Stories for October 2019

Thursday, October 31

Lantronix to Buy Intrinsyc

Lantronix Inc., the Irvine-based maker of Internet of Things (IoT) and secure data products, has agreed to buy Canadian firm Intrinsyc Technologies Corp., a provider of solutions for the development of embedded and IoT devices.

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Alteryx Beats Estimates, Shares Rise

Irvine’s Alteryx Inc. (Nyse: AYX) today reported third-quarter results that topped analysts’ expectations and the shares rose 2.7% in after-hours trading.

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Long Beach Airport Traffic Ticks Up

Long Beach Airport traffic rose 1.5% year-over-year in September to 289,500 passengers; year-to-date traffic is down about 12% to 2.6 million passengers.

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Industrial Buyer in Second Leaseback

CenterPoint Properties bought a 202,000-square-foot industrial building in Santa Ana for $37 million.

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Rocket Lab Wants Moon Shot

Huntington Beach small satellite launch company Rocket Lab said it will send spacecraft to orbit the moon as soon as next year.

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Weedmaps Trims Workforce

Weedmaps CEO Chris Beals has cut 25% of the cannabis dispensary locator’s employee count seven months after being named to its top spot.

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Midday Stock Roundup

A number of Orange County companies’ shares are moving today based on their most recent earnings reports.

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Kia Names President

Irvine automaker Kia Motors America gets a new president next month.

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Hoag’s Wellness Push on Display in Foothill Ranch

HEALTHCARE: 40K-SF center: gym, juice, apps

Hoag Hospital plans to roll out one of the region’s largest and most ambitious preventive health and wellness centers early next year at a new location in Foothill Ranch.

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Habit Shares Pop on Q3

Irvine fast casual burger chain The Habit Restaurants Inc. continues its push on service, modernizing its fleet of stores on the digital front and adding drive-thrus in its recently ended quarter.

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Fram Virjee

Replaced D.C. education trade group-bound Mildred García … CSUF largest in system, 41K students … 30 years, employment law, O’Melveny … had been running nonprofit Yambi Rwanda with wife Julie to fight poverty in central African nation … Yambi means embrace … ‘was retiring well when I got conned to come over here,’ he deadpans … emigrated to U.S., age 7, on Queen Mary … bachelor’s, UCSB; J.D., Hastings … Business Journal OC 50

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Wednesday, October 30

Great Park Mixed Use Nod

Five Point’s Great Park Neighborhoods will see a new mixed-use development on part of a 58-acre site near its sports fields.

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Cloudvirga Signs National Firm

Mortgage software maker Cloudvirga in Irvine signed new client, Dallas-based lender Supreme Lending.

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Botox Gets Another OK

Drugmaker Allergan PLC’s flagship Botox got FDA approval for use in treating lower limb spasticity in children, except those with cerebral palsy.

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Boot Barn: Strong Q2, Upbeat on Season

Irvine-based Western wear retailer Boot Barn Holdings Inc.’s better-than-expected results for the September quarter has it rosy on the upcoming holiday selling season and beyond.

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Willdan Buys Data Firm

Anaheim-based Willdan Group Inc. (Nasdaq: WLDN) bought Energy and Environmental Economics Inc. (E3) in San Francisco on undisclosed terms.

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HCP Promotes Three, Changes Name

Healthcare facilities REIT HCP Inc. (NYSE: HCP) promoted EVP and Chief Investment Officer Scott Brinker to President, a title previously held by CEO Tom Herzog, who retains the top role; Brinker also remains CIO.

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Midday Stock Roundup

The S&P 500 ticked down 0.1% in midday trading to 3,034.79. (continue reading)

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Soka Names COO

Soka University Chief Academic Officer Ed Feasel has added executive vice president and chief operating officer to his titles.

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CSUF: OC Job Growth Will Slow

Orange County’s employment growth will slow through 2021 while local home price hikes will be “restrained at best,” according to a California State University-Fullerton forecast.

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Hearts, Minds and HQs

Robert Braithwaite’s been busy of late: check our front-page story on the new wellness push at Hoag Health Center Foothill Ranch, as well as this page’s story on the first Be Well OC location in Orange, where Hoag and other area hospitals are involved.

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Tuesday, October 29

Nike to Sell Hurley

Costa Mesa-based Hurley International LLC is to be sold to brand licensing and management firm Bluestar Alliance LLC.

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Midday Stock Roundup

The S&P 500 rose 0.2% to 3,044.35 during midday trading.

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Public Companies’ Fastest Growers Soar 33%

MARKETS: 34 firms report $27B in sales

Orange County has again demonstrated the ability to spur fast-growing publicly traded companies.

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Monday, October 28

2019 OC 500 Bows

The 2019 OC 500 publishes Monday, Nov. 4.

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Midday Stock Roundup

Major U.S. stock market indexes rose during Monday midday trading after ongoing optimism about a trade deal between the U.S. and China. (keep reading)

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Ex-Xbox Exec to Blizzard

Mike Ybarra, formerly vice president for Microsoft’s Xbox gaming platform, said he’s joining Irvine-based Blizzard Entertainment.

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Mark P. Robinson Jr.

Founder, owner, consumer safety law firm … counsel, co-counsel, cases in 46 states … landmark Ford Pinto case Grimshaw v. Ford Motor Co., jury awarded $128M … founding member, OC Bar Foundation … adjunct, UCI Law … board Foundation for Democracy and Justice … fellow American College Trial Lawyers … lifetime honor from Consumer Watchdog … bachelor’s, Stanford U.; JD, Loyola

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Alteryx’s AI Finds New Home: Spectrum Terrace

TECHNOLOGY: Big data lease is biggest of year

Irvine-based data analytics software maker Alteryx Inc. has struck a deal to more than double its local footprint, with a 183,000-square-foot lease at the city’s new Spectrum Terrace office development.

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Irvine a Test Track for Autonomous Hyundais

Irvine will serve as the hub for a pilot program testing a fleet of autonomous Hyundai Konas.

