Compiled by Mike Mason
Irvine-based business software maker Epicor Software Corp. said it bought Newburgh, N.Y.-based CRS Retail Systems Inc. for $121 million in cash. CRS provides software to retailers such as Coach Inc. and Barnes & Noble Inc. Epicor bought CRS from Menlo Park-based private equity firm Accel-KKR LLC. The company said it expects CRS to add to profits next year and bring about $70 million in added sales for 2006 … Irvine-based computer maker Gateway Inc. won a round in court in its patent battle with rival Hewlett-Packard Co. The International Trade Commission backed Gateway’s appeal of a ruling that said it violated HP parallel port patents. The case will be reviewed by an administrative law judge A judge said three patents held by Newport Beach-based Acacia Research Corp. could be indefinite, meaning the company may no longer be able to collect licensing fees from them. Acacia, which holds patents related to Internet-based digital transmission, plans to appeal the ruling Lake Forest-based FutureTrade Technologies Inc. was among five companies that paid money to the Business Software Alliance, which accused them of having unlicensed Adobe, Borland and Microsoft software on workers’ computers. FutureTrade paid $54,136.97 to the alliance.
Medical scanning company Alliance Imaging Inc. of Anaheim said soft business from hospitals, cost management efforts by insurers, an oversupply of imaging services, rising fuel costs and even the lingering effects of Hurricanes Katrina and Rita would impact the company in 2006. Alliance said it expects revenue of $428 million to $438 million next year. Earnings before interest, income taxes, depreciation, amortization and other items could come in at $138 million to $146 million Lake Forest-based Cooper Cos. said its CooperVision contact lens unit has set up marketing, distribution and administrative operations in Singapore and Malaysia. Cooper also opened a corporate office in Singapore.
Orange’s Planning Commission approved a 403-unit condominium project at The Block at Orange. Developer the Mills Corp. also hopes to build a pair of hotels and shopping on the site Irvine-based subprime mortgage lender New Century Financial Corp.’s loan volume was $5.1 billion in November, up 42% from a year ago. The total includes loans made by its recently acquired RBC Mortgage Co. operation. The real estate investment trust, which saw its income fall in the third quarter, said it has been boosting the interest rate on the loans it makes to protect profits in the wake of rate increases by the Federal Reserve Board.
Seal Beach-based Clean Energy Fuels Inc. said it paid more than $14 million to buy a liquefied natural gas plant from Applied LNG Technologies USA LLC. The Willis, Texas, plant, which can produce up to 100,000 gallons of natural gas per day, includes truck loading facilities and a 1 million-gallon storage tank. Clean Energy also bought five tanker-trailers to deliver gas.
Pan American Financial LP, which is largely controlled by investor Guillermo “Bill” Bron, plans to sell a $74 million stake in Newport Beach-based United PanAm Financial Corp. Bron is chairman of United PanAm, which makes and buys auto loans for borrowers with imperfect credit. The buyer wasn’t disclosed.
John Campbell, a Republican state senator out of Irvine, handily won the special election for Chris Cox’s former House of Representatives seat. Cox vacated the seat to head up the Securities and Exchange Commission A report by the Transportation Corridor Agencies recommends that the 16-mile extension of the Foothill (241) Toll Road be built through part of San Onofre State Beach. The toll road would link Oso Parkway in Rancho Santa Margarita to the coast at the Camp Pendleton Marine Corps base. Eight route options were considered. The Transportation Corridor Agencies’ pick needs to be approved by several regulatory groups, including the Coastal Commission. Environmentalists vowed to fight the recommended route.
Chapman University said its 2006 economic forecast calls for OC to add 20,000 jobs in 2006, a 1.4% increase versus this year. That’s lower than the 1.7% growth expected in 2005. Home prices are expected to fall 4.2% next year Power steering parts maker China Automotive Systems Inc. signed a pact with Irvine-based Sensor System Solutions Inc. to make and distribute air pressure sensors for an India-based automaker. Terms of the deal were not disclosed. China Automotive said it expects to begin production in late 2006, with 200,000 units in 2007 and up to 1 million by 2010. The companies already have an agreement to distribute sensors in China as part of a venture called Universal Sensor Inc. Newport Beach consultancy SM & A; Corp. said it named Steve Handy as chief financial officer. Handy replaces Cathy McCarthy, who was promoted to chief operating officer Greg Creed, chief marketing officer of Irvine-based Taco Bell Corp., was tapped to be chief operating officer of the Mexican fast-food chain’s parent, Yum Brands Inc. of Louisville, Ky. Taco Bell marketing executive Bill Pearce was named as Creed’s replacement The Anaheim Arena said it’s close to finalizing a deal with Anschutz Entertainment Group to bring some 50 concerts, sports events and other entertainment a year to the arena. An Anaheim City Council vote is set for Dec. 20 A legendary supplier of foam to surfboard makers has closed shop. Laguna Niguel-based Clark Foam shuttered after 44 years in business. Owner Gordon “Grubby” Clark said federal and state regulation requirements doomed his shop, which is a key supplier of polyurethane foam blanks to more than 60% of U.S.-based surfboard makers.
