TOP STORIES
Broadcom Corp., Irvine, will acquire Santa Clara-based SiByte Inc. for up to $2.04 billion, depending on future performance; Broadcom CEO Henry Nicholas said the company is “comfortable” with analysts’ fourth-quarter earnings estimates and its shares stabilized after a two-day, 31% slide to 151 3/16 sparked by concerns that Cisco Systems Inc., which reported an inventory backlog, would cut back on chip orders; meanwhile, Gateway Computer has begun including Broadcom home-networking chipsets in its high-end PCs … Santa Ana-based PacifiCare Health Systems Inc. reported slightly better-than-expected third-quarter earnings and its shares were up 41% at 15 1/8 in midday trading Friday on the news; meanwhile, PacifiCare said it will increase premiums 10% to 25% in 2001 and its Secure Horizons unit said it will freeze membership in its Medicare HMO plans in 41 counties nationwide, 24 of them in California … Assa Abloy AB of Sweden will acquire Irvine-based Hughes Identification Devices for about $250 million; a Hughes official said the company’s 240 Irvine employees will be retained and the workforce may be expanded … Assemblyman Bill Campbell, R-Villa Park, was elected Assembly minority leader by the GOP members.
TECHNOLOGY
Newport Beach-based Conexant Systems Inc. said that the head of its Internet equipment unit, Raouf Halim, will become the unit’s CEO when it is spun off, and Conexant chairman and CEO Dwight Decker will be the new company’s chairman (see related story on page 1) … Performplace, Santa Monica, dropped its planned acquisition of Irvine-based Pen Interconnect Inc., citing lack of support among Pen shareholders and an 80% year-to-date decline in Pen’s share price … Ingram Micro Inc., Santa Ana, subpoenaed Yahoo Inc. to obtain the identities of message board users the company alleges disclosed proprietary information … UniComp Inc., Marietta, Ga., acquired California Software Corp., Irvine … FileNET Corp., Costa Mesa, said it expects revenue to increase 20% to 25% next year … Rainbow Technologies Inc., Irvine, was added to the S & P; SmallCap 600 index … Dense-Pac Microsystems Inc., Garden Grove, completed its acquisition of Productivity Enhancement Products Inc., Laguna Hills … Virtual CEO Inc., San Juan Capistrano, received $2 million in funding from a group led by Odyssey Strategic Partners and GenStar … Printronix Inc., Irvine, said it will take a $300,000 charge in the third quarter for the relocation of its RJS unit from Santa Fe Springs to Irvine … John J. Everhart Jr. was named president of the Irvine-based Uniloc division of Houston-based Rosemount Analytical Inc. … A Huntington Beach-built Boeing Delta II rocket placed a Global Positioning System satellite in orbit from Cape Canaveral … Fumes caused the evacuation of 280 workers, 10 of whom were hospitalized after reporting dizziness or vomiting, at Duncan Electronics, Tustin; fire officials said the fumes were foul-smelling but not toxic.
HEALTHCARE
KPC Medical Management, Anaheim, which received a $30 million emergency loan from a consortium of health plans in September, said it is again facing a revenue shortfall and has delayed payments to some doctors, prompting a state investigation … The state Department of Insurance approved a recapitalization of Safeguard Health Enterprises Inc., Aliso Viejo, that will convert creditors John Hancock Life Insurance Co. and Silicon Valley Bank into majority shareholders … Micro Therapeutics Inc., Irvine, received European marketing approval for its brain aneurysm treatment … Techniclone Corp. consolidated its headquarters and research facility into a single building in Tustin, and changed its name to Peregrine Pharmaceuticals Inc. and its stock symbol to PPHM … Richard Badger, former president and CEO of Cypress-based PacifiCare of California, was named CEO of Employer Benefit Services, Irvine, replacing founder James P. Clarke, who becomes COO.
GOVERNMENT
Supervisors voted to develop an Olympic training facility at the former El Toro base and open its indoor pool to the Irvine Novaquatics program, raise fees to cover the costs of upgrading public recreational facilities there, and send Supervisor Chuck Smith to represent the county on the Southern California Regional Airport Authority.
REAL ESTATE
The Building Industry Legal Defense Foundation said it will file a suit that nominally seeks to force the federal government to set aside critical habitat for 98 endangered plant species, in order to gain a place in negotiations over the planned habitat designation … The staff of the state Coastal Commission recommended limiting development on the Bolsa Chica mesa to 60 acres, rather than the previously approved 183 acres; Irvine-based Hearthside Homes want to build 1,235 residential units on the mesa … A two-story harborside office building on Layfayette Avenue in Newport Beach buckled and partially collapsed, but no one was injured.
WHAT’S NEW
The UCI School of the Arts received a $7 million donation from the Claire Trevor Family Foundation and the Donald Bren Family Foundation and the school will be renamed after the late actress, Bren’s stepmother … Disneyland raised its admission prices $2 for adults and children, the second increase this year … Wet Seal Inc., Foothill Ranch, said its fiscal third-quarter earnings will beat forecasts … Barbeques Galore Ltd., Irvine, warned that its third-quarter earnings will lag last year’s … Impac Mortgage Holdings Inc., Newport Beach, said it will stop paying dividends on its common shares while it uses accumulated tax losses to offset future taxable income … Osamah S. Bakhit, former CEO of Aviation Distributors Inc., Lake Forest, was indicted on 21 federal counts alleging he falsified records and statements to obtain a loan and sell stock … Trinity Golf moved its headquarters from Fountain Valley to a 15,000-square-foot Tustin facility.
