OC 50 – INDUSTRY and SERVICES
Tara Owens Balfour
President, California Commercial Banking
President, Bank of America Orange County
Born in Peoria, Ill., Dec. 5, 1962
Lives in Newport Beach
Public face of Orange County’s biggest bank with $9 billion in local deposits, nearly 90 branches. Heads up statewide commercial banking from here.
Looking to add new branches in OC, expand premier banking, mortgage, asset management and region’s small business sales force. Key focus: adding new customers, retaining old ones.
As OC president, handles premier, private banking, small business, 87 branches, in-store centers, more than 5,000 workers. Also oversees BofA’s middle-market commercial, government clients statewide from OC base. Facing challenge from Wells Fargo for key government accounts.
Big corporate citizen. BofA, its foundation directed $2 million in grants, charitable matching gifts, sponsorships to OC nonprofits in 2002. Pledged $2 million to Performing Arts Center expansion. Balfour on arts center executive board, UCI Chief Executive Roundtable, Cal State Fullerton dean’s advisory board for college of business and economics.
Seasoned veteran in changing industry. Started career with Bank of America 18 years ago, knows bank inside and out.
Two big career breaks. In 1992, offered job building West Coast middle market leveraged finance group in Los Angeles. Led team for six years on leveraged buyouts, acquisition financing, recapitalizations for mid-market companies.
Second break came in 2000, when promoted to commercial banking strategies executive for California, having statewide oversight of bank’s largest mid-market commercial relationships. Went from managing Bay area commercial banking team to leading five teams across the state with five times the revenue, profit impact. Role expanded in 2001, taking on rest of the bank’s middle market business in state.
Management style is to inspire, not order. Ethics, integrity are key. Fire violators, she says, regardless of productivity, profitability. Speed queen: “Go for 90% solution and make tough choices, because waiting for all the facts means losing business. Speed and simplicity equal profitability,” she says.
Married to Bill, who also works for Bank of America as senior vice president, manager of Southern California homebuilder division. Two children, daughter, 7, son, 5. Enjoys golf, reading, hanging out with kids.
,Sherri Cruz
ALAN J. BELL
CEO, President,
Freedom Communications Inc.
Born in Boston, 1932
Lives in Pacific Palisades
N. CHRISTIAN ANDERSON III
Publisher, CEO,
The Orange County Register
Senior Vice President,
Freedom Communications Inc.
Born in Idaho, Aug. 4, 1950
Lives in Coto de Caza
In hot seats at Orange County’s dominant media company.
Bell took over as CEO in August after former OC 50er Sam Wolgemuth resigned under pressure for higher profits from shareholder-heirs of libertarian Raymond Cyrus “R.C.” Hoiles. Anderson top gun at flagship Orange County Register since 1999.
Bell: TV veteran, consensus choice of fractured board now soliciting bids for the company. Company center of speculation, valued at ballpark $2 billion. “The book” about to go out to bidders. Gannett seen as frontrunner.
Among others in the running: MediaNews, McClatchy, E.W. Scripps, Pulitzer, Lee Enterprises, Belo.
Third chief executive in 10 years who doesn’t have a background in newspapers, which accounts for 75% of Freedom’s revenue.
Taking fearless approach to the job. Famous for frankness, one-liners. Scoffs at sale speculation, says the family may work something out to retain ownership. Makes clear he’s not an interim CEO, despite his age and potential sale.
Continues to scrutinize costs. Had some layoffs last year, restructuring, including consolidation of technology staff.
Besides the Register, Freedom has 27 other dailies, 37 weeklies, eight TV stations.
An internal letter shows Freedom in 2002 had earnings of $169 million before factoring in interest expense, taxes, depreciation, amortization. Revenue of $784 million. Chairman David Threshie termed financial performance “middle of the pack” vs. peers. Profits from continuing operations apart from writeoffs was up 45% in 2002 and targeted to grow another 20% this year, Bell says.
Former head of company’s television division, which included five CBS, three ABC affiliates. Joined Freedom in 1989. Before that, was president of the Lorimar Broadcast Group in Hollywood; VP, general manager of KTVU-TV in San Francisco and KYW-TV in Philadelphia. Earlier was assistant general manager of WNEW-TV in New York, KTTV-TV in Los Angeles.
