Stories for June 2009

Tuesday, June 30

Trash Hauler Sees Potential in Construction Debris

Waste Management and local officials from the city of El Cajon officially opened a new recycling center aimed at decreasing the refuse from construction sites to landfills and retrieving materials for future uses.

Pratt & Whitney Pulls Composites Unit Out of San Diego

Pratt & Whitney Composites, which serves the aerospace industry, said June 30 it was closing its San Diego operations at 4075 Ruffin Road and moving manufacturing work to other facilities, primarily in Michigan and Singapore.

Monday, June 29

Did the Nazis Build a Stealth Aircraft?

Strange, but true story. One of Hitler's last gasps at victory, a jet-powered "flying wing" decades ahead of its time, lands at the San Diego Air & Space Museum in Balboa Park.

News In Brief

Top business news from around the county.

Academic Success Center at San Diego City College

Academic Success Center at San Diego City College

San Diego People

Key hires and promotions. Executive Spotlight: Greg Lanphear

Biotech Profile - Joel Martin

Joel Martin is president and CEO of Altair Therapeutics, which is developing novel therapeutics to treat human respiratory diseases.

Forum Exchanges Ideas Impacting Drug Approvals

Drug regulators expect greater involvement from various stakeholders to make sure their medicines are safe, an FDA executive told a small audience gathered in San Diego to discuss issues affecting the drug industry last week.

Inventors Mull Consequences Of Patent Reform Legislation

As patent reform legislation makes its way through Congress, San Diego's biotech companies are bracing for major changes to the patent application process and how they protect their discoveries.

Real Estate Roundup

Leading off this week's real estate news from around the county: Barnhart and the city of Encinitas announced the completion of Fire Station No. 3 on June 18.

Goldstein Foundation Gives $1.5M to Scripps Research Institute

The Arlene & Arnold Goldstein Family Foundation has given $1.5 million to support research in the Department of Molecular and Experimental Medicine at The Scripps Research Institute.

From Carlsbad to Carolina: RQ Gets Camp Lejeune Deal

A joint venture involving Carlsbad-based RQ Construction and Archer Western of Chicago was awarded a $151 million contract to design and build bachelor enlisted men's quarters at Camp Lejeune Marine Corps base in Jacksonville, N.C.

'Happy Happens,' But Not for Innkeepers in May, June

Though hotels enjoyed high occupancy rates Memorial Day weekend , 97 percent, for example, on May 23 , margins were down because rates were down, said Namara Mercer, director of the San Diego County Hotel-Motel Association.

Real Estate Leases

Steve Barker, dba Horace Mann Insurance, has leased 600 square feet of office space at 2424 Vista Way, Suite 105, in Oceanside.

Investors Pump $22M Into ParAccel

Local analytics database management company ParAccel has raised $22 million in a third round of venture financing led by new investor Menlo Ventures.

North County Highway Projects to Create More Jobs

The San Diego Association of Governments' new budget kicks off in a couple of weeks with a huge pot of cash being spent in North County on regional transportation projects.

Worst Over, Says Irvine Co. Executive

The Business Journal recently asked Brittain Cheney, vice president for leasing at The Irvine Co., to give us his insights into the local commercial market, and where the industry might be headed in a turbulent economy.

Biotech Profile - Tina S. Nova

Tina Nova is president and CEO of Carlsbad-based Genoptix.

Cutting-Edge Nanotech Devices Could Fight Disease From Inside the Body

It's the stuff of science fiction novels, with "smart motherships" patrolling the body for diseased cells and "nanoworms" sneaking unnoticed through the bloodstream.

Executive Profile - Holly Lepre

Holly Lepre is vice president of CleanTECH San Diego, a private, nonprofit corporation formed in 2007 to accelerate the San Diego region as a world leader in the clean technology economy.

Next Step for Nanotech: Treating Cancer in Clinical Studies

Michael Sailor, a UC San Diego chemistry and biochemistry professor, leads a government-funded laboratory where researchers study nano-sized technologies like nanoworms, which swim through the bloodstream honing in on developing tumors.

Invetech Builds Up Sales Close to Life Sciences Clients

Richard Grant, who heads up scientific instrument and automation systems developer Invetech in Mira Mesa, has good reason to remain optimistic about its future.

SBA Keeps Doing Its Part to Stimulate Economy

It's been a little more than 100 days since the president signed the American Recovery and Reinvestment Act. In that time, the U.S. Small Business Administration has implemented programs to get credit flowing again and has several more on the way that wil

Apartment Rents Fall, Vacancies Rise

Countywide, apartment rents dropped 1.5 percent to an average of $1,323 in March , marking the first time in 21 years that MarketPointe Realty Advisors has seen a decline.

Familiar Name Joins Fight Against Cancer

Serial entrepreneur Harry Gruber is at it again, starting yet another tech company, this one aimed at developing treatments for terminally ill cancer patients.

