Stories for October 2010
Sunday, October 31
Company’s Board Mixes Skateboarding, Surfing
Newport Beach’s Street Surfing, the maker of the Wave board, is growing with new products and popularity in Europe
WORKERS’ COMP: Hikes expected but 28% unlikely
Local employers are not too worried about possible increases in workers’ compensation premiums
EDUCATION: Fledgling fund helps offset cuts in state support
California State University, Fullerton’s endowment fund has grown by 50% since 2007, mostly through alumni and other private donations
The Business Journal’s Jerry Sullivan sees something progressive in OC, in a Notebook
High-Rise Office Landlords Look for Short Leases Until Upturn Takes Hold
Asking lease rates in the county’s high-rise office market appear to be nearing the bottom, in Real Estate Watch
$85M for I.E. Center; Triangle-Adjacent Parcel for Sale; McMonigle Declares Independence
Pacific Newport Properties says it’s pulled off the biggest industrial sale in Southern California so far this year, in the Real Estate column
Editor & Publisher Gets New Team, Irvine HQ; Blue C Moves to Costa Mesa, Adds Clients
Brea’s American Suzuki Motor is set to see one of its cars featured in a History Channel TV show, in the Media and Marketing column
Boutique Hopes for Holiday Cure to Spotty Business; Sit ’n Sleep Opens Big Anaheim Store
IKEA in Costa Mesa is going solar with plans to install 30,000 square feet of solar panels on its roof, in the Marketplace column
$4 Million in Funding for Applied Voice; Desai’s Deal Helps Sell QLogic Succession Plan
Irvine’s Specific Media acquired a New York-based video advertising provider, in the Technology column
South Coast Plaza Dining Avenue Adds a Pair; Benefit Buffet; Dinner Deal at The Catch
South Coast Plaza has seen a number of restaurant openings this year, including Seasons 52 and Capital Grille, in the Executive Dining column
TECHNOLOGY: Jack Black, Dave Grohl entertain attendees
Blizzard Entertainment’s annual fan fest, BlizzCon, brought in some 28,000 fans last month
INSURANCE: Employers to shift burden as reform takes hold
Insurance and Employee Benefits—Workers should expect to pay more for their health insurance in 2011
HEALTHCARE: Few layoffs expected, staying in Aliso Viejo
Clarient’s chief executive and operations are set to stay in Aliso Viejo after its pending sale to General Electric
RESTAURANTS: T-shirts and Pizookies instead of cutbacks
BJ’s Restaurants is seeing record growth even as some casual dining competitors continue to struggle in a down economy
REAL ESTATE: Bixby picked up properties three years ago
Four office complexes partially owned by Bixby Land Co. have gone into receivership
TECHNOLOGY: Glut, price cuts, soft demand for drives hurt profits
Western Digital expects a slower holiday season as demand for disk drives remains sluggish
REAL ESTATE: Eleganza now in Fullerton; stabilizing market?
Eleganza Tiles is moving its headquarters from Fullerton to Anaheim in one of the larger industrial leases this year.
Device Maker Raises $4.7M, UCI Medical Center Adopts New Name, Honors Donor Douglas
Regulators in the U.S., Japan and Europe are looking to unify their approval process for medical drugs and devices, which could make approvals tougher in Europe, in the Healthcare column
Sale of Aon Auto Unit Drags on Totals; Benefits Broker Hirings Offer Sign of Improvement
ABOUT THE LIST: The county’s insurance brokers saw a drop in revenue for the second year in a row. Includes the 2010 OC INSURANCE BROKERS List for download (pdf)
WALL STREET: Sabra expected to see market value of $350-$400M
Sun Healthcare spinoff Sabra Health Care REIT is set to make its debut on Wall Street soon and already is looking for acquisitions.
Friday, October 29
Shares of Newport Beach chipmaker Conexant Systems Inc. continued their bearish slide Friday, a day after the company gave an outlook for the current quarter that fell short of Wall Street’s expectations.
Quality Systems Inc., an Irvine healthcare software maker, on Friday reported results for its most recent quarter that missed Wall Street estimates.
Halliburton Co. shares continued to slide, a day after a government panel said the oilfield service company used flawed cement on the BP PLC well that blew out in the Gulf of Mexico, causing the worst offshore oil spill in U.S. history.
Merck & Co. posted a 90% drop in third-quarter profit, due to large charges for its $41.1 billion acquisition last year of Schering-Plough Corp. and a legal reserve set up because of a federal investigation.
Shares of Costa Mesa-based Volcom Inc. slumped Friday, a day after the clothing maker warned Wall Street of a projected profit shortfall for the current quarter.
Thursday, October 28
Shares of Santa Ana’s Ingram Micro Inc., the biggest distributor of technology products, software, computers and consumer electronics, on Thursday reported results for the third quarter that beat analysts’ expectations on sales but fell short on profits.
Questcor Pharmaceuticals Inc., a drug maker that recently moved to Anaheim Hills from Northern California, on Thursday posted third-quarter results that beat Wall Street’s expectations.