Boston native who attended Harvard. Got professional break in 1970 when became general manager of WJZ-TV in Baltimore, then an ABC affiliate.
Wife Sally was Miss Sally on TV’s “Romper Room,” later president of Claster Television, now runs her own kids programming company.
Anderson, publisher of Orange County Register, also heads other OC ventures under Freedom Orange County Information flag, and Freedom Metro Information, which consists of company’s biggest papers: Register, Gazette in Colorado Springs, Phoenix area papers in Mesa, Sun City. Register’s average paid daily circulation for six months ended March 30 was 300,888, Sunday was 367,119.
Register accounted for 36% of Freedom’s revenue last year, but only 24% of its EBITDA, according to Freedom sources. Register’s revenue in last year’s tough media environment was flat, at about $285 million, while EBITDA was $40 million, up from $15 million from 2001 and achieved mostly through print-cost savings, job reductions, employee buyouts.
Anderson says paper must “accelerate” performance to meet “expectations” of Bell, shareholders. Last fall, cut about 35 jobs, froze most salaries.
Sale of Freedom could mean big changes to editorial pages at Register, other staunchly libertarian papers.
Joined Register as editor in 1980 from Seattle Times. Pushed reader-friendly concepts such as bright graphics, shorter stories, upgraded editorial content. Won OC war vs. L.A. Times.
Named 1988 editor of the year by National Press Foundation, 1993 California newspaper executive of the year by California Press Association. Reassigned in 1994 to be publisher of Colorado Springs Gazette, Freedom’s third largest newspaper. Past president of the American Society of Newspaper Editors.
Wife Aletha, four kids. Likes reading, skiing.
,Jennifer Bellantonio
ALAN LEE BOECKMANN
Chairman, CEO, Fluor Corp.
Born in Bisbee, Ariz., June 15, 1948
Lives in San Juan Capistrano
Tough end to first year running engineering, construction powerhouse.
Company last month lost a $680 million pact to rebuild Iraq’s roads, electricity grid and other basics, with archrival Bechtel grabbing the work.
Not all’s lost. Now hoping to grab pact to repair Iraq’s oil fields, though faces tough competition from Haliburton, Bechtel. Sees work as “absolutely right up our alley,” since company already is Kuwait, rebuilding a fire-damaged refinery and an oil-processing plant. Work could be worth as much as $5 billion.
Tough going elsewhere in the world. Work in Brazil, Argentina, elsewhere in Latin America has ground to a halt. Power plant building off from 2001’s heady pace. Overall backlog heading into 2003 was $9.7 billion, down 16% from a year earlier.
Local bright spot: won a $200 million pact as construction manager on Performing Arts Center expansion.
Things also good on Wall Street. Shares up some 60% from October, even with Iraq loss. Last year saw 33% gain in profit from continuing operations, which hit $170 million on revenue of $10 billion, up 11%.
Last year sold technology staffing unit and S & R; Equipment operation. Beefing up government services operations,”relatively stable” work could offset global shortfall. Made first buy recently, Rolling Hills Estates-based Del-Jen for about $50 million. Company does military base maintenance, training for Labor Department.
Tapping Philippines, India, Poland, for lower-cost engineers who work on computer designs, other projects. Savings of up to 15%, a “core competitive advantage,” he says.
Less formal than predecessor Philip J. Carroll Jr., who’s now on short-list to oversee rebuilding of Iraqi oil industry. Not into hierarchy: one of first tasks as CEO was to paint over “reserved” parking signs in company lot.
Has vast industry experience, knowledge of Fluor’s operations. Joined Fluor in 1974 as a field engineer, held various management jobs, including in California, Texas, South Carolina, South Africa, Venezuela.
Before becoming president, COO in January 2001, was president, chief of Fluor Daniel, company’s engineering, construction behemoth. Previously headed several Fluor Daniel units, including energy and chemicals. Prior to that, served as vice president of business unit that formed DuPont alliance.
Director, Burlington Northern Santa Fe, American Petroleum Institute, Business Council for International Understanding. Member, National Petroleum Council, Business Roundtable. Graduated from University of Arizona with bachelor’s in electrical engineering. First job was as paperboy.
