Stories for July 2012
Tuesday, July 31
Midday Stock Roundup
The Nasdaq was down 0.05% to 2,944.23 in midday trading, while the Dow Jones Industrial Average fell 0.27% to 13,037.82.
Clinton Group: Private Equity Eyes Wet Seal
A private equity firm is eyeing Foothill Ranch-based teen retailer Wet Seal Inc., according to one of the company’s major shareholders.
Standard Pacific Plans Stock Offerings; Shares Slump
Shares of Irvine-based Standard Pacific Corp. slumped on Tuesday, the same day that the homebuilder announced a proposed $150 million convertible notes offering and concurrent common stock offering of 12.5 million shares.
Pimco Volunteer Week Hits Stride
Pacific Investment Management Co. continues its week of volunteering efforts throughout Orange County as part of the company’s worldwide initiative to have more than 1,000 employees participate in charity events in their local areas.
Seal Beach Plant Survives Dendreon Restructuring
Seattle-based Dendreon Corp. will keep its Seal Beach plant open as part of a manufacturing shakeup.
South County Bank Swings From Year-Ago Loss
Rancho Santa Margarita-based CalWest Bancorp reported net income of $36,000 for the second quarter, a turnaround from a year-ago loss of $278,000.
Report: Gross Earned $200M in 2011; El-Erian Heir Apparent
Newport Beach-based Pacific Investment Management Co. cofounder Bill Gross received about $200 million in compensation last year, according to a recent report in the New York Times, which was based on an anonymous source.
UCI, Chapman Law Schools Cited for ‘Scholarly Impact’
The University of California, Irvine, has been ranked No. 7 among accredited American law schools in terms of making a scholarly impact, in a study done by University of St. Thomas School of Law in Minnesota.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Monday, July 30
Dorsey Names New SoCal Head
Minneapolis-based law firm Dorsey & Whitney LLP has named Chris Dubia as the new head of the firm’s Southern California office in Costa Mesa.
OC Midday Stock Roundup
The Nasdaq was down 0.52% to 1,942.58 in midday trading, while the Dow Jones Industrial average fell 0.14% to 13,057.95. The S&P 500 was off 0.24% to 1,382.64.
9 Honored for OC Philanthropy
Nine business leaders and organizations will be honored at the National Philanthropy Day Orange County Awards on November 15 at a luncheon at the Hyatt Regency Orange County in Garden Grove.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Saturday, July 28
CALENDAR - July 31-Aug. 8, 2012
A listing of events happening all around Orange County.
By the Numbers - INSURANCE BROKERS IN ORANGE COUNTY
Orange County has about 1,900 insurance brokers that collectively employ more than 20,000 workers.
REAL ESTATE WATCH: INLAND EMPIRE
Momentum Slowly Builds in Inland Empire Recovery
Momentum slowly builds in Inland Empire recovery. Includes Real Estate Watch industry performance charts.
REAL ESTATE DEALS - July 30, 2012
Sales and leases of offices, industrial buildings, retail space and apartments
Passco Snaps Up Alabama Complex for $27 Million
Irvine Investor Pulls REIT, Remains on Hunt for Apts.
Passco snaps up Alabama complex for $27 million, in Real Estate
Dell Targets $5B in Software Sales on Back of Quest
$2.4B Acquisition to Close Soon Following FTC’s OK
Dell targets $5 billion in software sales on the back of Quest, in Technology
Western Digital Gets Past Thai Floods, Into Hitachi
TECHNOLOGY: Financial results strong; execs named
Western Digital gets past Thai floods, into Hitachi
Lake Forest Encourages Consumers to Shop Locally
2nd Annual Event Drives Traffic With Promo Offers
Lake Forest in campaign to encourage consumers to shop locally, in Media and Marketing
Allergan, Medicis Among Potential Obagi Bidders
Irvine Drug Maker Has Better Cash Position
Allergan, Medicis among potential Obagi bidders, in Healthcare
Brokers Post 13% Revenue Rise, 18% Surge in Jobs
Second Year of Sales Growth After Consecutive Downticks
ABOUT THE LIST - Business better last year for Orange County’s largest insurance brokers. Includes the 2012 OC's LARGEST INSURANCE BROKERS list for download (pdf)
Employers Fret Over Rising Workers’ Comp Costs
Brokers say higher rates needed as insurers see high loss ratio
SPECIAL REPORT: INSURANCE AND EMPLOYEE BENEFITS - Employers fret over rising workers’ comp costs
Newport Beach Gives OK to Banning Ranch
Newport Beach gives OK to Banning Ranch
TPG’s Latest Billabong Bid Reduces Value to $714M
TPG’s latest Billabong bid down to $714 million
Fast-Growing Private Companies Wanted for Business Journal’s Annual List
CALL FOR ENTRIES - Fast-growing private companies wanted for our annual list
Anaheim Delays Vote on Measures for Bed-Tax Breaks
Anaheim delays review of plan to require vote on hotel bed-tax breaks
Bixby Lands 291,700-SF South Bay Tower in Torrance
REAL ESTATE: $52M deal company’s biggest in five years
Bixby lands 291,700-square-foot South Bay tower in Torrance
Fisker Cofounder Sheds COO Duties
Anaheim-based Fisker Automotive Inc. cofounder Barny Koehler has given up his title as chief operating officer and taken on the role of chief business development officer.
