Orange County Business Journal

OCBJ WEEKLY EDITION

Preferred Outcome

Marketing Programs Behind Growth of Service Provider for Independent HotelsPreferred Hotel Group’s 1,600-point hotel inspection is intense.

By Kari Hamanaka February 15, 2014 midnight   $$ Share

India Link

Émigré Population Prominent Beyond Size in OC’s Community of Business

Orange County’s Indian-American community is nearly as diverse as its homeland, where myriad languages flourish in the crowded cities and secluded villages spread across the Asian subcontinent.

OC-India Connection’s 2-Way Street

Financial Services Here Look for Roles on Both Ends of Deals

A number of financial services firms in Orange County are setting themselves up as conduits for deals in India, drawn by the country’s growing upper and middle classes, a raft of highly educated workers, and a number of industries that offer potential for cross-border links.

Miami Beach, New Orleans … and Irvine

REAL ESTATE: City part of push for Marriott’s Euro-style boutique

AC Hotels by Marriott, a European-style boutique hotel brand, will include Irvine in the first wave of a development push in the U.S.

Montage Bets $100M on Boutique Trend

HOSPITALITY: Hotel in Gaslamp district of SD won’t carry resort name

Irvine-based Montage Hotels & Resorts is breaking new ground in more ways than one.

Cresa, Travers in Deal to Combine OC Operations

REAL ESTATE: Tenant-rep brokerages ‘share same DNA’

Orange County’s two largest commercial real estate brokerages that solely represent tenants in lease negotiations are combining forces.

OC Lures Professionals in More Ways Than One

Chance for Independence, Creativity Part of Appeal

Sunny winters aren’t the only draw for financial industry professionals to move to Orange County from Wall Street and other finance centers on the East Coast.

Financial Firms Add Advisers, Cut Total Workforces

Reps Jump 3.4%, Overall Staff Down 5% at Top 23

Orange County’s financial advisory firms combined to deepen the pool of registered advisers here while reducing the size of their overall employment bases.

OCBJ Calendar

Oct. 27-November 5, 2014; Nov. 19

This week's business and other event listings.

Abbott Medical Optics Unveils Two New Products

FDA OK’d Their Laser Cataract Surgery Use

Abbott Medical Optics, a Santa Ana-based business unit of Chicago-based Abbott Laboratories, is introducing a pair of products for laser cataract surgeries.

Chain’s Mascot Takes Wild Ride in Pursuit of Future

Wienerschnitzel Sponsors Gibbs Racing Team in NC

Look for Wienerschnitzel’s mascot, The Delicious One, running down the motocross race track.

Inland Empire Industrial Market Has Busy Third Quarter

The Inland Empire industrial market continued to grow in total gross activity during the third quarter, maintaining an upward trend that picked up in the second quarter after a relatively slow first quarter.

Snell & Wilmer Renews Lease at Costa Mesa Tower

Law Firm Second Largest Tenant at 21-Story Office

Plaza Tower, arguably the best-known office building in Costa Mesa, is keeping one of its signature tenants.

Netlist Loses More Board Members as It Struggles

Disagreements Spur Two To Exit, Board Down to 3

The recent resignation of two board members at Irvine-based Netlist Inc. is the latest setback for the struggling computer memory products maker.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Laguna Hills-based real estate investment firm Silverado Canyon Partners sold Fairway Villas, an apartment property in Newport Beach, for $10.8 million to a private Orange County-based real estate investor.

Pac Life Adds Tea Leaves to Brew in Newport Center

Not much math but plenty of tea leaves to read on the Pimco-Janus front.

Kaiser Chief Ends Long OC Run, Heads to ATL

HEALTHCARE: No word yet on successor to veteran exec

Kaiser Foundation Hospitals and Health Plan is set to get a new top official in Orange County.

Cypress West Nears $100M With Medical Office Buy

REAL ESTATE: GE Capital backs firm’s first OC deal

Cypress West Realty Partners LLC, a Ladera Ranch-based investor in healthcare properties, has made a medical building in Rancho Santa Margarita its first local purchase.

LB Hotel Fetches $8.2M in Auction

HOSPITALITY: $124,000 per room for Best Western affiliate

A 66-room hotel in Laguna Beach is set to change hands for $8.2 million after the note securing it was sold via an Internet auction last week.

