Stories for May 2012
Thursday, May 31
Irvine-based drug maker Allergan Inc. today had its short-term credit ratings raised by Standard & Poor’s Inc.
Action-sports retailer Tilly’s Inc. reported a 21% increase in fiscal first-quarter profit to $5.9 million.
Foothill Ranch-based Wet Seal Inc. reported another disappointing month for same-store sales.
Wednesday, May 30
Irvine-based Red.com Inc.’s Red Digital Cinema Camera Co. has added another Hollywood credit to its resume thanks to a film being shot at its studio there.
Costa Mesa-based Morgan Drexen is making efforts to hire more veterans.
Tuesday, May 29
Anaheim-based Fisker Automotive Inc. has sold more than 1,000 units of its hybrid sedan this year for more than $100 million in revenue through April 30.
Saturday, May 26
Sales and leases of offices, industrial buildings, retail space and apartments
Klauses Aim to Clone Epicor Success With KeyedIn
Klauses aim to clone Epicor success with KeyedIn
Timely response key in handling criticism, queries, compliments
Hotels track Web comments to monitor public image
There are about 440 hotels and motels in Orange County.
HEALTHCARE: Incentives in federal reforms fuel spread
Doctor groups adopting electronic records at faster pace locally than they are statewide
REAL ESTATE: $41M deal part of recent buying push
Costa Mesa shopping-center owner Donahue Schriber expands to Washington state
LAW: Firm grows presence here with 40-plus offices worldwide
K&L Gates taps three as new partners in Irvine
OC INSIDER Column by Jerry Sullivan
MANUFACTURING: Move follows cuts at Nevada plant
Solar panels manufacturer Amonix Inc. will lay off 76 employees in Seal Beach
REAL ESTATE: Pacific Edge could fetch top dollar
Boutique hotels on coast up for sale
REAL ESTATE: Seeks $11.2M for 32,000 SF on Von Karman
William Lyon Homes puts Newport Beach HQ up for sale, looks to relocate to a smaller location
HEALTHCARE: New firm aims for portfolio of cash-pay businesses
‘Lifestyle’ healthcare strategy: opt-out as way in
Slow Recovery in Retail Sector
Improving retail sales helps OC shopping centers stay on recovery track in Q1
Apts. Project Mulled With Behringer on Sales Block
Behringer Harvard is approaching deadline for multifamily development in Costa Mesa, in Real Estate
Strategies Emphasize Social Media Contact
Santa Ana firm helps out-of-state colleges recruit, in Media and Marketing
Equipment Maker Helps Parent Mark Income Gains
Beckman Coulter Inc. continues to pay off for parent Danaher Corp., in Healthcare
Cars Land attractions expected to boost business in wide area
Business looks good for Orange County’s hotel industry. Includes the 2012 OC's LARGEST HOTELS list for download (pdf)
Bruscha Earlier Pressed for Board, Exec Changes
Lantronix founder Bernhard Bruscha elected chairman of the Irvine-based networking-equipment maker, in Technology
DDi Corp. stockholders approve a pending sale to a St. Louis-based competitor
TECHNOLOGY: China Mobile taps its R&D in base station push
Mindspeed supports carrier upgrades in China
WGBH Exec Producer Feted for Downton Abbey
PHILANTHROPY Column by Sherri Cruz
MEDIA: Record 5.1M copies sell, ring up welcome $306M
Blizzard Entertainment’s Diablo III sells like the devil in its first week
FINANCE: Shareholder limits eased in compliance guidelines
Orange County community banks well positioned to benefit from the Jumpstart Our Business Startups Act
Irvine-based automaker Mazda North American Operations said 107 workers have volunteered for a buyout-package program offered to employees earlier this year.
Irvine-based women’s clothing maker St. John Knits International Inc. on the sales block
Friday, May 25
Dell Inc. has surfaced as a potential bidder for Quest Software Inc. and is ideep into discussions to buy the Aliso Viejo-based company as soon as this weekend, according to numerous media reports.
Thursday, May 24
The board of Tustin-based Sunwest Bank promoted bank president Chris Walsh to chief executive.
DDi Corp. stockholders have approved a pending sale to a St. Louis-based competitor, the company announced on Thursday.
Wednesday, May 23
Irvine-based Mazda North American Operations said 107 workers have volunteered for a buyout-package program offered to the automaker’s employees earlier this year.
