Why business owners MUST plan ahead

The focus of our column this month is omissions. If you are a small business owner, your home and business are probably your two biggest assets, Yet it’s possible, even likely, you’ve included your home but omitted your business in your estate plan.

If you have made this omission, you’re not alone. Half of the 30 million small business owners in the U.S. have not done succession planning.

Effects of not planning

Often, the impact of this omission when a business owner dies or is incapacitated is that sales and services cease, employees don”t receive paychecks and eventually leave, and the business fails. The primary source of the family’s income is abruptly cut off.

Ultimately, the executor may be forced to shutter the doors and sell the assets at liquidation value, the lowest price possible for a business.

The effects of this omission don’t just impact distributions to beneficiaries. Long-term customers and clients may face delays and interruptions and will need to take their business elsewhere. Vendors and creditors may have to pursue collections against the estate. Sometimes, surviving spouses must file bankruptcy.

Faithful, older employees will suddenly be unemployed and too old to find other jobs. Almost half of the private workforce in this country work at small businesses.

This omission, with grim consequences for so many, need not happen. Here are steps you can take to include your business in your estate plan.

Estate planning for a business

First, make sure your primary estate planning documents — your will, living trust, and power of attorney — include your business. Your trust should state your wishes about how it should be divided upon your death and who will run it when you can’t.

If your trust is a few years old, meet with your attorney to review it. Your management team and the business itself may have changed, necessitating an update to the terms of your trust.

If you have partners or family members co-managing the company, you will want to consider utilizing a buy/sell agreement. Usually, this grants each owner or the company itself the first rights to purchase a deceased or incapacitated owner’s share, according to a pre-set valuation formula. The remaining partners or shareholders will buy out the exiting owner’s share either by directly paying the owner or the heirs.

Consider a key-person life and disability policy with the business as the beneficiary. When an owner dies or becomes incapacitated, insurance proceeds from a key-person policy can keep the business running, or be used to buy out the deceased owner’s interest.

Important for single-owner businesses

If you don’t have partners or family members to take over management, it’s essential to identify someone you trust to run the business in the short term, until it can be sold. The last thing you want is employees and family members arguing over who is in charge at such a sad and difficult time.

Your transitional manager can be a long-term employee, trusted business associate, or friend. It need not be the same person named as your trustee. The transitional manager need not be the same person who sells the business. You can select your trustee or another capable person to handle the sale.

It should be someone familiar with your company who’s level-headed with some management skills and experience. Name a second person in case your first choice is not available.

You’ll want to give your transitional manager detailed instructions and authority. They should be aware of where relevant documents are located. They should know how to be added quickly as a signer on bank accounts.

Make sure everyone involved in your business, including your key employees, attorney, banker, and CPA, have met this person and acknowledge his or her authority. It is better to have disagreements now,  while you are still  here to referee quarrels and console passed-over employees and relatives.

Go on vacation and ask your transitional manager to cover for you for a couple of weeks to work out the kinks.

Meet with your attorney to draft the appropriate documents and instructions. Allow for their compensation in your planning documents, and provide insurance or waivers to limit their liability.

Plan on retirement instead

Do not wait for death or incapacity to take a break from the business you worked so hard to build. The best advice is to plan now on selling or transferring your business interest to retire. Plan so you can pursue other interests and have some enjoyment not related to work.

Value your business now and set a timeline for your planned exit date. Work with consultants to build the value of your company to maximize the sale price. Take that overdue vacation.

Michelle C. Herting, CPA, AEP specializes in Trusts, Estates, and Business Valuations. She has offices in Riverside, Santa Monica, and Newport Beach.

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Pre-printed contracts – to use … or not

Pre-printed legal contracts and forms are an increasingly popular way to save time and money. They allow you to avoid “re-creating the wheel” by drafting a new contract each time one is necessary. Whether it’s for a real estate purchase or a general business contract, these out-of-the-box forms are enticing… but they come with some drawbacks, too.

Pre-printed forms, such as purchase contracts (the California Association of Realtors’ residential purchase contract is a well-used, pre-printed contract), leases (such as the American Industrial Real Estate Association lease forms, also known as AIREA or AIR CRE forms) and others provide several key advantages.

These forms are usually comprehensive — covering all standard terms encountered in most typical transactions – quick, relatively cheap and non-technical. They allow laypeople, albeit, in many cases, licensed professionals such as Realtors or brokers, to draft legal agreements. Users find it easy to delete provisions that are not applicable or modify to show the parties’ agreement.

However, too often users fail to carefully review the pre-printed sections to know what the contract actually says. It may include terms that were not intended or conflict with the parties’ intent.

People who are charged with completing such forms need to read the document thoroughly several times before completing an agreement for an actual contract.  When presented with a pre-printed form, you should read the entire contract to ensure it correctly reflects the parties’ intent, or ask an attorney to do so.

