Stories for March 2011
Thursday, March 31
Irvine healthcare real estate investor Sabra Health Care REIT Inc. said Thursday that it made its first deal since its November spinoff from Sun Healthcare Group Inc.
So much for Warren Buffett's philosophy of leaving his managers alone. A key Buffett lieutenant resigned this week, and said he bought shares in a company he later pitched to his boss.
The number of Americans claiming jobless benefits fell last week and factory employment in the U.S. Midwest hit a 27-year high in March, more signs that an improvement in the labor market is under way.
Fixed mortgage rates rose slightly this week, but the average rate on the 30-year loan remained below 5%.
Orange County drew 42.7 million visitors in 2010, about even with 2009, while spending by tourists and business visitors rose 4% to $7.4 billion, according to the Anaheim/Orange County Visitor & Convention Bureau.
Wednesday, March 30
Shares of Irvine-based computer memory products maker Netlist Inc. jumped Wednesday on word of newly granted patents.
There’s another big move in shares of Santa Ana-based Grubb & Ellis Co. on word the real estate brokerage has secured $18 million in financing.
Private employers added 201,000 jobs in March, while February's figure was revised down slightly, a report by a payrolls processor showed.
U.S. chief executives' view of the economy brightened in the first quarter, with more than half now ready to add jobs -- a critical step if the economy's recovery is to gain steam.
President Barack Obama set an ambitious goal to cut U.S. oil imports by a third over 10 years, focusing on a source of anxiety for Americans as high gasoline prices threaten economic recovery.
Drug maker Valeant Pharmaceuticals, which moved its headquarters from Aliso Viejo to Canada late last year, is the story of the day on Wall Street with a hostile takeover bid for Pennsylvania biotechnology company Cephalon Inc.
Tuesday, March 29
Irvine-based Cardiogenesis Corp. is being bought for $22 million by CryoLife Inc., the companies said Tuesday.
Sales at Orange County auto dealers rose sharply in February, increasing 49% from a year earlier to 8,727 autos, according to the Newport Beach-based Orange County Automobile Dealers Association.
Consumer confidence fell in March as households worried about inflation, while home prices fell for the seventh straight month in January, pointing to a loss in momentum in the economy.
Shares in oil major BP fell on a report the company's managers could face manslaughter charges following the Gulf of Mexico oil spill, which could lead to much higher fines over the disaster.
U.S. auto sales in March are expected to rise about 12% from last year's depressed levels, but high gasoline prices and production problems caused by the Japanese earthquake could slow a recovery, analysts and investors said.
Shares of Santa Ana-based Grubb & Ellis Co. rose Tuesday after a big swoon on Monday.
Monday, March 28
Tustin-based Raj Manufacturing Inc. said it struck a deal to sell women’s swimsuits under the Nautica Apparel Inc. brand.
Orange County executives are more optimistic about the economy than they’ve been since before the recent recession, according to economists at California State University, Fullerton.
EADS has ended a three-year acquisition drought in North America with a $640 million cash bid for Canadian overhaul and repair firm Vector Aerospace.
Consumer spending rose for an eighth straight month in February, but much of the gain went to cover rising food and energy prices, providing little lift to the economy.
EBay Inc. plans to buy e-commerce company GSI Commerce for $1.96 billion in cash in a bid to draw more buyers and sellers to its online marketplaces.
Sunday, March 27
Deal Calls for Joint Effort on “Multi-Project Wafers”
Jazz Semiconductor inked a deal with a French nonprofit, in Technology
New Mix Shows More Comfort With Risk, Little Taste for Treasuries
The ongoing economic recovery and rising stock indexes have some of the top wealth advisers in Orange County shifting strategies to meet market conditions and their clients’ needs.
Merrill Lynch survey says local wealth managers more likely to get call for strategy discussions
Local retirees are discussing investment strategies and portfolio allocations more often with their financial adviser compared to their peers across the country.
