Stories for April 2013

Tuesday, April 30

Teradata Corp. Selected to Help Sichuan Rural Credit Union in China

Teradata Corp., the data analytics business that has about 1,000 employees in Rancho Bernardo, said it was selected to help the largest local bank in China’s southwest to build an integrated data warehouse.

Pool Supply Retailer Expanding to Oceanside

Phoenix-based swimming pool supply retailer Leslie’s Poolmart Inc. is scheduled to open its 11th San Diego County store May 3 in Oceanside. The store is planned for a site at 815 College Blvd., in the plaza anchored by Walmart.

Business Valuations Ltd. Opens Office in Irvine

Business Valuations Ltd., a San Diego based consultancy specializing in court valuation and advisory services, said it opened a new office in Irvine, its seventh.

Gymnastics Firm Joins Lineup at Chula Vista Mall

Locally based sports training firm San Diego Gymnastics has joined the tenant roster at Otay Ranch Town Center in Chula Vista, according to a statement from mall operator General Growth Properties Inc.

Ryan Bradley Appointed Associate Director of Bastyr University Research Institute

Kenmore, Wash.-based Bastyr University Research Institute has appointed a new associate director, Ryan Bradley, and he will relocate to the natural health university’s San Diego campus.

Veterans Invited to Apply for Program on Starting Tech Companies

Veterans have the chance to compete for a fellowship to attend a four-month, part-time program offering help with starting a technology company.

Carlsbad Chamber of Commerce Holds Carlsbad Village Faire May 5

Nine hundred vendors — many of them small businesses — are expected to be on hand when the Carlsbad Chamber of Commerce presents its semiannual Carlsbad Village Faire on Sunday, May 5 on Grand Avenue in downtown Carlsbad.

Steve Shea of Barney & Barney Receives Recognition

An insurance industry group has singled out Steve Shea of Barney & Barney LLC for recognition.

Correction

The San Diego Business Journal incorrectly reported details about San Diego-based medical device maker Aethlon Medical Inc.’s government subcontract work.

Monday, April 29

ResMed Inc. Reports Revenue of $383.6M for Q1

For the quarter ended March 31, San Diego-based ResMed Inc. announced $383.6 million in revenue – a 10 percent gain in revenue over the like quarter in the prior year.

Realty Income Reports Record Results for 1st Quarter

Investment firm Realty Income Corp. reported record operating results for its first quarter ending March 31, with revenue rising 52.9 percent from the same period a year ago, to $171.7 million.

New Owner Plans Renovation at Empress Hotel in La Jolla

San Francisco-based Greystone Hotels plans a $2 million renovation of the Empress Hotel in La Jolla, which it recently purchased from Pacifica Hotel Co. of Irvine for an undisclosed price.

Websense Inc. Reports Net Income of $2.8M for Q1

Websense Inc., the San Diego provider of Web filtering software for businesses, reported first quarter net income of $2.8 million compared with a net loss of $1.8 million for the like quarter of 2012.

Children’s Apparel Seller Opens New Store at Westfield UTC

Children’s apparel retailer Peek… Aren’t You Curious has opened a new store at Westfield Group’s Westfield UTC mall. The location is 4505 La Jolla Village Drive, Suite C12.

Business Events Calendar

Business events in and around San Diego County for the week of April 29-May 5.

Real Estate Roundup

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

Voit Real Estate Services announced that Jonathan Segal, a San Diego-based urban-infill developer, has acquired a 29,700-square-foot site near the northeast corner of Balboa Park in the community of North Park for $2,250,000.

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Region Shares a Tremendous Asset: the Ocean

The recent 2013 Regional Economic Development Forum included a Mega-Region Economic Development Panel, six business leaders charged with discussing “economic development tools and regional assets” that have led to their firms’ successes. While not an intentional outcome of the session, five of the six panelists demonstrated that the ocean is important to their firms’ presence in the region. Among them, they represented San Diego’s manufacturing, research, military, tourism and marine sectors.

Office Hours and the Office Are Being Redefined

I am writing this column from my home office, after the children have gone to sleep, and I am feeling a tinge of last minute energy.

