Stories for February 2010

Friday, February 26

Action Sports Clothing Conference: Don't Chase Fast Fashion

Makers of surf-inspired and other action sports should stick to what they do best as they go after the large, yet fickle market of teen girls and young women.

Carl's Jr. Parent Going Private in $928M Deal

The parent of Carl’s Jr.—which got its start in Anaheim and still has major operations there—is being acquired and taken private in a deal valued at $928 million.

Thursday, February 25

Volcom Handily Tops Profit Estimate, Offers Upbeat Forecast

Costa Mesa-based clothing maker Volcom Inc. reported a fourth-quarter profit Thursday that was well beyond what Wall Street was looking for and offered a generally upbeat outlook for the current quarter.

Smith Micro Jumps on Outlook, Defies Gloomy Day on Wall Street

Shares of Smith Micro Software Inc., a maker of software for cell phones and other mobile devices, defied a down day on Wall Street Thursday, a day after the company narrowed its sales outlook for the balance of the year.

First American Swings to Profit, Updates Spinoff

Santa Ana-based title insurer and data services company First American Corp. reported a profit and sales in line with Wall Street estimates Thursday and said it hopes to complete a long-planned spinoff by June 1.

Wednesday, February 24

STEC's Shares Continue Freefall on Analyst Downgrades

The bloodbath at Santa Ana’s STEC Inc., a maker of flash memory drives for corporate and industrial uses, continued on Wednesday, a day after the company gave a dismal outlook for the current quarter that prompted a slew of analysts to slash their ratings on the stock.

Lake Forest Chip Startup Newport Media Raises $15M

Lake Forest-based Newport Media Inc., a startup maker of chips for digital audio and mobile TV, said Wednesday it landed $15 million in a round of venture funding.

Aliso Viejo Software Startup 3Tera Acquired

Aliso Viejo’s 3Tera Inc., a startup maker of cloud computing software, was acquired Wednesday by technology services kingpin CA Inc. for disclosed terms.

Report: Santa Ana's Griffin Towers Selling for $90M

Los Angeles-based Maguire Properties Inc. has reached an agreement to sell the Griffin Towers office complex in Santa Ana, according to a report in the Wall Street Journal.

Tuesday, February 23

Sunstone Profit Measure Edges Wall Street Expectation

San Clemente-based hotel owner Sunstone Hotel Investors Inc. reported a fourth-quarter profit slightly ahead of Wall Street’s expectation while revenue came in just shy.

Home Prices Drop $15,000 in January

The median price of an existing Orange County home declined by more than $15,000 in January from December, thanks in large part to an influx of first-time home buyers snapping up more affordable homes, the California Association of Realtors said on Tuesday.

STEC Slumps on Outlook

Shares of Santa Ana’s STEC Inc., a maker of flash memory drives for corporate and industrial uses, tanked on Tuesday after it gave an outlook for the current quarter that fell well short of Wall Street’s expectations.

STEC Slumps on Outlook

Shares of Santa Ana’s STEC Inc., a maker of flash memory drives for corporate and industrial uses, tanked on Tuesday after it gave an outlook for the current quarter that fell well short of Wall Street’s expectations.

Ceradyne Meets Lowered Profit Expectation, Reaffirms 2010 Outlook

Costa Mesa-based Ceradyne Inc., a maker of bulletproof vests and other products, reported a fourth-quarter profit Tuesday that topped Wall Street’s lowered expectation.

Monday, February 22

U.S. Supreme Court Declines To Hear Pimco Lawsuit

A move by Newport Beach-based Pacific Investment Management Co. to halt a class-action lawsuit charging manipulation of futures markets was rejected Monday by the U.S. Supreme Court.

Vizio Nearly Doubled TV sales in 2009

Irvine’s Vizio Inc., which designs and markets high-definition televisions, nearly doubled its TV sales in 2009, according to reports.

Valeant Beats Expectations, Confirms 2010 Profit Outlook

Valeant Pharmaceuticals International on Monday reported fourth-quarter results that beat expectations and reaffirmed its 2010 profit outlook.

