Stories for September 2008
Tuesday, September 30
Newport Beach-based chipmaker Conexant Systems Inc. said it sees higher-than-expected profits for the three months through Friday, sending its shares soaring on a rebounding Wall Street.
Prices of single-family homes plunged a record 16.3 percent in July from a year earlier, extending declines that have plagued the housing market for two years, according to the Standard & Poor's/Case-Shiller Home Price Indexes.
Irvine-based homebuilder California Coastal Communities Inc. said on Tuesday it had reworked $210 million worth of bank loans, which should allow it to better finance the construction of homes at its Brightwater development in Huntington Beach.
Consumer confidence improved in September as inflation expectations fell to a six-month low, the Conference Board said on Tuesday, though it noted its survey did not capture all the latest events in the financial crisis.
A newly formed fund of Irvine-based bank consultant Carpenter and Co. is expected to invest $6 million into San Luis Obispo-based Mission Community Bancorp.
Pepsi Bottling Group Inc. posted a better-than-expected quarterly profit on Tuesday as price increases helped offset volume declines, and it raised the low end of its full-year earnings outlook.
Monday, September 29
Broadcom broadens focus to digital TV chip business and set-top boxes
J2 Retail Systems is looking to capitalize on high oil prices by selling cash register computers to gas station operators
Orange County stocks plummeted Monday as part of a dramatic Wall Street drop after the House's rejection of the government bailout plan.
Vangard Voice Systems landed a $3 million contract, in the Technology column
Calsonic North America is shutting down in Irvine after more than four decades there
Costa Mesa's South Coast Home Furnishings Centre is looking for its third owner in two years
W.B. Doner has started a branding campaign for Del Taco, in the Media & Marketing column
William Shopoff wants to buy about $100 million of undeveloped land with his newly funded REIT
Orange County employers will pay more for healthcare for their workers next year, but the rate of growth is forecast to be the lowest since 2001.
The industrial market is slowing down, but vacancy is still low. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
AUTOMOTIVE - The OC Auto Show is going heavy on the entertainment to draw more people, in the Marketplace column
OC hotel sales continued to slow in the first half of 2008 as the credit crunch worsened
The prized Neuberger Berman asset management business of bankrupt Lehman Brothers Holdings Inc. is being sold to private equity firms Bain Capital LLC and Hellman & Friedman LLC for $2.15 billion -- a lot less than original estimates.
UCI is offering a dual degree at its business and law schools next year
Citigroup Inc. said on Monday it would buy the banking operations of Wachovia Corp. in a brokered deal that Federal Reserve Chairman Ben Bernanke said would help bring financial stability.
How the county's largest public relations agencies upped their employment during the past year
Stocks plunged on Monday, pushing the Nasdaq down more than 7% at one point, after the House of Representatives rejected a proposed $700 billion plan to stabilize the financial sector and repair the credit crisis.
It is time the two presidential candidates tell us more about the economists they'd like to include in their administrations.
One analyst says Masimo's new hemoglobin monitoring system could pay off, in the Healthcare column
Hudson Capital got a better deal on City Plaza tower than previously thought, in the Real Estate column
Gross Stumps for Fed Bailout; Political All-Stars Visit OC
Edison International has joined environmental groups, labor organizations and renewable energy producers in opposing an initiative on the November ballot.
Friday, September 26
Shares of Wachovia Corp. and National City Corp. tumbled on worries about heavy mortgage losses after talks on a $700 billion financial sector bailout bogged down and federal regulators seized Washington Mutual Inc. in the largest bank failure in U.S. his
Santa Ana-based real estate brokerage and investor Grubb & Ellis Co. on Friday was added to the New York Stock Exchange's recently created short-selling ban list.
Washington Mutual Inc. was closed by the government in by far the largest failure of a U.S. bank and its banking assets were sold to JPMorgan Chase & Co. for $1.9 billion.
Irvine-based auto marketing company Autobytel Inc. said Friday it is laying off workers and has hired an investment bank to explore options, including a possible sale.
Pressure mounted on lawmakers on Friday to agree on a $700 billion financial rescue plan after the collapse of talks in acrimony and the biggest bank closure in U.S. history roiled global markets.
Ista Pharmaceuticals Inc., an Irvine-based drug maker, said Friday that three of its long-term shareholders agreed to provide it with up to $65 million worth of funding.
