Stories for August 2010
Tuesday, August 31
San Diego’s economy continued to plod along, but is moving up, albeit by dribs and drabs, according to the July Index of Leading Economic Indicators for San Diego released Aug. 31.
Monday, August 30
Federal prosecutors charged a San Diego woman with fraudulently obtaining relief in the wake of the Hurricane Katrina disaster in a six-count indictment Aug. 27 in a San Diego federal court.
Overland Storage Inc., a San Diego maker of data storage systems, reported a fiscal year fourth quarter net loss of $4.2 million, compared to a net loss of $2.6 million for the like quarter last year.
A $186.5 million loan on the Park Hyatt Aviara Resort in Carlsbad, previously known as the Four Seasons Aviara, has been placed in special servicing due to imminent default, according to an Aug. 25 alert issued by Fitch Ratings.
Otonomy Inc., a San Diego company developing drugs to treat disorders of the inner and middle ear, said Aug. 30 that it closed a $38.5 million series B financing round.
Renée Schor is partner of Schor & Freeland LLP, an employment law firm dedicated to helping create sustainable workplaces.
WORK FORCE: Strategies Include Open Door Policies And Honest Evaluations
he most effective strategies for preventing labor problems involve maintaining good communications with employees and providing clear expectations for performance.
WORK FORCE: Public, Private Resources Can Save A Trip to Lawyer’s Office
When employers start to look for the best advice about following the law and the best avenues for taking care of employees, they soon realize there are lots of questions and lots of places to look.
TECHNOLOGY: Companies Confront Legal Issues Tied To Managing Remote Staff
As new technologies make it easier for employees to do their jobs outside the traditional workplace, employers increasingly find themselves navigating through unfamiliar legal waters.
Until a couple of weeks ago I had never heard of the city of Bell in California. When the story of outrageous public employees’ salaries there hit the streets the fatal bell tolled for the top executives running the city
As some banks stumble, others seem to get stronger.
Could today’s sluggish pace of new-home construction help create tomorrow’s housing shortage in the San Diego County market?
Laura Farmer Sherman and Mary Walshok are among the people who will be honored in late October during the San Diego Business Journal’s 17th annual Women Who Mean Business Awards.
HOSPITALITY: ConVis Set to Promote Hotels in The North County Region
San Diego’s two city-focused tourism bureaus are nearing completion of arrangements to have the San Diego Convention & Visitors Bureau take over the bulk of duties in promoting northern hotels.
BANKING: Pacific Western Parent Buys 3rd Failed Bank
PacWest Bancorp, parent of Pacific Western Bank, expanded its market share to Central California, picking up 14 branches and some $800 million in assets from failed Los Padres Bank, a savings and loan based in Solvang, in a regulator-assisted deal Aug. 20.
TECHNOLOGY: Creator Breaks Into Children’s Market With $300K
Engineer Scott Seligman of San Marcos always enjoyed watching his children play with building blocks, but it seemed to him that the toy could be improved to encourage them to learn more while they were having so much fun.
We are now bouncing along the bottom of the economic cycle, worrying — as if it matters — whether the economy is now mired in a “double dip” recession or just continuing along its slow, miserly pace presumably to recovery.
The NTC Foundation received grants to provide funds for the renovation of the next phase of 26 historic buildings at the former Naval Training Center.
DEFENSE: Chief of Naval Operations Positive About County’s Future Role in Nation’s Defense
The military’s $26.5 billion annual economic impact on San Diego is not likely to change significantly as the years progress, the Navy’s top officer, Adm. Gary Roughead, told a group of reporters Aug. 26 during a visit to San Diego.
NONPROFIT: S.D. Firms Make Key Contributions to Girl Scouts
When land was set aside for scout camps in Balboa Park just after World War II, the story goes, the boys program got there first. The Girl Scouts arrived a few years later and took up residence on an adjacent site that was largely a canyon.
FINANCE: Interest Rate On 30-Year, $600M Issue To Be Determined Soon
The agency that oversees San Diego International Airport approved issuing up to $600 million in revenue bonds Aug. 23 to finance most of the $1 billion terminal expansion and improvement project.
