Michael Mussallem, Chief Executive of the Irvine based heart valve making company Edwards Lifesciences Corp. has said that the firm is expecting a revenue growth of 10% in the year 2010.

Mussallem told the attendees at Reuters Health Summit in New York that, “Presently, we are tracking a growth rate above 10% and expect that it will continue to remain the same. We are hoping that Wall Street will not be disappointed with our performance”.

It is also true that the forecast is topping Wall Street’s view.

Analysts are expecting the revenue of Edwards to rise at $1.42 billion in the year 2010 that will be 8% up from a $1.31 billion revenue projection for the current year.

Earlier Edwards Lifesciences Corp. also said that it is expecting a full-year 2009 revenue between $1.30 billion to $1.35 billion.

Mussallem also said that the increasing demand for the company’s heart valves, critical-care products and heart surgery devices will increase the sales in the year 2010.

The unsecured creditors of Freedom Communications Inc., the Irvine based company are planning to fight against the bankruptcy reorganization of the company. It is also said that they might be submitting their own competing plan.

The court-appointed committee of unsecured creditors has asked the judge handling Freedom’s bankruptcy case to issue orders for the company to handover its confidential financial details. The creditors will draft an alternative plan based on the reports.

Freedom is the parent company of the Orange County Register. It filed for bankruptcy in the month of September, 2009. The company has plans to turn over about 90% of its share to New York based JP Morgan Chase & Co. & 26 other secured creditors.

Raymond Cyrus Hoiles, family founder of the company and two other private equity investors will be seeing their stakes slashed to a combined 2% & will have an option to buy back 10% of the company. The step is going to cut Freedom’s debt from about $1 billion to $325 million.

The company came into debt in the year 2004 during the buyout by two private equity firms Providence Equity Partners LLC and Blackstone Group LP. The two of them kept the family members of Freedom in control.

In most of the cases it is seen that the unsecured creditors and shareholders end up getting the shorter end of the stick during the reorganization fights in a bankruptcy court.

As mentioned in the plan, the unsecured creditors will claim an amount of $300 million out of which, $5 million will be split between the shareholders & former employees. If unsecured creditors will vote against the plan, they will not get anything.

Alan Bell, former Freedom Chief Executive and a committee member said, “It is immoral and wicked that we will not get consideration of more than $5 million. The bankruptcy code gives exclusive right to the company to propose a reorganization plan but the creditors have the right to ask the court to terminate it”.

The creditors committee has requested the court to hear the request on Monday.

On Tuesday, Irvine-based drug maker, Spectrum Pharmaceuticals Inc., has announced a deal with Nippon Kayaku Co. The deal with the Japanese company includes the production and commercialization of a cancer drug. The drug named apaziquone would be used for curing patients affected with bladder cancer that is limited up to a certain level and hasn’t affected the muscle layer of the bladder. It would be produced and used in the Asian market.

In a recent research, it has been discovered that 70% of the recently diagnosed bladder cancer patients are suffering from cancer that hasn’t yet invaded the muscle layer of their bladders.

The company said that the deal with Nippon Kayaku will fetch over $151 million to Spectrum. Nippon would be providing $15 million up front to Spectrum and around $136 million would be paid in milestone payments and royalties by Kayaku.

Spectrum had also signed a deal with Irvine-based Allergan Inc. for developing the cancer drug in the year 2008. They are also presently working together to make apaziquone. Spectrum had then announced that Allergan is expected to pay around $345.5 million to Spectrum. The deal authorizes Allergan Inc. with the full rights to share and manufacture apaziquone in countries like U.S., Canada, Europe and many more.

On Tuesday, FMR LLC, which is a Boston-based fund manager, announced that it has an ownership stake of 13% in Grubb & Ellis Co., which is a Santa Ana-based company. FMR Fidelity’s investments amount to more than $1.4 trillion in terms of assets under management. It is the first investor firm that has disclosed its stake in Grubb & Ellis Co. after the real estate brokerage and investor firm had declared a refinancing plan of around $90 million at the end of October. This share investment was completed last week only.

The refinancing plan of Grubb will actually prove to be of help in paying off the two credit lines of the company that amounts to a gross $67 million. It would also double the amount of outstanding shares of the company.

On Monday, Grubb had announced that Thomas D’Arcy would be leading it as the chief executive and president in a week’s time. But the company hadn’t shared any details about the institutional investors who were involved in the refinancing plan.

FMR shared its ownership details in the company while submitting reports to the Securities and Exchange Commission. FMR has been long involved in Orange County investments. It has been an investor with many other companies as well like Abbott Medical Optics and Foothill Ranch’s Wet Seal Inc. and on Tuesday only it reported an increased stake in the Irvine-based Epicor Software Corp.

The Santa Ana-based company Grubb & Ellis Co. has announced Thomas P. D’Arcy as the new president and chief executive on Monday. D’Arcy will be joining the commercial real estate brokerage and investor firm by next week.

D’Arcy is heading the Inland Real Estate Corp. as the chairman of the corporation. Inland is a real estate investment trust of $1.5 billion. D’Arcy was associated with the corporation since 2005 as an independent director. D’Arcy also served as a principal in Bayside Realty Partners, which is a private investment and development firm before he joined Grubb & Ellis Co.

Grubb has done a thorough and complete research for finding a suitable CEO and have finally appointed D’Arcy for the position. The company was headed by Irvine Co.’s former executive Gary Hunt on an interim basis since July 2008 Scott Peters, the former chief executive of the company departed.

The necessity of hiring a new chief executive occurs in less than a month’s time when the company announced a plan of refinancing that could bring in $100 million of investments for the company. Hunt would be replaced by D’Arcy on the company’s board member’s list. He also has another experience of working with Bradley Real Estate Inc., which is also a real estate investment trust, from the year 1989 to 2000.