Commentary. Shelley Hoss, president of the Orange County Community Foundation, offers ways for OC residents to get more connected
MARKETING: Brand Affinity ties celebs, jocks with marketers
ENTREPRENEURS: Profiles of the Business Journal’s Entrepreneur of the Year award winners: Ryan and Chad Steelberg, Brand Affinity Technologies Inc.
Leading wealth managers used new mixes to keep clients during downturn, grow with recovery
ABOUT THE LIST: The county’s top wealth managers held on to most of their clients through the downturn and are picking up new business as the economy recovers. Includes the 2011 OC's TOP WEALTH MANAGERS list for download (pdf)
ECONOMY: Executive sentiment highest in four years
Local executives are more optimistic for the second quarter
HEALTHCARE: Device maker in Europe trials; spy technology
Advanced Cardiac Therapeutics has started a European trial
Dental Services Exec Eyes $600M in Sales
ENTREPRENEURS: Profiles of the Business Journal’s Entrepreneur of the Year award winners: Steven Bilt, chief executive and cofounder of Smile Brands Group Inc., an Irvine provider of management services to dentists.
RETAIL: Could close 150; “has to win” warm-weather quarters
Pacific Sunwear of California’s turnaround has been slower than expected
Industrial Market Tightens, Sees Big Deals
The county’s industrial market had several big deals go through last year
List of Top Deals Up 70%, Investor Interest Increasing
Office deals in the country are steadily increasing, in Real Estate
Distribution Hurdles Seen, Some Production Exposed
Japan’s earthquake may disrupt sales for local device makers, in Healthcare
360 Creative Lab Signs On Client, Looking for More
360 Commercial Partners is getting into advertising, in Media and Marketing
Drumwright Started Trace3 With Nearly Nothing, Eyeing $500M in Sales by 2014
ENTREPRENEURS: Profiles of the Business Journal’s Entrepreneur of the Year award winners: Hayes Drumwright, founder and Chief Executive, Trace3.
TECHNOLOGY: Local.com’s seen boom, busts, Web scrutiny
ENTREPRENEURS: Profiles of the Business Journal’s Entrepreneur of the Year award winners: Heath Clarke, Local.com Corp. cofounder and Chief Executive
MANUFACTURING: Kurtz diversifies into solar, other areas
ENTREPRENEURS: Profiles of the Business Journal’s Entrepreneur of the Year award winners: Mari Kurtz, chief executive of Santa Ana-based Cal Pac Sheet Metal Inc. and OC Metals Inc.
DINING: Big chains in better shape to handle; bankruptcies?
Rising food costs likely will affect local restaurants
HEALTHCARE: Glaukos has lured $126M for glaucoma stents
Laguna Hills device maker Glaukos has big plans for its eye implant
REAL ESTATE: Plans to grow revenue, market share in OC
Kurt Strasmann is leaving Voit for CB Richard Ellis Group
REAL ESTATE: Project planned on speculation; nearly 900,000 SF
Panattoni Development is moving ahead with plans for industrial buildings
REAL ESTATE: Buys in Mira Loma, La Mirada, Vegas area
Bixby Land bought four industrial buildings for $58 million
Friday, March 25
Job gains in the government, professional services, and education and health sectors sent the county unemployment rate in February below 9% for the second time in three months.
The economy grew more quickly than previously estimated in the fourth quarter as businesses restocked shelves to meet rising demand and maintained fairly solid spending.
Research In Motion is facing skeptical investors unsure the BlackBerry maker can pull off a difficult transition as it promises strong growth based on a tablet and operating system few have seen.
Consumer sentiment in March fell to its lowest level in more than a year as gasoline and food prices rose, a survey showed.
Shares of Foothill Ranch-based Wet Seal Inc. surged Friday, a day after the mall retailer beat sales forecasts for the recently ended quarter and projected another gain in the current quarter.
Thursday, March 24
Standard & Poor’s said Thursday it is adding Irvine-based Edwards Lifesciences Corp. to its S&P 500 index, effective March 31.
The parent of Costa Mesa-based El Pollo Loco Inc. reported lower sales and a loss in 2010 as the company continued to struggle with high unemployment and a competitive environment for the restaurant industry.
