Stories for January 2001
Sunday, January 28
A little more than a year ago, Irvine-based Exult Inc. was an unknown start-up with a relative trickle of $2 million in yearly revenue. But then Exult convinced no less than global oil colossus BP Amoco PLC to turn over its human resources operations to t
McKinsey & Co. opened an Orange County office nearly five years back as a satellite of its larger Los Angeles operation. Since then, the consulting firm's Costa Mesa office has catapulted into a Southern California hub of sorts.
Doner in Newport Beach has placed client PingPong Technology on hold as the Fountain Valley software maker reshuffles its business plan.
Many view California's electricity crisis as proof that electricity deregulation and indeed deregulation in general does not work. This is wrong. California did not deregulate its electricity market, but rather "restructured" it, requiring far more state
The online investment bank and consortium of angel investors closed its Newport Beach office at the end of the year and consolidated its operations at its Chicago office.
As talk of recession and slower consumer spending weighs heavy on the nation's retailers, some Orange County companies are defying the odds while others are seeing their fortunes crumble.
The Orange County office market includes 114 high-rise structures with seven or more floors, totaling 23.7 million square feet of net rentable area. Among the activity in the high-rise market during the fourth quarter was the move of Verizon Wireless out
Modern Southwestern cooking was literally invented by a trio of chefs in the mid-'70s. There was first and foremost, John Sedlar, born and raised in Santa Fe with time spent in Spain and France due to his father being in the Air Force. He was a gifted che
Technology Open Bid Exchange opened a 26,000-square-foot headquarters in Lake Forest last October amid much fanfare about its business, an independent online marketplace for buyers and sellers in the technology industry. But now the company appears to hav
The 70-room Inn at Laguna Beach at the north end of Main Beach Park in downtown Laguna Beach is up for sale for an estimated $21 million.
Olson Urban Housing LLC purchased a 16-acre parcel in Anaheim from Polygon Development for $7.9 million. Olson represented itself. Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage's Anaheim Metro office and David Alderman of Voit's Irvine off
Who says there's no activity in the North County? Overton Moore Properties might argue, considering it has announced plans for the development of The Com-merceCentre@Buena Park. The $90 million business park will rest at the site of the former Lucky Store
Orange County's largest law firms added attorneys at a rate more than double the county's overall job growth rate, according to this year's Business Journal list of local law offices.
The dot-com meltdown and uncertain economy are putting the brakes on the sharp run-up in first-year associate salaries seen last year.
Irvine-based Toshiba America Electronic Components Inc. says it's talking with wireless service providers about them sending video, news and other data to mobile phones and other devices in a bid to drive demand for a new Toshiba digital media chip.
Law Firms' Marketing May Finally Be Growing Up; Competitive Pressures Cited
Irvine-based Standard Pacific Corp. reported earnings of $41.0 million on revenue of $501.8 million for the fourth quarter ended Dec. 31, compared with earnings of $21.3 million on revenue of $378.1 million in the fourth quarter of 1999. For the year, the
Maximizing Your Real Estate Equity (Courtlandt Financial Group) Costa Mesa 11:30 a.m. Free (949) 251-6901 You and Your 401(k) Rollover Workshop (Salomon Smith Barney) Irvine 5:55-7:15 p.m. Free (949) 955-7562 Toastmasters Water Meeters meeting Irvine
Several Irvine Company retail and commercial executives have been promoted and two of the company's best-known executives have departed as the company continues to reorganize its management ranks.
Electricity troubles have monopolized state lawmakers' time in recent months. But the energy crisis isn't the only issue the California Legislature will have to deal with as 2001 forges on.
In the past few years, Action Sports Retailer Trade Expo has evolved from a showcase for surfwear and surfboards into a catchall for edgy sportswear of all types.
Are Taco Bell Corp.'s customers switching camps to dashboard dine at rival Del Taco Inc.?
Caribou Industries, which has submitted plans to erect the tallest building in Orange County and is a big player in the remaking of downtown Santa Ana, has paid $13.8 million for Park Tower Center near the Civic Center.
Boeing Co. has made an internal venture capital investment in an unmanned submarine project stemming from its Anaheim operation.
The entrepreneur customizes and sells power generators to businesses and homeowners. And as the power crunch in California shows no signs of ending soon, many Orange County companies are looking to generators as a quick fix.
