Stories for June 2009
Tuesday, June 30
Shares of Costa Mesa-based Emulex Corp. plunged Tuesday as investors feared the company's management could drag on a two-month takeover drama, despite a higher offer from Irvine's Broadcom Corp. on Monday.
Bankruptcy petitions have been filed for more than 20 properties and affiliates related to Pacific Property Assets, an Irvine-based apartment investor.
Efforts to save two leading European carmakers took a twist on Tuesday that could change the ownership of both crisis-hit General Motors Corp.'s Opel and German sportscar maker Porsche.
Foothill Ranch-based nursing home operator Skilled Healthcare Group Inc. said Tuesday it wrapped up a restatement of more than three years of financial statements with a charge to past earnings of $8.4 million.
Consumer confidence took an unexpectedly steep slide in June, figures released on Tuesday showed, suggesting the 18-month-long recession had yet to loosen its grip on the economy.
Government experts say the maximum daily dose listed on Tylenol and dozens of other painkillers should be reduced to help curb deadly overdoses.
Monday, June 29
South County's research and development market is feeling the brunt of the economy, in Real Estate Watch
Ingram is trying to put its customers in the path of federal stimulus dollars
Fountain Valley's Coastline Community College plans to build a $24 million, 60,000-square-foot learning center in Newport Beach.
Jacuzzi Brands has hired Truth to come up with a summer promotional campaign, in the Media & Marketing column
Allergan's eye drug arsenal is about to pick up a new weapon in the coming weeks, in the Healthcare column
A local exec is opening an Irvine dog care center with a pedigree
Asset management and servicing giant State Street Corp. said it might face civil charges by securities regulators for exposing investors to losses on subprime mortgages.
Irvine's Broadcom Corp. appears to have done an about-face Monday in its efforts to buy Costa Mesa's Emulex Corp.
Enterprise Products Partners LP said on Monday that Teppco Partners LP had accepted its sweetened $3.3 billion bid in a deal that would form the largest publicly traded energy partnership.
Employment at local aerospace and defense contractors held up fairly well against a weakened economy
San Clemente-based Sunstone Hotel Investors Inc. has reworked a line of credit as part of the hotel owner's ongoing efforts to get a handle on its debt.
District Court Judge Denny Chin sentenced disgraced financier Bernard Madoff, 71, to 150 years in prison on Monday for perpetrating Wall Street's biggest and most brazen investment fraud.
A newly built medical office property in the Spectrum has filed for bankruptcy
The head of Opus West's Southern California operations is leaving the troubled developer to start a new venture
Political and economic currents are making local defense contractors uneasy.
One analyst has taken a stab at guessing Broadcom's wireless chip profits, in the Technology column
He Slayed Enron's Ken Lay, Now Defends Countrywide's Mozilo
Fuel Systems Solutions Inc. plans to raise $30 million by selling stock to institutional investors.
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Santa Ana-based First American Corp. offered on Monday to buy the 26% of First Advantage Corp. that it doesn't already own for about $218 million.
CHOC is lining up some of the money it needs to pay for its upcoming $562 million expansion
Friday, June 26
Consumer confidence rose in June to the highest since February 2008, as expectations grew that the worst economic recession since the Great Depression may be ending, a survey showed on Friday.
KB Home, the No. 5 homebuilder, posted a wider-than-expected quarterly loss on Friday, but said it saw signs that negative trends in the housing market were moderating.
Investors welcomed UBS plans to raise $3.5 billion of new capital but said the bank will not turn the corner until it stems client withdrawals and settles U.S. legal problems.
Bank regulators closed MetroPacific Bank, of Irvine, California, on Friday, the 44th U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.
Thursday, June 25
A Thousand Oaks radio station is moving to Irvine, according to a report in the Ventura County Star newspaper.
Irvine Company plans to spend more than $100 million in the next two years to expand and revamp its Fashion Island shopping center in Newport Beach.
Federal Reserve Chairman Ben Bernanke, facing one of his toughest grillings yet by lawmakers on Thursday, denied he had ever threatened to fire Bank of America management if they pulled the plug on a planned merger with Merrill Lynch.
