Stories for November 2007

Friday, November 30

USA Federal Credit Union Trims Staff

Reacting to a disturbing rise in delinquencies and anticipated foreclosures, USA Federal Credit Union eliminated 30 positions, more than 10 percent of its staff, from its payrolls recently.

Weekend Brings NBC Casting Call to City

NBC-TV representatives plan to be in town Dec. 1 and 2, casting for "My Dad Is Better Than Your Dad," a game show set to air in prime time in the fall.

Thursday, November 29

Economic Index Falls, Recession Possible But Unlikely

Except for a rise in local stock prices, five of six components of a local economic index declined in October, signaling a possible recession.

Allylix Secures $3.35M to Launch New Flavor, Fragrance Products

Allylix, a maker of products for the flavor and fragrance, pharmaceutical, nutraceutical and agricultural markets, said Nov. 29 it secured $3.35 million in financing it will use to launch three of six products.

PriceSmart Closes Fiscal 2007 With Quarterly Loss

PriceSmart Inc., the San Diego company that runs membership warehouse stores in Latin America, reported a net loss of $2.9 million, or 10 cents per share, on revenue of $230 million for its fourth quarter.

Wednesday, November 28

Deck the Park: Barona Funds December Nights

The Barona Band of Mission Indians will once again be presenting sponsor of Balboa Park December Nights.

HP Going Solar at Rancho Bernardo Plant

Hewlett-Packard Co. said Nov. 27 that it plans to install a 1-megawatt solar power system at its Rancho Bernardo facility.

Biosite Founder Establishes $1.5M Scholarship Fund

Kim Blickenstaff, who co-founded Biosite Inc. in 1988 and served as its chief executive until recently, has donated $1.5 million to a foundation benefiting students of Blessed Sacrament Parish School in San Diego.

Tuesday, November 27

French Company Buys PRA Destination Management

After 26 years in business, Patti Roscoe, a leader in the county's tourism industry, has sold her company, PRA Destination Management.

Civic Mood Perking Up, Says Poll

Maybe it's the sun, or the proximity of the holiday season, or the fact that the Chargers are finally playing up to their potential, but San Diegans are generally optimistic about the city's future, according to a survey done this month by Competitive Edg

Secretary Discusses Import Security

Secretary of Health and Human Services Mike Leavitt appeared Nov. 27 at the Port of Otay Mesa cargo facility to discuss the safety of imported products.

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.

Monday, November 26

Private Banking President Greets Customers By Name

From baby sitter to bank president. What a ride.

Facts and Figures About Wachovia's National Services

Wachovia Corp., based in Charlotte, N.C., reported a net income of $1.69 billion, or 89 cents per share, in the third quarter of 2007, compared with $1.88 billion, or $1.17 per share, in the third quarter of 2006

Week In Review

Top Business News

New Whole Foods Market Coming to Encinitas Mixed-Use Complex in 2009

Progress Report

When It Rains It Pours, But a Silver Lining in Every Cloud

Some passing thoughts on stories in the news.

Sales and Leases

The 71,995-square-foot Casa de Oro Shopping Center located at 9731, 9735-9805 Campo Road in Spring Valley has been sold to CIF Holdings for $13 million. Plus other sales and lease transactions.

Wachovia Expects to Cash in on Region's Global Contacts

Rife with plummeting real estate values and political squabbles, San Diego County is still viewed as prime turf for the banking industry.

Correction

For Nov. 19

Junior Seau Foundation Honors Bob Breitbard at Teammates Luncheon

The Junior Seau Foundation honored Bob Breitbard at the Seventh Annual Teammates Luncheon on Nov. 9 held at The Grand Del Mar hotel.

Tech Industry Bucks Trend Toward Slump

San Diego's economy may be slowing, but you probably don't know it if you're working in the area's high-technology industry.

Cubic Corp. Helping Federal Government With Maritime Security

Maritime security is getting more attention as our federal government installs stringent measures to counter the possibility of terrorism attacks involving our shipping ports.

Banks Work Harder to Satisfy Small-Business Customers

Small-business customers are a lot harder to please than regular folks when it comes to banking services.

Entrepreneur Profile - Mike Tiffany

Mike Tiffany has been in the construction industry for 18 years, working his way from electrician up to project manager.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: Waste Management Inc. and the city planned to launch the Toys for Little Troops project at the fifth annual Community Holiday Lighting Celebration on Nov. 16 to benefit the children

San Diego People

Key Hires and Promotions. Executive Spotlight: Maggie Watkins.