Aliso Viejo’s Quest Software Inc., a maker of business software, on Thursday reported third quarter results that beat Wall Street’s expectations.
Santa Ana-based title insurer First American Financial Corp. on Thursday reported a third-quarter profit of $33.1 million, with earnings and revenue falling into line with Wall Street expectations.
New claims for unemployment benefits fell last week to a three-month low, hinting at some improvement in the listless labor market.
The federal government will send $2.4 billion to 54 high-speed rail projects in 23 states, the Transportation Department said, following up on announcements made by members of Congress and governors earlier in the week.
Exxon Mobil, the world's largest publicly traded oil company, said its quarterly profit rose 55%, topping expectations, as higher crude prices and improved refining margins boosted results.
Irvine medical device maker Endologix Inc. said Thursday it is buying a Bay Area company in a deal that could be worth up to $54 million.
Orange County’s economy will grow at a modest pace next year and in 2012, but a strong recovery is unlikely, according to a forecast from California State University, Fullerton economists.
Wednesday, October 27
Beckman Coulter Inc., a Brea-based medical testing company, on Wednesday reported third-quarter results that surpassed Wall Street’s expectations.
Sales at Orange County auto dealers rose again in September, jumping 23% from a year earlier to 11,812 vehicles, according to the Newport Beach-based Orange County Automobile Dealers Association.
Demand for long-lasting U.S. manufactured goods, excluding aircraft, unexpectedly fell last month and a key gauge of business capital spending plans also eased, underscoring the economic recovery's tepid pace.
Procter & Gamble Co. posted a higher-than-expected quarterly profit as new products and strength in emerging markets helped spur sales volume growth at the world's largest household products company.
Stocks are falling as concerns grow over whether the Federal Reserve's plans to buy Treasury bonds might be smaller and slower than anticipated.
Shares of Irvine-based communications chipmaker Broadcom Corp. jumped Wednesday after the company gave an outlook fourth quarter that trumps Wall Street’s expectations.
Tuesday, October 26
Irvine-based Standard Pacific Corp. posted its second consecutive profitable quarter on Tuesday, although company officials are bracing themselves for a longer-than-expected economic recovery that could hinder near-term growth.
Costa Mesa-based Ceradyne Inc. fell short of Wall Street expectations with third-quarter results but affirmed its outlook for the rest of the year and upped its guidance for 2011.
Irvine-based automotive research website operator Kelley Blue Book is being bought for an estimated $500 million by Atlanta-based AutoTrader.com LLC.
Monday, October 25
Shares of two technology companies jumped on bullish expectations on Monday, a fairly upbeat day on Wall Street.
Edwards Lifesciences Corp. on Monday reported mixed third-quarter results and offered a fairly upbeat outlook for the rest of the year.
Sales of previously owned homes rose in September, but remained at subdued levels that did little to undermine the case for additional monetary stimulus next week from the Federal Reserve.
Office Depot Inc.'s Chairman and CEO Steve Odland is stepping down by mutual agreement with the board.
CommScope Inc. is talking to asset management firm Carlyle Group about being taken private in a deal valued at about $2.98 billion.
Foothill Ranch-based aluminum products maker Kaiser Aluminum Corp. fell short of Wall Street’s third-quarter profit expectation while topping what analysts were expecting on revenue.
U.S. Lighting Lands $30M New Jersey Project; Contracts With Brea, Carlsbad, Other Cities
FAST-GROWING PRIVATE COMPANIES - #1. U.S. Lighting Technologies
ADVERTISING: Games draw players; players draw advertisers
FAST-GROWING PRIVATE COMPANIES - #4. Future Ads LLC
Incipio Makes Gadget Cases; Picked up by Wal-Mart, Target, Others
FAST-GROWING PRIVATE COMPANIES - #5. Incipio Technologies
Adds Website Work to Media Buying and Creative Duties as Big Client Continues to Pay Off
FAST-GROWING PRIVATE COMPANIES - #3. Most Brand Development
Cosemi Surges as Cloud Computing Propels Fiber-Optic Networks
FAST-GROWING PRIVATE COMPANIES - #7. Cosemi Technologies Inc.
RETAIL: U.S. Alliance offers equipment, fulfills transactions
FAST-GROWING PRIVATE COMPANIES - #2. U.S. Alliance Group Inc.
Construction and Tenant Improvements in L.A., Inland Empire Keep Golden Growing
FAST-GROWING PRIVATE COMPANIES - #8. Golden Construction Development Co.
FINANCE: Stearns Lending now among nation’s largest
FAST-GROWING PRIVATE COMPANIES - #6. Stearns Lending Inc.
