Peter J. Brennan
Gateway One Lending & Finance LLC, the Anaheim-based automotive finance unit of TCF Financial Corp. (NYSE: TCF), is cutting 231 jobs, according to California’s State Employment Development Department.
FINANCE: Accounting firm’s penny stock audits scrutinized
Newport Beach-based Anton & Chia LLP, ranked on the Business Journal’s list of Orange County accounting firms, is disputing civil fraud allegations brought by the Securities and Exchange Commission involving penny stocks.
OC Job Growth a Mixed Message
The Orange County economy is facing both good news and bad in the coming year, according to Chapman University’s annual forecast.
Joseph Yurosek, Comerica Bank’s market president for the Orange County region, has been named California Market President for Fifth Third Bancorp.
The U.S. economy will slow to a 2.2% increase in 2018 from an estimated 2.3% this year, according to the newest forecast from Chapman University’s A. Gary Anderson Center for Economic Research.
MVE & Partners Inc., the fourth-largest architecture firm in Orange County, announced that President Rick Emsiek will step down as president and be replaced by Matthew McLarand, son of legendary founder Carl McLarand.
The Securities and Exchange Commission is accusing Anton & Chia LLP, a Newport Beach accounting firm listed as the 26th biggest in Orange County, with fraudulent auditing of penny stocks.
The S&P 500 climbed 0.4% in midday trading to 2,653.71 after the U.S. Senate passed its version of a tax reform bill.
Donors Boost Giving To Assist Homeless
The issue of rising homelessness was one of the keys to a 7.2% boost in revenue among nonprofit organizations in Orange County.
MANUFACTURING: Lifts firm out of implosion
Ed Laird’s company was in trouble a decade ago. And his health was suffering, too.
RSI Home Products Inc., an Anaheim manufacturer started by Ron Simon, is selling itself in a deal worth $1.075 billion to American Woodmark Corp. (Nasdaq: AMWD).
Umpqua Bank, a subsidiary of Portland-based Umpqua Holdings Corp. (Nasdaq: UMPQ), said it hired Todd Abboud to a new position as regional director, executive vice president, for Orange County.
Shares of Kush Bottles Inc. (OTC: KSHB) rose 6.3% to $2.97 today after the Santa Ana-based supplier of cannabis paraphernalia reported annual and quarterly revenue that topped an analyst’s forecast.
Bob Chapek, head of the Walt Disney Co.’s parks and resorts division, is viewed as the successor to Bob Iger, according to Bloomberg News, citing unidentified people familiar with the situation.
Cylance Chief Technology Officer Explains What to Look For
Artificial intelligence is currently the trendiest buzzword in Silicon Valley’s venture capital world, according to Rahul Kashyap.
Accounting Firm Will Be 4th Biggest in California
Squar Milner LLP in Newport Beach said it’s acquiring DZH Phillips LLP in San Francisco to become the fourth-largest accounting firm headquartered in California.
Sedgwick LLP will be closing its offices at the end of December, according to two legal websites.
Five Point Holdings LLC (NYSE: FPH) found bond buyers so eager for its high-yield debt that it increased the offering to $450 million.
PIMCO Attorneys Confront Issues in 11 Countries
Which Orange County legal team has led litigation that recovered $16 billion on behalf of clients and other claimants?
Pacific Premier Bancorp Inc. (Nasdaq: PPBI), signed a multiyear partnership with the National Football League’s Los Angeles Chargers.
Orange County’s unemployment rate fell to 3.3% in October, led by an increase in the local education sector, according to the state’s Employment Development Department.
Opus Bank (Nasdaq: OPB), an Irvine-based bank struggling with troubled loans, said it hired a new chief financial officer to replace Nicole M. Carrillo.
Karma Now Biggest OC Automaker Employer
The 39 largest auto dealers in Orange County combined for $5.16 billion in sales for the 12-month period that ended June 30, a 1.4% increase that marks the second straight year of a significant slowdown from recent years, according to this week’s Business Journal list.
Half of Quarter’s Loss From Stock Vesting
Veritone Inc., the high-flying Costa Mesa company trying to make a name for itself in artificial intelligence, reported third-quarter results that brought it back somewhat closer to Earth.
Mnuchin, Ivanka Find Host a Hard Sell
The Trump administration visited key Orange County business executives last week to tout its tax reform plan.
Opus Bank (Nasdaq: OPB) is settling for $17 million a class-action shareholder lawsuit alleging the Irvine company misled investors about the quality of its loans.
FINANCE: Compliance costs cited for move to OTCQX
Troubled California First National Bancorp in Irvine is giving up on Wall Street’s main stage, citing regulatory costs.
Increase Tops 10% For First Time in Decade
Orange County’s credit unions are back to growing assets by double-digit percentages.
Hockey-Loving CEO Explains Strategy
Pacific Premier Bancorp Inc. in Irvine has long been an underdog.
When businesses began budgeting for 2017 a year ago, few foresaw the dramatic economic effect of Donald Trump’s election to the White House.
14% Increase Doesn’t Compare to Prior Years
Orange County-based commercial banks boosted assets a normally admirable 14% to $36 billion in the 12 months ended June 30.
LoanDepot LLC, the nation’s second largest non-bank consumer lender, announced a joint venture with OfferPad, a real estate investment company, to speed up the process of mortgage approval.
CalAtlantic Group Inc. in Irvine is being purchased by Lennar Corp. in a $9.3 billion deal, one of the largest on Wall Street this year.
FINANCE: Investors cheer turnarounds at three firms
Four of the five largest publicly traded banks based in Orange County reported last week that profits improved in the third quarter over the same period a year earlier.
Bank and Wealth Manager Doubles Sales in 2 Years
First Foundation Inc. doubled revenue in the past two years, making it the fastest grower among midsize publicly traded companies in Orange County.
Fastest-Growing Cos. Use Buys to Bump Sales 44%
Orange County’s fastest growing publicly traded companies increased revenue by $16 billion in a two-year span.