Stories for April 2017

Friday, April 28

Midday Stock Roundup

The S&P 500 fell 0.2% in midday trading to 2,384.41.

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UCI Steps Up Research With New Nursing School

EDUCATION: Focus on personalized, population health

The University of California-Irvine adds fuel to health management with its newly designated school of nursing.

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Thursday, April 27

Amway Unit to Lay Off Workers

Amway Corp.’s Buena Park facilities will see an unknown number of layoffs this week, according to a local news report in Ada, Michigan, where the parent company is based.

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Wanted: Most Community-Minded Companies for New OCBJ List

Is your company about much more than its bottom line? Does it also use its resources to better the Orange County community?

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Banc of California Hires CEO

Santa Ana-based Banc of California Inc. named Douglas Bowers, 59, its new chief executive and president.

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UCI Research Effort Gets $9.6M

University of California-Irvine has been awarded up to $9.6 million over seven years to continue studying ways to combat malaria.

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Franchiser Adds CMO

Home Franchise Concepts LLC in Orange has named Gayle Milling chief marketing officer.

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Irvine Chamber Names Starr CEO

Greater Irvine Chamber of Commerce hired Bryan Starr as its chief executive, effective May 19.

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Anabella Sets Date

The Anabella Hotel in Anaheim will close in August so its owners can demolish it and build a new hotel.

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Great Wolf Parent Moves HQ

The owner of Great Wolf Lodge Southern California in Garden Grove moved its headquarters from Madison, Wisconsin, to Chicago.

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China Billionaire to Take ChromaDex Stake

ChromaDex Corp. in Irvine said Hong Kong investor Li Ka-shing would buy up to $25 million of its common stock in a private placement.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,389.41.

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Irvine Co. Elevates Common Areas for Office Teamwork

REAL ESTATE: Perks like fridges, grills answer employers’ demand

Irvine Company’s own twist on the creative-office trend is gaining ground.

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Wednesday, April 26

Chargers Near Broadcast Deals

The Los Angeles Chargers said they've agreed “in principle” to multi-year television and radio agreements to develop content that includes preseason games, news features, community events and promotions.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,393.56.

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Vizio Could Chart New Course After Deal Dies

TECHNOLOGY: Also assessing data business after privacy settlement

The collapse of Vizio Inc.’s $2 billion sale to LeEco this month highlights the difficulty of completing deals between U.S. and Chinese companies in the current political-economic climate, though it presents one of Orange County’s best-known brands a range of options in the aftermath.

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Windjammer Buys Compliance Firm

Windjammer Capital Investors of Newport Beach bought Memphis-based Vital Records Control in partnership with the latter’s management team on undisclosed terms.

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Tuesday, April 25

Streetwear Apparel Co. Acquired

Lifted Research Group Inc. was bought by Mad Engine LLC in San Diego on undisclosed terms.

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Revolution Consolidates at JWA

Revolution Aviation in Newport Beach consolidated some its space at John Wayne Airport with an 18-month lease at ACI Jet Center, a fixed-based operator at JWA.

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Volcom Sales Down

Costa Mesa-based Volcom Inc. posted $60.1 million in revenue in the first quarter, a 3.5% decrease from the prior year period, according to Kering S.A., its Paris-based parent.

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Del Taco Wants Tennessee Again

Del Taco Restaurants Inc. signed a franchisee to open seven units in Tennessee, a return to that market for the fast food chain, and in Georgia, where Del Taco has recently announced new franchise deals.

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JWA Traffic Declines Again

Passenger traffic at John Wayne Airport fell 2.5% in March compared with same period a year ago, the second such decline in the last two months.

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FDA Approves Allergan Dry Eye Device

Allergan PLC received Food and Drug Administration approval for TrueTear Intranasal Tear Neurostimular, a device that temporarily increases tear production via electrical stimulation.

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Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 2,389.49.

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FivePoint IPO Would Raise Millions, Add to Ownership Complexity

REAL ESTATE: Developer has 37.5% stake in Great Park land

FivePoint Communities Inc.’s transition into a publicly traded company will make its executive team rich and provide plenty of financial cover for the next housing downturn. It should also free up plenty of cash for future real estate acquisitions in and out of Orange County.

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Samuelis Give UCI $30M

The Samueli Foundation gave University of California-Irvine $30 million to help build a 100,000-square-foot facility for “convergent science”—cross-disciplinary research in engineering, computing and physical sciences.

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Monday, April 24

Stratus Wine Country Cambria Set

A second Cambria-branded hotel being co-developed by Newport Beach-based Stratus Development Partners LLC got the go-ahead from Napa city planning commissioners last week.

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OCVA Tourism Confab at Great Wolf

Orange County Visitor Association said its OC Tourism Conference this year is set for May 10 at Great Wolf Lodge in Garden Grove.

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UCI Gets $1M for Rocketry

University of California-Irvine got a $1 million grant from Base 11, a nonprofit workforce development and entrepreneur accelerator in Costa Mesa focused on science, technology, engineering and math.

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Midday Stock Roundup

Market indices were up strongly in midday trading following the results of an election in France.