Reading just the filled-in blanks for key monetary or timing terms may result in unintended consequences. Also, the form user should beware that the party who drafted it may have included clauses favorable to that party. For instance, a broker-drafted form may include payment protections for that party, even though a buyer and seller are the intended actual signing parties to the contract.

Pre-printed forms can be advantageous where transactions are consistent and don’t vary much from a standard set of terms. They can help keep company policies and deal terms consistent.

A master form with alternative provisions for different scenarios can be helpful. They bridge the gap between a pre-printed form and a contract drafted from scratch. Many lawyers use some sort of master form, or can help clients develop one. Clients or their lawyer can then apply the template to different transactions, minimizing cost and maximizing efficiency.

Attorneys want their clients to have enforceable contracts that reflect the parties’ intent. Clients want timely, accurate, efficient and cost-effective contracts. Complex transactions that are not typical of a client’s normal transaction deserve a careful drafting hand — one which is trained to recognize business and legal issues of enforceability and practicality. More standard transactions may be well served by an experienced employee who is versed in the form contract terms, in addition to being careful to match the transaction terms to the contract form.

There is no substitute for the careful review by an attorney experienced in the subject area. However, understanding where and when a pre-printed form is most appropriate — and when to call an attorney — can help a business owner best manage its resources.

Nancy Park is a partner and the Sacramento office managing partner at Best Best & Krieger LLP, where she focuses on real estate transactions, leasing, finance and business contracts for private and public clients. She can be reached at nancy.park@bbklaw.com

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Biz briefly: Costa Mesa-based Burba Hotel Network bought by Northstar Travel

  • Nate Fikse, a financial advisor and field director at Northwestern Mutual – Orange County, is a recipient of the company’s 2017 Community Service Award. Fikse has received a $15,000 grant for Boys Town California.

    Nate Fikse, a financial advisor and field director at Northwestern Mutual – Orange County, is a recipient of the company’s 2017 Community Service Award. Fikse has received a $15,000 grant for Boys Town California.

  • Lawrence R. Armstrong: CEO of Ware Malcomb has been appointed to the Orange County United Way board of directors.

    Lawrence R. Armstrong: CEO of Ware Malcomb has been appointed to the Orange County United Way board of directors.

  • Joan P. Kelly, corporate director of Psomas has been appointed to the Orange County United Way board of directors.

    Joan P. Kelly, corporate director of Psomas has been appointed to the Orange County United Way board of directors.

  • Adrian Griggs, executive vice president and chief operating officer of Pacific Life Insurance Co. has been appointed to the Orange County United Way board of directors.

    Adrian Griggs, executive vice president and chief operating officer of Pacific Life Insurance Co. has been appointed to the Orange County United Way board of directors.

  • Tom Cuce, president of South California district of UPS has been appointed to the Orange County United Way board of directors.

    Tom Cuce, president of South California district of UPS has been appointed to the Orange County United Way board of directors.

  • Benefit Equity in Santa Ana has hired Peter J. Manning as the company’s new sales/pension consultant.Before joining Benefit Equity, Manning spent 18 years as a human resources and retirement plan consultant with a large 401k provider.

    Benefit Equity in Santa Ana has hired Peter J. Manning as the company’s new sales/pension consultant.Before joining Benefit Equity, Manning spent 18 years as a human resources and retirement plan consultant with a large 401k provider.

  • Dr. Michael J. Demeure will serve as program director of Hoag Precision Medicine, a new program focused on tailoring cancer treatment options for each individual patient, at Hoag Memorial Hospital Presbyterian in Newport Beach.

    Dr. Michael J. Demeure will serve as program director of Hoag Precision Medicine, a new program focused on tailoring cancer treatment options for each individual patient, at Hoag Memorial Hospital Presbyterian in Newport Beach.

  • Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Jack McMackin to business development executive in its Irvine office.

    Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Jack McMackin to business development executive in its Irvine office.

  • Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Rene Olivo to senior vice president of operations for Southern California.

    Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Rene Olivo to senior vice president of operations for Southern California.

  • Alicia Maciel has been chosen by the National Hispanic Business Women Association for its NHBWA Woman of the Year award.

    Alicia Maciel has been chosen by the National Hispanic Business Women Association for its NHBWA Woman of the Year award.

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Mergers & Acquisitions

Costa Mesa-based Burba Hotel Network has been bought by New Jersey-based Northstar Travel Group. Terms of the deal were not disclosed.

Burba runs hospitality events including the Americas Lodging Investment Summit (ALIS) in Los Angeles and the Hotel Investment Conference Europe (Hot.E) in London.

Northstar will offer Burba “new capabilities over a range of areas – event management, digital media and database marketing,” according to Burba founder and president Jim Burba.

Burba will continue to run the company. His team will remain with the company.

