Michael de los Reyes

Email: delosreyes@ocbj.com
Phone: 949-833-8373 Extension: 229

Recent Stories

Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,164.31.

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Del Taco Seeks Sale-Leaseback on Top Store

DINING: Paid $7.8 million for 2,079-SF property in CM

Lake Forest-based Del Taco Restaurants Inc. is using a real estate sale-and-leaseback tactic to secure the top location in the 550-store fast-food chain.

Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,162.60.

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Cybersecurity Firm Buys in Texas

Franklin Data in Newport Beach acquired on undisclosed terms Scarab Consulting in Austin, Texas.

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Del Taco to Add 14 in Phoenix

Del Taco Restaurants Inc. in Lake Forest said two franchisees would open 14 stores in the Phoenix market.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,172.52.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,157.79.

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Windjammer Gets Lab Gear Maker

Windjammer Capital Investors in Newport Beach acquired on undisclosed terms Advanced Instruments, LLC in Norwood, Mass.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,142.80.

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Solar Servicer Buys in Berkeley

MaxGen Energy Services LLC in Costa Mesa has acquired on undisclosed terms the commercial services unit of Next Phase Solar Inc. in Berkeley.

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Midday Stock Roundup

The S&P 500 was up 2% to 2,127.50.

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Q&A

Fintech, short for financial technology, has been one of the most watched developments in the industry in the past few years. Founders, bankers and customers have said a lot about it: It’s disruptive to incumbent financial corporations, an alternative way to lend, and a new way to reach clients and conduct transactions.

Credit Unions Grow Assets 8% to $19.4 Billion

Struggle on Profits, With 1% Dip to $73 Million

It’s been a mixed year for Orange County’s credit unions as they grew assets by about 7.8% to $19.4 billion for the year ended June 30 while combining for a 1.3% decline in net income to about $73.4 million for the first six months of 2016.

Ralph’s Allumbaugh: OC Civic Leader, Newport Beach Resident

Byron Allumbaugh, a longtime chief executive and chairman of Ralphs Grocery Co. who counted deep ties to Orange County’s business community, passed away over the Oct. 29 weekend. He was 84.

Commercial Banks Grow Assets 39% to $34 Billion

Top Five Unchanged; Profits Up 31% to $138M

Orange County-based commercial banks continued strong year-over-year growth as they increased assets 39% to about $33.5 billion for the year ended June 30.

Willdan Names Three Senior Execs

Willdan Group Inc. in Anaheim named Thomas Brisbin as chairman to succeed Win Westfall who remains on the board.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,097.84.

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Microsemi Explores Sale

Microsemi Corp. in Aliso Viejo hired Bank of Montreal to find potential buyers for the company after Skyworks Solutions Inc., in Woburn, Mass., expressed interest in buying the company, according to a news report.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,093.64.

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Auto Sales App Signs Fletcher Jones

AutoGravity Corp. in Irvine signed Fletcher Jones dealerships in five markets to its mobile application-based car sales and financing venture.

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New Chief for HVAC Provider

Source Refrigeration & HVAC in Anaheim named Adam Coffey president and chief executive.

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Midday Stock Roundup

The S&P 500 was down 0.6% in midday trading to 2,099.18.

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Bank Shareholder Seeks Investigation

A major shareholder of Irvine-based Banc of California wants it to hire an independent firm to investigate possible connections with Jason Galanis, who pleaded guilty to securities fraud involving a separate company earlier this year.

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Medical Services Firm Gets $30M

ConcertoHealth in Irvine raised $30 million from current investors in a round co-led by Arboretum Ventures in Ann Arbor, Mich., and Deerfield Management Company LP in New York.

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Midday Stock Roundup

The S&P 500 was down 1.1% in midday trading to 2,103.86.

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Software Division Buys in Canada

The Lake Forest-based software development arm of Schneider Electric said it plans to acquire software development company MaxEAM in Burlington, Ontario, Canada. on undisclosed terms.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,129.57.

