Stories for January 2008

Thursday, January 31

Overall USD Index Slips, Building Permits Rise

The University of San Diego Index of Leading Economic Indicators dropped in December, for the 20th month out of 21, the university reported on Jan. 31.

Abbott to Take Minority Interest in Ibis Biosciences

Carlsbad-based biotechnology company Isis Pharmaceuticals Inc. said Jan. 31 that Abbott Laboratories agreed to invest up to $40 million in its subsidiary, Ibis Biosciences Inc., with the option to buy the company.

Navy Shows Off Novel Weapon

The Navy said it completed a watershed test with its electromagnetic rail gun on Jan. 31.

Wednesday, January 30

New Salk Program Benefits From $11.5M Gift

The Salk Institute received $11.5 million in gift money from a newly formed European foundation that will fund the creation of a new Salk program, the La Jolla institute announced Jan. 29.

Cymer Caps Off Year, Predicts Weakening Demand

Shares in Cymer Inc. lost $6, or more than 17 percent of their value, in midday trading Jan. 30 after the company reported 2007 earnings and a dimmer forecast for the current quarter.

Tuesday, January 29

State Senate Committee Scuttles Health Care Bill

A state Senate committee on Jan. 28 voted 7-1 against Gov. Arnold Schwarzenegger's health care reform bill, which would have guaranteed health insurance for all Californians.

Monday, January 28

Barney & Barney Merges With Oakland Brokerage

San Diego-based Barney & Barney LLC and Saylor & Hill Co. of Oakland will merge, the two insurance brokerages said Jan. 24. Terms of the deal were not disclosed.

Qualcomm Reports Earnings, Sets Microchip Shipment Record for the Q1

Qualcomm Inc. reported Jan. 23 that it earned $767 million, or 46 cents per diluted share, on revenue of $2.44 billion during the quarter ended Dec. 30.

Virtual Modeling Method Connects Project Planners in Real Time

When San Diego's Cymer Inc. needed to quickly expand its Rancho Bernardo manufacturing facility to get a new laser product to market, the company embraced a new method of construction planning.

Hawaiian Airlines Confident Despite Rising Fuel Costs, Slower Economy

Larry Hershfield will be the first to admit that the airline industry has not been consistently profitable. But Hershfield is still confident in his decision to buy bankrupt Hawaiian Airlines three years ago.

Component Maker Extols Chinese Plants

Despite an increase last year in defective Chinese-made imports including food components and toys, the folks at San Diego-based Pulse, which does practically all its manufacturing there, aren't worried.

San Diego People

Key Hires and Promotions. Executive Spotlight: Warren Raisch.

US Grant's Dibella Piecing Together Storied Past of Grand Hotel

It began when Mark Dibella received a call from a local resident a couple of years ago. The caller had happened upon some documents and newspaper clippings in her attic that turned out to be the contents of the US Grant Hotel's original time capsule.

High-Rise Designers Challenged to Blend Brawn With Beauty

When high-rise designers and architects take on a project they're typically working with a much smaller parcel of land than for the average edifice built closer to the ground. There is the challenge of getting myriad pieces of a high-rise to work in seaml

Industrial Space Glimmers in Area's Real Estate Rubble

Caution is the watchword in the industrial space market, where investment sales have slowed. Debt , not demand , is the puzzle that has sidelined buyers.

Letters

There Is No Free Lunch. Thanks From the U.S. Open.

Podcast: Preview the San Diego Business Journal

Web Editor Brad Graves provides highlights from the Jan. 28, 2008 issue of the San Diego Business Journal.

Security Business Bank Grows Income 14 Percent

Security Business Bank of San Diego said Jan. 28 that it had un-audited net income of $1.6 million in 2007, up 14 percent from $1.4 million in 2006.

Mintz Levin's Carmel Valley Office Getting $4 Million Makeover

Progress Report: TSA Contracting was selected by Mintz, Levin, Cohn Ferris, Glovsky and Popeo, an international law firm, to oversee tenant improvement construction on its new office in Carmel Valley.

Week in Review

Top Business News: Jan. 18 - 24, 2008

National Health Care Staffing Agency to Open Local Franchise

BrightStar Healthcare plans to open its first San Diego franchise in March. Within five years, the Illinois-based health care staffing agency says it has plans to open 13 more franchises in the county.

More Rate Cuts in the Future From the Federal Reserve?

Was the Fed's move last week enough? That's the question millions of investors are asking in the wake of the three-quarter point reduction to the benchmark Fed funds rate on Jan. 22.

