Stories for April 2008
Wednesday, April 30
Securities regulators filed civil charges against two former executives at employment listings website Monster Worldwide Inc. on Wednesday for allegedly engaging in fraudulent stock options backdating, according to court documents.
General Motors Corp. on Wednesday posted a first-quarter loss due to a costly supplier strike, waning demand for its most profitable vehicles and charges related to struggling former subsidiaries, although results beat Wall Street expectations.
Santa Ana-based vocational school operator Corinthian Colleges Inc. reported March quarter revenue and profit before charges that surpassed Wall Street's expectations.
The Federal Reserve lowered a key interest rate by a modest quarter percentage point on Wednesday and hinted the move could be the last in a series dating to mid-September.
Shares of Costa Mesa-based clothing company Volcom Inc. opened up nearly 30% Thursday, a day after it reported big gains in first-quarter sales and profits and upped its outllook for the rest of the year.
Beckman Coulter Inc. on Wednesday reported first-quarter sales and profit prior to charges that exceeded Wall Street's expectations and upped its outlook for the rest of the year.
A buildup in inventories kept the economy afloat in the first quarter despite the weakest consumer spending since 2001 and the biggest drop in home building in more than 26 years, a government report showed on Wednesday.
Tuesday, April 29
The national economy is in for a long but shallow slowdown, according to California State University, Fullerton economists.
Countrywide Financial Corp., the mortgage lender being acquired by Bank of America Corp., on Tuesday posted a surprisingly large $893.1 million first-quarter loss, as it took more than $3 billion of charges for write-downs and bad loans.
Confidence among consumers fell to a five-year low in April as they confronted the grimmest jobs outlook since late 2004 and they expect inflation to rival the levels last seen in the early 1980s, the Conference Board said on Tuesday.
Newport Beach chipmaker Conexant Systems Inc. is selling its business making chips for set-top TV boxes for up to $145 million to NXP Semiconductors, the former chip arm of Royal Philips Electronics NV.
"Grand Theft Auto 4" went on sale Tuesday, with fans lining up at midnight to grab the first copies of the criminal action game hailed as a brutal and satirical masterpiece equal to films like "The Godfather."
SenoRx Inc., an Aliso Viejo maker of devices to diagnose and treat breast cancer, said Tuesday that a federal judge denied a request by Hologic Inc. for an injunction against it.
Shares of Irvine's Epicor Software Corp., a maker of business software, rose after first-quarter results fell in line with analyst's lowered expectations and the company gave a better-than-expected outlook for the back half of the year.
Monday, April 28
Executive departures, company shake-ups, an acquisition and other moves played out among this year's OC 50
Commercial construction dropped in the first quarter. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
The economic downturn affected employment agencies' revenue
M & M;'s candy maker Mars Inc. has teamed up with billionaire Warren Buffett to buy Wm Wrigley Jr Co., the world's largest chewing gum maker, for $23 billion, creating the world's largest confectionary company.
The war of words over Newport Beach-based SM & A; is heating up. The aerospace consultant is in the early stages of a board battle that pits founder and former chief executive Steven Myers against the company's current management and board.
Triple Net's Tony Thompson is trying to raise millions of dollars to buy distressed real estate in new company
Time will tell if Irvine chipmaker Broadcom is climbing out of a six-month slump on Wall Street
A couple of hotel projects could be in the works for Irvine
IPW Experience is trying to redefine a typical marketing campaign, in the Media & Marketing column
Shares of Santa Ana's STEC Inc., a maker of flash memory drives for industrial uses, jumped Monday after an analyst upgraded the stock.
No one in the Western media is showing any sympathy at all for China in the mess over Tibet and the Olympic Games
Genuine Parts plans to expand its Napa Auto Parts stores in OC, in the Marketplace column
Heidi Ueberroth, global business executive of the National Basketball Association, has stepped down as a director of Huntington Beach-based Quiksilver Inc. as she works on launching an NBA league in China.
An upscale convenience store chain is continuing its advance into Orange County, despite disappointing sales since its California launch
Fullerton's Motive Eyewear has been sold to StyleMark and is looking to consolidate its local operations
Irvine-based CompIQ Corp., a provider of workers' compensation claims services and software, is being bought for $22 million by Dallas-based Affiliated Computer Services Inc., a big provider of outsourced services for companies and governments.
