Stories for June 2008
Monday, June 30
Action Pursuit Group has a new chief, in the Media & Marketing column
DC Shoes may have lost PacSun business,but it's beefing up sales through other retailers
Newport Beach-based Downey Financial Corp. said Monday that President Frederic McGill left after eight months with the savings and loan operator.
Longer term Treasury bond yields have bottomed and will steadily rise because of inflation pressures in the aftermath of the ongoing economic downturn, the manager of the world's biggest bond fund wrote on Monday.
Everything from guitars and clothes to weapons and medical devices are made here.
The next round of consolidation among real estate brokerages is under way, in the Real Estate column
An online advertising startup is using its technology to try and drum up business in this year's presidential election, in the Technology column
7-Eleven is ramping up its efforts to convert mom and pop stores, in the Marketplace column
Allergan is holding its own in the cosmetic medical market, in the Healthcare column
Specialized Marketing Services is consolidating its headquarters into one Santa Ana building, in the Small Business column
There could be life after options for Broadcom cofounder Henry Samueli
Moreno, Pringle Smile,for Cameras; Chris Cox's Side
Office leasing still is slow in Orange County, but don't blame area's more estab-lished employers for the stagnant market
A maker of dental and personal care products is moving manufacturing to the county
Tax preparer H & R; Block Inc. said on Monday it swung to a quarterly profit from a loss, beating estimates and driving the stock 6.6% higher, as revenue rose 11%.
The home healthcare industry, which counts Lake Forest's Apria Healthcare Group Inc. as one of its leaders, lost a legal fight Monday when a federal court upheld Medicare's plan to put in a competitive bidding plan for oxygen tanks and other durable medic
Boeing led a decline in hiring among the county's top defense and aerospace companies
Business activity in the Midwest contracted in June for a fifth straight month but at a less severe rate, even as production and new orders both slipped, a report showed on Monday.
West Orange County industrial continues to hold the momentum of previous quarters
Friday, June 27
Santa Ana-based Grubb & Ellis Co. said it will respond to former chairman Tony Thompson's request for a board seat "in due course."
Consumer spending jumped last month as stimulus checks boosted household budgets and pushed the saving rate to the highest level since 1995, but another report released on Friday showed confidence took a hit.
There could be life after options for Henry Samueli. The cofounder, former chairman and ex-technology chief of Broadcom Corp. could end up regaining standing as one of the county's top businesspeople and philanthropists, observers say.
KB Home, the fifth largest home builder, posted a deeper quarterly loss on Friday on tumbling revenue as the U.S. faced its deepest housing slump in decades.
An analyst cut his earnings projections for Santa Ana-based title insurer First American Corp. and its key rival amid the ongoing housing and mortgage slump.
Stocks slumped again Friday after a sharp dive in the previous session, with investors anxious about a new oil price record and dubious that personal income and spending will remain resilient.
Thursday, June 26
Lennar Corp., the second-largest home builder, on Thursday reported a bigger-than-expected quarterly net loss as deliveries and new orders tumbled, sending its shares down nearly 5%.
Irvine chipmaker Broadcom Corp. saw another analyst start following the stock late Wednesday, showing how Wall Street is more concerned about the company's growth prospects than the legal troubles of its cofounders.
Tony Thompson, the former chairman of Santa Ana-based Grubb & Ellis Co., said on Thursday he's unhappy with the real estate investor and brokerage's performance and is seeking re-appointment to the company's board.
The economy grew slightly faster than initially thought in the first quarter, while the job market remained sluggish last week, according to data released on Thursday.
Italian defense manufacturer Finmeccanica SpA's recent $4 billion acquisition of U.S. defense company DRS Technologies Inc. was a big one, but it is not the last one.
Wednesday, June 25
The Federal Reserve is expected to hold interest rates steady on Wednesday, while indicating slightly greater unease on inflation though stopping well short of signaling higher borrowing costs are imminent.