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No Paper, No Problem For Toshiba’s OC Ops

TECHNOLOGY: Lake Forest firm sees future in printing

Toshiba America Business Solutions Inc.’s headquarters in Lake Forest is ready to help businesses make the long-awaited transition to offices more focused on digital and less on paper.

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Unified Plan to Tackle Mental Health Concerns in OC

COMMUNITY: Be Well to focus on addiction, too

A large cross section of Orange County healthcare and civic leaders expect a forthcoming $40 million facility in the city of Orange to mark the first step in a unified approach by the county toward combatting mental health problems and treating drug abuse—and in doing so alleviating some of the area’s homelessness issues.

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Argyros Family Foundation’s President Julia Argyros, and Lisa Argyros, board member, surprised a crowd of more than 350 business leaders and CEOs with the announcement of a $10 million gift to Chapman University’s Argyros School’s endowment.


Aliso Viejo-based Adroit Worldwide Media Inc., also known by its consumer brand name AWM Smart Shelf, has raised an $11 million Series A funding round, led by Impact Venture Capital in Sacramento.

Slapfish Keeps Focus On Grassroots Marketing

Company Buckles Down On Digital Efforts

Slapfish’s new deal with investment firm Mac Haik Enterprises Ltd.’s restaurant division gives it a capital injection and franchise expansion.

Juice It Up CEO on Brand Refresh, as 25 Looms

Stiff Competition Keeps Chain on Its Toes

Can being an original be enough to turn heads these days?

Intersect Hits Market for Nearly $260M

$27M Renovation, Full Roster Ups Price

The Intersect office complex in Irvine is on the market four years after its last sale, this time with a much higher price tag and a full-tenant roster.

OC Firms, Girl Scouts Promote STEM

Blizzard, Broadcom, WD Among Supporters

Some of Orange County’s major companies have joined the move to help Girl Scouts aim for careers in science, technology, engineering, and mathematics.

Cinema Equipment Maker Preps IPO

Moving iMage Expects $7M in Proceeds

Moving iMage Technologies Inc. of Fountain Valley, a designer and maker of digital equipment for the cinema exhibition industry, has filed to go public on the New York Stock Exchange.

Ducommun Buys Ammo Firm for $77M

CEO Seeks Further Aerospace, Defense Deals

Santa Ana-based aerospace manufacturer Ducommun Inc., a manufacturer for the aerospace, defense, industrial, and other markets, has made its third acquisition under Chief Executive Stephen Oswald, and is on the lookout for more businesses to buy.


Ballot Harvesting: What Happened In 2018 Might Become ‘New Normal’

The most surprising outcome of the 2018 election was the Democrats winning four congressional districts by wide margins from Republicans in spite of the significant registration advantage of the local GOP in those four congressional districts. For example, the Democrats won the coastal 48th Congressional District by 7.2% even though the Republicans held an 8.5% voter registration advantage.

AI Firms, Others See Booming Sales

TECHNOLOGY: See demand in data, temps, defense

Alteryx Inc. has gotten the lion’s share of the attention for growth in OC’s tech community of late, but there are other local public companies going gangbusters as well.

OC Banks See Surprising Revenue Growth

FINANCE: Sales spurred by acquisitions, ‘secret sauce’

Banks are in an industry not typically noted for large jumps in revenue growth. Tell that to those based in Orange County.

WeWork Says OC Work Still On Track

Opens 6th Area Location; Next Four on Schedule

Though lingering questions about WeWork’s locations in Orange County—and its operations across the country at large—remain since its initial public offering plans fell apart this fall, the company insists it is business as usual with regard to spots it plans to open here.

OCBJ Calendar

Oct. 28-Nov. 6; Nov. 13, 2019

This week's business and other event listings.

Another Canvas, For Anaheim

TRI Pointe’s Community Opens Next Year

Equity Office Management LLC’s Canvas office complex is not to be confused with a residential project elsewhere in Orange County with the same name.

EQ Office Overhauls Costa Mesa Campus

REAL ESTATE: Canvas a 551K-SF creative hub

Equity Office Management LLC’s take on the creative office trend—and its embrace of new varieties of coworking options for office tenants—is being shown off at its largest property in Costa Mesa, a five-building collection of offices that sit alongside the San Diego (405) Freeway next to Bristol Street.

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Friday, October 25

William Lyon Homes Revs Up

William Lyon Homes (NYSE: WLH) in Newport Beach was the fastest-growing publicly traded OC homebuilder over the last two years, with revenue surging 42% to $2.1 billion.

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Edwards, Masimo Among Fast-Growers

Edwards Lifesciences Corp. (NYSE:EW) and Masimo Corp. (Nasdaq: MASI) have stock market composite ratings above 95—meaning they’ve outperformed 95% of companies in their industry.

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VF Still Upbeat on Vans

The outlook remains bright for Costa Mesa-based Vans Inc., even as parent VF Corp.’s shares took a hit Friday after releasing disappointing results for its recently ended quarter.

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Midday Stock Roundup

The S&P 500 rose up 0.5% to 3,024.22 in midday trading Friday. (keep reading)

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Jannard Steps Down

Jim Jannard, the founder of Oakley, Red Digital Cinema Camera Co., and more recently the Hydrogen phone project on Thursday said he’ll retire.

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Modern Drives

Hyundai has evolved. It wants consumers to know it.

Hyundai rhymes with Sunday, sported a return-your-car-if-you-lose-your-job policy during the Great Recession, and at one time promoted a 24/7 product strategy—that is, seven model launches in 24 months.

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Thursday, October 24

BJ’s Shares Up on Q3 Results

A slowdown across the broader casual dining segment and the impact of Hurricane Dorian on certain East Coast states impacted the third quarter for Huntington Beach-based restaurant operator BJ’s Restaurants Inc.’s (Nasdaq: BJRI).

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Segerstrom Center Taps Broadway Vet

Segerstrom Center for the Arts named Casey Reitz its new president, effective in December, replacing Terry Dwyer, who left the post in March.

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Midday Stock Round Up

The S&P 500 was flat in midday trading at 3,004.12. (keep reading)

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SeneGence to Sell in Hong Kong

Foothill Ranch-based cosmetics and skincare company SeneGence International said it’s expanding its direct-selling model to Hong Kong.

