Stories for December 2007

Friday, December 28

Document Sciences Rides High on Acquisition Offer

EMC Corp. of suburban Boston said early Dec. 27 that it had inked a deal to acquire Carlsbad-based software maker Document Sciences Corp. for $85 million in cash.

Podcast: The Business Journal Looks Ahead to 2008

Web Editor Brad Graves provides highlights from the Outlook 2008 issue of the San Diego Business Journal.

Thursday, December 27

Westcore Acquires Silicon Valley Property from Flextronics

San Diego-based Westcore Properties LLC said Dec. 27 that it has added a nine-building industrial park to its Northern California portfolio. The sale price of the Milpitas property was not disclosed.

Auto Show Takes the Floor at Convention Center

Through the year, the San Diego Convention Center hosts groups of pharmacists, defense contractors and comic connoisseurs. But the last week of the year brings something most of the public can relate to. It brings cars.

San Diego Among Top 10 New Year's Eve Destinations

San Diego ranks sixth among the most popular tourist destinations for New Year's Eve, according to a survey from Hotwire.com.

Monday, December 24

Defense Firms Look for Alternative Work as '08 Federal Budget Unsigned

Companies in the defense business know that most of the time they work at their own risk. They know, or at least hope, the money for a contract is coming, so they ramp up the research and development and staffs to prepare for the work. But sometimes there

Economists Predict Diversity Will Buffer Real Estate's Blows in '08

San Diego isn't likely to have a recession in 2008, according to three of the region's premier economic trends trackers. But it might feel like one just the same.

Expansion of Four Indian Casinos in Region on Feb. 5 Ballot

The 10 American Indian casinos located in San Diego County do roughly $2 billion of business a year. But phenomenal growth, as enjoyed in the past, will not be in the cards for 2008.

When the Real Estate Market Will Rebound Is Anybody's Guess

With total home sales volume significantly down in San Diego County in 2007, local economists and brokers differ in opinion on when the housing market will rebound.

Despite Real Estate Woes, S.D. County Still at 'Full' Employment

San Diego County's unemployment rate held steady at 4.8 percent for three straight months, through October, according to the most recent data available by last week's deadline.

Reeling Financial Institutions Stumble Forward Into 2008

Despite the fact that most San Diego lenders didn't make subprime loans, the roiling financial markets and the resultant credit crunch in 2007 was felt throughout the industry.

Rest Assured, Hotels, Attractions to Be on Solid Ground in 2008

If the country falls into a serious recession resulting from the real estate downturn, which was triggered by risky home loans to the less creditworthy, all bets on the tourism industry's well-being, locally and nationally, would be off. But for now, they

Biotechs Expect Boom Cycle to Continue Into New Year

Industry analysts predict another strong year for biotechnology, an industry they say will remain robust through private investment backings and opportunities for firms with promising product pipelines to attract the attention of Big Pharma.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: Details on LINK Wednesday, the new luncheon series from the Oceanside Chamber of Commerce.

Outlook 2008

Public-private partnerships will be key to tackling the region's biggest challenges in 2008, according to San Diego political leaders.

After the Fires, Farmers Continue Battling Mother Nature's Forces

If freezing temperatures, raging wildfires and Mexican fruit flies weren't enough to challenge county farmers in 2007, add upcoming drought-related water restrictions to the list.

HR Will Ring in the New Year With a New Set of Labor Laws

Ushering in the New Year also requires employers to take a measured look at their compliance with upcoming labor laws that take effect as early as Jan. 1.

Quotes of the Year

Quotes of the Year

Fiscal Follies

The new year could well prove to be the year of the tax increase.

Economic Uncertainty Surrounds Commercial Real Estate Market

Uncertainty will characterize the 2008 commercial real estate market, according to a recent report by the Urban Land Institute and Pricewaterhouse & #173;Coopers LLP.

Increasing Enrollment Boosts Fortunes of Higher Education Sector

Some local K-12 schools, colleges and universities will continue to battle fluctuating enrollment rates in 2008 among concerns about the housing market and funding, while many private institutions and public four-year universities will continue to grow.