Clean Energy Fuels Corp. is a Seal Beach-based company that operates natural gas fueling stations for filling up fleets of taxis, buses and similar other vehicles. The company has reported its third quarter reports that were low beyond expectations of analysts on the Wall Street. It happened as a result of the reduction in natural gas prices.

The corporation reported a loss of $18.5 million that is high above the previous year’s loss of $12 million, that comprised of a charge of accounting for debt of $15.5 million and other losses T $3 million. The analysts were hoping for losses of $2.4 million. The sales were low by 8% to $31.2 million, whereas the analysts were expecting for $35 million of sales.

The revenue was also seen at a reduction spree. The reason for lower revenue can be attributed to the reduction in prices of natural gas. Though this has boosted the gross profit of the company from the second quarter by $700,000. The sales of natural gas also increased by 58% or 29.5 million gasoline gallon from the last year.

The investors aren’t too happy with the mixed outcome of the quarterly reports. The share prices of the company fell by almost 5% to $765 million in after-hours trading. On Monday, the shares closed at a 3% high on the Wall Street. Several companies are hoping that Clean Energy will definitely make it big this year.

The former chief executive of Los Angeles based brokerage firm CB Richard Ellis Group Inc., Ray Wirta, will be once again joining Koll Co., which is a Newport Beach-based real estate developer corporation. Koll announced the name of Wirta as the chief executive on Thursday. An approximate 6.7 million square feet area of commercial property for real estate business is owned and managed by Koll Co.

Previously also, Wirta has worked with Don Koll, who is the founder and Managing principal of Koll Co., at a few precedent corporations. Koll Co. is Orange County’s, one the real estate developers that offers more number of stories in their buildings. In the 1990s, Wirta left Koll to join the commercial real estate brokerage firm CB Richard Ellis Group Inc. as a chief executive. For the next eight years, he maintained his position but left the company in the year 2005.

In Koll, Wirta would be a member of the executive management team of the company. The management team includes Don Koll, the founder and managing principal of the company and other well-known managing principals like Jerry Yahr and Bryan McGowan.

Quicksilver Inc., which is a Huntington Beach-based company into making clothing’s, as a part of its cost cutting program has laid off 125 workers at both its headquarters and Southern California offices. A total of 200 jobs cuts were done by Quicksilver that involved 75 vacancies available in the company. The corporation is into making clothes that are inspired by surfing, skateboarding and snowboarding.

The units involved in the cuts are Quicksilver’s American unit, the Roxy brand that makes clothing for young girls and women and DC Shoes that is into making shoes and clothes. Mira Loma, which is the company’s warehouse, was also affected by the cuts.

The company had cut 200 jobs at the beginning of the year. In the last two years, the company has made 700 cuts including the recent cuts so far. Quicksilver is suffering from the worst retail slump and is also dealing with its financial issues as well.

After 2005′s unfortunate $560 million buyout of French ski maker Rossignol, the company entered into a deal of lifesaving investment and loan in June. Last year, Rossignol was sold for $50 million in a fire sale but as the company had borrowed to undergo the deal of buying Rossignol, the company was indebted with a sum of $1 billion of long and short-term debts. In order to help Quicksilver in refinancing a U.S. Line of credit and strengthen its European debt, Rhone Group LLC, which is a France based lending company, is providing around $150 million for the coming 5 years. The $25.6 million in warrants included in the deal grants Rhone the right to buy 20% shares of the company.

STEC Inc., which is a Santa Ana-based company, reported a major fall in share prices on Wednesday. The company develops flash memorial drives that are used by corporate and industries. On Tuesday, STEC had said that it might be possible that the orders from its major customer, Hopkinton, which is a Mass-based EMC Corp., is expected to lower down and this resulted in the lower value of the shares at $700 million. This marks a 40% reduction from its previous share value.

The company announced a very disappointing outlook for the fourth-quarter that made investors sell large amounts of their stocks on Tuesday. On Wednesday, this got worse. The expected adjusted profits for the fourth-quarter were reported at $25 million to $26 million, whereas the analysts were expecting adjusted profits of at least $26 million.

Similarly sales were also reported down from the analyst’s expectations of $106 million at $101 million to $103 million. This has raised doubts in the minds of both the analysts and the investors of the prospective growth of the company.

The drives made by STEC are used to store data and are mostly found in servers that are used by banks, governments, corporate, etc. For the previous year, the company had a full hold of the market for these drives but now companies like Intel Corp., Kingston Technology Co., Seagate Technology, Western Digital Corp. and similar other companies are offering tough competition to STEC. Since the beginning of the year to mid-September the shares of STEC were up by around 800%. But after that the share value has lowered by 45% reducing the complete gain at only 200%.

Smith Micro Software Inc., which is an Aliso-Viejo based cell phone software developer, reported a reduction in share prices on Thursday. This happened as a result of the fourth-quarter prospects announced by the company on Wednesday. The results have lowered the analyst’s expectations from the company. The share prices were lowered down by 20% to approximately $225 million on Wall Street.

The company reduced its sales expectations at about $105 million to $110 million, which is low from what the company had earlier announced. The analysts were hoping for average sales of around $111 million. Chief Executive Bill Smith said that the outlook for the fourth-quarter has been lowered down due to the uncertainty surrounding the economic environment.

The sales of Smith Micro for the third-quarter were reported at $28 million, though Wall Street analysts were hoping for $29 million of sales. The profits were a little high from the previous year at around $7 million which beat the analyst’s expectations of $6 million. The reported profit did not include one-time costs in it. Only last month, the company had bought Core Mobility Inc. for cash and stock of $10 million. Core Mobility Inc. is a Mountain View-based company which develops software for smart phones.