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Auto Fintech to Introduce Dealers to the Digital World

INNOVATION: AutoGravity ties; OC Auto Group backing

Automotive retail and fintech upstart Digital Motors LLC is coming out of stealth mode and putting the final touches on its business-to-business platform, which will drive dealerships and the “traditional automotive world” at large to “move into the digital age,” according to co-founder and Chief Executive Andy Hinrichs.

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Wylie Aitken

OC Top 50 ‘Super Lawyer’ … ‘King of Torts’ … Chairman, Chapman trustees; $350M+ endowment, 8.5K+ enrolled … with wife, Bette, early-and-often backer, its law school—trial courtroom, law clinic, distinguished visiting professorship (see Dale Fowler) … with George and Julia Argyros (see entries) co-sponsored OC Alzheimer’s Gala, raised $550K … supports Voice of OC … daughter Ashleigh, Anaheim pol

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Wednesday, October 23

Apparel Co.’s New President, HQ

Multi-brand apparel owner Z Supply LLC plans a move to larger headquarters in Costa Mesa under new leadership.

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IPO for Cinema Equipment Maker

Moving iMage Technologies Inc. of Fountain Valley plans an initial public offering.

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Slapfish Sells Stake

Fountain Valley-based fast casual seafood restaurant Slapfish got an undisclosed investment from Houston-based Mac Haik Enterprises.

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$260M Sought for Intersect

The Intersect office complex in Irvine, about two miles from John Wayne Airport, is for sale at $260 million.

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Karma Bows Silicon Valley Office

Irvine automaker Karma Automotive Inc. said Wednesday it expanded into Silicon Valley with a San Jose office.

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Chipotle Beats on Q3, Slows Store Growth

Newport Beach-based Chipotle Mexican Grill Inc. (NYSE: CMG) delivered better-than-expected results for its September quarter on Tuesday, even as construction of drive-thru lanes slows its store growth projections.

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Midday Stock Roundup

Indexes each edged up about 0.1% in midday trading. The S&P ticked higher to 2,998.92; the Dow Jones Industrial Average to 26,800.91; and the Nasdaq to 8,111.54. (keep reading)

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Amazon Inks Huge Lease in Santa Ana

REAL ESTATE: Mission Viejo spot rumored, too

Amazon has struck its largest-ever lease in Orange County, for a recently renovated industrial building running about 414,000 square feet in Santa Ana, real estate sources tell the Business Journal.

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Scott Baugh

2018 challenged fellow GOPer, 15-termer, U.S. Rep. Dana Rohrabacher … missed second slot on ballot by about 1,500 votes of 125,000 cast … ran local party ops 10 years, following legendary Tom Fuentes … raised millions for candidates … three-term Surf City assemblyman; led GOP state legislative caucus, 1999 … board: NB private up-and-comer HS Pacifica Christian

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Tuesday, October 22

Juice It Up Charts 2020

Irvine-based Juice It Up estimates it can open about a store a month next year; it has 83 now, including 16 in OC.

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WeWork Still Working On OC

WeWork says its woes—a shelved IPO and departed CEO—aren’t keeping it from opening locations in OC.

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Ducommun Buys Ammo Device Maker

Santa Ana-based Ducommun Inc. bought Wisconsin-based Nobles Worldwide for $77 million. Ducommun products target aerospace and defense applications; Nobles makes systems that are part of supplying ammunition to weapons on aircraft and ships.

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Midday Stock Roundup

The S&P 500 was up 0.2% during midday trading to 3,011.47. (keep reading)

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AutoGravity ‘Turns’ in New Direction

FINTECH: Adds short-term car leasing

Irvine’s AutoGravity Corp., a closely watched area fintech firm initially known for its mobile application that connects car buyers with lenders and dealers, is driving a new business.

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David Bahnsen

Launched firm 2015, $600 AUM; now $1.3B … previously Morgan Stanley, UBS … ‘dear friend’ of Trump adviser Larry Kudlow … Protestant pastor father his hero … conservative voice: media, social media … backs Trojans … co-founded Pacifica Christian H.S. … trustee, National Review … keys 2008 meltdown to loss of shame … first job: ‘passing out fruit shake samples at the Flying Fruit Fantasy’

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Monday, October 21

BlackBerry Cylance Exec to Parent Security Post

BlackBerry Cylance Vice President John McClurg has been promoted to chief information security officer at parent company BlackBerry Ltd.

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JW Marriott Opens in May

JW Marriott Anaheim will open in May 2020.

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Bank of Southern California to Buy CalWest

Rancho Santa Margarita-based CalWest Bancorp NA (OTCBB: CALW) announced it’s being sold to San Diego-based Bank of Southern California (OTC Pink: BCAL).

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Hyundai Taps Innocean Exec to be CMO

Fountain Valley automaker Hyundai Motor America confirmed Monday the appointment of Angela Zepeda to chief marketing officer.

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Midday Stock Roundup

The S&P 500 rose 0.6% to 3,003.17 during midday trading.

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Edwards’ Flow of Funds: Heart & Hearth

GIVING: Foundation grants $60M; homes, schools benefit

Home is where the heart valve maker is.

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Robert T. Braithwaite

Hoag Memorial Hospital Presbyterian Flagship NB campus; Irvine site; Hoag Orthopedic some 600 beds … Hoag only OC hospital in Calif. in US News top 10 … $1.2B revenue, up 9% YOY … OC’s only collocated hospital-acute adult rehab, neurological/orthopedic issues … expanding ER … new 18K SF 12-suite maternity unit, 2020 … as a kid, wanted to be a doctor ... Business Journal OC 50

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Mission Hospital Preps New Cancer Institute

HEALTHCARE: $80M cost; November opening

In August, Mission Hospital appointed Seth Teigen to the chief executive position, just months ahead of the unveiling of its new Judi and Bill Leonard Institute for Cancer Prevention, Treatment and Wellness, which will take place early next month.