Friday, June 26

Verve Wireless Snags New Clients

Verve Wireless of Encinitas said June 25 that it's signed deals with the publishers of the Denver Post, the Dallas Morning News, Seattle Post-Intelligencer, Palm Beach Post and Examiner.com to provide mobile publishing and advertising services.

Workers Sue Insurer Over Pay, Overtime

Three former employees of Northwestern Mutual Life, including two from San Diego County, allege in a complaint filed in U.S. District Court in San Diego that they and other employees in similar sales positions were denied the minimum pay and overtime comp

We Want Your Opinion

The corner coffeehouse gives you a variety of ways to take your java. Here, we wonder how you prefer your Business Journal.

Thursday, June 25

PacWest Bancorp Loads Its Guns

It may be nothing more than a business being prepared for a potential opportunity, or it could signal it's ready to make a big deal. But PacWest Bancorp's securities filing this month for an equity offering of up to $150 million prompted local speculation

Economic Index Rises Again

An index measuring San Diego's economy rose for the second straight month in May, mostly from a jump in the level of consumer confidence.

Business Journal Readership Survey Goes Live

The San Diego Business Journal is teaming up with three M.B.A. students at San Diego State University to map a direction for the publication's online content.

Wednesday, June 24

SAIC Getting New CEO

SAIC said June 23 that CEO Ken Dahlberg will retire from his position Sept. 20, but continue to serve as chairman of the board until June 2010 at the next shareholders meeting.

SEC Charges Chula Vista Man With Operating Ponzi-Like Scheme

A Chula Vista man and two entities he controls were charged June 24 by the Securities and Exchange Commission with operating a Ponzi-like scheme through five hedge funds.

Tuesday, June 23

Temecula Valley Bank Must Raise More Capital By July 15

Temecula Valley Bank, which said this month that it's talking with private equity group Bancroft Capital about a $105 million investment, said in a June 15 securities filing that the Federal Deposit Insurance Corp. has given the bank until July 15 to incr

Chula Vista Earns Cool City Award

Chula Vista may be the epicenter for the subprime loan debacle, but it's also the coolest city in the county.

Monday, June 22

T. Boone Pickens Gets Behind Barrio Logan Carmaker

A startup San Diego carmaker backed by one of the largest Silicon Valley venture capital firms said June 17 that it would build environmentally friendly cars in an idled General Motors plant in Louisiana, in a deal heavily publicized by Louisiana Gov. Bob

Mega-Grocer Opening 4 New Fresh & Easy Stores in the County

British mega-grocer Tesco applied the brakes to an aggressive expansion plan first announced when it burst on the regional scene with Fresh & Easy stores three years ago.

Novatel Wireless Supplies Power to Mobile Internet Service

Virgin Mobile USA said June 10 that it launched a prepaid mobile Internet service that uses a Novatel Wireless-powered 3G modem.

5 Things Real Estate Investors Must Know

Historically, real estate has moved in cycles. Downturns are a normal part of a healthy cycle. These are five important points to understand about real estate and where the market is headed.

Barnhart Delivers New Campus Under Budget

The $104.5 million Del Norte High School, with 212,200 square feet of ultramodern buildings encircling a courtyard on 62 acres, looks more like something you'd expect to see in the ritzy Beverly Hills 90210 ZIP code rather than suburban Poway.

Fast-Casual Eateries Relish Expansions, See Sales Rise

Many on-the-go executives and families recently restricted to tighter budgets are creating a demand for fast-casual restaurants.

News In Brief

Top business news from around the county.

Sales and Leases

Opera Development purchased a 10,202-square-foot parcel of land in Golden Hill for $490,000.

Despite Recession, Chef Works Doubles Warehouse Capacity

Family-owned Chef Works serves up chic comfort to workers in the food service and hospitality industries, including award-winning culinary apparel for executive chefs and waiters.

Charity Believes Children Are Our Future, Grants $110K

St. Germaine Children's Charity presented grant funding totaling $110,000 to 13 beneficiaries at its annual Membership and Grants Awards Luncheon on June 9 at the La Jolla Beach & Tennis Club.

Time to Reform Chronic Care System

If you care for a loved one with a chronic disease, no doubt you know that the system is sick. Four common chronic conditions , hypertension, asthma, heart disease and diabetes , present a significant public health challenge in San Diego.

Kratos Gets $5.7M in Security System Work

Kratos Defense & Security Solutions said June 22 its public safety and security segment was recently awarded a total of $5.7 million for security system integration and access control systems integration work.

Despite Government Help, Pacific Coast National Struggling

Pacific Coast National Bank, based in San Clemente and with a branch in Encinitas, was among banks receiving funds from the U.S. Treasury through the TARP, or Troubled Asset Relief Program.