Thursday, September 25
Regulators are trying to quickly broker a deal for Washington Mutual Inc., a large savings and loan crippled by mortgage losses, the New York Times reported on Thursday.
The government will get a return on its $700 billion bailout program, said the manager of the world's biggest bond fund on Thursday.
Orders for costly manufactured goods plunged in August and the number of workers filing new claims for jobless benefits shot up, according to government reports on Thursday that showed the economy rapidly weakening.
The price of an existing Orange County home fell another 4.9% in August from July, although sales were up more than 30% from a year earlier, the California Association of Realtors said on Thursday.
Shares of Newport Beach-based Downey Financial Corp. took a wild ride Thursday, even for a company that's seen its share of volatility in recent weeks.
Joe Ueberroth plans to step down a year from now as chief executive of Newport Beach-based Ambassadors International Inc. in a move that could end the long reign of the Ueberroths at the cruise and travel services company.
Tustin-based Cherokee International Corp., a maker of power supply gear for electronics that's been shopping itself since April, is being sold for $105 million in cash.
Wednesday, September 24
CT Realty Corp. and developer Fasthold Capital Inc. have bought $33.5 million in troubled mortgages for about 100 homes in California, Washington and Arizona.
Freddie Mac's treasurer said on Wednesday that overseas investors were taking a wait-and-see stance toward U.S. agency debt due to volatility and uncertainty, but added that this did not signify a loss of confidence.
Sumitomo Mitsui Financial Group, Japan's No. 3 bank, plans to invest in Goldman Sachs Group Inc., Japanese media said, in what would be the third big Japanese investment this week on Wall Street.
Irvine's Broadcom Corp. is said to be in talks with San Diego-based Qualcomm Inc. to settle a long-running battle over intellectual property rights for cell phone chips, according to reports.
An analyst downgraded his rating on shares of Aliso Viejo-based QLogic Corp.,but not on fears of a downturn at the maker of networking electronics.
Federal budget deficits of as much as $800 billion, double the current level, will be the "norm" following a proposed financial system bailout, said veteran Wall Street economist Henry Kaufman on Wednesday.
Tuesday, September 23
After vetoing $510 million in spending passed by the Legislature, Gov. Arnold Schwarzenegger signed the state's tardiest budget this morning, allowing more than 80,000 state vendors with outstanding bills to be paid.
Shares of Irvine-based business software maker Epicor Software Corp. fell Tuesday after an analyst downgraded the stock on concerns about slower sales at the company's target customers and slimmer profits.
Shares of Irvine chipmaker Broadcom Corp. fell 7% Tuesday on speculation the company could issue a warning on third-quarter results, according to a Barron's report.
Foothill Ranch-based retailer Wet Seal Inc.'s Arden B chain is showing progress on a turnaround but faces a tough retail market and holds the prospect of a sale or closure, an analyst said Tuesday.
Shares of Anaheim-based Pacific Sunwear of California Inc. took a hit on Tuesday after an analyst with MKM Partners downgraded the mall retailer's stock, saying the company is struggling to shed clearance items and faces increased competition.
Monday, September 22
The Irvine office of Young and Rubicam is losing work for automaker Land Rover to the agency's New York office
Financial Crisis Busies Campbell, Dogs Cox; Another Vegas Buyer
Newport Beach-based savings and loan operator Downey Financial Corp. said Monday that it appointed Charles R. Rinehart as its new chief executive.
A nearly dead market for IPOs isn't stopping TherOx from testing the waters
The second quarter showed some positive signs for OC retail. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
Smith Micro delivered on its promise to diversify its customers
One analyst sees Quest Software's recent growth slowing down, in the Technology column
Lawrence "Larry" Webb and Timothy Hogan ran two of Orange County's larger homebuilders, John Laing Homes and Warmington Homes California, during the peak of the housing market.
Costa Mesa-based 88 Orange is trying to smell like a success with orange-scented T-shirts, in the Small Business column
Some Engineering Firms Find It Hard To Recruit Young Workers
Nomura Holdings, Japan's largest brokerage, will pay up to $525 million to acquire the Asian operations of Lehman Brothers, a person familiar with the matter told Reuters.
