Orange County Business Journal


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

Newport Beach Led Way on Luxury’s Summer Sizzle

50 Homes Sold; Priciest Goes For $17.5M

Summer sizzled in the Orange County luxury market, with 50 transactions above $4 million closing between June 15 and Sept. 15.

GE Healthcare Veteran Joins Medical Device Maker

Brings ‘Deep Experience’ Of Leading Big Businesses

Irvine-based device maker Endologix Inc. recently appointed Vaseem Mahboob as its new chief financial officer.

KBS Realty Doubles Up in Downtown San Jose

$150 Million Office Buy Would Be 2nd Since 2014

An affiliate of Newport Beach-based KBS Realty Advisors is under contract to buy one of the more prominent office complexes in downtown San Jose.

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PHG Buys AC Hotel New Orleans

An affiliate of Pacific Hospitality Group in Irvine bought the AC Hotel New Orleans from an affiliate of Dallas-based NewCrestImage LLC.

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St. Regis Offers Details on Redo

St. Regis Monarch Beach Resort in Dana Point has offered details on its planned renovation of some public areas of the property.

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Tustin Engineering Firm Acquired

Tustin-based electrical engineering firm R.E. Wall and Associates Inc. was acquired by Los Angeles-based Morrow Meadows Corp.

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Pacifica in $44M Hotel Sale

Irvine-based Pacifica Hotels sold the Hilton Garden Inn Marina del Rey to Chatham Lodging Trust in West Palm Beach, Fla., for $44.5 million.

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Disney Co. Venture Points to Parks

The Disneyland Resort in Anaheim could benefit from an investment its Burbank-based parent Walt Disney Co. has made in a virtual reality filmmaker.

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Court Rules Against Glaukos in Patent Case

Laguna Hills-based Glaukos Corp. said a court ruled against it on three pending summary judgment motions in a patent lawsuit with a competitor.

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OC Adds Jobs, Unemployment Rate Dips

Orange County employers added 2,200 jobs in August after two months of job cuts.

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UCI Tops NY Times Index

University of California-Irvine ranked No. 1 out of 179 schools in a New York Times measure of access to college for lower- and middle-income students.

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Mazda Charity Gives $500K to Food Bank

The Mazda Foundation announced a $500,000 grant to Irvine-based Second Harvest Food Bank of Orange County.

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Radiation Provider Gets Majority Owner

Newport Beach-based Alliance HealthCare Services Inc. said today that Chinese investor Fujian Thai Hot Investment Co. will buy 5.5 million shares of its stock for $102.5 million and become its majority shareholder.

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Incipio Buys Bag and Case Maker

Incipio Technologies Inc. in Irvine acquired Chino-based Incase Designs Corp., a maker of bags and accessories for Apple products, on undisclosed terms.

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Quiksilver Cuts Losses in Q3

Huntington Beach-based Quiksilver Inc. lost $124.7 million in its third quarter ended July 31 compared with a loss of $220.6 million in the same period last year.

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Irvine Battery Maker Raises $30M

Irvine-based startup Enevate Corp. has raised $30 million in a Series B funding round has plans to start production of its lithium batteries.

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Pieology Plans Units in Guam, Saipan

Pielogy Pizzeria in Rancho Santa Margarita plans through franchisee Progressive Pies LLC to open three restaurants in Guam and Saipan with the first to open early next year.

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Sandwich Chain to End Franchisee Deal

Capriotti’s Sandwich Shops, which a news report in 2012 said planned 35 locations in Orange County, will end its relationship with the franchisee of the four restaurants open here.

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UCI to Get $19M NIH Grant

University of California-Irvine will get $19 million over four years from the National Institutes of Health to turn research results into medical products and services.

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St. Regis to Furlough 610 Workers

The St. Regis Monarch Beach in Dana Point plans a temporary layoff of 610 employees, a state filing said, with the reduction coming on a rolling basis over seven months.

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Former DP Hotel Hopeful Files for BK

A developer that lost a bid to build a 5-story, 250-room hotel in Dana Point has filed for Chapter 11 bankruptcy in Santa Ana, a court filing said.

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Yorba Linda Pump Distributor Acquired

Yorba Linda-based Cortech Engineering LLC has been acquired by Houston-based industrial equipment wholesaler DXP Enterprises Inc.

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Quiksilver to Shut Stores in Prime OC Locations

Quiksilver Inc. plans to close several stores in prime Orange County locations as part of a larger trim to operations that’s in the works, according to documents filed with the U.S. Bankruptcy Court for the District of Delaware.

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Quiksilver Files for Bankruptcy

Quiksilver Inc. filed for Chapter 11 bankruptcy late Tuesday in the U.S. Bankruptcy Court for the District of Delaware to reorganize its U.S. operations. The company’s European and Asia-Pacific businesses “remain strong” and are not part of the filing.

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Lifestyle Healthcare Investor Buys Distributor in Spain

Strathspey Crown Holdings LLC, a Newport Beach-based healthcare private equity firm, has agreed to acquire IMEX Clinic SL, a specialty medical equipment distributor in Valencia, Spain.