“We are thrilled to add the Burba hospitality events to our growing portfolio of global events serving the travel and hospitality industries,” said Tom Kemp, chairman and CEO of Northstar Travel Group, in a statement.

The acquisition is the largest in Northstar history, according to the company. Burba, in business for three decades, touts “140 events completed to date and nearly 100,000 international delegates.”

— Hannah Madans, hmadans@scng.com

On the move

Orange County United Way has appointed four Orange County business leaders to its board. They are: Lawrence R. Armstrong: CEO of Ware Malcomb; Tom Cuce, president of South California district of UPS; Adrian Griggs, executive vice president and chief operating officer of Pacific Life Insurance Co.; and Joan P. Kelly, corporate director of Psomas.

Peter J. Manning has been hired as the sales/pension consultant for Benefit Equity in Santa Ana. Before joining Benefit Equity, Manning spent 18 years as a human-resources and retirement plan consultant with a large 401k provider.

Dr. Michael J. Demeure will serve as program director of Hoag Precision Medicine, a new program focused on tailoring cancer treatment options for each individual patient, at Hoag Memorial Hospital Presbyterian in Newport Beach. Demeure will lead the strategy and development for the program, as well as identify new partners, develop a Hoag molecular tumor board and assess new software development. Demeure, a fellowship-trained endocrine surgeon, has been in academic surgical practice since 1991.

Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted three industry professionals within its Southern California team. Rene Olivo was promoted to senior vice president of operations for Southern California; Ray Polidoro is the firm’s new vice president in Los Angeles; and Jack McMackin is business development executive in Irvine.

New name

Santa Ana auto repair shop Swedish Asian Auto Service is rebranding as The Auto Service. After 37 years in business, the shops’ owners decided to rename the business following the expansion of vehicles they are equipped to service. The shop is at 800 S Grand Ave.

Milestones

Nate Fikse, a financial advisor and field director at Northwestern Mutual – Orange County, is a recipient of the company’s 2017 Community Service Award. Fikse has received a $15,000 grant for Boys Town California. Each year, 16 Northwestern Mutual financial professionals who demonstrate extraordinary service are awarded grants to benefit their nonprofits of choice. Fikse has been an active member of Boys Town California’s board of directors since 2012, co-founding the organization’s annual Uncork for Hope event. Over the past five years, he has helped to raise $862,000 for Boys Town California, funds that have contributed to establishing a behavioral health clinic, two additional family homes and an expansion of the organization’s community-based, preventative services for families. Boys Town California will use the grant to support direct program costs in the organization’s Family Home Program. The funds will address the critical needs of child abuse victims, providing basic supplies and household goods.

Theresa Simes been named to Farmers Insurance’s national insurer’s Presidents Council; she works in the company’s Fountain Valley office. The agents and district managers who make up Presidents Council are leaders in their communities and mentors to other agents and district managers.

Alicia Maciel has been chosen by the National Hispanic Business Women Association for its NHBWA Woman of the Year award. As the executive director of The Prentice School in Tustin, which serves students with learning differences such as dyslexia, dyscalculia, dysgraphia, ADHD, anxiety, and visual processing and executive function disorders, Maciel has dedicated herself to leading and challenging new ways for an educated and prosperous future for all of her students.

FltPlan has announced that Atlantic Aviation’s Orange County operation was voted one of the top fixed base operations (FBO) in the U.S. As reported in the 2017 Pilot Choice survey, Atlantic’s facility at John Wayne Airport (SNA) was ranked second in the Southwest, which includes California, Arizona, Colorado, Nevada, New Mexico and Utah. Their SNA operation was ranked amongst the Top 20 FBO’s nationally. The Pilots’ Choice Awards recognizes FBOs that provide arrival and departure services for private and business aircraft at more than 5,000 airports in the country.

Javier Verduzco received the Driver of the Year award in the large industrial category from the National Waste & Recycling Association. The NWRA honors the industry’s best drivers for exemplary safety records and customer service.  Verduzco began his driving career with Republic Services’ Huntington Beach division in 1980. He drives an average of 220 miles per week, in the service of more than 600 customers, collecting over 95 tons of waste.