CT Realty and Fasthold Capital have bought $33.5 million in troubled mortgages
Microsoft Corp. plans to buyback up to $40 billion of its own stock, and raised its quarterly dividend by 18%, the software maker said on Monday.
The four-day Lido Yacht Expo in Newport Beach was slower than usual, in the Marketplace column
Several OC device and drug makers attended the Southern California Biomedical Council's annual investor conference in Los Angeles, in the Healthcare column
Eaton Aerospace is consolidating in the Irvine Spectrum,
Irvine-based Biolase Technology Inc., a maker of dental lasers, said Monday that it received its first Japanese patent for its product that uses water particles to cut soft tissue.
Irvine-based video game developer Double Helix Games buying technology through new, bigger platform
Engineering Firms Gains Driven by Fluor's Contracts
Shares of Costa Mesa's Irvine Sensors Corp., a small maker of electronics for the military, rose Monday after the company said it's working out a plan with lenders to pay down debt.
National Home Auction barely began auctioning homes before it was forced to close its doors, in the Real Estate column
Goldman Sachs and Morgan Stanley sought shelter with the Federal Reserve to survive a financial storm that destroyed their rivals, and Wall Street braced for a week of political wrangling over a proposed $700 billion bailout for troubled banks.
Deal Spurs Gain at Otherwise Slowing Architecture Firms
Friday, September 19
Newport Beach-based bond manager Pacific Investment Management Co. could look to manage mortgages and other troubled assets as part of the government's bailout plan, Bill Gross told CNBC Friday.
Officials rushed to shore up ailing money markets on Friday after signs that this long-safe corner of financial markets, home to some $3.5 trillion of deposits, was at risk of falling victim to the year-old credit crunch and bring the crisis to Main Stree
The government pledged $50 billion to guarantee money-market mutual funds, curbed short-selling and crafted a sweeping plan to mop up toxic mortgage debt, sending global stock markets soaring on Friday.
Orange County's job losses continued in August but tempered slightly from July.
Plane parts maker Eaton Aerospace LLC is consolidating in the Irvine Spectrum. The company, a division of Cleveland-based industrial equipment maker Eaton Corp., has signed a 10-year lease for about 140,000 square feet of office and industrial space.
Citigroup Inc. is considering making a bid for Washington Mutual Inc., the Wall Street Journal said on Friday, citing people familiar with the situation.
Thursday, September 18
The world's top central banks joined forces on Thursday to throw a multi-billion dollar lifeline to global markets in a dramatic effort to free up bank-to-bank lending, frozen by the upheavals on Wall Street.
Fountain Valley-based Hyundai Motor America plans to shift its advertising account to Irvine's World Marketing Group sometime next year, according to trade publication AdWeek.
California State University Fullerton received $5 million for its Performing Arts Center from the estate of a former student body president.
Forbes magazine is out with its list of the 400 richest Americans, with some surprising numbers for the list's Orange County contingent.
The University of California, Irvine received a $1.7 million donation from the Bill & Melinda Gates Foundation to create an institute focused on the growing use of cell phone technology in providing banking and financial services to people in developing c
Morgan Stanley topped the list of major financial firms scrambling to find a buyer, while central banks rushed in $180 billion of extra liquidity to calm panicked stock and money markets.
The number of workers filing new claims for jobless benefits rose unexpectedly by 10,000 last week, as the first wave of job losses from Hurricane Gustav rolled in after reporting delays in Louisiana, the Labor Department reported on Thursday.
Wednesday, September 17
Stocks extended losses on Wednesday, sending the S & P; 500 and the Nasdaq off more than 3%, as a spike in inter-bank lending rates fanned fears that credit might be drying up in the global financial system.
Investment bank Morgan Stanley is weighing whether it should remain independent or merge with a bank, given the recent turbulence in the company's share price, broadcaster CNBC reported on Wednesday.
Orange County's median home price is now off more than $200,000 from a year ago, after prices dropped another $21,000 in August from July.
Aliso Viejo-based Valeant Pharmaceuticals International said Wednesday it's spending $95 million to buy skin drug maker Coria Laboratories Ltd.
Shareholders of Newport Beach chipmaker Jazz Semiconductor Inc. gave the green light Wednesday to a deal that would allow the struggling company to be bought by Israel's Tower Semiconductor Ltd.
