Stories for July 2005

Friday, July 29

Three Department Stores To Close

Three Robinsons-May stores in San Diego County will be shuttered next year following a planned merger between Federated Department Stores and its rival, the May Department Stores Co.

The Name Is L-3 Titan Now

L-3 Communications announced July 29 that it had completed its acquisition of Titan Corp., renaming the entity L-3 Communications Titan Corp.

Hering Is New 'Navy Mayor'

Rear Adm. Leendert "Len" Hering Sr. became commander of Navy Region Southwest during ceremonies July 29.

Thursday, July 28

Viejas Plans More Slots

The Viejas Band of Kumeyaay Indians is contemplating a 45,000-square-foot addition to its casino near Alpine, the county of San Diego announced July 28.

USD Index Unchanged in June

The University of San Diego's Index of Leading Economic Indicators for San Diego County in June remained relatively unchanged from May.

Wednesday, July 27

Frye, Sanders in November Contest

San Diego City Councilwoman Donna Frye and former police Chief Jerry Sanders are headed for a runoff in the race for San Diego mayor.

Also-Rans Could Offer Oversight, Says City Attorney

City Attorney Michael Aguirre called for the City Council to consider three former mayoral candidates for appointment to the beleaguered San Diego City Employees' Retirement System.

Tuesday, July 26

Venture Capital Continues to Flow

Ten San Diego companies received about $252 million in venture funding during the second quarter, according to the latest survey released by Ernst & Young LLP and Venture One.

Sempra Buys Nevada Power Plant

Sempra Generation has completed its purchase from Reliant Energy of Reliant's 50 percent interest in a power plant in Boulder City, Nev.

Titan Reports a $620M Quarter

Titan Corp., a San Diego-based defense contractor, reported a net loss of $44.1 million, or 52 cents per share, on record revenue of $620 million during the second quarter.

Gonick Endowment Benefits Law School

Susan S. and Jerry G. Gonick of San Diego have pledged $1.75 million to the University of San Diego School of Law to endow a chair in the field of elder law.

L-3 Takes on Debt to Fund Titan Buy

New York-based L-3 Communications Holdings Inc. started off the week announcing private placements amounting to $1.5 billion to help fund its acquisition of Titan Corp.

Monday, July 25

Bequest Benefits SDSU Gaming Institute

The Sycuan Band of the Kumeyaay Nation has donated $5.47 million to San Diego State University to establish a center devoted to the study of American Indian gaming.

Progress Report

Sales and Leases

Wireless Health Combines San Diego Tech Firms

Thanks to the efforts of a dedicated group of visionaries from biotech, telecom and local organizations and institutions, San Diego is on the verge of becoming the epicenter for an exciting new growth industry , wireless health.

Possible Military Closure May Help Developers

Downtown San Diego developers are now a step closer to bidding on a prime piece of bay-front real estate

People on the Move

Banking and Finance Norma Gallardo has been promoted to assistant vice president of loan support at San Diego National Bank. Gallardo currently manages the loan servicing department and has more than 16 years' experience in the banking industry and has

Improved Business Climate Makes PR Effort Easier

Cole Davis' job of convincing the public that downtown El Cajon is staging a comeback turned out to be easier than he originally thought it would be.

For the Record

Business Events Calendar: July 26 - Aug. 1

Titan's 2nd Try at Sale Adds Up For L-3

About 13 months after Titan Corp.'s planned sale to Lockheed Martin Corp. collapsed, the San Diego defense contractor is taking another trip down the aisle. This time, however, the company doesn't expect to be left at the altar.

State Targets Firms for Unemployment Tax Fraud

The state is cracking down on companies that evade or underpay unemployment taxes.

SDG & E; Makes $20M Settlement With Enron

San Diego Gas & Electric Co. has settled its case against Enron Corp. for overcharges during the early days of the energy crisis in 2000.

Qualcomm's Quarterly Profit Is a Plus for Company Stockholders

Qualcomm Inc.'s better-than-expected financial results for its third quarter caused the company's stock to jump more than $3 to $39.01 the day after the news was released.

