Stories for October 2005
Monday, October 31
Local chipmakers kept employment steady in the past year
Tri-Village in Irvine conjures memories of home cooking for Asian diners, in the Executive Dining column
Democratic leaders and their union allies are in a furious effort to get voters to the polls for the special election
Teens continue to drive results at Wet Seal and Pacific Sunwear, in the Media & Marketing column
Santa Ana-based Corinthian Colleges Inc. has agreed to license its name and class materials for automotive training schools in China, Taiwan and Hong Kong, the company said Monday.
Short sellers have raised their bets against homebuilders, in the Real Estate column
Office, Industrial Vacancy Declines; Rates Rise. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
A Canadian investor is paying $600 million for Skilled Healthcare, in the Healthcare column
Device maker Micro Therapeutics is caught up in a shareholder lawsuit over its proposed sale
Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance
Boeing's executive overseeing its Orange County operations is a former pro bowler
Investors don't like the sale of QLogic's disk drive controller business, in the Technology column
Barrick Gold Corp. bid $9.2 billion for rival Placer Dome Inc. on Monday, a deal that would create one of the world's biggest gold miners with annual output of 8.3 or 8.4 million ounces.
Tighter Visa Process Hits International Enrollment at U.S. Colleges
Chiron Corp. said Monday its board of directors accepted a sweetened $5.1 billion takeover offer from the Swiss drug giant Novartis AG, which vowed to "turn around" the beleaguered flu-shot maker.
Italy's Salvi Harps has moved its only U.S. store and distributorship from Chicago to Anaheim, in the Marketplace column
Three cities are looking to jump on Anaheim's Platinum Triangle coattails
Consumer spending rose moderately last month as Americans dug deep to fill gas tanks, while hurricane insurance payments led to the biggest jump in income in 10 months, a government report showed on Monday.
Atherton-Newport grows on its strategy of buying apartment buildings and land
Watson Pharmaceuticals is closing a Puerto Rico plant and moving hundreds of jobs to its headquarters in Corona and to another plant in New York
The Federal Reserve is poised to raise official interest rates again on Tuesday in its ongoing campaign to head off inflation pressures, bringing the number of rate increases so far to an even dozen.
Foothill Ranch-based Kaiser Aluminum Corp. is spending $75 million to expand its mill in Trentwood, Wash., the company said Monday.
Dell Inc., the world's biggest personal computer maker, warned quarterly results would fall below expectations due to what it said were weaker U.S. consumer and U.K. personal computer sales.
Rise of China and India Has Colleges Tweaking Programs
AOL founder Steve Case on Monday said he has resigned from the board of Time Warner Inc., ending a storied chapter in the history of the world's largest media company.
DIRECT DEPOSIT - Sunstone has tapped a recent federal law that allows checks to be scanned and deposited via the Internet into its Wells Fargo account
Nationwide Health Properties Inc. on Monday said that its third-quarter profit slid 42% because of debt-related losses and other charges.
Friday, October 28
Three cities want to make it easier to replace commercial buildings with housing in key spots, inspired by the thousands of homes approved for Anaheim's Platinum Triangle earlier this week.
Lower enrollment and the effects of hurricane Katrina hit Corinthian Colleges Inc. in the past quarter, the company said on Friday.
Irvine-based Broadcom Corp. was one of six companies that filed an antitrust suit in Europe against San Diego-based Qualcomm Inc., the company said Friday.
The U.S. economy shook off headwinds from hurricanes Katrina and Rita to grow at a faster-than-expected 3.8% annual rate in the third quarter, a Commerce Department report showed on Friday.
Consumer sentiment dropped in October, falling short of economists' expectations for only a slight decline, a report showed on Friday.
No. 2 U.S. oil company Chevron Corp. on Friday posted a 12% rise in quarterly profit on the back of record crude oil prices, but damage and production outages from recent hurricanes dragged results below Wall Street forecasts.
Thursday, October 27
Lake Forest-based disk drive maker Western Digital Corp. saw profits more than double for the recently ended quarter, while Costa Mesa networking gear maker Emulex Corp. posted 15% higher net income.
Exxon Mobil Corp. on Thursday posted a quarterly profit of $9.9 billion, its biggest ever and one of the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices.
Job losses from hurricanes Katrina and Rita have passed the half-million mark with further increases still to come from Wilma as the Gulf Coast hurricanes continue to batter the economy.
Military demand for bulletproof ceramics drove higher third-quarter sales and profits at Costa Mesa-based Ceradyne Inc., but the company's shares slumped Thursday after an analyst downgraded the stock.
Newport Beach chipmaker Conexant Systems Inc. returned to profitability in the recently ended quarter, while Irvine's Gateway Inc. logged its second straight quarter back in the black.
Micro Therapeutics Inc. on Thursday said its third-quarter net loss narrowed from a year ago.
PacifiCare Health Systems Inc., boosted by membership growth and less money paid to doctors for treating enrollees, said Thursday its third-quarter profit was up 34% from a year ago, handily beating Wall Street's predictions.
A group of institutional investors that lost money in the collapse of telecommunications company WorldCom Inc. said on Thursday they had reached a settlement worth more than $651 million with numerous investment banks and other defendants.
Santa Ana-based Ingram Micro Inc. topped estimates for sales in the third quarter.