New Law Means Some Military Spouses Will Be Home for Holidays

Under a new measure signed into law Oct. 9 by Gov. Arnold Schwarzenegger, it's possible some San Diego military families will be spending more time together this holiday season.

Rising Office Vacancies in the County Reach 10-Year High

Office vacancy rates in the county reached a 10-year high in the third quarter, according to a recent office market report released by Colliers International Property Consultants' San Diego office.

16% of County's Home Listings Bank Owned, in Foreclosure or Seeking Short Sales

Redwood City-based brokerage firm Movoto Inc. reports that inventory and list prices are declining, and time on the market and number of distressed properties are increasing.

New Spinal Products Tapping Big Markets

NuVasive Inc.'s Nov. 8 announcement that it will occupy the building Elan Corp. will vacate in January marked the first of a small flurry of activity surrounding spinal device makers.

Gov. Schwarzenegger Vetoes Bill Requiring Calorie Info on Restaurant Menus

Gov. Arnold Schwarzenegger vetoed Senate Bill 120 Oct. 15, which would have required chain restaurants with at least 14 locations to post calorie information with food items on menus.

Hotel Del's Holiday Festival at Santa's Village Scheduled for Nov. 28

Hotel Del's Holiday Festival at Santa's Village Scheduled for Nov. 28

Silvergate Parent Changing Ownership, Conducting Private Stock Placement

Silvergate Capital Corp., the La Jolla-based parent company of Silvergate Bank, is conducting a private stock placement to revamp the company's current ownership and bring in outside investors.

Duke University Study Finds Hospice Care Reduces Medicare Costs

The results of a study conducted by Duke University show that hospice care saved Medicare nearly $2,500 per patient.

Executive Profile - Jason Ivy and Mark Davidowski

After meeting in their teens and both venturing into the corporate world after college, Jason Ivy and Mark Davidowski decided to come together and brainstorm how they were going to break into the wine industry in San Diego.

New Approach to Teaching Business Law Is Needed

Let us make these radical proposals: Business schools need to change the way they teach business law and business managers need to change the way they manage legal problems.

San Diego Boasts 2 Hotels With Five Diamond Ratings

In a state with the most AAA Five Diamond awards for hotels of any in the country for 2008, 16, Southern California had 13 inns on the list and San Diego County had two.

South Bay Expressway New Tool in Toolbox

The highway that's been on the drawing boards since 1959 finally opened Nov. 19.

Cyber Monday Time of Distraction for Employees

It's Cyber Monday. Do you know any employees who are shopping while at work?

Desalination Plant Heads Toward Splashdown Dec. 3

With a final hurdle within sight, the controversial Carlsbad desalination plant appears to be on schedule.

San Diego Jobless Rate Doesn't Waver

San Diego's unemployment rate held steady at 4.8 percent for the third consecutive month in October, according to a report released by the state's Employment Development Department on Nov. 16.

Gaslamp Businesses Give Way to Corporate Operations

That the Moon Caf & #233; and KD Donuts have become two of the more recent relics left behind in the Gaslamp Quarter's redevelopment push, or to put it more bluntly have bitten the dust, comes as no real surprise.

Tuesday, November 20

It's Powder Blue and Plasma: Chargers Seek Blood Donors

The Chargers are sponsoring their 29th annual Blood Drive on Nov. 20 from 9 a.m. to 7 p.m. at the Town and Country Convention Center at 500 Hotel Circle.

Monday, November 19

Partnerships Show Results in Isis Pharmaceuticals' Quarterly Report

Isis Pharmaceuticals Inc., the Carlsbad-based pioneer of antisense technology, said Nov. 8 it swung to a profit in the third quarter largely due to a $26.5 million license payment from Alnylam Pharmaceuticals Inc.

Chula Vista First Stop for U.K. Food Giant Tesco

The only grocer happy about Tesco's arrival here is Tesco, according to Lloyd Greif of Los Angeles-based investment bank Greif & Co.

N. County Home Buyers Find Ways to Beat the High Cost of Living

Housing prices continue to drop, as do listings for single-family detached units in North County, according to a local association of Realtors.

Is Democracy Losing Its Warm Glow in Indonesia?

Is Democracy Losing Its Warm Glow in Indonesia?

CyberKnife Cancer Treatment Center Opens North County Office

Less than two years after CyberKnife Centers of San Diego Inc. opened its first local office, the cancer treatment center launched its second location in mid-November.

