Orange County Business Journal

FINANCE

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

Sales Hot for Most Expensive Orchard Hills Homes

23 Have Sold for $50M+ In Just Two Months

Orchard Hills’ priciest homes have had strong sales since the Irvine development opened a little more than two months ago.

OC’s Wealthiest

Orange County’s wealthiest person has been putting a fair amount of his fortune back into his business over the past year—but we’re figuring that he’s still likely to have seen a boost to his bottom line of about $1 billion.

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Masimo Slides on Earnings Miss

Shares of Irvine-based Masimo Corp. fell sharply today, one day after its second-quarter results missed analysts’ forecasts.

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Buena Park Footwear Brand Sells Majority Stake

Evolv Sports & Designs LLC said Bruckmann, Rosser, Sherrill & Co. in New York acquired a majority stake in the Buena Park-based manufacturer of climbing footwear.

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Emulex Shares Rise on Quarterly Report, Outlook

Shares of Emulex Corp. rose in after-hours trading after the Costa Mesa-based networking equipment maker reported June quarter revenue and adjusted profits that beat Wall Street expectations and provided financial targets in the current quarter that were above estimates.

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Masimo Q2 Misses Forecasts

Irvine-based medical device maker Masimo Corp. today posted second-quarter results that missed Wall Street expectations.

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Advisory Firms Call for Allergan Special Meeting

Two proxy advisory firms now are backing activist investor Bill Ackman in his efforts to call a special meeting of Irvine-based Allergan Inc. shareholders as part of a hostile takeover bid from Valeant Pharmaceuticals International Inc.

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Laguna Hills Tech Company Gets $4M

OpenSignal, a technology startup in Laguna Hills, got $4 million in a recent funding round led by Qualcomm Ventures, the investment arm of San Diego-based chipmaker Qualcomm Inc.

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Pignatelli Resigns From Biolase’s Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., said today he was resigning from the company’s board and withdrawing his nomination for election at its upcoming annual meeting.

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Confie Buys 3 Insurance Brokerages

Huntington Beach-based Confie Seguros Insurance Services Inc. has acquired three brokerages to add to its growing list of offices nationwide.

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San Clemente Software Company Acquired

An Austin, Texas company has acquired San Clemente-based Benesan Corp., which makes specialized software for in-home, nonmedical patient care.

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Ensign Group Buys Angeles Home Health Care

The Ensign Group Inc. in Mission Viejo has purchased Angeles Home Health Care of Los Angeles for an undisclosed amount.

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Tustin Engineering Firm Acquired

Tustin-based engineering firm Hall & Foreman Inc. has been acquired by David Evans and Associates Inc. in Portland.

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Ice Cream Operator Farrell’s Will Franchise

The Farrell's Ice Cream Parlour Restaurants parent company Lake Forest-based Parlour Enterprises Inc. said it will begin franchising.

List of Prospects for Allergan Acquisition Emerges

HEALTHCARE: Drug maker could derail hostile bid with deal

Names are emerging as potential buys for Irvine-based Allergan Inc. as it strives to derail Valeant Pharmaceuticals International Inc.’s hostile takeover attempt.

El Pollo Loco Charts Measured Growth This Time

RESTAURANTS: Post IPO, eyes nearly 400 Southwest spots

El Pollo Loco Holdings Inc. will target focused growth in markets similar to where it’s already strong with its well-received public offering under its belt.

Costa Mesa-Based Bank Expands Board

Xavier Gutierrez has joined the board of directors at Costa Mesa-based Commercial Bank of California.

Ahmanson Offers Insight From Heir’s Perspective

Vision, Effort Can Differ From Working Wealthy

Two visitors are ushered into the home of Howard and Roberta Ahmanson.

Investor Gets 4 Brea Offices in North OC Buy Streak

REAL ESTATE: $42M deal adds to $23M in recent buys

Irvine-based real estate investor PRES Cos. has made its second large acquisition in North Orange County this year—a four-building office portfolio in Brea.

La Palma Stands Out on OC Bank Deposits*

BANKING: Further review reveals that $1.9 billion—$120K per capita—isn’t exactly all that

Wealth isn’t always what it seems.

Investors Like Package-Access Startup to Tune of $1M

Ex-Irvine Co. Exec Had Idea as Managed Rentals

An Irvine startup that uses electronic lockers and proprietary software to store and access delivered packages has raised more than $1 million from Tech Coast Angels investors as it expands operations beyond Southern California.

Long-Planned CdM Luxury Condo Project Starts Soon

Oceanfront Site Could Command Prices of $11M+

Construction on Aerie, an ultra-luxury condominium development in Corona del Mar more than 10 years in the making, is about to start.

No Summer Swoon for Wealthiest

Markets Cooperate as Entries Tally $54B

All the ingredients pointed to another good year for the richest residents of Orange County: an extraordinarily strong run in stocks, continued briskness in the commercial and residential real estate sectors, and some surprising resilience in the bond market.

KBS Fills Big Niche With Sales to Pimco, Irvine Company

REAL ESTATE: Towers in Houston, Chicago bring $216M in profits

Companies headed by OC’s wealthiest residents are proving to be a profitable source of business for Newport Beach-based KBS Realty Advisors.

Simon Scholars Find New Friend in Horatio Alger

National Organization Joins in $20M Commitment to College-Bound Kids in Need

Call them Simon Scholars with something extra.