Stories for July 2009

Friday, July 31

Pentagon Spent $14.7B Locally in 2007

Fast-growing military spending has countered the recession's pull on San Diego County, says a study released July 28 by a local think tank.

La Jolla Pharmaceutical Puts Lawsuit and Business Behind It

San Diego drugmaker La Jolla Pharmaceutical said it will officially wind down operations following the failure of its experimental lupus drug, according to a July 30 regulatory filing.

Sempra Energy Sees Profits, Revenues Decline

Sempra Energy said July 31 that it had second-quarter earnings of $198 million on revenue of $1.7 billion. During the second quarter of 2008, the utility and energy services corporation reported earnings of $244 million on revenue of $2.5 billion.

Temecula Valley Bancorp to Seek Bankruptcy Protection

Temecula Valley Bancorp plans to enter Chapter 7 bankruptcy on Aug. 18 following the seizure and sale of its assets this month by regulators from the Federal Deposit Insurance Corp., according to a July 31 regulatory filing.

Thursday, July 30

Lindbergh Spreads Word on Facebook, Twitter

The agency that operates Lindbergh Field is reaching out to more folks via two of the most popular social media sites, Facebook and Twitter, to let them know all about what the nation's busiest single-runway airport is up to.

DJO Reports Net Loss; Sales Called Good

DJO Inc., the Vista maker of prosthetic devices, reported July 30 a net loss of $13.1 million on revenue of $235.1 million for the second quarter.

Wednesday, July 29

Revenue, Net Income Stay Flat at Realty Income

Realty Income, an Escondido-based real estate investment trust, reported July 29 that revenue declined to $81.6 million for the second quarter ending June 30 from $82.1 million in the same quarter a year ago.

Sandag Sets to Work Designing Road, Bus, Rail Projects

The board of the San Diego Association of Governments, the regional planning agency, said July 29 that it set aside $70 million to begin design work on three major infrastructure projects.

Regulators Charge Investment Funds With Securities Fraud

The Securities and Exchange Commission charged two San Diego men and a Mexican national along with the four businesses they controlled with securities fraud and operating a Ponzi scheme.

Bay Area Corporation Buys TorreyPines Therapeutics

Novato-based Raptor Pharmaceuticals has agreed to buy failing drugmaker TorreyPines Therapeutics, which announced it would liquidate in May after weighing alternatives.

Tuesday, July 28

USD Index on the Upswing

For a third consecutive month an index measuring San Diego's economy increased in June, suggesting the region is nearing a bottom of the recession.

Qualcomm, Verizon in Joint Venture

Qualcomm and Verizon Wireless formed a new joint venture that will act as a standalone company to provide wireless "machine-to-machine" communications and smart services across multiple market segments, including health care, manufacturing, utilities, dis

Monday, July 27

The Big Push At Pendleton

Maj. Gen. Michael Lehnert heads through the main gate at Marine Corps Base Camp Pendleton and points out the sign for San Diego-based Soltek Pacific Construction. Like many other places on the 125,000-acre base, the main gate is a construction zone.

San Diego People

Key hires and promotions. Executive Spotlight: Michelle Danks

Theme Parks Raise General Admission But Thrill Guests With Promotions

Although local theme parks have raised their admission prices at the gate and their guest counts are expected to be on par with last year, they're not likely to rake in any more dough.

Real Estate Roundup

Leading off this week's real estate news from around the county: Voit Real Estate Services said sales activity in the local office market has substantially increased in the second quarter of 2009.

Sempra Energy Gives $200K to Assist 38 Graduating Seniors

Sempra Energy has awarded $200,000 in scholarship money to 38 high school seniors to continue their education.

X (Games) Marks the Spot for Loop'd Network-ESPN Deal

Loop'd Network, an online community for action sports, announced July 20 a deal with ESPN's X Games to launch the official online community for ESPN X Games 15.

Qualcomm Profit, Revenue Drop

Coming off a dismal quarter, Qualcomm on July 22 posted earnings just under 2008 levels for the quarter ending June 28, and said that the chipset market appeared to have stabilized.

We Must Beware of China Buying U.S. Assets

As the president and founder of an international financial consulting company that works closely with Chinese companies seeking to go public on U.S. stock market exchanges, I see the enormity of China's global financial influence and power on a daily basi

Mayor Makes Interim Airport Job Permanent

Bob Watkins, who had been acting chairman of the San Diego County Regional Airport Authority, was appointed to the job permanently by Mayor Jerry Sanders in a letter to the agency dated July 27.