Wife Judy, four children. Enjoys spending time with family, golf, reading, visiting art galleries.
,Chris Cziborr
Emil John Brolick
President, Chief Concept Officer,
Taco Bell Corp.
Born Oct. 26, 1947
Lives in Coto de Caza
Credited with reversing declining sales at Irvine-based Mexican fast food chain.
Last year helped drive parent Yum! Brands with 7% gain in sales at restaurants open at least a year. Offset a flat showing by Louisville, Ky.-based Yum’s dominate chains, KFC, Pizza Hut.
Now showing signs of succumbing to broader fast food slowdown. Same-store sales flat in first quarter.
Recruited from Wendy’s, bent on repositioning brand. Using tactics honed at Wendy’s: boosting quality, making restaurants cleaner, bettering service, launching new products, raising prices. “Price alone has never worked,” he says, citing Yugo car.
Yum bosses are happy, praise Brolick for jumpstarting chain.
Improved drive-through speed, closed unprofitable locations, opened new restaurants serving food from other Yum chains too. More than 1,300 restaurants rated “D” and “F” by independent reviewer boosted to “A,” “B” quality.
Continues to bail out hurting franchisees: financially reworked about 1,778 of Taco Bell’s franchised restaurants as of December. Company, which has 6,164 U.S. restaurants, also bought 147 franchise stores for about $76 million. Purchased land, building or equipment from franchisees worth about $28 million, released it back to them.
Looking to piggyback on other Yum brands. New Taco Bells also offer chicken from KFC, pizza from Pizza Hut, fish, chips from Long John Silver’s, burgers from Back Yard Burgers. Counts 618 cobranded U.S. sites.
New products, such as Grilled Stuft Burrito, Zesty Chicken Border Bowl, credited with “driving traffic” to Taco Bell, analysts say. Still playing catch-up to “fresh Mex” rivals. Last year, closed short-lived sit-down Taco Bell Grille in Garden Grove.
FCB Worldwide continues to lead marketing. Creative twists: tapped Paul Hogan, butler from “Joe Millionaire,” to tout steak quesadilla, teamed with Los Angeles Lakers, suspended 15-foot floating “Free Taco Here” target during World Series, offered free tacos if hit.
Occasional lightening rod for tomato pickers, other protesters. Dealt with PR nightmare over Taco Bell brand taco shells containing genetically altered corn a few years ago.
Prior to Taco Bell, was 12-year Wendy’s vet, directing planning, research, new product marketing. Prior to Wendy’s, served for seven years as vice president of marketing, concept development at Ponderosa. Also held various senior financial, product development positions at Copeland, Chrysler.
Wife Maureen. Hobbies include golf, reading, travel, fitness activities.
,Jennifer Bellantonio
VICTOR H. DOOLAN
CEO, Volvo Cars of North America
Born in Kings Langley, England, Nov. 7, 1940
Lives in Dana Point
Mike Patrick O’Driscoll
President, Aston Martin, Jaguar,
Land Rover of North America
Born in Coventry, England, April 6, 1956
Lives in Laguna Hills
Imported duo running Ford’s import unit from Irvine.
Doolan heads up Volvo, largest part of Irvine-based Premier Automotive Group. In year’s past, shared this spot with Lincoln Mercury president. Brand moving back to Detroit in coming months.
Charged with refocusing Volvo on safety, durability,brand’s hallmarks,instead of shift toward fun, speed, performance. “Technology may change, but our values remain the same,” he says.
Wants to update image of sedan, wagon company with stylish products, keep customers from defecting. Launched first sport utility XC90 in the fall. Garnered industry awards; expects to sell 40,000 here next year.
Plans new compact sport sedan next year, XC70. This, other sedans expected to drive growth.
Automaker aims to up annual global sales from about 400,000 to 600,000 vehicles. Reported near-record March U.S. sales of 12,225 vehicles, up 26% from last year.
Volvo’s performance beat siblings Jaguar, down 42%, and Land Rover, off 1.5%, in same period.
Premier group lost $88 million in the first quarter, wider than last year’s first quarter loss of $70 million. But revenue rose to $5.4 billion from $4.9 billion.