H & M; Brings Cheap-Chic to Otay Ranch Town Center Shopping Mall

Fashion-conscious shoppers on a budget can storm the sidewalks of Otay Ranch Town Center in Chula Vista this spring to clear out the racks of San Diego County's first H & M; clothing store.

The Viterbi Family Foundation Awards $2.5M to Taglit-Birthright Israel

The Viterbi Family Foundation awarded $2.5 million to Taglit-Birthright Israel to help provide people ages 18 to 26 with a trip to Israel to learn more about their heritage.

Luce Forward Revamps Pay System for Associates Starting Jan. 1

Under pressure to keep legal fees low and attorney pay competitive, San Diego-based Luce, Forward, Hamilton & Scripps LLP overhauled its pay system for associates this month.

Downtown Condominium Resale Market Holds Its Own in 2007

Resales of condominiums downtown remained at 2006 levels in 2007.

Book of Lists Party Attracts Big Crowd

Close to 700 businesspeople attended the San Diego Business Journal's annual Book of Lists Party.

Architectural Firm Devoted to Public, Commercial Projects

With a practice split between forensic architecture and design work, Salerno/Livingston Architects keep themselves both busy and fascinated with the diversity and range of projects.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: Cuyamaca College plans to celebrate the opening of its Communication Arts Building from 7 to 9 p.m. Jan. 31.

Grande Dame Getting Fit

It's doubtful that any single entity has ever spent as much money redeveloping a hotel in this county as the Sycuan Band of the Kumeyaay Nation has on The US Grant, and the sum continues to grow.

Entrepreneurial Spirit Driving $1 Billion Real Estate Agents

Steve Kantor, author of "Billion Dollar Agent , Lessons Learned," believes 10 local real estate agents have hit the $1 billion sales mark out of just 100 to 200 nationwide.

Sales and Leases

Office space totaling 50,520 square feet at 9573-9577 Chesapeake Drive in Kearny Mesa has been sold by Chesapeake Drive LP to Providence Chesapeake LLC for $14.6 million. And other sales and leases.

$14M Pomerado Center to Provide Comprehensive Care for Women

Palomar Pomerado Health's 10,406-square-foot women's center is expected to start accepting patients in February.

The Nolen Keeps Developer One Level Up in Tough Market

Despite static in the industry, Malcolm Davies, principal of San Diego-based Davies Development & Investments Inc., expects his company will participate in four to five new projects for 2008.

Apparel Firm Runs Full Speed Ahead as Triathlon Popularity Grows

It's been 17 years since former professional triathlete Emilio De Soto sold his first clothing, 100 pairs of running shorts, out of the trunk of his car at triathlon racing events. The Cuban-born De Soto is now striving for similar success overseas.

Residential Lending Crisis Trickling Down to Commercial Real Estate

The subprime mortgage crisis, which brought San Diego's housing market to its knees, is casting a chill on the commercial office sector. Lax underwriting standards in residential real estate have sparked an across-the-board credit crunch, according to loc

Are We in a Recession or Is It Just Smoke and Mirrors?

Well, are we in a recession or not? I guess it depends on who you listen to or what publication you read.

FTC Updates Antitrust Act Notification Thresholds

The Federal Trade Commission, charged with overseeing the Hart-Scott-Rodino Antitrust Improvements Act of 1976, approved a few changes to its terms of notification Jan. 18.

Executive Profile , Steve Gustafson

Steve Gustafson, owner and president of Nautilus General Contractors, founded his business in 2002 after leaving his previous startup.

Qualcomm Powering Up With New Green, Energy-Efficient Equipment

Saving energy is a virtue when you are designing electronics for a wireless phone. Qualcomm Inc. concerns itself with conserving resources in the larger scheme of things, as well.

Optimer to Tackle Hospital Bug With New Treatment

Sorrento Valley biotechnology firm Optimer Pharmaceuticals Inc. says it has the next potential treatment for an emerging infectious disease that has crept through hospitals and nursing homes.

San Diego Golf Makers Well-Represented at 2008 PGA Show

The PGA Merchandise Show started in a Dunedin, Fla., parking lot in 1954. Today the show, held in an Orlando convention center, attracts more than 45,000 industry professionals, including the 66 San Diego companies that were present Jan. 17-19.

Clear Channel Clears Another Hurdle in Sale

San Antonio-based Clear Channel Communications is closer to its goal of selling its TV and radio properties, including those in San Diego.

Veteran Offers a Four-Way Test for Business Success

Veteran Offers a Four-Way Test for Business Success

New Rules Could Worsen Already Long Wait Times at Border Crossings

The lines at the San Ysidro and Otay Mesa border crossings could get even longer starting this week as federal customs inspectors implement tougher security measures.