Heat Turns Up The Need for Conserving Electricity

With August just around the corner and true summer heat upon us, we are again reminded that California's energy supplies are running thin. Seven times last summer we set new records for the amount of power we consumed as a state. The good news is that t

Prepare for Sudden Departures

Question: How can I quickly backfill my best manager if he or she unexpectedly leaves my organization?

Shoppers Find One World Downtown

One World Fine Foods wants to be the neighborhood store for San Diego's urbanites.

L.A. Gets Private Firms To Pay for Developments

Elected officials in Dallas, grappling over how to pay for a large hotel adjacent to the city's convention center, are looking to Los Angeles for answers.

Week in Review

HP Cuts 14,000 Jobs: Hewlett-Packard Co. announced that it is cutting about 14,500 jobs, or 10 percent of its work force, over 18 months.

New Campaign Urging Visitors to GO Downtown

Armed with $500,000 in funding and in-kind donations, the Gaslamp Quarter Association is launching a concerted destination-style marketing campaign to tout Downtown's many restaurants, hotels, retail shops and other businesses.

Business Pushes on Despite Uncertainties At S.D. City Hall

A federal jury found then-Deputy Mayor Michael Zucchet and City Councilman Ralph Inzunza guilty of wire fraud and extortion related to charges that they accepted money in an attempt to help a strip club lobbyist repeal the "no touch" provision of the city

Landmark-Legacy Acquisition Is Finally Finished

It took a little longer than expected, but Landmark National Bank completed its acquisition of Legacy Bank on July 15 following approval by both banks' shareholders.

Encinitas Takes on the Supreme Court

Eminent domain can be a double-edged sword for developers who, on one hand, can reap big bucks on redevelopment projects, but also run the risk of being seen as heartless home stealers.

Ron Berry, president and owner, TSC Restoration Inc.

In 2001, when Ron Berry started his own small business, TSC Restoration, Inc., he set out to show the bigger companies that good customer service still matters more than size.

Proxy

Nanogen, Inc. is an advanced diagnostic company. Nanogen has generated revenues through contract research, grants and licenses and through commercializing molecular diagnostic research tools, such as the Molecular Biology Workstation and NanoChip Cartridg

El Cajon's Evolution

Anyone driving east on Main Street through downtown El Cajon for the first time probably wouldn't know that the city's core was once considered blighted.

Construction Journal

Contract Awards and Construction Milestones

Honda Accord Puts a Hybrid Into Mainstream

The announcement of the new Honda Accord Hybrid caused quite a commotion in my house one Sunday morning a few months ago.

Homes in North County Selling at a Higher Price Clairemont Village Shopping Center Sells for $29 Million

North County real estate enjoyed a healthy month in June, with the median price for all homes in the area , both single-family detached and attached , rising to $569,000, compared with $485,000 for ZIP codes to the south and east.

Northrop Grumman Drone Passes Test

Northrop Grumman Corp. reported the successful test firing of rockets from its Fire Scout aircraft.

Jobless Rate in San Diego Up in June

Unemployment in San Diego rose in June to 4.4 percent from May's rate of 3.8 percent, according to the latest report by the state's Employment Development Department.

Alexis V. Lukianov, president and chief executive officer of Nuvasive Inc.

Several years ago, Alexis V. Lukianov reluctantly moved to the West Coast.

'China Shock' Is Hitting America

These days, Chinese officials on the mainland seem to be developing a keen sense of humor. Just the other day, in response to a series of violent protests by farmers in rural China, a mainland official sought to explain the public embarrassments by tying

New Station Looks to Cash in on Talk Radio

San Diego-based Broadcast Company of the Americas plans to launch a new talk-radio show focusing on business and financial news.

Bidders Begin Assessing the Value of Metabolife

Three owners of Metabolife International Inc., the San Diego company that made a now-banned, ephedra-based weight-loss pill, recently filed motions in U.S. Bankruptcy Court to ensure the company's sale fetches the highest price.

