Stories for May 2001
Monday, May 28
Protecting Wishes and Assets (Council on Aging) Mission Viejo $5 (714) 560-0424 Single Professionals Integrated Network meeting Irvine $35 6-9 p.m. (949) 515-8264 Fidelity.com (Fidelity Investments) Irvine 11 a.m. Free (800) 331-5829 Financial Plann
Gov. Gray Davis ordered state officials to give 24- and 48-hour forecasts of when and where rolling blackouts are likely and one-hour notification of precise locations where blackouts will occur Reliant Energy said it would cut prices for power produced
As many as 300 workers have lost their jobs as compact disc manufacturer Cinram International Inc. winds down its Anaheim plant, a company official said.
Linksys Group Inc., an Irvine-based seller of computer networking devices for consumers, is quadrupling the size of its headquarters with a move to a recently refurbished building near John Wayne Airport.
McCarthy Building Cos. has begun the first phase of the Newport-Mesa Unified School District's $163 million improvement program.
Glenn M. Gelman & Associates added Tommy Glenn and Jeffery Fritz to its Santa Ana-based practice. Glenn will direct the management consultant team. Fritz will be senior audit manager.
Last week a trade mission representing the Argentine province of Neuqu & #233;n visited Irvine to promote the province's significant oil and gas reserves as well as its electrical generating capacity.
The California Division of Tourism last week designated MainPlace mall as the location for one of two new California Welcome Centers to be opened this year.
So far this year, no Orange County company has dared the icy waters of the initial public offering market as eight OC companies have withdrawn their planned offerings and seven more have put theirs on hold.
Prescription Solutions, a Costa Mesa-based unit of Santa Ana-based PacifiCare Health Systems Inc., is moving beyond its mainstay business of managing pharmacy benefits with a clinical consultancy for the drug industry and its clients.
Irvine-based DisplayWorks, a trade show and exhibit house that counts the likes of Quiksilver, Broadcom and the Walt Disney Co. among its clients, opened an office in Torrance last week. The 4,100-square-foot facility on Amapola Ave. will serve as a sales
The O'Donnell Group has broken ground on a 192,000-square-foot Anaheim industrial building with the hopes of luring big distributors to the sprawling site.
The Santa Ana-based business group is seeking to more than double its membership from 468 now to 1,000 within the next two years.
Tustin-based al Punto Advertising Inc. recently beat eight other agencies to win Torrance-based Wherehouse Entertainment Inc.'s $2 million Hispanic advertising account.
Event: Chalk Hill Wine Dinner, Monday, June 4, 6:30 p.m., $100 all-inclusive. Reservations imperative
CB Richard Ellis Services Inc. is relocating some 300 accountants, asset managers and technology workers from Newport Beach to Irvine, near John Wayne Airport.
While the first half of 2000 was one of the best ever for investment banks involved in underwriting and managing initial public offerings, the months since have been among the worst.
When Cynthia Harriss gave the keynote address at last year's Women in Business awards luncheon, she called the winners "individuals who will serve us as role models."
The unit of Kansas City, Mo.-based H & R; Block Inc. currently is in five buildings in the Irvine Spectrum along with Option One Mortgage Corp., another H & R; subsidiary.
GRAY DAVIS CAN'T LEAD AND HE CAN'T MANAGE, AS THE ENERGY CRISIS has painfully demonstrated, but the man can sue.
Politicians in California have been charged with the enormous responsibility of protecting the interests of residential energy customers as well as the interests of California businesses that were promised lower energy prices under electricity deregulatio
A little past the one-year mark, HealthBridge Children's Rehabilitation Hospital in Orange is seeking to shore up its financial picture and boost its profile.
Mike and Tilda Sabunjian bought the 10-unit McClay Apartments at 121 N. McClay St. in Santa Ana from Thomas and Paula Miller for $0.6 million. Rick Applebaum and Grant Hahn of Morgan Skenderian Investment Real Estate Group's Newport Beach office represent
In a sign the once hot data center market has cooled, Santa Clara-based Exodus Communications Inc. may pull out of a 15-year lease for space at Parker Hannifin Corp.'s former aerospace group campus in Irvine, sources familiar with the dealings say.
It's hard to remember memory being so bad. And the next few months could be a time many memory makers could end up wanting to forget.
From cash reserves to the quality of their loans, banks endure a lot of poking and prodding from government agencies. That same regulatory oversight has made banks among the most prepared for California's power crunch, regulators and executives say.