Real Estate Roundup

Leading off this week's real estate news from around the county: Barnhart and the city of Chino Hills announced the completion of the Chino Hills Government Center on June 3.

Executive Profile - John Ferrari

John Ferrari is president of Allegra Print & Imaging Mission Valley, a printing and graphics company that provides copying, design and consultation.

San Diego People

Key hires and promotions. Executive Spotlight: Carl Vonderau

Agency to Loan Up to $210M for Stem Cell Research

Northern California biotech Geron made history this year when it received FDA approval to test its stem cell therapy in people with spinal cord injuries.

Establishments Move In and Out of Established Neighborhoods

A barbecue restaurant on Goldfinch Street in Mission Hills that closed a couple of years ago will soon reopen as a pizzeria while the building next door that once housed a TV and radio repair shop has been razed to make way for an international restaurant

Nonprofit Profile - Reuben H. Fleet Science Center

A conversation with Jeffrey W. Kirsch, executive director at Reuben H. Fleet Science Center.

Federal Tenants Providing Mini-Stimulus

While the economy may be in the tank, at least one sector appears to be growing.

Capstone Advisors Takes on Asset Management

In good times, Carlsbad real estate development firm Capstone Advisors would be working on a shopping center or residential project. Of course, these are far from good times.

Golf Equipment Industry Veering Off the Course

Golf economics, part 1: A foursome plays a beautifully manicured course in the rolling canyon topography of San Diego County.

Circle Foods Opens New Otay Mesa Plant

Circle Foods, which consolidated two locations in San Diego into one in Otay Mesa this year, held its grand opening June 22.

Quasar Rolls Out New Sensor for Undersea Explorations

Quasar is rolling out deepwater sensors used to detect gas and oil deposits beneath the ocean floor originally developed through military-related research.

Credit Unions Making Business Loans

Credit unions, best known for making home and auto loans, are seeing an uptick in business loans as commercial banks tighten credit standards.

Lacking Star Power, Padres Strike Out at Gate, on Field

Maybe it was the fact that it was a rather dull game, or the fact that only 17,000 of us showed up last week for a 5-0 loss to the Seattle Mariners, but there's something missing this year at Petco Park, and it's more than a team that can score runs consi

Friday, June 19

Arena Gets $100M Loan

Weight loss drug maker Arena Pharmaceuticals said June 18 it secured a loan worth $100 million from a New York-based health care investment firm.

Eddie Bauer Stays Open in Bankruptcy

One day after its filing for Chapter 11 bankruptcy protection, a judge said Eddie Bauer Holdings, the Bellevue, Wash.-based retailer, can pay employee wages and vendors in order to remain operational.

Unemployment Rate Continues Its Rise

San Diego's unemployment in May rose to 9.4 percent, up from a revised 9.2 percent in April and way up from last year's May jobless rate of 5.4 percent, according to the June 19 report from the state Employment Development Department.

Jack in the Box to Sell Convenience Stores

San Diego-based Jack in the Box said June 19 that it has entered into an agreement to sell 55 of its 61 Quick Stuff convenience stores and gas stations.

Chargers Weigh New Oceanside Option

The San Diego Chargers are talking with an Atlanta-based developer about putting up a stadium along with commercial and residential buildings in Oceanside.

Thursday, June 18

H2O Audio, Swimmer Michael Phelps in Endorsement Deal

Olympic swimmer Michael Phelps has landed a multiyear endorsement deal with San Diego-based H2O Audio.

Recession Help Expo Set for June 28

Given the sorry state of the economy, folks are looking for answers and they just might find some at a June 28 event billed as the first of its kind called the Recession Help Expo.

Kaiser Opens Medical Offices in Rancho Bernardo

Kaiser Permanente San Diego is scheduled to open its new, 31,000-square-foot medical office building on Bernardo Center Drive June 22.

Technology Incubator Sets up Shop

The nonprofit communications industry group, CommNexus, and Leap Wireless announced June 17 a new nonprofit incubator to help San Diego startups in the communications industry.

Wednesday, June 17

V-Vehicle Chooses Louisiana for Auto Plant

V-Vehicle Co., a car manufacturer based in San Diego that includes billionaire oil magnate T. Boone Pickens as an investor, said June 17 it's investing $248 million to build a plant in Monroe, La. that's expected to create 1,400 direct jobs.

Median Home Price Hits $295,000 in May

Median home prices increased again in May continuing the modest recovery that began in January, according to MDA DataQuick of La Jolla.

Growth Sends DefenseWeb to Larger Quarters

A software developer for government and military clients, DefenseWeb Technologies, says its rapid growth has prompted the company to move into higher-end class A office headquarters in Sorrento Mesa.

Accelrys Names CEO

San Diego scientific software company Accelrys named Scipio "Max" Carnecchia as president and CEO, effective June 16.

Tuesday, June 16

SAIC Secures $284M Deal

SAIC said June 16 that it signed a defense contract worth up to $284 million over five years.