Sacramento Needs to Use Infrastructure Bonds Wisely

Sacramento Needs to Use Infrastructure Bonds Wisely

Market for Nanotech Products Expected to Be $1.5T in 2017

What is nanotechnology?

Like a Phoenix, Hotel Industry Rises Above October Wildfires

For now at least, local inns are experiencing a boon in business after the October wildfires.

Hewlett-Packard Finishes a $104B Year

Hewlett-Packard Co. reported Nov. 19 that it had fourth-quarter net earnings of $2.2 billion on net revenue of $28.3 billion.

Redesigned Cruise Ship Terminal to Dock With Bigger Price Tag

A redesigned cruise ship terminal at the Broadway Pier got higher marks all around from San Diego Unified Port District officials last week, but with a nicer look comes a higher price tag.

Irvine's Ware Malcomb Completes Toyota San Diego Dealership Project

Irvine-based architecture and design firm Ware Malcomb has completed design and construction of Toyota San Diego, a full-service auto dealership located at 5910 Mission Gorge Road in Allied Gardens.

Firestorm 2007 Sparks Unity in Community

I just want to say "Well done" to the thousands of firefighters, police officers and volunteers who made surviving the worst fires in the state's history possible for most of the region's residents.

Cardium Breathes New Life Into Discarded Technologies

While it remains to be seen whether Cardium Therapeutics Inc.'s potentially lifesaving cardiovascular and cooling technologies will heat up the marketplace, its efforts in developing and marketing are moving full steam ahead.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: Fitch Ratings assigned an A+ rating to $115 million in bonds called certificates of participation to pay for planned capital improvement projects in the city of Vista.

SmartDrive Gets $46M in Venture Funding

SmartDrive Systems Inc., the San Diego company that uses technology to monitor employee driving habits and to capture video of accidents, said Nov. 13 that it closed a $46 million Series D round of funding.

Junior Achievement Inducts Three Local Leaders Into Business Hall of Fame

Junior Achievement of San Diego and Imperial counties held its 19th annual San Diego Business Hall of Fame awards Nov. 1 at the Hotel del Coronado, inducting three local business leaders.

Correction

For Oct. 29, 2007.

Judge Dismisses Two De La Fuente Lawsuits

A San Diego Superior Court judge dismissed two lawsuits Nov. 16 filed against the city of San Diego by entities controlled by developer/car dealer Roque De La Fuente.

San Diego People

Key Hires and Promotions. Executive Spotlight: Wade McKnight.

Former UCLA Economist Says National Economy Slipping Into Recession

Citing the housing crash and consumer spending retreat, economist Christopher Thornberg predicted that a recession, or shrinkage in the national gross domestic product for at least two quarters, is almost a certainty next year.

Week in Review

Top Business News: Nov. 9 - 15, 2007

Diving for Dollars

First they swam. Now they crawl. The little underwater vehicles made by SeaBotix Inc. are diving deeper and taking on new tasks, while generating revenues for their San Diego builder.

Executive Profile , Wendy M. Crain

Wendy M. Crain has been with San Diego Coaster Co. for 17 years. She started as a secretary with the company, which runs attractions at Belmont Park in Mission Beach, and now she is the lead manager for the park.

Analysts Still Bullish After Qualcomm Reports Fourth-Quarter Results

Shares of Qualcomm Inc. dropped 4 percent Nov. 8 after the company released fourth-quarter results. But most analysts remain bullish on the company.

Small-Scale Research Shows Promise for Big Industry Impact

A tiny technology that comes with the promise of making cars more accident resistant, cancer therapies more precise, solar panels cheaper and computer operations faster has brought about big ideas in a relatively short amount of time. But the study of nan

Sales and Leases

PCCP DJ ORTHO LLC has sold its 120,221-square-foot, single-story manufacturing facility located within the Oak Ridge Corporate Centre located at 2985 Scott St. in Vista to LEAFS Investments LP for $28 million. And other sales and leases.

Local Financial Services Industry Laying Off By The Hundreds

Financial services, a growth industry for the local economy in recent years, has been cutting staff at a faster rate this year as the upheaval in the mortgage-lending sector continues.

Jack's Secret Weapon Ad Too Saucy for Some Television Viewers

Jack in the Box Inc.'s latest TV commercial touting a couple of new test-market sandwiches is, um, tasteless.

Trade Group Promotes Business Opportunities in Nanotechnology

A quick look at NanoBioNexus, a San Diego-based nonprofit managed by volunteers in the fields of science and business.