Northgate Gonzalez Buys Recently Built HQ
REAL ESTATE: Grocery chain pays $45M for 384,000-SF site
Northgate Gonzalez buys recently built headquarters
CashCall Takes 125,200 SF in Orange Office
REAL ESTATE: Gets signage; lender will keep HQ in Anaheim
CashCall Inc. takes 125,200 square feet in Orange office
Connecting the Dots on Bed-Tax Breaks; Canada Calls on OC
OC INSIDER Column by Jerry Sullivan
Which Way, Wet Seal?
RETAIL: Talk turns from hope of turnaround to call for sale
Which way, Wet Seal? Talk turns from hope of turnaround to call for sale
Irvine Company Buys Into Pasadena
REAL ESTATE: Sources put deal at $145M for office near Old Town
Irvine Company buys a five-story office in downtown Pasadena
Jones Lang LaSalle Nabs Irvine Boutique
REAL ESTATE: Operations to combine in new office here
The operations of 360 Commercial Partners are being folded into the local office of Jones Lang LaSalle
County Picks Master Developer for Land Near Great Park
REAL ESTATE: L.A.-based Lowe gets nod; Wild Rivers looks set
County picks master developer for land near Great Park
Treasure in Trash
Newport Beach Firm Takes on Notorious Dump
FirmGreen in Newport Beach takes on the world’s most notorious dump
Evolve or Die
Healthcare Reforms Squeeze, Brokers Morph Into Advisers
SPECIAL REPORT: INSURANCE AND EMPLOYEE BENEFITS - Healthcare reforms squeeze, brokers morph into advisers
ADDENDUM - July 30, 2012
Other news items of interest from the Orange County Business Journal
Opportunity Knocks Again for Couple in Ocean View
Pays $5.2M for 3-Bedroom Home in Corona del Mar
Londoners purchase home that they had missed out on buying a few years ago, in Luxury Homes
Friday, July 27
Midday Stock Roundup
The Nasdaq was up 1.53% to 2,937.60 in midday trading, while the Dow Jones Industrial Average rose 0.97% to 13,013.11.
QLogic Shares Fall on Downgrades
Shares of QLogic Corp. plummeted after Aliso Viejo-based networking-equipment maker was downgraded by two investment banks.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
St. Jude’s $285M Tower Ahead of Schedule
A $285 million patient tower in the works at St. Jude Medical Center in Fullerton is slightly ahead of schedule for its opening in the fourth quarter of 2014.
Thursday, July 26
TPG Moves Forward with Due Diligence on Billabong
The board of Australia-based action sports apparel company Billabong International Ltd. said it would facilitate due diligence by prospective buyer TPG International LLC.
Ingram Beats Expectations in Q2
Santa Ana-based Ingram Micro Inc. reported second quarter results that beat Wall Street expectations.
Quality Systems Shares Plunge on Consolidation Trend
Shares of Quality Systems Inc. plunged during morning market hours after the company reported weaker-than-expected quarterly results and declined to affirm or revise its full-year guidance.
Midday Stock Roundup
The Nasdaq rose 1.23% to 2,889.23 in midday trading, while the Dow Jones Industrial Average was up 1.61% to 12,880.47.
SEC Clears STEC, Moshayedi Brother
The Securities and Exchange Commission has cleared STEC Inc. and its cofounder and director Mehrdad “Mark” Moshayedi of any wrongdoing related to an insider trading investigation.
Edwards’ Outlook Lifts Shares
Edwards Lifesciences Corp. posted better-than-expected profit for the second-quarter and raised its guidance for the full year.
Western Digital Shares Up on Q2 Results
Irvine-based Western Digital Corp. reported growth in revenue and profit for its June quarter, beating Wall Street expectations on both.
Kaiser Aluminum Shares Rise on Strong Quarter
Foothill Ranch-based specialty aluminum products maker Kaiser Aluminum Corp. reported better-than-expected results for the second quarter.
Lowe Enterprises Tapped for 100-Acre El Toro Development
The County of Orange has selected Lowe Enterprises to help turn a 100-acre parcel of largely vacant land at the former El Toro Marine Corps Air Station in Irvine into a mixed-use project.
Freedom Sale Closes; Kushner New CEO
The sale of Irvine-based Freedom Communications Holdings Inc., owner of the Orange County Register, is final.
CommerceWest Earnings Rise
Irvine-based CommerceWest Bank reported net income of $1 million for the second quarter, nearly tripling its profit from a year earlier.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Wednesday, July 25
Midday Stock Roundup
The Nasdaq was up 0.07% to 2,864.97 in midday trading, while the Dow Jones Industrial Average rose 0.81% to 12,719.91.
