Stories for February 2005
Monday, February 28
U.S. consumer spending was unchanged in January, a government report showed Monday, and a sharper-than-expected pickup in inflation sparked fears the Federal Reserve may raise interest rates faster than expected.
Allergan once again was touted as a takeover candidate, in the Healthcare column
Federated Department Stores Inc. on Monday said it would buy rival May Department Stores Co. for $17 billion in a deal that would combine Bloomingdale's, Macy's and Marshall Field's to create the largest U.S. department store chain.
Chipmakers face cleanup costs from leaks, tainted water and other environmental issues
Larry Dodge is bringing his Kansas City thrift to Foothill Ranch
U.S. inflation rose strongly in January while business conditions in the Midwest and New York City improved, according to data released Monday that bolstered expectations of U.S. interest rate hikes.
Oil prices steadied over $51 a barrel on Monday after Kuwait's prime minister vowed to do all he could within the Organization of Petroleum Exporting Countries to bring high-flying prices under control.
Roth Capital put its annual West Coast spotlight on growth companies
Anaheim-based Targus Group International Inc., a maker of computer accessories, could be up for sale for as much as $425 million.
SolarFlare has raised nearly $50 million in the chipmaker's latest round of venture funding.
San Clemente-based ICU Medical Inc. said Monday it plans to pay Hospira Inc. $35 million for a Salt Lake City plant.
Bren Happy With El Toro Neighbor Lennar; Blix Visits
Laguna Hills-based Interchange Corp. posted big sales growth in the fourth quarter, the company said Monday. But shares of Interchange, which links online advertisers to Internet searchers, tumbled in after-hours trading on the company's outlook for 2005.
Roy's is taking a tour of the Hawaiian Islands, in the Executive Dining column
Work at Quest Diagnostics has returned to normal, after recent rains caused plenty of headaches
ABOUT THE LIST - Environmental consulting companies posted a slim gain in billings after a few years of flat results
Costa Mesa-based Valeant Pharmaceuticals International boosted its research spending in the fourth quarter as it looks to offset lower sales of a former key drug, the company said last week.
Improving demand for computer products in North America and Europe helped Santa Ana-based Ingram Micro Inc. post sales and profit gains in the fourth quarter, the company said Thursday.
Irvine-based Cardiac Science Inc. and Quinton Cardiology Systems Inc. of Bothell, Wash., on Monday agreed to combine under the Cardiac Science name.
The county ranks high on brokerage Marcus & Millichap's national retail index, in the Real Estate column
M80 hopes to hit the advertising market with a bang, in the Media & Marketing column
Friday, February 25
The San Diego Union-Tribune has collaborated with four Southern California newspapers and one Nevada newspaper to launch a region-wide preprint distribution program.
Henry and Susan Samueli finally pulled the trigger and bought the Mighty Ducks of Anaheim from Walt Disney Co. on Friday.
The hockey season might be a goner, but speculation about the sale of the Mighty Ducks of Anaheim is heating up.
Sales of existing single-family homes and condominiums were nearly unchanged in January from December, the National Association of Realtors said Friday.
Oil held near $51 a barrel on Friday despite fresh warnings from big consuming nations that economic growth may suffer from a renewed rise in fuel costs.
Irvine chipmaker Broadcom Corp. said Thursday it OK'd a plan to buy as much as $250 million of the company's common stock in the next year. The plan is a first for the chipmaker.
U.S. auto sales followed a familiar pattern in February with General Motors Corp. and Ford Motor Co., both seemingly stuck in reverse, losing more market share to fast-growing foreign rivals, analysts said on Friday.
A survey of Coldwell Banker affiliates found that the number of houses that sold for at least seven figures increased 47% in 2004.
U.S. economic momentum at the end of 2004 was significantly stronger than previously thought, according to a government report on Friday revising up fourth-quarter output to reflect stronger exports and investment.
Thursday, February 24
Santa Ana-based title insurer First American Corp. said Thursday that it bought privately held United General Financial Services Inc. for an undisclosed price.