A majority of the Tustin Legacy project has yet to see construction,that hasn't stopped some from calling the project a success, in the Real Estate column
Maguire Properties Inc.'s Chairman and Chief Executive Robert Maguire has proposed buying a majority of the company after selling off most of the office landlord's holdings,except for buildings in Orange County.
Union Bank is eyeing the rich with expansion plans for its priority banking program
The share of homes owned but empty edged up in the first quarter to a record high 2.9 percent, the U.S. Census Bureau said on Monday in a report adding more evidence of a deepening housing slump.
Laguna Niguel-based New Millennium Power has moved its staff to Long Beach after being bought by PermaCity Solar, in the Technology column
Analysts are highlighting medical diagnostic companies as standouts and predicting strong first-quarter financial results, in the Healthcare column
Consumers, banks and financial companies are "slimming down" after a bloated era of easy credit, but face an extended period of fixing their finances, Pacific Investment Management Co said in a new report.
A maker of high-end stoves and barbecues is moving manufacturing from Huntington Beach to Mexico
Profiles of Orange County's most influential businesspeople in Industry & Services
Small drug makers could see M & A; activity heat up
Profiles of Orange County's most influential businesspeople in Government & Institutions
Friday, April 25
An unexpected tax bill sent Honda Motor Co.'s quarterly profit tumbling 86 percent, and Japan's No.2 carmaker warned of a weak year ahead due to a stronger yen, rising materials costs and a soft U.S. car market.
Microsoft Corp. gave Yahoo Inc. no hope of a higher takeover price, saying it was ready to go hostile or even call off its bid if Yahoo maintains "unrealistic expectations" of a better deal.
Huntington Beach-based BJ's Restaurants Inc., an operator of pizzerias with beer breweries, slumped more than 11% at the close of New York trading Friday on an analyst's downgrade.
Costa Mesa-based body armor maker Ceradyne Inc. beat its first quarter earnings forecasts, but said flat revenue and higher costs lead to a 14% profit decline from a year ago.
Shares of Lake Forest-based disk drive maker Western Digital Corp. were off more than 9% at the close of New York trading Friday on concerns about falling drive prices and the impact on profits.
Consumer confidence fell for a third straight month in April, hitting its weakest in 26 years, on heightened worries over inflation and the sagging housing market, a survey showed on Friday.
Thursday, April 24
Shares of Santa Ana's Ingram Micro Inc., the world's top distributor of technology goods, slightly fell in afterhours trading Thursday after the company gave a worse-than-expected outlook for the current quarter.
The economy could improve slightly in the second half of 2008 after a challenging first half, and there are some encouraging signs in the credit markets, a senior Treasury Department official said on Thursday.
The engineering school at the University of California, Irvine, on Thursday named a new dean to replace Nicolaos G. Alexopoulos, who said he's retiring from the post and taking a job at Irvine's Broadcom Corp.
Shares of Costa Mesa-based Emulex Corp., a maker of electronics for data storage networks, fell in afterhours trading Thursday after the company gave a weak outlook for the current quarter.
obless claims fell sharply last week and durable goods orders showed resilience in March but new home sales plummeted, according to data on Thursday that delivered mixed news on the struggling economy.
Ford Motor Co. posted an unexpected quarterly profit on Thursday, led by strong results in Europe and South America and a narrowing loss in North America, sending its shares up nearly 8 percent.
Wednesday, April 23
Boeing Co. reported a greater-than-expected 38 percent jump in first-quarter profit on Wednesday as increased deliveries of its commercial planes offset a dip in military sales, and manufacturing operations became more efficient.
Mortgage applications plunged last week, largely reflecting a drop in demand for home refinancing loans as interest rates surged, an industry group said on Wednesday.
Shares of Irvine heart valve maker Edwards Lifesciences Corp. were up more than 13% at the close of New York trading after it received a pair of analyst upgrades and improved its financial guidance.
Shares of Anaheim printed circuit board maker DDi Corp. jumped in afterhours trading Wednesday after the company reversed a loss in the first quarter.
Shares of Irvine-based communications chipmaker Broadcom Corp. continued their bullish run on Wednesday after the company gave a positive outlook for the current quarter.
General Motors Corp. said on Wednesday its global sales fell 0.6 percent in the first quarter, after a 10 percent decline in North America more than offset increased sales elsewhere in the world.
