AFTERMATH IN OC
Many OC companies closed for the day Tuesday in the wake of the terrorist attacks in New York and Washington, D.C., and the subsequent suspension of air service stranded many OC businesspeople in other parts of the county and forced companies to seek alternative means of distribution (see related coverage on pages 1, 11, 74, 75) Chris Newton, chief executive of Work/Life Benefits, Cypress, was among those killed when American Airlines flight 77 was hijacked and crashed into the Pentagon U.S. stock exchanges closed Tuesday morning in the wake of the attacks and were set to reopen Monday The Disneyland Resort and Knott’s Berry Farm closed for two days in the wake of the terrorist attacks, and five conventions slated for the Anaheim Convention Center were canceled.
TOP STORIES
Fujitsu Ltd. said it will close its 762-employee Irvine-based Fujitsu Business Communications Systems Inc. unit Newport Corp., Irvine, will lay off an additional 170 to 190 workers and close plants in Garden Grove, San Luis Obispo and Longmont, Colo.; some jobs will be shifted to Irvine Pacific Cycles won a bankruptcy auction for Schwinn and its Santa Ana-based GT division with a bid of $86 million, after which Huffy Corp. dropped out.
TECHNOLOGY
Interplay Entertainment Corp., Irvine, was preparing to overhaul its board and senior management, and negotiations with a suitor had ended, the Times reported NQL Inc., Irvine, canceled a proposed reverse stock split and said it expects to be delisted from Nasdaq; the company also promoted chief technology officer David Pallmann to president and chief financial officer, replacing in the latter post Robert Riiska, who resigned in July.
HEALTHCARE
N/C Industries, Brea, will build a new, larger headquarters in Temecula.
GOVERNMENT
The Local Agency Formation Commission approved the annexation of the 7.6-square-mile Newport Coast area by Newport Beach, effective Jan. 1 The Orange County Planning Commission voted to approve an environmental report on a proposed airport at the former El Toro base; meanwhile, a UCI poll of OC residents found 36% in favor and 54% opposed to a scaled-down airport plan for the former base at El Toro, and 62% in favor and 31% opposed to an initiative to mandate a park and open space there The Orange County Transportation Authority board agreed to consider buying the 91 Express Lanes along with other alternatives for improving the Riverside (91) Freeway corridor County officials want to expand the size and life span of trash dumps in Brea and Irvine, but officials of those two cities are resisting the move A Superior Court judge reversed his earlier ruling in a case brought by John Johnson, owner of four Lucky John’s bars in OC, and said the state’s ban on smoking in bars is constitutional Caltrans estimated it will cost $13.3 million to replace 38 defective storm-drain filters along the San Joaquin Hills (241) Toll Road The county is preparing to require at least some restaurants to install and maintain grease interceptors The Laguna Beach Unified School District board approved benefits for unmarried partners of some employees.
REAL ESTATE
An oceanfront home in Laguna Beach sold for $16.5 million to an unnamed buyer who is selling his current home in the city for $11.5 million.
WHAT ELSE IS NEWS
Quiksilver Inc., Huntington Beach, warned that its current-quarter earnings will not meet expectations and its share price fell 16% to 15.90 on the news (see related story on page 6) Bankrupt Edwards Theatres Circuit Inc., Newport Beach, closed the Lido theater and the Fritz Duda Co., owner of the Via Lido Plaza where the theater is, said it is seeking a new operator and refurbishing the interior A former student sued St. Bonaventure Catholic school in Huntington Beach for $3 million, alleging he was unfairly disciplined and prevented from enrolling in the eighth grade for allegedly breaking a cookie at a bake sale.
