Orange County Business Journal

FINANCE

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

Windjammer Sells Portfolio Company

Newport Beach-based buyout firm Windjammer Capital Investors agreed to sell its portfolio company, BBB Industries LLC, to an investment firm in London on disclosed terms.

Palace Entertainment Sells 15 Parks

Newport Beach-based leisure park owner and operator Palace Entertainment Inc. sold 15 of its entertainment center locations to Apex Parks Group in Aliso Viejo on undisclosed terms.

Chinese Investor Buys Fullerton Center

A Chinese real estate investor bought the 163,514-square-foot Amerige Heights Town Center in Fullerton.

Laguna Boasts Biggest Home Price Tag So Far in 2014

Overall Luxury Sales Still Off 5% From Last Year

Almost 200 $4 million-plus homes sold in Orange County from Jan. 1 through Sept. 1, about a 5% drop overall from the same period last year, according to real estate market aggregator DataQuick.

Transcatheter Heart Valves Dominate TCT Meeting

Edwards’, Medtronic’s Devices Part of Discussion

Transcatheter heart valves, including those by Irvine-based Edwards Lifesciences Corp., took center stage at a large interventional-cardiology meeting this month in Washington, D.C.

North OC Office Market Slow in Q2, Industrial Healthy

The North Orange County office market’s vacancy rate ended the second quarter at 15.3%, the result of absorption taking a hit at the beginning of the year, fueled mostly by three large move-outs totaling approximately 440,000 square feet.

Palm Desert Land Eyed for $350M Quiksilver Hotel

Matteson Capital in Talks To Buy City-Owned Land

More details are emerging about one of the first big local hotel developments that will have ties to Huntington Beach-based apparel manufacturer and retailer Quiksilver Inc.

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Unemployment Rate, Jobs Fall

Orange County’s unemployment rate dipped to 5.4% in August despite a decrease of 1,900 jobs over the month.

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Group Pays Off $3.86M Worth of Corinthian Students’ Debt

An offshoot group of the Occupy Wall Street movement paid off $3.86 million in loans owed by 2,761 students of a Corinthian Colleges Inc. school, according to reports.

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Entertainment Parks Operator Sells 15 Locations

Newport Beach-based leisure park owner and operator Palace Entertainment Inc. has sold 15 of its entertainment center locations to Apex Parks Group in Aliso Viejo.

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Autobytel Increases Share Buyback Plan

Autobytel Inc.’s board of directors has approved an additional $1 million common stock repurchase program, increasing the total planned amount to $3 million.

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U.S. Agency Sues Corinthian

The Consumer Financial Protection Bureau today sued Santa Ana-based Corinthian Colleges, Inc. and alleged it engaged in “illegal predatory lending.”

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Johnny Rockets Launches Smaller Sites

Aliso Viejo-based Johnny Rockets Inc. said it would develop several types of smaller restaurants and work with an outside company to develop some of them, according to reports.

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Windjammer Sells Auto Parts Maker

Newport Beach-based buyout firm Windjammer Capital Investors has agreed to sell its portfolio company BBB Industries LLC to an investment firm in London.

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Federal Judge Grants Allergan Injunction Hearing Request

Allergan Inc. said today that a federal judge has set an Oct. 28 hearing for a preliminary injunction against hostile suitors Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan to Cut 129 Irvine Jobs

Irvine-based Allergan Inc. has filed papers with state officials saying it will lay off 129 employees.

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Oculus Co-founder Gives $31M

The cofounder and chief executive of Irvine-based Oculus VR Inc. has pledged $31 million to the University of Maryland-College Park to build a new computer science building focused on virtual reality, according to a report.

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RSM Smoothie Seller Plans 58 Locations

Bowl of Heaven plans to add 58 new franchised locations in Orange County, Los Angeles, San Diego, San Francisco and Las Vegas, the company said.

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PE Firm Invests in Propane Engine Maker

Newport Beach-based private equity firm Solis Capital Partners LLC has made an equity investment in LEHR Inc., a manufacturer of propane-powered engines and tools for home and commercial uses.

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Telogis Gets Funding From VC Firm of Ford Motor Chairman

Aliso Viejo-based software maker Telogis Inc. has secured a strategic investment from a Detroit venture capitalist firm co-founded by William Clay Ford Jr., the executive chairman of Ford Motor Co. and the son of the owner of the Detroit Lions.

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Wet Seal Shares Fall on Q2 Loss

Shares of the Wet Seal Inc. tumbled 11% to 60 cents and a market value of $51.2 million in after-hours trading on Wednesday after the teen and contemporary retail chain reported a bigger-than-expected second quarter loss.

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Startup Raises $5M, Enters VR Deal

A Laguna Beach startup that specializes in virtual reality content has raised $5 million from private investors and entered a partnership with Oculus VR Inc. and Samsung in one of the latest developments to hit technology’s hottest emerging consumer segment.

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Microsemi Makes Small Buy

Aliso Viejo-based Microsemi Corp. announced an agreement today to purchase a Santa Rosa chipmaker and also revealed plans to repurchase up to $100 million of its common stock.

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Alphaeon Buys Canadian Company

Newport Beach-based Alphaeon Corp. said today that it is buying Clarion Medical Technologies Inc., a Canadian aesthetic medicine company.

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Alignment Healthcare Makes Deal

Irvine-based Alignment Healthcare LLC said today that it acquired Citizens Choice Health Plan for an undisclosed amount.