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Outside the Limelight

Some Independent Filmmakers Choose OC Over Hollywood

Orange County isn’t the first place filmmakers typically think of when setting up production companies. The history, money and panache permeating the industry has perennially been in Hollywood. Yet a cadre of filmmakers has planted business roots in Orange County, precisely as a counterpoint to Hollywood.

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FivePoint Updates Terms of IPO

FivePoint Communities Inc. could raise nearly $600 million from its forthcoming initial public offering and a trio of concurrent private placement deals, according to new regulatory documents filed with the Securities and Exchange Commission.

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VC Investments Dip To Lowest in 2 Years

FINANCE: Biggest Q1 deal Alignment Healthcare’s $115M

Venture capital investments in Orange County dipped to $182 million in the first quarter, the lowest amount since the $105 million worth of activity in the first quarter of 2015, according to the VentureSource report from Dow Jones.

An Investment Outlier that Avoids U.S.

Fund Finished Unlikely First in 2016

Peter Schiff’s EuroPac International Value Fund last year did something unusual in the investment world: It rocketed to No.1 on a Morningstar ranking from 100th place in 2015.

Continuing Ed for OC’s Community of Business

A single day last week bought a plethora of practical and poignant reminders that business is about continuing education at is core …

$56M Impac Mortgage Deal Involves Local Ties

FINANCE: Pickup family members boost stake with buy

Local real estate and private equity investors Richard and Todd Pickup have increased their already sizeable stakes in Impac Mortgage Holdings Inc. following a $56 million stock sale by the Irvine-based lender.

Real Estate Deals

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

Jangie LLC sold a 28,078-square-foot industrial building in Santa Ana to Six Points Management LLC for $5.2 million, or about $186 per square foot.

WD Warns Toshiba Against Deal With Broadcom

Toshiba Cash Needs Put It in Awkward Position

A global battle is brewing among three tech giants with sizeable operations in Orange County.

Sites Near 55 Freeway Eyed for Industrial, Chick-Fil-A

ITT Campus Along Dyer Could Get 9 Buildings

Big changes could be in the works for a large industrial property just off the Costa Mesa (55) Freeway in Santa Ana.

Outlets Developer Gets Support to Position New Center

Specialist to Help Plan, Brand San Clemente Shops

Craig Realty Group in Newport Beach hired hospitality, retail consulting and brokerage firm Brandon-California to help brand and plan the tenant mix for the second phase of its Outlets at San Clemente.

Software Maker, Sports Subsidiary Get Cash Infusion

Kadho in Irvine Preparing For $5M Series A Raise

An Irvine-based company that’s poised to open a Series A raise seeking $5 million just received two investments.

Innovation Institute Wants to Add Genomic Work

La Palma Facility Further Diversifies

Innovation Institute LLC named Christina Waters executive-in-residence at its lab-incubator-accelerator in an effort to begin genomic medicine work.

OCBJ Calendar

April 24-May 3, 2017

This week's business and other event listings.

Could Interest Rate Increases Affect OC’s Market?

At Least Some Experts Say They Won’t Dampen Sales

The historically low 3.5% interest rates that the country enjoyed between 2013 and the end of last year couldn’t last forever.


Other items of interest Orange County Business Journal Vol. 40, No. 17

Irvine-based Mazda North American Operations hired Dino Bernacchi as chief marketing officer, a new position.

Disney Teases Star Wars Land Through Tight Lips

AMUSEMENT: Shares few details on ‘interactive’ attraction

Walt Disney Co. recently released a few details about its upcoming Star Wars Land—very few.

Naude’s Vissla Turns Industry Heads 3 Years In

APPAREL: Takes trade group honor, but ‘lot of work to do’

Vissla, three years after its inception, emerged as the men’s apparel brand of 2016 at the Laguna Niguel-based Surf Industry Manufacturers Association’s annual gala this month.

Restaurant Founder Starts Arts Nonprofit

Pick Up Stix founder Charles Zhang created nonprofit O.C. Music & Dance to provide musical arts education and training to children, regardless of their family’s ability to pay.

Employment Agency Numbers Reflect Hot Job Market

Temp Down, Direct-Hire Up, For Firms That Tell

Orange County’s job market produced some apparent anomalies in the placement of temporary and permanent workers last year.

On California

What Happened to OC’s Housing Affordability from 1996 to 2004?

In my last three “On California” articles, I’ve pounded away, perhaps ad nauseam, on how high housing prices have negatively affected our state’s economy.

Emerald Expositions Prices Its IPO

Emerald Expositions Events Inc. in San Juan Capistrano is slated to raise about $300 million in its initial public offering, according to documents filed with the Securities and Exchange Commission.

Solis Capital Sells Apparel Manufacturer

Solis Capital Partners of Newport Beach sold ML Kishigo Manufacturing Co. to London-based Bunzl PLC. Terms of the transaction weren’t disclosed.

Device Maker’s $5.5M Buy Grows Line

Glaukos Corp. in San Clemente paid $5.5 million to Dose Medical Corp. in Laguna Hills for wireless sensor technology to incorporate into Glaukos’ eye stent product line to treat glaucoma.

