Orange County Business Journal

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Addendum for May 23, 2016

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Other items of interest Orange County Business Journal Vol. 39, No. 20

Newport Beach-based Palace Entertainment Holdings LLC’s $430 million in debt is expected to be repaid as a result of its parent company’s recent initial public offering.

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Other items of interest Orange County Business Journal Vol. 39, No.19

Personal finance website WalletHub found that Irvine has the workforce with the highest percentage of college-educated workers among the 150 most populous U.S. cities: 66%, almost six times higher than the lowest percentage: 12% in San Bernardino.

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Other items of interest Orange County Business Journal Vol. 39, No.18

Midlothian, Texas-based Ennis Inc. said it plans to sell Alstyle Apparel LLC in Anaheim to the newly formed Alstyle Operations LLC for $76 million in cash and $12 million to cover a 60-month equipment lease.

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Other items of interest Orange County Business Journal Vol. 39, No.17

Marshall B. Ketchum University Provost Morris Berman will receive the 2016 Lifetime Achievement Award from the Association of Schools and Colleges of Optometry at the association’s annual leadership luncheon in Boston in June.

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Other items of interest Orange County Business Journal Vol. 39, No.16

Los Angeles-based manufacturer American Apparel Inc. laid off more than 80 people at its Garden Grove factory, a number that could grow to 150, according to news reports.

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Pacific Sunwear of California Inc. in Anaheim filed for bankruptcy protection and said it will convert debt into equity for creditor Golden Gate Capital.

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Other items of interest Orange County Business Journal Vol. 39, No.14

The Wet Seal LLC in Irvine hired Judd Tirnauer as executive vice president and chief financial officer, effective May 1.

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Other items of interest Orange County Business Journal Vol. 39, No.13

Santa Ana College President Erlinda Martinez announced plans to retire at the end of June after 11 years at the helm. The Rancho Santiago Community College District has launched a nationwide search to fill the position.

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Other items of interest Orange County Business Journal Vol. 39, No.12

Costa Mesa-based Volcom Inc. sold Electric Visuals in San Clemente to the eyewear subsidiary’s chief executive, Eric Crane, for an undisclosed amount.

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Other items of interest Orange County Business Journal Vol. 39, No.11

Mission Hospital named Tarek Salaway its new chief operating officer.

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Other items of interest Orange County Business Journal Vol. 39, No.10

A Netherlands-based subsidiary of American Vanguard Corp. in Newport Beach made an undisclosed investment in Belgium-based Biological Products for Agriculture.

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Other items of interest Orange County Business Journal Vol. 39, No.9

Peregrine Pharmaceuticals Inc. said it will discontinue an ongoing third-phase clinical trial of its lead compound, bavituximab, in patients with previously treated lung cancer.

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Other items of interest Orange County Business Journal Vol. 39, No. 8

Irvine-based Banc of California was named the official commercial bank of the committee trying to land the 2024 summer Olympics for Los Angeles. The Business Journal recently ranked the bank the fastest growing public midsize company headquartered in Orange County.

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Other items of interest Orange County Business Journal Vol. 39, No. 7

The Dean of Chapman University’s film school said Rob Cohen will join Don Hahn as artist-in-residence for the spring semester, which started Feb. 1.

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Two out of four Orange County-based automakers exceeded the national sales pace for new vehicles in January, according to New Jersey-based market researcher Autodata Corp. Hyundai Motor America in Fountain Valley sold 45,011 vehicles, up 1.1% over a year earlier and the best January in its history.

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Other items of interest Orange County Business Journal Vol. 39, No. 5

Huntington Beach-based Quiksilver Inc. selected a new board of directors to take over after bankruptcy proceedings end, according to documents filed with the U.S. Bankruptcy Court for the District of Delaware.

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Other items of interest Orange County Business Journal Vol. 39, No. 4

University of California-Irvine named Dr. Howard Federoff chief executive of UC Irvine Health.

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Other items of interest Orange County Business Journal Vol. 39, No. 3

Foothill Ranch-based Oakley Inc. filed a patent application for an eyeglasses concept that would project images onto an insert display lens similar to Google Glass, the Orange County Register reported.

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Other items of interest Orange County Business Journal Vol. 39, No. 2

California State University-Long Beach said Brian Jersky will be provost and senior vice president for academic affairs, effective June 1, replacing David Dowell, who is retiring.

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La Jolla Group LLC in Irvine acquired an equity stake in Laguna Beach-based apparel maker Roark Revival for an undisclosed amount.

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Other items of interest Orange County Business Journal Vol. 38, No. 51

Footwear manufacturer OluKai Inc. in Aliso Viejo acquired Newport Beach-based eyewear brand Kaenon for an undisclosed sum.

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Other items of interest Orange County Business Journal Vol. 38, No. 50

News reports said Foothill Ranch-based Oakley Inc. will eliminate more jobs following a 170-job trim earlier this year.

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Other items of interest Orange County Business Journal Vol. 38, No. 48

Irvine City Council gave conditional approval for a request by the Anaheim Ducks hockey team to build an ice rinks and training center at Great Park, according to the Orange County Register.

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Other items of interest Orange County Business Journal Vol. 38, No. 47

Lost Holdings in Irvine selected former Rip Curl executive Rick Petri as president, a new position.

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Other items of interest Orange County Business Journal Vol. 38, No. 46

Marshall B. Ketchum University in Fullerton said Edward Fisher will be dean of its new College of Pharmacy, effective Jan. 4.

