Orange County Business Journal

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

The Securities and Exchange Commission said this week it would temporarily suspend the stock of Irvine-based Ubiquity Inc., from March 20 to March 31, due to “a lack of current and accurate information about the company.”

By Deirdre Newman March 22, 2017 11:32 a.m. share »
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Microsemi Closes China Plant

Microsemi Corp. has closed a manufacturing plant in China, the Aliso Viejo-based chipmaker said after the close of intraday trading Tuesday.

By Chris Casacchia March 22, 2017 10:35 a.m. share »
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Puzder to Leave CKE

CKE Restaurant Holdings Inc. Chief Executive Andrew Puzder will step down from his post next month and be replaced by Jason Marker, who most recently led U.S. operations for KFC Corp.

By Paul Hughes March 22, 2017 8:58 a.m. share »
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OC-Based Crowdfunder Launches

A former board member of Freedom Communications and his sister launched an online crowdfunding platform for Orange County individuals and nonprofit groups.

By Deirdre Newman March 20, 2017 4:56 p.m. share »
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El-Erian Matches $250K in OCSA Gifts

The Orange County School of the Arts Foundation raised $1 million net in support of the school’s students at last weekend’s gala fundraiser.

By Deirdre Newman March 20, 2017 1:09 p.m. share »
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Starwood Exits TRI Pointe

Starwood Capital Group is exiting TRI Pointe Group Inc. with the sale of 12 million shares, or 7.5% of the Irvine-based homebuilder.

By Peter J. Brennan March 20, 2017 9:57 a.m. share »
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Veritone Inc. Files IPO

Newport Beach-based startup Veritone Inc. aims to raise up to $15 million in an initial public offering, according to a registration statement filed yesterday with the Securities and Exchange Commission.

By Chris Casacchia March 16, 2017 10:12 a.m. share »
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Restaurant Co. Buys 38 Wendy’s

Cotti Foods Corp. in Rancho Santa Margarita bought 38 Wendy’s International Inc. franchises in Kansas, Oklahoma and Texas, a news report said.

By Paul Hughes March 14, 2017 2:04 p.m. share »
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Bank Strikes Deal With Activist Investors

Irvine-based Banc of California Inc. said it has reached an agreement with Legion Partners Asset Management LLC to avoid a proxy battle.

By Peter J. Brennan March 14, 2017 10:15 a.m. share »
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Tilly’s Report Mixed; Shares Down

Irvine-based Tilly’s Inc. beat Wall Street expectations on revenue and earnings for the January quarter, but its shares fell about 11% to $8.80 on a downbeat forecast for the current quarter.

By Mediha DiMartino March 13, 2017 2:38 p.m. share »
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PIMCO Names 9 New Managing Directors

Newport Beach-based PIMCO, one of the world’s largest investment firms, with $1.47 trillion in assets under management, appointed nine new managing directors.

By Peter J. Brennan March 13, 2017 11:57 a.m. share »
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Alteryx Prices IPO

Irvine-based analytics software maker Alteryx Inc. will sell 9 million shares of Class A common stock valued between $12 and $14 per share under terms of its initial public offering, according to a filing today with the Securities and Exchange Commission.

By Chris Casacchia March 13, 2017 11:56 a.m. share »
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Whittier Trust Appoints Doti

Whittier Trust, a private family office in South Pasadena that serves 349 families and has $11 billion in assets under advisement, has appointed Jim Doti to its board of directors.

By Peter J. Brennan March 13, 2017 11:09 a.m. share »
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El Pollo Loco’s Sather to Retire

El Pollo Loco Holdings Inc. president and Chief Executive Steve Sather plans to retire by year-end, the company said on Thursday.

By Paul Hughes March 10, 2017 9:46 a.m. share »
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Alignment Snatches $115M

Irvine-based Alignment Healthcare secured a $115 million investment from New York-based private equity firm Warburg Pincus LLC to support its U.S. expansion.

By Sherry Hsieh March 9, 2017 10:02 a.m. share »
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County Named in New FAA Filing

Signature Flight Services Corp. filed a complaint today with the Federal Aviation Administration in response to the Orange County Board of Supervisors’ recent decision to award a contract to operate one of two fixed-based operations at John Wayne Airport to a competitor.

By Paul Hughes March 7, 2017 3:20 p.m. share »
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Del Taco Adds in Fla., Ga.

Del Taco Restaurants Inc. in Lake Forest said franchisees would open 10 restaurants in West Palm Beach County, Fla., a new market for the fast food chain, and six in Georgia, over the next several years.

By Paul Hughes March 7, 2017 2:22 p.m. share »
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Clean Energy Shares Jump on Q4

Shares of Clean Energy Fuels Corp. surged in afterhours trading after the Newport Beach-based company reported sales and adjusted earnings in the fourth quarter that easily beat Wall Street expectations.

By Chris Casacchia March 7, 2017 1:45 p.m. share »
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Bank Shifts Funds for Stadium Deal

Irvine-based Banc of California plans to reallocate $3.5 million in sponsorships to partially offset the costs for the naming rights to the new $350 million stadium of the Los Angeles Football Club.

By Peter J. Brennan March 7, 2017 12:02 p.m. share »
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Capital Bank Promotes Execs

San Juan Capistrano-based Capital Bank promoted Danna Murphy to chief operating officer, a new position, in addition to her role as chief financial officer.

By Peter J. Brennan March 6, 2017 3:26 p.m. share »
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CoreLogic Names Martell CEO

Irvine-based CoreLogic has named Frank Martell its new president and chief executive.

By Mark Mueller March 6, 2017 12:22 p.m. share »
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CoreLogic’s Nallathambi Dies

CoreLogic President and Chief Executive Anand Nallathambi died after a brief illness, the company said.

By Mark Mueller, Paul Hughes March 3, 2017 6:20 p.m. share »
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Harbor Audit Asks Money Questions

An audit of some services provided by an outside operator at Dana Point Harbor couldn’t validate the firm’s reported gross receipts at the facility and said its “rent payments are not calculated or reported in accordance with lease agreements” the operator has with the County of Orange, which owns the harbor, the county auditor said in a report.

By Paul Hughes March 3, 2017 11:51 a.m. share »
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January Unemployment Up

OC’s unadjusted unemployment rate rose to 3.9% in January from revised 3.5% in December and below the 4.1% reported in the same period last year, the state Employment Development Department said.

By Peter J. Brennan March 3, 2017 10:49 a.m. share »
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Boston Buyer for Wet Seal IP

Gordon Brothers Brands LLC in Boston, a 114-year-old restructuring and investment firm, bought the Wet Seal name and other intellectual property for $3 million during a March 2 auction, according to documents filed today in the United States Bankruptcy Court for the District of Delaware.

By Mediha DiMartino March 3, 2017 8:32 a.m. share »