OCBJ WEEKLY EDITION
Chinese Dumpling House Delights With Each Morsel
Din Tai Fung, the famed Chinese dumpling house, opened two weeks ago at South Coast Plaza (entrance on the upper level next to Sears). I surmise that, having heard the buzz about its international reputation, the crowds will flow.
Daughter’s Accounts of Autism Led Pimco Vet, Wife on Journey
What happens when an executive who spent a career trying to stay ahead of where markets might move hears a story that leads him on a different journey?
Education Programs Aim for Neighborhoods
Luis Castillo experienced something entirely new when he was touched by the Summer at the Center program back in 1994.
HEALTHCARE: Innovation Institute gets four buildings, 263,000 SF
The Innovation Institute LLC, a La Palma-based for-profit healthcare company formed by St. Joseph Health in Irvine last year, has taken over ownership of four medical buildings surrounding Mission Hospital in Mission Viejo.
MARKETING: Manufacturing, R&D upgrades in Buena Park
Amway Corp. is expanding the Buena Park operations of its Nutrilite supplements brand with a $42 million investment for new manufacturing and research facilities.
Savvy, Tech-Smart Gen Y Maps Out Its Own Way
Look who grew up. Generation Y, born roughly between 1980 and 2000 and also known as the Millennials, is leaving its mark on everything it comes into contact with, and that includes philanthropy.
Reagan Proclamation Came After Years of Efforts
On Nov. 14, 1986, President Ronald Reagan took the podium in a room crowded with reporters, photographers, and camera operators, ready to make a proclamation about an event five years in the making.
40 Give $33M Locally Last Year, Down 9.3% From ’12
Private foundations based in Orange County gave $156.2 million overall based on their most recent data compared to $128.7 million a year ago—21.4% higher—but their local giving was down, according to data compiled by the Business Journal.
Foundations, Firms’ Charity Arms Give 3.1% More OC Cash
Total cash giving by 35 corporate foundations and company charitable arms active in Orange County dropped 6.4% from a year ago. But discounting two major, one-time giving efforts in 2012 from the largest giver on that year’s list, Wells Fargo & Co. there was a fractional boost for the year—the fourth straight of positive increases, the Business Journal’s list shows.
The Dec. 18 date that’s been set for a special shareholders meeting on Valeant Pharmaceuticals’ hostile bid for Irvine-based Allergan didn’t add up to much on Wall Street, where neither company saw its shares do much last week.
HEALTHCARE: Alta Resources seeks permanent, seasonal staff
Alta Resources Inc. is bringing its Brea office along on a major expansion, with plans to hire some 700 workers there.
HOSPITALITY: Healthcare, restaurants, golf also clients
A Newport Beach-based software provider that specializes in the hospitality industry expanded its operations in China last week with the acquisition of a company in Singapore.
FINANCE: CBC buys building for move from Costa Mesa
Commercial Bank of California has moved its headquarters from Costa Mesa to a building it has purchased in Irvine.
FINANCE: Proceeds pegged for community development projects
A Lake Forest-based lender primarily focused on community development has received $100 million through bond debt backed by the U.S. Department of the Treasury and targeted for use on projects in low-income and underserved areas.
Santa Ana-based Corinthian Colleges Inc. said it would sell some assets to raise money to fund the winding down of its operations and, separately, that it had paid back rent its landlord said it owed.
Beacon Resources LLC in Newport Beach was acquired by Woodland Hills-based professional services firm DLC on undisclosed terms.
Australia-based Billabong International Ltd. said it plans to sell its surf apparel retailer Swell.com in Irvine to a consortium of investors in a spinoff that also includes a 51% sale of SurfStitch, its other e-commerce business.
Aliso Viejo-based WaveTec Vision Systems Inc. will be bought by Alcon Inc., according to a statement.
Other items of interest Orange County Business Journal Vol. 37, No. 35
Southwest Airlines will start nonstop flights beginning Nov. 2 from John Wayne Airport to Dallas.
David Wilson’s Wilson Automotive Group donated a Toyota Prius c to Orangewood Children’s Foundation to celebrate the sale of its 500th car.
Sept. 1-10, 2014
This week's business and other event listings.
Analysts Like Its Recent Showing, Suit Settlement
Irvine-based heart valve maker Edwards Lifesciences Corp. received kudos on Wall Street as it continues its yearlong market surge.
Brains, Female Enter Mix Of Popular Marketing Stars
Ever wonder who designed Kia Motors America Inc.’s first electric vehicle?
Brea Building Showcases Tech Firm’s Offerings
ViewSonic Corp.’s new 25,000-square-foot headquarters in Brea was designed to showcase the company’s new line of touch-screen projectors and virtual desktops that are drawing strong demand in the classroom and at businesses.
Sales and leases of offices, industrial buildings, retail space and apartments
Civic Center Professional Building Inc. sold an office building in Santa Ana for $12 million to BW America Development LLC.
The Mid Counties industrial market hit a turning point in the second quarter as strong demand pushed supply to its lowest level in six years.
Michael Nicholas Puts Buena Park HQ on Market
Michael Nicholas Designs Inc., a family-owned furniture manufacturer in Buena Park, is expanding its manufacturing operations after buying a big industrial building in Fullerton.
Centers Turn to Clusters of Restaurants as Drawing Cards
Developers and owners of Orange County’s retail centers are increasingly going small and thinking with their stomachs to attract customers.
Food Hall Latest Twist for East End
The developer who’s driving downtown Santa Ana’s makeover is doubling down on dining.
REAL ESTATE: Tops price for big OC complexes by $100,000 per unit
A bet on Silicon Valley’s apartment market has paid off handsomely for Newport Beach-based Lyon Communities.
TECHNOLOGY: Free game on pace to bring in $100M in 1st year
Blizzard Entertainment Inc.’s first foray into free-to-play video games is turning into a big moneymaker.
Few Leases for Big Chunks of Contiguous Space This Year
The Orange County Social Services Agency practically has the market to itself as it explores a headquarters move from 888 N. Main St. in Santa Ana.
Retail sales continued to gradually improve in the second quarter, aiding the U.S. economy as local retail markets kept moving toward a full post-recession recovery.
The Orange County office market continued its healthy performance in the second quarter, indicating market stabilization and a positive trajectory, with possibly the most significant trend being the current progression of average asking lease rates.
The activity levels for the Orange County industrial market remained healthy in the second quarter, with approximately 2.2 million square feet of gross activity.
Last week had some wags wondering if Allergan CEO David Pyott might be forced into an error by spending too much on an acquisition in hopes of putting the Irvine-based drug maker out of reach of hostile pursuers Valeant Pharmaceuticals and New York hedge funder Bill Ackman.
MARKETING: Works on par with Goodby on $20M effort
Grupo Gallegos has crossed over the demographic divide to work hand in hand with one of the best-known agencies in advertising on the California Milk Processor Board’s new $20 million ad campaign.