OCBJ WEEKLY EDITION
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.
MEDIA: Main Street Films hopeful about latest flick
Main Street Films Inc. had a big weekend.
Anaheim-based Firstline Security Inc. has expanded its facilities in Orange County and San Diego in line with its fast-growing business.
Combine for 1% Increase To About 3 Million Residents
Orange County cities continued growing last year, combining for a net 1% increase in population to about 3 million.
630 Jobs Lost As Verizon, Time Warner Cut Costs
Two cost-cutting moves fueled a significant drop in local employment among Orange County’s largest telecommunications companies in the past year.
Irvine-based IT consultancy and service provider Trace3 promoted Tyler Beecher to chief executive.
Foothill Ranch-based Skilled Healthcare Group Inc. said it’s being bought in an all-stock deal by Kennett Square, Pa.-based Genesis HealthCare.
Several local companies and an executive were honored for being the “best connected to their treasured customer base” at the OC Trust Summit at California State University-Fullerton.
Irvine-based restaurant chain and franchisor LYFE Kitchen received a minority investment from Carlisle Corp. and will move to that company’s Memphis, Tenn., headquarters, according to news reports.
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.
Most Potential Buyers Live Within 75 Miles of Coast
The waterfront home on North El Camino Real in San Clemente boasts all the accoutrements buyers expect from a house with a million-dollar-plus price tag: It has direct access to the beach, hardwood floors, exquisite tile work in the kitchen, high-end stainless appliances, a luxurious spa-like master bath, and floor-to-ceiling windows in the living room that frame the blue of the ocean just steps from the brand-new brick deck.
Other items of interest Orange County Business Journal Vol. 37, No. 34
Wet Seal Inc. has until Feb. 17 to get its shares above $1 for 10 consecutive days or face delisting by Nasdaq, the exchange warned in a letter to the Foothill Ranch-based retailer.
Aug. 25-Sept. 3, 2014
This week's business and other event listings.
Personal Decision Prompts Move, New CFO Praised
Irvine drug maker Allergan Inc. has a new chief financial officer as it works to fight off hostile suitor Valeant Pharmaceuticals International Inc.
Features Fashions Inspired By Girl Pop Music Group
Look for harmony in Wet Seal Inc.’s upcoming marketing campaign—Fifth Harmony, that is.
Allocates $1M to Award Money, Resources to Users
A software entrepreneur in Irvine has launched a social networking site to make users’ dreams become reality through crowdsourcing.
Sales and leases of offices, industrial buildings, retail space and apartments
CapRock Buys Property From Western Realco
A portion of an industrial building in Tustin just off Jamboree Road near the Santa Ana (I-5) Freeway is being eyed for a creative-office development following its sale to a local investor.
MANUFACTURING: Rising craft-beer sector part of US trend
Craft beer is briskly bubbling toward the surface of Orange County’s economy as a small but growing sector catering to increasing tastes for locally made food and beverages.
Businesses Sprout to Support Burgeoning Industry
The Green Rush has hit Orange County. Several local companies, from packaging makers to grow-kit specialists, are aiming to cash in on the recreational and medicinal marijuana market that’s booming across the country despite a hazy regulatory environment.
APPAREL: Sector vet’s startup ‘deep set’ on making its name
Depactus debuted last month at the Agenda trade show in Long Beach, and it appears the San Clemente-based brand focused on young male adventurers has carved a spot for itself in the local surf apparel industry.
HEALTHCARE: 2nd FTC request for info could greatly slow, even kill deal
The hostile takeover attempt for Irvine-based Allergan Inc. by Valeant Pharmaceuticals International Inc. is moving into deeper regulatory waters, something likely to add additional months to the battle and that could even scuttle it.
REAL ESTATE: OC’s biggest public agency in talks to move to Orange
The Orange County Social Services Agency is expected to move its headquarters from Santa Ana to Orange in what would be OC’s largest new office lease of the year.
“Affiliation” continues to be more than a buzzword in Orange County’s hospital world. The latest affiliation happened this month when St. Joseph Hoag Health and Children’s Hospital of Orange County said they were creating an accountable care organization. CHOC and St. Joseph Hoag Health are going to share in the financial and medical responsibilities of managing and providing care to patients. The institutions said the affiliation’s goals include improving quality, enhancing patients’ experience, and creating “efficiencies through collectively attending to patients’ needs and avoiding unnecessary treatments.”
Kaiser Leads HMOs List, Anthem OC’s Biggest PPO
Health maintenance organizations had a year of growth in Orange County.
Delta Dental Plans Still At Top of List of 13 Plans
Managed dental care plans saw a slight drop in their Orange County membership during the past year.
Takes On UnitedHealthcare Plans, Networks for Growth
A business unit of Orange-based Word & Brown Cos. has teamed up with a health insurance behemoth as a way to fuel growth.
Audit Unit; Punishment For Noncompliant at CalOptima
Orange-based CalOptima is intensifying its work with providers to tackle a tighter government regulatory landscape.
There’s plenty to look back upon at Great Park, as recent depositions in the City of Irvine’s forensic audit of operations reveal.
REAL ESTATE: Still plans up to 1K homes in East Orange
The Irvine Company hasn’t abandoned its homebuilding plans on the northern edge of the Irvine Ranch, despite its intentions to donate a large chunk of land there to the county.
TECHNOLOGY: ViewSonic moves 90 workers from LA
Orange County has reeled in a big fish in the technology industry with the addition of ViewSonic Corp. to its strong corporate base.
RESTAURANTS: Farrell’s, Creamistry proceed separately
Farrell’s Ice Cream Parlour Restaurants’ parent, Lake Forest-based Parlour Enterprises Inc., and Irvine-based Creamistry separately said they will begin franchising.
FINANCE: Semaphore rollout helps ‘Tubers’ brand and more
Irvine-based financial services firm Semaphore is betting on the growing field of YouTube entertainment and its increasing capacity to attract brands to advertise to the younger crowd.