Oil extended gains over $51 a barrel on Thursday as concern that OPEC was becoming comfortable with prices near $50 countered swelling stockpiles in the U.S.
New orders for long-lasting U.S. made goods slipped in January and initial claims for jobless benefits rose last week, but rising business demand for capital goods showed the economy still on solid ground.
Costa Mesa-based Valeant Pharmaceuticals International boosted its research spending in the fourth quarter as it looks to offset lower sales of a former key drug, the company said Thursday.
Former Enron Corp. bosses Ken Lay and Jeff Skilling will go on trial in January 2006 for their part in the huge financial scandal that brought the energy trading giant to its knees, a federal judge said on Thursday.
Treasuries were mostly firmer on Thursday as investors renewed bets on longer-term debt ahead of a $24 billion two-year note auction later in the session.
Wednesday, February 23
Oil prices gave back a small portion of rapid recent gains on Wednesday as producer-group OPEC sought to assure traders it would not let prices rise too high.
Dental laser maker BioLase Technology Inc. is getting into the eye care business. The San Clemente-based company said Wednesday it plans to license ophthalmology-related patents.
U.S. stocks rose on Wednesday after a tame January consumer price index eased worries about inflation and investors bought shares beaten down on the broad sell-off in the previous session.
Vincent "Vinny" Smith, the longtime chief executive of Irvine-based Quest Software Inc., promoted company insider Douglas Garn to president.
Edwards Lifesciences Corp.'s growth ambitions go beyond a new type of heart valve the company is pursuing.
Homebuilder stocks got a lift on news that a key inflation index was in line with expectations.
Gov. Arnold Schwarzenegger's job approval rating remains high, but his support has slipped from the lofty levels during his first year in office, according to a poll released on Wednesday.
Tuesday, February 22
Rainy skies or not, Roth Capital Partners LLC opened its annual investment conference Tuesday at the St. Regis Monarch Beach Resort & Spa in Dana Point Tuesday.
Irvine-based Commercial Capital Bancorp said Tuesday that it wrapped up its $29 million buy of Timcor Exchange Corp.
Oil prices surged nearly 6% to a 16-week high above $51 a barrel on Tuesday as a late bout of cold winter weather kept heating fuel demand up in the U.S. and Europe.
Frank Jao, a driving force behind Orange County's Little Saigon, has been elected chairman of a national group that seeks to build ties with Vietnam via education.
Anaheim-based Pacific Sunwear of California Inc. has tapped a veteran of Limited Brands Inc. to head its fast-growing chain of urban-style clothing stores.
Santa Ana-based First American Corp. has agreed to refund about $24 million to consumers nationwide after state insurance investigators claimed it gave kickbacks to homebuilders, lenders and real estate agents.
Monday, February 21
Transportation, terrorism and Proposition 13 are key issues for real estate insider Tim Strader, in the Real Estate column
California Governor Arnold Schwarzenegger will be taking his California sales act on the road again in April with a trip to China, his office said Friday.
The heirs to the Western Dental chain are contesting an IRS bill
The city of Anaheim goes deep on its bid to overturn the Angels' name change; PLUS: Corporate Lawyer Crane Takes Over Rutan
San Clemente-based Sunstone Hotel Investors Inc. on Monday reported financial results for the first time since undertaking Orange County's largest public stock offering of 2004.
PacifiCare is pushing Medicare expansion in California and Colorado, in the Healthcare column
Chinese chipmakers have settled a patent dispute that involved Broadcom, in the Technology column
Integrated Microelectronics Inc., a contract electronics maker based in the Philippines, has bought the Tustin plant of Auburn Hills, Mich.-based Saturn Electronics and Engineering Inc.
Y & R;'s Irvine unit has lost a couple of big ad accounts in the past few weeks
Ciao, Mama Rose, in the Executive Dining column by Fifi Chao
A look at the shift in OC's housing landscape
Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance
It was another big Super Bowl weekend for the big-screen TV king, in the Marketplace column
A take on the spike in apartment rents and values
Australian surfwear maker Billabong International Ltd. said on Monday its first-half net profit rose 73%, driven by strong sales in Australia and the Americas.
