Stories for February 2007

Wednesday, February 28

Earnings Stay Flat at First PacTrust Bancorp

Chula Vista-based First PacTrust Bancorp , holding company for Pacific Trust Bank , announced net income of $4.7 million, or diluted earnings per share of $1.12, for 2006.

Catholic Diocese Files Chapter 11

The Roman Catholic Diocese of San Diego filed a Chapter 11 bankruptcy petition in U.S. Bankruptcy Court in San Diego on Feb. 27 that stayed a civil trial that was to begin Feb. 28.

Tuesday, February 27

Bridge Over Troubled Water Rates

The San Diego City Council on Feb. 26 voted to adopt Mayor Jerry Sanders' recommendations for repairing and improving the city's aging water and wastewater systems.

Paradise Valley Hospital Sold

On Feb. 26, the attorney general of California approved the acquisition of Paradise Valley Hospital in National City by Prime Healthcare Services Inc.

Appeals Court Backs Stem Cell Institute

A San Francisco appeals court Feb. 26 ruled in favor of the state's stem cell institute, upholding a lower court's ruling.

Study Mulls Immigrants' Effect on Work Force

The Public Policy Institute of California released a study Feb. 27 on the effect of immigrants on the state's work force and wages.

Monday, February 26

Bacbone Says It Will Consolidate Late 2006 Financials Into Single Report

Bacbone Software, a local maker of data protection software, said it had arranged a deal with the Securities and Exchange Commission to consolidate one comprehensive 10K report for the fiscal year that ended March 31 in lieu of filing quarterly reports pl

Regional Roundup

San Diego Mayor Jerry Sanders was scheduled to address a special meeting of the California Transportation Commission in Sacramento last week to push for more than $500 million in transportation funding. And other news from around San Diego County.

Have Nightclub Concept, Will Travel

Nightclub owner James Brennan says that eight months ago he had no plans to go corporate, at least not in a big way.

Realty Income Has Record Year Managing National Portfolio

Escondido-based Realty Income Corp. announced record operating results for the fourth quarter and year end Feb. 14.

Norv Turner's Been a Winner, He Knows What It Takes to Win a Game

Enough wailing and gnashing of teeth, all you bandwagon-hopping Chargers fans. Yes, Norv Turner is the new head coach.

New Jersey Transplant Hopes to Restore Sheen at Troubled Silvergate Bank

Silvergate Bank brought in New Jersey-transplant and turnaround expert Tony Ferraro as acting chief executive officer after receiving a cease-and-desist letter from regulators in December.

Lack of Land, Traffic Congestion Forcing More Mixed-Use, Infill Projects

The age of large-scale, mixed-use, master-planned communities in suburban areas of the county may be over.

Correction

For Feb. 12, 2007.

Grossmont College's New Digital Arts Building Is Packed With Technology

Grossmont College will be accelerating its digital arts instruction now that a $17.6 million digital arts and sculpture complex has opened at the El Cajon campus.

If Irvine Co. Hikes Rents on New Holdings, Will Other Owners Follow?

Many experts are asking if the Irvine Co. will raise rents since adding 17 commercial properties in the region to its portfolio.

FasTracKids' New Carmel Valley Center Is County's Fourth in Two Years

It would appear that the FasTracKids Enrichment Center, a franchise targeting the education of younger elementary school students, is itself on the fast track. The county's fourth FasTracKids franchise in less than two years opened this month in Carmel Va

Customers Starved for Ribs Overwhelm Phil's BBQ New Point Loma Outlet

When Phil Pace opened his second namesake eatery, Phil's BBQ, in Point Loma a couple of weeks ago, he apparently underestimated the appeal of his mesquite grilled ribs, chicken and tangy sauce.

San Diego People

Key Hires and Promotions; Executive Spotlight: Javier Pinasco

Metropolitan Credit Union Has a Place at City Hall

San Diego Metropolitan Credit Union is now an official marketing partner to the city of San Diego, the city announced Feb. 26.

Changes to Laws Can Make Significant Impact on Firms

Here's a short primer for business folks who want to brush up on state employment and labor laws that kick in this year, or just want to be prepared when they do.

Execs Optimistic About Growth

Executives at U.S.-based multinational companies expect their companies to grow at a 7.8 percent rate in 2007, a bit higher than the 7.5 percent annual growth expectations taken in the third quarter, according to a survey done by PricewaterhouseCoopers' M

State Petitions for More Protections Against Pests Arriving With Imports

The severity of the recent discovery of pests in avocado shipments headed into California may have been exaggerated. Still, local avocado growers aren't taking the news lightly.

SEALs, Related Units Appear to Be Moving to New Headquarters

A line in the draft federal budget for 2008 heralds the end of the Coronado headquarters for the Naval Special Warfare Command and a few hundred jobs there.