S.D. Hotelier Finds Investing Locally Is to His Liking

San Diego-based American Property Management Corp., which owns and manages hotels across the county, is increasing its stake in its hometown with the acquisition of the Holiday Inn Mission Bay SeaWorld and plans to build a posh hotel in Downtown.

Uphill Drive: GM Bets On Fuel Cell Technology

Inside a nondescript gray building tucked in a Southern California industrial park, the costly and still-sputtering hydrogen revolution is under way.

Thursday, July 21

Local Online Job Recruitment Up in June

Online job recruitment in the San Diego area increased in June, according to a new employment index assembled by Monster Worldwide Inc., parent company of Monster.com.

Cohu Reports Second Quarter Profit of $5.6M

Cohu Inc., the San Diego-based maker of testing equipment for the semiconductor industry, reported net income of $5.6 million, or 25 cents per share, on revenues of $51.8 million for the second quarter ended June 25.

Ecke Ranch May Grow More Than Flowers

A portion of the Ecke Ranch, devoted to brightly hued fields of ranunculuses that have delighted visitors and passers-by each spring for more than 60 years, will soon be sprouting homes, if the owner gets his way.

Court Order Stops Planned UC Nurses Strike

A Sacramento Superior Court judge has stopped a one-day strike that University of California nurses had planned to stage July 21.

Tuesday, July 19

MCRD is Not Added to Base Closure List

The Base Realignment and Closure Commission on July 19 voted not to close the Marine Corps Recruit Depot San Diego, but added to the BRAC list the Navy Broadway Complex in Downtown San Diego.

HP Cuts 14,500 Jobs Worldwide

Hewlett-Packard Co. announced July 19 that it is cutting about 14,500 jobs, or 10 percent of its work force over 18 months.

Councilmen Convicted of Corruption Charges

City Councilman Michael Zucchet, who as deputy mayor had briefly sat in for Mayor Dick Murphy after he stepped down July 15, and City Councilman Ralph Inzunza were convicted on July 18 on federal corruption charges.

Monday, July 18

Small Business Spotlight: NextLevel Internet, Inc.

Jerry Morris, general manager and founder, NextLevel Internet, Inc.

Week in Review

Top Business News: July 8 - 14, 2005

Richard Rider

San Diego's Mayoral Candidates ... Up Close: Richard Rider

HP Coveting Lost Ground With Printer Technology

Hewlett-Packard Co. is firing a salvo at rivals in the increasingly crowded computer printer market by thinking small and precise.

Hotel Building Scarce in Orange County, Brisk in S.D.

One thing is noticeably absent amid a flurry of hotel activity up the road in Orange County: the sound of new hotels being built. By contrast, San Diego's planning pipeline has grown 23.5 percent.

From Hiroshima to London: Terrorism in Different Forms

From Hiroshima to London: Terrorism in Different Forms

South County Council Has Cash Available For Companies

The South County Economic Development Council can lend a helping hand for small businesses looking to expand.

Construction Journal

Contract Awards and Construction Milestones

Executive Profile: Georges Daou

Georges Daou is a serial entrepreneur, a man blessed with acute business instincts, a knack for figuring out where there's a need, and figuring out the best way to fill it.

Horton Plaza at 20: Precursor to Downtown's Rebirth

Few would have thought of Horton Plaza as a place for leisurely shopping in the early 1980s & #8722; well, at least not the kind of shopping most folks think of.

Wheelchairs Get Workout in Quad Rugby

There was no cheering section for a group of quadriplegics playing a pickup game of wheelchair rugby at the Oceanside Gym recently , just Neil Vesco and a few other supporters.

Commercial Developers Busy Planning, Little Else

The 15 largest developers of office, industrial and retail buildings in San Diego County showed little change in square footage in the past year, according to this week's

San Diego Biotechs Have Room to Move

San Diego's role as a hub of biotechnology has yet to create any shortage of biotech lab space, with healthy reserves continuing to keep rentals affordable, according to local real estate agents specializing in biotech.

Questions Surround S.D. Financial Planning Firm

Questions surround a San Diego financial planning firm.

