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).
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?
A trot around the South Coast Metro district that covers corners of Costa Mesa and Santa Ana reveals several sizeable chunks of property in a state of flux.
Sometimes the uninitiated are right even when they’re wrong about Orange County.
Not much math but plenty of tea leaves to read on the Pimco-Janus front.
The search is on for a new executive vice chancellor and provost at UCI—a job that’s about on par with a COO’s post in the business world, while the chancellor of the school functions more like a CEO.
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.
Bill Gross and big numbers go together, as our story on page 1 shows with its estimate on the value of the publicity that came with the Bond King’s jump from Pimco to Janus Capital topping $300 million.
The Insider has no dog in any fight between Bill Gross and whoever—but it now looks clear from this vantage point that a cadre of critics coordinated their condemnations of the cofounder and now ex-boss of Pimco in recent months.
Activist investor Bill Ackman has threatened to sue Allergan Inc. if the Irvine-based drug maker goes ahead with an acquisition of Salix Pharmaceuticals Ltd. in a deal that doesn’t require a vote of Allergan shareholders.
$5.5B Gain in 2 Years for 174 Fastest Growers Based in OC
There’s no shortage of numbers available to put some punch into this week’s coverage of the fastest-growing private companies based in Orange County.
This week’s special issue puts a focus on the fastest-growing private companies based in OC, with 174 entries spread over three lists, and Irvine-based Golden State Foods the largest of the bunch at $6.6 billion in annual sales (see related stories on page 1; Special Report starting on page 21).
Multiple sources tell the Insider that the Oakland Raiders have recently looked past downtown L.A. and the City of Industry to entertain the possibility of a move to the Great Park.
Gerard Widder, new GM of the Irvine Company’s Island Hotel, arrives in Newport Center with experience from several high-end Manhattan establishments, including a tenure in the same post for the flagship W.
The Dec. 18 date that’s been set for a special shareholders meeting on Valeant Pharmaceuticals’ hostile bid for Irvine-based Allergan didn’t add up to much on Wall Street, where neither company saw its shares do much last week.
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.
There’s plenty to look back upon at Great Park, as recent depositions in the City of Irvine’s forensic audit of operations reveal.
Is that a Louis Vuitton store taking shape next to Neiman Marcus at Fashion Island?
Markets Cooperate as Entries Tally $54B
All the ingredients pointed to another good year for the richest residents of Orange County: an extraordinarily strong run in stocks, continued briskness in the commercial and residential real estate sectors, and some surprising resilience in the bond market.
Members of our OC’s Wealthiest list—the centerpiece of a Special Report that starts on page 15— enjoyed a good turn in terms of their finances over the past 12 months, even with the sharp dip for the Dow Jones late last week.
National Organization Joins in $20M Commitment to College-Bound Kids in Need
Call them Simon Scholars with something extra.
The quick takeaway from last week’s Allergan action: Round 1 goes to David Pyott on points—and an acquisition would knock Valeant out cold
The Insider isn’t ready to make a flat-out prediction but will say this much on the latest turn in the Allergan-Valeant saga: It looks as though David Pyott can play for a tie while his opponents have to win—and do it in regulation time.
Sheril Liu of ReMax Premier Realty in Irvine put a clear focus on one of the ways the city—with a population a bit under 250,000—punches above its weight.
There’s been much consternation about the relatively slow pace of employment growth nationally, even with last week’s report of a big gain on jobs in June.
Here’s one way to look at things as the dust settles on last week’s action in the hostile bid for Allergan by Valeant Pharmaceuticals and Pershing Square’s Bill Ackman: Allergan boss David Pyott’s less-is-more approach on PR tops the raiders’ tendency to work the press at each turn of the drama.
How did the multibillionaire Koch brothers raise $60 million over lunch last week at the Ritz-Carlton in Dana Point?
President Barack Obama was getting close to OC as the Insider went to press, carrying the promise of plenty of memories for UCI grads set to hear his commencement address at Angel Stadium.
Look who’s feeling fresh in brand-new digs—Bill Gross, who joined the rest of the Pimco crew for hot dogs and burgers on the porch of their recently completed HQ in Newport Center last week.
The Insider notes changes in Michael Pearson’s vocabulary as Valeant’s hostile bid for Allergan wears on—and perhaps a new tone altogether in his pronouncement last week that he won’t “overpay” to get the deal done.
Here’s one perspective on Allergan as it attempts to fend off a hostile $47 billion bid by Valeant Pharmaceuticals: The drug maker could be lost to its hometown despite a laundry list of things that both have done right when it comes to fostering the company’s growth since it moved from L.A. to Irvine in the early 1970s.
Newcomers Reflect Growth of Services
Call it 10%—that’s about the turnover rate for this year’s OC 50, the Business Journal’s annual inventory of influence.
This week’s Special Issue features the OC 50, our annual inventory of influence, which has included David Pyott ever since 1998, shortly after he signed on as CEO of Allergan Inc.
California Chrome was the chalk horse heading into the Kentucky Derby on May 3, continuing a streak of OC ties that started in 2012, when CashCall Inc.’s Paul Reddam saw his I’ll Have Another win at 15-1.
Has anyone looked more the part of the 1980s corporate raider than Bill Ackman as he circles Allergan as a main character in Valeant Pharmaceuticals’ $47 billion hostile bid for the Irvine-based drug maker?
Put local lawyer John Hueston of Irell & Manella somewhere around the front of the line on Texas-based Anadarko Petroleum Corp.’s recent agreement to pay $5.15 billion to settle claims of 85 years’ worth of environmental damage caused across the U.S. by its Kerr-McGee subsidiary.
The so-called smart money says Jerry Brown is unbeatable
The advisory committee appointed by UC System President Janet Napolitano to help find a replacement for UC Irvine Chancellor Michael Drake looks light on ties to the larger OC community—business or otherwise.
No cynics allowed here, but give a bit of room for some healthy skepticism on Facebook’s $2 billion deal for Irvine-based startup Oculus VR.
$2B Deal on Heals of Google Hookup With Oakley
Orange County gave Silicon Valley and the rest of the world plenty to talk about in a 24-hour burst last week.
A company in the portfolio of Newport Beach-based entrepreneurs Victor and Janie Tsao remained slightly above its initial price of $15 per share today, with a market value of about $156 million.
Don’t be surprised if Mark Robinson surfaces once again as a key player on the national stage, now that General Motors is facing the legal music on a defect in ignition switches that appears to have kept some airbags from working and has been linked to 12 deaths.
Wisconsin Governor Scott Walker will get a dress rehearsal for any presidential ambitions he might harbor—at least the part where a candidate hits up OC’s vaunted base of GOP donors.
Eric Spangenberg must be feeling plenty flattered over the recruiting job done by UCI to land him as dean for its Paul Merage School of Business.
Jay Burress had a lot of good news to go over on his first full year as president and CEO of the Anaheim/Orange County Visitor & Convention Bureau.
Word from a lender backing Mike Lutton, Tod Ridgeway and Ron Soderling in their buy of the old Beacon Bay car wash offers a benchmark of $10 million per acre for land in Newport Center. The trio that’s operating as Newport Center Anacapa Associates
OC INSIDER Column by Jerry Sullivan
OC INSIDER Column by Jerry Sullivan
OC INSIDER Column by Jerry Sullivan
OC INSIDER by Jerry Sullivan