Price of Private

Private Schools See Surge in Applications, Upping Financial Aid to Accommodate Students

With public school cutbacks, private schools are seeing a surge in applications

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Downtown Disney, Sanuk in Negotiations to Move Store

Fresh & Easy Could Be Coming to Costa Mesa Courtyards; Family Classic Cars Adds to Staff

Sandal maker Sanuk is in negotiations to move its store within Downtown Disney, in the Marketplace column by Sherri Cruz

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Legacy Handoff

Irrelevant Week Founder Looks To Pass On NFL Institution

SPORTS - Paul Salata has become a football legend, and not for a brief stint in the NFL

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Costa Mesa Nonprofit Enlists Volunteers, Board to Feed Poor

A look at local nonprofit Serving People in Need

Musco’s Relief Pod Helps in Haiti; Samueli Takes Train

OC Insider column by Rick Reiff

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Born from IndyMac Ashes, OneWest Lays Plans for Expansion

OneWest Bank became Southern California’s largest depository institution by assets after December’s blockbuster acquisition of FirstFed Financial Corp.

Bank Tellers

Local Executives on County’s Reworked Banking Market

What some local bankers believe will happen in their industry in the coming years

Smaller Savings and Loan Pack Regroups, Sees Gain in Deposits

What’s going on in the local thrift scene.

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Local Consolidation Nears Peak; Locals May Be Regional Buyers

Some believe OC is immune to the continuing bank failures expected to play out this year

BofA Reclaims Lead; Fewer Deals, Integration Plays Out

FINANCE: Banks here at $64B in deposits, top 10 comprises 80%

The tale of commercial banking in Orange County has become one of size

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One Year Out

Banking’s Epic Transformation Continues, New Era Starts Settling In

Not all of the dust has settled from the epic reshuffling of the local banking market that started in late 2008.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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Retail Market’s Seeing Some Promise in January After Tough 2009

The retail market is seeing some promise after a tough 2009, in Real Estate Watch

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Research Director Emily Weisburg Hits the Slopes

Research Director Emily Weisburg Hits the Slopes

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Wieder the Leader


Some local executives and politicians look back on the life of the late Harriett Wieder, in Viewpoint

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Hirings, promotions and other moves at local businesses


This past week’s news from and other sources

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Auto Club Looks To Add 100-Plus

SERVICES: Company hiring in insurance sales, roadside services

AAA of Southern California is looking to hire more than 100 people in the next three months

Lung Device Maker Raised $50M, Eyes 2015 U.S. Sales

HEALTHCARE: Rox Medical eyes Europe sales, more funding

A look at a local maker of medical devices for respiratory diseases that has raised nearly $50 million

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Appliance Maker HQ Moves to Costa Mesa

REAL ESTATE: Estimated $200M in sales, brings 60 from Diamond Bar

Appliance maker Dacor moved its headquarters from Diamond Bar to Costa Mesa last week

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Orange Landlords Drop Office Rents, Get Leases

REAL ESTATE: Hudson Capital, Milan bring buildings to 90% full

Two Central County landlords are undercutting rents to fill space

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Ista Set To Turn First Yearly Profit on Drug Sales

HEALTHCARE: Eye drug maker expands Bepreve, Wall St. approves

DRUGS - Ista Pharmaceuticals says it will turn its first full-year profit in its nearly 20-year existence

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Patent Defender Acacia Embraces Industry Retort to Business Model

A local patent licensing company seems to be benefitting from a new crop of businesses called buying clubs

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After Misses, Epicor Cautiously Upbeat

SOFTWARE: Analysts wait for sustained recovery

SOFTWARE - It’s been a bit more than a year since Chief Executive George Klaus has been back at the helm of Epicor

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Vacant New Offices Land Two Tenants

REAL ESTATE: Henkel, Tetra Tech take 135,000 square feet, stay in Irvine

Two midsize Irvine offices built at the onset of the recession finally are feeling the love

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Court Maintains Medtronic Heart Valves Don’t Infringe

Lemaitre Joins VC Co. to Start Medical Device Fund; Apria Cuts, Outsources Jobs in Fla.