Tuesday, April 22
Milwaukee-based Rockwell Automation Inc. is buying Incuity Software Inc., a Mission Viejo maker of manufacturing software.
Irvine chipmaker Broadcom Corp. has agreed to pay $12 million to settle civil charges that it illegally backdated stock options for five years up to 2003, according to the Securities and Exchange Commission.
The pace of existing home sales fell in March to a 4.93 million-unit annual rate, the National Association of Realtors said on Tuesday in a report that showed the housing market continues to struggle.
Shares of Irvine's Broadcom Corp. rose in afterhours trading Tuesday after the chipmaker reported better-than-expected quarterly results.
McDonald's Corp. said on Tuesday U.S. sales at established restaurants fell in March, the first monthly decline in five years, overshadowing higher-than-expected first-quarter profit and strong overseas sales.
Shares of Newport Beach-based thrift operator Downey Financial Corp. rose as much as 10% on Tuesday, a day after reporting a $248 million first-quarter loss.
A large chunk of the Irvine Ranch got a environmental honor on Tuesday, as it was designated as the first-ever California Natural Landmark.
New York Times Co Chairman Arthur Sulzberger Jr told shareholders on Tuesday the company is not for sale, disputing media reports.
Edwards Lifesciences Corp. said Tuesday that its first-quarter profit fell 45% on charges primarily related to a product line sale.
The battle for control of Corona-based Vineyard National Bancorp's board has gotten hotter.
Monday, April 21
Venture capital firms invested $144 million into young local companies during the first quarter,the highest amount in two and a half years.
Avanir Pharmaceuticals Inc., an Aliso Viejo drug developer, said Monday it has regained compliance with Nasdaq listing requirements.
Fremont Sells Assets To CapitalSource, Keeps Loan Servicing Unit
Businesses need to take the lead in the immigration debate. By Jerry Sullivan, editor and publisher of the Garment & Citizen
The Irvine Company has found a big-name financial tenant to occupy half the space at the office it is building along Pacific Coast Highway in Newport Center.
Some thought that with an OC exec at the helm, Ev3 might relocate,think again
The Cannery's guest chef program was a hit when Lawry's took part, in the Executive Dining column
Conexant's executive shake-up last week could have come down to a clash over how to proceed with a turnaround
A maker of guys' clothing has seen more exposure after tapping a professional surfer to promote the line
Real estate is the latest industry that's expected to benefit from a large number of Americans getting ready to hit their senior citizen years,
A maker of sensors nabbed more clients after the 2001 terrorist attacks, in the Small Business column
Parker Kennedy: Class Act, 'Last Emperor' Of First American
Fletcher Jones and Newport Lexus are weathering the economic downturn, in the Marketplace column
Expect to see several of Orange County's surfwear makers at the Action Sports Retailer tradeshow next month, in the Media & Marketing column
Bank of America Corp., the second-largest U.S. bank, on Monday said quarterly profit fell 77 percent, hurt by more than $5 billion of write-downs and credit-related costs as more borrowers fell behind on payments.
People close to New York Mayor Michael Bloomberg are encouraging him to buy the New York Times Co. and save the company from shareholder assaults, while members of its controlling family are interested in a rescuer, according to media reports.
Citigroup Inc's. lack of earnings power could put the bank under pressure to cut or eliminate its current dividend and raise additional capital, said Oppenheimer & Co. analyst Meredith Whitney, as she widened her loss per share forecast on the bank.
What's the most misleading statistic in the commercial real estate market these days,probably asking lease rates for offices, in the Real Estate column
Funding in chip startups declined last year, in the Technology column
BNY Mellon is taking half the space at The Irvine Company's Corporate Plaza West in Newport Center
Friday, April 18
Shares of San Clemente-based medical device maker ICU Medical Inc. fell Friday, a day after the company reported lower than expected first-quarter results.
The Federal Bureau of Investigation's probe of the subprime mortgage industry could uncover fraud involving Wall Street investment banks, private equity firms or hedge funds, the head of the agency said on Thursday.
Orange County continued a streak of yearly job losses in March as 21,300 fewer people were employed here from a year earlier.
Wall Street jumped Friday as results from companies like Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits. The Dow Jones industrial average at times rose more than 200 points.