Another Toshiba company has its U.S. headquarters, albeit a small one, in Irvine.
Mendoza's loss is al Punto's gain with the Kia campaign, in the Media & Marketing column
Cities' different approaches to the housing crunch
Stocks could show some weakness this week as earnings season winds down, while inflation and interest-rate worries stoke investors' concerns about future profits.
ABOUT THE LIST - rundown of homebuilders' sales in the past year
Real Estate Watch: Low-Rise Office Space; PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Hundreds of California restaurant chains settled a suit with the attorney general over fish warnings
Interchange has defied the expectations of skeptics who lived through the dot-com bust
Smiths Group's $110 million buy of Santa Ana-based Integrated Aerospace has paid off
Pop Artist Shag Hits Nation's Heartland; Ins, Outs of Inouye
Friday, February 18
Sharp gains in the cost of cigarettes and autos helped push core U.S. producer prices up at their fastest rate in six years in January, while overall prices also edged higher, the Labor Department said on Friday.
President Bush on Friday signed into law legislation to curb class-action lawsuits, the first major legislative victory of his second term and part of his broader agenda to overhaul the legal system.
Former Boeing Co. Chief Financial Officer Michael Sears was sentenced on Friday to four months in prison and a $250,000 fine for his part in illegally recruiting a top Air Force official to the company.
Longtime medical investor's private equity fund has closed to new investors and is ready to invest.
Irvine subprime lender New Century Financial Corp. has formalized plans for a big lease at the Park Place office complex near John Wayne Airport.
Treasury debt prices sank on Friday after a startling jump in core producer prices questioned the market's complacency on inflation and threatened to make the Federal Reserve more aggressive on interest rates.
Irvine-based Allergan Inc.'s Botox was the most popular cosmetic procedure again in 2004, marking the third straight year on top for the wrinkle-reducing drug.
Aliso Viejo's Smith Micro Software Inc. on Friday completed a private sale of $22.4 million worth of its shares to fund an expansion and possible acquisitions.
Thursday, February 17
Officials from Mitsubishi Motors Corp. and its struggling U.S. unit in Cypress spent Friday refuting a Wall Street Journal story about a possible sale.
Slumping Mitsubishi Motors North America Inc. has named Hideyasu Tagaya to head the Cypress-based unit.
Boston-based medical marketing shop LehmanMillet Inc. has bought Newport Beach-based Blvdwest, now known as LehmanMillet West.
Douglas Tuggle, dean of the business school at Chapman University in Orange since 2002, is stepping down, citing his wife's health issues.
Strong sales to makers of TVs and other electronics helped Cypress-based Universal Electronics Inc. post big revenue growth in the fourth quarter, the company said Thursday.
Japan's economy shrank for a third straight quarter in the last three months of 2004.
The evolution of Irvine-based St. John Knits International Inc. continues under Chief Executive Richard Cohen.
Mexico's economy expanded last year at its fastest pace since late 2000.
Wednesday, February 16
The Navy's online auction of the former El Toro Marine base is over. Lennar is the winner with a total bid of $650 million on four parcels set for residential, retail and office development.
Santa Ana-based title insurer First American Corp. beat Wall Street expectations with its fourth-quarter profits but spooked some investors with cautious words about this year.
Federal Reserve Chairman Alan Greenspan said on Wednesday the economy entered 2005 in good shape but warned fiscal discipline was essential to meet future challenges.
Stocks finished almost flat on Wednesday, with the S & P; 500 inching up to a fresh 2005 high on a day when energy companies' shares rose after crude shot above $48 a barrel, while financial stocks fell after the Fed chairman said interest rates are still lo
Industrial production was flat in January as warm weather dampened demand for heating, but manufacturing output remained healthy, a government report showed on Wednesday.
Oil prices surged more than 2% on Wednesday amid worries a possible OPEC output cut this spring could quickly sap swelling crude and gasoline stockpiles in the U.S.
It's over before it began. National Hockey League Commissioner Gary Bettman cancelled the season Wednesday after the union representing the players and the NHL couldn't reach a new labor deal.