Microsoft Corp. said Thursday that earnings for its first quarter rose 24%, helped by strong growth in the personal computer and server market.
New orders for U.S.-made durable goods sank an unexpectedly deep 2.1% last month as aircraft orders plunged, but even non-transportation orders dropped 1%, a government report showed on Thursday.
SBC Communications Inc., nearing the completion of its AT & T; Corp. acquisition, on Thursday said it will adopt the AT & T; name, unveil a new logo and stock market symbol when the transaction is completed late this year.
Wednesday, October 26
An internal memo sent to the Wal-Mart Stores Inc. board proposes numerous ways to hold down health care and benefits costs with less harm to the retailer's reputation, including hiring more part-time workers and discouraging unhealthy people from seeking
Bausch & Lomb on Wednesday disclosed an investigation into allegations of improper conduct by management at its Brazilian subsidiary and related charges that will result in sharply lower quarterly earnings.
Santa Ana-based First American Corp. reported higher third-quarter revenue and profits Wednesday as mortgages continue to drive the title insurer.
Irvine-based Epicor Software Corp. raised revenue expectations for the year and met earnings guidance during the third quarter, according to its financial report released Wednesday.
A group of institutional investors is set to soon announce a securities litigation settlement stemming from their losses in collapsed telecommunications company WorldCom Inc., a person familiar with the negotiations said on Wednesday.
Boeing Co.'s quarterly results missed Wall Street forecasts, sending shares of the top aerospace group and Dow component lower in premarket trade on Wednesday.
ConocoPhillips, the nation's third-largest integrated oil and gas company, said third-quarter profit surged 89%, reflecting high prices for crude oil and natural gas after one of the worst hurricane seasons in memory slammed the heart of the nation's oil
Shares of Volcom Inc. shot up more than 12% in afterhours trading on Wednesday after the Costa Mesa surfwear designer reported a big gain in third-quarter sales and operating profit and upped its outlook.
WellPoint Inc. on Wednesday said earnings for the third quarter more than doubled as the company continued to reap the benefits of last year's merger that created the nation's largest health insurer.
Tuesday, October 25
Online retailer Amazon.com Inc. on Tuesday said that quarterly net profit fell, as a legal settlement hurt results.
Lake Forest-based Apria Healthcare Group Inc. said Tuesday it's no longer seeking a buyer and instead plans to focus on reversing a slump in profits.
Costa Mesa-based FileNet Corp. beat profit expectations in the third quarter but fell slightly short on revenue, the software maker said Tuesday.
Inflation pressures are likely to remain confined to the energy sector, and fiscal and monetary policy is accommodative, Federal Reserve chairman nominee Ben Bernanke said in a newspaper interview published on Tuesday.
Consumer confidence fell in October, sagging under the weight of hurricanes, high gasoline prices and uncertainty over jobs, although the dip in sentiment did not stop Americans from buying houses last month, data showed on Tuesday.
Costa Mesa-based Volcom Inc. has the momentum. But will worries about consumer spending show up in the company's third-quarter results and bring slower growth down the road?
DaimlerChrysler AG on Tuesday reported a 21% drop in net profit for the third quarter compared to the same period a year ago, when the U.S.-German automaker's earnings were boosted by tax-free income from the sale of a stake in Hyundai Motor Co.
Newport Beach-based healthcare software maker TriZetto Group Inc. beat expectations with its third-quarter results and upped its outlook for the rest of the year.
Lockheed Martin Corp. said on Tuesday third-quarter profit rose a better-than-expected 39% as the No. 1 U.S. defense contractor boosted sales of electronic systems, government satellites and deliveries of its C-130J transport planes.
Oil steadied near $60 a barrel on Tuesday as investors sought new proof of slower fuel use in the U.S. after Hurricane Wilma bypassed oil and gas fields in the Gulf of Mexico.
IntraLase Corp.'s shares spiked Tuesday after the Irvine-based eye laser maker posted third-quarter earnings results that beat Wall Street expectations.
Mindspeed Technologies Inc.'s shares climbed more than 4% in afterhours trading after the Newport Beach chipmaker edged analysts' estimates during the quarter ended Sep. 30.
Edwards Lifesciences Corp. beat expectations for third-quarter operating profit but posted a net loss with one-time charges.
Foreclosures on homes rose 22% in Orange County in September versus August, according to RealtyTrac in Irvine.
Monday, October 24
The housing boom has been good to Newport Beach-based Impac Mortgage Holdings Inc. The company's dramatic run could be headed for a slowdown.
The Inland Empire saw industrial lease rates rise in the third quarter, while office rents held steady. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Nursing home investor Nationwide Properties dropped $171 million on some facilities in New York and Massachusetts
BioLase Technology Inc. has stumbled a couple of times this year despite a surge in sales that has played out during the past three years
First American's diversification play needs more time to impress Wall Street
The Santa Ana-based operator of for-profit colleges has run into some roadblocks this past year with lower enrollment, regulatory inquires and some operations challenges.
Trend-setting Jack's Surfboards is opening its sixth store, in the Media & Marketing column,
Anaheim is considering a proposal from Earthlink to blanket the city with high-speed wireless Internet service
Road Rage: Mailer Pummels Tunnel; Celebs Visit UCI
OC has seen some of its largest-ever private company buyouts this year
Costa Mesa-based Pacific Mercantile Bancorp has posted strong growth since opening more than six years ago. The past three years have been good, too.