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OC LEADER BOARD Opinion, Analysis, Insight

The Economics of Baseball: Does Paying More Win More?

A recent Wall Street Journal article focused on the winning ways of the Tampa Bay Rays, a team that won a wild card spot in the pennant race in spite of having the lowest payroll of all 30 teams in MLB—$63 million.


Oct. 21-30, 2019

Marketing Kicked Up A Notch! (SCORE Chapter 114), Mission Viejo, 1:30 p.m., free, (714) 550-7369,

Inside the Hard-to-Leave Bay Island

Quiet Lifestyle, Sales Activity for 23 Homes

If you’re from Orange County, you’ve likely heard a story about, or know someone, or know someone who knows someone, with ties to Bay Island.


Tustin-based fintech app Float has launched its beta iOS version, which allows users to track their credit scores, and the credit scores of friends, family, and others who give them permission. An Android app is on the way.

Kaiser Permanente Names New COO

Anderson Oversees Some 600K in OC

Kaiser Permanente, the largest HMO in Orange County, has appointed Phyllis Anderson, R.N., M.A., as chief operations officer for the group’s local operations.

Edwards Wins FDA Nod for Integrated Heart and Brain Monitor

Noninvasive Monitoring of Blood Flow

Edwards Lifesciences Corp. recently received FDA clearance for its ForeSight tissue oximetry device, its latest noninvasive medical device capable of measuring the oxygenation of brain tissue.

$18M Irvine Buy; Redevelopment Potential

Busy Intersection; Across from District

Private real estate investor Thrifty Oil Co. has closed on a nearly 58,000-square-foot industrial property at one of Irvine’s busiest intersections for $18.6 million.

Whole Foods Inks Surf City Lease

45K-SF Deal Begins Next Year

Whole Foods Market, a unit of, has inked a new deal in Orange County, this time for a nearly 45,000-square-foot retail space in Huntington Beach.

Trumark’s Flexible Investment in Brea

Custom Home Plan Starts With a Shell

You can get a custom home in Orange County for under $1 million.

Hong Kong Issues Could Affect BlizzCon

Protests Expected At November Event

The furor over punishment that video game maker Blizzard Entertainment Inc. meted out to a professional gamer who voiced support for Hong Kong pro-democracy protesters may spill over into the company’s flagship BlizzCon jamboree next month in Anaheim.

5G Technology Still Faces Heat, Signal Issues, Expert Says

Laird’s Strader: Wireless Standards Needed

While there is plenty of hype around the upcoming deployment and application of 5G mobile phones, an expert at a technical conference earlier this month in Anaheim cautioned there are some issues still to be worked out by engineers.

Pilotless Air Taxis Possible ‘Long Term’

Public Acceptance Needed First, Karem Execs Say

Aerospace development firm Karem Aircraft said its ultimate goal is to have pilotless electric air taxis, but only in the “long term.”

OC Auto Dealers Down Modestly, Carmaker Jobs Up

Mitsubishi Departs OC; Rivian Ramps Up

Sales took a dip among Orange County auto dealers amid an industry landscape that continues to evolve locally.

Enevate Sees Demand for Fast-Charging Auto Batteries

Attracts Heavyweight Advisers, Including Nobel Chemistry Winner

Enevate Corp., an Irvine-based company developing rechargeable batteries for electric vehicles, said the firm’s 14 years of research will pay off handsomely with royalties when more cars use its fast-charging technology.

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King of the Hill

How Fletcher Jones Motorcars Newport Beach’s GM Stays on Top

Being nice can get you to lots of places. Just ask David Gonzalez.

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Irvine Co. Launches Flex Office Option

REAL ESTATE: 55 local spots initially

Irvine Co. is no longer just a partner to coworking companies.

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Civics, and Civility

OC’s civic work doesn’t stop for a party. Witness last Wednesday’s groundbreaking of the first Be Well OC campus in Orange; it’s the first of three planned area facilities geared toward tackling mental health issues and drug abuse through a public-private partnership model.

Business Journal’s OC Civic 50 Honors Five

Bush: These Companies Have Risen Above Others

A construction contractor, a small and large wealth manager, and a pair of accounting firms received top honors at the Business Journal’s third annual Civic 50 event held on Oct. 16 at Hotel Irvine.

FivePoint’s OC Mission: Everything Old Can Be New Again

Take Emile Haddad literally and seriously.

Charity Game Set, Firm Match; Ingram Boosts Giving

Tech Giant Notes Higher Retention, Engagement

Irvine-based Ingram Micro Inc. has run a steady-as-she-goes route to becoming the world’s biggest technology product purveyor and service seller, including an acquisitive several years across the globe, honing its systems, staying with fast-changing technology trends, and carving out a dominant spot in what’s often a low-margin business.

PwC Gets, Carries ‘Wonderfully Warm’ Giving Bug

Global Firm’s OC Outpost For 5-Year $320M Project

Ted Wilm is closing in on four decades at PricewaterhouseCoopers LLP, the New York-based Big Four accounting firm with a significant stake in Orange County. The local office in Irvine employs 375—making PwC one of the Big Four in OC as well.

Neil Bush Keynotes Third Annual Civic 50 Awards

GIVING: Points of Light, OneOC, 400+ Turn Out

More than 400 attendees came together to honor giving and philanthropy by Orange County companies at the third annual Civic 50 awards, presented by the Business Journal, local volunteer boosters OneOC in Santa Ana, and the Atlanta-based U.S. nonprofit Points of Light.

One Rep Max: Contractor Builds Community Muscle

Sharing, Caring at Casco Includes People, Founder

Millennials aren’t interested in merely seeking an employer with a good happy hour, according to Casco Contractors owner Cheryl Osborn.

Friday, October 18

Alteryx Moving Irvine HQ

Irvine-based data analytics software maker Alteryx Inc. said it is moving its corporate headquarters from the Park Place office complex near John Wayne Airport to the city’s Spectrum Terrace development.

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Hyundai Seeking New CMO

Fountain Valley-based Hyundai Motor America said Friday it has begun the search for a new chief marketing officer, following its confirmation of CMO Dean Evans’ resignation.

