AMUSEMENT
Disneyland Resort pumps more than $5.7 billion into Southern California’s economy each year through its payroll, state and local taxes, and area spending by resort visitors, according to a study commissioned by Walt Disney Parks and Resorts.
FINANCE
Opus Bank’s chief operating office resigned after about two years at the Irvine-based bank. Romolo “Ron” Santarosa joined Opus in 2013 in the new position of executive vice president and chief operating officer. He’s pursuing “other interests,” according to a statement by the bank, which doesn’t plan to hire a replacement.
HEALTHCARE
Shares in Irvine-based NuGene International Inc. temporarily plummeted after the skincare products development company said it had no affiliation with a 28-page mailer touting the stock. The share price had jumped by two-thirds in the past month. Late last week, it had regained about a third of the loss.
HOSPITALITY
Newport Beach-based hospitality sales and marketing company Preferred Hotels & Resorts promoted four people to a senior executive team. Ken Mastrandrea is now chief operating officer overseeing brand development and corporate operations. Hiren Chandiramani is chief financial officer and will guide financial planning, activities and compliance. Casey Ueberroth is chief marketing officer covering global marketing and guest loyalty programs. Michelle Woodley is executive vice president with duties that include business development. All but the marketing slot are new positions.
LAW
Business litigators Michael Katz and Adrianne Marshack joined trial law firm Greenberg Gross LLP in Costa Mesa. Katz for the past three years headed Irvine-based Katz Yoon LLP, a boutique litigation firm he cofounded in 2012 that is now closed. Marshack also was a partner at Katz Yoon. Melissa Yoon, the other founding partner alongside Katz, left the firm in March to serve as general counsel of Aliso Viejo-based Ambry Genetics Corp.
RESTAURANTS
Costa Mesa-based El Pollo Loco Holdings Inc. signed its system’s largest franchisee to open six restaurants in Utah by 2018, the chicken chain’s second deal in the past 90 days that has current franchisees planning units in that state.
The Pinot Provence bistro at the Westin South Coast Plaza Hotel will close this month after an 18-year run, according to the Orange County Register. The restaurant is owned by Patina Restaurant Group in L.A.
RETAIL
Costa Mesa-based Anna’s Linens Inc. is preparing to file for bankruptcy, the Wall Street Journal reported. The home goods retailer has hired Los Angeles-based law firm Levene, Neale, Bender, Yoo & Brill LLP to help with the process. The company is seeking a lead bidder for its stores but could liquidate some, the report said. That report and a second one on a retail trade news website attributed the company’s woes to general retailers selling more linens and to a lack of ecommerce efforts by the company. Founder and Chairman Alan Gladstone founded Anna’s Linens in 1987. It has about 300 stores in about 20 states and Puerto Rico, and 3,200 employees. The company filed for bankruptcy in 1993 and emerged from the process in 1994.
The Germany-based Aldi grocery store chain plans to open about 50 stores in Southern California in March, including one in Buena Park, according to news reports. The stores sell discounted groceries.
Irvine-based video game designer Ready at Dawn will be among the first companies to partner with Oculus VR Inc. on gaming titles for the highly anticipated Oculus Rift headset unveiled last week in San Francisco. Oculus moved its headquarters from Irvine to Silicon Valley after its $2 billion sale last year to Facebook Inc. The Rift will be available in the first quarter of next year and cost about $1,500 with a VR-ready PC.
TECHNOLOGY
Irvine-based technology nonprofit The Portal plans to create 100 internships this year for college students at local startups and other businesses. The Portal is a joint venture of the Beall Family Foundation in Newport Beach and K5 Ventures in Irvine started by former Rockwell Corp. Chairman Don Beall.
