AUTOMOTIVE
Irvine-based Kia Motors America Inc. will continue as the Official Automotive Partner of the National Basketball Association, and its K900 sedan will take on the role of the league’s official luxury vehicle. Kia has been an NBA sponsor since 2008 and has individual sponsorships with 14 teams. The automaker also has a number of players as endorsers, including LeBron James, who recently signed as a “luxury ambassador” for the K900. The multiyear extension with the league also makes Kia Motors America the Official Automotive Partner of the Women’s National Basketball Association and the NBA Development League, as well as a title partner of the Tip-Off, Performance Awards and the All-Star MVP Award.
Mazda Motor Corp. said it plans to introduce a compact crossover SUV, the Mazda CX-3, at the Los Angeles Auto Show this month. Mazda CX-3 will feature Skyactiv technology and Kodo design, with “sharper form” and “an enhanced sense of speed.” Skyactiv is Mazda’s proprietary technology that focuses on increasing fuel efficiency and engine performance. An updated version of CX-5 will also debut at the auto show, along with the Mazda6 sedan and the 2016 Mazda MX-5 roadster.
EDUCATION
The Dodge College of Film and Media Arts at Chapman University came in at No. 4 on the College Factual ranking of the 10 best U.S. film schools. The Hollywood Reporter ranked it No. 7 out of 25 on a July list based on 2,300 ballots from the film industry and the schools involved. The latest ranking focuses on graduation rates, student loan defaults and average starting salary. It noted the quality of Chapman’s 24-hour facilities and said graduates earn an average starting salary of $34,000 and a mid-career salary of $70,000.
FINANCE
Pacific Investment Mangement Co. brought back a pair of executives who left the Newport Beach firm during recent management turbulence. Michael Spence returned to the position of consultant on macroeconomic affairs, and Jeremie Benet returned to a portfolio manager position.
Minerco Resources Inc. in Houston, Texas, has acquired a 30% stake in Brea-based Avanzar Sales and Distribution LLC for $500,000. Avanzar distributes food and beverages to about 3,200 locations, including Whole Foods. It already handles Coffee Boost and other products manufactured by Minerco’s subsidiary, Level 5 Beverage Co. Bill Juarez will remain president of Avanzar, which had annual sales of $2.6 million in 2013 and said it expects to reach $2.7 million this year.
HEALTHCARE
Irvine-based biotechnology company AtheroNova Inc. priced an offering of 4 million shares of its stock and warrants to buy its stock. It’s developing drugs to treat atherosclerosis, which is caused by the artery buildup of several substances into plaques. The company is offering stock at 75 cents a share. AtheroNova said gross proceedings from the offering will total $3.05 million and that net proceeds would be used for general corporate purposes.
Mission Viejo-based CareTrust REIT Inc. said it will spend $12 million to buy three senior housing facilities. It’s acquiring the properties from Idaho Falls, Idaho-based Cross Healthcare LLC. The facilities are located in Idaho Falls and Pocatello and are 92% occupied. CareTrust was created this year when nursing home operator Ensign Group Inc., also located in Mission Viejo, spun off its real estate holdings.
HOSPITALITY
The St. Regis Monarch Beach Resort in Dana Point named Ian Pullan its general manager. He has 24 years’ experience working at luxury hotels in Los Angeles, Dublin, Bermuda and Hawaii and was most recently GM of the InterContinental Hotel in Boston. The 400-room St. Regis sold to Denver-based private equity firm KSL Capital Partners LLC in May for an estimated $320 million, or about $800,000 per room. It’s operated by Stamford, Conn.-based Starwood Hotels & Resorts Worldwide Inc.
RESTAURANTS
Irvine-based Taco Bell Corp. introduced a new mobile app for ordering and payment. It replaces one introduced in January 2012 and last updated in March 2013 as the company was in development on the new one. The app taps current technology and increases user options.