The latest twist for former Broadcom Corp. chief executive Henry Nicholas: the technology billionaire is said to be in rehab, according to the Orange County Register.
James Hardie Industries NV, an Australian turned Dutch maker of building products, is shifting its headquarters to the U.S. where it's operations are run from Mission Viejo, according to a report in The Australian newspaper.
Citigroup Inc. posted its second straight quarterly loss on Friday, hurt by more than $16 billion of write-downs and costs related to credit losses, and said it will cut another 9,000 jobs.
Thursday, April 17
Huntington Beach surfwear maker Quiksilver Inc. said on Wednesday that it has won a nearly six-yearlong trademark infringement case over its Roxy brand of clothes against Los Angeles-based Kymsta Corp.
Shares of Irvine's Epicor Software Corp., a maker of business software, slumped Thursday after the company cut its yearly outlook on weaker-than-expected first quarter results.
The number of workers applying for unemployment benefits rose by 17,000, which was marginally less than expected, while those of workers remaining on jobless benefits were at the highest level in almost four years, a government report showed on Thursday.
Merrill Lynch & Co. on Thursday posted a quarterly loss of $2 billion and said it planned to cut 4,000 jobs after recording more than $9.5 billion in write-downs and losses on subprime mortgages and other risky assets.
Banks have become so wary about lending that credit costs are being pushed up despite sharp cuts in official interest rates and that is adding to the risks of an economic downturn, the vice chairman of the Federal Reserve said on Thursday.
The value of the Los Angeles Angels of Anaheim baseball team has risen 16% in the past year to $500 million, according to Forbes.
Wednesday, April 16
The number of housing projects started last month fell to the lowest in 17 years, while consumer prices moved up a bit less than expected, leaving the Federal Reserve some room to lower interest rates to ward off a housing-led slowdown.
Lake Forest-based disk drive maker Western Digital Corp. cut prices for laptop drives in the first quarter in a market share battle with Hitachi Ltd., according to Bill Watkins, chief executive of top drive maker Seagate Technology LLC.
JPMorgan Chase & Co. said on Wednesday quarterly profit fell 50 percent, but the third-largest U.S. bank was able to skirt the massive losses that have crippled many rivals, and its shares rose as much as 5 percent.
Orange County's biggest deal yet got the green light from the European Union on Wednesday.
Investment bank Merrill Lynch & Co. will announce $6 billion to $8 billion of asset write-downs in its first quarter results on Thursday, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter.
Lake Forest-based InSight Health Services Holdings Corp. said it completed the sale of five Southern California medical imaging centers to Los Angeles-based RadNet Inc.
Tuesday, April 15
Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.
Johnson & Johnson posted better-than-expected first-quarter earnings on Tuesday, sending its shares higher, as aggressive cost cutting helped offset plunging sales of anemia drugs hit by safety concerns and medicines facing generic competition.
Orange County's median home price tumbled by $14,000 from February to March, aided by the increase in discounted sales of foreclosed homes that's being seen across the Southland.
Inflation at the wholesale level soared in March at nearly triple the rate that had been expected as the costs of energy and food both climbed rapidly.
Santa Ana's STEC Inc., a maker of flash memory drives for industrial uses, is being sued by the top maker of disk drives, Seagate Technology LLC.
Shares of Newport Beach-based Conexant Systems Inc. and Costa Mesa's Emulex Corp. fell sharply Tuesday on analyst downgrades for the technology companies.
Monday, April 14
Aliso Viejo Golf Takes Private Route; Chris' New Gig
Shares of Tustin-based Cherokee International Corp., a maker of power supply gear for medical devices, fell Monday after the company said it hired an investment bank as an adviser.
Newport Beach chipmaker Conexant Systems Inc. on Monday announced a sudden change for its top post,the company's second chief executive shake-up in a year.
Property Managers Saw Little Growth in OC Contracts, Lost Business Outside of County
Brokerages Reported Increase in Sales, Leases Carried by Activity in First Half of 2007
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Anaheim GardenWalk is gearing up for its grand opening, in the Marketplace column
UnitedHealth has taken a few blows from patients, regulators and doctors, in the Healthcare column
Kaiser Permanente's readying to open a hospital in Irvine and gearing up for construction in Anaheim
Market researcher Gartner has pegged virtualization as the biggest trend through 2012, in the Technology column
Irell & Manella has named a woman partner to head its Newport Beach office
Brea-based Fremont General Corp., a onetime subprime mortgage lender that's struggled to survive as a bank, is selling branches, deposits and its stake in commercial real estate loans, the company said Monday.