Wall Street stumbled again Wednesday, with anxieties about the financial system still running high even after the government bailed out the insurer American International Group Inc. The Dow Jones industrial average dropped about 300 points.
Washington Mutual's board would seriously consider a merger offer even at a discount to what the Seattle-based thrift believes it is worth, as it faces mounting pressure to pursue options amid credit-rating downgrades, an analyst at Merrill Lynch said.
Tuesday, September 16
American International Group Inc. shares tumbled 50% after the giant insurer's credit ratings were slashed, feeding market fears as top investment bank Goldman Sachs reported sharply lower quarterly earnings.
Shares of Santa Ana's Ingram Micro Inc., the top distributor of technology products, software and consumer electronics, slipped Tuesday after the company lowered its outlook for the current quarter.
Newport Beach-based developer Igor Olenicoff on Tuesday filed a $500 million lawsuit against UBS AG and others, claiming they orchestrated a massive fraud that led to federal tax charges against him.
Hyundai Motor Finance Co. announced on Tuesday it signed a lease for about 100,000 square feet at Maguire Property Inc.'s new 3161 Michelson office tower in Irvine.
Goldman Sachs Group Inc. said third-quarter earnings plunged 70% as one of the market's worst slumps ever sapped revenue in almost every business while fueling investment and credit losses.
The Federal Reserve will consider cutting interest rates to boost confidence in battered financial markets but policy-makers may keep rates on hold in the hopes that already low rates and expanded central bank lending will stabilize the economy.
Monday, September 15
The Action Sports Retailer Trade Expo in San Diego was a sober affair compared to years past
Stocks fell on Monday as a bankruptcy filing by investment bank Lehman Brothers Holdings Inc. and cascading fears about the stability of other major financial institutions spooked global markets.
Bank of America Corp. said it agreed to buy Merrill Lynch & Co. in an all-stock deal worth $50 billion, snagging the world's largest retail brokerage after one of the worst-ever weekends on Wall Street.
A look at disaster relief startup Relief Pod International
Employment at OC's largest providers of phone service and equipment largely was stable in the past 12 months
Allergan is shutting down a collagen plant in the Bay Area, in the Healthcare column
Transworld Media is launching a Web site for all of its publications, in Media & Marketing column
Two prominent executives considering bid for OC Register, which is looking at a joint operating agreement with the L.A. Times
Lehman Brothers Holdings Inc filed for bankruptcy protection, after trying to finance too many risky assets with too little capital, making it the largest and highest-profile casualty of the global credit crisis.
Startup Socialcast wants companies to do office meetings MySpace style, in the Technology column
The soap opera behind hospital operator Integrated Healthcare Holdings
Best Buy Co. plans to buy digital music service Napster Inc for $121 million in cash in an effort to compete with Apple's dominant iTunes service and its iPod music players.
Fleming's Prime Steakhouse is bringing back a favorite dining experience, in the Executive Dining column
Newport Beach-based bond manager Pacific Investment Management Co. is set to take a loss with the collapse of investment banker Lehman Brothers Holdings Inc.
Irvine-based mortgage investor Impac Mortgage Holdings Inc. said on Monday it posted a loss of $16.4 in the second quarter, part of a $20.9 million loss for the first half of the year.
Suncal and Lehman Brothers are facing involuntary bankruptcy petitions on large Southern California developments
Menswear boutique Canali abuzz when Olympic gold medalist Jason Lezak visited, in the Marketplace column
Ingrid Otero-Smart says that a little luck helped her nab the chief executive position at Casanova Pendrill
Powerwave Technologies is turning the corner on two tough years of restructuring
Register Bombshells; Irvine Co. Layoffs; Ga-Ga for Palin
A look at people, companies and institutions receiving awards, accolades, grants and other honors
MANUFACTURING & WAREHOUSE. Industrial Market Slowing Down, Vacancy Still Low
Portland's Guardian Management has hired a local to head up the recently acquired offices of Sperry Van Ness, in the Real Estate column
Shares of American International Group fell more than 50% in early trading on reports that the insurer had turned to the Federal Reserve for $40 billion in bridge financing to ward off a liquidity crisis and ratings downgrades.
Friday, September 12
Retail sales fell for a second month in a row in August, the government said on Friday, raising fears that faltering consumer spending was heightening the chances of a recession.