Physician Brent Eastman, Scripps Health’s chief medical officer who also chairs the American College of Surgeons’ board of regents, pens a study for the college that says trauma care is in big danger of expiring nationwide.
REAL ESTATE: Residential Side Called Dead; Leasing Activity Up
While its once-high-flying residential condo market is being pronounced dead, Mexican real estate still has pockets of activity — in selected industries in certain geographic areas — that continue to draw investors on the commercial side.
Friday, August 27
The deadline for Connect’s Most Innovative New Product Awards, which the organization touts as San Diego’s Oscars for new technology gizmos, is Sept. 2.
Lexicon Consulting, an El Cajon-based firm that trains Department of Defense and military personnel before they’re deployed to Iraq and Afghanistan, was ranked fourth fastest growing company in the nation by Inc. Magazine in its September issue.
Wednesday, August 25
Stephen Weber, president of San Diego State University since 1996, announced Aug. 24 he’s retiring from the job effective July 5.
Business and civic leaders on Aug. 24 held opening ceremonies for a new technology company incubator in La Jolla. A ribbon-cutting and open house took place at the new 18,000-square-foot headquarters of CommNexus.
Fitch Ratings affirmed an A+ rating on the San Diego Unified Port District’s $43.5 million in outstanding revenue bonds but bumped the outlook on the agency down from stable to negative in an Aug. 24 report.
Tuesday, August 24
Construction permits pulled for single-family homes in San Diego County during July rose 3.3 percent from a year ago, but totaled less than half the number seen in June, according to data reported Aug. 24 by the California Building Industry Association.
PacWest Bancorp, parent of Pacific Western Bank, said it acquired most of the assets and deposits of Los Padres Bank, based in Solvang and seized Aug. 20 by federal regulators.
Dentt Properties, a San Diego-based real estate investment and development firm, has sold a 94,698-square-foot industrial park in Spring Valley for $12.25 million.
Monday, August 23
The San Diego office of the U.S. Small Business Administration holds two free workshops this week.
The Old Globe celebrated its 75th anniversary on July 31 with the world premiere of “Robin and the 7 Hoods,” which was followed by a dinner on The Old Globe’s Copley Plaza. Audrey Geisel, Marion Ross and Darlene Shiley were the 2010 Honorary Chairs.
HOSPITALITY: Online Surveys Help Target Offers To Compatible Recipients
Marketing discounted restaurant offers and theater tickets is nothing new, but Steven Persitza, president of San Diego-based Just My Ticket, has added a new twist by closely matching the offers with the recreational habits of participating consumers.
Atlanta-based Wood Partners LLC, which develops multifamily projects, has purchased a 5.9-acre apartment site in San Diego’s Kearny Mesa area, where it plans to build a 379-unit luxury apartment community.
REAL ESTATE: 1st-Half Sales Transactions Up About Two-Thirds Locally
As the fortunes of the long-battered hotel industry steadily improve, San Diego County is among the markets riding a significant increase in hotel property sales transactions.
CONSTRUCTION: Patrons Will Mix Work, Play in Posh Panoramic Tower
The downtown space that houses San Diego’s century-old University Club has embarked on a 21st century renovation, targeting the social networking needs of time-strapped, multitasking business professionals who can’t avoid taking their work beyond the office.
Eat, drink and then fast? Ted Leitner, the play-by-play voice of the first-place San Diego Padres, is often heard these days on the radio extolling the virtues of a quick weight-loss program in one commercial while urging fans to partake in the $28 all-you-can-eat special at Petco Park in another commercial, sometimes even running back-to-back.
MARKETING: 1-Man Operation Helps Generate New Logos for U.S. Postal Service, Small Biz
Small businesses seeking a new print ad, logo or Web site to attract attention but lack a marketing budget may find an alternative at Prova.fm.
DEFENSE: Region’s Robotics, Ship Repair Sectors May Grow
Despite Defense Secretary Robert Gates’ statements this month about reining in the Pentagon budget — partially by cutting defense contractor budgets — San Diego County’s military-related economy should remain robust, according to a trade group executive.