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Biz briefly: LensGen lands $21M for cataracts device; donations sought for veterans

  • Irvine-based LensGen Inc. has raised $21 million for its Juvene device, an intraocular lens. LensGen says the implant restores “and continuous vision at all distances for patients with cataracts and presbyopia.” Presbyopia is farsightedness that usually occurs as people age. (File photo: Orange County Register)

    Irvine-based LensGen Inc. has raised $21 million for its Juvene device, an intraocular lens. LensGen says the implant restores “and continuous vision at all distances for patients with cataracts and presbyopia.” Presbyopia is farsightedness that usually occurs as people age. (File photo: Orange County Register)

  • Dr. Michael G. Mathews is the new chief operation officer at Auxilio, a healthcare document management firm based in Mission Viejo. Mathews is also president, COO and co-founder of CynergisTek, a wholly-owned subsidiary of Auxilio. (Courtesy of Auxilio)

    Dr. Michael G. Mathews is the new chief operation officer at Auxilio, a healthcare document management firm based in Mission Viejo. Mathews is also president, COO and co-founder of CynergisTek, a wholly-owned subsidiary of Auxilio. (Courtesy of Auxilio)

  • Jennifer Keller with Keller/Anderle LLP in Irvine has been named to the 2017 Lawdragon 500 Leading Lawyers in America. Keller has been named annually to the list since 2012. (Courtesy of Keller/Anderle)

    Jennifer Keller with Keller/Anderle LLP in Irvine has been named to the 2017 Lawdragon 500 Leading Lawyers in America. Keller has been named annually to the list since 2012. (Courtesy of Keller/Anderle)

  • Ziporah Paskman has joined Balanced Habits in Costa Mesa as marketing coordinator. She will be responsible for directing the company’s online presence, developing new marketing strategies, driving revenue and contributing to future product development. (Courtesy of Balanced Habits)

    Ziporah Paskman has joined Balanced Habits in Costa Mesa as marketing coordinator. She will be responsible for directing the company’s online presence, developing new marketing strategies, driving revenue and contributing to future product development. (Courtesy of Balanced Habits)

  • American India Foundation (AIF) hosted its fourth annual Orange County gala and raised $400,000 in support of AIF’s Ability-Based Livelihoods Empowerment (ABLE) initiative. Seen here is Shalini Khanna, director and honorary secretary of the National Association for the Blind India, an AIF Partner. (Courtesy of AIF)

    American India Foundation (AIF) hosted its fourth annual Orange County gala and raised $400,000 in support of AIF’s Ability-Based Livelihoods Empowerment (ABLE) initiative. Seen here is Shalini Khanna, director and honorary secretary of the National Association for the Blind India, an AIF Partner. (Courtesy of AIF)

  • American India Foundation (AIF) hosted its fourth annual Orange County gala and raised $400,000 in support of AIF’s Ability-Based Livelihoods Empowerment (ABLE) initiative. Seen here are Mona and Rup Shaw, AIF Orange County trustee, owners of MS International. (Courtesy of AIF)

    American India Foundation (AIF) hosted its fourth annual Orange County gala and raised $400,000 in support of AIF’s Ability-Based Livelihoods Empowerment (ABLE) initiative. Seen here are Mona and Rup Shaw, AIF Orange County trustee, owners of MS International. (Courtesy of AIF)

  • Cypress-based Earth Friendly Products celebrated its 50th anniversary in conjunction with Earth Month and in honor of Arbor Day. The company also gave back to the community by presenting a $150,000 check to the Discovery Cube Museums of Orange County and Los Angeles. (Courtesy of Earth Friendly Products)

    Cypress-based Earth Friendly Products celebrated its 50th anniversary in conjunction with Earth Month and in honor of Arbor Day. The company also gave back to the community by presenting a $150,000 check to the Discovery Cube Museums of Orange County and Los Angeles. (Courtesy of Earth Friendly Products)

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Irvine-based LensGen Inc. has raised $21 million for its Juvene device, an intraocular lens.

The company says the device restores “and continuous vision at all distances for patients with cataracts and presbyopia.” Presbyopia is farsightedness that usually occurs as people age.

The Juvene mimics the eye’s ability to change shape and adjust focus.

The financing was led by HOYA Group. It includes the option to expand the financial commitment by $5 million.

On the Move

Dr. Michael G. Mathews is the new chief operation officer at Auxilio, a healthcare document management firm based in Mission Viejo. Mathews is also president, COO and co-founder of CynergisTek, a wholly-owned subsidiary of Auxilio, where he has managed the day-to-day and operational functions of the company for more than a decade. Previously Mathews was the first chief security officer at Parkland Health and Hospital System in Texas.

Ziporah Paskman has joined Balanced Habits in Costa Mesa as marketing coordinator. She will be responsible for directing the company’s online presence, developing new marketing strategies, driving revenue and contributing to future product development.

New Venture

La Tavola Fine Linen Rental has opened a new showroom in Corona Del Mar at 3242 East Coast Highway. The showroom serves as a creative workspace for event producers, brides and grooms, and anyone looking to host an event.

Yokohama Tire Corp. in Santa Ana has rolled its public relations business into its longtime ad agency, Kovel Fuller. KF, which has been Yokohama’s ad agency of record since 2006, will now spearhead the tire maker’s public relations programs, corporate messaging and media outreach from its Culver City office.