The Northern American computer unit of Toshiba Corp. has prevailed in an area few have dared to tread: taking on patent holder Acacia
Analysts are divided over what's the best types of property investments these days, in the Real Estate column
Yahoo Inc.'s attempt to form an alliance with Google Inc. to stave off Microsoft Corp. could run into more trouble with antitrust regulators than Microsoft's unwelcome takeover bid.
A slew of big contracts has Fluor looking to hire more workers here
Santa Ana-based First American Corp. on Monday announced a shake-up to its board, based on the recommendations of its largest unaffiliated shareholder.
Wachovia Corp. posted a surprising first-quarter loss on Monday as credit problems from mortgages and other debt soared, prompting the fourth-largest U.S. bank to raise $7 billion of capital, slash its dividend and cut jobs.
A former telecom executive is heading the county's biggest software makers
Fremont's options are few as it faces a looming deadline
Retail sales unexpectedly rose 0.2 percent in March, pushed up by a jump in gasoline sales, a government report released on Monday showed.
Igor Olenicoff, founder and president of Newport Beach-based real estate company Olen Properties Corp., was spared prison time in the conclusion of the billionaire's long-running tax dispute with the government.
Fountain Valley-based Kingston Technology is said to be buying a stake in an Asian chip supplier
W.B. Doner hired an executive to help go after more work, in the Media & Marketing column
Lake Forest-based L*Space has started a jointly owned company with the owners of C & C; Partners
Friday, April 11
Wall Street's love affair with disk drive makers might be coming to an end. Investors had been up on the stocks until recently, when both Lake Forest-based Western Digital Corp. and top rival Seagate Technology LLC have seen downgrades.
Gasoline supplies should start the summer driving season at their highest level since 1999, helping to temper a surge in pump prices linked to the soaring cost of crude oil.
Auto lender Consumer Portfolio Serves Inc. of Irvine has sold $310 million in subprime auto loans to Wall Street in its first securitazation since November.
Citigroup is eyeing a sale of its retail business in Germany as part of a global reorganization of the loss-making U.S. group, sources familiar with the matter have told Reuters.
General Electric Co. posted an unexpected 6 percent drop in first-quarter profit on Friday, the biggest shock yet to industry from the credit crisis and the latest sign the economy may be in a recession.
TriZetto Group Inc., a Newport Beach-based medical information technology company, said Friday it's being bought for $1.4 billion by Apax Partners Inc., a private equity investor.
Thursday, April 10
An early Easter holiday, chilly weather and recession-wary consumers combined to deliver dismal March sales results for retailers.
The number of workers applying for unemployment benefits tumbled by a greater-than-expected 53,000 last week, but a closely watched moving average of claims was at its highest in two and a half years, a government report showed on Thursday.
Ista Pharmaceuticals Inc. has received a subpoena from the U.S. Attorney's office in Buffalo, N.Y., requesting documents about its flagship Xibrom drug, according to a statement released Thursday.
Yahoo Inc, which was widely believed to be running out of alternatives to accepting Microsoft Corp's takeover offer, has become a target of two warring camps of technology giants and their media allies, sources said on Wednesday.
Orange County's two major mall retailers, Anaheim's Pacific Sunwear of California Inc. and Foothill Ranch-based Wet Seal Inc., saw drops in March same-store sales that went beyond Wall Street expectations.
Fitch Ratings on Thursday cut its credit ratings on Santa Ana-based First American Corp., noting significant deterioration in the company's capital during the housing and mortgage downturn.
Wednesday, April 9
Nationwide Health Properties Inc. saw its shares fall Wednesday after an analyst said the stock's risen to a fair value.
The Bush administration will loosen rules that underpin the largest homeowner aid program in order to help more borrowers who have seen their home drop in value and are facing foreclosure, a senior administration official said on Wednesday.
The economy will tip into recession this year and there is a 25 percent chance world growth will drop to 3 percent or less -- a level that would be considered recessionary, the International Monetary Fund said on Wednesday.
