant Ventures has raised $305 million for its latest fund.

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WD’s Former Hitachi Unit in Buy

A San Jose-based unit of Western Digital Corp. has acquired a maker of solid-state storage systems used in scaling cloud and enterprise data centers.

HK Buyer Adds Hotel at Gate of Disneyland Resort to OC Portfolio

REAL ESTATE: Renovation seen for 300-room Anaheim Plaza

A 300-room hotel across the street from the Disneyland Resort in Anaheim is expected to see a major renovation following its sale to a Hong Kong-based investor.

2014 in Review: Big Deals, Doings

My, how you’ve grown. What else to say about Orange County’s business landscape over the past year?

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

CT Realty to Riverside for $25M Industrial Project

5-Building Project Part Of $120M JV With Prudential

CT Realty is moving ahead on a $25 million industrial project in Riverside in the first deal the Aliso Viejo-based developer has made with a large institutional investor it recently partnered with.

New Yorker’s OC Junket Puts Jannard in YouTube Picture

Much of this week’s issue is dedicated to a look back at 2014, which has proved to be a remarkable year in many respects for the community of business in Orange County (see overview, page 1; coverage by industry, pages 5 through 18).

Bixby Seeks Creative Gem at Jewelry Brand’s Old HQ

REAL ESTATE: Plan for Tustin office continues trend

Bixby Land Co. is set to undertake its largest creative-office redevelopment project in Orange County to date at an industrial building in Tustin.

2014 Year in Review: Healthcare

We picked the veteran chief executive of Irvine-based Allergan Inc. as a the person to watch for a number of reasons, including the expectation of new products and his pick of a clear No. 2 executive in Douglas Ingram, Allergan’s president.

2014 Year in Review: Real Estate

Orange County’s biggest landlord grabbed more than its share of headlines this year, confirming our choice of Doug Holte, who heads the office properties division for Irvine Company, as 2014’s person to watch for real estate.

2014 Year in Review: Finance

Gross made the biggest people-on-the-move news in the finance industry this year, leaving Pacific Investment Management Co. for much-smaller rival Janus Capital Group.

2014 Year in Review: Hospitality

Our prediction of a healthy year for local hotels proved accurate. Our person to watch was Ralph Grippo, president of Irvine Company Resort Properties.

2014 Year in Review: Retail

The Quiksilver Inc. boss continued to reshape the operations of the brand, which once again struggled despite its heritage as a pioneer of the surfwear sector.

2014 Year in Review: Restaurants

We said to keep an eye on Irvine-based Taco Bell Corp. Chief Executive Greg Creed as he began overseeing the brand worldwide in January.

Coastal Communities Boast Solid $10M+ Sales Year

2014 Appears To Eclipse Luxury Sales Last Year

Orange County’s coastal region is as renowned for its sophisticated yet laid-back vibe as it is for its captivating scenery.