Stories for June 2012
Friday, June 29
The Supreme Court’s 5-4 decision upholding President Barack Obama’s Affordable Care Act includes the mandate requiring nearly all Americans to buy health insurance.
Qualcomm Inc. is changing its corporate structure to better manage its patent portfolio contained in a division called Qualcomm Technology Licensing, the company said June 28.
Coast Income Properties Inc. of San Diego has purchased Pacific Ridge Corporate Centre, a two-building Carlsbad office complex, for $29 million.
To induce drivers to use the county’s only toll road — state Route 125 from Lemon Grove to Otay Mesa — the San Diego Association of Governments is giving folks a free pass on Saturday, June 30 from 9 a.m. to 2 p.m., the agency said.
Thursday, June 28
Shares of Arena Pharmaceuticals Inc. closed 29 percent higher on June 27 after word that the Food and Drug Administration had approved its diet drug.
San Diego Zoo Safari Park near Escondido plans to debut a new aerial adventure feature, called Jungle Ropes Safari, on July 20.
Eventful Inc., the San Diego-based digital event promotion service, has surpassed 20 million registered users, making it “the largest aggregated audience of local entertainment seekers in the world,” the company said June 27.
Walton Street Capital LLC of Chicago has purchased a National City office building, known as South Bay Corporate Center, for $16.6 million, CoStar Group reported June 26.
Wednesday, June 27
San Diego City Council has approved the formation of a new organization, called Civic San Diego, to oversee redevelopment services previously handled by the city’s Centre City Development Corp. and Southeastern Economic Development Corp.
Qualcomm Inc. played host to a Mobile Codefest and Hackathon June 26 at the Hilton San Diego Bayfront Hotel. The event, aimed at mobile software developers, preceded the Uplinq 2012 conference set June 27 and 28, also being held at the same site.
Biotech is trending up in venture capital funding and managing a significant amount of M&A activity as well, according to research conducted for Connect’s Innovation Reports.
Benetrac, a San Diego provider of employee benefits administration software, and the U.S. business group of Sun Life Financial Inc. said they have entered into an agreement in which Sun Life will use Bentrac services for its brokers and human resource clients.
Rancho Valencia Resort & Spa plans a four-day job fair in July to hire more than 200 new workers, as the Rancho Santa Fe resort nears completion of a $30 million renovation.
San Diego Christian College, based in El Cajon, has acquired five office buildings in Santee for a new campus.
Tuesday, June 26
Hilton Carlsbad Oceanfront Resort & Spa has officially opened in the city’s Ponto Beach neighborhood. The $80 million, 215-room resort, under construction for the past 18 months, welcomed its first guests following a June 21 evening ribbon-cutting ceremony.
Office property owner Irvine Co. and Plus One Health Management Inc. opened a new luxury-oriented fitness and health facility, Broadway Athletic & Swim Club, June 25 in downtown San Diego, according to a statement from both companies.
Sempra Energy named Carlos Ruiz as chairman and CEO of the company’s Mexican operating subsidiary, Sempra Mexico, the company said June 21.
Mother Earth Brew Co. recently opened a new tasting room and adjacent home-brew retail equipment shop in the downtown section of Vista.
Monday, June 25
Walter J. Zable, who founded and helped build one of San Diego’s largest and most successful technology companies, Cubic Corp., died June 23 at the age of 97, the company said June 25.
Kyriba, a San Diego-based provider of cloud-based software for treasury management, has entered into a joint venture in Japan with SunBridge Corp., a Tokyo-based venture capital firm, with Kyriba being the majority partner, the company announced June 18.
San Diego Gas & Electric Co. obtained approval from the state Public Utilities Commission to construct an East County substation project, involving two electric substations in Jacumba and Boulevard connected by a 14-mile, 138-kilovolt transmission line, the company said June 21.
San Diego County may ease restrictions on the use of road signs in unincorporated areas, possibly allowing communities to better attract visitors and customers to local businesses and events.
ECONOMY: Regional Effects Huge; $20.7B Seen in FY 2013
Defense Department spending is again on the rise in San Diego.
Planning: Firm Helps Clients Meet State Regulations
Environmental consulting firm Dudek has managed to maintain a delicate balancing act over the past three decades — growing bigger while keeping its focus on local clients in communities it now serves at nine offices throughout California.
