OC BUSINESS JOURNAL DAILY NEWS
Midday Stock Roundup
The major U.S. indexes all fell more than 1% in another volatile trading session, fueled by economic concerns about China and Europe, and blue chippers like Johnson & Johnson, Adobe Inc., and Costco Wholesale Corp
Chipotle Adds Legal, Development Execs
Chipotle Mexican Grill Inc. (NYSE: CMG) in Newport Beach named Roger Theodoredis chief legal officer and Tabassum Zalotrawala chief development officer.
Chapman Sees Slowing Economy
The economies of Orange County, California and the U.S. should continue their expansions next year, albeit at slower rates, according to Chapman University’s annual economic forecast.
FirstElement Takes Lead On Hydrogen-Fueled Cars
AUTOMOTIVE: Fuels up with Air Liquide investment
The next wave of alternative-fuel vehicles zipping around Orange County are hydrogen-powered cars, and an Irvine-based upstart with a growing list of investors, FirstElement Fuel Inc., is ready to lead the pack.
OC 500: Peter Ueberroth
50-year OC business, civic, investment involvement … Time ‘Man of Year’ after first-ever profitable U.S. Olympic Games, L.A., 1984 … MLB commish ... leads ownership, Pebble Beach … family in hospitality (see niece Lindsey), harbors (see son Joe), giving (wife Ginny) … Business Journal OC 50 … accidental entrepreneurship—told Pelican Hill magazine, 2015, ‘you can’t find a job, so you start a business’
Buena Park Food Maker Sold
Buena Park-based Simply Fresh Foods was sold to Lakeview Farms LLC in Delphos, Ohio.
Taco Bell Gets 2nd Down Under Franchiser
Taco Bell Corp. of Irvine signed its second franchiser for Australia and New Zealand, more than doubling the number of units it plans in the two countries to 110.
UCI Health Names COO
UCI Health appointed Chad Lefteris chief operating officer, effective Dec. 17.
Midday Stock Roundup
The S&P 500 was down 0.2% to 2,646.16.
Grippo’s New Berth: Bellwether, Dana Point
Bellwether Financial Group in Newport Beach named Ralph Grippo a principal, the company said.
How Pedego Bikes Tackled the Tariffs
MANUFACTURING: And signed legend William Shatner
The call to Pedego Electric Bikes’ Fountain Valley headquarters came about a year ago.
OC 500: Lawrence Armstrong
One of fastest-growing midsize private cos. … two-year growth 36% to $90M … architecture, design firm founded 1972 … Armstrong joined mid-80s; he and partner bought 1992 … chairs United Way work: homelessness … need ‘sea change’ in understanding … bachelor’s, Kent State … modern artist … ‘Renaissance approach’ to life; would meet da Vinci (see Lynn Jochim, Richard Sudek) … first car: 1974 Plymouth Valiant … roots for ‘Cleveland Browns!’
MYnd Names New CEO
Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) appointed Patrick Herguth as chief executive officer, replacing George Carpenter who will assume the new role of chief innovation officer.
Midday Stock Roundup
Indexes were higher in midday trading on an easing of trade tensions.
OC 500: Andrew Peykoff II
Andy took lead roles in 2002 at firm founded by father in 1963 … now the leading private label bottled water’ in U.S. … CdM HS; bachelor’s, SMU … roots for Rams, USC football … backs clean water, developing nations, U.S. children’s charities … first car: Jeep Cherokee … would meet Peter Drucker: ‘he effectively created entire platform all successful managers have thrived on, 30+ years’
Anaheim Power Play
Ducks Owner Pays $125M for Office Site Next to Stadium
Anaheim Ducks owner Henry Samueli has made his largest reported acquisition, buying a three-building office complex that sits next to the Honda Center, home of his hockey franchise.
Midday Stock Roundup
The S&P 500 was flat in midday trading at 2,637.04.
Edwards Gets Critical Care Systems Boost
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.
OC 500: Liz Williams
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’
Midday Stock Roundup
The S&P 500 fell 0.4% in midday trading to 2,622.82.
Uniti Bought for $63.9 Million
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.
Spireon’s New Owner To ‘Accelerate Growth’
TECHNOLOGY: Sees tracking potential in every new vehicle
Vehicle-location services provider Spireon Inc. found itself being tracked in the past year.
OC 500: Steve Craig
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
Hotels Continue Strong
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 SVP to Hong Kong
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.
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