Boeing Co. shares fell to a two-year low on Wednesday after Goldman Sachs cut its rating on the plane maker and defense company to "sell" from "neutral," reflecting falling orders, problems facing airlines and high fuel prices.
MasterCard Inc., the world's second-largest credit-card network, said on Wednesday it will pay American Express Co. up to $1.8 billion to settle a lawsuit that said MasterCard and Visa blocked banks from issuing cards from their rival.
Santa Ana's TTM Technologies Inc., a maker of printed circuit boards, said Wednesday it won an $8 million contract from a big defense company.
The Federal Reserve, navigating treacherous economic waters, decided on Wednesday to leave a key interest rate unchanged, bringing an end to a string of consecutive rate cuts.
The price of an existing Orange County home fell 9.4% in May from April, while the increased volume of distressed homes on the market helped push area sales by nearly 30% during that time, the California Association of Realtors said on Wednesday.
Tuesday, June 24
A Texas venture capital firm has pledged $50 million toward the start of an Orange County-based holding company that's set to buy online media businesses.
Santa Ana-based Advanced Medical Optics Inc. and Alcon Inc., which employs more than 670 people in Irvine, signed a patent cross-licensing deal related to eye lenses implanted during surgery.
The Orange County economy will continue to shrink through the end of the year, according to Chapman University's annual economic forecast update on Tuesday.
The National Hockey League suspended Anaheim Ducks owner Henry Samueli from being involved with the team after the billionaire pleaded guilty on Monday to lying to federal investigators about his involvement in stock options backdating at Irvine chipmaker
Dow Chemical Co., the biggest chemicals manufacturer, said on Tuesday it will boost its prices by as much as 25%, institute freight surcharges and cut output of some products because of soaring energy prices.
United Parcel Service Inc. shares fell 4.6% on Tuesday to their lowest point since late 2003, the morning after the world's largest package-delivery company cut its second-quarter profit outlook citing high fuel costs and a weak economy.
Shares of Irvine-based Quality Systems Inc. fell Tuesday after the company said Chief Executive Lou Silverman will resign in August.
Consumer sentiment slid to a 16-year low in June while house prices suffered record annual drops in April, according to data on Tuesday that suggested a retrenchment in spending that will keep squelching economic growth.
Monday, June 23
Mid-Cities Bucks Trend As Sales and Leases Accelerate
Big changes are playing out at Entrepreneur Media, in the Media & Marketing column
SunCal projects were part of Lehman Brothers' big quarterly loss, in the Real Estate column
A Santa Ana maker of pollution control equipment for power plants is doubling the size of its local manufacturing operations
Laguna Beach-based Montage Hotels & Resorts is set to open a Beverly Hills hotel
Foothill Ranch-based Kaiser Aluminum Corp. said Monday it is investing $19 million to expand its Tennessee plant.
TECHNOLOGY - Epicor's chief executive likens his management style to former basketball coach Bobby Knight
Newport Beach chipmaker Conexant Systems Inc. said Monday it's adding two directors to its board, one of them a Western Digital Corp. veteran.
Dana Point Harbor is looking to lure more businesses and visitors
Santa Ana's SRS Labs signed a licensing deal to get its technology into a TV by Irvine- based Vizio, in the Technology column
Raj Manufacturing is diving into luxury with its latest line of swimsuits
Julie's Gal Tops John's Guy; Here Comes Tom Campbell
An FDA panel of eye care experts has called for the beefing up of oversight of contact lenses and solutions, in the Healthcare column
Mark Mueller asks executives with some of OC's largest developers, owners, investors and brokers of commercial space and land for their opinions on the state of the market and what to expect in the next year.
Disney lovers, get ready for the "Toy Story" ride at Disney's California Adventure theme park
One of the county's oldest makers of business software is on a hiring streak
Ernst & Young's Irvine office has a new local leader,again
Power Honda Costa Mesa will be one of a few dealers leasing Honda's hydrogen car, in the Marketplace column
Fighting Mortgage Backlash. Solving California's mortgage crisis will require several things
Advanced Medical says it's making progress on its turnaround
Banc of America Securities expects Merrill Lynch & Co. and UBS AG to write down $3.5 billion and $7 billion respectively in the second quarter and forecast a quarterly loss for the investment banks.