More Development Set for Ex-Boeing Land

Aerospace may be resurging, but it can't eclipse the demand for prime commercial real estate. Boeing Co.'s excess land in Huntington Beach has proven ripe for redevelopment.

Tyranny of Eminent Domain All Too Obvious

Tyranny of Eminent Domain All Too Obvious

ResMed Buys Into Kearny Mesa

ResMed Inc. has purchased the last remaining 9.78-acre parcel of land at San Diego Spectrum in Kearny Mesa for $21 million for a new national headquarters.

Qualcomm Bosses Garner Big Pay Hikes, Bonuses

Things seem to be going quite well at Qualcomm Inc. these days, in light of fat salary hikes accorded to its top executives.

San Diego People

Key Hires and Promotions; Awards and Recognition; Executive Spotlight: Anthony Nocera

Michael Shelby

San Diego's Mayoral Candidates...Up Close: Michael Shelby

Patrick Shea

San Diego's Mayoral Candidates ... Up Close: Patrick Shea

Correction

For July 11, 2005.

Changes to TV Programming Are Coming

Broadcasters might stop delivering programs over the current system of analog TV channels on Jan. 1, 2009. That date isn't final yet. Congress must still weigh in on the matter.

Retailers Eager to Have Businesses By Ballpark

Downtown San Diego's retail market is "hot and getting hotter," according to a report by Burnham Urban Retail Group.

Peregrine Untangles Financial Mess as It Rebuilds

Peregrine Systems Inc., a San Diego-based business software developer that saw a massive accounting fraud revealed three years ago, continues to lose money.

S.D. Chargers Executive Adapts to New Pace

San Diego Chargers executive adapts to a new pace.

Mazda6 Sport Wagon Lags a Little in Zoom Category

Mazda6 sport wagon lags a little in zoom category.

What's in a Name? Plenty, Drug Makers Say

Naming a first drug for a small biotechnology company evokes images of first-time parents exhausting all channels , from books, the Internet, family, friends, and even paid professionals, to name their precious child.

H & R; Block Has Big Plans for Local Acquisition

H & R; Block Inc., the largest tax preparation retailer in the nation, said it plans to convert an Oceanside online tax preparation business into the company's tax technology development center.

Investor Aims to Lure Startups to 'Latino Cluster'

Psychotherapist turned venture capitalist John Garcia hopes to make Orange County a hot spot for Hispanic businesses.

Jerry Sanders

San Diego's Mayoral Candidates ... Up Close: Jerry Sanders

Steve Francis

San Diego's Mayoral Candidates ... Up Close: Steve Francis

Creating Condos

Some say converting apartments into condos helps potential buyers, while others claim the trend hurts low-income earners.

For the Record

Business Events Calendar: July 19 - 25

Inovio, Vical Study Cancer Treatment in Humans

Two San Diego-based biotechnology companies announced July 18 they started the first human trials to evaluate the safety of targeted cancer therapy delivery in patients with metastatic melanoma.

Disabled Sailors Find Success in Premier Race

Engineering students and private industry help disabled sailors take on the Transpacific Yacht Race.

Wanted: A Crisis Solver

Many San Diego businesspeople agree that the city's financial crisis is what they are most concerned about as the election approaches.

Donna Frye

San Diego's Mayoral Candidates ... Up Close: Donna Frye

Progress Report

Sales and Leases

BRAC Commission Has Tough Job on Its Hands

BRAC Commission Has Tough Job on Its Hands

Firms Scramble for Architects Amid Housing Boom

The largest architecture firms based or operating in San Diego are being stretched thin from a lack of qualified architects entering the field.

SDG & E; Announces $20M Settlement With Enron

San Diego Gas & Electric Co. has settled its case against Enron Corp. for overcharges during the early days of the energy crisis in 2000.

401(k) Plan Changes May Affect Employers Too

Question: Can a participant in a 401(k) plan make contributions on an after-tax basis?

Qualcomm, Broadcom Fight Stands to Be Costly

The battle between Qualcomm Inc. and Irvine's Broadcom Corp. is shaping up to be a legal barnburner , and a potentially costly one at that.