KBS Realty Advisors has another real estate investment trust in the works, in the Real Estate column by Mark Mueller

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Court Maintains Medtronic Heart Valves Don’t Infringe

Lemaitre Joins VC Co. to Start Medical Device Fund; Apria Cuts, Outsources Jobs in Fla.

A German appellate court recently upheld a favorable patent ruling for Edwards rival CoreValve, in the Healthcare column by Vita Reed

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Kingston Sees 2009 Sales Up Slightly on Demand, Prices

Blizzard Now Testing Delayed ‘StarCraft II’ Game; WebVisible Lands $20 Million Funding

Kingston reported a small rise in 2009 sales, in the Technology column by Sarah Tolkoff

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El Pollo Loco Changes Spokesman from Actor to Flame

Costa Mesa’s T3 Motion Gets Unexpected Publicity Boost from Audi’s Green Super Bowl Ad

El Pollo Loco is updating its spokesman, in the Media and Marketing column by Michael Volpe

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Projects, developments and other activity in cities in and around OC

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Friday, February 19

Billabong Parent Sees Lower Sales, Profit

The Australian parent of Irvine clothing maker Billabong USA reported lower sales and profits for the six months through December citing weak North American sales and the effect of a stronger Australian dollar.

Thursday, February 18

Ingram Micro Rises on Results

Shares of Santa Ana’s Ingram Micro Inc., the top distributor of computer products, software and consumer electronics, rose on Thursday after the company reported fourth-quarter results that beat Wall Street’s expectations.

Grubb & Ellis Swings to Quarterly Profit

Santa Ana-based Grubb & Ellis Co. returned to profitability in the fourth quarter, thanks in part to a refinancing plan that helped boost its bottom line.

Chip Gear Maker Moving Manufacturing from Irvine to Asia

A Pennsylvania maker of gear to produce chips is shifting most manufacturing done at an Irvine plant to Malaysia and Singapore, laying off 56 people.

Wednesday, February 17

UBS, Wells Fargo Upgrade Quality Systems

Shares of Quality Systems Inc., an Irvine maker of software that doctors and dentists use to manage their practices, rose slightly Wednesday after an analyst upgraded the company.

Former Disneyland Head Lands at Virginia Business School

The former president of the Disneyland Resort in Anaheim has landed a new gig as dean of the Virginia Commonwealth University School of Business in Richmond, Va.

Masimo Shares Down on Lower Guidance

Shares of Irvine-based Masimo Corp. were down about 8% in midday trading Wednesday likely after giving a profit forecast below Wall Street's expectations.

Tuesday, February 16

STEC Slumps on Downgrade

Shares of Santa Ana’s STEC Inc., a maker of flash memory drives for corporate and industrial uses, slumped Tuesday after an analyst downgraded the stock on concerns about slowing orders from its top customer.

Retailer Pacific Sunwear Adds Merchandise VP

The new chief executive of Anaheim-based mall retailer Pacific Sunwear of California Inc. has made his second key hire in as many months.

Tower Boosting Production at Newport Beach Chip Plant

Israel’s Tower Semiconductor Ltd. said Tuesday it’s expanding production of silicon wafers for chips at its Newport Beach plant.

Monday, February 15

Local Bat Maker Sees Big Revenue Jump, Sells to MLB

Bella Collina Golf Members Get Business Services; Costa Mesa Resident Starts Swimsuit Line

Trinity Bat in Fullerton just got its first big supply of wood to kick off a new baseball season, in the Small Business column

A/V Ranch

Extron Founder Blends Country, Technology in Anaheim

Meet the man behind Extron Electronics, an Anaheim-based maker of electronics

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Manufacturing Costs Rise as Sales Stay Soft

ECONOMY: Recovery sees rise in materials prices, yet sales lag

The budding recovery is proving to be a double-edged sword for manufacturers

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Slow Recovery, Rivals Cause Allergan Pause