Pushing initiatives. Among them: Internet. Volvo spent about $6 million on Internet marketing in 2002, one-fourth of what parent Ford spent. Used it to snare 1,500 orders for the S60 R and V70 R since cars debuted in October. Seasoned automotive veteran. Previously, executive director of Premier. Started in 1999,same time Ford bought Volvo,and held position for three years. Prior, was president of BMW of North America. Also president of BMW Canada, vice president of BMW South Africa.
Graduated from Britain’s Watford College. Received awards for philanthropy, including 1998 Marjorie Guthrie Leadership Award, 1996 Automotive Industry “Good Scout” award from New York Council of Boy Scouts of America. Also 2002 corporate chairman, Orange County Walk To Cure Diabetes. Member, UCI Graduate School of Management Dean’s Advisory Board.
Advocate of diversity in personal life, workplace. Dedicated supporter of Volvo for Life Awards, which recognizes “extraordinary people that live ordinary lives.” Wife Ann.
O’Driscoll oversees other half of Premier: Jaguar, Land Rover, Aston Martin. Despite tough March, bumped up sales by 40% after year on the job in down economy.
Joined Jaguar Rover Triumph in 1975 as business student, held a number of positions before taking over marketing, planning for Jaguar Cars North America in 1987. Prior to current position, O’Driscoll was president of Jaguar North America. Oversees 450 people, travels 300,000 miles or more each year. Came to U.S. in 1987. Moved to Ford in 1995, spent five years in Dearborn, Mich., New Jersey. Moved to OC and took over three brands in 2001, when the office relocated from New Jersey.
Passionate about cars. Likes speed, excitement, design, style, performance. Markets the brands in the same manner. “It’s about passion, enthusiasm. It’s about heritage.” History, tradition separates brands from others. “Aston Martin was James Bond’s first and favorite car,” he says.
Southland, New York area make up 15% of sales here. Last year sold 102,000 cars here, up from 72,000 a year earlier. Attributes rise to new strategy. Brands always have been “wonderful but expensive” cars to aspire to. Now it has begun making lower-priced versions of “aspirational” models. Recently introduced new model Jaguar XJ Sedan.
Business master’s from University of Warwick in Coventry, his hometown. Irish father, American mother. Don’t call him Michael.
Hobbies: Recently took up sailing. Sailed the British Virgin Islands last year. When he’s not traveling, spends time with family. Likes books the way he likes cars: page-turning thrillers by Nelson DeMille, James Patterson. Working way through a 950-pager called “The company: A Novel of the CIA.” Recently completed a Winston Churchill biography.
Wife, Maureen, three children, ages 14, 20, 21. Has one small white dog “so small that you could put batteries in him,” a Bichon Frise named Shamrock, 4.
,Jennifer Bellantonio, Sherri Cruz
WILLIAM PATRICK FOLEY II
Chairman, CEO,
Fidelity National Financial Inc.
Chairman, CKE Restaurants Inc.
Chairman,
Fidelity National Information Solutions
Born in Austin, Texas, Dec. 29, 1944
Lives in Santa Barbara
Santa Barbara businessman with big OC footprint.
Possibly moving Fidelity headquarters to Florida after buying financial services arm of Alltel. Plans to keep title operation in Irvine, where it employs 500. Plans keep home in Santa Barbara’s Hope Ranch, spend most of time in Florida.
Golden State grown too costly for expansion: “The one thing we’re not interested in doing is adding jobs in California,” he says.
Not only worry here: Insurance Commissioner John Garamendi recently launched probe into possible price gouging by title insurers.
Increasing duties at Fidelity while reducing role at CKE Restaurants (Carl’s Jr., Hardee’s chains), which he moved to Santa Barbara from Anaheim a year ago. Draws chairman’s salary at CKE but no longer gets bonuses, adviser’s salary.
Made series of buys at Fidelity last year, including $1 billion buy of Alltel unit (renamed Fidelity Information Services).
After debuting on Fortune 500 last year at No. 426, Fidelity made big jump to No. 326 this year. Hot housing, refinancing markets driving growth. Still seeing gains from 2000 buy of Chicago Title. Deal doubled Fidelity’s size, leapfrogged rival First American, run by OC 50ers Parker, Donald Kennedy.
2002 revenue of $5.1 billion, up 31%. Net income up 75% to $532 million.