CoreLogic Shares Jump on Strong Q2 Report
Shares of Santa Ana-based CoreLogic Inc. rose to their highest-ever levels on Tuesday, following the data analytic company’s posting of better-than-expected second quarter earnings.
Broadcom Beats Revenue, Profit Targets in Q2
Irvine-based chipmaker Broadcom Corp. on Tuesday reported revenue and adjusted profits in the second quarter that beat Wall Street estimates.
First Walmart Neighborhood Market in CA to Open in Huntington Beach
Bentonville, Ark.-based Wal-Mart Stores Inc. is set to open its first Walmart Neighborhood Market grocery store in California in Huntington Beach on Friday.
Commerce National’s Earnings Up
Newport Beach-based Commerce National Bank reported $374,000 in profit in the second quarter, nearly quadrupling its earnings from the same period a year ago.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Tuesday, July 24
Midday Stock Roundup
The Nasdaq was down 0.97% to 2,862.21 in midday trading, while the Dow Jones Industrial Average was off 1.25% to 12,562.03.
TPG’s Lastest Bid: $713.7M for Billabong
The parent of Irvine-based Billabong USA has received a third offer from private equity firm TPG Capital Partners LP.
Major Shareholder Calls for Sale of Wet Seal
A major shareholder of Foothill Ranch-based Wet Seal Inc. called for the retailer’s sale in a letter sent to its board of directors today.
Anaheim City Council to Consider Hotel Bed Tax Ballot Measure
The Anaheim City Council is expected to vote tonight on a plan that would send future waivers or other exemptions to the city’s hotel bed tax up for voter approval as a ballot measure.
Ceradyne Shares Dip on Q2 Report
Costa Mesa-based Ceradyne Inc. shares dropped 8% in morning trading on news of its second-quarter earnings.
Mindspeed Reports Mixed Results
Newport Beach-based networking chipmaker Mindspeed Technologies Inc. on Monday reported mixed results for the June quarter.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Monday, July 23
Midday Stock Roundup
The Nasdaq was down 1.42% to 2,883.57 in midday trading, while the Dow Jones Industrial Average was off 0.98% at 12,697.28.
Wet Seal Shares Fall on CEO’s Termination
Shares of Foothill Ranch-based teen retailer Wet Seal Inc. plunged nearly 11% in midday trading Monday after its board of directors announced a search for a new chief executive.
Opus Opens First Bay Area Office
Irvine-based Opus Bank opened a banking office in Danville, its first in Northern California.
Anna’s Linens Expands Credit Facility Amid Growth
Costa Mesa-based home-goods discounter Anna’s Linens Inc. expanded its credit facility to $70 million as it continues to open new stores.
Simon Hires Business Development Director for The Outlets at Orange, Ontario Mills
The parent of The Outlets at Orange and other local malls appointed a new area director of business development.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Sunday, July 22
Kaiser to Add 100 Workers at New, Bigger Hospital
HEALTHCARE: Features twice as many beds, 6 floors, parking
Kaiser to add 100 workers at new, bigger hospital
Pacific Premier Chairman Retires After 15 Years in Post
Pacific Premier chairman retires after 15 years in post
Yokohama Tire Shows ‘Home Team Pride’ in Angels
Fullerton Company Gives Jerseys Away for 2nd Year
Yokohama Tire Corp. shows “home team pride” in Angels, in Media and Marketing.
Form and Function
Trend Toward Less Space Prompts More Flexible Designs
SPECIAL REPORT: INTERIOR DESIGN AND CONSTRUCTION: Trend toward less space prompts more flexible designs
Manley Rocks Boat; Nicholas Visits Guv; Blum’s New Venture
OC INSIDER Column by Jerry Sullivan
REAL ESTATE DEALS - July 23, 2012
Sales and leases of offices, industrial buildings, retail space and apartments
Dubai Park Points to Possible 3rd Gate at Disneyland Resort
TOURISM: Can use Marvel characters here but not in Orlando
Dubai park points to Marvel-ous plans at Disneyland Resort.
Guitar Makers Rock On Long After Fender Exit
Guitar makers rock on long after Fender exit
Vizio Taps Industry Leaders to Train Call Center Staff
Electronics Company Has Facilities in S.D., Utah
Vizio Inc. taps industry leaders to train call center staff, in Technology
Vivendi Seeks Buyer for Blizzard Parent
Vivendi SA seeks buyer for Blizzard parent
Solar-Panel Maker Shuts Nevada Plant
MANUFACTURING: Move follows Seal Beach cutbacks
Solar-panel maker Amonix Inc. shuts Nevada plant
Vons, Pavilions Raise $1.4M for Easter Seals Locally
Customers Donated to Charity at Checkouts
PHILANTHROPY Column by Sherri Cruz
CALENDAR - July 23-Aug. 1, 2012
A listing of events happening all around Orange County.
