Stories for July 2011

Sunday, July 31


Silver Spoons Out, Work Ethic In for These Offspring

A look at children of rich OC parents, aka Generation W

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OC's Wealthiest, 1-16

Profiles on this year’s OC’s wealthiest. 1 - 16

Region’s Bunch of Billionaires Grows

ECONOMY: OC up 3, L.A. adds 8, no change in San Diego

The region’s bunch of billionaires grows.

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Some other locals estimated to be worth $100 million or more, though an exact number is hard to pin down

Other centimillionaires.

Katsuya Opens; Theater, Dinner at La Vie en Rose

Food Adventure at Anqi; A Night at L’Opera

Fifi Chao visits Studio Garden, newly opened Katsuya and more

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Analysts Cheer Valeant-Allergan Race for Skin Care

Both in Deals to Increase Share of $20B Market

Valeant looks to grow business alongside its neurology drugs, in Healthcare

Western Digital’s Inventory in Place for Marketing Push

Sales Opportunity Seen as Pressures on Cost Continue

Western Digital expects continued pressure on costs, in Technology

Weekend Wealthy

Here are some notably wealthy individuals who have homes here for their leisure.

Hyundai’s Long Road Leads to Top Blue Book Rank

Years of Brand Building Followed Early Stumble

Hyundai takes top spot for brand loyalty in survey, in Media and Marketing

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New Developer Takes On Shady Creek Medical Project

Brokers: San Diego Outfit Takes Over From Centra

Pacific Medical Buildings takes over plans to build medical center, in Real Estate

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Compelling Case for High-Wage Jobs Climate

Pepperdine associate deans make case for high-wage jobs climate

Clicked Off About Internet Tax

State’s Plan for More Revenue Gets Messy

Commentary: state’s plan for more revenue from Internet tax gets messy

3 MacArthur Latest Tower to Change Hands

REAL ESTATE: TA Associates buys at estimated $210 per SF

TA Associates Realty snaps up Santa Ana building for about $52M

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MARKET WATCH - August 1, 2011

The Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance

CALENDAR - August 1-11, 2011

A listing of events happening all around Orange County. August 1-11, 2011

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Other items of interest Orange County Business Journal

Pipeline Fundraiser for Cystic Fibrosis Hits the Beach

Apparel Makers, BJ’s Aboard for $500K Goal

Surfing’s positive effect on the disease helps bring out the surf industry for the Cystic Fibrosis Foundation of Orange County’s annual Pipeline for the Cure fundraiser.

Management Consultants Reflect Clients’ Cautious Optimism

ECONOMY: Shift from tactical to strategic needs shows progress

OC management consultants adjusting to clients’ needs.

Agenda Set for Big Wave of Buyers Alongside US Open

APPAREL: Up to 7,000 retailers, press expected at HB edition

Agenda will kick off two-day trade show Wednesday.

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Questcor’s Steps Toward Lupus Provide Lift on Sales Potential

HEALTHCARE: Sole drug aimed at another difficult-to-treat niche

Questcor taking steps to introduce sole drug to a new market.


Inland Empire Industrial Perks Up, Office Struggle Continues

Overview of Inland Empire market. Includes Real Estate Watch industry performance charts.

Real Mex: Talks to Rework Debts, Leases in Works

RESTAURANTS: Late bond payment brought downgrade

Real Mex makes late payment on $130M bond.

Vegas Bullet Train Gets Key OK; Allergan Exec Moves

OC INSIDER Column by Rick Reiff

No Wait on New Wheels


Celebrities, others swoon over Fisker Automotive’s hybrid sports car

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Serial Entrepreneurs


High-profile serial entrepreneurs and their stories

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OC's Wealthiest, 17-33

Profiles on this year’s OC’s wealthiest. 17 - 33

3 More Billionaires Among Gains by Wealthiest

ECONOMY: Richest see 4.6% bump

It was a good year for the ultra-wealthy here. Includes the 2011 OC's WEALTHIEST list for download (pdf)

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Apple Ties Prompt Rally for Broadcom

TECHNOLOGY: Rosy view helps offset concerns on Nokia, Samsung

Investors, analysts appear to put aside Broadcom’s troubles with Nokia.

