Stories for October 2017
Tuesday, October 31
Irvine-based Arbonne International LLC said today that Chief Executive Kay Zanotti has been awarded the 2017 Procter and Gamble Company Alumni Awards’ McElroy Award, recognizing her “significant contributions to the art and science of satisfying the consumer.”
Monday, October 30
CalAtlantic Group Inc. in Irvine is being purchased by Lennar Corp. in a $9.3 billion deal, one of the largest on Wall Street this year.
Allergan PLC received Chinese regulatory approval for Ozurdex, an eye implant designed to treat adults with macular edema following retinal vein occlusion—an eye stroke.
AUTOMOTIVE: Adds 3 years to deal; cites its winning results
Some things just go together: milk and cookies, Trump and Twitter, Kia and the NBA.
Tustin College Campus Eyes Private-Sector Users
Tustin Legacy is doubling down on office development, and now has an eye on education and job training for the region’s next generation of tech workers.
Fastest-Growing Cos. Use Buys to Bump Sales 44%
Orange County’s fastest growing publicly traded companies increased revenue by $16 billion in a two-year span.
Other items of interest Orange County Business Journal Vol. 40, No. 44
St. John Knits International Inc. will cut 72 jobs in Irvine, effective Dec. 11, according to a filing with the state.
Move to Grow Web-Insight Specialist Workforce 20%
A fast-growing software service provider for brand manufacturers has moved to a larger headquarters at the Irvine Spectrum as it preps a product launch.
Novoheart Puts Down Roots at The Cove
A Hong Kong-based stem-cell biotech company that’s tackling heart disease opened a flagship U.S. location at The Cove.
Distribution Site Top Q3 Industrial Lease
Amazon hasn’t selected Orange County for its massive HQ2 project, as far as we’ve heard.
Steve Aoki, Athletes ‘I Move Me’ Campaign Stars
ASICS America Corp. in Irvine signed on Grammy-nominated DJ Steve Aoki as the face of its “I Move Me campaign” in North America.
Reports Positive 1st-Year Data, Opens More Clinics
Part of the equation of providing good care while keeping cost affordable is to bring medical care away from hospitals and into communities.
AutoGravity Corp. in Irvine added Irvine-based Global Lending Services LLC, a sub-prime lender based in Greenville, S.C., to its car-shopping app.
Hoag Memorial Hospital Presbyterian in Newport Beach received a $15 million gift for its neurosciences institute from longtime local philanthropists the Pickup Family Foundation, it was announced at the institute’s 10-year anniversary celebration.
Dendreon Pharmaceuticals LLC expanded senior management with three hires and two promotions after returning its headquarters to Orange County this summer following a sale.
TECHNOLOGY: Coming home to Microsoft’s voice-activated assistant
Smartlabs Inc. Chief Executive Rob Lilleness entered a meeting this past summer at Microsoft Corp. headquarters expecting software development work.
Losses and Stigma Still Block the Stock
Terra Tech Corp.’s game plan in the budding recreational and medicinal marijuana industry aims to bring seed to sale under one roof.
Bank and Wealth Manager Doubles Sales in 2 Years
First Foundation Inc. doubled revenue in the past two years, making it the fastest grower among midsize publicly traded companies in Orange County.
2-Year Growth of 208%; New Affordability Focus
A slowly improving U.S. housing market has boosted most large national homebuilders’ sales and bottom lines over the past few years.
GG Company Grows On Tesla Product Work
A deal with “a major electric car company in Northern California” is poised to spark substantial growth in revenue for a Garden Grove-based manufacturer of high-performance polymer products.
More than 200 business and community leaders attended the 13th annual Orange County Council, Boy Scouts of America Investment Real Estate Luncheon on Oct. 5 at the Westin South Coast Plaza. 1w
Fights 2 Patent Battles; No Sub Blockbuster in Wings
A recent federal district court ruling—a federal judge invalidated exclusive protections for dry-eye drug Restasis—isn’t sitting well with Allergan PLC.
