Stories for July 2011

Friday, July 29

Maxwell Cuts Its Net Loss

Maxwell Technologies Inc., the San Diego makers of industrial energy storage systems, reported a second quarter net loss of $1.2 million compared with a net loss of $2.6 million for the like quarter of 2010.

Ponzi Scheme Returns 10-Year Prison Sentence

One of two brothers who pleaded guilty to charges of fraud in a $30 million Ponzi scheme was sentenced to 10 years in federal prison July 28, according to the U.S. Attorney’s Office.

Thursday, July 28

Pact Paves Way for Putting ResMed Products in Hospitals

Medical equipment makers ResMed Inc. and CareFusion Corp., two of San Diego County’s largest public companies, have entered into a five-year distribution agreement that will help ResMed get its new line of Stellar ventilation products into hospitals quickly.

Wednesday, July 27

Pacific Station Retail Center Sells for $19.5M

Real estate investment firm Loja Real Estate LLC of Walnut Creek has purchased The Shops at Pacific Station in downtown Encinitas for $19.5 million, the company announced July 27.

Security Business Bancorp Has Profitable Half

Security Business Bancorp, parent of Security Business Bank of San Diego, reported unaudited net income of $194,000 for the second quarter, up from $161,000 for the like quarter of 2010.

Tuesday, July 26

Nassco Working on $100M Ship Repair Project

Nassco/General Dynamics Corp. said it expects to complete $100 million worth of renovation and modernization work to the dock landing ship USS Harpers Ferry by mid-2012.

Growth Streak Ends: USD Economic Index Falls in June

Dragged down by declines in consumer confidence, reduced building permits and increased claims for unemployment insurance, an index measuring San Diego’s economy recorded its first drop in 27 months in June.

Monday, July 25

New Owner Plans $20M Renovation of La Jolla Marriott

Connecticut-based HEI Hotels & Resorts, a privately held hospitality investment firm, announced July 25 that it has purchased the 360-room San Diego Marriott La Jolla for an undisclosed amount.

Carmel Valley Office Buildings Sold for $29.5M

Two office buildings at Del Mar Corporate Plaza in Carmel Valley have been sold for a total of $29.45 million. According to CoStar Group, the buildings at 12670 and 12680 High Bluff Drive were purchased by TIAA-CREF Investment Management of Newport Beach.

Study Weighs Impact of Labor Agreements on School Construction

California school construction projects built under contracts containing project labor agreements cost 13 to 15 percent more than those projects built without such agreements, according to a study released July 25 by the National University System Institute for Policy Research in San Diego.

Reform Opens the Door for Health Care ‘CO-OPs’ Option

MEDICINE: Experts Unsure Of Effect of Major Change On Area’s Delivery System

There soon may be a lot more health care organizations in California trying to resemble Kaiser Permanente

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As Economy Recovers, Office Construction Likely to Pick Up

REAL ESTATE: Financing Easier to Obtain; Optimism Rising Among Developers

Capstone Advisors of Carlsbad recently purchased a 40,000-square-foot shopping center in Escondido for $3.9 million, and is scoping the market for similar properties as financing fundamentals continue to improve.

‘Son of TARP’ Is Used By Some Banks to Pay Back Bailout Funds

FINANCE: Program’s Lending Incentives May Be an Economic Boost

Small community banks are using a federal small business lending program to repay federal bailout funds they obtained several years ago.

Qualcomm’s Net Profit Tops $1B in Quarter

Qualcomm Inc. reported a net profit of $1.04 billion for its third quarter ending June 26, up 35 percent from the like quarter of 2010 and up 4 percent from its second quarter, the company said July 20.

Lisa Bicker to Step Down as CEO of CleanTech S.D.

ENERGY: ‘Reshuffling’ Puts Nonprofit’s Chairman In New Leadership Roles

Lisa Bicker, the very first president and CEO of the high-profile trade group CleanTech San Diego, will be stepping down Aug. 1.