Ericsson said its chief executive, Carl-Henric Svanberg, was stepping down to become chairman of BP PLC in a surprise appointment that ends the oil major's fraught search for a successor to Peter Sutherland.
Kimberly-Clark Corp. said on Thursday that it would cut about 1,600 salaried jobs, or roughly 3% of its workforce, as it tries to trim costs and respond faster to rivals and store brands.
Wednesday, June 24
A severe recession will bottom out this year, but any recovery will be weak due to anemic markets and shrunken consumer wealth, the Organization for Economic Cooperation and Development said on Wednesday.
Irvine-based Ista Pharmaceuticals Inc.'s proposed eye allergy drops didn't cause serious safety problems in clinical trials, Food and Drug Adminisration reviewers said in documents released Wednesday.
A second shareholder advisory group has come out with a report against Irvine-based Broadcom Corp.'s proposals that would change board members and make it easier to acquire Costa Mesa's Emulex Corp.
An unexpected jump in durable goods orders last month backed hopes that the economy was healing, but news from the hard-hit housing market remained mixed.
The Federal Reserve is expected to emphasize the economy's fragile state in a policy statement on Wednesday as it talks down expectations for a rate hike this year and holds fire on expanding asset purchases.
Tuesday, June 23
Sales of previously owned homes rose at a slower-than-expected pace in May, an industry survey showed on Tuesday, pointing to a sluggish recovery from the severe economic recession.
Fuel Systems Solutions Inc., a maker of kits to convert cars to run on propane and natural gas that's moving from Santa Ana to New York, plans to raise $30 million by selling stock to institutional investors.
Orange Coast Memorial Medical Center in Fountain Valley is wrapping up work on a $50 million expansion.
Boeing Co. on Tuesday said the first test flight of its long-delayed 787 Dreamliner would be postponed again, a move sure to disappoint investors and customers who have ordered the revolutionary carbon-composite aircraft.
Edwards Lifesciences Corp. said Tuesday that it's selling medical devices that help patients with malfunctioning kidneys to Baxter International Inc. for $65 million.
Ford Motor Co. will receive nearly $5.9 billion in government loans to spur development of more fuel-efficient vehicles, the Obama administration said on Tuesday.
Monday, June 22
Tacos, cars, life insurance and Botox drive an estimated $3 billion in yearly advertising by local companies
Apple Inc. said it had sold more than 1 million of its newest iPhone in the first three days of launch, beating analysts' expectations for the 3GS smartphone's debut.
El Pollo Loco has aired its latest commercial in an ongoing game of chicken with KFC, in the Media & Marketing column
Seal Beach-based Clean Energy Fuels Corp., a provider of natural gas for trucks, announced Monday it would sell 6 million shares of its stock in a public offering.
Construction Cos. Saw Drop In Revenue, Contract Value
IOGear is chasing sales among tech-savvy consumers who want to use their TVs as extensions of their computers
How commercial developers saw a 55% drop in business last year
Emmes Group has found itself the owner of one of OC's most prominent buildings
Why the current market is like the "Fight Night" event that NAIOP sponsors, in Real Estate Watch
The University of California, Irvine's Henry Samueli School of Engineering on Monday named Steven George as the founding director of its Edwards Lifesciences Center for Advanced Cardiovascular Technology.
UnitedHealth saw its stock slide earlier this month over concerns that its bid to win Medicare contracts would ding profits, in the Healthcare column
Orange Coast Memorial Medical Center is wrapping up work on a $50 million expansion
A look at what Valeant may do with a skin cancer cream that has been found to reduce wrinkles
The county's two dominant medical scanning companies are taking different paths in search of growth
A local manufacturer that purposely stayed small is finding a bit of comfort in a larger headquarters, in the Small Business column
Q & A; with local experts on what they expect for the future; how construction companies saw a 7% drop in business in 2008
Akio Toyoda takes charge at Toyota Motor Corp. this week with the company facing its biggest ever loss, but few expect his appointment to bring about the changes needed to drive the world's No.1 automaker back into the black.