REAL ESTATE: Standard Pacific Takes Over Stalled Development
Developer Standard Pacific Homes said recently that it is investing at least $150 million to move forward on what would eventually be more than 700 homes on 468 acres in North County, reviving a project stalled by financing issues faced by its original developer — and stoking optimism about local recovery in the still moribund home-construction industry.
RETAIL: Brecht Brothers Are Passionate About Cars
Tim Brecht was back at work on a Monday after spending the night at a major Southern California traffic artery. Brecht had parked his motor home in a spot near Interstate 5 on the grade of Tejon Pass, aka the Grapevine, midway through his drive home from Northern California.
In an extraordinary exhibition called “Here Not There” at the Museum of Contemporary Art San Diego, Associate Curator Lucia San Roman claims: “I had no point to make other than that San Diego is in fact made of distinct groupings of artists. Metaphorically, I think of them as a group of satellites. They may know each other, but don’t really overlap.”
There’s no question that something has to be done about the decades-old firetrap our city’s political leaders and bureaucrats call home. The present City Hall is undeniably overcrowded, obsolete and unsafe physically.
EDUCATION: Training Programs Give Students Guidance in Art of Selling
Local sales coaches and consultants are making it their mission to help professionals rethink and fine-tune sales strategies in the midst of a terrible recession that has shattered bottom lines and slowed accounts receivable.
Stephen L. Weber is the seventh president of San Diego State University in its 113-year history.
EDUCATION: Specialty Programs Give Students Flexibility for Career Goals
The M.B.A., or Master of Business Administration degree, is in big demand these days as students with and without management experience look to polish their resumes in an unsteady job market.
WORK FORCE: Colleges Endeavor to Fill Demand For More Complex Skills
San Diego universities and colleges are responding to major changes in the economy by creating new programs of study designed to help students qualify for jobs that likely didn’t exist a few years ago.
Joe Horiye is executive director of Local Initiatives Support Corp. LISC-San Diego invests financial resources and community economic development expertise to revitalize neighborhoods and create desirable communities in which to work, do business and raise families.
Ground Breaking: San Diego Miramar College’s Arts and Humanities Building and Business and Mathematics Building
The Arts and Humanities Building will consist of 45,000 square feet of new construction, including space for English, visual arts, music, speech and foreign language classrooms.
Thomas J. Fine is president and chief executive officer of J.E. Moore Consulting Inc., a design and construction management consulting firm.
Sunrise Bank, which merged four smaller community banks into one bank this year, is finding more isn’t necessarily better.
A new report by the local office of brokerage firm Cassidy Turley BRE Commercial notes that of all U.S. regions, the West accounts for the largest share of nationwide commercial property loan distress.
Friday, August 20
Halozyme Therapeutics said Aug. 12 that it received a U.S. patent for a protein.
The Arizona Superior Court has sided with Trigild, ruling that the San Diego-based receivership and loan recovery services firm can sell seven distressed Arizona apartment complexes for $123 million to Standard Portfolio.
San Diego County’s jobless picture got worse in July with the unemployment rate rising to 10.8 percent, up from a revised 10.5 percent in June.
Sempra Energy said Aug. 19 that it will pay a 39-cent dividend for each share of common stock.
Thursday, August 19
Buffets Inc., the parent of HomeTown Buffet, said Aug. 18 it is transforming all 10 of its San Diego restaurants with “an entirely new look and feel, with updated design and fresh, new décor.”
Wednesday, August 18
First PacTrust Bancorp Inc., parent of Chula Vista-based Pacific Trust Bank, reported Aug. 16 a second-quarter net loss of $2.5 million, compared with a net profit of $685,000 for the like quarter of 2009.
Atlanta-based Wood Partners LLC, which develops multifamily projects, has purchased a 5.9-acre apartment site in San Diego’s Kearny Mesa area, where it plans to build a 379-unit luxury apartment community.