Milestone

Jennifer Keller with Keller/Anderle LLP in Irvine has been named to the 2017 Lawdragon 500 Leading Lawyers in America. Keller has been named annually to the list since 2012. She has tried over 150 cases to jury verdict, ranging from complex civil matters — including business and intellectual property cases — to white collar to murder. She is the former president of the Orange County Bar Association and serves as a trustee at Chapman University.

Grants

Science@OC has received a $10,000 grant from the Verizon Foundation. The grant will support the nonprofit’s Orange County Middle School Initiative, designed to improve science education for thousands of students to better prepare them for STEM (science, technology, engineering and math) -related jobs.

Good works

Cypress-based Earth Friendly Products celebrated its 50th anniversary in conjunction with Earth Month and in honor of Arbor Day. The company also gave back to the community by presenting a $150,000 check to the Discovery Cube Museums of Orange County and Los Angeles. The donation supports the museums’ Eco Challenge exhibit and brings green chemistry into classrooms to empower children with the tools they need to “think green” at an early age.

American India Foundation (AIF) hosted its fourth annual Orange County gala and raised $400,000 in support of AIF’s Ability-Based Livelihoods Empowerment (ABLE) initiative. The program trains people with disabilities and facilitates their entry into the job market through advocacy, promoting inclusive growth in India.

Grocery Outlet made a $25,000 donation to Los Angeles Regional Food Bank, Second Harvest Food Bank of Orange County and Feeding America Riverside | San Bernardino Food Bank (FARSB). The donation was part of a March food drive that was held at all 20 stores located in the region to commemorate its one-year anniversary in Southern California.

St. Joseph Hospital‘s annual golf tournament in Newport Beach raised more than $280,000, which will support the hospital’s Behavioral Health Services. Funds will go toward additional patient beds along with new services and specialized treatment programs.

Anaheim-based Northgate Gonzalez Market has donated $100,000 to support organizations helping immigrants known as Dreamers, or children of undocumented immigrants. The donation will be divided equally among the four recipients: the TELACU Educational Fund; the Hispanic Educational Endowment; the San Diego Dream Team; the University of California Undocumented Students Legal Services Center.

Coming up

The Orange County Small Business Development Center, an economic development program of Rancho Santiago Community College District, will host several business-oriented workshops in May. They include:

–May 10: Legal Do’s and Don’ts for Business, 6-8:30 p.m., Rancho Santiago Community College District, 2323 N. Broadway, Room 107, Santa Ana. Cost is $25.

May 16: Contracting and Certification Orientation, 10-11:30 a.m., Rancho Santiago Community College District, 2323 N. Broadway, Suite 201, Santa Ana. Free.

May 23: The Art and Science of Creating a Successful Business Plan, 6-8:30 p.m., Rancho Santiago Community College District, 2323 N. Broadway, Room 107, Santa Ana. Cost is $25.

May 25: Business Loan Basics: What you Need to Know First, 10-11:30 a.m., Rancho Santiago Community College District, 2323 N. Broadway, Suite 201, Santa Ana. Free.

May 25: Electronic Delivery: How to Create, Market, and Sell High-Profit Products, 6-8:30 p.m., CIELO — Golden West College-Student Services Annex, Room 125, 15744 Goldenwest St., Huntington Beach. Free.

Help a veteran

Lori Renaud, franchise owner and director of Acti-Kare in-home care of south Orange County, is hosting a spring drive to benefit local veterans. Renaud teamed up with the nonprofit Veterans First to launch the drive, focusing on what the agency’s current needs are for their 85 veterans. Acti-Kare will be accepting donations through Memorial Day at 25283 Cabot Road, Suite 212, Laguna Hills. Donations needed include vinyl mattresses, twin sheet sets, pillow covers, and comforters. Veterans First works to provide services to the region’s homeless and at-risk veterans. They provide a multitude of services including housing, meals, life coaching counseling, life skills, access to mental health counseling, benefit counseling and transportation. To donate directly to Veterans First, go to veteransfirstoc.org/donate.

Status Update is compiled by contributing writer Karen Levin and edited by Business Editor Samantha Gowen. Please submit relevant items to sgowen@scng.com. Allow at least one week for publication. High-resolution photos also can be submitted.

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4 Orange County women to be feted for their roles in business

  • Anoosheh Oskouian will be honored at the annual Remarkable Women Awards Gala in May as Business Owner of the Year. A chemical engineer, Oskouian, a native of Iran, formed Ship & Shore Environmental Inc. to produce pollution abatement systems and services that provide cleaner and healthier air to breathe. Signal Hill, Calif.-based Ship & Shore has locations across Canada, satellite sales/service offices in Europe, and new offices in Singapore and China.