New orders for long-lasting manufactured goods fell in February, hinting at some unexpected softness in manufacturing activity and business investment plans.
Walgreen Co. plans to buy drugstore.com for $429 million, expanding the online presence of the world's largest drugstore chain.
No. 1 U.S. electronics chain Best Buy Co. said that its fiscal fourth-quarter profit fell 16%, hurt by lower sales of televisions, notebook computers and video games.
Shares of Irvine-based Microsemi Corp., a maker of chips for military, aerospace and consumer uses, jumped on Thursday after an analyst said its March quarter sales could come in above its outlook.
Wednesday, March 23
Irvine-based chipmaker Broadcom Corp. has outlined the terms of a preliminary settlement with a current executive and two former executives to resolve a shareholder lawsuit dealing with stock options backdating.
Lake Forest-based InSight Health Services Holdings Corp. said Wednesday that it has emerged from bankruptcy protection.
Legacy Electronics Inc., a local maker of memory boards for computers, is moving its headquarters to South Dakota from San Clemente.
The Federal Reserve objected to Bank of America Corp.'s plans to boost the dividend and told the bank to revise its proposal, sending its shares down 2.7% in morning trading.
ConocoPhillips, the third-largest U.S. oil company, said it might double its planned sale of less-desirable assets to $20 billion, with proceeds going to buy back stock.
Sales of new single-family homes collapsed in February, the Commerce Department reported, as a combination of high unemployment, tumbling prices and a glut of cheaper alternatives brought activity to a near-standstill.
Tuesday, March 22
Newport Beach-based mutual fund manager Pacific Investment Management Co. is said to have raised more than $1.5 billion to buy assets from banks looking to shore up their balance sheets.
Research In Motion's long-awaited tablet, the BlackBerry PlayBook, will go on sale in North America on April 19 at a base price of $499, matching the pricing for Apple's latest iPad.
Walgreen Co. said that its second-quarter profit rose 10%, helped by Valentine’s Day sales, a late flu season and more prescriptions filled, but shares of the drugstore chain dropped sharply.
Express Inc.'s largest shareholder and others plan to sell 16.5 million shares of the fashion retailer in a public offering, according to a regulatory filing.
Santa Ana-based title insurer First American Financial Corp. has made two notable appointments to its board of directors: Thomas McKernan and Michael McKee.
Monday, March 21
Foothill Ranch-based mall retailer Wet Seal Inc. on Monday appointed a former discount retailer executive to be its president and chief operating officer.
Santa Ana-based Grubb & Ellis Co. said on Monday that it has hired an investment bank to explore a potential sale of the company.
Investors cheered AT&T Inc.'s deal to snap up Deutsche Telekom AG's T-Mobile USA in a $39 billion transaction that reshapes the U.S. wireless landscape.
Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years, implying a housing market recovery was still a long way off.
Citigroup Inc. will slash the number of common shares outstanding and reintroduce a dividend, taking another step in its long recovery from the brink of failure during the financial crisis.
Irvine-based chipmaker Broadcom Corp. is buying Israeli chip startup Provigent Ltd. for $313 million.
