Orange County Business Journal

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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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Other items of interest Orange County Business Journal Vol. 38, No. 20

Tesla Motors Inc. plans to open a showroom and service center in Buena Park this summer, its second in Orange County.

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Other items of interest Orange County Business Journal Vol. 38, No. 19

Conan Hayes, a cofounder of Costa Mesa-based apparel company RVCA, was charged with grand theft in a case involving the financing of a house in Costa Mesa.

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Other items of interest Orange County Business Journal Vol. 38, No. 18

San Clemente-based Stance Inc. signed a licensing agreement to become the official sock brand for the National Basketball Association. Financial terms of the multiyear deal, which kicks off with the 2015 Samsung NBA Summer League in July, were undisclosed.

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Other items of interest Orange County Business Journal Vol. 38, No. 17

Tilly’s Inc. started a search for a new chief financial officer to replace Jennifer Ehrhardt, who’s leaving in June to “pursue other professional interests.”

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Other items of interest Orange County Business Journal Vol. 38, No. 16

The U.S. Department of Education fined a subsidiary of Santa Ana-based Corinthian Colleges Inc. $29.7 million for alleged misrepresentation of job placement rates in 947 cases by San Francisco-based Heald College.

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Other items of interest Orange County Business Journal Vol. 38, No. 14

California State University-Fullerton President Mildred Garcia was named to a national commission that will seek “practical solutions” to the increasing cost of a college education, the university said.

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Other items of interest Orange County Business Journal Vol. 38, No. 13

Quiksilver Inc. promoted Pierre Agnes from president to chief executive as part of a shakeup in the company’s top echelons.

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Other items of interest Orange County Business Journal Vol. 38, No. 12

Irvine-based Kia Motors America Inc. recalled 208,858 of its Soul and Soul EV models due to a problem with the gas pedal, according to the National Highway Traffic Safety Administration.

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Other items of interest Orange County Business Journal Vol. 38, No. 11

The Walt Disney Co. said it has no plans for a third theme park at the Disneyland Resort, dispelling long-running rumors, according to the Orange County Register.

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Other items of interest Orange County Business Journal Vol. 38, No. 10

The Orange County Automobile Dealers Association in Newport Beach announced its 2015 board of directors.

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Other items of interest Orange County Business Journal Vol. 38, No. 9

Asics America Corp. said it surpassed $1 billion in sales for the first time last year, a 14.9% year-over-year increase.

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Other items of interest Orange County Business Journal Vol. 38, No. 8

Irvine-based Mazda North American Operations announced the winners of its 2015 Mazda Gold Cup award—four of them based in Orange County.

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Other items of interest Orange County Business Journal Vol. 38, No. 6

The company that plans to buy 50 campuses of Santa Ana-based Corinthian Colleges Inc. said it would forgive $480 million in private student loans in exchange for federal approval for the deal, according to a news report.

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Other items of interest Orange County Business Journal Vol. 38, No. 5

Walt Disney Parks and Resorts notified the state Employment Development Department on Jan. 15 that it will lay off 85 employees from a Fullerton location, effective May 29.

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Other items of interest Orange County Business Journal Vol. 38, No. 3

Other items of interest Orange County Business Journal Vol. 38, No. 3

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Other items of interest Orange County Business Journal Vol. 38, No. 2

Wet Seal Inc. hired restructuring lawyers and may file for bankruptcy as early as next week, sources familiar with the matter told the Wall Street Journal.

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Other items of interest Orange County Business Journal Vol. 38, No. 1

Orange-based First Security Business Bank was acquired by San Diego Private Bank on undisclosed terms.

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Other items of interest Orange County Business Journal Vol. 37, No. 51

Five Orange County community colleges cracked the top-25 in a national survey of enrollment growth, according to a report by Community College Week that was based on data from the federal National Center for Education Statistics in Washington D.C. Fullerton College was the fastest-growing community college in the country between fall 2012 and fall 2013 for schools with at least 10,000 students.

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Other items of interest Orange County Business Journal Vol. 37, No. 50

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Other items of interest Orange County Business Journal Vol. 37, No. 49

The family of retired Air Force Gen. William Lyon plans to give $150,000 to the Center for Oral and Public History at California State University-Fullerton, the school said.

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Other items of interest Orange County Business Journal Vol. 37, No. 48

Wet Seal Inc. hired Houlihan Lokey Capital in Los Angeles and former Tilly’s Inc. executive William Langsdorf to “identify and analyze potential strategic and financial alternatives.”

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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.

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Other items of interest Orange County Business Journal Vol. 37, No. 46

Knott’s Berry Farm in Buena Park will introduce a 4-D interactive ride next year in its Boardwalk section. Voyage to the Iron Reef riders will play the role of trying to rescue the park from mechanical sea creatures attempting to destroy it.

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Other items of interest Orange County Business Journal Vol. 37, No. 45

The Wet Seal Inc. in Foothill Ranch said in its Securities and Exchange Commission filings that its cash balance for the fiscal quarter ended Nov. 1 was approximately $19.1 million.

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Other items of interest Orange County Business Journal Vol. 37, No. 44

Irvine-based Kia Motors America Inc. will continue as the Official Automotive Partner of the National Basketball Association, and its K900 sedan will take on the role of the league’s official luxury vehicle.

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Other items of interest Orange County Business Journal Vol. 37, No. 43

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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.

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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).

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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.

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Veteran Orange County medical device executive James V. Mazzo was added to a federal grand jury indictment on insider trading charges, the Department of Justice said.

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361 Degrees International Ltd., which bills itself as the second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

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

Costa Mesa-based Pacific Mercantile Bancorp promoted Robert Sjogren to chief operating officer. He will continue serving as general counsel. Sjorgen previously served as chief risk officer and general counsel of Carpenter & Co., an Irvine-based bank advisory firm. Pacific Mercantile is the parent company of Pacific Mercantile Bank, which is among the largest banks with headquarters in Orange County, with about $1 billion in assets as of June 30.

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Other items of interest Orange County Business Journal Vol. 37, No. 36

University of California President Janet Napolitano nominated Howard Gillman for the University of California-Irvine’s chancellor post.

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Other items of interest Orange County Business Journal Vol. 37, No. 35

Southwest Airlines will start nonstop flights beginning Nov. 2 from John Wayne Airport to Dallas.

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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.

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Other items of interest Orange County Business Journal Vol. 37, No. 33

Wet Seal Inc. celebrated the opening of 31 Wet Seal Plus stores across the country, including one Orange County location at The Shops at Mission Viejo.

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Other items of interest Orange County Business Journal Vol. 37, No. 32

Evolv Sports & Designs LLC said Bruckmann, Rosser, Sherrill & Co. in New York acquired a majority stake in the Buena Park-based manufacturer of climbing footwear.

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Other items of interest Orange County Business Journal Vol. 37, No. 31

The Chapter 11 plan for Costa Mesa-based Fisker Automotive Inc. got approval from the United States Bankruptcy Court for the District of Delaware. Wanxiang America Corp. bought the luxury hybrid automaker in February for $149.2 million in a bankruptcy auction and said it wanted to resume production of Fisker’s Karma sedan and a second-generation model.

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Newport Beach-based hotel sales and marketing company Preferred Hotel Group said it produced $420 million in reservations for member hotels in the first six months of the year, including 41 hotels added to its roster. Member hotels grew room nights 18% and bookings by 20% in the year-over-year period. The Business Journal estimates the company’s 2013 revenue at $70 million.

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Other items of interest Orange County Business Journal Vol. 37, No. 29

Boeing Co. won a Department of Defense contract to design a robotic plane to place satellites in space, according to the Orange County Register.

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