Friday, January 25

Caltrans Starts Work on $600M Freeway Extension

The California Department of Transportation has begun a $600 million eastward extension of state Route 52, the San Diego Association of Governments said Jan. 24.

BBB Seeks Teens to Speak on Consumer Topics , and Traps

The San Diego Better Business Bureau invites high school juniors and seniors to speak before fellow students on the topic of being a smarter consumer. Students will be trained in February.

Overland Breaks Out of Sales Slump, Still Seeking Turnaround

Overland Storage Inc., a San Diego-based data storage systems provider, reported a net loss of $6.5 million for its second quarter ended Dec. 31, compared with a net loss of $8.9 million for the like quarter in the prior fiscal year.

Thursday, January 24

Intuit Proposes Unlikely Mix: Taxes and Comedy

The folks at Intuit Inc.'s TurboTax division in San Diego think doing your own taxes can be a joke. To garner some buzz about the company's best-selling tax preparation software, it's sponsoring a comedian competition.

Qualcomm Earns $767M, Up 18 Percent From Year Ago

Qualcomm Inc. reported late Jan. 23 that it earned $767 million during the quarter ended Dec. 30 , up 18 percent from the same quarter one year ago.

MainStreet Media Buys Pomerado Newspaper Group

Gilroy-based MainStreet Media Group LLC, which owns six weekly newspapers in the San Diego region, has acquired the Pomerado Newspaper Group from Publisher David Calvert.

Wednesday, January 23

International Stem Cell Corp. CEO Dies

Jeff Krstich, the president and chief executive officer who led Oceanside-based International Stem Cell Corp. through some major scientific breakthroughs last year, died Jan. 20 of an apparent heart attack, the company said Jan. 22.

San Diego Trust Looks Back on a Growth Year

San Diego Trust Bank reported net income of $768,000 for 2007, compared with net earnings of $1.25 million in 2006, although the prior year's profits weren't fully taxable.

SAIC Lays Off 70, Half Were in San Diego

SAIC, a San Diego-based research and engineering firm, said Jan. 23 that it laid off about 70 employees locally, in McLean, Va., and in a few other sites.

Tuesday, January 22

Covario Receives $16M in Series B Funding

Covario Inc., formerly called SEMDirector, a San Diego interactive marketing analytics firm, said Jan. 22 that it obtained a $16 million Series B investment from FTVentures.

Nassco Starts Work on Second Commercial Tanker

General Dynamics Nassco, the San Diego shipbuilding unit of GD, said construction began Jan. 22 on a second new class of commercial tanker for U.S. Shipping Partners L.P. of New Jersey.

Qualcomm, Scripps Health Share Space on Best Employers List

Qualcomm Inc. and Scripps Health have made Fortune magazine's list of the 100 Best Companies to Work For.

Monday, January 21

Week in Review

Top Business News: Jan. 11 - 17, 2008

Nassco Impresses the Brass During Admiral's Tour of Shipyards

The Navy's top admiral, barely 100 days into the job, toured the General Dynamics Nassco shipyard on Jan. 12 during a trip that took him to similar yards across the country.

Fund Investor Says Public Company Boards Should Reassess Oversight

Ralph Whitworth, principal for Del Mar's Relational Investors, a $7 billion investment fund, thinks a lot of corporate board members aren't conducting sufficient oversight, especially when it comes to his communicating to the public.

New Nonprofit Now Investing in Investigative News

New Nonprofit Now Investing in Investigative News

Sales and Leases

Cruzan | Monroe has sold 5935 Darwin Court, a 52,260-square-foot building in Carlsbad, to RF Darwin LP for $15.25 million. And other sales and leases.

CliniComp's Real-Time Data System to Aid Injured U.S. Troops

The U.S. Department of Defense has introduced CliniComp International Inc.'s clinician documentation system to a medical center in Germany that treats soldiers transferred from Iraq and Afghanistan.

Veralliance Properties Acquires Biosciences Campus for $109M

San Diego-based Veralliance Properties Inc. has begun the year in a strong position with the acquisition of the Neurocrine Biosciences Campus in Del Mar Heights for $109 million.

New Panel Systems Resist Fire and Rot

After 31 years of experience as a general contractor, David Shields drafted plans for another business. He distributes prefabricated panel systems made of unusual materials, for commercial and residential construction.

Biotech Vets Find Business Building Becomes Habit-Forming

An evolution is taking place at Sequel Pharmaceuticals, a cardiovascular drug company spun out of NovaCardia, and, once again, Chief Executive Randy Woods finds himself at the helm of change.

Organizations Large And Small Strive For Excellence

It's the lasting effects of the Baldrige award that make it so desirable.