Vizio eked out a win in an ongoing battle over chip patents with Funai Electric, in the Technology column
Shareholders of frozen food maker Bridgford Foods aren't feeling the chill these days
Sperry Van Ness still has an active Orange County presence and is looking to hire, in the Real Estate column
A new report based on a survey of small- to mid-sized manufacturers has found that 44% of the companies plan to begin hiring workers again as soon as next year if the economy rebounds as they expect.
A Foster City-based solar startup is making a local push and hiring OC workers
A shareholder advisory group has come out against a set of proposals by Irvine-based Broadcom Corp. that would make it easier to acquire Costa Mesa's Emulex Corp.
A pair has launched an Internet news site after being unable to buy The Daily Pilot from bankrupt Tribune Co
Laura's House of Treasures Thrift Store has reopened in Lake Forest, in the Marketplace column
Friday, June 19
An offshoot of Newport Beach-based cabinetmaker RSI Home Products Inc. has gotten into homebuilding with plans for inexpensive, easy-to-build homes.
Irvine-based developer SunCal Cos. is delaying until next year a vote on its plans to redevelop a former Naval base in Northern California.
The county continued to lose jobs at a dramatic pace on par with the worst of the 1990s recession in May, according to the state Employment Development Department.
Switzerland and the United States have reached agreement on a double taxation treaty, the Swiss finance ministry said on Friday, a key step toward removal from a list of tax havens.
Research In Motion offered investors an outlook on Thursday that fell short of some expectations, sending the BlackBerry maker's stock sliding 5% even as the company reported a higher quarterly profit that topped forecasts.
Texas billionaire Allen Stanford and four associates were indicted on fraud and obstruction charges in a $7 billion pyramid scheme to bilk investors, the Justice Department said on Friday.
Thursday, June 18
Irvine-based Allergan Inc. said Thursday that the Food and Drug Administration approved its eye implant for treating retinal disease.
San Clemente-based Sunstone Hotel Investors Inc. said Thursday it's completed the sale of a Riverside hotel for $19.3 million.
The total number of people on the unemployment insurance rolls dropped for the first time since early January, the government said Thursday, while new claims for benefits rose slightly.
A private research group's forecast of economic activity rose in May by the largest amount in more than five years, the latest sign that the recession is easing.
Irvine chipmaker Broadcom Corp. has extended for a second time its offer to acquire Costa Mesa's Emulex Corp.
Treasury Secretary Tim Geithner urged Congress to act quickly on the Obama administration's regulatory reform proposals, saying past efforts had started too late after the will to act had faded.
Wednesday, June 17
Anaheim-based Pacific Sunwear of California Inc. has tapped a former Vans Inc. executive to lead the mall retailer as it works through a turnaround.
FedEx Corp reported a larger quarterly loss on Wednesday and gave an outlook well below Wall Street estimates for the current period, citing the recession's impact on package volumes and rising fuel costs that will hit its bottom line.
The parent company of the Orange County Register has picked a former newspaper publisher and wire service chairman to be its interim chief executive.
Orange County's median home price jumped $30,000 in May, thanks in large part to an increase in sales of more expensive homes and fewer foreclosure sales.
President Barack Obama will lay out on Wednesday his vision for reshaping financial regulation, aiming to tighten oversight of the largest firms whose excessive risk-taking triggered a global recession.
The county won't likely start gaining jobs again until the middle of next year, according to economists at Chapman University.
Watson Pharmaceuticals Inc. said on Wednesday that it would buy privately held Arrow Group for $1.75 billion, clinching a long-expected deal by the generic drugmaker to expand internationally.
Tuesday, June 16
An engine deal from Abu Dhabi's Etihad Airways worth more than $5 billion could be the biggest news to come from this week's Paris Air Show, where the global recession has frozen sales of planes from Airbus or Boeing Co.
Best Buy Co. posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and also implied earnings for the rest of the year would be worse than forecast, dragging its shares down 3%.
Executives at the failed savings and loan of Newport Beach-based Downey Financial Corp. ignored government warnings about risky loans, ultimately leading to the thrift's November failure, according to a report Tuesday.
Shares of Santa Ana's STEC Inc., a maker of flash drives for corporate and industrial uses, soared Tuesday after the company upped its outlook for the current quarter.
