TOP STORIES
Times Mirror Co., parent of the Los Angeles Times, agreed to be acquired by the Tribune Co. for $6.46 billion (related story, page 8) … Ford Motor Co. said it will acquire Land Rover from BMW Group and move its North American HQ to Irvine … TRW Inc. said it will close its Brea plant, move about 50 employees to a nearby office and eliminate the remaining 160 jobs … Premier Laser Systems Inc., Irvine, filed for bankruptcy … Simple Technology Inc., Santa Ana, said it hopes to raise $57.5 million in an IPO Gish Biomedical Inc., Irvine, said CEO James R. Yarter and three board members had resigned for personal reasons and board member John W. Galuchie Jr. had been named interim CEO and chairman … Chicago Title Corp. said it had agreed to accept a lower price in its acquisition by Irvine-based Fidelity National Financial Inc., which was expected to close this week … Steadfast Properties, Newport Beach, acquired 5 acres on Birch Street in that city and contracted with McCarthy to build 100,000 square feet of offices, 22,000 square feet of which will be occupied by McCarthy … Ezralow Retail Properties LLC terminated the leases of the remaining tenants of Huntington Beach Mall as of April 30 and said it will begin demolition by summer in preparation for building an Italian-themed entertainment center … Backers of the proposed $130 million Gotcha Glacier project in Anaheim pushed back its projected opening from next year to 2002, submitted revised plans and said they were close to signing Sport Chalet and Jillian’s as tenants.
DEALS
Boeing Co. said it will sell 48 acres of undeveloped land next to the Seal Beach HQ of its space and communications division … Meade Instruments Corp., Irvine, received a contract to supply optical products to Seattle-based TeraBeam Networks; Meade shares rose 77% on the news … Premier Laser Systems Inc., Irvine, sold intellectual property to Florida-based LaserSight Inc. for $4 million … U.K.-based Tadpole Technology plc acquired Irvine-based Endeavors Technology Inc. for $3.3 million … Aspeon Inc., Irvine, acquired Monument Software Corp., Needham, Mass., for $3 million … Conexant Systems Inc., Newport Beach, said it completed its acquisition of Massachusetts-based Maker Communications in a deal valued at $1 billion back in December … First American Financial Corp., Santa Ana, acquired two units of Property Data Systems, Atlanta … Opal Concepts Inc., Anaheim, acquired the Texas region of its Fantastic Sam’s salon chain … Quick Pix Inc., Buena Park, said it had ended merger talks with Yarc Systems Corp. Bergen Brunswig Corp., Orange, signed a supply contract with BuyMedical.com, Aliso Viejo … Smith Micro Software Inc., Aliso Viejo, received a contract to develop a wireless access system for the online Pillsbury Doughboy Shop; Smith also received a patent for a video e-mail system … St. Joseph Health System, Orange, and Health Net agreed on a new multiyear contract.
FINANCIAL
Irvine-based Autobytel.com Inc. founder Pete Ellis filed to sell up to 18% of his stake in the firm … Interpore International Inc., Irvine, said it hopes to raise $40.6 million in a sale of shares that would raise its total outstanding by about 26% … I/OMagic Corp., Irvine, received a tentative $15 million commitment from IBM Credit Corp. … Micro Therapeutics, Irvine, said it raised $11.9 million in a private placement … TradePortal.com, Irvine, said it hired Chase H & Q; as its investment bank and was pursuing the sale of a minority stake … Odetics Inc., Anaheim, said it expects to spin off its Iteris Inc. unit this week … Moody’s Investors Service upgraded its outlook for Fullerton-based Beckman Coulter Inc. … Standard & Poor’s lowered its ratings of the debt of Santa Ana-based Ingram Micro Inc. Irvine-based Foreshock Inc. received a $1 million investment from Onyx Software Corp.
WHAT’S NEW
Mazda Motor Corp. said it will consolidate its U.S. planning and design division with its engineering and manufacturing division in Irvine … A Long Beach-based Sea Launch rocket failed to put into orbit a London-based ICO Global Communications satellite, which was lost … Garden Grove-based Hycor Biomedical Inc. received FDA approval to market a test for rheumatoid arthritis; its shares rose 35% on the news … Tickets.com Inc., Costa Mesa, and At Home Corp. said they will jointly develop an online event-ticketing venture … Nexell Therapeutics Inc., Irvine, received a patent for an in-vitro method of growing specialized white blood cells.
PERSONNEL
Koll Development Co., Newport Beach, named former Newport Beach-based Donahue Schriber Realty Group exec Bryan W. McGowan CFO and exec VP … CFO Shane H. Traveller was named president and COO of Trimedyne Inc., Irvine, replacing Dean Crawford, who will focus on new-product development … Wyle Electronics, Irvine, named CFO Simon Biddiscombe to the additional post of COO.
GOVERNMENT
Newport Beach and two pro-El Toro airport groups sued to block implementation of the anti-airport Measure F approved in the March 7 primary (see items page 5, 66); Jeffrey Metzger resigned as chairman of the anti-El Toro airport Citizens for Safe and Healthy Communities and was replaced by Bill Kogerman … The operator of the 91 Express Lanes said it will raise tolls this month … The Nuclear Regulatory Commission extended for nine years to 2022 operation of Units 2 and 3 at San Onofre Nuclear Generating Station.
LITIGATION, INVESTIGATIONS
Investigators found hazardous materials, including potassium cyanide, in a storage locker rented by the late Dr. Larry C. Ford of Biofem Inc. … A federal judge ordered Broadcom Corp. not use trade secrets it may have obtained by hiring former Intel Corp. workers, pending a trial on Intel’s suit against the Irvine chip maker Two of four men charged with falsely billing the Irvine Ranch Water District for more than $2 million pleaded guilty and agreed to pay restitution … French designer Agnes Trouble sued Foothill Ranch-based Wet Seal Inc. alleging trademark infringement by the firm’s Arden B. chain … Time Warner Communications agreed to lower its basic cable service rate 7% to settle a pricing dispute with four west OC cities.
IN CONCLUSION
UC Regents fired UCI prof Dr. Sergio Stone, a key figure in the 1995 fertility scandal Mag Instrument Inc. founder Anthony Maglica agreed to pay $29 million to settle a palimony suit in OC Superior Court … Knott’s Berry Farm sued Ohio-based Togo International, the maker of its $9 million Windjammer roller coaster, alleging design flaws that cause frequent breakdowns and force its closure even in light winds.