As the Takeover Turns: Advantage Valeant—Can It Hold Serve?

HEALTHCARE: Q3 boost; Allergan gives lengthy critique

Valeant Pharmaceuticals International Inc. got some traction on its hostile takeover attempt of Allergan Inc. last week, with a third-quarter earnings report reversing a weekslong dip that had dragged its bid below the market value of the Irvine-based drugmaker.

Newport Beach Ad Shop Pays Off for Philadelphia Parent

MARKETING: 160over90 built niche after landing UCLA

The Newport Beach office of Philadelphia-based advertising agency 160over90 has become a prime contributor to its parent’s performance since it decided to take a chance on Orange County three years ago.

Digital Ad Tracker’s Cake Gets New Look, Goals

MARKETING: Accelerize sells self in Nasdaq aim

Tracking digital ad campaigns is a piece of cake, according to Accelerize Inc.—its own Cake, that is.

Pacific Premier to Acquire Bank

Irvine-based Pacific Premier Bancorp Inc. has agreed to pay $71.5 million to acquire Independence Bank in Newport Beach.

Boot Barn Holdings Gives IPO Details

Irvine-based Boot Barn Holdings Inc. has announced details of its initial public offering, including the number and price of shares to be sold.

Kia Hires Multicultural Ad Shop

Kia Motors America has hired a Chicago-based advertising agency to help drive its “U.S. multicultural communication strategy as well as diversity and inclusion efforts internally and externally.”

Four Schools in Great Park Solar Project

Two universities and two community colleges in Orange County are working together on next year’s entry for the Solar Decathlon at the Orange County Great Park in Irvine.

Brea Mall Enlists Style Website to Draw Millennial Shoppers

Connecting brick-and-mortar stores with Millennials who are savvy online consumers can be a challenge.

Irvine Renewable-Energy Firm Eyes $270M Loan From China Ex-Im Bank

The Export-Import Bank of China last week signed a letter of intent to provide a $270 million loan to Irvine-based BlueFire Renewables Inc.

PHILANTHROPY

The Boys & Girls Club of Santa Ana held a grand opening and ribbon cutting on Sept. 11 for its Garage Teen Center and the renovation of the newly named Joe MacPherson Center for Opportunity.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 43

Entrepreneur Crafts Encore

AEROSPACE: Positions second company for $100 million in sales

James Downey is replicating the business model that made him one of Orange County’s wealthiest executives.

Retooled Mitsubishi Message

AUTOMOTIVE: Once figured for exit, increases sales 29.8%

Mitsubishi Motors North America Inc., despite a slim model lineup, is out to prove all the doubting Thomases wrong.

Airport Plots Out Bigger Travel Plans

TRANSPORTATION: JWA aims for more passengers, Mexico service

John Wayne Airport plans to reintroduce incentives for an airline to offer new routes to Mexico as part of its 2015 flight plan, which also includes more passengers and 15 additional flights by Southwest Airlines.

Quiksilver Cofounder Mulls His, Company’s Future

APPAREL: Board names new execs as it aims for turnaround

Robert McKnight Jr., co-founder of Quiksilver Inc., is leaving his post as the company’s executive chairman at the end of the month as the Huntington Beach-based action sports apparel and footwear manufacturer struggles with reduced quarterly revenues.

Allergan Takeover Rhetoric Intensifies Amid Skepticism

HEALTHCARE: Ackman goes on offensive, questions continue

Irvine-based Allergan Inc.’s long-running battle to stay independent marches on as hostile pursuer rhetoric heats up and many analysts express doubt about the deal going through.

Manufacturers That Survived Storm on Path of Growth

Expanding Local Plants, Adding Training Facilities

Manufacturing in Orange County is in growth mode, with many local companies—those that have weathered the recession and managed to notch consistent business gains—making investments in facility expansions and upgrading their training resources.

Companies Look to New Generation for Future

Recovery Growth, Offshore Jobs Return, Spur Hunt

Manufacturing companies and industry organizations are aggressively searching for young talent, with schools and businesses coming together to showcase advanced technologies and provide opportunities for hands-on work experience.

UCI’s Deep Bench; Evan in Snyc?; Ask Ellermeyer

The search is on for a new executive vice chancellor and provost at UCI—a job that’s about on par with a COO’s post in the business world, while the chancellor of the school functions more like a CEO.