Latest news with #Irvine-based
Los Angeles Times
12 hours ago
- Business
- Los Angeles Times
Irvine's Five Point Holdings Acquires Hearthstone Residential for $59.25 Million
Irvine-based Five Point Holdings agreed to acquire a 75% stake in Hearthstone Residential Holdings LLC from Hearthstone Inc. and The Mark and Lynn Porath 2000 Trust for $59.25 million. Five Point agreed to pay $56.25 million in cash and up to $3 million in stock. The acquisition is expected to close by the end of the third quarter. 'Hearthstone has built an impressive track record over more than three decades, consistently delivering value through changing market conditions, and we are very excited to bring this exceptional platform and talented team into Five Point,' said Dan Hedigan, chief executive and president of Five Point, in a statement. Hearthstone was founded in 1992 and is focused on managing institutional capital in residential for-sale housing. Its business consists of a land banking program that provides capital to public homebuilders, a joint venture financing program, and advisory services for real estate investors and financial institutions. It has over $2.6 billion in assets under management and has funded more than 173,000 homes and lots, totaling approximately $21 billion in investments in connection with approximately 750 transactions. Sullivan & Cromwell LLP acted as legal advisor for Five Point Holdings. Alston & Bird LLP acted as legal advisor for Hearthstone Inc. and Hearthstone Residential Holdings LLC. Information for this article was sourced from Five Point Holdings.
The Herald Scotland
5 days ago
- Business
- The Herald Scotland
'The reforms fundamentally shift the taxation landscape'
The alterations elicited a particularly angry response from the farming community, which has been taking to the streets in tractors around the UK to make its feelings known. The changes mean relief will now only apply to the first £1 million of qualifying assets, with the remainder taxed at an effective rate of 20%. However a new survey commissioned by Brodies has revealed a 'widespread lack of understanding' about the forthcoming changes, with just 26% stating that they 'fully grasp the implications'. According to Brodies, which commissioned YouGov to survey 2,001 UK adults aged 50+, the findings signal a pressing need for law firms, tax advisers, and estate planners to proactively educate and support clients navigating the transition. While the survey found that 54% of respondents are aware of the IHT reforms, they remain unclear on the personal impact, which could leave them vulnerable to missed planning opportunities, Brodies noted. Fewer than half (41%) have a structured estate plan in place, while 35% acknowledge that they should plan but have not begun the process. In addition, the survey found that only 16% have sought professional guidance, despite the complexity of phased tax relief reductions and domicile rule shifts. 'These reforms fundamentally shift the taxation landscape for estates, businesses, and trusts,' said Mark Stewart, partner at Brodies. 'There is a clear knowledge gap among those impacted, underscoring the vital role of legal, tax and wealth professionals in guiding clients through structured succession planning.' Brodies noted that the findings of the survey underline the 'urgent need' for 'proactive dialogue' between clients and their professional advisers, with only 10% of respondents found to have engaged in detailed discussions about inheritance with their families. Fairness and the risk of dispute were highlighted as the leading concerns of respondents – 28% cited equitable distribution as a key issue, and 23% said they fear conflict due to wealth transfer. Brodies cautioned that without 'robust' estate planning and professional advice, families risk contentious probate litigation, unnecessary tax exposure, and uncertainty over asset protection strategies. 'Professional advisors must take a leadership role in informing clients,' Mr Stewart added. 'From succession structuring to navigating relief restrictions, we must ensure clients understand their tax position and the long-term consequences of inaction.' Concerns over the changes to inheritance tax planning have been expressed within the Scottish business community. Maxi Caledonian, the Irvine-based haulage specialist owned by industry veteran Gerry Atkinson, told The Herald in June that the changes will deny businesses the capital that is 'necessary for stability and continued growth'. Maxi said: 'Whilst we normally avoid such comments, we consider that the current Government's proposed heavy taxation of privately owned companies upon the death of shareholders removes planned essential business capital necessary for stability and continued growth and will adversely affect many private companies and associated employment increases. 'This appears to be the opposite of what the Government is claiming their primary objective is - namely to grow the economy - and successful expansion of private companies must be a major contributor to achieve this objective.' Farming chiefs say the changes will affect up to 70,000 farms but the UK Government insists the figure is much lower, with the Treasury stating that it expects around 500 estates to be impacted. A report published by CBI Economics has found that the reforms could threaten over 200,000 jobs and cut almost £15 billion in economic activity by the end of this Parliament.