Kaiser Permanente is spending $25 million to build the first two phases of a medical office complex at the corner of Harbor and MacArthur boulevards in Costa Mesa.
Paper Says Focus on Region Is What Readers Want; Advertisers Watch for Fallout
Irvine's University Research Park is adding some new tenants after losing a few to the dot-com meltdown and technology downturn.
A bad market or not, Orange County was home to some of the best-performing newly public companies of the past year.
The Orange County retail real estate market enjoyed a very strong 2000: retail sales in the county increased 8.9% in the year. While sales are forecast (by Chapman University) to increase another 5.9% in 2001, overall market indicators in the first quarte
Monday, May 21
As economic concerns proliferate, even the most recent projections for the 2001 summer tourist season appear as dated as a 14.4K modem.
Real estate officials say The Irvine Company has cut lease rates for some Irvine Spectrum buildings to where they were six months ago and others are following suit amid slackened demand from technology companies.
These are the major commercial buildings under construction in Orange County:
We've all seen a lot of glitzy and dramatic productions in our travels, our visits to the theater and at places that specialize in over-the-top entertainment. However, I never expected to be so impressed by a production for a corporate affair as I was by
Newport Beach-based Buchanan Street Partners Inc. has raised a $25 million joint-venture equity and mezzanine investment fund for real estate deals.
After years of heady growth, Mexico's manufacturing hub along the California border is at a turning point.
Interior Architects Inc. promoted Jeanne Cranford to associate. She was previously a project director. Her responsibilities include design and management of projects in the corporate, healthcare, financial, justice and retail market segments.
Newport Beach-based chip maker Conexant Systems Inc. faces the prospect of more costly borrowing just as the company could most use some cash.
This week's Business Journal list of the top 45 private companies is heavy with movers of food, petroleum, metal and other goods. Seven of the companies,including four of the top 10,are involved in the distribution of products or services.
Orange County's largest privately held company has operated below the radar as a marketer of potato chips and other grocery items. The Irvine-based company handles products from Tropicana Products Inc., Unilever NV and Mars Inc.
Philip Schwartz, a scientist and coordinator of the brain and tissue bank for developmental disorders at Children's Hospital of Orange County, is part of a group studying alternatives to fetal tissue as a source of viable brain cells.
Orange County has long been the stepsister to Los Angeles in the visitor market, but when it comes to high-end beachfront resorts, OC may be taking the lead.
AccentCare Inc., an Irvine-based elder-care services company, has received $25 million in a third round of private financing.
Taxpayers are at risk for several billion dollars because the state has used public funds to underwrite the cost of electric energy for homes and businesses.
What's Gone Wrong and What's Next for Our No.1 Partner in Asia? (World Affairs Council and Chapman Univ.) Orange 6 p.m. $15/$43 (949) 249-3015 Executives Go Elementary (Advancing the Business of Technology) Irvine 7:45 a.m. Free (949) 477-5300 ext. 101
There's an old-fashioned corporate donnybrook going on at Milan Panic's always-controversial ICN Pharmaceuticals Inc.
The Los Angeles industrial market in the first quarter managed to outperform last year's first quarter in many areas: vacancy and lease rates held steady and construction activity increased.
The state Public Utilities Commission approved rate hikes of 36% for commercial users of electricity, 50% for industrial users, and zero to 71% for residential customers, depending on their level of consumption Moody's Investors Service downgraded $25 b
Commercial Real Estate Update The industrial market slowed in the first quarter, but no one's panicking
Builders, Owners Remain Upbeat as Tight Industrial Market Loosens in First Quarter
After years of debate and over the objections of the healthcare industry, an exacting set of federal rules intended to protect patients' medical records were allowed by the Bush administration to take effect last month.
Tag teaming isn't just for pro wrestling, as Irvine chipmaker Intersil Corp. and Holtsville, N.Y.-based Symbol Technologies Inc. are demonstrating.
Wilmington Trust, a 98-year-old Delaware-based investment firm with $26.1 billion in assets under management, will open an office in Costa Mesa in July.
A funny thing is happening in this economic slowdown. More people are attending professional events. NAIOP's May 3 Night at the Fights, OC United Way's May 8 real estate industry luncheon, last week's Harvard Business School Association of OC's Entreprene
Another bank is in formation in Orange County, but California First National Bank in Santa Ana is not going to act like most other banks.
Tom Yoshimura says he always carries a Spanish dictionary with him. It's his best weapon in Southern California's Asian noodle battleground.