Shares of American International Group Inc. fell more than 20% on Friday as investors grew increasingly concerned that the big insurance company is being backed into a corner by its large exposure to mortgages.
Park Electrochemical Corp., a Melville, N.Y.-based electronics maker, plans to take a $100,000 December quarter charge for job cuts at its Orange County plant.
HealthTronics Inc. has withdrawn an unsolicited $26.9 million cash buyout offer for Irvine device maker Endocare Inc.
Aliso Viejo's Quest Software Inc., a maker of business software, said Friday it bought Phoenix-based NetPro Computing Inc. for $78 million in cash.
Concern that Lehman Brothers Holdings Inc. may fail to find a buyer because the government is reluctant to provide financial backing sent the investment bank's shares tumbling to a nearly 14-year low on Friday.
Thursday, September 11
Shares of Irvine drug maker Allergan Inc. were up 10% in midday New York trading Thursday trading on news that its flagship Botox wrinkle remover may help relieve migraine headaches.
Shares of Comarco Inc., a Lake Forest-based maker of wireless testing gear and power adapters, fell Thursday after the company said that one of its two lines of business is slowing.
American International Group Inc., the world's largest insurer, holds between $550 million and $600 million in Fannie Mae and Freddie Mac preferred shares, according to a source familiar with the investment.
Washington Mutual Inc. shares plunged as much as 25% to less than $2 for the first time since 1990 as investors worried about the credit loss and survival prospects for the largest savings and loan.
Lake Forest-based home healthcare provider Apria Healthcare Group Inc. on Thursday released second-quarter results delayed by accounting issues and forecast slower 2008 revenue growth on the sale of a business.
The trade deficit widened much more than expected in July as average oil prices jumped to a record $124.66 per barrel and the volume of crude oil imports grew to the highest in four years, a Commerce Department report showed on Thursday.
Wednesday, September 10
Lehman Brothers Holdings Inc. plans to sell a majority stake in its asset management unit and spin off commercial real estate holdings, hoping to restore investor confidence and ensure its survival after reporting a record quarterly loss of about $4 billi
Bond manager Bill Gross of Newport Beach's Pacific Investment Management Corporation has donated $1.5 million in stamps for auction to benefit needy African communities.
Bond fund manager Bill Gross of Newport Beach's Pacific Investment Management Co. has donated $1.5 million in rare stamps for auction to benefit needy African communities.
The Pentagon is ending for now a $35 billion transatlantic aerial-refueling competition, handing a seven-year headache to the next administration and boosting Boeing Co's hopes to keep Airbus planes out of the fleet.
Walt Disney Co.'s business is proving resilient in the face of tough economic conditions although the crisis is not over yet, Chief Executive Robert Iger said on Wednesday.
Costa Mesa-based body armor maker Ceradyne Inc. lowered its 2008 guidance Wednesday due to an unexpected delay in an Army contract.
Shares of Huntington Beach-based BJ's Restaurants Inc. got a boost on Wednesday after an analyst upgraded the restaurant operator's stock, saying the company's ability to raise prices more aggressively than competitors will help it withstand rising food a
Tuesday, September 9
Oil was near a new five-month low on Tuesday on expectations that OPEC would leave formal output targets unchanged and as the threat of Hurricane Ike to U.S. Gulf of Mexico energy infrastructure receded.
Santa Ana-based First American Corp. said on Tuesday its $37.9 million investment in Fannie Mae and Freddie Mac will decline in value because of this week's takeover of the mortgage investors by the government.
Irvine-based Fisker Automotive Inc., designer of an upscale hybrid sports car, has raised $65 million in one of the largest venture funding rounds seen in the county.
Pending sales of existing homes fell more sharply than expected in July, partially erasing gains from the previous month, data from a real estate trade group showed on Tuesday.
The Orange County Register is considering shrinking the daily newspaper to a tabloid-size paper as part of an operations review designed to cut costs, according to a trade publication report.
A resurgent dollar has thrust emerging assets into the forefront of a global markets selldown, just months after they were being touted as the least exposed of investments in the credit crunch.