Kirk Brantley says he can pinpoint exactly when California's electricity crisis hit its latest level of intensity.
Leila Weir joined Elliott, Lewis, Lieber & Stumpf, Santa Ana, as a senior accountant. Weir's expertise comes from working with the manufacturing sector.
Caught Between Focused Boutiques and High-Paying Giants, Mid-Size Firms Struggle for Niches, Associates
Armed with flashlights and calculators, Orange County restaurant operators are readying for the rolling blackouts they have faced at their Northern California facilities.
So far in the energy crisis, all of the talk has been about avoiding a scenario that would force one or more of the state's big utilities into bankruptcy. But there are some suggestions that a Chapter 11 reorganization might be the best way to deal with t
Intersil Corp., Irvine, will sell its discrete power unit to Fairchild Semiconductor International Inc. for $338 million Corning Inc. broke ground on an optical networking devices plant in Fountain Valley where it plans to consolidate its 200 OC employe
Tenet Healthcare Corp., Orange County's largest hospital operator with 10 facilities here, has reached agreement on extending its contract with Blue Cross of California, which counts 459,400 local enrollees.
On a warm winter day last month, Takayoshi Ohgami and Mihoko Hashimoto realized their dream,exchanging vows in a Western-style church wedding at Knott's Berry Farm, complete with Snoopy in attendance.
The Tools of the Trade Now Include Data Centers and Laptops; Courtroom Connectivity Is an Issue
At Downtown Disney, 1545 Disneyland Drive, Anaheim; (714) 376-ESPN; open 11 a.m. to 12:30 a.m. Sunday through Thursday; until 1 a.m. Friday, Saturday; full restaurant, bar, 10,000-square-foot sports arena, screening room, retail shop.
Orange County posted the fourth-largest dollar increase in exports in 1999, according to the latest figures from the Department of Commerce.
Glendale-based American Reprographics Co., the parent of Irvine-based OCB Reprographics, has acquired Universal Reprographics South Inc., also based in Irvine, for an undisclosed sum.
Sunday, January 21
San Clemente-based Rusty Pelican Restaurants Inc., whose 30-year Newport Beach oceanfront restaurant lease expires in June, has filed suit against its landlord in a dispute over extending the lease.
Office construction activity flourished throughout 2000, with the completion of more than 4 million square feet of office space. Low-rise projects dominated the development activity, the majority of which were located in South Orange County. During the
Zelman Retail Partners Inc. bought a 105-acre property in Burbank from Lockheed Martin Corp. for $70 million. Bob Hamilton of Allen Matkins Leck Gamble & Mallory LLP represented Zelman. Tom Muller at O'Melveny & Myers represented Lockheed Martin.
The Orange County banking sector is getting a new player that has a habit of buying failed thrifts. Ventura-based Affinity Bank just bought the Irvine branch of Tustin-based FirstPlus Bank, a subsidiary of Dallas-based First Plus Financial Group Inc., whi
As the end of the Vietnam War neared in 1975, Co Pham fled his South Vietnamese home for the U.S. Pham, then 30, was one of thousands of refugees who chose to begin their new lives in Orange County.
As a political activist, Buck Johns considers California's energy crisis a fiasco. As a power plant builder, well, he could hardly be happier.
This is a response to the Dec. 11 letter from Maryann Maloney, executive director of Citizens Against Lawsuit Abuse.
Dr. Ralph Cygan, UCI Medical Center's chief executive, has a few other things on his mind besides building a new hospital and keeping business up without managed healthcare contracts. One of those things involves increasing the Orange hospital's presence
This is familiar territory. During the 1990s, I wrote the technology column for the Business Journal as a reporter for the paper. Now I'm back as editor and temporarily filling in on column duty. Our former tech writer, Peter Brennan, has gone on to Bloom
Point Research Corp., Fountain Valley, received a contract from the Army valued at $730,000, to develop an improved navigation system for light tactical vehicles.
Orange County consumers reported optimism and confidence in the economy and in their overall quality of life, according to a study conducted by a California State University, Fullerton, research team late last year.
The local defense industry,a shrinking sector for much of the past decade,could shore up Southern California's economy this year amid a national slowdown, forecasters said.
