ENERGY
Federal regulators imposed round-the-clock price limits on wholesale electricity in the West Gov. Gray Davis asked a congressional committee to prod federal regulators into helping the state recover $9 billion he said the state was overcharged for wholesale electricity in the past year; meanwhile, the state Independent System Operator is reevaluating that $9 billion estimate, with internal documents saying some assumptions used in calculating the figure were erroneous, the Times reported San Diego Gas & Electric agreed to sell its transmission lines to the state for $1 billion Gov. Gray Davis authorized state Treasurer Phil Angelides to borrow up to $5 billion to buy electricity, and Angelides said he expects to complete the financing by this week Edison International will offer 13% interest on its planned sale of $1.2 billion in notes (see related story on page 1); meanwhile, Edison unveiled a system of Web pages and automatic phone calling to notify customers of impending rolling blackouts.
TOP STORIES
PacifiCare Health Systems Inc., Santa Ana, will sell $500 million in debt securities and obtained a $350 million loan and $150 million line of credit Viacore Inc., Irvine, received $43 million in funding from a group led by VantagePoint Venture Parnters and including Dell Computer, Corp., Cisco Systems Inc., Hewlett-Packard Co. and Intel Corp. Philip R. Ladouceur resigned as chairman of Lake Forest-based FutureLink Corp. to become a partner in Toronto-based MM Venture Partners Eclipse Surgical Technologies Inc. moved its headquarters from Sunnyvale to Foothill Ranch and changed its name to CardioGenesis Corp. and its Nasdaq ticker symbol to CGCP.
TECHNOLOGY
Anaheim-based Advanced Thermal Sciences Inc., a unit of B/E Aerospace Inc., canceled its planned $44 million IPO MSC.Software Corp., Santa Ana, filed to raise $58.1 million in a secondary offering MindArrow Sytems Inc., Aliso Viejo, completed its acquisition of New York-based Control Commerce Inc. Deutsche Lufthansa AG will install Boeing Co.’s Irvine-made Connexion in-flight Internet service on up to 80 of its airliners John A. Muskovich resigned as executive VP and CFO of eMachines Inc., Irvine, and his financial responsibilities will be assumed by COO Adam Andersen; meanwhle, eMachines said it will start selling its computers directly to consumers via its Web site by the end of the year SI Technologies Inc., Tustin, laid off 40 employees, about 10% of its workforce Newport Corp., Irvine, laid off an unspecified number of temporary workers The Iteris unit of Anaheim-based Odetics Inc. teamed with Paris-based Valeo SA to develop and market Iteris’ system to alert drivers when they veer from traffic lanes Datum Inc., Irvine, cut its second-quarter earnings forecast in half A Russian computer hacker was indicted for allegedly trying to break into credit-card data held by Anaheim-based Sterling Microsystems and two other firms, then offering to stop if the firms hired him as a security consultant Digital Orange County cancelled a planned two-day Entrepreneur Summit because of few advance signups.
HEALTHCARE
Bothell, Wash.-based Data Critical Corp. completed its acquisition of Tustin-based VitalCom Inc. for $11 million and announced it will cut 60 jobs companywide (about 22% of its workforce), close two facilities and move its headquarters to Tustin TriZetto Group Inc., Newport Beach, signed a five-year deal to market its Web-based services to Blue Cross and Blue Shield Association members State officials moved to close 14 care facilities operated by Westview Services Inc., Anaheim, following three instances of physical or sexual abuse of patients; company president Mary James Radecki said she believes the firm and regulators can reach an agreement to keep the centers open Fourteen operating-room nurses at St. Jude Medical Center in Fullerton staged a one-day sickout.
GOVERNMENT
Supervisors approved a $2 million expenditure for postage for about 30 mailers over the next year to promote the El Toro airport plan Michael Berkow was named police chief in Irvine A Huntington Beach group dropped its campaign to recall Councilman Dave Garofalo over conflict-of-interest allegations.
REAL ESTATE
Irvine Company vice chairman Michael McKee was named COO; meanwhile, the firm said it may reduce rent increases for long-term tenants of its 10,000 apartment units in Irvine LA-based Kam Sang Co. acquired the Kaleidoscope mall in Mission Viejo from Samsung PDP LLC for $28 million.
WHAT ELSE IS NEWS
Tangible Asset Galleries Inc., Newport Beach, completed its acquisition of Hotel Interactive Inc. The Disneyland Resort lowered its adult ticket price for California Adventure by $10, to $33, and will admit children ages 3 to 9 free with a paying adult through the summer; the resort also laid off 150 of its 3,000 workers as part of Walt Disney Co.’s 4,000-job reduction; meanwhile, Disneyland settled for undisclosed terms a suit brought by a woman who alleged the park’s Indiana Jones ride caused her to suffer a brain hemorrhage Knott’s Berry Farm lowered the admission price for children offered in a summer promotion with Ralphs supermarkets by $3, to $9.95 Mark T. Majeske was named chief executive of Day Runner Inc., Fullerton U.S. District Court Judge David O. Carter in Santa Ana denied a motion by Anna Nicole Smith to dismiss a challenge to another court’s award of $475 million to her from her late husband’s estate Autobody by Caldwell Inc., Laguna Hills, sued DuPont Co., PPG Industries Inc., and three other paint makers, alleging price fixing Edwards Theatres Circuit Inc., Newport Beach, closed the four-screen Town Center theater in Costa Mesa Venus Swimwear Inc., Jacksonville, Fla., field a trademark-infringement suit against Anaheim-based Pacific Sunwear of California Inc. over the latter’s Venus Girl Trap products Former OC Register president John Schueler was named publisher of the Daily News of Los Angeles Former Josh Slocum’s restaurant owner Kevin Finegold sued Dennis Rodman and his partners, alleging they have not paid $42,500 of the agreed purchase price of the Newport Beach restaurant Four people filed suit in OC Superior Court against Sony Pictures Entertainment Inc., alleging fake rave reviews on the company’s advertising duped them into seeing bad films.
