Stories for May 2007
Thursday, May 31
Wachovia Corp. on Thursday said it will buy A.G. Edwards Inc. for $6.8 billion in cash and stock, creating the second-largest U.S. retail brokerage.
Buy.com Inc. has sold a 9% stake in the Aliso Viejo-based online retailer to New York-based private equity firm Clearlake Capital Group LLC.
Average U.S. home prices rose 0.5% in the first quarter from the prior quarter and 4.3% from a year earlier, but price appreciation was the slowest in a decade, a federal regulatory agency reported on Thursday.
Interventional Spine Inc., an Irvine medical device maker previously known as Triage Medical Inc., said Thursday it raised a $24 million third round of financing.
Avanir Pharmaceuticals Inc., an Aliso Viejo drug maker, said Thursday that regulators gave marketing approval for a new formulation of its FazaClo schizophrenia drug.
U.S. economic growth in the opening quarter this year was the weakest in more than four years as businesses sold off inventories and Americans imported more foreign goods, the government reported on Thursday.
Wednesday, May 30
Santa Ana-based Advanced Medical Optics Inc.'s recall of its Complete MoisturePlus contact lens solution stands to benefit a couple of rivals: Cooper Cos. of Lake Forest, and Alcon Inc., which employs some 600 people in Irvine, analysts said Wednesday.
Microsemi Corp., the Irvine-based maker of chips that power satellites, military aircraft, medical equipment and other things, has opted not to close an Ireland plant previously marked for job cuts.
Influential shareholder advisory firm Institutional Shareholder Services recommended in a report that Biomet Inc. shareholders vote against a $10.9 billion private-equity buyout of the orthopedic device maker, saying the price is not high enough.
IBM Corp. laid off 1,570 people Wednesday, primarily from an ongoing overhaul of operations in its giant technology services unit.
IntercontinentalExchange Inc. said on Wednesday that it had enhanced its bid for CBOT Holdings by reaching an agreement that might resolve that company's dispute with the Chicago Board Options Exchange.
Lake Forest-based InSight Health Services Holdings Corp., a provider of medical scanning services that is seeking to trade most of company's shares for debt relief, now is taking its plan to bankruptcy court.
Tuesday, May 29
Advanced Medical Optics Inc.'s shares fell about 14% Tuesday on the market's first reaction to word late Friday that the company was recalling its Complete MoisturePlus contact lens solution.
The International Trade Commission delayed issuing penalties late Friday to San Diego's Qualcomm Inc., which was found to have infringed on patented cell phone chips made by rival Broadcom Corp. of Irvine.
Ford Motor Co. plans to sell Swedish car maker Volvo, which has its U.S. base in Irvine, with Germany's BMW AG as a possible buyer, according to a Swedish newspaper.
Consumers and investors became more optimistic in May, while U.S. home prices declined in the first quarter for the first time in 16 years, according to reports published on Tuesday.
Santa Ana-based First American Corp. said a federal appeals court has reversed $32.4 million in punitive damages against one of the title company's subsidiaries.
A Santa Ana jury decided Tuesday that Qualcomm Inc. infringed three cell phone chip patents owned by Irvine's Broadcom Corp.
Real estate investment trust Archstone-Smith has agreed to be acquired by Tishman Speyer and Lehman Brothers Holdings for $22.2 billion, including debt, the companies said on Tuesday.
Monday, May 28
Emulex has regained some ground in a running game of catch-up with rival QLogic
Beyond Marketing Group knows how to party, in the Small Business column
VidShadow invests in a cell phone counterpart, in the Technology column
Bills that would change workers' compensation, housing development, freight movement and fuel prices are among nearly two dozen that made the Job Killer Bills list, in State of the State
A look at people, companies and institutions receiving awards, accolades, grants and other honors
A Wall Street analyst is keeping a "hold" rating on Valeant Pharmaceuticals, in the Healthcare column
Ladera Ranch Magazine is getting ready to publish this summer, in the Media & Marketing column
Beckman Coulter's chief exec says it doesn't need Biosite to grow
The county's top legal firms keep striking office lease deals, in the Real Estate column
Sybron Dental Specialties is expanding its operations in one of the county's larger leases
The Fullerton Chamber of Commerce supports the Amerige Court development. Plus: The housing debate between the Disney Resort and the city of Anaheim has focused attention on the affordable housing situation in OC, in Letters
The University of California, Irvine's business school plans to start offering its first bachelor's degree next year
OC's retail market saw a decline in vacancy in the first quarter. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Ventana Capital Management is readying a $200 million fund for investments
State Insurance Commissioner Steve Poizner on his first 100 days in office and his goals for the department
Jackson, DeMarco, Tidus & Peckenpaugh takes on 37 new employees from Castle, Petersen & Krause
A Q & A; with commercial printing executives about their outlook for the year amid the rising costs of doing business in California.