Standard Pacific's strategy of diversifying to other states is being put to the test,
Ista Pharmaceuticals Inc. has bragging rights as Orange County's fastest-growing public company by revenue.
The tax incentive package that would keep Nissan Motor Co.'s regional headquarters and its 1,300 jobs in the Southland was the latest proposal aimed at retaining key businesses and industries.
President Bush has nominated Ben Bernanke, his top economic adviser and a leading member of the Federal Reserve fraternity, to succeed Federal Reserve Chairman Alan Greenspan.
An interview with Fabian Nu & #324;ez
Irvine's California Coastal Communities Inc., one of the county's smaller homebuilders, has ridden the housing cycle with the best of them
Spain's Banco Santander Central Hispano SA on Monday said it will pay $2.4 billion for a 20% stake in Philadelphia-based Sovereign Bancorp Inc., which plans to use the proceeds to expand in New York City.
Some companies are accelerating stock-option vesting for underwater shares with a new accounting rule on the way
Technology companies made a comeback this year, accounting for 16 of the top 50 fastest-growing in the sector, compared to 11 last year
The state Supreme Court is set to decide who is liable for accidents involving contractors
ICU Medical Inc. reported sales and profits that beat Wall Street estimates last week
Local nonprofits saw revenue rise in the past year
A small manufacturing company that helps customers make products quickly has seen sales take off in the past few years..
Irvine-based medical device maker, which launched its Onyx system for treating blood vessel disorders in the brain this summer, just received a buyout offer from its majority shareholder.
Sybron Dental's shares are surging as the company celebrates its fifth birthday
Behind all the takeover drama and stock gyrations is a story of heady growth at Newport Beach's William Lyon Homes Inc.
The online auto marketing company hired a new slate of executives and pushed through a major accounting restatement that hit earnings.
Merck & Co. said Monday its third-quarter profit rose 7% as lower costs offset a revenue dip stemming from the loss of sales from Vioxx, the pain reliever the company withdrew last year.
They didn't break out the champagne at some small public companies when the Securities and Exchange Commission OK'd a one-year extension on the deadline to comply with a set of Sarbanes-Oxley Act rules.
Irvine's New Century Financial Corp. has been a hot company in a hot industry, subprime lending
An Allergan scientist has a good sense of humor, in the Healthcare column
Road testing a Lamborghini, in the Marketplace column
Skilled Healthcare Group Inc., a Foothill Ranch-based nursing home operator, said Monday that it's being bought for $630 million by Onex Corp., a Toronto-based buyout company.
The parent of alternative weekly newspaper OC Weekly is being acquired by Phoenix-based New Times Media.
Johnson Controls Inc. on Monday said quarterly earnings rose 4% with growth in building heating and cooling systems and batteries helping to offset operating declines in automotive interiors.
Costa Mesa-based Anna's Linens, a bed and bath retailer targeting ethnic shoppers in urban areas, is said to be in talks to buy 26 stores from Ostrow Holdings Inc.
Advanced Medical Optics Inc. has transformed itself in the past three years from a unit of Irvine-based drug maker Allergan Inc. to a major player in the eye device market.
Assembly leader Fabian Nu & #324;ez has stood up to Gov. Arnold Schwarzenegger
Its ceramic body armor is one of the must-haves for the military, and Ceradyne's biggest challenge has been trying to keep up with demand.
Southern Africa meets Portugal at exotic Mozambique in Laguna Beach, in the Executive Dining column
Kevin Hayes takes over at Cresa, in the Real Estate column
President George W. Bush was expected to announce on Monday that he has picked top economic adviser Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan, a knowledgeable source said.
Will Volcom's third-quarter sales keep pace with the buzz
A look at people, companies and institutions receiving awards, accolades, grants and other honors
OC Public Companies With Biggest Five-Year Revenue Growth
Friday, October 21
New Century Financial Corp. announced Friday the opening of a 100,000-square-foot mortgage servicing center in Santa Ana.
Oil prices got a boost on Friday, rising from three-month lows as powerful Hurricane Wilma showed signs of hindering the recovery of oil operations in the storm-battered Gulf of Mexico.
Anaheim has joined a growing list of cities that are looking to get into high-speed wireless Internet access. The City Council is expected to consider a proposal this week by Atlanta-based EarthLink Inc. to build networks allowing Internet access via lapt
An important gauge of future economic activity declined sharply in September as fallout from the Gulf Coast hurricanes continued to batter the U.S. The toll on jobs lost from the storms rose to nearly a half-million.
Google Inc. shares rocketed up 14% to an all-time high on Friday as better-than-expected quarterly results proved a catalyst for the Web search company and its rivals.
Home appliance maker Maytag Corp. on Friday reported a bigger-than-expected third-quarter loss, hurt by higher energy and distribution costs and weakness at its Hoover vacuum division.
Thursday, October 20
The top handset maker Nokia reported solid third-quarter results on Thursday, but its shares fell as investors had expected more after strong performances from its rivals.
Web search leader Google Inc. on Thursday posted a sharp rise in quarterly profit that topped Wall Street profit and revenue expectations, sending shares of the stock higher.
Oakley Inc. said Thursday that sales of its new sunglass models helped the company post a 16% jump in revenue in the third quarter. But the company also said that its 2005 revenue could be at the low end of a prior forecast.