Week in Review

Top Business News: Feb. 16 - 22, 2007

Small Business Spotlight , Sinful Creations

Eclectic, modern, retro and funky , all words that can be used to describe budding El Cajon chocolatier Sinful Creations.

Secondary School Under Way in Carlsbad Set to Open This Fall

A ground-breaking and fund-raising event will be held Feb. 27 for Pacific Ridge School, a nonprofit independent middle and high school being built at a 7.3-acre site in Carlsbad.

Wells Fargo & Co. Donates $2.4 Million to Nonprofits in S.D. County

Wells Fargo & Co. Donates $2.4 Million to Nonprofits in S.D. County

WebSideStory Inc. Posts Loss for Quarter and Year

WebSideStory Inc., a San Diego provider of Internet analytics services, reported a net loss of $1.4 million on revenue of $18.2 million for the fourth quarter ended Dec. 31.

Qualcomm's Media Network to Flow Through Cingular Cell Phones

AT & T; Corp. announced recently that it will use Qualcomm Inc.'s MediaFlo network to offer video over cell phones. AT & T; subsidiary Cingular Wireless will host the service on its phones.

Stem Cell Research Enhancement Act Passage Could Boost Research Along 'Biotech Beach'

Stem Cell Research Enhancement Act Passage Could Boost Research Along 'Biotech Beach'

County Led the State in Building New Hotel Rooms During '06

If hotel building was a sport, San Diego County would be in a league of its own. Not only did the county finish 2006 with the highest tally of hotel rooms under construction statewide, it surpassed its own 2005 record by a whopping 113 percent.

Executive Profile , Kevin Carmony

Kevin Carmony has landed in the same position in which he started his entrepreneurial career , president and chief executive officer of a software company. But a lot has happened in between the time he founded Streamlined Information Systems in 1983 and w

Feds Call Into Question $1.5M in Workforce Partnership Spending

The San Diego Workforce Partnership, a regional job training agency that gets practically all its funding from the federal government, is on the hook for $1.5 million in spending that was questioned in an extensive federal audit.

Proposed Initiative to Extend Term Limits Doesn't Pass Test

Proposed Initiative to Extend Term Limits Doesn't Pass Test

Lessons in Labor Laws Keep Employers Out of Legal Hot Water

Every year, new laws come down the pike that can end up biting businesspeople on their bottom lines if they're not careful.

Student Pilots From India Set a Course for Montgomery Field

An explosive demand for more aircraft and pilots to fly them in India led to a big coup for San Diego Flight Training International at Montgomery Field.

Supervisors Voice Concerns Over Pauma's Proposal for Casino-Resort

San Diego County officials have laid several concerns about a proposed casino project before the Pauma Band of Mission Indians.

Ex-Navy Chief Gets Executive Education in Urban Schools Leadership

A 10-month executive management program trains top executives from military, business, nonprofit, government and education backgrounds to lead urban public school districts.

Plans for New Power Plant in Carlsbad, Miramar Released

The shoreline in Carlsbad, the current site of a 400-foot-tall smoke stack, could change dramatically, if a new project is approved by the California Coastal Commission and state Energy Commission.

SDSU Doctoral Programs Rank High in New University Research Index

Three of San Diego State University's doctoral programs have been identified as among the top five in the country by a new ranking published in The Chronicle of Higher Education in January.

Aquafarming Could Slow the Flood of Imported Seafood

One fish, two fish, red fish, blue fish farm fish?

Friday, February 23

First Pacific Sets Sights on Landmark National Bank

San Diego-based First Pacific Bancorp , the parent company of First Pacific Bank of California , and Landmark National Bank announced Feb. 23 the merger of Landmark into First Pacific Bank of California in a transaction valued at roughly $24.6 million.

Qualcomm and Broadcom Drop Some, But Not All, of Dispute

San Diego's Qualcomm Inc. and Irvine-based Broadcom Corp. have agreed to dismiss part of a legal battle regarding patents that have pitted the two chip-making giants against each other for almost two years.

Sempra Has $11.7B Year

San Diego-based Sempra Energy offered a snapshot of 2006 on Feb. 22, reporting yearly net income of $1.4 billion on operating revenues of $11.76 billion. In 2005, Sempra reported net income of $920 million on operating revenues of $11.51 billion.

Think Tank Cries Foul Over City's Water Rate Proposal

The Center on Policy Initiatives, a nonprofit San Diego think tank, released an analysis of water rates Feb. 23 finding that San Diego residents will pay more for water than local businesses under a proposed rate hike.

Thursday, February 22

Cost of Living Creeps Upward

San Diego's cost of living index increased 3.4 percent last year, which was greater than the national Consumer Price Index rate of 3.2 percent for cities, according to a U.S. Department of Labor report.

Jack in the Box Reports Record Quarter

Jack in the Box Inc., a San Diego-based quick service restaurant chain, reported record net earnings of $37 million, or $1.03 per diluted share, on revenue of $857 million during the first quarter of its 2007 fiscal year.