Bank's Profit Called in Line With Expectations

First PacTrust Bancorp, parent of Pacific Trust Bank in Chula Vista, reported net income of $685,000 for the second quarter, compared to a net loss of $1.8 million for the like quarter of 2008, the company said July 27.

Entrepreneur's Second Foray Into IT Focuses on Security

After selling his tech startup in 2004, Allan Camaisa figured he could kick back and enjoy life, maybe doing more golfing at his second home in Hawaii.

Sacramento Is Turning in a Widening Gyre

Well, we have a tentative budget in Sacramento for the next fiscal year.

Anchors Aweigh for Local Talk Show Host

From shore to ship! Talking head Mark Larson, morning host at KCBQ 1170, is making a return trip to the Middle East for one week starting Aug. 17.

Sales and Leases

Convoy Ronson Plaza and Industrial Park, a 104,213-square-foot, mixed-use space, has been sold for $12.25 million.

TelCentris Enters Ring of Inexpensive Telecom Services

To observers, TelCentris may appear to have a split personality.

Japanese Regulators Raise Questions About Qualcomm

Just days after being hit with a record $208 million fine by South Korean regulators for alleged unfair business practices, Qualcomm on July 27 confirmed that Japanese regulators also plan to issue an order against the wireless chipset maker.

Restaurant Group, NBC Married to Promotional Idea

NBC San Diego and Cohn Restaurant Group have taken a page out of "Today Throws a Wedding" with "NBC 7/39 Throws a Wedding at The Prado Contest" , a promotion that offers a local couple a chance to tie the knot at one of the city's most popular wedding spo

First Citizens Buys Up Bank Brought Down By Problem Loans

The failures of Temecula Valley Bank and Vineyard Bank in Corona on July 17 were hardly a surprise.

Jobless Rate Could Worsen Before Improving

San Diego's job picture continued to look bleak as it moved into double digit territory last month, generating conflicting opinions as to when the local economy would turn around.

News In Brief

Top business news from around the county.

New SBA Program Could Increase Available Credit Line

The U.S. deficit has now reached the $l trillion mark and is not stabilizing.

Market for Industrial Space Continues to Downsize Countywide

The outlook is for more gloom on the county's industrial real estate forefront, but not doom, says Dennis Visser, industrial specialist and principal of Grubb & Ellis/BRE Commercial.

Fans' Hopes of Seeing Chargers Train Go Down the Drain

Now that the San Diego Padres' season is unofficially over (gee, that didn't take long), and the only question is whether they'll put more of their depleted personnel on the trading block, most of the city's sports focus is on the San Diego Chargers.

Friday, July 24

Car Dealers Report Sales Down 43 Percent

Sales of new cars and pickup trucks plummeted 42.9 percent in the second quarter of 2009 versus the same timeframe last year, according to the California New Car Dealers Association.

Orexigen Raises $71M in Stock Sale

Weight loss drugmaker Orexigen Therapeutics has raised $70.9 million through the sale of 10 million shares of common stock, it said July 23.

South Korea Fines Qualcomm

The Korea Fair Trade Commission has levied a $208 million fine against Qualcomm.

For 7-Eleven, Now's the Time to Expand

Convenience store giant 7-Eleven announced July 24 that it plans an aggressive expansion push throughout Southern California that calls for 100 new stores within the next three years.

Thursday, July 23

Net Loss Persists, Assets Grow at California Community Bank

California Community Bank, based in Escondido and with four branches, reported July 23 a net loss of $88,000 for the second quarter, compared to a net loss of $139,000 in the like quarter of 2008.

Man Pleads Guilty in Internet Piracy Case

A San Marcos man pleaded guilty to violating copyright law July 22 in a Los Angeles federal court for uploading a pirated copy of "Slumdog Millionaire" late last year, according to federal prosecutors.

Cymer Beats Analyst Expectations

Cymer, the maker of laser equipment used in the manufacture of computer chips, reported July 22 net income of $500,000 for the second quarter.

