Stories for November 2010

Tuesday, November 30

Northrop Grumman Leases New Space in Rancho Bernardo

Defense contractor Northrop Grumman has leased more than 93,000 square feet in The Point, an office complex in Rancho Bernardo.

Optimer Files New Drug Application With FDA

San Diego-based Optimer Pharmaceuticals Inc. said it has filed a new drug application to the U.S. Food and Drug Administration for fidaxomicin to treat patients with Clostridium difficile infection.

Monday, November 29

Waiting for Takeoff

TRANSPORTATION: Lindbergh Field Gears Up to Support Corporate Aircraft

San Diego International Airport is in the midst of extensive renovations to boost commercial air traffic, with a $1 billion expansion expected to be completed in 2013.

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Connecting With the Past and the Present

TECHNOLOGY: Company Makes It Possible for Public To Join Scientific Expedition

San Diego has a long tradition of being a creative hub for digital media, and one local company has profited by contributing technical and artistic expertise to a business venture in which the National Geographic Society and UC San Diego academics play pivotal roles.

New Airline Could Begin Flying In March at McClellan-Palomar

ENTREPRENEUR: Ted Vallas Plans Upstart California Pacific Airlines

A new regional airline is about to take flight from the 51-year-old, 480-acre-plus McClellan-Palomar Airport in Carlsbad, while residential neighbors and the airport continue their squabble over noise and what can be done to reduce it.

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Blue Sky to Help Red Crescent Navigate in Remote Terrain

TECHNOLOGY: Tracking System Creates Vital Links Between Aircraft and Bases

Blue Sky Network, a San Diego company that provides Global Positioning System tracking and communication solutions for land, sea and air, has reached an agreement with the Red Crescent Society of Saudi Arabia to install aviation tracking devices in a fleet of first-aid helicopters.

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A New Day for Fundraising Thanks to Personalized Product

MARKETING: Calendars Are Customized, Giving Groups a Way to Profit

The “Calendar Guy” is turning a new page as a new year approaches. San Diego entrepreneur John Conover, the self-proclaimed Calendar Guy who’s known on both coasts for his regional tide calendars featuring ocean photography and easy-to-read tide charts, is charting a new business direction.

Revenue Rises, Profits Fall at Jack in the Box

Jack in the Box Inc. reported on Nov. 22 that it had fiscal fourth quarter net profit of $4 million, compared to net profit of $40.6 million for the like period of 2009 as the fast food chain closed 40 of its restaurants, and took a pretax $28 million charge for that move.

UV Light-Based Device Disinfects Health Facilities

HEALTH CARE: PPH An Early Adopter of Tool That Combats Infections

Palomar Pomerado Health has seen the light — ultraviolet light, that is — when it comes to the business imperative of disinfecting surfaces at one of its hospitals and one skilled nursing facility.

Landings at Lindbergh an Extreme Sport

The popular History Channel ranked the 10 “most extreme” commercial airports recently, and the San Diego International Airport, aka Lindbergh Field, touched down at No. 10.

Making a Splash

TOURISM: SeaWorld’s New President Will Guide The Park Through Changes

When John Reilly took a part-time food-service job at Busch Gardens Williamsburg 25 years ago, little did he know that it would lead to a series of key leadership roles across the country with the theme park operator.

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Good Work, Good Works From Women Who Mean Business

The San Diego Business Journal Women Who Mean Business Awards luncheon was held on Oct. 28 at the Town and Country Resort Hotel & Conference Center.

Business Heats Up for Solar Electric Power

ENERGY: Borrego Solar Arranges $36M Power Purchase Agreement

Borrego Solar Systems Inc. lined up a $36 million financing deal recently that will help the company construct and operate six solar energy projects for two customers through the use of a power purchase agreement.

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It’s Change for the Better in New Parking Meters

TECHNOLOGY: Devices Accept Credit Cards and Operate on Solar Power

For decades, motorists have scrambled to find the appropriate change to feed parking meters once they reach their destinations, but a San Diego firm has come up with a high-tech solution that eliminates the need for carrying coins

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Put Incentives to Work In Government Budgets

Much debate is being discussed these days on how to reduce the deficit. Allowing tax cuts to expire, freezing the U.S. Department of Defense budget, increasing taxes on the “rich,” are all being proposed as solutions, although none of them have the capability to reduce the deficit solely.