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Midday Stock Roundup

The S&P 500 was down 0.4% to 2,985.53 in midday trading Friday.

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OC Unemployment Plummets to 2.4%

Orange County’s unadjusted unemployment rate dropped to 2.4% in September from a revised 3.0% in August and below the year-ago estimate of 2.8%, according to the state Employment Development Department.

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Edwards Looks Ahead

Edwards Lifesciences Corp. (NYSE: EW) recently got FDA approval of its ForeSight tissue oximetry device.

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Whole Foods Adds In Surf City

Whole Foods Market plans to open its second location in Huntington Beach.

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5G Still Up In Air

A technical conference in Anaheim was abuzz with talk of 5G technology—and its still-in-process deployment and application.

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True Grit in the 21st Century

Ethan Wayne Looks to Expand the Duke’s Legacy

The T-shirts are folded next to the single-action revolver and shotgun, which sit near the leather journals, the bourbon and beef jerky as if the Duke himself was gearing up for a boat trip on the Wild Goose.

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Thursday, October 17

Midday Stock Roundup

The S&P 500 increased 0.3% in midday trading to 2,997.51.

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Small Satellites Mean Big Business at Tyvak

AEROSPACE: Serves NASA, Hedge Funds, Insurance Cos.

If you want to get an advantage over your business competitors, and have half a million dollars or more to spare, maybe consider keeping an eye on things from outer space with a small spacecraft from Irvine-based Tyvak Nano-Satellite Systems Inc.

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Bill Carpou

Go-to CEO for big PE Firms … joined 2015 … 525+ cos. through Launchpad accelerator since 2009 … grew capital network, growth services platform … formed SoCal network, incl. LA Venture Association, SD Venture Growth … first fund, $30M for ophthalmology, 2017, named PwC No. 3 med-tech fund …. plans second eye, new aesthetics medicine fund … can’t miss: ‘NCAA Final Four if Villanova is in’ (see Ted Wilm)

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Wednesday, October 16

Philanthropy Recognized

The Business Journal and volunteer groups OneOC and Points of Light hosted the third annual Civic 50 awards at Hotel Irvine Wednesday.

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Midday Stock Roundup

The S&P 500 dipped 0.2% in midday trading to 2,989. (keep reading)

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A Record Score

Our Richard Reisman broke his Yom Kippur fast last Wednesday night at Chapman University; he wasn’t the only one.

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John D. Cappasola Jr.

Leads 5th-largest OC-based restaurant chain … $784M systemwide sales; 575 locations, 14 states; 55% company-owned; $475M revenue; $450M market cap … took role 2017, chief brand officer, 2011 … Top-50 U.S. chain … 2018 Michigan franchisee plans to triple unit count there … 16 years Blockbuster; bachelor’s, California Coast U

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Tuesday, October 15

Midday Stock Roundup

The markets rose on positive third-quarter results from banks and health companies and an indication that a Brexit deal may be soon announced.

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Newport Banker Leads BofA Retail in Calif.

FINANCE: Sederquist adopts new bank model

Orange County executives working at America’s biggest banks are continuing to rise high up the corporate ladder.

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Bill Borgsmiller

Company’s ACI Jet unit runs one of two fixed-base operations at John Wayne Airport (see Barry Rondinella)—clients: charter carriers, plane owners … lauded for upgrades, lowering jet fuel costs … GM Nathan Steiger; SVP Joe Daichendt … Borgsmiller’s first job: janitorial … roots for St. Louis Cardinals; would like to meet Amelia Earhart: ‘I want to know what happened’

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Monday, October 14

Midday Stock Roundup

The S&P 500 was down 0.1% during midday trading to 2,966.76.

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Aliso’s One Enterprise Office Trades for $59M

REAL ESTATE: New HQ for Ambry gets top dollar

Aliso Viejo’s One Enterprise building has traded hands for $59 million, in the largest single-building office sale seen in South Orange County this year.

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Michl Binderbauer

Spinout of parent TAE Technologies Inc. … backed by $40M 2018 Series A round led by Artis Ventures … kills cancer cells via energy beams … ‘boron neutron capture therapy’ targets inoperable tumors … first customer China-based oncology center … ‘two decades of research … repurposed for medical’ … nuclear fusion … massive energy use … $100M to build system

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Tustin Trades: 2 Buildings Bring in $45.7M

Newmark Brokers Sales Along Michelle Drive

A pair of Tustin buildings just off the Santa Ana (5) Freeway, along Michelle Drive, have sold in separate transactions for a combined price of $45.7 million.

Surge Protection Products Released

Industry Could Hit $4B in a Few Years

Irvine-based Infinite Electronics’ L-com brand has introduced a new line of electrical surge protectors for high-speed computer networks.

Cisoshare Trains Formerly Homeless on Cybersecurity

Country Faces a Huge Gap Of Cybercrime Fighters

A San Clemente-based cybersecurity company believes it has found a way to help fill the gap in U.S. computer-protection experts: recruit previously homeless people and help them into better-paying jobs.

Experian Says ‘Boost’ Program a Success

OC Residents Get Higher Credit Scores

Costa Mesa-based Experian North America said its “Boost” program has let Americans nationwide add more than 11 million points to their FICO credit risk scores in the first six months, with plenty of Orange County residents taking advantage of it.

Prospera Adds to Anaheim Hotel Holdings

HOSPITALITY: Pays $36M for partner’s stake

The developer of Anaheim’s soon-to-open Cambria Hotel & Suites near Disneyland has quietly sold off its interest in a nearby hotel it built four years ago.

New Owners to Revise LT Platinum Center Plans

REAL ESTATE: Less retail likely at Anaheim site

The development group behind a proposed two-tower project next to John Wayne Airport in Irvine has been brought in to help oversee an equally ambitious mixed-use project yet to start near Angel Stadium in Anaheim.

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Morgan, Lewis Names New Managing Partner

LEGAL: James takes over from Bancroft

Collie James, the new managing partner at Morgan, Lewis & Bockius LLP in Costa Mesa, has some lessons he likes to impart to his colleagues, both the younger ones and the older ones.