HEALTHCARE: CEO Pyott is more cautious than usual for 2010

Why the maker of Botox and other drugs is being conservative about 2010

All-Star Largesse: Angels Giving ‘Seven Figures’ to Charities

SPORTS: MLB, team handing out estimated $2M tied to July game

Major League Baseball gave the Angels $2 million to distribute to local nonprofits as part of the 2010 All-Star Game

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Ruby’s Diner Opening Drive-In in Anaheim

Irvine-based Ruby’s Diner Inc., operator of a chain of 1940s-style diners, plans to open its first drive-in restaurant in Anaheim this spring.

Agran, Teller Have ‘Social’ Lunch; From Pimco to Citigroup

OC Insider Column by Rick Reiff

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Revamped Conexant Early 2010 Stock Star

TECHNOLOGY: Chipmaker sees restructuring pay off on Wall Street

Conexant has been on a tear after a year or so of restructuring and aggressively paying down debt

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Two Local Real Estate Cos. Eye $2.7B in Funds

REAL ESTATE: Steadfast, Passco plan to start REITs to buy apartments

Two local companies are targeting $2.7 billion for funds to buy apartments

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Irvine Co., Standard Offer Industry Hope

HOMEBUILDING: Brisk sales for Irvine Co., profit at Standard

The local homebuilding industry has something to cheer about

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Wahoo’s Shifts Growth Plans with Franchisees, 100 Stores in Future

Wahoo’s is expanding via franchisees

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Johnny Rockets CEO Reunites With Colleagues, Aims To Keep Growing

RESTAURANTS: Fuller brings on two execs; promotes new concepts

Johnny Rockets’ new chief executive has gotten the band back together to try to keep growing the 1950s burger chain

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This past week’s news from and other sources


Hirings, promotions and other moves at local businesses

Mission Hospital Launches 'Breast Cancer Ad Campaign

Taco Bell Pushes Charles Barkley Commercials; Rusty Teams with Green Day for Hoodies

Mission Hospital is launching a different kind of heart campaign, in the Media and Marketing column

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Weight Loss Site Lands Funding, CEO from Investor

Brand Affinity Buys Sports Memorabilia Company; Software Maker SpeedTax Adds Sales VP

A startup that runs a Web site for people looking to lose weight recently landed a small venture round and a chief executive, in the Technology column by Sarah Tolkoff

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Allergan Buys Graft Maker to Add to Implant Business

Beckman Closing Texas Plant; UCI Opens Medical Building; St. Joseph-Orange Seeks Chief

Beckman Coulter is closing a plant in a Houston suburb, in the Healthcare column by Vita Reed

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Bixby Land Acquires Another San Diego Office Building

Olen Properties Refinances Part of Industrial Portfolio; Burnham Buys Two Newport Buildings

Bixby Land still is completing a few conventional deals, in the Real Estate column by Mark Mueller

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Low-Rise Office Market Seeing Tenant Activity, Slow Deals

The low-rise office market is seeing tenant activity, but slow deals, in Real Estate Watch

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Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Transparency in Business


Hoag’s chief executive thinks transparency is key, in a Viewpoint


“Fences” at South Coast Repertory in Costa Mesa

Orange County’s Seen Restaurants Close, Few Open

Charlie Palmer Drops into South Coast Location; Antonello Manager Thoret Named Partner

The latest on OC’s dining scene, in the Executive Dining column by Fifi Chao

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New Homebuilders Crop Up, See Land, Materials Deals

REAL ESTATE: Veterans start local cos. at ‘bottom’ of market

OC’s homebuilders saw sales fall in 2009

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Homebuilders Record Fourth Year of Declining Sales

REAL ESTATE: 22% drop in 09, Yorba Linda rebuilding’s bright spot

A look at OC’s crop of young homebuilding companies

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Fundraisers and charitable donations from companies and people

Friday, February 12

Epicor Shares Up After Results, Outlook

Shares of Irvine’s Epicor Software Corp., a maker of business software, rose Friday, a day after the company reported solid fourth-quarter results.

