HEALTHCARE: Big data drives evolution
Big data is the big buzzword in healthcare, and Edwards Lifesciences Corp. (NYSE: EW) is no exception—it’s made it part of a strategy to continue growing one of its three main business lines: critical-care technologies.
Leads overseas growth of largest OCbased restaurant chain … $10B sales, 7K locations, most in U.S. (see Julie Felss- Masino) … 2018 deals to add 200 each in Spain, Brazil, 50 in Australia … roots for Texas Longhorns; first car: ‘my dad’s 1985 Buick Riviera: more like a boat than a car’ … can’t miss: ‘Halloween trick-ortreating with my kids’
Uniti Financial Corp., the largest Korean-American based bank in Orange County, is being bought by Walnut Creek’s BayCom Corp. (Nasdaq: BCML), the holding company for United Business Bank, for $63.9 million.
TECHNOLOGY: Sees tracking potential in every new vehicle
Vehicle-location services provider Spireon Inc. found itself being tracked in the past year.
Controls multiple, varied businesses, notably outlet mall developer-owner … some dozen properties in several states … local, drive I-5: Outlets at San Clemente 350K SF to city of Commerce 430K-SF Citadel … 2nd phase planned in San Clemente, more food, entertainment … chairman, New Majority OC (see Larry Higby) … to take majority stake, Ruby’s Diner as part of casual chain’s BK reorg
Local hotels, countering some expectations that the hospitality market was cooling, kept up a year of strong performance in October in the county overall and seven OC submarkets.
Disneyland Resort Senior Vice President of Operations Stephanie Young will replace Hong Kong Disneyland Managing Director Samuel Lau Wing-kee, reporting to Michael Colglazier, president and managing director of Walt Disney Co.’s parks and resorts in Asia.
U.S. stocks again dropped amidst fears of a slowdown and rising trade tensions with China.
INNOVATION: Duo has subscription and store
Santa Ana-based Shots Box LLC is like a chocolate-of-the month club—for booze.
Year of sales for billionaire philanthropist: cabinetmaker RSI Home Products Inc., $1B, American Woodmark Corp., late 2017 … early 2018: homebuilder RSI Communities, $460M, William Lyon Homes (see Matt Zaist) … putting proceeds, time, talents, into philanthropy—Simon Foundation’s Chapman U. scholarships—investing … Horatio Alger honoree … Business Journal OC’s Wealthiest
Long Beach Airport Director Jess Romo will retire effective Jan. 31.
APPAREL: New CEO ditches activewear
Cooler fall temperatures are now hitting Orange County, but things are starting to heat up inside the offices of swimwear manufacturer Manhattan Beachwear Inc.
Worked Elizabeth Arden makeup counter, Texas … co-founded UD with Cisco Systems co-founder Sandra Lerner, 1996 … sold 2000 for $22M, LVMH … now owned by L’Oréal SA … bought from equity firm Castanea $350M … 350+ workers, a third in OC … $1B revenue
Markets are closed today to honor late former U.S. President George Herbert Walker Bush.
Habit Restaurants Inc. (Nasdaq: HABT) said a new franchisee to its system, Bloomfield, Mich.-based Tremendous Brands Group LLC, will open 20 locations in Illinois and Indiana, with the first to come by mid-2019.
Late Tuesday, Judge David Carter ordered a second hearing, set for Thursday, before he will sign off on James Mazzo’s agreement with the Securities and Exchange Commission to settle insider trading charges.
Largest OC Deal for Pendulum Property Partners
Irvine-based Pendulum Property Partners, a real estate investment and development firm that started operations in 2016, has made its largest area purchase to date, buying Huntington Beach’s most prominent office complex.
Leads, owns, largest food co., 2nd largest private company, in OC … $7B sales, 7K workers … sells meat, dairy, sauces, to McDonald’s Corp., Starbucks, Chipotle (see Brian Niccol), others … has $1B unit, QCD, growing with non-McD’s clients (see Ryan Hammer) … firm runs fleet of trucks … Wetterau family big: food, charity work, for generations … Oct. 2018 in talks to sell some distribution centers serving McD’s … Business Journal OC 50
FINANCE: Talk of possible sale heats up
Since Steve Gordon’s surprising departure last week as chief executive of Opus Bank, the once high-flying company he co-founded in 2010, the question is what will happen to Orange County’s third-largest bank by assets.
Reopened Italian restaurant 2018 after fire … ‘better second time around,’ Business Journal’s Chris Trela said … new digs include upstairs bar … much of $2M redo funded by OC givers … Sir Bruno— Order of Merit, Italian Republic, 2013—known for feeding couple million hungry kids via charity Caterina’s Club … 2017 author, ‘Power of Pasta’ … backs National Philanthropy Day
The major indexes all fell today amid heightened recessionary fears, doubts on the U.S. trade agreement with China and an overall down day for tech stocks.
John Wayne Airport had 907,000 passengers in October, down 2.5% year-over-year; commercial flights declined 1.4% to about 4,000.