TOP STORIES
QLogic Corp., Aliso Viejo, said it will acquire Ancor Communications Inc., Eden Prairie, Minn., in a stock deal initially valued at $1.7 billion; QLogic shares fell sharply following the news … GeoLogistics Corp., the parent of Bekins Co., said it is moving its headquarters and 100 jobs from Golden, Colo., to Santa Ana; the firm has 6,000 company-wide employees and annual revenue of about $1.5 billion … CKE Restaurants Inc., Anaheim, said its earnings estimates for the fiscal year ending Jan. 31 are well below analysts’ expectations and it expects flat or decreased same-store sales … More than three years of work to add carpool lanes, ramps and other improvements were completed on the Riverside (91) Freeway; meanwhile, the 91 Express Lanes lost $1.8 million in 1999 on 5% lower revenue of $19.5 million, it was reported … Two miles of Newport Beach and Huntington Beach shoreline were closed to swimmers because of a sewage spill.
GOVERNMENT
Environmentalists said they will try to qualify a referendum in Newport Beach on the proposed Newport Dunes resort … Two pro-El Toro airport groups urged study of a plan for southerly take-offs and landings from the north at the base, saying it would be safer than the county’s current plan …Construction around the John Wayne Airport control tower, planned to start in July and last a year could cause flight delays, the FAA said … Dennis M. Smith was named superintendent of the Placentia-Yorba Linda school district; Smith formerly headed the Laguna Beach and Irvine districts and most recently was chief of the Orange County, Fla., district … OCTA rejected a plan to allow single-occupant cars to use the carpool lane on the 57 Freeway for a toll, instead endorsing a plan to add lanes … The bill co-sponsored by OC congressman Chris Cox that prohibits discriminatory taxation on the Internet passed the House, 352-75 Laguna Beach Councilman Steve Dictorow proposed seizing the Festival of the Arts through eminent domain to prevent it from moving to San Clemente.
LITIGATION, INVESTIGATIONS
Pelican Hill Golf Course, Newport Beach, was fined $148,000 by the regional water board for illegally discharging recycled water into the ocean; course operator Western Golf Properties, Scottsdale, Ariz., said it may appeal … Former Huntington Beach councilman John A. Thomas was charged with 159 misdemeanor counts by the county DA’s office in connection with a February 1999 oil spill from wells he operates … Four telemarketing salespeople were convicted of mail and wire fraud for their roles in Costa Mesa-based Gecko Holdings … An OC jury awarded former Vons Cos. Inc. employee Lynne Rayburn of Mission Viejo $5.2 million in a gender-discrimination suit against the firm; Vons said it will appeal … Former store manager Frank McCrudden of Aliso Viejo sued Target Stores in OC Superior Court alleging he was fired because he is gay and HIV-positive.
PERSONNEL
Allan B. Ashby, was named VP and general manager of Boeing Co.’s Anaheim-based Electronic Systems & Missile Defense unit … PharmaPrint Inc., Irvine, named Steven A. Bowman interim CEO, replacing C. Richard Piazza, who had resigned … John Burns was named principal of the Meyers Group, Irvine … Rick Graniere was named CFO of Memorial Health Services … Edward J. O’Leary was named CEO of IStarXchange.com, Irvine … Gerald K. Tanaka was named exec VP and COO of Marie Callender’s Pie Shops Inc., Orange … Robert I. Webber was named president and COO of MindArrow Systems, Aliso Viejo, replacing COO Mark Grundy, who becomes president of a new division of the firm … Irvine-based IJNT.com founders Jon H. Marple and Mary Blake said they will give up the posts of CEO and president, respectively, with replacements to be named.
WHAT’S NEW
Quiksilver Inc., Huntington Beach, acquired international rights to the Quiksilver brand name from Australia-based Quiksilver International Pty Ltd. for an initial $22 million payment and two subsequent performance-related payments; Quiksilver said its European division plans to acquire the license to manufacture and distribute Gotcha International clothing on the continent Meade Instruments Inc., Irvine, introduced two new computer-controlled hobbyist telescopes and said it will add 70 workers at its Tijuana assembly plant to make them … Irvine Sensors Corp., Costa Mesa, established a subsidiary, Redhawk Vision Inc., to pursue business opportunities for its video-enhancement technology … ICN Pharmaceuticals Inc., Costa Mesa, said sales of its ribavirin drug had begun in Spain..
DEALS
A group led by Greenlight Capital withdrew its $56.1 million bid for Irvine-based BNC Mortgage Inc., and a $47 million sale to BNC’s management is expected to close in July, according to SEC filings … American Restaurant Group Inc., Newport Beach, said it will sell four of its chains to an entity controlled by ARG chairman and CEO Anwar Soliman for $25 million and retain the 102-unit Black Angus chain … Tustin-based PairGain Technologies Inc.’s $1.6 billion acquisition by ADC Telecommunications Inc., Minneapolis, cleared a federal antitrust review … Worldwide Wireless Networks Inc., Orange, acquired 1st Universe Internet … Wynn’s International Inc., Orange, and Japan-based Keeper Co. formed a joint venture, Wynn’s Keeper Inc., in Springfield, Ky., to make sealing components … The Greer Co., Santa Ana, said it had been acquired by Tulsa Winch and will remain in its facilities and retain its employees.
FINANCIAL
Brown Simpson Partners I exercised an option to buy $8 million of Irvine-based Endocare Inc.’s debt … Swell.com Inc., San Clemente, received $15 million in venture capital … Troy Group Inc., Santa Ana, said it is refocusing its strategy, will be investing heavily in sales and marketing and likely will break even in the second quarter instead of posting an expected profit … Shares of Nexell Therapeutics Inc., Irvine, rose 55% on news that one of its products was involved in a successful French gene-therapy trial.
CONTRACTS
I-Flow Corp., Lake Forest, said it won a contract to provide infusion-pump management services to the 1.7 million-member United HealthCare of Oregon … Newport Corp., Irvine, said it had received a $3 million order from an unnamed manufacturer of fiber-optic components … Emergent Information Technologies Inc., Newport Beach, said it had licensed some of its software to an unnamed telecom for $1.2 million … Ingram Micro Inc., Santa Ana, said it will distribute New Jersey-based Net2Phone’s Internet telephone equipment Nexell Therapeutics Inc., Irvine, signed an east Asian distribution deal with Takara Shuzo Co.