The latest on OC's dining scene, in the Executive Dining column
Citigroup Inc. plans to cut thousands of trading and investment banking jobs this week, part of previously reported plans to slash about 10% of its investment bank division, a person familiar with the situation said on Monday.
Republic Services Inc. said on Monday it would buy Allied Waste Industries Inc. for about $6 billion in stock, merging the second and third-largest U.S. waste-disposal and environmental services companies.
Broadcom Corp. cofounder Henry Samueli is set to plead guilty Monday afternoon to one criminal charge related to the probe of stock options backdating at the chipmaker.
Friday, June 20
Orange County's yearly job losses continued in May, while employment picked up slightly from April.
Santa Ana-based Powerwave Technologies Inc., a maker of equipment for wireless networks, is looking to close a Maryland plant, according to a local newspaper.
Ford Motor Co. said on Friday it would slash production and delay the launch of a new version of its top-selling F-150 pickup truck due to a deepening slump in U.S. sales that will weigh on results this year and next.
Oil futures rebounded Friday as Pentagon officials said a large scale Israeli military exercise in the eastern Mediterranean early this month was intended in part as a demonstration of Jerusalem's ability to attack Iranian nuclear facilities.
Merrill Lynch & Co. shares fell 5.5% Friday on rumors that the investment bank may issue a profit warning and take additional write-downs on its mortgage holdings, traders said.
Marion Newbert Jorgensen, a Southern California philanthropist and mother of The Irvine Company's Donald Bren, died Wednesday at Saint John's Health Center in Santa Monica. She was 96.
Thursday, June 19
San Clemente-based hotel owner Sunstone Hotel Investors Inc. has hired a president who's set to become chief executive a year from now.
Circuit City Stores reported a bigger quarterly loss on Thursday as sales fell, and the consumer electronics chain said it had suspended its dividend to save cash, sending its shares down about 3%.
Two former Bear Stearns hedge fund managers were arrested and indicted on securities fraud charges on Thursday following a federal criminal probe into the collapse of two funds they oversaw.
Lake Forest-based home healthcare provider Apria Healthcare Group Inc. is being bought and taken private by private equity investor Blackstone Group LP in a deal valued at $1.6 billion.
China announced a surprise increase of about 18% in retail gasoline and diesel prices effective from Friday, state media said.
Irvine chipmaker Broadcom Corp. said Thursday it added two directors to its board.
Carlsbad-based sunglasses maker Dragon has been bought out from Oakley Inc. of Foothill Ranch.
Wednesday, June 18
Former subprime mortgage lender Fremont General Corp. of Brea said regulators have approved the sale of its bank deposits, branches and other assets to Maryland's CapitalSource Inc.
President George W. Bush on Wednesday called on Congress to end a decades-old ban on offshore oil drilling.
Pfizer Inc. said on Wednesday that Ranbaxy Laboratories Ltd. can begin selling a U.S. generic form of its Lipitor cholesterol fighter by late 2011 under a settlement deal, some five months later than Wall Street expectations.
Many Americans will forgo vacations and dine in more often to combat soaring fuel prices, while 1 in 10 are rethinking where they live or work, according to a Reuters/Zogby poll released on Wednesday.
Credit rating company Moody's Corp. is reviewing ratings for Huntington Beach-based Quiksilver Inc. for a possible downgrade as the clothing maker tries to sell its ski gear business.
Tuesday, June 17
Internet media firm Yahoo Inc. said on Tuesday that its mobile search service will be offered by six more telecom companies in Asia.
The Federal Reserve, European Central Bank and Bank of England on Tuesday all dampened expectations for aggressive interest rate rises to counter rising inflation, sending global stocks and bonds surging in relief.
