Will Times Lien in on Register? Picture This on Pimco

The $4.2 million lien slapped on Freedom Communications and its flagship Register seems to carry extra significance since it came at the request of the L.A. Times, which has a claim pending on bills for past work distributing the OC daily. Adding weight is a buzz among some observers who wonder if an eventual settlement might mark a start by the Times toward an acquisition of the Register’s operations … Wonder what Register Publisher Rich Mirman makes of such speculation, which comes with word that he was appointed to a seat on Freedom’s board at the same time he took the CEO’s job left open by Aaron Kushner’s ouster?… Big picture on Pimco: the team that replaced Bill Gross on the Total Return Fund topped 91% percent of peers from Sept. 27 through March 10, according to Morningstar, with a 2.6% return. Bigger picture: another $8.9 billion flowed out of the fund in February, a rate that remains “staggering” and took it down to about $125 billion, according to Morningstar, or 57% off its peak a year ago. Biggest picture: the Total Return Fund peaked just about the time Gross began to take hits in the financial press in coverage that went on for months last year, reading like a cross between a horror picture and a soap opera. All of that now looks like a reminder of a cardinal rule on handling other people’s money: Don’t spook the clients … Speaking of fractions: Drugmaker Allergan and teen retailer Wet Seal both changed hands in recent deals that featured dramatically different terms. Allergan dodged a hostile takeover with its $72.5 billion sale. Wet Seal fetched $25 million in a bankruptcy auction. A look back magnifies the difference: the Business Journal’s list of public companies back in 1995 put Allergan’s market cap at about $1.9 billion, which means it grew by nearly 38-fold since then. Wet Seal sold for about half of its market cap 20 years ago … Anyone concerned that Wet Seal’s meltdown will leave a vacuum in OC’s retail atmosphere should check out Tilly’s at Irvine Spectrum, where a grand opening last week had founder Hezy Shaked and CEO Dan Griesemer mixing with a bunch of other OC apparel types, including John Wilson, president of Stance, and Volcom CEO Jason Steris … Gary Schoenfeld, boss of the Anaheim-based PacSun retail chain, will join Carlos Alberini, CEO of jeans maker Lucky Brand, and designer Trina Turk for honors from Otis College of Art and Design. Schoenfeld is in line for the L.A. school’s Creative Vision Award at its annual Scholarship Benefit and Fashion Show on May 2 in Beverly Hills … Chef Rainer Schwarz of the Driftwood Kitchen in Laguna Beach got extra flavorful plenty fast during a recent visit by a bunch of media types, including one whose companion politely informed the staff that he’s a strict vegetarian. The challenge turned into a shining moment, as the fellow sang the praises of a succession of small plates that ranged from a cauliflower soup with crispy shiitake chips and agrumato olive oil to creamed kale and a grilled Castroville artichoke with heirloom carrots and crispy Hawaiian onion rings. The meat eaters were just as pleased with Schwarz’s other menu for the table, by the way. Reporter Paul Hughes adds some other Laguna Beach flavors in his report on page 1 … Welcome back to Bobby Dorman, who rejoins the OCBJ ad staff this week and is coming to a high-end retailer near you.