STARTUPS: ‘Deep gene pool’ cited as key motivator
When a London-based startup that developed an all-in-one tool for communication, collaboration and employee engagement was looking to move its North American headquarters from Toronto to Southern California, it chose a new incubator in Irvine.
FINANCE: Investors cheer turnarounds at three firms
Four of the five largest publicly traded banks based in Orange County reported last week that profits improved in the third quarter over the same period a year earlier.
REAL ESTATE: Details, plan of deal for iconic site unclear
The sale of the iconic Hotel Laguna to a group of prominent Orange County business executives and community leaders is being challenged in court by the Laguna Beach hotel’s operators, who claim they were illegally deprived of the opportunity to buy the 65-room property.
TECHNOLOGY: Device accessory firm eyes ‘transaction’
Incipio Group is changing its skin.
Among our P1 stories, Mediha DiMartino found a nondescript Garden Grove co. sitting on new business that could triple sales—a story anytime, more so when the growing concern is part of a 352-year-old French manufacturer.
Sales and leases of offices, industrial buildings, retail space and apartments
Anderson Bouchier Properties sold a multitenant retail building to Yitae Sohn for $6.7 million, or $618 per square foot.
Friday, October 27
Aliso Viejo-based Microsemi Corp. has reached a deal to acquire the timing device business of Vectron International for $130 million.
St. John Knits International Inc. will cut 72 jobs in Irvine effective December 11, according to a Worker Adjustment and Retraining Notification it filed with the state Employment Development Department.
Thursday, October 26
University of California-Irvine Chancellor Howard Gillman has been named co-chair of an advisory board for a new University of California center dedicated to free speech issues.
BJ’s Restaurants Inc. in Huntington Beach reported revenue of $247 million in its most recent quarter, up about 6% year-over-year. Net income was $2.4 million—down two-thirds from the same period last year, when net income was $7.2 million.
Dendreon Pharmaceuticals LLC expanded its senior management with three new hires and two promotions.
Wednesday, October 25
Vanguard University in Costa Mesa has been awarded a five-year, $3.75 million grant through the U.S. Department of Education’s Developing Hispanic-serving institutions program.
The Orange Coast College Foundation said it received a gift of $1.8 million, the largest donation in its 32-year history.
Hoag Memorial Hospital Presbyterian in Newport Beach received a $15 million gift for its neurosciences institute from longtime local philanthropists the Pickup Family Foundation.
Bear Flag Restaurant Group in Newport Beach plans to open a new restaurant at Lido Marina Village.
Tuesday, October 24
Edwards Lifesciences Corp. reported $481 million in global sales for its core transcatheter heart valve technology, up some 17% from the same period a year ago but down compared with its last two quarters—$539 million for the first quarter and $487 million for the second quarter.
Long Beach Airport passenger traffic grew 22% year-over-year to 301,000 in September.
MerchSource LLC launched retail websites for its FAO Schwartz and 5th Avenue Bergdorf Goodman brands.
Hyundai Motor America Inc. named Brian Smith its chief operating officer.
University of California-Irvine is part of a group that received a five-year, $14.6 million U.S. Dept. of Education grant to improve literacy instruction.
Monday, October 23
Southern California News Group launched ExcelsiorCalifornia.com as the “go-to digital Spanish-language news source” for Orange, Riverside, San Bernardino and Los Angeles counties.
A Newport Beach attorney had his $417 million verdict against New Brunswick, NJ-based Johnson & Johnson overturned.
Spinal Singularity in San Clemente raised $3.1 million in seed funding to support development of its connected catheter designed for adult men with chronic lower urinary tract dysfunction.
$117 Million Jump In Price Tops in California
Emmes Group of Cos.’ ownership of the Michelson office tower in Irvine from 2009 to 2012 was said in a recent market report to be the shrewdest office investment in the state in recent years.