Poway Startup’s Business Plan Is Picture Perfect

Here’s an item demonstrating the drawing power of those Web-based deep discount coupons.

Company’s Efforts Give Us a Window on an Unseen World

TECHNOLOGY: Part for Submarine Is an Example of Wide Range of Glass Work

A Florida company putting together a submarine that will attempt a dive to the deepest part of the world’s oceans

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Suds, Duds and Souvenirs: Airport Shops to Get $18M Logistics Hub

RETAIL: Decision Regarding Lindbergh’s New Mix of Concessionaires Due Soon

In advance of a restructuring of Lindbergh Field’s concessions program, the agency managing the airport is building an $18 million receiving/distribution center that can handle a multiplicity of contractors.

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Other Retailers Likely to Run For the Borders

REAL ESTATE: Numerous Chains to Seek Space Locally

Real estate experts say they don’t anticipate heavy local repercussions from the pending closure of Borders Group Inc.’s remaining 399 bookstores, including two still open in San Diego County.

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AT&T Merger Debate Slated for San Diego

TELECOM: July 25 Hearing Focuses on Giant’s Plan To Purchase T-Mobile

San Diegans have a front-row seat as AT&T Inc. makes one of the biggest sales pushes of its history.

COMMENTARY: Code of the West Could Spur Needed Change on Wall Street

In the last several months, headlines in financial publications such as the Wall Street Journal have reported on the result of the “casual corruption” on Wall Street

Grant Gives Voice to Issues That Concern Senior Community

Senior Community Centers received a three-year $400,000 grant from the Leichtag Family Foundation to create and implement the Seniors First San Diego public awareness campaign

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SD REGIONAL REPORT

Kratos Defense & Security Solutions Inc. said July 15 that it plans to sell $115 million worth of senior secured notes

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SD Real Estate Roundup

NewSchool of Architecture and Design and selected professionals in the construction management industry

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Too Many Attorneys? It Depends on Number of Clients, Lawsuits

There were 1.2 million attorneys in the United States at the end of 2010, an increase of 2 percent from a year earlier

Sweetwater School District Campuses Unveil New Facilities

CONSTRUCTION: Library, Classrooms Among Buildings Funded By Proposition O

Sweetwater Union High School District is celebrating a major milestone this summer with the completion of three new construction and modernization projects

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Executive profile: Steve Rosetta

Steve Rosetta is the executive managing director for the San Diego region of Cushman & Wakefield Inc.

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‘Extend and Pretend’ Loan Modifications Ease Foreclosure Fallout

REAL ESTATE: Property Owners Get Relief While Market Maintains Stability

Amid fallout from the financial industry meltdown, especially during 2009, U.S. commercial property lenders widely adopted a practice that came to be dubbed “extend and pretend.”

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Bank Sale in Limbo as Shareholders Hold Out for Higher Price

The pending sale of Coronado First Bank to Embarcadero Bank could be on the rocks or it may be on track. But in the absence of any information from the two entities, rumors have been flying.

Improving Care, Cutting Costs

HEALTH CARE: Consulting Firm Provides Vital Data to Hospitals

Twenty years ago, it was big news in Cincinnati — big enough that the story was published in The Wall Street Journal. The news centered on an innovative health care consultancy from California

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Group Calls Leap’s Board Into Question

WIRELESS: Fight Brewing Over Vote for Directors as Company Nixes Nominees

A minority shareholder group of Leap Wireless International Inc. is advocating shareholders approve three directors it has nominated and reject three of the directors proposed by the San Diego-based company in advance of a July 28 annual meeting.

South County Hits the Spot in Tourism Campaign

HOSPITALITY: Website Notices Part of Coordinated Effort to Draw Visitors

Tourism officials want to snag some of the thousands visiting places such as Hotel del Coronado, Cricket Wireless Amphitheatre and Knott’s Soak City

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Friday, July 22

Unemployment Climbs Nearly 1 Percent in June

San Diego’s unemployment rose nearly a full percentage point in June to 10.4 percent, the highest mark for 2011, underscoring a still-struggling economy.

