Peter J. Brennan

Staff Reporter

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

Recent Stories

Gateway One Cuts 231 Jobs

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.

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Midday Stock Roundup

The S&P 500 climbed 0.3% in midday trading to 2,667.93.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,657.95.

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Anton & Chia Fights SEC Charges

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.

Chapman Sees Largest Tax Hike in State History

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.

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Fifth Third Hires Yurosek

Joseph Yurosek, Comerica Bank’s market president for the Orange County region, has been named California Market President for Fifth Third Bancorp.

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Chapman: Tax Reform to Boost Economy

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.

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MVE Promotes McLarand

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.

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SEC Charges Accountancy

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.

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Midday Stock Roundup

The S&P 500 rose 0.1% in midday trading to 2,641.82

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Midday Stock Roundup

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.

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OC’s Nonprofits Increase Revenue 7.2%

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.

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He Colored a Comeback

MANUFACTURING: Lifts firm out of implosion

Ed Laird’s company was in trouble a decade ago. And his health was suffering, too.

RSI Sells for $1.075 Billion

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).

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Oregon Bank Expands in OC

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.

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Kush Bottles Rises on Report

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.

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Midday Stock Roundup

The S&P 500 climbed 0.7% in midday trading at 2,620.36.

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Shanghai Surprise: Disney Parks Boss at Head of CEO Line

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.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,601.81.

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AI Investment Choices in the Details

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.

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Squar Milner to Buy SF-Based DZH Phillips

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.

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Sedgwick to Close

Sedgwick LLP will be closing its offices at the end of December, according to two legal websites.

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Midday Stock Roundup

The S&P 500 increased 0.7% in midday trading to 2,598.89.

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Five Point’s Debt Sees High Demand

Five Point Holdings LLC (NYSE: FPH) found bond buyers so eager for its high-yield debt that it increased the offering to $450 million.

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Midday Stock Roundup

The S&P 500 increased 0.2% in midday trading to 2,583.59.

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Lawyers Who Get Wall Street

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?

Chargers Pick Pacific Premier

Pacific Premier Bancorp Inc. (Nasdaq: PPBI), signed a multiyear partnership with the National Football League’s Los Angeles Chargers.

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OC Unemployment Down

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.

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Midday Stock Roundup

The S&P 500 fell 0.4% in midday trading to 2,573.71.

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Opus Bank Hires CFO

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.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,583.93.

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OC Auto Dealers See Sales Decelerate

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.

Veritone’s Q3 Sales Disappoint; Triggers Sell-Off

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.

Star Trump Officials Seek OC Tax Support

Mnuchin, Ivanka Find Host a Hard Sell

The Trump administration visited key Orange County business executives last week to tout its tax reform plan.

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Opus to Pay $17M to Settle Suit

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.

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Midday Stock Roundup

The S&P 500 declined 0.2% in midday trading to 2,586.70.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,591.54.

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Online Bank CalFirst to Voluntarily Delist From Nasdaq

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.

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Credit Unions Boom Again With 10% Asset Growth

Increase Tops 10% For First Time in Decade

Orange County’s credit unions are back to growing assets by double-digit percentages.

Pacific Premier Skates to Lead

Hockey-Loving CEO Explains Strategy

Pacific Premier Bancorp Inc. in Irvine has long been an underdog.

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Q&A

When businesses began budgeting for 2017 a year ago, few foresaw the dramatic economic effect of Donald Trump’s election to the White House.

OC-Based Banks’ Growth in Assets Slows Down

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 Starts JV

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.

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Midday Stock Roundup

The S&P 500 increased 0.1% in midday trading to 2,576.45.

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Lennar Buys CalAtlantic

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.

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Midday Stock Roundup

The S&P 500 fell 0.3% in midday trading to 2,572.64.

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OC-Based Banks Report Increasing Profits in Q3

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.

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Banking Foundation of First Foundation’s Growth

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.

On the OC Fast Track

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.

Midday Stock Roundup

The S&P 500 rose 0.2% in midday trading to 2,570.12.

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