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...

Gross Says Give It Up for Machine

Donation to Smithsonian Recognizes ‘Critical’ Tool of Finance IndustryBill Gross didn’t invent the Bloomberg terminal.

By Jane Yu June 8, 2015 midnight   $$ Share
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Disneyland Exemption, Expansion on Anaheim Agenda

Walt Disney Co. is proposing a $1 billion expansion at its Disneyland theme park in Anaheim that would include new attractions, parking and other infrastructure improvements – and it wants a tax break in exchange.

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Johnny Rockets to Poland

Aliso Viejo-based Johnny Rockets said Warsaw-based HDS Polska Group plans to open 10 Johnny Rockets over the next 10 years in Poland.

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Franchisee Switch for Johnny Rockets in UAE

A Dubai-based private equity firm bought 14 Johnny Rockets franchised restaurants in the United Arab Emirates from the franchisee group that runs them.

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RichUncles Gets $3M Loan

Newport Beach-based real estate investment trust RichUncles LLC has received a $3 million loan from Pacific Mercantile Bank in Costa Mesa.

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Cianna Medical Raises $4M

Aliso Viejo-based Cianna Medical Inc. has raised $4 million, according to a U.S. Securities and Exchange Commission filing.

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Sabra Spends $234M for Nursing Homes

Irvine-based Sabra Health Care REIT Inc. said today that it bought four nursing homes in Maryland for $234 million.

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Chapman Ups Forecast on OC Jobs

Orange County’s economy is expected to add about 47,000 jobs through this year and another 41,000 in 2016, according to an updated estimate by Chapman University’s Argyros School of Business and Economics.

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Juice It Up to Add NM Units

Irvine-based Juice It Up said Albuquerque franchisee It Takes Two LLC plans to add two locations in New Mexico.

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UCI Humanities Gets $2.7M Mellon Grant

The University of California-Irvine has received $2.7 million from the New York City-based Andrew W. Mellon Foundation to broaden access to its Ph.D. program in Humanities by providing funding for tuition and teaching fellowships.

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Hyundai Giving Final $2M Installment of Cancer Grant to CHOC

Fountain Valley-based Hyundai Motor America and its nonprofit, Hope on Wheels, will present a final $2 million installment of a $10 million research grant to Children’s Hospital of Orange County on Thursday.

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Alliant Gets New PE Investment

Alliant Insurance Services Inc. has received “a significant equity investment” from Stone Point Capital LLC, which now is the largest shareholder of the Newport Beach-based insurance brokerage firm.

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Ingram Micro Buys Two Companies

Santa Ana-based Ingram Micro Inc. has acquired two companies that add to its higher-margin and growing recycling and mobile services business.

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World Poker Tour Sells for $35M

Irvine-based WPT Enterprises Inc., which runs the World Poker Tour, has been acquired for $35 million by one of China’s largest gaming companies.

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Anna’s Linens to Liquidate Inventory

Anna’s Linens Inc. in Costa Mesa has started what it describes as a going-out-of-business sale at its 252 retail locations throughout the U.S. and Puerto Rico.

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OC Adds Jobs But Unemployment Up

The unemployment rate in Orange County ticked up in May despite an increase of 13,000 jobs.

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Ad Agency Spinoff Gets $2.15 Million

Founders of the Column Five Inc. ad agency said they have secured $2.15 million in seed money to grow their side endeavor, Visage Inc. in Irvine.

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FDA Clears Edwards Sapien 3 Valve

The Food and Drug Administration Wednesday approved Irvine-based Edwards Lifesciences Corp.’s Sapien 3 less-invasive heart valve.

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Allergan Adds to Aesthetics Line

Allergan Plc will buy Westlake Village, Calif.-based Kythera Biopharmaceuticals Inc. for cash and stock valued at $2.1 billion.

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Fisker to Open Moreno Valley Plant

Costa Mesa-based Fisker Automotive and Technology Group said in a press release that its first U.S manufacturing plant for the relaunch of the Karma hybrid electric car will be in Moreno Valley.

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Ingram Acquires Saudi Arabia Reseller

Santa Ana-based Ingram Micro Inc. has furthered its reach in the Middle East by acquiring the assets of Arabian Applied Technology, the largest value-added reseller in Saudi Arabia.

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Irvine-Based Software Maker Raises $6.5M

Irvine startup Connectifier has raised $6.5 million in a Series A funding round led by True Ventures in Palo Alto.

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Habit Readies First Florida Location

Irvine-based Habit Restaurants Inc. plans to open its first restaurant in Florida on June 24 in Delray Beach.

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Anna’s Linens Files for Chapter 11

Anna’s Linens Inc. in Costa Mesa filed for Chapter 11 bankruptcy protection on June 14 with the U.S. Bankruptcy Court, Central District of California.

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Standard Pacific to Combine with Ryland in $5.2B Deal

Irvine-based Standard Pacific Corp. said it would combine with Westlake Village-based Ryland Group Inc. in a deal valued at $5.2 billion, which news reports said would create the fourth-largest homebuilder in the U.S.

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Glaukos Sets IPO Terms

Laguna Hills-based device maker Glaukos Corp. has officially opened its upcoming initial public offering, according to a federal filing.