Goldman Sachs Group Inc. said quarterly earnings fell 11% as turmoil in financial markets hit trading and slowed investment banking, yet the firm again exceeded expectations by avoiding major losses on assets slammed by the credit crisis.
Two former executives of Irvine-based Epicor Software Corp. have started an investment company with backing from two big private equity investors to buy and combine business software makers.
Allergan Inc., an Irvine drug maker, said Monday that the Food and Drug Administration approved a drug to treat retinal disease.
Irvine chip startup Solarflare Communications Inc. has raised $26 million in a round of venture funding, bringing its total raised to $126 million.
Monday, June 16
The pace of home sales in Laguna Beach and Newport Beach slowed in 2007, in the Real Estate column
The new publisher of Riviera Magazine is looking to a beefed-up sales department and an online edition to weather the downturn, in the Media & Marketing column
Prosecutors are preparing to file criminal charges against managers of two Bear Stearns hedge funds whose collapse helped kick off the credit crisis last year, the Wall Street Journal reported on Monday.
Kingston is working out its solid state flash drive plans, in the Technology column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
A Newport Beach developer says he is close to bringing a high-end hotel to one of the busiest intersections in Whittier
The man behind one of the country's largest black-owned real estate investment firms has started a venture in Irvine
Los Angeles-based landlord Maguire Properties Inc. plans to sell the sprawling Park Place campus in Irvine, its best-known Orange County property, the company said on Monday.
Investing by local venture capital firms dropped last year
STEC doesn't seem at all threatening,but it's on the radar of the biggest disk drive makers.
Investment bank Lehman Brothers Holdings Inc. posted a quarterly loss of $2.8B on Monday, matching its forecast, after recording massive trading and hedging losses.
Grubb & Ellis' healthcare unit bought the former PacifiCare office building
Fenix Cosmetics has carved its niche in the cosmetics industry with a line of products for sensitive skin, in the Small Business column
Edwards Lifesciences didn't miss the chance to bend the ear of a rising political leader this month, in the Healthcare column
The largest accounting firm operating in the county has a new managing partner
Technology and legal types are abuzz over federal fraud and drug charges against Broadcom cofounder Henry Nicholas
Clothing maker Affliction is moving its headquarters to Seal Beach
Broadcom Corp. cofounder Henry Nicholas pleaded not guilty Monday in Santa Ana to federal fraud and drug charges, while the chipmaker's former chief financial officer pleaded not guilty to fraud charges related to stock options.
Local companies may not be so eager to overhaul their accounting practices to meet an international standard
The world's biggest insurer, American International Group Inc., replaced CEO Martin Sullivan on Sunday after it suffered two quarters of record losses from risky mortgage bets and its share price more than halved over the past year.
Affliction LLC, a maker of edgy clothes worn by rock stars and athletes, is moving its headquarters from Signal Hill to Seal Beach in August.
Orange County's median home price is at its lowest level since early 2004, after prices fell another $15,000 from April to May.
A group of artists and members of the Orange County Fine Arts Association have teamed up to open a gallery, in the Marketplace column
Activity slowed in the first quarter for the manufacturing and warehouse sector. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Accounting Changes; WD Founder Phillips' Remaining 'Share'
Now that Barack Obama is the presumptive Democratic nominee, it is time to play the veepstakes game
Friday, June 13
Exxon Mobil Corp. said on Thursday it is getting out of the retail gas business in the U.S. as sky-high crude oil prices squeeze margins.
Soaring gasoline prices helped drive up overall consumer prices during May by the fastest rate in six months, but core prices remained tame, a government report on Friday showed.
A steady buildup of bad mortgages at Newport Beach-based Downey Financial Corp. continued last month as the savings and loan operator reported that 14.3% of its assets were "non-performing" as of May 31, up from 13.3% at the end of April.
Irvine-based Entrepreneur Media Inc., publisher of Entrepreneur magazine, is being bought by two private equity firms, according to a report Friday.