Friday, April 21

NAWBO OC Will Honor 4

The OC chapter of the National Association of Women Business Owners will honor four business women at its Remarkable Women Awards Gala at City National Grove of Anaheim on May 11.

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Luxe Magazine Parent Buys Competitor

Modern Luxury, the parent publisher of Modern Luxury Orange County magazine, bought a competing publisher, GreenGale Publishing LLC, which expands its stable of luxury lifestyle titles.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,350.78.

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Business Journal Publisher Introduces New Editor

I am pleased to announce that Pete Weitzner will be joining the Business Journal’s newsroom as its new editor, commencing the last week of May.

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Veritone Prices IPO

Newport Beach-based start-up Veritone Inc. will sell 1.25 million shares of common stock valued between $14 and $16 per share under terms of its initial public offering, according to a filing today with the Securities and Exchange Commission.

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Unemployment Unchanged

OC’s unadjusted unemployment rate was 3.7% in March, unchanged from a revised 3.7% in February and below the 4.2% reported in the same period last year, the state Employment Development Department said.

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Thursday, April 20

$3M CSUF Grant for Math Work

California State University-Fullerton received a grant of nearly $3 million from the National Science Foundation.

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Execs’ Optimism Dips As Election High Fades

ECONOMY: Survey shows confidence still near record

Optimism among Orange County business owners and executives has subsided after the all-time high recorded in the first quarter, according to the latest California State University-Fullerton’s Orange County Business Expectations Survey.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,356.72.

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Mazda Hires CMO

Irvine-based Mazda North American Operations hired Dino Bernacchi as its chief marketing officer, a new position.

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Wednesday, April 19

Kaiser Aluminum Beats in Q1

Kaiser Aluminum Corp. reported revenue and earnings for the first quarter that beat Wall Street expectations.

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Whittier Law Won’t Enroll New Students

Whittier College’s board of trustees said today it won’t enroll a new class in the fall at its law school and “at the appropriate time, the program of legal education will be discontinued.”

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CSUF’s Gordon Dies

California State University-Fullerton's fourth president, Milton Gordon, died today after a long illness.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,342.98.

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Houzz It Done It?

Home-Updo Firm’s OC Office Balloons as It Sets Sights on World

It started out in 2012 as a small, 18-person office in Irvine whose “tight-knit” team had breakfasts and lunches together. Nowadays, Orange County is home to the biggest chunk of Palo Alto-based Houzz Inc.’s workforce. About 500 employees work in support, sales and e-commerce for the online home-improvement idea generator and marketplace.

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Tuesday, April 18

Nonprofit Adds to Fold

Irvine-based Alzheimer’s Orange County and Garden Grove-based Acacia Adult Day Services are slated to merge, effective July 1.

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Zhang to Launch Nonprofit

Pick Up Stix founder Charles Zhang created the non-profit O.C. Music & Dance to provide top quality musical arts education and training for children, regardless of their family’s ability to pay, Zhang said.

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Habit Hires CDO

Habit Restaurants Inc. named Douglas Branigan chief development officer; he fills a role vacated by Russell Friend, who left the Irvine-based operator of fast-casual hamburger restaurants in August.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,339.83.

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Western Digital Shifts HQ to San Jose in Hit To OC’s Tech Prestige

TECHNOLOGY: Says Silicon Valley better positions it in industry

Orange County’s largest public company has switched its headquarters designation to Silicon Valley, a reminder of the influence and attraction of the world’s top tech center, and yet another hit to OC’s corporate base.

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Two Acquisitions Paved Way for New Western Digital HQ

Western Digital Corp.’s newly designated headquarters in San Jose reflects the growing influence and importance of the company’s two priciest buys in its 57-year history.

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True Drinks Names CEO

True Drinks Holdings Inc. in Irvine named James Greco its chief executive.

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Monday, April 17

Sugarman’s Package: $18.2 Million

Banc of California former Chief Executive Steven Sugarman received an $18.2 million pay package in the past year, according to the company’s proxy released today.

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Solis Sells Apparel Maker to Bunzl

Solis Capital Partners of Newport Beach sold ML Kishigo Manufacturing Co. to Bunzl PLC. Terms of the transaction weren’t disclosed.

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Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 2,341.99.

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Emerald Prices IPO

Emerald Expositions Events Inc. in San Juan Capistrano is slated to raise about $300 million in its initial public offering, according to documents filed with the Securities and Exchange Commission.

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LoanDepot Focus ‘Customer Experience’

Fast-Growing Lender Chases Quicken Loans

Dominick Marchetti is on the hot seat at loanDepot LLC, the fast-growing mortgage lender based in Foothill Ranch.

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Allergan’s Irvine Campus Key to Open-Science Focus

HEALTHCARE: OC operations home to its biggest R&D facility

Allergan PLC hasn’t been shy about declaring a plan to grow its “open science” pipeline since Actavis PLC acquired the company two years ago.

Commercial Printers Hold the Line on 2016 Sales

29 Biggest Take in $621M Through 110 OC Presses

Orange County’s 29 largest commercial printers combined for $621 million in sales last year, about the same as the group posted in 2015.