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

Friday, July 29

STEC Shares Fall More on Analyst Downgrades

Shares of Santa Ana-based solid state storage drive maker STEC Inc. continued to fall Friday after a handful of analyst downgrades.

Drug Maker Ista Shares Fall on Clinical Study Failure

Irvine-based Ista Pharmaceuticals Inc.’s shares fell sharply Friday, a day after the company said that its experimental dry eye drug didn’t meet the main goal of a late-stage clinical trial.

Thursday, July 28

Microsemi Shares Up on Quarterly Earnings, Strong Outlook

Shares of Irvine-based chipmaker Microsemi Corp. ros ein afterhours trading Thursday after the company reported quarterly profits that beat Wall Street expectations and issued a strong outlook for the current quarter.

Ingram Micro Hits Target on Revenue, Profits

Santa Ana-based Ingram Micro Inc. on Thursday reported second quarter profits and revenue in line with Wall Street estimates.

First American Q2 Earnings Beat Expectations

Santa Ana-based title insurer First American Financial Corp. posted a better-than-expected quarterly result on Thursday, thanks in part to cost cutting and a boost in income from its commercial real estate business.

Wednesday, July 27

Questcor Shares Boom on Multiple Sclerosis Drug Demand

Shares of Anaheim drug maker Questcor Pharmaceuticals Inc. jumped Wednesday, a day after it reported improved second-quarter financial results fueled by higher demand for its core Acthar drug.

Microsemi’s Hostile Bid for Canadian Chipmaker Sparks Others

Irvine-based chipmaker Microsemi Corp. may have some competition as it tries to buy Canada’s Zarlink Semiconductor Inc. through a hostile bid.

Tuesday, July 26

Drug Maker Questcor Surpasses Expectations

Anaheim-based Questcor Pharmaceuticals Inc. on Tuesday reported second-quarter results that beat analysts’ estimates.

Milk Board Issues Apology for Ads

A recently launched ad campaign from the San Clemente-based California Milk Processor Board that attempted to be funny about the effects of premenstrual syndrome on women has been called off in response to public backlash.

Monday, July 25

Mindspeed Shares Up on Q3 Earnings, Latest Buy

Shares of Newport Beach’s Mindspeed Technologies Inc., a maker of networking chips, are up in afterhours trading Monday after the company reported adjusted profits and revenue in the June quarter that topped Wall Street estimates.

Broadcom Beats Profit Target, Shares Soar

Shares of Irvine chipmaker Broadcom Corp. shot up in afterhours trading Monday after the company reported profits in the June quarter that beat Wall Street expectations.

Sunday, July 24

Cisco Trims Office By 60, Adds to Incubator in Irvine

Institute Arrives Amid Plan to Cut $1B in Costs

Cisco cuts jobs, adds to incubator in Irvine, in Technology

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Edwards’ Other OK: Critical-Care Device Clear Here

Segment Accounts for 31% of Revenue, Seeing Growth

The FDA cleared another Edwards device for sale, in Healthcare

DGWB’s New Health Kick: California-Made Olive Oil

Ads, PR on Fresno-Based Brand’s Domestic Debut

DGWB is working on a campaign for olive oil, in Media and Marketing

MARKET WATCH - July 25, 2011

The Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance


Other items of interest Orange County Business Journal

Aliso Viejo Startup Raises $30M for Game Software

Aliso Viejo-based gaming software startup Gaikai Inc. has raised $30 million from some big backers in a recent funding round.

