OCBJ WEEKLY EDITION
Acquisition Final, Local Operations to Stay Intact
Questcor Pharmaceuticals Inc. made plenty of headlines in its roughly four years as an Orange County-based public company.
Does ‘Mailbox Confession’ Of Small-Business Services
Tony Orlando went to pick up his mail from a shipping and business services center in Huntington Beach and walked out with a contract to star in a commercial for UPS Store Inc.
Alleges They Reported Fake Earnings for Device
The Securities and Exchange Commission has charged Newport Beach-based equipment maker AirTouch Communications Inc. and its former chief executive and chief financial officer with misstating revenue and defrauding an investor.
Sales and leases of offices, industrial buildings, retail space and apartments
Schmid Investments LP sold an office building in Anaheim for $5.1 million to Seoul Plaza Investments LLC.
Orange County’s retail sector has yet to see a significant increase in development.
Stadium Site Will Be Turned Into Homes
Irvine-based Standard Pacific Corp. is moving ahead on a housing development at the former site of a Cactus League baseball stadium in Chandler, Ariz.
Gerard Widder, new GM of the Irvine Company’s Island Hotel, arrives in Newport Center with experience from several high-end Manhattan establishments, including a tenure in the same post for the flagship W.
MEDIA: Casanova Pendrill TV ad straddles audiences
Casanova Pendrill’s idea for Nature Valley’s new TV ad was big enough to cross the boundaries of the Latino audience it was initially intended for. That also meant stepping on the turf of McCann Erickson, its sister agency, which handles the brand’s general market account.
HEALTHCARE: Novartis unit sees acquisition as complement
Aliso Viejo-based eye device maker WaveTec Vision Systems Inc.’s operations are expected to remain largely intact as it begins a new chapter in its corporate life.
Equipment leasing company Pacific Rim Capital Inc. has expanded its headquarters in a move from Aliso Viejo to Irvine.
RESTAURANTS: Hot IPO, Texas deal spur franchisees
Costa Mesa-based grilled chicken chain El Pollo Loco continued to ride a wave of momentum that carried it from an eye-popping initial public offering in July to a master franchisee deal in August and a solid first quarterly report this month.
Irvine-based software maker Kofax Ltd. agreed to pay $34.7 million in cash for Softpro GMBH, a German company that specializes in electronic signature services and software.
The Costa Mesa-based parent of the Elephant Bar restaurant chain is slated to be bought out of bankruptcy and will be operated by a Dallas-based restaurant company.
University of California-Irvine art and technology efforts received a $100,000 boost.
Irvine-based Pacific Premier Bancorp Inc. sold $60 million worth of notes to private investors.
ECONOMY: Centerpiece of Sept. 22 Special Report
We know you’re out there. The Business Journal is producing its annual list of fastest-growing privately held companies, set to appear as the centerpiece of a Special Report in its Sept. 22 issue.
Other items of interest Orange County Business Journal Vol. 37, No. 36
University of California President Janet Napolitano nominated Howard Gillman for the University of California-Irvine’s chancellor post.
Trends, Neighborhood Facts Help Agents Sell
Orange County luxury-home clients are increasingly turning toward online sources to determine the latest in market data to help them make informed decisions about their investments in one-of-a-kind homes, according to Rick Brotherton, vice president of marketing at First Team Real Estate-Christie’s International.
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.