The former head of Lennar's OC operations has traded in his name tag there for a leading role at a land development company
Four new stores have popped up at South Coast Plaza, in the Marketplace column
NNN Realty Advisors is making its way to Wall Street by snapping up one of the better known names in the sector
March yourself over to the new March & #233; Moderne, in the Executive Dining column
The Business Journal honors OC's Women in Business: highlights from this year's event
Friday, May 25
Coca-Cola Co. on Friday said it would acquire Glaceau for $4.1 billion in cash to gain a foothold in the fast-growing enhanced water market.
Tribune Co., publisher of the Los Angeles Times, said shareholders tendered almost twice as many shares than what the media company sought to repurchase as part of a $8.2 billion deal to go private.
Billionaire Steven Udvar-Hazy has given up plans to build a resort in Laguna
Clean Energy Fuels Inc., the Seal Beach company backed by T. Boone Pickens, started trading Friday after cutting the number of shares offered and their price.
General Electric Co. Chief Executive Jeffrey Immelt said his "green" ecomagination unit is on track to "blow away" its 2010 sales target of $20 billion as demand for environmental products and services surges.
Thursday, May 24
Tustin's Cherokee International Corp. reported gains in revenue and profits with its delayed fourth-quarter report on Thursday.
Sales of new homes rose 16.2% in April, the sharpest climb in fourteen years, while prices fell a record 11%, according to a government report on Thursday that showed home builders taking extraordinary steps to move houses.
Luxury home builder Toll Brothers said quarterly profit fell 79%, hurt by the U.S. housing slump, but its shares rose on Thursday along with its sector after government data showed a better-than-expected rise in new home sales.
Irvine-based subprime lender New Century Financial Corp. on Thursday said its 2005 earnings were likely significantly inflated due to accounting errors.
General Motors Corp. said on Thursday U.S. securities regulators had requested documents relating to its accounting for financial hedges and said a parallel inquiry at its former finance arm could force the automaker to restate past results again.
Santa Ana-based Advanced Medical Optics Inc. said Thursday it's interested in buying rival Bausch & Lomb Inc. and is willing to pay more than the $3.67 billion offer accepted from private equity firm Warburg Pincus.
Wednesday, May 23
Investors looked past a modest profit forecast for the current quarter by Foothill Ranch-based Wet Seal Inc. and drove up the company's shares Wednesday after the retailer beat estimates for the recently ended quarter.
Target Corp. said on Wednesday quarterly profit rose almost 18%, boosted by its credit card business and strong sales at established stores.
There's more bad news to come from subprime mortgages but the sector's meltdown is unlikely to spread, said Scott Simon, a portfolio manager at Newport Beach's Pacific Investment Management Co. on Wednesday.
Canada's Alcan Inc is in talks with global mining giant BHP Billiton as it looks to fend off a takeover attempt by U.S. rival Alcoa Inc , Canada's Globe and Mail newspaper reported on Wednesday.
Anaheim-based retailer Pacific Sunwear of California Inc. named its interim boss for the past eight months as its permanent chief executive on Wednesday.
Shares of Aliso Viejo-based SenorRx Inc. shot up more than 13% on Wednesday after the Food and Drug Administration approved its breast cancer treatment, the company said.
Lenovo Group Ltd., which has slipped a notch to fourth among global PC makers, returned to the black in its fiscal fourth quarter after turning round its U.S. arm, but faces a competitive year.
Tuesday, May 22
Broadcom Corp. shot down rumors Tuesday of a settlement to months of legal squabbling over cell phone chip patents between the Irvine chipmaker and rival Qualcomm Inc..