LEGAL: Statistical Analysis Gives Firms A Business Strategy They Can Count On
San Diego can be a complex place to practice law, more so with the prolonged national and local economic slump. Only 14 percent of San Diego businesses have more than 20 employees, for example, so that means there are few mega-cases and few mega-mergers.
WORKFORCE: Company to Cut 10,000 Jobs, Close Sites
Nokia Corp., the Finnish cellphone maker, said it plans to cut about 10,000 jobs globally over the next year, yet, declined to say whether the reductions would affect its local office in Rancho Bernardo.
RETAIL: Grocer, Mall Make Horton Plaza Market Friendly
Jim “Jimbo” Someck has taken on the giants of the grocery world for nearly 30 years, and managed to grow his locally based natural-foods store, Jimbo’s… Naturally!, to its current four locations around San Diego County.
Centre City Development Corp., downtown San Diego’s redevelopment agency, has approved plans for a 364-room, dual-hotel project being developed on the former Fat City/China Camp restaurant site in downtown San Diego.
San Diego Hospice and The Institute for Palliative Medicine received a $1 million gift from Conrad Prebys in support of the transformational programs and services for seriously ill adults and children.
Joe Alfrey was a co-founder of redIT, and currently serves as managing director and chief financial officer.
TECHNOLOGY: The Economic Downturn Creates More Obstacles
Few industries have changed as dramatically during the past 30 years as much as technology.
Advertorial: Innovation Awards Supplement
San Diego owner-user office and industrial acquisition activity, which has been lackluster in recent years despite historically low asking prices, should soon receive a much-needed boost as financing restrictions start to loosen, with SBA loan opportunities and other new financing products opening the door for small business owners.
ECONOMY: Tips on Contracting and Loans Part of Outreach Effort
Government representatives recently came to the UC San Diego campus as part of an outreach program to inform more than 100 business attendees about federal contracting opportunities; including helping the businesses connect with the Department of Health and Human Services.
TECHNOLOGY: Range Of Threats Requires Evolving Defenses
Cyber threats come in all sizes, from the personal to the national.
TECHNOLOGY: Experts Give Firms Self-Defense Tips for Network Safety
Seated behind his desk in his office overlooking Sorrento Mesa, Jim Matteo ponders a paradox: Can a computer network ever be completely secure?
What to do with Pond 20, an undeveloped land parcel near Imperial Beach, will be the focus of an open-house meeting being hosted June 25 by the Port of San Diego.
RESEARCH: Partnership Part of Trend That Serves Both Institutions, Firms
The Scripps Research Institute has inked a five-year research collaboration deal with the international pharmaceutical company Bristol-Myers Squibb, based in New York City.
MEDICINE: It Offers Alternative to Oral Drugs, Gives Doctor Clear View
A relatively new FDA-approved device is giving Dr. Benjamin DuBois a more efficient, targeted way of delivering medication for pain-relief in his patients’ joints.
Better late than never. Overcoming intense opposition, SDG&E has finally flipped the switch on its $1.9 billion, 500,000 volt Sunrise Powerlink transmission line connecting the solar energy rich Imperial Valley to power hungry San Diego.
Technology: Recent Filing Puts Company At Nearly $2 Billion
ServiceNow Inc., a San Diego provider of cloud-based information technology services, has been talking to investors in advance of a planned initial public offering this week set to raise about $200 million.
Visitors Bureau Will Also Promote Region For Films, Television
The San Diego Convention & Visitors Bureau will start the second half of 2012 with a significantly expanded set of duties as it promotes the region’s $7.5 billion tourism industry.
BIOTECH: International Effort to Tap Jatropha Plant’s Potential
SG Biofuels Inc., which genetically engineers and grows hybrid varieties of the inedible crop Jatropha to produce low-cost biofuel for airplanes and industrial use, has united its corporate and scientific staff and facilities at one location in Sorrento Mesa.
The U.S. Department of Energy recently selected Soitec Solar, a local subsidiary of the French semiconductor materials manufacturer Soitec, for a $25 million Sunpath award to support its new North American solar manufacturing facility in Rancho Bernardo.
Innovation: AirStrip Technologies Selected Among Many Suitors
Palomar Health has selected San Antonio-based AirStrip Technologies to develop and market the San Diego health system’s smartphone app that allows physicians to view their hospitalized patients’ electronic medical records at anytime and anywhere.
WORKFORCE: Small Companies Drive Hiring In the Financial Sector
Two badly battered job sectors in San Diego showed surprising gains in the latest unemployment report for May.
