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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Microsemi Posts Record Revenue, Profits in June Quarter

Aliso Viejo-based chipmaker Microsemi Corp. reported revenue for the June quarter that beat Wall Street expectations and adjusted profits in line with estimates.

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Students Seek $2.5B Claim Against Corinithian

Attorneys for former students of Santa Ana-based Corinthian Colleges Inc. are asking a court for permission to file a $2.5 billion claim against the bankrupt former operator of for-profit schools, the Wall Street Journal said.

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William Lyon Homes Promotes Zaist to Co-CEO

William Lyon Homes said it has promoted Matthew Zaist to the role of co-chief executive officer.

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Alliant Acquires Agribusiness Agency

Newport Beach-based Alliant Insurance Services Inc. has acquired an agency in Lodi that specializes in agribusiness insurance. Terms of the deal weren’t disclosed.

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Louisiana Hospital System Takes Innovation Institute Stake

The Innovation Institute in La Palma, founded with an investment from Irvine-based St. Joseph Health, said today that the Franciscan Missionaries of Our Lady Health System has become its fourth member and investor.

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Anaheim Software Maker Acquired

Anaheim-based Scenario Virtual Project Delivery was acquired by Plantation, Florida-based e-Builder Inc. on undisclosed terms.

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Kaiser Aluminum Up, Upbeat on Q2

Kaiser Aluminum Corp. beat Wall Street expectations on second-quarter revenue and income, sending shares up about 6% in midday trading Wednesday to a $1.5 billion market cap.

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CSUF to Get $2.4M for Migrant Education

California State University-Fullerton will get $2.4 million over five years from the U.S. Dept. of Education to offer high school and early college education for migrant farm workers and their children.

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Rich Uncles REIT Files for IPO

Real estate investment company Rich Uncles LLC is behind an initial public offering to raise as much as $1 billion for its newly created Rich Uncles REIT Inc.

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Johnny Rockets Goes to College

Aliso Viejo-based Johnny Rockets Restaurant Group said it will expand its “express” locations on college campuses.

Boardwalk’s Big Leap

Trammell Crow Spec Office Project Set to Add 545,000 SF to Airport Area

Trammell Crow Co. has taken the wraps off the first large, speculative office project expected to break ground in the office market around John Wayne Airport in over seven years.

Gateway Deal Reflects Central OC Rebound

REAL ESTATE: Lincoln Property expected to pay $68 million

Lincoln Property Co. is buying a large office next to Angel Stadium of Anaheim in the latest sign of an improving office market in Central Orange County.

OC Hotel Market Stays Hot With $126.2M Deal

REAL ESTATE: Local sales add up to $730M so far this year

The 485-room Irvine Marriott Hotel at the Irvine Towers office complex near John Wayne Airport has been sold to a Los Angeles-based institutional investor.

Burnham Adds Office Near JWA to Local Portfolio

REAL ESTATE: Data indicate relative bargain at $264 per SF

Newport Beach-based Burnham-Ward Properties has expanded its hometown office holdings with a property not too far from John Wayne Airport.

One Source Industries Plans San Pedro Plant

One Source Industries LLC, an Irvine-based provider of point-of-purchase displays, product packaging, and global promotional programs, plans to open a 25,000-square-foot production facility in San Pedro.

Luxury Homebuyers Want More Than Just Location

Seek More Amenities, Not To Mention Precious Views

Discerning homebuyers today are looking for more than “location, location, location,” say real estate professionals in Orange County who specialize in the ultra-luxury market.

Auction.com Seeks Chinese Buyers, Sellers With Deal

Partner to Link Native Speakers, Sale Prospects

Auction.com LLC in Irvine, an online real estate marketplace that matches buyers and sellers of commercial and residential properties, signed a co-marketing deal with AREAA Global “to expand real estate ownership opportunities for Chinese investors.”

Olloclip Shoots for $100K in Return to Kickstarter

Campaign Focused On Studio System Market Entry

Huntington Beach-based olloclip has launched a new campaign on Kickstarter that builds upon its recent entree into the crowded smartphone case segment.

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Frost Capital, Symantec Launch Incubator

San Juan Capistrano-based investment firm Frost Data Capital has partnered with security service provider Symantec Corp. in Mountain View to create and seed startups in cyber security analytics, Big Data, and Internet of Things markets.

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Unemployment Rate Up Slightly

The unemployment rate in Orange County ticked up slightly as employers trimmed the work force in June.

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MV Pipeline Inspection Company Sold

Mission Viejo-based Hoffman Southwest Corp., which provides underground pipeline inspection and repair services, has been acquired by Chicago-based private equity firm Sterling Partners.

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VC Inflow Jumps in Q2

Quarterly venture capital inflow to Orange County companies hit the highest level since mid-2011, according to data from Dow Jones VentureSource.

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St. Joseph Hoag Opening Health Wellness Center at Western Digital

St. Joseph Hoag Health said today that it would open a wellness center in the Irvine headquarters of storage products maker Western Digital Corp. this month.

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Taco Bell Up, Yum Down, in Q2

Irvine-based Taco Bell Corp.’s operating profit in the second quarter grew 29% to $140 million compared with the same period last year, its parent company said Tuesday.