Entrepreneur Profile , Don Teemsma Jr.

Don Teemsma Jr. learned the plumbing business literally at his father's knee.

More Than $4M Contributed to Post-Fire Fund

The San Diego Foundation is taking on the question of what can make the county whole again following last month's fires.

Deep Sea Treatment for Superbug Holds Promise, Comes With Challenges

Scientists have long suspected that the sea holds the potential to provide new medicines for a variety of human ailments and diseases.

Toy Retail Chain Turns to German Products to Meet Demand

Though toy recalls have become routine, and in some cases, bizarre, the $22.5 billion toy industry will likely remain front and center this holiday season, according to local retailers.

Friday, November 16

South Bay Expressway Set to Open

The South Bay Expressway, a 10-mile extension of state Route 125, opens to the public Nov. 19.

Desalination Plant Gets Pivotal Approval

The Carlsbad Desalination Project overcame its second-to-last hurdle when the California Coastal Commission approved its development permit Nov. 15 with a 9-3 vote.

Jack Wraps Up Year, Wall Street Approves

Shares in Jack in the Box Inc. climbed more than 17 percent Nov. 16 after the company released fourth-quarter earnings and a new earnings forecast.

San Diego Jobless Rate Doesn't Waver

San Diego's unemployment rate held steady at 4.8 percent for the third consecutive month in October, according to a report released by the state's Employment Development Department on Nov. 16.

Thursday, November 15

Accenture Buying Maxim Systems

Accenture said Nov. 15 that it has agreed to buy San Diego-based Maxim Systems Inc. for an undisclosed sum.

Seismic Retrofit Rules Change for Hospitals

Up to 60 percent of low-risk hospitals across the state will not have to complete a seismic retrofit and replacement until 2030 after the state approved new regulations Nov. 14.

Mad Catz Picks Up Saitek

Mad Catz Interactive, a San Diego maker of video game accessories, said Nov. 14 it acquired Saitek Inc., a maker of computer peripherals, for $30 million.

Wednesday, November 14

Charlotte Russe Rings Up $741M in Yearly Sales

Charlotte Russe Holding Inc., a San Diego women's wear retailer, reported Nov. 14 net income of $8.4 million on revenue of $190.3 million for the fourth quarter that ended Sept. 29.

Qualcomm Buying Firethorn for $210M

Qualcomm Inc. said Nov. 14 that it is buying Firethorn Holding LLC, an Atlanta-based company that provides the technology platform allowing banks to offer wireless banking services to its customers, for $210 million.

Tuesday, November 13

Increase in Broadband Use Could Add $11B in Local Payroll

Assuming there's a 3.8 percent annual increase in the use of Internet broadband in California during the next 10 years, San Diego could gain 152,000 new jobs and $11 billion in added payroll in that period, according to a study released Nov. 13.

Disaster Effort Praised; Loss Estimated at $2.09 Billion

A team of experts praised the way San Diego's business and civic communities reacted to the economic disruption caused by the October wildfires.

Lawsuits Allege SDG & E; Played Role in Starting Fires

Three San Diego County residents filed a pair of class-action lawsuits against San Diego Gas & Electric Co. on Nov. 13, alleging that the utility played a role in starting the Witch Creek and Rice fires.

Monday, November 12

Aging Structures, Rising Enrollments Push Expansion of Ed Facilities

A combination of aging campus structures and growing enrollment rates has many colleges and universities in San Diego County pushing to renovate or expand.

Business Journal Editors, Reporters Take 27 Awards at Press Club Dinner

The editorial staff of the San Diego Business Journal won 27 awards at the San Diego Press Club's 34th Annual Excellence in Journalism Awards dinner held Nov. 7.

Federal Judge Grants Stay in Imposing Patent Rules

Life sciences firms claimed a temporary victory on the eve of major changes to the patent application process after a Virginia federal court judge granted pharmaceutical giant GlaxoSmithKline a preliminary injunction, stalling new rules that were to take

Navy Fans, Hoteliers to Win Big if Team Plays in Poinsettia Bowl

San Diego has long been known as a Navy town, so it's only fitting that next month the U.S. Naval Academy football team will make a showing in the third annual San Diego County Credit Union Poinsettia Bowl. That's assuming Navy beats the University of Nor

Correction

For Nov. 5, 2007.