Lucy Dunn, a longtime local housing executive who left last year to become director of California's Department of Housing and Community Development, has been named to head the Orange County Business Council.
Ford Motor Co. Chief Executive Bill Ford Jr. said on Thursday the automaker will announce a restructuring plan in January that will include "significant plant closings."
Apria Healthcare Group Inc.'s stock slumped on Thursday morning on an analyst's downgrade and comments about a possible company sale.
Ford Motor Co.'s Irvine-based Premier Automotive Group narrowed its losses in the third-quarter but expects to miss its profit target for the year, the automaker said Thursday.
Irvine-based Broadcom Corp.'s shares shot up in afterhours trading Thursday after reporting record third-quarter earnings and sales, both of which topped analysts' expectations.
Baxter International Inc. on Thursday reported lower third-quarter net earnings as special charges ate into profits.
Factories in the Mid-Atlantic region boomed in October after recovering from a post-Katrina slump as new orders jumped, but a key inflation measure hit its highest in 25 years, a survey showed on Thursday.
Wednesday, October 19
Housing starts jumped 3.4% in September and permits for future groundbreaking surged to a 32-year high, defying forecasts for a slowdown in construction following hurricanes Katrina and Rita, government data showed on Wednesday.
Shares of Huntington Beach-based Quiksilver Inc. looked like a ski slope on Wednesday as its stock closed down more than 13% after warning about profits for next 12 months.
Federal Reserve Board Governor Donald Kohn said on Wednesday it was not yet time for the central bank to abandon its interest-rate raising campaign, even though rates were "considerably closer" to where they need to be.
The Irvine Company has wrapped up its buy of two downtown San Diego office towers for $265 million, according to the San Diego Union-Tribune.
Declining sales are likely to push the U.S. market share of General Motors Corp. for October to its lowest monthly level in 25 years, a leading Wall Street analyst said.
Bank of America Corp., the No. 2 U.S. bank, on Wednesday said third-quarter profit rose 10%, helped by surging credit card fees, investment gains and trading revenue.
Aliso Viejo-based QLogic Corp. fell short of revenue estimates with results for the quarter ended Oct. 2 but slightly topped profit expectations for ongoing operations.
Honeywell International on Wednesday reported a 26% surge in quarterly profit on strong demand for aircraft parts and services, while its building controls business got a lift from the acquisition of Novar's security arm.
Intel Corp. reported that third-quarter profit rose 5% on surging sales of its chips used to run laptop computers, but the shares fell in pre-open trading Wednesday as the earnings lagged Wall Street estimates.
EBay Inc., the largest online auction site, on Wednesday posted a 40% rise in quarterly net profit fueled by solid growth in U.S. and German auctions and expansion of its payment business.
Tuesday, October 18
Unisys Corp. on Tuesday posted a quarterly loss and the provider of consulting services such as systems integration said it would cut 10% of its work force and divest businesses to cut costs.
Inflation at the wholesale level last month soared by the largest amount in more than 15 years, reflecting the surge in energy prices that occurred following the Gulf Coast hurricanes.
ICU Medical Inc. reported sales and profits that beat Wall Street estimates on Tuesday, sending the device maker's shares higher in afterhours trading.
Skyrocketing energy prices will weigh on global growth but will likely exact a much smaller toll than surging oil prices did in the 1970s, Federal Reserve Chairman Alan Greenspan said on Tuesday.
The mortgage boom hasn't busted yet at Downey Financial Corp. The Newport Beach-based operator of Downey Savings & Loan said Tuesday third-quarter profit more than doubled from a year earlier on fees from loans and deposits.
The outlook for Orange County's economy remains solid, despite a predicted easing in home prices and rising oil prices, according to California State University, Fullerton's 2006 economic forecast.
Motorola Inc. said on Tuesday that its third-quarter earnings rose on strong sales of its mobile phones, including the popular Razr phone.
It took just eight days for Refco Inc. to go from up-and-comer to down-and-out, with a midnight bankruptcy announcement capping off the commodities broker's stunning collapse.
Intel Corp. on Tuesday posted a higher quarterly profit as the world's largest chipmaker saw strong demand across all of its microprocessor product lines.
ThalesRaytheonSystems Co., a venture of Raytheon Co. and France's Thales Group with its U.S. base in Fullerton, said Tuesday it won $120 million in contracts from Switzerland's defense procurement agency.
Seal Beach-based Baker Tanks Inc. is trading hands again. Private equity firm Lightyear Capital LLC said Tuesday it plans to buy Baker Tanks from Chicago-based Code Hennessy & Simmons for a reported $500 million.
Irvine-based Broadcom Corp. continues to boost its presence in Europe, this time with an office in Cambridge, England.
Johnson & Johnson on Tuesday said its third-quarter earnings rose on strong demand for its medical devices, including its Cypher stent, but sales of prescription drugs fell amid competition from cheaper generics. The company also said its considering alte
Monday, October 17
Paul McCulley, managing director and portfolio manager at Newport Beach-based bond fund operator Pacific Investment Management Co., leads the company's Cyclical Economic Forums. In this interview McCulley talks about Fed policy and a slowdown in the housi
The hurricanes roiled the energy markets. Higher interest rates are threatening to put an end to the housing market's historic boom. Meanwhile, a surging federal deficit could put more pressure on rates and the U.S. dollar.
