Stories for December 2011

Friday, December 30

Court Upholds State Law Dissolving Redevelopment Agencies

San Diego Mayor Jerry Sanders said the city will press for new laws enabling local reinvestment in lower-income communities, following a California Supreme Court ruling upholding the state’s dissolving of more than 400 redevelopment agencies.

Dealership Wants to Play Host to More Live Concerts

The Lexus dealership that made a splash in Escondido when it opened in 2009, and again last year when the Cohn Restaurant Group agreed to open an eatery on its third floor, said it plans to hold more live concerts.

California Pizza Kitchen Replaced By Mortony’s

Mortony’s, a new Italian restaurant and sports bar, opened in November at the Vista Village site formerly occupied by California Pizza Kitchen, 307 Vista Village Drive.

Thursday, December 29

Sempra’s Solar Panels Send Power Into Grid

Sempra Generation, a unit of Sempra Energy, announced Dec. 27 that it has finished installing three blocks of solar panels at its Mesquite Solar 1 project, 40 miles west of Phoenix.

AT&T Acquires Airwave Rights From Qualcomm

AT&T Inc. said on Dec. 27 that it has wrapped up its $1.93 billion acquisition of airwave rights from Qualcomm Inc.

Quidel Gains FDA Clearance for 2 Diagnostic Tests

San Diego-based Quidel Corp. said the Food and Drug Administration has cleared the company’s first molecular diagnostic tests available in the United States.

Starting Time Debuts Flexible Golf Tees

Starting Time, an Oceanside-based maker of golf products, has begun marketing a new golf tee designed to add extra yardage to tee shots.

Wednesday, December 28

Tourism Market Sees 2011 Boost in Visitors, Spending

The San Diego tourism market will end 2011 up 3.2 percent in visitor counts and 5.4 percent in visitor spending versus 2010, according to projections released Dec. 23 by the San Diego Convention & Visitors Bureau.

Orexigen Raises $87M for Obesity Drug Trial

Orexigen Therapeutics Inc. said Dec. 22 it raised a net total of $86.9 million through a public offering of more than 5.6 million shares of stock.

Tuesday, December 27

Meritage Pharma Buyout Deal Could Top $90M

A Pennsylvania biopharmaceutical company said Dec. 22 that it would pay millions — possibly more than $90 million — to acquire Carmel Valley-based Meritage Pharma Inc., which is developing a drug to treat a rare disease that causes an allergic inflammation of the esophagus.

Credit Union Retains Title Sponsorship of Poinsettia Bowl for 2012

San Diego County Credit Union, the region’s largest locally owned financial institution based on assets, announced Dec. 23 that it will return as a title sponsor of college football’s Poinsettia Bowl in 2012.

Completion of Quiet Zone Construction Delayed

Construction related to a “quiet zone,” being developed in downtown San Diego to curb late-night train noise, is now projected to be completed in late spring 2012.

Friday, December 23

Local Firm Completes $10M Equity Financing

ImageWare Systems Inc., a San Diego developer of identity management software, said Dec. 21 that it completed a $10 million private equity placement to a group of unnamed institutional and private investors.

Isis Begins Clinical Tests for Obesity Drug

Carlsbad-based Isis Pharmaceuticals Inc. has launched Phase 1 clinical studies for a drug that aims to help severely obese people lose weight without interacting with the brain or heart, the company said on Dec. 20.

Thursday, December 22

Sorrento Mesa Office Complex Sold for $109M

The five-building Seaview Corporate Center in Sorrento Mesa has been acquired for $109 million by Toronto-based Manulife Real Estate, the real estate arm of Canada’s Manulife Financial Corp.

Santarus Makes Licensing Deal to Promote Cholesterol Drug

San Diego-based specialty biopharmaceutical company Santarus Inc. said Dec. 21 that it has agreed to pay $11 million upfront to Shore Therapeutics Inc. of Connecticut for the right to promote and sell the low-dose cholesterol drug Fenoglide.

REIT Buys Two Shopping Centers for $48.5M

San Diego-based Excel Trust Inc., which invests in retail-related real estate, has purchased two shopping centers in Tennessee and Nevada for approximately $48.5 million.

Connecticut Company Buys Local Firm for $23.5M

Tangoe Inc. of Connecticut said it acquired Profitline Inc., a San Diego telecommunications expense management business, for $23.5 million in cash.