Shares of Santa Ana-based vocational school operator Corinthian Colleges Inc. closed down Wednesday after an analyst downgraded the stock on concerns about student loan defaults.
Citigroup Inc., the largest U.S. bank, is close to selling about $12 billion of leveraged loans and bonds to a group of private equity firms, people familiar with the situation said on Tuesday.
Tuesday, April 8
QLogic Corp., the Aliso Viejo-based maker of electronics for data storage networks, nabbed a new chief financial officer from Newport Beach chipmaker Mindspeed Technologies Inc.
Irvine-based Entrepreneur Media Inc., publisher of Entrepreneur magazine, is reported to be up for sale for around $200 million.
San Juan Capistrano-based American Mold Guard Inc. is calling it quits after going public a year and a half ago.
Washington Mutual Inc, the largest U.S. savings and loan, said on Tuesday it obtained a $7 billion capital injection from private equity firm TPG Inc and other investors, but that mortgage problems will lead to a $1.1 billion quarterly loss and the elimin
Pending sales of previously owned homes fell a bigger-than-expected 1.9 percent in February to the lowest level on record, according to a report from a real estate trade group on Tuesday that pointed to more troubles in the beleaguered housing market.
Shares of Anaheim-based retailer Pacific Sunwear of California Inc. were up about 8% in late morning New York trading after an analyst raised his profit forecast and said the company is improving its merchandise and getting more efficient.
Former Federal Reserve Chairman Alan Greenspan has lashed out again at his critics, saying he was being blamed unfairly for the credit crisis and that he had no regrets about decisions he took while at the helm.
Monday, April 7
Apria Healthcare Group says it's prepared for Medicare cuts
Some borrowers are walking away from home loans even when they can pay them
Rutan & Tucker is growing its intellectual property practice
Avanir plans to use $40 million from the sale of shares for a drug trial, in the Healthcare column
A senior UBS employee was briefly detained by U.S. authorities in April as part of an investigation into the bank's cross-border business, UBS said on Wednesday.
Ingram Micro, the largest distributor of technology products, has been bracing for a slowdown.
Novartis AG has agreed to buy Nestle AG's 77 percent stake in U.S. company Alcon in a deal worth up to $39 billion to boost its eye care business, the Swiss drugmaker said on Monday.
The top public companies here saw their first loss since 2002
PCA Aerospace has sold its headquarters in a sale-leaseback deal, in the Real Estate column
A report on accounting issues at New Century Financial Corp. could become part of a criminal probe
Ev3 Inc., a medical device maker with some 400 workers in Irvine, said Monday its chief executive is being replaced by a local industry veteran.
Execs Less Pessimistic Going Into Q2. Leaders still cautious, see good things for own companies
The company's dominant business selling machines and supplies to hospitals and medical testing labs helped drive higher sales and profits
Sprint Nextel Corp. is teaming up with top U.S. cable companies to introduce advanced wireless services and get a head start on AT & T; and Verizon, but analysts said the seven-way partnership may be too complex to succeed.
A Gartner report predicts 2008 PC sales to be up 11%, in the Technology column
Cleaning up ski wreck Rossignol. Quiksilver spent the past year looking for ways to improve Rossignol, the ski maker it bought in 2005, and calming Wall Street's concerns
Sun spent 2007 widening its reach around the country... bought Harborside Healthcare Corp., a Boston-based company, for $350 million
Real Estate Watch: Mid-counties hold up pace in the fourth quarter. PLUS: CHART - Net Absorption; Vacancy Rates; Average Asking Lease Rates
The Lake Forest home healthcare provider went back to one of its old standbys at the end of 2007,growing through a deal
The credit crisis is easing and the risk in its housing market is dramatically lower now, but economic growth will remain under pressure over the next year, the chief executive of Merrill Lynch & Co. said.
Anaheim-based Alliance Imaging Inc. said Monday that it bought six radiation surgery centers in California and four other states from Accuray Inc., a Sunnyvale device maker.
Tesco is slowing its Fresh & Easy expansion amid disappointing sales, in the Marketplace column
Shares of Costa Mesa's Emulex Corp., a maker of electronics for data storage networks, fell Monday after an analyst downgraded the stock.