Higher Labor, Food Costs Eat Into Profits; Restaurants' Prices to Rise

While the local lodging industry is expected to be able to increase its room rates and see greater RevPAR , increased revenue from rooms that they let , predictions are that restaurants will also increase their prices to cover overhead, but they won't rea

Friday, December 21

For Fifth Straight Month, Jobless Rate Doesn't Change

San Diego's unemployment rate for November held steady for the fifth consecutive month at 4.8 percent, with sizable gains in the retail sector offset by losses in construction.

SGIS Finishes Year With $158M Deal

San Diego-based SGIS said Dec. 20 that it received a Navy electronics contract worth a potential $158 million over nine years.

Thursday, December 20

Agency Draws Line in the Sand for Cleaner Beaches

A state board has set limits for the amount of bacteria that can run into streams, rivers and ultimately through the beaches of San Diego County and parts of Orange County.

Federal Government OKs Sycuan Deal

The federal government on Dec. 19 OK'd a deal between the state and the Sycuan Band of the Kumeyaay Nation, letting Sycuan expand the number of slot machines it operates on its San Diego County reservation. California residents will vote on the same issue

D.C. Investment Bank Expands Into Carlsbad

The McLean Group LLC, an investment bank with headquarters in suburban Washington, D.C., said Dec. 19 that it has opened a San Diego County branch in Carlsbad.

Bulls and Bears Go to the Dogs on Christmas Eve

Rancho Santa Fe-based Helen Woodward Animal Center President Mike Arms will ring the opening bell at the New York Stock Exchange on Dec. 24 to promote a program for adopting orphaned pets.

Wednesday, December 19

Volcano Tops Off CardioSpectra Acquisition

Volcano Corp., a San Diego maker of internal measuring equipment used to detect and treat heart disease, says it completed the acquisition of San Antonio-based CardioSpectra Inc. on Dec. 18.

Airline Hopes Folks Zoom From Lindbergh to London

Zoom Airlines Ltd. is slated to become the first transatlantic airline to offer service from Lindbergh Field to London since British Airways departed in October 2003.

Tuesday, December 18

Forward Ventures Gets Behind Altair Therapeutics

Forward Ventures said Dec. 18 that it joined in the financing of Altair Therapeutics Inc., a new venture capital-funded biotechnology company created to focus on treatments for asthma and other respiratory conditions.

Immusol Becomes ItherX, Has New Chief

Privately held biopharmaceutical company Immusol Inc. announced a series of changes at the company Dec. 17, including new leadership, a name change and a refocused effort to advance two of its core programs.

Podcast: Preview This Week's San Diego Business Journal

Web editor Brad Graves provides highlights from the Dec. 17, 2007 San Diego Business Journal.

Cushman & Wakefield Buying Burnham

National heavy hitter Cushman & Wakefield Inc. announced an agreement Dec. 18 to acquire San Diego-based Burnham Real Estate.

La Jolla Firm Sees Potential in Farmers Markets

PCG Capital Partners, a La Jolla private equity firm, said Dec. 18 it made a $30 million investment in Sunflower Farmers Markets, a Boulder, Colo., natural foods grocery chain founded by former Wild Oats founder Mike Gilliland.

Pfizer Buys CovX to Beef Up Product Pipeline

Pfizer Inc. said Dec. 18 that it will buy CovX, a privately held biotechnology company based in La Jolla, to enhance its product pipeline.

Union Bank Takes Floor With Two-Step Mortgage

Union Bank of California, which maintains its mortgage division in San Diego, has come out with a new mortgage product featuring a 40-year term with a fixed interest rate for 15 years, and a one-time adjustment for the remaining term.

Monday, December 17

Local Talent Pool Keeps Altium Swimming Along

Sometimes intellectual property piracy is a good thing. That seems to be the case for Altium Ltd., a Sydney, Australia-based maker of software used to design electronic products, which has its North American headquarters in Carlsbad.

Froman Gets Energetic Role With General Atomics

General Atomics said Dec. 17 that it has hired Ronne Froman as a senior executive.

Sales and Leases

A 38,272-square-foot land parcel with a 4,380-square-foot warehouse, located at 1402 Commercial St. in downtown San Diego, has been sold for $5.4 million. And other sales and leases.