Fremont General Corp., said on Tuesday it had agreed to sell its commercial real estate lending business to iStar Financial Inc. for about $1.9 billion, sending its shares soaring more than 50% in premarket trading.
Staples Inc., the world's largest office supplies retailer, said on Tuesday its quarterly profit rose 12.4%, driven by higher sales of laptop computers and continued growth in its copy and print service businesses.
Close to 600,000 square feet of Central County office space leased by ACC Capital Holdings Corp., the parent of subprime lender Ameriquest Mortgage Co., has been put back on the market, according to real estate sources.
Cisco Systems Inc. said it would buy privately held BroadWare Technologies to expand its video surveillance equipment business.
Santa Ana-based NNN Realty Advisors Inc.,parent company of real estate investor Triple Net Properties LLC,is combining with Chicago-based brokerage Grubb & Ellis Co., the companies said Tuesday.
Monday, May 21
Kimera in Irvine is a new take on decor and food, in the Executive Dining column
Wireless company Alltel Corp. said on Sunday it had agreed to be bought by TPG Capital and the buyout arm of Goldman Sachs for about $25 billion, making it the latest U.S. corporate giant to fall into private equity hands.
Crevier Classic Car Co. in Costa Mesa is a manly place, in the Marketplace column
Landlord Maguire Properties Inc. on Monday said it was selling off three Orange County offices formerly owned by Equity Office Properties Trust.
The Securities and Exchange Commission plans to recommend an administrative proceeding into Santa Ana's Ingram Micro Inc.'s dealings with security software maker McAfee Inc. from 1998 to 2000, the company said Monday.
Irvine's Impac Mortgage Holdings Inc., which buys mortgages as investments, is looking to start making loans itself with the acquisition of Florida's Pinnacle Financial Corp.
A costly pollution rule looms for construction companies, in Regulation Watch
Allergan thrives with its new medical cosmetics products, in the Healthcare column
OC's Shopping Centers saw a year of moderate growth
Beckman Coulter came its senses over Biosite. Inverness, not so much, an Editorial by Michael Lyster
Countrywide Financial Corp. Chief Executive Angelo Mozilo said on Monday that proposed regulation in the subprime mortgage industry would help crooks while hurting legitimate lenders and the housing market.
Trancas Capital is in the fun business
Close to 600,000 square feet of Central County office space leased by the parent of Ameriquest Mortgage has been put back on the market
Beckman Coulter has folded in a six-week bidding war for coveted acquisition Biosite
Hines Interests and partner Crescent Real Estate Equities have landed a third major tenant for their office building opening in Irvine, in the Real Estate column
One More Reason For Subprime Mess; Pimco's Odd Couple
The Orange County low-rise office market continues to surge. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Gateway's chief has laid out his vision to turn around the drifting computer maker
The Irvine Company is readying to start a low-rise office building near its headquarters
Sage Software, after buying eight companies since the start of 2006, is taking a breather
Joel Waller, the executive who turned around Foothill Ranch-based retailer Wet Seal Inc., is set to step down in February when his contract is up.
Tech Coast Angels has made a big investment in software developer Clupedia, in the Technology column
The county's nursing home operators are hardly geriatric these days
Expect more Hollywood types to be dropping by the Irvine office of Burton Snowboards, in the Media & Marketing column
Irvine's Pegasus Biologics has raised $20 million in a third round of venture capital funding
CB Richard Ellis Group is moving about a third of its local workers out of state
A beloved member of the Business Journal family passes away
Blackstone Group LP on Monday said it planned to raise as much as $7.75 billion from selling stakes to the public and to China, in perhaps the year's most eagerly awaited initial public offering.
Friday, May 18
The White House said Friday it will move quickly to find a successor , preferably an American , for departing World Bank President Paul Wolfowitz as the administration sought to rebuild relationships strained by the controversy.
Orange County's unemployment rate rose slightly to 3.5% in April, the state Employment Development Department said Friday.
Nasdaq officials continue to badger Aliso Viejo-based Quest Software Inc. for a running lapse in financial results amid a probe into stock option grants.
Clear Channel Communications Inc. said on Friday its board approved an increased buyout proposal of $39.20 a share, or $19.6 billion, which includes an option that allows current shareholders to take about a 30% stake in the restructured company.
