Stories for November 2018

Friday, November 30

Midday Stock Roundup

The S&P 500 rose 0.3% in midday trading to 2,745.53.

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Thursday, November 29

Obsidian, InXile Join Microsoft Games Juggernaut

GAMING: Software giant buys independent OC studios

Microsoft Corp.’s new quest to become the Netflix of video game streaming and original content picked up steam and talent with the recent buy of two local independent studios.

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OC 500: Anthony Moiso

OC’s second-largest landowner, masterplanned community developer … final South County MPC: 14K-home Rancho Mission Viejo … priors: Mission Viejo, Las Flores, Rancho Santa Margarita, Ladera Ranch … working ranch grows citrus, drives cattle … annual trail ride draws notables locally, beyond … U.S. Army infantry … backs Mission San Juan ... Business Journal OC 50

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Midday Stock Roundup

The S&P 500 was down 0.1% to 2,740.51.

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AC Hotel GM Heads South

AC Hotel Irvine General Manager Paul Maddison was named to the same post at Estancia La Jolla Hotel & Spa, and Irvine-based Pacific Hospitality Group, which runs both properties for investor groups it participates in, will hire a new GM in Irvine.

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WeWork’s OC Base Grows to 5 Coworking Locations

Spectrum, Costa Mesa Get 2nd spots

New York-based coworking giant WeWork Inc. has added two more prominent Orange County locations to its quickly expanding local portfolio, which now includes five existing and coming office spots that top 200,000 square feet combined.

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OC 500: Augie Nieto

Entrepreneur built, sold two fitness firms … Life Fitness to Brunswick 1997; Octane Fitness to Nautilus 2015 … raises money to fight amyotrophic lateral sclerosis—Lou Gehrig’s disease, which Nieto diagnosed with in 2005 … Chief Inspiration Officer ALS Therapy Development Institute … ‘not incurable; underfunded,’ Nieto says … given name Augustine … lives CdM, wife, Lynne, kids, grandkids … 2017 documentary ‘Augie’ made film fest rounds, directed by James Keach

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Wednesday, November 28

Crown Castle Enters OC Market in Big Way

TELECOM: OC jump hints at wireless potential

Rod Hanson wants to make sure your next-generation wireless devices will be able to connect to the internet super-quickly in Orange County—what’s known as 5G.

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OC 500: Larry Higby

Resume: Unocal, Times Mirror, PepsiCo … ex-asst. Bob Haldeman, Nixon White House … UCLA poly sci grad; left MBA studies for 1968 Nixon campaign … cofounder, former chairman, New Majority (see Gary Hunt, Tom Tucker) … former chairman, Segerstrom Center (see Terry Dwyer) … backs Brandman University (see Gary Brahm), South Coast Rep (see Paula Tomei) … corporate boards … wife, Dee

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Midday Stock Roundup

Indexes spiked higher in midday trading on comments by Federal Reserve Chairman Jerome Powell that interest rates are near-neutral, neither spurring nor hindering economic growth.

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Tuesday, November 27

Fresh Marketing for El Pollo Loco

Costa Mesa-based El Pollo Loco Holdings Inc. (Nasdaq: LOCO) named Hector Muñoz chief marketing officer ahead of an expected spring 2019 relaunch of the brand.

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Midday Stock Roundup

The S&P 500 was down about 0.2% in midday trading to 2,668.37.

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Opus CEO Resigns

Opus Bank (Nasdaq: OPB), the third-largest Orange County-based bank by assets, said Chief Executive and President Stephen Gordon resigned.

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REIT Transformer

HCP’s GC Oversees Corporate Reinvention

It’s not uncommon for a person to quote an inspiring leader—Lincoln, Gandhi or even Vince Lombardi—during an acceptance speech.

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OC 500: Ralph Stern

Started, sold, two health-dental ventures … dental-implant maker Steri-Oss led to launch DenCharge: private-label credit … Steri-Oss went to Bausch & Lomb … DenCharge added LASIK, pet-care, aesthetics; became CareCredit sold to GE Capital, spun off as part of Synchrony … Sterns gave UCI $5M, Sue and Ralph Stern Center … cancer research, clinical trials, part of UC Irvine Health … also Brandman, Girls Inc., South Coast Rep, Jewish Federation

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Monday, November 26

Midday Stock Roundup

The S&P 500 was up 0.9% in midday trading to 2,755.75.

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Kofax CEO Explains $400M Document Imaging Buy

TECHNOLOGY: Bish’s patience leads to biggest catch

It took Reynolds Bish six years to catch his biggest fish.