Employment Law Update (Fisher & Phillips LLP) Irvine 8:30 a.m. $45 (949) 851-2424 What Every Woman Should Know About Investing (Morgan Stanley Dean Witter) Costa Mesa 6 a.m. Free (949) 760-2454 Increasing Productivity,Strategies for Building Effective
Conexant Systems Inc., Newport Beach, postponed the spin-off of its Internet equipment unit and posted a loss in line with lowered expectations for its fiscal first quarter ICN Pharmaceuticals Inc., Costa Mesa, warned profits for 2000 and 2001 would tra
Orange County shopping centers still are adding sales for the 2000 holiday season but already officials say they expect growth to be more tepid than a year ago.
Available meeting space at Orange County's largest hotels increased 1% in the past year to 948,066 square feet at the 50 hotels on this year's list, but the amount of space needed to break into the largest 50 locations increased as new hotels with big mee
Anaheim's Newly Expanded Convention Center Keeps City in First Tier for Meetings
New 18-hole golf course at 990 Avenida Talega, San Clemente (three miles east of I-5 off the Avenida Pico exit). Owned and operated by Heritage Golf Group. 6,951 yards from the back tees, with four tee settings. Resident rates are $125 Monday through Thur
Silicon Valley Bank is heading into the private equity market this year with a full head of steam. At the end of 2000, it closed two venture funds totaling $178 million; one to invest into venture capital funds and the other to invest alongside venture ca
Corbin & Wertz named James F. Moscowitz a principal of the company's business management consulting team. Moscowitz specializes in business valuation and discount analysis; he has a master's degree in tax law.
Gish Biomedical Inc., a publicly traded medical device maker, moved from its longtime Irvine base to a 51,000-square-foot building in Rancho Santa Margarita this month. The device maker's new facility, at 22942 Arroyo Vista, houses administrative and manu
The fate of a United Parcel Service Inc. logistics operation in Ontario for dot-com companies,still without a client three months after its launch,is up in the air.
Costa Mesa-based PriVest Bank caters to an exclusive roster of some 300 wealthy clients with courier services at their disposal so they never have to leave their homes or offices to bank.
Monday, January 15
Working with Newport Beach-based Pacific Investment Management Co.,a leading manager of fixed-income investments,seems to have helped Raymond Pentz.
Huntington Beach surfwear maker Quiksilver Inc. is hoping to score a hole-in-one with a new line of edgy golf clothes designed by John Ashworth.
Play by Arthur Miller, directed by Richard Stein, through Feb. 4 at the Laguna Playhouse, 606 Laguna Canyon Road, Laguna Beach, $34-$43, call (949) 497-2787; lagunaplayhouse.com
With Gary Simon named as the county's new El Toro czar, the next key appointment in the base reuse effort will be the hiring of a new director of the Orange County Regional Airport Authority, comprised of pro-airport north OC cities. The job, vacant since
Orange County isn't known for its biotechnology companies like neighboring San Diego or even the Bay area. But with the spinoff of ICN Pharmaceuticals Inc.'s Ribapharm Inc. subsidiary in coming weeks, OC will have a sizable, publicly traded biotech compan
Venus Textiles Inc., a maker of table linens, cotton towels and chef uniforms, has moved its headquarters from Huntington Beach to Foothill Ranch.
Aliso Viejo-based Fluor Corp. last week announced a strategic alliance with Carollton, Texas-based Primedia Workplace Learning to develop an 80-course online training series for industrial maintenance and operations personnel.
A year or two ago, everyone was heady on dot-com dollars and savoring the flavor of a robust economy.
For the past five years, California banks have been a target of out-of-state suitors hoping to gain a foothold in the Golden State. And in the past five years, Eldorado set itself up to get picked up as well. Its holding company acquired five banks that t
Sometimes a good thing is not too much. After spending the last few weeks compiling information on Orange County's office and business parks (see the Special Report beginning on page 17), another office park story leads this column.
Hong Kong consumer electronics maker Kessel International Holdings Ltd. has set up its U.S. headquarters in Irvine.
When Orange County companies start releasing fourth-quarter results this week, the news stands to be grim for many. But some local companies stand to defy a trend toward reduced profitability and slower sales.
UCI Medical Center Chief Executive Ralph Cygan just nabbed $235 million in state money to build a new hospital and says he plans to turn to the business community and other donors for additional funding.
Geriatrix, a San Diego-based healthcare company, said last week that it acquired For Health Inc., Costa Mesa, for $7.4 million in stock. Geriatrix said the transaction will give it an annual revenue base of about $20 million.