Gigantic Miu Miu Joined Birthday Fashion Shows
South Coast Plaza continued its 50th anniversary celebration with a pop-up exhibit in the Jewel Court Oct. 6 to 17 that featured two 12-foot handbags by Miu Miu.
Japan Laws Approve Product in 6 Months
The cell and gene therapy industry continues to capture the interest of investors of all types, including international investors attending the Cell and Gene Meeting on the Mesa, a three-day conference at the Estancia La Jolla Hotel & Spa this month.
MARKETING: In robust IPO year, biggest biding its time
Several local companies sprinted to the stock exchange shortly after filing for an initial public offering this year, matching the national pace of just over 50 days, according to a report by PwC in New York.
NB Wealth Manager Doubles Assets with Provocative Views
David L. Bahnsen runs a business that isn’t politically correct.
REAL ESTATE: Retailer in 15-year lease-back
The local office of development and investment firm Hines has made another notable office acquisition in North Orange County, buying the Anaheim headquarters of Pacific Sunwear of California Inc.
HEALTHCARE: Light therapy device used for pain, aesthetics
BioPhotas Inc. in Anaheim plans to tackle the Holy Grail of perpetual, nonhealing wounds with its light therapy device Celluma.
REAL ESTATE: Family biz back after Goodman stint
Birtcher Development LLC is back in business, minus the Australian accent.
Deadline gone for Amazon’s HQ2. I was in London at Trafalgar Square when that city won the bid for the 2012 Olympics.
Other items of interest Orange County Business Journal Vol. 40, No. 43
The University of California-Irvine said it will create a Center for Jewish Studies to bring together faculty, students, visiting scholars and members of the public interested in exploring Judaism.
Sales and leases of offices, industrial buildings, retail space and apartments
Pacific Performance Engineering sold a multioffice building to Galaxy Oil Co. for $3.8 million, or $316 per square foot.
Beneficiaries of Pro Bono Work Include Elderly, Vets
The elderly woman had made her decision. She needed to get her granddaughter out of her home. She loved the young woman dearly, but the substance abuse problems she struggled with had changed the girl into someone her grandmother no longer recognized.
Tax Firm Staff Good At Math But Give Out Books
Every few months, employees at KPMG’s Orange County office trade in their crisp suits and smart outfits for jeans and comfy shirts, turning a workplace full of accountants and tax specialists into a group of folks who look ready to head to a ballgame. And each happily pays $5 to do it.
Thousands of Hours, Cash Donated Every Year
A financial literacy program to teach young people better money habits. Ongoing training for nonprofit leaders. A food and supplies drive for homeless military veterans, whose donations nearly reach the ceiling.
Stakeholders Helped It Identify Youths’ Needs
There are times when a simple idea leads to an unimagined result. That was the case a few years ago, when Lisa Haines Heppelmann and Jill Bolton of Disneyland Resort decided to take a closer look at how the organization invested philanthropic dollars.
‘Corporate Philanthropy Is in a Renaissance’
The list in this Special Report is unusual for the Business Journal in two ways. It’s a first—the first list of local-market Civic 50 honorees in the country. And it’s likely a first Business Journal list without financials. Rightly so.
Since 2012, The Civic 50, an initiative of Points of Light, has recognized the 50 most community-minded major corporations in the nation each year as determined by a survey developed by True Impact. For the first time in a local market, the Orange County Business Journal presents the 2017 Civic 50 Orange County in partnership with OneOC, recognizing the 50 most community-minded small, medium, and large Orange County companies.
Allergan PLC raised eyebrows last month when it announced its patent deal with an American Indian tribe in New York, transferring the rights for its eye drug Restasis to the Saint Regis Mohawk Tribe.
Charles Antis was just a few years into his roofing business and still at that stage where, while the dollars were coming in, the money from each job had an outsized impact on the business’ future. So when he got a call from a desperate woman who needed her leaking roof fixed right away, he took the job.
Toshiba America Business Solutions Inc. has moved its North American headquarters from Irvine to Lake Forest, where executives are mapping an acquisition strategy last implemented nearly a decade ago.