San Diego Foundation's After-the-Fires Fund Created to Aid Relief Efforts

Pacific Western Bank, a subsidiary of First Community Bancorp, is donating $1 million to the newly created Pacific Western Bank Fund at the San Diego Foundation.

Big Events Don't Always Hinge on Small Circumstances

Big Events Don't Always Hinge on Small Circumstances

Shea Homes Can Say They're Still No. 1 in Local New-Home Sales

Shea Homes San Diego, the local division of Walnut-based Shea Homes, remained the No. 1 San Diego homebuilder in MarketPointe Realty Advisors' Top 25 Builders list for the third quarter.

Declining Dollar Does Wonders For Some Companies

The devalued dollar may be causing some distress for the U.S. economy, but for companies that sell products overseas, it's creating positive results.

Sentek Gets Prime Spot on $20M Spawar Deal

Sentek Consulting, a San Diego-based defense contractor, said Nov. 12 that it was named the prime contractor on a five-year, $20 million contract for information assurance and certification services to the Space and Naval Warfare Systems Command here.

Boutique Survived the Holidays for a Dozen Years at La Jolla Hotel

How do you survive in a tough business for more than a dozen years? For Kathryn Murphy, it was all about diversification.

Entrepreneur Profile , Ben Hoskins

Ben Hoskins' 1-800-GOT-JUNK? LLC franchise is a perfect example of a business that didn't need an elaborate startup plan, or even a huge initial investment in equipment.

Vons Opens Upscale 'Lifestyle' Store at Liberty Station Marketplace

Liberty Station Marketplace in Point Loma celebrated the grand opening of a new Vons grocery store, the latest addition to the former Naval Training Center grounds, on Nov. 1.

Winter Wonderlands Weather Highs, Lows of Seasonal Business

Ever wonder how a year-round holiday store that peddles Santas and snow globes in July manages to survive? Here's a hint: Make sure that you have lots of money coming down the chimney or you could be in for some rough sledding.

Executive Profile , Ron Miriello

Ron Miriello, founder and president of Miriello Grafico Inc., has a vast array of clients. He has designed everything from new packaging for the technology company Iomega Corp. and Carlsbad golf ball maker Maxfli to a completely new look for the San Diego

San Dieguito Lagoon Restoration Effort Benefits Business, Too

The San Dieguito Lagoon wetland restoration project is more than a sanctuary for coastal wildlife. The extensive and environmentally sensitive project has generated millions of dollars in contracts for local construction and environmental companies.

Trio Putting $250K Into Emergency Mobile Videos' New 'First-Aid Kit'

The founders of Emergency Mobile Videos Inc. view their product as the 21st century version of a first-aid kit.

San Diego People

Key Hires and Promotions. Executive Spotlight: Ruby Randall.

Metro PCS Proposal to Buy Leap Wireless Appears to Be Off the Table

The merger of two small cellular carriers appears to be dead in the water following pronouncements by the two companies last week.

Rudolph and Sletten to Oversee USD's $28M Hahn Center Expansion

Rudolph and Sletten Inc. has been named as the general contractor for the $28 million University of San Diego Hahn University Center expansion, which is scheduled to be completed in May 2009.

Holiday Sales Hinge More on Customer Service, Say Retail Experts

Excessive negativity in media headlines predicting low sales during the holidays doesn't help business, said local retail analyst George Whalin.

Retail Centers Veteran Hired to Scout Properties for Terramar

Carlsbad-based Terramar Retail Centers, the owner, developer and operator of 19 retail shopping centers in California, Oregon, Washington state and Colorado, plans to do some shopping of its own.

Kratos Reports $48M Quarter, $13M Net Loss

Kratos Defense & Security Solutions Inc., the company formerly known as Wireless Facilities Inc., said Nov. 12 that it had a third-quarter net loss of $13.4 million, or 18 cents per share, on revenue of $47.5 million.

IMS Health Report Predicts U.S. Drug Sales to Slow in 2008

Despite booming sales of prescription drugs in emerging economies such as Brazil, China, Mexico and Turkey, upcoming patent expirations for some major drugs are going to put a damper on sales as generic manufacturers step up to compete.

Week in Review

Top Business News: Nov. 2 - 8, 2007

Annual Women Who Mean Business Event Raises $50,000 for Wildfire Relief

The San Diego Foundation's After-the-Fires Fund 2007 raised $50,000 for relief efforts at the San Diego Business Journal's Women Who Mean Business Awards festivities Nov. 1.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: The Privateer Lynx, Lady Washington, Spirit of Dana Point and Hawaiian Chieftain tall ships are scheduled to sail into Oceanside Harbor come January.

