Peter J. Brennan
ECONOMY: More now in health, business services
Social workers and business consultants were the biggest job winners in the past two decades in Orange County.
Organizes Unique Trips With Bragging Rights
Jim Jalet III knows unusual tourism like few others in the industry in Orange County.
FINTECH: Vows smoother ride after leadership shakeup
AutoGravity Corp., the Irvine fintech recently embroiled in management turmoil, is for sure keeping one thing: a wooden slide employees use to spirit themselves from the second floor to the first.
Windes Inc., a Long Beach-based accounting firm, has acquired Irvine’s Allen, Haight & Monaghan LLP. Terms weren’t disclosed; the firms will practice under the moniker of Windes.
Newport Beach’s Carrick Capital Partners LLC bought a majority stake in Discovery Health Partners, a payments company in the health industry. Terms weren’t disclosed.
Finance Whiz to Focus on Quant Fund
How does Jane Buchan feel about departing the chief executive role she had for 16 years while building Pacific Alternative Asset Management Co. into one of the world’s largest fund of funds?
FINANCE: Irvine Firm Facing Rate Challenges
If you want to know what a “challenging interest rate environment” looks like, just ask First Foundation Inc. (Nasdaq: FFWM).
Hsieh finds wealth, luck in mortgages
Hey, did you hear the rumor about Amazon.com Inc. buying loanDepot of Foothill Ranch?
Shares of Irvine’s CorVel Corp. surged 4.8% to $57.35 in after hours trading Tuesday after the insurance managed service provider reported first-quarter earnings rose 35% to 62 cents a share. Shares gave back those overnight gains in midday trading Wednesday.
FINANCE: Pacific Premier, Opus shares fall on Q2 reports
It was Banc of California Inc.’s (NYSE: BANC) turn for an Orange County-based bank to impress investors.
CoolSys, a Brea-based refrigeration and heating company, bought Energy Squared LLC, a consulting engineering firm providing electrical and refrigeration engineering analysis and design for buildings. Terms were undisclosed.
Newport Beach-based True Family Enterprises acquired the assets of meal kit company Chef’d on undisclosed terms.
Orange County’s unadjusted unemployment rate rose to 3.3% in June, up from a revised 2.6% in May and down from 3.7% a year ago, according to the state’s Employment Development Department.
Fund of hedge funds PAAMCO Prisma Holdings co-Chief Executives Jane Buchan and Girish Reddy are stepping down a year after combining their firms.
AutoGravity named a new chief executive and chief technology officer to replace two award-winning executives who unexpectedly departed the fast-growing Irvine fintech in the past two months.
Santa Ana-based Allied Universal, the largest private security firm in the U.S., said it will pay $1 billion to acquire U.S. Security Associates (USSA) from Goldman Sachs’ Merchant Banking Division.
Architects, Contractors Reveal Newest Trends
Vinyl flooring in a Class A building? Polished concrete floors?
Executives Say It’s a Blip, As Work Still Booming
Firms in Orange County’s tenant contractor industry reported slowing revenue growth last year, the lowest rate since 2009.
Andy Hinrichs in May departed as chief executive of AutoGravity, an award-winning fintech company he co-founded in 2016, the Business Journal has learned.
Newport Beach-based Carrick Capital Partners said it made an $80 million, series A minority investment in Exiger.
Newport Beach's Alliant Insurance Services Inc., the largest insurance broker based in Orange County, said it acquired Austin,Texas-based CLS Partners, which has more than 50 employees. Terms were undisclosed.
MARKETING: Director explains what works in ads
Ken Kerry isn’t your typical Hollywood director.
FINANCE: Santa Ana firm sees no end to tax problems
Why in the world would anyone want customers who won’t even pay the Internal Revenue Service? And confront the IRS on a daily basis? Not to mention, why enter an industry considered sleazy and where some of the biggest players have been accused of wrongdoing and ended up bankrupt?
Americor Inc., an Irvine-based consumer debt company, said it will be opening a new center with 250 employees.
The S&P 500 was down 0.5% to 2,713.22 as the markets closed at 10 a.m. for the July 4th holiday.
FINANCE: Says Trump admin. smacking down bad rules
Linda McMahon wants Orange County small businesses to know one thing: The Donald Trump administration has their backs.
Headhunter Beacon Lays Out the Hottest Functions
Headhunter Ryan Milne gets right to the point for those seeking a high-paying job in accounting.
Local Industry Climbs For Seventh Straight Year
Orange County’s largest accounting firms accelerated hiring in the year ended May 31, pushing it up 3.3%, more than the 2.1% reported a year earlier, based on the Business Journal’s annual list.
The headlines from the federal tax law passed in December are long gone. What’s received less notice are new regulations being issued by the Internal Revenue Service for what in accounting circles is now called the TCJA, for the Tax Cuts and Jobs Act. Companies and their accountants are strategizing how to best reduce their tax burdens and avoid unintended consequences.
RJI Edges Big 4 With Experience Sans Cost
Manuel Ramirez is reluctant to add employees. When the chairman of RJI International CPAs was asked if he might add, say, 10 more this year, he quickly said, “I hope not.”
Getting Demand in Banks, Healthcare, Construction
Orange County management consulting firms ranked on the Business Journal’s annual list reported a 1.7% increase in staff consultants to 1,959 in the year ended May 31.
Family Business Doubles Factory Size
A laundry cart by R&B Wire Products Inc. has a touch of Hollywood. “We’ve been making this product for so long that it’s become synonymous with our company,” said owner and Chief Executive Rick Rawlins. “It’s not just called a laundry cart. It’s called an R&B cart. It’s like Kleenex is called tissue.”
Santa Ana’s Banc of California Inc., Orange County’s largest bank by assets, plans to cut its workforce by 9% to align its cost structure to focus on commercial banking.
Windjammer Capital Investors of Newport Beach bought Rowmark LLC, a Findlay, Ohio-based manufacturer in the engraving, signage and awards markets, from Bertram Capital.
Six registered investment advisory firms based in Orange County made the Financial Times’ annual list of the “top” 300 RIAs in the United States.