Compiled by Mike Mason
Irvine-based Broadcom Corp. filed a suit claiming at least seven former or current workers conspired to steal wireless phone chip designs for a startup, MagiComm Technology Inc., which is headed by Leo Li, senior director of Broadcom’s mobile communications unit until October. Li and the others accused were part of Santa Clara’s Mobilink Telecom Inc., which Broadcom bought a few years ago … Santa Ana-based SRS Labs Inc. licensed its Wow audio technology to South Korea’s LG Electronics Inc. for the electronics maker’s digital music players. Shares of SRS rose 10% to $6.3 on the news. SRS has licensed its audio technology to LG for other electronics since 1996 … VitalStream Holdings Inc. said cofounder Paul Summers resigned as chief executive. The company expects to name a successor by early 2005. Summers will remain on the Internet broadcasting network provider’s board … The Commerce Department said more than 50% of OC households have high-speed Internet access. The study found that 20% of U.S. households have speedy Web connections.
Costa Mesa-based Integrated Healthcare Holdings Inc. said local doctors planned to kick in $20 million to buy about 20% of the company, which has offered to buy four OC hospitals from Tenet Healthcare Corp. Integrated’s offer has been criticized by some doctors because the venture’s principal shareholder, Kali P. Chaudhuri, ran failed KPC Medical Management Inc. KPC folded in 2000 while owing millions of dollars to OC doctors. Integrated has offered to buy Western Medical Center in Santa Ana, Coastal Communities Hospital, Chapman Medical Center and Western Medical Center in Anaheim. Meanwhile, the current and former chiefs of staff at Western Medical Center in Santa Ana asked Orange County Super-visors to look into the sale … Lake Forest-based Apria Healthcare Group Inc. replaced its $400 million credit line with a $500 million revolving loan from several banks led by Bank of America Corp. and Bank of Nova Scotia. Apria said its borrowing costs under the new credit line will save it 75 to 100 basis points.
Chicago’s Pritzker family sold the 1.1 million-square-foot Buena Park Downtown shopping center to Diversified Realty and Coventry Real Estate Advisors for about $91 million. The Pritzkers owned the property through Sunrise Buena Park LP.
Irvine-based Quantum Fuel Systems Technologies Worldwide Inc. offered to buy Goshen, Ind.-based Starcraft Corp. for $185 million in stock and debt. The deal, which needs shareholder and regulatory approval, is expected to close in the first quarter. Starcraft upgrades autos and is set to own about 40% of Quantum when the deal is finalized.
The city of Anaheim will pay consultants Sports Business Group of Redondo Beach and MZ Sports of Mt. Laurel, N.J., up to $125,000 to help prepare its bid for a National Football League team. Anaheim is vying with sites in Carson, Pasadena and downtown Los Angeles for an expansion team. League owners are expected to discuss the four proposals in March, with a vote expected in May … Supervisors voided two environmental reports on building an airport at the former El Toro Marine base. South OC cities had agreed to pull their lawsuits challenging an El Toto airport on the site if the environmental studies were rescinded. El Toro land now is set to be sold for commercial, residential and park development.
Santa Ana-based Corinthian Colleges Inc. sued two former admissions workers who allegedly told students applying to the for-profit operator’s Florida Metropolitan University that they would have trouble transferring their credits to other schools. Five other unnamed people also are being sued. Corinthian said the workers’ claims were unfair and that the school has national accreditation … Anaheim-based Pacific Sunwear of California Inc. named Gerald M. Chaney chief financial officer. He fills the vacant post left by Carl Womack who retired in early fall after 18 years at the company. Chaney was chief financial officer at Polo Ralph Lauren Corp. since 2000 … Foothill Ranch-based Wet Seal Inc. said Allan D. Haims, president of its Wet Seal stores unit, resigned. The struggling teen retailer didn’t name a replacement … Charles Dimon was charged with 65 felony counts after his Irvine and Newport Beach job placement services, Pierce/Talbot and Executive Presence, were accused of taking money from clients but not providing services. Prosecutors say he owes $186,550