Traffic News Service Rolled Out

Stressed-out San Diego commuters got a little relief with the Feb. 21 launch of a real-time information service giving up-to-the-minute freeway drive times, transit and ride-share information and roadside assistance.

Wednesday, February 21

Horn Lays Out North County Agenda

Bill Horn, chairman of the San Diego County Board of Supervisors, on Feb. 20 pledged to help local farmers recover after the recent freeze that damaged some of the region's crops. This was among the topics discussed by the 5th District supervisor at his a

CB Richard Ellis Names Managing Director

CB Richard Ellis announced the appointment of Rick Sparks to managing director in San Diego on Feb. 20.

Entrepreneurs Pull Wraps Off Mojopages Internet Site

The Web site, mojopages.com, serves as part business telephone directory, part business rating service and part community bulletin board, or blog. The company officially launched its beta version Feb. 21.

SDSU at Work on Life Science MBA

San Diego State University and Princeton, N.J.-based Gallup University announced on Feb. 21 a partnership to develop a new MBA for executives in life sciences expected to begin in the last quarter of 2007.

Tuesday, February 20

ViaSat Brings ICT Aboard

Carlsbad-based ViaSat announced Feb. 20 that it has acquired Intelligent Compression Technologies of Quincy, Mass., for $20 million in cash and stock.

Monday, February 19

Unclogging Border Crossing Could Mean Adding Another Lane

An express border-crossing program is gaining lots of new customers as waiting times at the nation's southern borders increase.

It's No Joke, Local Lawyers Going to Go on Stage for the Laughs

Have you heard the one about What's the difference between a lawyer and a loose-lipped comedian? Nothing for nine area lawyers attempting to win the illustrious title of funniest San Diego lawyer.

Palo Alto Equity Firm Acquires Four Seasons Aviara in Carlsbad

It isn't every day that a major hotel and its management company announce new owners at the same time.

Sempra Increases Dividend

Sempra Energy announced Feb. 15 that it will raise the dividend on its common stock from $1.20 to $1.24 per year.

Consortium of Area Research Institutes to Support Ethics in Science

Four nationally known local research institutes have formed the San Diego Research Ethics Consortium, which will support ethical conduct of science in stem cell and other research.

New Pool Project to Put Coronado High School in the Swim of Things

Construction commenced Feb. 16 on the Aquatic Center at Coronado High School that will provide students with a 50-meter lap pool and 25-meter warm-up pool for physical education classes.

PBS' 'Everyday Edisons' Schedules Feb. 24 Casting Call at San Diego State

"Everyday Edisons," a new PBS reality series which tracks amateur inventors as they perfect their first saleable product, rolls into town for a one-day West Coast casting call.

XLE Is Short for Excellent in Camry

XLE Is Short for Excellent in Camry

Sale of Assets Could Close the Books on Lengthy AMS Scandal

Scandal-plagued Advanced Marketing Services Inc., the San Diego-based book distributor now in Chapter 11 bankruptcy, arranged to sell most of the business to rival distributor Baker & Taylor Inc.

Revenues From Stem Cell Therapies to Double in 2007, Predicts Expert

Industry leaders say most commercial uses of stem cells today is in the orthopedics sector, but that's changing. Local stem cell firms gave updates at the second annual Stem Cell Summit held in San Diego last week.

Regional Roundup

The first two phases of Seagate Corporate Center, a $44 million, 200,000-square-foot, mixed-use complex in Oceanside, are finished. And other news from around San Diego County.

Embattled Kintera CEO Gives Up His Two Other Top Roles

After hearing from a growing contingent of disgruntled shareholder groups calling for his resignation, Harry Gruber, CEO at Kintera Inc., gave up his roles as chairman of the board and president on Feb. 9.

Explosion in Spa's Beauty in the Eyes of Cosmetology School Owner

Beauty and brains is taking on new meaning as one local educator pioneers a new era in local beauty school curriculum.

Use the 'Dashboard' to Steer Business Towards Higher Sales and Profits

Question: How do I get employees to care about the bottom line?

Future Is Uncertain for Modest Hotel Surviving Era of Segregation

A historical designation ensures that the Clermont Hotel can't be torn down without a hearing. Yet its future use is uncertain.

Bush Proposes 40% Increase in Lending Capacity for the SBA in '08

President Bush has proposed a 12 percent budget increase for the U.S. Small Business Administration. He also wants to give the agency a 40 percent increase in financing capacity in 2008 compared to 2007.

Renaissance Woman Fulfills Ideals in 21st Century Design World

For Sheryll Jackman, the self-made powerhouse of Coronado, writer Ayn Rand helped light the way.

Push to Appoint Independent Commission to Redraw Legislative Districts Deserves Support

Push to Appoint Independent Commission to Redraw Legislative Districts Deserves Support

Sanders to Press for Transportation Funding

San Diego Mayor Jerry Sanders is traveling to Sacramento on Feb. 20 to push for more than $500 million in additional funding for what he considers to be critical local transportation projects.

