OCBJ WEEKLY EDITION
HEALTHCARE: Boss of N.J.-based Actavis likes OC’s appeal, talent
Orange County will remain a nerve center for Allergan Inc., according to the chief executive of its future parent company.
ECONOMY: Top 79 combine for 258,796 jobs, 17% of county’s total
Orange County’s biggest employers grew their combined workforce by 1% in the past year, a modest but steady pace of growth for the fourth straight year.
TECHNOLOGY: Chipmaker projects ‘new cycle’ on outlays
Aliso Viejo-based chipmaker Microsemi Corp. enters a new fiscal year with a record backlog of contracts fueled by a resurgence in defense and security spending.
It seemed altogether fitting that three generations of Herberts—all Gavins, by the way—were on hand for the Business Journal’s 15th annual Family-Owned Business Awards last week (see related item, page 8; profiles of winners in next week’s edition).
REAL ESTATE: Irvine Company takes $250M on 3 office buildings
Wells Fargo might not have its logo atop the newest office building on Newport Center Drive, but its name is on something just as important for the building: loan documents.
RESTAURANTS: Newly public, debt-free chain targets Fla., D.C.
Habit Restaurants Inc. Chief Executive Russ Bendel said the Irvine-based fast-casual burger chain plans to grow largely by units it owns and operates, not franchises, after its Nov. 20 initial public offering.
UC Irvine Health has struck a deal on an affiliation with Corona Regional Medical Center, a midsize hospital just across the Riverside County line.
MARKETING: South OC-based trade group owns famous slogan
A classic children’s storybook starts off with, “If you give a mouse a cookie, he’s going to ask for a glass of milk.”
HEALTHCARE: Harrier interim; final choice expected next month
Julie Miller-Phipps says Kaiser Foundation Hospitals and Health Plan will likely stick with the familiar as it seeks to fill her role as its top executive in Orange County, where consideration of internal candidates is under way.
HOSPITALITY: National accounts, franchises spur growth
Newport Beach-based leisure parks operator Palace Entertainment Inc. has doubled food and beverage sales in seven years, the company said.
A crowd of more than 350 turned out for a Nov. 19 luncheon at the Hotel Irvine to celebrate five honorees of the Business Journal’s 15th annual Family Owned Business Awards.
Santa Ana-based for-profit schools operator Corinthian Colleges Inc. said it will sell 56 campuses of its Everest College and WyoTech to Zenith Education Group Inc., an affiliate of Oakdale, Minn.-based student loan guarantor agency ECMC Group.
The Honda Center in Anaheim will host the West Regional of the NCAA basketball tournament in 2016, the Division I Men’s Basketball Committee announced.
More than 450 Southern California business and community leaders helped raise over $900,000 to benefit Big Brothers Big Sisters of Orange County’s professionally supported one-on-one mentoring relationships with at-risk youth.
Other items of interest Orange County Business Journal Vol. 37, No. 47
The last surviving child of the founders of Knott’s Berry Farm died at 92.
Nov. 24-Dec. 3, 2014
This week's business and other event listings.
Performance of Dendreon Provenge Drug Elusive
Five years ago, the Business Journal wondered whether a “biotech beachhead” was going to take root in Orange County, an area long known for its domination by the medical device industry.
More Headset Apps To Come in Next Few Months
The virtual reality ecosystem got another boost with the recent launch of two software development kits for Samsung’s new Gear VR headset, which allows users to experience VR through an app played on Samsung’s Note 4 smartphone.
Website Promotes Bond Heavyweight’s Services
Pacific Investment Management Co. is promoting the shared strengths of its leadership team on wearepimco.com, a new website of the Newport Beach-based firm.
Sales and leases of offices, industrial buildings, retail space and apartments
Makena Resources Inc. sold a 14,458-square-foot retail property in Mission Viejo to a private investor for $8 million.
It is no surprise that with hardly any new construction on the horizon in West Orange County, the trend of increasing lease rates continued in the third quarter.
Douglas Park Lands UTI For Long-Term Lease
Sares-Regis Group’s massive Douglas Park development site in Long Beach, once a base for the aviation industry, is slowly turning into an automotive hub of sorts.
MANUFACTURING: Range from 2 people to $100M sales
The food business fills its plate as it fills ours.
Laguna Hills Nonprofit Gets Body Shops Ready for Ford’s New Truck
The all-aluminum Ford F-150 trucks are set to roll off dealer lots next month—and you can bet that some will wind up in body shops before the new-car scent wears off.
MEDIA: Crowd of 25,000 hears about 1st new franchise in 17 years
Blizzard Entertainment Inc.’s latest game in development marks another milestone for the Irvine-based company as it continues to offer new types of games in an ambitious schedule of product releases.
REAL ESTATE: Would be 6th trade in 7 years for Costa Mesa office
Stop us if you’ve heard this one before: The distinctive Costa Mesa office that once held the headquarters of ICN Pharmaceuticals Inc. and later Valeant Pharmaceuticals International could soon have a change in ownership.
HEALTHCARE: Could arrive at special meeting with two offers
A new bidder has brought a decidedly different tone to talks on a takeover of Irvine-based Allergan Inc.
REAL ESTATE: Adds mortgage, title services in wake of Weyerhaeuser deal
TRI Pointe Homes Inc. continues to build the foundation of an ambitious growth plan in 2015, despite some lingering questions over the health of the national homebuilding industry.
The Business Journal’s Jane Yu asked local bankers to discuss their and their clients’ thoughts on how to manage operations in a changing interest rate environment, where rates are expected to rise. Here are edited excerpts of their responses:
23 Together See 35% Rise To $18.5 Billion In Year
Orange County-based commercial banks have notched the biggest year-over-year asset growth in the ongoing economic recovery and even since the few years prior to the recession.
Group’s Assets to $16.9B, Despite Declines for Most
Orange County’s credit unions built assets at a faster clip over the past year, when the biggest of the group pulled most of the gains.
Are the powers that be rethinking the fate of the two hangars on the former Marine base in Tustin now that Google has signed a 60-year lease worth $1.2 billion for a similar structure and several others on surrounding grounds in the Silicon Valley?
RESTAURANTS: Recent growth, timing of offering look favorable
The Habit Restaurants Inc. in Irvine appears to have a number of factors working in its favor for an initial public offering that’s expected sometime this week, including some that reflect its strong run of recent years and others that indicate the chain is well-positioned for the future.
TECHNOLOGY: Pact with Quantum could bring stake in IP
Quantum Fuel Systems Technologies Worldwide Inc.’s new deal to supply key vehicle operations software for the relaunch of the Fisker Karma and potentially other models rekindles a relationship that had soured before the luxury automaker crashed two years ago.
HOSPITALITY: Show also hosts media on day before opening
The National Association of Music Merchants plans a “Retail Boot Camp” for music retailers on the day before its Jan. 22-25 show at the Anaheim Convention Center.
RESTAURANTS: Approach allows fast growth at limited cost
Small local restaurant companies plan to expand by franchise in 2015.
EDUCATION: Placements, demand for training strong
Caleb Everett said he has put $1 million into Career College of California and taken no salary since his Fortuna Education LLC bought it in 2010.