Gift of $3M Made to Salk Institute in Honor of Francis Crick

Kudos/Giving Column

Michael Crick, the son of the late Nobel laureate and Salk faculty member, Francis Crick, will donate approximately $3 million to the Salk Institute for Biological Studies. The funds come from the sale of a letter that Francis Crick wrote to his then-young son Michael describing his discovery of the double-helical structure of DNA.

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Regional Report

News and notes from communities around San Diego County

STM Bags, an Australian company with U.S. operations in Poway, recently released new cases for smartphones.

OncoSec Uses Social Media Forums to Improve Clinical Trials

Biotechnology Column

Social networking helps patients with life-threatening conditions find both valuable information and peer counsel — and drug companies are finding these forums highly useful in developing clinical trials and treatments.

Executive Profile: Wolfgang Ahrens

AudaExplore is a leading provider of automotive claims, underwriting and information solutions to insurance carriers and collision repair shops. Since 2010, Wolfgang Ahrens has been managing director of AudaExplore, where he has overseen operations and accelerated the development of innovative products and services to serve the needs of the American market.

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Having Competent IT Help Can Be a Lifesaver for Small Businesses

TECH: Needs for Assistance, Backup and Security Require Pros

Clive Harrison of San Diego-based CentrexIT says he sees the phenomenon much too often: business leaders making their information technology choices based on price alone.

Technology’s Pathfinders

TECH: Qualcomm Sees Need to ‘Clear the Way’ For More Data, Devices

Qualcomm Inc. sees a torrent of data in its future — and ours. The amount of data going to mobile devices is doubling every year, said Rasmus Hellberg, senior director for technical marketing.

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Staffing Firms Go to Work as Employment Picture Improves

WORKFORCE: Temp Placements Are Increasing; Skilled Workers Sought

San Diego’s job market is starting to show some traction based on the latest employment report that showed the region’s jobless rate falling to 7.7 percent in March.

Avalon, GSK Team Up to Be Creative Force in Drug Innovation

MEDICINE: Venture Will Find and Further Promising Research

In a unique deal that will create and bankroll 10 new San Diego drug companies, La Jolla investment firm Avalon Ventures has teamed up with British drugmaker GlaxoSmithKline Plc to funnel up to $495 million into new startups over the next three years.

Demographic Trends Drive Specialty Retail and Leasing Activity

RETAIL: Hispanic Buying Power to Reach $1.3 Trillion in 2015

Specialty grocers serving the Hispanic community — such as Northgate Gonzalez Markets, Vallarta Supermarkets Inc. and El Super — have played a big role in filling some empty and underutilized retail spaces in San Diego County.

‘Garage Laboratory’ Concept Is Experiment in Reaching Out

BIOTECH: Carlsbad Facility Plans to Open Field to Citizen Scientists

Kevin Lustig has an eye for slogans. He’s the CEO of what he calls “the Amazon.com of biotechnology,” and his latest venture is opening “the world’s largest garage laboratory.”

Qualcomm Raises Year End Estimate

Qualcomm Inc. reported fiscal 2013 second quarter net income of $1.87 billion, down 16 percent from the like quarter last year on record revenue of $6.12 billion, up 24 percent from a year earlier.

Local Craft Beer Industry Keeps Pouring It On

MANUFACTURING: Economic Impact Put at $299.5M and Growing

Things are ramping up at Societe Brewing Co. in San Diego. Opened about a year ago, the craft brewer is on track to produce about 2,400 barrels of beer this year but that will certainly rise when it installs two new tanks sometime this summer, says Doug Constantiner, chief executive officer.

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VC Firm Announces Final Close of Fund

SDBJ Insider

Terry Moore, founder and principal of local boutique venture capital firm Moore Venture Partners recently announced the final close of MVP, a $10 million fund. Moore also said he’s already closed his fifth deal from the fund, an investment in Savara Pharmaceuticals, located in Austin, Texas.

Firm Wants to Change Real Estate Landscape

PROPERTY: Avison Young Brings Its Model to Local Market

Toronto-based commercial real estate services firm Avison Young is rapidly growing its own U.S. office footprint, most recently entering a competitive San Diego market already filled with several established regional and national brokerage players.