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OC 500: William F. Podlich III

Started Pacific Investment Management Company, 1971, with Jim Muzzy, Bill Gross (see entries) … later launched twin programs for scholarship, grad study, UCI, alma mater Claremont McKenna College … distinguished fellows, CMC … UCI Fellowship on Democracy … late father, ASU prof., Bill Jr., spent two years, Afghanistan, UNESCO trip, teaching, taking photos … first published: Denver Post; now at Radio Free Europe/Radio Liberty website

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Mophie Execs Start Smartphone Biz

INNOVATION: $2.5M for Costa Mesa’s Nimble

Costa Mesa-based Nimble, a newly formed maker of what it’s promoting as sustainably made smartphone accessories, has raised $2.5 million to help fund growth.

Stillwater, CrossHarbor Add Orange Biz Park to Mix

$18.6M Buy as Duo Nabs Glaukos for AV Campus

It’s been an active few weeks for Newport Beach-based Stillwater Investment Group, a privately held investor in office, industrial, apartment and retail properties that’s been operating since 2014.

No Jetlag for Too Faced at New JFK Airport Store

Irvine’s Estée Lauder Unit Sells to Travelers

Beauty on the go is the next frontier for cult beauty label Too Faced Cosmetics LLC based in Irvine.

Alignment Healthcare Offers Seniors Concierge Care

January Launch For Medicare Advantage

Orange-based Alignment Healthcare is a little more than a month from introducing a first-of-its-kind concierge program for seniors with Medicare Advantage insurance coverage.


Fast-growing fintech firm Acorns Grow Inc. is seeking another funding round that would vault the 6-year-old Irvine-based company’s valuation to $700 million, according to news reports.


More than 300 guests gathered on Sept. 22 at Balboa Bay Resort in Newport Beach to say, “Bon Voyage!” to domestic violence at the 24th annual Laura’s House gala, which was themed “Ports of Call” this year.

Edwards Legal Team Balances Control, Support

Goal to Be Guardian of Company

Irvine-based medical device giant Edwards Lifesciences Corp. (NYSE: EW) doesn’t plan to stop investing in its portfolio of cutting-edge, life-saving products, and its team of about 30 attorneys in the U.S. and abroad is aligned with its patient-first mission.

Marketing Firm’s GC Advantage

Larson Cuts Employee Case Settlements 90% as Headcount Triples

Indiana native Bruce Larson has spent his professional career in Orange County—thanks to his parents.

ABM’s Jue Takes Multi-Tasking to New Level

Assistant GC ‘Loves Being a Lawyer’

When Stacey Jue began her career as a lawyer, she was advised to prepare herself to make a lot of sacrifices.

Full Spectrum of Roles

Bokota Juggles Job With IUSD Board Duties

Paul Bokota wears a lot of hats outside of his day job as vice president and division general counsel for Spectrum Brands Inc. in Lake Forest.

OC Consumers: ‘This Is as Good as It Gets’

ECONOMY: Sentiment index dips from 100 to ‘still-high’ 97

Orange County consumers are losing a little of that bullish feeling.

Emerald Expositions CEO Departs; Stock Price Dips

TRADE SHOWS: $45M buy tops for this year

Emerald Expositions Events Inc. (NYSE: EEX) is spending plenty of green, and its in-flux executive team thinks the aggressive growth strategy the trade show operator has undertaken over the past few years is still the best course.

An Unfailingly Polite Acquisition

It was to be expected that Irvine-based Cylance would garner attention of potential suitors; the 6-year-old cybersecurity company has recently been one of the local tech community’s big success stories, reporting about $130 million in sales last year, up 90% year-over-year.

Real Estate Deals

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

Son T. Nguyen purchased a retail fast-food building from Nathan Russi for $2.6 million, or $1,012 per square foot.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 48

The parent company of Carl’s Jr., which was originally headquartered in Anaheim, is now leaving the city for good.

OCBJ Calendar

Nov. 26-Dec. 5, 2018

This week's business and other event listings.

Universal Electronics Announces New AI Remotes

Ducommon Sales Up 15%; Diablo Fans Mad as Hell

It’s earnings season, and here’s a snapshot of the most recent quarterly performances and outlooks of several local technology companies traded on the big boards.

Friday, November 23

Midday Stock Roundup

Markets closed early on the day after Thanksgiving.

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OC to Be Home to Another Asian Carmaker’s US Arm

AUTOMOTIVE: Zotye sets up in Lake Forest

Chinese carmaker Zotye Automobile International Co. plans to use a new Lake Forest-based distribution company to sell vehicles in the U.S. by 2020.

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OC 500: Gen. William Lyon

On OC’s unofficial Mount Rushmore … giants in the land: Bren, Segerstrom, Argyros, Lyon … commanded USAF reserves … built his first homes, Fullerton … stepped down from board having built 100K countywide, elsewhere … backs veterans, OC Rescue Mission … with Bill Steiner started privately funded Orangewood: children, family services … part of car collection now at 30K SF air museum near JWA … Business Journal OC’s Wealthiest

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Wednesday, November 21

Taco Bell Bangkok in Early 2019

Taco Bell’s Thailand franchisee plans to open its first location in Bangkok by early next year, local news reports said.

