Other news items of interest from the Orange County Business Journal
Foothill Ranch-based Wet Seal Inc. announced two promotions at its namesake chain, naming Kim Bajrech senior vice president and general merchandising manager and Debbie Shinn senior vice president and general merchandising manager of accessories and ready-to wear. The two headed merchandising for the division on an interim basis following the October departure of former Chief Merchandising Officer Harriet Sustarsic.
The parent of Irvine-based surfwear company Billabong USA halted trading of its shares last week, the second stoppage in the past month, with both stemming from its possible sale. Australia-based Billabong International Ltd. said in a statement that it requested the halt as it continued sale talks.
Anaheim-based luxury hybrid automaker Fisker Automotive Inc. cut most of the employees at its headquarters, a move that came on the heels of a weeklong furlough. The cuts affected about 160 workers, according to an e-mail from a former employee obtained by the Business Journal.
Irvine-based Opus Bank signed leases for new offices in Seattle and Tacoma, marking its entry into the cities as part of its overall push to target metropolitan markets along the West Coast. The two new offices add to its existing 22 locations in the Puget Sound region, most in suburban Seattle. The bank now has a total of 54 banking branches and other offices, with 32 in California. The new offices are expected to open in the third quarter.
Inspections at Hoag Hospital in Newport Beach and Hoag Orthopedic Institute in Irvine raised concerns over some patient health and safety procedures, according to the Orange County Register.
Tustin-based Pacific Health Corp. said it will shutter three additional hospitals, closely following its announcement that it plans to close Anaheim General Hospital. The company will close Newport Specialty Hospital, Bellflower Medical Center and Los Angeles Metropolitan Medical. It took immediate steps last week to stop providing emergency services at the three facilities. It told the Los Angeles County Department of Public Health that it couldn’t afford to pay staff or buy essential supplies, among other necessities, for the three hospitals.
Irvine-based Probe Manufacturing Inc., an electronics design and manu-facturing services company, acquired electronics maker Trident Manufacturing Inc. in Salt Lake City on undisclosed terms.
Irvine City Council has approved a plan to tax future homeowners and commercial property owners near the Great Park to pay for park improvements and maintenance. The city plans to base the tax on properties’ size and value. The council voted to establish a facilities district covering the park and the areas where homes and commercial properties will be built under plans by Aliso Viejo-based developer FivePoint Communities.
Universal Protection Service in Santa Ana acquired Allegiance Security Group in Morehead City, N.C., on undisclosed terms. Universal Protection is a division of Universal Services of America. It has about 23,000 employees companywide, with more than 2,000 in Orange County. The latest buy is expected to help expand Universal’s business into the Southeast, Puerto Rico and the U.S. Virgin Islands.
Anaheim-based Source Refrigeration & HVAC Inc. continued a string of acquisitions with a buy of Fournier Air Conditioning and Refrigeration in Florida. The company last month acquired TP Electrical of Georgia. Both deals were part of an expansion intended to further penetrate the Southeast market.
Federal investigators are probing Panasonic Avionics Corp. in Lake Forest to determine if it bribed overseas government officials to get business, according to the Wall Street Journal. Panasonic Avionics is a subsidiary of Panasonic Corp., a Japan-based electronics maker. The company declined comment on the investigation.
WestJet’s seasonal schedule of flights between OC and Calgary, Canada, won’t return this summer, the airline said, indicating that the route had not met expectations. Travelers will still be able to fly to Calgary via a connecting flight to WestJet’s Vancouver route from John Wayne Airport.
Southern California Edison asked the Nuclear Regulatory Commission to alter its operating license for the San Onofre nuclear plant as part of a request for clearance to restart of one of two reactors there. The move at the plant, which is just over the Orange County line in San Diego County, comes amid concerns about its safety that have been ongoing since both units were shut down in January 2012 after the discovery of damage.
ECONOMIC INDICATOR
UP: Sales of businesses in Orange County in March, when 177 changed hands, an increase of 15.7% from a year earlier, according to BizBen.com. The website said last month’s total was up 44% from 2009, the low point of the recent recession.
