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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Taco Bell CEO to Harley Board

Taco Bell Chief Executive Brian Niccol has joined the board of directors at Harley-Davidson Inc., the maker of motorcycles in Milwaukee, Wis.

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Glaukos CFO to Retire in 2017

Glaukos Corp. in Laguna Hills said Chief Financial Officer Richard Harrison will retire next year.

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Unemployment Up as Labor Force Grows

Orange County’s unemployment rate was up to 4.4% in June from a revised 3.6% in May, much of the increase caused by 0.8% growth in the local labor force to 1.61 million.

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Vans Sales Jump Headlines Parent’s Quarter

Vans Inc. revenue was up 4% in July quarter, according to its Greenboro, N.C.-based parent, VF Corp.

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LA Fiduciary Adviser Invests in OC

Costa Mesa-based investment adviser New Market Wealth Management has a new equity owner in Cliffwater LLC, an investment adviser in Los Angeles.

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Ingram Sale Hits Bump

Ingram Micro Inc.’s pending $6 billion sale to Chinese conglomerate Tianjin Tianhai Investment Co. Ltd. has run into its first hurdle that could ultimately derail the deal.

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Quantum Fuel Bought

Lake Forest-based Quantum Fuel Systems Technologies Worldwide Inc. was purchased by Douglas Acquisitions LLC, an affiliate of second-position secured creditors.

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TIAA Takes Pacific City Stake

Huntington Beach’s Pacific City shopping center has seen a change in ownership.

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PIMCO Names New CEO

Pacific Investment Management Co. in Newport Beach named Emmanuel “Manny” Roman its chief executive, replacing Douglas Hodge, who will become a managing director and senior adviser to the company.

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Innovation Institute Buys IT Company

The La Palma-based Innovation Institute said today that it has acquired Corona-based information technology specialist Hospitality Business Network Solutions. A purchase price was not disclosed.

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Silicon Valley Software Maker to NB

Newport Beach-based startup Predictive Inc. has acquired a Silicon Valley software maker developing advanced learning applications.

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Opus Sells Coachella Location

Irvine-based Opus Bank agreed to sell its La Quinta branch in Coachella Valley to the Bank of Southern California headquartered in San Diego.

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Apparel Company Buys Firm

Contravisual Brands Group LLC acquired Los Alamitos-based Sullen Clothing Inc. on undisclosed terms.

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Toba in $11M Series A Round

Vinny Smith’s Toba Capital in Newport Beach has led an $11 million Series A round for business software maker Grow.

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Innovation Institute Adds Exec Search

Innovation Institute LLC in La Palma has acquired Summit Talent Group, a healthcare industry executive compensation and search firm in Columbia, Md.

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Anaheim Tax Break to Luxe Hotels

Walt Disney Co. in Burbank and affiliates of Hong Kong-based Wincome Group will divvy up $560 million in tax money to be reimbursed over 20 years for building three luxury hotels in Anaheim.

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El Pollo Loco Debuts Design in Dallas

Costa Mesa-based El Pollo Loco Holdings Inc. will debut new design elements for its restaurants when it enters the Dallas-Fort Worth market in August with two franchised locations.

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Alliant Buys in Chicago

Newport Beach-based Alliant Insurance Services acquired on undisclosed terms Mesirow Insurance Services, the insurance division of Mesirow Financial in Chicago.

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More OC Jobs Beyond Downtown

Two reports by University of California-Irvine researchers show most job growth in two decades in Southern California has come outside of traditional downtown areas and central business districts.

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Media Shipper to Top $1B in Revenue

Alliance Entertainment Corp. said it bought the retail music distribution business of Anderson Merchandisers in a deal that would push Alliance revenue above the $1 billion mark. A purchase price wasn’t disclosed.

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Pet Gear Maker Sold

Costa Mesa-based Precision Pet Products has been sold on undisclosed terms to Petmate in Arlington, Texas.

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Confie Buys In NY

Huntington Beach-based insurance provider Confie acquired on undisclosed terms two insurance brokerages in New York: Lloyd D. Sprague & Son, Inc. and J.N. Mason Agency, Inc.

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WD Ups Targets, Promotes New CFO

Western Digital Corp. today raised its guidance for the current quarter and initiated an executive change.

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Bravo Buys Skateboard Co.

Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.

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NextVR Raises $20M

Laguna Beach-based virtual reality content maker NextVR Inc. has raised $20 million from CITIC Guoan Information Industry, a state-owned investment firm in China.