Esports Arena Debuts at Johnny Carson’s Old Studio
Studio 1 looked every bit its age before the demolition crews arrived.
OC Presence Includes 18 Buildings, 1.4M SF
Applied Medical Resources Corp. in Rancho Santa Margarita expanded its European operations this month with the opening of a 215,000-square-foot manufacturing, research and development facility at its European headquarters in Amersfoort, Netherlands.
Irvine Co. Would Fund 8M-SF Project, L-T Lease
The city of Irvine is pulling out all the stops to land Amazon’s second headquarters, including an offer from Irvine Co. to fully finance the development of the 8-million-square-foot project, which would be largely built on its Spectrum-area land.
Applied, over the course of 30 years as a private company, did not stray far from its founding mission.
David Bahnsen saw the 2008 financial crisis from a unique view as a managing director at Morgan Stanley.
Newport Coast Tops The List; 4 New Zips Join It
The United States boasts 401 zip codes with median home values surpassing $1 million, according to new data by Realtor.com.
Gives Equipment, Own Data Center for Recovery
An Irvine company is offering free data storage for the next six months to businesses affected by hurricanes Irma, Harvey and Maria.
Syntr Treats Diabetic Foot Ulcers
A startup created by University of California-Irvine alumni who created a device to treat diabetic foot ulcers with stem cells received a grant for $300,000.
Friday, October 20
Japanese printer maker Konica Minolta Inc. and Innovation Network Corporation of Japan (INCJ) closed their joint acquisition of genetic diagnostics company Ambry Genetics Corp., in Aliso Viejo.
The September unemployment rate in Orange County was 3.6%, down from a revised 4.2% in August and lower than a year-ago estimate of 4%.
Thursday, October 19
Pacific Hospitality Group in Irvine named Kent Crandall chief financial officer, hired a senior vice president of operations to report to COO Robb Walker, and shifted a GM to its Paséa resort.
Several OC-based franchise systems made the 2017 Franchise Times 500 list, which ranks companies by 2016 systemwide sales.
Del Taco Restaurants Inc. in Lake Forest reported higher revenue and net income in its third quarter compared with the same period last year, but revised some projections downward for its full-year performance and shares fell about 20% in Friday trading to a $473 million market cap.
The gaming division of Fountain Valley-based Kingston Technology Inc. has been named the official headset partner of the Philadelphia 76ers.
Newport Beach-based digital marketing agency ymarketing was acquired by Sandbox in Chicago on undisclosed terms.
Wednesday, October 18
Kaiser Aluminum Corp. reported revenue and earnings for the September quarter that fell below Wall Street expectations.
Investors are scrutinizing Irvine-based Opus Bank for its credit lines given to the notorious Hollywood filmmaker The Weinstein Company.
Tuesday, October 17
Stearns Lending LLC, one of the nation’s largest non-bank mortgage lenders, is cutting 159 jobs, about a third of its workforce in Orange County.
Monday, October 16
University of California-Irvine said today it will create a Center for Jewish Studies that will bring together faculty, students, visiting scholars and members of the public interested in exploring Judaism.
Southwest Airlines will see a second year of passenger cuts at John Wayne Airport if county supervisors approve the airport's 2018 seat allocation request Tuesday.
Sales and leases of offices, industrial buildings, retail space and apartments
Jay J. Chong sold a store-front retail/office building to Susan A. Hawken for $3.8 million, or $224 per square foot.
Yorba Linda CareFusion Ops Moving to Spectrum
One of the biggest medical device firms in Orange County plans a major expansion and hiring push after signing a deal to move its local operations from Yorba Linda to an office project being built in the Irvine Spectrum.
How a Nobel Prize Winner Teaches Economics to Chapman Students
Ninety-year-old Vernon L. Smith likes to watch college kids play games.
Willowick Golf Course Key Part of 10Msf Plan
A cluster of Central Orange County cities plan to throw their hats in the ring to get e-commerce giant Amazon’s second headquarters.