Hewlett-Packard Co. on Wednesday posted a quarterly profit that rose slightly, helped by gains across all of its businesses, and its shares rose 2.5% in after-hours trade.
Santa Ana-based Advanced Medical Optics Inc. said Wednesday it sees its buy of Santa Clara-based Visx Inc. concluding in the second quarter instead of the current one.
A jump in starts on single-family housing pushed housing starts to a nearly 21-year high in January, but home mortgage applications dipped last week, according to data reported on Wednesday.
A slowdown in mortgage applications hurt First American Corp.'s bottom line in the fourth quarter, the company said Wednesday.
A day after the Anaheim City Council voted to go ahead with its lawsuit against the Angels, Arte Moreno was doing what he does best.
Tuesday, February 15
The Navy's online auction for El Toro is getting a little like eBay, with the sale dragging on for days and bids coming in at the last minute.
Smiths Group PLC's $110 million acquisition last year of Santa Ana-based Integrated Aerospace Inc. already has paid off.
U.S. stocks rose on Tuesday, pushing the Dow and S & P; 500 to fresh 2005 highs, as retail shares got a boost from better-than-expected January retail sales, while an unsolicited bid for Circuit City Stores Inc. raised hopes for more M & A; activity to come.
The parent of Irvine-based subprime mortgage lender Encore Credit Corp. made its Wall Street debut Tuesday, raising nearly $400 million.
Major League Baseball's Internet unit said Tuesday it plans to buy Costa Mesa-based Tickets.com Inc. for about $66 million.
Monday, February 14
Competition and the yield curve are taking a toll on New Century's profit growth, in the Real Estate column
Linksys isn't the lone wireless unit under Cisco's banner anymore, in the Technology column
Mission 261 is a San Gabriel treat, in the Executive Dining column
A Printronix Inc. printer for radio frequency identification tags is being used by Hewlett-Packard Co. and Sun Microsystems Inc., the Irvine company said on Monday.
Proposition 64 retroactivity looks like it could go to the state Supreme Court
U.S. blue-chip stocks finished slightly lower on Monday, pulled down by a drop in the shares of American International Group Inc. as a regulatory probe widened.
Gigante continues to open supermarkets, just not in its OC base
A look at how big and small banks are vying for small business accounts
Memorial wrapped up its acquisition of San Clemente Hospital, in the Healthcare column
Y & R; was eliminated from Jaguar's advertising review, in the Media & Marketing column
A peek into Union Bank's foreign currency trading desk
PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Nokia and Microsoft struck a deal on Monday to make it easier for consumers to buy digital music on-line and play it back on their handsets.
Cox Communications has opened its first store,at Quail Hill Village Center in Irvine, in the Marketplace column
New Century Financial Corp. on Monday boosted its dividend outlook for 2005 by 5%.
Irvine's Commercial Capital Bancorp said it plans to buy Timcor Exchange for $29.4 million in stock.
A medical, retail and residential development is planned near St. Jude Medical in Fullerton
Allergan has distanced its Botox drug from a criminal case in Florida
In an early test of strength over President Bush's immigration reform agenda, some conservatives and seniors organizations are campaigning to block implementation of a U.S.-Mexico pact on Social Security.
Germany's Henkel has consolidated its U.S. hair products business in Irvine
Verizon Communications Inc. on Monday said it would buy long-distance telephone company MCI Communications Inc. in a deal worth $6.75 billion, giving Verizon entry into the market serving large corporations.
Developers are tallying the costs of the winter's unusually wet weather
It was another banner year of growth for most commercial banks in Orange County in 2004,but will it continue? Interviews with bank executives
Local thrifts had a good year of deposit growth.
Analyses of deposit growth at commercial banks and thrifts
Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance
The expanding currency-trading business of local banks has had more to do with customer service than speculation.
Op and Warnaco might not be hip, but they're survivors
Friday, February 11
Montage Resort & Spa officials sought to defuse a controversy Friday about possible plans for an expanded golf course at the Aliso Creek Inn acquired last year.