Four Candidates Selected for Proposed New City Hall Redevelopment

The Centre City Development Corp. narrowed a list of eight prospective development teams down to four candidates for the proposed San Diego Civic Center Complex redevelopment project downtown.

SEC Reaches Settlement in Civil Case With Former City Auditor

The accounting firm and principal owner that prepared the audits for the city of San Diego in 2002 and 2003 settled civil fraud allegations by the federal Securities and Exchange Commission on Dec. 10, the agency said.

Presidential Primary Less Than Two Months Away

Presidential Primary Less Than Two Months Away

Family-Run All Star Glass Outshines Rivals With Superior Service

Glass is a common enough substance that people don't think much about , until they're without it. For three decades now, it's provided the Scharaga family with a very nice living , despite the occasional crack in the economy.

Somaxon CEO Resigns, Company Co-Founder to Take Interim Role

Somaxon Pharmaceuticals Inc., a psychiatric and neurological drug developer based in Del Mar, will operate under new leadership starting Jan. 1.

Entropic IPO Brings in Less Capital Than Initially Expected

It's a big drop from its original target of raising $100 million, but Entropic Communications will take the $48 million in capital raised in its initial public offering earlier this month to grow its business.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: The Oceanside Chamber of Commerce has invited Vista chamber members to a "bigger and better networking experience" Jan. 23.

20th Annual Boat Show to Get Dealers' 2008 Sales Off to Fast Start

Since its launch in 1988, the San Diego Boat Show has grown into the county's second largest consumer event next to the San Diego International Auto Show.

Santee City Council OKs 2,600-Acre Fanita Ranch Development

The city of Santee was missing one component in its push for economic sustainability , residential development. The City Council jumped this hurdle Dec. 5 with unanimous approval of Fanita Ranch.

Finding a Car on Horton Plaza's Onion Level Can Make Anyone Cry

Who among us has not been a victim of the Westfield Horton Plaza parking garage syndrome?

Accenture Buys Maxim, Looks to Get Into Defense Electronics

Midway through 2006, executives at business consulting giant Accenture reached the conclusion that they needed to get into the military electronics business in a new way.

R.D. Olson Construction Completes Marriott's Residence Inn in Oceanside

Progress Report: R.D. Olson Construction has completed the Residence Inn by Marriott in Oceanside.

Waytronx Makes Strategic Headquarters Move to Vista Facility

The move of Waytronx Inc. to Vista from Portland, Ore. underscores a trend of sorts.

Remec Divvies Up More Assets

Remec Inc., a Del Mar-based company that has been liquidating since 2005 after selling off most of its assets, approved a 75 cent per share distribution Dec. 14 to shareholders.

Entrepreneur Profile , Jim Mumford

Jim Mumford has been in the plant business since the 1970s. Now he is an advocate for the "green roof" industry.

After Years of Restoration, Time for Balboa to Get on With the Shows

Raise the curtain. Start the show. The Centre City Redevelopment Corp.'s $26.5 million rehabilitation and restoration of Balboa Theatre is nearing completion.

Correction

For Dec. 10, 2007.

Volcano-CardioSpectra Deal Could Be Worth Up to $63 Million

Volcano Corp., a maker of products designed to diagnose and treat heart disease, said Dec. 10 that it signed an agreement to acquire CardioSpectra, a privately held company based in San Antonio, for a potential $63 million.

Executive Profile , Nick Chini

Nick Chini, managing principal, Bainbridge Inc.

Airport's Online Service Designed to Ease Complaints About Noise

Consumers can go online to get answers to questions about air traffic at San Diego International Airport.

Attracting the In Crowd Not Always Inns' Goal

While the uber-chic Hard Rock San Diego Hotel celebrated its grand opening last week, operators of the W San Diego, the first of downtown's groovy hotels, busily made plans to redecorate in the interest of staying high on the list of happening places to s

San Diego People

Key Hires and Promotions. Executive Spotlight: Kevin Kujawa.

Food Bank Receives Nice Block of Support From Quarterback Club

The San Diego Food Bank has launched the Chairman's Quarterback Club to raise funds for operations and food purchase programs.

Qualcomm Buys SoftMax

Qualcomm Inc. said Dec. 17 that it acquired San Diego-based SoftMax Inc. for an undisclosed price.