Pacific Life Buy of Reinsurer Builds on Morris’ Early Deal

FINANCE: Manulife follows Scottish Re by three years

Pacific Life’s recent acquisition adds market share for reinsurance


Mid-Counties Outlook Improves on Big Tenants, Buyers

The mid-counties industrial market turned in the best first quarter since 2007

High Vacancy, Bargain Benchmark on Anaheim Office

Upstart Pays $51 Per SF for Pair on 85% Vacancy Rate

An upstart investor bought an Anaheim office complex, in Real Estate

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Unnoticed No More: Residences of Montage Resort

Custom Inspirations From Wine Cellars, “Iron Man”

Homes at the Montage Laguna Beach offer a unique lifestyle, in Luxury

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Edwards Gets Nod from Panel; Talk of Stroke Threat Cools Shares

HEALTHCARE: 9-0 vote favors Sapien; questions on U.S. rollout

Edwards Lifesciences is one step closer to introducing its less-invasive heart valve

Microsemi Offers $548.7 Million in Hostile Bid for Canadian Chipmaker

TECHNOLOGY: deal would add telecom, medical lines

Microsemi has taken a hostile bid for a chipmaker to shareholders

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

Companies Sought for Annual Fast-Growing List

The Business Journal is seeking submissions for consideration on our fifth annual list of fast-growing privately held companies. The list seeks to identify private companies that have seen their yearly sales grow rapidly from mid-2009 to mid-2011.

CALENDAR -July 25-August 3, 2011

A listing of events happening all around Orange County. July 25-August 3, 2011

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Knobbe Plans Silicon Valley Office for Tech, Medical Devices

LAW: Intellectual property firm seeks more face time with clients

Knobbe Martens Olson & Bear plans to open a Silicon Valley office

Specialty Drug Maker Starts Seal Beach Production

HEALTHCARE: Analyst calls Provenge potential “blockbuster”

Dendreon’s manufacturing plant in Seal Beach is now making drugs

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Incipio Takes Fast Track to New Spectrum HQ

REAL ESTATE: 110,000 SF; office, warehouse consolidated

Incipio Technologies is moving to the Irvine Spectrum

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Latvian Leader Gets ‘Botox Treatment;’ Harrah Ready, Again

INSIDE OC Column by Rick Reiff

Why This Man Is Smiling

HEALTHCARE: Pacific Dental grows by putting cleanings, root canals under one roof

HEALTHCARE: Pacific Dental grows by putting cleanings, root canals under one roof.

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Kingston, Vizio Drive Minority-Owned Gain

ECONOMY: big years make up most of $12B in sales, 32% jump

ABOUT THE LIST: Kingston Technology and Vizio led sales gains for companies on this week’s list. Includes the 2011 OC's LARGEST MINORITY-OWNED BUSINESSES list for download (pdf)

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Olson in Land Deal for 2 Tustin Hotels

REAL ESTATE: purchasing 7.5 acres from city for pair aimed at business

R.D. Olson has a land deal for a pair of hotels in Tustin

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Surf City Spotlight, Action Sports Showcase, 500,000 Fans

This year’s US Open of Surfing is set to make a big splash

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Firm Has New Office, More Hires on Docket

LAW: K&L Gates boosts Irvine, seeks partners, associates

LAW: K&L Gates’ Irvine office is shopping for new space

Friday, July 22

Diocese in $50 Million Cash Bid for Crystal Cathedral

The Roman Catholic Archdiocese of Orange on Friday made a $50 million bid for Crystal Cathedral Ministries' iconic building and 35-acre campus in Garden Grove.

Unemployment Rate Up as Seasonal Education Dip Offsets Slight Gain on Jobs

The county’s unemployment rate rose in June amid seasonal cutbacks in education that offset the private sector's modest rebound from job losses in May.

Register Publisher Retiring

The publisher of Irvine-based Freedom Communications Inc.'s Orange County Register is retiring.

Thursday, July 21

BJ’s Restaurants Beats Street on Profit, Revenue

Huntington Beach-based restaurant operator BJ’s Restaurants Inc. exceeded analyst expectations for the recently ended quarter on profit and revenue.

Western Digital Beats Expectations, Tops Rival

Irvine-based disk drive maker Western Digital Corp. on Thursday reported revenue and profits in the June quarter that beat Wall Street expectations.

Edwards Profit Edges Up; Shares Fall on Sapien Concerns

Edwards Lifesciences Corp. on Thursday posted a slightly higher second-quarter profit as growing sales of its heart valves offset higher costs.