PUBLISHING: Revista Set to Add New Titles to Roster
FAST-GROWING PRIVATE COMPANIES - #9. Revista Publishing LLC
MEDIA: Tech Services Let Clients Focus on Core
FAST-GROWING PRIVATE COMPANIES - #10. ProRepro
Sunday, October 24
SPORTS: Plan calls for new downtown park, development
The Orange County Flyers are looking to build a stadium in downtown Fullerton
Hospira Helps Spur ICU’s Results; Former Hoag Executive Takes Over at St. Joe in Orange
Medtronic got FDA approval for a clinical trial of a heart valve it’s developing in Irvine, in the Healthcare column
New Charter, $460 Million Refinancing, 70 Branches Planned, Including One in Crystal Cove
Longtime OC banker Stephen Gordon is looking to expand newly renamed Opus Bank
Recession Takes Toll on Group’s Size, Two-Year Growth Rate; Survivors Defy Downturn
ABOUT THE LIST: A list of 69 companies with strong two-year growth. Includes the 2010 OC FAST-GROWING PRIVATE COS List for download (pdf)
Slow Rebound for Greater L.A. Commercial Real Estate
The Greater Los Angeles market is seeing a slower recovery from the recession than other markets, in Real Estate Watch
Irvine Co. a Possible Bidder; Developers for Whitman; Target Gets San Clemente Parcel
The sale of Costa Mesa’s Pacific Arts Plaza has hit a snag, in the Real Estate column
Billboards Aim High at John Wayne Airport; Mazda2 Goes With Soul Singer on Tour
Irvine’s Wunderman has taken on more advertising duties with customer Autobytel, in the Media and Marketing column
Analyst: Western Digital May See Flat Quarter; Incubator Opens at University Research Park
Kingston Technology put out a call for participants in its annual competition to destroy its solid state drive, in the Technology column
Shares of Santa Ana-based Grubb & Ellis Co. fell last week after the company said it likely will fall short of its earnings projections for the year and warned of a third-quarter loss.
BANKS: Private banking sees growth with softer client pitches
UBS Financial Services has cleaned up its business strategy and is looking to grow at its offices in OC
Tustin beer distributor Straub Distributing has signed a 15-year lease in Anaheim valued at nearly $40 million
HEALTHCARE: Questcor is growing; $630M market value
Northern California drug maker Questcor is moving its headquarters to Anaheim Hills
Shopping Season Expected To Be Best in Years
Orange County malls and retailers are expecting the best holiday shopping season in years
AUTO: New faces, locals, vets from Doner make up team
Mazda’s new advertising shop Team Mazda is busy building its employee ranks
REAL ESTATE: Deal pegged at $65M; fund eyes more in OC
A CB Richard Ellis Group investment trust recently bought Orange City Square for a fraction of its 2007 price
TECHNOLOGY: Key owner seeks ouster of CEO, chairman
Lantronix’s Bernard Bruscha is gearing up for a board fight that could shake up the Irvine device maker’s executive ranks
REAL ESTATE: 884-unit deal could be biggest of year so far
Newport Beach’s Irvine Company has completed its largest acquisition in several years, buying a recently built apartment complex in Orange.
Friday, October 22
Employers here added 4,600 jobs from August to September, as gains in government, education and health services outpaced losses in construction, arts and entertainment, and tourism.
Huntington Beach-based BJ’s Restaurants Inc. saw its shares surge Friday, a day after reporting better-than-expected quarterly results.
Clarient Inc., an Aliso Viejo cancer testing company, said on Friday that it is being acquired by General Electric Co.’s healthcare unit for $587 million.
The median price of an existing Orange County home moved back above the $500,000 mark in September, while the pace of sales here remained sluggish, the California Association of Realtors said Friday.
AIA, the Asian life insurance arm of AIG, raised $17.9 billion by pricing its Hong Kong IPO at the top of its range as investors piled into the most attractive offering in the world's hottest financial market.
Diversified U.S. manufacturers Honeywell International Inc. and Ingersoll-Rand PLC beat Wall Street's profit expectations and raised their forecasts for the rest of the year as strong demand from Asia helped to offset a tepid recovery at home.
Verizon Communications Inc., the country's largest wireless carrier, said its profit fell 25% in the third quarter, held back by a one-time charge for a pension settlement and the performance of its landline operations, which barely broke even.
Thursday, October 21
Costa Mesa’s Emulex Corp., a maker of electronics for data storage networks, on Thursday narrowed its outlook for the current quarter in line with Wall Street’s expectations.
H.K. Desai, the longtime chief executive of Aliso Viejo-based QLogic Corp., said Thursday he’s set to step down after some 15 years at the helm.
Caterpillar Inc. reported stronger-than-expected quarterly earnings and raised its full-year forecast, citing especially strong demand for its construction and mining equipment in the developing world.
Toyota Motor Corp. is recalling 1.53 million Lexus, Avalon and other models, mostly in the U.S. and Japan, for brake fluid and fuel pump problems, the latest in a string of quality problems for the world's No. 1 automaker.
Kohlberg Kravis & Roberts is hiring part of Goldman Sachs Group Inc.'s proprietary trading team, which is being shut down due to new restrictions on such trading.