    Anoosheh Oskouian will be honored at the annual Remarkable Women Awards Gala in May as Business Owner of the Year. A chemical engineer, Oskouian, a native of Iran, formed Ship & Shore Environmental Inc. to produce pollution abatement systems and services that provide cleaner and healthier air to breathe. Signal Hill, Calif.-based Ship & Shore has locations across Canada, satellite sales/service offices in Europe, and new offices in Singapore and China.

  • Heidi Hendy will be honored at the annual Remarkable Women Awards Gala in May with the Lifetime Achievement Award. Hendy established Newport Beach-based H. Hendy Associates in the late 1970s. Four decades later, with Hendy as managing principal, the firm has been named as one of Interior Design Magazine’s Top 200 Architecture Firms 30 years in a row.

    Heidi Hendy will be honored at the annual Remarkable Women Awards Gala in May with the Lifetime Achievement Award. Hendy established Newport Beach-based H. Hendy Associates in the late 1970s. Four decades later, with Hendy as managing principal, the firm has been named as one of Interior Design Magazine’s Top 200 Architecture Firms 30 years in a row.

  • The 2017 honorees include Loreen Gilbert, Business Advocate of the Year; Heidi Hendy, Lifetime Achievement Award; Anoosheh Oskouian, Business Owner of the Year; Scharrell Jackson, Entrepreneur to Watch.

    The 2017 honorees include Loreen Gilbert, Business Advocate of the Year; Heidi Hendy, Lifetime Achievement Award; Anoosheh Oskouian, Business Owner of the Year; Scharrell Jackson, Entrepreneur to Watch.

  • Loreen Gilbert will be honored at the annual Remarkable Women Awards Gala in May as Business Advocate of the Year. Gilbert opened her own financial planning firm, Irvine-based WealthWise Financial, which helps women business owners achieve financial security and was appointed to the 19-member Trump Pence Small Business Advisory Council.

    Loreen Gilbert will be honored at the annual Remarkable Women Awards Gala in May as Business Advocate of the Year. Gilbert opened her own financial planning firm, Irvine-based WealthWise Financial, which helps women business owners achieve financial security and was appointed to the 19-member Trump Pence Small Business Advisory Council.

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Four women will be honored May 11 for their leadership roles as longtime business owners and executives.

The awards will be presented at the Women Business Owners, Orange County Chapter’s 21st Annual Remarkable Women Awards Gala. The theme this year is “Stand.”

“Our four honorees epitomize what you can accomplish when you stand for what you believe, stand in the face of obstacles, stand up for others, and stand together,” said NAWBO-OC President Liz Camaur.

This year’s honorees are:

Women Business Advocate of the Year: Loreen Gilbert: The Laguna Beach resident opened Irvine-based financial planning firm WealthWise Financial 20 years ago.

Gilbert serves as the company’s founder and president. She is the only Californian and the only woman on the Trump Pence Small Business Advisory Council, which has 19 members.

Lifetime Achievement Award: Heidi Hendy: The Newport Beach resident started H. Hendy Associates, also in Newport Beach, in the 1970s. Hendy serves as the firm’s managing principal.

Business Owner of the Year: Anoosheh Oskouian: The Newport Beach resident started Ship & Shore Environmental in 2000. She is an Iran native who immigrated to the U.S. when she was 14.

Ship & Shore produces pollution abatement systems.

Oskouian also launched Green Energy Industrial Solutions in 2010 to help people reduce energy costs.

Entrepreneur to Watch: Scharrell Jackson: The Lake Forest resident founded Newport Beach-based Leadership in Heels, a speaker series.

The series began in 2015 and has hosted five sold-out events. Jackson serves as Leadership in Heels’ chief executive.

She is also the COO and CFO for accounting firm Squar Milner. At the company, she established a philanthropic team that partners with various organization.

The women will be honored at the City National Grove of Anaheim on May 11. Tickets start at $95. More information can be found by calling 626-292-1400 or visiting nawbo-oc.org.

Founded in 1991, the local chapter of NAWBO provides information, resources and an environment for women business owners to help them thrive and grow.

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Former Sbarro CEO tapped to lead Irvine-based AquaBall

  • Sbarro CEO James J. Greco has been appointed CEO of Irvine-based True Drinks. The company makes AquaBall – a children’s beverage with no sugar, preservatives, calories, or artificial flavors. (Courtesy of AquaBall)

    Sbarro CEO James J. Greco has been appointed CEO of Irvine-based True Drinks. The company makes AquaBall – a children’s beverage with no sugar, preservatives, calories, or artificial flavors. (Courtesy of AquaBall)

  • Susan G. Komen Orange County has added Dr. Elizabeth Chao, MD, University of California, Irvine to its board of directors for 2017-2018. (Courtesy of Susan G. Komen OC)

    Susan G. Komen Orange County has added Dr. Elizabeth Chao, MD, University of California, Irvine to its board of directors for 2017-2018. (Courtesy of Susan G. Komen OC)