Are Daily Newspapers, the U-T Included, Going Way of the Muscle Car?

Trade Winds: It seems unfair that a major daily with the guts to take down a congressman has downsized, downsized and downsized again in little more than a year.

Affordable Tailored Clothing Is Just a Click of the Mouse Away

Entrepreneurs Jeff Horowitz and Coley Dale believe in looking good on one's own terms at a reasonable price. The friends, both 26, launched DressMonkey.com, an online custom clothing company for men, in January 2006 after working in Shanghai for three yea

Sanyo and Kyocera Reach Terms on Mobile Phone Deal

Sanyo Electric Co. Ltd. said Jan. 21 it has struck a deal to sell its mobile phone business, including its CDMA business, to Kyocera Corp. for an estimated $375 million in cash. The deal takes effect April 1.

New Docs Choosing Highly Paid Specialties Over Family Practices

Increased costs for medical school and consequent debt have put incoming doctors in a position to choose specialties that yield traditional hours and higher pay.

Mimi's Caf & #233; Led Santee Retail Surge

Santee once lost 38 percent of its residents' taxable business to neighboring cities, but has managed to close that gap by building more retail space.

Entrepreneur Profile , Dana Korey

Starting out in the sales industry, Dana Korey became inspired to start Away With Clutter Inc. when she saw how disorganized people were.

Sharp's Push for Improvements Pays Off With Presidential Award

While some health care organizations continue to struggle both financially and organizationally, Sharp HealthCare exemplifies how a health care system, and a business, can achieve enough success to be recognized by the White House.

Qualcomm Plans Extensive Remodel of Seven-Story R & D; Building

Progress Report: Design is under way for the 18,500-square-foot remodel within Qualcomm Inc.'s seven-story research and development building in Sorrento Mesa.

Despite Winning, Bolts Face Tough Battle to Get Stadium Built

Despite all the excitement and good will that come with fielding a successful football team, the Chargers are a long way from getting a new home.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: Seaside Papery has opened a second location in Encinitas.

Correction

For the Business Journal's 2008 Book of Lists.

San Diego People

Key Hires and Promotions. Executive Spotlight , Chuck Todd.

Art of Acupuncture Affords Greg Bourque a Work-Life Balance

It's a beautiful life for acupuncturist Greg Bourque.

Executive Profile , Darren Caris

Darren Caris, chairman and chief executive officer of Caris & Co. Inc., an investment bank focused on the health care, energy, technology and consumer sectors, boasts more than 15 years in the industry.

Podcast: Preview the San Diego Business Journal

Web Editor Brad Graves provides highlights from the Jan. 21, 2008 issue of the San Diego Business Journal.

Santee Welcomes Its First Class A Office Project

With national homebuilder Lennar Corp. building million-dollar homes atop Santee in Sky Ranch, it seems fitting for the city to welcome its first Class A office development.

BBB Presents Torch Award to Rancho Bernardo Home Remodeling Firm

The Better Business Bureau presented its Torch Award, which recognizes marketplace ethics, to home remodeler Dream Design Builders in Rancho Bernardo.

Mayor Sanders Is Going to Be Tough to Beat in 2008

Mayor Sanders Is Going to Be Tough to Beat in 2008

Ethertronics Acquires Swedish Design Center

Ethertronics Inc., which specializes in antennas for wireless devices, said Jan. 21 that it acquired Flextronics' design center in Kalmar, Sweden.

Cadence Pharmaceuticals Shares Plunge Following News of Failed Trial

Shares of Cadence Pharmaceuticals Inc. fell to an all-time low Jan. 11 following news that one of the company's lead drugs failed to meet its primary endpoint in a late-stage clinical trial.

Friday, January 18

Low-Wage Job Growth Called Bad News

The Center on Policy Initiatives, a local research and policy advocacy group funded by private foundations, said Jan. 18 that the latest state unemployment report proves that the San Diego economy is creating more lower-wage retail jobs.

Jobless Rate Increases Slightly in December

San Diego County's unemployment rate for December increased by a tenth of a point to 4.9 percent, breaking a five-month holding pattern at 4.8 percent.

Thursday, January 17

Qualcomm Executives Get New Titles

Wireless technology company Qualcomm Inc. said Jan. 16 that it has promoted or reassigned some of its top executives.

Solera Rings Opening Bell

Executives with Solera Holdings Inc., a San Diego-based software firm serving the auto insurance industry, got to ring the opening bell at the New York Stock Exchange trading floor Jan. 17.

Qualcomm Declares 14-Cent Dividend

Qualcomm Inc. said Jan. 16 that it will pay a dividend of 14 cents per share, unchanged from last quarter.