Sunday, March 20
Six Luxury Homes Sold in Jan.; Priciest $11.5M
Luxury home sales have slowed down in the last month and a half, in Luxury Homes
AUTO: Seeking to use excess space at 3.2 million sq. ft. plant
Fisker Automotive looks into producing vehicles for other automakers
HONORS: Awarded for work in downturn, expansions, deals
OC’s National Human Resources Association recognized local executives
APPAREL: Squeeze comes at delicate time in industry rebound
Local clothing companies grapple with rising cotton prices
HEALTHCARE: Company leaving about 300 workers here
AccentCare is moving its headquarters from the Irvine Spectrum to Dallas
HEALTHCARE: Custom items drive company’s diversification
ICU Medical has lessened its dependence on its largest customer
FINANCE: ‘Brain scans’ for fit; new HQ, stock funds in works
Pimco is making a hiring push as it diversifies into stock funds
TECHNOLOGY: Ultimate set to join local cluster, employ 50 here
Florida’s Ultimate Software Group plans to open an office in Santa Ana
REAL ESTATE: 1,350 homes moving ahead at La Floresta
A big housing development in Brea is ramping up construction
HEALTHCARE: Allergan gets strong start on migraine use; eye drugs steady
Allergan is set to see growth on Botox for migraines and other drugs
Kingston Had Banner 2010, $6.5B in Sales; Earthquake Poses Questions for This Year
Japan’s recent earthquake and tsunami could disrupt production for Kingston
Interest rate hikes expected to cut refinance business after 16% boost in dollar volume in 2010
Orange County’s largest title insurers saw a second straight year of gains in 2010 but remain on the defensive due to expectations of higher interest rates that could bring a slowdown in refinance work. Includes the 2011 OC's LARGEST TITLE INSURERS list for download (pdf)
Lot of Big Deals From Class of 2007 Fell Short of Peak Potential, Sold Cheap Last Year
ABOUT THE LIST: If the Business Journal’s list of largest deals in 2007 was a school yearbook, most of the companies featured in it would long ago have tossed it into the back of their closet.
Top deals near 2007 peak; buyers find few opportunities; big corporations fuel leasing
A frenzied pace of headline-grabbing deals toward the end of the year helped make 2010 the most active year for single-asset commercial real estate sales in Orange County since 2006.
Sector set pace for big deals in 2010; demographics, roster of shoppers point to more of same
Recent sales trends indicate that the apartment sector in Orange County has picked up where it left off during the peak days of the last real estate boom.
North County Industrial Tightens: Higher Rents, Development?
North County’s industrial market could see higher rents and development soon
Renewal for More Than 600,000SF at Call Center
Fulfillment Corporation of America is relocating to Brea, in Real Estate
Posts Unexpected Profit; Competition Increasing
Spectrum Pharmaceuticals topped expectations last quarter, in Healthcare
Effort Includes Print, TV, Online Spots by DGWB
CHOC debuts a new marketing campaign, in Media and Marketing
Console King Eyes Profits in Multiplayer PC Games
Blizzard’s top rival plans a new online game, in Technology
FINANCE: Stock market gains help, price cuts pinch annuities
Pacific Life Insurance is turning a corner after an industrywide downturn
HEALTHCARE: Company has 5 Beijing plants, 1,200 workers
Irvine’s Pharmaron Holding recently raised $40 million in funding
Friday, March 18
Broadcom Corp. cofounders Henry Nicholas and Henry Samueli have agreed to pay the company more than $50 million as part of the chipmaker’s settlement of a shareholder lawsuit dealing with stock options backdating, according to a report.
The Federal Reserve will allow some of the largest U.S. banks to boost or restart dividends payments this year but will restrict the amounts to 30% or less of the company's anticipated earnings, the central bank said.
General Mills is set to pay $1.12 billion for half the Yoplait yogurt brand, allowing the company to settle a management dispute and pursue emerging markets growth.
Private equity firm CVC is the frontrunner to seal Europe's biggest private equity buyout of the year for German cable operator Kabel Baden Wuerttemberg, people familiar with the situation said.
Fletcher Jones Motorcars, whose Newport Beach Mercedes dealership is the largest in the county, is reviving postponed plans to open a dealership in Ontario.
Thursday, March 17
Steve Bilt, cofounder of Irvine-based dental services company Smile Brands Group Inc., was honored along with five others at the Business Journal’s 10th annual Excellence in Entrepreneurship Awards in Irvine.
Consumer prices rose at their fastest pace in more than 1-1/2 years in February, driven by higher food and energy prices, but underlying inflation pressures remained generally contained.
FedEx Corp., the world's largest cargo airline, forecast improved revenue and margins in the current quarter and beyond, and sees more shipments for reconstruction in Japan.
Daily deals website Groupon could be valued at as much as $25 billion in an initial public offering, Bloomberg reported, citing two people with knowledge of the company's discussions with banks.
Irvine-based Allergan Inc. has had its debt ratings raised by Fitch Ratings Inc.