Week in Review

Top Business News: Dec. 7 - 13, 2007

DNA Analysis Behind Illumina's Growth

Illumina Inc. has risen so fast because of genetics. Or, more precisely, the need for cheaper and faster tools to conduct genetic analysis.

Hard Rock Owners' & #8201;Suite Deal: Black Eyed Peas Performance

The Hard Rock Hotel San Diego threw an invitation-only grand opening bash featuring the Black Eyed Peas, a headlining hip-hop band, on Dec. 10 that included the owners of its condotel units.

Nonprofit Profile , Classics for Kids

A talk with Marion Scir & #233;, founder and executive director of Classics for Kids.

Prop. 92 Would Further Bind Hands of the Legislature

Prop. 92 Would Further Bind Hands of the Legislature

Friday, December 14

Solera Strikes Five-Year Deal

Solera Holdings Inc., a San Diego company that provides software to the auto insurance industry, said Dec. 14 that the Insurance Corporation of British Columbia has extended its relationship with its Audatex subsidiary.

PPH Breaks Ground on 'Hospital of the Future'

Palomar Pomerado Health broke ground on Palomar Medical Center West, touted as the "hospital of the future," on Dec. 14 in Escondido.

East Coast Firm Buys California Instruments

Pennsylvania-based Ametek Inc. said Dec. 14 that it acquired California Instruments Corp. from its private owner.

Thursday, December 13

Xenonix Lamps May Go Airborne

Xenonix Holdings Inc., a Carlsbad-based maker of high-intensity spotlights, is adapting its product for use on a robot aircraft, the company said Dec. 13.

Ligand Moves to Cut More Staff

Ligand Pharmaceuticals Inc., known for developing the painkiller Avinza, said it would reduce the company's work force by one-third by the end of first quarter 2008, according to filings with the Securities and Exchange Commission.

Neurocrine to Lay Off 130 Employees

Neurocrine Biosciences Inc. said Dec. 13 that it will lay off 130 of its San Diego employees to refocus efforts following disappointing news about one of its drugs.

High School Basketball Wraps Up Year

Organizers of the MaxPreps Holiday Classic basketball tournament, running Dec. 26-29, will provide $20,000 to teams that normally wouldn't be able to afford to come to San Diego to play in the 18th annual event.

Wednesday, December 12

Accenture-Maxim Deal Closes

Accenture, an international business consulting giant, said Dec. 12 that it has closed its acquisition of San Diego-based Maxim Systems Inc.

Iomega Buying ExcelStor for $317M in Stock

Iomega Corp. said Dec. 12 that it is buying the ExcelStor Group, a Chinese firm with more than $700 million in revenues last year, from a current Iomega shareholder with Chinese connections.

Texas Company Sues TaylorMade Golf

A Plano, Texas-based golf equipment company filed a lawsuit Dec. 7 against TaylorMade Golf Co. of Carlsbad, alleging that TaylorMade infringed on two patents involving customizable center-of-gravity golf club heads.

Tuesday, December 11

VOZ Sports Defeats Foes in Venture Group Contest

VOZ Sports, a San Diego company that makes a sports helmet with embedded telecommunications equipment, won the San Diego Venture Group's 2007 PitchFest business plan competition Dec. 5.

Podcast: Preview This Week's San Diego Business Journal

Web editor Brad Graves provides highlights from the Dec. 10, 2007 San Diego Business Journal.

SEC Reaches Settlement With Former City Auditor

The accounting firm and principal owner that prepared the audits for the city of San Diego in 2002 and 2003 settled civil fraud allegations by the federal Securities and Exchange Commission on Dec. 10, the agency said.

An Impulse Buy: Teledyne Acquiring Cable Maker

Teledyne Technologies Inc. of Thousand Oaks said Dec. 10 that it is buying assets of San Diego-based Impulse Enterprise.

Monday, December 10

Subprime Mortgage Crisis Is One Heck of a Mess

Subprime Mortgage Crisis Is One Heck of a Mess

Concierges' Jobs Just Got Easier With Hotel Recommends Web Site

In the highly competitive lodging industry, it's all about making it easy for guests to have fun, relax and enjoy their vacations. That's where concierges come in. But who helps the concierges?

