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Sunday, Apr 14, 2024

Week In Review

Friday, June 13

Dragon Goes Private:

Carlsbad-based Dragon Alliance, an eyewear and accessory company, split from the Italian brand Oakley/Luxottica when a group of private buyers led by Dragon’s founder, Will Howard, and general manager, Aaron Behle, purchased the company for an undisclosed sum.

Howard founded Dragon in 1993. The company shared a private partnership with Oakley until both companies were acquired by Luxottica, a public company, in 2007 for $2.1 billion.

Behle, who is also the chief operating officer, said he and Howard led an initiative to take Dragon private because of branding control reasons.

Dragon will retain all 60 employees, Behle said, and continue operating from Carlsbad.

, Liz Wiedemann

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Net Income Triples:
RF Industries Ltd., a San Diego distributor of cable assemblies and connectors, reported net income of $542,000 for the second quarter ended April 30 was triple net profit for the like quarter of 2007. Revenue for the quarter was $4.5 million, up from $3.3 million in the like quarter of 2007.

, Mike Allen

Tuesday, June 17

Forty-Nine Galaxies, Four Engines Apiece:
Goodrich Corp. said it received production contracts from national defense contractors Lockheed Martin and General Electric Aircraft Engines to upgrade 49 aircraft for the Air Force. The contracts to supply pylons and nacelle systems for the Air Force C-5 Galaxy strategic airlifter Reliability Enhancement and Re-Engineering Program are expected to generate $600 million in revenues, Goodrich officials said. The deal called for work to be performed in Chula Vista, Riverside and Foley, Ala., through 2015.

, Michelle Mowad

Wednesday, June 18

Foreign Help For Stem-Cell Effort:
Australia and Canada pledged their support to California’s stem-cell initiative with partnerships intended to spur innovative stem-cell research.

Canada said it would donate an initial $100 million over three years to the Canadian Cancer Stem Cell Consortium, which will work in tandem with the California Institute for Regenerative Medicine, an initiative established in 2004 after voters approved Proposition 71. The forces will try to gain greater understanding of the role cancer stem cells play in the development of the disease.

Australia’s state of Victoria said the same day that it would join CIRM to jointly seek grant applications, evaluate them and make recommendations for funding research activities.

“Through this relationship, CIRM money will continue to be earmarked only for research that takes place within California, but we can expand and coordinate our overall efforts in certain areas through collaborative efforts funded by our colleagues in Australia,” said Alan Trounson, president of CIRM, in a statement.

, Heather Chambers

Thursday, June 19

Leap Ready To Borrow:
Leap Wireless International Inc., the parent to flat-rate cell phone carrier Cricket Communications, said the wireless subsidiary planned two separate debt offerings to raise $400 million in working capital, including the financing of its network expansion.

The company planned to offer $200 million in convertible notes due 2014, with an option for purchasers to buy an additional $30 million in notes. The second offering of $200 million was to consist of unsecured senior notes due 2015.

Interest on the two debt offerings was to be determined at the time of issue.

, Mike Allen


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