Seminar Sheds Light on Solar Water Heating

Solar Water Heating Expo is hosting a free, public workshop from 10 a.m. to 3 p.m. June 20 at the California Center for Sustainable Energy.

Convention Center Addition Pegged at $783M

Adding 400,000 square feet of prime exhibit space to the San Diego Convention Center would come at a hefty price and might prompt some tax hikes and fees on local attractions, according to a report consultants prepared for a panel assigned to decide the p

Seminars Cast a Wary Eye on CyberCrime

Anti-virus software maker ESET is holding a series of free seminars over the next two weeks through its Securing Our eCity initiative to help residents protect themselves from cybercrime.

EcoDog Looks to Fetch $5.6M

EcoDog, a Vista startup that makes technology that allows utility customers to monitor and control their energy use, said June 16 it received an initial round of angel funding from Tom Page, the former president of San Diego Gas & Electric.

Monday, June 15

Trius Therapeutics Trying to Win Battle Against 'Superbug'

The race to approve a new antibiotic for treating the drug-resistant "superbug" known as MRSA intensified last week when Trius Therapeutics revealed data showing its experimental drug has potential for curing severe skin infections.

San Diego People

Key hires and promotions. Executive Spotlight: Jamie Nelson

Sempra Looking to Generate $1.5M for Needy Families

Sempra Energy and Sempra Energy Foundation launched a $1.5 million initiative with Armed Services YMCA and San Diego Food Bank on May 28.

Former ConVis CEO Headin' to Arizona

Out with the old and in with the new in this suddenly very wacky world of print journalism.

Car X-Ray to Place Spectrum On Fast Track, Firm Predicts

Spectrum San Diego has introduced a product that can X-ray moving cars and light trucks for explosives, contraband and stowaways at busy inspection sites.

Improvement Districts Offset The Decline in City Services

With more and more cities cutting services, some neighborhoods are taking a different approach to maintaining their livability, says Marco Li Mandri.

SAIC Expecting Less Funding for Army Modernization Program

It's called Future Combat Systems and in Washington, the talk revolves around well, its future.

State Cutbacks Prove Worrisome for Health Providers

As Gov. Arnold Schwarzenegger considers a plan to eliminate the state's health insurance program for children and cash assistance programs to low-income families in order to reduce the state's budget deficit, San Diego safety net providers are prepping fo

News In Brief

Top business news from around the county.

State Needs Belt-Tightening, Not Misdirected Red Pens

As the governor prepares to make draconian-style cuts in the state's programs, businesses are busy trying to find the appropriate strategy to proceed down the new path to success being created by stimulus funds, programs and new rules of the road.

Plenty of Room at the Inn Leads To Good Deals for Travelers

Before the economy went south, the county typically ranked among the nation's top 10 destinations, and sometimes in the top five, in terms of occupancy rates at inns.

Online Balloting Holds Promise for Increasing Voter Turnout

The world's second largest democracy, the United States, arguably takes the prize for lackluster voter turnout.

Financing Hang-Ups Delay Two Long-Term Downtown Projects

Two big development projects in downtown San Diego planned years ago are stalled, lacking the financing to move ahead and with little prospects in finding the money anytime soon.

Technology Changing Business of Branding

Ever since the Internet put the world on a stage, managing one's online presence has become central to developing a brand and business.

Could W Stand for Wave of Forfeitures?

If San Clemente-based Sunstone Hotel Investors hands the keys of the 258-room W San Diego back to its lender, it could be the tip of the iceberg as far as lodging forfeitures and foreclosures go, one regional broker says.

Real Estate Roundup

Leading off this week's real estate news from around the county: Ron Lack and Mark Wayne, two veteran commercial real estate executives, have formed Cypress Realty Advisors.

Should New Civic Center Project Be Shelved?

Mayor Jerry Sanders wants to explore moving ahead with efforts to build a new Civic Center, if it can be proved the project could save San Diego money during the next 50 years.

Banks Showing Little Interest In No Interest Loan Program

A no interest loan program intended to help business owners catch up on past due payments for other loans may find few takers among commercial banks.

Nassco Delivers Second Tanker, Pelican State

General Dynamics Nassco, still the only full-service and repair shipyard on the West Coast in San Diego's Barrio Logan, said June 15 it delivered the second product carrier ship to customer U.S. Products Investor.

Bulls, Bears and Beaches: Merrill Celebrates 60 Years in La Jolla

Merrill Lynch's La Jolla office celebrates its 60th anniversary June 15.

Executive Profile - J. Graydon Coghlan

J. Graydon Coghlan is president of Coghlan Financial Group, a company specializing in financial planning, risk management, retirement and estate planning, portfolio design, asset management services and financial goal integration.

Interim CEO at Hollis-Eden Gets Job Permanently

Hollis-Eden Pharmaceuticals has appointed James Frincke to lead the San Diego biotech following the departure of longtime CEO Richard Hollis.

