Aerospace
Boeing Co. said it will start another round of engineer buyouts, including at its Southern California operations, and said it will issue layoff notices this month in Washington state, according to news reports. It didn’t specify the number of job cuts. Other work groups will be affected later, and two additional rounds of buyouts and layoffs in engineering will follow later in the year. The company also plans spending cuts outside of labor costs.
Apparel
Broncs Inc. in Compton reached an initial deal with American Apparel LLC to take over the lease of its textile facility in Garden Grove, according to news reports. Company executives couldn’t be reached, and it’s unclear whether Broncs plans to move to Garden Grove or views the facility as space for expansion. The knitting and dye house employs 332. Los Angeles-based American Apparel filed for Chapter 11 bankruptcy in November.
Finance
Carrick Capital Partners in Newport Beach invested $22 million in Perfect Sense Inc. in Reston, Va. Perfect Sense develops software for web and mobile publishing platforms, online revenue programs, metrics dashboards and personalized, targeted content delivery. It will use the funds for product development and hiring sales and marketing staff.
Lotus Innovations LLC in Irvine acquired Commerx Corp., a leading global provider of digital and telecommunications services. The buy was on undisclosed terms. Commerx develops telecom and internet network infrastructure and services for companies in over 85 countries. It focuses on network transformation, telecom services, IT managed services, and digital strategy.
Government
The city of Irvine earned top marks from the Fiscal Times for fiscal strength among U.S. cities. The online publication surveyed 116 cities with populations of at least 200,000 and analyzed the local governments’ audited financial reports. Irvine got a top score of 100 out of 100 based on ratios that included general fund balance to expenses; long-term debts to revenue; and pension contributions to revenue. Employment and property value data from 2015 also factored into cities’ final scores.
Hospitality
Hospitality manager Montage Hotels & Resorts in Irvine changed its name to Montage International. The Montage Hotels & Resorts brand is now the name for a division of the company, along with other units in its portfolio that include Pendry Hotels, and Montage Residences. Montage Hotels & Resorts now refers to the company’s high-end resorts, such as the flagship Montage Laguna Beach.
Restaurants
The first Taco Bell restaurant in China opened in Shanghai’s central business district as part of the fast food chain’s plan to open 1,000 restaurants overseas by 2022. The location retains the chain’s California-inspired design but offers menu items adapted to Chinese preferences, including a Shrimp and Avocado Burrito and a spicy Sriracha sauce on the Volcano Chicken Burrito.
Retail
Nordstrom Inc. in Seattle said it plans to close its department store at MainPlace Mall in Santa Ana in March. The closure will affect about 195 employees. The retailer is the largest tenant at the 1.1-million-square-foot mall, leasing about 169,000 square feet, according to CoStar Group Inc. data. The company is completing a major renovation of its South Coast Plaza location in Costa Mesa, Nordstrom said.
Services
Anaheim-based Marina Landscape Maintenance Inc. was acquired by BrightView Landscapes LLC in Plymouth Meeting, Pa., on Jan. 1. Terms were undisclosed. Marina Landscape is a 44-year-old company that employs about 650 and serves 200 customers in Orange County, Los Angeles, the Inland Empire and Northern California markets. BrightView is a landscaping design and maintenance firm that employs 22,000 and has clients in 30 states.
Alorica Inc. in Irvine named Tania King chief legal officer and chief compliance officer. She was chief legal officer, chief compliance officer and corporate secretary for 15 years at Irvine-based Advantage Solutions and chief strategy officer at Advantage’s largest subsidiary for a year. Alorica runs call centers and was No. 15 on the Business Journal 2016 list of the largest OC-based private companies with $1.1 billion in annual revenue.
