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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
LoanDepot Bullish On Economy
MORTGAGES: To hire 1,300 companywideWhile some executives fear a slowdown or worse, a recession, loanDepot LLC is going full steam ahead.Glaukos Licenses Eye Care Tech
San Clemente-based Glaukos Corp. (NYSE: GKOS) licensed technology from Intratus Inc. in San Diego to develop and sell new eye care drugs.
BioLargo Gets USAF Work
Environmental engineering firm BioLargo Inc. (OTC BLGO) in Westminster said a unit won two subcontracts to provide air quality environmental engineering work for five United States Air Force bases in Texas and Arizona.
ShiftPixy Revenue, Losses Up
Irvine-based ShiftPixy Inc., (Nasdaq: PIXY), a tech-based temp agency for restaurants, said third-quarter revenue increased 53% to $14.3 million, compared to $9.4 million for the third quarter of fiscal 2018.
Iteris Gets $3M
Santa Ana-based Iteris Inc. (Nasdaq: ITI) received $2.95 million, part of a five-year, $19.5 million contract to help build “intelligent transportation systems” for the Federal Highway Administration.
Overwatch League Expands Travel Plans
Blizzard Entertainment’s eSports league, based on its Overwatch franchise, will expand its travel schedule next year, its third season, to include two weekends of homebased gaming competitions each of its 20 teams in six countries.
NB Marriott Sells for $78M
Newport Beach Bayview Marriott was sold for $78 million, or about $307,000 per key for the 254-room property.
OC Unemployment Rate Rises to 3%
Orange County’s unadjusted jobless rate rose to 3% in June, up from a revised 2.4% in May and below the year-ago estimate of 3.2%, according to the state Employment Development Department.
SchoolsFirst Moves Ahead on New HQ
SchoolsFirst Federal Credit Union got the city of Tustin’s nod to build its new corporate headquarters.
UCI Prof Gets $15M Grant
University of California-Irvine professor of pediatrics, neurology, and anatomy Dr. Tallie Baram received a five-year, $15 million National Institutes of Health grant.
Bixby Buys Beyond Cali
Newport Beach-based Bixby Land Co. bought nearly 900,000 square feet of industrial space in Atlanta and Dallas on undisclosed terms.
Veritone Expands Radio Deals
Costa Mesa-based Veritone Inc. (Nasdaq: VERI) said it expects more broadcast clients of its artificial intelligence-based ad tracker.
OCTANe Launches Family Office Effort
Aliso Viejo-based OCTANe is starting a new venture.
Goldman Sachs Completes United Capital Buy
Goldman Sachs Group Inc. (NYSE: GS) has completed its acquisition of Newport Beach-based United Capital Financial Partners Inc. for $750 million in cash.
Walters to B. Riley Board
Former U.S. Congresswoman Mimi Walters has been named to the board of B. Riley Financial Inc.
Allied Universal Buys Phoenix Security Firm
Santa Ana-based security and facility services giant Allied Universal bought Phoenix-based Shetler Security Services on undisclosed terms.
OZ Heating Up in OC
One of Santa Ana’s first Opportunity Zone projects has begun, a 40,000-square-foot office building called First Harbor Plaza, by Diamond Bar developer Primior,
Huntington Beach Office Sells for $97M
An 8.6-acre office and retail complex in Huntington Beach has sold for $97.3 million.
William Lyon Homes Buys Mortgage Banker
Newport Beach’s William Lyon Homes (NYSE: WLH) has bought South Pacific Financial Corp., a retail mortgage banking company based in Irvine.
Smith-Backed True Drinks Changes Name
True Drinks Holdings Inc. of Costa Mesa changed its name to Charlie’s Holdings Inc. and received approval for a ticker symbol change from TRUU to CHUC as of July 3.
No Devil in Blizzard Christmas Details
Irvine’s Blizzard Entertainment Inc. is designing Diablo 4, according to a report in France’s Le Monde newspaper and subsequent chatter on several gaming sites.
Chapman Forecast: Housing Market Healthy
Chapman University data, countering conventional wisdom, suggests a healthy housing market in OC.
Iteris Closes $11M Acquisition
Iteris Inc. in Santa Ana closed its $10.7 million acquisition of Tampa, Fla.-based Albeck Gergen Inc. Key principals of the Florida traffic engineering firm could earn another $2.3 million from incentives over the next three years.
Cloudvirga Adds to Exec Ranks
Irvine’s Cloudvirga, a fast-growing mortgage software company that has raised more than $77 million from investors since its 2016 founding, has hired Maria Moskver as chief legal and compliance officer.
Blackstone’s Stearns Files BK
Santa Ana’s Stearns Holdings LLC, the country’s 20th-largest mortgage lender, filed for chapter 11 protection this morning in U.S. Bankruptcy Court in New York.
Budget Blinds Franchiser Bought
Irvine-based Home Franchise Concepts was purchased by JM Family Enterprises Inc. in Deerfield, Fla., on undisclosed terms.
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