Disneyland Resort in Anaheim will shut Disneyland’s Big Thunder Mountain Railroad Jan. 7 for the installation of new tracks and vehicles, and painting. The Frontierland ride will reopen in the fall.
Anaheim Hills-based financial services firm Metrix Capital Group LLC tapped former National Basketball Association player Corey Crowder as a business-development executive. Metrix is headed by Jeff Brannon, former chief executive of Laguna Hills-based lender Strada Capital Corp. and an ex-baseball minor leaguer in the Atlanta Braves’ farm system.
Newport Beach City Council voted 5-1 to increase residential dock fees. Public tidelands fees will change from a flat $100 a year to 52.5 cents per square foot.
The Orange County Employees Retirement System board voted 5-4 to lower its projection for annual investment returns from 7.75% to 7.25%, a figure proponents called more realistic. The chairman of the county Board of Supervisors, John Moorlach, estimated he change would cost the county an extra $60 million annually.
William and Nancy
Thompson Family Foundation and Children and Families Commission of Orange County will donate $14.8 million to create a center specializing in autism and neurodevelopmental disorders. The center will operate as a part of University of California, Irvine, and will provide diagnostic and treatment services to clients up to age 22. UCI’s School of Medicine will receive $14 million in initial funding—getting $7 million apiece from the foundation and the commission. The Thompson foundation also will contribute $800,000 to Chapman University’s College of Educational Studies to fund a pair of center initiatives. Children’s Hospital of Orange County is on board as a service partner of the new center. (See this year’s philanthropy wrap-up, page 5.)
OC hotels marked a 9% rise from a year earlier in average room rates in October, to $153.06, according to PKF Consulting USA. The Anaheim market—where Disneyland Resort opened Cars Land at Disney California Adventure this summer—saw the biggest jump, up almost 12% to $155.48.
Orange County Superior Court voided a $158 million subsidy that had been approved by the Anaheim City Council for the development of two hotels near Disneyland. The ruling noted that the City Council’s agenda for the January meeting at which the subsidy was approved stated council members would discuss the matter but didn’t mention any action to be taken. The subsidy for developer GardenWalk Hotel LLC was intended to support construction of hotels next to the Anaheim GardenWalk shopping center.
Irvine-based Freedom Communications Inc., owner of the Orange County Register, acquired on undisclosed terms Newport Beach-based Churm Media, which publishes OC Metro, OC Family, OC Menus and Southland Golf. Churm also owns marketing firm Ripe Orange.
Irvine-based Yogurtland Franchising Inc. signed a franchise agreement for 50 frozen-yogurt restaurants in Australia, with the first of the franchises to open next month in Sydney. Franchisee Paul Siderovski plans to open between 10 and 12 Yogurtlands next year in Australia.
Irvine-based startup Enevate Corp. raised $24 million in its second financing round from new and existing investors. Enevate makes rechargeable lithium-ion batteries for smartphones, tablets and other devices. New backers include San Jose-based CEC Capital LLC, China-based Tsing Capital and Presidio Ventures, a Santa Clara-based unit of Sumitomo Corp. in Tokyo.
ECONOMIC INDICATORS
UP: Orange County home sales, which rose 25% to a seven-year high in November, according to San Diego-based DataQuick Information Systems. The county’s median sale price hit a five-year high last month, up 13% from November 2011 to $450,000.
UP: Outlook for OC home foreclosures. There were 1,759 foreclosure filings involving OC homes in November, a 14% decline from October and 52% fewer than in November 2011, Irvine-based RealtyTrac said.
DOWN: New-business filings in OC, which hit a four-year low in November, according to the county clerk-recorder’s office. There were 2,162 monthly filings for fictitious business names last month, a 26% decline from October and 17% fewer than in November 2011.