AT&T Drops Acquisition Plan, Citing Opposition

Dallas-based AT&T Inc. will not tie the knot with rival cellphone carrier T-Mobile USA Inc., a unit of Deutsche Telekom AG, the two companies announced Dec. 19.

Wednesday, December 21

Irwin M. Jacobs to Leave Qualcomm Board

Qualcomm Inc. announced on Dec. 20 that company co-founder Irwin M. Jacobs will leave his seat on the board at the company’s annual meeting of shareholders on March 6.

IHG Opens Holiday Inn Express at Mission Bay

U.K.-based InterContinental Hotels Group, also known as IHG, has opened a new Holiday Inn Express at Mission Bay, following a $1.5 million renovation and conversion of a former Comfort Inn.

Sempra Energy Raises 2011 Earnings Outlook

Sempra Energy, parent of San Diego Gas & Electric Co., said Dec. 19 that it expects to meet or beat the higher end of its 2011 earnings per share guidance of $4 to $4.30, which excludes a $1.14 per share gain from the company’s South American utilities acquisitions.

Tuesday, December 20

Sharp Is Pioneer in Health Reform Pilot Program

Sharp HealthCare said Dec. 19 that it is the only health care group in San Diego and one of 32 nationally that the U.S. government has selected to participate in its pilot program for Pioneer Accountable Care Organizations — a program that’s expected to cut Medicare costs by $1.1 billion in the next five years.

County’s Unemployment Rate Hits Lowest Mark of 2011

San Diego County’s unemployment rate fell a half of 1 percentage point to 9.2 percent from October to November, the lowest it’s been all year, according to a Dec. 16 state Employment Development Department report.

EDC Names New Chief Executive

The San Diego Regional Economic Development Corp. announced Dec. 20 that Mark Cafferty, president and CEO of the San Diego Workforce Partnership, is the new president and CEO of the EDC.

Monday, December 19

Local Economy to Grow in 2012, Report Says

San Diego’s economy will grow by 1.8 percent next year, the best it’s done in six years, according to the National University System Institute for Policy Research, a nonprofit organization that released its report Dec. 15.

Bank of America Tower Sold for $60 Million

The downtown San Diego building at 450 B St., known locally as the Bank of America Tower, has been sold for $60.15 million dollars.

BioMed Increases Its Stake in Massachusetts Properties

San Diego-based BioMed Realty Trust Inc., which invests in life sciences-related real estate, has agreed to acquire the remaining 80 percent stake in a Massachusetts research facility and adjacent properties that it now partly owns, for approximately $308 million.

New State Law Could Cost Companies That Misclassify Workers

LAW: Determining Independent Contractor Status Will Be Key

Gov. Jerry Brown’s authorization of Senate Bill 459 gives the green light to enacting a state law that would impose substantial penalties on employers who misclassify workers as independent contractors rather than as employees.

Policymakers Shouldn’t Believe in Yesterday

While there are valued manufacturing concerns active and presumably profitable in San Diego, the overall “footprint” for manufacturing is diminishing, and the number of manufacturing jobs has fallen dramatically.

How to Prepare for a 100 Year Business ‘Trip’

I marvel at organizations that stand the test of time, and enjoy learning from and being a part of them. For example, my Rotary Club recently celebrated its centennial, and I’m proud to say that I’ve been an active member for nearly five years. General Electric and IBM are two other marquee entities that I greatly admire for having operated for more than 100 years.

Founders Gala Celebrates USD’s People and Educational Presence

The University of San Diego held its Founders Gala Nov. 5 at the Hahn University Center on campus.

Tease photo

Regional Report

News and notes from communities around San Diego County

Tease photo

Humana Acquires Local Firm

Publicly held health care company Humana Inc. said that it acquired San Diego-based Anvita Inc., a company that specializes in analyzing health care data for pharmacy benefits managers, health insurance plans and other customers.

Real Estate Roundup

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

Executive Profile: Dan Salzman

Dan Salzman is vice president of Customer and Market Insights for Hewlett-Packard’s Imaging and Printing Group.

Businesses on Board With Enhancing Human Sports Performance

TECHNOLOGY: Equipment Makers Put Creative Energy Into Products

Long known as a hotbed for golf clubs, San Diego is home to a varied group of sports equipment manufacturers that infuse the latest technology and engineering into older gear, or come up with entirely new products.