Friday, June 22
Technology Integration Group announced that it has completed the acquisition of Internet protocol communications systems integrator Obsidian Technologies.
The Active Network Inc., the San Diego based provider of online registration and technology services, is chasing the mob.
Property investment firm Cruzan Monroe of Del Mar has purchased two San Diego office buildings for a total of $13.8 million, CoStar Group reported June 19.
Tom Gildred, founder and chief executive of Emerald Textiles, an industrial laundry based in Otay Mesa, received an Ernst & Young Entrepreneur of the Year award earlier this month, the company said June 20.
Scripps Health psychologist Jerry Gold is being recognized as San Diego’s Mental Health Person of the Year.
The Port of San Diego has scheduled two public workshops to gather feedback on designs for the proposed Lane Field North hotel project in downtown San Diego.
Thursday, June 21
A new study predicts the Pentagon will spend $20.6 billion in San Diego County during fiscal 2012, up slightly more than 1 percent from $20.3 billion in fiscal 2011.
Trigild, which provides real estate services related to distressed properties, has moved its corporate headquarters from the Del Mar Heights area to new offices in the Golden Triangle/University Towne Center neighborhood of San Diego, the company announced June 20
WD-40 Co., the makers of the all-purpose lubricant and other household products, said June 19 that its board of directors declared a regular quarterly dividend of 29 cents per share, payable July 31 to stockholders of record on July 16.
Realty Income Corp. has increased the monthly cash dividend on its common stock for the 59th consecutive quarter and the 66th time since going public in 1994, the Escondido-based company announced June 19.
Wednesday, June 20
SmartDrive Systems, a San Diego provider of video systems for vehicle fleets, secured $47 million in new venture funding led by existing investors Oak Investment Partners and New Enterprises Associates, as well as new investor Stanford University, the company said June 18.
The U.S. Department of Energy selected Soitec Solar, a local subsidiary of semiconductor materials manufacturer Soitec, for a $25 million Sunpath award to support its new North American solar manufacturing facility in Rancho Bernardo.
Astute Networks Inc., a San Diego developer of flash solutions for accelerating servers, desktop and cloud computing environments, said June 19 it raised $12 million in a Series B funding round.
Dr. Ted Chan, an emergency medicine physician with UC San Diego Health System, was one of 82 representatives from across the country whose progress in health information technology was recognized by White House officials and the Department of Health and Human Services on June 19.
Simon Property Group Inc. is installing a 46-foot-long, 16-foot-tall “living wall” feature at its Fashion Valley mall, to be covered with ornamental plants, ferns, grasses and eight different types of ground coverings.
Garden Fresh Restaurant Corp. of San Diego has extended its prepackaged salad kit offerings, previously sold primarily in wholesale club stores, to the refrigerated aisles and produce sections of locally based Barons Market.
Tuesday, June 19
Sunrise Powerlink, San Diego Gas & Electric Co.’s $1.9 billion transmission line linking San Diego to Imperial County, was completed and put into service, the company said June 18.
Qualcomm Inc. said it acquired Summit Microelectronics, a developer of programmable integrated circuits based in Sunnyvale, for an undisclosed price.
Centre City Development Corp., San Diego’s downtown redevelopment agency, has approved plans for a 364-room dual-hotel project on the former Fat City/China Camp restaurant site.
Insights into the personalities of key people in an organization can help an organization move forward.
Monday, June 18
San Diego’s unemployment rate remained at 8.8 percent in May, holding at the revised rate for April, but 1 point below where it was in May 2011, according to the June 15 report from the state’s Employment Development Department.
A Carlsbad industrial building known as Loker Corporate Center has been sold for $11.5 million.
San Diego’s only toll road, state Route 125, between Lemon Grove and Otay Mesa, gets cheaper to use starting June 30 when new rates go into effect, said the San Diego Association of Governments, the public planning agency that acquired the road out of bankruptcy late last year.
LRAD Corp.’s high-volume “sound cannon” will apparently be used for security at the London Olympic Games, which begin on July 27.
INVESTMENT: Some Deals In Works; Other Sectors Active
Springtime brought a flowering of biotech acquisitions to San Diego, but it ultimately disappointed a Swiss firm that wanted to make the biggest buy of them all.
Ed Brown joined Cymer Inc. in September 2005 after more than 26 years in the semiconductor industry, having held numerous high-level management positions at several multibillion dollar business groups.
Helen Hailu Berhe was granted asylum in San Diego last month, avoiding deportation to Africa to face jail and possibly death for being a Pentecostal Christian.
