In Anaheim, WAR once stood for Westin Anaheim Resort … now it describes the acrimony over $4 billion in development in the resort area. Disney just extended an “olive branch,” and the city took it, ending two tax goodies for the resort operator—the 70% rebate of the TOT—transient occupancy tax—for four-diamond hotels, and a promise not to impose a new ticket tax on the theme park … deal done, but we’ve seen more high-fives among NFL owners and players … Know who’s dancing? Hotel developers and civic leaders in Garden Grove—folks like Steve Jones, mayor and real estate investor (Olympia Capital Corp.) … Luxury hotels Kimpton and Le Mériden are on the launchpad in GG at the once-stalled Grove District Hotel Resort. And in the Disney resort area—where five four-diamond hotels were once planned, just two are underway: Wincome and Marriott … Three more are on the sideline, absent subsidies and facing an $18-an-hour graduated city minimum wage come Nov. 6. …
Musical chairs at some of OC’s biggest nonprofits. In four months’ time, Frank Talarico Jr. stepped down as CEO of Goodwill Orange County, and Dan McQuaid at OneOC. Melissa Beck left Big Brothers Big Sisters of OC in June, and on Aug. 23 it was Heather Stratman at Association of CA Cities OC departing. Sloane Richardson-Keane just named as Beck’s replacement at BBBS. Combined with our friend John Caldwell sharing news that wondrous J.F. Shea Therapeutic Riding Center added a first-time chief development officer—Agnes McGlone Swanson—as it rides an 8-year winning streak of boosted revenue, tells Insider the nonprofits here need to be like politicians—always “raising.” It’s big business with big competition. Goodwill’s annual revenue tops $100M, and the boards are stacked with C-suiters. Not a bad thing, just reality …
Traders call it a “dead-cat bounce,” a pop in a single-digit stock for no other reason than it’s cheap, or due. Throw money at a dead cat, and even it will move. Behold the new dead cats, alive and well, and not from capital CPR. Irvine IT outfit Lantronix traded at 83 cents (see story, this page) Feb. 2016. It’s up about 700% to $5.30, resurgent fortunes and share price coinciding with the arrival of CEO Jeff Benck and a new business model, the exploding segment of Internet of Things, or IoT … Peregrine Pharma also changed direction—proxy-bullied by recalcitrant shareholders—remaking a Tustin drug company into a contract manufacturer, and it, too, is a kitty purring loudly … The renamed Avid Bioservices has doubled sales, and its shares are up some 150% over the past year under new CEO, Roger Lias …