Miami Herald
6 days ago
- Entertainment
- Miami Herald
In-N-Out sues YouTuber over fake employee prank video
In-N-Out Burger has filed a lawsuit against a YouTube personality for allegedly impersonating a company employee, filming customers without their consent and posting videos sharing false and misleading information about the popular California burger chain. The federal lawsuit, filed in Santa Ana on June 20, stems from a video Bryan Arnett posted to his YouTube channel on April 25. In the now-private video, Arnett posed as an In-N-Out employee at multiple Southern California locations while the chain's restaurants were closed for Easter Sunday. Wearing the restaurant's signature uniform - a white T-shirt, red apron and paper hat - Arnett pretended to take drive-thru orders from unsuspecting customers. The video showed him offering fake menus, making inappropriate comments and asking uncomfortable personal questions. In one clip of the video posted to TikTok, Arnett and an accomplice staged a scene where they pretended that a cockroach was found in a meal, with Arnett claiming the location was experiencing "a pretty bad cockroach problem" that week. Another clip captured him asking a customer if they would be interested in sleeping with his wife while he watched. According to the lawsuit, Arnett also made false statements suggesting the chain served food "doggy style" and that a "manager" had put his "feet in the lettuce" served to customers. This isn't Arnett's first run-in with In-N-Out management. He was previously removed from locations for trying to pay for strangers' orders with pennies and for posting fake "employee of the month" plaques featuring his own photo in dining areas. The content creator, who has built a following on YouTube and Instagram through videos of himself breaking social norms, recently posted a vlog showing him living inside a Planet Fitness gym to see how long he could stay before being ejected. In-N-Out, which operates 421 locations across the United States - 283 of them in California - has consistently defended its family-oriented brand reputation. The Irvine-based (as of now) company pursued legal action against another YouTuber for similar pranks in 2018. The chain is also known for hosting international pop-ups as a strategy to maintain its global trademarks and protect its brand identity worldwide. It has previously sued copycat restaurants in Utah, Mexico and Australia for trademark infringement. "In-N-Out cares deeply about its customers, the goodwill those customers have for its brand, and the Associates who work tirelessly to uphold that brand by their commitment to ensuring every customer has a positive experience," the lawsuit states. In a YouTube video posted Monday, Arnett responded to the legal action with apparent indifference. "It'll probably be annoying or whatever, but whatever's gonna happen is gonna happen," he said. The video has since been made private. Arnett did not immediately respond to requests for comment about the lawsuit. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
6 days ago
- Entertainment
- Yahoo
In-N-Out sues YouTuber over fake employee prank video
In-N-Out Burger has filed a lawsuit against a YouTube personality for allegedly impersonating a company employee, filming customers without their consent and posting videos sharing false and misleading information about the popular California burger chain. The federal lawsuit, filed in Santa Ana on June 20, stems from a video Bryan Arnett posted to his YouTube channel on April 25. In the now-private video, Arnett posed as an In-N-Out employee at multiple Southern California locations while the chain's restaurants were closed for Easter Sunday. Wearing the restaurant's signature uniform — a white T-shirt, red apron and paper hat — Arnett pretended to take drive-thru orders from unsuspecting customers. The video showed him offering fake menus, making inappropriate comments and asking uncomfortable personal questions. In one clip of the video posted to TikTok, Arnett and an accomplice staged a scene where they pretended that a cockroach was found in a meal, with Arnett claiming the location was experiencing 'a pretty bad cockroach problem' that week. Another clip captured him asking a customer if they would be interested in sleeping with his wife while he watched. According to the lawsuit, Arnett also made false statements suggesting the chain served food 'doggy style' and that a 'manager' had put his 'feet in the lettuce' served to customers. This isn't Arnett's first run-in with In-N-Out management. He was previously removed from locations for