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Midday Stock Roundup

Indexes recovered in midday trading after two days of declines.

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Safety in Numbers

Security Staffing Giant Allied Universal May Seek IPO With Snap’s Ex-CFO

Allied Universal made a $1 billion buy in July to bring its employment to 210,000.

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OC 500: Don Beall

30-year run, defense-aerospace … philanthropy: ‘son, Ken, and I even more involved’ UCI: innovation, cybersecurity … also Hoover Institution, San Jose State, Naval Postgrad School … son, Jeff, L.A. artist-entrepreneur … grandson: Stanford … ‘three wonderful great-grandchildren’ … updating book on Rockwell spinoffs … physical therapy after spinal infection— ‘wife Joan … Nurse Ratched’ … ‘anxious to get back to Augusta … local golf gang, Big Canyon’

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Tuesday, November 20

Midday Stock Roundup

Indexes continued declines that began yesterday as a technology sector sell-off continued.

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Monday, November 19

New Editorial Leadership At Business Journal

The Orange County Business Journal is making changes to its editorial department.

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OC 500: Gavin Herbert Sr.

Father founded pharma firm 60+ years ago … Gavin joined 1950s … focus on eye care when doctors noted patient complaint of ‘itchy, scratchy eyes’ … Botox originally for crossed eyes, ‘started as something we thought might do ... $10M’ … helped design UCI ophthalmology program, build eye institute … with wife, Ninetta, has backed eye research for decades with millions … ex-Navy corpsman … avid sailor

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Blackberry’s $1.4B Bet on Cylance Security

TECHNOLOGY: Shock sale of high-flying Irvine Co.

Cylance Inc. has grown into one of the most trusted names in software security, and a deep-pocketed buyer in the midst of a big corporate reinvention has taken notice.

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JWA Traffic Ticks Up; JetSuiteX Takes Off

September passenger traffic at John Wayne Airport was up 0.4% year-over-year to 857,000 while commercial flights were down 0.7% to about 3,800 for the month.

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Midday Stock Roundup

Stock markets were in a broad retreat today as tech and financial shares plunged. The S&P 500 fell 1.6% in midday trading to 2,690.37, the Dow Jones Industrial Average 1.8% to 24,949.28, and the Nasdaq 2.9% to 7,034.35.

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No Incentives, No Problem: Radisson Blu Work Starts

HOSPITALITY: 12-story project a mile from Disney

A contentious political climate in Anaheim over the past few months hasn’t stopped every high-end hotel project in the city from moving ahead.

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OC 500: William S. Thompson

Seeded 20K SF Thompson Autism Center at CHOC via $10M … gift of William and Nancy Thompson Foundation, founded ’07 … 35 year-run, Salomon Bros., then Pacific Investment Management Co. (see Bill Gross, Jim Muzzy, Bill Podlich) … 8 years Citi board capped finance life … Harvard MBA

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4-Floor CdM Home Under Construction Asks $20M

New Wellness Package First of Its Kind in OC

A soon-to-be completed bluffside home in Corona del Mar overlooking Newport Harbor is on the market with an asking price of $20 million.

Rocket Lab Raises $140M As Value Soars Above $1B

Hot HB Firm Picks Va. For First US Launch Pad

Huntington Beach-based aerospace manufacturer Rocket Lab selected NASA’s Wallops Flight Facility on the eastern shore of Virginia as its first U.S. launch pad.

Ubiquity’s Former HQ in Spectrum Gets New Tenant

CBD Products Maker Growing Fast

Medterra, a Laguna Hills-based maker of cannabidiol oil and other CBD-related healthcare products that started operations last year, is taking a more prominent location in the Irvine Spectrum.

Local Carmakers Ramp Up Latino Marketing Efforts

New Campaign to Tune Of Unique Mariachi Song

Two of Orange County’s top automakers—Kia Motors America and Mitsubishi Motors North America Inc.—are seeking to boost sales in the Latino market with new ad campaigns.

Viseon Gets FDA Nod for Surgical Imaging Device

Masimo Grows Pediatric Blood-Monitor Offerings

Irvine-based Viseon Inc., a year-old maker of minimally invasive spine surgery technology, has received regulatory approval of its first product.


Irvine-based Mind Brain Parenting is leading the conversation on social-emotional learning.

OC’s Biggest Bosses Increase Employment 1.4%

More Local Companies Add Rather Than Subtract

Disneyland, despite all its well-publicized labor problems, once again retained the title of Orange County’s largest employer with 30,000 workers, based on the Business Journal’s annual list of biggest employers.

Wanted: Best Places to Work for OCBJ’s 2019 Annual List

CALL FOR ENTRIES: Website to take entries through March 1

Is your workplace great?