An Internet App for Art and Culture

It is 2010 and the world is so inextricably interconnected that cultural and economic isolationism is unthinkable, even if it were desirable.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

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Professional Profile: Paul Robinson

Paul Robinson is an attorney and senior partner at Hecht Solberg Robinson Goldberg & Bagley LLP. Robinson was appointed to the San Diego County Regional Airport Authority board by Gov. Arnold Schwarzenegger earlier this year.

Extension of McClellan-Palomar Runway Still Far on the Horizon

CONSTRUCTION: Push For Direct Overseas Flights Offset By Noise Concerns

San Diego International Airport may be getting the lion’s share of media attention with its $1 billion “Green Build” expansion project, but don’t overlook the activities under way at Carlsbad’s McClellan-Palomar Airport.

An Internet App for Art and Culture

Commentary

It is 2010 and the world is so inextricably interconnected that cultural and economic isolationism is unthinkable, even if it were desirable.

Put Incentives to Work In Government Budgets

Commentary

Much debate is being discussed these days on how to reduce the deficit. Allowing tax cuts to expire, freezing the U.S. Department of Defense budget, increasing taxes on the “rich,” are all being proposed as solutions, although none of them have the capability to reduce the deficit solely.

Pair of Lawsuits May Complicate Downtown Redevelopment Plans

The debate over raising the funding cap for San Diego’s downtown redevelopment agency may not be over after all.

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Union Bank Sets Lofty Goal to Be First-Rate SBA Lender By 2015

Now that the federal government has pumped an additional $30 billion into small-business lending, while increasing the maximum loans guaranteed by the U.S. Small Business Administration to $5 million and extending 90 percent loan guarantees to the end of this year, more banks are getting on board with the program.

Regional Report

News and notes from communities around San Diego County

Friday, November 26

TurboTax to Receive Otterson Award

Connect, the La Jolla-based business accelerator, will present its 2010 William W. Otterson Award to TurboTax during a luncheon in early December.

Wednesday, November 24

Attorney Joins Junior Achievement Board

Marie C. Mendoza, a partner with GCR LLP, has been named to the board of directors of Junior Achievement of San Diego & Imperial Counties.

Zogenix Shares Go Out at $4

San Diego-based biotech Zogenix Inc. on Nov. 23 launched its initial public stock offering of 14 million shares at $4 apiece, which was below prior projections. They closed the day at $3.98.

Health System’s Programs Merit ‘Blue’ Rating

The UC San Diego Health System has been designated as a Blue Distinction Center for Spine Surgery as well as for Knee and Hip Replacement.

Tuesday, November 23

British Army Turns Again to Cubic

Cubic Corp. said Nov. 23 its Defense Applications segment was awarded a follow-on contract from the British army worth more than $30 million.

Profits Fall Sharply at Jack in the Box

Jack in the Box Inc. reported on Nov. 22 that it had fiscal fourth quarter net profit of $4 million, compared to net profit of $40.6 million for the like period of 2009.

Monday, November 22

New Hospital At Center of $2B Project

Scripps Health will build a $2 billion regional medical campus in La Jolla as part of a 25-year master plan. In a Nov. 17 announcement, the San Diego-based nonprofit community health system said it will rebuild the existing Scripps Memorial Hospital La Jolla, as well as construct research labs and physician offices.

This Great Country Runs Best on Optimism, Not on Fears

The election is over! Well, for the most part anyway.

Professional Profile: John Lormon

John Lormon is a partner and head of the Clean Tech Energy and Climate Change Practice Group at the law firm Procopio, Cory, Hargreaves & Savitch LLP.

Regents Bank Gets Fresh Start By Selling $10.8M in Problem Loans

Regents Bank took a different approach to dealing with a surge of problem loans that ballooned to more than $7 million in the second quarter: It sold them off.

Bridgepoint’s Local Footprint to Expand at Second Sunroad Building

One of San Diego’s largest employers — and also one of its biggest users of local office space in six locations — has plans to broaden its real estate footprint even further.

Regional Report

News and notes from communities around San Diego County

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Consumer Inaction Still Affecting Retail Space Scene

REAL ESTATE: Smaller Centers Vie for Tenants; New Sites Are a Rarity

New retail construction remains a rare sight in San Diego County, as developers and store chains take their cues from shoppers who have yet to return to their pre-recession spending habits.

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Convention Center Expansion Plan Tallies Up $698M Annual Impact

HOSPITALITY: Adding Exhibit, Meeting Space to Spur Jobs, Tax Revenue

Expanding the San Diego Convention Center could yield an economic impact of $698 million annually — accommodating the growing use of the center while attracting new users who have not held events there because of the facility’s space limitations, officials said.