Irvine's I/OMagic Corp., which designs and sells DVD drives and other computer products, is selling 70% of the company to China's Jiangxi Greatsource Display Tech Co. for $95 million.
Microsoft Corp. said on Friday it would buy aQuantive Inc. for $6 billion, paying an 85% premium to snap up one of the last large independent companies in a consolidating Web advertising market.
Avanir Pharmaceuticals Inc., an Aliso Viejo-based drug maker that's struggled as of late, said Wednesday that a clinical trial showed that its Zenvia drug candidate significantly lessened nerve pain in diabetics.
Thursday, May 17
Irvine's New Century Financial Corp. has auctioned off its loan servicing business for $188 million, the bankrupt subprime lender said.
A surprise drop in new claims for jobless benefits hinted at a healthier labor market, but a fall in a gauge of future economic activity pointed to slower economic growth this summer, data released on Thursday showed.
Private equity investor Blackstone Group LP said on Thursday it would buy Alliance Data Systems Corp., a provider of transaction, credit and marketing services, for $7.8 billion including debt.
Shares of Sony Corp. hit a five-year high on Thursday after it forecast a six-fold surge in group profit this year and said losses in its game unit would shrink by 80% as it boosts sales of PlayStation 3.
Boston Scientific Corp. is in talks to settle 1,350 product liability suits it inherited when it bought Guidant Corp last year, the Wall Street Journal said on its Web site on Thursday, citing unnamed sources.
Clean Energy Fuels Inc., the Seal Beach company backed by legendary oilman T. Boone Pickens, could see its stock market debut next week.
A rash of U.S. mortgage delinquencies is not expected to hurt the broader economy, Federal Reserve Chairman Ben Bernanke said on Thursday.
Wednesday, May 16
Option One Mortgage Corp., the Irvine subprime mortgage lender that's being sold by H & R; Block Inc., is cutting 600 jobs and combining offices, according to trade publication National Mortgage News.
Former Federal Reserve chairman Alan Greenspan has been hired as a bond trading strategy consultant to Newport Beach-based Pacific Investment Management Co.
QLogic Corp. Chief Executive H.K. Desai has handpicked his successor, an IBM Corp. veteran who's set to learn the ins and outs of the company's data networking business.
Eye-care company Bausch & Lomb Inc., still dealing with widespread product recalls that have hurt its sales and delayed financial reports, said on Wednesday it agreed to be acquired by private equity firm Warburg Pincus for about $3.67 billion.
Federated Department Stores Inc. reported lower-than-expected quarterly profit on Wednesday, citing disappointing sales at new Macy's stores, and cut its outlook for the current period on concern about the economy.
Construction of new homes posted a small gain in April but applications for building permits plunged by the largest amount in 17 years, a dramatic sign that the nation's housing industry is still in a steep slump.
Tuesday, May 15
The median price of an Orange County home remained at $629,000 for a second straight month, but dropped marginally from a year ago.
San Francisco-based hedge fund investor ValueAct Capital Partners LP has taken a 7.3% stake in Santa Ana's Advanced Medical Optics Inc.
Shares of Santa Ana-based STEC Inc., a maker of memory products for industrial uses, plunged 25% Tuesday after the company warned a day earlier that profits would be lower than Wall Street's expectations for the current quarter.
Reuters agreed on Tuesday to a $17.2 billion takeover by Thomson that would vault the combined entity ahead of Bloomberg to become the world's largest financial data and news provider.
Enough is enough, Fullerton-based Beckman Coulter Inc. said Tuesday morning. The maker of medical testing and research products won't up its offer for San Diego's Biosite Inc., the target of a bidding war between Beckman and Inverness Medical Innovations
Sales of existing homes in the U.S. are on track to hit 6.4 million this year, down 6.6% from the pace of a year ago, the National Association of Realtors said Tuesday in the latest indication of the housing market's slowdown.
A judge overseeing the bankruptcy of Irvine's New Century Financial Corp. has rejected a government bid to replace the subprime mortgage lender's management with a trustee, according to Reuters.
Shares of Skilled Healthcare Group Inc. priced at the high end of their range and rose 2.5% during trading Tuesday in their public offering debut that raised $258 million.
Consumer inflation eased a bit in April even though gasoline prices surged for a second straight month.
Monday, May 14
Santa Ana-based Triple Net Properties LLC, a real estate investor known for buying office buildings, has picked up more medical buildings and land.
