Orange County Business Journal

FINANCE

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

Lantronix Taps OC Tech Vet

Irvine-based Lantronix Inc. named Jeffrey Benck president and chief executive.

Tease photo

OC Alzheimer’s Chapter Leaves National Group

The Orange County chapter of the Chicago-based Alzheimer’s Association has left the national group and changed its name to Alzheimer’s Orange County.

Tease photo

Ex-Allergan President Tapped by DC Drug Developer

Chase Pharmaceuticals Corp. said that it has appointed Douglas Ingram, a former president of Allergan Inc., which was based in Irvine, as its chief executive.

Tease photo

NB Investor Buys Resort in Desert Hot Springs

Newport Beach-based CCL Holdings, led by hotel investor David Chang, bought the Two Bunch Palms Resort & Spa in Desert Hot Springs.

Tease photo

Tilly’s Reports Mixed Q3

Shares of Tilly’s Inc. were down about 2% in Thursday morning trading for a market cap of $172 million after the Irvine-based apparel, footwear and accessories retailer reported results yesterday that beat Wall Street expectation on sales in the October quarter but slipped on earnings.

Tease photo

PacSun Reports Loss

Shares of Pacific Sunwear of California Inc. were down in midday trading as it reported a loss for its most recent quarter.

Tease photo

Vanguard U. to Get $2.6M Grant

Vanguard University in Costa Mesa will receive $2.57 million over five years from the U.S. Department of Education to “strengthen and expand educational opportunities for Hispanic and low-income students.”

Tease photo

Credit Unions Combine

Anaheim-based Credit Union of Southern California bought Fairview Employees Federal Credit Union in Costa Mesa on undisclosed terms.

Tease photo

UCI to Get $4.7M in Biomarker Study

University of California-Irvine will get $4.7 million in grant money to help predict the onset of Alzheimer’s disease in adults with Down syndrome.

Tease photo

LA Fitness Gets Rival’s Gyms in Ariz.

The Irvine parent of LA Fitness has added 11 gyms in Arizona in an ongoing nationwide expansion plan, according to media reports.

Tease photo

Cypress Firm Buys Atlanta Sign Maker

Christie Digital Systems USA Inc., a Cypress-based manufacturer of high-definition movie projectors, acquired Allure Global Solutions Inc. in Atlanta on undisclosed terms.

Tease photo

Nekter Enters Sacramento

Nekter Juice Bar Inc. said Ohana Juice LLC would open two franchised stores in the Sacramento market.

Tease photo

St. Joseph Health Signs Agreement with Providence

Irvine-based St. Joseph Health said today it signed a definitive agreement with Renton, Wash.-based Providence Health and Services.

Tease photo

Microsemi to Buy PMC-Sierra for $2.5B

Aliso Viejo-based semiconductor maker Microsemi Corp. said it had a “definitive agreement” to acquire Sunnyvale-based semiconductor maker PMC-Sierra Inc. for $2.5 billion in cash and stock.

Tease photo

Allergan Name to Go in $155B Pfizer Deal

Allergan PLC and Pfizer Inc. will merge in a deal worth about $155 billion.

Hip Is Hot: Costa Mesa Retail Center Draws $120M Investment

REAL ESTATE: LA firm buys into Burnham-Ward project off 405

SOCO—the hip mix of furniture, fashion, design and food tenants along the San Diego (405) Freeway in Costa Mesa—has gotten a new ownership structure and a big boost in its valuation.

Biggest Employers Pick Up Pace on New Hires

ECONOMY: 3.4% hike to 267,243 jobs; Disney keeps No. 1 spot

Orange County’s biggest employers grew their combined work force at the fastest rate in years.

Olen’s Spree: 3 Deals, 3 States, 1,000 Apartments

REAL ESTATE: Portfolio now tops 12,000 residential units

Olen Properties Corp. has spent nearly $200 million to buy three out-of-state apartment complexes this month, adding to a busy year of acquisitions for the Newport Beach-based real estate owner and developer.

IBC Apartment Sale Points to New Benchmark

REAL ESTATE: Estimate on per-unit price tops $400,000

A recently built apartment complex has traded hands in what looks to be one of the priciest per-unit deals for a multifamily property in the Irvine Business Complex.

Alphaeon Pays $59M for Device Maker

HEALTHCARE: Adds software firm on undisclosed terms

Alphaeon Corp. keeps on making deals.

Nonprofit OCTANe Seeks to Expand Prospects for Startups

STARTUPS: Seeks more VC partners; might add own fund

OCTANe’s new strategy to attract investment dollars and emerging companies to the region is showing early returns for Orange County’s vibrant startup and entrepreneurial scene.

Software Maker Raises $15.5 Million

Irvine-based Numecent received $15.5 million in Series B funding that included $4.5 million from a previous investor.

Firm Adds Attorneys, Changes Name

Costa Mesa-based bankruptcy law firm Weiland Golden LLP added William Lobel and Alan Friedman as partners and changed its name to Lobel Weiland Golden Friedman LLP.

SJC Socks, Apparel Brand Acquired

St. Louis-based Shoes.com acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.

Coastal Lux Home Sales Average 96% of Listing Price

Some Areas Even Higher— Cameo Shores at 98%

One thing appears to remain consistent in Orange County’s dynamic luxury market: Buyers are willing to pay top dollar for the expansive homes and unique estates prevalent in the communities along the coast.