ADDENDUM - July 23, 2012
Other news items of interest from the Orange County Business Journal
REAL ESTATE WATCH: Orange County Construction
OC Construction Remains Sparse
Orange County construction remains sparse. Includes Real Estate Watch industry performance charts.
By the Numbers - NEWPORT BEACH BUSINESSES
There are roughly 4,300 businesses in Newport Beach that collectively employ more than 53,500 people.
Wells to Close Costa Mesa Loan Site in Wholesale Exit
Wells to close Costa Mesa loan site in wholesale exit
Report: Bausch Bought Ista to Improve IPO Prospects
Maker of Eye-Care Products Closed on Deal in June
Bausch reportedly will wait until after fully integrating Ista before again considering an IPO, in Healthcare.
Report: Mimi’s Café Parent Intends to Sell Off Chain
Report: Mimi’s Café parent intends to sell off chain
Metagenics Inks Pact for 47,000 SF in Aliso Viejo
Deal by Vitamins Maker Among Biggest Q2 Leases
Metagenics Inc. inks pact for 47,000 square feet in Aliso Viejo, in Real Estate
Tenant Improvement Work Dips on Smaller Field
20 largest see $440M in business as construction remains sluggish
ABOUT THE LIST: Lack of new commercial real estate construction in OC puts damper on area’s volume of tenant improvement work. Includes the 2012 OC's LARGEST TENANT IMPROVEMENT CONTRACTORS list for download (pdf)
Fast-Growing Private Companies Wanted for Business Journal’s Annual List
CALL FOR ENTRIES: Fast-growing private companies wanted for our annual list
Newport Newcomer Sells $100 Tablet Directly
TECHNOLOGY: Enters fray filled with higher-priced rivals
Little-known Newport Beach company introduces cheap tablet in an effort to find profitable niche
Pac Dental Brushes Up Site After $13.6M Buy
REAL ESTATE: Practice manager to triple HQ space in Irvine
Pac Dental brushes up site after $13.6 million buy
Ex-Mexico President Taps Aliso Viejo Company for IT
TECHNOLOGY: UST Global also to establish regional HQ
IT services provider UST Global signs partnership with former Mexico President Vicente Fox
Textile Manufacturers Press for Turnaround
APPAREL: Prima-Tex, others aim to get offshore business back
Textile manufacturers press for turnaround.
Lake Forest Office Deals Combine for $81M
REAL ESTATE: $59M buy of Pacific Vista is year’s priciest
Lake Forest office deals combine for $81 million
‘Renaissance Kid’
Pint-Sized Inventor, Giant Imagination for New Products
INNOVATION: “Renaissance kid” is a pint-sized inventor with a giant imagination for new products.
Friday, July 20
Midday Stock Roundup
The Nasdaq was down 1.11% to 2,932.99, while the Dow Jones Industrial Average was down 0.91% to 12,825.11 in midday trading.
CoreLogic Expects to Cut $200M in Overhead With Dell Package
CoreLogic Inc. has announced a wide-ranging technology deal with Round Rock, Texas-based Dell Inc. that’s expected to save the Santa Ana-based data analytics company close to $200 million over the life of the seven-year contract.
STEC Chief Executive Charged with Insider Trading
The Securities and Exchange Commission has charged STEC Inc. Chairman and Chief Executive Manouchehr Moshayedi with insider trading, which carries a potential lifetime ban from serving as an officer or director of any publicly traded company.
Acacia Beats Revenue, Profit Targets
Newport Beach-based Acacia Research Corp. on Thursday reported revenue and adjusted profits in the second quarter that beat Wall Street expectations.
Vans Posts Strong Q2 Sales
Cypress-based Vans Inc. logged strong global sales gains during the June quarter, results that came just weeks after its parent company announced a five-year plan to add $1 billion in revenue for the maker of skateboarding-inspired clothes, shoes and accessories.
OC Adds 8,700 Jobs in June
Orange County added 8,700 jobs in June, notching a fifth-straight month of gains.
'Carmageddon' Set for September Sequel
“Carmageddon 2”—the nickname for the coming closure of the San Diego (405) Freeway through the Sepulveda Pass—is now set for the last weekend of September, local transportation officials announced Thursday.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Thursday, July 19
Midday Stock Roundup
The Nasdaq was up 0.94% to 2,970.33, while the Dow Jones Industrial Average was up 0.22% to 12,937.23 in midday trading.
Pacific Premier Tops $1B Mark on Assets
Costa Mesa-based Pacific Premier Bancorp Inc. reported increased assets and profitability during the second quarter.
Taco Bell U.S. Sales Surge
Same-store sales at Irvine-based Taco Bell Corp. increased 13% for the quarter ended June 16.
Pyott Named Next Chair of California Healthcare
David Pyott, chief executive of Irvine-based drug maker Allergan Inc., has been named chairman-elect of the California Healthcare Institute’s board of directors.