For-Profit College Association Challenges New Regulations in Court

A group representing hundreds of private colleges has filed a lawsuit against the Department of Education in hopes of blocking new regulations on loan repayment and student debt levels.

Wednesday, July 20

FDA Panel OK’s Edwards Sapien Heart Valve

A Food and Drug Administration advisory panel on Wednesday cleared a replacement heart valve made by Irvine-based Edwards Lifesciences Corp. for patients too sick to have open-heart surgery.

Software Gaming Startup Gaikai Raises $30M

Aliso Viejo-based software startup Gaikai Inc. has raised $30 million from some big industry players in a recent funding round, the company announced Wednesday.

Microsemi Makes Hostile Bid for Canadian Company

Irvine-based chipmaker Microsemi Corp. announced plans to take a $548.7 million cash offer for Zarlink Semiconductor Inc. to shareholders after directors of the Canadian company turned down two earlier offers.

Tuesday, July 19

Microsemi Buys Technology for ‘Touchless’ Scanners

Irvine-based chipmaker Microsemi Corp. has acquired a specialized technology used to detect weapons and contraband in airports, military posts, government buildings and other law enforcement settings, the company announced Tuesday.

Knobbe Martens to Open Silicon Valley Office in Fall

Irvine-based intellectual property law firm Knobbe Martens Olson & Bear LLP is looking to grow in Silicon Valley with a new office.

Mobilitie Gets $415M for Expansion

Newport Beach’s Mobilitie LLC, which buys and builds cell phone towers and then leases them to wireless phone network operators, has secured a $415 million credit line with Toronto-based TD Securities.

Allergan Buys Venture-Backed Dermatology Company

Irvine’s Allergan Inc. said Tuesday that it is spending up to $275 million to buy a skin drug maker.

Monday, July 18

ICU Medical Beats Estimates

San Clemente-based device maker ICU Medical Inc. on Monday posted second-quarter financial results that surpassed Wall Street’s expectations and issued a mixed full-year outlook.

Red Digital's Epic Camera Available for Sale

Lake Forest-based Red Digital Cinema Camera Co. has released its Epic-M camera.

Pacific Life Buys Unit of Canada's Largest Insurer

Newport Beach’s Pacific Life Insurance Co. is buying a unit of Canada’s largest insurance company.

Former Volcom CFO Joins Skullcandy Board

The former chief financial officer of Costa Mesa-based Volcom Inc. is now on the board of trendy headphone maker Skullcandy Inc.

Sunday, July 17

M&A Buzz: Firms Look to Get Bigger With Buys

Trend has everyone talking, “lot of meetings taking place”

As competition gives way to talks of possible buys, mergers are adding up as a factor to consider in Orange County’s accounting industry.

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Industrial Buyers Shift Hunt to ‘Value-Add Buildings’

REAL ESTATE: Recent buys point to appetite for more risk

A string of recent industrial buys suggest a turnaround in the sector

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BlizzCon Set to Host Gamers’ Big Battles

TECHNOLOGY: $300,000 for top players at Anaheim fan fest

Blizzard is bringing two big online gaming competitions to OC


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

Ellipse Spine Device Ready for Europe, FDA Talks On

HEALTHCARE: Veteran investor at helm; bid for non-invasive treatment

Ellipse Technologies is prepping for the release of its spine device in Europe

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Q&A: Jon Gray

Market View of Talon Automotive Chief, OC Auto Dealers Association President

A Q & A with OC Automobile Dealers Association President Jon Gray

Apparel Makers Turn to Own Stores in Selective Sales Push

RETAIL: Six open, planned in recent months; Volcom on PCH

A number of local apparel makers are opening stores

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Fundraisers and charitable donations from companies and people

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Microsemi’s Latest Deal Gets Strong Initial Reviews