Mintz Levin Responds to Growing Market for Subprime Legal Services

Law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo said last week it would form a subprime practice group in response to increasing demand from clients seeking legal guidance on the complexities associated with the collapse of the subprime lending mar

No. 1 , Charles H. Brandes

Charles H. Brandes

Tucker Sadler Celebrates 50 Years in Business

In October 1957, Tom Tucker, Hal Sadler and Ed Bennett designed their first building together from a small office over a garage in Ocean Beach. From the design of that small supermarket, Tucker Sadler Architects was born.

No. 6 , Audrey Geisel

Audrey Geisel

Executive Profile , Jack Abbott

Jack Abbott, CEO and chief client advocate of Interactivate Inc.

No. 2 , Ernest S. Rady

Ernest S. Rady

Free Spirits Find Unusual Ways to Spice Up Their Business Meetings

For businesses that want to add a little glamour and adventure to their typical corporate confab there are options to the standard meeting venues. Some examples: A tour of the countryside in a private rail car, a lofty ride in a 1920s-era biplane or a ret

Life Sciences Execs See Salaries Jump As Money Flows In

The competition for senior level executives in the life sciences industry is driving some hefty compensation packages. And executive paychecks are expected to rise even higher next year.

No. 23 , Darrell Issa

Darrell Issa

No. 7 , William S. Lerach

William S. Lerach

No. 13 , Walter J. Zable

Walter J. Zable

No. 12 , Sol Price

Sol Price

Discovery Bancorp CEO Resigns

San Marcos-based Discovery Bancorp said Dec. 10 that James Kelley resigned as president, CEO and director of both the holding company and its main subsidiary, Discovery Bank, effective immediately "to pursue other interests."

PriceSmart Posts Tidy Profit Despite $2.9 Million Quarterly Loss

PriceSmart Inc., the operator of club warehouse stores mainly in the Caribbean and Central America regions, came out with its fiscal year-end numbers, and over the full year showed a profit gain of about $1 million.

American Cancer Society Raises $1.2M at a 'Walk' Held in Balboa Park

The American Cancer Society raised $1.2 million at its 10th annual Making Strides Against Breast Cancer walk held Oct. 21 at Balboa Park.

Tri-City Medical Center Seeks Final OK for $778M Seismic Retrofit

Spending $778 million should provide Tri-City Medical Center with the seismic retrofit and building renovations that the aging hospital needs to maintain its role as the primary acute-care facility in North County.

No. 11 , Gerald Parsky

Gerald Parsky

No. 22 , Genevieve Craig

Genevieve Craig

Housing Executive Wins Group's Highest National Recognition

San Diego Housing Commission President and Chief Executive Officer Elizabeth "Betsy" Morris received the M. Justin Herman Memorial Award from the National Association of Housing & Redevelopment Officials.

No. 25 , William Stensrud

William Stensrud

Week in Review

Top Business News: Nov. 30 - Dec. 6, 2007

Chamber Steers Its Support Behind Proposed Toll Road

The San Diego Regional Chamber of Commerce voted Nov. 15 to support the completion of the state Route 241 toll road in southern Orange County and northern San Diego County.

More Time to Comment on Airport Plan

The public comment period on a draft environmental report on a series of improvements to Lindbergh Field has been extended to Feb. 4.

Corporations Spare Little Expense on Shindigs for Staff and Clients

How far should a company go to reward its high-performing employees, and fete its loyal , and lucrative , clients? When it comes to corporate conventions and year-end bashes, it all depends on the ultimate return on investment.

Community HousingWorks' & #8201; Work Yields $200,000 Grant

San Diego may have a long way to go before it has a sufficient stock of affordable housing, but a local group helping to create such housing was recognized for its efforts last week.

No. 21 , Michael L. Robertson

Michael L. Robertson

$25M Renovation Project Completed at Spring Valley Apartments

Progress Report: The Spring Villas Apartments, located at 8760 Jamacha Road in Spring Valley, have reopened after renovations.