Stem Cell Agency to Offer $41M in Awards

An independent oversight committee with the state's stem cell agency approved a measure Jan. 17 that will provide additional grant money to 14 young scientists pursuing stem cell research.

City Attorney Race Draws a Crowd

San Diego City Councilman Brian Maienschein, who is in his second and final term representing the 5th District that includes Carmel Valley and Rancho Bernardo, has decided to run for the city attorney's job now held by Michael Aguirre, Maienschein's offic

Wednesday, January 16

Don't Get Burned By Charger Fever, BBB Cautions

The San Diego Better Business Bureau has issued a consumer alert to Chargers football fans who want to go to Massachusetts for Sunday's game against the New England Patriots.

Charlotte's Secret: We Beat Our Earnings Forecast

Charlotte Russe Holding Inc. said Jan. 16 that same-store sales had increased 1.5 percent, and that net sales for the first quarter were $238.2 million, up from $209.2 million in the same quarter one year ago.

Former Peregrine President Pleads Guilty

Gary Lenz, a former president and chief operating officer of San Diego-based Peregrine Systems Inc., pleaded guilty to a single count of making a false material statement involving his role in an accounting fraud that led to the software company's failure

Tuesday, January 15

BAE Systems Gets $31M to Make Navy Cruiser Shipshape

BAE Systems plc, a major defense contractor in San Diego, said Jan. 15 that it was awarded a $31 million contract for ship repair and upgrades to the USS Bunker Hill, a U.S. Navy guided missile cruiser.

BenSoft's RepayMe Gets Big Buyer's Attention

Milwaukee-based Metavante Technologies Inc. plans to buy BenSoft Inc., a San Diego company employing 13 people, the companies announced Jan. 15.

Monday, January 14

Sales and Leases

Tamara DeHaan-Phelps has purchased an 851-square-foot office condominium located at 444 W. C St., Suite 350, in downtown San Diego from Columbia Court Investors LLC for $357,420. And other sales and leases.

2008 Prediction: Building and Job Growth Should Boost Local Economy

As an unqualified economist but a person who is a big observer of the economic trends in North County, I project that 2008 will be slightly better than 2007.

With Surgeries on the Rise, UCSD Medical Center Carves Out Deal

To deal with a growing number of surgeries, the UC San Diego Medical Center is partnering with an Alabama-based provider of specialty surgical services at a La Jolla facility near the UCSD campus.

Construction Begins on Callaway Golf Corporate Headquarters in Carlsbad

Progress Report: Construction is under way for the renovation of the Callaway Golf Corporate Headquarters in the Carlsbad Research Center at 2180 Rutherford Road.

Tax Preparers Thrive Symbiotically With Home-Based Software

Preparing your own tax returns for the Internal Revenue Service or the state Franchise Tax Board is like trying to change the oil in your car , "dirty, messy and inconvenient." At least, that's the opinion of John Hewitt, chief executive officer of Libert

Business Journal's Public Stock Index Declines Modest 3 Percent in 2007

Packed as it is with a preponderance of smaller companies, the San Diego Business Journal Index of 91 public companies didn't fare too badly last year, sustaining a 3 percent decline in 2007.

Francis to Make Mayoral Bid Official

Businessman Steve Francis will announce his formal candidacy for mayor of San Diego on Jan. 15, according to a Jan. 14 press statement.

Torrey Pines Par for the Course for U.S. Open

With the U.S. Open slated to begin at Torrey Pines Golf Course in La Jolla five months from now, Jay Rains is giving himself a reality check.

San Diego People

Key Hires and Promotions. Executive Spotlight: B. Lynne Parshall.

Making a Strong Case for Governance of Nonprofits

Making a Strong Case for Governance of Nonprofits

Port OKs New Cruise Terminal, Two Hotels on the Embarcadero

It's taken about a decade, but the first steps in a plan to renovate San Diego's downtown waterfront are happening. Last week, the San Diego Unified Port District approved two projects at the epicenter of the city's Embarcadero.

IRS Making More Digital Connections as E-Filing Catches On

Taxpayers are becoming more willing to beam their tax returns to the IRS electronically. Just ask the post office.

Week in Review

Top Business News: Jan. 4 - 10, 2008.

Labor Pact Helps the Few at the Expense of the Many

Labor Pact Helps the Few at the Expense of the Many

Regional Roundup

Leading off this week's compilation of news from around San Diego County: Stone Brewing Co. announced plans Dec. 28 to add a 50,000-square-foot building to its campus, bringing its total to more than 100,000 square feet.