Longtime Orange County technology executive Bruce Edwards has stepped back as head of Santa Ana's Powerwave Technologies Inc., a maker of amplifiers for wireless phone networks.
Frank Perna retired Friday as chairman and chief executive of industrial design software maker MSC.Software Corp.
Dell Inc. shares fell as much as 4% Friday morning after the personal computer maker reported fourth-quarter results shy of Wall Street estimates and said its first-quarter sales might also fall short, too.
Oil prices held firm near $47 a barrel on Friday, bolstered by a tightening outlook for market fundamentals and sliding U.S. temperatures.
Thursday, February 10
Newport Beach-based Acacia Research Corp. said it expects to close a $19.6 million stock sale Thursday.
Oil prices jumped more than a dollar on Thursday after the International Energy Agency warned that faster-than-expected demand and disappointing world production growth could put world supplies under strain.
The median sales price for an Orange County home was $534,000 in January, down 3% from December's record of $551,000 but still up nearly 20% from a year earlier.
Driven by soaring sales of 1.8 inch and smaller devices for consumer electronics, the disk drive industry could see unit shipments rise 24% from 305 million in 2004 to 378 million in 2005, according to market research firm Trendfocus.
Dell Inc., the largest personal computer maker, on Thursday posted sales just shy of Wall Street expectations as profit excluding a tax-related charge topped analysts' forecasts.
Verizon Communications has floated an informal acquisition offer in cash and stock for MCI Inc., the Wall Street Journal reported on Thursday.
The number of Americans claiming initial jobless benefits fell unexpectedly last week to 303,000, the lowest level in more than four years, a government report showed on Thursday.
The December trade deficit narrowed as oil import prices had their biggest monthly decline in nearly 14 years. But the annual trade gap still widened more than 24% in 2004 to a record $617.7 billion.
Orange County's subprime mortgage lending industry may be breathing a tentative sigh of relief.
IntraLase Corp., an Irvine company that makes lasers used in eye surgery, said Thursday that higher-than-expected costs widened its loss in the fourth quarter.
Irvine-based Lantronix Inc. on Thursday posted a bigger operating loss than a year earlier despite a bump in sales.
Wednesday, February 9
Santa Ana-based MSC.Software Corp. said Tuesday that its shares will be delisted from the New York Stock Exchange because of an ongoing review of its past financial accounting procedures.
Irvine-based Allergan Inc. was dealt a minor disappointment Wednesday when regulators rejected another drug maker's application for a chronic dry eye disease treatment.
Shares of Santa Ana-based for-profit college operator Corinthian Colleges Inc. fell 5% on Wednesday after a report on a new lawsuit filed by students alleging that one of its schools misrepresented prospects for graduates, analysts told Reuters.
Bidding closed Wednesday on two parcels of the former El Toro Marine base, with the Navy getting its minimum asking price of $185 million. The auction is set to continue tomorrow on the remaining two parcels of the base up for bid.
Laguna Hills-based Interchange Corp. said Wednesday it plans to buy Sweden's Inspire Infrastructure 2i AB for up to $22.5 million in a cash and stock deal.
Santa Ana-based Powerwave Technologies Inc. said Wednesday it bought Kaval Wireless Technologies Inc. for $10.8 million in cash and debt.
U.S. regulators charged five former employees of a Bank of America Corp. utual fund unit for trading abuses on Wednesday and finalized a $515 million settlement with the bank on related charges.
Citing the weak financial state of California's hospitals, Sen. Jackie Speier introduced legislation on Wednesday that would push back the date by which hospitals have to meet new seismic safety standards.
Applications for home mortgages increased last week as U.S. consumers took advantage of a sharp drop in interest rates to refinance their existing loans, an industry group said on Wednesday.
Tuesday, February 8
Anaheim circuit board maker DDi Corp. said Wednesday it plans to shut its European operation after failing to land a credit pact to its liking.
Roy Disney and Stanley Gold, the former Walt Disney Co. directors who sparked a shareholder revolt, said on Tuesday they would withhold their votes on the board of directors at the company's annual meeting.