New housing starts and permits surged in May from record lows, while producer prices rose at a slower pace despite higher gasoline prices, boosting prospects for the economy's recovery from recession.
Shares of Irvine-based Sun Healthcare Group Inc., an operator of nursing homes, rose Tuesday after an analyst upgraded the company.
Monday, June 15
Quiksilver has struck what could be a lifesaving investment and loan deal
A look at Allergan's plans for a 250,000-square-foot addition to its campus
Microsemi broke its long streak of rolling up small makers of chips that cater to military, aerospace and industrial uses
How "Twilight" has boosted sales at Billabong and BB Dakota
The St. Regis is making moves to improve its customer service, even as its owners are prepping to turn over the keys to the resort, in the Media & Marketing column
Why venture capitalists invested more money in local companies in 2008 than they did in 2007
North and Central County had a rough first quarter, in Real Estate Watch.
An offshoot of cabinet maker RSI Home Products has made its debut in homebuilding
Ex-Socialite Ready For Biz Spotlight; Forbes Finds Fisker
Alphabetical listing of Orange County Equipment Leasing, Financing firms
Six Flags Inc. will not sell assets or reduce its workforce as a result of its Chapter 11 bankruptcy filing this weekend, the theme park operator's chief executive told CNBC on Monday.
The International Monetary Fund on Monday said a heavy dose of stimulus would ease the recession this year and lift growth marginally in 2010.
The latest in OC's dining scene, in the Executive Dining column
The commercial aircraft chief of planemaker Boeing expects growth to return to the industry in the middle of next year, he told a news conference at the Pairs Air Show on Monday. The recovery would be in both air freight and air traffic, though the big qu
It looks as if battle lines are being drawn in Freedom Communications' boardroom over potential chief executive replacements
A look at Skyworks Solutions' recent local acquisition
A look at an intricate local business deal that involved bartering, in the Technology column
Allergan Inc., maker of Botox and other drugs, has filed plans with Irvine officials to build a 250,000-square-foot, four-story office tower at its campus near John Wayne Airport.
Why local banks are bracing for potential problems with commercial real estate loans
A cream made by Aliso Viejo-based Valeant Pharmaceuticals International to treat the early signs of skin cancer also may reduce wrinkles, researchers said Monday.
Sunstone Hotel Investors became the first publicly traded hotel owner in the downturn to hand back keys to a lender
The recent sale of IDM Pharma could speak to a new trend in the drug and medical device industry, in the Healthcare column
Los Angeles-based Maguire Properties Inc. said Monday it sold its trophy office property in Orange County, Irvine's 3161 Michelson tower, to the Emmes Group of Cos., a privately owned real estate investment company based in New York.
It's been a busy month for sales of some of OC's larger apartment complexes, in the Real Estate column
A calculated gamble by the debt holder of the St. Regis appears to be behind the foreclosure push on the hotel
Friday, June 12
Shares of Newport Beach agricultural chemical specialist American Vanguard Corp. were up 10% Friday after making an adjustment to its sales team.
Three Boston businessmen, including a member of the family that used to own The Boston Globe, have emerged as suitors for the 137-year-old daily newspaper that The New York Times Co. is trying to sell, the Globe reported on Friday.
General Motors is close to selling loss-making Swedish unit Saab after tiny supercar maker Koenigsegg agreed to ride to the rescue, a source familiar with the talks told Reuters.
Skyworks Solutions Inc., a chipmaker that has an office in Newport Beach, expanded its business of selling chips to makers of low- cost cell phones with a recent local acquisition.
BlackRock has agreed to buy Barclays Global Investors to create the world's biggest asset manager in a $13.5 billion deal that British bank Barclays hopes will put to rest concerns about its capital.
Irvine heart valve maker Edwards Lifesciences Corp. said Friday that a British court determined that it did not infringe on a less-invasive heart valve patent held by Cook Inc.
Thursday, June 11
Qualcomm Inc. raised its current-quarter profit and revenue targets on stronger sales of mobile phone chips, but its warning that shipments would fall next quarter dampened investor enthusiasm.