No. 5 , David C. Copley

David C. Copley

No. 20 , Robert E. Price

Robert E. Price

Architectural Foundation Holds Orchids, Onions Awards Ceremony

The San Diego Architectural Foundation sang the praises of numerous well planned, designed and executed projects at its annual Orchids and Onions awards ceremony Nov. 30.

Sharp Performance Earns Health Care System National Award

Sharp HealthCare is one of five organizations that received the Malcolm Baldrige National Quality Award this year, the San Diego-based health care system said Nov. 20.

Survey Shows Super Rich Increasing Holiday Spending This Year

A custom jewel-encrusted saddle for a pony, a $30,000 couture dress for a 4-year-old girl, a $200,000 restored classic Camaro , these are among the holiday gift lists of the world's super rich.

No. 10 , Robert Sarver

Robert Sarver

No. 17 , Conrad Prebys

Conrad Prebys

San Diego People

Key Hires and Promotions. Executive Spotlight: Rick Winterich.

No. 8 , John J. Moores

John J. Moores

No. 4 , Theodore W. Waitt

Theodore W. Waitt

No. 15 , Donald Shiley

Donald Shiley

No. 19 , Richard Sulpizio

Richard Sulpizio

Hearing Addresses Future of Nuclear Power

Nuclear power in California is the subject of a state Senate hearing Dec. 10 in San Diego.

No. 18 , Paul E. Jacobs

Paul E. Jacobs

Wealthiest Ranking Reflects Region's Diverse Economy

This issue of the San Diego Business Journal includes a special report that features our fourth annual ranking of the region's 25 wealthiest residents.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: The Coronado Museum of History and Art has turned over its exhibit space to antique toys.

Sales and Leases

Five new industrial buildings on Ord Way in eastern Oceanside have been sold. And other sales and leases.

SAIC Net Income Hits $105M in Third Quarter

SAIC reported net income of $105 million, or 25 cents per diluted share, on revenue of $2.37 billion in the third quarter ending Oct. 31.

Volcano-CardioSpectra Deal Could Be Worth $63M

Volcano Corp., a maker of products designed to diagnose and treat heart disease, said Dec. 10 that it signed an agreement to acquire CardioSpectra, a privately held company based in San Antonio, for a potential $63 million.

AAA Four Diamond Rating Awarded to 10 San Diego Restaurants

When it comes to restaurants with Five Diamond Awards by AAA, San Diego County is like Bob Hope at the Oscars , the top honors went to somebody else.

Lenders Report Rising Tide of Delinquent Loans, Foreclosures

More lenders, including usually carefully managed credit unions, are reporting higher numbers of delinquent loans and foreclosures connected to subprime credit woes.

No. 16 , Martin Wygod

Martin Wygod

No. 14 , Andrew J. Viterbi

Andrew J. Viterbi

Tourism Marketing District to Allow Hotels to Increase Promotional Funds

The San Diego Convention & Visitors Bureau is preparing to do more with more, instead of more with less as it has for the past few years.

No. 9 , Katherine B. Loker

Katherine B. Loker

Entrepreneur Profile , Ken Wahlster

Ken Wahlster, president and CEO of BikeBandit.com, has seen his Internet motorcycle parts and accessories startup grow into a $17 million a year business since its inception in 1999.

Fickle Fortunes Nudge San Diegans' Rankings on Wealthiest List

Heir today, gone tomorrow. With fates and fortunes, you never know, from day to day, how it's all going to shake out. Consider this year's list of San Diego's Wealthiest residents.

New Rules for Media Consolidation Could Help Region

New Rules for Media Consolidation Could Help Region

No. 24 , Richard Heckmann

Richard Heckmann

No. 3 , Irwin M. Jacobs

Irwin M. Jacobs

Gateway Founder to Help Fund Expansion of La Jolla Jeans Retailer

Avalon Capital Group Inc. has invested in the next phase of growth of the Cardiff-by-the-Sea boutique L.A. Fairchild Denim Bar.

Wealth of Data Not Always Available on Rich Residents

Finding the upper limits of what truly counts as rich in San Diego is not a straightforward task.

Correction

For Dec. 3, 2007.

Friday, December 7

County Employee Pension Fund Keeps Growing

The funded ratio of the San Diego County employees' pension fund, or the current assets to what all its liabilities are, increased to 89.7 percent at the end of June, up from 83.6 percent on June 30, 2006.

