Anaheim’s Planning Commission gave preliminary approval for Miami-based Lennar Corp.’s 2,681-home development set for 41 acres in the city’s Platinum Triangle. The City Council is expected to vote on the development, which includes high-rise condominium towers and townhomes, on Sept. 27 Huntington Beach-based Quiksilver Inc. said it plans to consolidate its burgeoning ski operations at a new center in Park City, Utah. The facility, called Mountain Center, will house the U.S. operations of Quiksilver’s Rossignol, Dynastar, Lange and Look units. It also will be home to the company’s Roxy ski business targeting young women. The move comes after Quiksilver recently wrapped up its $312 million buy of France’s Skis Rossignol SA. The U.S. operations for Rossignol and Dynastar currently are based in Vermont. Quiksilver said it would cost about $5 million to move the units to Park City. The company expects to sell the Vermont operations, which are valued at more than $4 million. The surfwear maker said its net profit in the quarter grew 26% to $25 million on an 11% gain in sales to $374 million William “Bill” Collopy Jr. is retiring as head of operations for Boeing Co.’s Seal Beach-based Southern California operations. Gary Toyama, former deputy to the vice president of Boeing’s St. Louis-based Integrated Defense Systems unit, was named as Collopy’s replacement. Toyama, who earned a master’s in business administration at the University of California, Irvine, will be responsible for leading seven Boeing sites that employ nearly 32,000 people in Southern California, including about 12,000 workers in Anaheim, Huntington Beach, Seal Beach and Irvine.
Fountain Valley-based Kingston Technology Co. said it opened its 250,000-square-foot plant in Shanghai’s Pudong “Silicon Harbor.” The site could be expanded by 150,000 square feet. Kingston started building the plant in early 2004. The site more than triples Kingston’s capacity to make memory modules in China Aliso Viejo-based Vue Technology, an inventory tracking software company, said it was bought by Canaan Partners and Partech International for an undisclosed amount. Vue Technology is a unit of Stamford, Conn.-based MeadWestvaco Corp.
Lake Forest-based Cooper Cos. said its profit jumped in the quarter ended July 31, assisted by a big acquisition and stronger sales of its disposable contact lenses and lenses for patients with dry eyes. Cooper posted a profit of $56.9 million in the quarter before onetime acquisition and restructuring charges. Cooper’s quarterly revenue was up 72% to $222 million, versus a year ago. The company’s results were aided by its $1.2 billion acquisition of Ocular Sciences Inc. earlier this year Advanced Medical Optics Inc., Santa Ana, said that the Food and Drug Administration approved its latest laser medical device to treat nearsighted patients with astigmatism. Advanced Medical said the approval of its Star S4 IR excimer laser improved the company’s CustomVue procedure, which treats myopia and astigmatism Lake Forest-based InSight Health Services Corp. said that it plans to sell $250 million in debt in a private offering. Privately held InSight said it would use proceeds to repay its existing debt along with general corporate purposes Irvine-based IntraLase Corp. said the Food and Drug Administration approved expanded use of a laser for use in corneal transplants. The clearance allows IntraLase’s so-called “FS30 femtosecond” laser to be used for deep corneal incisions and the surgical removal required for corneal transplants.
Irvine’s New Century Financial Corp. nearly doubled its loan volume in August to $6.1 billion versus a year ago. Loan volume was up 33% from July’s $4.6 billion. The subprime mortgage lender said its results were aided by extra selling days in the month and expectations for more rate hikes. New Century said its September loan volume likely would return to more normal levels Irvine-based Standard Pacific Corp. said it bought San Antonio’s Eagle Valley Homes for undisclosed terms. The buy gives Standard Pacific 5,500 lots to build on.
Indiana-based Irwin Financial Corp. said it plans to open an independent bank unit in Orange County. The local bank is set to be called Irwin Union Bank and have its headquarters in Costa Mesa.
Steven Haskell, 53, passed away. Haskell was partner and cofounder of the Irvine-based tax firm Haskell & White LLP. He died after a 14-month battle with cancer … Newport Beach-based Collectors Universe Inc. said it wrapped up its buy of Certified Coin Exchange and a related business. Collectors Universe, which values and authenticates coins, trading cards and other collectibles, said it paid $2.2 million for the company. Certified Coin operates a subscription-based, dealer-to-dealer Internet market for certified coins.
ECONOMIC INDICATORS
Mixed: Orange County’s housing affordability index in July, with the percentage of residents able to afford a median-priced home at 11%, the same as a year ago, according to the California Association of Realtors. The index is based on a median price for detached homes of $706,820, up slightly from June and 9% higher than a year ago.