Layoff Threat for 665 Is Lifted at Nassco

DEFENSE: Signed Bill Clears Way for Some Planned Work

A changed federal budget picture means that the General Dynamics Nassco shipyard will not have to go through with 665 layoffs announced earlier this year.

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Skin in the game

RESEARCH: Biotech Innovations Are Fueling Cosmeceutical Competition

A handful of San Diego companies are competing in the lucrative high-end skincare market, using a grounding in real science to produce and promote their beauty wares.

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Air Force Steers Away From Global Hawk

DEFENSE: Northrop Grumman’s Drone Is Big Part of Navy’s Plans

The recently released White House budget request for 2014 allocates fewer dollars to Global Hawk, Northrop Grumman’s high-flying unmanned spy plane.

Open Space Draws Retailers on the Move

PROPERTY: Location Options Are Limited in Tight Market

Vacated San Diego County retail space often doesn’t stay empty for long, a continuing trend illustrated by cases like the recent closure of a Kmart store in Mission Valley.

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Friday, April 26

Topera Collects $25M in Series C Funding

San Diego-based Topera Inc. has announced a $25 million series C financing round to commercialize its medical device that treats irregular heartbeats.

Qualcomm Raises Year-End Forecast

Qualcomm Inc. reported fiscal 2013 second quarter net income of $1.87 billion, down 16 percent from the like quarter last year on record revenue of $6.12 billion, up 24 percent from a year earlier.

CareFusion to Pay $41M

San Diego-based medical device maker CareFusion Corp. announced it will pay the government about $41 million to resolve an investigation related to the company’s sales and marketing practices.

Carlsbad Apartment Building Sells for $7.3M

Eden Properties LLC of Los Angeles has purchased Ocean Villas, an eight-unit beachfront apartment building in Carlsbad, for $7.3 million.

ServiceNow Takes Loss, Sees 81 Percent Growth

ServiceNow Inc., the San Diego provider of information technology services through cloud systems, reported a first quarter net loss of $13.4 million, compared with a net loss of $5.6 million for the like quarter of 2012.

BofI Sets Up Healthcare Finance Unit

BofI Holding Inc., the San Diego-based parent of BofI Federal Bank, said it recently launched a healthcare finance unit that will focus on financing solutions to lower and middle market healthcare providers with needs ranging from $1 million to $30 million.

Filner Proposes Temporary Traffic Plan for Balboa Park

Mayor Bob Filner has presented a plan to temporarily manage traffic at Plaza de Panama at Balboa Park, aiming to make the park more pedestrian friendly as it approaches its 2015 centennial.

Thursday, April 25

Northrop Grumman Receives Work Worth $35.7M

Northrop Grumman Corp. received a $35.7 million contract modification for Global Hawk engineering and manufacturing development, the U.S. Defense Department announced recently.

Ocera, Tranzyme to Tie the Knot

San Diego-based Ocera Therapeutics Inc. announced it will merge with Research Triangle Park, N.C.-based Tranzyme Pharma in an all-stock transaction. Ocera, currently privately held, will go public after the merger.

Pacific Premier Receives Regulatory Approvals to Purchase San Diego Trust Bank

Pacific Premier Bancorp Inc., the Irvine-based holding company for Pacific Premier Bank, said it received approvals for the acquisition of San Diego Trust Bank from the Federal Reserve Bank of San Francisco and the California Department of Financial Institutions.

City Attorney Releases Convention Center Labor Pact

The San Diego City Attorney’s Office has released a project labor agreement tied to the planned $520 million expansion of the San Diego Convention Center, after a local coalition supporting nonunion contractors filed a lawsuit to make details public.

NuVasive Opens Tokyo Office

San Diego medical device manufacturer NuVasive Inc. is opening a new office in Tokyo to strengthen its sales in Asia.

Wednesday, April 24

Local REIT Buys Diamond Bar Retail Center for $48M

San Diego-based Retail Opportunity Investments Corp. has purchased Diamond Hills Plaza, a 139,314-square-foot retail center in Diamond Bar, for $48 million in an all-cash transaction.

Nike Opening Remodeled Store at Fashion Valley

Athletic shoemaker and retailer Nike Inc. has remodeled its 5,980-square-foot store at Fashion Valley, which is scheduled to reopen April 25 under a new nationwide concept known as Nike Running.

