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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OC Adds Jobs; Unemployment Down

Orange County added 14,600 jobs in February, helping drive down the unemployment rate to 4.6% from a revised 5% in January.

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Jobless Rate Up on Revised Data

Orange County’s unemployment rate ticked up to 5% as an annual revision by the U.S. Department of Labor showed 21,200 fewer jobs in January than in December, for a total of 1,510,700.

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Levy Invests $120M in Del Taco

A group led by Chicago restaurateur Larry Levy has invested $120 million in Lake Forest-based Del Taco Holdings Inc., the first step in its previously announced acquisition of the fast food chain.

Microsemi’s $389M Buy Includes Ticket to Internet of Things

TECHNOLOGY: Picks up new technology to offer chip customers

Microsemi Corp.’s latest acquisition highlights how far the company has come in a diversification effort that has taken the Aliso Viejo-based chipmaker from an aerospace and defense specialist to innovator in several fields, with a new toehold on the industrial side of the budding Internet of Things market.

Will Times Lien in on Register? Picture This on Pimco

The $4.2 million lien slapped on Freedom Communications and its flagship Register seems to carry extra significance since it came at the request of the L.A. Times, which has a claim pending on bills for past work distributing the OC daily.

Clock Ticks as Startup Drug Maker Seeks Lifeline

HEALTHCARE: BK filing follows several loan defaults

Irvine-based AtheroNova Inc. is searching for a buyer willing to extend the cash-strapped startup’s existence as it reviews early data on its effort to develop drugs to fight atherosclerosis, or hardening of the arteries.

Clean Energy Gains as Infrastructure Plan Slows

ENERGY: Q4 profit follows focus on fleets, less building

Clean Energy Fuels Corp. may have finally found a clearer path to profitability as it reins in construction costs for a nationwide plan it forged four years ago to dot major highways with natural-gas fueling stations.

Panasonic Avionics to Add Specialist

Lake Forest-based Panasonic Avionics Corp. is set to acquire a satellite communication services provider with headquarters in Australia, operations around the globe, and a specialty of working in extreme conditions.

Environmental Firms’ Work Rose 8% Last Year

Grow on Economy, Buys, Expanding Services, Goats

The largest environmental consultants with offices in Orange County billed $602 million in 2014, an 8% jump over last year’s $556 million.

First American Gets NY Title Company

Santa Ana-based First American Financial Corp. said its title subsidiary bought TitleVest Holdings Group LLC in New York City on undisclosed terms.

Ingram Micro Buys in South America

Santa Ana-based Ingram Micro Inc. said it bought businesses in Peru and Chile from Clearwater, Fla.-based Tech Data Corp., on undisclosed terms.

Fitch Affirms Strong Ratings on MemorialCare Finances

Frees System to Invest In ‘Strategic Initiatives’

Fountain Valley-based MemorialCare Health System’s solid debt ratings were affirmed this month by New York City-based Fitch Ratings Inc.

Tight R&D Market Fuels Off-Market, Non-OC Deals

The research and development market in Orange County had 70,240 square feet of negative absorption in the fourth quarter, but it remained tight with a vacancy rate of 3%.

Law Firm Makes Short Trip to New HQ at 1900 Main

Palmieri, Tyler to Move From Century Centre

Palmieri, Tyler, Wiener, Wilhelm & Waldron LLP is the latest local law firm that’s figuring out how to use less space for its operations.

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Irvine Restaurant Operator Buys Again

American Restaurant Holdings Inc. in Irvine said an affiliate bought the five Orange County locations of Costa Mesa-based Fresca’s Mexican Grill.

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Ingram to Pacific Life's Board

Newport Beach-based Pacific Life Insurance Co. said today that Douglas Ingram, former president of Allergan Inc., has been elected to its board, effective May 1.

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ReShape Raises $2M

San Clemente-based medical device maker ReShape Medical Inc. has raised $2 million, according to a Securities and Exchange Commission filing.

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Seven Honored for Entrepreneurship

Members of the Orange County business community celebrated seven winners during a luncheon Wednesday for the Business Journal’s 14th Annual Excellence in Entrepreneurship Awards.

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Pyott to Retain Chair of Allergan Foundation

David Pyott will remain chair of the Allergan Foundation, according to Actavis PLC, the Ireland-based drug maker that recently wrapped up its $72.5 billion buy of Irvine-based Allergan Inc.

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Ingram Buys in South America

Santa Ana-based Ingram Micro Inc. said it bought businesses in Peru and Chile from Clearwater, Fla.-based Tech Data Corp., on undisclosed terms.

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Microsemi in $389M Deal

Microsemi Corp. has agreed to acquire Camarillo-based networking chip maker Vitesse Semiconductor Corp. for $389 million.

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Times Gets $4.2M Lien on Register

The Los Angeles Times has been granted a $4.2 million “writ of attachment” against the Orange County Register in Superior Court, according to a news report.

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Self-Storage REITS in $145M Deal

Two real estate investment trusts affiliated with Ladera Ranch-based SmartStop Self Storage have bought 27 self-storage facilities and agreed to acquire five others for a total of $145 million from Long Beach-based DSI Properties Inc.

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El Pollo Loco to Enter Dallas

Costa Mesa-based El Pollo Loco Holdings Inc. plans to enter the Dallas market in 2016, part of an expansion plan that calls for growth to a mix of about 40 franchised and company-owned restaurants in Texas over the next several years.

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Edwards Up on Heart Valve Studies

Irvine-based Edwards Lifesciences Corp.’s shares rose today on positive results from several studies of less-invasive heart valves.