Ad Agencies Post 2nd Straight Year of Double-Digit Gains

Two Firms Have 56% of List’s $1.5 Billion in Revenue

Let’s see that clip again.

Billabong’s Bikini Campaign Outswims the Competition

Roark Revival’s Work Lauded By Surf Group

Laguna Niguel-based Surf Industry Manufacturers Association recognized The Roark Revival in San Juan Capistrano and Billabong in Irvine for producing marketing campaigns of the year at the 14th Annual SIMA Awards ceremony last month in Silverado.

Private Companies Wanted for Annual List

SPECIAL ISSUE: List will be centerpiece of June 19 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.


The Case for Public TV: It Helps Us Reach Our Full Potential

On Nov. 10, 1969, Sally moved to Sesame Street and met Big Bird for the first time—the first of thousands of memories made by this groundbreaking educational television program. Years later in 1981, PBS aired Ken Burns’ documentary “The Brooklyn Bridge,” the first in a long list of historical documentary films by the acclaimed filmmaker.

Real Estate Deals

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

Scott Maison and Tiffany Wilson sold a 24,570-square-foot manufacturing building in Tustin to Grant W. Miller for $5.1 million, or about $208 per square foot.

‘Estadium’ May Boost Blizzard’s Hit Game Overwatch

500-Seat Facility in Taiwan Held First Tournament

Activision Blizzard Inc.’s newly launched sports “stadium” in Taiwan should boost exposure and standing for “Overwatch,” the hit first-person shooter game developed by Irvine-based subsidiary Blizzard Entertainment Inc.

Chinese Capital Drives Record Foreign Investment

Cross-border capital in Orange County grew last year for the fourth straight year, setting a record $1.2 billion, up 14.6% over 2015 (Figure 1).

$130M Sale of JCP’s Buena Park Site Sets New Mark

1.1M-SF Distribution Center Amid Biggest Here

CenterPoint Properties has closed on the buy of J.C. Penney Co.’s massive logistics and distribution facility in Buena Park in one of the largest industrial sales in Orange County in years.

Drugmaker Promotes Chemotherapy Trial Results

Plans 2018 Application To Begin Human Tests

Spectrum Pharmaceuticals Inc. said testing on rats for its drug Rolontis produced promising data and that it’s begun further work on animals to back its plan to file for Food and Drug Administration approval next year.

OCBJ Calendar

April 17-26, 2017; May 2, 2017

This week's business and other event listings.

Brewery Built on Home Delivery Expands Storefront

Outgrew Tap Room, Enlarges Tasting Room

A Huntington Beach craft brewery that started with a crafty way of getting its beers to consumers is expanding its bricks-and-mortar location.


Other items of interest Orange County Business Journal Vol. 40, No. 16

Arle Capital Partners Ltd., the London-based private equity firm that last year took public the parent company of Palace Entertainment Holdings LLC, sold a 15% stake in the parent for about $221 million to Belgium-based investor Groupe Bruxelles Lambert.


City of Hope hosted its third annual Let’s Be Frank About Cancer Gala on March 11 at the Balboa Bay Resort. More than 400 guests attended the fundraiser, which raised more than $713,000.

‘Oldest’ Craft Brewer Bets on Beer Cheese, Shakes

Regional Purveyor Also Adds Pubs, All To Vie With Big Players

Evans Brewing Co. Inc. in Santa Ana calls itself “Orange County’s oldest craft brewery,” and now it wants to add to its retail recipe food based on the beer it makes, plus restaurants.

Passion, Perfection, Poke Bowls

New Pelican Hill Boss Offers ‘Casual’ Plan in Q&A

Tom Donovan, the new managing director at the Resort at Pelican Hill in Newport Coast, officially began his duties on March 29, after running a 780-acre resort in Hawaii.

Chapman Master-Planned Irvine Campus Gets Bigger

EDUCATION: New programs, grounds in works

Chapman University has been aggressively expanding its graduate health science campus in Irvine since it opened in 2014, including adding programs—computational neuroscience and cognitive and brain sciences—and more than tripling its footprint to 25 acres.

Businesswoman Thrives in Male-Dominated Realms

Julie Hill Combined Drive, Dream to Defy Naysayers

“Pretty little girls like you become bitches-on-wheels if you go into business.”

Mom’s Love for Baby Inspired Specialized Line

LulyBoo Creator’s Naiveté Powered Her Through Snags

They say that what you don’t know won’t hurt you, or in Pazit Benezri’s case, stifle her entrepreneurial spirit.

Food, Lifestyle Firm Gets Funding on Way to $750K

Chuz Monetizes Consumer Reviews Without Stigma

Irvine-based Ergo Accel has invested in a company that’s developed a mobile platform to personalize food, drink and lifestyle choices.

Jimmy P Bowls Doti Over for Shea

Could there have been any doubt that something unique would happen when the Shea Center for Therapeutic Riding put Jim Doti and Jim Peterson on stage together?