Location Is All For ASP Provider

INNOVATION: Size ‘M’ for cloud-based Locate

Laguna Hills-based application service provider Locate Inventory is growing with new office space, a new chief operating officer, and plans to double sales next year while also raising $5 million.

Neurolens Takes the Pain Out of Digital Reading

HEALTHCARE: Seeks $15M Series D; hiring

If you get a headache reading this story online, don’t blame Neurolens.

Investors Pay $230M for Pair of San Clemente Rentals

REAL ESTATE: Two of city’s three top sites sell

Institutional investors have bought two of the three largest apartment complexes in San Clemente in separate deals valued at about $230 million combined.

Always Be Humble And Sing

So saddened by the news of the passing of my friend, Orange County Business Journal family member Patrick Chao, this past Tuesday.

Axonics IPO Gets Wall Street Charge

HEALTHCARE: $130M+ IPO will fund hiring spree

Axonics Modulation Technologies’ Oct. 31 initial public offering came at the end of one of Wall Street’s worst months in stock performance in recent memory.

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Device Maker Glaukos Moving HQ to Aliso Viejo

REAL ESTATE: 3-office lease biggest in OC in 2018

Fast-growing medical device maker Glaukos Corp. is moving its headquarters from San Clemente to Aliso Viejo, after striking the largest office lease of the year in Orange County.

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Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 47

The Business Journal honored four attorneys and one legal team at its annual General Counsel Awards dinner on Nov. 13 at Hotel Irvine.

Real Estate Deals

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

Aliza-Abootorab Family Trust purchased a manufacturing building from Warlaumont Family Trust for $1.6 million, or $303 per square foot.

OCBJ Calendar

Nov. 19-28, 2018

This week's business and other event listings.

Friday, November 16

Let’s Make a Deal

Cybersecurity leader Cylance gets an offer it can’t refuse; Aliso Viejo lures device-maker Glaukos to new and bigger digs; Orange-based Allied Universal could be readying a big IPO for 2019.

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Midday Stock Roundup

The S&P 500 rose 0.3% in midday trading to 2,738.43.

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Unemployment Up to 2.9%

Orange County’s unadjusted unemployment rate rose to 2.9% in October from a revised 2.8% in September and down from year-ago estimate of 3.2%, according to the state Employment Development Department.

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Philanthropy Day Honors Zhangs, Ueberroths

OC’s chapter of the Association of Fundraising Professionals honored nine of the county's outstanding givers at the annual National Philanthropy Day luncheon Thursday before a crowd of 700 at City National Grove in Anaheim—part of a day of recognition, nationwide.

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Fandom of the Opera

Paul Musco Built Gemini Industries Into Powerhouse; Now He Uses Profits to Spread Love of Arts

On a Monday evening in early October, Sebastian Paul Musco spent a few hours doing what he loves—watching his friend Plácido Domingo perform at his award-winning Musco Center for the Performing Arts at Chapman University.

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OC 500: Zee Allred

With late ex-husband, Marvin, Arizona émigrés, chem majors, launched watertesting venture … turned $500 loan into $100M pool products co. … Chapman champion … funded school’s Allred Aquatics Center; honorary doctorate, humane letters … world traveler: all continents, 50+ countries … backs Segerstrom Center, CHOC … Business Journal Women in Business Lifetime Achievement, 2014

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Thursday, November 15

Buena Park Group in Hotel Deal

Harbor Hotels LLC, an Arizona family investment group affiliated with Cornerstone Hotel Group LLC in Buena Park, bought the Courtyard by Marriott near Long Beach Exchange, a shopping and entertainment development, from Delaware-registered Mach II Chartres Long Beach.

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Wanted: Best Places to Work for OCBJ’s 2019 List

CALL FOR ENTRIES: Website to take entries through March 1

Is your workplace great?

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Next Pendry: Utah, Near Montage

Pendry Hotels plans to build a ski resort in the Canyons Village area of Park City, Utah, about five miles from Montage Deer Valley, a resort run by Pendry sister company Montage Hotels & Resorts.

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SEC Drops Complaint Against Mazzo

The Securities and Exchange Commission is dropping its complaint of insider trading against James Mazzo, former chairman and chief executive officer of Advanced Medical Optics Inc., for allegedly tipping information about his company's acquisition to a friend, former professional baseball player Doug DeCinces.

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Midday Stock Round-up

The S&P 500 was down 0.3% to 2,694.03.

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Former Real Mex Seeks to Reclaim Glory

RESTAURANTS: New name, execs; no debt

The former Real Mex Restaurants Inc. has a new name, chief executive and owner. It also has fewer locations and no significant debt.