  • Dr. Lisa E. Guerra of Breastlink is a returning member to the Susan G. Komen Orange County board of directors for the 2017-18 term. (Courtesy of Susan G. Komen OC)

    Dr. Lisa E. Guerra of Breastlink is a returning member to the Susan G. Komen Orange County board of directors for the 2017-18 term. (Courtesy of Susan G. Komen OC)

  • Susan G. Komen Orange County has added Lisa Sparks, Ph.D., Chapman University, to its board of directors. (Courtesy of Susan G. Komen OC )

    Susan G. Komen Orange County has added Lisa Sparks, Ph.D., Chapman University, to its board of directors. (Courtesy of Susan G. Komen OC )

  • Jamie Reiter has been named meeting and event manager at The Westin South Coast Plaza in Costa Mesa. Previously, she served as a meeting and event manager at the Monarch Beach Resort, formerly St. Regis Monarch BeacH. www.LilySteinPhotography.com

    Jamie Reiter has been named meeting and event manager at The Westin South Coast Plaza in Costa Mesa. Previously, she served as a meeting and event manager at the Monarch Beach Resort, formerly St. Regis Monarch BeacH. www.LilySteinPhotography.com

  • Skyline Displays of Orange County in Lake Forest has recently added Christina Antonio as project manager. Antonio joins Skyline from EWI Worldwide, where she was an account manager and project manager for nine years.

    Skyline Displays of Orange County in Lake Forest has recently added Christina Antonio as project manager. Antonio joins Skyline from EWI Worldwide, where she was an account manager and project manager for nine years.

  • Skyline Displays of Orange County in Lake Forest has recently added Derek Arnold as director of creative services. Arnold was creative director at Skyline Exhibits of Los Angeles for the past 21 years.

    Skyline Displays of Orange County in Lake Forest has recently added Derek Arnold as director of creative services. Arnold was creative director at Skyline Exhibits of Los Angeles for the past 21 years.

  • Amway has opened its Amway North America California Business Center, or CABC, in Buena Park. The experience center offers flexible meeting spaces, training and demonstration areas, product and sampling zones, and in-store purchasing options for the company’s independent business owners. Amway’s engineering and facilities team partnered with Tom Rakestraw Architects of California to develop the CABC, as an expansion of Amway’s Center for Nutrilite Experience. The location was originally home to Amway’s first Nutrilite facility, opened in 1948. Address: 5600 Beach Blvd. (Courtesy of Amway)

    Amway has opened its Amway North America California Business Center, or CABC, in Buena Park. The experience center offers flexible meeting spaces, training and demonstration areas, product and sampling zones, and in-store purchasing options for the company’s independent business owners. Amway’s engineering and facilities team partnered with Tom Rakestraw Architects of California to develop the CABC, as an expansion of Amway’s Center for Nutrilite Experience. The location was originally home to Amway’s first Nutrilite facility, opened in 1948. Address: 5600 Beach Blvd. (Courtesy of Amway)

  • The Hydration Room, an IV and injection therapy clinic will open its fourth clinic in May at 1617 Westcliff Drive, inside the Castaway Commons retail center. The space will include five lounge chairs and complimentary WiFi and Netflix. The company was founded in 2014 by board-certified anesthesiologist Dr. Brett Florie. (Courtesy of The Hydration Room)

    The Hydration Room, an IV and injection therapy clinic will open its fourth clinic in May at 1617 Westcliff Drive, inside the Castaway Commons retail center. The space will include five lounge chairs and complimentary WiFi and Netflix. The company was founded in 2014 by board-certified anesthesiologist Dr. Brett Florie. (Courtesy of The Hydration Room)

  • OneOC has been given $50,000 from the Fieldstone Foundation for a Clare Rose Sabbatical Award, which will go to Dan McQuaid, OneOC’s president and CEO. He is one of five nonprofit executives from Orange and San Diego counties who have been awarded a three month paid sabbatical, with individual stipends and expenses to travel, reflect, or otherwise renew themselves in whatever non-work related manner they propose. McQuaid will spend his first 3-weeks abroad traveling with family in Scotland and Ireland. (Courtesy of OneOC)

    OneOC has been given $50,000 from the Fieldstone Foundation for a Clare Rose Sabbatical Award, which will go to Dan McQuaid, OneOC’s president and CEO. He is one of five nonprofit executives from Orange and San Diego counties who have been awarded a three month paid sabbatical, with individual stipends and expenses to travel, reflect, or otherwise renew themselves in whatever non-work related manner they propose. McQuaid will spend his first 3-weeks abroad traveling with family in Scotland and Ireland. (Courtesy of OneOC)

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On the move

Former Sbarro CEO James J. Greco has been appointed CEO of Irvine-based True Drinks. The company makes AquaBall, a children’s beverage with no sugar, preservatives, calories, or artificial flavors. Greco previously was recruited by former CEO Kevin Sherman and appointed as a company director in February. He now takes over day-to-day operations. Sherman will retain the role of president.