Looking for Pearls, Bristol-Myers Snaps Up Amira

Amira Pharmaceuticals, a San Diego-based biotechnology company focused on treatments for asthma, chronic obstructive pulmonary disease and other inflammatory conditions, will be acquired by publicly held Bristol-Myers Squibb Co. in an all-cash deal worth as much as $475 million.

Cymer Posts Quarterly Revenue of $158M

Cymer Inc., the San Diego manufacturer of laser equipment used in the making of semiconductors, reported second quarter net income of $27.7 million, or 89 cents per share, up from the like quarter of 2010 when it made $21.2 million in net income, or 70 cents per share.

North County Brokers to Fly the Cushman Banner

The San Diego County office of commercial brokerage firm Cushman & Wakefield Inc. has formed a new branch in Carlsbad, with the addition of 10 real estate professionals formerly with Coldwell Banker Commercial.

JMI Invests $30M in TV Marketing Firm

JMI Equity, with offices in San Diego and Baltimore, has made a $30 million investment in BrightLine, a New York business that develops and executes television marketing strategies for multinational consumer products companies, the private equity firm said July 19.

Thursday, July 21

Exec Seeks to Raise Region’s Profile as Health Innovation Hub

The West Wireless Health Institute is serious about spreading the word that technology can lower health care costs. The San Diego nonprofit organization has hired Mindy Tucker Fletcher, an executive from Ogilvy Public Relations Worldwide, to fill the newly created role of vice president of strategic communications.

Soccer Stars Draw 38,000 to Stadium

San Diego’s Qualcomm Stadium hosted two of the world’s top football clubs July 20 with Real Madrid pounding out a 3-0 victory over Chivas de Guadalajara in a match that drew an announced crowd of 38,211.

Qualcomm’s Net Profit Tops $1B in Quarter

Qualcomm Inc. reported a net profit of $1.04 billion for its third quarter ended June 26, up 35 percent from the like quarter of 2010 and up 4 percent from its second quarter, the company said July 20.

Wednesday, July 20

Alaska Airlines Kicks Off Honolulu Nonstop in November

Alaska Airlines, a subsidiary of Alaska Air Group Inc., begins flying daily nonstop to Honolulu out of Lindbergh Field Nov. 17 to complement its existing daily nonstop service to Maui, which was launched in October, the Seattle-based airline said July 19.

Tuesday, July 19

San Diego Trust Tallies Up Another Profitable Quarter

San Diego Trust Bank continued its profitability streak, racking up its 27th straight quarter of net income for the second quarter with $267,000 compared with $226,000 for the like quarter of 2010.

Monday, July 18

Hotel Circle Property Part of Florida REIT's Big Buy

Florida-based Chatham Lodging Trust, a hotel real estate investment trust, has acquired five U.S. hotels for a total of $195 million, including the 192-room Residence Inn by Marriott San Diego in Mission Valley.

Executive Profile: Bernadette Bach

Bernadette Bach, senior vice president, is primarily responsible for establishing and building new business relationships for City National Bank in San Diego.

Big Potential Is Seen in Portable Eye Camera

Health Care: Device To Be Manufactured At San Marcos Facility

In the world of eye health, having high-quality pictures of the retina is key to recording patients’ problems and tracking the progress of treatments.

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Real Estate Roundup

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

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Changes at Del Mar Racetrack Aimed at Drawing Wide Audience

SPORTS BIZ: Local Businesses Also Expect To Benefit From Season

Preparing for the 72nd season of horse racing at Del Mar Fairgrounds, which begins July 20 and runs through Sept. 7, the Del Mar Thoroughbred Club is aiming to broaden the races’ allure beyond equestrian aficionados.