Entrepreneur Profile , Oscar Tejedo

Starting from scratch, Oscar Tejedo and his wife, Rosa, have turned their nine-person business into a $750,000 a year enterprise.

Picture This: TV Uses Organic Light Emitting Diode Technology

Three millimeters is the depth of three credit cards stacked together in a wallet. It is also the depth of a flat-screen TV that Sony Electronics Inc. showed off last week at the 2008 International CES, also known as the Consumer Electronics Show, in Las

Pfizer Expanding Incubator Concept to Bay Area, Boston

Almost six months after Pfizer Inc. announced the first occupant of its La Jolla incubator, the pharmaceutical giant welcomed two new occupants and said last week that it will expand the program into the Bay Area and Boston.

Correction

For Jan. 7, 2008

NYCA Ad Agency Scores Another Hole-in-One

If a plum international client win by independent advertising agency NYCA is any indication, small is better. NYCA, an Encinitas-based firm owned by Michael Mark, announced Jan. 3 that it has landed the adidas Golf account.

$23.5M Mixed-Use Project to Help Diamond Neighborhood Shine

Construction is nearly complete on a highly anticipated mixed-use project in southeast San Diego.

Big Top Rises at Del Mar Fairgrounds for Cirque's Latest Acts

The Cirque du Soleil likes San Diego. One reason is strong ticket sales, according to Heather Riley, general manager for Cirque du Soleil's Corteo.

Hooray for Hollywood's Ability to Keep $9.7B Movie Biz Rolling

It's that time of year when movie critics feel compelled to list their 10 favorites for the recent year, many of which I haven't seen and some I'd not heard of before.

Equity Group Purchases, Merges Publishers Covering Endurance Sports

A New York-based private equity firm, Falconhead Capital LLC, said last week that it has acquired three local companies engaged in "endurance" sporting events and publishing and combined them to form one company, Competitor Group Inc., based in San Diego.

Executive Profile , George Dewhurst

GDC Construction Inc. President George Dewhurst's family has been in the San Diego construction business for generations, starting when his great-grandfather settled in La Jolla in 1929.

Proposed National City Bank Said to Be Close to Regulatory OK

A new bank being organized in National City may be close to getting its charter approved, allowing it to begin raising capital.

Median Prices for North County Homes Continue to Drop, Realtors Report

The year-end results are in and median sales prices for homes are down way down.

Neurocrine Biosciences Chief Resigns

On the heels of a decision to lay off 130 employees as part of a major restructuring effort, Neurocrine Biosciences Inc. said Jan. 14 that Chief Executive and President Gary Lyons resigned and will be replaced by Chief Operating Officer Kevin Gorman.

International Community Foundation Gifted Home, $4M Endowment

The International Community Foundation was gifted the home of John and Christy Walton in National City, where ICF will establish a center for cross-border philanthropy.

Friday, January 11

Qualcomm Stadium GM Feels the Pull of New Jersey

Erik Stover, general manager for Qualcomm Stadium, is resigning from his job effective at the end of February to take the same job at Red Bull Park, a soccer-only stadium under construction in Harrison, N.J., he said Jan. 11.

Salk Institute to Get $10M for Life Sciences Program

French pharmaceutical company Ipsen will pay the Salk Institute for Biological Studies $10 million in the next three to five years to support key research initiatives that could boost the drug company's pipeline.

Thursday, January 10

WD-40 Grows Sales and Earnings, But Shares Decline

Shares in WD-40 Co. traded lower on Jan. 10 in the wake of the company's earnings news the previous evening.

With $20M Expansion, Legoland Works to Beat 2007 Attendance

Legoland California Dec. 10 reported attendance of 1.6 million for 2007, which was flat with 2006, a record year.

San Diego Navy Office Goes to Sweden for Wind Power Project

The Marines are erecting the first large-scale wind turbine at its logistics base in Barstow, said the San Diego-based Navy unit that oversees design and construction of public works projects on Jan. 8.

Z57 and Homescape Join Forces

Z57 Inc., a San Diego-based Internet marketing firm working mainly with real estate brokerages, said Jan. 9 it has struck a partnership with property listings firm Homescape to boost the listings of its agents and brokers.

Illumina Shares Rise After Settlement

Shares of Illumina Inc. closed nearly 16 percent higher on Jan. 10, following a pre-dawn announcement that the company had settled its patent dispute with Santa Clara-based Affymetrix Inc.

Transportation Security Conference Set for Jan. 17

The Security Network presents the Regional Intermodal Transportation Security Conference Jan. 17.

Wednesday, January 9

Sempra Considers Major Construction on Gulf of Mexico

Sempra Energy, the San Diego-based energy services corporation, said Jan. 9 it is proposing the construction of a marine petroleum terminal and storage facility at Port Arthur, Texas.