The Sacramento Kings basketball team has filed for rights to several names should the team move to Anaheim’s Honda Center.
Wednesday, March 16
Shares of Anaheim-based Pacific Sunwear of California Inc. fell Wednesday, a day the mall retailer missed expectations with quarterly results and offered a disappointing outlook for the current quarter.
The chief operating officer at Standard Pacific Corp. was named president of the Irvine-based homebuilder Wednesday, putting him on a path to potentially become chief executive.
Producer prices rose by 1.6% in February, as energy and consumer goods saw a strong increase, suggesting building inflationary pressures in the economy.
Oil prices jumped due to escalating violence in the Middle East and worries about oil supply from the region but retreated later on fears Japan's nuclear crisis was spinning out of control.
Peet's Coffee & Tea Inc. recently held talks with Starbucks Corp. about a potential sale to the large coffee shop chain, CNBC reported, citing a DealReporter report.
Tuesday, March 15
The median price paid for an Orange County home was $410,000 in February, a $5,000 or 1.2% decrease from the prior month, according to San Diego-based MDA DataQuick.
Santa Ana-based CoreLogic Inc., a provider of data to real estate and mortgage companies, has bought the remaining stake in a San Mateo–based mortgage software company it doesn’t already own for $32 million.
Stocks fell 1% as fears of a nuclear crisis in Japan fanned caution in equities and the market looked likely to extend its bearish trend.
Private equity firm Apollo Management is expected to price shares in its initial public offering at $18 to $20 each and sell 26 million shares, according to a CNBC report.
Northrop Grumman Corp. said its board has approved the spinoff of its shipbuilding business.
Monday, March 14
Shares of Santa Ana-based Corinthian Colleges Inc. surged Monday on word from the vocational school operator that fewer students defaulted on loans in the past two years.
A high-rise office tower in Newport Center is set to be built for investment manager Pacific Investment Management Co. starting this summer.
Billionaire Warren Buffett's Berkshire Hathaway Inc. struck a deal to buy lubricants maker Lubrizol Corp. for $9 billion, betting on a global economic recovery.
U.S. stocks fell to a six-week low as investors worried about the fallout of Japan's devastating earthquake and tsunami.
Anonymous, a hacker group sympathetic to WikiLeaks, released emails that it obtained from someone who said he is a former Bank of America Corp. employee.
Newport Beach-based Sanborn Theatres Inc., a family-owned movie theater operator, has hired an investment bank to explore a possible sale, financing or other options.
Fountain Valley-based Kingston Technology Co., the top maker of memory products for computers and consumer electronics, reported a big boost in 2010 sales after a year of rebounding prices for memory chips and improving demand.
Sunday, March 13
Nursing Home Building Owner Reports in Line
Sabra Health Care is holding its own so far, in Healthcare
Ocean Institute Teaches Kids; Hoteliers, Quiksilver’s McKnight on Board
BEYOND WORK - Businesspeople at play, charity: Dana Point’s Ocean Institute counts many OC executives as board members
Western Digital is set to become the leader in drives with a recent buy
FINANCE: Irvine-based CEO says buys due here, Bay Area
Opus Bank made its first acquisition with a buy in Seattle
REAL ESTATE: Rentals touted for business complex makeover
Construction on three apartment complexes in Irvine has been approved
Deals don’t depend on products in pipeline, find favor over IPOs
The healthcare industry here already has seen a pair of big deals this year, and buyouts could be the story for the rest of this year.
Laura Archuleta says that cuts to redevelopment agencies could hurt children.
Falling Lease Rates Spur Industrial, Office Activity in Airport Area
The John Wayne Airport Area is seeing declining rents. Includes Real Estate Watch industry performance charts.
Land Was Part of Maguire Buy Here Back in 2007
UCI bought land in Orange from MPG Office Trust, in Real Estate
Hockey Team Eyes Ticket Sales With Games, Alerts
The Ducks are using cell phone marketing, in Media and Marketing
Pent-Up Cash Meets Downturn’s Survivors for Burst of Action at Higher Prices
The window for bargains on mergers and acquisitions could be closing amid signs that private equity and corporate buyers are deploying stockpiles of cash amassed during the recent recession.