Realizes housing boom won’t last, looking to new areas such as flood, mortgage, property, casualty insurance, home warranties.
Graduate of West Point, where he earned bachelor’s in engineering, honed strategic skills playing bridge, chess, board game “Blitzkrieg,” which he seldom lost. Played stock market, too.
Followed dad’s footsteps into Air Force. MBA from Seattle University, law degree from University of Washington School of Law.
Began in business as an attorney emphasizing corporate, real estate law in Phoenix. In 1980, began buying several small title companies. Joined Fidelity in 1981, led 1984 LBO. In 1986, moved the company to OC. Business Journal’s businessperson of the year for 1997. Jets between office in Santa Barbara (where he has oceanfront home) and Fidelity’s Irvine operations. Fiercely competitive, whether at business, cards or golf. Played with Vijay Singh, K.J. Choi at AT & T; Pebble Beach National in February.
Vintner with two Solvang wineries in the Santa Ynez Valley. Vacations in Montana. Comes to work in a golf or Hawaiian shirt most days. Backed Republicans, delegate to the 1996 and 2000 national conventions. Wife Carol, two sons, two daughters.
,Sherri Cruz
WILLIAM H. GROSS
Founder, Managing Director,
Pacific Investment Management Co.
Born in Middletown, Ohio, April 13, 1944
Lives in Laguna Beach
WILLIAM S. THOMPSON
Managing Director, CEO,
Pacific Investment Management Co.
Born in St. Louis, Mo., Aug. 7, 1945
Lives in Laguna Beach
Gross public face of colossal bond fund manager, investment genius. Thompson behind-the-scenes corporate strategist.
Gross’ Pimco Total Return fund become largest mutual fund in September, now stands at $73 billion, ahead of Vanguard 500 stock index fund at $67 billion. 2002 arguably best year in his 30-plus years at PIMCO. Business Journal’s businessperson of the year for 2002.
With Thompson, skillfully pulled off majority sale three years ago to Germany’s Allianz to create global powerhouse with more than $1 trillion under management, more than half managed by PIMCO. Pacific Life, headed by OC 50er Thomas Sutton, owns rest.
Were leaders in forming PIMCO Advisors in 1994 after split from Pacific Life. Thompson is soft-spoken, straight shooter, suit-and-tie CEO responsible for the business worldwide. Targeting growth in deregulating Asian, European pension markets. “Environment in major markets around the world has changed dramatically,” he says.
A quarter of clients are outside the U.S., sees that growing to half.
Thompson chairs PIMCO’s Compensation Committee, Executive Committee. Sits on Management Board, Executive Committee of Allianz Dresdner Asset Management, as well as International Executive Committee of Allianz. At PIMCO, oversees 600 people in U.S.,500 in Newport Center,five global offices.
Used to go to Germany five, six times a year but now prefers teleconference, spending more time at headquarters. Still goes to offices worldwide. Will be visiting Japan, Singapore, Australia and Europe this year.
Strict about dress code. Suits the norm with casual Fridays. Serves hot dogs to workers every year on his birthday, a tradition now. Prior to joining PIMCO in 1993 as co-CEO, spent 18 years with Salomon Brothers including two in Tokyo as chairman, Salomon Brothers Asia.
Personal mantra: reward people on merit, not hierarchy.
Involved with Hoag Hospital Foundation, ended three-year chairman term last year (succeeded by OC 50er Michael McKee). Regularly contributes to Pacific Symphony Orchestra, Orangewood Children’s Home. Instrumental in setting up the $10 million PIMCO Foundation, funded by managing directors.
Bachelor’s in engineering from University of Missouri, Columbia. MBA from Harvard.
Married to Nancy for 34 years. Couple into yoga, physical training, local charities. Three children: William III, 30, works for Salomon Smith Barney; Emily, 27, Bucknell University alum living in Newport Beach, doing graduate studies at Chapman; Brad, 24, attended University of Oregon, works for NEC Solutions in Irvine.
Raised in Midwest. He and wife own cabin near the Lake of Ozarks in Missouri where they go bass fishing. Likes reading, golf (13 handicap). Played in the Toshiba Pro Am this year, also AT & T; Pebble Beach Classic.
