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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Q&A The Art of Being a CFO

OC Execs Focus on AI, TaxesThe Business Journal’s Peter J. Brennan asked five local chief financial officers about the newest trends in corporate finance, and where their attention is focused.

OC Unemployment Steady at 2.8%

Orange County’s unadjusted unemployment rate remained 2.8% in December, unchanged from a revised 2.8% in November and down from a year-ago estimate of 2.9%, according to the state Employment Development Department.

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Spectrum Pharma to Sell Drug Portfolio

Spectrum Pharmaceutical Inc. (Nasdaq: SPPI) said today it has sold its portfolio of seven FDA-approved hematology/oncology products to Acrotech Biopharma LLC for up to $300 million.

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Midday Stock Roundup

The S&P 500 declined 0.4% in midday trading to 2,586.84.

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Taco Bell’s Williams to Stitch Fix Board

Stitch Fix Inc. named Liz Williams, president of Taco Bell International, to its board, noting her experience with branding and foreign markets.

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Del Taco Shares Up On 4Q Prelims

Shares in Lake Forest-based Del Taco Restaurants Inc. (Nasdaq: TACO) rose 6.4% after reporting fourth quarter preliminary results and issuing a 2019 forecast.

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Midday Stock Roundup

The S&P 500 fell 0.4% in midday trading to 2,575.66.

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HFC Buys 4th Franchiser

Home Franchise Concepts in Irvine on Jan. 1 bought AdvantaClean in Huntersville, N.C., on undisclosed term, its fourth home-improvement franchise system. It already owned Budget Blinds, Tailored Living and Concrete Craft.

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Select Interior Buys T.A.C. for $43M

Select Interior Concepts, Inc. (Nasdaq: SIC), an Anaheim-based building products and services company, said it bought T.A.C. Ceramic Tile Co., an installer of residential and light commercial flooring, for $43 million cash.

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OC Unemployment Falls to 2.8%

Orange County’s unadjusted unemployment rate fell to 2.8% in November from a revised 2.9% in October and down from year-ago estimate of 3.1%, according to the state Employment Development Department.

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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.

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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.

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Buena Park Food Maker Sold

Buena Park-based Simply Fresh Foods was sold to Lakeview Farms LLC in Delphos, Ohio.

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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.

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Grippo’s New Berth: Bellwether, Dana Point

Bellwether Financial Group in Newport Beach named Ralph Grippo a principal, the company said.

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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.

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Windjammer Fund Raises $870 Million

Newport Beach’s Windjammer Capital Investors said it has completed fundraising for its fifth fund, Windjammer Senior Equity Fund V LP, with aggregate capital commitments of $870 million.

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20 Habits to Greater Chicago

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.

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No Mazzo Deal Yet

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.

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Fresh Marketing for El Pollo Loco

Costa Mesa-based El Pollo Loco Holdings Inc. (Nasdaq: LOCO) named Hector Muñoz chief marketing officer ahead of an expected spring 2019 relaunch of the brand.

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Opus CEO Resigns

Opus Bank (Nasdaq: OPB), the third-largest Orange County-based bank by assets, said Chief Executive and President Stephen Gordon resigned.

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Taco Bell Bangkok in Early 2019

Taco Bell’s Thailand franchisee plans to open its first location in Bangkok by early next year, local news reports said.

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Unemployment Up to 2.9%

Orange County’s unadjusted unemployment rate rose to 2.9% in October from a revised 2.8% in September and down from year-ago estimate of 3.2%, according to the state Employment Development Department.

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Philanthropy Day Honors Zhangs, Ueberroths

OC’s chapter of the Association of Fundraising Professionals honored nine of the county's outstanding givers at the annual National Philanthropy Day luncheon Thursday before a crowd of 700 at City National Grove in Anaheim—part of a day of recognition, nationwide.

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Buena Park Group in Hotel Deal

Harbor Hotels LLC, an Arizona family investment group affiliated with Cornerstone Hotel Group LLC in Buena Park, bought the Courtyard by Marriott near Long Beach Exchange, a shopping and entertainment development, from Delaware-registered Mach II Chartres Long Beach.

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Next Pendry: Utah, Near Montage

Pendry Hotels plans to build a ski resort in the Canyons Village area of Park City, Utah, about five miles from Montage Deer Valley, a resort run by Pendry sister company Montage Hotels & Resorts.

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