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Other items of interest Orange County Business Journal Vol. 38, No. 45

Billionaire hedge fund manager George Soros reportedly pulled the $500 million investment he made about a year ago in a fund managed by Bill Gross at Janus Capital Group Inc.

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Other items of interest Orange County Business Journal Vol. 38, No. 44

Kia Motors Corp.’s logo will appear on player jerseys during the National Basketball Association’s next two All-Star games—in Toronto in 2016 and Charlotte, N.C., in 2017.

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Other items of interest Orange County Business Journal Vol. 38, No. 43

University of California-Irvine is ranked No. 31 on Bloomberg BusinessWeek’s list of full-time master’s in business degree programs.

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Other items of interest Orange County Business Journal Vol. 38, No. 42

Oaktree Capital Management LP’s turnaround plan for Quiksilver Inc. calls for combining the Huntington Beach-based footwear and apparel company with Australia-based Billabong International Ltd., a “source close to the situation” told the New York Post.

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Other items of interest Orange County Business Journal Vol. 38, No. 41

Disneyland raised prices for annual passes for the second time in less than a year.

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Other items of interest Orange County Business Journal Vol. 38, No. 40

The former Fisker Automotive and Technology Group is now Karma Automotive.

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Other items of interest Orange County Business Journal Vol. 38, No. 39

The Disneyland Resort in Anaheim could benefit from an investment Burbank-based parent Walt Disney Co. has made in a virtual reality filmmaker.

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Other items of interest Orange County Business Journal Vol. 38, No. 37

Eight Orange County universities were ranked on the U.S. News & World Report 2016 “Best Colleges” lists. The highest ranked local schools in their categories were University of California-Irvine and Chapman University in Orange.

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Other items of interest Orange County Business Journal Vol. 38, No. 36

Quiksilver Inc. in Huntington Beach is holding discussions with potential buyers in an effort to avoid bankruptcy and keep its stores, Bloomberg Business reported, citing sources close to the matter. The apparel and footwear manufacturer last month appointed Peter J. Solomon Co. in New York as an adviser.

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Other items of interest Orange County Business Journal Vol. 38, No. 35

Chapman University has put off a plan to expand its campus by 17 acres and add about 3,000 students, according to the Orange County Register.

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Disneyland and its counterpart in Florida will get a dedicated “Star Wars” section, Disney Chief Executive and Chairman Bob Iger announced at the company’s D23 Fan Expo in Anaheim (see related graphic, page 22).

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Other items of interest Orange County Business Journal Vol. 38, No. 33

Raj Manufacturing LLC in Tustin changed its name to Raj Swim LLC to better showcase the company’s culture.

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Other items of interest Orange County Business Journal Vol. 38, No. 32

Pacific Investment Management Co. said Securities and Exchange Commission staff are proposing the agency take civil action against the firm.

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Other items of interest Orange County Business Journal Vol. 38, No. 31

Cypress-based Mitsubishi Motors North America Inc. said it plans to end U.S. production.

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Other items of interest Orange County Business Journal Vol. 38, No. 30

Attorneys for former students of Santa Ana-based Corinthian Colleges Inc. are asking a court for permission to file a $2.5 billion claim against the bankrupt former operator of for-profit schools, the Wall Street Journal said.

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Other items of interest Orange County Business Journal Vol. 38, No. 29

Hyundai Motor America Inc. in Fountain Valley launched a Hyundai Recognized Collision Repair Center program, which will be administered by the Laguna Hills-based Assured Performance Network.

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Other items of interest Orange County Business Journal Vol. 38, No. 28

The Anaheim City Council voted 3-2 to extend by 30 years an admission ticket tax exemption for Disneyland and Disney California Adventure.

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Other items of interest Orange County Business Journal Vol. 38, No. 27

Walt Disney Co. proposed a $1 billion expansion of its Disneyland theme park in Anaheim that would include new attractions, parking and other infrastructure improvements—and it wants an extension on an exemption against any future entertainment taxes in the city in exchange.

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Other items of interest Orange County Business Journal Vol. 38, No. 26

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Other items of interest Orange County Business Journal Vol. 38, No. 25

Kia and Hyundai—both of which keep their U.S. headquarters in Orange County—rose to the top of J.D. Power and Associates’ “Initial Quality Study,” which gauges vehicles’ quality based on responses of more than 80,000 people who bought or leased a 2015 model vehicle.

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Other items of interest Orange County Business Journal Vol. 38, No. 24

Disneyland Resort pumps more than $5.7 billion into Southern California’s economy each year through its payroll, state and local taxes, and area spending by resort visitors, according to a study commissioned by Walt Disney Parks and Resorts.

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General Atlantic in New York said it acquired a majority stake in Irvine-based Too Faced Cosmetics from Weston Presidio for an undisclosed amount. The deal is estimated at $500 million, according to Women’s Wear Daily.

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Other items of interest Orange County Business Journal Vol. 38, No. 21

Frost Data Capital, a San Juan Capistrano-based investment firm and startup incubator, joined other venture investors to back Maana, a developer of big-data search engine technology.

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Other items of interest Orange County Business Journal Vol. 38, No. 21

Frost Data Capital, a San Juan Capistrano-based investment firm and startup incubator, joined other venture investors to back Maana, a developer of big-data search engine technology.

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