Advanced BioHealing Goes to Market

La Jolla-based Advanced BioHealing Inc. has begun selling and shipping its Food and Drug Administration-approved Dermagraft product, the company announced Feb. 15.

Veoh's Service Start of Something Big in Internet Video Sharing

Dozens of video-sharing Web sites are striking new ground.

Sarah Lurie's Pioneering Work Is as Hearty as a Russian Workout

Putting a kettle on might conjure up some warm and cozy images of bone china teacups and freshly baked scones. But there is another variety gaining popularity nationwide and a local entrepreneur is among those leading the way.

Small Business Spotlight , Filefax

A scholar, an athlete and an accomplished small-business owner, Curtis Dadian has taken control of an aging company and reports a 40 percent increase in revenues in just three years.

Executive Profile , Andrew Aussie

Published reports estimate $25 billion worth of natural food products are sold annually. Eager to contribute to that total is Andrew Aussie, president and chief farmer of Honest Foods.

Publication Honors Latham & Watkins Partner Katherine Lauer

Publication Honors Latham & Watkins Partner Katherine Lauer

Week in Review

Top Business News: Feb. 9 - 15, 2007

Small Biz How To

Question: How do I get employees to care about the bottom line?

Uprooting State's Crop Bullies Would Benefit S.D. County

Uprooting State's Crop Bullies Would Benefit S.D. County

Market Street: Historical Markers Offer Glimpses Into the Past

Notes from an accidental pedestrian.

Lighting Franchise Adds Luster to LaGina Glass' Shining Career

LaGina Glass resigned her position as a human resources manager Feb. 10, 2006, and got down to business researching franchise opportunities. Four months later, she opened Outdoor Lighting Perspectives at Emerald Plaza on West Broadway.

San Diego People

Key Hires and Promotions; Executive Spotlight: Jamie Awford

Friday, February 16

New K2 Chief Came Up Through Ranks

K2 Inc., a Carlsbad-based maker of sporting goods including Rawlings baseball equipment, named J. Wayne Merck its president and chief executive. It also named Merck to its board of directors as part of a planned leadership transition.

Thursday, February 15

Appeals Court Hears Case of State Stem Cell Institute

An Appellate Court heard oral arguments this week in San Francisco regarding the legality of California's stem cell institute. The court must render a decision by mid-May.

Aurora Capital Among Partners Buying Mitchell

Mitchell International Inc., a San Diego provider of software and data to the auto insurance claims and collision repair industries, said it signed a definitive agreement to sell the company to an investment partnership led by Aurora Capital Group and Gen

Qualcomm Hires Outgoing U.S. Attorney

Qualcomm Inc. has appointed outgoing U.S. Attorney Carol C. Lam as senior vice president and legal counsel. Lam will manage and direct the technology company's litigation worldwide.

Not-Guilty Pleas Follow Indictments

Poway defense contractor Brent Wilkes and a longtime friend, Kyle "Dusty" Foggo, the former No. 3 person in the Central Intelligence Agency, entered not guilty pleas before federal Judge Larry Burns on Feb. 14. A federal grand jury in San Diego indicted t

Chula Vista Resident to Oversee Governor's Judicial Appointments

Sharon Majors-Lewis has been named judicial appointments secretary by Gov. Arnold Schwarzenegger.

Irvine Company's Local Portfolio Grows Again

The Irvine Co. is buying a large portfolio of 17 commercial office properties in San Diego for an undisclosed sum. The Blackstone Group acquired the buildings from Chicago-based Equity Office Properties earlier this month in the largest public to private

Wednesday, February 14

Quarterly Income Grows, Yearly Income Slips at Security Business Bank

Security Business Bank reported fourth quarter net income of $477,000 and return on average assets of 1.3 percent for the period ended Dec. 31, up from net income of $317,000 and return on average assets of 1.1 percent for the same period in 2005.

Bye-Bye, BioReliance: Invitrogen Sells Unit, Reports Loss

Invitrogen Corp., which offers a variety of products and services in the life sciences, is selling its BioReliance business unit, the company announced Feb. 13. At the same time, the Carlsbad company disclosed a $191 million net loss for the year.

SDG & E; and Regulators Sign Pact

Small businesses that buy their electricity from San Diego Gas & Electric Co. are expected to benefit from a settlement announced Feb. 13 by the California Public Utilities Commission's Division of Ratepayer Advocates.

Tri-City Wellness Complex Gets OK

The Tri-City Healthcare District's board of directors voted Feb. 13 in favor of building a new wellness complex, which will combine a fitness club with a medical office.

Schwarzenegger Makes Airport Board Appointment

Charlene Zettel of Poway has been appointed to the San Diego Regional Airport Authority Governing Board by Gov. Arnold Schwarzenegger.