A steep drop in prices for memory chips shows no sign of changing course this year
Family run Fotis & Son Imports is a well-oiled machine, in the Small Business column
OC auto sales dropped 7% in the first quarter, in the Marketplace column
Cardinal Health Inc. said on Monday that it would acquire Viasys Healthcare Inc., which makes medical products for respiratory care and other uses, for about $1.42 billion.
Allergan's deep-rooted eye drugs see gains in sales
A pair of office tower developers has signed leases with two professional services firms for space at buildings going up near John Wayne Airport
A discussion of OC's first-quarter high-rise office vacancy level, in Commercial Real Estate Watch. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
A mixed market for medical device stock offerings isn't scaring off Masimo and Devax from testing the waters
E & Y;'s Anderson to Retire; Samueli on Chips, Ducks, NBA
Submit your fast-growing private company for our new list
Rich Knowland, the Lennar regional vice president who oversaw the homebuilder's massive OC operations, has left the company
QLogic Chief Executive H.K. Desai has handpicked his successor
Whittier Law School's fight to lift a two-year probation on its accreditation has resulted in a lawsuit
Ensign Group, a Mission Viejo-based nursing home and rehabilitative care company, has filed plans to go public, looking to raise up to $95 million.
Private equity firm Cerberus will buy a majority of DaimlerChrysler's struggling Chrysler Group for $7.4 billion, a fraction of the $36 billion deal that created the transatlantic car union nine years ago.
Inland Empire Posts Rebound in Industrial Market Leasing Activity
Ista Pharmaceuticals hits a setback as the FDA fails to approve its steroid eye drug, in the Healthcare column
Newport Beach-based Jazz Technologies Inc., the holding company that bought Jazz Semiconductor Inc. earlier this year, reported a wider first-quarter loss and lower sales amid the chip sector's ongoing slump.
Inland Empire Office Market Continues to See Strong Demand
IPW Experience doubled its space in a move to new offices, in the Media & Marketing column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Pacific Castle plans to invest in shopping centers that target Asian, Hispanic and other ethnic shoppers
Fluor Corp. has signed a lease with The Irvine Company to consolidate and expand its Southern California operations.
Expect heightened investor interest and more speculative office development going forward, as the already hot market continues its upward path.
Ford Motor Co.'s founding family said on Monday that members were not discussing sale of their holdings in the No. 2 U.S. automaker.
A plethora of new dining tempts your palate, in the Executive Dining column
A Sperry Van Ness investment arm sold a Garden Grove business complex, in the Real Estate column
Friday, May 11
Chicago Mercantile Exchange Holdings on Friday raised its takeover offer for the company that controls the Chicago Board of Trade by 16%, increasing pressure on rival bidder IntercontinentalExchange Inc.
Charlotte, N.C.-based LendingTree became the latest mortgage company to lay off Orange County workers on Friday.
Shares of Irvine-based Impac Mortgage Holdings Inc. dropped about 5% Friday after the mortgage investor reported a first-quarter net loss of $121.7 million a day earlier.
Irvine auto marketer Autobytel Inc. said it swung to a first-quarter profit, thanks to settlement of a patent dispute.
Elevated energy costs pushed producer prices up a slightly more-than-expected 0.7% in April, but excluding volatile food and energy costs, prices paid at the factory gate were unchanged, a Labor Department report released on Friday showed.
Retail sales unexpectedly tumbled in April but fresh signs that inflation remained in check reassured financial markets that the economy was slowing in an orderly fashion.
Thursday, May 10
JetBlue Airways Corp. removed David Neeleman as chief executive on Thursday, three months after a major service meltdown, putting the 47-year-old founder of the company into the role of non-executive chairman.
Anaheim-based mall retailer Pacific Sunwear of California Inc.'s big jump in March same-store sales didn't carry over to April, prompting a warning about a loss for the recently ended quarter.
Retailers reported weaker-than-forecast April sales on Thursday after cold, stormy weather and an earlier Easter holiday sapped demand for spring items, prompting some to cut their first-quarter forecasts.
The county's heart valve Goliath is taking a local David to court. Irvine-based Edwards Lifesciences Corp. said Thursday its subsidiary working on a new type of heart valve filed suit against rival CoreValve Inc. of Irvine for alleged patent infringement.