Other items of interest Orange County Business Journal Vol. 40, No. 42
The South Orange County Community College District said Interim Chancellor Debra Fitzsimons will retire on Dec. 30.
Nicole Richie Gets Urban Decay Post in the End
Urban Decay Cosmetics LLC in Newport Beach released the first in a series of YouTube videos featuring its latest brand ambassador, Nicole Richie, star of comedic reality shows “Great News,” “The Simple Life” and “Candidly Nicole.”
To Speed Advancement In Back-of-Eye Uses
Irvine-based Aerie Pharmaceuticals Inc. bought the rights to use Envisia Therapeutics Inc.’s PRINT technology for $25 million in cash and Aerie common stock, with additional milestone payment potential.
Top-Floor Lease Follows Tarsadia Deal in Newport
Sunstone Hotel Investors Inc. is the latest hospitality company getting a prime view at one of Irvine Co.’s new area office towers.
Judge Dismisses Counts Against FV Subsidiary
A federal judge dismissed three counts against D-Link Systems Inc. in Fountain Valley levied by the Federal Trade Commission alleging security lapses in its consumer router and IP cameras.
Hitsfu Uses AI for Product Features, Ad Campaigns
A Mission Viejo-based company that helps app developers understand user behavior recently launched.
M&A, Growing Business Lines Highlight Sector
Two big takeovers and a headquarters move to Orange County shook up the local landscape for the largest aerospace and defense contractors with operations here.
Unique Synergies Provide ‘Competitive Advantage”
Siblings tend to know each other’s nuances and have each other’s back.
HEALTHCARE: Hopes to have five products 2018
ECOM Medical Inc. in San Juan Capistrano plans to raise $5 million series B preferred to grow sales of its Endotracheal Cardiac Output Monitor, or ECOM, a system that provides real-time blood-flow information used in post-surgery critical care monitoring. It includes a monitor and a tube that’s inserted through the trachea.
AUTOMOTIVE: Intros app, buyer cooling-off period, more
Worried you may not like your new ride the minute you park it in the garage?
MANUFACTURING: Firm gets first LA Unified bus order
ADOMANI Inc., the first equity crowdfunded company to list on the Nasdaq, has moved its headquarters from Newport Beach to Corona in Riverside County and landed its first contract to build an electric school bus.
REAL ESTATE: Diamond Jamboree owners invest
The land underneath the Newport Beach Tennis Club has been bought by a prominent area retail developer.
The Business Journal’s Deirdre Newman asked Orange County-based general counsels in industries ranging from manufacturing and technology to finance and legal, how they go about choosing outside attorneys to do legal work.
Management Prospects Part of In-House Appeal
While there’s no empirical data to chart a rise in female general counsels in Orange County, several local GCs say they’ve seen an increase over the past 15 years or so.
REAL ESTATE: Contractor takes Money Mailer’s old headquarters
Southland Industries, one of the country’s largest mechanical, electrical, and plumbing systems contractors, is stepping up its presence in its home of Garden Grove.
Customers Seek Advice, Even as Congress Debates
Accelerate deductions, and hold back on the income.
Friday, October 13
Thursday, October 12
The Braille Institute broke ground today on a $10 million center that’s expected to open next fall at 527 N. Dale Ave. in Anaheim.
First Foundation Inc. (Nasdaq: FFWM), an Irvine-based bank and wealth manager, promoted Lindsay Lawrence to a new position of chief operating officer of its banking unit.
Wednesday, October 11
Venture capital investments in Orange County declined to $178 million in the third quarter, the lowest amount since the first quarter of 2016, according to the VentureSource report from Dow Jones.
The South Orange County Community College District said Debra Fitzsimons, interim chancellor, will retire on December 30.
Tuesday, October 10
Worried you may not like your new ride the minute you park it in the garage? No problem, Hyundai Motor America Inc. will take it back within three days of purchase.
Irvine-based Ubiquity, Inc. said Robert Fernander has been appointed chairman of its board of directors.