Monday, August 16
The Port of San Diego will hold a series of public meetings to review the latest revisions to the North Embarcadero Visionary Plan, covering proposed future development of downtown’s waterfront area.
Escondido is in the middle of an approval process to build a professional baseball stadium for the relocating Portland Beavers Triple-A team.
FINANCE: Early Stage Firms Getting Lion’s Share of Money
Venture money going into San Diego-based companies continued to lag in the second quarter compared with the pre-recession years, with $171 million invested, most of it going to firms connected to the life sciences sector.
TELECOM: Industry Shrinks as Fewer Firms Expand, Relocate
Bruce Madden said his company’s recent acquisition of failed Teldata Enterprise Networks was an incredible bargain.
REAL ESTATE: Marketing, Price Adjustments Help Move Condo Inventory
San Diego County home sales spent the first half of 2010 on a decided upswing compared with a year ago. But the recovery has benefited detached single-family homes much more than attached units such as condominiums.
And the winner of the most recent San Diego 48 Hour Film Project is (the envelope, please!) …
REAL ESTATE: Company Leads Growth Trend Among Educational Organizations
Already among the region’s largest employers, San Diego-based Bridgepoint Education Inc. will begin operations later this month in its sixth location in the city.
ENERGY: Facilitated By SDG&E Incentives, Project Saves School $900K a Year
Energy Dashboard, a research project at UC San Diego, is helping to conserve energy on the campus by allowing students, faculty and administrators to continually monitor the electricity being consumed.
Torrey Pines Bank, a locally based institution with about $1 billion in assets that had planned to open a full-service branch in Los Angeles a year ago, obtained approval from regulators last week to open its eighth office Aug. 4, its first outside of San Diego County.
WORK FORCE: UCLA Basketball Coach’s Wisdom Inspires Business Consultant
In order to make companies more efficient and profitable, The180Group LLC founder Peter O’Sullivan finds that it’s not enough to work with management.
GOVERNMENT: State Already Ensures Fair Access Regardless of Marital Status
San Diego may soon join a growing list of cities requiring municipal contractors to provide their employees involved in domestic partnerships the same workplace benefits offered to married workers.
San Diego County has one of the nation’s largest concentrations of biotech firms — more than 500 companies generating an estimated $9 billion impact on the local economy. But its size couldn’t overcome what was a lackluster second quarter for the sector when it came to property leasing activity.
California Bank & Trust, the largest bank based in San Diego, has continued on a profitable path this year, reporting $14 million in net income for the second quarter, compared with $18.8 million in net profit for the like quarter of 2009.
Yukon Palmer is president of Field Technologies, the provider of FieldLogix, a green GPS fleet management product that helps companies reduce their fossil fuel consumption, and particulate emissions.
Darrah DiGiorgio Johnson is president and chief executive officer of Planned Parenthood of San Diego & Riverside Counties, a provider of reproductive health care, sex education, and advocacy.
TECHNOLOGY: Tablet Computers Emerge as Next Generation Business Tool
Who knew a slim computer with a 9.7-inch display would be such a big hit?
TECHNOLOGY: PPH Is First U.S. Hospital System to Try Tablets
Pairing tablet computing and wireless communication has the potential to push health care into new realms of quick and portable access to information and response, and San Diego stands to be at the epicenter.
Rory Moore is the chief executive officer of CommNexus San Diego and was the seed round investor, co-founder of Peregrine Semiconductor Corp., one of the world’s leading providers of radio frequency integrated circuits. He was the seed round investor and CEO of Silicon Wave Inc., owned by Qualcomm Inc. Moore surfs, scuba dives and flies unlimited aerobatics.
EDUCATION: College Instructors Find New Ways To Lecture With E-Devices
For the past several years, Beth Simon has been trying to make the case that tablet computers can do wonders to improve teaching effectiveness by bringing more student interactivity to the classroom.
Sloan Gibson, president and chief executive officer of the national USO, is being honored by United Through Reading at its Storybook Ball scheduled for Nov. 14 at the Hyatt Regency La Jolla at Aventine.