Gross widely acclaimed, oft-quoted bond manager. Dubbed “King of Bonds” by Fortune. Said to be highest paid executive in OC. As a retention bonus, Allianz gave him a $200 million deal spread over five years.
Played golf along with Tiger Woods at Pebble Beach.
In 2001, Gross and team won Morningstar Fixed Income manager award, only one to win twice at the time. TV shows, wire agencies, newspapers feature him regularly for comments on economy, bonds, Greenspan, interest rates and, more lately, fair disclosure practices.
Prolific writer: monthly “Investment Outlook” on PIMCO’s Web site has a huge following. Has written more than 320 outlooks so far.
Bond guru broadcasts market commentaries from PIMCO’s own TV studio in Newport. In 1997 wrote, “Everything You’ve Heard About Investing is Wrong.”
Fantastic black jack player-almost unbeatable. Learned how to play after a car crash landed him in hospital. Honed his skill in Las Vegas.
Loves to go to his son’s hockey game. Religious about doing yoga-including Shirsasan pose, standing on his head. Spearheading company-paid Alaska cruise for all PIMCO workers.
Received bachelor’s from Duke, MBA from UCLA. Jogger and, with wife Sue, yoga student.
Philanthropic: He and Sue funded James Hines Foundation, which contributes $100,000 annually to OC Teachers of the Year. Donated $1.5 million to Sage Hills private school.
Three children: Jeff, 29, Jennifer, 26, Nick, 14. Hobby: stamp collecting.
,Sherri Cruz
CYNTHIA HARRISS
President, Disneyland Resort
Walt Disney Co.
Born in Huntington, W. Va., June 12, 1952
Lives in Laguna Beach
Top local official for Disney, OC’s largest private employer.
Oversees management, long-term growth of both Anaheim parks, Downtown Disney, three hotels. Also oversees finance, marketing, sales, entertainment, information services, legal, merchandise, public affairs at the resort.
First woman to head resort and its 20,000 “cast members.”
Came to Disneyland in 1997 as executive VP, succeeding Paul Pressler when he was promoted to president of what’s now Walt Disney Parks & Resorts).
Since Pressler’s departure last year to head The Gap, Harriss reports to Jay Rasulo, Pressler’s replacement in Burbank who also heads Anaheim Sports.
During her tenure, second park, third hotel, Downtown Disney opened. With expansion, resort added senior VP Randall Baumberger in 2002 to handle operations and sales, including special events development, production.
Baumberger, a grad of UCI, Cal State Fullerton and previous senior VP of Disney Regional Entertainment, reports to Harriss.
Rocky start for California Adventure. Added “A Bug’s Land,” “Flik’s Fun Fair,” Broadway-caliber show “Aladdin” last year. Helped draw more visitors. “Playhouse Disney,” another addition for tots, opened last month.
At Disneyland, “Many Adventures of Winnie the Pooh” debuted in April, first all-new ride there since Indiana Jones.
Next up: “Twilight Zone Tower of Terror” in 2004 at California Adventure. Ramping up plans for 50th anniversary at Disneyland in 2005.
Warm, popular, appears unflappable in public, despite ongoing industry turmoil. Says resort is poised to deal with trends, positioning itself to attract families seeking short vacations. Also says its important to have visible security.
Previously was senior VP of stores for The Disney Store, growing from 140 to 460 stores in North America during her tenure. Before that, was executive for 19 years with Paul Harris Stores in the Midwest.
Supporter of women in business, takes time to support, recognize outstanding entrepreneurs.
A 2002 recipient of “Women of Vision” award from We Give Thanks, a nonprofit. Received International Distinguished Leadership Award and 2000 Tree of Life Award for outstanding community service from Jewish National Fund.
Bachelor’s in liberal arts from St. Louis University in St. Louis, Mo. Recognized by Who’s Who of American Women and Community Leaders of America.
Loves travel, beach, theater. Board member of Children’s Hospital of Orange County and South Coast Repertory Theatre; trustee on the board of Laguna Playhouse.
,Sandi Cain
DONALD PARKER KENNEDY
Chairman, The First American Corp.
Born in San Jacinto, Texas, Oct. 16, 1918
Lives in Lemon Heights
PARKER STEVEN KENNEDY
President, The First American Corp.