Car Dealership Adds 3,500 SF
Renick Subaru has added 3,500 square feet to the dealership in Fullerton, taking it to about 212,000 square feet.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Quality Shares Steady
Shares of Irvine-based healthcare software maker Quality Systems Inc. are holding steady a day after they dropped 9% to a market value of about $1.42 billion on the loss of a significant contract to a competitor.
Riordan, Lewis in $473M Sale of Portfolio Company
Los Angeles-based private equity firm Riordan, Lewis & Haden notched a $473 million deal to sell a healthcare consulting company, an investment that had been headed by its Irvine office for the past five years.
Liquidmetal Raises $12M, Extends Apple Contract
Rancho Santa Margarita-based Liquidmetal Technologies Inc. has raised $12 million in a private placement.
Wednesday, July 18
Midday Stock Roundup
The Nasdaq was up 0.91% to 2,936.66, while the Dow Jones Industrial Average was up 0.52% to 12,871.92 in midday trading today.
Vivendi Pursues Sale of Blizzard Parent
Paris-based media and telecommunications conglomerate Vivendi SA has hired two investment banks to explore a sale of its majority stake in Santa Monica video game publisher Activision Blizzard Inc., which includes Blizzard Entertainment Inc. in Irvine.
Mitsubishi Outlander Now Outfitted With ‘Made in USA’ Label
Cypress-based Mitsubishi Motors North America Inc.’s Outlander Sport crossover utility vehicle is now being made in the U.S.
U.S. News and World Report Recognizes Hospitals
UCI Medical Center in Orange and Newport Beach’s Hoag Memorial Hospital Presbyterian made a list of best hospitals published by U.S. News and World Report.
OC Council of Governments Backs Local Control for Ontario Airport
Several Orange County cities and agencies have signed on in support of the city of Ontario’s proposal to take control of Ontario International Airport.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Tuesday, July 17
Midday Stock Roundup
The Nasdaq was down 0.42% to 2,884.85, while the Dow Jones Industrial Average was down 0.29% to 12,690.09 in midday trading today.
Report: Mimi’s Café On Sales Block
The parent of Irvine-based Mimi’s Café has begun the process of selling off the chain, according to a report from trade publication dealReporter.
Craft Retailer Takes Former Albertson’s Space in HB
Oklahoma City-based Hobby Lobby Stores Inc. recently signed a lease for 65,000 square feet of former Albertson’s space in Huntington Beach.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Monday, July 16
Aliso Viejo Firm to Work on Fox Library in Mexico
Aliso Viejo-based information technology services provider UST Global Inc. plans to partner with former President of Mexico Vicente Fox to build and service a presidential library and economic development center in his home state Guanajuato.
Skipper to Step Down as Pacific Premier Chair
Ronald Skipper has announced plans to retire as chairman of the board of directors of Costa Mesa-based Pacific Premier Bancorp Inc. at the end of July.
ICU Medical Beats on Q2 Earnings, Misses on Revenue
San Clemente-based ICU Medical Inc. today reported mixed second-quarter results and issued in-line financial guidance.
Midday Stock Roundup
The Nasdaq was down 0.03% to 2,907.57, while the Dow Jones Industrial Average dropped 0.25% to 12,745.53 in midday trading today.
South Coast, Irvine Spectrum Nordstroms to Carry London Label
Nordstrom stores at South Coast Plaza and the Irvine Spectrum Center are among 12 other locations nationwide set to see Topshop departments as part of a new partnership between the two retail chains.
Darden Expects to Keep Yard House HQ in Irvine
The buyer of Irvine-based Yard House USA Inc. said it expects to keep the chain’s headquarters in Irvine, and plans to grow it from 150 to 200 restaurants nationally.
OC Office Among Cuts to Wells Fargo Wholesale Mortgage Business
Wells Fargo & Co. plans to close its wholesale lending office in Costa Mesa as part of the bank’s companywide withdrawal from the wholesale business.
Resources Global Professionals Income Up for Quarter, Year
Resources Connection Inc. in Irvine saw net income of $8.9 million for its May quarter, a 65% jump from the year-ago period.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Saturday, July 14
By the Numbers - ACCOUNTING FIRMS IN ORANGE COUNTY
There are more than 1,200 accounting firms in Orange County.
Accounting Firms Post 4.7% Increase in Local Jobs
Uptick follows three years of declines in OC employment
ABOUT THE LIST: Accounting firms post almost 5% increase in jobs.
Consultants Post First Uptick in Hires Since 2008
Firms’ OC operations size up, as clients’ fortunes stabilize
ABOUT THE LIST: Management consultants boost hires. Includes the 2012 OC's LARGEST MANAGEMENT CONSULTING FIRMS list for download (pdf)
Hanoi Hilton to Pacific Club
EVENTS - Scenes from business, social, charity and other events
Lee Ellis shares lessons learned at the Hanoi Hilton in Vietnam
CALENDAR - July 16-25, 2012
A listing of events happening all around Orange County.