Tease photo

Manufacturer Offered $30M Expansion Package

FINANCE: PureForge of Vista Considers Building Midwest Production Line

A Vista manufacturer is considering accepting a financing package of about $30 million from South Dakota to build its production line there.

Medical Office Space Sector Alive With Activity

REAL ESTATE: Rents, Construction Are Up; Vacancy Rates Down

As 2011 draws to a close, San Diego County medical office vacancy rates are falling and construction is up considerably from a year ago. But most of that coming new space is already spoken for by the region’s expanding health care providers, including Sharp HealthCare, Scripps Health and Kaiser Permanente.

Tease photo

Virtual Offices Address the Needs of Small Businesses, Professionals

RESOURCE: Variety Of Support Services And Location Provided

Come February, Colorado-based virtual workspace provider Intelligent Office is looking to have several “roommates” on board when it opens for business in its new La Jolla home.

Firm Seeks Sweet Smell of Success in Flavor, Fragrance Industry

BIOTECH: Allylix Has Raised $15 Million in Venture Funding Since ’05

Allylix Inc. has carved out a promising niche in the $20 billion flavor and fragrance industry by focusing on a class of organic chemicals called terpenes.

Donation Drop-Off Leads to Layoffs at Voice of San Diego

Nonprofit news outlet Voice of San Diego said Dec. 9 it laid off reporters Emily Alpert and Adrian Florido as well as photographer Sam Hodgson in the wake of dwindling donations this past year.

Open Architecture Is Seen as a Must for UAVs

DEFENSE: It Leads To Lower Costs and Increases Versatility

The unmanned aircraft industry must steer away from computer technology that is proprietary and rigid, and put an emphasis on open architecture, one of the industry’s key customers said in mid-December before a gathering in University City.

Tease photo

Rescuing Defaulted Borrowers Proves to Be Rewarding

FINANCE: Buying Bad Car Loans Is Win-Win For Lenders, Company

Leap Financial’s business model seems unlikely to garner profits.

New Leader at CB Richard Ellis Is Familiar Face

Commercial real estate services firm CB Richard Ellis, also known as CBRE, announced Dec. 16 that John D. Frager has been appointed to lead the firm’s San Diego regional office.

Local Toy Store Finds Niche as Creative Outlet

RETAIL: Eight Locations Stress Community, Customer Service

Geppetto’s Toys has grown its presence in the past 35 years from one small shop in Old Town to eight locations throughout San Diego County.

Tease photo

Solar Energy Firm To Set Up Shop in Rancho Bernardo

MANUFACTURING: Soitec to Invest $150M In Building, Upgrades

Soitec Solar Inc. has finally found a home for its massive San Diego solar-panel factory. The company said on Dec. 15 that it will purchase a 176,000-square-foot industrial building on nearly 15 acres of a Rancho Bernardo business park, where it has the space it needs to potentially double its production capacity.

Auto Show Drives Business to Dealerships

Transportation: Event Gets Sales Wheels in Motion

Sean Sunda, sales manager at Mini of Escondido, has seen firsthand how the San Diego International Auto Show can kindle passions.

Stroke of Genius?

TECHNOLOGY: Achates’ New Diesel Engine Geared To Increasing Efficiency

Achates Power Inc. has developed a new kind of diesel engine that’s lighter weight and more fuel efficient than conventional diesel engines used in cars and trucks today — and because it has fewer parts, the engine is as much as 15 percent cheaper to produce, said the company’s co-founder and chief scientist, James Lemke.

Tease photo

As Leases Expire, Most Law Firms Elect to Stay in Current Sites

REAL ESTATE: Favorable Terms Lead Some to Downtown S.D. Offices

An office market still tilted in tenants’ favor created ideal circumstances for law firms such as Duane Morris LLP to locate a new home in downtown San Diego in 2011, while others — including Robbins Geller Rudman & Dowd LLP and Gordon & Rees LLP — found sound financial reasons to stay right where they were.

Friday, December 16

New Leader at CB Richard Ellis Is Familiar Face

Commercial real estate services firm CB Richard Ellis, also known as CBRE, announced Dec. 16 that John D. Frager has been appointed to lead the firm’s San Diego regional office.

Bank of Internet Parent Raises $13.8M, Plans to Move Headquarters

BofI Holding Co., the parent firm of San Diego-based Bank of Internet USA, said it completed the sale of 862,500 shares of its common stock at $16 per share Dec. 13, raising $13.8 million.