Microsoft's plan to establish a strong footing in online advertising suffered a big blow on Thursday as merger talks with Yahoo finally, formally failed and Yahoo said it would let Google sell search ads on its site.
Daryl Carter turned a $100,000 investment into one of the country's largest African-American-owned real estate investment firms earlier this decade. At his new venture,Irvine-based Avanath Capital Partners LLC,he's starting with a much bigger checkbook.
Thursday, June 12
Five Orange County medical, technology and other entrepreneurs were honored at a dinner Wednesday night as part of a regional program by accounting firm Ernst & Young.
Sales at retailers rose a much stronger-than-expected 1% in May as many consumers had more spending cash in their wallets from government tax rebate checks, a report on Thursday showed.
General Motors Corp's head of European operations said rising oil prices, high commodity costs and the strength of the euro could drive European sales down to levels not seen in decades.
An official of Aliso Viejo-based Valeant Pharmaceuticals International said Thursday that its taribavirin hepatitis C drug candidate could replace longtime flagship ribavirin.
Thornburg Mortgage Inc., a specialist in jumbo home loans that nearly collapsed in March, on Thursday posted a $3.31 billion first-quarter loss as the value of securities it owns declined.
Raytheon Co. is expanding its local operations with a Brea lease that is among the largest seen this year.
Wednesday, June 11
Shares of beleaguered savings and loan operator Downey Financial Corp. closed down more than 10% Wednesday on rumors about the nation's largest thrift, Washington Mutual Inc.
Office supplies company Staples has won its battle to buy Corporate Express after the Dutch company agreed to a sweetened bid of $2.65 billion to create the world's biggest office products supplier.
Lehman Brothers almost struck a deal with South Korean financial institutions as part of raising $6 billion in capital, and may yet arrange one by the end of the year, the Financial Times reported, citing people familiar with the matter.
Anaheim-based Pacific Sunwear of California Inc. will start selling shoes in 200 of its stores in time for the back-to-school season, the company said at an investor conference in New York on Wednesday.
A steady rise in energy prices has fueled an inflationary psychology in the U.S. and could be a problem if it does not reverse, Federal Reserve Vice Chairman Donald Kohn said on Wednesday.
Quality Systems Inc.'s shares were hit Wednesday after a Jefferies & Co. analyst said he expects smaller gains for the Irvine-based medical software company.
Tuesday, June 10
Los Angeles County Sheriff's Department veteran Sandra Hutchens was named Orange County Sheriff on Tuesday, becoming the first woman to hold the post.
The trade deficit widened more than expected in April as the average price for imported oil jumped to a record $96.81 per barrel and exports and imports also set records, a Commerce Department report showed on Tuesday.
Shares of Fountain Valley's Cam Commerce Solutions Inc., a maker of retail and payment processing software, rose after the company said Tuesday it's set to be bought in a private equity deal for about $180 million.
Automaker Jaguar Land Rover North America is moving its headquarters from Irvine back to northern New Jersey, according to a report in Automotive News.
Irvine-based employment screening company HireRight Inc. is being bought by Virginia's US Investigations Services LLC for $195 million, according to a regulatory filing on Tuesday.
Consumer confidence sank to a record low in June as a surge in gasoline prices to more than $4 a gallon and a jump in the unemployment rate helped torpedo a modest rebound in Americans' outlook seen the previous month, according to a survey released on Tu
XTO Energy Inc. said on Tuesday that it would buy crude oil and natural gas producer Hunt Petroleum Corp. for $4.19 billion in cash and stock in its second major purchase in two weeks.
Monday, June 9
The city of Newport Beach has tapped a consultant to help spruce up its retail areas, in the Marketplace column
Consumers in emerging markets aren't showing signs of slowing their cell phone buying, in the Technology column
The labor market declined in May to the weakest in three-and-a-half years and is likely to deteriorate further, the Conference Board said on Monday as it launched a new leading indicator for employment.