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Qualcomm, Institute Have Sense of Moms’ Health Needs

TECHNOLOGY: Device in Wireless Pregnancy Remote Monitoring Kit Creates Buzz

A new San Diego-based collaboration focused on mobile health in remote parts of Mexico is looking to better connect health care providers to expectant mothers dealing with high-risk pregnancies.

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Hotel Developers Reach the Moment of Truth

HOSPITALITY: Casino Sees 108-Room Tower as A Gamble Worth Taking

Operators of San Diego County’s newest luxury hotel, which was set to debut Nov. 19 adjacent to the American Indian tribal-owned Valley View Casino in Valley Center, say they’re bullish on the property’s long-term prospects.

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Thrift Sees Opportune Time for Lending Expansion

BANKING: $60M Capital Infusion, Regulatory Changes Create Right Conditions

The new chief executive of First PacTrust Bancorp Inc. said the company will use part of the $60 million in capital it raised recently to expand into commercial lending and augment its existing mortgage lending business.

Couple’s Meter Rates High With SDG&E

Back to the future? On Nov. 15, San Diego Gas & Electric Co. managers and guests presented the utility’s one millionth smart meter to David and Leilani Ross in Paradise Hills, the very same folks who received a gold plated spinning meter for being customer No. 500,000 way back in 1971. What are the chances of that?

Chargers: Sale Doesn’t Mean They’re Bolting

SPORTS BIZ: Plan to Sell 36% Stake in Team Could Send Club To Los Angeles, Some Speculate

Last week’s revelation that Alex Spanos, owner of The San Diego Chargers, was selling his 36 percent share of the team set off yet another wave of speculation that the football team would soon be packing for Los Angeles.

Firm Gives Used Lab Equipment a Second Chance

LIFE SCIENCES: Marketer Plays Role in BioSurplus’ Efforts to Expand Sales

BioSurplus Inc., which sells used laboratory equipment such as microscopes and centrifuges, has hired a veteran San Diego marketing professional to help the company scope out new business opportunities.

Clean Cluster

CLEAN-TECH: Ranked 7th Globally, Trade Association To Host International Event Nov. 30 on USD Campus

San Diego’s clean-technology business owners and supporters will find themselves in good company Nov. 30 at an international summit of high-power attendees from four countries working in a range of fields, including water, solar, transportation and biofuels.

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Big-Box Stores Fit Into Retail Pattern

The big-box reductionists are at it again! At a moment in our city’s fiscal history where every dollar of revenue kept or added means something to our strapped city treasury, your San Diego City Council majority has voted to lay an additional layer of scrutiny on big-box retailers like Wal-Mart Stores Inc., should they propose to add or expand a store in our community.

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Grants Give ‘Neighborhood Builders’ More Tools for the Task

The Bank of America Charitable Foundation announced grants totaling $450,000 through its Neighborhood Excellence Initiative.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

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Executive Profile: Ernie Hahn

Ernie Hahn is the general manager of AEG Management San Diego, an organization that operates the Valley View Casino Center, formerly the San Diego Sports Arena.

Changes Have Made the Office a Work (Space) in Progress

WORK FORCE: Technology And More Casual Attitudes Are Part of Transformation

The long-coveted corner office is dead.

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Health Centers Make Leading Commitment to Green Design

CONSTRUCTION: Sustainable Environments Impact Quality of Life

When officials at La Maestra Community Health Centers started planning a new facility in the City Heights neighborhood, they had a directive for designers and construction crews: Make it as green as possible.

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Companies Must Consider the Highs and Lows of Naming Rights

MARKETING: Branding on Buildings, Ballparks, Other Sites Brings Exposure

For many companies, the issue of what’s in a name takes a back seat to the matter of where its name is posted for all to see.

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Friday, November 19

UC San Diego Plans $269M Addition to Medical Campus

The University of California Board of Regents has approved the budget for capital improvements and external financing for the Clinical and Translational Research Institute building, to be constructed on the medical campus of UC San Diego in La Jolla.

Workshop to Offer Details of Convention Center Expansion

Operators of the San Diego Convention Center will hold the second of two scheduled public workshops on a proposed $700 million expansion of the facility.

Jobless Rate Drops a Fraction as School Gets Under Way

San Diego County’s unemployment rate dropped a half a percent in October to 10.2 percent from September’s revised 10.7 percent, according to the Nov. 19 report from the state’s Employment Development Department.

Guilty Plea in Tax Case Involving Swiss Banks

A San Diego business consultant who opened a bank account with UBS, first in the Bahamas and later in Switzerland under various names, pleaded guilty Nov. 18 in a San Diego federal courtroom to filing a false tax return, according to the U.S. attorney’s office.

