San Juan Capistrano-based One Punch Distribution Inc. signed a global distribution agreement with New York apparel company Headrush Apparel Inc. One Punch is expected to help Headrush as the brand expands globally. Headrush makes apparel and accessories for men and women inspired by mixed martial arts, music and action sports. One Punch distributes action-sports and athletic clothing brands, including TapouT, Throwdown and Silver Star.
Newport Auto Center in Newport Beach was named to Automotive News’ list of top 100 “Best Dealerships to Work For.” The designation is based on results of a survey conducted by Best Companies Group in Harrisburg, Pa., whose selection criteria included working conditions, benefits, professional development opportunities and work-life balance. The Porsche, Audi and Bentley dealer was the only Orange County-based operation on the list.
AT&T Inc. is looking to fill more than 100 technician and customer service positions in Orange County as part of a larger recruiting effort to fill hundreds of positions in Orange, Los Angeles, Riverside and San Bernardino counties, along with Bakersfield. More than 90 full-time positions are available here, along with more than 10 part-time positions.
Newport Beach-based Pacific Investment Management Co. is planning to expand its holdings of distressed debt and other alternative investment strategies, according to a report by the Wall Street Journal. Pimco is the largest bond-fund manager in the world and has about $2 trillion in assets. The firm maintains a longstanding reputation as a leading investor in bonds, which are considered among the safest investment instruments. Heightening its focus on alternatives would mean a pursuit of more non-traditional strategies, such as distressed mortgages and hedge-fund opportunities. Chief Operating Officer Douglas Hodge said the company is looking into distressed mortgages and commercial real estate loans from European banks, according to the report. Pimco’s announcement to push alternatives comes after a months-long trend of selloffs in the overall bond market as investors acted on fears of rising interest rates in anticipation of the Federal Reserve’s pulling back from its bond-buying program.
California United Bank opened an office in Irvine, combining an existing loan production office and a branch location. Encino-based California United acquired Anaheim-based Premier Commercial Bancorp last year for $42.3 million. It created CU Bancorp at the time of the deal to serve as a holding company for California United and Premier Commercial.
Newport Beach-based private equity firm Kodiak Capital Group LLC is buying $3 million worth of common stock in a Houston-based nutraceutical products startup. Genufood Energy Enzymes Corp. is a distributor of “pharmaceutical-grade” enzyme supplements. It owns a number of brands, including products for animals. It has one year to sell the common stock to Kodiak. Genufood, headed by Chief Executive Oliver Lin, is currently focused on exporting to Asian markets.
Santa Ana-based nonprofit THINK Together will expand its reach into the Bay Area after a merger with a local chapter of After-School All-Stars. THINK Together provides academic support services through after-school programs. It will assume the operations of programs handled by Bay Area After-School All-Star, whose board announced it was ending its affiliation with its national organization to join THINK Together.
The Village Crean estate, which received no purchase offers after several price reductions, will be auctioned off Sept. 20. The 3.6-acre estate at 2300 Mesa Drive in the Back Bay are of Newport Beach was home to the late John Crean, Fleetwood Enterprises founder and his wife, Donna, who died last year.
ECONOMIC INDICATOR
UP: July sales at Orange County auto dealerships, which sold 13,005 new vehicles, up 5.8% from a year earlier, according to Newport Beach-based Orange County Automobile Dealers Association. The figures are based on new retail car and light truck registrations in the county.