A congresswoman from Nevada recently introduced legislation dubbed the Community Recovery and Enhancement Act of 2010 to provide short-term tax incentives to jump-start reinvestment in commercial real estate.
INTERNATIONAL TRADE: Companies in San Diego, Canada Working Together on Science and Technology Projects
The San Diego region’s Canadian Consulate is making its presence felt by fostering partnerships between local and Canadian companies, particularly in the fields of science and technology.
Friday, August 13
Shirley Horton, a former member of the California Assembly and former Chula Vista mayor, will leave her post as president of the Downtown San Diego Partnership later this month.
San Diego-based DR Systems Inc., which provides information technology to hospitals, said Aug. 11 that it received six contracts totaling $2.33 million.
Excel Trust Inc., a San Diego-based real estate investment trust, posted a net loss of $1.8 million for the quarter ending June 30.
Thursday, August 12
Colorado-based Destination Hotels & Resorts is the new manager of the 462-room Paradise Point Resort & Spa in San Diego, the company said in an Aug. 11 statement.
Wednesday, August 11
CareFusion Corp., a San Diego-based medical device manufacturer spun off last year from Cardinal Health, said Aug. 10 it plans to cut 700 jobs from its global work force including 180 in the San Diego area in a restructuring effort to reduce costs.
NextWave Wireless Inc., which announced earlier this month it is selling the remaining 65 percent of PacketVideo to NTT Docomo for a net gain of $107 million, reported Aug. 10 a second quarter net loss of $71.2 million.
Tuesday, August 10
Cypress Bioscience Inc., a San Diego-based drug maker, has shaken things up, taking significant actions recently in a strategy of reducing costs, conserving cash and focusing on other drug development.
Monday, August 9
The San Diego North Convention & Visitors Bureau, which promotes hotels in northern San Diego County, announced Aug. 6 it is finalizing plans to contract sales and marketing efforts with the San Diego Convention & Visitors Bureau.
Charles Lundy is president of Mexico Insurance Services Inc., a provider of insurance to travelers going to Mexico.
Where you work can be stressful, but stress is not always a problem. A certain amount of stress provides better thinking and actions among workers.
As a businessman, I know firsthand the stress and hardships of owning your own business.
M*A*C Cosmetics, through its charitable M*A*C AIDS Fund, announced a $50,000 grant to Mama’s Kitchen, which is celebrating its 20th anniversary this year
The Facility Master Plan and 16th Street Precise Plan are guiding the revitalization of San Diego City College to redefine the college as a pivotal member of downtown San Diego’s core through enhancement of green space, pedestrian access, creation of academic neighborhoods and development of the campus’ peripheral image.
Antonio V. Pizano is president and CEO of MAAC Project, a multipurpose social services agency that focuses on promoting self-sufficiency for low- and moderate-income families through nutritional and home weatherization and improvement programs, affordable housing complexes and a charter school.
Michael R. Doerr is founder and president of Air2Air Corp., a short-range air charter airline established in 2008, which provides on-demand air travel. Air2Air currently operates out of San Diego airports, primarily McClellan-Palomar Airport and Montgomery Field.
TRANSPORTATION: Executive Drivers Go the Extra Mile on Cushy Rides
Whether it’s arranging trips to distant offices for meetings and conferences or taking a spur-of-the-moment ride home after some corporate wranglings, private drivers and private cars are a luxury that business travelers can’t live without.
MARKETING: Train Operators Toot Their Horns About Services
Business people in San Diego are increasingly using intercity and commuter rail to get to and from their jobs in Orange County and Los Angeles.
HOSPITALITY: Corporate Aircraft Still Offer Flexible Alternative to Airlines
San Diego-area charter aircraft operators hired for corporate executive travel are facing headwinds as the economy has prompted companies to hire smaller, less expensive jets or choose more economical modes of transportation.
Finding investors for a bank these days is about as tough as finding a happy banker, but one community lender has apparently convinced several private equity groups that it’s going to be a long-term winner.