Thursday, November 18

Carnival Ship Towed for Repairs

The Carnival Cruise Lines ship Splendor, which was towed to San Diego after its engine room caught fire and its power was shut off, was again towed from the B Street Pier to the Tenth Avenue Marine Terminal on Nov. 18 so that it can be repaired.

BBVA Compass Names Private Banker

BBVA Compass, a bank based in Birmingham, Ala., said Nov. 18 that Lucy von Buttlar was appointed senior vice president and private banker for the Southern California region.

Prime Healthcare Buys Alvarado Hospital

The owner/operator of 13 acute-care hospitals in California said it has purchased Alvarado Hospital in San Diego.

Wednesday, November 17

Scripps Health Unveils $2B Improvement Plan

Scripps Health will build a $2 billion regional medical campus in La Jolla as part of a 25-year master plan.

Maas Leaving CCDC

Fred Maas is stepping down as board chairman and interim president of the Centre City Development Corp., the city of San Diego’s downtown redevelopment agency, also known as CCDC.

Regents Bank Reports Net Income, Clean Slate

Regents Bank, based in La Jolla and with five offices, reported net income of $830,000 for the third quarter, compared to net income of $278,000 for the like quarter of 2009.

Tuesday, November 16

Cubic to Buy Security Firm

Cubic Corp., the San Diego-based defense contractor and provider of mass transit fare collection systems, said Nov. 16 that it is buying Abraxas Corp. for $124 million in cash.

Sanford-Burnham Receives $1M Pledge

San Diego businessman and philanthropist Arthur Brody has pledged $1 million to the Sanford-Burnham Medical Research Institute to help translate basic science discoveries into new treatments.

Monday, November 15

Bridgepoint to Lease in Second Sunroad Tower

Bridgepoint Education announced on Nov. 12 that it has signed a build-to-suit lease for Sunroad Centrum II, an eight-story office building soon to be constructed by Sunroad Enterprises in San Diego’s Kearny Mesa submarket.

Medical Association Honors ‘Trailblazer’

Dr. David L. Chadwick, known in San Diego County for his work in child abuse treatment and prevention, was recently awarded the Scientific Achievement Award by the American Medical Association.

Nonprofit Profile: Brian Maienschein

In January 2009, Brian Maienschein was selected as the first commissioner of the Plan to End Chronic Homelessness. Brian was elected to the San Diego City Council in 2000 and re-elected without opposition in 2004.

Expo to Showcase Medical Device Innovation

LIFE SCIENCES: Biocom Event Offers Chance for Local Firms To Impress Venture Capitalists

San Diego has a long tradition of being a nerve center for medical device innovation, and some of the more promising new devices and diagnostic tools on the market — or nearing commercialization — could be front and center this week in La Jolla.

REIT Makes Science Out of Buying Property

REAL ESTATE: BioMed Seeks Deals in Major Research Hubs; Reports Record Revenue in Q3

This has been an eventful year in the life of BioMed Realty Trust. The company competes primarily in a specialty sector — life sciences real estate — that itself has seen an unusual number of high-profile acquisitions and corporate stock offerings just in 2010.

Kensington Event Will Bring Back A Part of the Past

After a year of bickering, Kensington’s gateway sign is to appear again above Adams Avenue.

Multifamily Market Is Real Estate’s Big Draw

APARTMENTS: Available Capital, Demographics Encourage Investments

Abundant sources of cheap financing combined with relative scarcity of supply, to meet that demand for apartments, have made multifamily real estate this year’s most robust commercial property investment sector in San Diego County.

Convention Center Design Team Chosen

The executive board of the San Diego Convention Center Corp. has picked a team that includes Fentress Architects, John Portman & Associates Inc. and Civitas Inc. to design a proposed $700 million expansion of the downtown facility.

Company Knows Internet Users have Something to Hide

TECHNOLOGY: Service Protects Personal Data From Pitfalls of the Web

While surfing the Internet would seem to be a fairly innocuous activity, it’s a cold, cruel world out there in cyberspace where potential danger lurks behind almost every click.

With the Federal Stimulus, Employers Find That Job Training Pays

WORK FORCE: Uncle Sam Reimburses 84 Companies; Program Has $500,000 Left

As Energy Innovations Inc. expands its staff since its launch in July, the Poway manufacturer of solar modules is getting some help in the form of federal government subsidies for the new jobs it’s creating.