FDA Gives Go-Ahead for Trial of Edwards’ Intuity
Heart Valve Replacement Allows Faster Procedures
Heart valve maker Edwards Lifesciences Corp. will start another domestic clinical trial in the months ahead, in Healthcare
Irvine Agency Promotes Chef-Created Taco Bell Items
Touts Cantina Bell Menu Via Print, Social Media
Irvine agency promotes chef-created Taco Bell items, in Media and Marketing
Analysts Offer Mixed Reactions to BrightPoint Buy
One Downgrades Ingram Shares, Others Unfazed
Analysts offer mixed reactions to BrightPoint buy, in Technology
KB Home to Build 174 Homes Along Portola Parkway
Communities Called Sage, Garden Hill to Come Soon
KB Home to build 174 homes along Portola Parkway, in Real Estate
REAL ESTATE WATCH: THE MID-COUNTIES MARKET
Mid-Counties Industrial Market Springs Back
Mid-Counties industrial market showed renewed signs of life in the first quarter. Includes Real Estate Watch industry performance charts.
REAL ESTATE DEALS - July 16, 2012
Sales and leases of offices, industrial buildings, retail space and apartments
By the Numbers - MANAGEMENT CONSULTING FIRMS IN ORANGE COUNTY
There are more than 900 management consulting firms in OC.
Fast-Growing Private Companies Wanted for Business Journal’s Annual List
CALL FOR ENTRIES: Fast-growing private companies wanted for our annual list
ADDENDUM - July 16, 2012
Other news items of interest from the Orange County Business Journal
Buyer’s Castaways Home + Cash = Bayshores Spec
Five-Bedroom Goes for Equivalent of $4.5M
Buyer’s Castaways home + cash = Bayshores spec, in Luxury Homes
Back Bay Bites: Seafood, Steak, Kobe Beef Sliders
Newport Dunes to Host Charitable Fundraiser
Back Bay bites: seafood, steak, Kobe beef sliders, in Executive Dining
Opus to Acquire 10 PacWest Offices
FINANCE: Irvine-based Opus Bank agrees to acquire 10 banking offices in SoCal from PacWest Bancorp
Hamanaka Adds Web Duties for OCBJ
Hamanaka named Web editor of Business Journal, will oversee daily website coverage and eNews updates
Irvine Could Reap $200M If FivePoint Doubles Park Plan
Irvine could reap to $200 million if FivePoint Communities doubles park plan
Sonendo Eyes Clinical Trials, Starts Hiring for Device
HEALTHCARE: Targets market for root canal with sound waves
Sonendo eyes clinical trials, starts hiring for dental device.
Mindspeed Offering Shores Up Co. Cash
TECHNOLOGY: Moves could include debt reduction
Networking chipmaker Mindspeed Technologies Inc. has tagged its $32M debt offering for general corporate purposes
Irvine Swim Label Goes for More at Miami Show
APPAREL: L*Space aims a bit older, expands into apparel
Irvine swim label goes for more at Miami show
LA Fitness Founders Add Retail to Portfolio
REAL ESTATE: Big-box store separate from growth plan
LA Fitness founders add retail to portfolio
Jabara Checks Count on Padres; Hollywood Checks in on OC
OC INSIDER Column by Jerry Sullivan
Performance Center Makes Beautiful Music for Soka
EDUCATION: University had low-key approach in first decade
Performance center makes beautiful music for Soka University of America
Action-Sports Brand for Surf City Hotel?
REAL ESTATE: Project’s new owner says Quiksilver in mix
Owner of Pacific City project eyeing potential for action-sports brand hotel that would reflect HB’s “Surf City” heritage
RSI Development Sets New Course as Contract Builder
REAL ESTATE: Manufacturer sees new opportunity on rentals
RSI Development sets new course as contract builder
The Port Wants to Be the Place
Fariborz Maseeh, a pioneer in micro-electromechanical systems, is also a neighborhood guy who’s adding another title to his resume: theater impresario.
Back on Track
Local firms pitch personal touch, add services to fuel growth
Back on track: local firms pitch personal touch, add services to fuel growth
Balance This!
Women Tech Execs Talk Finance, Risk, Rewards
Women tech execs talk finance, risk, rewards
Thursday, July 12
Imagine Surf Hires “Paddle Board Pioneer”
San Clemente-based paddle board maker Imagine Surf has tapped the famed “stand-up paddle board pioneer” Dave Kalama as vice president of design and innovation.
Yard House Sold to Darden Restaurants
Irvine-based Yard House USA Inc. has been sold to a Florida owner of several restaurant chains in a $585 million all-cash deal.
Sullen Clothing Expands Into Music Business
Los Alamitos-based Sullen Clothing Inc. has launched its own record label.
New GM for Outlets at Orange
The Outlets at Orange has named Kristin Elfring as general manager of the retail center.
L.A.-Based Private Bank Expands Into Orange County
Private Bank of California, a small lender headquartered in Century City, announced the opening of its first branch in Orange County.