ECONOMY: Experts Differ on Chances of a Huge Firm Arising
Sometimes it pays to be in the right time at the right place with the best people. Take homegrown wireless company Qualcomm Inc. for example.
Tom Morrow, a top executive for Carlsbad’s fledgling California Pacific Airlines, checks in with the SDBJ insider to report that the carrier’s first aircraft, a two engine, 70-seat passenger jet made in Brazil, will touch down at McClellan-Palomar Airport on June 30.
Publicly Traded Retailer, Staffing Service and Satellite Firm Prosper
The Great Recession and the three years following its official end took a toll on types of San Diego public companies, but some showed remarkable resilience, reporting growing sales and profits.
ECONOMY: Companies Target Niche Markets, Provide Solid Service
The list of local public companies that did not make the top 50 — just like the roster of those that did — is brimming with firms capitalizing on the San Diego region’s burgeoning fields of biotechnology and biopharmaceuticals.
Finance: IPO Volume For 1st Quarter Is the Highest Since 2007
At least two San Diego companies — ServiceNow Inc. and Peregine Semiconductor Corp. — have made filings this year related to pending initial public offerings of stock, although both have yet to pull the trigger on the long-planned IPOs.
Company Launches New Division, Drives Global Leadership
Much as it did a quarter of a century ago with mobile communications, Qualcomm Inc., via its new wholly owned subsidiary Qualcomm Life, is poised to take the lead in the development of wireless health care solutions as San Diego becomes a global hub for the development of wireless health care technology.
Mad Catz Interactive Inc., the San Diego maker of computer gaming peripherals, had to settle for a lower score when fiscal 2012 came to an end.
TECHNOLOGY: Device Tells Shooter if a Target Is One of the Good Guys
Cubic Corp. is trying to address the problem of “friendly fire” with technology.
Company Aims to Do For M2M What it Has Done For Smartphones
Now that its technology and semiconductor chips have become a fixture in the digital person-to-person communication space, Qualcomm Inc. is focusing on delivering products enabling communications between machines, and between machines and people.
Market For Type 2 Diabetes Drugs Is Expanding Worldwide
Speculation continues about whether San Diego-based Amylin Pharmaceuticals Inc. could be sold as the company introduces a third diabetes treatment into the market with the recent approval of Bydureon, the first and only once-weekly treatment for type 2 diabetes.
As the chairman and CEO of NuVasive, a medical device company based in San Diego, I want to share serious concerns I have about certain aspects of the Affordable Care Act (aka Obamacare) and explain how it is destroying jobs, hindering innovation and slowing the economic recovery.
ENERGY: Joint Venture For U.S. Natural Gas Facility Fits Strategy
Sempra Energy operates two of the largest utility companies in Southern California, but it also runs other businesses that contribute to its ranking as the area’s second largest public company with annual revenue last year of $10 billion.
Realty Income Plans to Make $650M in Acquisitions in 2012
Realty Income Corp. is carefully navigating a tricky U.S. economic recovery as it adds to its already sizable portfolio. For 2012, says CEO Tom Lewis, the game plan has largely been a continuation of last year’s, as the company aims to diversify beyond retail buildings and bolster its industrial holdings.
MEDICAL DEVICES: Firm Promises Dividend, Sees Pent Up Demand
Peter C. Farrell is breathing a little easier these days.
Both Public and Small Firms Keep Sector on Cutting Edge
The San Diego biotech community’s ability to stick together in good times and bad has more than helped it weather the economic turbulence of the past five years.
Real Estate: Firm Is One of Region’s Biggest Landlords
The quest for life-saving medical breakthroughs in the biotech and biopharmaceutical arenas and a low-interest-rate climate favoring well-capitalized real estate buyers have combined to continue growing the portfolio of San Diego-based BioMed Realty Trust Inc.
Health Care: Strapped Budgets Create Unique Partnerships
International pharmaceutical corporations are increasingly turning to biotech companies in San Diego, Boston and San Francisco in search of potential replacements for Lipitor and the other once-profitable pharmaceutical drugs that are now sold as lower-cost generics.
Recession and Demographics Have Shuffled Rankings of San Diego’s Top 10 Companies
It’s been a rough ride through the recession and a look at the list of the largest public companies in San Diego proves just how difficult it was.
It is no secret that California is a tough place for entrepreneurs.