With the cost of natural gas skyrocketing after years of rock-bottom prices, homeowners and businesses operators who heat with the fuel aren't the only ones experiencing natural-gas sticker shock.
Irvine-based Toshiba America Business Solutions, a unit of Tokyo-based Toshiba Corp., is digging deep to get customers to notice copiers and other office products from its Electronic Imaging Division.
Managed healthcare service plans continue to receive scholarly attention, including a new examination of consumers by a University of California, Berkeley, research team. And their findings seem to stroke health plans that follow the line of Kaiser Perman
Health Care Property Investors Inc., a Newport Beach real estate investment trust, sold seven assisted-living facilities with 774 units for $51.6 million in two separate transactions. Two Portland, Ore.-based companies, Regent Assisted Living Inc. and Enc
The California Technology, Trade and Commerce Agency plans to open a Financial Development Corp. office in Orange County later this year to offer loans, bond financing and credit lines to small businesses.
Irvine-based Transportation.com has a jump on its competitors in at least one respect: the Internet start-up is funded in part by one of the nation's largest freight transportation companies, Yellow Corp.
Using Streaming Media to Boost E-Commerce Sales (Electronic Commerce Organization) Newport Beach 7:30 a.m. $25/$40 (949) 450-7377 Business Networking Luncheon & Mini Expo (RBN, The Orange County Business Connection) Irvine 7 a.m. $20/$25 (949) 830-5776
They say it's not over till the fat lady sings. Well she did, at least in the case of Diva in Costa Mesa getting a name change. Last month, it became Bistro 201 at Plaza Tower. The name distinguishes it from the original Bistro 201 in Newport Beach, which
The Mid-Counties Market is defined as the cities along the border of Orange and Los Angeles counties. The strength of the market continued through the third quarter of 2000, as indicators remained positive in both the office and industrial sectors.
This is my last column for the Orange County Business Journal. By the time this is published, I will be working for Bloomberg LP in Los Angeles. It's been a fun ride for the past three years, and I'd like to thank the Business Journal's readers for their
The Los Angeles County Economic Development Corp. took a big step last week toward shoring up its position as a major regional economic development force as it folded the management of the World Trade Center Association of Los Angeles-Long Beach into its
Unrestrained excitement over the Internet's potential to change healthcare spawned a string of companies with bubbly, frothy business models that since have burst.
Broadcom Corp., Irvine, said it will acquire ServerWorks Corp., Santa Clara, for 11 million shares plus up to 9 million additional shares based on future performance (Broadcom was trading around 90 last week, giving the deal a potential value of more than
Fifty-seven percent of top executives have corporate aircraft reserved for their use, while 55% benefit from paid spouse travel and chauffeurs or limousine service. In contrast, only 29% of top management and 14% of middle management benefit from corporat
Ralph Kuhen was hired as a tax partner at Hein & Associates LLP. Kuhen has 28 years of experience in tax planning and was previously with Carpenter, Kuhen & Sprayberry, CPAs.
In the way it has caught us flatfooted, and in the staggering sums (billions of dollars) in play, the California "energy nightmare" has an unsettling resemblance to the last crisis to come this way, namely the Orange County bankruptcy.
Monday, January 8
The state Public Utilities Commission said Edison International and Pacific Gas & Electric, which serve all but Anaheim in OC, can implement, 90-day electricity rate increase of 7% for residential users and 12% to 15% for businesses; midsize companies wil
Orange County is a hub for medical device makers, and it's set to play host to 2,000 industry officials and 10,000 attendees this week at the Medical Design & Manufacturing West 2001 trade show in Anaheim.
Joachim Splichal and wife Christine, founders of The Patina Group in Los Angeles, are gearing up for the opening of not one, but two restaurants this month at Downtown Disney in Anaheim (see related story, page 21).
Aaron Pai, owner of Huntington Surf & Sport Inc., could be considered surfing's equivalent to Sid Grauman, the man behind the famous hand and footprints at Mann's Chinese Theatre in Hollywood.
As an Irvine-based partner with PricewaterhouseCoopers LLP's Global Contractor Compliance practice, Knox works with companies to set and meet global compliance standards for factories they contract with. She regularly visits plants in China, Central Ameri
After surviving 30 years as a bank in Orange County,through disco, the Reagan Years, a string of bank failures in the early 1990s and industry consolidation,Sunwest Bank could soon find itself the largest bank headquartered here.