The owner of Orange-based David Wilson Auto Group, the largest independently owned car dealer in OC and the county's No. 7 private company, grew sales by 43% last year to $1.03 billion, spurred by four new dealerships.
Colliers Seeley International Inc. has found recent success in the industrial sector,an area that has some in the real estate community nervous (see story on page 26).
Five months into the job, Mexican President Vicente Fox's approval rating hovers around 65%. Just about everyone, even those who didn't vote for him, seem to lend Fox support because of the dramatic change he represents.
The Irvine Company purchased the 171,979-square-foot Palm Court at 15616 to 15635 Alton Parkway in Irvine from Connecticut General Life Insurance Co. The Irvine Co. represented itself. A. Martin Morgenstern, Rick Hamilton, Jon Nesbitt and Rick Kaplan of C
When advertising and marketing budgets get pinched, Insync Media can feel the squeeze.
While a deal for Gil Amelio to take the reins at an upstart Irvine technology company has fallen through, the former Rockwell International Corp. executive still plans to return to Orange County,this time for Bay area venture capital firm Sienna Ventures.
Driven by the combination of a general national economic slowdown and the closing or downsizing of a number of key Orange County high-tech facilities, for the first time in six quarters office absorption in Orange County overall came in at a net negative
The last thing needed by California's electric utilities,already strapped for hydroelectric power, natural gas and cash,is another shortage.
After five years of steady and sometimes explosive growth, the Orange County office market showed signs of settling during the first quarter.
Schwinn/GT Corp. has signed a $6 million, five-year lease to occupy a 323,660-square-foot facility in Fontana and will move its operations there from Santa Ana in June.
As other Orange County technology companies nervously await more rolling blackouts this summer, Conexant Systems Inc. isn't sweating.
Monday, May 14
Here's a lunch and dinner idea I do not want you to miss. A few months ago, I wrote extensively about convivial bars in the county that lend themselves very well to dining while you happen to be there having a drink. Let me tell you about another of the g
Last week's rolling blackouts renewed calls by Orange County manufacturers for better notification by Southern California Edison of future outages.
After trimming nearly 1,000 jobs company-wide since January, Ingram Micro Inc. Chief Executive Kent Foster says more cuts could be coming, and many could be in Orange County.
From modest offices next to a factory in an industrial park, Anaheim-based Unique Partners LLC doesn't look like anything spectacular. But the acquisition and management firm's $40 million, 12-company portfolio has returned $85 million in the past six yea
Forget "Survivor" or even "Ultimate Fighting Championship." When it comes to tough and nasty, there's nothing like a taxicab turf battle. Take John Wayne Airport. A consortium led by former airport franchise holder Larry Slagle of Yellow Cab of North Oran
Reflecting its more aggressive management and marketing regime, the Koll Center Irvine office complex is being renamed Irvine Center Towers. The new name follows the January hiring of Transwestern to handle the property management and leasing of the 900,0
The Council, formed in 1996 by the Orange County Business Council, lost its funding in 1999 and in 2000 its first executive director, Bruce Brown, who retired last year.
Orange County hospitals are wondering where they'll come up with the millions needed to pay for meeting the state's law requiring hospitals to be able to withstand a major earthquake.
The blistering pace of market activity set during 2000 may be yielding to more normal rates. While some key market indicators maintained or surpassed those of the first quarter of 2000, others could be the first signs of a cooling trend. Transaction activ
Normally, what executives don't plan to do isn't necessarily news. But when the executive sells computer memory products,the prices of which have fallen at a rapid clip,and other memory companies already have sacked workers, well, it is news.
RiechesBaird hired Marc Rogers as a Web project manager. Rogers will be responsible for the analysis, design and production of Web-based applications. Prior to joining RiechesBaird, Rogers worked at Blue C Communications as an account executive in new bus
The number of venture capital deals in Orange County has almost dried up and only a few companies here got lucky in the first quarter.
When the Anaheim/Orange County Visitor & Convention Bureau was formed in 1961, it conducted business from a farmhouse surrounded by orange groves and its members simply hoped to make Anaheim a year-round destination.
THAT COULD BECOME A NICKNAME FOR GEORGE W. BUSH. For "Slow George" is proving to be a seer.
If U-Haul International Inc.'s migration trend numbers are any indicator, then Orange County got a little less crowded in the first four months of this year.