4000 MacArthur Office Property in NB on Block

REAL ESTATE: Offices home to Hyundai, could get $200M

The 4000 MacArthur office complex in Newport Beach is for sale again in what could prove to be Orange County’s largest office transaction so far this year.

Friday, April 14

Glaukos’ $5.5M Buy Grows Line

Glaukos Corp. in San Clemente paid $5.5 million to Dose Medical Corp. in Laguna Hills for wireless sensor technology to incorporate into Glaukos’ eye stent product line to treat glaucoma.

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Midday Stock Roundup

The markets are closed today in observance of Good Friday.

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TRI Pointe Stock Performance Slammed by Starwood

REAL ESTATE: Ex-majority owner knocks plan on way out

An eight-year partnership between Irvine-based homebuilder TRI Pointe Group Inc. and its former majority shareholder ended on an unexpected sour note.

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Thursday, April 13

AC Hotel Irvine Opens

The AC Hotel Irvine opened March 31.

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OC TV Stations Get $115M

PBS SoCal KOCE, with headquarters in Costa Mesa, will receive $49 million and KDOC-TV in Santa Ana will receive $66 million from the Federal Communication Commission’s “World's First Broadcast Incentive Auction,” which closed today.

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El Pollo Loco Cuts Franchise Fees

El Pollo Loco Holdings Inc. in Costa Mesa will lower initial franchise fees and cut the royalty rates it charges franchisees to boost growth.

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Brewer, Tasting Room Closes

Valiant Brewing Co. in Orange closed March 31.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,334.89.

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Bill Gross Wins, But Still Chasing PIMCO

Legendary Bond Investor Struggling to Keep Up

Bill Gross can claim he won a battle when the company he co-founded, Pacific Investment Management Co., agreed late last month to pay him an estimated $81 million to resolve a bitter split.

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Biolase to Raise Up to $17.6M

Biolase Inc. in Irvine plans to raise up to $17.6 million, including warrants, in a private placement with several investors.

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Palace Parent’s PE Firm Sells Stake

The private equity firm that took Palace Entertainment Holdings LLC’s parent company public last year has sold a 15% stake in the company for about $221 million to a Belgium-based investor.

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Wednesday, April 12

UCI Receives $1 Million Estate Gift

University of California-Irvine announced today a $1 million gift from the estate of Christian Werner, former professor emeritus of geography and former dean of the School of Social Sciences.

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Ocean Institute Gets CEO

Ocean Institute in Dana Point named Dan Pingaro president and chief executive, effective April 24.

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Quality Systems in $34M Buy

Quality Systems Inc. subsidiary NextGen Healthcare Information Systems LLC will buy Entrada Inc. for $34 million.

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Eyes Have It ... Again

Presbia Plots Growth Curve Amid Stiff Competition

Another Orange County device maker wants an aging U.S. population to see better.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,346.68.

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Ubiquity Shareolders to Testify Before SEC

Shareholders in the troubled Ubiquity Inc. of Irvine are permitted to testify at a Security and Exchange Commission public hearing on April 17 in Washington, D.C., according to its majority owner Strategic Capital Management Ltd.

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Tuesday, April 11

Carnival to Double Long Beach Berths

Carnival Cruise Line will double its Long Beach operations in square footage and ships under an expansion that breaks ground tomorrow.

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New Home Preps 275 Acres in Corona

REAL ESTATE: Bedford project to hold 1,200+, 400 in 1st phase

The New Home Co. Inc., one of the most active builders on the Irvine Ranch and other area master-planned communities owned by Orange County’s largest landowners, is turning the tables for a new project it has in the works just over the Riverside County line in Corona.

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WD Leads $33M Investment Round

Irvine-based Western Digital Corp. led a $33 million strategic funding round for a Northern California company that specializes in flash storage systems.

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Alliance Goes Private

Alliance HealthCare Services Inc. in Newport Beach will be taken private by Tahoe Investment Group Co., Ltd. in Fuzhou, China in a deal that values Alliance at about $145 million.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,351.91.

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Monday, April 10

Boy Scouts Bolster Board

Boy Scouts of America, Orange County Council added two board members who are expected to expand leadership and career training for its youth members, grow the group’s STEM—science, technology, engineering and math—programs, and expand outreach efforts into underserved communities.

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Register Redesigns Website

Southern California News Group redesigned its Orange County Register website for, it says, “cleaner presentation, simplified navigation, enhanced functionality, and greater interactivity for sharing and commenting on stories.”

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UCI Prof Gets $1M Grant

DK Electronic Materials Co Ltd. in Jiangsu, China, gave $1 million to University of California-Irvine to support the work of chemical engineering and materials science Professor Frank Shi.

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TTM’s View From the Top

Acquisitions, Custom Design, Power Growth of Top PCB Maker in America

TTM Technologies Inc. has taken an unconventional route to become the nation’s largest printed circuit board maker.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,360.75.

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Vizio’s $2B Sale Axed

Irvine-based Vizio Inc.’s proposed $2 billion sale to Chinese conglomerate LeEco has been terminated due to “regulatory headwinds,” the companies said Monday morning.