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Swift Raises $45M for Teeth Improvement

HEALTHCARE: Investors see revolution in braces

Swift Health Systems Inc., a maker of “invisible braces” for teeth, said last week that it raised $45 million in Series C funding, bringing the total capital raised to $70 million by the company.

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Construction Materials Firm FBM Buys 2, Relocates

Was in Tustin; Now in Santa Ana

Construction materials distributor Foundation Building Materials Inc. (NYSE: FBM) is still on the growth path, and it has a new base of operations in the area.


How to Reduce Energy Usage When Designing Your Office

The recently released results of the architecture industry’s 2030 Challenge make it clear that builders and designers can and should be doing more to reduce fossil fuel use in their projects.

GC 2018 Winners Witness Big Deals, Executive Changes

Firms See Growth, New Faces

From watching companies make executive changes to property deals in the hundreds of millions of dollars to unloading noncore businesses, it’s been quite a year for the 2018 Business Journal winners of the ninth annual General Counsel Awards. Here’s a review of some of the major actions by companies that employed our winners from last November.

Slow and Steady At Retailers as Holiday Looms

Industry Largely Positive Amid Notable Closures

The National Retail Federation said this month it’s expecting a lift in holiday retail sales—November and December—of 3.8% to 4.2% over last year to between $727.9 billion and $730.7 billion.

Tesla Plants Flag in South OC, Continues Infrastructure Buildout

Lake Forest Service Center Expands EV Maker’s Reach

Tesla Inc. founder Elon Musk and team are going “at max speed.”


Newport Beach-based Beeya, a search engine that aggregates job postings from other sites, has released a match score that uses artificial intelligence to pair prospective employees with the best opportunities based on their skillset and work history.

Aerospace, Defense Firms Boost Employment

Luckey’s Anduril Grows; Top 31 See 4% Push

Aerospace and defense contractors in Orange County pushed up their employment numbers, proving once again in the words of one local flight pioneer, Tustin’s Abe Karem, that “the best place to do aircraft is Southern California.”


Nearly 350 Orange County philanthropists, business leaders, and community members gathered on Sept. 28 in support of Discovery Cube Orange County, Santa Ana’s interactive, science-based, and STEM-focused children’s museum, for its 21st annual gala.

OCBJ Calendar

Oct. 14-23, 2019

This week's business and other event listings.

Friday, October 11

Del Rosso to Genesis Motors CEO

Genesis Motors North America said Friday it named Mark Del Rosso chief executive officer, effective Oct. 21.

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Midday Stock Roundup

Indexes rose after President Trump indicated a deal with China is close. (keep reading)

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Tesla Center to South OC

Tesla Inc. opened a service center in Lake Forest.

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Newmark Brokers $46M in Tustin

Two buildings on Michelle Drive in Tustin sold in separate deals for a total of about $46 million.

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Training Ex-Homeless to Hit Cybercrime

Cisoshare and United Way are training the formerly homeless to fight cybercrime.

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Thursday, October 10

WeWorking It Out

Coworking Giant’s IPO Implosion Could Be Boost for Others

WeWork’s botched IPO plans have, in six short weeks, cost the company’s chief executive his job and the jobs of a number of his cronies, likely ended the hyper-aggressive growth push of Orange County’s fastest-growing coworking company for the immediate future, and even prompted bankruptcy speculation of the 9-year-old firm, which this summer had an internal valuation of $47 billion as it prepped to go public.

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William Wang

Seventh-largest OC private co., $3B sales … last count, Wang holds 55% of co. … a third split among several others … smart TVs in 8K stores … jumpstarting China after JV dashed … 400 workers, 45% OC … Wang backs Sage Hill, Pacific Symphony, Hoag Hospital; board: Segerstrom Center (see Gordon McNeill, John Forsyte, Flynn Andrizzi, Terry Dwyer) … Business Journal OC’s Wealthiest; OC 50

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Avid Names Ex-Exec as COO

Tustin-based Avid BioServices Inc., a contract manufacturer of biopharmaceuticals, named a new COO.

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Coolsys Expands in Southeast

Coolsys, the Brea-based parent of refrigeration and HVAC services companies nationwide, said it acquired Building Air Services. Terms of the deal weren’t disclosed.

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Midday Stock Roundup

The S&P 500 climbed 0.7% to 2,938.83 in midday trading. (keep reading)

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Hotel Revenue, Rates Up in August

Local hotels once again saw higher daily rates and revenue per available room on lower occupancy levels in August, CBRE Hotels said.

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JWA Traffic Down 5%

John Wayne Airport passenger traffic decreased about 5% in August to 942,500 compared with the same month last year.

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Jimmy P, Jimmy U

Microsemi’s “Jimmy P” Peterson and his wife, Sheila, are heading the just-unveiled $2B fundraising efforts of UCI (see front-page story), one of many higher education stories from our Jessie Yount featured in this week’s edition.

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Daniel J. Callahan

Top-ranked U.S., state, regional, county trial lawyer … 40+ years … began career Hawaii; relocated SoCal; opened firm St. Patrick’s Day, 1984 … Segerstrom board; … New Majority … Chicago native … Western Illinois U, UC Davis Law … Phi Kappa Phi, Pi Sigma Alpha … first job: caddy, Glen Oaks CC, Glen Ellyn, Ill. … first car: 1959 Studebaker 2-door wagon … would like to meet: Donald Trump

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Wednesday, October 9

Enevate Adviser Shares Nobel

John Goodenough, a member of Irvine-based Enevate’s technology advisory board, has shared in the Nobel Prize in chemistry with two other scientists for the development of lithium-ion batteries.

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Midday Stock Roundup

The S&P 500 rose 1% in midday trading to 2,921.32. (keep reading)

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Habit Looks to South Korea

Habit Restaurants Inc. inked a deal with a consulting firm it hopes will help it expand into South Korea.

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UCI’s $2B Campaign: Quiet No More

EDUCATION: Seeks donations to fund health, tech, museum

The University of California-Irvine wants to raise $2 billion by 2024—the largest-ever fundraising campaign in the history of Orange County.