Anaheim Names New Finance Director
Debbie Moreno has been named Anaheim’s finance director and will oversee the city’s $1.5 billion budget.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Wednesday, July 11
Fluidmaster in Deal With Mexico Construction Company
San Juan Capistrano-based toilet tank valve maker Fluidmaster Inc. has partnered with Mexico’s construction company Grupo Lamosa to provide parts for a line of high-end toilets under the Vortens brand, which is sold throughout in the U.S.
Johnny Rockets Appoints President of New International Division
Aliso Viejo-based Johnny Rockets Restaurant Group Inc. launched an international division and promoted a member of its executive team to lead the new group.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Tuesday, July 10
Mazda CMO Resigns
Irvine-based Mazda North American Operations Chief Marketing Officer Don Romano has resigned.
Allergan Stock Down, Botox Share on Migraines Up
Irvine-based drug maker Allergan Inc. today saw its shares fall slightly after an analyst cut his 2013 profit forecast.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Monday, July 9
Questcor Rises on Drug Sales Data
Anaheim-based Questcor Pharmaceuticals Inc.’s shares rose today on news of increased sales of its sole drug.
Opus Gets 10 Banking Offices From PacWest
Irvine-based Opus Bank has agreed to acquire 10 banking offices in Southern California from Los Angeles-based PacWest Bancorp, a buy that would bring a total of about $145 million in deposits to Opus.
PacSun Shares Surge After Executive Stock Purchase
Shares of Anaheim-based Pacific Sunwear of California Inc. were up nearly 8% during Monday midday trading.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Saturday, July 7
Yamaha Gives Friends Role in Sport Bike Campaign
Costa Mesa Shop Crafts TV, Print, Online, Social Media
Yamaha’s campaign by Marshall Advertising uses TV, print, online and social media to promote 2012 R1 sport bike, in Media and Marketing.
Surf City Apartment Sale Looks Like Priciest of Year
Kennedy Wilson Gets Via Verde for $67.5M
Real estate investor Kennedy Wilson snaps up a 277-unit apartment complex in Huntington Beach, in Real Estate
Allergan’s Partner on Migraine Drug Set to Try Again
MAP Expects to Send New Data to FDA Within Months
Allergan’s partner on migraine drug plans to try again for FDA approval, in Healthcare
Dell’s $2.4B Quest Buy Leads $3.6B Trio of OC Deals
Ingram Gets BrightPoint, While Sony Nabs Gaikai
Dell’s $2.4B Quest buy tops $3.6 billion trio of Orange County deals, in Technology
Wet Seal to Get Reserves Study
Mall retailer Wet Seal Inc. plans to hire an investment banking firm to analyze the company’s cash reserves
Vinny Poised for Billionaires’ Club; UCI Rolls Uphill
OC INSIDER Column by Jerry Sullivan
Lyon Homes Back as Buyer in $21.5M Deal
REAL ESTATE: 1,000 lots spread over I.E., S.D., Arizona, Nevada
Newport Beach-based William Lyon Homes Inc. buys 165 acres in California, Arizona and Nevada.
Glaukos Ready to Take Flagship Device to Market
HEALTHCARE: One more round of financing expected for launch
Laguna Hills-based eye device maker Glaukos Corp. is ready to rev up marketing for its microscopic glaucoma treatment
Accounting for Growth
CPAs Give Women-Owned Businesses Division of Their Own
CPAs see client boost from women-owned businesses
Yogurt Chain Grows HQ With Move to Irvine
RESTAURANTS: Plans to add 70 locations to 200-store chain
Yogurtland Franchising Inc. expands new headquarters in Irvine as it eyes a major growth push over the next five years
CALENDAR - July 10-18, 2012
A listing of events happening all around Orange County.
Pacific Symphony Raises $1.3M With Parisian Gala
Cabaret Acts, Charity Auction Draw 350; John Tu Gives $100K
PHILANTHROPY Column by Sherri Cruz
Fast-Growing Private Companies Wanted for Business Journal List
Fast-growing private companies wanted for our annual list
Ghost Story
OC Woman Counts 117 “Invisible” Book Credits
Suzanne is well-known in the publishing industry and claims 117 ghostwriting credits.
Digitas Wins Digital Work from Taco Bell
Irvine-based Taco Bell Corp. hires the San Francisco office of Digitas as its interactive agency
By the Numbers - WOMEN-OWNED BUSINESSES
There are more than 17,000 women-owned businesses in Orange County.