Soitec Picks Rancho Bernardo Site for Solar Factory

Soitec Solar Inc. has found a home for its San Diego solar-panel factory.

Thursday, December 15

Luna Grill Operator Plans Orange County Expansion

San Diego-based Premier Food Concepts LLC will open its first two Luna Grill restaurants in Orange County in 2012.

Survey: Many Local Employers Not Planning to Hire Workers in Q1

Many local employers are on the fence when it comes to hiring, with about two-thirds responding to a Manpower survey saying they will maintain current staffing levels in the first quarter of 2012, the company announced Dec. 13.

Wednesday, December 14

San Diego Company Buys Vista Apartments for $44.3 Million

R&V Management Corp. of San Diego bought the 240-unit Woodbend Shadowridge apartment complex in Vista for $44.3 million, CoStar Group reported Dec. 9.

3-D Film Conversion Company Reels in $19M

Legend3D Inc., a San Diego company that converts two-dimensional films into a three-dimensional format, said Dec. 12 that it raised $19 million in a Series E preferred stock offering that will help it expand operations.

Carlsbad Mortgage Firm Puts Services Under New Umbrella

Aramco Mortgage, a Carlsbad-based residential mortgage brokerage firm, announced Dec. 9 that it has formed The Aramco Group, a collection of real estate financing companies including Aramco Mortgage and Aramco Financial.

Tuesday, December 13

Qualcomm Ushers in Two Mobile Phone Microchips

Qualcomm Inc. said on Dec. 8 that it has introduced two new microchips for mobile phones. They are part of the company’s Snapdragon line.

Humana Acquires Local Health Care Data Analysis Company

Publicly held health insurance company Humana Inc. said Dec. 7 that it acquired San Diego-based Anvita Inc., a company that specializes in analyzing health care data for pharmacy benefits managers, health insurance plans and other customers.

Leap to Sell Airwaves Rights to Advance Expansion Plans

Leap Wireless International, which offers cellphone service under the Cricket brand, said it plans to buy and sell the rights to the airwaves in certain U.S. markets, and use the proceeds to upgrade its network to next-generation technology.

Local Telecom Firm Could Expand Business

VelaTel Global Communications, a San Diego-based provider of wireless telecommunications networks in China and Peru, said Dec. 9 that it entered into an agreement that could expand its business to Croatia and Montenegro.

Monday, December 12

ViaSat Transfers First Data Over $400M Satellite

ViaSat Inc., the Carlsbad satellite equipment manufacturer that launched its $400 million satellite into orbit in October, said Dec. 7 that it transferred the first data over its broadband data network.

Port Considers Development of Energy Facility in National City

The Port of San Diego is looking at developing a renewable energy facility in National City. The topic is scheduled to be discussed at port commissioners’ monthly meeting Dec. 13.

County Bar Association Swears in New President, Directors

Marvin Mizell was sworn in as the new president of the San Diego County Bar Association by Judge Joe Littlejohn at the Association’s annual Holiday Party, Dec. 2.

HEALTHY COMPETITION

HEALTH CARE: Technology To Help Local Hospitals Lower Costs, Get More Business

At Tri-City Medical Center in Oceanside, everyone’s talking about the robotic wonder.

Tease photo

Life Sciences Sector a Rising Star for Real Estate Expansion

BIOTECH: A Healthy Demand for Space Spurred By Drug Discovery Efforts

San Diego ranks seventh in the nation for real estate expansion by life-sciences companies, fueled by rising venture and government funding and the nation’s highest per-capita concentration of Ph.D. degrees, according to a recent report by brokerage firm Jones Lang LaSalle.

Financing Plan For Convention Center Gets Nod

The San Diego City Council approved plans Dec. 6 for a special financing district to support a proposed $520 million expansion of the San Diego Convention Center.

Good Lending Climate Draws Property Investors

REAL ESTATE: Activity In Better Markets High; Cost of Capital Is Low

Access to capital for commercial property purchases varies widely by U.S. region, and recent turmoil in Europe has thrown some investors a curveball.

Tease photo

Auto Production Stalls as Financing Runs Dry

MANUFACTURING: $320M Loan Denied Next Autoworks; Aptera Closes

Money is tight these days, especially for startup auto companies.