Monday, October 9
Irvine-based ChromaDex Corp., a maker of ingredients for dietary supplements, hired Kevin Farr as its new chief financial officer, effective immediately.
Autobytel Inc. in Irvine changed its name to AutoWeb Inc. and its Nasdaq stock ticker symbol to “AUTO.”
New Shooter for HQ2 Breaking late. Big Mike tells me a bid’s coming for Amazon’s HQ2, joint bid of Santa Ana, Garden Grove, and perhaps Orange and Anaheim.
Other items of interest Orange County Business Journal Vol. 40, No. 41
Concordia University Irvine President Kurt Krueger will step down on June 30 at the end of the academic year.
Competition for Students Results in Fewer Applications
Southern California schools with MBA programs showed a slight decrease in the number of Southern California enrollees, down about 2% from a year ago, based on the Business Journal’s annual survey. The number of enrollees dropped from 12,418 in September 2016 to 12,171 last month. It was a smaller drop than that reflected on last year’s list, when there was an approximate 6% change from September 2015 to September 2016.
Ed Classes’ Flex Seating Mirrors Real World
Walk into one particular School of Education classroom at Concordia University Irvine, and this is what you’ll see: individual student seats that have six wheels on a wide, round base, a type of seating that allows them to swivel and be arranged in various configurations. It’s key in what’s known as an active-learning classroom.
UCI Retools MBA Courses To Answer Disruption Trend
Disruptive innovation has been called the most influential business idea of the early 21st century.
Commitment Over Beer Helped Make It Happen
Chapman University alumnus Dale Fowler and his wife, Sarah Ann, were hosting Chapman President Daniele Struppa and his wife, Lisa Sparks, dean of the university’s School of Communication, at Lismore Castle in southern Ireland in July 2016. While sitting in the ancient rooms in the shadow of portraits of esteemed scientists, such as Robert Boyle, the couples shared a pint of Guinness as they talked about Chapman’s future.
RETAIL: Thriving photography business in age of selfies
Bradford Rowley started his photography business in the late 1980s, when one-hour photo processing was the speediest way to share memories. Nowadays, despite the glut of selfies overtaking our social media feeds, his portraiture remains relevant—and lucrative.
12-Year-Old Skateboard Innovator Got Lots of Support
A few years ago, 12-year-old Carson Kropfl and his parents met one of the executive producers of the entrepreneur pitch show “Shark Tank” in an elevator in Mammoth.
Veritone Drops in Half After Tweet by Famous Short Trader
A Wall Street brawl has erupted over high-flying Veritone Inc. (NASDAQ: VERI) in Costa Mesa.
Millions in Upgrades; New Seating Options
Multimillion-dollar upgrades at Honda Center during the off-season were in clear view for Anaheim Ducks fans as they walked through the turnstiles of the south entrance before last Thursday’s home opener against the Arizona Coyotes.
LEED Creds, Water Savers, Solar Panels, More
Luxury homebuilders in Orange County are incorporating resource-efficient amenities that are not only practical, but also strong selling points for buyers with a heart for conservation.
Microsoft Partner Absorbed by IT Provider
Irvine fast grower Xelleration LLC will gain access to new markets and regions with its recent sale to Albuquerque-based IT services provider Speridian Technologies.
DraftCard Makes Sharable Cards for Student Athletes
A new app enables student-athletes to create online trading cards, like baseball trading cards that can be shared through social media. Newport Beach-based DraftCard Inc. was founded by Chris Burget, Kristin Currey and Bob Peterson.
Shea Properties Sells Site To Brookhollow Group
Shea Properties has sold one of two large offices it built and owned at its 40-acre Vantis mixed-use campus in Aliso Viejo.
Retail, Hotels, Marina in Project’s 7-Year Plan
Three of Newport Beach real estate firm shave been tapped to head the redevelopment of Dana Point Harbor, a mixed-use project projected to cost nearly $300 million to build new restaurants, shops, hotels and other waterfront properties.