How to turn San Diego’s downtown waterfront into a vital hub for arts and entertainment will be a key focus of a conference — dubbed “Art in the City” — set for Sept. 4, sponsored by the Urban Land Institute’s San Diego/Tijuana District Council.
REAL ESTATE: Properties In Multifamily Segment Getting Multiple Bids
Potential sellers of well-located San Diego County apartment buildings in 2010 likely have been seeing things differently from their counterparts in other real estate segments, such as offices and hotels.
INTERNET: San Marcos Biz Posts Promotional Videos For Free, Offers Paid Extras
In an effort to establish its own business niche, HandBookLive has created a Web site for companies that want to use online videos as marketing tools that showcase their products.
Darlene Shiley and Shelley Zimmerman will receive top honors during San Diego’s 17th annual Women Who Mean Business Awards on Oct. 28.
GOVERNMENT: Debates On Location, Security Issues Expected at Future Forums
With conditional support slowly building among city officials and the business community, advocates are moving closer to establishing a one-stop service center that would partially relieve downtown San Diego’s chronic homeless problem.
HOSPITALITY: Higher Occupancies Could Take Awhile to Register as Profits
San Diego County hotel operators had reason to breathe a sigh of relief at the halfway point of 2010, with industry indicators pointing to rising occupancy rates, as revenue emerged from its free fall of the past several months.
Well, there is some encouraging news here and there on the job hunting front.
ENERGY: Water-Saving Machines Wash Big Loads For Commercial Customers
Two San Diego executives who made their names in the real estate and hospitality industries are getting into the laundry business.
FINANCE: Realty Income Provides Safe Harbor for Investors, CEO Says
Some people may have been puzzled by the recent announcement that Realty Income Corp., the Escondido-based real estate investment trust that’s been focused on retail properties for 40 years, would be acquiring Napa Valley winery holdings from Diageo PLC for $269 million.
TRANSPORTATION: All Charged Up, County Is Early Adapter
The folks in charge of rolling out a network of electric car battery charging stations in San Diego over the next few months aren’t shy about talking of the magnitude of the task.
SPORTS BUSINESS: Firms Get 15 Minutes to Impress Potential Investors
There was a day when he stood up to pressure on a basketball court. Today, Bill Walton is a coach, talking executives through another type of pressure: Standing before potential investors and making a 15-minute pitch about why one of them should fund their young business enterprises.
Friday, August 6
The field of architectural teams in the running to design a proposed, $750 million expansion of the San Diego Convention Center has been narrowed to five.
San Diego-based Jack in the Box Inc. reported net profit of $24.2 million for its third quarter ended July 4, up from the net profit of $19.9 million reported in the like quarter of 2009.
Rubio’s Restaurants, which is being acquired by Mill Road Capital of Connecticut for $91 million, reported Aug. 5 a second quarter net loss of $387,000 on revenue of $48.5 million.
Health care leaders broke ground Aug. 5 on a $185 million proton therapy center that Scripps Health will use to treat cancer patients.
Thursday, August 5
A cross-border airport terminal connecting Tijuana’s Rodriguez International Airport with Otay Mesa received a much-anticipated presidential permit, according to the South County Economic Development Council.
Sunstone Hotel Investors Inc., which last year stopped making loan payments on the W Hotel in downtown San Diego, is now looking to acquire a controlling stake in the Manchester Grand Hyatt.
St. Bernard Software Inc., a maker of security software, said Aug. 4 it acquired all the assets of Red Condor Inc., a provider of managed e-mail security software.
Tuesday, August 3
Sempra Energy, the corporation that runs local utilities as well as unregulated energy businesses, reported second-quarter earnings of $222 million on revenue of $2 billion.
Bridgepoint Education Inc., the for-profit provider of online college classes based in San Diego, reported second quarter net income of $35.3 million compared to net income of $1.3 million for the like quarter of 2009.
PacketVideo, the main subsidiary of San Diego’s Nextwave Wireless Inc., said it is selling the remaining 65 percent of the company to Japanese carrier NTT Docomo Inc. for $111.6 million, the companies said Aug. 1.