The popularity of voice over Internet protocol service is helping Mindspeed's shares, in the Technology column
A real estate developer plans to redevelop an old battery factory in Fullerton
Alliance Imaging has lowered its revenue outlook and bought a company
Westfield Century City Mall is getting a makeover and Santa Ana's MainPlace could be next
St. Jude Medical Inc. on Monday said third-quarter profit rose 84%, boosted by strong sales of implantable heart devices, a day after the company announced a $1.3 billion deal to expand into products to treat pain and nervous system disorders.
Some hope a military radio by Boeing can be geared to civilians
Sole Technology is looking to double its shoe designing operation
The Athens Group plans to redesign an existing nine-hole golf course and build a Craftsman-style hotel and up to 50 condominiums on the site of the Aliso Creek Inn and Golf Course.
Legendary T. Boone Pickens upped his investment in a Seal Beach natural gas company
The median price of a home sold in Orange County rose 14% in September to $610,000 versus a year earlier but was down slightly from August's peak.
The Irvine Company is set to start building office towers in the Spectrum
General Motors Corp. on Monday announced a deal with the United Auto Workers union to slash its healthcare costs, sending its shares up as much as 13% even as it posted a fourth straight quarterly loss.
IBM, the world's largest computer company, on Monday posted a dip in quarterly net profit, but topped Wall Street expectations as its consulting and services business rebounded for a second straight quarter.
OC's vacancy rate is at its lowest while mortgage companies,the biggest occupiers of space,are feeling a crunch, in the Real Estate column
Oakley is pushing its latest sunglasses with a built-in digital music player, in the Media & Marketing column
Wachovia Corp., which is buying Irvine-based Westcorp, on Monday said third-quarter profit rose 32% to a record, helped by increased fees, trading revenue and lending income, and the acquisition of SouthTrust Corp.
Troubled commodities broker Refco Inc. could be essentially scrapped for its parts, with talks Monday aimed at selling the company's core futures brokerage business to a group of private investors.
An Irvine maker of software for drug trials got its start with a little help from a big backer
Industrial Activity Soars in Mid-Counties Region. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Legendary oilman T. Boone Pickens has invested another $30 million in his Seal Beach-based Clean Energy Fuels Inc., a provider of natural gas for buses, taxis and other alternative-fuel vehicles.
Logical Apps has raised $14 million in a first round of venture funding
Talking with SEC Chairman Christopher Cox
Christopher Cox's two months atop the Securities and Exchange Commission isn't long enough to tell how his tenure will play out.
Logical Apps has raised $14 million in a first round of venture funding. PLUS: Summaries of other business news and top stories by industry
A direct mailing company is moving its Fullerton operation to La Mirada
Advanced Medical Optics tweaked its strategy and altered its sales guidance, in the Healthcare column
Growth in Orange County's manufacturing sector continued to outpace California's in the third quarter, according to a survey of purchasing managers released Monday by Chapman University.
Stock brokerages reported a slim loss in workers in the past year as the major markets posted mediocre gains.
Yen Sushi & Roll offers Japanese dishes with a familiar but modern twist, in the Executive Dining column
The California International Auto Show was strong for Renick Cadillac, in the Marketplace column
A Swedish software maker is moving key executives to Irvine
Newport Beach's William Lyon Homes Inc. on Monday named three directors to its board, including former The Irvine Company executive Gary Hunt.
Friday, October 14
The Irvine Company plans to start building twin 14-story office towers next month in the Irvine Spectrum.
UnitedHealth Group Inc., which is buying Cyrpess-based PacifiCare Health Systems Inc., reported a 21% rise in third-quarter earnings on higher revenue from premiums and slightly lower costs.
Irvine-based Gardenburger Inc., which only three months ago said it was up for sale, has filed for bankruptcy protection and plans to go private.
Harvard University has tapped Mohamed El-Erian to head its $26 billion endowment. El-Erian has been managing director at Newport Beach-based Pacific Management Investment Co. since 1998.
Consumer prices shot up an unexpectedly large 1.2% last month, the biggest gain in more than 25 years, as hurricanes Katrina and Rita led to the biggest energy-price surge on record, a government report showed on Friday.
Sales of new cars and trucks at the retail level appear to have fallen off the cliff in October, led by steep declines at General Motors Corp. and Ford Motor Co., J.D. Power and Associates said on Friday.
Thursday, October 13
Web search engine Google Inc. and cable company Comcast Corp. are in discussions to buy a stake in Time Warner Inc.'s America Online, two sources said, in a deal reportedly worth as much as $5 billion.
Refco Inc., the commodities broker mired in an accounting scandal which finds its chief executive accused of hiding bad debts from shareholders and regulators, said Thursday it will freeze customers' accounts in one of its unregulated subsidiaries for 15
Samsung, the world's largest maker of memory chips for computers and other electronic gadgets, has agreed to plead guilty to price fixing and pay a $300 million fine, U.S. officials said Thursday.
China and the U.S. failed on Thursday to find a formula to regulate China's booming textile shipments, immediately prompting American manufacturers to seek curbs on imports of towels made in China.