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Opus Board Gets Ex-Fed Director

Irvine-based Opus Bank said Paul G. Greig, a former chairman and chief executive at FirstMerit Corp. in Akron, Ohio, had joined its board.

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Five Point Refiles IPO

Five Point Holdings LLC in Aliso Viejo refiled its registration to go public and set a placeholder value of $100 million on the offering.

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Volcom Exec Exits for Billabong in CM

Kevin Meehan left the role of Volcom Americas president to join Billabong Group’s RVCA in Costa Mesa as global general manager.

Change as Constant; Code as Culture

Check the front-page story on the biggest publicly traded companies based in OC, and you’ll get in sync with Catherine Wood, founder, CEO and CIO of ARK Invest, which specializes in active ETFs that aim to get their arms around the much-ballyhooed, often-misunderstood “disruptors” of today’s business world.

Irvine Co. Thinks Small With Spectrum Purchase

REAL ESTATE: $58M for 19 buildings beside Broadcom

Irvine Company has bought a low-rise office campus in the shadow of Broadcom Ltd.’s new office campus in the Irvine Spectrum.

Vans Parent Foresees 47% Sales Jump

APPAREL: Growth space, history inspire 2021 plan

Is a $3.37 billion revenue goal slightly “off the wall,” even for action sports industry superstar Vans Inc.?

Trade Show Operator Plans More Growth Post-IPO

SERVICES: Spent about $190M on shows in 2 years

San Juan Capistrano-based Emerald Expositions LLC spent nearly $190 million since early 2015 on a dozen acquisitions, according to the initial public offering it filed with the Securities and Exchange Commission on March 31.

OC’s Stock Market Underbelly Full of Surprises

Blackcraft Cult’s Market Cap Out of This World

Blackcraft Cult Inc. opposes organized religion, but it sure likes the stock market.

Device Maker With OC HQ Purchased

London-based private equity firm Apax Partners LLC agreed to buy Syneron Medical Ltd. for $397 million in cash.

Bank Reviews Options Per Regulators

California First National Bancorp, which has been criticized for its commercial loan portfolio, said it’s undertaking a strategic review of options after a regulator advised further reduction of leveraged loans.

Southwest Adds Sacramento From LB

Southwest Airlines will fly to Sacramento from Long Beach Airport starting in August.


Other items of interest Orange County Business Journal Vol. 40, No. 15

John Mack, former chairman and chief executive at Morgan Stanley, was appointed chairman of the board of managers of Newport Beach-based Lantern Credit LLC.

First-Quarter Home Sales Best 2016, 2015 Numbers

71 Properties Change Hands Above $4 Million

Seventy-one Orange County homes sales closed at or above the $4 million mark in the first quarter, eclipsing the same time period in both 2016 and 2015, according to real estate aggregator Redfin.

OCBJ Calendar

April 10-19, 2017; May 2, 2017

This week's business and other event listings.

MemorialCare Medical Burnishes Services to Women

19 Providers at 2 Facilities Offer Range of Life-Care

MemorialCare Medical Group strengthened its strongholds in Fountain Valley and Long Beach with new services geared toward women—including prenatal and gynecological care—at two locations.

Hyundai Runs With LA Marathon Sponsorship Opp

Auto Partner of One Of Biggest Runs in Country

Hyundai Motor America Inc. in Fountain Valley debuted last month as the official automotive partner of The Skechers Performance Los Angeles Marathon, a new sponsorship category.

Revamped Kaleidoscope Shopping Center Up for Sale

Sold for $22M in 2010, Now About 82% Full

Mission Viejo’s Kaleidoscope shopping center is for sale.

Cargile Will Lead Roseville-Based Co. From NB Office

Intends To Stay Active In Local Organizations

Chuck Cargile, the former chief financial officer of Newport Corp., has been tapped for the top position at Roseville-based Sunworks Inc. and will lead the solar power provider from an office in Newport Beach.

Real Estate Deals

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

U.K.-based electronics parts supplier BI Technologies sold a 64,250-square-foot industrial building in Fullerton to Guthrie Development for $7.8 million, or about $121 per square foot.

Bull Market for Public Cos.

Capitalizations Rise, IPOs Return, for OC’s Top 100

It was another year of change for Orange County-based public companies.

Friday, April 7

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,361.77.

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Private Companies Wanted for Annual List

The Business Journal is preparing its annual list of privately owned companies for publication in June.

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Robots to the Rescue

Manufacturers Say Systems Integrator Helps Them Stay Competitive

TransAutomation Technologies Inc.’s mission is to “help businesses succeed through automation,” and get them to “re-shore, remain in California and remain profitable.”

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Concierge Health App Planned

Former Alphaeon Corp. Chief Executive Robert Grant said he will launch an app this fall for consumers to schedule and access on-demand specialist physicians in fields such as orthopedics, cardiology and brain surgery.

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Thursday, April 6

Endologix Signs $170M Debt Deal

Endologix Inc. in Irvine agreed on a debt package of $170 million with New York private equity firm Deerfield Management Co., which now also holds rights to buy 6.5 million Endologix shares at $9.23 apiece.