Pegasus Biologics Inc., an Irvine medical device company, said Thursday that it raised $20 million in a third round of venture funding, bringing its total to just under $32 million.
The U.S. trade deficit widened more than expected in March to $63.9 billion, as higher oil prices helped push total imports to the second highest on record, a U.S. government report showed on Thursday.
The bidding war continues. A week after Fullerton's Beckman Coulter Inc. raised its takeover bid for San Diego's Biosite Inc., rival suitor Inverness Medical Innovations Inc. of Massachusetts upped the ante again Thursday.
Wednesday, May 9
Cisco Systems Inc.'s fiscal third-quarter profit surged 34%, but investors punished the stock on signs of weakness for the second straight quarter in a core area of the company's business.
Walt Disney Co. exceeded second-quarter profit expectations, but its performance for the rest of the year is largely up to a pirate captain named Jack Sparrow and a gourmet animated rat named Remy.
Los Angeles-based private equity investor Riordan, Lewis & Haden has tapped Orange County for its first investment with a new $265 million fund it closed late last month.
Private equity firms Providence Equity Partners and Blackstone Group LP are teamed up in a bid for U.S. rural wireless telecoms service provider Alltel Corp., a source familiar with the matter said on Wednesday.
Irvine's New Century Financial Corp. is fighting a government bid to replace its executives with a bankruptcy trustee.
The U.S. Federal Reserve on Wednesday held benchmark interest rates steady at 5.25% for a seventh straight meeting and again said its main worry is that inflation will fail to moderate.
Irvine drug maker IDM Pharma Inc., which saw a big runup in its stock last month, gave back a big part of the gain Wednesday after regulators recommended against approving its bone cancer drug.
Tuesday, May 8
Santa Ana-based NNN Realty Advisors Inc.,parent company of real estate investor Triple Net Properties LLC,plans to raise up to $423 million in an initial public offering.
Canadian publisher Thomson Corp. is in talks to buy Reuters Group PLC for about $17.6 billion to create the world's biggest financial news and data company, the two firms said on Tuesday.
Hewlett-Packard Co. on Tuesday raised its forecast for second-quarter revenue and earnings, citing strong results from its personal computer and servers businesses.
Tyco International Ltd., which plans to split into three companies in coming weeks, reported lower quarterly earnings on Tuesday as restructuring costs reduced earnings, but results beat Wall Street expectations thanks to a low tax rate.
Irvine PC maker Gateway Inc. on Tuesday reported a smaller first-quarter loss than a year earlier amid a fall in sales.
Irvine-based BioLase Technology Inc. said Tuesday that it narrowed its first-quarter loss, but shares fell about 7% on the device maker's revenue decline.
Anaheim's Multi-Fineline Electronix Inc. said profits dropped 75% for the recently ended quarter on falling prices and weak sales to its biggest customer, Motorola Inc.
Monday, May 7
Broadcom shares took a beating after it gave a murky outlook for the current quarter, in the Technology column
A golf clothing maker is moving its headquarters to a bigger building in the Irvine Spectrum
Freedom Communications is handling its own direct mail production now, in the Media & Marketing column
Shares of Santa Ana-based Powerwave Technologies Inc. fell about 5% in afterhours trading after the company said it widened its loss for the first quarter on restructuring and other charges.
After Biosite accepted Beckman Coulter's revised bid last week, the ball's in Inverness' court
It's been only six months, but Bruce Fetter's already putting his touch on St. John Knits
The office complex that houses Del Taco's headquarters is up for sale again, in the Real Estate column
Tourism Convention Sparks Hope for Visitor Increase
Rupert Murdoch's News Corp. has sold its entire 7.5% stake in rival Australian company Fairfax Media for about $312 million, both companies said Monday.
This much is known: Maguire Properties Inc. is officially now the county's second largest office landlord, behind The Irvine Company.
Pacific Investment Management Co.'s two key executives re-upped their contracts for another two years
ABN AMRO rejected a $24.5 billion offer for its U.S. bank LaSalle from a consortium led by Royal Bank of Scotland, but said it would let shareholders express their views on the bank's next steps.