More than 40 million people are expected to visit Orange County this year, including about 7 million from overseas.
AMDL Inc., a Tustin developer and marketer of cancer tests, has sold 2 million shares of its common stock worth $2.7 million to a Taiwanese distributor.
The developers of Pointe Anaheim, a proposed $545 million shopping and hotel complex across from Disneyland, say they soon expect to close escrow on two properties making up two-thirds of the land needed for the project.
It's time to take a stroll in the park, at least the part that's open. And that would be Downtown Disney for some dining. While Disney's California Adventure theme park won't have us strolling the avenues till February, the non-admission esplanade of them
Santa Ana-based Two Brothers Racing bought a 35,973-square-foot facility at 401 S. Grand St. in Santa Ana for $2.1 million. Lee & Associates represented Two Brothers and the undisclosed seller.
When Experian Inc.'s new Costa Mesa headquarters is finished this year, the credit-rating and business consulting company will lay claim to one of the most modern corporate campuses in Orange County.
The month of January is a time of change,a time for a fresh start, a new beginning. As the new real estate reporter, it didn't take me long to realize what a vibrant area I'd stepped into. In recent years, Orange County has become an attractive address fo
Orange County's daily newspapers are raising their subscription rates as part of an overall push to offset rising operating expenses.
Hospitals in Orange County and the rest of California could see around $1.17 billion from a Medicare funding package signed into law by President Clinton late last year, according to the California Healthcare Association.
Aliso Viejo-based WhyRunOut.com, an online home-delivery service for groceries and others items, is treading cautiously in a bid to avoid the pitfalls that have tripped up other dot-coms.
Orange County has a new cable company with ambitious plans for Internet access and digital phone service over its fat coaxial pipes.
By John Crean, with Jim Washburn. Hardcover, 436 pages; $25; available at By John Crean, with Jim Washburn. Hardcover, 436 pages; $30 postpaid; available at www.hotrange.com or from John C. Crean, PO Box 8449, Newport Beach, CA 92658-7452.
Escrow.com and eCredible aren't exactly household names, but they are the e-commerce plays of big insurance companies, and now they're working together.
Growing up in northeastern Ohio, Cedar Point in Sandusky was the crown jewel. I always eagerly awaited trips to that park. Still, I can remember how jealous I was the day a friend won a trip to Disneyland in an art contest, because even little kids half a
The magazine plans to debut design and format changes with its February 2001 issue, which hits newsstands this week.
Irvine financial services firm Global Vantage Ltd. is expanding with a new office in Dallas and one set to open in Calgary, Alberta, next month.
Aliso Viejo-based Enfrastructure Inc., which is readying for the move-in of the first company to its high-tech campus later this month, has landed $100 million in new funding from AT & T; Corp., Avaya Inc. and other corporate backers, according to co-founder
Sekisui TA Industries Inc., a Garden Grove-based packing tape and supplies maker that's part of Japan's Sekisui Chemical Co., plans to move in April to a new 185,000-square-foot headquarters being built in Brea.
Telmar Network Technology Inc., which adopted a new name in September after several acquisitions, is getting a new building to put it on.
Business Plan Development (SCORE) Costa Mesa 9 a.m.-Noon $25 (714) 550-7369 Rewarding Excellence, How to Pay the Person for the Job (University of Southern California) Irvine 7 a.m. $35 (949) 752-5505 How to Build a Winning Management Team (Foundation
Orange County chipmakers are starting 2001 with a hangover from a party that's raged on for the past few years. But analysts say their future may not be as challenging as it seems from Wall Street, where their stocks have been hammered.
Sixty percent of households spend between $50 and $100 on groceries weekly. The most popular products purchased in the past year were ice cream (96%), ground coffee (79%) and dental floss (79%). Twenty-five percent said they want more fiber in their diets
Continuing its expansion out of the Inland Empire, Redlands Centennial Bank is opening a branch in Brea.
After 12 years in north Tustin, T.C. Newman and wife Ruby are leaving for Jacksonville, Fla., where Newman has just bought his own golf course. Newman, 50, is a human resources consultant, former corporate executive (with Pfizer's Shiley division and Warn
Elsa Neira was named account executive for Lawrence, Mayo & Ponder, Newport Beach. Neira comes to the agency from DGWB Advertising, where she was an account executive. She will manage activities for several state programs and will be the Hispanic markets