Blizzard Entertainment Inc.’s release of Diablo III has broken the record for the fastest-selling PC game in its first 24 hours on the market.
Tuesday, May 22
Foothill Ranch-based Wet Seal Inc. came in below Wall Street expectations on its July quarter guidance as the teen retailer looks to pull back on store growth this year.
Santa Ana-based mortgage lender Stearns Lending Inc. has named industry veteran Gary Fabian as the company’s chief financial officer.
DVS Shoe Co. Inc., which recently relocated its headquarters to Orange County, filed for Chapter 11 bankruptcy protection last week citing declining revenue related to the lingering effects of the economic downturn and credit crunch.
Western Digital Corp. shares are trading down Tuesday, a day after the Irvine-based company announced it was moving its listing to the Nasdaq Global Select Market from the New York Stock Exchange.
Costa Mesa-based Pacific Mercantile Bancorp Inc. has tapped three outside executives to join the company’s 11-member board of directors, including two from Irvine-based advisory firm Carpenter & Co.
Monday, May 21
The chair of Cypress-based Real Mex Restaurants Inc.’s board of directors has stepped in as interim chief executive while the company searches for a permanent replacement.
Costa Mesa-based Experian Marketing Services has acquired Burlington, Mass.-based Conversen Inc. on undisclosed terms.
Irvine-based high-end women’s clothing maker St. John Knits International Inc. is on the sales block.
Broadcom Corp. cofounder and Chief Technical Officer Henry Samueli has been named chairman of the Irvine-based chipmaker, marking the second time he has held the post in the last three years.
Saturday, May 19
There are more than 14,400 businesses and professional offices in South Orange County.
Scenes from business, social, charity and other events.
Association for Corporate Growth honors eight
Supervisors: state in “rash plan” to grab $48 million from OC
Sales and leases of offices, industrial buildings, retail space and apartments
Promos Tied to Drink Co.’s Gran Prix Sponsorship
Costa Mesa agency drives Monster’s Poland push, in Media and Marketing
Shareholders Move Board Members to Annual Terms
Edwards Lifesciences Corp. has been busy during the past six months, in Healthcare
No. 2 Shows Solid Growth in Newer Network Niches
QLogic outpaces Emulex in Q1 fibre channel sales, in Technology
Oceanfront Home Listed For $10.9 Million in 2010
Laguna lovers buy again in $6.1 million short sale, in Luxury Homes
SPECIAL REPORT: COMMERCIAL REAL ESTATE UPDATE. South Orange County marks retail gains
SPECIAL REPORT: COMMERCIAL REAL ESTATE UPDATE. Q1 industrial activity up 15% from year ago
SPECIAL REPORT: COMMERCIAL REAL ESTATE UPDATE. Office vacancies down in first quarter
Projects offer senior luxury, multigenerational housing
SPECIAL REPORT: COMMERCIAL REAL ESTATE UPDATE. Developers see green in graying OC
SPORTS: Godfather Media says teams eyed in Irvine, elsewhere
OC Flyers’ new owner plans minor league in region
ENTERTAINMENT: New chief seeks key hires; next master plan
Q&A: Hoban faces immediate, future challenges for fairgrounds
ENTERTAINMENT: Past CEO signs on with Simon Foundation
Q&A: Beazley counts ampitheatre turnaround among successes
ENTERTAINMENT: Almost 824,000 place orders for game
Blizzard Entertainment Inc. chalks up robust pre-sales for Diablo III
Year’s Richest Deal Priced at $487,000 Per Apartment
Skyline at MacArthur Place gets a tweak in its ownership structure, in Real Estate
Culver Drive Retail Center Reflects Upscale Melting Pot
Heritage Plaza reflects upscale melting pot
Brokers Market “Trophy Towers” as Best of Best
SPECIAL REPORT: COMMERCIAL REAL ESTATE UPDATE. Today’s market for office sales in Orange County is a far cry from the go-go days of 2006 and 2007
Irvine-based Freedom Communications Inc. has struck a deal to sell a group of six newspapers in Texas and another four in the Midwest
MARKETING: Staffs combine in Irvine HQ, brands continue
Tavik Industries buy gives Incipio action-sports credibility
ENERGY: 30 natural-gas stations between Dallas, Houston
Clean Energy expects this month to complete first corridor of eventual nationwide network of natural-gas stations
A Bay Area renewable-fuels provider has opened its first wholly owned and operated gas station in Fullerton.