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OC 500: Raj Bhathal

Born in India … bachelor’s engineering, South Dakota; MBA, Arizona … engaged from age 2 to marry Indian woman he’d never met; married Marta from NB instead … founded swimwear co., $5K loan from Marta’s mom … joined $535M buy, holds stake in NBA Sacramento Kings … kids Lisa, Alex, bought out Raj, Marta in 2007; Swander Pace Capital, Goldman Sachs … Lisa daughter-in-law to Paul Merage (see entry)

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Wednesday, November 14

Midday Stock Roundup

The S&P 500 fell 0.5% to 2,709.38.

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General Counsels Honored

A crowd of more than 400 members of Orange County’s corporate and legal communities gathered to honor this year’s top in-house lawyers at the Business Journal’s ninth annual General Counsel Awards.

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ConversionPoint Buys AI Firm; Plans to Go Public

TECHNOLOGY: Ad services company grows fast

ConversionPoint Technologies Inc. made quite a statement last week.

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OC 500: Paul Folino

Chairman, CoreLogic Inc., Commercial Bank of California … PGA Hoag Classic chair … backs: CSUF, Chapman, Discovery Cube, Mind Institute, Segerstrom Center, South Coast Rep … Gave $10M naming gift, SCR; transferred naming to founders … wants to meet Jim Whittaker, first American to scale Everest: ‘both in West Seattle H.S. Hall of Fame’ … can’t-miss social event: wife Margo’s birthday

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Tuesday, November 13

Select Interior 3Q Sales Up 35%

Select Interior Concepts Inc., an Anaheim-based building products and services company, reported third quarter sales increased 35% to $127.6 million from the same period a year earlier.

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Midday Stock Roundup

The S&P 500 fell 0.3% to 2,734.92.

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Olenicoff Makes $169M Push in Atlanta, Nashville

REAL ESTATE: Says OC deals becoming harder to find

Igor Olenicoff, Orange County’s second-wealthiest businessperson, doesn’t plan many local real estate acquisitions in the current frothy market.

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OC 500: Anthony Maglica

Famed Maglite intro 1979 … award-winning, iconic look, heft … born 1930 in NYC, raised in Croatia … founded firm in 1955, ‘one-man machine shop … rented garage’ … now employs hundreds in U.S., incl. vets ... still active … 200th patent, 2018 … Business Journal OC’s Wealthiest

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Monday, November 12

Kofax Buys Unit for $400M

Irvine-based Kofax Inc. is paying $400 million in cash to obtain the document imaging division of Nuance Communications Inc. (Nasdaq: NUAN).

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Cylance Being Sold for $1.5B?

Irvine’s Cylance Inc. may be sold to BlackBerry Ltd for as much as $1.5 billion, according to a Business Insider report that cited unidentified people familiar with the matter.

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Allied Universal Names CFO

Santa Ana-based Allied Universal, the largest U.S. security firm, named Andrew Vollero incoming chief financial officer to replace Bill Torzolini, who retires next year after 15 years in the role.

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Midday Stock Roundup

U.S. stocks posted a broad decline led by technology stocks. The Nasdaq dropped 2.5% to 7,221.92; the S&P 500 fell 1.6% to 2,735.18; and the Dow Jones Industrial Average declined 1.9% to 25,503.98.

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Gold-Plated Push

TYR Olympic Plans Begin With String of Endorsement Deals

The 2020 Summer Olympics in Tokyo may be 19 months away, but Seal Beach-based swim and sportswear manufacturer TYR Sport Inc. is already putting in the work in order to walk away with a number of gold medals.

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OC 500: Jim Muzzy

Member of founding troika, with Bills Podlich and Gross (see entries) … headed clients; Podlich, operations; Gross, investments … retired 2009, founded family office MZ Partners … board service incl. Bixby Land, alma mater U of Arizona … entered in engineer, emerged in econ, then MBA … active military duty, then Air National Guard … backs South Coast Rep, Hoag … wife, Pamela, three kids, seven grandkids

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Startups & Innovations

Aura Accounting Solutions is a new firm in Irvine offering startups and other small companies their own chief financial officers.

Revised Site Plans For Five Lagunas Under Wraps

REAL ESTATE: Still on hiatus; no new details yet

Merlone Geier Partners hasn’t abandoned South Orange County’s retail scene. In fact, it’s expanding its area presence around the Five Lagunas mall, its best-known property there.

Double Shot of Hotel Development

Dual-Branded Model Makes Local Inroads

Hotel developers in and around Orange County are seeing double.

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A CEO’s Tell

My first month as editor, I had lunch with Alteryx Inc. CEO Dean Stoecker.

OC’s Healthcare REITs Buck Wall Street, See Gains

FINANCE: HCP, others on growth path

Orange County’s four largest publicly traded healthcare-focused real estate investment trusts and service providers largely emerged unscathed from October’s Wall Street bloodbath.

Buena Park’s Rael Lands Top Investors

INNOVATION: Feminine care lines’ raises $17.5M

Buena Park-based startup Rael Inc. picked up significantly more interest from investors last week.