trying to pay for strangers' orders with pennies and for posting fake 'employee of the month' plaques featuring his own photo in dining areas. The content creator, who has built a following on YouTube and Instagram through videos of himself breaking social norms, recently posted a vlog showing him living inside a Planet Fitness gym to see how long he could stay before being ejected. In-N-Out, which operates 421 locations across the United States — 283 of them in California — has consistently defended its family-oriented brand reputation. The Irvine-based (as of now) company pursued legal action against another YouTuber for similar pranks in 2018. Read more: After 30 years, In-N-Out leaves corporate office in Orange County The chain is also known for hosting international pop-ups as a strategy to maintain its global trademarks and protect its brand identity worldwide. It has previously sued copycat restaurants in Utah, Mexico and Australia for trademark infringement. 'In-N-Out cares deeply about its customers, the goodwill those customers have for its brand, and the Associates who work tirelessly to uphold that brand by their commitment to ensuring every customer has a positive experience,' the lawsuit states. In a YouTube video posted Monday, Arnett responded to the legal action with apparent indifference. 'It'll probably be annoying or whatever, but whatever's gonna happen is gonna happen,' he said. The video has since been made private. Arnett did not immediately respond to requests for comment about the lawsuit. Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times.
Los Angeles Times
6 days ago
- Entertainment
- Los Angeles Times
In-N-Out sues YouTuber over fake employee prank video
In-N-Out Burger has filed a lawsuit against a YouTube personality for allegedly impersonating a company employee, filming customers without their consent and posting videos sharing false and misleading information about the popular California burger chain. The federal lawsuit, filed in Santa Ana on June 20, stems from a video Bryan Arnett posted to his YouTube channel on April 25. In the now-private video, Arnett posed as an In-N-Out employee at multiple Southern California locations while the chain's restaurants were closed for Easter Sunday. Wearing the restaurant's signature uniform — a white T-shirt, red apron and paper hat — Arnett pretended to take drive-thru orders from unsuspecting customers. The video showed him offering fake menus, making inappropriate comments and asking uncomfortable personal questions. In one clip of the video posted to TikTok, Arnett and an accomplice staged a scene where they pretended that a cockroach was found in a meal, with Arnett claiming the location was experiencing 'a pretty bad cockroach problem' that week. Another clip captured him asking a customer if they would be interested in sleeping with his wife while he watched. According to the lawsuit, Arnett also made false statements suggesting the chain served food 'doggy style' and that a 'manager' had put his 'feet in the lettuce' served to customers. This isn't Arnett's first run-in with In-N-Out management. He was previously removed from locations for trying to pay for strangers' orders with pennies and for posting fake 'employee of the month' plaques featuring his own photo in dining areas. The content creator, who has built a following on YouTube and Instagram through videos of himself breaking social norms, recently posted a vlog showing him living inside a Planet Fitness gym to see how long he could stay before being ejected. In-N-Out, which operates 421 locations across the United States — 283 of them in California — has consistently defended its family-oriented brand reputation. The Irvine-based (as of now) company pursued legal action against another YouTuber for similar pranks in 2018. The chain is also known for hosting international pop-ups as a strategy to maintain its global trademarks and protect its brand identity worldwide. It has previously sued copycat restaurants in Utah, Mexico and Australia for trademark infringement. 'In-N-Out cares deeply about its customers, the goodwill those customers have for its brand, and the Associates who work tirelessly to uphold that brand by their commitment to ensuring every customer has a positive experience,' the lawsuit states. In a YouTube video posted Monday, Arnett responded to the legal action with apparent indifference. 'It'll probably be annoying or whatever, but whatever's gonna happen is gonna happen,' he said. The video has since been made private. Arnett did not immediately respond to requests for comment about the lawsuit.