Wednesday, July 22

Quarterly Net Income Dips Slightly at Charlotte Russe

Charlotte Russe Holding Inc., the San Diego young women's retail chain, reported July 21 net income of $6.25 million for its third quarter ended June 30, compared to net income of $6.57 million for the like quarter of 2008.

Qualcomm Profit, Revenue Drop

Coming off a dismal quarter, Qualcomm on July 22 posted earnings and revenues just under 2008 levels for the quarter ending June 28, and said that the chipset market appeared to have stabilized.

Lack of Progress on Broadway Project Disappoints Admiral

Rear Adm. Len Hering, commander of Navy shore facilities in California and five other states, will retire this year with successes, but a key regret as well.

Firm on a Mission to Track Army Emissions

Carlsbad-based Enviance said the U.S. Army has deployed its greenhouse gas reporting and management system to 12 bases nationwide.

Tuesday, July 21

PacWest Bancorp Reports Quarterly Loss of $5.7M

PacWest Bancorp, parent of San Diego-based Pacific Western Bank, reported a net loss for the second quarter of $5.7 million, compared to a net profit of $1.4 million for the first quarter.

San Diego Trust Sees Profits Decline

San Diego Trust Bank reported July 21 net income of $141,000 for the second quarter, down from $150,000 in net income for the same quarter of 2008.

Monday, July 20

Banks Tell State to Keep Its IOUs; Credit Unions Rejoice

As if the banking industry wasn't dealing with enough bad news, it's getting even more negative publicity as a result of most banks not accepting IOUs the state has been handing out in lieu of checks, due to Sacramento's inability to pass a budget.

Web Site Lets Visitors Compare Closing Costs in Home Sales

From home inspections fees to title insurance, closing costs can pile up. Depending on the market, they can reach from 2 percent to 7 percent of the sale price of a home.

Researchers Putting Medicine Under the Microscope

Decades of thoughtful, painstaking research has produced innovative new ideas in treating or preventing illnesses like diabetes, HIV/AIDS and heart disease.

Scripps Designs Hospital to Heal the Soul as Well as the Body

Any resemblance between the Scripps Memorial Hospital Encinitas expansion project and a fashionable resort hotel is strictly by design.

Nonprofit Profile - Urban Corps of San Diego County

A conversation with Sam Duran, CEO of Urban Corps of San Diego County

Comic-Con Generates $42M for Economy

Celebrating its 40th year, Comic-Con returns July 22-26 to the San Diego Convention Center, infecting San Diegans with its alternate reality of superheroes, Japanese manga, Hollywood stars, TV moguls and video game publishers.

Benechill Collects $13.5M in Funding

Benechill, a privately held San Diego medical device company, said July 20 it obtained $13.5 million in Series C financing, led by new investor HealthCap of Stockholm.

Regional Bankers Avoiding New, Controversial SBA Loans

Local lenders are shunning a much ballyhooed federal loan program aimed at helping small businesses pay off delinquent debt.

Regulators Seize, Sell Temecula Valley Bank

Temecula Valley Bank's 11 offices opened July 20 under the new ownership of First Citizens Bank, based in Raleigh, N.C. and with $17.2 billion in assets, following the seizure and subsequent sale of the bank after the close of business July 17.

New Zoning Rules Needed to 'Age in Place'

San Diegans are getting older, much older.

Longtime Vision for Pedestrian-Friendly Waterfront Closer to Reality

More than a decade after four government agencies got together to plan what San Diego's waterfront should look like, work on the first phase is nigh.

National Mortgage Lender Moving to Sabre Springs

The area housing market is still far from stable, but one mortgage lender says there's enough potential locally to expand operations.

Real Estate Roundup

Leading off this week's real estate news from around the county: UrbanWest said July 9 that construction on the two-story, 20,000-square-foot Bressi Ranch Medical Plaza in Carlsbad is complete and 90 percent of the space has been sold.

Sales and Leases

LJ Balboa purchased the 6,600-square-foot free-standing bank building at 4493 Ruffin Road in Serra Mesa.

Judge Orders Seals off the Beach

A Superior Court judge told the city of San Diego to kick the seals from the Children's Pool in La Jolla.

Scripps Hospital Encinitas Culls Its Design From the Sea

Since the 1950s, the architectural firm of Perkins + Will has completed 500 hospital design projects in the United States and overseas, including work for Baylor University Medical Center, Ronald Reagan UCLA Medical Center, and Mayo Clinic.