Born in Orange, Feb. 18, 1948
Lives in Orange Park Acres
Father-son team had banner 2002, driven by low interest rates, housing, refinancing boom.
Donald is active chairman, Parker runs day-to-day operations, including big technology push. Like fellow OC 50er Bill Foley, benefited from record levels of home purchases, refinancings. 2002 net income nearly doubled to $234 million. Sales up 25% to $4.7 billion.
Planning for after the home boom. Diversified company into credit reporting, employee screening, other areas. Company has major life events covered: getting a job, renting an apartment, buying a car, house, boat or airplane, opening or buying a business, planning for retirement.
Last year, started implementing $50 million computer system that automates title searches, escrow closings, issuing of policies.
Parker calls it “the most strategic initiative we have taken since we started expansion out of Orange County back in the 1950s.”
Company already boasts of nation’s largest, most comprehensive property database. Has nearly 26,000 workers, including 2,000-plus in OC.
Busy buyers. Acquired four screening companies last year. In December, outlined plans to combine screening operations with U.S. Search.com of Los Angeles.
The combined business, First Advantage, is set to trade on Nasdaq, 80%-owned by First American.
Third, fourth generations to run family business founded in 1889 by C.E. Parker, great grandfather of Parker.
Kennedys have built First American into a Fortune 500 company (No. 351 in 2003), and perennial Fortune “Most Admired” and Forbes 400 company.
Parker is personable executive who remembers employees’ birthdays. Donald presides over the board and in the office daily as head of the company’s trust and other services segment. Rest of his time is on the golf course, where’s he’s posted nine holes-in-one. Don was president (company doesn’t use CEO title) from 1963 to 1993, when he became chairman and Parker took over as president.
A graduate of Stanford University, Don joined First American’s predecessor, Orange County Title, in 1948 after receiving his law degree from the USC School of Law. Has professional, charitable affiliations throughout OC, most recently appointed chairman of board for Bowers Museum.
Serves as vice chairman of Chapman University’s board of trustees, heads the athletic committee. Donald P. Kennedy Hall, four-story facility at Chapman School of Law, named in his honor in 1999. Wife Dorothy active in community affairs.
Laments in comedic fashion about taking family business public.
“There are no secrets,” he says. “They know what you had for lunch.” Named director of the year in February by the Forum for Corporate Directors.
Parker joined in 1977, became VP in 1979, executive VP in 1983, and named First American Title president in 1989, a position he held until 1999 when he became chairman of title company.
Involved with many organizations. Chairman of the OC Council Boy Scouts of America, past chairman of Santa Ana Chamber of Commerce, Bowers Museum. Has bachelor’s in economics from USC; law degree from Hastings College of the Law, San Francisco.
Parker and wife of 25 years, Sherry, have two grown children. Hobbies include running (he’s participated in Los Angeles Marathons), fly-fishing, golf.
,Sherri Cruz
DAVID GENE MOORE
Chairman, CEO,
Corinthian Colleges Inc.
Born in Tonasket, Wash., Oct. 4, 1938
Lives in Newport Beach
Learned persistence, tenacity in Army. Decorated veteran, commanded Vietnam troops.
Later managed troop testing of M-1 Abrams tank, led to congressional approval in 1980.
Leads fast-growing operator of for-profit colleges. Named to the S & P; MidCap 400 in March. Ranked among “Top Guns” of best performing companies by Wall Street Journal
Started Corinthian in 1995 with four partners.
In 1994, what was then National Education recruited Moore to be operations VP of school division. Six months later, named president of unit, National Education Centers.
A year later, Moore and four senior managers at National pooled money, lined up venture backers, bought 12 schools from National for about $4.5 million. Only after their prior buyout bids were rebuffed by National, which even threatened to fire them.
Today, counts 67 colleges in 21 states, 40,000 students, thanks to acquisitions, internal growth.
Market value about $1.8 billion. Stock nearly double a year ago at recent check. Looks forward to “barbecuing the shorts”,short sellers betting on a fall in company’s shares.
Credits “ability of management team and folks in the schools to execute the plan and budget day in and day out.”
Practices team management, collective decision-making. Believes students flourish in personalized, friendly setting. Keeps campuses small. Students are company’s product, he says.
Managing regulatory challenges part of job.