Downey Financial's short sellers are up against buyout hopefuls
Maguire Properties is looking to sell off more offices,buyers remain to be seen
You won't feel blue at Sapphire Laguna, in the Executive Dining column
Microsemi is starting to see the payoff of its latest buy
Alcoa, the world's largest aluminum company, said on Monday it would make a hostile bid for Canada's Alcan Inc., estimated at $27 billion, after talks between the rivals failed to lead to a deal.
Officials from IDM Pharma are scheduled to meet this week with an FDA panel, in the Healthcare column
The issue of healthcare has re-emerged with an even bigger "help wanted" sign in the windows of small-business owners across California
Los Angeles office vacancy declines while industrial space rises. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
OC auto dealers are the third largest employer in the county, in the Marketplace column
Los Angeles-based Riordan, Lewis & Haden is making a significant investment in Irvine employment agency CyberCoders as its first investment with a new fund
Outlaw Subprime Lending? No Way. Commentary by WILLIAM J. BATTISON, president of Angeles Capital Group LLC
A Lake Forest shopping center is finally opening its last phase after a slew of hurdles
Foothill Ranch-based Oakley Inc. is leasing an extra 290,000 square feet of warehouse space in Ontario at a complex being built by ProLogis.
Friday, May 4
Devax Inc., a Lake Forest-based medical device maker, said Friday it plans to raise up to $85 million in an initial public offering.
It looks like Irvine-based People's Choice Home Loan Inc. has found a buyer for its assets.
Reuters Group PLC said Friday that it had received a preliminary takeover approach, sending shares of the British news and financial information company soaring 25%.
Shares of Irvine-based Ista Pharmaceuticals Inc. fell sharply Friday after the company said its T-Pred topical steroid eye treatment received a "not approvable" letter from the Food and Drug Administration.
The U.S. economy added a modest 88,000 jobs in April, the slimmest gain in more than two years, and unemployment edged up, a government report showed on Friday, signaling a softening job market in a sluggish economy.
Microsoft Corp. has stepped up its pursuit of a deal to buy Yahoo Inc., two newspapers reported on Friday, as the two companies re-enter talks to strike a deal amid huge growth from rival Google Inc.
Thursday, May 3
Irvine-based chipmaker Broadcom Corp. said Thursday it's buying a privately-held maker of chips for digital home entertainment devices.
The number of U.S. workers filing new claims for jobless benefits fell unexpectedly by 21,000 to the lowest level of claims since January, a Labor Department report showed on Thursday.
Irvine-based New Century Financial Corp. said on Thursday it is laying off close to 2,000 workers, after the bankrupt subprime lender reportedly failed to receive any bids for its mortgage loan lending unit.
A Dutch court ruled on Thursday that ABN AMRO must freeze its $21 billion sale of U.S. unit LaSalle to Bank of America, opening up the possibility of a rival bid for the Netherlands' biggest bank.
Santa Ana-based data services provider First American Corp. on Thursday posted better than expected revenue and improved earnings from a year ago, although the company's core title business again saw a decline in profitability.
Luxury car maker BMW AG said Thursday its first-quarter profit dropped 38% as it spent more money on launching new models and because last year's figure included a one-time gain.
Aliso Viejo-based QLogic Corp., a maker of data storage and networking products, saw profit fall by about 42% for the quarter ended April 1.
Wednesday, May 2
Irvine-based Allergan Inc. said Wednesday that it swung to a first-quarter profit after recording a big loss a year earlier following its buy of Inamed Corp.
U.S. broadcaster Clear Channel Communications Inc. said on Wednesday it agreed to sell 362 radio stations for $820 million as it divests assets in accordance with its embattled $19.5 billion plan to go private.
Fullerton-based Beckman Coulter Inc., a medical testing company, said Wednesday that it upped its offer for Biosite Inc. to about $1.67 billion, or $90 a share, matching a rival bid from Massachusetts-based Inverness Medical Innovations Inc.
Dow Jones & Co. said on Wednesday its board decided to take no action on a $5 billion proposal by News Corp. to take the company private.
General Motors Corp.'s former finance arm, GMAC, posted a first-quarter loss on Wednesday as pressure on the U.S. mortgage market forced the company to take charges at its housing finance unit.
Shares of Santa Ana circuit board maker TTM Technologies Inc. soared some 30% in trading Wednesday after its earnings beat estimates.