U-T Owner Eyeing BusinessWeek Purchase?

Tough times in New York City with a local connection? McGraw-Hill has apparently hired Evercore Partners, a boutique investment bank, to possibly sell its 80-year-old BusinessWeek title.

New Taxpayers, Not New Taxes, What's Needed

New taxpayers, not new taxes, will pull California and the rest of the country out of this recession.

News In Brief

Top business news from around the county.

Booz Allen Hamilton Wins $67M Navy Contract

The U.S. Navy has awarded a five-year, $67 million prime contract to military consulting firm Booz Allen Hamilton, which will support a program that helps foreign allies purchase U.S. military equipment, the firm said July 15.

International Clientele Gets in Line for Software as a Service

Service-now.com, an information technology support company in Solana Beach, more than doubled its recurring revenue in the fiscal year ending June 30, to $28 million.

Exxon Mobil Pumping $300 Million Into Biofuel Research

Another big deal in biofuels brought San Diego's research into the spotlight last week, when oil giant Exxon Mobil agreed to fund Synthetic Genomics with $300 million as the businesses seek ways of harnessing the power of algae for renewable gasoline.

$1B-Plus Desalination Plant Proposed for Camp Pendleton

Regional leaders continue their push to make North San Diego County into desalination central.

SEC Says Qualcomm Exec Acted on Insider Information

A former executive at Qualcomm Inc. was charged by the Securities and Exchange Commission July 20 of insider stock trading.

Executive Profile - Dan Khabie

Dan Khabie is CEO of Digitaria, a digital marketing and technology business based in downtown San Diego.

Sentek Gets Piece of Booz Allen's $67M Contract

On the heels of winning a five-year, $67 million U.S. Navy Spawar contract, Booz Allen Hamilton tapped San Diego-based Sentek Consulting on July 17 as a subcontractor on a program to help foreign allies purchase U.S. military equipment.

County Office Rents Drop as Vacancy Rates Rise

If there was ever a good news, bad news scenario, the county office market is just that.

First Business Bank Swallows 1st Pacific in Whale of a Catch

First Business Bank has agreed to purchase 1st Pacific Bank of California, a lender four times its size, in a deal first revealed to the employees of both institutions on July 16.

Hospital Readmissions Fare Well

Patients discharged from area hospitals after experiencing heart attack, heart failure or pneumonia returned at rates consistent with the rest of the nation, according to new data published by the Centers for Medicare & Medicaid Services.

San Diego People

Key hires and promotions. Executive Spotlight: Emily Einhorn

Time Warner Clothing Drive Benefits Alpha Project Trainees

Time Warner Cable is conducting its ninth annual Clothes 4 A Cause business clothing drive until the end of July.

Pathway Genomics Jumps Into Competitive Genetic Testing Business

Dozens of DNA testing companies have banked millions on the idea that consumers want to know more about their individual genetic makeup.

Friday, July 17

Jobless Rate Tops 10 Percent

San Diego's unemployment rate broke into double digits in June, rising to 10.1 percent from May's adjusted 9.6 percent, making it the highest ever since the state's Employment Development Department changed the way it calculates data, the department state

Hotel Veteran Joe Terzi Named to Chief ConVis Post

Hotel industry veteran Joe Terzi, who has been serving as interim president and CEO of the San Diego Convention & Visitors Bureau, the county's tourism marketing arm, is no longer a stand-in.

Thursday, July 16

Stimulus Funds Flow to Law Enforcement

Some $8.7 million in federal stimulus funds will go to three California communities to help fight crime and drug trafficking along the U.S.-Mexican border.

Philips to Spend $12.75M on InnerCool

Dutch giant Royal Philips, which invests in various medical technologies besides lighting and electronics, has agreed to buy InnerCool Therapies in a deal worth $12.75 million, the companies said July 15.

More Positive Signs for the San Diego Housing Market

The housing market is showing consistent, albeit gradual signs of recovery as median home prices and home sales rose in June, La Jolla-based MDA DataQuick reported July 15.

Wednesday, July 15

Booz Allen Wins $67M Navy Contract

The U.S. Navy has awarded a five-year, $67 million prime contract to military consulting firm Booz Allen Hamilton, which will support a program that helps foreign allies purchase U.S. military equipment, the firm said July 15.