Wyndham Opens Third Time-Share Resort in San Diego

Orlando, Fla.-based Wyndham Vacation Ownership, a Wyndham Worldwide company, this month announced the opening of the 167-unit WorldMark Mission Valley, its third time-share resort in San Diego.

Attention, Hot Dog Hawkers: Petco Park Sets Job Fair

The San Diego Padres are hosting two job fairs to fill jobs at Petco Park this season. The final job fair is on Tuesday, Jan. 15, from 3 to 7 p.m.

Tuesday, January 8

City Hall Has New CFO

Mayor Jerry Sanders named two new executives to his management team Jan. 7. Mary Lewis takes over as the city's chief financial officer, and Elmer Heap was appointed to deputy chief operating officer.

SAIC Pact Worth a Potential $46M

SAIC, also known as Science Applications International Corp., said Jan. 8 that it received a NASA contract potentially worth $46 million over five years.

American Technology Trims Loss, Avoids Delisting

American Technology Corp., a San Diego provider of directed sound products, reported Jan. 8 that it had a net loss of $5.6 million on revenue of $9.9 million for its 2007 fiscal year, which ended Sept. 30.

Isis Stock Rises in Wake of Cholesterol Drug Announcement

Carlsbad-based Isis Pharmaceuticals Inc. and Genzyme Corp. announced a major partnership Jan. 7 that will give Genzyme rights to develop and commercialize Isis' cholesterol drug mipomersen.

Monday, January 7

Executive Profile , Bob Cerasoli and Mike Stafford

A talk with Bob Cerasoli and Mike Stafford, principals of CerasoliStafford Media Management.

San Diego People

Key Hires and Promotions. Executive Spotlight: Timm Timbrook.

Mitchell International's CFO Eases Into Chief Executive's Chair

The changing at the top for some companies can be tricky, but for Mitchell International, the longtime San Diego software firm, the transition that began two years ago takes hold.

Shower in Signature Suite at US Grant No Ordinary Utilitarian Item

One of the more decadent features offered by San Diego's newest lineup of not-your-mother's hotels , the Keating, the Ivy and the Hard Rock , is see-through bathrooms and shower stalls.

For the Chargers, It Could Be 4th Down and Two Stadium Sites to Go

The San Diego Chargers made some progress last year in their quest to find a site for a state-of-the-art football stadium, narrowing their search to two sites in Chula Vista.

Business Group Rallies for Lane Field Project

A group called the Build the Bayfront Coalition rallied behind the proposed Lane Field development project during a news conference Jan. 7.

Students Learn to Navigate the Business Aspects of Aviation

Andy Vonstauffenberg was working as a chef in Austria when he decided six years ago to switch gears, immigrate to the United States and, eventually, join the Navy. Now, the 25-year-old San Diegan is again reinventing himself.

California Collection Office Condo Project Ready to Get Under Way

Progress Report: Ground has been broken on the California Collection at Eastlake. The project consists of office condominiums ranging in size from 800 square feet to 2,000 square feet.

Interim President Says 'Thanks, But No Thanks' to Permanent Job

Discovery Bancorp Interim President Joe Carona has the experience but no interest in the vacant chief executive position created when former CEO Jim Kelley abruptly resigned in early December.

Sales and Leases

Agate & Wilbur LLC has purchased the 10-unit Cardinal Apartments, located at 935 Agate St. in Pacific Beach, from U.S. Bank, Trustee for $1.85 million. And other sales and leases.

Qualcomm Honored for Contributions to Arts Education in the Schools

Qualcomm Inc. was named to the BCA Ten: Best Companies Supporting the Arts in America, sponsored by the Business Committee for the Arts and Forbes Magazine.

Uprooted Phoenix Biotech Firm to Call Carlsbad Home

Ribomed Biotechnologies Inc., a privately held Phoenix firm that, for the past five years, has operated under U.S. government contracts to develop tests capable of detecting harmful substances in the environment and food supply, is returning to its roots.

New Year's Eve: Party and Spend at Hotels

Recession? What recession? If Rip Van Winkle had awakened to all the revelry conducted in San Diego on New Year's Eve, he wouldn't have had a clue that hard times may be looming on the economic forefront.

Regional Roundup

Leading off this week's compilation of news from around San Diego County: The city of San Marcos has teamed up with Palomar College to sponsor a Community Emergency Response Team program, offering training in basic disaster response skills.

Nonprofit Profile , Lyric Opera San Diego

A talk with Leon Natker, general director of Lyric Opera San Diego.