Entropic Raises $41M in IPO

Shares in Entropic Communications Inc. climbed 23 percent to close at $7.40 on Dec. 7, their first day of trading.

Centurum Snags Spawar Deal

Centurum Inc., a Virginia-based company with 85 employees in San Diego, said Dec. 4 that it received a contract from the Space and Naval Warfare Systems Command that could be worth $84 million in a five-year span.

Thursday, December 6

Army Awards $14.5M Contract to SGIS

The Army has awarded San Diego-based SGIS a contract for work with training simulators, a deal that could last through 2013 and be worth $14.5 million.

Santee OKs 1,400-Home Development

Carlsbad-based homebuilder Barratt American Inc. received approval to develop Fanita Ranch, a 2,600-acre master development in northern Santee late Dec. 5.

Entropic Lowers IPO Price

Entropic Communications Inc., the San Diego semiconductor company, told securities regulators on Dec. 6 that it plans to change the size of its initial public offering.

Beachfront Hotel Plans Head to Coastal Commission

The Imperial Beach City Council approved plans for a beachfront hotel during its Dec. 5 meeting, passing the project on to the state Coastal Commission for review.

Tuesday, December 4

Quarterback Club Targets Hunger

Individuals and businesses have contributed $175,000 to the San Diego Food Bank in the past month, the organization reported Dec. 3.

Sempra Declares 31-Cent Dividend

Sempra Energy, a utility holding company and provider of other energy services, declared a quarterly dividend of 31 cents per share Dec. 4.

Sony Breaks Ground on 11-Story Building

Sony Electronics broke ground on its 11-story, $150 million headquarters building in Rancho Bernardo on Dec. 4.

Demand for Information Technology Staff Grows

Demand for information technology staff in San Diego has ticked up slightly from the previous quarter, according to a survey released Dec. 4 by Robert Half Technology.

Cricket Jumps at Deal With Our Stories Films

Cricket Communications Inc., a San Diego-based flat rate cell phone company, said it signed a multiyear marketing deal with Our Stories Films, a film studio unit owned by Black Entertainment Television founder Robert L. Johnson.

Monday, December 3

Week in Review

Top Business News: Nov. 23 - 29, 2007

Wachovia Foundation Contributes $5M to New Management School at UCSD

The Wachovia Foundation contributed $5 million to UC San Diego's Rady School of Management to support the construction of the second phase of the Rady School campus.

Clinics Offer Alternative to Mammogram Centers

Thermo Body Scan Clinics is just one of a handful of thermal imaging clinics that have recently opened in San Diego County.

Missed Meals Mean Checks for Hospital Employees

Checks ranging from a few dollars to about $25,000 were distributed to some 150 former employees of Rady Children's Hospital.

Executive Profile , Pam Gaffen

Pam Gaffen, president and chief operating officer of Gafcon Inc., a construction firm in San Diego, has been in business for 20 years.

Texas-ASU and Navy-Utah Games Coming to Qualcomm

Who's playing their bowl game in San Diego? The matchups for the Pacific Life Holiday Bowl and the San Diego County Credit Union Poinsettia Bowl were made public Dec. 2.

Two New Banks in Organization Despite Dour Economy, Rising Rates

Considering the slumping economy, rising interest rates and lack of experienced talent, this may not be the best time to launch a new bank. But at least two local organizations are doing just that,

Rady Children's Hospital to Build $260M Patient Care Addition

Rady Children's Hospital and Health Center is scheduled to break ground on a $260 million addition to its already sprawling campus in Kearny Mesa.

An American's View of the Australian Elections

An American's View of the Australian Elections

Furniture Stores Hold Their Own Despite Housing, Mortgage Crises

Not every industry tied to home sales is taking a hit as the market slows and the mortgage crisis grows, especially select home furnishing stores.

French-Based Firm Purchases PRA Destination Management

After 26 years in business, tourism industry leader Patti Roscoe has sold PRA Destination Management Inc., a company she founded and grew into a national franchise with 19 offices.