Convention Center Team Exceeds Goal

Convention Center sales team exceeds goal for rounding up nightly hotel room rentals.

Friday, July 15

Grant Takes Magazine Publisher's Post

Modern Luxury Magazines has named Dina Grant publisher of Riviera San Diego magazine, effective Aug. 1.

Thursday, July 14

Titan Deal Inches Closer To Completion

San Diego-based Titan Corp. said a required antitrust waiting period on its announced acquisition by L-3 Communications has expired, paving the way for the transaction's approval by Titan shareholders at a special meeting July 28.

DJ Orthopedics Plans New Vista Building

DJ Orthopedics Inc., the Vista-based maker of medical rehabilitation products, said it is breaking ground on a new headquarters/manufacturing facility July 29.

Cunningham Won't Seek Re-Election

U.S. Rep. Randy "Duke" Cunningham under fire for alleged conflicts of interest involving a defense contractor announced on July 14 that he would not seek re-election.

It's Official: Blackstone Owns Legoland

Carlsbad's Legoland California and its three sister amusement parks were sold by Denmark-based Lego to the Merlin Entertainments Group, a subsidiary of the Blackstone Group, a New York-based private equity firm.

Padilla Named to Coastal Panel

Chula Vista Mayor Stephen C. Padilla has been named to the California Coastal Commission.

Wednesday, July 13

Shareholders OK Landmark-Legacy Deal

Landmark National Bank, based in Solana Beach, is set to officially take over La Jolla-based Legacy Bank July 15 after approval by shareholders of both banks earlier in the week.

Resignation Reflects Polarized Views in Pension Issue

Thomas King, a San Diego City Employees' Retirement System board member named in a city lawsuit, resigned July 12. King cited the litigation filed by City Attorney Michael Aguirre over pension benefits in his resignation letter.

SAIC Secures More Air Force Work

San Diego-based research and engineering company Science Applications International Corp. won a five-year, $500 million Air Force contract on July 13.

Land Surveys Arrive in Cyberspace

San Diego County's new Survey Records System puts land surveying maps and engineering plans on the Internet.

Progress Means Money for Inovio

San Diego-based publicly traded biotechnology company Inovio Biomedical Corp. announced July 13 that it expects a $2 million milestone payment from pharmaceutical giant Merck & Co., Inc. for progress in delivering DNA vaccines.

Sempra Calls Nevada Project a Job Generator

Sempra Energy says its proposed northern Nevada power plant would be a benefit for that region.

Tuesday, July 12

Downtown Retail Market Heats Up

The Downtown San Diego retail market is "hot and getting hotter," according to a new report by the Burnham Urban Retail Group.

Earnings Season Approaches

Several locally based public companies are scheduled to announce quarterly earnings during the next few weeks.

Monday, July 11

Cubic Amps Up Its Work for Defense

Homeland security concerns have stimulated Cubic Corp.'s business making high-frequency communication gear. The company has a $15.1 million contract for power amplifiers.

Downtown Businesses Are Gearing Up for a Very Busy Weekend

The Padres, concerts and comic book geeks will fill the city's seats, streets and hotels during the week to come.

Week in Review

Top Business News: July 1 - 7, 2005

Small Business Spotlight: Financial Focus

Barbara J. Williams, partner of Financial Focus.

San Diego People

Key Hires and Promotions; Awards and Recognition; Executive Spotlight: Doron Lurie

New Jetta Has Hard Time Standing Out in a Crowd

New Jetta Has Hard Time Standing Out in a Crowd

Outrage Over Property Rights Is 30 Years Too Late

Outrage Over Property Rights Is 30 Years Too Late

High Ad Count Expected Before State Election

Television stations and other media outlets are anticipating a multimillion-dollar windfall of ads, courtesy of the state's rough-and-tumble politics.

Keeping Customers Is as Crucial as Getting Them

Question: How can our business encourage customers to return?

Eminent Domain May Hit Home for One Justice

Eminent Domain May Hit Home for One Justice

HP Beefs Up Printer Technology

Hewlett-Packard Co. has introduced what it calls "market-changing technology" that allows inkjet printers to work faster, and cuts costs at the manufacturing plant.