Sales and Leases

Border Station Partners has purchased the Border Station Parking Facility located at the U.S.-Mexico border crossing from a private seller for $17,525,000. And other sales and leases.

Calendar

Business Events: Nov. 13 - 16

'Generation Q' Not in Our Face Like Other Generations

'Generation Q' Not in Our Face Like Other Generations

Alvarado Hospital Nurses to Get Raises, More Benefits

A four-year agreement that allows for raises and additional benefits for the 350 registered nurses employed at Alvarado Hospital was announced Nov. 9.

Writers' Strike Putting Local Film, Television Projects in Limbo

The striking Writers Guild of America has thickened the plot for San Diego's fledgling film industry. Or not, depending on how you look at it.

Banks Putting More Into Loan Loss Reserves as Economy Slows

With the economy slowing, more banks are reporting problems in their loan portfolios.

Crews Installing Shear Pins to Stabilize La Jolla Landslide Area

The city of San Diego continues to move forward with reinforcing the hillside on Soledad Mountain Road after an early October landslide. Crews are working 12-hour days, six days a week to install stabilizing columns and to collect geotechnical data to dis

Latina Launches Networking Site for Quinceaneras

The 15th birthday celebration, or quinceanera, is a significant event for girls in Latin-American cultures. Now more than seven years past that milestone, Natalie Richards is working on something just as big and complex.

Nanogen to Trim Business Unit, Work Force

Nanogen Inc., a San Diego-based maker of diagnostic products, said Nov. 12 that it would close its microarray business and cut its work force by 20 percent.

Newspapers' Circulation Drops: It's Not a Black and White Issue

Black and white, but read increasingly online that's what major newspaper publishers, including Copley Press Inc., have been saying in response to reports of declining circulation figures.

Friday, November 9

Leap Shares Fall

Shares of Leap Wireless International Inc., the San Diego wireless carrier that provides service under Cricket Communications, fell $21.38 or nearly 37 percent Nov. 9 to close at a 52-week low of $36.72 after disclosing it was restating financial results

With Elan Gone, NuVasive to Occupy New Space

NuVasive Inc., a San Diego-based maker of minimally disruptive surgical treatments for the spine, will move its headquarters into the Sorrento Valley buildings formerly occupied by Elan Pharmaceuticals in the first half of next year.

Downtown Denizens Receive Alonzo Awards

The 2007 Alonzo Awards event, which honors people, projects and programs that have contributed to the revitalization of downtown San Diego, was held Nov. 8 at the U.S. Grant Hotel.

CVS Takes Wraps Off Store-Based Clinics

Minute Clinic announced Nov. 7 it had opened six health care clinics in CVS/pharmacy stores in San Diego County, and has plans to open 10 more by the end of the year.

Thursday, November 8

Sales Grow But Net Income Ebbs at Infosonics

Infosonics Corp., a San Diego distributor of cell phones mainly in Latin America, reported net income of $373,000 on sales of $69.4 million for the third quarter.

Qualcomm Closes Book on $8.9B Year

Qualcomm Inc. finished its fiscal year Sept. 30 with net income of $3.3 billion on revenue of $8.87 billion, the company said Nov. 8.

Isis Swings to Third Quarter Profit

Isis Pharmaceuticals Inc., the Carlsbad-based pioneer of antisense technology, said Nov. 8 it swung to a profit in the third quarter largely due to a $26.5 million license payment from Alnylam Pharmaceuticals Inc.

Rubio's Rings Up Record Sales

Rubio's Restaurants Inc., which built a menu around its signature fish tacos, said Nov. 7 that its third-quarter net income amounted to $732,000 on revenue of $44 million.

Wednesday, November 7

Chicken of the Sea Names New Chief

Shue Wing Chan has been named president and chief executive of Chicken of the Sea International, a San Diego-based seafood packager, the company said Nov. 6.

DivX Stock Bounces Up

DivX Inc., a San Diego maker of video compression software, saw its stock soar nearly $4, or 33 percent, on Nov. 6 to close at $15.89 after the company reduced its earnings, but raised revenue expectations for this year.

Virgin America Kicks Off San Diego Service

Virgin America said Nov. 7 that tickets went on sale for daily flights between its home base of San Francisco International Airport and Lindbergh Field for service beginning Feb. 12.