Saving the Environment Is Big Part of These Business Plans

Environment: Going Green Strategies Shared at Conference

Local business owners described the greening of their own operations — and how other companies can follow suit — at the recent Bright Green Future Conference, which was held at UC San Diego.

Regional Report

News and notes from communities around San Diego County

News and notes from communities around San Diego County

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Bank Moving on to Merger After Lifting of Order

Torrey Pines Bank, based in Carmel Valley and with more than $1 billion in total assets, got some good news last month when a consent order from the Federal Deposit Insurance Corp. was terminated.

Public Plaza Plan Makes People a Key Part of Horton Plaza Makeover

Redevelopment leaders have begun discussions of what would be a $35 million makeover of downtown San Diego’s Westfield Horton Plaza.

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Home Builders Use Incentives to Help Seal Deals

HOUSING: ‘Interest Rate Buy-Downs’ and Other Discounts Are Offered

Responding to a sluggish market, some area home builders are offering a variety of financial incentives to spur sales, some of which sound almost too good to be true.

These Resources Are the Tools to Take Businesses to Next Level

WORK FORCE: People Need to Know Where To Look for Assistance

With the vast majority of minority-owned businesses operating as one-person companies, the challenge of finding help with everything from legal structure and knowing how to keep records to getting positioned to bid on government and agency contracts often comes down to finding help that fits into a working schedule.

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Success Stories: Minority Business Groups Share Their Experience

Work Force: Valuable Guidance Is Given to Individuals, Companies

Minority-owned businesses may not be using all the resources — such as professional associations — that can help them succeed. Expanding a business is always difficult and never more so than in the midst of a long-running economic slump.

Executive Profile: Debra Rosen

Debra Rosen is the president and CEO of the San Diego North Chamber of Commerce, an organization that represents over 800 businesses and 150,000 working San Diegans.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

Foundation’s Mission of Giving Touches the Lives of Children

Voices for Children received a $1 million grant from the Leichtag Family Foundation which will be paid out over a three-year period and coincides with Voices’ 30th anniversary in service to San Diego foster children. Grant funds will allow for program growth as well as expansion of fundraising capacity and agency infrastructure.

Prescriptions to Help Cure San Diego’s Financial Ulcer

Now that nearly two out of three San Diegans who voted November 2 sent the Proposition D sales tax hike proposal packing, it’s time for the city’s political leaders to find fiscal healing and find it pronto.

Put the Skills of Those With Disabilities to Work

Finding a job in our struggling economy is difficult, but if you have a disability, the search for employment is a monumental task.

Government Decides Who Meets Definition of ‘Minority Business’

SMALL BIZ: Data Offer Look at Continued Struggle For Economic Parity

What the common man calls a minority owned business and what the government means when its agencies and officials use the term can be very different notions. In bureaucratic language, the definition is fairly easy. The complexity begins with how to prove it and apply it.

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Charging Ahead

TRANSPORTATION: Chevy Rolling Out Volt Electric Car; Envision Solar Providing Recharging Stations

Electric cars are generating lots of interest among the populace, but concerns related to cars running out of power, or “range anxiety,” are still a formidable hurdle to overcome before that interest can translate into sales, say auto industry analysts.

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Friday, November 12

Speaker Mulls Best Practices in Life Sciences IT

Michael Doyle, president and chief executive officer of Medsphere Systems Corp., will be the featured speaker at the Nov. 19 executive briefing of the Life Sciences Information Technology Global Institute.

Union Bank, KPBS Honor Local Heroes

Union Bank teams up with local public radio and television station KPBS to honor a dozen San Diegans at the annual Local Heroes Awards on Nov. 16 at the Museum of Contemporary Art in La Jolla.

NextWave Chips Away at Net Loss

NextWave Wireless Inc., which sold its remaining interest in its main subsidiary, PacketVideo, in August for a net profit of $107 million, reported Nov. 10 a third quarter net loss of $79.7 million, down from the $100.6 million net loss for the like quarter of 2009.

Wednesday, November 10

Agreement Reached to Advance North Embarcadero Project

San Diego port officials have approved an agreement aimed at advancing plans for North Embarcadero development by boosting the amount of public park space.

Scripps, Kaiser Sign Deal to Collaborate

Scripps Health and Kaiser Permanente have signed a 10-year comprehensive agreement for Scripps to provide cardiac surgery, interventional cardiology and bariatric services to more than 500,000 Kaiser members across San Diego County.

