TOP STORIES
Shea Properties secured financing for the first phase of the planned 1.5 million-square-foot Vantis office campus in Aliso Viejo: a 150,000-square-foot, five-story building that the company will begin on speculation in the spring … GlobalCenter Inc., Sunnyvale, signed a 15-year, $70 million lease for 232,000 square feet in Irvine to be used for a data center … Capital Pacific Holdings Inc., Newport Beach, tentatively agreed to buy 21,400 acres of undeveloped land in Colorado Springs from Banning-Lewis Ranch Corp. … Global Health Sciences Inc., Orange, defaulted on a $12.4 million interest payment and the company said it is negotiating with bondholders and will continue to operate … Edwards Lifesciences Corp., Irvine, citing a weak euro and sluggish sales, lowered its revenue estimates for the fourth quarter and 2001; its shares fell 41% to 13 7/16 on the news … An FAA official said the agency believes local airspace procedures could be reworked to accommodate flights from the proposed El Toro airport (see Editorial, page 66) … TriZetto Group Inc., Newport Beach, will acquire Resource Information Management Systems Inc., Naperville, Ill., for $56 million.
TECHNOLOGY
Epicor Software Corp., Irvine, was removed from the 600-firm S & P; Small Cap Index; meanwhile, its shares fell 4% to 1 5/32 after a worse-than-expected third-quarter report and the restatement of first- and second-quarter results (see Earnings, page 16) … Universal Electronics Inc., Cypress, named president Paul Arling to the additional post of CEO, replacing Camille Jayne, who becomes executive chairman … BuyNow, Aliso Viejo, received $15 million in venture funding and changed its name to Aqueduct Inc. … Pacific Decision Sciences Corp., Santa Ana, was acquired by Miami-based Applied Digital Solutions Inc. … Buy.com Inc., Aliso Viejo, and eBay Inc. will form a co-branded Web site for the sale of audio and video entertainment products … CAM Commerce Solutions Inc., Fountain Valley, will acquire the assets of Genesis Software Group Inc., Sandwich, Ill. … Magic Software Enterprises, Irvine, and Publicis Networks GmbH will cooperate on marketing and sales ventures … Cerplex Group Inc., Tustin, completed the sale of its U.K.-based computer repair and parts business … Universal Broadband Networks Inc., Irvine, filed for bankruptcy protection … Power Devices Inc., Laguna Hills, was acquired by Loctite Corp., a U.S. unit of Germany-based Henkel KGaA … Advanced Communications Technologies Inc., Irvine, created a subsidiary to market wireless technologies developed at an Australian R & D; facility in which it holds a 20% stake … MenuLink Computer Solutions Inc., Huntington Beach, will supply back-office software to Fazoli’s Restaurants Inc., Lexington, Ky. … Meade Instruments Corp., Irvine, warned that its third-quarter earnings and revenue will not meet expectations … Philip Hashway, COO of UltraLink, Costa Mesa, added the title of president … MindArrow Systems Inc., Aliso Viejo, will be listed on the Nasdaq SmallCap market beginning this week, under the symbol ARRW.
GOVERNMENT
An appeals court threw out the conviction of former OC assistant treasurer Matthew R. Raabe on charges related to the 1994 county bankruptcy … The Coastal Commission staff said the state panel has no authority over plans to store nuclear waste at the San Onofre Nuclear Generating Station until at least 2050 … El Toro airport proponent George Argyros said the facility should be about half the size now proposed and have the same curfews as John Wayne Airport … OC Treasurer John Moorlach proposed the creation of an arbitration panel to hear disputes between public agencies that otherwise would become lawsuits … UCI received $194.5 million in research grants in the last fiscal year, up 36% from the year before (see related story on page 27).
HEALTHCARE
Spectranetics Corp., Colorado Springs, agreed to pay $4 million in past and current-year royalties and enter a licensing agreement for the use of three patents, settling an infringement suit brought by Edwards Lifesciences Corp., Irvine, and its former parent, Baxter International Inc. … Sicor Inc., Irvine, received FDA approval to market a drug used to lessen the severity of advanced prostate cancer … Markie Cowley was named COO and senior VP of Mission Hospital Regional Medical Center, Mission Viejo.
FINANCE
PBOC Holdings, Los Angeles, parent of People’s Bank of California, will acquire Orange-based BYL Bancorp, parent of Bank of Yorba Linda, for $39 million … Impac Mortgage Holdings Inc., Newport Beach, will buy back up to $2 million worth of its 21.4 million outstanding common shares, which were trading last week in the 2 1/2-to-3 range … A group including Western Acquisition Partners LP increased its stake in Tustin-based West Coast Bancorp to 19.1%.
REAL ESTATE
Flashcom Inc.’s lease of 125,000 square feet in the Park Place complex in Irvine is in jeopardy in a dispute with the landlord, the Times reported … Standard Pacific Homes, Costa Mesa, was fined $10,350 for allowing construction runoff to flow to the ocean across Crystal Cove State Beach.
WHAT’S NEW
The Irvine-based operators of VoteExchange.com said they believe their Nader-Gore vote-swapping site is legal and it will stay up until the Nov. 7 election, following the California Secretary of State’s order that a similar site shut down … Jeannie Wu, president of Buena Park-based Ameripec Inc., and VPs Richard Wu and Frank Zee were among those killed in the crash of a Singapore Airlines plane in Taiwan … A joint venture of Aliso Viejo-based Fluor Corp. and Empresas ICA received a $38 million contract from Apasco to expand its cement plant in Mexico … Sarah Anderson was named managing partner of the OC office of Ernst & Young LLP, replacing James Bowling, who moves to the firm’s global accounts group … Gen-X Sports of Laguna Hills, Rapid Suspension Technology USA Inc. of Aliso Viejo, and Titan Inc. of Yorba Linda were among 15 companies sued by scooter-importer Razor USA, Cerritos, for alleged patent and trade infringement … Pacific Sunwear of California Inc., Anaheim, said it expects to meet analysts’ lowered earnings estimates for the third quarter; meanwhile, Hard Rock Cafe International sued Pacific Sunwear for trademark infringement over the clothing retailer’s “Hard Rap Cafe” label … Corinthian Colleges Inc., Santa Ana, completed its acquisition of the assets of Computer Training Academy Inc. … The Price Pfister unit of Black & Decker Corp. will move its corporate office and about 60 jobs from Pacoima to Lake Forest … Hratch Khedesian, chairman of Sonic Jet Performance, Huntington Beach, was sentenced to 180 days of home confinement followed by probation and 600 hours of community service after pleading no contest to misdemeanor manslaughter.