Brea-based Nature's Best, a distributor of vitamins, supplements and health foods that’s among Orange County’s largest private companies, plans to open a distribution center near Dallas.
Wednesday, October 20
Costa Mesa-based Facilities Management West Inc. has been picked as the winning bidder to buy the Orange County fairgrounds for $100 million, the state said Wednesday.
At least one Orange County Chrysler dealer has gotten word that it soon will be among those selling Fiats here: Costa Mesa's Orange Coast Chrysler Jeep Dodge.
Irvine-based Local.com Corp., which runs online search engines for finding local businesses, has replaced its finance chief after less than two years on the job.
Shares of Santa Ana-based Grubb & Ellis Co. fell Wednesday after the real estate brokerage and investor said it likely will fall short of its earnings projections for the year and warned of a third-quarter loss.
Morgan Stanley reported a surprising third-quarter loss, suggesting the bank is losing hard-won ground in the battle with Goldman Sachs for Wall Street supremacy.
Boeing Co. posted a quarterly profit that beat expectations, and it boosted its full year forecast, helped by a strong recovery in the commercial airplane market.
Bank of America Corp. shares hit their lowest point since June 2009, after accusations that the company inappropriately handled more than $47 billion in mortgage bonds prompted some Wall Street analysts to downgrade its stock.
Irvine’s Lantronix Inc. is defending its chief executive and track record as its largest shareholder seeks to wage a board battle at the networking electronics maker.
Tuesday, October 19
Irvine's Vizio Inc., which designs and markets low-cost digital TVs, is set to be the presenting sponsor of the Rose Bowl from 2011 to 2014, including the BCS National Championship game.
Lake Forest’s Western Digital Corp., the top maker of disk drives, on Tuesday reported results for the September quarter that showed a decline in profits.
The median price of an existing Orange County home sold in September rose to $445,000, an increase of more than $16,000 or 3.7% from a year earlier.
Irvine’s Specific Media Inc., which runs an online advertising network, said Tuesday it acquired New York-based Broadband Enterprises Inc., a provider of streaming video advertising.
Housing starts hit a five-month high in September, a tentative sign of healing in the housing market, though permits for future home building fell as approvals in the volatile multi-family segment tumbled.
The White House says federal agencies are investigating allegations of widespread errors in foreclosure documents.
Goldman Sachs Group Inc.'s earnings easily beat analysts' forecasts again, but the bank saw a big slowdown in trading, its most profitable business.
San Clemente-based medical device maker ICU Medical Inc. has upped its outlook for the rest of the year after reporting better-than-expected quarterly results.
Monday, October 18
Garden Grove’s Crystal Cathedral Ministries filed for bankruptcy protection on Monday, listing debts of $50 million to $100 million.
BlueCava Inc., an offshoot of Irvine security software maker Uniloc USA Inc., has raised $5 million in funding led by billionaire Mark Cuban and entrepreneur Tim Headington.
The cofounder and largest shareholder in Irvine networking electronics maker Lantronix Inc. is mounting a board fight, charging the company’s current management and directors with “lackluster” results and a “lack of vision.”
Shares of Irvine-based Allergan Inc. jumped Monday as Wall Street got its first crack at the stock after word Friday that the company’s flagship Botox drug was approved as a treatment for migraine headaches.
Citigroup Inc. reported a better-than-expected quarterly profit as credit losses slowed, but revenue fell short of estimates and analysts questioned whether the foreclosure crisis could further dampen future results.
Home-builder sentiment rose for the first time in five months as builders are starting to see "some flickers of interest" among potential buyers, according to a survey that continued to show weakness in the housing market.
Northeast Utilities will buy peer NSTAR in a $4.17 billion all-stock deal to create a utility that will provide power and gas to more than half of the customers in New England, the companies said.
Sunday, October 17
Inland Empire Shows Early Signs of Rebound
The Inland Empire industrial and office market is showing signs of a rebound, in Real Estate Watch.