Monié Makes Good on Mobility Talk
TECHNOLOGY: $840M deal for BrightPoint company’s biggest
Ingram Micro’s Alain Monié makes good on mobility talk
Other Interested Parties
Low Rates Hit Banks, Ripple Through Construction, Wealth Management
Near-zero interest rates aren’t hurdles for just insurance companies
REAL ESTATE DEALS - July 9, 2012
Sales and leases of offices, industrial buildings, retail space and apartments
Kula Adapts Sushi Bars to U.S., Plans Dozens More
RESTAURANTS: Success in Irvine changed prior sour taste
Irvine-based operator of sushi bars hopes to open 25 new restaurants over the next five years
ADDENDUM - July 9, 2012
Other news items of interest from the Orange County Business Journal
REAL ESTATE WATCH: WEST ORANGE COUNTY
West OC’s Industrial Lease Rate Unchanged in Q1
West Orange County’s industrial real estate market was a lease-rates laggard in the first quarter
Back on Top
Pac Life Counters Low Interest Rates With Diversification
Back on top: Pac Life counters low interest rates with diversification
Women-Owned Businesses Post 4% Sales Increase
Local employment rises by 5%; In-N-Out tops revenue rankings
ABOUT THE LIST: Thirty largest women-owned businesses in Orange County collectively see increase in revenue, number of employees. Includes the 2012 OC's LARGEST WOMEN-OWNED BUSINESSES list for download (pdf)
Irvine Company Adds San Diego Office to Fold
REAL ESTATE: 205,000-SF buy follows deal in Silicon Valley
Irvine Company buys 13-story office building in San Diego County’s Mission Valley, pays off nearly $86M in debt on a La Jolla property
Kiani Wants Break on Device Tax for Smaller Companies
HEALTHCARE: Masimo chief sees threat to innovation in levy
Masimo Corp. chief executive Joe Kiani wants a break on device tax for smaller companies
CoreLogic Forecast Signals Housing Turn
REAL ESTATE: Stock has been hot amid improving conditions
CoreLogic Inc. forecast signals housing turn
Marketing Mavens Work Virtually, Stress No Stress
Iacunato-McLane is comprised of 10 women who “laugh a lot”
Iacunato-McLane is comprised of 10 women who “laugh a lot”
Friday, July 6
Kaiser Anaheim Opening Doors in September
Kaiser Permanente will open its new $461 million hospital on La Palma Avenue in Anaheim on Sept. 12.
American Vanguard Opens Office in Netherlands
Newport Beach-based American Vanguard Corp. has launched a new Netherlands unit as part of a restructuring of its subsidiary Amvac Chemical Corp. and in preparation for Alfredo Pelaez’s retirement as Amvac’s director of international sales.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Thursday, July 5
Emulex to Pay $58M in Partial Settlement With Broadcom
Costa Mesa-based Emulex Corp. will pay Broadcom Corp. $58 million in release and licensing fees related to a long-running patent dispute regarding fibre channel and Ethernet technology.
Tustin Hyundai Dealership Expands
Tustin Hyundai has relocated and doubled its size within the Tustin Auto Mall as it continues to see sales of the brand grow.
Fisker, DiCaprio Join on Environmental Campaign
Anaheim-based Fisker Automotive Inc. has partnered with Leonardo DiCaprio to promote global environmental sustainability.
Wet Seal Announces Capital Review, June Sales Decline
Foothill Ranch-based mall retailer Wet Seal Inc. plans to hire an investment banking firm to analyze the company's cash reserves.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Tuesday, July 3
Automakers See June Sales Rise
Orange County-based automakers saw June sales grow even as the national monthly sales total slowed from the year-ago period.
Identive Fills $1.7M Federal Contract
A unit of Santa Ana-based Identive Group Inc. filled a $1.7 million contract to supply the Department of Justice with credential-based access controls in the second quarter.
Taco Bell Digital Work Shifts to Digitas
Irvine-based Taco Bell Corp. hired the San Francisco office of Digitas as its interactive agency, ending an account review that began earlier this year.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Monday, July 2
Silicon Valley Gets Patent Office
Silicon Valley has landed one of the coveted satellite sites of the U.S. Patent and Trade Office, beating out Los Angeles and San Diego among other hopeful regions.
Fisker Names New CFO
Anaheim-based luxury hybrid automaker Fisker Automotive Inc. hired Jim Yost as chief financial officer.
Matix Acquired by Westlife Distribution
Westminster-based Matix Clothing has been acquired by Westlife Distribution Inc. of Los Angeles.
Ingram to Buy Indianapolis-Based Distributor for $840M
Santa Ana-based Ingram Micro Inc. has agreed to buy wholesale distributor Brightpoint Inc. for $840 million in a cash deal.
Fast-Growing Private Companies Wanted for Annual List
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2010 to mid-2012 for our sixth annual list of fastest-growing privately held companies.
Sony Computer Entertainment in $380M Deal for Gaikai
Aliso Viejo-based Gaikai Inc. is set to be acquired by Sony Computer Entertainment Inc. for $380 million.
First PacTrust Completes Deal for Beach Business Bank
First PacTrust Bancorp Inc. in Irvine completed its merger with Manhattan Beach-based Beach Business Bank, a $39 million buy that has boosted the combined bank’s assets to about $1.3 billion.
Dell in $2.4B Deal for Quest
Dell Inc. has won the bidding for Quest Software Inc. with a cash offer of about $2.4 billion, the two companies announced today.