MEDICiNE: Company Has 11 Programs Under Way in Various Stages
Diversification is a key ingredient in Neurocrine Biosciences Inc.’s business strategy as it develops drugs for the treatment of neurological and endocrine-related diseases and disorders.
HEALTH CARE: Firm Active Globally, Targets Age-Related Afflictions
Alphatec Holdings Inc. of Carlsbad is driving forward by developing innovative products with a focus on treating aging spines and expanding its geographical reach.
The San Diego Invitational Golf Tournament was held at La Costa Resort and Spa.
Friday, June 15
The sale of single family houses in San Diego County in May shot up 21.5 percent to 3,750, compared to the prior year’s May sales, following a relatively strong sales month in April, according to a June 13 report from Dataquick.
San Diego-based HD Supply Facilities Maintenance, a national supplier of maintenance and operations products used in the multifamily, hospitality, educational and commercial property industries, announced June 14 that it is acquiring Peachtree Business Products of Atlanta, Ga.
Japan Airlines has scheduled a Dec. 2 launch for its previously announced new direct flights between San Diego and Tokyo.
Demolishing the South Bay Power Plant in Chula Vista took another big step June 14 when the California Coastal Commission approved issuing a permit to remove what many residents consider an eyesore.
Thursday, June 14
BioMed Realty Trust Inc. has agreed to pay approximately $196 million for a life-sciences office campus in Cambridge, England, marking the San Diego company’s first acquisition outside the United States.
CUSO Financial Services LP, a San Diego registered investment broker/dealer firm for credit unions, said on June 12 that it picked up a new customer: TruMark Financial Credit Union in Bucks County, Pa., with about $1.4 billion in assets.
Geico’s Poway office, which serves as its West Coast headquarters, will need to hire more than 100 sales agents, customer service agents and claims representatives by the end of this year, the company said June 12.
The W San Diego hotel in downtown San Diego has completed a $5 million renovation, including changes to its lounges, signature restaurant, rooftop bar and meeting spaces, operators announced June 12.
Wednesday, June 13
San Diego County auto dealerships saw revenue in 2011 reach a record of nearly $7 billion, rising 12 percent from the prior year, according to the local trade group New Car Dealers Association San Diego County.
San Diego Gas & Electric Co. will pay the city of San Diego $27 million to settle a lawsuit over the October 2007 wildfires, the city and the utility said in a joint statement June 12.
Carlsbad officials in June will review a proposed city capital improvement program that includes $30.5 million in new projects for the fiscal year that starts July 1.
Citibank, which holds more than $1 billion in deposits in 25 offices in San Diego County, appointed Candice Stephens as San Diego market president, a newly created position, the bank said June 11.
Tuesday, June 12
Locally based BioMed Realty Trust Inc. has acquired two Sorrento Mesa land parcels for approximately $47 million.
LBA Realty LLC of Irvine has purchased an 81,712-square-foot office building in Carlsbad for $15.6 million.
Sorteo Games Inc., a San Diego provider of electronic lottery systems and services, announced June 7 it is providing print on demand lottery tickets for Mexico’s National Lottery following a successful rollout of the company’s wireless agent lottery terminals.
Natural food grocer Jimbo’s … Naturally! says it has signed a lease for 28,000 square feet in the Westfield Horton Plaza shopping center.
Monday, June 11
RF Industries Ltd., the San Diego maker and distributor of radio frequency cable connectors and assemblies, had second quarter net profit of $602,000, a record, compared with net profit of $407,000 for the like quarter last year, the company announced June 7.
Sunstone Hotel Investors Inc. has entered into an agreement to sell the 284-room Marriott Del Mar in Carmel Valley for $66 Million, the Aliso Viejo-based company announced June 6.
Tandem Diabetes Care Inc. of San Diego is launching its t:slim Insulin Delivery System, a dramatically smaller next-generation insulin pump that has a touch screen user interface, with sales orders beginning June 11.
Five new eateries are scheduled to join the lineup of restaurants at Westfield UTC later this year, according to a June 5 statement from mall operator Westfield Group.
MEDICINE: Genelux’s Treatment Soon to Be Tested for Effectiveness
An experimental virus-based cancer therapy developed by San Diego-based Genelux Corp. is in the early stages of being tested locally at the Carlsbad Research Center and UC San Diego.
Awarepoint Corp., a San Diego-based provider of hospital tracking systems, announced recently that it raised $14 million in additional financing.
