SERVICES

Potbelly’s 4 in OC, Finally

Potbelly Corp. looks to finally open in OC with four franchised locations, starting with one in Irvine, early next year.

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OC Hotels’ YTD Strong

The local hotel market continued strong in the first six months of the year, compared with the same period last year, with average daily rates of $194; revenue per available room about $156, and occupancy of more than 80%.

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Tech and Tax Lift CorVel’s Insurance Business

Shares of Irvine’s CorVel Corp. surged 4.8% to $57.35 in after hours trading Tuesday after the insurance managed service provider reported first-quarter earnings rose 35% to 62 cents a share. Shares gave back those overnight gains in midday trading Wednesday.

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Bixby Land Creates UCI Endowment

Real estate firm Bixby Land Co. in Newport Beach has given $100,000 to the University of California-Irvine’s Paul Merage School of Business to create an endowment fund at the Center for Real Estate.

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Hospitality Platform Names CEO

BirchStreet Systems Inc. in Newport Beach promoted Stephen Markle to chief executive, succeeding founder Sushil Garg.

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BJ’s Up

BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach reported net income of $16.9 million, up 76% year-over-year, on revenue of $287.6 million, up 8%, in its most recent quarter.

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Del Taco Quarter Mixed

Del Taco Restaurants Inc. (Nasdaq: TACO) reported $4.2 million in net income, down 20% year-over-year, on $117.8 million in revenue, up 8.5%, in its most recent quarter.

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John Wayne Up 5% in June

John Wayne Airport passenger traffic in June rose about 5% to 950,000, compared with the same month last year; year-to-date traffic was 5.24 million.

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True Acquires Chef’d Assets

Newport Beach-based True Family Enterprises acquired the assets of meal kit company Chef’d on undisclosed terms.

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Long Beach Air Traffic Up 12%

About 350,000 passengers moved through Long Beach Airport in June, up 12% compared with the same month last year.

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OCDE Gets $15M

Orange County Department of Education received $15 million from the state to expand the California Multi-Tiered System of Support, a statewide program for “the academic, behavioral and social needs of students,” a press release said.

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OC Hotel Development Steady; More to Come

Three new Orange County hotels with 445 rooms opened in the first half of 2018, according to data from Irvine hotel broker-consultant Atlas Hospitality Group.

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Pizza Franchise Developer Ready

Mountain Mike’s Pizza LLC in Newport Beach said Robofran Development LLC expects to sell 40 franchises over the next 10 years as an area developer in Riverside and parts of San Bernardino Counties.

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FBO Promotes One, Hires One

ACI Jet promoted Joe Daichendt to senior vice president over its fixed-base operations, a new role at the company, and named Nathen Steiger general manager of its FBO facility at John Wayne Airport. Daichendt will still be located at the FBO here.

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Unemployment Rises to 3.3%

Orange County’s unadjusted unemployment rate rose to 3.3% in June, up from a revised 2.6% in May and down from 3.7% a year ago, according to the state’s Employment Development Department.

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