Rancho Mission Viejo unveiled a plan for its 25,000 undeveloped acres that envisions 14,000 homes in planned communities that also would include schools, shopping centers and other amenities, as well as the preservation of 14,000 acres as permanent open space Ford Motor Co. officially opened its North American headquarters for the Premier Automotive Group in Irvine The Federal Reserve Board lowered the short-term interest rate by a half-point, to 2%, its lowest level since 1961 Major League Baseball owners voted to eliminate two unspecified teams before the 2002 season, and speculation centered on a contraction in which the owners of one of the teams to be bought out would in turn buy the Anaheim Angels from Walt Disney Co. New Century Financial Corp., Irvine, filed to sell up to $2 billion in mortgage-backed securities House2Home Inc., Irvine, filed for bankruptcy and will liquidate its assets and close all its stores.
ENERGY
The United States Justice Foundation sued to nullify $43 billion in state energy-purchase contracts, alleging the state employed negotiators with conflicts of interest.
TECHNOLOGY
Odetics Inc., Anaheim, promoted chief operating and financial officer Greg Miner to chief executive, replacing founder Joel Slutzky, who remains chairman Eaton Corp.’s Irvine-based aerospace unit won a contract from Lockheed Martin Corp. to supply hydraulic systems for the Joint Strike Fighter DispenseSource, Rancho Santa Margarita, named former Ingram Micro Inc. exec Douglas R. Antone president and chief executive, replacing co-founder Jeff Chavez, who becomes executive VP Susan Parks resigned as senior VP of Poway-based Gateway Inc. Board member Safi Qureshey and company executives were named in a shareholder suit filed against NextCard Inc., San Francisco.
HEALTHCARE
NeoTherapeutics Inc., Irvine, licensed an experimental treatment for non-Hodgkin’s lymphoma from Bristol-Myers Squibb Co. and said it will begin second phase trials soon Dispensing Solutions Inc., Santa Ana, partnered with ePhysician Inc. to create a system to allow doctors to prescribe electronically on a handheld computer.
GOVERNMENT
California State University, Fullerton, signed a lease agreement with the county to open a satellite campus on the former El Toro base University of California, Irvine, Chancellor Ralph Cicerone ordered a hiring freeze at the campus; meanwhile, UCI said it may shut down its 32-year-old nuclear reactor because of declining use by researchers; UCI also renamed its Biosciences II building McGaugh Hall, to honor founding faculty member James McGaugh Caltrans dropped its demand that a $100 million wetlands-restoration plan for the Bolsa Chica include a six-lane bridge over a proposed ocean inlet, clearing the way for Coastal Commission approval of the project this week The Anaheim City Council named Assistant City Manager David M. Morgan to succeed retiring City Manager James D. Ruth on Dec. 29
… The U.S. Environmental Protection Agency has earmarked $1 million to help upgrade Laguna Beach’s aging sewer system (see related story on page 3) Stanton voters approved a 5% utility tax to fund police and community programs The Board of Supervisors authorized the hiring of the Newport Beach-based Robinson Calcagnie & Robinson law firm to help the District Attorney’s Office prosecute an environmental lawsuit against more than 300 county gas stations The Board of Supervisors voted to extend the life of the Prima Deschecha landfill in San Juan Capistrano to 2065 Dana Point Harbor Manager Bruce Hampton was terminated last week by the county. .
REAL ESTATE
The 375-room Embassy Suites Hotel Anaheim-South opened in Garden Grove.
FINANCE
Pacific Investment Management Co., Newport Beach, said it plans to buy U.S. corporate bonds in the next six months and sell “duration” bonds (see story on page 10) The state Supreme Court ruled that insurers can be sued for failing to cover damage overlooked by adjusters past the one-year deadline for denial-of-claim actions.
WHAT ELSE IS NEWS
The Disneyland Resort began a discount offer to Southern California residents on admission to Disneyland and California Adventure The Doll Hut, Anaheim, which was closed in August, reopened under new ownership. The Disneyland Resort began a discount offer to Southern California residents on admission to Disneyland and California Adventure The Doll Hut, Anaheim, which was closed in August, reopened under new ownership.
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