Thriving Plaza Area has Eateries, Shops, Some Growing Pains
The Plaza District in Orange is thriving with restaurants and shops, and some growing pains
TECHNOLOGY: Vegas talk aside, 30,000 due in Anaheim
The Anaheim Convention Center is gearing up for Blizzard Entertainment’s annual fan convention Blizzcon
APPAREL: Company known for graphic Tees eyeing juniors market
Sales are up for tattoo-inspired clothing maker Sullen Clothing
MEDIA: Move will bring added dues; plans to work with others
KOCE is preparing to become the region’s flagship PBS station after Los Angeles’ KCET ended its partnership with the TV programmer
AUTO: Decision expected soon; “studios” instead of showrooms
The county’s Chrysler dealers are vying to get Fiats on their lots
LAW: Filings fell during slump as litigation took center stage
Patent filings took a hit during the recession but local law firms expect a comeback by next year
RETAIL: Fashion chain to take 43,000 square feet as its own
Los Angeles-based Forever 21 will be opening a shop inside Sears at South Coast Plaza
MEDIA: Veteran journalist back after running own publication
Jerry Sullivan has rejoined the business journal as managing editor
Gastropub’s Gusto; Time for Tandoori Thanksgiving Orders; Update Down at The Cellar
Summer House in Corona del Mar recently opened, taking the former space of El Ranchito, in the Executive Dining column
Blizzard Cofounder Adham Turns Up With Hedge Fund; $5 Million in Funding for Predixion
Toshiba’s laptop division is coming out with a laptop specifically designed for kids, in the Technology column
Surveys See 2%-3% Rise in Holiday Sales; Auto Customizers Take Former Lamborghini Space
Ritz Camera & Image has revamped and reopened its Irvine store following the company’s 2009 bankruptcy, in the Marketplace column
Management Shift at WebVisible; Kim Kardashian Wears L*Space Swimsuit in Tourism Ad
Cypress’ Mitsubishi Motors North America is offering a virtual test drive of one of its autos as part of a marketing campaign, in the Media and Marketing column
Tenant Improvements Paved Way for Modular Wind Energy’s Lease in Huntington Beach
Koll Co. and Conexant Systems have teamed up to get land they own in Irvine approved for housing, in the Real Estate column
A look at people, companies and institutions receiving awards, accolades, grants and other honors
Progress on New Use for Ista’s Bepreve; UCI Event Looks at Potential of Wireless Healthcare
A medical device trade group headed by Masimo Chief Executive Joe Kiani is taking aim at hospital buying groups, in the Healthcare column
Advisers, Wealthy Investors Stay Cautious, Despite Signs of Wall Street’s Comeback
Investors still are playing it safe, despite Wall Street’s recent comeback.
As Crash Mentality Continues To Hold Sway, Charles Schwab, Others Look for Gains Here
A look at top local financial advisers and their strategies for capturing more market share in OC.
Surfers, Baseball, Hockey, Football Players are Unique Market, Challenge for Money Managers
Local money managers discuss the unique challenges of working with professional athletes in Southern California.
Sidhu Takes Over for Jack Kyser at Southland Economic Forecaster.
A Q&A with Nancy Sidhu, the new chief economist for the Los Angeles County Economic Development Corp.
AUTO: Luxury hybrid set for ’11; pair of models in works; IPO?
Irvine’s Fisker Automotive plans to up its workforce in preparation for the release of its hybrid luxury sedan
FINANCE: Company adds 57 reps, despite cutting elsewhere
ABOUT THE LIST: The number of financial advisers in the county has gone up slightly in the past year. Includes the 2010 OC FINANCIAL ADVISERS List for download (pdf)
Friday, October 15
Shares of Aliso Viejo-based QLogic Corp. were off slightly Friday after an analyst said the networking electronics maker faces slowing demand for its products from server makers.
Shares of Lake Forest-based Western Digital Corp. surged Friday, a day after key rival Seagate Techology PLC said it had received interest in a buyout offer to take the company private.
General Motors Co. is recalling 322,409 model year 2009 and 2010 Chevrolet Impala sedans because front seat belts may not be properly anchored, the automaker and federal regulators said.
China's Sinochem Group will not launch a counterbid for Canadian fertilizer giant Potash Corp. sources told Reuters, removing one of the biggest potential hurdles to BHP Billiton's $39 billion offer.
Google Inc. eased fears that big spending would erode margins as its results blew past Wall Street's targets, and the Web search leader revealed for the first time the strength of its fledgling mobile and online display ad businesses.
Medtronic Inc., the Minnesota medical device maker that’s developing a new type of heart valve in Irvine, has gotten the regulatory go ahead for a key trial of the device.
Thursday, October 14
Stocks are wavering after unemployment claims rose and inflation remains relatively tame.
Shares of Yahoo Inc. jumped more than 9%, fueled by the prospect that the Internet company could be the target of a buyout by private equity firms, possibly in conjunction with another media company like AOL Inc. or News Corp.
Singapore widened the trading band for its currency in response to increasing market volatility and India intervened to temper a rising rupee as foreign exchange tensions persisted ahead of a key G20 meeting.
Lake Forest-based Western Digital Corp., the top maker of disk drives for computers and consumer electronics, has struck a deal to produce its products in Brazil.
Shares of Santa Ana-based for-profit school operator Corinthian Colleges Inc. slumped Thursday, a day after a key rival withdrew its 2011 financial forecast and warned of a big drop in students as new federal regulations for the industry unfold.
Wednesday, October 13
Irvine-based Consolidated Horticulture Group LLC, which operates Hines Horticulture Inc., has made an expected filing for bankruptcy protection.
JPMorgan Chase & Co. posted a 23% increase in quarterly profit as a stabilizing labor market helped ease losses on consumer loans.
Apple Inc.'s shares topped $300 for the first time as stellar iPad sales and a planned expansion into China continued to give investors high hopes for the iPhone maker's already healthy prospects.