Airtime a Key in Mayor's Race

With a crowded field and a shortened campaign, name recognition is crucial as candidates shift into high gear leading up to the special election for San Diego mayor.

New Light Rail Line Lightens Traffic Load

Business owners take a wait-and-see attitude about the impact of the Mission Valley East light rail transit extension, which finally gets moving this week.

Progress Report

Sales and Leases

Western Alliance's Stock Is a Slam-Dunk on New York's Big Board

The debut of Western Alliance Bancorporation on the New York Stock Exchange on June 30 was a time to remember for some of the company's officers. Shares gained about $3 the first day.

$100M in Research Funds Goes to Two S.D. Groups

Two San Diego-based research groups will receive roughly one-third of the $300 million in total government grant money to unravel the secrets of disease-causing proteins, said the National Institutes of Health.

Cox Closes in on Its 1,000th Padres Broadcast

Cox Communications Channel 4 San Diego is celebrating its 1,000th televised Padres game July 16.

Downtown's Redeveloper

Peter Hall, who is retiring this year as president of the Centre City Development Corp., says it was his good fortune to be on the job when the Petco Park project was conceived and launched.

Construction Journal

Contract Awards and Construction Milestones

Aerospace Trade Group Seeks Greater Efficiency

The Supplier Excellence Alliance is wrapping up a pilot program in the nation's largest aerospace region , Southern California , and plans to launch its so-called "lean manufacturing" programs nationwide.

Qualcomm Fires Back at Broadcom

Responding to a string of recent lawsuits, Qualcomm Inc. filed suit against Irvine-based Broadcom Corp. on July 11.

Acquisition of MCRD Could Ease Airport's Growing Pains

The chance that the Marine Corps Recruit Depot might make the Pentagon's list of expendable bases offers a ray of hope for expanding Lindbergh Field, says at least one land use authority.

Web Is Catching More Political Candidates' Ads

While TV advertising remains one of the most popular ways for political candidates to reach voters, the use of online advertising is slowly making an impact on the budgets of candidates' ad campaigns.

Executive Profile: Dave Dutch

Dave Dutch, president of Networkcar.

Developers Have an Eye on Broadway

Win-win. That's the word from those hoping the city and Navy both can benefit from the possible redevelopment of the 83-year-old Navy Broadway Complex.

Governor Signs Budget

Gov. Arnold Schwarzenegger on July 11 signed the $117.3 billion state budget.

Hotel Deal Delay Puts Buyer on Standby

A prospective buyer for the Hyatt Regency Islandia Hotel hasn't backed away from the deal despite San Diego officials' tabling of a request for a lease extension on the land.

Strong Employment Figures Bolster S.D. Apartment Market

San Diego's apartment market for the first quarter of 2005 was bullish, according to the recently released Hendricks & Partners Apartment Update 2005 for Southern California.

Median Priced Home Costs $608,300

Nine percent of San Diego households could afford to purchase the median-priced home in San Diego during May, according to the California Association of Realtors.

Chamber Won't Endorse in July 26 Election

The San Diego Regional Chamber of Commerce decided not to endorse a candidate for mayor in the July 26 special election. But the group may yet decide to pick a favorite if there is a runoff come November.

S.D. Fitness Company Is Hoping Gravity Takes Off in Clubs

San Diego fitness company hopes its Gravity machine takes off in clubs.

For the Record

Business Events Calendar: July 12 - 18

Friday, July 8

ResMed Buys Into Kearny Mesa

ResMed Inc., a Poway-based manufacturer of medical equipment, has purchased the last remaining 9.78-acre parcel of land at San Diego Spectrum in Kearny Mesa for $21 million for a new national headquarters.

Aguirre Seeks To Void Benefits

San Diego City Attorney Michael Aguirre on July 8 announced a civil lawsuit against the San Diego City Employees' Retirement System board, asking the court to void all pension benefits granted in 1996 and 2002. It is separate from a suit filed July 7.