PacWest Bancorp Headquarters Headed to Los Angeles

PacWest Bancorp, parent of San Diego-based Pacific Western Bank with about $6 billion in assets, said in a securities filing dated Nov. 3 that it is moving its corporate headquarters out of downtown San Diego to a Los Angeles address pending approval of bank regulators.

Javo Sees Net Loss in Third Quarter

Javo Beverage Co. Inc., a Vista supplier of dispensable coffee drinks to the food service industry, reported a third-quarter net loss of $1.8 million on gross sales of $7.3 million in a Nov. 10 report.

Tuesday, November 9

Design Team Picked for Convention Center Expansion

The executive board of the San Diego Convention Center Corp. has picked a team that includes Fentress Architects, John Portman & Associates and Civitas Inc. to design a proposed $700 million expansion of the downtown facility.

Sempra Tallies Quarterly Net Income of $131M

Sempra Energy, parent of San Diego Gas & Electric Co. and Southern California Gas Co., reported third-quarter net income of $131 million, or 53 cents per share, compared to net income of $317 million or $1.27 per share, for the third quarter of 2009.

Benefits and Costs of Advanced Illness Care Weighed

Chronically ill patients enrolled in Sharp HospiceCare’s Transitions program experienced improved quality of life, timely referrals to hospice and an overall positive health care experience, according to the most recent data collected since the program’s inception in June 2007.

Monday, November 8

Novatel to Buy Wireless Software Company

Novatel Wireless Inc. said Nov. 8 that it has agreed to acquire Enfora Inc. for $64.5 million in cash, plus a possible future payment of $6 million contingent on meeting certain performance targets.

Hotel del Coronado Debt Goes to Special Servicing

A portion of the debt on the landmark Hotel del Coronado has been moved to special servicing while the property’s owner negotiates a restructuring.

News in Brief

Breaking news from www.sdbj.com

Breaking news from www.sdbj.com

Firm Gives Direction to Clients in Financial Distress

FINANCE: Expertise Used to Analyze Companies’ Present, Plot a Future

Whether it’s because a business is underperforming or experiencing mild to severe distress, Odyssey Strategic Advisory Services’ new clients often don’t feel very well when they come in and would like to see that change.

SeaBotix’s Savvy Offense Helps It Land Valuable Defense Contracts

DEFENSE: Company Uses Location, Expertise and Exposure to Boost Sales

Seizing the home field advantage made sense for SeaBotix Inc., a startup company in a Navy town.

Thinking Big: Small PR Firm Works With Some Intellectual Giants

MEDIA: Company Rises to Challenge of Handling Publicity for Kyoto Prize

Every year, Stephanie Kellems and her staff embark on a project which, in the college environment, might be called an ambitious independent study assignment.

Navigating the Changing World of Real Estate Transactions

Commentary

Over the past year most statistical indicators are showing a decrease in the rate of value decline for real estate, a stabilization of values, or modest increases.

Nice Guy Finishes First in the Eyes of This Organization

Kudos/Giving

Nice Guys San Diego named Peter Farrell Nice Guy of the Year at the 31st Annual Gala on Oct. 16.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

San Diego-based construction manager Barnhart Balfour Beatty joined the Tustin Unified School District at a recent ribbon-cutting ceremony to mark the opening of the new Foothill High School Aquatics Center in North Tustin, near Santa Ana.

Executive Profile — Ruben R. Garcia

Ruben R. Garcia is the U.S. Small Business Administration district director for San Diego and Imperial counties.

A True Leader Should Be Able to Follow These Fine Principles

Business in the North County

When I need to recharge my batteries, I start leafing through the dozens of books in my office on successful leadership and management.

Executive Profile — Deana Carter Ingalls

As principal of Carter Financial, Deana Carter Ingalls offers her knowledge on retirement and executive benefit planning for small to midsize businesses.

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Building Permit Picture Shows Construction’s Comeback Is Moving Slowly

Real Estate

The story of San Diego County construction activity, measured in building permit valuations for new projects, has been consistent throughout 2010.

Restructuring Brings Stability to a Troubled Credit Union

Finance

Talk about downsizing. The folks at North Island Credit Union must feel as though they’ve just gone through the proverbial ringer as the troubled nonprofit lender eliminated some 200 jobs, or 40 percent of its staff, during the past three years.

Regional Report

News and notes from communities around San Diego County

News and notes from communities around San Diego County

Company Offers New Options for Gift Giving

INNOVATION: Plastic’s Buying Power Now in the Hands of Digital Devices

Has plastic become passé? The plastic gift card is starting to go virtual with the help of a local startup.