Asia-focused bank Standard Chartered launched a $5.3 billion rights issue to bolster its finances for new capital rules and provide the firepower to take advantage of growth opportunities, it said.
Foothill Ranch-based aluminum products maker Kaiser Aluminum Corp. is paying $90 million for an Arizona maker of parts for planes.
Irvine-based chipmaker Broadcom Corp. is paying $316 million to buy a Santa Clara maker of chips for the next generation of mobile phones.
Tuesday, October 12
Huntington Beach-based BJ’s Restaurants Inc. is expected to continue doing better than most restaurant operators, just not on Wall Street, an analyst said Tuesday.
Shares of Irvine-based computer memory products maker Netlist Inc. jumped Tuesday on word the company was granted a patent.
Pfizer Inc., the world's largest drugmaker, has agreed to buy King Pharmaceuticals Inc. for $3.6 billion in a move to shore up earnings ahead of the looming evaporation of revenue from Lipitor, its biggest product.
Greece raised $1.63 billion in a sale of 26-week treasury bills that was both oversubscribed and saw a drop in borrowing costs.
Google Inc. is investing in an extensive network of deepwater transmission lines worth billions for future wind farms off the East Coast, the company said.
Santa Ana-based Corinthian Colleges Inc., which faces the prospect of renewed federal regulation and persistant Wall Street skepticism, saw its shares fall Tuesday after its president announced his intention to resign this month.
Monday, October 11
China's top offshore oil producer, CNOOC Ltd, agreed to pay $1.1 billion for a stake in a U.S. shale oil and gas field, testing the U.S. political climate for the first time since its 2005 failed bid for Unocal.
Gymboree Corp. said it is selling itself to buyout firm Bain Capital Partners for $1.8 billion, confirming reports last week that the children's apparel retailer was up for sale to private equity buyers.
Microsoft Corp. unveiled a new line of phones running its Windows software, as it attempts to pull back market share from Apple Inc.'s iPhone and Google Inc.'s Android system in the fast-growing market for multi-featured "smartphones."
Shares of Irvine-based Broadcom Corp. opened higher after an analyst said it's a good time to buy the stock as the chipmaker makes gains in smartphones and other areas.
Sunday, October 10
HEALTHCARE: New leader brings flair, focus on turnaround
Italian businessman Federico Pignatelli takes a permanent post at Irvine’s Biolase
Real estate investor John Saunders argues that giving bank regulators more leeway could help the economy, in Viewpoint
EDUCATION: Plan for donors to offset funds shift to undergrads
UCLA’s graduate business program is considering a plan to forego state funding and asking donors to make up the difference
Brandman Board of Regents Reflects Military Roots, Chapman Ties
A look at the board of regents for Brandman University
LOCAL COLLEGES: Gains come despite higher tuition rates
Admissions at local universities are up even as public schools deal with major budget cuts
GRAD SCHOOLS: Earlier gains erode amid shaky jobs picture
Local MBA programs see a drop in enrollment as the economic recovery drags on. Includes the 2010 OC MBA SCHOOLS Directory for download (pdf)
For-Profit Schools Start Implementing Changes Ahead of Federal Rules; Enrollment Still Up
For-profit university operators saw an increase in enrollment during the first stages of the recession but lately are seeing numbers drop in the face of government scrutiny
UCI Researcher Gets Grant to Study Staph Infections; Cortex Takes Back Ampakine Compound
James Mazzo visited China on behalf of medical device trade group Advamed, in the Healthcare column
J.M. Barrie’s “Peter Pan,” Orange County Performing Arts Center, until Nov. 21
A review of Peter Pan, now playing at the performing arts center in Costa Mesa
West County: Warehouse Tight, Bargains Elsewhere
The West County industrial market is seeing stable rents but vacancies are still on the rise, in Real Estate Watch.
Western National Makes First Irvine Buy, Pays Estimated $50 Million for Charter Apartments
Many of SunCal’s local developments are tangled up in the bankruptcy case of former financier Lehman Brothers, in the Real Estate column
Ignite Health Joins Forces With N.Y. Branding Shop; MKM Lands Water, Beer, Skateboards
Toshiba’s laptop unit in Irvine is putting its advertising account up for review with incumbent ad shop Wunderman bowing out, in the Media and Marketing column
Messaging Software Maker Raises $410,000; Blizzard Founders Honored with Cultural Award
Billing software maker Data Impact raised $5 million in an initial round of funding, in the Technology column
MANUFACTURING: 30 hired so far, rest due by next year
Anatomic Global is expanding its operations in Corona after seeing growth in sales for its foam mattress products
REAL ESTATE: Cohen could see quick profit after July buy
A Los Angeles real estate investor is looking to sell some industrial buildings it recently bought in Brea
TECHNOLOGY: Acquisition of Actel biggest deal so far
Microsemi in Irvine has announced its third buy in a month, Mountain View-based Actel Corp.
