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Chinese Influx to OC? The New ‘Two Californias’

OC may see more folks such as Winston Chung, the Chinese battery magnate who is moving to Newport Beach, buying the Balboa Bay Club and looking here for a factory site. A Nov. 2 Wall Street Journal story cited a survey that found more than half of China’s millionaires either are considering emigrating or have taken steps to do so, with the U.S. the most popular destination. The story said that despite China’s rapid growth, the country’s business elite are concerned over economic problems and social issues …

There’s been talk about “two Californias” lately but not in the old north vs. south terms. Now it’s west vs. east. Irvine Company chief Donald Bren talked about the “vibrant” coastal communities and “devastated” inland areas in an interview with the OC Register’s Jon Lansner. Economist Jerry Nickelsburg contrasted the “dynamic” coast with the inland areas that are “still in recession” at UCLA Anderson’s economic forecast conference at the Hyatt Regency Irvine …

Econ roundup: Cal State Fullerton’s Anil Puri sees a “slow slog” but no double dip. Ditto UCLA’s Nickelsburg—a “very long period of slow growth” but no double dip. California Economic Forecast’s Mark Schniepp says OC is “leading the recovery” but we’re “not quite through the tunnel yet.” UCI’s Andy Policano predicts national unemployment dropping to 6%—in 2018. Chapman U weighs in Dec. 6 …

Zee Allred wearing the Hope Diamond. Allred, owner of Pool Water Products, Irvine, donned the famous stone during a visit to the Smithsonian with a museum support group. (Photo by Drago Gligic)

Biz writer Jim Flanigan (formerly with L.A. Times, now New York Times) is doing an authorized bio of Henry Segerstrom …

Permit the Insider the biased observations that E JS wore the flashiest tuxedo to Chapman U’s American Celebration gala and Kelly and Jim Mazzo had the best table. No bias in observing the generosity of event chairs Wylie and Bette Aitken, who pledged $2 million toward the planned arts center. The event also raised $2 million for scholarships …

What took so long? “Reality Cooking” with Jim Doti debuts this week on the digital OC Channel …

Discovery Science Center opens its “Star Wars” exhibit with a VIP party Thursday and kicks off the holidays’ “Science of Gingerbread” exhibit Nov. 25 …

“Life is good,” declares 81-year-old wonder Kelly Kelly, hard-knocks kid from East L.A., still-active co-founder of Newport Beach-based Spectrum Asset Management and recent recipient of Cal State L.A.’s Distinguished Alumnus Award. His secrets of youth? “Handball, chasing my bride around the bedpost, silver tequila and an optimistic attitude.”

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