Isis Pharmaceuticals to Receive $3.5M Milestone Payment

Carlsbad-based Isis Pharmaceuticals announced it will earn a $3.5 million milestone payment from Weston, Mass.-based Biogen Idec Inc. for its study of infants with spinal muscular atrophy, a rare genetic condition.

GroundMetrics Inc. Closes $1.5M Round of Financing

GroundMetrics Inc., a San Diego developer of electromagnetic sensing technologies for the oil and other energy-producing industries, said it closed a $1.5 million second round of financing following a successful test of the technology on an oilfield.

New Airport Improvements Are Traveler and Fido Friendly

Another part of the Lindbergh Field Green Build project was opened recently with six new gates in Terminal 2 operating, giving passengers a taste of what’s to come when the entire project is completed in August.

Bumble Bee Foods Commits $1M in Donations to World Wildlife Fund

In launching a new product line called Wild Selections, San Diego-based seafood canning company Bumble Bee Foods announced it is committing a minimum of $1 million in donations to the World Wildlife Fund.

Heritage Commission Backs Tribes Who Say Wind Project Is on Sacred Site

The California Native American Heritage Commission recently threw its support behind two area American Indian tribes, who say the 112-turbine Ocotillo Wind Project in Imperial County was built on a sacred American Indian site.

Freedom Station to Handle Warrior Foundation

The Warrior Foundation, a charitable project that benefits military families, is now in new hands.

Tuesday, April 23

Sense4Baby Receives $4M

San Diego-based Sense4Baby Inc. announced it has received $4 million in funding from the West Health Investment Fund.

K2 Insurance Services Acquires Aegis Security Inc.

K2 Insurance Services LLC, a San Diego business that was formed in 2011 to acquire and manage general insurance agencies and specialty underwriters, said it recently acquired Aegis Security Inc. of Pennsylvania.

Mortgage Master to Expand Its La Jolla Operations

Mortgage Master, a Massachusetts-based mortgage bank, said it plans to expand its current La Jolla office.

Ranking Places Prime Healthcare Services in Top 15 Health Systems

Prime Healthcare Services, which includes San Diego’s Alvarado Hospital and Paradise Valley Hospital, was named one of the top 15 health systems in America by research firm Truven Health Analytics.

East County Group Receives $50,000 Grant for Aerotropolis Planning

The East County Economic Development Council has received a $50,000 grant from The San Diego Foundation to develop an aerotropolis strategic roadmap for the area surrounding Gillespie Field airport in El Cajon.

Cricket Announces New Tiered Rate Plans for iPhone

Cricket Communications Inc., the no-contract wireless provider based in San Diego, announced new tiered rate plans for its Apple Inc. iPhone, as well as a new “family plan” rate.

Noted Architect Graham Downes Dies at 55

Nationally known local architect Graham Downes has died at age 55, as a result of injuries sustained in an altercation at his Bankers Hill home, according to a statement from his San Diego-based firm, Graham Downes Architecture Inc.

Kyocera Solar Is Cutting 23 Full-time and 85 Temporary Positions

Kyocera Solar, which opened a panel manufacturing line in San Diego to much fanfare in early 2010, said it’s cutting 108 people because of declining demand for domestically-made solar panels.

Monday, April 22

SeaWorld’s IPO Goes Well

SeaWorld Entertainment Inc., which operates a big division here, made a nice splash on Wall Street when its initial public offering jumped 24 percent to $33.52, giving the company a market capitalization of about $3 billion.

Aethlon Receives $22.8M Government Subcontract

San Diego-based medical device maker Aethlon Medical Inc. has received a $22.8 million government subcontract to collaborate with the Columbus, Ohio-based nonprofit research and development organization Battelle Memorial Institute.

Business Telecom Operator Expands in Poway

New Jersey-based Phone.com, an Internet-based telephone company, said it recently opened a new office in the Poway Business Park.

Pfenex Teams With Agila for Joint Venture on Global Drug Commercialization

San Diego-based Pfenex Inc. has teamed up with Bangalore, India-based Agila Biotech to develop and globally commercialize six drugs, including one to treat multiple sclerosis.