Rugby Tournament Leaves for Las Vegas

USA Sevens LLC, the owners of the USA Sevens Rugby Tournament that was held in Petco Park the last three years, decided to move the tournament to Las Vegas starting in February, citing a better business deal.

Northrop Gets $276M Electronics Deal

Northrop Grumman said July 14 that it received a $276 million U.S. Air Force deal to put communications electronics on the battlefield.

Tuesday, July 14

ExxonMobil Pours Hundreds of Millions Into Biofuels Company

Synthetic Genomics, led by genomic research pioneer J. Craig Venter, has forged a multimillion-dollar deal with ExxonMobil's research division to develop the next generation of biofuels.

Monday, July 13

Real Estate Roundup

Leading off this week's real estate news from around the county: A community room at the Old Grove Apartments in Oceanside, where children and adults brush up on a variety of skills, is scheduled to be renamed the Bank of America Learning Center during a

Construction Along Border Attracting Manufacturers

Though drug cartel killings make the headlines, slowly and surely, construction along the U.S.-Mexico border is fostering a new wave of commercial expansion in the area.

Businesses Paying Attention to Their Online Reputations

If there's a silver lining to the emergence of social media, it's that individual consumers have a little more leverage against corporate America.

Persistence Pays Off for Commercial Lease Negotiator

Since commercial tenants usually consider their lease a valuable business asset, they also value the relationship they have with their landlord.

Protecting Yourself Against Other Madoffs

In a year of dramatic developments in the financial world, few things have unsettled investors more than the alleged $50 billion Ponzi scheme orchestrated by Bernie Madoff.

Executive Profile - Tracy Clark

Tracy Clark is senior vice president of Voit Real Estate Services.

Family Culture, Use Of Technology Help Realtor Thrive

Windermere Exclusive Properties President Steve Rodgers has built a reputation on finding opportunities in tough times.

Embarcadero Bank Capitalizing on Executives' Strategies

As a bevy of banks struggle to boost capital levels to bolster reserves under pressure from increased problem loans, they may dream of enjoying the unique position of San Diego's Embarcadero Bank.

Real Estate Sales & Leases

San Diego-based Pinnacle Hotels USA purchased the 12-story, 292-room Marriott Riverside for $19.3 million, or $66,000 per room, from Sunstone Hotels.

Victory Pharma Sale Is Off, Potential Buyer Says

Japanese pharmaceutical company Shionogi has scrapped its plans to buy Victory Pharmaceuticals, a privately held San Diego company specializing in pain treatments.

Some Cities See New Developments on Horizon

Most North County cities have completed their new fiscal year budgets with abounding cuts and reductions.

San Diego People

Key hires and promotions. Executive Spotlight: Martha Knutson

Autos Will Continue to Roll Through Marine Terminal

Pasha Automotive Services recently announced a three-year contract to import a combined 50,000 Hyundai and Kia cars annually.

News In Brief

Top business news from around the county.

GA to Demonstrate Electric Drive for Navy Ships

General Atomics received a $32.7 million Navy contract to develop a proof-of-concept hybrid electric drive system for Navy ships.

Tomlinsons Help PPH Foundation Win Big at Annual Gala

LaDainian and Torsha Tomlinson hosted the second annual Night of Nights Gala, presented by the Palomar Pomerado Health Foundation at Hyatt Regency La Jolla at Aventine on June 13.

Workers Lose Thousands of Hours Looking for Missing Data

It seems to happen so effortlessly. The e-mail inbox fills with read messages, while desk trays overflow with old memos. Workers feel too overwhelmed to take on another project.

News Media Needed to Ensure Democracy

More than 30 years ago, while commercial broadcasting was still enjoying a near oligopoly market share, the Nixon administration proposed , and Congress enacted , the first federal funding bill to support development of what we now know as public broadcas

Coronado First Bank Achieves Profit

Coronado First Bank reported net profit of $38,000 in the second quarter, its first ever for the bank that opened in 2005. For the six-month period, the bank reported a net loss of $111,000, the bank said July 13.

$1B Airport Project Under Way

The agency that operates Lindbergh Field launched its own stimulus plan with $1 billion in capital improvements to its far western terminal, a project that broke ground last week.

Franchisees Also Serve As eBay Middlemen

Kurt Kanish sells items on eBay for his customers, then cuts his customers a check , minus a 30 percent commission. He says he's able to generate $35,000 in sales per month.