Tease photo

Company Is Blazing New Trails for Transferring of Wireless Data

TECHNOLOGY: Firm Sees Big Opportunity In the Airline Market

The people at Proximetry Inc. can literally say they have been through trial by fire.

Tease photo

Putting More On Restaurant’s Plate Is the Goal

HOSPITALITY: Executive Plans Expansion, Seeks Opportunities

The new operations vice president of locally based Roberto’s Mexican Food, restaurant industry veteran George Hunter, is eager to take a bite out of what he views as a dual challenge.

Leftist Magazine Blogger Writes Nice About Darrell Issa

A blogger at the very progressive Mother Jones magazine is saying some nice things about the very conservative North County U.S. Rep. Darrell Issa.

Credit Unions Gain From Banks’ Bad Publicity

FINANCE: Many Local And State Institutions See Increases in Membership

California’s credit unions captured loads of new members and deposits last month, capitalizing on consumer dissatisfaction with new and planned fees assessed by big banks, said the California Credit Union League, the industry’s trade group.

Qualcomm Makes Big Move Into Mobile Health

TECHNOLOGY: Seeks To Play Key Roles for Medical Device Makers

Qualcomm Inc. is putting more of its weight in the burgeoning wireless health space.

Wealthiest Ease Back Into the Good Life as Their Losses Slow

FINANCE: List of Region’s Richest Reveals Lingering Effects of Great Recession

This year’s San Diego Business Journal list of San Diego’s Wealthiest shows most of the local richest are still losing some of their net worth, but the losses in 2011 appeared to have slowed for most.

Irwin M. Jacobs Reigns at Top of Wealthiest List

FINANCE: Ex Qualcomm Leader Big Contributor to Civic Causes

Irwin M. Jacobs gave up his chief executive title in 2005, and resigned as Qualcomm Inc.’s chairman of the board last year, but the region’s wealthiest person ranked No. 1 on the San Diego Business Journal’s San Diego’s Wealthiest list continues to be actively involved in his community.

Executive Profile: Joye Blount

As a wealth management adviser and vice president with the Private Client Reserve at U.S. Bank, Joye Blount helps financially successful individuals and their families meet their unique financial needs.

LRAD Focuses on Turning Noise Into Revenue

SONICS: Unique Technology, New Markets Drive Company Growth

LRAD Corp. is making noise on the financial pages.

Tease photo

Region Likely to Win as Wireless Wars Intensify

The wireless wars being waged by AT&T and Verizon Wireless and their allies have special importance for San Diego for several reasons.

Sales Efforts Get Stuck in Elevator Speeches

There are few offenses in business worse than challenging the validity of the near sacred “elevator speech,” that one-minute message verbalizing the qualities of what a salesperson does or sells.

Crystal Ball Gala Gives Kids a Better Present, Brighter Future

The Casa de Amparo 13th Annual Crystal Ball Gala was held Oct. 29 at the Fairbanks Ranch Country Club raising $290,000. ProFlowers was the title sponsor, and Wells Fargo Bank Escondido and Wells Fargo Bank Rancho Santa Fe were silver patrons.

Regional Report

News and notes from communities around San Diego County

Tease photo

Real Estate Roundup

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

Tease photo

Friday, December 9

First Homes Debuting at Mixed-Use Civita

The first model homes at Civita, a mixed-use community where construction began earlier this year in Mission Valley, are scheduled to be open to the public on Dec. 10.

Thursday, December 8

Silvergate Bank Reports Drop in Quarterly Profit

Silvergate Bank, which is based in La Jolla and has four branches, reported Dec. 6 third-quarter net income of $738,000, down from $823,000 for the like period of 2010.

Council Approves Financing District for Proposed Convention Center Project

The San Diego City Council on Dec. 6 approved plans for a special financing district to support a proposed $520 million expansion of the San Diego Convention Center.

Wednesday, December 7

Teams to Get Their Kicks in Bowl Games; $30M Economic Impact

The participants are set for two college football bowl games that generated an overall economic impact to the region of $30 million in 2010, according to the San Diego Bowl Game Association.

Energy Center Gets $700,000 to Standardize Rooftop Solar

The U.S. Department of Energy awarded the San Diego-based California Center for Sustainable Energy $700,000 to lead a team of public and private groups that will seek to standardize rooftop solar installations in Southern California.