Monday, September 8
A serial entrepreneur has created a shoe line with Auri Footwear, in the Small Business column
Broadcom's recent $193 million cash buy of a digital TV chip business was a bit of a steal, in the Technology column
Aerospace groups prepared for global disruption from a potentially lengthy strike at Boeing Co., as one of the planemaker's biggest outside suppliers lost no time in cutting production and working hours.
Knobbe Martens Olson & Bear has become the county's largest law firm after a hiring spree
A federal judge has rejected a plea deal for Broadcom Corp. cofounder and former chairman Henry Samueli on charges of lying to federal investigators about his role in granting stock options at the Irvine chipmaker.
Washington Mutual Inc. confirmed Monday that Kerry K. Killinger is out as chief executive and said it has agreed to file a recovery plan with government regulators.
TOURISM - Fears about a disappointing summer for tourism were dispelled in July and August
New auto registrations were down 13% in OC in July, in the Marketplace column
ABOUT THE LIST - Personal, Family Foundations Give $115 Million for Range of Causes
Nonprofits Seek Self-Sufficiency by Running Own Businesses
True Games Interactive has been acquired by an Indian media and entertainment group
Details about Maguire Properties' recent sale of City Plaza tower in Orange are beginning to emerge
FINANCE: Donations are a mix of profit percentages, personal gifts
South County's industrial, office and investment markets were hit in the second quarter. PLUS: CHARTS - Net Absorption; Vacancy Rates; Average Asking Lease Rates
The head of Fieldstone Communities is stepping down, in the Real Estate column
Washington Mutual Inc., the largest savings and loan, ousted Kerry Killinger as chief executive and has been put under special regulatory supervision, following skyrocketing losses from mortgages that are expected to weigh on results for years.
Folino Hosts Palin; Moorlach Raps Brown; Register Speeds Up
Seal Beach-based Clean Energy Fuels Corp., a provider of natural gas for fleets that's backed by T. Boone Pickens, is acquiring a Canadian maker of natural gas refueling equipment for $17 million.
Nursing home operators have been among the best local performers in a shaky stock market
The new chief executive at Quality Systems isn't spending all his time dealing with board issues, in the Healthcare Column
KDOC-TV is moving its morning news show from 6 a.m. to 10 a.m., in Media & Marketing column
Shares in mortgage finance companies Fannie Mae and Freddie Mac plunged while their debt soared Monday, one day after the government took over the companies, as investors bet the action would wipe out stockholders but fully guarantee their bonds.
3M Co. is acquiring Irvine-based car care products maker Meguiar's Inc.
A local surgeon turned T-shirt designer looks to make it big with a line based on international stamps
Boeing is ramping up recruiting efforts as its aging workforce looks to retire
Santa Ana Nonprofit Offers Software for Math Learning
Sunglasses maker VonZipper has expanded as part of Billabong USA
Friday, September 5
Home foreclosures and the rate of homes entering foreclosure rose to record highs in the second quarter, the Mortgage Bankers Association said on Friday.
TherOx Inc., an Irvine medical device maker, has filed plans to raise up to $100 million in an initial public offering.
Pacific Investment Management Co.'s Bill Thompson is leaving the bond fund manager after serving as its chief executive for 15 years.
The unemployment rate unexpectedly shot up to 6.1% in August, the highest in nearly five years, as employers cut payrolls for an eighth straight month and a decline in labor markets accelerated.
Irvine-based chipmaker Broadcom Corp. could be nearing a settlement of a patent infringement dispute with San Jose-based Sirf Technology Holdings Inc.
Blackstone Group LP and Kohlberg Kravis Roberts & Co. are each looking to buy parts of Lehman's real estate and asset management units, sources familiar with the situation said on Friday.
Thursday, September 4
There's nothing like a slow economy to dampen a party. The Action Sports Retailer Trade Expo kicked off in San Diego on a somber note on Thursday.
Discount retailers, led by Wal-Mart Stores Inc., posted stronger-than-expected August sales on Thursday as shoppers sought last-minute deals on back-to-school items and other products.
The dominant service sector improved last month and businesses boosted productivity in the second quarter but the labor market continues to struggle, government reports on Thursday showed.
HealthTronics Inc. said its $26.9 million unsolicited buyout offer for Irvine's Endocare Inc. still stands, despite being rejected three weeks ago.
