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...

StanPac Goes Deep With Arizona Ballpark Plan

Stadium Site Will Be Turned Into Homes

Irvine-based Standard Pacific Corp. is moving ahead on a housing development at the former site of a Cactus League baseball stadium in Chandler, Ariz.

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Allergan Buzz: Jazz Phamarceuticals a Buy?

Shares of Jazz Pharmaceuticals PLC rose today after an industry website said it would likely be the most viable deal target for Irvine-based Allergan Inc.

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Report: Alliance Considering Sale

Newport Beach-based Alliance HealthCare Services Inc. may consider putting itself up for sale, according to a report published today.

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Quiksilver Slides on Rugged Quarter

Shares of Quiksilver Inc. dropped about 11% to $2.51 and market value of about $428.5 million in after-hours trading Thursday after the retailer posted a big loss and a steep drop in revenue for the quarter ended July 31.

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Alliant Expands with Buy in Spokane

Newport Beach-based Alliant Insurance Services Inc. has acquired Moloney + O’Neill in Spokane, Wash. on undisclosed terms.

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Disney-Area Hotel Sold for $32.5M

Chesapeake Lodging Trust said it sold the 153-room Courtyard Anaheim at Disneyland Resort for $32.5 million, or about $212,000 per room.

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El Pollo Loco Parent Reports Higher Earnings in Q2

Costa Mesa-based El Pollo Loco Holdings Inc. reported net income of $6.6 million and 21 cents per share for its second quarter ended June 25, 2014, compared to $410,000, or 1 cent per diluted share in the same period last year.

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$21M Round for Mazzo-Led Device Company

Irvine-based medical device company AcuFocus Inc. has received $21 million in new venture funding.

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Anaheim Bathtub Maker Sold

Anaheim-based bathtub manufacturer Aquatic has been acquired by the Sterling Group, a private equity firm in Houston.

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Wet Seal Plunges on Q3 Outlook; Share Offerings

Trading in shares of Foothill Ranch-based Wet Seal Inc. was halted for several hours after the market opened today.

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Thomas Back at Helm of Wet Seal

Foothill Ranch-based Wet Seal Inc. Chief Executive John Goodman left the company August 26 and was replaced by former Chief Executive Edmond Thomas, according to regulatory filings.

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Pacific Premier in $60M Private Placement

Irvine-based Pacific Premier Bancorp Inc. has sold $60 million worth of notes to private investors.

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Biolase Makes Nugent Permanent CEO

Irvine-based Biolase Inc. said today that Jeffrey Nugent is now the company’s permanent chief executive. Nugent, a Biolase director, had served as acting chief executive since June.

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Allergan Answers Valeant, Pershing Square

Irvine-based Allergan Inc. said today that it filed an answer in U.S. District Court to a countersuit filed by Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management.

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Kofax Acquires German E-Signature Company

Irvine-based software maker Kofax Ltd has agreed to pay $34.7 million in cash for Softpro GmbH, a German company that specializes in electronic signature software and services.

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Bankrupt CM Restaurant Chain to be Bought

The Costa Mesa-based parent of the Elephant Bar restaurant chain is slated to be bought out of bankruptcy and will be operated by a Dallas-based restaurant company.

Segerstrom Center’s Street Smarts

Education Programs Aim for Neighborhoods

Luis Castillo experienced something entirely new when he was touched by the Summer at the Center program back in 1994.

St. Joseph Health Backs Big Office Buy in Mission Viejo

HEALTHCARE: Innovation Institute gets four buildings, 263,000 SF

The Innovation Institute LLC, a La Palma-based for-profit healthcare company formed by St. Joseph Health in Irvine last year, has taken over ownership of four medical buildings surrounding Mission Hospital in Mission Viejo.

Amway Bolsters OC Operations With $42M Investment in Nutrilite

MARKETING: Manufacturing, R&D upgrades in Buena Park

Amway Corp. is expanding the Buena Park operations of its Nutrilite supplements brand with a $42 million investment for new manufacturing and research facilities.

Next Generation of Philanthropists Changes Giving

Savvy, Tech-Smart Gen Y Maps Out Its Own Way

Look who grew up. Generation Y, born roughly between 1980 and 2000 and also known as the Millennials, is leaving its mark on everything it comes into contact with, and that includes philanthropy.

Private Foundation Giving Up Overall, Down in OC

40 Give $33M Locally Last Year, Down 9.3% From ’12

Private foundations based in Orange County gave $156.2 million overall based on their most recent data compared to $128.7 million a year ago—21.4% higher—but their local giving was down, according to data compiled by the Business Journal.

Corporate Giving Generally Up Fourth Year Running

Foundations, Firms’ Charity Arms Give 3.1% More OC Cash

Total cash giving by 35 corporate foundations and company charitable arms active in Orange County dropped 6.4% from a year ago. But discounting two major, one-time giving efforts in 2012 from the largest giver on that year’s list, Wells Fargo & Co. there was a fractional boost for the year—the fourth straight of positive increases, the Business Journal’s list shows.

Another Bank Sets Up HQ in Irvine

FINANCE: CBC buys building for move from Costa Mesa

Commercial Bank of California has moved its headquarters from Costa Mesa to a building it has purchased in Irvine.

Lake Forest Lender Taps Treasury on $100M Bond Issue

FINANCE: Proceeds pegged for community development projects

A Lake Forest-based lender primarily focused on community development has received $100 million through bond debt backed by the U.S. Department of the Treasury and targeted for use on projects in low-income and underserved areas.

Corinthian to Sell Assets in Wind Down

Santa Ana-based Corinthian Colleges Inc. said it would sell some assets to raise money to fund the winding down of its operations and, separately, that it had paid back rent its landlord said it owed.