It's a First: Schools Sell Bonds That Give Investors a Tax Credit

The San Diego Unified School District's $38.8 million in construction bonds issued June 15 are the first tax credit bonds ever issued under the American Recovery and Reinvestment Act of 2009.

Sales and Leases

The Copley Press sold a 10,000-square-foot office building at 7701 Herschel Ave. in La Jolla for $4.75 million. The buyer was 7701 Herschel. Mike Slattery and Robert Kuzman of Grubb & Ellis|BRE Commercial represented the seller.

Now's Time to Reassess Our Municipal Assets

As the mayor and San Diego City Council grapple with their fiscal circumstances, they are undoubtedly turning to revenues, and not just cost cutting.

Friday, June 12

Bank's Goal: Help Hispanic Businesses Weather Recession

Wells Fargo & Co. made a $200,000 grant to the California Hispanic Chamber of Commerce to help in the recovery of Hispanic-owned businesses.

Thursday, June 11

More Wind Turbines to Sprout at Campo

The Campo Band of the Mission Indians struck an agreement to build the second wind farm on its reservation, it announced June 11.

Ardea Tips Hand on Small-Scale Drug Study

Ardea Biosciences said its experimental gout drug successfully lowered uric acid levels in the bloodstream in just eight days in a small mid-stage clinical trial, according to preliminary data released June 10.

Sales Slump, But RF Industries Generates Profit

RF Industries, a San Diego distributor of radio frequency cables and connectors, reported net income of $214,000 for its second quarter ended April 30, down from net income of $542,000 for the like quarter of 2008.

Consumer Genome Test Comes With $48,000 Price Tag

In a move toward offering a cheaper view of a person's entire genetic makeup, Illumina said June 10 it will offer a consumer test for $48,000.

Qualcomm Raises Guidance

Qualcomm on June 11 increased financial guidance for the quarter ending June 28, citing increased demand for its mobile chipsets, but cautioned that the financial crisis was still hurting the value of its investments.

Wednesday, June 10

Port Heads Into New Year With Leaner Staff

The Port of San Diego, the agency that oversees the state-owned tidelands on San Diego Bay, approved its 2009-2010 fiscal year operating budget of $145 million June 9.

SDG & E; Offers Rebates to Energy Misers

San Diego Gas & Electric said June 9 that it's providing $40 million in rebates and incentives to area business customers this year for qualifying energy-efficient projects.

Digital TV's Transition Day Is a Big One for Flo TV

After its initial delay, the digital TV switch is finally upon us, which means that Qualcomm's Flo TV mobile television service will go nationwide starting with the June 12 switch.

Navy Steers Work to Chula Vista Boatyard

Marine Group Boat Works of Chula Vista said June 5 that it was one of 10 businesses awarded a five-year, indefinite delivery contract from the U.S. Department of Defense to provide repair, refit and maintenance services to Navy ships.

Tuesday, June 9

Arena Reports Positive News on Lorcaserin

Arena Pharmaceuticals on June 8 saw its stock return to levels unseen since March after releasing new data on its experimental weight loss drug lorcaserin.

Workforce Partnership Draws $24M in Federal Stimulus Funds

Thanks to a nearly $24 million infusion from the American Recovery and Reinvestment Act, the San Diego Workforce Partnership, the regional job training agency, says it's poised to make some dent in the area's unemployment.

Slightly More Employers Mull Hiring in Third Quarter

Thirteen percent of San Diego employers responding to the quarterly Manpower survey said they intend to increase hiring in the third quarter, up from 12 percent who said they would be expanding in the second quarter.

Business Magazine, Community Paper in New Hands

Veteran newspaper executive Bob Page acquired two local monthly publications, the San Diego Metropolitan Magazine and its sister publication, the North Park News, from Gary Shaw on June 1 for an undisclosed price.

Suitor Offers to Buy CardioDynamics at 73 Percent Premium

CardioDynamics, a San Diego-based maker of digital heart monitors, has agreed to be bought by medical device company SonoSite of Washington for $1.35 a share.

Port Commission Seat Filled

After three rounds of voting June 8, the San Diego City Council appointed corporate attorney Lee Burdick as the city's newest port commissioner, replacing Laurie Black, who resigned in April citing family health issues.

Monday, June 8

Park Closure to Leave Desert Businesses High and Dry?

Gov. Arnold Schwarzenegger's proposal to close a majority of state parks to help reduce the budget deficit could greatly harm local economies, including Borrego Springs, which relies heavily on tourism brought by Anza-Borrego Desert State Park, one organi

Drought Prompts Rising Tide of Interest In Water Savings

Local landscaping companies and nurseries say the region's drought, which has prompted water restrictions, has spurred demand for products and services.

San Diego People

Key hires and promotions. Executive Spotlight: Jeffrey W. Cavignac.