Winter Olympics: Team OC

The winter Olympics opening Friday night in Canada include a number of athletes from Orange County or who now play here.

Thursday, February 11

Report: QLogic Sues Emulex Over Ads

Aliso Viejo’s QLogic Corp. hit rival Emulex Corp. of Costa Mesa with a lawsuit that goes after Emulex for its latest advertising campaign, according to a report.

Beckman Coulter Beats, Reaffirms 2010 Profit View

Beckman Coulter Inc., a Brea maker of medical testing products, reported fourth-quarter results Thursday that surpassed Wall Street’s expectations and reaffirmed its 2010 profit outlook.

Irvine Software Startup WebVisible Nabs $20M

Irvine-based WebVisible Inc., an online advertising search company for small businesses, landed $20 million in a new round of venture funding, according to reports.

Quality Systems Going After Smaller Hospitals with Acquisitions

Irvine-based Quality Systems Inc. is buying a Texas maker of software for hospitals, doctors and medical laboratories.

Wednesday, February 10

Blizzard Subscription Growth Stalled in 2009

Even the hottest sector of video games—multiplayer online games—is feeling the effects of the industry's downturn.

Autobytel Back in Compliance with Nasdaq

Irvine-based automotive marketing company Autobytel Inc. no longer faces the prospect of delisting from the Nasdaq because of its low stock price.

Ruby’s Diner Opening Drive-In Restaurant in Anaheim

Irvine-based Ruby’s Diner Inc. is going retro in Anaheim with its latest restaurant.

Tuesday, February 9

Disney: Park Attendance Up, Anaheim Fares Better Than Florida

Walt Disney Co.’s theme parks in Anaheim and elsewhere saw better attendance in the recently ended quarter, the company said Tuesday.

Analyst Bullish on Ingram Micro

A Wall Street analyst on Tuesday upped his estimates for Santa Ana’s Ingram Micro Inc. on better than anticipated fourth-quarter results, stronger demand and improving corporate spending.

Eye Drug Maker Ista Projects 2010 Profit

Irvine-based eye drug maker Ista Pharmaceuticals Inc. said Tuesday it projects its first profitable year in 2010 with net earnings at least $1 million.

Monday, February 8

Allergan Buys Cosmetic Surgery Products

Allergan Inc., the Irvine-based maker of Botox and other drugs, has bought a cosmetic surgery business from Medford, Mass.-based Serica Technologies Inc. for an undisclosed price.

Irvine Software Maker Kofax Sees Sales Grow, Profits Slip

Irvine’s Kofax PLC, a maker of software that helps businesses cut down on paper and data entry, reported six-month results on Monday in which it saw sales grow and profits shrink.

Kingston Sees $4.1B in 2009 Sales as Memory Market Improves

Kingston Technology Co., the Fountain Valley-based maker of memory products for computers and consumer electronics, reported a small rise in 2009 sales after a year of rebounding prices for memory chips and improving demand.

Back-Alley Fighter

20-Year Veteran Telles Scrapped to Keep Stearns Cos. Mortgage Lending Alive Amid Collapse

Profile of Santa Ana-based Stearns Cos CFO, Bob Telles

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Diedrich’s McCarthy Has Had a Lot To Account for at Coffee Company

Profile of Irvine’s Diedrich Coffee Inc. CFO, Sean McCarthy

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Taiwanese Company Joins Budding Online Game Contingent

TECHNOLOGY: Co. to develop game, cartoon, toys based on game

Irvine is becoming a hub for video game companies that offer free-to-play games online

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Fledgling Hedge Fund Gets $40M Placement

One of the county’s larger hedge fund managers is getting a $40 million multiyear placement from a French investment company

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Roxy Quandary

Surfer Girl Pioneer Adjusts, Waits for Market Turn

Surfer babe Roxy is caught in fast fashion’s riptide

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JPMorgan Set to Leave WaMu Office, Consolidate

FINANCE: Bank staying local, leasing 70,000 sf from Irvine Co.