MEDICINE: Reforms May Create Bigger Need For at-Home Services
Health care reforms could be just the ticket to helping Jeffrey Willmann get his CareMinders Home Care franchise off the ground in San Diego and achieve his goal of opening four offices in the county over the next several years.
MANUFACTURING: Firm Finds Better Products, Production
Being a division of a much larger entity has its benefits. For example, if you’re working for Carl Zeiss Vision, whose North American headquarters is in Scripps Ranch, you may feel a bit more secure about your company’s future than most.
Advertorial: San Diego County Credit Union Customers Become “Early Adaptors”
San Diego County Credit Union® (SDCCU®), San Diego’s largest locally-owned financial institution, is re-launching its person-to-person payment service under a new name, Popmoney® (formally known as ZashPaySM).
Environment: 1500 Attendees Meet on Sustainability
Startups to major corporations embraced the green movement during the Sustainable Brands 2012 Conference held for the first time in San Diego recently at Paradise Point Resort & Spa.
When selecting a bank for your next real estate loan, start by looking for the right lending officer , i.e. lender. First and foremost on your mind is getting your deal funded and closed, but you need to make sure that you have aligned yourself with the right lender that can take you to the finish line.
San Diego due for next-generation warship? The Associated Press filed a story this week noting that the Navy’s superstealthy warship can evade electronic detection while closing in on an enemy’s coastline, and then pound its targets with “Star Trek”-like electromagnetic rail guns.
Real Estate: Developers Wait as Congress Deliberates
The U.S. Navy remains officially on board for long-discussed plans by developer Manchester Financial Group, calling for a new Southwest regional headquarters to be built as part of a larger $1.2 billion commercial development in downtown San Diego.
Washington, D.C. Service Must Wait; Aztec Colors Take Wing
Federal authorities recently turned down a request by Alaska Airlines, which is part of Alaska Air Group Inc., to add nonstop flights between San Diego and Reagan National Airport in Washington, D.C.
Defense: Vehicle Tags Mesh With Military Needs
The scene at the U.S. Army’s Camp Arifjan in Kuwait is mind-boggling. “It’s just acres of equipment, as far as your eyes can see,” said Mary Ann Wagner, president of Cubic Global Tracking Solutions.
If you’re like most people, you made some resolutions back in January – like exercising or eating more vegetables – that by now could use a reboot to get you back on track.
REAL ESTATE: Home Sales Up 9 Percent: A Trend or Blip?
Paul Barnes says there’s a palpable increase in home buying activity in recent months.
DEFENSE: U.S. Firms See Growing International Demand
Canada is thinking seriously about buying a Northrop Grumman high-altitude drone to keep watch over its vast polar regions, which are becoming more accessible due to climate change.
TOURISM: Bay Tour’s Unusual Theme Used To Capture Customers
It was a salmon fishing boat in a previous life and is now decked out as an 83-foot black galleon sailing vessel, as locally based Pirate Ship Adventures aims to reel in visitors seeking a high-tech, swashbuckling version of a local harbor cruise.
Fine tuning a company’s productivity has both short-term and long-term benefits.
The Port of San Diego, in collaboration with the city, launched a new website last month to provide detailed information about the city’s bay front master plan.
ENERGY: Natural Gas Facility Gets Nod From State Energy Commission
After five years of review, plans to build a power plant along Carlsbad’s coast are taking shape with the California Energy Commission’s recent unanimous permit approval.
ake a look at the picture on this page and you will see the architecturally splendid new Vons on West Washington Street in Mission Hills.
FINANCE: Women Make Their Way to Top Spots at Credit Unions
If there’s a glass ceiling for women in financial services, it’s clearly been shattered at San Diego’s three largest credit unions, which are all headed by female chief executives.
Local architect Jonathan Segal, FAIA, has been honored with Residential Architecture Magazine’s Project of the Year Award for “The Charmer,” a mixed-use development on India Street in Middletown that consists of 19 lofts and 5,000 square feet of commercial space, including Segal’s office.
FINANCE: Women Find a Place to Grow And Compete in the Banking Industry
As the regional vice president for Wells Fargo’s San Diego commercial banking office, Marie Landers oversees a team of 18 people who are working with companies with revenue from $20 million to $1 billion.
The New Leaders Council Institute fellows hosted the Fellows’ Fundraiser: “Funding the Future” at Belo in downtown San Diego.
Friday, June 8
Rio SEO, a unit that was spun out from Internet analytics company Covario Inc. in April, said it acquired Top Local Search Inc., a San Diego business in the Internet marketing space, for an undisclosed price, the company said June 5.