Irvine drug maker Allergan Inc. is paying $150 million for a prescription acne gel that recently was cleared by regulators for wider use.
A play-by-play of the criminal indictment against former Broadcom chief Henry Nicholas
Activity slowed in North and Central Orange County. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Quest biggest gainer with sales up by $70M
The founders of a T-shirt company prefer to run the business in an unconventional way
A gradual, inevitable changing of the guard is under way at some of Orange County's biggest technology companies.
Medical diagnostics should enjoy steady growth in the next five years, in the Healthcare column
With the state facing a huge budget deficit next year, lawmakers are eyeing a host of taxes and fees on business. Column by Howard Fine, LA Business Journal
Coast magazine and its sister publications are feeling the effects of the soft economy, in the Media & Marketing column
A 15,000-acre California real estate partnership that has the nation's largest public employees pension fund as a big investor has filed for Chapter 11 bankruptcy protection.
Lehman Brothers Holdings Inc. on Monday sold $6 billion of stock and convertible securities to bolster its capital base as the company prepares to post a $2.77 billion quarterly loss after trading and hedging losses.
Newport Beach-based Pacific Life Insurance Co. said Monday it's buying a unit of Scottish Re Group Ltd. for $71.2 million.
A flat panel TV maker has moved its U.S. headquarters to Irvine
ICU Medical could look to sell a struggling business line after a rough start in 2008
Mortgage entrepreneur Anthony Hsieh is back with another home finance company
Pondering IPO Dearth; Yard House Founder's $1.2 Million Backyard
Raytheon is expanding its local operations with a Brea lease
Shares of Irvine chipmaker Microsemi Corp. slumped late Monday after an analyst downgraded the stock.
Some office landlords are starting to lower rents in a bid to nab leases, in the Real Estate column
Friday, June 6
The unemployment rate jumped by the most in 22 years in May, reaching its highest level in more than 3-1/2 years and underscoring the recessionary risk the economy still faces.
This week's federal indictment of Broadcom Corp. cofounder Henry Nicholas was a long time coming.
A surprisingly large jump in the unemployment rate during May sparked a sell-off in shares of staffing and employment services stocks on Friday, signaling that the length and depth of the current labor market downturn may well be worse than anticipated.
San Francisco-based boutique hotelier Joie de Vivre Hospitality has taken over management of the 130-room Vacation Village hotel in Laguna Beach.
Carl Icahn on Friday told Yahoo Inc. that it should offer to sell the company to Microsoft Corp. for $34.375 per share, or about $48.7 billion, as the financier fired another volley in an acrimonious war of words.
SenoRx Inc. of Aliso Viejo said Friday that A. Thomas Bender, a veteran Orange County medical device executive, is a new member of its board.
Thursday, June 5
Huntington Beach-based Quiksilver Inc. said Thursday that the maker of surf-inspired clothes has begun a process to sell its struggling Rossignol unit.
Same-store sales at mall retailer Pacific Sunwear of California Inc. fell as expected by Wall Street, while Wet Seal Inc.'s decline came in slightly better than expected.
Edwards Lifesciences Corp. said it's fighting a $40.1 million punitive damage award stemming from a product liability lawsuit.
The federal indictment of former Broadcom Corp. chief and founder Henry Nicholas is rife with allegations of rampant drug use and paints the picture of a CEO gone wild.
Many retailers reported better-than-expected May sales on Thursday, with discounters and dollar stores attracting customers looking to save money in the weak economy, but department stores continued to struggle.
A federal grand jury has indicted Broadcom Corp. cofounder and former chief executive Henry Nicholas on charges related to the backdating of options at the chipmaker and suspicion of violating federal drug laws.
The number of workers filing new claims for jobless benefits fell unexpectedly last week to the lowest level since mid-April, a government report said Thursday, raising optimism that the sluggish economy may skirt a recession.
Verizon Wireless said on Thursday that it would buy Alltel Corp. for $28.1 billion, including $22.2 billion in debt, vaulting the combined company to first place in the U.S. mobile services market ahead of AT & T; Inc.