Governor Wants Chalker to Reprise Role on Commission

John Chalker of San Diego has been appointed to the California Transportation Commission by Gov. Arnold Schwarzenegger. Chalker has served on the commission since 2005.

Accredited's 2006 Income Can't Beat Prior Year

Accredited Home Lenders Holding Co., a San Diego mortgage lender specializing in sub-prime loans, reported net income for 2006 of $57.7 million, a drop of 63 percent from 2005.

Tuesday, February 13

Favrille Makes Stock Offering

Biotechnology firm Favrille Inc. announced Feb. 13 that it received commitments from institutional investors to purchase 3.3 million shares of common stock at a price of $3 per share, raising $10 million for the company.

Defense Contractor, Former CIA Official Indicted

The Randy "Duke" Cunningham bribery scandal turned another chapter Feb. 13 when a federal grand jury in San Diego indicted Poway defense contractor Brent Wilkes and longtime friend, Kyle "Dusty" Foggo, the former No. 3 person in the Central Intelligence A

Tri-City Proposal Marries Medical Offices and Fitness Club

The Tri-City Healthcare District board of directors plans to discuss the creation of what would be the first medically based wellness complex in North County at its Feb. 13 meeting.

Monday, February 12

Political Consultant Sells Software to Cut Campaign Red Tape

For any political campaign, tracking contributions and donors should be a priority, but for a long time, this essential activity was done using the same methodology as Bartleby the scrivener, copying figures with a pen.

Carlsbad Redevelopment Report Reminiscent of Past Analysis; Time for Change Is Now

Carlsbad Redevelopment Report Reminiscent of Past Analysis; Time for Change Is Now

College Students Who Meet in Bank Vault Become Successful Bankers

Dan Yates, president of Regents Bank in La Jolla, and Michael Perry, president of San Diego Trust Bank, share a bit of history in the industry. Both started on the bottom rungs of the ladder and went on to fame in local banking circles.

Small Biz How To

Question: As a small business, do I have to worry about the new sexual harassment training laws? What should I do to make sure my company is compliant?

Carlsbad Source for San Diego's Four New Police Helicopters

Carlsbad-based Jet Source Inc. is building four new high-tech helicopters for the San Diego Police Department for $10 million.

The Market for Technology Workers Swings From Bust to Boom

A tightening job market for technology workers in San Diego is starting to resemble the dot-com boom of the late 1990s, when fat bonuses, escalating salaries and benefits were commonplace for skilled, experienced employees.

Philanthropists Conduct Business-Friendly Environmental Campaigns

Save the planet, save your business. That's the word from the San Diego Social Venture Partners, a coalition of about 130 "venture philanthropists," who invest their own money and expertise to improve the quality of life in the region.

Regional Roundup

The Navy is deliberating whether to station the aircraft carrier USS Carl Vinson at Naval Air Station North Island in Coronado, a move that would make San Diego County home port to three carriers. And other news from around the county.

Software Spinoffs Could Be the Next New Economic Force

It's nowhere near the size of San Diego's telecommunications and biotechnology industrial clusters, but a growing subset of the region's software cluster called analytics or predictive software is gaining in size and stature.

Nonprofit Profile , National Conflict Resolution Center

National Conflict Resolution Center

Investor Activist Relational Wages Proxy War With Home Depot

Relational Investors, the local asset management firm that has a track record of investor activism, won another big proxy battle last week, this time with Home Depot Inc. It even got a seat on the company's board.

Rate of Condominium Conversions, Sales Continue Downward Spiral

The one-two punch of slower sales and rising rates and payments on adjustable rate mortgages continues to drive foreclosures higher for homes in San Diego County.

Come Fly With Us to Smaller Cities in West, Midwest, Says ExpressJet

Despite earlier projections that businesspeople would be shelling out more money to travel this year due to higher rates for hotel accommodations, rental cars and airfare, they may be in for a break. A broad $10 increase on round-trip tickets that went in

Week in Review

Top Business News: Feb. 2 - 8, 2007

City's Stuck Between Rock, Hard Place as KPMG Again Delays Final 2003 Audit

City's Stuck Between Rock, Hard Place as KPMG Again Delays Final 2003 Audit

County to Expand Deposit Program to Help Boost Business Activity

San Diego County Supervisor Ron Roberts and Treasurer-Tax Collector Dan McAllister said they are expanding a 2005 initiative that calls for increasing the amount of funds deposited into local banks as opposed to Wall Street.

Five Steps to Updating Sexual Harassment Prevention Training

Question: As a small business, do I have to worry about the new sexual harassment training laws? What should I do to make sure my company is compliant?

Ownership Changes at Four Seasons Aviara

A Palo Alto-based private equity real estate firm has acquired a majority share in the ownership of the posh Four Seasons Resort Aviara in Carlsbad for an undisclosed amount. It is the first major hotel transaction within the county this year.

Main Reason the Menu Changes Is to Keep Eateries Interesting

Limited time offerings, or LTOs, as they're referred to in the restaurant industry, are a good way to test new products. But that's only part of the equation.

