Any job should get a little old after say, 25 years, even for those at the top of their game. Not for Byron Roth, who’s forever been chairman of Roth Capital Partners in Newport, where the game is finding capital for small caps. I mention an acorn he just helped grow: “Ten-bagger,” Roth smiled. “Those are fun.” Another key to his longevity, “super-strong work ethic,” said Walter Cruttenden of his successor. “If an offering needed to be filed quickly, Byron and his team would be there all night to get it ready for the markets.” Enjoy Peter J. Brennan’s “The Venture Banker,” page 1 …
To central banking … OC goes to D.C., as President Trump taps PIMCO’s Richard Clarida for vice chair of the Federal Reserve—ex-Pimco co-chief Mohamed El-Erian was also under consideration—to replace Stanley Fischer. Clarida’s been a managing director and top adviser to the Newport Beach-based bond giant since 2006. Belongs to the Fed’s New Keynesian club, more goose-the-economy guy than inflation fighter. But not much more …
Bob Olson slept here … Balboa Island developer told Mark Mueller, this winter “come to Newport, you’ll want to stay here.” Olson did. Opening night, proprietor stayed in presidential suite at Lido House, his Cape Cod-style boutique hotel. First time P-suite, Olson confided. Not surprised … Olson used preopening night to launch $25M Boy Scouts campaign to help restore campsites at Irvine Ranch Outdoor Education Center after last fall’s fires. Fellow scout Rob Friedman, Ten-X co-founder, among supporters at The House …
Caught that “optional” surcharge at the bottom of a restaurant check? “In lieu of raising prices in the face of CA’s rising costs …” About 3%. Fair? Let Insider know …
Local realtors have been grappling with record-low inventory and SALT reductions and now a new salvo from Zillow. The fintech real estate disruptor is entering the “flipping” market, starting with Phoenix and Vegas. “Lot of talk of Zillow taking over the market,” said Rachel Mounce, an agent with Douglas Elliman in Laguna Niguel. “Only thing that will push out agents is not embracing technology. Sellers and buyers need good consultation when selling or purchasing large assets.” Zillow says it will use agents for its 90-day trades, Zillow Premier Agents …
Mark and Janet Hilbert’s Museum of California Art in Orange will triple in size in 2022. Word is out on the museum that opened in 2016, known for Depression-era California scene paintings. “More artists employed in Hollywood in the ’20s, ’30s than any other city,” Mark Hilbert told me from New York, where he was checking out some modern art at the MOMA before Pacific Symphony’s Carnegie Hall debut Saturday (see p. 1, this issue). Hilberts added contemporary art at their place, five new shows this month. Free. No surcharge.
