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Thursday, Jun 20, 2024
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OCBJ INSIDER

“The tech companies are realizing that Silicon Valley is at risk. It’s too expensive. Housing is ridiculous in the Valley.”

So said Alteryx co-founder Dean Stoecker, speaking to the Business Journal last year, when discussing the idea of moving one of OC’s tech darlings further north.

Last week’s news that Stoecker was turning over the CEO reigns at the $10B-valued firm (NYSE: AYX) to a Silicon Valley vet and resident of the Bay Area, Mark Anderson, raised some initial eyebrows about whether a move might now be reconsidered.

Company officials quickly nixed that idea. They told the Business Journal that Anderson would be splitting his time between his home town and OC, and that a corporate move wouldn’t be happening; see our front page story for more on Anderson, and Stoecker’s new role as executive chairman.

Regulatory filings back up that statement. Anderson’s getting a $300,000 relocation bonus as part of his new contract. Maybe not enough for a down payment on an ocean-front home in CdM (see page 32 on that area’s brisk pace of luxury sales), but enough for a 20% deposit on a $1.5 million home near Alteryx’s new Spectrum Terrace HQ in Irvine.

Baseball fans have a few items to peruse in this week’s edition.

See our back-page Leader Board on the record-setting legacy of former UCI and USC coach Mike ‘Skip’ Gillespie from two who knew him well, UCI trustee Jim Mazzo and super-agent Scott Boras.

See this page for our story on the newest charitable home run from Deidre Pujols, wife of future Hall of Famer Albert Pujols. Speaking of four baggers, the famous slugger made his own news Sept. 18 when he hit career home runs No. 661 and 662, passing Willie Mays for fifth on baseball’s all-time list.

That momentous event—played in front of an empty crowd, and with the team missing the playoffs—clearly wasn’t what Arte Moreno envisioned when he signed the slugger to a 10-year, $240M contract that’s now winding down.

It’s not been all bad news for the Angels owner this year. Consider his recently completed deal with the city of Anaheim, which sold Angel Stadium and the surrounding land at the 150-acre site for $150M in cash, in return for a long-term commitment to the city. That’s less than a quarter of the price he’s paying for the combined contracts of Pujols and Mike Trout (12 years, $426M).

It’s not all quiet on the arts scene these days. The Orange County Museum of Art says it has raised $53M of the $75M cost for its forthcoming home at the Segerstrom Center for the Arts in Costa Mesa.

The under-construction project just held a topping-out ceremony; Clark Construction Group is leading the museum’s building effort. Some 350 people are involved in its construction.

Notable donors include Noella and James Bergener; Henry Davis and Christina Fazzone; Cynthia and Stephen Fry; Jennifer and Anton Segerstrom; the Segerstrom Foundation; Jim and Pam Muzzy; Jeri and Danny McKenna; and Hal Struck.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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