Cutting Down on the Lust, Raising the Caution Flag

Cutting Down on the Lust, Raising the Caution Flag

Visitors to Spend More Than $8 Billion Here in '08, ConVis Predicts

The forecast for tourism this year by the San Diego Convention & Visitors Bureau, the agency charged with telling the county's story to the traveling public, is a mixed bag.

Ad, Marketing Agencies Seek Creative Ways to Stretch Tightening Budgets

Despite recession fears, sources in local advertising and marketing industries expect that clients' budgets will remain flat this year compared to last. However, caution is the byword.

Despite Growth, Finding Skilled Workers a Challenge for Tech Industry

Companies on the forefront of technology generally invest during downturns in the market because when the upturns come they can seize the opportunities. At least that's Ed Brown's M.O. Brown is president of San Diego-based Cymer Inc.

Pace of Construction to Slow, But Downtown Developers Stay Busy

Despite some uncertainty about the economy, life is not coming to a standstill in downtown San Diego. "Developers are still going through the pipeline to get their approvals and entitlements," said Nancy Graham of the Centre City Development Corp.

Week in Review

Top Business News: Dec. 27, 2007 - Jan. 3, 2008

Local Banks Keep in Check With Economy, Forge Ahead for 2008

For Greg Garrabrants, chief executive officer of San Diego-based Bank of Internet USA, now is a good time to be selective with assets.

ResMed Installs New President and CEO, Kiernan Gallahue

ResMed Inc., a Poway-based maker of devices that help people who have sleep disorders, welcomed Kiernan Gallahue as the company's new president and chief executive Jan. 1.

Vistage Celebrates 50 Years of Helping CEOs

San Diego-based Vistage, which recently celebrated its 50th anniversary, has become the world's leading chief executive organization.

Hot Air Blowing Around Lindbergh Field Plan Update

Hot Air Blowing Around Lindbergh Field Plan Update

Juan Necochea Demonstrates the Power of Higher Education

Jorge L. Hirmas was earning a six-figure salary at Unisys Corp. when he decided to take early retirement and become a teacher. His inspiration: Juan Necochea, a professor at Cal State San Marcos' College of Education.

Friday, January 4

Mad Catz Looks to Rock Video Game Players' Worlds

Mad Catz Interactive Inc. has entered into a multiyear license with Cambridge, Mass.-based Harmonix Music Systems and the MTV Networks division of Viacom International to produce peripherals for the "Rock Band" video game.

Illumina Sheds Light on Its Major Changes

Illumina Inc., a maker of tools and services for genetic research, announced plans Jan. 4 to create two new divisions as part of the company's continued growth efforts.

Impulse Has New Corporate Parent, New Name

Teledyne Technologies Inc., a $1.5 billion electronic components company based in Thousand Oaks, said Jan. 2 that it completed the acquisition of San Diego-based Impulse Enterprise Instruments.

Thursday, January 3

Retiring Scripps Researcher Joins World of Venture Capital

Richard Ulevitch, a prominent researcher who led The Scripps Research Institute's immunology department for 13 years, said Jan. 3 he will retire to join Menlo Park venture capital firm 5AM Ventures.

County Pension Fund Gets AAA Rating

The pension fund for some 35,000 current, retired and former workers for San Diego County received an AAA credit rating from Standard & Poor's Ratings Services, the fund announced Jan. 3.

NextWave Wireless Grows, Organizes Two Business Units

NextWave Wireless Inc., a San Diego-based maker of semiconductors and software for mobile devices and networks, said Jan. 3 it is splitting into two business units.

Active Network Branches Out With Two Acquisitions

The Active Network Inc. said Jan. 3 that it has acquired RegOnline and WingateWeb, two companies specializing in software for meetings and events registration.

Wednesday, January 2

ResMed Gets New Chief Executive

ResMed Inc., a Poway-based maker of devices that help people who have sleep disorders, welcomed Kiernan Gallahue as the company's new president and chief executive Jan. 1.

Horatio Alger Award Going to Bob Beyster

SAIC founder Bob Beyster is in line to receive the Horatio Alger Award.

Kratos Buys Defense Contractor for $90M

Kratos Defense and Security Solutions Inc., formerly called Wireless Facilities Inc., said Jan. 2 that it completed a $90 million acquisition of Haverstick Consulting Inc., a defense contractor based in Indianapolis.

Facing Injunction, Qualcomm Unveils New Chips

Qualcomm Inc. said on Jan. 2 that it has put out four new models of mobile phone chips, designed to comply with an injunction issued by a federal judge on Dec. 31.

Willis Allen Moves Into Santaluz

Willis Allen Real Estate said Jan. 2 that it has opened its eighth office, in Santaluz.