Summertime, and Enrollment Is Soaring

Sign of the (troubled) times? Grossmont College reports that it has set a 48-year record for enrollment this summer.

Getting the Green Light

The recession has taken a toll on nearly every enterprise, but those involved in infrastructure projects may be faring a bit better than most.

Nonprofit Profile - Century Club of San Diego

A conversation with Tom Wilson, executive director, Century Club of San Diego.

Startups Separate Wheat from The Chaff to Lure Customers

Hasbro's Play-Doh has been a staple of childhoods for 50 years. Yet some parents prefer not to use it because it contains wheat gluten.

Friday, July 10

Three Indicted in Real Estate Scheme

Three San Diego men were charged in a 29-count federal indictment with conspiracy, mail fraud, wire fraud and bank fraud in connection with a real estate-related scheme that bilked investors of about $30 million, according to the U.S. attorney's office in

Thursday, July 9

Intellikine Raises $51M in Cancer Drug Quest

Intellikine, a privately held La Jolla-based biotech startup with plans for a new cancer drug, said July 8 it has raised $51 million in a preferred stock sale that attracted some well-known names in the drug industry.

With Sales Down 16 Percent, WD-40 Still Profitable

WD-40 reported net income of $6.9 million for its third quarter that ended May 31, down about 15 percent from the like quarter of 2008, it announced July 8.

$1.6M Grant Targets School Bus Emissions

The Environmental Protection Agency on July 8 awarded a $1.56 million grant to the San Diego County Air Pollution Control District towards lowering emissions of school buses.

Wednesday, July 8

Submarina Gets More Dough, Plans 20 New Stores

Submarina California Subs, based in San Marcos and with 65 units, said it recently received a "significant investment" from Kerensa Investment Fund 1 to continue its rapid expansion plan.

Spawar Official, Five Others Charged in Bribery Scheme

A senior official at San Diego's Space and Naval Warfare Systems Command, his wife, and four other people were charged with corruption and fraud in a 25-count indictment handed up by a federal grand jury and unsealed July 7.

Somaxon Raises $6M, Awaits FDA Ruling

San Diego-based specialty pharmaceutical company Somaxon Pharmaceuticals said July 7 it entered into a $6 million private placement deal that will help it fund operations as it awaits FDA approval on its insomnia drug.

Tuesday, July 7

Japanese Phone Company Takes Stake in Packet Video

NextWave Wireless, a San Diego provider of wireless technology whose main subsidiary is Packet Video, said July 6 that Docomo Inc., Japan's largest mobile phone operator, took a 35 percent equity stake in Packet Video for an investment of $45.5 million.

Monday, July 6

Meritage to Pursue Treatment for Very Rare Food Allergy

Privately held Meritage, a newcomer to the local biotech scene, aims to develop the first FDA-approved drug for treating eosinophilic esophagitis.

Three Leases Bring Plaza to Nearly Full Occupancy

Seville Plaza, located at 5469, 5471 and 5473 Kearny Villa Road, has reached 90 percent occupancy.

County Fair Hawker Peddles Her Own Pillow Pets

Jennifer Telfer started her retail career as a pitchman at county fairs where direct customer contact is a testing ground for all manner of products.

Foundation Gives $750K Grant to Contemporary Art Museum

The Museum of Contemporary Art received a $750,000 grant from the James Irvine Foundation.

Appraisers Going 'Light' on Home Values

In a real estate world of seemingly endless downward spiraling of housing prices, now emerges a staggering problem of sub-professional appraisals contributing to that decline.

San Diego People

Key hires and promotions. Executive Spotlight: Michael L. Norman

County Ramps Up Projects

As the federal government funnels in economic stimulus money to various projects, portions are being set aside for improving infrastructure, specifically roads.

'Banking Ain't Broke, So Don't Fix It,' Local CEOs Agree

Although the Obama administration is intent on reforming the current regulatory system for the financial services industry, many local bankers say the proposals are heavy-handed, and could end up hurting consumers.

SDNB Up for Sale?

San Diego National Bank, the region's fifth largest bank and one of the oldest, could be on the market, in large part due to financial problems facing its Illinois-based parent, FBOP, according to sources in local banking circles.

