OCBJ WEEKLY EDITION
MARKETING: Grupo Gallegos tapped for return to ethnic niche
Cypress-based Mitsubishi Motors North America Inc. has tapped an advertising agency in Huntington Beach for a national campaign aimed at Latino-Americans, the automaker’s first bid to target the fast-growing ethnic niche since 2004.
ADVERTISING: Agency made for Hyundai lands NRG account
Innocean USA is diversifying its client portfolio by following a simple motto: “Think big but act small.”
REAL ESTATE: Swift on lookout for more deals in SoCal
Kilroy Realty Corp. has sold one of its few remaining office buildings in Orange County to a San Francisco-based real estate investor that’s looking to expand its holdings in Southern California.
HEALTHCARE: Joins insurer with 7 hospitals, health systems
Orange County’s hospital market is continuing its move toward networks and partnering in the age of healthcare reform.
FINANCE: First comments in public focus on new nimble
Bill Gross chose to field two questions out of nearly 200 in his first public comments as part of Janus Capital Group Inc.—and his answers to both emphasized his contention that “small and flexible” is good for an investment management firm.
Fountain Valley-based MemorialCare Health System said its MemorialCare Medical Foundation is now the sole owner of eight imaging centers in Orange County and Long Beach (see related story on page 4).
The owners of the Orange County Register have relisted for sale 14.3 acres of land that surrounds the company’s headquarters in Santa Ana.
Irvine-based storage products maker Western Digital Corp. was ordered to pay its chief rival $758 million related to a bevy of trade-secrets claims.
Irvine-based Alteryx Inc., a fast-growing data analytics software company, raised $60 million in a venture round.
The fourth annual Getzlaf Golf Shootout raised more than $345,000 to benefit CureDuchenne, a nonprofit group that raises awareness and funds research to find a cure for Duchenne muscular dystrophy.
Other items of interest Orange County Business Journal Vol. 37, No. 41
A new federal database shows Irvine-based Allergan Inc. paid doctors and hospitals $24.2 million in the last five months of last year for consulting and speaking fees, meals and travel costs, and grants, the Orange County Register reported (see related item, Insider column, page 3).
Did you know that one in four women and one in fourteen men will experience physical domestic violence in their lifetime according to the Institute of Medicine?
Eye-Device Exec Leads Aerie Financing Move
Longtime Orange County eye device executive Vicente Anido Jr.’s marching on with a new company.
Campaign Aims Vehicle At Older Millennial Parents
"It’s not a minivan. It’s a Sedona.”
Oct. 13-21, 2014
This week's business and other event listings.
The South Orange County office market performed well in the second quarter, recording 152,559 square feet of positive net absorption.
Arbela Projects 100% Sales Jump, 50 Workers
Laguna Niguel-based consultancy Arbela Technologies is getting strong demand as businesses try to improve efficiency and streamline operations.
Industrial Rents Projected To Rise 8.7% Next Year
D. F. Stauffer Biscuit Co., a York, Penn.-based maker of cookies and crackers, has signed a new deal for its bakery facility in Santa Ana in the largest reported industrial lease of the past quarter.
Sales and leases of offices, industrial buildings, retail space and apartments
A limited liability company sold the Western Avenue Cottages apartment complex in Buena Park for $1.6 million to an exchange buyer.
Edwards’ Weisner Kept Legal Aligned With Business Strategy in $1B+ Medtronic Case
Aimee Weisner was setting the strategy that led to Edwards Lifesciences Corp.’s $1 billion-plus patent lawsuit settlement against rival Medtronic Inc.
Credit some of Orange County’s biggest insurance brokers with quick adjustments to shifts in California’s corporate landscape.
MARKETING: Estimates of boost to Janus brand range upward of $300M
The $1 billion increase in market value that Janus Capital Group Inc. got on news that Bill Gross had joined the company wasn’t the only windfall for the Denver-based fund manager.
ECONOMY: Most OC execs expect revenue gains; 42% plan to add jobs
Orange County company executives started the fourth quarter with improved expectations for overall business activity, according to the latest quarterly index of business sentiments published by the Mihaylo College of Business and Economics at California State University-Fullerton.
The Business Journal’s Jane Yu asked local insurance brokerage executives to discuss their concerns about recruiting and developing talent at their firms, especially considering the anticipated retirement of baby boomers and the increasing roles of Millennials—people born roughly between 1980 and 2000— in the workplace. The executives talked of the challenges they’re encountering and the various investments they’re making to draw and nurture talent. Here are their edited responses:
Firms Benefit From Brighter Economy’s Boost to Clients
Orange County’s top insurance brokers picked up the pace in growing their revenues last year, benefiting in part from a generally improved economy that helped boost business prospects for their clients.
Bill Gross and big numbers go together, as our story on page 1 shows with its estimate on the value of the publicity that came with the Bond King’s jump from Pimco to Janus Capital topping $300 million.
REAL ESTATE: Moves U.S. HQ From Huntington Beach
The creative-office design trend is making its way to the glitzy buildings next to South Coast Plaza.
REAL ESTATE: Deals in SD, Inland Empire, Central Valley
The purchase of four offices in San Diego has capped off nearly $100 million in buys and investments in California properties for Irvine-based Bixby Land Co. over the past quarter.
It appears Irvine-based Broadcom Corp. is primed to supply a key component for the long-awaited Apple Watch.
Allergan GC Takes Team Approach for Near-Perfect Case Record
William Scarff Jr. concentrates on protecting the driving force in the drug industry: patents on major medications.
Work at O’Melveny, Other Companies, Prepared Him for Role
A glance at Christopher Lal’s appointment book for a recent Monday shows a man who has his hands in many pots at Irvine-based Tilly’s Inc.
Palace Entertainment GC Expects the Unexpected
Michael Baroni’s legal career has been like a roller coaster, with twists and turns and unexpected outcomes.
Tabaddor Took Reins of IP, Turned Department Into Profit Center
Moving from defense to offense has paid dividends for the intellectual property legal team at Irvine-based CoreLogic Inc.
Famed Italian Chef Stars At Festival This Weekend
There’s a very special event happening at the end of this week.
Nine members of the Business Journal’s annual OC’s Wealthiest list were included in the recent Forbes 400 list, which ranks and profiles the wealthiest Americans by estimated net worth.
Other items of interest Orange County Business Journal Vol. 37, No. 40
Steven Benrubi resigned from his post as Wet Seal Inc.’s executive vice president and chief financial officer, the company announced in regulatory filings. Benrubi, who has been with the Foothill Ranch-based company since 2005, will stay on until Dec. 1.
Slow Streak Over as 2 Sales Top $10 Million
The communities of Emerald Bay and Irvine Cove in Laguna Beach capture the character and charm of the California Riviera and command some of the highest sale prices for homes in Orange County.