Low-Ball Offers Disappear, Potential for Stronger Exits Improves
Technology buyers and sellers seem to be finding a happy medium in their valuations, prompting a growing number of deals this year.
Hoped “I Inspired Some”; Toy Helicopter Raffled
Broadcom sponsored an Irvine science fair for kids, in Technology
LAW: Federal incentives drive projects; state rules spur suits
Environmental work for lawyers is growing
ECONOMY: $2.2B total for 2% increase after 2 years of declines
ABOUT THE LIST: Businesses owned by women saw an uptick in sales last year. Includes the 2011 OC's LARGEST WOMEN-OWNED BUSINESSES list for download (pdf)
Online Ad Company Specific Media Focuses on Web Commercials
Irvine’s Specific Media is betting on streaming video commercials
FINANCE: Boost from Chinese contingent; Joan Jett set to play
Roth Capital Partners expects the largest turnout ever for its stock conference
RETAIL: Aggressive plan cut in half, on par with 2010 openings
Wet Seal is scaling back an aggressive expansion plan
HEALTHCARE: Former Apria president now heading startup
Breathe Technologies plans to move its headquarters here from the Bay Area
TECHNOLOGY: Website, mail order catalog are techie nirvana
A look at Irvine gadget maker Smarthome
APPAREL: Maker of edgy clothes aims to get past $150M sales mark
Affliction is planning to expand with more store openings
Friday, March 11
Bill Gross, co-chief investment officer at Newport Beach-based Pacific Investment Management Co., elaborated Friday on his recent move to sell all U.S. bonds from his $236.9 billion Pimco Total Return fund, the world’s largest mutual fund.
Retail sales posted their largest gain in four months in February as shoppers stepped up purchases of autos, clothes and other goods even as they spent more for gasoline.
Consumer sentiment fell to its lowest level in five months in early March as gasoline prices rose, a survey showed.
99 Cents Only Stores has received a bid from the family that runs the company and a private equity firm to take the company private for $1.34 billion in cash, though some analysts said the company might be worth more than that.
Shares of Seal Beach’s Clean Energy Fuels Corp. jumped Friday a day after the operator of natural gas fueling stations reported better than expected earnings.
Thursday, March 10
Huntington Beach-based clothing maker Quiksilver Inc. reported an adjusted quarterly loss of $8.1 million on Thursday in line with Wall Street’s expectations.
The trade deficit widened much more than expected in January as surging imports of oil, capital goods and cars overpowered record exports in a signal of strengthening demand.
Moody's downgraded Spain's sovereign debt rating by one notch and warned of further cuts to come as it expects bank restructuring will cost more than twice what the government expects.
AOL Inc. will cut more than 900 jobs, or 20% of its global workforce, as it struggles to catch up to faster-moving rivals, a source close to the Internet company said.
Costa Mesa-based Ceradyne Inc., a maker of military and industrial ceramics, has taken a minority stake in a Japanese maker of materials for nuclear power plants, solar power, optical networks and chip making.
Bill Gross, co-chief investment officer at Newport Beach-based Pacific Investment Management Co., has sold all U.S. bonds from his $236.9 billion Pimco Total Return fund, the world’s largest mutual fund.
Wednesday, March 9
All but one of Orange County’s entries slipped in ranking on Forbes’ 2011 list of the world’s billionaires released Wednesday.
Newport Beach-based Alliance HealthCare Services Inc. reported mixed fourth-quarter financial results and reaffirmed its 2011 outlook on Wednesday.
Costa Mesa’s Ceradyne Inc. on Wednesday upped its profit forecast for 2011, citing better sales expectations and improved profits as business picks up.
Applications for home mortgages jumped to the highest level in three months last week, buoyed by improvements in the job market, an industry group said.
Dynegy Inc. said it may be forced to seek bankruptcy protection if it is unable to renegotiate credit agreements with its banks.