JPMorgan is moving its local headquarters but staying in Irvine

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2010: Fisker’s High on Funds, Tight on Time

AUTOMOTIVE: Could hybrid car maker be next for a public offering?

Tesla’s recent public filing only has fueled speculation that Irvine’s Fisker might be next in line

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St. Joseph CFO Pulls Through Crash of Auction Rate Market, Downturn

CFO of the Year - Not-For-Profit

Profile of St. Joseph Health System’s Darrin Montalvo

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CFO, Then Some

Metagenics’ Morey Helped With Amway Buyout, Now Interim COO

Profile of Metagenics’ CFO, Jerry Morey

Ask the Experts

Q & A

Q&A with local healthcare execs on possible healthcare reform.

Medical Groups: Reform ‘Catch-Up’ to Own Efforts

HEALTHCARE: Execs cite care quality, electronic medical records

Larger medical groups in OC say they’ve already embraced aspects of healthcare reform

Hospitals See Rebound in Revenue

HEALTHCARE: Better economy led to 404% surge in pretax income

This week’s Business Journal list of largest hospitals reflects a tale of two years.

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Hoag Hospital Transformation: On Schedule, Under Budget

HEALTHCARE: Irvine facility set to see patients in summer, fall

A look at Hoag’s $84 million transformation of the former Irvine Regional Hospital

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Balancing Act

Hospitals Struggle With Caring for Uninsured, Staying Financially Solvent, Wait for Reform

Hospitals are trying to figure out how to take care of their patients and their bottom lines.

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CFOs Honored


Scenes from business, social, charity and other events

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Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

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REAL ESTATE WATCH: High-rise Office Market

Office Market Still Feeling Effects of Recession

The office market is still feeling the effects of the recession, in Real Estate Watch

Irvine’s Crown Realty Loses Arizona Resort to Lender

Centurion Venture Files for Bankruptcy on Aspen Project; Stoneridge Buys Hawaii Shops

A handful of upscale resorts across the U.S. that count OC ties are seeing the effects of the down economy, in the Real Estate column by Mark Mueller

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Spectrum Ends Work on Drug, Gets Payments on Other

Abbott Medical Projected at $1 Billion in Yearly Sales; Diagnostic Testing Rival Going Public

Spectrum Pharmaceuticals last month dropped work on a drug as another one brought in some dividends, in the Healthcare column by Vita Reed

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D-Link Systems Continues Reorganization, Hiring Binge

Local Startup Lands Venture Funding, Moves to Bay Area; Quartics Lands $6.5 Million Round

D-Link Systems has continued reshuffling its executive ranks, in the Technology column by Sarah Tolkoff

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Suzuki Goes Hip-Hop in Campaign for Latest Motorcycle

Sports Marketer in Seal Beach Wraps Up Busy Super Bowl Week; Doing Oscars

American Suzuki is doing some targeted marketing with its latest campaign, in the Media and Marketing column by Michael Volpe

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Whole Foods Proving a Draw for District Retailers

Kia Depot of Santa Ana Among Top Dealers in Country; Dealers Association Names Officers

Whole Foods at The District is proving to be a draw for other retailers, in the Marketplace column by Sherri Cruz

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Projects, developments and other activity in cities in and around OC


Hirings, promotions and other moves at local businesses


This past week’s news from and other sources

Slow Economy Not Stopping These Guys; Gus Owen Returns

OC Insider Column by Rick Reiff

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Sage Software Wraps Up Reworking, Eyes Growth

Sue Swenson’s big turnaround at Irvine’s Sage Software is almost complete

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Empty Condo Towers Could Go Apartment

REAL ESTATE: March close seen for Essex buy of Skyline

Santa Ana’s Skyline at MacArthur Place condominium towers could be converted into apartments if a pending sale closes as expected

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Beckman’s Slacik Sold $800M ‘Tuck-In’ Deal to Wall Street

FINANCE: CFO oversaw tricky $750 million bond, stock offering

Profile of the Business Journal’s CFO of the Year - Charles Slacik of Beckman Coulter Inc.