Kintera Cuts Loss

Kintera Inc., the San Diego maker of software that helps nonprofits manage fund-raising, reported a third quarter net loss of $1.7 million on revenue of $11.9 million.

Tuesday, November 6

Fires Won't Harm Agencies' Credit Ratings

Wildfire damage in the San Diego region, which by one estimate is in excess of $2 billion, won't hurt the credit ratings of any of the affected counties, cities and public agencies issuing debt in Southern California, according to a Fitch Ratings statemen

Longtime News Director to Leave KPBS

After more than 10 years at KPBS, San Diego's PBS affiliate, News Director Michael Marcotte announced in early November that he is leaving the organization.

Monday, November 5

It's Clear, Three Local Sports Stations Are Too Many

John Lynch, president and chief executive officer of the Broadcast Company of the Americas, said last week that BCA has taken on a new partner and plans to grow by buying more radio stations.

Sales and Leases

Invesco Real Estate has purchased Parkway Commerce Center, a 147,907-square-foot industrial complex, from the Janez Group for $25 million. And other sales and leases.

First PacTrust Bancorp's Profits Decline

First PacTrust Bancorp Inc., the parent firm of Pacific Trust Bank, reported Nov. 2 net profit of $283,000 for the third quarter, and $2.1 million for the nine months ended Sept. 30.

Cedros Avenue Shop Owners Expect Quick Recovery After the Fires

Solana Beach was evacuated, but not burned, during the late October fires. Retailers in the Cedros Avenue Design District mull how long it will take to bounce back.

Letters

Journalists Have Responsibility Not to Misinform Public. Impressed With Firefighters and Those Risking Their Lives.

Businesses That Suffered Losses From Fires Can Borrow Up to $1.5M

Even before firefighters had the blazes under control last month, federal agencies sprang into action and worked with state and local governments to set up one-stop disaster aid centers.

$1 Billion to Be Spent on Holiday Inns' New Look, Logos, Bedding

Pretty soon, Holiday Inn's flag is going to become a collector's item.

Kratos to Buy Haverstick for $90M

Kratos Defense & Security Solutions Inc., formerly known as Wireless Facilities Inc., said Nov. 5 that it is acquiring privately held Haverstick Consulting Inc. of Indianapolis for $90 million.

Romance of the Rails? It's There, But Watch Your Step

Romance of the Rails? It's There, But Watch Your Step

Flexible Office Designs Reflect New Collaborative Work Ethic

A new generation of employees and business owners is changing the mindset for setting up interior office space. And local architects, general contractors and interior designers are responding with more collaborative work environments.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: National City Week festivities include updates on the city's community action plans, community exhibits, multimedia displays and a mini-Taste of National City.

Cedros Avenue's in Full Bloom as Posh Design District

Sean MacLeod figures that he was just the right guy at the right place at the right time. "And I was able to convince everybody to see it my way," joked MacLeod, who is credited with lighting the spark that ignited what is now the Cedros Avenue Design Dis

Interior Designer Puts Contemporary Imprint on Downtown Projects

Award-winning interior designer Jules Wilson is changing the face of downtown San Diego residential interiors , one hot project at a time.

Fire Losses Top $2 Billion

Damage could top $2 billion in San Diego County as a result of the wildfires that ravaged the county late last month. More than half the losses involve homes and other structures.

Apparel Maker Ashworth Shuffles Top Execs Twice in Five Months

Usually when a corporate shake-up occurs, it's no surprise that the usually poor-performing stock enjoys a momentary bump. But that isn't the case with Carlsbad-based Ashworth Inc.

Lessons Learned From 2003 Helped Media Coverage

As local media outlets began to critique themselves on how they covered the worst wildfires in the state's history, it was apparent that the 2003 fires were a primer for those that broke out the week of Oct. 21.

Week in Review

Top Business News: Oct. 26 - Nov. 1, 2007

Sempra Energy Establishes $5M Fund to Aid Victims of Recent Fires

In response to the recent wildfires, Sempra Energy said it has established a $5 million fund to aid its Southern California customers and impacted local communities.

Networking Site Loop'd to Seek Sports Fans

In the nascent marketplace of social networking, San Diego-based Loop'd Network is taking a sharpshooter's approach, as opposed to the shotgun strategy of MySpace.com, the major player in the space.

Scripps' Disaster Team Deployed for Fire Aid in Rancho Bernardo

A crew of 13 staff members and a mobile medical unit from Scripps Health provided medical services to residents of Rancho Bernardo beginning Oct. 25 and extending to Nov. 4.