Disk drive maker Western Digital Corp. and military body armor supplier Ceradyne Inc. are suing bankrupt investment bank Lehman Brothers Holdings Inc. for nearly $200 million over investment deals they say went bad.
Mortgage rates leaped with bond yields in the past week to the highest since November, erasing strides made by a massive government program to help revive housing.
Local banks are on the menu for a Pennsylvania investor with a partner stationed in Irvine. Context Capital Partners, based just outside of Philadelphia, has invested in four Orange County-based banks as part of its bid to buy stakes in small banks it hop
Two Daily Pilot veterans have launched a daily Internet news site for Newport Beach and Costa Mesa.
Aircraft maker Boeing has slashed its forecasts for new plane demand due to the industry downturn, and said it was focused on delivering existing orders rather than chasing new ones.
Wednesday, June 10
Spiking mortgage rates drove down total home loan applications last week as demand for refinancing shriveled to the lowest level since November, the Mortgage Bankers Association said on Wednesday.
Home Depot Inc. said earnings could be flat this year, rather than falling as it previously forecast, saying the worst of the housing correction had passed.
Dana Point's ritzy St. Regis Monarch Beach Resort will get a new owner next month if a foreclosure-driven sale moves forward.
Shares of Santa Ana-based STEC Inc. fell Wednesday after an analyst downgraded the stock.
Foothill Ranch-based nursing home operator Skilled Healthcare Group Inc. plans to restate more than three years of financial results to correct accounting mistakes by a former employee, the company said Wednesday.
Italian carmaker Fiat SpA closed its takeover of Chrysler on Wednesday, sealing the deal on Fiat's ambitious move to create a growing global player following one of the worst crises in the auto industry's history.
Tuesday, June 9
Costa Mesa-based military body armor maker Ceradyne Inc. on Tuesday cut its 2009 earnings forecast in half on lower sales expectations for its bulletproof vests.
Government officials on Tuesday gave 10 of the nation's biggest banks approval to pay back a combined $68 billion of taxpayer money pumped into them to combat the credit crisis.
Consumer confidence rose in June, mirroring the strong gains the stock market has made since early March, a survey released on Tuesday said.
Costa Mesa-based networking electronics maker Emulex Corp. set its 2009 annual meeting for November against the backdrop of a hostile takeover bid by Irvine's Broadcom Corp.
Huntington Beach-based Quiksilver Inc. said Monday it struck what could be a lifesaving investment and loan deal. But investors Tuesday quickly turned their attention to the deal's cost and the clothing maker's outlook, which wasn't as encouraging.
General Motors Corp. said on Tuesday that former chairman and chief executive of AT & T; Inc. Edward Whitacre will become chairman of the restructured automaker later this summer.
Monday, June 8
A chip startup that's flown under the radar for a few years now is trying to make its name known
Congrats and Mansion Requests for Flanders; Nick's Night Out
A local company has launched a second Web site with simple games as part of its bid to grab a slice of a growing market
Venture Capitalists Are Investing Cautiously; Cos. Need Proven Business Plans, Experience
A medical office building is coming to Aliso Viejo, in the Healthcare column
San Clemente-based Sunstone Hotel Investors Inc. is set to turn over the W Hotel in San Diego rather than continue paying interest on the building after failing to rework terms of its loan.
A look at Analog Clothing, which is part of Burton Snowboards
Consumer Spending Holds Out for Flat TVs, Blu-ray DVD Players, Less Pricey Netbooks
South County saw negative absorption in the first quarter, in Real Estate Watch
Investors worry uptick in orders could be short lived
The recession is helping Mesa Safe grow, in the Small Business column
McDonald's Corp. on Monday reported a 5.1% increase in May sales at restaurants open at least 13 months, with demand strong in Europe and Asia/Pacific.
How Cal State Fullerton is coping with California's budget cuts
Barclays PLC is in talks to sell Barclays Global Investors, the British bank said on Monday, with fund manager BlackRock the frontrunner to land the asset manager for about $12 billion.