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Friday, February 5

ASR: More Business, More Boutique

The tough market for surf-inspired and other action sports clothing created a different mood earlier this week at the winter Action Sports Retailer Show—one of less show and more business.

Tech Manufacturers TTM, Powerwave Down on Outlooks

Two local technology companies saw their stocks hammered Friday after they gave conservative outlooks for the current quarter and balance of the year.

Super Bowl Set to See Big OC Advertiser Contingent

Come Sunday, you might think this year’s Super Bowl is brought to you by Orange County.

Thursday, February 4

SEC Drops Pursuit of Suit Against Broadcom Founders

The Securities and Exchange Commission is dropping its pursuit of a lawsuit against the founders of Broadcom Corp. and others a week after a federal judge said he had “serious problems” with the litigation.

Edwards Lifesciences Offers Measured Q1 Outlook

Edwards Lifesciences Corp. of Irvine on Thursday reported a fourth-quarter profit that was in line with expectations and gave a conservative forecast for the current quarter.

Circuit Board Maker Multi-Fineline Slumps on Outlook

Shares of Anaheim’s Multi-Fineline Electronix Inc., a maker of flexible circuit boards for cell phones and other mobile devices, slumped Thursday after the company narrowed its sales outlook for the current quarter and said revenue may come in below Wall Street’s expectations.

Wet Seal Jan. Sales in Line, Ups Profit Forecast

Foothill Ranch-based clothing retailer Wet Seal Inc. said sales last month fell in line with Wall Street expectations and upped its profit forecast for three months through January.

Allergan Lowers Q1 Outlook, Tepid on 2010

Irvine drug maker Allergan Inc. reported fourth-quarter results that topped what Wall Street expected but warned of a big profit shortfall for the current quarter.

Wednesday, February 3

Debt Rater Adjusts Pacific Life on Prospect of Investment Losses

Fitch Ratings Inc. lowered its credit ratings on Newport Beach-based Pacific Life Insurance Co. and its parent company and predicts more investment losses for the life insurer.

Standard Pacific Posts Quarterly Profit

Standard Pacific Corp. reported a fourth-quarter profit of $82.7 million on Wednesday, the first time the Irvine-based homebuilder has posted a quarterly profit in several years.

Busy Day for Broadcom: Results, Regular Dividends, Acquisition

Irvine-based chipmaker Broadcom Corp. on Wednesday reported fourth-quarter earnings that beat Wall Street’s expectations but didn’t impress investors.

Tuesday, February 2

Spectrum Licenses Potential Cancer Drug

Irvine cancer drug maker Spectrum Pharmaceuticals Inc. said Tuesday it’s paying $30 million plus future payments to license a potential cancer drug.

Quest Tops Expectations; Investors Yawn

Aliso Viejo-based Quest Software Inc., a maker of business software, on Tuesday reported results for the fourth quarter that were down from a year earlier but slightly ahead of Wall Street’s outlook.

Corinthian Tops Expectations, Ups Guidance

Santa Ana-based vocational school operator Corinthian Colleges Inc. topped Wall Street expectations with results for the recently ended quarter and upped its outlook for the current one and 12 months through September.

Monday, February 1

Steelbergs' Brand Affinity Technologies Makes Acquisition

Irvine-based Brand Affinity Technologies Inc., an advertising startup with technology that aims to automate celebrity endorsement deals, said Monday it bought La Jolla-based Beelya for undisclosed terms.

Peet's Keeps Diedrich Offer Alive, Just in Case

Emeryville-based Peet’s Coffee & Tea Inc., which came up short in a bidding war for Irvine-based coffee seller Diedrich Coffee Inc., isn’t bowing out entirely.

Mall Alone

District Holds Own, Awaits Rest of Tustin Base Redevelopment

The District at Tustin Legacy is adapting to the new reality that the planned housing surrounding the mall might take a while

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