Drug-store chain Walgreen Co. plans to sell its pharmacy benefits management unit to Catalyst Health Solutions Inc. for $525 million.
Tuesday, March 8
Shares of Huntington Beach-based Quiksilver Inc. were up Tuesday after an analyst said it’s a good time to buy the stock as the company shifts its focus on growing its three major brands.
San Clemente voters today are taking up a controversial plan to redevelop part of the city’s North Beach area into shops, restaurants and office space.
Boeing Co. sealed deals worth $10 billion with two airlines in China, the world's fastest growing market that is likely to buy more than 2,000 aircraft over the next five years.
Shares in Deutsche Telekom AG and Sprint Nextel Corp. jumped on renewed talk the two companies may be in discussions to combine their operations in the United States.
Bank of America Corp. could have relatively high expenses for the next two years as it wrestles with mortgage losses, but longer term it plans to cut costs to improve profitability, its chief executive said.
F. Michael Ball, president of Irvine drug maker Allergan Inc., is the new chief executive of Hospira Inc.
Monday, March 7
Anaheim-based clothing maker Alstyle Apparel Inc. is laying off workers as it moves toward closing its two manufacturing facilities here.
Crude oil prices jumped to a 2-1/2-year peak and gold hit an all-time high as investors worried that widening unrest in Libya could spread to other oil-producing nations in the Middle East.
Moody's slashed Greece's credit rating by three notches due to an increased default risk, raising the specter that the distressed euro zone sovereign may have to restructure its debt, perhaps before 2013.
A spike in food and oil prices has made the threat of inflation more acute, leading central banks said, but they warned tightening of policy in response will not proceed at the same pace.
Shares of Irvine’s Western Digital Corp. soared on Monday on the announcement that it’s set to buy Northern California’s Hitachi Global Storage Technologies Ltd., a move that will make it the undisputed top disk drive maker.
Sunday, March 6
TECHNOLOGY: TV seller has 1% of market; hawked at Target
Westinghouse Digital is holding on as big rivals gain market share
MANUFACTURING: Demand growing; new plant to cut costs
Kaiser Aluminum is seeing a boost as its customers begin to recover
APPAREL: Now traded on low- profile exchange after acquisition
Shoemaker Auri in Laguna Beach has gone public in a reverse merger
APPAREL: Move to add FMF Racing follows new skate deal
La Jolla Group added a motorsports brand to its lineup of clothes
ANAHEIM: $6M deal; plan in works, expected in about a year
Sacramento’s Nor-Cal Beverage is expanding its Anaheim plant
REAL ESTATE: Industrial deal about half price from 2007 peak
A high-end Santa Ana industrial building has been sold out of receivership
TECHNOLOGY: Chittipeddi tapped, buyer called “hands-off”
Conexant Systems’ chief executive position has been settled
ENGINEERING: Lynch now is president, set for top job in 2013
Southland Industries has completed a five-year plan for picking its next CEO
REAL ESTATE: More space, 300 staffers; smaller shop in North OC
CB Richard Ellis is seeing a local restructuring
HEALTHCARE: Nationwide’s being absorbed after long courtship
Nationwide Health Partners is set to be bought by Ventas
Eddie Meza Started as Dishwasher—the Rest Is Anaheim White House History
Fifi Chao names Eddie Meza of the White House in Anaheim as Orange County’s Chef of The Year
Burgers and Pizza That Go Beyond the Ordinary Are Just the Beginning of Our Culinary Bargain
Fifi Chao profiles restaurants with more casual fare, in Fifi’s Best
South County Leads Office Market Rebound
South County is leading a turnaround in the office market.