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EDC’s CEO Search in Full Swing — Again

WORKFORCE: Bill Geppert Named Interim Leader After Barry Broome Rejects Job

The San Diego Regional Economic Development Corp., a privately funded agency that hired a new chief executive one day, only to have him turn down the job two days later, appointed EDC board member Bill Geppert as its interim CEO on July 13.

Luxury Car Dealership Adds Unusual Options

HOSPITALITY: Dining, Social Events to Be on The Menu at The Centre

By early next year, car shoppers at The Centre in Escondido could be browsing the aisles for a Lexus while upstairs a wedding party celebrates an exchange of marriage vows.

Cellphones Answer Call for Low-Cost Convenience in Paying for Purchases

BANKING: Innovator’s Wireless Payment Network Rivals Major Credit Card Companies’ Systems

In the near future, most consumers won’t use plastic to pay for their purchases, but cellphones, says Gary Lewis Evans, who is building a new payment network revolving around wireless technology.

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Regional Report

News and notes from communities around San Diego County

Diverse Product Line Helps Keep Company Around for 50 Years

MANUFACTURING: Maker of 2,200 Items Is a ‘1-Stop Shop for Builders’

It’s tough to be a manufacturer these days, but Linear LLC seems to have a winning formula. “It has to do with our diverse product line, circling the wagons, and taking care of our customers,” said Gary Baker, marketing director for the Carlsbad-based maker of electronic products that recently marked its 50th year in business.

Fund Continues to Help Many Causes Carry on Their Missions

The Rancho Santa Fe Women’s Fund, a donor advised fund of the Rancho Santa Fe Foundation, awarded eight grants totaling $284,930. Reality Changers received $50,000, the largest grant, for Senior Academy which helps guide high school students to college.

We Must Build for a Better Economy

In my postapocalyptic musing about recovery from our economic collapse, I have envisioned that the source of our resuscitation might be the much-vaunted technology sector, what with its growing importance as well as the competitive advantage it offers the U.S.

Life Technologies Opens Distribution Hub in India

BIOTECH: Move Comes While Company Settles in At New Singapore Facility

Carlsbad-based Life Technologies Corp. said July 11 that it has launched a regional distribution hub in India to supply its biotech tools to the rapidly growing scientific community in South Asia.

Nonprofit Profile: Mike Arms

Mike Arms is president of Helen Woodward Animal Center in Rancho Santa Fe

Company Invests $105.3M to Develop, Market Promising Drug

HEALTH CARE: Novel Needle-Free Injector Used In Treating Schizophrenia

Zogenix Inc., the San Diego pharmaceutical company that went public late last year, said it will spend as much as $105.3 million — including $2.3 million upfront — to develop and market a new schizophrenia drug that has immense potential for global sales.

PechaKucha Night Event Like Haiku For the Eyes, Mind

The San Diego Architectural Foundation is scheduled to host PechaKucha Night San Diego Volume 12 in the courtyard of mxd830, a new mixed-use structure on 25th Street in Golden Hill, on July 20.

Regional Firms Driving Into Global Spotlight

ENERGY: Daimler Rolling Out Car-Sharing Service Locally

Before the year is through, it will be practically impossible to go anywhere in downtown San Diego without spotting one of Daimler’s tiny, zero-emission Smart cars zooming around the city or parked along the street.

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Local Execs to See Parallel Universe in Baja

AEROSPACE: 2nd International Supplier Forum Starts July 20

An Otay Mesa businessman is working on both sides of the international border to strengthen the foundations of Northern Mexico’s aerospace industry

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Car Dealerships Position Themselves for More Sales

One sure sign of an auto industry rebound is the churning of local dealership sites — with openings instead of closings on the horizon.