SERVICES: 37-year veteran Bouttier named successor
Thomas McKernan retires as chief executive of Automobile Club of Southern California, elected chairman
HEALTHCARE: Move comes with $500M buy of Ista in works
Bausch & Lomb Inc. taps Barr to head local unit
REAL ESTATE: Eyes 79 units on site next to Marriott
New Home in land deal for condos in Newport Center
Automaker’s Finance Arm Works Quietly From OC Perch
The lack of limelight is fine with Hyundai Capital.
HEALTHCARE: Ibis head Simhambhatla named successor
Mazzo sets retirement as head of Abbott Medical
HEALTHCARE: Aeolus’ R&D pact with feds helps draw funds
Mission Viejo-based Aeolus Pharmaceuticals Inc. raises $26.7 million, plans to use money to help cover expenses
Friday, May 18
Orange County added 3,300 jobs in April, when the unemployment rate fell to 7.4% from 8.2% in March and 8.5% a year earlier.
The Orange County Great Park Corporation Board has been awarded a $1 million grant from the U.S. Department of Energy to help stage a clean energy exposition next year at the former El Toro Marine base in Irvine.
Thursday, May 17
Fisker Automotive Inc. has pushed back production of its newly named Atlantic model to 2014, according to leaked internal company documents.
Anaheim-based action sports retailer Pacific Sunwear of California Inc. posted a gain in same-store sales and a narrower-than-expected loss in the April quarter, both signs of progress in a turnaround that’s been three years in the making.
Santa Ana-based Iteris Inc., which makes traffic-management sensors and other gear, was awarded a $1.4 million contract from the city of Oxnard to integrate a smart transportation system.
Quality Systems Inc., an Irvine healthcare technology company, today reported earnings for the three months ended March 31 that missed expectations and revenue that was in line.
Wednesday, May 16
Auxilio Inc., a Mission Viejo-based company that helps hospitals and healthcare providers cut their dependence on paper records, said its revenue grew 40% in the first quarter while its loss widened from a year earlier.
A Bay Area renewable-fuels provider has opened its first wholly-owned and operated gas station in Fullerton.
The Laguna Beach City Council last night voted against the installation of a traffic light at an exit of Emerald Bay, an upscale enclave that’s home to some of Orange County’s top business executives and entrepreneurs.
Mission Viejo-based Aeolus Pharmaceuticals Inc. has raised $26.7 million and plans to use the money to help cover expenses as it works on developing its lead biodefense drug compound.
Costa Mesa-based technical ceramic products company Ceradyne Inc. has received the second of two orders for its enhanced combat helmet, valued at about $3.9 million.
Tuesday, May 15
The publisher of a Japanese newspaper is under contract to buy the most expensive house built in Orange County during the last housing boom.
Orange-based hospital operator St. Joseph Health System is now known as St. Joseph Health.
Monday, May 14
Thomas McKernan has retired as chief executive and been elected chairman of Costa Mesa-based Automobile Club of Southern California.
Sunday, May 13
Orange County has more than 400 personnel firms. Together they employ about 5,300 workers.
High-Rise Lease Rates Still Competitive
High-rise lease rates still competitive. Includes Real Estate Watch industry performance charts.
Purchases Include Austin Apartment Complexes
Buchanan Street is starting to get more active on the acquisition front, in Real Estate
Touch-Start Fisker 4-Door Travels 0-60 in Six Flat
Riding quietly, quickly in Karma’s designer cockpit, in Technology
Interest Rate Could Help; Medicare Boosts Possible
Skilled Healthcare Group reaffirms guidance after mixed Q1, in Healthcare
Pairs Artists, Athletes for “Beyond Reason” Project
Oakley Inc. is going big in its run-up to the Olympic summer games, in Media and Marketing
Recipients Include Lotus, Foster Youth Org
PHILANTHROPY Column by Sherri Cruz
SERVICES: Jumped 7% in ’11; agencies own hiring rose 4%
ABOUT THE LIST - Staffing firms notch second-straight revenue rise. Includes the 2012 OC's LARGEST EMPLOYMENT AGENCIES list for download (pdf)
HEALTHCARE: Full-year outlook exceeds Wall Street’s
Irvine-based Allergan Inc.’s smooth stock cruise had bit of a bump recently.
