FT2006 ranked Pepperdine in the top 100 MBA programs in the world. This makes it #4 in the LA/OC metro (after UCLA, USC, and UCI) and #7 in CA.
Whether this degree is worth the money is very difficult for me to say. A good starting point is to see the education held by the leaders of your company and other companies you are considering. If a Pepperdine MBA fits in well against their education backgrounds, the case for this degree looks stronger. I would further advise you to see if an advanced degree is necessary or highly preferred to advance in your company or other firms you are considering.
As I recall, Pepperdine has strong corporate reputation in the Southland. I encourage you to seek out the views of others to see if they have a similar impression.