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Qualcomm Downsizes as Part Of Media FLO TV Exit Plan

TECHNOLOGY: Buyer of Operations Center Runs Mobile Video Business

Qualcomm Inc., which exited its Media FLO TV business last year, sold its network operations center to QuickPlay Media Inc., a Toronto business that reconfigures digital video for delivery to mobile devices.

COMIC-CON INVADES GASLAMP

HOSPITALITY: Convention Makes $163 Million Impact On County, Report States

Ingrid Croce vividly remembers the era before the explosive growth of the Comic-Con International convention when the restaurant she opened in 1985 was among the few things generating traffic in the Gaslamp Quarter.

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Thursday, July 14

Airport Mural Salutes Aviation, Cartooning

San Diego International Airport has installed a new mural paying tribute to San Diego’s aviation and cartooning history, ahead of the July 21 start of Comic-Con International.

Hughes Marino Acquires Tax Credit Consulting Firm

Hughes Marino Inc., a San Diego-based commercial brokerage firm specializing in tenant representation, announced July 13 that it has acquired Cal Tax Group Inc.

Wednesday, July 13

Illumina to Supply Sequenom With Sequencing Equipment for Fetal Testing Process

San Diego-based genetic analysis company Illumina Inc. is in a three-year agreement to supply its most powerful DNA sequencing equipment to another San Diego company Sequenom Inc., which will use the machines in conjunction with a new test to detect chromosome 21 in pregnant women. Chromosome 21 is associated with fetal Down syndrome.

Tuesday, July 12

Life Technologies Launches USDA-Approved Swine Flu Test

Carlsbad-based Life Technologies Corp. has created a USDA-approved, real-time test to detect strains of swine flu. The Swine Influenza Virus testing kit will be sold to veterinary diagnostic labs around the world, the company said, in a statement July 12.

Monday, July 11

Mayor Offers Plan to Preserve Redevelopment

San Diego Mayor Jerry Sanders is recommending that the city commit to paying the state of California to keep redevelopment programs running in the city, following state moves to dissolve California’s 400 local redevelopment agencies to help balance the budget.

Life Technologies Opens Distribution Hub in India

Carlsbad-based Life Technologies Corp. said July 11 that it has launched a regional distribution hub in India to supply its biotech tools to the rapidly growing scientific community in South Asia.

Daylight Solutions Closes $15M Venture Round

Laser-maker Daylight Solutions Inc. closed a $15 million, series C financing round with Northrop Grumman Corp. acting as the lead investor, the company said July 11.

Gaming Gets a Kick Out of Native American Venues

HOSPITALITY: Top Entertainers Help Draw Patrons to Casino Floors

Some of San Diego’s best entertainment venues, from intimate rooms where every seat is a good seat to outdoor settings under East County evenings, are found at the Native American tribal casinos where the music is there to draw new customers and reward regulars.

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Friends Don’t Let Friends Send ‘Friend Requests’

It might seem obvious that friends don’t sue friends. In case it isn’t clear to everyone, given that technology defines friends differently today, the San Diego County Bar Association’s Legal Ethics Committee has adopted an opinion that it is improper for an attorney to send a “friend request” to a represented opponent.

CareFusion Buys Pharmacy Machinery Maker

Health care: Company Spends $150M on Rowa, Based in Germany

San Diego-based CareFusion Corp., a medical technology company, will spend about $150 million to purchase German company Rowa, which specializes in high-speed storage and retrieval of medication for retail and hospital pharmacies.

Verenium Feeds Growing Demand for Enzymes

BIOTECH: Firm Sets Sights on Eco-Friendly Animal Feed Products

Local industrial biotech company Verenium Corp. has struck a deal that will help the company capture a greater share of the fast-growing, $520 million global market for animal feed enzymes.

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Let Storytelling Plot Your Sales Course

Too often sales training and business development education present conceptual content absent of the critical, meaningful information that informs both the sales process and the relationship between sales consultant and client

Executive Profile: Joe Navarro

A tribal member of the San Pasqual Band of Mission Indians, Joe Navarro has served as the San Pasqual Casino Development Group Inc. president and CEO since November 2004.