Proposed ADA Compliance Act Aims to Help Small-Biz Owners

First-term Rep. Duncan D. Hunter, R-El Cajon, recently introduced legislation that would give business owners sued for alleged Americans with Disabilities Act violations a grace period for making fixes.

Topping Off: Miramar College Hourglass Park Field House

The Hourglass Park Field House at Miramar College is a $26 million, fully equipped, state-of-the-art facility that includes a gymnasium, fitness center, classrooms, dance rooms and more

News in Brief

Top business news from around the county.

Taiwan Factory Prepped to Produce New Qualcomm Display

Qualcomm and Taiwan manufacturer Cheng Uei Precision Industry are opening a fabrication plant June 15 to produce low-power Mirasol displays, which could be used in everything from cell phones to laptops.

Six-Lane Freeway Project Under Construction in Otay Mesa

The California Department of Transportation says the first phase of construction on state Route 905 in Otay Mesa began May 27.

Women's Roles in the Creative Economy

Women's Roles in the Creative Economy

El Cajon Gets New Archway Signage

Positive news is scarce. So, let's start with some.

Wells Fargo Honored for Making a Community Impact

Wells Fargo & Co. was honored by United Way of America with two awards, part of its Spirit of America Awards program that recognizes the company's outstanding commitment to community impact and community volunteerism.

Contractors Going Back to Wood For Their Structural Projects

While some buildings are typically framed with metal studs, high steel prices and relatively low wood prices have resulted in a shifting focus in construction circles.

Sale and Leases

A 1,050-square-foot retail building has sold for $235,000. The property is located at 123 Broadway in Chula Vista.

Executive Profile , Tom Leech

Corporate communicator Tom Leech runs his own consulting firm, Thomas Leech & Associates in San Diego.

$9.6M in Transportation Work Expected to Start This Summer

San Diego County is getting $9.6 million for road and bridge resurfacing projects, culvert repair and traffic signal synchronization in unincorporated areas as a result of federal stimulus funding.

Proposed Deal Could Solve Temecula Valley's Woes

Temecula Valley Bancorp's agreement with investors that would boost its capital by $210 million, and comply with regulators' orders, could be the answer to its prayers, but the arrangement still requires further review from investors and, perhaps more imp

Tri-City District Sues Scripps

The Tri-City Healthcare District sued Scripps Health on June 3, alleging that doctors affiliated with Scripps in North County were preventing patients from seeking treatment at the district's Oceanside hospital.

Model for Urban Living Highlights Affordability

Rising on a site originally planned for condos, Ten Fifty B is being called a "model for the entire country" for environmentally friendly apartments with income-adjusted rents in the center of a bustling, renewed downtown.

Antibiotic Scores Points in Fighting Superbug

A drug being developed by Trius Therapeutics to combat the antibiotic resistant "superbug" MRSA met its safety and efficacy goals in a mid-stage Phase 2 clinical trial, the company said June 8.

Anacomp Lines up Financing

Anacomp, a San Diego provider of data storage services, said June 8 it obtained $7.5 million in new financing from Bridge Bank.

Loop'd Network Racing Along, Projects 40% Growth in '09

Loop'd Network, a San Diego startup that provides an online social network for action sports enthusiasts, recently closed on an $800,000 funding round to accelerate its e-commerce initiative to put action sports brands front and center of the athletes who

Agents Take Notice of Turnaround in Resale Inventory

If anyone says downtown condo sales are stagnant and hopeless, there may be another side to the story.

Real Estate Profile: Debra A. Aitken

A talk with Debra A. Aitken, assistant vice president, Corporate Real Estate Facilities Department, California Bank & Trust.

Reform a Hot Topic at Health Insurance Conference

Lowering the cost of health care and the possible effects of reform dominated discussions last week at a three-day event hosted by the health insurance industry's biggest lobbyist.

Office Market Suffers Most in Commercial Sales Slump

Due to the ailing economy and lack of available financing, sales of all commercial property types were down in San Diego County for a 12-month period ending in March compared with the same time frame a year earlier.

Airport Authority Board Sidesteps Union Pact

With $887 million in contracts scheduled to be awarded beginning this summer, the agency overseeing operations at Lindbergh Field decided June 4 that it would not adopt a controversial project labor agreement to cover the projects.

Do-It-Yourselfers Driving Parts Sales

New auto sales have slowed to a crawl. Consequently, it should be a great time for businesspeople who keep existing cars running , neighborhood garages and auto parts stores.

Praise for New Apartment Tower

Ten Fifty B, a 23-story, 229-unit apartment complex under construction on the north side of B Street between 10th and 11th avenues in downtown San Diego, is being hailed by low-income housing advocates nationwide.