Irvine Brand Riffing Off Of #IMOVEME Slogan
SICS America Corp. is sponsoring several experiential marketing initiatives at the upcoming Festival of Fitness in San Francisco, hosted by Virgin Sport USA LLC in New York.
Seniors Poised to Be Quarter of OC Population
Orange County’s population is 3.2 million, and 13.5% of residents are 65 and older, a segment projected to double by 2040, according to a report by Orange County Healthy Aging.
Based in Irvine Office Of CRE Brokerage
Cushman & Wakefield Inc. has named a former executive of Irvine-based auction firm Ten-X LLC to run its Orange County and Inland Empire offices.
Roland Sands Designs 1st Moto Beach Classic
Roland Sands’ perfect day at the beach includes surfing, punk rock and reggae beats and of course, motorcycle racing.
HEALTHCARE: To go from 1 to 5 products
Aliso Viejo-based OrthAlign Inc. believes it’s positioned for growth with a new management team in place and fresh capital.
Sales and leases of offices, industrial buildings, retail space and apartments
Saeid Danesh sold a research and development building in Rancho Santa Margarita to Jeffrey Margolis and Christopher Golden for $2.3 million, or $240 per square foot.
HEALTHCARE: To move to San Clemente ReShape office
Orange County’s robust medical device scene will soon welcome a new addition from St. Paul, Minn.: EnteroMedics Inc.
HEALTHCARE: Growing after buyback, launches dental plan
A turnaround story is nice, but it’s even better when you have the original players back in the game for round two. Irvine-based Smile Brands Group Inc., with Chief Executive Steve Bilt back at the helm, is shopping for dental practices.
REAL ESTATE: Student housing a focus for $1.1B REIT
Ladera Ranch-based SmartStop Asset Management LLC, one of the country’s most active investors in the self-storage industry, is looking to tackle a new sector of the real estate market: student housing properties next to schools with big football programs.
Friday, October 6
Smead Manufacturing Co. Inc. bought U Brands LLC on undisclosed terms.
Thursday, October 5
Anniversaries are good for giving. On the silver anniversary of South Coast Plaza’s Harvesters Fashion Show in the golden-anniversary year of the mall, the show took in more than $1 million.
Wednesday, October 4
Concordia University Irvine President Kurt Krueger will step down on June 30 at the end of the 2017-18 academic year.
Irvine-based Alorica Inc., the world’s third-largest provider of customer service solutions and the largest in the U.S., announced the appointment of Cindy Fiorillo as chief financial officer, replacing James Molloy.
Tuesday, October 3
St. Paul, Minn.-based EnteroMedics Inc. acquired ReShape Medical Inc. in San Clemente for $61 million cash and stock.
Allergan PLC received Food and Drug Administration approval to use Botox to temporarily reduce moderate to severe forehead lines.
CareTrust REIT Inc. of San Clemente completed a two-stage acquisition comprised of seven skilled nursing facilities in Idaho.
A majority of Orange County-based automakers beat the national sales pace for new vehicles in September, according to New Jersey-based market researcher Autodata Corp.
Monday, October 2
The 12-year-old creator of a skateboard that fits into school lockers and backpacks received a $65,000 investment from Sir Richard Branson for a 20% stake in a company he created with his parents on the season premiere of “Shark Tank,” last night.
HEALTHCARE: Approach that helped him now for sale
Hiep Tran built and sold a payment-processing business, a profitable venture he says cost him his health.
REAL ESTATE: $232M combined price for recapitalization
Laguna Hills-based Muller Co., in a recapitalization deal valued at nearly $232 million, has brought on a new financial partner for three area high-rise offices it owns and operates.
Monday. Lunch with Ed. Meeting The Great Ed Thorp is meeting Kareem (sky hook) or Jerry (Grateful Dead) or Steve (iPhone).