The Orange County Auto Show
The Orange County Auto Show in Anaheim showcased models that are creating a buzz
FASHION: Athletes, actor give Kaenon a marketing boost
Newport Beach glasses maker Kaenon Polarized is making a splash
RETAIL: Piyo Piyo first targets ethnic areas, has wider ambitions
Baby products retailer America Tung Ling is making a big push with five new Piyo Piyo stores expected by year’s end
RESTAURANTS: Zpizza looks to redo some 100 eateries
Irvine’s health-conscious zpizza is planning a makeover of its nearly 100 restaurants
Irvine Exec at Fore of Sprint Push
Irvine executive Matt Carter is heading up Sprint’s 4G push throughout the country
Friday, October 8
Irvine-based Hines Horticulture Inc., a seller of plants and shrubs through home improvement stores, is laying off about 100 people in Oregon and said it could seek a second round in bankruptcy court.
A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs.
Bank of America Corp. is halting foreclosures and sales of foreclosed properties in all 50 U.S. states pending a review of its internal processes, the bank said.
Sanofi-Aventis SA, the world's fourth-biggest drugmaker, says it is eliminating 1,700 jobs in its U.S. pharmaceutical business.
An analyst upped his rating on Aliso Viejo-based QLogic Corp., a day after the networking electronics maker upped its outlook for the recently ended quarter.
Thursday, October 7
Cypress-based swimsuit maker Manhattan Beachwear LLC has acquired a Los Angeles counterpart after being bought itself by a private equity firm earlier this year.
Irvine-based Blizzard Entertainment Inc., the top maker of online video games, said Thursday it now counts 12 million players of its “World of Warcraft” game.
Newport Beach chipmaker Mindspeed Technologies Inc. said on Thursday it sold $5.3 million more worth of patents.
New claims for unemployment benefits fell to a near three-month low last week, pointing to some improvement in the troubled labor market.
World leaders must defuse currency tensions before they worsen to avoid repeating the mistakes of the Great Depression, the head of the World Bank said.
Mortgage rates reached new record lows in the last week as economic data raised the appeal of safe-haven government debt, according to a survey released by Freddie Mac, the second-largest U.S. mortgage finance company.
Aliso Viejo-based networking electronics maker QLogic Corp. upped its profit forecast for the recently ended quarter.
Foothill Ranch-based mall retailer Wet Seal Inc. reported a less than expected decline in September sales and said it sees quarterly profits coming in at the high end of its forecast.
Wednesday, October 6
U.S. economic growth will be much weaker this year and in 2011 than previously thought and that dims hopes for bringing down a very high unemployment rate anytime soon, the International Monetary Fund said.
General Electric Co. made a pair of major acquisitions and said it was spurned in a third attempt, as the largest U.S. conglomerate builds up its energy and finance arms.
Johnson & Johnson said it is buying Crucell N.V. for $2.41 billion in a move that will boost the American health care company's vaccine business.
Epicor Software Corp. said Wednesday it sees third-quarter results coming in higher than expected.
Tuesday, October 5
The Bank of Japan pledged to pump more funds into the struggling economy and keep rates virtually at zero, surprising markets and stealing a march on the Federal Reserve in providing a fresh dose of economic stimulus.
The pace of growth in the non-manufacturing sector accelerated more quickly than economists had expected last month and hiring increased, according to an industry report.
Former Societe Generale trader Jerome Kerviel was sentenced to three years in jail by a Paris court for his role in a trading scandal and ordered to pay the French bank $6.8 billion.
Seal Beach-based Clean Energy Fuels Corp., which runs natural gas fueling stations for fleets of taxis, buses and other vehicles, has struck a deal to build and run fueling sites at truck stops.
Monday, October 4
Shares of Santa Ana-based title insurer First American Financial Corp. slumped for a second day on Monday amid investor concerns about inaccurate foreclosure filings by lenders.
Shares of Irvine-based Microsemi Corp., a maker of chips for military, aerospace and industrial uses, jumped Monday as investors gave a thumbs-up to its $430 million buy of Mountain View’s Actel Corp.
Irvine-based WebVisible Inc., which helps businesses buy and target online ads, announced an executive restructuring as a NetZero Inc. cofounder takes the top spot on the heels of job cuts.
Sanofi-Aventis launched a hostile bid for Genzyme at $69 per share, taking its $18.5 billion offer direct to shareholders after the biotech's management refused to negotiate.
Pending sales of previously owned homes rose to a four-month high in August, implying the housing market was regaining some stability after recent steep declines following the end of a home-buyer tax credit.
Sara Lee Corp. shares jumped after The New York Post reported that the foodmaker received an unsolicited offer from private equity firm KKR Co. and aroused the interest of Anglo-Dutch conglomerate Unilever.
Startup Luxury Magazine Bask Enlists Editor; Disney Push Includes Visitor Videos, Pictures
Freedom Communications ended a two-year deal with Verve Wireless and has taken over its mobile content operation, in the Media and Marketing column
Scenes from business, social, charity and other events
Mid-Counties Market Reflects Signs of Economic Recovery
The Mid-Counties market has seen an improvement in sales and leases this year, in Real Estate Watch.