Before Corinthian and National Education, was president of DeVry Institute of Technology in Los Angeles from 1992 to 1994, developing West Coast operations, growth strategy.
Spent 12 years prior in management at Mott Community College in Flint, Mich., president for eight years.
Distinguished Army career, 1960 to 1980. Earned two Purple Hearts, two Silver Stars, five Bronze Stars for valor, three Air Medals, two Distinguished Legion of Merit awards. Retired as colonel.
Earned bachelor’s in political science from Seattle University, master’s in business University of Puget Sound in Tacoma.
Completed management of higher education program at Harvard University, postgraduate studies in higher education management at University of Michigan. Graduate studies, research in computer science at Kansas State University.
Married to second wife Kathryn. Three children, John, Kathy and Alan. Likes yachting, scuba diving.
,Chris Cziborr
THOMAS COLE SUTTON
Chairman, CEO,
Pacific Life Insurance Co.
Born in Atlanta, June 2, 1942
Lives in Corona del Mar
Low-profile exec runs what continues to be one of the largest private companies in OC by revenue, approaching $4 billion in revenue annually.
Employs 2,854 workers here. Put up 132,064-square-foot building in Irvine last year for Pacific Life & Annuity, unit that handles employee insurance benefits.
Longer-running OC CEOs, now in his 13th year at helm of Pacific Life. A lifer: worked summers with the company during college, stayed on as an actuary. Has kept company focused on lucrative niche: life insurance, retirement services for wealthy clients.
Company spawned bond manager PIMCO. Still holds about 30% stake. In March, reworked deal calling for 70% PIMCO owner Allianz to buy stake if sold. Instead of a $2 billion lump sum, Allianz now can buy PIMCO shares in chunks. Even so, Pacific Life doesn’t plan to sell before 2005.
Earned his bachelor’s in mathematics, physics from University of Toronto. Completed Harvard University’s Advanced Management Program. Many civic activities: Pacific Life Foundation last year donated more than $3 million to more than 150 local nonprofits, including to South Coast Rep, Fish and Wildlife Foundation, United Way of Orange County, Taller San Jose, which works with OC gang members on job skills.
The Irvine Company board member, also director of Newhall Land and Farming, Edison International. On board of California Chamber of Commerce, The Public Policy Institute of California, advisory board of the California Institute for Federal Policy Research in Washington, D.C., past chairman of American Council of Life Insurers, past chairman, Association of California Life Insurance Cos., former chairman of Health Insurance Association of America.
Big sports backer as way to reach customers. Signed on last year as title sponsor of The Pacific Life Open, a prestigious Indian Wells tennis tournament. This year signed on as the title sponsor of The Pacific Life Holiday Bowl and The Pacific Life Pac-10 Men’s Basketball Championship. Company owns Tijeras Creek Golf Club, which it bought in the 1990s from fellow OC 50er Anthony Moiso.
Wife Marilyn, English professor. Three grown sons, one grown daughter. Skis, golfs, reads.
,Sherri Cruz
HONORABLE MENTION
SCOTT BORAS
President, The Scott Boras Corp.
LEO W. BRENNAN
VP, General Manager,
Cox Communications Inc.
Robert Cole,
Brad Morrice
Chairman, CEO;
Vice Chairman, President, COO
New Century Financial Corp.
ROBERT DURBISH
President, Cofounder,
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JACK FALFAS
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ROBERT B. GRANT
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ROBERT HOFF
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Fletcher Jones Jr.
Chief executive, President,
Fletcher Jones Management Group
GEORGE KAYE
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MAURICE L. McALISTER
Cofounder, Chairman,
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JEFFREY MOORAD
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DAVID J. MURPHY
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MAURICE S. NELSON JR.
CEO, President, COO,
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ERNEST S. RADY, THOMAS A. WOLF
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CEO, President, WFS Financial, President, Western Financial Bank
DON ROBERT
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BYRON ROTH
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PETER V. UEBERROTH
Principal, Managing Director,
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Chairman, Ambassadors International Inc.
NICK E. YOCCA
Cofounder, President, Stradling Yocca Carlson & Rauth
KIM YOUNG,
DAVID RITCHIE
Regional President, Executive Vice President, Wells Fargo Community Bank;
Executive Vice President, Regional Manager
