Peter J. Brennan

Executive Editor

Email: brennan@ocbj.com
Phone: 949-833-8373 Extension: 229

Recent Stories

Blackberry Completes Cylance Buy

Canada’s Blackberry Ltd (NYSE: BB) completed the previously announced $1.4 billion acquisition of Irvine’s Cylance Inc., a provider of Internet security using artificial intelligence.

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PIMCO’s $300B Man: King of the Short-Term Portfolio

On any given weekend, Jerome Schneider may dress like a typical surfer dude hanging out in Newport Beach with a scraggly beard and a vintage T-shirt from his high school days.

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EXCLUSIVE: The Bond King Retires

FINANCE: Gross pulls plug on 48-year career

Bill Gross is calling it quits and discusses his career in an exclusive interview with the Business Journal.

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Pacific Life Buys Into UCI Literacy Program

GIVING: $2M gift tops for next year

Pacific Life Foundation, the philanthropic arm of Newport Beach-based insurance company Pacific Life Insurance Co., likes to take the long view when it comes to giving.

OC Banks Begin Paying Dividends

FINANCE: Opus surprises investors

Two Irvine-based banks with declining share prices last week announced they would issue dividends in their latest efforts to impress Wall Street.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,706.48.

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Venture Capital Surges To Record Levels

FUNDING: Companies raises double in a year

Orange County once again wasn’t as attractive to investors as Silicon Valley, New York or even San Diego.

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Boustead Finds Niche With Chinese IPOs

FINANCE: Irvine investment bank could go public, too

Irvine-based Boustead Securities LLC is having quite the month.

OC Unemployment Steady at 2.8%

Orange County’s unadjusted unemployment rate remained 2.8% in December, unchanged from a revised 2.8% in November and down from a year-ago estimate of 2.9%, according to the state Employment Development Department.

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Edwards, Boston Scientific Reach Deal

Shares of Edwards Lifesciences Corp. (NYSE: EW) climbed after the largest publicly traded company based in Orange County reached a settlement with rival Boston Scientific Corp. (NYSE: BSX).

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Q&A The Art of Being a CFO

OC Execs Focus on AI, Taxes

The Business Journal’s Peter J. Brennan asked five local chief financial officers about the newest trends in corporate finance, and where their attention is focused.

Midday Stock Roundup

The S&P 500 fell 0.4% in midday trading to 2,575.66.

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From ‘Zero Business’ to $1.45 Billion

Alliant Insurance CEO Wants People to Buy In

Tom Corbett changed careers from medicine to insurance for a variety of reasons, including supporting his family.

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Midday Stock Roundup

Stocks climbed as trade talks began between the U.S. and China. The S&P 500 was up 1.3% in midday trading to 2,565.27, while the Dow Jones Industrial Average increased 1% to 23,665.22 and the Nasdaq was up 1.6% to 6,848.37.

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OC Stocks Fall Back to Earth in 2018

FINANCE: Most companies outpaced by the S&P 500

It wasn’t the best of years for Orange County’s publicly traded companies.

Select Interior Buys T.A.C. for $43M

Select Interior Concepts, Inc. (Nasdaq: SIC), an Anaheim-based building products and services company, said it bought T.A.C. Ceramic Tile Co., an installer of residential and light commercial flooring, for $43 million cash.

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As Great as 2018?

Signs Point to OC Slowdown

It’s been a super year for Orange County’s economy.

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Midday Stock Roundup

Major indexes continued falling – about 15% this month – on concerns about rising interest rates, slowing U.S. growth and a continuing federal government shutdown. The markets closed early for Christmas Eve.

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Bill Gross Sets Up $380M Foundation

GIVING: Plans to donate $20M annually

Bill Gross is back, at least in philanthropy.

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2019 Preview: FINANCE

Can next year get any worse than this year for Orange County’s publicly traded banks?

OC Unemployment Falls to 2.8%

Orange County’s unadjusted unemployment rate fell to 2.8% in November from a revised 2.9% in October and down from year-ago estimate of 3.1%, according to the state Employment Development Department.

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Chapman Predicts Slowing Economy in OC, US

ECONOMY: 2019 won’t see recession

Breathe a sigh of relief, Orange County. The region’s economy has at least one more solid year in store, and maybe more.

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Midday Stock Roundup

U.S. markets continued to decline amid signs of a global slowdown.

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Chapman Sees Slowing Economy

The economies of Orange County, California and the U.S. should continue their expansions next year, albeit at slower rates, according to Chapman University’s annual economic forecast.

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Midday Stock Roundup

The S&P 500 fell 0.4% in midday trading to 2,622.82.

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Uniti Bought for $63.9 Million

Uniti Financial Corp., the largest Korean-American based bank in Orange County, is being bought by Walnut Creek’s BayCom Corp. (Nasdaq: BCML), the holding company for United Business Bank, for $63.9 million.

