Peter J. Brennan
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.
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.
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.
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.
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.
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.
FINANCE: Irvine investment bank could go public, too
Irvine-based Boustead Securities LLC is having quite the month.
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.
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).
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.
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.
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.
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 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.
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.
GIVING: Plans to donate $20M annually
Bill Gross is back, at least in philanthropy.
Can next year get any worse than this year for Orange County’s publicly traded banks?
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.
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.
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.
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.
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.
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.
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.
Opus Bank (Nasdaq: OPB), the third-largest Orange County-based bank by assets, said Chief Executive and President Stephen Gordon resigned.
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.
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.
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.
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.
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.
Irvine-based Kofax Inc. is paying $400 million in cash to obtain the document imaging division of Nuance Communications Inc. (Nasdaq: NUAN).
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.
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.
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.
FINANCE: CEO sees stock run-up
Ivo Tjan knew his career path when he was 18.
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.
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.
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.
FINANCE: Struggling amid rising interest rates, skinnier ‘spreads’
It was a terrible week on Wall Street for Orange County’s biggest banks.
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.
KushCo, Terra Tech Light Up the Way
KushCo Holdings Inc. and Terra Tech Corp. are not just blowing smoke in the cannabis industry.