Unit’s Profits Up 50% in Q4 From Year Ago
Commercial deals are boosting First American Financial, in Real Estate
PerkinElmer’s $5.1B offer Topped in Final Hours
Danaher and PerkinElmer competed for Beckman Coulter, in Healthcare
Drive Maker Set To Hire, Spend $400M at Factory
Western Digital is expanding operations in Singapore, in Technology
Agency Hired After Early Work on Pet Food Push
Draftfcb is Petco’s new agency of record, in Media and Marketing
Corona del Mar Deal Set To End Yearlong Listing
Selling luxury homes here can take six months plus
AUTOS: Net gain for nine here comes after three years of cuts
ABOUT THE LIST: Automakers with operations here saw a small uptick in hiring. Includes the 2011 OC's AUTOMAKERS list for download (pdf)
AUTOS: Sales up 6% to $3.4B; trend seen sticking for 2011
ABOUT THE LIST: The largest dealers here saw a jump in 2010 sales. Includes the 2011 OC's AUTO DEALERS List for download (pdf)
TECHNOLOGY: Seagate still tops by sales, trails by shipments
Western Digital topped Seagate by market share but still trails in revenue
Medtronic, Edwards Vie in Emerging Market; Makings for Epic Rivalry
Medtronic CoreValve and Edwards Lifesciences are facing off
Friday, March 4
Seasonal cutbacks across industries sent the unemployment rate in the county back above 9% in January as more job seekers entered the market.
Irvine drug maker Ista Pharmaceuticals Inc. said Friday it asked the Food and Drug Administration to reject a generic version of its drug for treating eye pain after cataract surgery.
Employers hired more workers in February than in any month since May last year and the unemployment rate fell to a near two-year low, the strongest sign yet the recovery has become self-sustaining.
Wal-Mart Stores Inc. said it is increasing its annual dividend nearly 21%, citing its ability to generate cash in a fiscal year that disappointed investors with weak U.S. sales.
Businesses ordered more manufactured goods from U.S. factories in January, but excluding a big surge in demand for airplanes, the rise in demand was the smallest in three months.
Thursday, March 3
Pharmaron Holding Ltd., an Irvine research and development company, has raised $40 million in a third round of funding.
New claims for unemployment benefits fell last week to their lowest level in more than 2-1/2 years, signaling an acceleration in job creation could be taking shape.
Top retailers posted stronger-than-expected sales gains for February, a show of strength that could dissipate this spring as rising gasoline and food prices take their toll.
The European Central Bank may hike interest rates next month, far earlier than markets expected, though any rise would not signal a series of increases, President Jean-Claude Trichet said.
Foothill Ranch-based mall clothing retailer Wet Seal Inc. reported better than expected February sales.
Wednesday, March 2
Sabra Health Care REIT Inc., an Irvine owner of nursing homes and other healthcare buildings, on Wednesday reported its first financial results since its November spinoff from Sun Healthcare Group Inc.
Irvine-based chipmaker Broadcom Corp. is thought to be in talks to buy Israeli chip startup Provigent Ltd.
Private sector employers added more jobs than expected last month in a sign of steady improvement in the labor market, ahead of the closely watched non-farm payrolls report from the Labor Department.
Federal Reserve Chairman Ben Bernanke said a Republican spending cut plan would not cause a big dent to U.S. economic growth, but could cost around 200,000 jobs.
Yahoo Inc. is in advanced talks to leave its Japanese joint venture in an effort to sort out its dysfunctional Asian partnerships and free up as much as $8 billion to fight Google and Facebook.
Irvine-based medical device maker Edwards Lifesciences Corp. said Wednesday that European regulators approved a new, larger version of its Sapien XT less-invasive heart valve.
Tuesday, March 1
Newport Beach chipmaker Conexant Systems Inc. plans to keep its top guy in place as chief executive under its new private equity parent.
General Motors Co.'s sales in its home market surged by 46% in February as sales incentives including lease deals and cash offers for existing GM owners drove shoppers to dealerships.
J. Crew Group Inc. will once again be a private company after shareholders approved a $2.86 billion deal for the retailer to be acquired by TPG Capital and Leonard Green & Partners LP.
February sales numbers that top chains report later this week will be the first sign of shoppers' ability and willingness to pay more for clothing and household items now that gas prices are rising.
Irvine-based homebuilder Standard Pacific Corp. has struck a $210 million credit line that the company plans to put to use buying land to build homes on.