New Mobile Offering Takes Center Stage at Blizzcon

‘Diablo’ Game Under Watch of New President

Blizzard Entertainment Inc. will release its first multiplayer, action role-playing video game for mobile devices in another evolutionary turn for the Irvine-based publishing giant.

BioLargo Tries Reverse Split, Seeks $7.5M, Nasdaq

MANUFACTURING: CEO says problems nothing new

BioLargo Inc. (OTC: BLGO), the largest publicly traded company in Westminster, is in the business of getting rid of bad odors at landfills.

Local Auto Dealers Continue Sales Increase Streak

OC-Based Automakers, Meanwhile, Up Workforce

Orange County’s largest auto dealers reported their seventh straight year of increased sales.

Top Retailers Turn Tide on Online Competition, Up Sales

$8.6 Billion at Top 37 Shopping Centers in OC

Redevelopment and reinvention appears to be paying off for Orange County’s largest shopping centers.


Tilly’s Life Center held its fourth annual I Am Giving Gala at the Yost Theater in Santa Ana. The event benefitted the center’s social and emotional learning program.

Agendia Gets Notable Nods for Cancer Gene Test

NCCN, ASCO Approvals Coincide With New Funds

Agendia Inc. is making headway in oncology diagnostics.

Dana Point Harbor’s Revamp Team Gets to Work

66-Year Lease Kicks Off For Est. $338M Project

The development “dream team” tasked with revitalizing Dana Point Harbor now has the keys to the nearly 300-acre waterfront site in South County, part of which will become one of the region’s largest commercial development sites over the next few years.

New Asics Ad Campaign Plays to a Different Beat

Footwear, Apparel Brand Taps DJ Steve Aoki, Others

The latest iteration of the “I Move Me” North America campaign for Asics America Corp. debuted two weeks ago, once again featuring Grammy-nominated producer/DJ Steve Aoki.

IT Provider Impact Opens Anaheim Store, Sponsors Ducks

Skyworks in CityTouch; Crowdstrike $3B+ IPO

An Illinois-based IT service provider’s aggressive expansion in Orange County includes a showroom in Anaheim and a sponsorship deal with the Anaheim Ducks and Honda Center.

OCBJ Calendar

Nov. 12-21, 2018

This week's business and other event listings.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 46

Orange Coast College named Kevin Ballinger interim president as it searches for a permanent replacement for retiring President Dennis Harkins, who’s departing at the end of the fall term.

Real Estate Deals

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

Indulge Lifestyle LLC purchased a medical building from Sungjin Park for $979,000, or $356 per square foot.

Friday, November 9

Vying for Gold

How Surf City sportswear designer TYR is making its push for the medal stand; why Igor’s latest real estate deals are in the Southeast and the song remains the same for opera-loving, industrialist Paul Musco.

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Midday Stock Roundup

The S&P 500 declined 1.1% in midday trading to 2,774.09.

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Trace3 Teaches Techies to Think Like CEOs

TECHNOLOGY: Year two of UCI partnership

Trace3 Inc. Chief Executive Tyler Beecher is betting his company can turn CTOs into CEOs.

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OC 500: Julie HIll

Trailblazer … development-construction career: Costain Homes, Hiram-Hill Dvlpt., Hill Cos. … Henry Samueli (see entry) wanted Hill on Qualcomm board if Broadcom bought; ‘gives me street cred with my son’ … Pelican Hill retreat brought UCI deans literally to same table … boards: insurer Anthem; NJ-based investors Lord Abbett & Co. … keynoted Business Journal Women in Business 2018 … first job: babysitter; first car: used, red VW … bucket list: travel

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Thursday, November 8

AutoWeb Q3 Revenue Down, Stock Slides

AutoWeb Inc. (Nasdaq: AUTO), an Irvine-based marketing firm for automakers and dealers, reported a third quarter loss of $18 million, or $1.41 per share, compared to net income of $69,000 a year ago.

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Skyworks Shares Down on Guidance

Shares of Skyworks Solutions Inc. are down after the chipmaker provided December quarter revenue and earnings targets below Wall Street expectations.

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Disney Resorts Q4 Revenue Up 9%

Walt Disney Co.’s parks and resorts division, which includes Anaheim’s Disneyland Resort, said fourth quarter profit climbed 11% to $829 million as revenue rose 9% to $5.1 billion from the same period a year earlier.

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OCC: Interim In As Harkins Retires

Orange Coast College named Kevin Ballinger interim president while it searches for a permanent replacement for retiring President Dennis Harkins.

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OC Hotel Occupancy Dips in September

Several Orange County hotel submarkets in September showed lower average daily rates and revenue per available room year-over-year, and five of seven showed lower occupancy, which also fell countywide to 77% from 80% for the same month last year.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,809.78.