The recent hurricanes that hit Texas and Florida may cause a 5% to 10% bump in premiums during the next 18 months, predicted Tom Corbett, chief executive of Alliant Insurance Services Inc., the biggest insurance broker in Orange County.
25 Firms Report Strong Growth for Fifth Year
Orange County’s largest insurance brokerages continued solid growth as local revenue climbed above 7% for the fifth straight year.
Alliant Now 12th Largest Insurance Broker in World
Tom Corbett says people often consider his business dull.
TECHNOLOGY: Some insiders sell; sales stay hot in hot ‘BI’ space
Life in the public eye got intriguing for one of Orange County’s best tech stories in years, Alteryx Inc., the Irvine software maker that made a splashy Wall Street debut in March.
Veteran Business Journal Dining Columnist Retires
Retirement from one’s occupation is expected eventually, and I’ve been thinking for a while about mine.
ECONOMY: CSUF survey still shows high optimism
A higher percentage of Orange County businesses intend to invest in more equipment and hire more employees in the fourth quarter, according to the latest Orange County Business Expectations Survey by California State University-Fullerton.
Olson’s Lido, Irvine Hotels Prep to Open
A mid-September tour of the under-construction Lido House Hotel in Newport Beach has turned into an impromptu architectural design review for Bob Olson.
EDUCATION: Keck puts imprimatur on university
The Keck name comes with a lot of prestige. There’s the Keck School of Medicine at the University of Southern California, the Keck Institute of Space Studies at the California Institute of Technology in Pasadena, and the Keck Graduate Institute of Applied Life Sciences, part of the Claremont Consortium undergraduate and graduate schools in Claremont.
Other items of interest Orange County Business Journal Vol. 40, No. 40
An outdoor amphitheater that will temporarily replace the former Irvine Meadows is scheduled to open this weekend next to Great Park in Irvine.
Sales and leases of offices, industrial buildings, retail space and apartments
Nakwon America Inc. sold a freestanding retail strip center in Anaheim to Eric Choi for $3.8 million, or $238 per square foot.
Accelerate Change Together Anaheim is granting nearly $1 million this year to help organizations meet the rising needs of Anaheim youth impacted by poverty, academic challenges and limited opportunities.
REAL ESTATE: Peter’s Landing sells for $33M
Peter’s Landing Marina, a retail and office property on Pacific Coast Highway overlooking Huntington Harbour, is in line for a makeover after being acquired by an upstart investment firm in Irvine.
HEALTHCARE: Hancock Jaffe needs FDA OK; low on cash
Hancock Jaffe Laboratories Inc. quietly filed for an initial public offering last month, an unusual move for a developmental-stage company. It intends to raise $15 million.
REAL ESTATE: 500 acres in SoCal; nearly $74M price cited
Orange-based wholesale and retail plant and tree growing business Village Nurseries, which owns more than 500 acres in Southern California, is nearing a court-overseen sale to a Texas-based firm.
Shares Up 39% as It Strikes Deals, Gets Props
Wall Street in about the past month is liking the story of artificial intelligence and media firm Veritone Inc.
ProSky to Use Job Board Network to Reach 25M
An Irvine company that developed a human resources platform for hiring and managing employees has partnered with a tech recruiting firm that uses artificial intelligence.
Campus-Centric Target Store Opened in Summer
Irvine Co. has landed Amazon after all.
Processor Board Suggests Sexy Pairings
The California Milk Processor Board’s newest installment of the “Food Loves Milk” campaign is a heartbreaker, but in a good way.
Activities Being Driven By Reimbursement
Genetic testing isn’t yet the go-to for identifying a patient’s risk for conditions such as cancer and Alzheimer’s disease—insurers generally cover a genetic test only if there’s strong scientific evidence it could provide a health benefit and is recommended by the patient’s doctor—but the industry has grown faster with advanced genetic-risk understanding and improved reimbursement.
HEALTHCARE: Buys REIT; to sell underperforming operator
Sabra Health Care REIT Inc. packed a lot of news into the past two weeks, including two acquisitions and one disposition.