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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UCI Gets $8M for Cell Health Work

University of California-Irvine will get $8 million from the National Institutes of Health to study human cellular response and develop disease treatments.

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Johnny Rockets Licenses Retail Food

Aliso Viejo-based Johnny Rockets said it had licensed its name for private label grocery distribution under an effort called Johnny Rockets At Home.

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WD to Pay $758M to Rival

Irvine-based storage products maker Western Digital Corp. will has been ordered to pay its chief rival $758 million related to a bevy of trade secrets claims.

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Confie in 2 More Deals

Huntington Beach-based Confie Seguros Insurance Services has made two more acquisitions, the latest in a recent string of buys.

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Valeant to Boost Allergan Bid

Canada-based Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management are planning to hike their hostile bid to buy Irvine-based Allergan Inc. by $15 a share, according to a Wall Street Journal report today.

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Report Says Actavis to Make New Allergan Pitch

Irvine-based Allergan Inc. will be approached again about being bought by Actavis PLC, according to a Reuters report today.

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Allergan Asks Court to Block Ackman Share Vote

Irvine-based Allergan Inc. asked a federal court in Santa Ana to block activist investor Bill Ackman and his Pershing Square Capital Management LP from voting its 10% stake at an upcoming special meeting.

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$6M for San Clemente Device Maker

San Clemente-based Vertiflex Inc. raised $6 million in funding, according to a filing with the Securities and Exchange Commission.

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MemorialCare Takes Full Ownership of Imaging Centers

Fountain Valley-based MemorialCare Health System said today that its MemorialCare Medical Foundation is now the sole owner of eight imaging centers located in Orange County and Long Beach.

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Irvine Big Data Firm Raises $60M

Irvine-based Alteryx Inc., a fast-growing data analytics software company, has raised $60 million in a venture round.

OC Insurance Brokers Aim for Middle to Offset Corporate Migration

Credit some of Orange County’s biggest insurance brokers with quick adjustments to shifts in California’s corporate landscape.

Gross Hits PR ‘Grand Slam’ With Job Shift

MARKETING: Estimates of boost to Janus brand range upward of $300M

The $1 billion increase in market value that Janus Capital Group Inc. got on news that Bill Gross had joined the company wasn’t the only windfall for the Denver-based fund manager.

Big Numbers Go With Gross

Bill Gross and big numbers go together, as our story on page 1 shows with its estimate on the value of the publicity that came with the Bond King’s jump from Pimco to Janus Capital topping $300 million.

Home Appliance Brand Gets Creative in Costa Mesa

REAL ESTATE: Moves U.S. HQ From Huntington Beach

The creative-office design trend is making its way to the glitzy buildings next to South Coast Plaza.

Bixby Invests Nearly $100M in Office, Industrial Buys

REAL ESTATE: Deals in SD, Inland Empire, Central Valley

The purchase of four offices in San Diego has capped off nearly $100 million in buys and investments in California properties for Irvine-based Bixby Land Co. over the past quarter.

Broadcom Chip In Apple Watch?

It appears Irvine-based Broadcom Corp. is primed to supply a key component for the long-awaited Apple Watch.

Riding a Roller Coaster Career

Palace Entertainment GC Expects the Unexpected

Michael Baroni’s legal career has been like a roller coaster, with twists and turns and unexpected outcomes.

CoreLogic’s Patent Play

Tabaddor Took Reins of IP, Turned Department Into Profit Center

Moving from defense to offense has paid dividends for the intellectual property legal team at Irvine-based CoreLogic Inc.

OCers Make Forbes’ Wealthy List

Nine members of the Business Journal’s annual OC’s Wealthiest list were included in the recent Forbes 400 list, which ranks and profiles the wealthiest Americans by estimated net worth.

Irvine Cove, Emerald Bay Warm Up Coastal Market

Slow Streak Over as 2 Sales Top $10 Million

The communities of Emerald Bay and Irvine Cove in Laguna Beach capture the character and charm of the California Riviera and command some of the highest sale prices for homes in Orange County.

Abbott Ups Overseas Presence With Malaysia Plant

Device Maker Puts $60M Into Venture to Hire 500

Abbott Laboratories, the parent of Santa Ana-based Abbott Medical Optics, is spending $60 million on an intraocular lens plant in Malaysia.

Flooring Distributor Inks 1st Anaheim Concourse Lease

Longust to Move From Nearby, Takes 93,818 SF

Longust Distributing Inc., a wholesale flooring supplier that’s had an Anaheim location since 2001, is the first company to announce a lease at the new batch of industrial buildings being constructed at Panattoni Development Co.’s massive Anaheim Concourse project.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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Wet Seal CFO Steps Down

Steven Benrubi has resigned from his post as Wet Seal Inc.’s executive vice president and chief financial officer, the company announced in its regulatory filings Thursday