Qualcomm Revenue Is Up 6 Percent

Qualcomm Inc., the wireless communications technology company, reported $10.99 billion in revenue for the fiscal year ending Sept. 26, a gain of 6 percent from fiscal 2009.

Genomics Targets Treatments to the Letter(s)

LIFE SCIENCES: Genetically Tailored Medicine Could Pay Off

Local companies moving into the field of personal genomic medicine could realize commercial possibilities earning billions of dollars by the next decade.

Room for Improvement in the Office Space Market

REAL ESTATE: Jobless Rate Big Drag on Demand; Tenants Shop for Deals

Bargain-hunting office tenants continued to chip away slowly at San Diego County’s excess office space during the third quarter, though observers note that the direct vacancy rate — at around 17 percent — remains about where it’s been for the past year.

Movie Reviewer Has New Role as Digitaria Exec

A name from the past surfaces for the Insider. Last time I was in touch with whiz writer Tom Siebert, he was cranking out movie reviews for me when I served as editor of the Baltimore Business Journal in the early 1990s.

Industrial Vacancy Rate Stays Historically High

REAL ESTATE: Some Major Deals Involve ‘Flex’ Properties, Which Include Office Space

Skittishness among employers about adding workers to payrolls, in the face of slow spending by consumers, is translating into still low demand for local warehouse and distribution space.

Leap Reports $533 Million Quarterly Net Loss

TELECOM: Wireless Services Provider Says Changes to Business Model Will Pay Off

Leap Wireless International Inc. is apparently undergoing growing pains as it makes changes to its business model, and shifts to providing higher cost services to subscribers.

Combating Childhood Cancer

HEALTH CARE: Institute Seeking $15M Using Approach Known as Hybrid Venture Philanthropy

Beth Anne Baber believes the intellectual capital, business acumen and philanthropic potential in San Diego provide the ideal environment to support the growth of a new institute that focuses on pediatric cancer research, diagnosis and treatment.

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Friday, November 5

British Firm Angles to Buy Bumble Bee

Bumble Bee Foods, the tuna and seafood purveyors based in San Diego, said Nov. 5 that its owner, Centre Partners Management LLC of New York, agreed to sell the business to Lion Capital LLP, a London-based investment firm, for an undisclosed price.

Net Income Rises 17 Percent at BioMed Realty

San Diego-based BioMed Realty Trust Inc., which invests primarily in life sciences-related real estate, posted a 3 percent increase in third-quarter revenue and a 17 percent rise in net income compared with the same year-ago period.

Ligand Gets Federal Funds for Eight Drug Programs

La Jolla-based Ligand Pharmaceuticals Inc. on Nov. 2 said it was awarded nearly $2 million from the federal government to fund research of eight drug development programs.

Yacht Races Headed for San Diego

San Diego Bay will be the site of an international sailing competition called the RC 44 Regattas that will run March 2-6.

Thursday, November 4

Analytics Take the Stage at Supermath Gathering

Smart people will mull mathematical solutions to a number of complex real world problems during the inaugural Supermath conference set for Nov. 10.

Wednesday, November 3

Biogen Idec to Close San Diego Site

Biogen Idec Inc., one of the world’s largest makers of multiple sclerosis drugs, said Nov. 3 that it was restructuring its operations by closing its San Diego site along with two other facilities in Massachusetts.

Tuesday, November 2

CareFusion CEO to Retire

CareFusion Corp., a San Diego-based medical device company, reported Nov. 2 that its chairman and chief executive officer will retire Feb. 28.

Cell Therapy Industry Leaders to Meet

With the goal of highlighting recent commercial achievements, Carlsbad-based Life Technologies Corp. is hosting the second annual Cell Therapy Industry Summit Nov. 3-5 at the Sheraton Carlsbad Resort and Spa.

Agency Poised to Sell Highway Bonds

Transportation bonds for a variety of freeway projects in San Diego that will be issued next week by the San Diego Association of Governments will pay a mere 3.89 percent in annual interest after the bonds qualified for a federal subsidy, said Marney Cox, a Sandag economist.

Bank Sees Loans, Earnings Grow

California Bank & Trust, San Diego’s largest bank with $11 billion in assets, reported third-quarter net profit of $17.4 million, compared to a net loss of $14.5 million in the like quarter of 2009.

Monday, November 1

Security Business Bancorp Reports Uptick in Problems

Security Business Bancorp, holding company of Security Business Bank of San Diego, reported a third quarter net loss of $366,000, compared to a net profit of $47,000 for the third quarter of last year.