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KPMG Names OC Managing Partner

Accounting firm KPMG named Mark Clemens managing partner for its Orange County office in Irvine.

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OC Bank Sells Division

Irvine-based Banc of California has sold a lending division and a collection of loans for a total gain of about $10 million.

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Pacific Premier’s New Place

Streak Reaches Years, Puts Bank Atop Midsize Category

Irvine-based Pacific Premier Bancorp Inc. continued its fast growth for a fifth consecutive year.

Escalating Expansion

Fastest-Growing Public Companies Combine to Hike Revenue 75% to $25 Billion

The 47 fastest-growing public companies in Orange County are growing faster.

KPMG Names OC Managing Partner

Accounting firm KPMG named Mark Clemens managing partner for its Orange County office in Irvine.

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OC Bank Sells Division

Irvine-based Banc of California has sold a lending division and a collection of loans for a total of about $10 million.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,123.55.

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Balboa Capital Moves to Costa Mesa

Non-bank lender Balboa Capital plans to move its headquarters to Costa Mesa from Irvine.

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Opus Bank Names Board Member

Irvine-based Opus Bank appointed David King to the board of directors effective immediately.

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Pacific Mercantile Reports Loss

Costa Mesa-based Pacific Mercantile Bancorp reported a net loss of $30.5 million for its third quarter.

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Confie Buys Three Brokerages

Huntington Beach-based Confie acquired on undisclosed terms a total of three brokerages in New York, New Jersey and Texas.

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Fullerton Bullet Maker Sold

MANUFACTURING: Berger to Norwegian-Finnish buyer

Fullerton-based Berger Bullets has been sold on undisclosed terms to Nammo Group in Raufoss, Norway.

Q&A

A lot has been said about the U.S. Department of Labor’s new fiduciary rule and clients’ recent moves toward indexed investments and robo advisers. The new rule requires financial advisers to place clients’ interests before their own profits. It’s meant to protect investors from hidden fees and excessive payments that are poorly explained or concealed in fine print and that consequently lower returns on retirement savings. Many savers have started moving funds away from active investment advisers and toward computerized advisers and indexed funds because the latter methods are believed to provide comparable or better investment returns and to do better over time at a lower cost. The Business Journal’s Michael de los Reyes asked Orange County’s financial advisory firms for their insights on those issues. Here are the edited excerpts of firm leaders’ responses:

‘Gig Economy’ Fuels Startup’s IPO Plans

SERVICES: App offers way to match up for employers, part-timers

Irvine-based startup ShiftPixy plans to issue an initial public offering by the end of the year, with hopes of raising between $15 million and $50 million.

Financial Advisories Add 200 Local Reps, Up 12%

64% of Advisers at Top 5; 4 Firms Debut on List

The combined pool of registered investment advisers in Orange County grew about 12% to 1,905, and the 29 firms on the Business Journal’s list combined to employ overall staffs totaling 7,022, up 16.5%.

Bravo Sports Buys Again

Bravo Sports Corp. in Santa Fe Springs bought on undisclosed terms Nutcase Inc. in Portland, Ore., its third acquisition of a sports gear maker within the last 10 months.

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Unemployment Down at Summer’s End

Orange County’s unemployment rate fell to 4.1% in September.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,137.29.

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BJ’s Restaurants Enters New Jersey

Huntington Beach-based BJ’s Restaurants Inc. opened its first store in New Jersey in the Teterboro area.

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OC Manufacturer Sold

Irvine-based Laguna Tools Inc. has been acquired on undisclosed terms by New York private-equity firm Hudson Ferry Capital LLC.

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Midday Stock Roundup

The S&P 500 was flat 2,144.26.

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Smithsonian Award for Gross

Bill Gross, “The Bond King,” may soon lay claim to being among “the greatest stamp collectors of all time.”

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Midday Stock Roundup

Markets were up overall on news that many oil producing countries are willing to sign on to OPEC output cuts.

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