OC 50: Nine movers and shakers on list since 1993
SPECIAL REPORT: OC 50 - 20 years later
APPAREL: Ownership, timing contrast with 95 Volcom IPO
Tilly’s long road to IPO pays dividends for Shaked
EDUCATION: Famed acoustician on Chapman University’s performing arts center
APPAREL: Irvine exec elevated after Australian parent’s shake-up
Billabong’s Naudé adds South American markets
OC INSIDER Column by Jerry Sullivan
Microsemi’s Peterson Laid Out New Aliso Viejo HQ With Purpose
CORNER OFFICE: It’s Jimmy P.’s world: Microsemi’s Peterson laid out new Aliso Viejo HQ with purpose
OC 50ers Ueberroth, Drake Among Who’s Who of Board Members
COMMUNITY: Tiger Woods Foundation drives college dreams
ECONOMY: Leads San Diego on industry mix, local GDP
Orange County leads San Diego on industry mix, local GDP, wages
Time of Turnover for This Year’s List of Business Leaders
SPECIAL REPORT: OC 50 - Inventory of influence
REAL ESTATE: Paid $65M for site in Silicon Valley last year
William Lyon Homes sells off a 27-acre former mall site in NorCal to real estate investor Rockwood Capital LLC
HEALTHCARE: 6 conventional products on tap for device maker
Edwards Lifesciences Corp. gets into next round of research and development
Friday, May 11
Irvine-based Plaza Bank saw a 32% increase in profit in the first quarter, totaling $293,000.
Thursday, May 10
San Clemente-based Cameron Health Inc., which is being bought by Boston Scientific Corp., said today that its implantable heart defibrillator was proven safe and effective in a 330-person clinical trial.
Costa Mesa-based Experian Information Solutions Inc. saw a 10% lift in revenue for the year through March, for a total of $2.09 billion.
Wednesday, May 9
Irvine-based online game maker Blizzard Entertainment Inc. staved off subscription losses for its flagship World of Warcraft franchise in the first quarter as revenue and operating profits slid for the third straight quarter.
The San Diego developer who owns U-T San Diego is in talks to buy Irvine-based Freedom Communications Inc.’s Orange County Register, according to various media reports in San Diego.
More potential bidders for Quest Software Inc. have surfaced, the Aliso Viejo-based company disclosed on Wednesday.
Irvine-based Allergan Inc. has received a government subpoena in regard to its Lap-Band weight-loss device, the company said in a federal filing.
Tuesday, May 8
Paul Naude, president of Irvine-based Billabong USA’s North America division, has expanded duties as president of the Americas.
Irvine mobile accessories maker Incipio Technologies Inc. has purchased local clothing maker Tavik Industries LLC.
Shares of Clean Energy Fuels Corp. continued to slide Tuesday, a day after the Seal Beach-based company reported mixed first-quarter financial results.
Shares of Irvine-based nursing home operator Sun Healthcare Group Inc. fell sharply today after first-quarter revenue came in below analysts’ expectations.
Monday, May 7
Santa Ana-based mortgage lender Stearns Lending Inc. has tapped industry veteran Brian Hale as chief executive effective May 21.
Irvine-based TC3 Health Inc., a healthcare technology company, has been sold to Emdeon Inc. for an undisclosed price.
Costa Mesa-based Pacific Mercantile Bancorp posted an 18% drop in first-quarter profit from a year earlier to $1.4 million.
Sunday, May 6
Businesses Benefit From Tough Calls in Challenging Times
Small and smart: businesses make tough calls in challenging times
REAL ESTATE: Hedge fund’s choices seen as move on CEO
Highfields puts up three for CoreLogic Inc. board in push for change
REAL ESTATE: Plans to spend $400M+ on land in 12
Standard Pacific Corp. remains interested in buying land once controlled by master developer SunCal Cos.
RESTAURANTS: Customer rewards program set for July
BJ’s Restaurants Inc. has plans for a customer-loyalty program and other marketing initiatives as competition heats up among casual-dining chains
Beach Rentals in Australia, Downplays HB Hotel
Action sports apparel maker Quiksilver Inc. has made a push into commercial real estate
TECHNOLOGY: Cost cuts, new products; raises $9.3M
Lantronix Inc. says it’s getting back to solid footing thanks to a series of restructuring moves initiated in the last six months
Security firm Universal Protection Service acquires San Diego-based Heritage Security Services
Dip traces to elapsed fee waivers; some lenders still saw upticks
ABOUT THE LIST: SBA lending down compared with biggest year ever. Includes the 2012 OC's LARGEST SBA LENDERS list for download (pdf)
There are more than 68,000 small businesses in Orange County. About 63% have one to four workers.
