EXECUTIVE SUMMARY
TOP STORY
Arnold Schwarzenegger handily bested Gov. Gray Davis and 135 replacement candidates in the state’s historic recall election.
TECHNOLOGY
Irvine-based Connexion by Boeing and Cedar Rapids, Iowa-based Rockwell Collins Inc. will partner to sell high-speed Internet service to corporate jets. Connexion will provide the Internet devices and service, while Rockwell will install the gear and market the service to customers under the name Collins eXchange. Service is expected to begin in 2005 Costa Mesa-based Emulex Corp. said it plans to buy Bothell, Wash.-based chipmaker Vixel Corp. for $310 million in a cash offer for Vixel shares set to close in November. Vixel has about 115 workers. Emulex also reaffirmed its earnings guidance for the September quarter Irvine-based Quantum Fuel System Technologies Worldwide Inc. won a contract with the U.S. Army to develop a light duty special operations vehicle powered by a hydrogen fuel cell Irvine-based DynTek Inc. bought New Orleans-based security consultant Mormar Technology Inc. for an undisclosed amount.
HEALTHCARE
Orange-based hospital operator St. Joseph Health System joined the managed health care networks of Cypress-based PacifiCare Health Systems Inc. The agreement is the first between the two companies since they ceased doing business together three years ago Foothill Ranch-based nursing home operator Fountain View Inc. changed its name to Skilled Healthcare Group. The company, which moved to Foothill Ranch from Burbank earlier this year, came out of bankruptcy protection this summer Shares of Irvine-based Ista Pharmaceuticals Inc. jumped 27% after the company said the Food and Drug Administration said it would review a second use for Vitrase, a drug that aims to help patients absorb other drugs. Meanwhile, Ista filed to sell up to 4 million shares in a public offering.
REAL ESTATE
The Tustin City Council picked Tustin Legacy Community Partners as master developer for 700 acres of land at the former Tustin Marine Corps Air Station. Tustin Legacy is a venture of Centex Homes, a unit of Dallas-based Centex Corp., and Aliso Viejo’s Shea Properties, part of Walnut-based J.F. Shea Co. Irvine-based New Century Financial Corp. funded a record $8.6 billion in mortgage loans in the third quarter, up 49% versus the second quarter.
ENERGY
Santa Ana-based National Water & Power Inc. said it has identified more than $1 million in potential charges that were improperly billed to landlords. The charges occurred when tenants moved in and didn’t switch power over to their name.
FINANCE
Ronald D. Neese, a former senior director at Costa Mesa-based Experian Information Solutions Inc., was indicted for allegedly accepting more than $250,000 in kickbacks from computer programming vendors who received contracts to help the company prepare for the Year-2000 computer bug. He was indicted on nine counts of mail fraud and one count of conspiracy to launder money.
GOVERNMENT
The KOCE Foundation enlisted more business leaders, upped its bid for PBS affiliate KOCE-TV and warned station owner Coast Community College District that it would face significant costs and legal challenges if it attempted to sell the station to higher-bidding religious stations. Peter Ueberroth, Henry Samueli, John Tu, David Pyott, Dwight Decker and Joel Slutzky all voiced their support for the bid … The proposed 8.5-mile CenterLine light rail project connecting downtown Santa Ana to John Wayne Airport would force about 731 residents and 172 businesses to move, according to the Orange County Transportation Authority The Orange County Board of Supervisors voted to hire Dallas-based First Southwest Co. to study a proposed merger of the financially strapped San Joaquin Hills (73) Toll Road and the better performing Foothill Eastern (241/261/133) toll roads.
WHAT ELSE IS NEWS
Walt Disney Co. said attendance at its theme parks improved in the September quarter and into October. But revenue at the parks, which includes Disneyland in Anaheim, continues to be pressured by promotions and a greater mix of local visitors, the company said … Kathryn Irvine Wheeler, the eldest grandchild of Newport Beach-based The Irvine Company founder James Irvine II, passed away at her home in Corona Del Mar. She was 83 A small-plane accident near Chino took the lives of Paul Mumford Jr. and Chris Premer. Mumford was a Yorba Linda insurance sales executive, while Premer of Costa Mesa was a public-relations executive who worked as communications chief for the Toshiba Senior Classic at the Newport Beach Country Club … Aliso Viejo-based Fluor Corp. received a $102 million order from the Army Corps of Engineers to help rebuild Iraq’s electrical system. As a part of the deal, Fluor will repair or replace power generators in central Iraq, including Baghdad. Meanwhile, Fluor said it also won a five-year contract to help Kuwait Petroleum Corp. manage new oil facilities … Irvine-based Diedrich Coffee Inc. named Marty Lynch as its new chief financial officer. Lynch replaces Matt McGuinness, who continues as the company’s executive vice president of development. Lynch most recently served as chief financial officer of Commerce-based Smart & Final Inc. … Irvine-based restaurant operator Prandium Inc. said it is pursuing the sale of its Chi-Chi’s and Koo Koo Roo chains after the units filed for bankruptcy protection. Beverley, Mass.-based Fuddruckers Inc. has offered $4 million for the Koo Koo Roo restaurants Costa Mesa-based Ceradyne Inc., a maker of military armor and other ceramic-based products, said its third quarter sales should beat Wall Street expectations by 23%. The company expects to post sales of $27 million, versus $14.3 million a year earlier, when it reports Oct. 29. Meanwhile, Ceradyne said it is wrapping up its $2.4 million buy of a 115,000-square-foot plant on six acres in Lexington, Ky. The company plans to make diesel engine components and other silicon nitride parts at the plant John Wayne Airport passenger traffic rose 14.3% to 693,273, versus a year ago.