Federal Bills Would Extend Medical Coverage for Mental Health

Although California has its own mental health parity law, there has been a push at the federal level from both the House and Senate.

Bonds Drive Road Construction, Economy Doesn't Affect Progress

Even with the daily economic news riding on a roller coaster, there seems to be plenty of progress being made in transportation construction, with government money being the catalyst.

Proposed Mixed-Use Project Draws Opposition

The historic and iconic El Cortez may soon share its block with another residential high-rise building, and that is generating controversy.

San Diego People

Key Hires and Promotions. Executive Spotlight: Michael Ventura.

Entrepreneur Profile , Addie Merrill

Addie Merrill, owner of Addie's Studio, turned her dedication to fitness into a plan for her own business after several years of providing personal training at gyms.

SDBJ's Most Admired CEO Fest Draws Big Crowd at the Marriott

More than 630 attendees participated in the San Diego Business Journal's first Most Admired CEO event held Oct. 18 at the downtown Marriott Hotel & Marina.

Construction Starts on $20 Million Premier Crossing Office Park in Vista

Progress Report: City of Vista officials attended the Oct. 29 groundbreaking ceremony that marked the start of construction on Premier Crossing, a $20 million medical and professional office park.

Associations Making Displaced Residents' Rental Searches Easier

Numerous Realtor associations and the local apartment association have compiled lists of available rental housing for displaced residents at prices that are comparable to or in some cases reduced from prices paid before the recent wildfires.

NIH Awards Scripps $51 Million Contract for Immune System Research

A division of the National Institutes of Health awarded the Scripps Research Institute in La Jolla a five-year, $51 million contract that will be used to build a detailed picture of how the immune system functions, Scripps said Oct. 25.

Executive Profile , Ted Adams

Comic books may not seem like the basis for a profitable business, as consumers turn to newer forms of media for entertainment. But Ted Adams, president and owner of IDW Publishing, says there is renewed interest in comics and graphic novels.

Poway Defense Contractor Found Guilty

Poway defense contractor Brent Wilkes was found guilty Nov. 5 of bribing former Rep. Randy "Duke" Cunningham, according to a statement from U.S. Attorney Karen P. Hewitt.

Solana Beach Stores Hold Anniversary Open House

Some tidbits about the Cedros Avenue Design District in Solana Beach, which celebrated its 10th anniversary in October with events that included a streetwide open house.

Damage to Avocados, Other Crops in County Shoots Above $30M

Brown avocados that cling to burnt trees in Fallbrook tell a grim tale of the wildfires that ripped through San Diego County starting Oct. 21, wiping out crops so meticulously cared for yet vulnerable to nature's whim.

Newsprint Blues: Daily Newspaper Circulation Slides Again

Circulation at the nation's daily newspapers fell 2.6 percent in the six months ending in September, according to figures released Nov. 5 by the Audit Bureau of Circulations.

Car, Truck Registrations Predicted to Drop 4 Percent

San Diegans aren't buying the number of new cars like they used to.

Friday, November 2

USS Sampson to Join San Diego-Based Fleet

The Navy's newest destroyer will be based in San Diego following commissioning ceremonies, set for Nov. 3 in Boston.

Foundation Ready to Handle Fire Relief Funds

The San Diego Foundation is administering donations from corporations that would like to help with fire relief.

Thursday, November 1

Sempra Posts Third-Quarter Results, Increases Forecast

Sempra Energy reported its third-quarter results Nov. 1 showing income from continuing operations of $330 million, or $1.24 per diluted share, and net income of $305 million, or $1.15 per diluted share.

Callaway Completes Third Quarter With Small Profit

Carlsbad-based Callaway Golf Co. reported on Nov. 1 that its third-quarter net income was $1.3 million, or 2 cents per share, on revenue of $236 million.

Vista Comes Together for Nov. 7 Expo

The Vista Chamber of Commerce will hold its annual Business and Technology Expo Wednesday, Nov. 7, from 3 to 7 p.m. at the Vista Business Park, 995 Joshua Way.

Novalar Raises $30 Million in Late-Stage Financing Round

Novalar Pharmaceuticals Inc., a privately held pharmaceutical company focused on dental treatments, said Nov. 1 it closed a $30 million series D financing round.

Pacific Western Fund's Initial Focus: Fire Relief

First Community Bancorp and subsidiary Pacific Western Bank have donated $1 million to a new fund that will benefit the community. Initially the fund will support fire relief.