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Life Science Startups Take Center Stage

INNOVATION: OCTANe hosts LaunchPad event

Eight healthcare-focused companies, including two based in Orange County, presented at OCTANe’s annual Medical Technology Innovation Forum last week at the Newport Beach Marriott Hotel & Spa.

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OC 500: James Doti

Also econ prof … as president for quarter-century,led sleepy Old Town college to ‘USC of OC’ … keen economist, created annual forecast with late Essie Adibi … nabbed $21M Keck Foundation science grant as presidency moved to Daniele Struppa (see entry) … boards: Whittier Trust, First American … keeps chickens, Villa Park home, with PhD, banking-expert wife, Lynne … first job: accountant, Chicago … favorite teams: ‘Chapman Panthers, all sports’

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Wednesday, November 7

Alteryx Q3 Revenue Up

Alteryx Inc. reported revenue increased 59% year-over-year to $54.2 million while posting a narrower loss of $244,000, compared to a loss of $3.3 million in the same period a year ago.

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Midday Stock Roundup

All three major indexes increased more than 1% in midday trading in the first session following the midterm elections.

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OC 500: Sebastian 'Paul' Musco

Gives ‘like billionaire, even if he isn’t one,’ says friend Jim Doti (see entry) … prominent in $120M+ campaign for St. Michael’s Abbey, Silverado … 2017 Ellis Island Medal … Gemini recovers spent platinum catalysts for big oil co. clients, including Exxon … lunch legend, center table, Il Barone … Musco Center welcomed Placido Domingo, October; opera legend opened venue 2016 … first car: 1938 Olds; first job: delivering milk early AM … roots for Red Sox

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CommerceWest Finds Niche In Customized Loans

FINANCE: CEO sees stock run-up

Ivo Tjan knew his career path when he was 18.

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Tuesday, November 6

Beacon Pointe Hires UBS Exec

Newport Beach’s Beacon Pointe Advisors, which has more than $9 billion in assets under management, hired Michael Dow, an executive at UBS Global Asset Management, as chief investment officer and chairman of its investment committee.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,751.88.

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Slow Progress On Gender Front

Women Make More Inroads On Public Co. Boards as Law Ups Pressure

Orange County’s most valuable public companies are taking steps to increase the diversity of their boardrooms.

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OC 500: George Argyros

If OC had a Mount Rushmore … Ellis Island Medal of Honor; Horatio Alger award; ambassador to Spain … real estate billionaire ... owned Seattle Mariners; drafted Hall of Famer Ken Griffey Jr. … ’59 Chapman grad … owned AirCal with Gen. William Lyon (see entry); doubled $30M stake … with wife, Julia (see entry), backs Segerstrom Center, CHOC … fixture at Friday jazz jam, Bayside … Business Journal OC’s Wealthiest; OC 50

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Monday, November 5

AVD Sales, Income Up

Newport Beach-based American Vanguard Corp. (NYSE: AVD) reported third quarter sales climbed 24% to $111.8 million while net income jumped 60% to $6.5 million.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,727.06.

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Samueli Finds a New Calling: Healthcare Advocacy

Broadcom Founder Gives Insight Into New Focus

Henry Samueli is best known as the billionaire brains behind chipmaker Broadcom Inc. and the owner of the Anaheim Ducks. Nowadays, the 64 year old with an engineering doctorate, while still committed to his strategic role as chief technical officer at Broadcom, is a healthcare advocate.

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OC 500: Donald Bren

OC’s largest private landowner, property manager … local moves this year: $200M Spectrum shopping center addition, redo … midrise offices rising in same market … current office capacity largely full … Irvine Ranch homebuilding ramped up … charitable giving all-in: $1.3B, excluding preserved land value ... wealthiest on Business Journal OC’s Wealthiest; OC 50

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New Davio’s Delivers Superb Italian Experience

The Best Holiday Wines, According to Area Experts

After three decades at its location on Von Karman Avenue in Irvine, Prego Ristorante closed in February 2017 and moved to The District at Tustin Legacy late last year.

Real Estate Deals

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

Newport Heights Ventures LLC leased a medical office to Eden Fertility Management LLC in an 11-year contract. Terms of the lease were undisclosed.

Firms’ Expansion Slackens

Rate of Asset, Member, Worker Growth Slows

Orange County’s credit unions reported slowing growth in assets, members and employment, based on the Business Journal’s annual list.

OC Banks’ Asset Growth Slows

Report 10% Climb, 28% Jump in Profits

Orange County-based commercial banks’ asset growth slowed to 10% to $37.8 billion for the 12 months ended June 30.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 45

Habit Restaurants Inc. in Irvine named Iwona Alter chief brand officer, a new position.

Q&A: What One Banker Thinks of Fintech

Ash Patel Describes Tools CBC Is Investing In

Tech companies that want to break into what they consider the stodgy, old-fashioned world of banking often don’t understand the one word that means survival in the industry, says OC industry veteran Ash Patel, chief executive of Irvine-based Commercial Bank of California.