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Richard Cabrera

Leads Western U.S. corporate, debt capital, M&A, international banking … region Calif., Nev., Ore., Wash. … Forbes Top-100 bank, Top-100 cos. to work for … one of several banks expanding in OC (see Joe Yurosek) … works with Gil Dalmau (see entry) … joined Umpqua 2016 … previously at Calif. Bank & Trust, BofA, Mellon, First National Boston, Security Pacific, First Interstate … 35 years … SDSU bachelor’s

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Tuesday, October 8

Midday Stock Roundup

The S&P 500 fell 0.9% to 2,913.41 during midday trading. (keep reading)

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Shiseido to Buy Drunk Elephant

Drunk Elephant has sold to Tokyo-based Shiseido Company Ltd.’s Shiseido Americas Corp. division.

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Chapman Looks to Expand Enrollment

EDUCATION: STEM, housing, research plans

Chapman University is preparing for growth, and the Orange-based school is optimistic that the city of Orange will support its plans to expand.

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James Caggiano

Commercial-stage biopharma … 1st FDA OK, immunotherapy with drug Provenge, 2010 … prostate cancer … BK, sold to Valeant, 2014, $495M … 2016, sold to China’s Sanpower, $820M … Seal Beach HQ … 200 workers … offices: Seattle; Union City, Ga. … after earlier slots at Dendreon, Allergan, Valeant; rejoined Dendreon … treatment: after cells harvested, processed, must be back into patient, 18 hours … team of 15 monitors delivery 24/7

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Monday, October 7

Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,948.71.

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Copley Motorcars Plants West Coast Flag

Needham, Mass. luxury and sports car seller Copley Motorcars now bookends the country with the opening of a Newport Beach location.

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Antarctica Inspires Mavenlink CEO to Be ‘Explorer at Heart’

SOFTWARE: Sees 50% revenue growth, hiring 100 this year

Working in 100 degrees below zero in the Antarctic decades ago taught Mavenlink Inc. Chief Executive Ray Grainger how to be adaptable.

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Theodore 'Ted' Wilm

Fourth-largest OC; 375 employees … 35+ years PwC … clients BlackRock, Barclays Wealth, Charles Schwab … board CSUF Mihaylo (see Morteza Rahmatian) … backs Women Investing in Security and Education … can’t miss: ‘date night with wife Mary Kay!’ … jobs: scooping ice cream at Friendly’s; selling suits, Montgomery Ward, shoes at Kmart, books at Walden Books … would meet George Washington, Ben Franklin

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Gamer Media Company Strikes Reuters Deal

Esportz CEO Calls OC ‘Epicenter’ of Industry

Irvine-based Esportz Network says Orange County is the epicenter for California’s gamers.

Econ 101: Immigration Reform Vital for Tech

RSM Chief Sees ‘Critical Shortage’ of Local Housing

Joe Brusuelas, chief economist at accounting, tax and consulting firm RSM US, has a clear solution for Orange County’s difficulties in finding people to fill jobs in the tech sector: immigration reform to attract more qualified workers.

Indi Aims to Get Brands Ahead of Blogger Bubble

MARKETING: Helps brands engage, monetize users

Fake followers, paid engagement, and a continued squeeze on access to consumers by social media platforms.

Docbot Develops AI To Quickly Spot Colon Cancers

DEVICES: Hospital stay led to breakthrough

When Andrew Ninh couldn’t go to his high school graduation, the result was an innovative idea that may change the way cancers are diagnosed.

Alignment Healthcare Offers ‘Doctor in the Family’

HEALTHCARE: Company’s system is ‘changing lives’

John Kao experienced firsthand the frustration of America’s fragmented healthcare system when his mother suffered a heart attack and was taken to a hospital.

ViewSonic Chief Looks to Link AV, IT

TECHNOLOGY: Network teams need to sync up

It’s a marriage that both sides need to work on: the uniting of a company’s audio-visual team and its computer network mavens.

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Replace Bones With Coral?

Biogennix Dreams Morpheus Will Help Healing of Implants

What happens when bones break and become deformed or heal incorrectly?

Biolase Touts Lasers As Dentistry’s Future

Compares Product to Lasik; Wall Street Still Not Smiling

If laser surgery is good enough for the eyes, why not the teeth?

Community Colleges: Enrollment Mixed, More Grads

Institutions Get Grants, Join With Groups on New Work

Local community colleges saw full- and part-time enrollment drop this year, by 0.6% and 3.5% respectively, for an overall decline of 2.6%.

MBAs Reflect National Trends: Fresh Choices Rule

Brandman Enrollment Up, Nabs Corporate Partners

Traditional MBAs are in decline across the country.

CSUF’s 20-Year Plan

More students; $175M Campaign

California State University-Fullerton is the biggest campus in the Cal State system. It wants to get bigger.

UCI Applies Machine Learning To Predict Wildfire Sizes

Have Already Helped Forecast Extent of Blazes in Alaska

University of California-Irvine scientists will be exploring ways to use machine learning to predict the spread of California’s wildfires once they’ve ignited.

Spring Road Trip For Western State

Westcliff Adds, Moving Law School

Orange County’s oldest law school, Western State College of Law, is on track to get a new base of operations and a new lease on life.


Costa Mesa-based staffing and recruiting company Evrlink has released its online job platform and a mobile app.

Golden Tickets

Foodie Award Winners Announced

“And the winner is … ”

Cruttenden’s Next Fintech Helps Gamers Save

INNOVATION: Blast tackles micro saving

Some of Walter Cruttenden’s biggest ideas begin with very small numbers.

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ClearFlow Aids Open-Heart Surgeries

Patented Tube Helps Clear Blood Blockages

Anaheim-based ClearFlow Inc. is changing the surgical game in regard to chest tubes.

R.D. Olson Construction Busy in LA

El Segundo Opening; Long Beach Revamp

Irvine’s R.D. Olson Construction, among the most active hospitality contractors in Orange County, has been adding work in Los Angeles County of late.