Commissions paid to the area's top brokers are piquing the interest of many, in the Real Estate column
A look at Grubb & Ellis' wild year and what's ahead for the broker and investor
While in London, the Business Journal's editor was amused by Britain's political scandals
Western Digital sees better-than-expected market conditions for the June quarter, in the Technology column
Lantronix is looking to connect with customers through a social networking advertising campaign, in the Media & Marketing column
Shares of Newport Beach-based chipmaker Mindspeed Technologies Inc. jumped Monday after the company increased its outlook for the current quarter.
Indiana pension funds and consumer groups asked the Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.
Irvine-based Microsemi Corp., which makes chips for military, aerospace and industrial uses, said Monday it purchased Irvine-based Nexsem Inc., a startup maker of chips that manage power in consumer electronics.
Irvine medical device maker Endocare Inc. is being acquired for $16 million by HealthTronics Inc. of Austin, Texas.
Local automakers and dealers got some hopeful news recently, in the Marketplace column
Friday, June 5
Employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was the most definitive evidence the economy's severe weakness was diminishing.
Sales fall 4.6% in the month compared with the same period last year. Department stores and teen apparel chains, especially those selling higher-end merchandise, fare the worst.
Project to build a path along river channel waits as city, company negotiate.
The Federal Deposit Insurance Corp. is aiming at a shake-up of Citigroup Inc.'s top management, including replacing Chief Executive Vikram Pandit, the Wall Street Journal said, citing people familiar with the matter.
An analyst threw cold water on a three-month rally for Costa Mesa-based Volcom Inc. by downgrading the stock, a move that sent the shares down 8% near the close of New York trading.
Shares of Foothill Ranch-based mall store operator Wet Seal Inc. were up Friday, a day after reporting May sales results that were better than analysts expected.
PALMDALE - Palmdale Water District employees will be surveyed about their preferences - among layoffs, furloughs, cuts in benefits and other options - as ways to cut $700,000 in spending by October.
Betty Belts, a Ventura business built on principles of social and environmental good, today could win an Intuit small-business grant that the owner said would let her expand her business.
There are rumblings of building sales again in Orange County's office market. After seeing only a smattering of big-dollar office sales so far this year, OC saw its two biggest sales of 2009 close within a day of each other last week.
General Motors Corp. has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday.
Thursday, June 4
Foothill Ranch-based mall store operator Wet Seal Inc. saw sales at stores open at least a year fall 8.4% in May, but that was better than what Wall Street had expected.
Global trade may contract by more than 6% in 2009 but could return to positive growth next year, World Bank chief economist Justin Lin said on Thursday.
Shoppers searched for bargains and basics in May, leading many retailers to miss sales expectations on Thursday even though the bar was set pretty low for most chains.
Federal regulators have charged former Countrywide Financial Corp. chief executive Angelo Mozilo and two other former executives with civil fraud for failing to disclose to shareholders the deteriorating state of the mortgage lender's business shortly bef
Discounter Wal-Mart Stores Inc. says it will add more than 22,000 jobs in its U.S. namesake stores in 2009.
Emulex Corp. again urged shareholders Thursday to disregard the latest takeover appeals by Irvine chipmaker Broadcom Corp., which is seeking to buy the Costa Mesa-based maker of electronics for data storage networks for $764 million.
Irvine-based chipmaker Broadcom Corp. has extended by two weeks its offer to acquire shares of Costa Mesa's Emulex Corp. after nearly all of the company's shareholders passed on selling.
Guess Inc. said its net income fell 32 percent in its fiscal first quarter, which beat Wall Street expectations. The apparel company also gave a brighter outlook for the current quarter.
Wednesday, June 3
In a continuation of a month-long war of words, Broadcom Corp. fired back at Emulex Corp. on Wednesday by urging the company's shareholders to disregard repeated requests by management to ignore takeover appeals by the Irvine chipmaker.
Irvine Company Chairman Donald Bren has endorsed former eBay Inc. chief executive Meg Whitman in her run for governor of California, her campaign said Wednesday.
Mortgage applications fell last week, reflecting a plunge in demand for home refinancing loans as interest rates surged to their highest levels since late January, data from an industry group showed on Wednesday.
