Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Irvine Bank CEO and CFO to Retire

Irvine-based Pacific Enterprise Bank said Chief Executive Rick Ganulin will retire at the end of the year.

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El Pollo Loco Closes $200M Debt Deal

Costa Mesa-based El Pollo Loco Holdings Inc. said today it closed on a new $200 million lending agreement that cuts its interest costs by about $7 million a year.

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Mortgage Lender to Expand in OC

Stonegate Mortgage Corp. in Indianapolis said it plans to make more than 175 hires in Orange County for its recently created loan servicing subsidiary Stonegate Direct in Lake Forest.

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Private Equity Firm Gets Fox Head

Private equity firm Altamont Capital Partners in Palo Alto said it acquired a majority stake in Fox Head Inc., in a deal estimated at more than $200 million.

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Quiksilver Up on Quarterly Numbers

Shares of Quiksilver Inc. rose about 30% to $1.92 and a market value of $330 million in early trading Friday, after it reported a narrower loss after markets closed yesterday.

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Alliant Acquires Employee Benefits Firm in N.Y.

Alliant Insurance Services Inc. in Newport Beach has acquired the Camps Group, a New York-based brokerage firm that specializes in employee benefits services.

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Parker Hannifin Takes Stake in Irvine Manufacturer

Freedom Innovations LLC, an Irvine-based maker of prosthetic devices, has received a minority equity investment from diversified manufacturer Parker Hannifin Corp.

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Yogurtland to Enter Thailand

Irvine-based Yogurtland Franchising Inc. said a new franchisee in Thailand plans to open 15 stores there.

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Wet Seal Puts BK in Picture After Weak Q3

Shares of Wet Seal Inc. sank more than 65% to 9 cents and a market value of $8 million in midday trading, after the teen and contemporary retail chain said it might “seek a restructuring or other relief under the provisions of the U.S. Bankruptcy Code” if it can't address its immediate liquidity needs.

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Broadcom Up on iPhone Sales, Shareholder Initiatives

Broadcom Corp. shares continued to modestly climb Wednesday, a day after the Irvine-based chipmaker laid out its corporate strategy to analysts for the upcoming year.

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Boeing Plans OC Layoffs

Boeing Co. will lay off 360 people in Southern California between Dec. 12 and Jan. 1, with about a third of the cuts in Huntington Beach, according to layoff notices posted by the California Employment Development Department.

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Grosses Donate $10M to Mission Hospital Laguna Beach

Pacific Investment Management Co. founder Bill Gross and his wife, Sue, president of the Gross Family Foundation, have donated $10 million to Mission Hospital Laguna Beach.

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WD: ‘Significant Progress’ With China Regulators

Irvine-based storage products maker Western Digital Corp. is a step closer to gaining regulatory approval from China’s Ministry of Commerce to integrate its Hitachi Global Storage Technologies Inc. subsidiary there.

Premium Cut on Irvine Ranch

Why Some Builders Share Profits, Even If Wall Street Wonders

Orange County’s high-end housing market is proving to be a big source of business for The New Home Co.—even if it’s been a source of confusion to some Wall Street investors and analysts who follow the homebuilder.

El Sol’s Sunny Mission

Plenty of Business Backers for Santa Ana School’s Focus on Arts, Academics, Dual Immersion

The idea of charter schools was little-known concept in Orange County in 1999, recalls Susan Mas.

OC Efforts Spur Japanese Device Regulation Changes

New Law Loosens Process US Firms Have Criticized

Efforts over the past decade by several of Orange County’s better-known medical device executives to change Japanese laws are bearing fruit.

R&D Space at Premium in Third Quarter

The Orange County research and development market remained tight in the third quarter.

Tech Firm Acquires Cloud-Gaming Spinoff Assets

Aims to Fill Sector Niche Void After Recent Shifts

Fast-growing Irvine company Numecent has acquired employees, customers and intellectual property from Approxy, a joint venture it spun out in 2012 with private investors to deliver “cloud paging” for next-generation cloud-gaming services.

Pimco Tapped as Likely Buyer of Twin City Towers

5th St. Towers Could Be Latest Buy for Bond Giant

Newport Beach-based Pacific Investment Management Co. has emerged as the likely buyer of one of the most prominent office complexes in downtown Minneapolis, according to news reports from the Twin Cities.

Hotel Irvine Transformation Starts on Ground Floor

HOSPITALITY: New amenities, look for lobby, all 536 rooms

A yearlong renovation has Hotel Irvine ready for its interior close-up—with makeovers of meeting spaces and outdoor amenities scheduled for completion in January.

Equity Office Adds Costa Mesa Campus to OC Portfolio

REAL ESTATE: Blackstone unit now owns 1.5M SF in area

The office division of New York-based private equity giant Blackstone Group has added another big office complex in Costa Mesa to its growing Orange County portfolio.

KBS Spree Ranges From SJ to Va.

A $345 million acquisition spree by Newport Beach-based KBS Realty Advisors includes a prominent office tower in San Jose and a pair of deals on the other side of the country.

Avanir to Continue as OC-Based Business Under Otsuka

HEALTHCARE: $3.5B for maker of neurological drug

Aliso Viejo-based Avanir Pharmaceuticals Inc. hopes to continue its recent surge under new owner Otsuka Pharmaceutical Co., which aims to beef up its neurology drug lineup following an upcoming patent expiration.

Orange County Nonprofit Groups Have Year of Growth

Every Category Is Higher, Including Costs, Clients

More people needed a lift last year, and local donors and charitable organizations responded with more money and more people to offer help.

How South Coast Repertory Works Neighborhoods

NONPROFITS: Program adapts to schools’ needs

She was about 10 years old, a painfully shy girl with huge brown eyes and a mop of shiny brown hair. She had a nice smile—when it could be coaxed to appear.