Anaheim Consultant Renews Lease, Pares Space; Faris Lee Opens Phoenix, Las Vegas Offices
Burnham USA Equities added two OC retail buildings to its portfolio, in the Real Estate column
Dealers Hope Boat Shows Stirs Yacht Sales; Inflatable Boat Maker Elco Moves to Newport
A look at Daisy Shoppe Boutique, which has called the Shops at Mission Viejo home for two decades, in the Marketplace column
Allergan Seeks Broader Use of Lap-Band Obesity Device, Sees Eye Implant Use Expanded
Valeant’s sale to Canada’s Biovail is a done deal, in the Healthcare column.
Iteris Makes Lane-Departure Warning System Sale; Broadcom Foundation Hosts Science Fair
For the first time more computer games were sold online than in stores, in the Technology column
Sunday, October 3
Fastest Growing Public Companies - No. 2 : Lake Forest-based Comarco Inc. charged up its revenue growth last year when it struck a deal with another local company.
Fastest Growing Public Companies - No. 3: Local.com Corp., which runs a search engine for finding local businesses, has had an eventful year.
Fastest Growing Public Companies - No. 4: Newport Beach’s Acacia Research Corp. has grown as it’s moved from serving small customers to big ones in the past few years.
Fastest Growing Public Companies - No. 5: Record gold prices helped sales surge at Spectrum Group International Inc., which debuted at No. 5 on the Business Journal’s 2010 list of the fastest-growing public companies.
Fastest Growing Public Companies - No. 6: Santa Ana’s Identive Group Inc. has grown on the heels of the government’s push to beef up security at its buildings after the 2001 terrorist attacks.
Fastest Growing Public Companies - No. 7: A new drug to treat itchy eyes and growth in others have boosted Ista Pharmaceuticals Inc.
Fastest Growing Public Companies - No. 9: A growing number of medical tests and services have paid off for Clarient Inc.
Fastest Growing Public Companies - No. 8: Endologix Inc.’s devices that stop ballooning blood vessels are spurring growth, albeit at a somewhat slower pace.
Fastest Growing Public Companies - No. 10: Santa Ana-based Corinthian Colleges Inc. was at the head of the class until the proposed federal regulation threw it back a grade.
Fastest Growing Public Companies - No. 1: Tustin-based Peregrine Pharmaceuticals Inc. has grown with contract manufacturing and government business as it works on developing drugs for fighting viral diseases and cancer.
Includes the 2010 OC FASTEST GROWING PUBLIC COS List for download (pdf)
Kia Looks To Follow in Hyundai’s Footsteps with Sedan
Kia Motors America is hoping to follow in its corporate sibling Hyundai’s footsteps with its revamped Optima sedan
POLITICS: Distributor gives $1.1M to end state liquor sales
Young’s Market in Tustin is funding an initiative in Washington state that could end state sales of liquor there.
Letter to the Editor: The continuing problem of "shakedown" lawsuits in CA
Uniloc Sues Big Names; 3 Years Left on Patent
Irvine’s Uniloc has sued some big names for alleged infringement of its anti-piracy software.
MANUFACTURING: Buy of McKechnie among biggest
Irvine’s McKechnie Aerospace Holdings is being bought by Cleveland’s TransDigm Group for $1.7 billion
FINANCE: Parent Macquarie closes Huntington Beach office
Bond fund manager Macquarie Allegiance Capital has moved its office from Huntington Beach to Los Angeles
REAL ESTATE: Full building goes for $15M, big-name tenant
Irvine’s Bixby Land Co. made a big purchase in Northern California
TECHNOLOGY: Chips link drives, other devices to PCs
Symwave in Laguna Niguel expects to be bought in coming months
Edwards Lifesciences’ Sapien heart valve has a promising future, if its European sales are any indication.
REAL ESTATE: Seller bought last year, expected to see profit
An Irvine building that houses Taco Bell’s headquarters is up for sale.
ECONOMY: Execs remain upbeat overall
The tempered optimism of the third quarter held for executives and their outlook for the fourth quarter.
Friday, October 1
Fountain Valley-based Hyundai Motor America and Irvine’s Kia Motors America Inc. bucked August declines in sales to lead local automakers with big gains in September.
A Buena Park maker of laundry detergent, fabric softener, bleach and other chemicals plans to spend $40 million to expand operations in Arkansas.
The pace of growth in the manufacturing sector slowed in September, an industry report showed, and employment in the sector also declined.
Hewlett-Packard Co.'s new chief executive Leo Apotheker suggested software would be a focus under his leadership, but he failed to gain investor confidence.
United and Continental closed the deal that will create the world's biggest airline, ending Delta's brief hold on the top spot.
San Clemente-based hotel owner Sunstone Hotel Investors Inc. said it expects a key measure of performance to rise slightly for the third quarter.