Renovation Planned at Grande Colonial Hotel

The historic Grande Colonial Hotel in La Jolla is set to undergo a $500,000 renovation starting Dec. 18, operators announced Dec. 2.

Tuesday, December 6

Qualcomm Forms Subsidiary, Fund to Pursue Mobile Health Solutions

Qualcomm Inc. is putting more of its weight in the fast-growing wireless health space. The San Diego-based company on Dec. 5 said that it has formed a subsidiary, Qualcomm Life Inc., which will provide wireless connectivity services to the medical device industry, and that it has launched a $100 million fund to invest in emerging wireless health companies.

Construction Firms Get $46 Million Pendleton Contract

A joint venture that includes Fallbrook-based Straub Construction Inc. has been awarded a $46.5 million contract for the design and construction of truck company facilities at Marine Corps Base Camp Pendleton.

Sandag Drives Ahead With Plan to Buy Toll Road

The San Diego Association of Governments, the regional planning and transportation agency for the county and its 18 cities, reviewed a slew of legal documents and authorized the group’s executive team to move forward with the purchase of South Bay Expressway, the southern portion of State Route 125, at its Dec. 2 meeting.

Monday, December 5

Awarepoint Expands Patent Portfolio

San Diego-based Awarepoint Corp. says it has four new patents for real-time wireless location systems that hospitals use to keep track of medical equipment, patients and overall work flow.

Construction Permits Valuations Rise 46 Percent in San Diego County

San Diego County construction activity, measured in building permit valuations, rose 46 percent in the first 10 months of 2011 compared with the same period a year ago, according to the latest data from the Construction Industry Research Board.

Bayfront Hotel Set for Big Expansion

HOSPITALITY: Adding 500 Rooms Near Convention Center Could Take Up to 5 Years to Complete

Operators are moving forward with plans for a 500-room expansion at Hilton San Diego Bayfront Hotel, which when completed would make it the region’s largest hospitality property by room count.

Venture Capitalists Turn Their Gaze Toward Software

FINANCE: Local Funding Falls; Investors Still Drawn To Solid Ideas and Markets

San Diego-based Mellmo Inc., a provider of mobile applications aimed at smartphone users, has been busy lately.

Locals on ‘Staycations’ Give Hotels a Break From Holiday Doldrums

HOSPITALITY: Drive-In Travelers Have Big Impact On Industry’s Performance

At properties like the Sheraton Carlsbad Resort & Spa, which has its own entrance to Legoland California, families from San Diego and surrounding counties provide a welcome respite from the annual doldrums that hit local hotels during the Thanksgiving-Christmas holiday season

Tease photo

Job-One Is Protecting This Major Employer

For the most part, developers and other companies get along. After all, companies create the demand for developers to design, develop and build facilities that employ people. Developers, in turn, patronize other companies by purchasing goods and services.

Shaping Our Future Requires Economic Vision

WORKFORCE: Survey Seeks Public Input on Plans, Goals for Region

The need for defining a regional vision is vital in light of a recession that has eliminated thousands of jobs that aren’t likely to return and has forever altered the local e

App Brings Diners Out of The Dark on Wine Selections

TECHNOLOGY: Chef’s Notes, Recommended Pairings Easily Viewed

For those looking to avoid a clash in the palate between the filet mignon that’s on its way and the wine they’re about to order with dinner, there’s an app for that, developed by San Diego-based i-Somm LLC.

IRA Charitable Rollover Can Be Big Help

For The Salvation Army, the holiday season kicks off with our annual Thanksgiving dinner at Golden Hall. We serve dinner to more than 1,000 men, women and children seeking a hot holiday meal and fellowship.

Kaiser to Locate New Hospital in Kearny Mesa

The San Diego Unified Port District gave conditional approval to a plan under which the port would contribute $60 million — up to $3 million a year for 20 years — to help fund the proposed $550 million expansion of the San Diego Convention Center.

Rough Seas

DEFENSE: Region Will Not Be Insulated From Budget Cuts, Military Council Leader Says

A congressional committee’s failure to agree on ways to cut the federal deficit raises the specter of large Pentagon budget cuts — possibly $1 trillion in the next 10 years.

Healthcare District Seeks State’s Approval for Building Projects

CONSTRUCTION: Agency To Spend $240M on The Hospital Campus

The government agency that acts as the landlord for Sharp Grossmont Hospital could move dirt on major building projects next year, while it could also begin remodeling one of the dominant structures on the hospital campus.