Buy in Sunnyvale Plays to Aerospace Heritage

Microsemi’s latest buy gave shares a boost, in Technology

State Board Targets Men in Message on Milk, PMS

Got Milk? Agency Tries Humor in Latest Pitch

The group best known for “Got Milk?” is targeting men, in Media and Marketing

Masimo Upgraded on Improvements Near and Far

Demand in China, Brazil Help; Nod for Baxter, too

Masimo is set to outperform the stock market, in Healthcare


Other items of interest Orange County Business Journal

MARKET WATCH - July 18, 2011

The Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance

Foreclosed Anaheim Office Built on Spec Sells for $14M

Opened at End of Boom; Near-Full on New Leases

An Anaheim office built during the boom has traded hands, in Real Estate

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R&D Occupancy Falls; Lack of Construction Keeps Lease Rates Up

The county’s R & D sector saw a downward turn

PBS Groundbreaking

PBS SoCal recently broke ground on a Costa Mesa studio

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Accounting Firms Poised to Turn Tide With New Hires

Nearly held even last year; gains expected as clients resume growth

ABOUT THE LIST - Orange County’s accounting firms have stemmed worker losses as more of their clients plan for growth, mergers and new tax laws and regulations. Includes the 2011 OC's LARGEST ACCOUNTING FIRMS list for download (pdf)

Sabra Puts $97.5M Into Diversification Plan

HEALTHCARE: Deals would cut reliance on Sun; offering in works

Sabra Health Care is spending nearly $100 million for four nursing homes

Penske Buy Calls for Crevier Culture to Carry On

AUTOS: No job cuts seen, charitable efforts to continue

Penske has bought Crevier BMW and Mini Cooper at the Santa Ana Auto Mall

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Consultants End Jobs Dip as Corporate Spending Returns

Two-year losing streak over; Resources Global tops list again

ABOUT THE LIST - The county’s largest management consultants combined to hold steady on employment in the past 12 months after more than two years of shedding jobs. Includes the 2011 OC's LARGEST MANAGEMENT CONSULTANTS List for download (pdf)

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Clean Energy: $150M Is ‘Game Changer’

ENERGY: plans for more fuel stations, commercial adoption

Clean Energy Fuels says a recent $150 million investment is a game changer

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CALENDAR - July 18-27, 2011

A listing of events happening all around Orange County. July 18-27, 2011

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Glaucoma Cluster Keys

VCs, UC Irvine, 65M Customers Around World

Local glaucoma companies are vying for share in a booming market

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Asian Investors Step Up on Spectrum Buy

REAL ESTATE: $56.5 million for Yard House HQ building

An investor with Chinese ties has bought a prominent Irvine Spectrum building

Hill Corp. Does Growth Dance

RETAIL: Anaheim retailer gains in consolidation, eyes global sales

Hill Corp. has expanded into the East Coast with two recent buys

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OCers Join Royal Welcome; DiCaprio Heads Fisker List

OC INSIDER Column by Rick Reiff

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Friday, July 15

Ambiguous, Comune Founder Launches New Apparel Company

Serial entrepreneur Frank Delgadillo, the founder of the Ambiguous and Comune brands, has launched a new apparel company called Chapter.

Thursday, July 14

Resources Connection Shares Jump on Quarterly Results

Shares of Irvine-based Resources Connection Inc. were up in afterhours trading after the professional services firm beat analysts’ expectations on profit for the recently ended quarter.

Taco Bell U.S. Sales Fall More Than Expected

Irvine-based Taco Bell Corp.’s sales during the recently ended quarter continued to fall on lingering effects of a dropped lawsuit against the fast food chain.

Wednesday, July 13

Newport Corp. Buying Austrian Laser Maker

Irvine’s Newport Corp., which makes lasers and related equipment, is buying an Austrian laser designer and manufacturer in its second deal in as many weeks.

Online Gamers’ Big Battles Coming to Anaheim

Irvine’s Blizzard Entertainment Inc. is bringing two of the biggest online gaming competitions in the world back home.

Tuesday, July 12

Quest Software Cuts Sales and Profit Outlook, Shares Sink

Shares of Aliso Viejo-based Quest Software Inc. plummeted in afterhours New York trading after the company cut its sales and profit outlook in the June quarter and fiscal year.

Clean Energy Shares Jump on $150M Investment

Shares of Seal Beach-based Clean Energy Fuels Corp. jumped Tuesday, a day after the natural gas fueling stations operator received $150 million in seed money from Chesapeake Energy Corp.

