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

20 Years of Job Changes Crunched

ECONOMY: More now in health, business servicesSocial workers and business consultants were the biggest job winners in the past two decades in Orange County.

OC Jobs Drop as State Rises

Orange County lost 10,100 jobs in July while California added 46,700, according to the state’s Employment Development Department.

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Alorica Hires 4 C-Suite Execs

Alorica Inc., an Irvine-based outsourcing company with 100,000 employees, said it hired several high-level executives: Chief Financial Officer KJ Tjon, who replaces Cindy Fiorillo; Chief Operating Officer Greg Haller, and Chief Information Officer Steve Phillips.

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Photo Prints E-commerce Co. Buys Again

Huntington Beach-based MailPix Inc. bought PrintShopLab, the printing unit of Denver-based Photobucket Corp., on undisclosed terms.

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Veritone Sales Sour Traders

Shares of Veritone Inc. (Nasdaq: VERI) plummeted after the company reported second quarter results that missed Wall Street expectations.

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Veritone Plans Two Acquisitions

Veritone Inc. shares jumped today after the Costa Mesa-based company announced two pending acquisitions, one for its emerging artificial intelligence business and the other for its media-buying arm.

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Nicholas Hires Top Defense Firm

Broadcom cofounder and billionaire philanthropist Henry Nicholas III has hired one of the most prolific, and high-profile defense attorneys in Nevada after his arrest late Wednesday night on suspicion of trafficking heroin, methamphetamine, ecstasy and cocaine.

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Biolase Gets New CEO

Irvine-based Biolase Inc. (Nasdaq: BIOL) on Aug. 8 named Todd Norbe president and chief executive.

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Cannabis Company Grows Revenue, Margins

Terra Tech Corp. (OTC: TRTC) said quarterly revenue increased 11% to $8.7 million, year-over-year, but net loss also increased, to $11.4 million from $500,000.

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Hotel Sales Down 50% YTD

Eight hotels with 955 rooms sold in Orange County through the first six months of the year, compared to 16 hotels with 1,803 rooms, year-over-year, according to Atlas Hospitality Group in Irvine.

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Windes Acquires Irvine Accounting Firm

Windes Inc., a Long Beach-based accounting firm, has acquired Irvine’s Allen, Haight & Monaghan LLP. Terms weren’t disclosed; the firms will practice under the moniker of Windes.

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Carrick Capital Adds Stake in Health Services Firm

Newport Beach’s Carrick Capital Partners LLC bought a majority stake in Discovery Health Partners, a payments company in the health industry. Terms weren’t disclosed.

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Orange Coast Auto Group Buys South Coast Acura

Costa Mesa-based Orange Coast Auto Group acquired South Coast Acura in Costa Mesa for an undisclosed sum on Thursday.

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Lazy Dog Adds Georgia

Lazy Dog Restaurant & Bar will open a location in Georgia next spring, a new market for the Huntington Beach-based casual dining chain.

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Acacia Management Ousted, Board Resigns

Senior management of Acacia Research Corp. will leave the company by Friday and all board members who were in place before a recent proxy fight at the company have resigned.

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Alteryx Up

Shares in analytics software maker Alteryx Inc. rose on its quarterly report, which included higher sales that beat expectations.

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Disney Parks Tops in Growth

Year-over-year Walt Disney Co. parks and resorts’ operating income rose 15% to $1.34 billion in the most recent quarter on a 6% revenue bump to $5.2 billion. The income growth was the highest of the entertainment company’s four divisions, and the revenue increase was second-highest.

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Xponential Buys Yoga Six

Irvine-based boutique fitness brand operator Xponential Fitness has expanded its portfolio.

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5 Restaurant Chains in Top 50

Five quick service restaurant chains based in Orange County—or soon to be—made trade magazine QSR’s list of the 50 largest such companies in the U.S., ranked by 2017 systemwide sales.

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El Pollo Loco $8.8M Judgment Confirmed

Costa Mesa-based El Pollo Loco Holdings Inc. must pay $8.8 million to franchisees who sued the fast food chicken chain when it opened corporate stores near their location, a Los Angeles Superior Court judge said.

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Poké Chain Gets Japan-Based Investment

Pokéworks in Irvine said it received an investment from Toridoll Holdings Corp. in Japan.

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AVD Up But Misses on Revenue

Newport Beach-based chemicals maker American Vanguard Corp. earned $5.6 million in quarterly net income, up from $4.3 million year-over-year, on revenue of $107 million, up from $78 million.

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PHG Names CFO

Pacific Hospitality Group named Melanie Bucci chief financial officer;. She was most recently vice president of finance at Montage International for about eight years; both are hotel management companies based in Irvine.

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Skyworks to Buy Avnera for $405M

Skyworks Solutions Inc. has agreed to buy analog chip systems maker Avnera Corp. for $405 million in cash.

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Real Mex Files BK; To Sell

Holding companies that own chains run under Real Mex Restaurants Inc. have filed for bankruptcy and will sell to an affiliate of New York-based private equity firm Z Capital Group LLC, which along with Santa Monica-based Tennebaum Capital Partners will provide $5.5 million in debtor-in-possession financing during the Chapter 11 process.

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3 OC Hospitals in DOJ Settlement

Ontario-based Prime Healthcare Services Inc. and its chief executive have agreed to pay $65 million to settle federal allegations of Medicare overbilling at 14 California Hospitals, including four in Orange County, the U.S. Attorney’s Office said Aug. 3.

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