In a bid to protect its best-selling drug, Procrit, a Johnson & Johnson company has charged Amgen Inc. with antitrust violations, claiming that illegal sales practices force cancer doctors to choose its competing anti-anemia drug.
Irvine-based security monitoring company Westec InterActive has acquired three companies in a move that's set to double its workforce to 300 people.
Retail sales rose in September on strong demand for clothes and building materials, suggesting that consumer spending rebounded after Hurricanes Katrina and Rita, according to a report released on Thursday.
Impac Mortgage Holdings Inc., a mortgage investor that has seen its stock cut in half since June, said Thursday it plans to buy back 5 million of its shares, throwing a bone to dinged investors.
Newport Beach-based SM & A; said its profit and revenue rose in the third quarter as the consulting company added new clients outside its traditional aerospace and defense concentration.
Wednesday, October 12
Loan production by Irvine's ECC Capital Corp. shot up 62% in the third quarter to $4.4 billion versus a year earlier, the subprime lender said.
Microsoft Corp. and Yahoo Inc. said on Wednesday that they will link up their free instant messaging services to create a combined community of 275 million users.
Bridgestone Firestone North American Tire has agreed to pay $240 million to Ford Motor Co. to settle claims related to the tiremaker's 2000 recall of defective tires, Bridgestone Firestone said Wednesday.
Billionaire investor Kirk Kerkorian has increased his stake in General Motors Corp. to nearly 10%, according to a company filing released Wednesday.
Mortgage applications fell for a third consecutive week as interest rates on 30-year home loans climbed to their highest levels since late March, an industry trade group said on Wednesday.
Chemical company American Vanguard Corp. said Wednesday its Alabama plant was closed for two weeks after Hurricanes Katrina and Rita but didn't have a material impact on operations.
Costa Mesa-based Experian Group posted record 29% revenue growth for the six months ended Sept. 30, according to parent company Gus PLC of Britain.
Fans of Martha Stewart who snapped up her towels and sheets will soon be able to live in a house designed by the domestic maven.
Alliance Imaging Inc., an Anaheim-based provider of medical imaging services, on Wednesday lowered its revenue outlook for the third quarter and announced an acquisition.
Federal Reserve Chairman Alan Greenspan on Wednesday said the ability of the U.S. economy to weather shocks showed the benefits of flexibility, even if this performance also encouraged "speculative excess."
Google Inc. and Comcast Corp. are in "serious discussions" to buy a minority stake in Time Warner's America Online, a source familiar with the matter said on Wednesday.
Tuesday, October 11
Irvine software maker Logical Apps Inc. has raised $14 million in a first round of venture funding.
Hurricanes, inflation, higher interest rates,they're starting to weigh on local executives' minds.
Digital media company RealNetworks Inc. announced a legal settlement Tuesday with longtime adversary Microsoft Corp., ending the last major antitrust case against the world's largest software maker.
Consumers were slightly less pessimistic about the U.S. economy in October, with rising interest rates and high gasoline prices the main worries, according to a survey released on Tuesday.
The Federal Reserve felt the need to keep boosting interest rates in September partly out of concern that a pause might mislead people into thinking it was too worried about the economic impact of Hurricane Katrina.
Another developer has plans to remake a swath of Anaheim's Platinum Triangle into homes and shops: San Francisco-based AMB Property Corp.
Inco Ltd., the world's No. 2 nickel miner, said on Tuesday it would buy rival Falconbridge Ltd. for more than C$12 billion, trumping an effort by Swiss-based Xstrata PLC to take over the Canadian nickel and copper producer.
Billionaire investor Carl Icahn on Tuesday laid out more reasons for new independent directors on the board at Time Warner Inc., stepping up his criticism of the strategy at the giant media conglomerate.
Monday, October 10
Executives see more growth, though their mood isn't as positive as it was a quarter ago
Advanced Medical Optics Inc., a Santa Ana-based maker of contact lens and eye surgery products, cut its earnings estimates for the year on Monday but upped its 2007 sales guidance on plans to focus more on surgery products.
Irvine-based Micro Therapeutics Inc. said Monday that ev3 Inc., its majority shareholder, offered to buy the rest of the company for about $110 million.
Healthcare groups and the federal government are tracking how hospitals are caring for patients, in the Healthcare column
New Freedom Boss Has Big Backers; Biz Chief Coming?
Falling prices offset sales growth at contract electronics makers in the past year
San Francisco's AMB Property has its eye on development in the Platinum Triangle
The United Arab Emirates has awarded Fluor Corp. a $1 billion contract to build the first stage of a gas complex expansion.
A Barron's report cast a skeptical eye toward one of Edwards Lifesciences' heart valves
Acquisitions, public stock sales and leadership changes dominated the apparel sector in the past year
TransDimension Inc.,a well-funded maker of chips and software that link electronic devices,has been sold to Oxford Semiconductor Inc.,
Bankrupt auto parts supplier Delphi Corp. plans to offer executives cash and up to a 10 percent stake in a reorganized Delphi as an incentive to stay, while seeking massive concessions from hourly workers.
Ingram Micro is getting lots of attention from Wall Street, in the Technology column
Prices for healthcare plans could rise at a faster pace next year
The idea of building a six-lane tunnel though the mountains of the Cleveland National Forest to ease traffic is supported by nearly 70% of Riverside County voters, according to a recent poll.