W San Diego Hotel to Return to Lender

The owner of the W San Diego Hotel, San Clemente-based Sunstone Hotel Investors, which bought it for $96 million at the top of the market, said the property is not making enough money to cover the mortgage or operating costs, and it's willing to turn the

World of Ford, Chevy Men Is Long Gone

World of Ford, Chevy Men Is Long Gone

Real Estate Roundup

Leading off this week's real estate news from around the county: Escondido-based Realty Income's senior unsecured debt ratings at Baa1 were reviewed and reaffirmed by New York City-based corporate rating services firm Moody's Investment Services.

Study Results Bolster Amylin

Amylin Pharmaceuticals unveiled results from a two-year study that demonstrated significant blood glucose control and weight loss for patients who took its once-weekly diabetes treatment, sending its shares up 3 percent to $11.40 in midday trading June 8.

Ventana National Adventure Reached High But Missed Goal

The story of Ventana National Bank, which withdrew its application to launch a local bank a few months ago, was one of an organization with lofty ambitions, obviously too lofty for this troubled economy.

Friday, June 5

Metabasis Receives $2M Payment from Roche

Roche, the giant Swiss drug maker, plans to advance an experimental hepatitis C drug being developed with technologies from San Diego-based Metabasis Therapeutics into the clinic, Metabasis said June 5.

Grand Jury Clears Palomar Pomerado of Wrongdoing

A San Diego County grand jury investigation into the relationship between Palomar Pomerado Health and Kaiser Permanente has cleared the health district of any wrongdoing, saying that its contract with Kaiser does not violate any laws.

Chula Vista to Evaluate Options for Chargers Stadium

Efforts to bring the San Diego Chargers to Chula Vista continue.

Housing Commissioner Nominee Has City Hall Background

James Waring, the former head of land use with the city of San Diego, was named by Mayor Jerry Sanders to fill a vacant position on the San Diego Housing Commission.

Thursday, June 4

Anadys Restructures, Narrows Focus to Single Drug

Anadys Pharmaceuticals said June 4 it is scrapping plans for an early-stage drug program in favor of focusing its efforts on a lead hepatitis C drug as it trims its staff by 20 people, or 40 percent.

Nurse Group to Picket

A group of California nurses plans to hold protests at an annual meeting of health insurance professionals June 4, arguing that the industry isn't providing real solutions for reform.

Cross-Border Terminal Moving Ahead, Developers Say

A proposed cross-border terminal that would connect Otay Mesa with Tijuana's International Airport is close to filing for a necessary presidential permit.

Wednesday, June 3

Copley Press Sells Properties in La Jolla, Mission Valley, San Marcos

The Copley Press has sold its vacant, 10,236-square-foot office building on Herschel Avenue in La Jolla for $4.75 million to 7701 Herschel, LLC.

Tri-City Sues Scripps Health

Tri-City Healthcare District filed a lawsuit against Scripps Health June 3 alleging that doctors affiliated with Scripps in North County were preventing patients from seeking treatment at the district's Oceanside hospital.

New Chief Signs on at San Diego News Network

The former vice president of the Union-Tribune's Internet outlet, SignOnSanDiego.com, Chris Jennewein is returning to California to be president of the startup digital news service, San Diego News Network.

Car Dealer Arrested on Suspicion of Tax Evasion, Fraud

A San Diego used car dealer was arrested on a charge of state income tax evasion and two felony counts of state income tax fraud, according to the California Franchise Tax Board.

SAIC Earnings Top Analyst Estimates

SAIC reported a net profit of $116 million for its first quarter that ended April 30, up 13 percent from the like quarter of 2008.

Dynalectric to Make Berth Lima Shipshape

Dynalectric San Diego said June 3 that it received a contract to install industrial-scale electrical systems at Berth Lima at Naval Air Station North Island.

Tuesday, June 2

Factory Prepares to Produce Qualcomm's New Mirasol Display

Qualcomm said June 2 that its new Mirasol displays , which use ambient daylight and very little power , will be manufactured at a Taiwan fabrication plant dedicated solely to the technology.

Amylin Shareholders Unseat Two Directors

Shareholders of Amylin Pharmaceuticals voted to remove two top directors from the company's board, according to preliminary results from the company's annual shareholders meeting.

Temecula Valley Bancorp Lines Up New Investor

Temecula Valley Bancorp, operating under regulators' orders to improve its capital base, said June 1 that it entered into a nonbinding letter of intent with Bancroft Capital and other institutional investors for a cash investment of up to $210 million.

Youth Jobs Program Shapes Up for Summer

San Diego Mayor Jerry Sanders along with four other city and county elected officials will announce a summer youth jobs program June 3, with the $7.7 million in funding coming from the federal stimulus package.

Educator Looks to Add 100 Workers

With the unemployment rate rising above 9 percent, it's refreshing to hear news of a single job order for 100 new openings, as Manpower San Diego announced June 1.