Thursday, July 7

North County Freeway Plans Detailed

The San Diego North Economic Development Council is hosting two community briefings on projects currently being constructed on north Interstate 15 and Interstate 5, two of the most heavily congested freeways in the county.

Aguirre Files Suit

San Diego City Attorney Michael Aguirre announced Thursday that his office has filed a civil lawsuit against eight individuals "whose actions helped create the city's massive pension deficit of $1.7 billion," according to his prepared statement.

Schwarzenegger On Hand For SDG & E; Dedication

Gov. Arnold Schwarzenegger was on hand July 7 for a ceremonial "flipping of the switch," dedicating the San Diego Gas & Electric Co.'s new $50 million Miguel-Mission 2 transmission line in Mission Valley.

Wednesday, July 6

Schemmel Gets Nod as SDSU Athletic Director

San Diego State University named Jeff Schemmel as its new director of intercollegiate athletics July 6.

Qualcomm May Sue Broadcom

Qualcomm Inc. said it is considering litigation against Irvine-based Broadcom in response to the antitrust lawsuit Broadcom filed against Qualcomm on July 1.

Veritek Springs from Remec Unit's Sale

Remec Inc., a Del Mar-based defense contractor, said it completed the sale of its electronic contract manufacturing unit.

Tuesday, July 5

Antitrust Lawsuit Filed Against Qualcomm

Irvine-based semiconductor company Broadcom Corp. announced July 5 that it has filed another lawsuit against Qualcomm Inc.

Monday, July 4

Seacoast Commerce Bank Searching for New CEO

Seacoast Commerce Bank searches for a new president after the resignation of Larry Benthien, the bank's founder and president.

A Very Fast Track Leads To Tech Firm's Purchase

NetSift, Inc. is a San Diego company on the fast track , a track so fast, in fact, that NetSift will soon be absorbed into Silicon Valley tech giant Cisco Systems. This comes only a year after NetSift was founded.

Encinitas Councilor Seeks to Protect Property Owners

Encinitas City Councilman Jerome Stocks has launched what he thinks might be the first local challenge to the recent U.S. Supreme Court ruling on strengthening the rights of local governments to seize private property.

Executive Profile: Jeff Gosselin

Jeff Gosselin, president of Xnergy.

San Diego Magazine Now in the Hands of Los Angeles Publisher

Malibu-based CurtCo Publishing, which publishes more than 20 magazines for affluent markets across the country, finalized its acquisition of San Diego Magazine Publishing Co. June 25.

Companies Vying for Booming New Market

For apparel firms, media agencies and the action sports industry, capturing the attention of free-spending youths is an extremely competitive business.

Training Is Like Preparing For a Major Business Event

Brian Culley is surely San Diego's fastest vice president of business development, if not the world's.

Riding Tidal Wave of Optimism

Riding Tidal Wave of Optimism

Check Key Metrics to Gauge Performance

Question: What key company metrics should I be monitoring?

Santee's Scantibodies Not Guilty in Patent Suit

A federal jury ruled Santee-based Scantibodies is not guilty in a patent lawsuit filed by Nichols Institute Diagnostics.

Video Game Firm Finds Execs to Play

In the last two months, computer software-maker Activision has been taking on executives more accustomed to selling packaged goods, such as water, coffee and fantasy trading cards.

Rabble Rouses Cell Phone Users

Call it a bulletin board without the pins. Intercasting Corp. lets people post their thoughts on their neighbor's cell phone.

Hoteliers Shake Off June Gloom With a Sunny Set of Statistics

Hoteliers have shaken off the June gloom. During a 28-day stretch ending June 25, they enjoyed a 7.7 percent bump in occupancy compared to the same period last year.

Biz Group Prods Airport Panel to Beef Up Its PR

A business organization pushing to relocate San Diego International Airport from its cramped Lindbergh Field quarters is critical that the agency running the operation hasn't done an effective job of selling the public on the idea.

County's Auctions Also Boost Business

County's Auctions Also Boost Business

Week in Review

Top Business News: June 24 - 30, 2005

Tech Boom Echo Heard in Group's Revival

The VIC Network, formerly known as the Venice Interactive Community, has become a corporation bent on networking and marketing its name.