Lower costs spur rise in use; regular updates important
Web video: useful addition to marketing toolbox
Staff expansions bolstered by marketing, recovery
Local small businesses resume robust hiring
L.A. Commercial Market Improves, Especially in Industrial Sector
L.A. commercial market improves, especially in industrial sector. Includes Real Estate Watch industry performance charts.
Chipmaker in Talks About Possible HQ
Broadcom Corp.’s talks on possible Tustin campus cover more than 70 acres, in Real Estate
Jeweler Offers iPhones for $250 in Purchases
Jeweler Joyeria Tous makes three-day run in temporary shop set up at a retail center in Irvine, in Media and Marketing
Sees Little Benefit for Less-Frequent Episodes
Botox study: help on migraines mostly in chronic cases, in Healthcare
Cites Progress on Aussie System Integration Woes
Ingram Micro in nascent turnaround Down Under, in Technology
Drew Few Offers Until After Listing Was Ended
Tides at Crystal Cove home sells for $7.6 million, in Luxury Homes
Balboa Bay Club Venue Poses Dining Opportunity
Newport Beach Wine Festival to offer tastings, seminars, in Executive Dining
TECHNOLOGY: Rocky road after ’08 split from Microsemi
Semicoa comeback bid adds commercial niches to defense
Pacific Premier Bancorp Inc. acquires failed Palm Desert Bank
HEALTHCARE: Results for Q1 expected to show big rebound
Sabra survives, starts to thrive despite cutbacks on Medicare
OC INSIDER Column by Jerry Sullivan
HEALTHCARE: Set to depart NB-based Alliance in June
Paul Viviano named boss of UCSD hospitals
HEALTHCARE: Center starts with 70 employees, 100 more expected
Covidien PLC is striking a nerve in Irvine
FINANCE: Saigon National first in line for higher toll
Tougher TARP for Orange County recipients?
Game Makers, Action Sports Brands Find More Than Meets Eye at Laguna College
Game makers, action sports brands find more than meets eye at Laguna College
Friday, May 4
Shares of QLogic Corp. continued to fall Friday, a day after the Aliso Viejo-based networking-equipment maker posted mixed quarterly earnings and provided an outlook for the current quarter below Wall Street estimates.
The initial public offering of Irvine-based Tilly’s Inc., the largest traditional IPO seen in Orange County in several years, is a hit with Wall Street on its first day of trading.
Shares in Irvine-based Masimo Corp. fell 4% in midday trading today after the medical-device maker posted mixed first-quarter financial results.
Aliso Viejo-based Sunstone Hotel Investors Inc. has agreed to acquire the Wyndham Chicago in an $88.4 million cash and stock deal.
Thursday, May 3
Santa Ana-based Corinthian Colleges Inc. saw its stock price plunge more than 21% today after it reported a drop in earnings for the March quarter.
A pair of Orange County nursing home companies saw their shares fall today in the wake of first-quarter earnings reports.
Foothill Ranch-based teen retailer Wet Seal Inc. lowered its guidance for the April quarter after another month of disappointing same-store sales.
Newport Beach-based specialty chemical maker American Vanguard Corp. saw its stock price dive despite big gains in sales and profits in the first quarter.
Shares of Newport Corp. continued to slide Thursday, a day after the Irvine laser maker cut its sales forecast for 2012.
Wednesday, May 2
Irvine-based Allergan Inc. today reported first-quarter results that were in line with Wall Street projections but saw its shares drop after it provided conservative guidance for the current quarter.
Paul Viviano will step down as chairman and chief executive of Newport Beach-based Alliance HealthCare Services Inc. to lead the University of California, San Diego, Health System.
The pace of sales growth among automakers here and nationally slowed last month on fewer selling days and cooler temperatures.
Universal Protection Service in Santa Ana has acquired San Diego-based Heritage Security Services, which was recently selected to provide private armed security guards for John Wayne Airport.
Tuesday, May 1
Irvine-based chipmaker Broadcom Corp. on Tuesday reported first quarter revenue in line with estimates and an adjusted profit that beat Wall Street expectations.
Two Orange County executives are in a deal to buy International Bay Club Inc., the parent of the Balboa Bay Club & Resort and the Newport Beach Country Club.
Irvine-based Standard Pacific Corp. swung back to profit in the first quarter, beating analysts’ expectations.