Monday, June 1

Nonprofit Profile - San Diego Regional Center

A conversation with Carlos Flores, executive director of the San Diego Regional Center.

System for Reducing Electricity Use Is Self-Monitoring

The founders of startup Advanced Telemetry are building their business on the concept that when folks see how much energy they're consuming, they'll conserve.

Restaurateurs Trying Out Novel Ideas in the Gaslamp

While the sour economy has taken a big bite out of restaurant revenues, and many have sold or gone out of business, some newbies say they've found a niche in the Gaslamp Quarter by offering something different.

Regulators Putting Pressure on Troubled Temecula Valley Bank

Bank regulators are turning up the heat on the walking wounded ?lenders with higher numbers of problem loans and shrinking capital.

Tech Firms Fill Eternal Demand for Health Care Products

Technology firms making medical devices in San Diego, across the country and globally these days are in a position other tech-developing firms envy.

Biotechs Consolidate as Capital Contracts Industrywide

Biotech is increasingly becoming an industry of have and have-nots, Ernst & Young partner Daniel Kleeburg told an audience of a few hundred people who had gathered to hear the latest industry overview at a Biocom breakfast May 27.

News In Brief

Top business news from around the county.

San Diego People

Key Hires and Promotions. Executive Spotlight: Timothy Barr

Turbines Blowin' in the Wind

Viryd Technologies may be close to the wide-open, breezy testing grounds of West Texas, but it can't shake the semblance of a San Diego firm.

Tourism Turnout Nothing to Revel About This Memorial Day

The Automobile Club of Southern California, AAA, predicted late last month that 2.5 million people who live in the region would travel during the Memorial Day weekend, a 2.3 percent drop from the holiday period last year.

Despite Recession, ResMed Posts Record Profits

A good night's sleep has long been a doctor's mantra in encouraging patients to stay healthy and alert during the daytime. Like good nutrition or proper exercise, healthy benefits stem from adequate rest.

Million-Dollar Gift Will Help UC San Diego Add Top Scholars

Lise Warschawski gifted UC San Diego $1 million in honor of her late husband, Stefan Warschawski, founder of the university's Department of Mathematics.

Calgary Flights Take Wing

WestJet Airlines launched new seasonal roundtrip service from Lindbergh Field to Calgary International Airport four days a week on June 1.

Merchant Advances Replacing SBA Loans

With money for working capital scarce, small businesses lacking sterling credit but showing positive cash flow are using an alternative to traditional bank loans to fund operations.

U-T's Editorial Writers on the Hot Seat

The San Diego Union-Tribune newsroom and other local media outlets are abuzz over a recent story that broke in the L.A. Times.

Enviance Garners Award for Driving Change to Denver Air

Enviance earned an honor recently from a Washington, D.C. nonprofit for using emissions management technology to improve fuel efficiency for Denver's public fleet.

Socialwise Helps Parents Rein in Their Kids?Virtual Spending

Socialwise, a San Diego startup traded over the counter, has introduced an online payment system that targets teens and preteens.

Condos Idling On the Market

The turnout for a grand opening event at downtown's Breeza condos recently was encouraging to the developers, considering that 300 people showed up , 100 more than expected.

SDBJ Names Karen Mullen Vice President of Advertising

Local veteran Karen Mullen has been named vice president of advertising for the San Diego Business Journal, Publisher Armon Mills said recently.

Fate Tests Experimental Drug

In the first approach of its kind, San Diego-based Fate Therapeutics will begin testing a small molecule drug in combination with stem cells extracted from cord blood to see whether the approach can replenish the blood systems in people with leukemia and

TorreyPines Therapeutics to Liquidate

TorreyPines Therapeutics said its board has voted unanimously to liquidate the company's assets after failing to find a buyer or to negotiate other alternatives allowing it to remain in business.

Kyocera Takes Recycling Prize

Kyocera Wireless Corp., a San Diego unit of Japan-based Kyocera Corp., said it received the Directors Recycling Award from the city of San Diego's Environmental Services Department for its recycling efforts.

GSA Preserves Legacy of Historic Buildings

At the U.S. General Services Administration, we believe that our nation's historic public buildings , similar to family heirlooms, chronicling the passing of eras , are monuments to the strength, spirit and longevity of our government, forever preserving

Sales and Leases

The 12,050-square-foot Sorrento Mesa Industrial Building has been sold for

Making the Case for a Park in Mission Valley

An immense mixed-use project has been proposed to rise up from the parking lot of the 166-acre site of Qualcomm Stadium in Mission Valley.

Executive Profile - Russell Whitaker

Before opening the MediaTech Institute in Oceanside to teach others the recording arts and film industry, Russell Whitaker was at the heart of Texas music and recording for three decades.

Real Estate Roundup

Leading off this week's compilation of real estate news from around San Diego County: Construction has commenced at Paseo Carlsbad, a two-story, 75,000-square-foot retail center.