TOP STORIES
Broadcom Corp., Irvine, accused Intel Corp. of stealing its chip technology and using Broadcom chips in product demonstrations … Kraft Foods recalled taco shells made for Irvine-based Taco Bell Corp. that contained genetically engineered corn not approved for humans … A 4-year-old boy was critically injured on Disneyland’s Roger Rabbitt Car Toon Spin ride when he was pinned under a car … Rbid.com Inc., Irvine, offered $172.7 million for a controlling stake in Herbalife International Inc., Los Angeles, but Herbalife’s majority shareholder rejected the offer… U.S. and European regulators approved Boeing Co.’s acquisition of Hughes Space and Communications, which will be merged with Boeing’s Seal Beach-based space and communications unit … William Davis resigned as president and COO of Litronic Inc., Irvine … Simple Technology Inc., Santa Ana, raised $70 million in an IPO that gave the company an initial market capitalization of $407 million … Aspeon Inc., Irvine, filed for more time to complete its 10-K and said it will restate recent results to report a larger loss.
TECHNOLOGY
Ingram Micro Inc., Santa Ana, will distribute NEC Corp.’s computer products in North America … Western Digital Corp., Irvine, secured a $125 million, three-year line of credit (see related story, page 1) … Charles F. Cargile was named VP and CFO of Newport Corp., Irvine, replacing Robert C. Hewitt, who retired … The founders of Mcglen Internet Group Inc., Tustin, made 10 million of their shares, about 32% of the company, available to the firm to raise cash … LeadersOnline Inc., Irvine, canceled its planned IPO, citing market conditions … Smith Micro Software Inc., Aliso Viejo, acquired the electronic business consulting practice of QuickStart Technologies Inc., Irvine … LMKI Inc., Irvine, received a loan pledge of $5 million from Baton Rouge, La.-based-based Hartford Financial Group Inc. … Universal Broadband Networks Inc., Irvine, named Stephen E. Pazian chairman, replacing Jon H. Marple, who had resigned … Broadcom Corp. co-chairman Henry Samueli and an anonymous donor pledged $9.5 million to the Ocean Institute in Dana Point A federal grand jury indicted Mark Simeon Jakob on 11 counts of securities and wire fraud for the hoax that sent shares of Costa Mesa-based Emulex Corp. plummeting last month … Conexant Systems Inc., Newport Beach, opened a design shop in the Netherlands.
HEALTHCARE
Apria Helathcare Group Inc., Costa Mesa, increased its revolving credit line by $20 million, to $50 million … Jeffery Flocken was promoted senior VP and COO of St. Joseph Health System, Orange, replacing Paul Viviano, who resigned to take a position with Tenet Healthcare Corp. … Bankrupt Premier Laser Systems Inc., Irvine, sold its Erbium YAG laser technology for $3.75 million to SurgiLight Inc., Orlando, Fla.; meanwhile, former CFO Michael L. Hiebert agreed to pay $10,000 without admitting wrongdoing to settle an SEC complaint … World Shopping Network Inc., Santa Ana, signed a deal with Preferred Dental Plan Inc., Newport Beach, to offer dental-care packages over the Internet.
GOVERNMENT
The Newport Beach City Council voted to annex Newport Coast, Santa Ana Heights and Bay Knolls; a vote by area residents could come in March … The Orange County Transportation Authority voted to begin eminent domain proceedings against Sepulveda Building Supply, Laguna Niguel, whose storage lot is the preferred site for a new Metrolink station … Gov. Gray Davis vetoed a bill that would have fast-tracked improvements on the former Tustin air base … The Transportation Corridor Agencies agreed to pay Lockheed Martin IMS $5.5 million and cancel its contract to operate OC’s toll roads.
REAL ESTATE
PS Business Parks acquired a five-building office complex in Irvine from Patrician Associates, Des Moines, for $25.3 million … A new study says the endangered California gnatcatcher is genetically almost identical to the abundant Mexican gnatcatcher, and developers asked the federal government to delay declaring 800,000 acres in Southern California a critical habitat for the bird … Westpark Corte Bella Associates settled a construction-defect lawsuit over its 205-unit Irvine condo complex for $3.5 million.
FINANCE
ProcessClaims.com, Irvine, will provide services to California Casualty Management Co. … The Commodity Future Trading Commission went to court to close a Web site called Cash Nursery operated by Rabb Sabin and Art Smith of Orange County, alleging the pair lied to customers about their backgrounds and the profitability of a trading method they taught online … Huntington Beach-based Doug Fabian’s investment talk radio show will be syndicated by Business Talk Radio to more than 70 affiliates.
WHAT’S NEW
Metalclad Corp., Newport Beach, halted merger talks with Pennsylvania-based PDG Environmental Inc., which said it plans to buy Fullerton’s Tri-State Restoration … Deloitte & Touche LLP, the independent auditor for Irvine-based Day Runner Inc., expressed “substantial doubt” the maker of daily organizers can continue as a viable business … New Horizons Worldwide Inc., Santa Ana, warned that it expects lower third-quarter earnings than a year ago; its shares fell 48% to 12 1/8 on the news … A joint venture of Aliso Viejo-based Fluor Corp. and Duke Energy Corp. received a contract for engineering and procurement services at a New Jersey power plant; Fluor also received a contract to provide engineering services for a gas-liquifaction plant project in Russia … Diedrich Coffee Inc., Irvine, will sell some coffeehouses to service debt; the company named J. Michael Jenkins CEO, replacing Timothy Ryan … Concordia University, Irvine, received an anonymous $6.25 million donation for construction … UCI researchers received $4.6 million in National Science Foundation grants for information science-related projects … AMC Entertainment closed its six-screen theater at MainPlace/Santa Ana … Huntington Beach-based band Offspring canceled its plan,opposed by its record label, Columbia Records,to release its new album free on the Internet … Gamecraft Inc., Huntington Beach, received approval to distribute gaming machines in Mississippi … Two dozen riders were stranded for three hours when the Jaguar! roller coaster at Knott’s Berry Farm was brought to a halt by a jacket that fell on the track … South Coast Plaza opened its “Bridge of Gardens” linking the main plaza with the former Crystal Court.