Nov. 5-14, 2018

This week's business and other event listings.

SCP Pushes For Quiet Sears Closure

RETAIL: Tries to avoid gaudy liquidation plan

South Coast Plaza is known for luxe shops, exclusive brands and fine dining.

Allergan’s Consumer Push Leans on Big-Data Hires

HEALTHCARE: Taps techies for Irvine ops

The maker of Botox is injecting some big data into its Irvine operations.

New Cliffside Home in Three Arch Bay Asking $39M

Crystal Cove Project Lists For $38M; Another Sells

A cliffside estate in Laguna Beach that was an eight-year remodeling labor of love for owner Mark Hammond and his late wife, Christina, is pocket-listed for $38.9 million.

Acacia Research Takes $5.5M Hit on Veritone Shares

Oculus Co-Founder Iribe Excited for ‘Next Chapter’

Sometimes investing in a neighbor doesn’t work out as planned.

Newport Center Eviction Action Gets National Press

Eagan Avanatti Behind On Rent at Irvine Co. Tower

Newport Beach’s glitzy 520 Newport Center Drive building, which opened in 2014, could soon see its first notable eviction, along with its first big sublease of space.

Chipotle’s New Ad Campaign Pads Its Bottom Line

‘For Real’ Strategy, Extra Guac Help Drive Sales 4.4%

Chipotle Mexican Grill Inc. (NYSE: CMG) is seeing real results from its recently unveiled “For Real” campaign. Or perhaps a change in scenery is already helping the burrito maker.

Aivita Board Adds Ex-Kite Pharma, Allergan Execs

Studies for Ovarian Cancer, Brain Tumors

Aivita Biomedical Inc.’s newest board additions bring star power to the privately held biotech company, which uses stem cells to develop “curative and regenerative” therapies for various ailments.


UCI Applied Innovation will host the first UC Pitch Day on Nov. 30 at The Cove.

Because It’s There, And Because It’s Fun

Climbing Bug Attracts OC’s Elite

Daniele Struppa walked into Jim Doti’s office in 2006, and saw a photo of him standing atop a mountain peak, next to a makeshift cross fashioned out of spare poles, climbing gear and tape.

Hoag Irvine Opens New Emergency Department

HEALTHCARE: Five times prior ER size

Irvine promotes itself as the safest city in the country crimewise.

‘I Just Wanted Tenure’

Props to Chris Casacchia, Research Director Meghan Kliewer and former Editorial Asst. Rebecca Mondon for weeks of work developing our page 1 feature on female representation on public company boards.

Friday, November 2

Samueli: How He Did It, and Just Might Again

Broadcom cofounder Henry Samueli kicked off OCTANe’s 2018 med-tech forum with tales from the early days of the chipmaker you’d likely never heard—and hints on what industry today he believes may be ripe for disruption.

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Midday Stock Roundup

The S&P 500 declined 1.3% in midday trading to 2,704.53.

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Habit Names Marriott Creative Exec to Board

Habit Restaurants Inc. (Nasdaq: HABT) in Irvine added Karin Timpone to its board of directors, which now has eight members.

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Life in the Fast Lane

IPOs, Relocations, New Markets Add to Ranks

It’s getting a bit harder to be one of Orange County’s fastest-growing public companies. But for those who make the cutoff, the payoff remains sweet.

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Thursday, November 1

El Pollo Loco 3Q Sales, Profit Rise

El Pollo Loco Holdings Inc. (Nasdaq: LOCO) in Costa Mesa reported third quarter net income of $6.8 million on revenue of $106.7 million, compared with a loss of $4 million on revenue of $101.2 million in the same period a year ago.

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October Auto Sales Mixed

Sales by OC automakers were mixed in October with three of the five local companies reporting an increase.

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Masimo 3Q Sales up 8.9%

Masimo Corp. (Nasdaq: MASI) reported third quarter revenue climbed 8.9% to $210.6 million. Product sales grew 12% to $202.1 million for the quarter while royalty and other revenue declined 38% to $8.5 million.

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Midday Stock Roundup

Indexes continued to rally higher following the rebound on Tuesday, following some heavy losses toward the end of October. The S&P 500 was up 0.6% to 2,729.65.

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Taco Bell Strong; Yum Mixed

Irvine-based Taco Bell Corp. sales rose 8% to $2.6 billion in its most recent quarter, making it the top-performing chain in Louisville-based parent company Yum Brands Inc. (Nasdaq: YUM) portfolio for the period.

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Syntiant Draws Investment from Tech’s Heavy Hitters

TECHNOLOGY: Raises $25M from Microsoft, Intel

Irvine-based chip startup Syntiant Corp. attracted some of tech’s biggest names in its second funding round.

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