Sailing Not Smooth for New Monthly Business Magazine Pacifica

Will it or won't it print again? That is the question facing North County's new monthly Pacifica Magazine.

High-Rise Building Codes for Elevators Sufficient for Now, Say Officials

San Francisco Fire Department officials are seeking changes to building rules that would require high-rise elevators to be better resistant to damage caused by fires. Proposals in San Francisco could pave the way for code changes in other cities, includin

Donald, Darlene Shiley Give $1 Million Gift to Alzheimer's Assoc.

Donald, Darlene Shiley Give $1 Million Gift to Alzheimer's Assoc.

National City Seeks Support for Chargers Stadium

Seeking allies in the city's quest for a new football stadium for the San Diego Chargers, Mayor Ron Morrison of National City wrote letters to several top elected and appointed officials soliciting their support.

Two Former Mail Boxes Etc. Execs Purchase Postal Connections

Retail postal services franchise Postal Connections has a new parent , two, to be exact.

San Diego People

Key Hires and Promotions; Executive Spotlight: Bobbi Herdes

Cytori's Potential Heart Therapy Could Stem From Fat Tissue Cells

Cytori Therapeutics Inc. has begun testing the use of stem cells from fat tissue for human heart patients.

Calendar

Business Events , Feb. 13 - 15

Diversa Acquisition Would Change CEO, Headquarters

San Diego's Diversa Corp. said Feb. 12 that it will acquire Cambridge, Mass.-based Celunol, a venture-backed firm that discovers new ways to produce ethanol from waste and other materials.

Aussie Software Firm Altium Signs Lease for Space in Carlsbad

Software firm Altium Inc. has signed a 60-month lease valued at $2.8 million for 17,000 square feet of office space on Greyhawk Court in Carlsbad.

Buyer Seeks Majority of Advanced Marketing Services

Advanced Marketing Services Inc., a San Diego book distributor now in Chapter 11 bankruptcy reorganization, announced it entered into a letter of intent Feb. 12 to sell the majority of the company to Baker & Taylor of Charlotte, N.C.

Small Business Spotlight , Fur-Crazy Pet Care

Born from misfortune, Fur-Crazy Pet Care exists because Meagan Karnes wanted the very best for Koby, a pit bull.

Executive Profile , Carin Canale

Carin Canale says there's nothing unorthodox about the path her PR career has followed.

30,000 to Attend Surgeons Confab

The Illinois-based American Academy of Orthopaedic Surgeons is set to hold its annual meeting from Feb. 14-18 at the San Diego Convention Center.

Phil's BBQ Cookin' Up Second, Larger Location in Point Loma

Phil Pace, co-owner of the 2,700-square-foot namesake restaurant with seating for 70 that has been operating in Mission Hills since 1998, will soon open a second, larger Phil's in Point Loma.

Illumina Lights Way to Financial Success for Other Area Biotech Firms

Earnings aren't as big an indicator of the future success of life sciences companies as they are in sectors such as technology.

Friday, February 9

Two-Day Conference Looks at Stem Cells

The second annual local Stem Cell Summit is scheduled for Monday and Tuesday, Feb. 12 and 13, in San Diego, with an expected 300-plus participants.

K2 Raises Forecast

Sporting goods manufacturer K2 Inc. has raised its forecast for fiscal 2006, which ended Dec. 31.The Carlsbad-based company said Feb. 9 that it looked forward to adjusted diluted earnings in the range of 87 cents to 88 cents per share. Previously, the com

Atlanta Company Buys ACC Consumer Finance

ACC Consumer Finance LLC, a San Diego-based sub-prime auto lender, has been sold to CompuCredit Corp., an Atlanta finance company.

Callaway Golf Sharpens Focus on Yearly Figures

Callaway Golf Co., the Carlsbad manufacturer of golf clubs, balls and other gear, reported a net loss of $10.2 million, or 15 cents per share, on net sales of $180 million during its fourth quarter.

Thursday, February 8

Inventure Global Links Client Success With Outsourcing

Inventure Global, a San Diego-based technology consulting firm with offices in India, launched an Entrepreneurial Capitalists program aimed at improving the success ratios of venture capitalists and new businesses.

Revenue and Net Loss Grow at Senomyx in '06

For the fourth quarter ended Dec. 31, food flavoring company Senomyx Inc. reported a 50 percent increase in revenue to $3.4 million, compared with $2.3 million in the same period of 2005.

National City Seeks Stadium Support

Seeking allies in the city's quest for a new football stadium for the San Diego Chargers, Mayor Ron Morrison of National City wrote letters to several top elected and appointed officials soliciting their support.

DivX Yearly Revenue Climbs 80 Percent

DivX Inc., a company that produces and licenses video compression-decompression software, reported fourth-quarter revenue of $16.7 million for the period ended Dec. 31, up 57 percent from $10.6 million for the same period in 2005.