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INNOVATION: Cymer Light Sources Push Chip-making Boundaries Inward

TECHNOLOGY: Laser Supplier Beats Competitor Into Coveted Territory

From smartphones to tablets to laptops, it seems that just about everyone is carrying a mobile device these days.

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Foundation’s Donation to Zoo’s Kitty Enables It to Help a Big Cat

BBVA Compass opened its La Jolla office on June 15. To mark the office opening, the BBVA Compass Foundation donated $125,000 to the San Diego Zoo.

GENERATING JOBS

ENERGY: Soitec Solar Factory To Create Cluster Effect?

As Soitec Solar Inc. gears up for a major announcement in the next few weeks on the location of its new 200,000-square-foot solar factory in San Diego County, local government officials and clean technology leaders are buzzing about how this high-tech manufacturing and office building will stimulate the economy and lure other desirable companies to the region.

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New Amenities, Attractions Are Casinos’ Bets on Better Times

GAMING: Upgrades Part of Competition for Entertainment Dollars

Even in difficult times Native American gaming outlets on the San Diego Business Journal’s Casinos list are finding ways to upgrade and expand.

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Recovery in Regional Employment Is Expected to Take Years

ECONOMY: Area’s High-Tech Strengths Could Propel Growth

While the San Diego region is showing some signs of a turnaround, and added a net 11,000 jobs through May

Ill-defined Traits Lead to Marketing Missteps

Like many folks in the marketing world, I find myself regularly criticizing group discount purchasing company Groupon. I panned its Super Bowl XLV commercial as one of this year’s worst, joined the chorus criticizing its initial response to the ensuing fallout and expressed my displeasure when the company’s management blamed its advertising agency for the offending ads.

ResMed Buys Irish Sleep Device Company

San Diego-based ResMed Inc., a maker of respiratory masks and related assisted-breathing devices

New EDC Chief Eager to Drive Economic Reforms

WORKFORCE: Barry Broome Plans to Tackle Job Losses

Having spent most of his career in economic development, Barry Broome, named last week as president and chief executive officer of the San Diego Regional Economic Development Corp., knows well there’s no simple answer to getting the region back up to speed, but he’s aiming to find out … real quick.

Firms Busy Dealing With Distressed Properties

PROPERTY: New Joint Venture to Find Sources Of Financing for Buyers

The flood of distressed commercial properties that some predicted two years ago still has not materialized. But lingering national fallout from the recession continues to keep life busy

Meetings Planned On Convention Center Expansion

TOURISM: Project Estimated at $550M; Designers Seek Feedback

San Diego Convention Center and Port of San Diego officials have scheduled two public meetings, where residents and businesses can give input on a proposed $550 million expansion of the San Diego Convention Center.

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Supermarket Finds Fertile Ground for Expansion Here

GROCERY: Selection of Local Produce, Products Hits Spot With Shoppers

With its just-opened store in Encinitas and another set to debut in early 2013 in San Diego’s Flower Hill neighborhood, Texas-based Whole Foods Market Inc. is poised to double what has long been a limited presence in San Diego County.

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Risk-Averse Banks Look Long and Hard at Small Business Lending

FINANCE: Defense Firm Pulls in Funds; Interpreter Left Out in the Cold

Despite his company’s tripling in sales, doubling in cash flow and profits, and reducing debt, Sayed Ali can’t get a business loan.

Going Up: Apartment Projects on the Rise Locally

CONSTRUCTION: Better Financing Climate, Growth Prospects Spur Developers

Job growth prospects, a rise in the number of apartment seekers, and an improving financing climate are prompting Wood Partners and other companies to move forward with new apartment construction projects in San Diego County.