Fullerton is watching what Beckman Coulter will do with its soon-to-be-empty headquarters
Dulcinea Farms hopes customers will pay more for better fruit, in the Small Business column
Western Digital Corp. has been on a tear the past year...growing sales from laptop PCs and external storage devices for businesses and consumers.
Standard Pacific, the country's 11th largest homebuilder by sales during the housing boom, had a year to forget in 2007.
Mossimo Giannulli has big plans for Paul Frank Industries
Delta Air Lines and Northwest Airlines have revived merger talks, according to a report in The Financial Times.
The housing market slump and crash of the mortgage market took their toll on Orange County's oldest company
2007 was big for Broadcom, which posted the largest options restatement bill of any company, won several legal rounds against Qualcomm Inc. and then slumped late in the year
Yahoo Inc., responding to a three-week deadline issued by Microsoft Corp. to accept its $42 billion takeover bid, again rejected the deal for undervaluing the Web pioneer.
Orange County's most valuable company by market value spent 2007 continuing its march into medical cosmetics, through its steady flagship drug Botox
New business helps ChopShop grow workers, in the Media & Marketing column
Friday, April 4
Employers cut payrolls for a third consecutive month in March and the jobless rate jumped to a 2-1/2 year high, adding more evidence that a housing downturn and credit crisis may have pushed the economy into recession.
2007 was a transition year for Orange County's largest public companies as the expansion of the past few years met the slowed economy of today.
Pressure on beleaguered Swiss bank UBS AG to break up intensified as activist investor and former chief executive Luqman Arnold demanded to shake up its governance and structure.
For the second time this week, a senior Federal Reserve official conceded the economy could slip into recession, but suggested the central bank should wait to see if more rate cuts are needed.
Advanced Medical Optics Inc. got a boost Friday from a Jefferies & Co. analyst who said that laser vision surgeries using the company's equipment are holding up in spite of a slow economy.
Thursday, April 3
Federal Reserve Chairman Ben Bernanke on Thursday repeated remarks justifying the government's financial market rescue and acknowledging tough economic conditions, but did not mention economic recession or contraction in prepared testimony.
The service sector contracted less than expected in March, according to a report released on Thursday.
Lake Forest-based nursing home operator Skilled Healthcare Group Inc. said Thursday that it spent $13.2 million to buy two facilities in Wichita, Kan.
A San Diego chipmaker led by a former executive at Irvine's Broadcom Corp. is moving to Orange County.
The number of workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005 and reinforcing fears that the economy has stalled, government data on Thursday showed.
IBM Corp. has completed its acquisition of Sweden's Telelogic AB, a software maker that has its U.S. headquarters in Irvine.
Wednesday, April 2
A shuffling of Boeing Co.'s local leadership has put some new faces on its intricate org chart.
Shares of Ista Pharmaceuticals Inc., an Irvine eye drug developer, continued to plunge on Wednesday, a day after the company said that clinical trial results for a new version of its flagship Xibrom drug were disappointing.
Fannie Mae, the largest U.S. home funding company, told lenders on Monday that it will require a minimum credit score for loans it buys on an individual basis.
Lehman Brothers, the investment bank that raised $4 billion this week to shore up its capital and calm investors' nerves, is looking at expanding its business in China, an executive said on Wednesday.
Federal Reserve Chairman Ben Bernanke said on Wednesday the economy could face a mild recession but that growth should pick up as the impact of aggressive interest rates cuts are felt.
Tuesday, April 1
Lehman Brothers Holdings Inc, an investment bank beset by rumors of not having enough funding, said it plans to raise $3 billion of capital to quash questions about its stability.
Newport Beach-based farm chemical maker American Vanguard Corp. said Tuesday that bad Midwest weather could cause first-quarter results to fall short of last year's levels.
New Jersey's Russ Berrie and Co. is acquiring Costa Mesa-based baby bedding maker CoCaLo Inc. for $16 million, the company said Tuesday.
UBS and Deutsche Bank took a $23 billion hit on their risky assets and the Swiss bank asked investors for more cash on Tuesday, but Europe's bank shares rallied on hopes that the end of another torrid quarter could mark a turning point.
Costa Mesa-based body armor maker Ceradyne Inc. has won a $41 million Army contract.
Cisco Systems Inc., the biggest maker of network equipment, said sales of its high-end routers accelerated in the past several months despite worries that a slower U.S. economy was hurting technology spending.