Greco currently serves as president and CEO of Pilgrim Holdings, a position he has held since October 2001. He is not taking a salary at True Drinks for the first six months as CEO, only stock, given his “confidence in the continued, rapid growth of the company,” according to a statement.

He also previously served as COO of Newk’s Franchise Co. from July 2014 until October 2016, as well as President from January 2016 until October 2016. Before that, Greco served as the CEO and president of Sbarro from January 2012 to October 2013, and as the CEO of Bruegger’s Enterprises from August 2003 to December 2011.

Susan G. Komen Orange County has added three doctors to its board of directors for 2017-2018. Elizabeth Chao at UC Irvine and Lisa Sparks, a Ph.D. at Chapman University, are new to the board, while Lisa E. Guerra, of Breastlink, is a returning member. Chao is an assistant professor in the division of Genetic and Genomic Medicine at UCI’s School of Medicine and the director of Molecular Genetics. Guerra is a board-certified, breast-dedicated surgeon working out of the Breastlink offices in Newport Beach and Laguna Hills. Sparks is the dean of the School of Communication and the McGaw Endowed professor in Behavioral Sciences at Chapman in Orange.

Skyline Displays of Orange County in Lake Forest has recently added Derek Arnold as director of creative services and Christina Antonio as project manager. Arnold was creative director at Skyline Exhibits of Los Angeles for the past 21 years. Antonio joins Skyline from EWI Worldwide, where she was an account manager and project manager for nine years. Skyline Displays of Orange County is a trade show provider of exhibits, graphics and services, serving Orange, San Bernardino and Riverside Counties.

Jamie Reiter has been named meeting and event manager at The Westin South Coast Plaza in Costa Mesa. Previously, she served as a meeting and event manager at the Monarch Beach Resort, formerly St. Regis Monarch Beach, from 2011 until coming to the Westin.

New ventures

Amway this week opened its Amway North America California Business Center, or CABC, in Buena Park. The experience center offers meeting spaces, training and demonstration areas, product and sampling zones, and in-store purchasing options for the company’s independent business owners. Amway’s engineering and facilities team partnered with Tom Rakestraw Architects of California to develop the CABC as an expansion of Amway’s Center for Nutrilite Experience. The location was originally home to Amway’s first Nutrilite facility, which opened in 1948. Address: 5600 Beach Blvd.

The Hydration Room, an IV and injection therapy clinic, will open its fourth clinic in May at 1617 Westcliff Drive, inside the Castaway Commons retail center. The facility will include five lounge chairs and complimentary WiFi and Netflix. The company was founded in 2014 by board-certified anesthesiologist Dr. Brett Florie.

Briles Law Group is expanding in Irvine with the recent opening of a larger office as well as launching a new San Jose location. The San Jose office mainly covers cases concerning workers’ compensation, employment law and personal injury. The office is managed by Andrew Lee, who served as Of Counsel for Briles Law Group for a year. The Irvine office is managed by the firm’s founding attorney Tracy Briles.

Capistrano Mazda is getting a new look. Owner Miles Brandon is creating a new Mazda Retail Evolution showroom next to the existing dealership. The showroom will replace the Volkswagen showroom, which was built in 1963. The Capistrano Volkswagen dealership was just remodeled, which increased its capacity, freeing up space for Mazda’s new showroom. Brandon has been operating the Volkswagen dealership for 20 years. He opened the Mazda dealership in 2015, relocating a 40-year-old Mazda dealership from Laguna Hills. The new Mazda showroom will be completed in the fall.

Grants

The nonprofit OneOC has been given $50,000 from the Fieldstone Foundation for a Clare Rose Sabbatical Award, which will go to Dan McQuaid, OneOC’s president and CEO. He is one of five nonprofit executives from Orange and San Diego counties who have been awarded a three-month paid sabbatical, with individual stipends and expenses to travel, reflect, or otherwise renew themselves in whatever non-work related manner they propose. McQuaid will spend his first 3-weeks abroad traveling with family in Scotland and Ireland.  OneOC provides support and solutions to more than 750 nonprofit organizations and community initiatives each year.

Coming up

HIreLive will host a job fair from 9-12:30 p.m. Tuesday, May 2 at the DoubleTree by Hilton Santa Ana, 201 East MacArthur Blvd. Parking is $5. Participants should bring 10 to 15 resumes and dress in professional attire. The job fair is free. 

Status Update is compiled by contributing writer Karen Levine and edited by Samantha Gowen. Submit items to sgowen@scng.com. High-resolution photos also can be submitted. Allow at least one week for publication. Items are subject to editing for length and clarity.

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