Penske Buys Crevier BMW

Michigan’s Penske Automotive Group Inc. has purchased Santa Ana-based Crevier BMW and Mini for an undisclosed amount.

Monday, July 11 Buys Daily Deals Site

Irvine-based Corp. continued to grow its daily deals business with its purchase of Screamin’ Media Group Inc.

Sunday, July 10

New Lease on Life

Interior Design Firms Benefit From Landlords’ Concessions

A lot of companies taking advantage of the still-recovering market for office space in Orange County are getting a bonus in the form of concessions.

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Tenant Improvement Contractors End Two-Year Dip, Eye More

Office bargains, relocations spur business; KPRS holds No. 1 despite revenue lag

ABOUT THE LIST: Includes the 2011 OC's LARGEST TENANT IMPROVEMENT CONTRACTORS list for download (pdf)

Lost in Lido

Once-Vibrant Retail Village Seeks New Course

Newport Beach’s Lido Marina Village has fallen on hard times in recent years

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

Corporate Lawyers Honored

Scenes from business, social, charity and other events

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2600 Michelson Sale Ups Office Rebound

REAL ESTATE: Santa Monica firm with Maguire ties gets 308,000 SF

An Irvine office tower has traded hands for an estimated $70 million

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Med School Drives Chapman’s Bid on Crystal Cathedral

EDUCATION: Doti says donors interested; in talks on Hoag link

Chapman is eyeing the Crystal Cathedral as a site for a medical school

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Oakley Lawyer Big on Basics

LAW: Alpay, four others chosen as honorees at 2nd annual event

GENERAL COUNSEL AWARDS - A look at the honorees: John Alpay, Foothill Ranch-based Oakley Inc.

Schuller Gets Snub From His Board, Visit from Chapman

OC INSIDER Column by Rick Reiff

Sign of Edwards’ Progress: Lawsuits by Rival

HEALTHCARE: Medtronic presses new cases ahead of key FDA panel

Edwards Lifesciences is back in court with a longtime rival

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MARKET WATCH - June 27, 2011

The Week's Best, Worst Performers; Roth OC50, Billion Dollar Club, OC Tech; Index Watch, 52-week Performance

Lantronix Agenda: Executive Search, Internal Shift

TECHNOLOGY: Interim CEO Sanders aims to cut red tape

Lantronix recently saw an executive shake-up that has it regrouping


Other items of interest Orange County Business Journal

CALENDAR - July 11-20, 2011

A listing of events happening all around Orange County. July 11-20, 2011

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Taco Bell Adds TV Network, Wi-Fi for Summer Push

Sees Potential Sales Boost in Longer Customer Visits

Taco Bell is making changes to its U.S. restaurants, in Media and Marketing

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Local Roots Support Growth of UnitedHealth Unit

Former PacifiCare Unit Eyes $19 Billion in Sales

The prescription drug arm of UnitedHealth is looking to grow, in Healthcare

Renter Foresaw Dip, Gets Back in With Shore Cliffs Buy

$4.5M for Five-Bedroom Home Near Little Corona

A former Pimco executive bought a house in Shore Cliffs for $4.5 million

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College Math: $38.3 Million for Fullerton Apartments

Nutwood Avenue Complex Goes for $154,000 Per Unit

An apartment complex in Fullerton has traded hands, in Real Estate

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Industrial Market Momentum in West County

The west county submarket started the year with a healthy run of activity

How to Dodge Default, Spur Growth


Congressman Ed Royce thinks corporate tax breaks will help the economy

Tilly’s IPO Modest Next to Growth Plan

RETAIL: “most” of proceeds to founders before expansion

Tilly’s has filed for a $100 million initial public offering

Live Nation, Others Spur Growth Plans for E-Recycler

ENVIRONMENT: All Green riding security, recycling trends

All Green Electronics Recycling is planning a local and national expansion

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No Spinning This

Kudos for CoreLogic Split, Subsequent Sales, Acquisitions

GENERAL COUNSEL AWARDS - A look at the honorees: Stergios “Terry” Theologides, CoreLogic Inc.