Partners to Develop UC San Diego Proton Therapy Center

UC San Diego Health Sciences and the Department of Radiation Oncology will team with Proton Health Partners to develop and operate the UC San Diego Proton Therapy and Research Center.

Maxwell Cuts Net Loss, Prepares for Settlement

Maxwell Technologies Inc., a San Diego maker of energy storage devices for industrial use, reported a third quarter net loss of $2.35 million, compared to a net loss of $4.6 million for the like quarter of 2009 in an Oct. 28 report.

Grant Will Open Career Door to Health Care Field for Locals

EDUCATION: Training Will Target Aid Recipients And Low-Income Adults

A $25 million grant from the federal government could help provide a bridge from joblessness to careers in the health care field for several thousand San Diego County residents.

Wireless Health Project Promotes Care, Cooperation

TECHNOLOGY: Diabetes Treatment Takes Binational Approach to Problem

A regional initiative in mobile health that’s receiving financial backing from Qualcomm Inc. is looking to help nearly 200 diabetes patients in Tijuana, Mexico, monitor and treat their disease.

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Lights, Camera Marketing Action Make This Movie

This time last year, Rancho Bernardo’s Oren Peli was setting the world’s record for Hollywood’s most profitable movie ever as his “Paranormal Activity” piled up a box-office record.

The Need for Speed

TECHNOLOGY: Verizon Wireless Gears Up to Launch 4G Network in San Diego

Fourth-generation wireless telecom networks have long occupied researchers in the telecom capital that is San Diego.

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2nd Sunrise Bank Executive Departs

BANKING: Merger, Plan to Reduce Expenses Lead to Change, According to CEO

For the second time in about two months, a top executive at struggling Sunrise Bank has left the bank, which has been operating under a regulatory consent decree to boost its capital ratios since April.

Future Is Now at TEDMED 2010

INNOVATION: Star-Studded Meeting Shines Spotlight on Advancements in Health Care

Stories of innovation took center stage at TEDMED 2010, a four-day meeting at the Hotel del Coronado that focused on emerging ideas in health care and medicine, with a decided emphasis on technology, devices, genomics and policies now under way with the recent health reform law.

Hotelier Makes Sound Moves in Tough Times

HOSPITALITY: JC Resorts Joins In $100M Debt Restructuring, Renovates Flagship Properties

Vital signs for the local hospitality industry, including occupancy rates and room revenue, have steadily been improving in 2010’s second half, following a long and severe business downturn stoked by the recession.

What Inventors Should Know About Patents

Protecting inventions was written into the U.S. Constitution by the Founding Fathers as they saw the need to make sure that individuals or businesses had the right to own and profit from their creations.

Proposition D Protects Public Safety Services

Having spent a lifetime in law enforcement — as a beat cop, San Diego police chief and sheriff — I know who to trust when it comes to protecting our families from crime.

‘Mr. San Diego’ Has Earned Quite a Good Name for Himself

Joe Craver, CEO of American Red Cross-San Diego/Imperial Counties, was named Mr. San Diego at the San Diego Rotary Club meeting Oct. 14.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

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Executive Profile: Nancy Batterman

Nancy Batterman is chief executive officer of Employment & Community Options.

Buyers Move in on Local Apartment Market, Keeping Sales Hot

Local apartment investment has been on a roll lately, with several buyers announcing big acquisitions of existing San Diego County multifamily complexes in just the last two months. The hot streak held steady as October drew to a close.

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Recent Acquisition Contributes to PacWest Bancorp’s Third-Quarter Profit

PacWest Bancorp’s latest acquisition of Los Padres Bank, a failed savings and loan it obtained from the feds in August, is already paying off dividends.

Regional Report

News and notes from communities around San Diego County

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Loan Deal Gives People Another Way to Pay Off Their Medical Bills

HEALTH CARE: Hospitals Hope to See More Money; Patients Have Time to Pay

A San Diego hospital system is teaming up with a local financial services company to help patients ease the burden of out-of-pocket medical expenses and keep unpaid debts off the balance sheet of the hospitals.

Attorney Takes the Legwork Out of Filing Public Documents

TECHNOLOGY: Software Simplifies SEC Reporting Process, Cuts Related Costs

Perhaps more than ever in this era of increased federal scrutiny of publicly traded companies, the filing of public documents has to be done correctly, accurately and on time.

Connect Wins National Award For Innovation

NONPROFIT: Magazine Also Hails It for Role As an Economic Driver

The federal government recently recognized Connect — the local program for nurturing young, technology-based businesses — as a force for economic development.

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