Marriott Hotel In Anaheim Sells

$25.6M For TownPlace Suites

Anaheim’s 139-room Marriott TownePlace Suites near Angel Stadium has sold for $25.6 million, or about $184,000 per key.

ARES Buys 235 Units in Long Beach

$72.5M Deal Is First in City

Irvine-based Advanced Real Estate Services Inc. has paid $72.5 million for Alvista Long Beach, a 235-unit apartment complex just off Pacific Coast Highway, near the city’s “Traffic Circle” area.

Ephesoft Streamlines Back-Office Functions

Robotic Process Automation At Core of Document Handling

Irvine-based software developer Ephesoft Inc. has signed an agreement with Automation Anywhere to help companies delegate more back-office functions to machines.

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Cuts Like A ...

Knife Pleat Debuts at SCP

Knife Pleat is carving a France-focused niche at South Coast Plaza.

Tavern on the Sea

David Wilhelm Returns to OC

Several months ago, I wrote about David Wilhelm’s return to Newport Beach with Tavern House, then set to take the 3Thirty3 Waterfront spot on Coast Highway.

Rocket, Man

White House To the Rescue

I had tickets to see Elton John at Honda Center last month, and was deliberating on pre-concert dining. Locations near the venue would be packed, and lean away from fine dining.

OCBJ Calendar

Oct. 7-16, 2019

This week's business and other event listings.


M&A Slowdown Signals Opportunities in OC

Consistent with what’s happening in the larger economy, merger and acquisition activity is likely to slow down in Orange County.

Friday, October 4

Midday Stock Roundup

The S&P was up 0.9% to 2,937 in midday trading today.

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Alteryx Buys Massachusetts AI Company Feature Labs

Irvine-based data analytics company Alteryx Inc. has bought Feature Labs, a machine learning and artificial intelligence software firm launched from the Massachusetts Institute of Technology.

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Nostalgia Jerseys, Future Plans

115-year-old Mitchell & Ness Eyes Expansion, Women’s Line

Nostalgia may be in the name of Mitchell & Ness Nostalgia Co., but the executive team isn’t resting on history.

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Tilly Levine

Co-founded Tilly's Inc. youth fashion retailer (see Hezy Shaked) … still serves in client relations … stepping back at retailer—$577M revenue, $481M market cap—to focus on Tilly's … year-long program in high schools, teaching kids to ‘build confidence, inspire compassion’ … work includes emotional intelligence, mindfulness … Levine, Shaked, part of shareholder group that sold $117M shares in 2018

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Thursday, October 3

Midday Stock Round Up

The S&P 500 was up 0.5% in midday trading to 2,902.8. (continue reading)

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Laguna Niguel’s City Center, Reimagined

REAL ESTATE: Burnham Ward has community in mind

Burnham Ward Properties is crafting its legacy, one local community at a time.

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Tim Britt

Founded IT management, consulting firm 2001 … ‘we can do it better’ … ex-CIO Ace Hardware online … firm one of OC’s fastest-growing midsize private cos., 45% two-year growth to $93M annual sales … 500+ employees … backed by Vinny Smith (see entry) … roots for Georgia Tech Yellow Jackets … first job: ‘loading clay pigeons at my dad’s skeet/trap range in Wyoming’ … first car: Datsun B210

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Dan Young

Ex-Irvine Co. head, community development … launched consulting, development firm 2016 … helped on 2017 bid to bring Amazon HQ2 to OC … leading $100M private campaign for homeless housing (see Paul Leon) … Santa Ana mayor before Miguel Pulido … Business Journal Person of the Year in Real Estate, post-recession 2010

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Wednesday, October 2

Blackstone-Led JV Buys Great Wolf

An affiliate of Blackstone Group in New York will buy a controlling stake in family resorts company Minnesota-based Great Wolf Resorts, Inc.

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Midday Stock Roundup

Major U.S. indexes tumbled more than 2% during midday trading in the second day of sharp declines following a grim manufacturing report.

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Ed Susolik

Litigator in insurance, personal injury, business … born in former Czechoslovakia; lived in Switzerland, Spain … USC bachelor’s, philosophy, English, history, and JD … First job: ‘handbill canvasser for carpet cleaning co.’ at 14 … First car: 1979 Toyota Camry … roots for Ducks (see Henry Samueli) … would like to meet Vaclev Havel … wife, Jessica; six kids

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Security Updates

“We stand by our findings and conclusions,” Crowdstrike told the Business Journal last week, as the 8-year-old cybersecurity firm, founded in Irvine, got caught up in political intrigue that’s led to an impeachment inquiry of President Donald Trump.

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Tuesday, October 1

Forever 21 to Close Fashion Island, Tustin Marketplace Stores

Irvine Co.’s Fashion Island and Tustin Marketplace were among the shopping centers listed on fast-fashion retailer Forever 21 Inc.’s store closure list Tuesday, according to bankruptcy filings.

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Soft September for OC Automakers

Orange County automakers had two less selling days in September, as most capped the month with sales declines.

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Kawasaki Motors Names New CEO

Kawasaki Motors Corp. U.S.A. said it brought back Eigo Konya, tapping him to be the Foothill Ranch-based company’s president and chief executive officer.

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Long Beach Airport Traffic Down 7%

Long Beach Airport traffic decreased 7.2% year-over-year in August to 325,100 passengers.

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Midday Stock Roundup

The S&P 500 fell 0.9% to 2,949.69 during midday trading. (continue reading)

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Olenicoff Planning A Shopping Spree

REAL ESTATE: Huge loan frees up $500M+ cash

Igor Olenicoff, Orange County’s second-wealthiest resident, is on the lookout for real estate acquisitions here and in other markets.

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Wil Smith III

Commercial property investor, developer with friends in high places … sometimes buys in ventures with billionaire Monster Beverage Co. entrepreneurs Rod Sacks, Hilton Schlosberg (see entries) … overall Greenlaw portfolio 5M SF … recently selling industrial … wants to build apartments near Outlets at Orange, 4- diamond hotel near Disneyland … sold Triangle retail center 2017

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