Monday, August 2
FINANCE: Patent Reforms, Wavering VC Activity Rein In Big Pharma Buyouts
Mergers and acquisitions in the biotech industry have come at a slower than expected rate during the economic downturn.
FINANCE: Wave of Stem Cell Funding to Replace Stimulus Void
Nonprofit biotech research is a robust sector in San Diego, and grant recipients leading the way include a constellation of well-known names such as The Scripps Research Institute, UC San Diego, the Salk Institute for Biological Studies and San Diego State University.
PHILANTHROPY: T. Denny Sanford Shares His Fortune Made in Finance
Although T. Denny Sanford came late to the party that is San Diego, he arrived with the resounding boom of $100 million in donations to scientific and medical research that will echo for decades to come.
Leane Marchese is executive director of ElderHelp of San Diego, a provider of free personal assistance to seniors to help them remain in their own homes and communities.
Allan Camaisa is chief executive officer of Anakam Inc., a provider of authentication solutions for government, banking, health care and commercial institutions. Camaisa is also publisher of a Christian magazine, Risen.
Play ball! That may be the sound coming out of Escondido pretty soon if the City Council decides to enter into an agreement with the San Diego Padres to build a new $45 million baseball stadium for the Padres’ Triple-A baseball club.
It may not have the star power of the past, when the likes of Steffi Graf, Jennifer Capriati, Martina Hingis and Venus Williams drew crowds, but this year’s Mercury Insurance Open features plenty of top tennis talent.
There’s still plenty of financial distress in the U.S. commercial real estate market, and a continuing “pretend and extend” approach by many lenders who haven’t pulled the trigger on borrowers behind on payments.
In the earlier part of the decade when the economy was roaring, Silvergate Bank retreated from lending, saying the underlying real estate values were rising far beyond the norm, and deals represented too high a risk.
NEW MEDIA: Tech Veterans Bring Targeted Restaurant Promotions to Market
A San Diego startup is harnessing the power of cell phones to boost traffic to restaurants, providing discounted deals when and where the eateries determine those discounts make the most sense.
Connect has named Camille Sobrian as its president.
MARKETING: Measure Before City Council; Ads on Lifeguard Towers
“This day at the beach is brought to you by The Coca-Cola Co.”
San Diego-based grower Andrew & Williamson Sales Co. Inc., or A&W, is participating in Fresh & Easy Neighborhood Market Inc.’s “Farm to Store in 24” program, which seeks to get fresh produce to customers in the shortest amount of time.
MANUFACTURING: Golf Club Maker Says Strategy Was Initiated in 2006
Callaway Golf Co.’s announcement last week of a global restructuring — which slashes most of its assembly line work in Carlsbad and moves it to Mexico — is part of a reorganization the company started in 2006 and has little to do with the lousy economy, the company said.
REAL ESTATE: Commercial Side Not Faring as Well Locally
San Diego County residential construction led a continued rebound in overall building activity during the month of June, helping the region post an overall 24.9 percent increase in new permit valuations from June 2009.
MANUFACTURING: Business Says It Expects Rapid Expansion
Energy Innovations Inc., the latest solar energy company to set up shop in the area, has ambitious plans for its new 60,000-square-foot plant that officially opened in south Poway last month.
ENERGY: SDG&E’s Knight Reflects on the Future and Where He Is Headed With Local Utility
The electric utility industry is transforming, Jessie Knight maintains, making a shift as marked as the one corporations made when they put their electric typewriters into storage and brought in personal computers.
Even though Juan Cabrillo initiated Western civilization in San Diego in 1542, the irony of San Diego is that it is perceived as a new city, at least in terms of its urban development. It is because of this that the city has become zealous about preserving the old.
The Rancho Santa Fe Women’s Fund awarded eight grants totaling $260,055 to nonprofit organizations in San Diego County.
The San Dieguito Academy Performing Arts Center is a 17,120-square-foot facility that will incorporate theater and music wings to serve the needs of both drama and music students.
DEFENSE: Contract Worth More Than $30M for Builder
At 114 feet long, it’s a small craft in the U.S. Navy fleet.