It looks like Arte Moreno's Los Angeles Angels of Anaheim will have to wait a year to significantly boost its broadcasting lineup. The team is close to finalizing its TV lineup for the 2005 season.
Embattled Japanese automaker Mitsubishi Motors Corp. said on Tuesday its net loss for the nine months to Dec. 31 more than doubled from a year earlier, hit by a sales plunge in the United States and at home.
Anaheim-based New Horizons Worldwide Inc. said Tuesday that private equity investor Camden Partners Holdings LLC has bought a 13% stake in the company.
It was good news, bad news for investors in Advanced Medical Optics on Tuesday. The company's earnings guidance for 2005 fell short of Wall Street expectations, but beat 2006's forecast.
Fullerton's Beckman Coulter Inc., a maker of medical testing gear for labs and researchers, named Betty Woods, an 11-year veteran of the company's board, as non-executive chairman on Tuesday.
Shares of Quality Systems Inc., an Irvine-based healthcare software company, rose 7% Tuesday after the company beat Wall Street expectations with its profits for the quarter ended Dec. 31.
Santa Ana circuit board maker TTM Technologies Inc. took a beating in after-hours trading Tuesday after reporting a sequential drop in fourth-quarter sales and slimmer profits.
The U.S. economy is growing well, inflation is well contained and the Federal Reserve will raise interest rates at a measured pace to keep a lid on price pressures, Federal Reserve Governor Susan Bies said.
Cisco Systems Inc., the largest maker of communications gear to direct traffic over the Internet, on Tuesday said quarterly earnings rose, benefiting from higher sales in advanced technologies and the impact of a year-earlier accounting change.
Monday, February 7
A Navy spokesman says the military's Seal Beach operation is critical, in the Real Estate column
Mitsubishi's ad review has narrowed to four, in the Media & Marketing column by Sherri Cruz
Irvine drug maker Allergan Inc. on Monday posted a fourth-quarter profit versus a loss a year earlier but warned net income for 2005 could come in below what analysts were expecting.
Valeant gets a boost for its neurological drug pipeline with the pending acquisition of Xcel
Foreign appetite for Russian assets has picked up strongly after a slow start to the year, with investors expected to lap up the upcoming landmark $1.5 billion share offering in conglomerate AFK Sistema, Reuters reported.
Despite extensive debate about stem cells and their use, there has been considerable confusion about what they are exactly, and what they do.
Office construction remained slow in the fourth quarter; PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Fashion Island is cashing in on "The O.C.," in the Marketplace column by Sherri Cruz
Cogent Healthcare is looking for a permanent chief executive, in the Healthcare column by Vita Reed
The promise of voice over Internet protocol has put a spark in a moribund rivalry
Analysis: the County's biggest hospitals by net patient revenue
Fluor could go after some big government contracts in Afghanistan
Running a hospital today causes its share of headaches,just ask the following executives - interviews with top hospital administrators
President Bush on Monday proposed a $2.5 trillion budget that slashes domestic programs from farm aid to housing grants for the poor, as he sought to curb budget deficits that have soared on his watch.
Red Mountain buys and sells on the quiet
Season ticket holders haven't closed their pocketbooks on the Angels
Fries, beer and all the Belgian classics, in the Executive Dining column by Fifi Chao
St. John Knits wants to play with the big fashion houses
Telemarketers Try Junk Mail; Park Foe Turns Friend. By Rick Reiff
Friday, February 4
A confluence of market pressure and fiscal restraint may dampen the U.S. current-account deficit in the coming months, Federal Reserve chief Alan Greenspan said.
U.S. employers added just 146,000 jobs in January, the government said on Friday in an unexpectedly weak report on the labor market, but a drop in job-seekers pushed the unemployment rate to its lowest level in more than three years.
Homebuilders Standard Pacific Corp. and William Lyon Homes Inc. saw their shares surge early Friday, fueled in part by strong Standard earnings earlier in the week and continued optimism about the housing market.