Racetracks ponder their future in the era of slot machines
Allergan's been working its pipeline to good results on Wall Street
Unisys Corp. on Monday said it expects to post a third-quarter operating loss instead of a profit, hurt by weak revenues in its computer technology and services businesses.
University of California, Irvine's School of Medicine has teamed with Tustin-based Toshiba America Medical Systems on a medical imaging research center
Industrial construction keeps pace in West County. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
PR insiders talk shop, in the Media & Marketing column
Newport Beach-based Macsteel Service Centers USA Inc. said last week it plans to buy Chicago's Alpha Processing Inc. for an undisclosed price.
A look at people, companies and institutions receiving awards, accolades, grants and other honors
A maker of software for the insurance brokerage industry has landed $20 million in funding
Johnson Controls Inc. plans to move its Fullerton auto battery plant to Arizona, cutting about 115 jobs, according to the Milwaukee-based company.
Special Report: Fifi's Best,The Business Journal has compiled and condensed Fifi Chao's main reviews of the past 12 months.
The Southland has more to do to get ready for a major quake, in State of the State
China is the big challenge for a Huntington Beach-based nail file maker
Short sellers have yet to take aggressive aim at homebuilders
Alcoa Inc., the world's biggest aluminum producer, said on Monday that third-quarter net income rose slightly, although its operations were hurt by declining aluminum prices and soaring energy and raw material costs
CB Richard Ellis has tinkered with its top management here, in the Real Estate column
Insurance provider Lincoln National Corp. agreed Monday to acquire Jefferson-Pilot Corp. for about $7.5 billion in cash and stock. Jefferson-Pilot's shares rose nearly 6% in trading.
A cosmetic tailgating party highlighted the Nordstrom opening at the Irvine Spectrum Center, in the Marketplace column
Johnson Controls Inc. plans to move its Fullerton auto battery plant to Arizona, cutting about 150 jobs, according to the city.
Friday, October 7
A smaller-than-expected 35,000 jobs were lost in the United States last month as hiring in some regions was offset by layoffs stemming from the damage caused by Hurricane Katrina, according to a Labor Department report on Friday.
Warren Buffett's Berkshire Hathaway Inc. said on Friday the former chief executive of its General Re Corp. unit could face action from the U.S. securities watchdog as part of an investigation into non-traditional insurance products.
Lake Forest-based Apria Healthcare Group Inc. warned Friday that its revenue in the third and fourth quarters would fall short of expectations.
U.S. inflation pressures climbed in September to their highest in over five years, according to a report on Friday that suggested the Federal Reserve was right to remain vigilant over price increases.
Fullerton-based Beckman Coulter Inc. said Friday it plans to buy privately held Webster, Texas-based Diagnostic Systems Laboratories Corp.
Peter Butterfield, who's lead the U.S. arm of Kia Motors Corp. since 2001, has left the South Korean automaker as it enters a new phase of expansion.
Aliso Viejo-based Fluor Corp. said Friday it plans to join in the rebidding of federal contracts to clean up and rebuild the Gulf of Mexico region destroyed by Hurricane Katrina.
Thursday, October 6
America Online Inc. will inherit Engadget, Autoblog and other popular Web journals as part of a $25 million deal announced Thursday that expands AOL's presence in the blogging community and the company's potential to attract advertising dollars.
Chain stores slashed prices to drum up demand in September as Hurricanes Katrina and Rita drove up gasoline prices and pinched consumer spending, putting pressure on profits, retailers reported on Thursday.
General Electric Co. said Thursday it expects earnings to meet the high end of earlier projections for the third quarter, and raised its outlook for full-year profit. Its shares rose more than 2%.
Oil slid to its lowest level in two months on Thursday as U.S. drivers finally eased off the gas and the world's energy watchdog said there was no pressing need to dip further into emergency fuel reserves.
George Argyros is back on the board of Santa Ana's First American Corp., the title insurer said Thursday.
Hurricane Katrina and high energy prices have taken a toll on business optimism among the nation's chief executives, according to a survey by the Business Council and the Conference Board released on Thursday.
Bearings maker Timken Co. has bought Los Alamitos-based Bearing Inspection Inc. for undisclosed terms, the company said Thursday.
Anaheim-based Pacific Sunwear of California Inc. posted same-store sales gains in September, beating Wall Street estimates and sending the surfwear retailers's shares higher.
MCI Inc. shareholders voted overwhelmingly Thursday to approve an $8.4 billion acquisition by Verizon Communications Inc., despite some lingering shareholder resentment over the company's rejection of a higher bid.
Broadcom Corp. said Thursday it's buying Fremont-based Athena Semiconductors Inc. for $21.6 million.
Shares of Newport Beach's William Lyon Homes Inc. were down 6% in afternoon trading Thursday on the heels of a report showing it posted lower-than-expected new home orders in the quarter ended Sept. 30.
Wednesday, October 5
The economy received another inflation warning on Wednesday, when a survey of industry executives showed that energy costs drove prices higher in September while the services sector slowed.
Yum Brands Inc., parent of Irvine-based Taco Bell Corp., reported a nearly 16% rise in third-quarter profit on Wednesday, citing strong sales in the U.S. and growth overseas.
Shares of ADC Telecommunications Inc. fell more than 15% in pre-market trading on Wednesday after the communications equipment maker warned that quarterly earnings would fall short of Wall Street expectations.