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Wincome Group Renames Hotel

The former Anaheim Plaza Hotel & Suites has been renamed Anaheim Hotel, said hotel owner Good Hope International.

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Cylance Cuts Jobs

Cylance Inc. in Irvine has initiated a round of job cuts in a restructuring.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,362.16.

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Hines Looks to Add Rentals, Hotel to Brea Site

REAL ESTATE: Latest project planned for site next to mall

Hines Interests LP is the latest big office owner in Orange County looking to add apartment development to its local repertoire.

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Wednesday, April 5

ECCU Names Chief Credit Officer

Evangelical Christian Credit Union in Brea appointed Patty Staples senior vice president and chief credit officer.

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Banc of California Board Changes Again

Santa Ana-based Banc of California, which has been buffeted by turmoil over the last six months, said one director resigned from its board and two others were appointed to it.

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Chemical Maker to Buy China-Owned U.S. Product Lines

American Vanguard Corp. in Newport Beach has agreed to buy some U.S. assets of three crop protection product lines from Adama Agricultural Solutions Ltd. in Israel, on undisclosed terms.

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Karma Auto Owners Pay $56M for Irvine HQ

REAL ESTATE: Revero maker leased last year, but yet to move

Karma Automotive LLC is embracing a lease-to-own strategy, for its local real estate holdings, at least.

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Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 2,375.64.

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Alliant Buys SES Insurance Brokerage

Alliant Insurance Services Inc. in Newport Beach bought SES Insurance Brokerage Services Inc. in Santa Ana on undisclosed terms.

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Taco Bell Gets PETA Props

Taco Bell Corp.’s bean burritos will be the focal point of an upcoming campaign by People for the Ethical Treatment of Animals.

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Tuesday, April 4

Volcom Exec Moves to RVCA

Kevin Meehan has left the role of Volcom Americas market president to join Billabong Group’s RVCA in Costa Mesa as global general manager.

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UCI’s Burk Awarded Fulbright Scholarship

Dan Burk, the Chancellor’s Professor of Law at University of California-Irvine’s School of Law, has been awarded a Fulbright U.S. Scholar Award in cybersecurity to the Oxford Internet Institute in the U.K., according to the U.S. Department of State and the J. William Fulbright Foreign Scholarship Board.

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Ex-Morgan Stanley Chief to Chair Lantern Credit

John Mack, former chairman and chief executive at Morgan Stanley, was appointed chairman of the board of managers of Newport Beach-based Lantern Credit LLC.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,356.80.

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Fixed Base Operator Lands at JWA

AVIATION: ACI Jet Takes Controls at 2nd Airport Slot

Saturday was move-in day.

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Bank in Strategic Review

California First National Bancorp, which is trying to improve its risk-management system, said it’s undertaking a strategic review of options after a regulator advised a further reduction of leveraged loans.

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Monday, April 3

Chapman Gets Experian Gift

Chapman University plans to expand work in data science and artificial intelligence with a $750,000 donation from Experian PLC, which creates the Experian Assistant Professorship in Machine Learning.

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OC Automakers’ March Sales Mixed

Two of the four largest Orange County-based automakers exceeded the national sales pace for new vehicles in March, according to New Jersey-based market researcher Autodata Corp.

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Chinese Co. Establishes Brea HQ

Shenzhen Rapoo Technology Co. Ltd. has established its North American headquarters in Brea.

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Apax to buy Syneron for $397M

Apax Partners LLC has agreed to buy Syneron Medical Ltd. for $397 million in cash.

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Samuelis Give $20M to UCLA

The Samueli Foundation in Corona del mar gave $20 million to the University of California-Los Angeles’ Henry Samueli School of Engineering and Applied Science, the foundation said.

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HCP President to Depart

HCP Inc. President Justin Hutchens will leave the Irvine-based healthcare-focused real estate investment trust to lead Darlington, England-based HC-One Ltd. as chief executive.

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In Memory of a Market Seer

Chuck Martin Also Used Business Savvy to Boost Schools, Museums

Chuck Martin knew what to do when others panicked.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,351.63.

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Emerald Files for IPO

San Juan Capistrano-based Emerald Expositions LLC has filed to raise up to $100 million in an initial public offering.

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Doheny Blues Foundation to Launch

Doheny Blues Festival Founder Rich Sherman said he’ll create the Doheny Blues Foundation in honor of the 20th anniversary of the festival, which runs May 20-21 in Dana Point.

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Southwest Adds Sacramento From Long Beach

Southwest Airlines will fly to Sacramento from Long Beach Airport starting in August.

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Praise for Book on OC Business History

In the month Chuck Martin learned he had cancer, he started writing “Orange County, Inc., — The Evolution of an Economic Powerhouse.”


Other items of interest Orange County Business Journal Vol. 40, No. 14

Nancy Alvarez, assistant dean of experiential education and continuing professional development at Chapman University’s School of Pharmacy, was inducted as president of the American Pharmacists Association.


The JDRF Orange County chapter’s 2017 Dream Gala was held on March 18 at the Ritz-Carlton, Laguna Niguel in Dana Point, bringing together influential leaders, sponsors and organization supporters to help raise $1 million for diabetes research.