Leap Financial, an auto leasing business that focused on consumers with poor credit histories, is itself struggling with its credit.
Women’s clothing retailer Ann Taylor, a division of Ann Inc., plans to open its first local store based on a new national concept, on July 13 at Fashion Valley mall in Mission Valley.
Wal-Mart Stores Inc. plans a June 13 opening for its previously announced Walmart store in Encinitas.
Thursday, June 7
Independent hotel operator Bartell Hotels has broken ground on a $13 million expansion at its Holiday Inn San Diego Bayside, the company announced June 6.
First PacTrust Bancorp Inc., the parent company to Pacific Trust Bank that moved its headquarters to Irvine from Chula Vista in March, received approval from the Federal Reserve Bank of San Francisco to become a bank holding company and soon will acquire Beach Business Bank in Manhattan Beach, the company said June 1.
San Diego-based general contractor T.B. Penick & Sons Inc. has been awarded a task order of approximately $18.2 million to design and build a child development center at Marine Corps Air Ground Center, at Twentynine Palms
Kratos Defense & Security Solutions Inc. says its SecureInfo business will join a team from Lockheed Martin Corp. that will provide services to the U.S. Antarctic Program.
Wednesday, June 6
The June 5 primary election produced wins for business interests near and far.
An eight-property portfolio of distressed assets in downtown San Diego, known as The Waterfall Block, has been sold for approximately $13 million.
Four industrial buildings at Centerpointe Tech Center, located in San Diego’s Miramar submarket, have been sold for approximately $10.1 million, according to a June 4 statement from the brokerage firm Colliers International.
AtelUSA, a division of Atencion Telefonica, the operator of six call centers in Mexico, expanded its operations by recently opening an office in Chula Vista, the company said June 4.
In advance of its investor day in New York, Brandon Black, chief executive of San Diego based Encore Capital Group Inc., rang the closing bell at the Nasdaq Market Site in Times Square on June 5, the company said.
Tuesday, June 5
Awarepoint Corp., a San Diego-based provider of hospital tracking systems, announced June 4 that it raised $14 million in additional financing.
Environmental consulting firm Dudek, with headquarters in Encinitas, has acquired North Fork Associates, a five-person Northern California environmental and land use planning firm, in a move to expand its statewide presence.
The San Diego Film Commission, which promotes the region for use in media productions, is being merged into the operational structure of the San Diego Convention & Visitors Bureau, the organization also known as ConVis announced May 31.
The San Diego Association of Governments, the regional public planning, transportation and research agency, said June 1 that it raised $300 million from bonds issued last week for a variety of regional transportation projects.
Monday, June 4
Fitch Ratings, one of three major credit rating firms, assigned an A+ rating to three separate bond issues the city of San Diego is planning to do in June, the firm said May 29.
Four San Diego business leaders have weighed in regarding Proposition 29, the cigarette tax measure on the June 5 California ballot which has generated a good deal of television advertising.
Sullivan Solar Power, a San Diego based solar installation company, is designing and installing a 1 million watt solar project that will be divided over six sites in Chula Vista, the city said.
Casey Gerry Schenk Francavilla Blatt & Penfield LLP has been appointed by U.S. District Judge Anita Brody to a committee overseeing litigation against the National Football League alleging that multiple concussions can lead to long-term brain injuries
Local biopharmaceutical company MediciNova Inc. said recently that it received enough positive news from a phase 2b clinical trial evaluating its MN-221 asthma compound to pursue planning for phase 3 trials.
Projects, developments and other activity in cities in and around San Diego County
Linda Thomas-Mobley, JD, Ph.D., is the chair of the Construction Management Department at the NewSchool of Architecture and Design in San Diego.
Security Business Bank of San Diego shareholders, meeting in mid-May, approved the sale of the $225 million community bank to Spokane, Wash.-based AmericanWest Bank, the bank announced recently.
Stem cells provided by San Diego-based Stemedica Cell Technologies Inc. are expected to be used soon in a phase I/II clinical trial for chronic heart failure in Mexico.
The University of San Diego received a $7 million donation from J. Robert Beyster, founder of SAIC, and his wife Betty to fund the Betty and Bob Beyster Institute for Nursing Research, Advanced Practice, and Simulation.
Anxiety brings opportunity, so the age-old adage goes. However, in the current investment environment, it occasionally feels like anxiety only brings more anxiety.
