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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Register Parent to Cut 100 Jobs

Santa Ana-based Freedom Communications Holdings Inc. will cut about 100 positions, including executives, according to a report today in the company’s flagship publication, the Orange County Register.

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Casa Laguna Changes Hands

Casa Laguna Inn & Spa, a boutique hotel in Laguna Beach, has sold on undisclosed terms.

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Catholic Diocese Gets $20M Pledge

The Roman Catholic Diocese of Orange said today its foundation received a pledge of $20 million from an undisclosed individual for its Christ Cathedral campus, the former site of the Crystal Cathedral in Garden Grove.

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Actavis to Cut Jobs in Corona

Actavis PLC, which is buying Irvine-based Allergan Inc., will lay off 200 workers at its operation just across the county line in Corona, according to a state filing.

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Avanir to be Acquired for $3.5B

Avanir Pharmaceuticals Inc. has agreed to be acquired by Otsuka Pharmaceutical Co. for $3.5 billion.

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NB Restaurant Chain Sold to Applebee’s Operator

Newport Beach-based restaurant chain Roy’s is set to be sold on undisclosed terms by parent company Bloomin’ Brands, according to a report in Nation’s Restaurant News.

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Lyon Helps Fund CSUF History Work

The family of retired Air Force General William Lyon plans to give $150,000 to the Center for Oral and Public History at California State University-Fullerton, the school said.

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Ingram Micro Gets Majority Stake in Turkish Distributor

Santa Ana-based Ingram Micro Inc. through its Dubai unit has acquired a majority stake in Armada, a technology distributor in Turkey.

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Software Company Expands HQ, Moves to Aliso Viejo

Predixion Software Inc. has tripled the size of its headquarters in a move from San Juan Capistrano to Aliso Viejo.

Employee Friendly, Too

Earth Friendly Products Spreads Benefits of Growth

Earth Friendly Products is continuing on its growth course under a new generation of leadership.

Chinese Developer Buys A-Town Parcel in Platinum Triangle

REAL ESTATE: Plans to ask Anaheim for more units, mixed-use

A real estate company in China has bought one of the most prominent parcels of developable land in Anaheim’s Platinum Triangle, where it plans its flagship residential and commercial development project for the U.S.

Rockwell Collins to Shift In-Flight Entertainment Operations to Irvine

REAL ESTATE: Move from Tustin to Alton Corporate Plaza

Aviation electronics maker Rockwell Collins Inc. is relocating its regional operations from Tustin to Irvine after signing one of Orange County’s largest office leases of the year.

Westin South Coast Plaza Starts $20M Renovation

HOSPITALITY: More king beds; mini-bars, ‘popcorn’ ceilings out

The Westin South Coast Plaza in Costa Mesa is scheduled to start a $20 million renovation this week, with makeovers for its 393 rooms expected to be finished in April.

First Foundation Gets Bank in Hawaii

Irvine-based financial services company First Foundation Inc. has agreed to acquire Pacific Rim Bank in Hawaii in a deal valued at about $11.8 million.

Up From San Diego

Hughes Marino Brings Family Affair, Focus on Tenant Side to OC

Do the basics so well that it’s cutting edge.

November Shapes Up to Match October Luxury Sales

Eight $4M-Plus Homes Sold in First Half of Month

In October, Orange County boasted 19 home sales that topped the $4 million mark, with the highest closed transaction fetching $10 million for the 4,000-square-foot oceanfront villa at 11 La Senda Place in Lower Three Arch Bay in Laguna Beach.

Integrated Healthcare Vies for Joshua Tree Hospital

Works With Affiliates To Get Operations Lease

Hospital operator Integrated Healthcare Holdings Inc., one of Orange County’s lower-profile public companies, is working with some of its affiliates to lease a hospital in the High Desert community of Joshua Tree.

Next Technology Incubator to Open in OC in February

SD-Based Firm to Bring Model to Research Park

Orange County has attracted another technology incubator.

Prologis Adds to Portfolio With $18M Buena Park Buy

Price of Half-Full Property Comes to About $110 PSF

Denver-based industrial giant Prologis Inc. has picked up a large property near the Orange County-Los Angeles line.

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Midday Stock Roundup

The S&P 500 was down 0.13% to 2,070.07 in midday trading.

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Fed Lifts Enforcement Action on Pac Merc

The Federal Reserve Board has terminated its enforcement action with Costa Mesa-based Pacific Mercantile Bancorp.

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Irvine-Based Cafe to Open Third Site

Irvine-based Java Bakery Café plans to open its third location in Lake Forest on Saturday, with a fourth to follow in Mission Viejo in January and a fifth in Corona del Mar later in 2015, the company said.

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Wet Seal Taps L.A. Investment Bank, Tilly’s Vet

Wet Seal Inc. has hired Houlihan Lokey Capital in Los Angeles and former Tilly's Inc. executive William Langsdorf to “identify and analyze potential strategic and financial alternatives.”

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NB Company Gets More Money to Build Hydrogen Stations

FirstElement Fuel Inc. will receive a $13.8 million loan from American Honda Motor Co. Inc. in Torrance to build 12 additional hydrogen fueling stations in the state.

Great Park Goes Commercial

Broadcom Campus Plan Puts Focus on ‘Companies and Jobs’

Expect to see a surge in commercial real estate development activity near the southern edge of the former El Toro Marine Base in Irvine, following the decision of Broadcom Corp. to relocate its headquarters to the Great Park Neighborhoods site.