When One Restaurant’s Door Closes, Another Opens

Plenty of Changes On OC’s Dining Menu

The freeway of restaurant openings, closings and moves is staying busy with lots of traffic.

Golden State Foods Beefs Up C-Suite

Golden State Foods in Irvine named several new senior executives to its leadership team, including a new chief administrative officer and chief financial officer.

Software Developer Takes In $15 Million

Irvine-based Cloudvirga, a software developer that’s automated the mortgage process, said it’s raised $15 million in Series B funding.

Fast Food Chain Expands Texas Deal

El Pollo Loco said a Texas franchisee has agreed to nearly triple the number of units the local operator will open.

Agencies Lauded By Ad Federation

The American Advertising Federation of Orange County held its annual awards gala at the Balboa Bay Club in Newport Beach.

Phone Accessories Maker Charged About New Case

TECHNOLOGY: Apple’s blessing precedes branch-out

Irvine startup Peri Inc. has high hopes for its second-generation iPhone charger and speaker case as the company looks to expand accessory offerings and attract its first institutional investment round.

Knobbe Martens Opens NYC Office

LAW: IP law firm moving 4 OC lawyers to branch

Irvine-based Knobbe, Martens, Olson & Bear LLP, Orange County’s largest law firm, has opened an office in New York City.

Entrepreneurs Bet on Emerging Blockchain Tech

STARTUPS: 3 firms try to capitalize on its security, ease

An emerging technology is making inroads in Orange County with three new local companies introducing offerings.

Bascom Goes Big With $94M Rental Purchase

REAL ESTATE: Villas at Tustin buyer’s largest here

Irvine-based apartment investor Bascom Group LLC has made its largest ever acquisition in Orange County, picking up a 406-unit rental complex in Santa Ana.

Chuck’s Bargain; Tran’s Crayons; Port’s Storm

Chuck Martin grew up in modest circumstances, but there was nothing modest about his brains and drive—the stuff that got him to Ohio State, where he worked 40 to 50 hours a week at minimum-wage jobs while gobbling up knowledge at a pace that earned him a B.S. degree with five majors: mathematics, physics, chemistry, electrical engineering, and business.

Forum for Women Provides Investing Know-How

Teaches Wealthy Members About Angel Investing

A new angel investing group is tailored to high net-worth women who want to learn more about investing.

Real Estate Deals

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

Doyle Properties LLC sold an industrial building in Anaheim’s Canyon Business Center to American Technologies Inc. for about $16.6 million, or about $115 per square foot.

Vizio Buyer Makes More Money-Saving Moves

LeEco Puts Up US HQ For Sale as Awaits Buy Closing

Vizio Inc.’s proposed buyer, LeEco, is trying to sell its recently purchased U.S. headquarters in San Jose as the company moves to improve its depleting cash position, according to a Reuters report.

Five Point IPO Still in Works, Says Lennar CEO

First Proposed in ’15, Deal Slowed by Choppy Market

Aliso Viejo-based Five Point Holdings Inc., the master developer of Great Park Neighborhoods in Irvine and other large projects in California, hasn’t abandoned its plans for an initial public offering, according to one of the company’s largest investors.

OCBJ Calendar

April 3-12, 2017; May 2, 2017

This week's business and other event listings.

Taco Bell Dishes Out Fast Fare with Foursquare’s Help

Using Data to Get Better Handle on Foot Traffic

Taco Bell Corp. in Irvine has begun to use Foursquare Analytics to better “understand changing foot traffic patterns” at its U.S.-based restaurants.

Healthy Smiles: New Dental Digs in Old Office Space

Can Double Treatments For Many Low-Income Kids

Healthy Smiles for Kids of Orange County upped space dedicated to dental care at its roughly 6,700-square-foot Garden Grove Smile Center.

OC Office Developers Aim to Backfill Existing Space

Some 1.5M SF of Big Blocks of Space Available

Three of the area’s biggest owners of high-end office space in Orange County, Irvine Company, LBA Realty, and Hines Interests LP—have proposed a handful of local office projects totaling close to 750,000 square feet for the area around John Wayne Airport and the Irvine Spectrum.

It Computes Shopping

Humanoid Robot Tested for Irvine Co. Retail

Irvine Company is spicing up its retail scene with Pepper, a humanoid robot capable of understanding and reacting to human emotions.

Remembering Chuck

OC Business Leaders reflect on lessons learned and good times shared with a mentor and friend

One of Michael Kaye’s first venture capital investments was in a company in Silicon Valley. A week later, the company announced much poorer numbers than they’d shared with him.

Brisk Sales Boost Bottom Line of CRE Brokerages

Volume Rises 8%; Lease Deals Down 3%

A brisk pace of building, apartment and land sales helped overcome some sluggish leasing activity in Orange County last year. The bottom line: another year of gains for the area’s largest commercial brokerages.

Development Buoys OC Property Managers’ Books

Top Firms’ Local Accounts Approach 200 Million SF

A dose of development helped Orange County’s largest commercial property managers grow their local portfolios for the fifth straight year.