Broadcom Corp. Chief Executive Scott McGregor told investors and analysts Wednesday that he plans to hold down expenses until the company sees a sustained surge in orders for its chips.
A Court of Appeals agreed on Tuesday to hear a challenge to Chrysler LLC's sale of most of its assets to a group led by Italian automaker Fiat, in a move that could potentially delay the deal.
Federal Reserve Chairman Ben Bernanke warned on Wednesday that rising debt was contributing to a spike in longer-term interest rates, and said now was the time to start working on reining in deficits.
An industrial development is slated to be built in east Anaheim, adding more warehouse and distribution space to a local market that's facing its toughest leasing environment in several years.
Tuesday, June 2
Abbey Co., a Long Beach-based real estate investor, is buying the City Parkway office towers in Orange from Maguire Properties Inc., the Los Angeles-based landlord said on Tuesday.
If it's Tuesday, there must be a new salvo in the increasingly nasty war of words between Emulex Corp. and rebuffed suitor Broadcom Corp.
General Motors Corp. said it had reached a preliminary deal to sell its Hummer brand, part of its effort to shed half of its eight lines and leave bankruptcy court protection as a leaner company.
Pending sales of previously owned homes in April unexpectedly saw their biggest monthly gain in 7-1/2 years, a report from a trade group on Tuesday showed, buttressing views the recession was easing.
Bank of America Corp., JPMorgan Chase & Co. and several other banks said they have raised more than $19 billion as lenders scramble to extricate themselves from Washington's grip.
Woburn, Mass.-based chipmaker Skyworks Solutions Inc., which has operations in Irvine, said Tuesday it bought a smaller rival, Irvine-based startup Axiom Microdevices Inc.
Fountain Valley-based Hyundai Motor America and sister company Kia Motor America Inc. of Irvine fared better than most automakers again in May.
Monday, June 1
A local real estate investor run by a brother of tennis great Michael Chang is launching a new fund, in the Real Estate column
Less-invasive heart valves took center stage at a recent European trade show, in the Healthcare column
Aliso Viejo-based Valeant Pharmaceuticals International reported final trial results for a hepatitis C treatment that it said showed the drug to be as effective as the standard treatment and signed a deal with Schering-Plough Corp. to develop and market t
Booster group Octane has a new chief executive, in the Technology column
Consumer spending fell in April from March, despite personal income posting the largest increase in 11 months, a government report said on Monday, showing activity in the second quarter getting off to a slow start.
Susan Johnson - the founder of a company that delivers healthy meals.
Renee Gabbard - a tax and estate planning lawyer
General Motors Corp. filed for bankruptcy on Monday, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership.
Construction spending unexpectedly posted its biggest increase in eight months in April, advancing for a second straight month as the private sector put money into both residential and nonresidential projects, according to a government report on Monday.
Costa Mesa's Emulex Corp. took a shot at Broadcom Corp. in a lawsuit filed Monday in Santa Ana federal court.
Freedom Communications Inc. Chief Executive Scott Flanders has taken the top job at Playboy Enterprises Inc. after weeks of speculation about a possible move.
Irvine-based chip startup WiSpry Inc., which makes chips for cell phones, said Tuesday it added another $10 million to its third round of venture funding for a total of $20 million.
OC's Fiscal Image: Chump to Champ; Temporary Turquoise
A local real estate investor run by a brother of tennis great Michael Chang is launching a new fund, in the Real Estate column
What TriZetto has been up to after going private last summer
United Fuel & Energy's move to Orange was a bid for better executive talent
Kingston is betting on consumers' appetites to upgrade slow and aging computers instead of buying new ones
Orange's City Plaza tower has landed its most notable tenant since changing owners late last year
Fluor has high hopes for its Irvine-based renewable energy department
Sage Software has launched a social media business-to-business Web site, in the Media & Marketing column
Torrance-based Transpacific Development Co. said on Monday it bought the Irvine Spectrum office complex that's served as the West Coast headquarters for Ford Motor Co. and which is about to become the headquarters for Irvine-based Taco Bell Corp.
Gena Reed - the founder of a company that runs clinical trials for drug makers