The Lawyers’ Lawyer

Peterson Serves Knobbe Martens With ‘Grace and Style’

GENERAL COUNSEL AWARDS - A look at the honorees:

Allergan’s Rising Star

Maletta Wears Several Hats, Values Legal Department’s Culture

GENERAL COUNSEL AWARDS - A look at the honorees: Matthew Maletta, Allergan Inc.


Fundraisers and charitable donations from companies and people

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How Did He Do That?

Burke Gets Results, Plaudits for Leadership Style

GENERAL COUNSEL AWARDS - A look at the honorees: Daniel Burke, St. John Knits International Inc.

Blizzard Gives Gamers All the Time in the ‘World’

14-Day Cap on Trial Lifted; “Bait” Good Until Level 20

Blizzard has a new deal for potential players of its main game, in Technology

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Friday, July 8

Newport Corp. Buying Israeli Competitor

Irvine’s Newport Corp., which makes lasers and related equipment, is buying an Israeli equipment maker for $230 million, the company announced Friday. Shares Jump on Google Deal

Shares of Irvine-based search engine operator Corp. surged Friday on news that the company has signed a two-year deal with Google Inc.

Thursday, July 7

M-Flex Shares Sink on Tempered Revenue Outlook

Shares of Anaheim’s Multi-Fineline Electronix Inc. plummeted in afterhours trading Thursday after the company cut its sales outlook for the June quarter.

Wet Seal Beats Wall Street Expectations on June Sales

Shares of Foothill Ranch-based Wet Seal Inc. rose after the company reported higher than expected June sales.

TowerJazz Sells Stake in Chinese Plant

Israel’s Tower Semiconductor Ltd., which runs a chip plant in Newport Beach, plans to sell its stake in a Chinese foundry it acquired in 2003.

Lake Forest Medical Device Maker Picks up $5 Million Investment

Lake Forest-based medical device maker Tenex Health Inc. said it recently received $5 million in private equity financing. T

Wednesday, July 6

Diocese of Orange Interested in Crystal Cathedral

The Diocese of Orange, which has sought to build a new cathedral here for some time, is interested in the Crystal Cathedral Ministries' iconic building and campus in Garden Grove.

Microsemi Buys Northern California Chipmaker

Irvine-based Microsemi Corp. has acquired ASIC Advantage Inc., a Northern California “fabless” chipmaker.

Tuesday, July 5

Chapman Bids $46M to Buy Crystal Cathedral Campus

Chapman University in Orange has made a $46-million bid to purchase Crystal Cathedral Ministries' 35-acre campus in Garden Grove.

Volcom Names CFO

Doug Collier has ended an 18-year run as chief financial officer at Costa Mesa-based Volcom Inc.

Sunday, July 3

Are Light Bulbs Next Bright Idea for Vizio?

TECHNOLOGY: looks to build on LEDs used in flat TV sets

Irvine’s Vizio is changing things up with its new product: light bulbs

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Colorado Dreamin’

Emily Weisburg thinks OC could take a page from Colorado’s book

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Grubb Aims to Boost Balance Sheet in Brea Sale

Office Part of NNN Realty, Tenant-in-Common Legacy

A Brea office building is on the sales block, in Real Estate

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CALENDAR - July 5-13, 2011

EVENTS CALENDAR - A listing of events happening all around Orange County. July 5-13, 2011

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

Westcliff Legacy Seen as Feather in LabCorp’s Cap

Buy Helps Test Firm “Do a Little Better” Than Rival

A recent buy is boosting LabCorp’s outlook, in Healthcare

Toshiba PR Tool Kit Targets Dealers for Phone System

Aims to Give Middlemen All They Need on Launch

Toshiba is marketing its phone system thoroughly, in Media and Marketing

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Good Reviews, Room at Wal-Mart for Vizio’s Tablet

Another Step Beyond Flat TVs in Stores This Month

Vizio has entered the tablet market, in Technology

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Additional items of interest Orange County Business Journal

Experian Buys Texas Medical Software Company for $185M

Experian PLC said last week that it was buying Medical Present Value Inc. for $185 million.