Entrepreneur Profile , Joanie Smith

Joanie Smith has taken her background in the new-homes industry and her love of furniture and combined them into a company that provides chic, low-cost furnishings to the San Diego area.

Regional Roundup

The San Diego Better Business Bureau said the San Diego County Credit Union will be the presenting sponsor of its 10th annual 2007 Torch Awards for Marketplace Ethics. And other news from around San Diego County.

Aethlon Device Shown to Reverse Immune Suppression in Cancer

Researchers have found that a blood filter made by Aethlon Medical Inc. was able to remove the immunosuppressive activity normally found in the fluid of cancer patients, the company said Nov. 19.

High-Rise Electra Residence Ready for Move-In This Month

After three-plus years of construction, residents are expected to begin moving into Electra, a 450-foot residential high-rise, this month.

Correction

For Nov. 19, 2007.

Sidney Kimmel Readies Breast Cancer Vaccine for Human Testing

After seven years of researching a way to stop breast cancer from recurring, scientists at the Sidney Kimmel Cancer Center say they will test a vaccine in humans for the first time next year.

Thanksgiving Feast at the Omni, Shared San Diego-Style

The way I look at it, if the Pilgrims had landed in San Diego instead of Plymouth Rock, they'd likely have come ashore somewhere in the vicinity of what is now the Gaslamp Quarter and that's close enough for me.

USD's New $34M SOLES Facility Ready for Occupancy

Progress Report: Construction has been completed on the 83,000-square-foot School of Leadership and Education Sciences (SOLES) building located at the west end of the University of San Diego in Linda Vista.

Axesstel Brings Back Former CEO in Hopes of Turning Company Around

Axesstel Inc. apparently gave well-regarded CEO Marv Tseu the ax, and brought back founder and former CEO Mike Kwon, though the company referred to the sudden change as a resignation.

Leases

Clary Business Machines has leased 6,001 square feet of industrial space from Sorrento Creek Corp. for $222,581. And other leases.

Tigers Who Clawed Their Way to the Top Share Investment Advice

Call it self-help for the ultra-wealthy. Each month a group of self-made multimillionaires gather at the Four Seasons Resort Aviara in Carlsbad, talking about one another's investments and other aspects of their lives.

San Diego People

Key Hires and Promotions. Executive Spotlight: Robert Ryan.

Union-Tribune Tapping Old Talent to Pursue New Format in 'Net Radio

Harry Martin, better known as "Happy Hare," is among the crew of veteran radio personalities recently hired by The San Diego Union-Tribune's newest Internet radio station.

The Region Faces Two Important Issues, Fires and Desalination Project

With 2008 just around the corner, there is a little time to chat about a couple of North County issues on the table. One is the wildfires in October and the other is the desalination project in Carlsbad.

Kratos Adds $15.5M Worth of Work

San Diego-based Kratos Defense & Security Solutions Inc. said Dec. 3 that it received another $15.5 million in new business from the Space and Naval Warfare Systems Command, or Spawar.

Oceanside Manufacturer Vernon Tool Sold

Cleveland-based Lincoln Electric Holdings Inc. said Nov. 30 that it has acquired Oceanside's Vernon Tool Co. Ltd., a privately held manufacturer of computer-controlled pipe cutting equipment.

Nonprofit Profile , UCSD Foundation

A talk with Elaine Galinson, chair, board of trustees, UCSD Foundation

October 'Bad Month' for Notice of Default Filings in County

Economists and researchers in San Diego are closely charting a rise in both notices of default and foreclosures, which reached a 25-year high this year, according to county records.

Coldwell Banker Office Owner Files for Chapter 7 Bankruptcy

During the slow real estate market, only the strong survive. A residential real estate broker recently closed its doors in the South Bay area.

State Panel OKs Reduction in Port Emissions

The state Air Resources Board approved a measure to require operators of some 4,000 commercial harbor craft in the state to reduce diesel and nitrogen oxide emissions by as much as 50 percent by 2015.

Union Workers Picket Cold Storage Business

About 10 union workers picketed the offices of Harborside Refrigerated Services at the Tenth Avenue Marine Terminal Nov. 27, one day after striking the cold storage business.

Letters

Readers Affirm, Condemn Jack's 'Secret Weapon' Commercial