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Callaway Golf to Make Challenging Course Change

SPORTS BIZ: Interim CEO Sees Firm in ‘Startup’ Mode

Callaway Golf Co. will have to market itself better and operate with fewer employees if it is to forge ahead in the sporting goods business, the company’s new chief executive officer says.

Regional Report

News and notes from communities around San Diego County

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Real Estate Roundup

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

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Facing Bumpy Ride, Belmont Park Operator Weighs Next Move

Attractions remain up and running at Belmont Park, a longtime staple of Mission Beach. But a bankruptcy court ruling involving park operator Wave House Belmont Park LLC leaves questions about what will become of some prime city-owned real estate.

Vista CEO Seeks To Raise $1M for Monarch School

Lots of North County news happenin’ this week, so let’s get to it … Hal Tilbury, CEO of Vista-based technology company Bluepoint Solutions (which provides payment services to banks and credit unions) has taken on an unusual community fundraising project this summer.

Friday, July 8

WD-40 Turns in $8.1M of Net Income

WD-40 Co. reported July 8 that it had net income of $8.1 million for its third quarter ended May 31, down 12 percent from the like quarter of 2010.

New EDC Executive Reverses Course, Says He’ll Stay in Phoenix

Barry Broome, just named as the new chief executive officer of the San Diego Regional Economic Development Corp., apparently had a change of heart and is staying in Phoenix.

Thursday, July 7

Chase Bank Seeks 400 New Employees

Chase Bank said it plans to hire 400 tellers and other employees at a hiring event scheduled for July 19 from 5:30 to 8:30 p.m. at the Hilton San Diego Del Mar conference center.

Excel Sells Six Retail Properties in Portfolio

Excel Trust Inc., a retail-focused real estate investment trust based in San Diego, has sold six of its portfolio properties in four states for a total of approximately $39.6 million, resulting in a net gain of approximately $3 million.

ResMed Buys Irish Medical Technology Company

San Diego-based ResMed Inc., a maker of respiratory masks and related assisted breathing devices, said July 6 that it acquired BiancaMed Ltd., an Irish medical technology company.

Wednesday, July 6

EDC Goes to Phoenix for New CEO

The San Diego Regional Economic Development Corp., the privately funded business retention and attraction advocacy group, hired Barry Broome, 50, as its new president and chief executive officer.

Scripps Gets $7.9M for Stem Cell Study

Scripps researchers who are seeking to uncover the root cause for heart attacks and coronary artery disease just got a big financial boost from the National Institutes of Health.

Tuesday, July 5

CareFusion Buys German Pharmacy Machinery Maker

San Diego-based CareFusion Corp., a medical technology company, will spend about $150 million to purchase German company Rowa, which specializes in high-speed storage and retrieval of medication for retail and hospital pharmacies.

Monday, July 4

Air-To-Air Combat

DEFENSE: Northrop’s Midlevel Contender to Enter UAV Ring

Poway-based General Atomics Aeronautical Systems Inc. has the market to itself when it comes to producing a certain type of military aircraft.

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Seasoned Executive Lands Anaphore Appointment

LIFE SCIENCES: CEO Sees Growth Potential In Startup’s Technology

The appointment of veteran life sciences executive Paul Grayson as the new president and CEO of Anaphore Inc. could portend big changes ahead for the four-year-old La Jolla startup.

Mitt Romney Is a Low-Profile Local, Charge Opponents

Is 2012 peripatetic White House hopeful Mitt Romney a stealth La Jolla resident? His Democratic Party foes apparently think so, and have blasted the news in a recent news release.

Real Estate Roundup

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

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Safety Issues in Mexico Damage Region’s Economy

TOURISM: Forum Experts Trace Trade Impacts to Bad Perceptions About Violence

Even as post-recession business continues to bounce back at his company’s properties in Mazatlan and Cabo San Lucas, Pueblo Bonito Resorts CEO Ernesto Coppel acknowledges that Mexico’s tourism recovery is not what it could be.

