Needle Point: Wednesday, Dec. 6, I was commended to read two books (in one year?) … “Reinventing the Administrative State” and “Financial Management Theory in the Public Sector,” –both apparently preach the same sermon: “When Money Talks, the Truth is Silent.”
Cleveland-based CBIZ, Inc. (NYSE: CBZ), the No. 10 U.S. accounting firm, bought McKay & Carnahan Inc. of Newport Beach on undisclosed terms.
Breaking at press time … Newport billionaire Ron Simon sells RSI Home Products to Va-based American Woodmark … $1.08B, in stock, cash, debt assumption … Simon founded his Anaheim cabinet-maker in ’89, products widely respected for high-quality and value—on pace for $560M sales ‘17.
Avanir Pharmaceuticals Inc. will lay off 73 employees by the end of January from its US work force as part of a restructuring. We’re told the majority will be outside of its Aliso Viejo headquarters.
Real estate services giant JLL’s 2017 Tech Report on STEM grads shows average U.S. pay for math and science jobs 80% above all gigs. In OC: $94,780 vs. $55,890.
Busy Year for Jenny Wang, Who’s Bred for Business
Jenny Wang grew up in her family’s shoe manufacturing business. She ultimately parlayed her business expertise into a general counsel position at Irvine-based MerchSource. The company designs, develops, imports and distributes consumer goods, such as electronics and toys.w
Association of Fundraising Professionals—OC honored eight of the county's outstanding givers at a National Philanthropy Day today before a lunch crowd of 680 at City National Grove in Anaheim.
A crowd of more than 400 members of Orange County’s corporate and legal communities gathered to honor this year’s top in-house lawyers at the Business Journal’s eighth annual General Counsel Awards.
Fifi Chao the longtime Orange County restaurant columnist died Monday. She was 81.
Matt and Ross Duffer (Chapman ’07) didn’t put Chapman’s Dodge College of Film and Media Arts on the map—but they sure made the University in Orange easier to find.
Among our P1 stories, Mediha DiMartino found a nondescript Garden Grove co. sitting on new business that could triple sales—a story anytime, more so when the growing concern is part of a 352-year-old French manufacturer.
Deadline gone for Amazon’s HQ2. I was in London at Trafalgar Square when that city won the bid for the 2012 Olympics.
‘Corporate Philanthropy Is in a Renaissance’
The list in this Special Report is unusual for the Business Journal in two ways. It’s a first—the first list of local-market Civic 50 honorees in the country. And it’s likely a first Business Journal list without financials. Rightly so.
REAL ESTATE: Diamond Jamboree owners invest
The land underneath the Newport Beach Tennis Club has been bought by a prominent area retail developer.
New Shooter for HQ2 Breaking late. Big Mike tells me a bid’s coming for Amazon’s HQ2, joint bid of Santa Ana, Garden Grove, and perhaps Orange and Anaheim.
Anniversaries are good for giving. On the silver anniversary of South Coast Plaza’s Harvesters Fashion Show in the golden-anniversary year of the mall, the show took in more than $1 million.
Monday. Lunch with Ed. Meeting The Great Ed Thorp is meeting Kareem (sky hook) or Jerry (Grateful Dead) or Steve (iPhone).
TECHNOLOGY: Some insiders sell; sales stay hot in hot ‘BI’ space
Life in the public eye got intriguing for one of Orange County’s best tech stories in years, Alteryx Inc., the Irvine software maker that made a splashy Wall Street debut in March.
Mark Mueller’s P1 story “Aluminum” illustrates how a great reporter—who fairly exclusively writes exclusives—broke his latest.
‘Let’s Do It:’ The Redoubtable Joe Kiani Builds Medical-Device Power
People telling the Masimo Corp. story like to compare it to David and Goliath, the surprising victory of a shepherd boy defeating a nine-foot giant—aka a “garage startup” victor over larger device companies. Except, to Chief Executive and Chairman Joe Kiani, there’s nothing surprising about the company’s success.
This Year’s Ranks Led by the ‘Big As’ Grew Jobs 30%
In life, in lists, it’s rough to do apples-to-apples comparisons. In culling our weekly lists of every business silo and subsilo, of firms of all ownership forms and makeups, we have several goals: to compile as comprehensive and accurate a roster as possible; to produce features on the best and the brazen; and to analyze beyond a comparison of numbers. As an editor wrote one sentence ago, “It’s very difficult to do apples-to-apples comparisons.”
Wise guys say Amazon could be the first $1 trillion company. It could. It’s put out giant retailers and mom-and-pop Seattle grocers (free bananas).
The Los Angeles Chargers and owners the Spanos family on Friday announced a $500K donation for Hurricane Harvey victims.
Do The Strand
You’d have won bets in the ’90s backing a padlocked, degraded piece of land overlooking the ocean in Dana Point to be built out, with local-to-coastal commission blessing. Twenty years and 120 of the priciest lots in OC later—you’d be sitting on a parlay.
Mistakes, Moats, Culture…
Every culture has its own lexicon, slogans. Here’s some business precepts I still see a lot—old and new and very true.
Not all Retail is roiled
Marijuana is a criminal, gateway drug. Marijuana should be legal in 50 states and the Marshall Islands. Or … something in-between. Regardless of your take, you’ll enjoy Peter J. Brennan’s stories on Kush Bottles, a publicly traded everything-but-cannabis, cannabis co. Kush opened in 2010.
GOVERNMENT: Co-owns Mission Inn; couple GOP donors
It’s a time-honored government tradition—patronage has its privileges, as does friendship and policy kinship.
How OC’s Wealthiest Grew Firms and Fortunes
Orange County’s wealthiest people enjoyed a good year. Most on our 2017 list, see page 16 of stand-alone Special Report, grew their fortunes, some substantially. The roster grew by two, nearly 5% from 45 to 47. The Business Journal’s “cutoff” is $250 million.
In managing this week’s OC’s Wealthiest issue—my first, our 17th—I placed a call to a source to confirm a few figures in our write-up.
We all know Pacific Life, the humpback whale, but I’m betting there are revelations for readers of Peter J. Brennan’s wide-ranging conversation with the 149-year-old insurer’s 14th CEO, Jim Morris.
MANUFACTURING: But labor shortage, costs, crimp job creation
For the 33rd straight month, Orange County’s manufacturers expanded output—albeit modestly—as measured by Chapman University’s quarterly survey of purchasing managers.
L.A. gets the Olympics—2028. This Olympics won’t be OC-centric like 1984, when Laguna Beach’s Peter Ueberroth helmed the effort, $0 in the bank and national malaise—finished with a $250 mill surplus and the Games’ financial viability restored.
ECONOMY: Gov’t regulation cited as their biggest concern
For the first time since the onset of the recession, business owners and executives here share a bigger worry than the overall economy, according to the latest California State University-Fullerton’s Orange County Business Expectations Survey.
OBITUARY: His good works benefitted a good many
Dale Dykema died on July 4.
One month into my burst into the middle of OC business—every day three yards and a cloud of everything, and a standout observation. There is—at last—progress on a unified, OC economic-growth strategy.
On July 1, Orange County makes its last bankruptcy-bond debt payment.
Irvine’s Acorn Grows Inc. ranked No. 22 on the Wall Street Journal’s list of “Top 25 Tech Companies to Watch.”
In the ‘80s I had the best accounting jobs—Johnson & Johnson sent me at 22 to Cape Town, Hong Kong, and Sydney …