Foothill Ranch-based The Wet Seal Inc. said it was hit Friday with a suit that consolidates other class action complaints against the company. Charges are directed against the company, some former directors and current and former executives of the teen ap
U.S. consumer sentiment finished weaker in January, as respondents to a poll published on Friday grew less certain about their financial outlook, Reuters reported.
The Southern California Association of Governments issued a scathing report Friday claiming the six-county region has lost significant ground in the past decade on employment and income growth, traffic congestion, education levels and housing affordabilit
Irvine-based US Pathology Labs officially became part of Laboratory Corporation of America Holdings on Friday.
Thursday, February 3
PacSun and,surprise,Wet Seal both reported a jump in same-store sales in January.
Business productivity rose at just a 0.8% annual rate in the fourth quarter, the smallest advance in nearly four years.
Aliso Viejo-based US Technology Resources LLC has acquired Costa Mesa's eBuilt Inc., a developer of e-commerce and other software for businesses.
Irvine-based Wispry Inc. raised $6 million in a first round of venture financing.
Shares of Standard Pacific Corp. soared Thursday after the Irvine homebuilder reported blockbuster earnings results for the fourth quarter and raised its outlook for 2005.
Companies around the world continued to report a brisk expansion of activity as 2005 kicked off, surveys showed, with firms in Europe and Japan staging some catch-up on those in a cooler U.S.
Proposition 64's limitations on private enforcement of unfair competition laws do not apply to lawsuits filed before its effective date of Nov. 3 of this year, the First District Court of Appeal ruled yesterday.
U.S. Treasury debt prices eased on Thursday as investors worried a looming report on the labor market could show a renewed burst of hiring.
Qwest Communications International Inc. offered to buy long-distance provider MCI Inc. for more than $6 billion, according to sources.
Wednesday, February 2
Costa Mesa drug maker Valeant Pharmaceuticals International said Wednesday it is spending $324 million to buy Xcel Pharmaceuticals Inc., a privately held maker of neurology drugs.
Aliso Viejo-based Fluor Corp. reported a big gain in pending work, buoyed by contracts the engineering services company has won in Iraq and elsewhere.
Gateway Inc. founder and Chairman Ted Waitt said Wednesday he plans to sell about $97 million worth of shares in the Irvine-based computer maker.
Irvine-based Commercial Capital Bancorp said Wednesday it plans to buy back up to 2.5% of its shares.
If forecasts can be believed, job growth in January will finally return U.S. employment to where it was before the 2001 recession and erase the jobs lost during President Bush's first term.
Camarillo-based First California Bank said it plans to buy Irvine's South Coast Bancorp for about $36 million.
The Federal Reserve on Wednesday raised interest rates for a sixth straight time, extending a policy of gradually lifting borrowing costs to levels high enough to ward off inflation pressures.
Tuesday, February 1
Foothill Ranch-based The Wet Seal Inc. is counting on three new board members to lead its turnaround bid.
Federal Reserve policy-makers are likely to keep bumping up short-term interest rates this year, a defense against an inflation flare-up now that the economic expansion is on firm footing, the Associated Press reported Tuesday.
Oil prices slipped on Tuesday, but remained supported near $48 on worries that OPEC producers may cut supplies before the end of the first quarter. The Organization of the Petroleum Exporting Countries kept official production limits steady at 27 million
Irvine's Micro Therapeutics got a boost from a recent medical device acquisition in Orange County. The company received $3.7 million for its share of C.R. Bard's $60 million buy of Genyx Medical in Aliso Viejo.
The law firm leased 57,000 square feet in Plaza Tower, a high-profile office building in Costa Mesa. Snell is set to move from Irvine in summer.
U.S. factory output grew more slowly in January as companies received fewer orders, although managers did show a renewed desire to hire new workers, an industry survey showed on Tuesday.
Results were varied for several local automakers in January. American Suzuki and Hyundai Motor America posted solid growth in auto sales while Mazda North American and Mitsubishi Motors North America reported a decline in sales.
SBC Communications Inc. said Tuesday it expects to eliminate about 13,000 jobs after its $16 billion acquisition of AT & T; Corp. closes, but the telephone company emphasized that many of those positions can be cut through attrition rather than layoffs.