Rolling blackouts hit OC and elsewhere last week as demand due to warm temperatures overstressed the state's electricity grid The Legislature passed and Gov. Gray Davis signed a bill authorizing a $13.4 billion bond to fund state energy purchases Davi
Over the last few years, the biggest problem with the state budget has been what to do with all the additional money. California's general fund spending has nearly doubled in six years.
The newest software maker on the block looks pretty tough, at least from Wall Street.
Kensington Jamboree LP acquired the 60,000-square-foot Jamboree Promenade in Irvine.
A very low-profile privately owned Huntington Beach-based bond manager,Allegiance Capital Inc.,has in 13 years grown to become the second-largest bond manager in Orange County, next only to the mighty Newport Beach-based PIMCO Advisors LP.
For Orange County exporters, Brazil is the China of Latin America. It's as big and promising as it is onerous and intimidating.
Like other marketing firms, the Irvine office of DWP//Bates Technology is vying for new business at a time when most technology companies are cutting back on marketing. But DWP//Bates, an Atlanta-based unit of Bates Worldwide, also faces the challenge of
Financing Real Estate in an Uncertain Economy (ULI District Council) 7:30 a.m. 9:15 a.m. $20/$55 (949) 380-3308 Power and Energy Issues (Forum for Corporate Directors) Costa Mesa 5:30 p.m. Free/$75 (714) 771-3404 Understanding the Energy Crisis-Wha
But when his Orange National Bank was acquired by Citizen's Business Bank, he left under a non-compete agreement.
Robert B. McKnight Jr. has the soul of a surfer but "dude" isn't part of his vocabulary.
The Internet as a large part of healthcare hasn't yet caught on in a big way among U.S. employers, regardless of size.
At the recent "Meet the Money" hotel conference in Los Angeles, major players agreed that debt and equity financing for hotels have become increasingly difficult. Changes in the market are likely to mean fewer deals this year. As a result, OC is likely to
After filing for Chapter 11 bankruptcy protection a few weeks back, the Internet stock quote and financial content site has met with possible buyers who could pump some capital and life back into the company.
Kelly Financial Resources, the finance and accounting division of Troy, Mich.-based temp agency Kelly Services Inc., earlier this month opened an office in Orange.
The compactly built, ruddy-faced Robert "Bob" Flaxman throws off an unblinking stare that recalls another Bob,Bob Conrad, whose 1970s-era Duracell commercials dared you to knock the battery from his shoulder.
With the market plunging, the bust of Internet companies and an economic slowdown, investment bankers found deal-making in the first quarter a harder proposition than selling ice to an Eskimo.
When the Walt Disney Co. last year announced the opening date for California Adventure, other tourist attractions in Southern California knew they had to ramp up their efforts to draw business or risk losing it to the mouse.
Monday, May 7
It looks like employees at Broadcom Corp. who choose to replace their old, worthless stock options may get to see some of the schizophrenic mood swings in stock price we saw in the fabled 1999 market.
Irvine-based software security developer Rainbow Technologies Inc. last week announced a partnership with Mumbai, India-based Global E-Secure to market Rainbow's iKey workstation security product to companies throughout India.
Orange County, with its tech-savvy residents and new housing developments to accommodate them, is seeing more homes equipped with high-speed fiber wiring, along with built-in appliances and other amenities. The result, local technology executives and deve
Orange County Transportation Authority officials say they are making slow but steady progress on contract talks with their 1,012 bus drivers, and union officials now say a strike seems unlikely.
While most start-up banks like to model themselves after other banks, Newport Beach-based CommerceWest Bank is modeling its business after a department store.
Orange County's United Way Real Estate and Building Industry Luncheon 2001 Irvine 11:30 a.m.-1:30 p.m. $100 (949) 263-6176 Measuring and Delivering Customer Satisfaction (USC Orange County Center) Irvine 7-9 p.m. $35 (949) 752-5505 The Role of the U.S
Sparking a potential trade show battle, Surf Expo is on its way to Orange County, home of the rival Action Sports Retailer Trade Expo in Laguna Beach.
Arthur Anderson tax partner R. Scott Mund has moved to the firm's Irvine office to lead the international tax services practice. Mund has 14 years of experience with technology, manufacturing, retail and distribution and entertainment industries.
For some time, Orange County health officials have wanted to expand local services for people with severe mental illnesses. The county's Health Care Agency unveiled one of those efforts earlier this month.
OC's top venture capitalist. Has put OC on the map of venture investing with his highly calculated, aggressive bets. Has invested in more than 65 startups. Firm has more than $1 billion invested in some 200 companies. Hits include Innovent Systems (acquir
The chief information officer at Irvine-based Buyproduce once considered the threat of rolling blackouts "media hype",until a wave hit Orange County a few weeks back.
