Volcom stock closes higher than expected Costa...

Volcom stock closes higher than expected

Costa Mesa youth clothing company Volcom Inc. began its first day

as a publicly-traded company Thursday.

Volcom stock fetched $26.01 at the opening of trading Thursday,

above the firm’s expected price of $19. Volcom stock prices closed at

$26.77.

Volcom was launched in 1991. A company secretary said Richard

Woolcot, Volcom’s co-founder and chief executive, could not comment

on the firm’s initial public offering since he and other executives

are subject to a “quiet period” and cannot speak to the media.

Volcom’s motto is “youth against establishment,” and the firm’s

Nasdaq ticker is VLCM.

Irvine Ranch raises water, sewer rates

The Irvine Ranch Water District board voted unanimously Monday to

raise water and sewer rates.

The rate increase is part of the agency’s 2005-06 budget.

The district’s service area includes Newport Coast.

Most residents’ water rates are set to increase from 83 cents to

88 cents for each water unit -- one unit is 748 gallons.

The average customer’s monthly service charge is slated to

increase from $3.90 to $5.45

The district’s sewer fees are set to rise to $10 from $8.35.

District spokeswoman Marilyn Smith said most customers’ monthly bills

will go up by about $5.

The rate hikes are set to go into effect today.

The Mesa Consolidated Water District and the Newport Beach City

Council have also approved rate hikes recently.

City must report on sand-dune investigation

Newport Beach officials have until Aug. 18 to inform the California Coastal Commission on the results of the city’s

investigation into the destruction of a West Newport sand dune,

Assistant City Manager Dave Kiff said.

The city was informed of the dune’s disappearance in May.

The dune, on a beach between Sonora and Olive streets, was leveled

in mid-April.

Officials have said it is possible someone may have illegally used

construction equipment used for the Santa Ana River dredging project

to destroy the dune.

The Coastal Act protects sand dunes at California beaches.

If the city cannot find who leveled the dune, Newport officials

have until Sept. 1 to apply for a permit to restore the landform,

Kiff said.

JWA could have busiest summer ever

John Wayne Airport officials are anticipating 200,000 more

passengers will use the airport this summer than the same season last

year.

A news release said that 2005 could be the airport’s busiest

summer ever.

Heavy airport traffic is anticipated for today and Monday, and

airport officials recommend passengers arrive for flights two hours

early for the duration of the summer.