Compiled by Mike Mason
TOP STORY
Anaheim Angels’ owner Arturo “Arte” Moreno changed the American League’s team name to “Los Angeles Angels of Anaheim.” Anaheim city officials filed for a temporary restraining order banning the change. The case was set to be heard late last week … Teen retailer Wet Seal Inc. said it planned to cut 2,000 workers and close 150 stores, including ones at Laguna Hills Mall and The Shops at Mission Viejo. The Foothill Ranch-based retailer hired a liquidator who is expected to sell off the stores’ inventory by the end of February. The company operates 463 Wet Seal stores and 96 Arden B. stores. It has about 5,000 workers. Wet Seal shareholders are set to vote on a $56 million funding plan Jan. 10 … Irvine-based Broadcom Corp. signed a blockbuster $183 million lease with The Irvine Company for 685,000 square feet of space in eight buildings at University Research Park near the University of California, Irvine. The 10-year, two-month lease is set to begin in 2007 when the first two buildings are expected to be finished. Broadcom will move from the Irvine Spectrum when the buildings are ready … The online auction of some 3,700 acres at the former El Toro Marine base in Irvine got under way.
Laguna Hills-based Interchange Corp. wrapped up a $15 million sale of stock to institutional shareholders. The paid Internet search company plans to use the money to fund expansion … Irvine-based Newport Corp. said a goodwill write-down at one of its units will drive a deeper than expected loss in the fourth quarter. The company expects to post $65.5 million in charges related to its Advanced Packaging and Automation Systems division, along with other charges … Irvine-based Interplay Entertainment Corp. signed a deal to publish and distribute Israeli game maker Majorem Ltd.’s “Ballerium” exclusively. The multiplayer online strategy game is expected to launch by summer … Yorba Linda-based netGuru Inc. got $1 million in funding from New York-based private equity fund Laurus Master Fund Ltd. The financing is backed by a three-year convertible note.
Lake Forest-based Cooper Cos. closed its acquisition of Concord-based rival Ocular Sciences Inc. for $1.2 billion … Irvine-based Allergan Inc. launched sales of a non-prescription cream to prevent wrinkles and exposure to the sun, smoking and pollution. The treatment, Prevage, is sold by dermatologists and plastic surgeons … Irvine-based Spectrum Pharmaceuticals Inc. filed its seventh generic drug application with the Food and Drug Administration … Aliso Viejo-based SafeGuard Health Enterprises Inc. said it plans to buy General Electric Co.’s dental and vision health plan businesses in California. Terms weren’t disclosed … Cypress-based PacifiCare Health Systems Inc. got federal approval to sell its Secure Horizons Medicare HMO in Colorado’s Fremont County. There are about 8,500 Medicare-eligible residents in the county who could tap PacifiCare’s plan.
Residents of the El Morro mobile-home park lost a bid to halt their pending evictions. A judge ruled the state can go ahead with plans to shutter the 296-home park next to Crystal Cove State Park south of Newport Beach by March 31 to make way for a campground and other public park operations.
Costa Mesa-based Commerce Energy Group Inc. said it settled a suit by paying $1.2 million to a former director and a shareholder who sought to stop the company’s reorganization.
Orange County Supervisors elected former state assemblyman Bill Campbell as chairman.
Huntington Beach-based Quiksilver Inc. said it’s in talks with France’s Skis Rossignol SA to acquire the company. The maker of ski clothes and other winter sports products saw its shares spike 15% on Monday on speculation of a buyout by Quiksilver … Newport Beach-based Water Pik Technologies Inc. said it hired J.P. Morgan Securities Inc. to explore strategic alternatives for the company, including a possible sale … Finbarr O’Neill quit as chief executive of Cypress-based Mitsubishi Motors North America Inc. to take over at Dayton, Ohio-based The Reynolds & Reynolds Co., a maker of accounting and payroll software for auto dealers. Mitsubishi named Rich Gilligan, president of North American manufacturing, as O’Neill’s replacement … Nike Inc. said it planned to close its NikeTown store at Triangle Square in Costa Mesa by the end of the month … Dirk Inc. said it would nix its offer to buy Santa Ana-based Troy Group Inc. if a group of minority shareholders continued to challenge the buyout offer. Dirk is headed by Troy Chief Executive Patrick Dirk and his family. Meanwhile, Troy said it’s withdrawing its five-year forecasts because it expected a general decline in the use of checks … Walt Disney Co. raised admission prices to Disneyland and California Adventure in Anaheim by $3.25 to $53 for adults and $43 for kids. Southern California residents can get a ticket for admission to the two theme parks on different days for the price of one ticket.