GK Investments purchased a five-building industrial complex in Anaheim. The San Francisco-based real estate investment firm paid $4.85 million in acquiring the 64,000-square-foot complex.
For months, rumors have circulated that economic uncertainty and, specifically, the dot-com collapse is squeezing the sales of million-dollar homes in Orange County.
John Martin, who made news late last year when he resigned as chairman of both Diedrich Coffee Inc. and Easyriders Inc., has been quietly working on a new-economy retail venture.
Larry Thomas' sabbatical lasted a year and a half. The rejuvenated 53-year-old will return to The Irvine Company July 15 with a promotion, to group senior VP-public affairs, the Insider has learned. Thomas will oversee not only his old corporate communica
The Orange County high-rise office market is defined as buildings that are seven stories or taller. They are concentrated primarily in areas rich with amenities, and the high-rise office market is home to many high-profile companies looking for space in s
Event: Cooking-class fundraiser for the Foundation for Advancements in Breast Care, May 14, 6 p.m.
Last month, some die-hard Japanese baseball fans made the 5,500-mile trip across the Pacific Ocean to Anaheim to join a crowd of 31,087 at Edison International Field.
A year or two ago, the Irvine-based marketing company that runs sweepstakes and promotions was hunting down dot-com businesses and savoring the flavor of fat advertising budgets and a robust economy.
+++The Clinton Library Project in Little Rock was hit with a huge lawsuit. It claims that the plan to fund the library is not legal. Look, either you're building a monument to Bill Clinton or you're not.
Recently filed proxy statements show that top executives at sunglasses maker Oakley Inc. were handed raises and hefty bonuses last year, but their counterparts at Pacific Sunwear of California Inc. did not fare as well.
Brown Associates bought the 5.29-acre La Verne Retail Center in La Verne from F & W; Development for $5.4 million. Reza Etedali and Mehran Foroughi of Sperry Van Ness' Irvine office represented Brown Associates. John Kiley of Kahl & Goevia represented F & W
Former Irvine Co. spokesman Franz Wisner is travelling around the world with his brother Kurt. This is his fourth installment.
If public offerings and venture capital are the sexy sides of business financing, then mezzanine funding is the nuts and bolts, the block and tackle, the vanilla ice cream.
Chapman University in Orange has lured Butler from the University of Kansas to become dean of its Argyros School of Business and Economics. Butler is set to become business school dean and economics professor in July.
DICK CHENEY LAST WEEK OUTLINED THE BUSH ADMINISTRATION'S NATIONAL energy strategy. While the details will follow, the approach emphasizes production over rationing, private initiatives over bureaucracies and efficiency over austerity. Cheney plugged the v
Duke Energy proposed in a letter to Gov. Gray Davis that the state end investigations and lawsuits over power pricing by the firm in return for possible monetary concessions by the firm and political help for Davis Davis approached the creditors committ
Sales for 16 privately held Orange County-based restaurant chains grew a collective 10.1% last year to $1.9 billion, according to Chicago-based Technomic, a food-service research and consulting company.
The bear market finally mauled Orange County's equity money managers in the first quarter.
This week's Business Journal list of OC-based public companies ranks Nos. 101 to 150 by sales and includes a subprime lender, a rare coin and art dealer and an online stock quote service that recently filed for bankruptcy protection.
Sparking a potential trade show battle, Surf Expo is on its way to Orange County, home of the rival Action Sports Retailer Trade Expo in Laguna Beach.
In this issue, you'll find the OC 50, the Business Journal's annual grouping of the county's most influential businesspeople. The listing includes some familiar faces, notable newcomers and interesting drop-offs.
Tustin-based al Punto Advertising Inc. recently unearthed the first Spanish-language campaign for Laguna Hills-based Del Taco Inc.
The University of California, Irvine, Graduate School of Management received a first-place rating for overall value, a fourth-place for long-term return and was ranked 29th overall in The Wall Street Journal/Harris Interactive Business School survey relea
Santa Ana-based Gigante USA Inc. said it plans to open two supermarkets in Orange County within a year after reaching a pact with grocery union workers late last month.
"When people think of Boeing, people think of airplanes. We are changing our image into a space company," Albaugh says.
Irvine-based specialty drug maker Allergan Inc. is basking in Wall Street's good favor, thanks to some tiny toxic injections.