Small Business Spotlight: Apunix Computer Services

Sylvia Berens, co-founder of Apunix Computer Services, a developer of self-service kiosks.

Corrections

For June 27, 2005.

Callaway Wedged in Tight Spot

Big Bertha may be on the selling block, yet analysts who cover golf club maker Callaway Golf Co. generally say the purported $1.2 billion price is low.

Working Out Probably Saved Biotech Manager

Doctors told Sally Jewell that years of cardio-training in the three-disciplinary sport , swimming, biking and running , probably saved her life.

Leap Wireless Reappears on the Nasdaq Board

A little more than two years after Leap Wireless International filed for Chapter 11 bankruptcy protection, the restructured company's stock returned to the Nasdaq National Markets stock exchange.

Holes Plugged as Travel Bureaus Ponder Funding

One visitors bureau president says she thinks she can plug holes in her budget after San Diego City Hall reduces its subsidy. "Hopefully, with innovative appropriations, we'll be able to create a flat budget," said Cami Mattson.

For the Record

Business Events Calendar: July 5 - 11

San Diego People

Key Hires and Promotions; Awards and Recognition; Philanthropy; Executive Spotlight: Donna Marie Robinson

Biocom CEO Uses Exercise as Escape Route

Joseph Panetta, the president and chief executive officer of Biocom, San Diego's life sciences trade group, said exercising every day helps him clear his mind and escape from the daily grind.

Eminent Domain A New Tool for Business to Use?

A U.S. Supreme Court ruling that gives local governments even more authority to seize private property has stirred mixed reactions among a variety of camps.

Working Out Helps Biotech Consultant Fill Up His Tank

Mark Erwin says working out before sunrise is panacea for the upcoming stresses in his typical 10-hour workday.

Letter

Choosing the Bird

Progress Report

Sales and Leases

Global PR Firm Focuses on Local Technology

Porter Novelli's San Diego office has launched a tech practice spearheaded by Christine Cefalo, who in August was named one of PRWeek.com's "Ten Rising Stars of PR."

Metabasis Inks New Deal for Diabetes Drug

San Diego-based Metabasis Therapeutics Inc. and Merck have signed a research agreement that could bring Metabasis $54 million in cash if the drug makers succeed in bringing a single product to market.

Alien Hominid Aiding Startup As an Industry Behemoth

Like most startup companies, Behemoth, a Little Italy-based independent console game developer, is still striving to find its niche in the marketplace.

Construction Journal

Contract Awards and Construction Milestones

Off-the-Job Training

Four highly competitive biotech professionals say exercising is important to them because it helps them cope with their daily stresses at work, energizes them, and helps them feel good.

Spectrum Investor Criticizes Executive Pay, Vies for Board

Spectrum Pharmaceuticals Inc. of Irvine has a brewing shareholder fight on its hands. Its outspoken critic? Xmark Asset Management LLC of Stamford, Conn., which owns 10.7 percent of Spectrum.

Ryan Eyes Santee as the County's Hot New Market

Santee will be the next big executive enclave if Ryan Cos. US, Inc., a national commercial real estate firm, has calculated correctly. The firm has just opened a regional office in San Diego on Towne Centre Drive.

Friday, July 1

Bank IPO Exceeds Planned Price

Western Alliance Bancorp, a Las Vegas-based banking company that includes San Diego-based Torrey Pines Bank, raised about $83.6 million in an initial public offering on June 30.

Commission Calls on Pentagon to Defend Stay at MCRD

The chairman of the federal government's independent base closure commission has asked Pentagon brass for explanations of why Marine Corps Recruit Depot in San Diego, and the nearby Navy Broadway Complex, are not on its base closure list.

Otay Mesa Power Project Approved

The California Public Utilities Commission on June 30 approved the construction of San Diego Gas & Electric Co.'s Otay Mesa transmission project.

Companies Envision Canadian Oil Plant

Surge Global Energy Inc. of San Diego is joining forces with Genoil Inc. of Alberta, Canada, to build the first major commercial upgrader in North America.