Orange County Business Journal

FINANCE

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

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.

Deans of Delivery

Aliso Viejo-Based Outfit Has Been Mobile Link Between Restaurants, Business Customers for 21 Years

Food delivery is a hot subject in the restaurant industry these days.

Allergan Buyer Could Make Irvine HQ For Specialty Pharma

HEALTHCARE: Boss of N.J.-based Actavis likes OC’s appeal, talent

Orange County will remain a nerve center for Allergan Inc., according to the chief executive of its future parent company.

Biggest Employers Churn Out Another Modest Increase

ECONOMY: Top 79 combine for 258,796 jobs, 17% of county’s total

Orange County’s biggest employers grew their combined workforce by 1% in the past year, a modest but steady pace of growth for the fourth straight year.

Debt Deal Puts Newport Center Values at New High

REAL ESTATE: Irvine Company takes $250M on 3 office buildings

Wells Fargo might not have its logo atop the newest office building on Newport Center Drive, but its name is on something just as important for the building: loan documents.

Habit to Hone Focus on Company-Owned Stores

RESTAURANTS: Newly public, debt-free chain targets Fla., D.C.

Habit Restaurants Inc. Chief Executive Russ Bendel said the Irvine-based fast-casual burger chain plans to grow largely by units it owns and operates, not franchises, after its Nov. 20 initial public offering.

Milk Processor Board Lands License Deals on ‘Got Milk?’

MARKETING: South OC-based trade group owns famous slogan

A classic children’s storybook starts off with, “If you give a mouse a cookie, he’s going to ask for a glass of milk.”

Nonprofit to Buy 56 Corinthian Schools

Santa Ana-based for-profit schools operator Corinthian Colleges Inc. said it will sell 56 campuses of its Everest College and WyoTech to Zenith Education Group Inc., an affiliate of Oakdale, Minn.-based student loan guarantor agency ECMC Group.

Honda Center Nets NCAA Hoops Opp

The Honda Center in Anaheim will host the West Regional of the NCAA basketball tournament in 2016, the Division I Men’s Basketball Committee announced.

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Gross-Managed Fund Gets $500M from Soros

Billionaire hedge fund manager George Soros has put $500 million in a fund managed by Bill Gross at Janus Capital Group Inc.

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Valeant, Ackman Cash Out of Allergan

Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP have slashed their stake in Irvine-based Allergan Inc. after losing a bidding war to Actavis PLC.

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OC Adds 15,800 Jobs, Unemployment Falls to 5%

Orange County employers added 15,800 jobs in October, helping push down the unemployment rate to 5%.

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NB Title Company Acquired for $36M

Newport Beach-based title insurance company Experience 1 Inc. has been acquired by Solutionstar Holdings LLC for $36 million in cash.

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Wet Seal Inc. Names Interim CFO

Wet Seal Inc. named Thomas Hillebrandt its interim chief financial officer.

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Wet Seal Inc. Names Interim CFO

Wet Seal Inc. named Thomas Hillebrandt its interim chief financial officer.

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SEC Suspends Trading of Penny Stock

The U.S. Securities and Exchange Commission said today that it halted trading in Anaheim-based Wholehealth Products Inc. and three other penny stock companies that “claim to be developing products and services in response to the Ebola [virus] outbreak.”

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Universal Protection Buys Guard Services Firms

Universal Protection Service in Santa Ana has acquired two guard services companies on undisclosed terms.

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Corinthian to Sell 56 Campuses to NonProfit

Santa Ana-based for profit schools operator Corinthian Colleges Inc. said it will sell 56 campuses of its Everest College and WyoTech to Zenith Education Group Inc., an affiliate of Oakdale, Minn.-based student loan guarantor agency ECMC Group.

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Habit Goes Public

Irvine-based Habit Restaurants Inc. went public on Nasdaq this morning priced at $18 a share and has doubled in price to about $36.