To stop a sell-off of an array of assets, the government should give the Treasury the right to buy stocks and debt to halt a financial tsunami, the manager of the world's biggest bond fund said on Thursday.
August sales at Anaheim-based mall retailer Pacific Sunwear of California Inc. fell less than expected, while Foothill Ranch-based Wet Seal Inc. saw a steeper than expected decline.
Huntington Beach-based Quiksilver Inc., the largest maker of clothes inspired by surfing, reported a quarterly profit that beat expectations and upheld its outlook for the 12 months through October.
Wednesday, September 3
Shares of Irvine's Newport Corp., a maker of industrial lasers, light filters and related gear, jumped Wednesday after the company outlined a series of steps to boost profits and gave a better than expected outlook for the rest of the year.
Specialty glass maker Corning cut its third quarter financial outlook, citing weaker- than-expected demand from companies that assemble flat panel televisions, sending its shares down 10%.
The chief executive of bankrupt Fremont General Corp. of Brea is stepping down from the onetime subprime mortgage lender and bank operator.
Almost 27,000 Boeing Co. workers are set to vote on the plane maker's latest three-year contract offer on Wednesday, urged by their union to reject it and walk off their jobs at midnight, raising the possibility of the fourth Boeing strike in 20 years.
Edwards Lifesciences Corp. said Wednesday that the Food and Drug Administration approved its heart valve for treating mitral valve disease.
Coca-Cola Co., the world's largest soft drinks maker, offered to buy juice maker China Huiyuan for a hefty premium, marking the biggest takeover in China by a foreign company.
Tuesday, September 2
Networking gear kingpin Cisco Systems Inc. could look to buy Aliso Viejo's QLogic Corp., an analyst speculated Tuesday.
State-owned Korea Development Bank confirmed on Tuesday it was in talks with Lehman Brothers over a possible joint investment in the U.S. bank with other Korean banks, sending Lehman shares higher but depressing local bank shares.
Costa Mesa-based Volcom Inc. is buying a seller of its clothes in Japan, the company said Tuesday.
Factory activity unexpectedly shrank slightly in August while inflation pressures also eased, according to an industry report released on Tuesday.
Los Angeles-based Maguire Properties Inc. said on Tuesday it is selling City Plaza tower in Orange to Los Angeles-based Hudson Capital LLC.
Oil prices dropped more than $6.50 per barrel on Tuesday, the biggest drop in dollar terms since 1991, as dealers bet the U.S. oil industry would recover quickly from Hurricane Gustav.
Quality Systems Inc., an Irvine healthcare software company, is set this week to learn if it's getting up to three independent directors after a dissident shareholder and director made another challenge to its management.
Monday, September 1
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Virginia's Orbital Sciences is looking to tap into OC's engineering workforce
An analysis of potential laws that could affect local businesses. Column by Howard Fine, Los Angeles Business Journal
Medical Device, Drug Makers' Stocks Hit by Wall St. Slump
Medical Device Makers Grew Employees 3% in Past Year
New designs from parachute maker Airborne Systems have driven the company to nearly double the size of its local operation
Life after Donald: Hunt Stays Busy; Beijing, Then Denver
County Treasurer-Tax Collector Chriss Street dodged a bullet last month when he was cleared of wrongdoing in a district attorney's investigation
A former assisted living executive and onetime professional sports entrepreneur has gotten into long-term healthcare insurance, in the Healthcare Column
The Irvine office of Jones Day has hired a lawyer from Latham & Watkins to form a corporate law practice
Pimco Looks To Invest $5 Billion in Distressed Mortgages With Fund
It's a parlor game figuring out the power shifts in the executive offices at the Irvine Company, in the Real Estate column
Quality Systems is about to learn if it's getting up to three independent directors
OC Metro Business magazine goes monthly with a new look, in Media & Marketing column
Mike Harrah's Batmobile will be shown at the Coastline Car Classic this Sunday, in the Marketplace column
The world's top athletes weren't the only ones raking in the gold at the Beijing Olympics, in the Technology column
U.S. DryCleaning Corp. is trying to become the largest consolidator of dry cleaners
Money manager Richard Gadbois is bargain hunting in Asia with a new hedge fund
Venture Capitalists Invest $217M in Devices, Drugs in '08
Tough times in the pickup truck market have Line-X Franchise Development shifting gears to stir up more business