Purse, Jewelry Designer Lands Mariah Carey, Others as Fans

APPAREL: Yorba Linda mom does clutches with glam flare

Michelle Monroe’s jewelry, handbags appeal to stars and regular consumers

Restaurant Chain Sales Flat; New Marketing, Menu Items

DINING: 2010 sales flat at $7B, recovery seen playing out in ’11

ABOUT THE LIST - Locally based restaurant chains saw sales take a slight dip last year. Includes the 2011 OC's LARGEST OC-BASED RESTAURANTS list for download (pdf)

Anaheim Company Lands $30 Million Contract in Guam

CONSTRUCTION: Boosted by status as veteran-owned business

LM2 Construction nabbed a $30 million contract from the Defense Department

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Sullivan Named Editor of OC Business Journal

MEDIA: Lyster joins Irvine Co. as corporate communications VP

The Business Journal’s Jerry Sullivan is set to take over as editor

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Cal State Fullerton Index Takes a Dip

ECONOMY: Local Q3 outlook falls on national, global concerns

Cal State Fullerton’s index shows a tempered outlook for the third quarter

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Beckman Leader Drops ‘Interim’

HEALTHCARE: Hurley made CEO; Danaher names directors

Interim chief J. Robert Hurley is set to head Beckman Coulter

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Myspace Could Be Game Changer for Irvine Buyer

MEDIA: Media firm ‘more like Yahoo’ with deal for flagging site

Irvine’s Specific Media bought social networking site Myspace

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Honors for Top General Counsels

LAW: 2nd annual event draws more than 400, recognizes five

Laywers for Oakley Inc., CoreLogic Inc. and others were honored last week at the Business Journal’s second annual General Counsel Awards at the Hyatt Regency Irvine.

Ivantis: $17 Million Funding, European OK for Eye Device

HEALTHCARE: Low-profile, high hopes on glaucoma device

Ivantis got $17 million in a round of venture funding for its main product

REAL ESTATE WATCH: Manufacturing & Warehouse

R&D Occupancy Falls; Lack of Construction Keeps Lease Rates Up

The county’s R & D sector saw a downward turn in the first quarter.

Sullen Plans Bigger Digs, Expansion on East Coast

APPAREL: tattoos are “brand vision,” juniors line in works

Sullen Clothing is doubling the size of its Huntington Beach headquarters

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Vertos Medical Doubles Size of Aliso Viejo HQ

HEALTHCARE: room to train more doctors; new hires in works

Vertos Medical will move to a bigger headquarters in Aliso Viejo this year

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Corporate Counsels Loosen Their Ties; Editor Wears Hat

OC INSIDER Column by Rick Reiff

Buñuelos to BlackBerrys

Hispanics Move Up, Fiesta Market Moves On

Santa Ana’s Fiesta Marketplace is rebranding itself

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Newport Firm in Deal With Oaktree

FINANCE: debt specialist sees new hires, bigger office ahead

Sabal Financial Group plans to expand into lending and boost hiring

Worldly Dining

From Afghan to Vietnamese, Restaurants Bring Global Flavor

Fifi Chao picks her favorite local ethnic eateries.

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Restaurateur of the Year: Joe Manzella

Man Behind Taps, Catch is Indie Success Story

Joe Manzella has been named the Business Journal’s Restaurateur of the Year

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Friday, July 1

Irvine Thrift Buys Desert Commercial

Irvine-based based First Foundation Bank will pay $16 million in cash and stock for Desert Commercial Bank in El Centro.

Automakers’ June Sales Up

Orange County automakers saw vehicle sales rise in June even as sales nationally stalled on production and inventory issues.

Tilly's Files for $100 Million IPO

Irvine-based action sports retailer Tilly's Inc. filed documents with the Securities and Exchange Commission on Friday to raise $100 million in an initial public offering.

Last Call: Fast-Growing Private Companies Wanted for Annual List

The Business Journal is producing its fifth annual list of fast-growing privately held companies in October.

La Jolla Group President Steps Down

The president of Irvine-based action sports apparel maker La Jolla Group is no longer with the company.