Diversification Leads to Company’s Longtime Success

BUILDERS: Renovations Helping Industry Weather Lack of New Construction

Company president and co-founder Jackie Jennings says diversification has been key to the longevity of San Diego-based Johnson & Jennings General Contracting, which recently marked its 30th anniversary in business.

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Institute Helps Class of 2011 Continue Its Educational Journey

Barrio Logan College Institute celebrated its 15th anniversary on June 1 at The New Children’s Museum.

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Regional Report

News and notes from communities around San Diego County

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Predator C Will Pack a Stealthy Punch

DEFENSE: UAVs Also Being Considered for Use on Aircraft Carriers

General Atomics Aeronautical Systems Inc. could easily spend all of its time filling orders for existing products. However, the Blue family — the private owners of the company — have opted to pour money into something new.

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Shareholders Push for Higher Price on Bank

FINANCE: Dissident Group Rejects Book Value Offer for Coronado First

The planned sale of Coronado First Bank to Embarcadero Bank will cost the buyers more after shareholders of the purchased bank expressed dissatisfaction with the agreed-upon price.

Intrepid Investors Scoop Up Commercial Properties

REAL ESTATE: Hefty Sales Continue Despite Doubts About Recovery

When Connecticut-based Cornerstone Real Estate Advisers LLC, a subsidiary of Mass Mutual Life Insurance Co., recently purchased the Bressi Ranch Village Center in Carlsbad for $58 million

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Variety of Local Influences Shape the Visions for Public Square

Downtown San Diego redevelopment officials and mall operator Westfield Group have put forth three visions for a new public square to be built adjacent to the Westfield Horton Plaza retail center.

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Goodbye, Stethoscope; Hello, Vscan

HEALTH CARE: Report Says Mobile Ultrasound Device Can Cut Costs

Listening to a patient’s heart with a stethoscope can yield only so much information.

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Debra Reed Named CEO of Sempra Energy

The board of Sempra Energy announced late June 27 that it has elected Debra L. Reed as chief executive officer of the $9 billion energy company.

Innovation: This Startup’s Success Stories Are Many

TECHNOLOGY: Book Apps Answer Call of Mobile Device Market

You might say that entrepreneur Michel Kripalani is an overnight success — except that his success has taken 22 years to achieve.

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With a Lighter Problem-Loan Load, Credit Unions Step Up

FINANCE: Big Gains Seen In First-Quarter Aggregate Profit for Area Lenders

Most local credit unions, including California Coast Credit Union, are reporting improved numbers this year.

Solar Firm Gathers Steam With Financing of $100M-Plus Arranged

ENERGY: Latest Deal Lays Groundwork for 3 New Photovoltaic Systems

When you’re hot, you’re hot, especially in the now sizzling industrial-grade solar energy design and installation business.

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With Winds of Optimism at Their Backs, Investors Chase Quality

There is a decided — and quite unexpected — glow in the real estate capital markets, according to a consensus of the major debt and equity funders operating in the United States.

Banks Invest Their Own Resources in Wealth Management Field

Banks of all sizes, particularly the nation’s mega banks and investment banks, are aggressively pushing wealth advisory services, expanding their staffs and looking for new customers.

Friday, July 1

Nassco Gets $60M to Start Third Mobile Landing Platform

Nassco/General Dynamics Corp., the West Coast’s last major shipyard, said on June 30 that it was awarded a $60 million contract from the Navy to purchase long lead materials such as engines for a third Mobile Landing Platform ship.

Legend3D Pares Staff Again as Hollywood Slowdown Persists

Legend3D Inc., the three-dimensional film conversion studio in Carmel Valley, said July 1 it laid off another 54 people because of a slowdown in film projects in Hollywood.

Meetings Train Eye on Convention Center Expansion

Convention center and Port of San Diego officials have scheduled two public meetings, where residents and businesses can give input on a proposed $700 million expansion of the San Diego Convention Center.