Tease photo

Ships Shape Up as Bountiful Supplies Are Loaded Aboard

DEFENSE: When It’s Time To Deploy, Businesses Get The Benefit of Giant Orders

When the aircraft carrier USS Ronald Reagan was at sea in March, and it got the call to divert from its course to help tsunami-stricken Japan, the captain first had to measure how well his ship was up to the task.

Tease photo

Executive Profile: Steven E. Sullivan

Sullivan International Group Inc., is an applied science, environmental and technology firm that has been serving clients worldwide for the past 13 years. Steve Sullivan founded the firm after a successful career in the United States Navy submarine force.

Padres Tuning in on New TV Partner; Radio Deal Is in Place

SPORTS BIZ: TV Contract Could Be Worth $25M to Baseball Team Annually

San Diego Padres fans can turn to a familiar place on the dial for broadcasts of next season’s games, XX 1090 AM, but where the team ends up on television is still unknown.

Regional Report

News and notes from communities around San Diego County

Tease photo

Capital Paves Way for DriveCam’s Growth

INVESTMENT: Firm Plans to Acquire RAIR To Bolster Product Line

San Diego-based DriveCam Inc. seeks to expand its market and accelerate growth with its agreement to raise $85 million in investment capital from New York-based private equity firm Welsh, Carson, Anderson & Stowe XI L.P.

Tease photo

Real Estate Roundup

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

Tease photo

Mega-Banks Faring Better Than Small Banks; Loan Demand Weak

FINANCE: Merger and Acquisition Activity Could Rise, Banker Says

While the latest government report on bank earnings makes it appear the industry is in clover, there’s a clear difference between how mega-banks and community banks are faring, local bankers say.

Forbes Finds 2 Local ZIP Codes Worth Attention

Hot zones for the rich, if not the famous. Forbes magazine recently came up with its list of the 50 most expensive ZIP codes in the U.S., based on the value of median home prices, and San Diego’s exclusive Rancho San Fe enclave makes the prestigious listing twice.

Local Group Earns Presidential Praise for Educational Efforts

The Ocean Discovery Institute is one of three organizations in the United States to receive the 2010 Presidential Award for Excellence in Science, Mathematics and Engineering Mentoring.

Subway Café Wants You to Have a Coffee, and Sit for a While

HOSPITALITY: Fast Food Slows Down in Strategy to Increase Its Customer Base

San Diego recently became home to the first two California locations of Subway Café, a new format through which the ubiquitous sandwich chain is looking to take on Starbucks Corp. and major restaurant rivals nipping at the coffee king’s heels, led by McDonald’s.

Tease photo

Friday, December 2

Irvine Firm Buys Estancia La Jolla Hotel

Irvine-based Pacific Hospitality Group LLC announced on Dec. 1 that it has acquired the 210-room Estancia La Jolla Hotel & Spa.

Extension on Deadline to Arrange Financing Sends Firm’s Stock Up

Shares of Nextwave Wireless Inc., a San Diego holder of wireless spectrum licenses, more than doubled to 20 cents Dec. 1 on the Pink Sheets Exchange before falling back to 9 cents in heavier than usual activity.

Kaiser to Locate New Hospital in Kearny Mesa

Kaiser Permanente said Dec. 1 that it will build a 350-bed acute-care hospital on a 19-acre property at 5201 Ruffin Road in Kearny Mesa.

EBioscience Snapped Up for $330M

A publicly held genetic analysis company based in Santa Clara will pay $330 million in cash to acquire San Diego biotech firm eBioscience Inc., the companies said Nov. 30.

Port May Help Fund Expansion of Convention Center

The San Diego Unified Port District gave conditional approval to a plan under which the port would contribute $60 million — up to $3 million a year for 20 years — to help fund the proposed $550 million expansion of the San Diego Convention Center.

Thursday, December 1

District Seeks State’s Approval for Hospital Building Projects

The government agency that acts as the landlord for Sharp Grossmont Hospital could move dirt on major building projects next year, while it could also begin remodeling one of the dominant structures on the hospital campus.

With Consumer Confidence Down, Local Economic Index Falls

An index measuring San Diego’s economy dipped by two-tenths of 1 percent in October, with half of the six components up and half falling, the fourth straight month that’s happened.