Now That Funding Has Arrived, Caltrans Gets Moving on Road Work

The California Department of Transportation is using several sources of funding to get work on county road projects rolling.

Real Estate Roundup

Leading off this week's real estate news from around the county: UC San Diego was one of six California winners in the 2009 International Parking Institute's Awards of Excellence Competition.

News In Brief

Top business news from around the county

Contractors Find Work in Military and Education Projects

Although the economy has weakened the commercial construction market, certain general contractors have found a lifeline in projects funded by the American Recovery and Reinvestment Act of 2009, or ARRA.

Downturn Ruins Startup's Plans

The tough economy has caused another startup bank to throw in the towel.

Executive Profile - Judy Forrester

Judy Forrester is president and CEO of LEAD San Diego.

Israeli-Based Self-Defense Classes Up 400 Percent

Dana Ben Kaplan, president and owner of Krav Maga San Diego, which teaches Israeli-based self-defense technique tactics to civilians, law enforcement officers and military personnel at two San Diego locations, says he's experienced a 400 percent growth in

Phone Provider in Touch With Updated Technology

The founder of a small local telephone company has relied on slow, steady growth that he believes will one day make Convergence Systems into a household name.

Leases

Pizza Hut has leased 4,700 square feet of retail space in Sweetwater Crossings at 1838 Sweetwater Road, in National City.

Officials Celebrate Completion of Reservoir Renovation

An official ceremony May 20 marked the completion of the Rancho Bernardo Reservoir Rehabilitation project.

Trial Lawyer Delivers Courtroom Intensity in Latest Book

San Diego Morrison & Foerster partner James Huston, who specializes in aviation production litigation, has penned a new legal thriller titled "Marine One."

New Appraisal Rules Prompting Outcry

Local residential real estate professionals are fuming over new rules imposed to strengthen the independence and accuracy of home appraisals, which they say are actually lowering property values and interfering with home sales.

Martial Arts Industry Growing in Popularity

After years of battling hyperactivity with prescription drugs and suffering the side-effects, 12-year-old Christopher Cronj & #233; is now using his own body to attack the disorder.

Imagine Communications Developing Mobile TV on Demand

With the switch from analog behind us, the real digital transition can begin , bringing high-definition video on demand and broadcasts to any screen, anywhere, says Jamie Howard, CEO of Imagine Communications.

Hundreds of Jobs Hinge on Global Hawk

The Pentagon wants to buy five of Northrop Grumman's Global Hawk aircraft in fiscal 2010. Congress, however, may opt to buy just two.

Professional Journalists Honor SDBJ Staffers

Read all about it! Staffers at the San Diego Business Journal take home 17 awards, including three first place plaques, at the June 25 annual dinner sponsored by the local chapter of the Society of Professional Journalists.

Number of Hotel Foreclosures, Defaults Increasing

The number of California hotels that are in default on their loans or have gone into foreclosure has jumped a whopping 125 percent in the past 60 days.

Don't Be Caught Holding a Financial Time Bomb

Bob's doctor just told him he had advanced Lyme disease. He would be disabled , indefinitely. Bob's financial time bomb was about to explode!

Thursday, July 2

GA, Navy Decide Ceiling Price for Carrier Catapult

General Atomics and the Navy have agreed on a ceiling price for an advanced aircraft catapult, which the Navy will install on its next-generation aircraft carrier.

Proposed Temecula Valley Bank Deal Crumbles

Temecula Valley Bank said July 1 that a proposed $210 million capital infusion from Bancroft Capital and other institutional investors won't happen, leaving the troubled bank with less than two weeks to come up with an alternative solution.

Wednesday, July 1

San Diego News Network Sets Sights on Riverside

The San Diego News Network, a startup online news service, seems to have found its sea legs after a choppy start.

UPDATE: Residential Real Estate Data Skewed

An apparent mistake in San Diego home sales figures reported by the nonprofit Sandicor to the California Association of Realtors vastly overestimated the number of sales going back several months.

Bridgepoint Education Inks Lease for Extra Space

Bridgepoint Education, the San Diego online university that went public a few months ago, said July 1 it signed a lease for another 18,000 square feet of space in a building next to its current headquarters office in Sabre Springs.

SEC to Investigate Sequenom

The Securities and Exchange Commission has initiated an investigation into employee data mishandling at Sequenom, according to a June 30 regulatory filing.