Newport Beach-based Macsteel Service Centers USA Inc. said Wednesday it plans to buy Chicago's Alpha Processing Inc. for an undisclosed price.
Motorola Inc. is cutting 1,900 jobs at 29 different U.S. and international locations in an effort to improve operating efficiency, the company said Wednesday.
Anaheim-based Pacific Sunwear of California Inc. was one of several retailers downgraded Wednesday by Banc of America Securities.
Irvine-based TransDimension Inc.,a well-funded maker of chips and software that link electronic devices,has been sold to Oxford Semiconductor Inc., the company said Wednesday.
John Campbell easily emerged from Tuesday's election as the front-runner to replace Chris Cox's vacated House of Representatives seat.
Score a win for dissident shareholders of Irvine-based healthcare software maker Quality Systems Inc.
Viacom Inc. on Wednesday filed its prospectus with federal regulators to divide the company in two, forming one company that would include the CBS network and another that would include MTV and other cable networks and Paramount Pictures.
Tuesday, October 4
Lexmark International Inc. on Tuesday slashed its profit outlook and its shares plummeted 23%, as the computer printer maker took a hit from aggressive pricing by its larger rival Hewlett-Packard Co.
Now that he's tackled the Supreme Court openings, President Bush is preparing for another high-profile nomination: a successor to Alan Greenspan, whose 18-year run at the Federal Reserve comes to an end in just over three months.
Sun Microsystems Inc. and Google Inc. on Tuesday said they agreed to a multiyear pact for Google to promote Sun's software technologies in what amounts to a direct challenge of Microsoft Corp.'s dominance of business users' desktops.
A total of 108 low producing oil and natural gas offshore platforms were destroyed by hurricanes Rita and Katrina and likely will not be rebuilt, Interior Secretary Gale Norton said on Tuesday.
Orders at factories rose 2.5% in August as demand for a wide array of both long-lasting and non-durable goods increased, the government said on Tuesday in a report that suggested the U.S. economy had momentum before two hurricanes battered the Gulf Coast.
Costa Mesa-based Valeant Pharmaceuticals International said Tuesday it got an "approvable letter" from the Food and Drug Administration for Zelapar, a drug to treat Parkinson's disease.
Fluor Corp. said Tuesday that it has agreed to settle a dispute with the developer of a resort hotel in the Cayman Islands.
Chain store sales bounced higher in the latest week following softness in previous weeks related largely to economic fallout from Hurricane Katrina and higher gasoline prices, a report said on Tuesday.
Monday, October 3
A casual Mexican restaurant is coming to the Triangle, in the Marketplace column
Construction spending edged up 0.4% in August to a record high as both public and private outlays rose, a Commerce Department report showed on Monday.
Google Inc. and computer maker Sun Microsystems Inc. plan on Tuesday to announce a "collaborative effort" in Silicon Valley.
A new kind of OC devloper is emerging, though the older guard still is going strong
Irvine-based Freedom Communications Inc., publisher of the Orange County Register, on Monday named director Scott Flanders as its next chief executive.
Software maker Symantec Corp. on Monday said it agreed to acquire information technology security company BindView Development Corp. for about $209 million in cash.
Allergan Inc. said Monday it granted exclusive rights to sell its Botox wrinkle-reducing drug in China and Japan to Britain's GlaxoSmithKline PLC.
The Irvine Company's looking to run its hotels, golf courses, restaurants and a marina
A Foothill Ranch wireless services gear provider has combined with a Miami company
Some local cities aren't showing Comcast and Time Warner the welcome mat
IndyMac's expanding as the housing boom appears to be peaking
R & D; Sector Sees Q2 Vacancy Rise, Lease Rates Fall. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
General Motors Corp. and Ford Motor Co. on Monday posted big declines in U.S. vehicle sales in September as employee pricing discount programs lost their allure and sales of SUVs plunged on higher gasoline prices after hurricanes ravaged the Gulf Coast.
Former Scampi owner Massimo Navarretta is opening a restaurant, in the Executive Dining column
Buy.com Inc. may yet be a "buy",or "sell",on Wall Street. The Aliso Viejo-based online retailer recently has made some moves that signal the company soon could go public again.
Edwards has launched its mitral replacement heart valve in Europe, in the Healthcare column
Buy.com has made some recent moves that signal it could go public,again
Thriving family businesses are a major part of the economy, a Viewpoint by Mike Trueblood, director of Cal State Fullerton's Family Business Council.
PacifiCare and others have dodged a bullet as the Medicare prescription drug plan goes forward
Orange County's biggest public relations firms are breathing a sigh of relief.
Broadcom's chief executive is optimistic on chip trends, but concerned about the economy, in the Technology column
The former Western Digital building is being leased by an executive suites company, in the Real Estate column
All but two Orange County automakers posted gains in September sales on Monday.
Factories ran at their strongest pace in a year in September, registering large increases in orders despite a sharp rise in the price of raw materials, according to a survey published on Monday.
Orange County's public relations firms continue to adjust to a new reality.
General Electric Co. on Monday reaffirmed its outlook for third quarter and full-year profits despite the impact of Hurricane Katrina on its insurance business.
Meet Roger Hobbs; Little Saigon Draws Gulf Coast Victims
A sportswear maker has fled California, citing the state's costly business climate