OCBJ WEEKLY EDITION
Future Ads LLC, an Irvine-based advertising technology company, will combine with Jersey City, N.J.-based Kitara Media Corp., which focuses on video advertising. The transaction is expected to close by Dec. 31.
Irvine-based Sabra Healthcare REIT Inc. said it bought eight properties in three states for $59.1 million.
Four University of California-Irvine materials science and engineering researchers will receive $1.3 million from the National Science Foundation for work that could be used to develop lung disease treatments.
Darden Restaurants Inc., the parent company of Irvine-based Yard House USA Inc., named President and Chief Operating Officer Gene Lee Yard House’s interim chief executive.
Other items of interest Orange County Business Journal Vol. 37, No. 42
The Wet Seal Inc. said it will cut 78 filled and open positions, including 66 at its Foothill Ranch corporate office, a 24% decrease, and 12 at the store management level, a 20% drop.
Agent Says Fewer Modern Features Offset by Assets
The historic mansion perched high above a private cove in Laguna Beach at 2592 Coast Highway is reminiscent of an old-time movie setting with its dramatic location overlooking the ocean.
Plus Good Clinical Trial News, Valve’s US Release
Irvine-based heart valve maker Edwards Lifesciences Corp.’s pipeline and positive second-quarter news recently landed it an upgrade from Chicago-based Zacks Investment Research to a “buy” ranking.
Major Snowboarders Tell Their Stories
Oakley Inc. followed some of the biggest names in snowboarding—Shaun White, Mark McMorris, Ståle Sandbech, Jake Blauvelt and Nicolas Müller—down the slopes in Finland, British Columbia, Norway and Japan to produce “Snowboarding: For Me.”
Oct. 20-28, 2014
This week's business and other event listings.
Activity in Orange County’s low-rise office sector continued its positive momentum in the second quarter, generating 166,503 square feet of positive net absorption. That brought the year-to-date net absorption total to 162,554 square feet.
Acorns’ Product Follows 60,000 iOS Downloads
Newport Beach startup Acorns, established by OC investment banking pioneer Walter Cruttenden and his son Jeff, has launched an Android app in its efforts to bring microinvesting to the masses.
24,000-SF Lease Near Top For Medical Offices in ’14
A new medical practice specializing in spine and sports medicine has signed a big lease in an Orange office next to St. Joseph Hospital and Children’s Hospital of Orange County.
Sales and leases of offices, industrial buildings, retail space and apartments
Terra Enterprises Inc. sold the Birch Corporate Center in Brea to SOC Resources Inc. for $10.1 million.
OC Emerges as Hub
One minute you’re on stage with Coldplay.
EDUCATION: OC schools aim to breed viable commercial enterprises
Orange County colleges and universities are going beyond education to cultivation.
REAL ESTATE: Buys out early investor as next phase of project nears
The developer of the Great Park Neighborhoods in Irvine is increasing its ownership stake in the massive project at the former El Toro Marine Corps air station, where a new batch of residential, commercial and park construction is about to begin.
SPORTS: Apparel entrepreneur now partner in Sacramento franchise
Raj Bhathal is a key player in the NBA’s bid to extend its brand to his native India.
REAL ESTATE: 4-story office planned next to Mission Hospital
A four-story medical office development is being planned for a spot across the street from Mission Hospital in Mission Viejo in the latest big real estate deal involving property next to the St. Joseph Health-run facility.
Trend Comes With Economic Recovery
Enrollment in master of business administration programs serving Orange County fell 11% over the past year while the number of graduations was up at some schools.
Research Meets Real Life In Industry Applications
The ivory tower is lowering the drawbridge as Orange County’s college campuses more directly connect their research and education efforts with business concerns.
EDUCATION: Research, Charity, Social Change Programs Up
Some of the smaller colleges and universities in Orange County are increasing nonprofit work, ranging from research and study—already within the scope of a school—to local charitable efforts and global social change.
Would-be raiders Valeant Pharmaceuticals and Bill Ackman appear to be running out of room for their argument that Allergan CEO David Pyott and his fellow board members overlook shareholders as they fight the hostile bid for the Irvine-based drug maker.
Further Integrate ‘Practice Ready’ Trend in Training
The “practice-ready” trend in law schools that began taking shape locally last year heated up this summer when the American Bar Association House of Delegates revised its Standard 303 to increase the number of credit hours.
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.”