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Windjammer Fund Raises $870 Million

Newport Beach’s Windjammer Capital Investors said it has completed fundraising for its fifth fund, Windjammer Senior Equity Fund V LP, with aggregate capital commitments of $870 million.

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Opus Bank’s Founder Departs; Questions Remain

FINANCE: Talk of possible sale heats up

Since Steve Gordon’s surprising departure last week as chief executive of Opus Bank, the once high-flying company he co-founded in 2010, the question is what will happen to Orange County’s third-largest bank by assets.

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Midday Stock Roundup

The S&P 500 climbed 0.8% in midday trading to 2,782.96.

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Crown Castle Enters OC Market in Big Way

TELECOM: OC jump hints at wireless potential

Rod Hanson wants to make sure your next-generation wireless devices will be able to connect to the internet super-quickly in Orange County—what’s known as 5G.

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Opus CEO Resigns

Opus Bank (Nasdaq: OPB), the third-largest Orange County-based bank by assets, said Chief Executive and President Stephen Gordon resigned.

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Midday Stock Roundup

The S&P 500 was up 0.9% in midday trading to 2,755.75.

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ABM’s Jue Takes Multi-Tasking to New Level

Assistant GC ‘Loves Being a Lawyer’

When Stacey Jue began her career as a lawyer, she was advised to prepare herself to make a lot of sacrifices.

Safety in Numbers

Security Staffing Giant Allied Universal May Seek IPO With Snap’s Ex-CFO

Allied Universal made a $1 billion buy in July to bring its employment to 210,000.

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Midday Stock Roundup

Stock markets were in a broad retreat today as tech and financial shares plunged. The S&P 500 fell 1.6% in midday trading to 2,690.37, the Dow Jones Industrial Average 1.8% to 24,949.28, and the Nasdaq 2.9% to 7,034.35.

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Unemployment Up to 2.9%

Orange County’s unadjusted unemployment rate rose to 2.9% in October from a revised 2.8% in September and down from year-ago estimate of 3.2%, according to the state Employment Development Department.

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SEC Drops Complaint Against Mazzo

The Securities and Exchange Commission is dropping its complaint of insider trading against James Mazzo, former chairman and chief executive officer of Advanced Medical Optics Inc., for allegedly tipping information about his company's acquisition to a friend, former professional baseball player Doug DeCinces.

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Kofax Buys Unit for $400M

Irvine-based Kofax Inc. is paying $400 million in cash to obtain the document imaging division of Nuance Communications Inc. (Nasdaq: NUAN).

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Allied Universal Names CFO

Santa Ana-based Allied Universal, the largest U.S. security firm, named Andrew Vollero incoming chief financial officer to replace Bill Torzolini, who retires next year after 15 years in the role.

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Midday Stock Roundup

U.S. stocks posted a broad decline led by technology stocks. The Nasdaq dropped 2.5% to 7,221.92; the S&P 500 fell 1.6% to 2,735.18; and the Dow Jones Industrial Average declined 1.9% to 25,503.98.

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BioLargo Tries Reverse Split, Seeks $7.5M, Nasdaq

MANUFACTURING: CEO says problems nothing new

BioLargo Inc. (OTC: BLGO), the largest publicly traded company in Westminster, is in the business of getting rid of bad odors at landfills.

CommerceWest Finds Niche In Customized Loans

FINANCE: CEO sees stock run-up

Ivo Tjan knew his career path when he was 18.

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Beacon Pointe Hires UBS Exec

Newport Beach’s Beacon Pointe Advisors, which has more than $9 billion in assets under management, hired Michael Dow, an executive at UBS Global Asset Management, as chief investment officer and chairman of its investment committee.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,727.06.

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Firms’ Expansion Slackens

Rate of Asset, Member, Worker Growth Slows

Orange County’s credit unions reported slowing growth in assets, members and employment, based on the Business Journal’s annual list.

OC Banks’ Asset Growth Slows

Report 10% Climb, 28% Jump in Profits

Orange County-based commercial banks’ asset growth slowed to 10% to $37.8 billion for the 12 months ended June 30.

OC Banks Among Falling Safes on Wall Street

FINANCE: Struggling amid rising interest rates, skinnier ‘spreads’

It was a terrible week on Wall Street for Orange County’s biggest banks.

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Midday Stock Roundup

The S&P 500 was up 0.8% 2,681.97.

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OC Banks on Revenue Tear

Pacific Premier, First Foundation Lead Sales

While tech companies often get the glory for rapid growth, six Orange County-based banks are among the leaders on the Business Journal’s list of publicly traded companies with the fastest-growing revenue over a two-year period ended June 30.

Cannabis Companies Explode With Sales

KushCo, Terra Tech Light Up the Way

KushCo Holdings Inc. and Terra Tech Corp. are not just blowing smoke in the cannabis industry.

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