Georgia Tech business professor Nathan Bennett coined the term “Munchausen at work” to describe employees who quietly cause problems so they can later take credit for fixing them.
The San Diego Association of Governments board voted to lower tolls on the underutilized South Bay Expressway. It’s most likely the first time that a public toll operator has ever lowered tolls in the U.S., according to a news release.
TECHNOLOGY: Setup Monitors Power Use and Gives Energy Saving Tips
With a dog-friendly workplace and dog photos displayed on the office walls and the company website it would be easy to assume that EcoDog Inc. caters to pets.
Next Generation Entrepreneurs Push Limits, Aim to Succeed
Tamara Christopherson is playing to win.
TRAVEL: October Eyed as Start Date; Smaller Markets Targeted
It’s taking much longer than anticipated, but liftoff is apparently just months away for Carlsbad’s fledgling California Pacific Airlines.
COMPUTERS: Joint Venture Covers a City by the Yangtze
Penetrating the Chinese market isn’t just a matter of opening an office and signing up customers, says Bruce Geier, chief executive of Technology Integration Group, which did that in Shanghai three years ago.
BUILDING: Sudberry, AT&T Give Civita Total Connectivity
San Diego real estate developer Sudberry Properties has enlisted AT&T to make possible high-speed broadband Internet and advanced TV services at Civita, Sudberry’s new multiphase and mixed-use 230-acre master planned community in Mission Valley.
MEDICINE: Bay Area Office Closing Follows January Merger
Takeda California Inc. is becoming a stronger force locally as it combines the chemistry expertise of its San Diego staff with the antibodies expertise of its San Francisco staff in one location.
REAL ESTATE: Firm’s New Office Space Blends The Best of Both Worlds
Leaders of the San Diego commercial brokerage firm Hughes Marino Inc. say they have no regrets about their corporate home improvement project that went way over its original intended budget.
FINANCE: Early Stage Companies Attract Larger Share of Venture Capital
San Diego County’s biotechnology and medical device sector bucked the nationwide trend of decreased venture capital funding for life sciences during the first quarter of this year, according to the PricewaterhouseCoopers MoneyTree Survey.
On June 5, California voters will have the chance to support life-saving research on new prevention strategies and therapies for the leading causes of death in our state—cancer and heart disease.
The San Diego North Chamber of Commerce announced five new board members as well as a new board chairman.
MEDICINE: Analyst Says It Is ‘Watershed Event’ for Antisense Technology
The FDA recently accepted a new drug application for Kynamro, a treatment for a genetic condition that causes severely elevated levels of “bad” LDL cholesterol, according to its developer Carlsbad-based Isis Pharmaceuticals Inc. and partner Genzyme Corp. of Cambridge, Mass.
EDUCATION: Offered to Experienced Managers; ‘It’s Not For Kids’
The first class of 20 mid-career workers in local tourism will gather this August to pursue a just-approved master’s degree in hospitality tourism and management at San Diego State University.
San Diego County’s contracts for future construction rose 59 percent in the first four months of 2012 compared with the same period a year ago, according to data reported May 23 by New York-based McGraw Hill Construction.
FINANCE: Bank Is No. 1 in Area, Nation, May Break Record
Wells Fargo Bank is again leading the pack of banks in Small Business Administration loans, both in San Diego and nationally.
INNOVATION: $2.25M Contest for Development Of Health Care Sensors
PatientSafe Solutions and FitLinxx are just a sampling of companies showcased alongside the unveiling of the Nokia Sensing X Challenge at the Wireless-Life Sciences Alliance Convergence Summit held at the Manchester Grand Hyatt.
DINING: Rebranding of Pat & Oscar’s Comes With New Menu, New Look
The venerable Pat & Oscar’s restaurant chain has a new name — O’s American Kitchen.
Friday, June 1
An index measuring San Diego’s economy increased by nearly 1 percent for both February and March, with the most recent month showing a big surge in consumer confidence.
Stem cells provided by San Diego-based Stemedica Cell Technologies Inc. are expected to be used soon in a phase I/II clinical trial for chronic heart failure in Mexico.
The American West Baseball League, a subsidiary of Godfather Media Inc. of Mission Viejo, awarded a franchise for San Diego County to James Hoynes, a former U.S. Marine Corps officer, the company announced May 30.
Municipal bond underwriter Siebert Brandford Shank and Co. LLC is expanding locally to keep pace with growing Western markets.