Venture Capitalist Takes Reins at Streamload

Streamload Inc. has appointed Patrick Harr, a former entrepreneur-in-residence at Enterprise Partners Venture Capital, as the firm's new chief executive officer.

Wednesday, February 7

SkillStorm Grows Into the Bay Area

SkillStorm Commercial Services, a San Diego-based staffing and outsourcing firm, said it recently opened a regional office in San Mateo serving the Bay Area.

Sony Online Entertainment Describes $1.87M Market in a Virtual World

Sony Online Entertainment LLC, the San Diego-based Sony division that produces the online game EverQuest, is out with a new white paper describing the economics of buying and selling virtual stuff , like EverQuest characters and paraphernalia.

Ophthonix Announces New CEO

San Diego-based Ophthonix Inc., a company developing new types of corrective lenses, announced Feb. 7 that Stephen Osbaldeston has joined the company as chief executive officer.

Chamber Luncheon Previews Film Festival

Organizers of this year's San Diego Jewish Film Festival are scheduled to speak Feb. 9 at the luncheon meeting of the Jewish American Chamber of Commerce at the Westgate Hotel.

FreedomVoice Launches Teleconference Service

Encinitas-based FreedomVoice Systems has launched an on-demand teleconferencing service, targeting small- and medium-sized businesses.

Tuesday, February 6

ResMed Reports Increased Sales, Income

ResMed Inc., a Poway medical device company, reported net income of $29 million, or 37 cents per diluted share, on revenue of $178 million during its second quarter, which ended Dec. 31.

Monday, February 5

Nonprofit Profile , Art of Living Foundation

Art of Living Foundation

Chicago Office Building Mogul Sam Zell Says State Market Is Healthy

Only days before selling off his U.S.-based commercial real estate, Chicago real estate mogul Sam Zell spoke at the University of San Diego's Burnham-Moores Center for Real Estate 11th annual real estate conference.

National University Acquires WestMed

National University announced Feb. 2 that it acquired San Jose-based WestMed College as its newest affiliate in the National University System.

Regional Roundup

Owners of the 1906 Lodge at Coronado Beach have excavated a space under their historic boardinghouse for parking. And other news from around San Diego County.

Former Paradise CEO Says He'll Revise His Offer for Hospital

At least 150 Paradise Valley Hospital employees have signed a petition pleading with the California attorney general to approve the sale of the hospital to Prime Healthcare Services Inc. Meanwhile, a former chief executive officer of Paradise Valley is ex

Sycuan Tribe Seeking to Increase Slots to 5,000, Add Land to Reservation

Casino gaming is still at the heart of Sycuan's business empire.

Succession Plan Recommended for the Long-Term Health of a Business

Question: I don't plan to retire anytime soon but would like to start thinking about a succession plan in case the unexpected should happen. Where do I begin?

San Diego People

Key Hires and Promotions; Executive Spotlight: Ken Kozlik

Foundations Announce Task Force to Find New Funding Sources for Balboa Park

The Legler Benbough Foundation, the Parker Foundation and the San Diego Foundation said Jan. 31 that they have formed a task force to find new sources of moneys to help run Balboa Park.

Chocolatiers Enjoy Sweet Success Around Valentine's Day

The county's handmade gourmet chocolate business is as rich in profit as it is in taste, especially this time of year.

Small Group of Shareholders Call for Ouster of Kintera's Founder, CEO

A group of unhappy investors in Kintera Inc. are demanding the resignation of Chairman and Chief Executive Officer Harry Gruber.

Sycuan Marketing Director Books Shows That Appeal to the 40-65 Crowd

While casinos have long counted on headliner acts to lure people to the tables, Sycuan Resort & Casino employs a different strategy.

Executive Profile , Nancy Walters

Remember when Flintstones added Betty Rubble to the vitamin bottle and M & M; candies added a purple candy to the bag? These are just a few of the hundreds of national campaigns executed by Very Special Events , and Nancy Walters.

Tijuana Plant Proves Good Medicine for Two Biomedical Entrepreneurs

The sterile environment inside Pacific Integrated Manufacturing is a stark contrast to the Tijuana neighborhood it calls home.

Foundations Initiate Study of Balboa Park's Financing Options

Whether the future of Balboa Park's administration will stay with the city of San Diego, change over to a private conservancy or become a private/public partnership is a question high on the agendas of regional public interest groups and local charity org

Correction

For Jan. 15, 2007.

The Experts Debate How Big Nascent Nanotech Industry Will Become

The local nanotech industry is small in more than one way.

Week in Review

Top Business News: Jan. 26 - Feb. 1, 2007

Del Mar's New Synthetic Track Likely to Reduce Catastrophic Injuries

Horses at the Del Mar Thoroughbred Club's summer meet will be running on a new synthetic track, which is expected to reduce the risk of catastrophic injuries.