Wednesday, June 4
J.M. Smucker Co. will acquire Folgers, the largest U.S. coffee business, from Procter & Gamble Co. for stock valued at $2.95 billion, the companies said on Wednesday.
Santa Ana's Ingram Micro Inc., the biggest distributor of technology goods, reaffirmed its second-quarter outlook on Wednesday.
The private sector added workers in May, defying Wall Street's expectations of a fall and suggesting the world's largest economy may be coping surprisingly well with the current housing-led downturn.
Brea-based Fremont General Corp. has closed on the sale of its last mortgage servicing rights, the company said Tuesday.
Mortgage applications fell for a third consecutive week, reaching its lowest level in over six years as demand for home refinancing loans plunged, an industry group said on Wednesday.
Allergan Inc., an Irvine drug maker, said Wednesday it plans to file for Food and Drug Administration approval of a drug to spur eyelash growth.
Tuesday, June 3
General Motors Corp. on Tuesday said it was closing four North American truck plants and could sell its Hummer brand to cut slow-selling trucks and SUVs from its lineup in response to higher gasoline prices the automaker now sees as a permanent threat to
Shares of Newport Beach-based Downey Financial Corp. closed down 7% on credit concerns from Standard & Poor's Tuesday.
Shares of Santa Ana-based Corinthian Colleges Inc. got a boost on Tuesday after a Lehman Brothers analyst raised his price target on the vocational school operator's stock on expected enrollment gains and revenue growth.
Federal Reserve Chairman Ben Bernanke on Tuesday issued a rare warning on the inflationary risk posed by a weak dollar, but said interest rates were "well positioned" for an economy facing both price pressures and threats to growth.
The phenomenal rise in oil prices show signs of a bubble, but a crash is not imminent, billionaire hedge fund manager George Soros told lawmakers on Tuesday.
Donald Murray, founder of Santa Ana-based accounting services company Resources Connection Inc., has stepped down as chief executive to become executive chairman and to make way for the second boss in the company's nine years.
Monday, June 2
Wachovia Corp. ousted Ken Thompson as chief executive of the fourth-largest U.S. bank in the wake of growing legal troubles and loan losses tied to the purchase of a big mortgage lender just before the nation's housing boom went bust.
San Clemente-based hotel owner Sunstone Hotel Investors Inc. said Monday it sold a hotel for $366.5 million and could seek to sell more.
Santa Ana-based Grubb & Ellis Co. said on Monday that the Securities and Exchange Commission has closed its investigation of predecessor company Triple Net Properties without any enforcement action.
Local printers are eyeing more services and acquisitions in order to stay competitive, in the Media & Marketing column
A real estate executive is reaching out to onetime NFL hopeful Anaheim and the rest of OC
Fountain Valley-based Kingston Technology Co., the top maker of memory for PCs and consumer devices, is set to start selling flash memory-based drives.
An installer of communications gear is targeting startups, in the Small Business column
Construction spending slipped in April as home building continued to plummet, but private spending on non-residential projects rose for a third straight month, government data showed on Monday.
Standard Pacific's chief executive's hard work is paying off with a big financing deal
Shares of Newport Beach-based chipmaker Conexant Systems Inc. rose Monday after the company announced a reverse stock split and said results for the June quarter are expected to come in at the high end of its outlook.
Global sales of semiconductors rose 5.9 percent in April on solid demand for personal computers, mobile phones and products using flash memory, an industry group said on Monday.
Irvine's Gateway is shaping up under its Taiwanese parent, in the Technology column
Healthcare companies got a smaller piece of OC's growing venture capital funding in the first quarter
The mood at Impac Mortgage is starting to look a little brighter, despite a $2 billion loss in 2007, in the Real Estate column
The commercial real estate market in South Orange County is steady despite a slowing housing market. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Honda Motor is looking to make Acura a top luxury brand, in the Marketplace column