OC BUSINESS JOURNAL DAILY NEWS

Opus Shares Plummet on Q3 Report

Shares of Opus Bank (Nasdaq: OPB) plummeted 18% after the Irvine bank reported third quarter earnings that missed analyst estimates.

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Midday Stock Roundup

The S&P 500 fell 0.4% in midday trading to 2,757.12.

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General Counsels Grow Roles to the Strategic

Say Corporate Trends Include AI, Fees, #MeToo

Glaukos Corp. (NYSE: GKOS) General Counsel Robert Davis, besides handling strictly legal matters for the San Clemente-based medical device maker,

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OC 500: Raymond Lawler

Hines one of most active buyers, sellers of OC office properties past 7 years … unwrapping Intersect, large airport-area office campus … redevelopment there followed Hines-PIMCO purchase of site 2015 … Hines sold 4000 MacArthur office tower to Goldman Sachs for some $180M … has served on NB planning commission ... ex-USMC pilot

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Midday Stock Roundup

The S&P 500 rose 0.3% in midday trading to 2,776.39.

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OC Unemployment Falls to 2.8%

Orange County’s unadjusted unemployment rate fell to 2.8% in September from a revised 3.1% in August and 3.3% a year earlier, according to the state Employment Development Department.

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After 80 Years, Whittier Put its Trust in OC

BANKING: Family office’s newest office fastest growing

Whittier Trust Co. began life as just a family office, the family was the Whittiers.

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OC 500: Patrick Fuscoe

Founded 1992 … client roster includes Shea Homes, Rancho Mission Viejo … lead engineer: Village of Woodbridge, Ronald Reagan federal building, Hyatt Regency HB … engineer on 390-foot pedestrian sky bridge

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2017 Tourism: $21 Billion

Local tourism last year produced $21.3 billion in economic impact, according to a new report from the Orange County Visitors Association.

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Hospitality Shows Go To OC Operator

Emerald Expositions Events Inc. (NYSE: EEX) bought several hospitality-focused trade shows, publications, and events from ST Media Group International and Hospitality Media Group on undisclosed terms.

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Spectrum Pharma Names CMO

Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) named Francois Lebel as chief medical officer, overseeing the company’s clinical program including directing clinical trials and development as well as regulatory submissions.

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Midday Stock Roundup

Indexes were down more than 1% apiece in midday trading on the expectation that the Federal Reserve will continue to increase interest rates.

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Carpenter Sells Stake In Pacific Mercantile

FINANCE: Longtime banker again scores hit, reaps returns

Ed Carpenter has done it again.

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OC 500: Mark Costa

Care delivery to 550K members by some 8K staff, 1K doctors … SoCal region, several counties, 4.4M members … parent co. $65B revenue 2016 … growing OC telemedicine work … aims to strengthen community-based programs …

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Midday Stock Roundup

The S&P 500 rose 0.2% in midday trading to 2,815.61.

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PacLife’s Long Legacy of Community Commitment

Giving in Great Depression Became Part of Its Culture

Sometimes when you’re at the beginning of starting something—taking on a new project at work, for example, or building a brand from scratch—it can be hard to see the long-term impact it may have.

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Angels Opt Out of Lease

The Los Angeles Angels of Anaheim today opted out of their lease at Angel Stadium, where they have played home games since 1966.

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NB Hotel Operator to Add Three

Twenty Four Seven Hotels in Newport Beach will run three inland area hotels for Cerritos-based Soquel Rincon TPS LLC.

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OC 500: Ron Hasse

Named Register head 2016 after parent company Digital First Media bought Freedom Communications Inc. out of BK … heads 11 dailies … oversees websites, weeklies, magazines, digital, social … biggest accomplishment 2017: ‘bringing … collaborative and innovative culture’ to SCNG while ‘maintaining autonomy in news coverage’ … three words: ‘listen, learn, progress’ … turning point: wife, Valerie … ‘no question I married up’

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Del Taco Ratchets Guidance Down

Del Taco Restaurants Inc. (Nasdaq: TACO) lowered full-year guidance in its most-recent quarterly report. Revenue and net income grew on a 1.4% increase in systemwide same-store sales, with franchised restaurant comps growing faster than company-owned locations.

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Microsemi Executives Sue Microchip for Libel

TECHNOLOGY: Suit confirms bitter split

The honeymoon between executives at Microsemi Corp. and Microchip Technologies Inc. is officially over, four months after a $10.2 billion megadeal that began the two chipmaker’s marriage.

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Midday Stock Roundup

U.S. stocks jumped on a broad rally across all 11 sectors of the S&P 500, which rose 1.5% in midday trading to 2,791.69.

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OC 500: Frank Greinke

SC Fuels, founded 1930, one of oldest, largest family-owned U.S. fuel distributors … 11K customers in Western U.S. … fleet card services at 230K sites, including truck stops, retail gas stations … Fortune 500 clients … Greinke 45-year company vet … honorary consul, Republic of Georgia … advisory boards, CSU-Fullerton, Solis Capital Partners … son Steven is chief executive

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Pacific Chorale Names CEO

Andrew Brown succeeds Elizabeth Pearson as president and chief executive of Pacific Chorale, resident of the Renée and Henry Segerstrom Concert Hall at Segerstrom Center for the Arts.

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Eagle Four Takes Flight to Denver in Big Hotel Buy

HOSPITALITY: $415M value estimated for Sheraton

Newport Beach-based hospitality investor Eagle Four Partners is the latest local name taking notice of Colorado’s red-hot hotel market.

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