Mercedes Gears Up to Lead SUV Market

Mercedes Gears Up to Lead SUV Market

Del Sur Community Nominated for Prestigious 'Green Building' Award

A massive North County community development project is anxiously waiting to hear if it has been awarded the most prestigious environmentally correct label a builder can earn.

County Places Fourth in Lodging Survey of Top 25 Destinations

Are we in for a new twist on an old saying? "San Diego is a great place to visit, but I can't afford to live there."

After 3-Year Test Run, Sycuan Markets Mutual Fund to All Investors

Daniel Tucker, chairman of the Sycuan Band of the Kumeyaay Nation, knows politics could end gaming, his bread and butter. So in 2003, the band launched the Sycuan U.S. Value Fund.

San Diego's Cinderella Story Started as a Seedy Sailor Town

Hal Sadler, and others who have been deeply involved in downtown's transformation from a sailor's pit stop to a place where people can "live, work, and play," view themselves as guardians of the seaside bounty.

ElderHelp, Networkcar, Rady Children's Hospital Receive Recognition

ElderHelp of San Diego's Aging as Ourselves program was selected as one of six recipients of the 2007 Healthcare and Aging Award from the American Society of Aging in collaboration with the Pfizer Medical Humanities Initiative.

Small Business Spotlight , UBuildIt

After logging 30-plus years in the corporate business world, most people would start pondering retirement, but not Randall Tutor. Instead, the 53-year-old has taken on a small business, buying a UBuildIt franchise. UBuildIt assists homebuilders and remode

Yes, San Diego Is A Navy Town, and Darn Proud of It

Yes, San Diego Is A Navy Town, and Darn Proud of It

Towers Changing Face of Downtown Skyline, But Not Its Soul

If you want to know how much downtown San Diego has changed in the past 20 years, just ask Sandy Shapery, who lives in the 4,500-square-foot penthouse atop the 27-story Emerald Plaza he designed and developed.

Coalition Forming to Oppose 'Crippling Costs' of New Runoff Rules

The Coalition for Clean Water and a Healthy Economy said the permit approved Jan. 24 by the San Diego Regional Water Quality Control Board imposes "crippling costs" on small businesses and will increase new home prices.

National City Tax Vote Back on the Ballot

National City voters , come November 2008 , will get another chance to say yea or nay to the sales tax hike passed in June.

Region's Economy Will Mirror The Housing Market in 2007

San Diego's healthy economy could be in for a hard landing this year if housing sales worsen, said experts at a recent panel presentation.

Letter

Applaud UC Regent Moores for Stance Against Tobacco Money

Military's Financial Impact on Region Approaches $12 Billion Mark

The U.S. armed forces , the second largest employer in San Diego County , pumped $11.7 billion into the region in 2004, a new report says.

Flower Biz Hopes It's Not Frozen Out of Market on Valentine's Day

Flowers and the businesses that peddle them are supposed to be in full bloom this time of year. But due to the recent cold wave, some of the county's flower crops may miss the big Valentine's Day spending spree.

Law Conference to Cover Gender Issues in the Internet Age

Do patents, copyrights and trademarks have gender? That is among the questions that will be explored at Thomas Jefferson School of Law's annual Women and the Law Conference set for Feb. 9.

Local Celebrity Executives to Go on the Air Sundays at Fox 6

A new television program designed to showcase local business leaders has arrived. XETV-TV Fox 6 began airing "San Diego's Best and Brightest," a half-hour business talk show, on Jan. 28.

Friday, February 2

Iomega Posts Profit for Quarter, Loss for Year

Iomega announced fourth-quarter and year-end financial results Feb. 1. Income from the quarter ended Dec. 31 was $4.9 million, or 9 cents per diluted share, on revenue of $76.2 million. For the same period of 2005, income was $1.9 million, or 4 cents per

San Diego Drivers Will Test Pay-By-The-Mile Road Funding

San Diego is about to become part of a cutting-edge national study that could result in a whole new way to raise revenue to pay for the country's aging roadways. The study will test the feasibility of replacing the time-honored gas tax with fees based on

Nassco to Make Navy Vessels Shipshape

Nassco, the San Diego shipbuilding unit of General Dynamics, was awarded a seven-year ship maintenance contract for six Navy amphibious assault ships that could be worth about $400 million, the subsidiary announced Feb. 1.

Mayor Appoints Redevelopment Executive

Janice Weinrick has been appointed assistant director of the city of San Diego's Planning and Community Investment Department, and deputy executive director for the city's Redevelopment Agency.

Thursday, February 1

Economic Barometer Falls; Forecast Calls for Slower Job Growth

San Diego's economy continued to show weakness in November and December, according to the latest Index of Leading Economic Indicators compiled by University of San Diego professor Alan Gin.

Regents Bank Grows in 2006

Regents Bank reported fourth-quarter and year-end financial results Feb. 1. Yearly net income ended up $1.1 million to a record of $2.6 million.