Loan on Park Hyatt Aviara Returned to Special Servicing

A $186.5 million loan backing the Park Hyatt Aviara in Carlsbad has been placed back in special servicing because of a payment default by the borrower.

Local Unemployment Rate in March Was 7.7 Percent

San Diego’s unemployment rate in March dropped to 7.7 percent down from a revised 8 percent in February, and the lowest it’s been since December 2008, according to the state’s Employment Development Department.

Some Local U.S. Bank Branches to Get Solar Panels

U.S. Bank locations in Scripps Ranch and Emerald Hills are among eight Southern California bank branches that will get solar panel installations from SolarCity, the two businesses announced.

Business Events Calendar

Business events in and around San Diego for the week of April 22-April 28.

North County Feels Effects of Improving Industrial Market

REAL ESTATE: Vacancy Rate for Sector Is at Lowest Level Since Mid-2011

Improving fundamentals in San Diego County’s industrial property market are piquing the interest of locally based investors like SR Commercial, as vacancy rates in that sector continue to head downward.

Small Businesses Will Need Help Navigating New Health Care Course

INSURANCE: Law’s Complexities, Uncertainties Need to Be Understood

Small business owners in San Diego County will need to brush up on federal health care reform regulations in order to take full advantage of new tax incentives and potentially lower insurance costs.

Shared Expectations Are Formula for Success

Commentary: Editorials, letters, columns and other opinions

A recent issue of Fortune magazine covered interviews with 21 luminaries from all walks of life in which they were asked for the one piece of advice that got them to where they are today. There were, of course, 21 different answers given that there were 21 different circumstances.

Build Up the Person, Build Up the Organization

Commentary: Editorials, letters, columns and other opinions

After years of managing people, whether it be in New York at Ground Zero, New Orleans in the aftermath of Hurricane Katrina or in a local fire station, I’ve observed a phenomenon of human nature that, while clear to some academics, is rarely, if ever, practiced by those in leadership.

Komen Shares the Wealth With Area Health Care Agencies

Kudos/Giving Column

Susan G. Komen for the Cure, San Diego awarded $1.4 million to breast health programs throughout San Diego County at its annual Grant Award Ceremony recently.

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Nonprofit Profile: Kirby Wohlander

Kirby Wohlander is executive director of Toward Maximum Independence (TMI), a nonprofit that enables adults with developmental and other disabilities to achieve their highest level of independence through job services, home supports and more.

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Finding Long-Term (Care) Solutions

INSURANCE: Policies Are An Attractive Job Benefit, But Can Be Complicated

Employers continue to explore long-term care insurance to pad their benefits packages, in large part to attract and retain key talent. This is because long-term care insurance can be a boon to employees who foresee caring for aging family members, or who want to protect their own assets as they age.

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Piece of Local History Is Part of La Jolla Apartment Buy

Real Estate Column

A Denver-based investment firm has purchased a La Jolla apartment community located on a site with ties to San Diego’s history.

Exit From Small Bank Draws a Big Severance Deal for CEO

Finance Column

Top executives exiting with lucrative golden parachutes when their companies are acquired isn’t new, but it’s less common among small community banks.

Pharmaceutical Industry Leaders Soak Up San Diego’s Story

Biotechnology Column

A group of pharmaceutical heavy hitters recently convened in San Diego for the annual meeting of industry trade group PhRMA. The roster included National Institutes of Health Director Francis Collins, Eli Lilly and Co. CEO John C. Lechleiter, and California Lt. Gov. Gavin Newsom, among others.

Latham & Watkins Assists as Ambrx Pursues Cancer Research

The Business of Law Column

This is a pretty cool assignment, and it demonstrates that lawyers help society and help save lives. Latham & Watkins recently announced it is advising Ambrx Inc., in its collaboration with Japan’s Astellas Pharma Inc.

Cloud Software Provider Works to Simplify Asset Management

TECHNOLOGY: After Mulling Its Options, Firm Drops Anchor in San Diego

Like a lot of entrepreneurs, Pascal Wiscour-Conter is a risk taker, but there are degrees of taking risk.

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Industrial Laundry Is Expanding to Meet Demand

SERVICE: Cleanliness, Efficiency Are Draws for Health Care Customers

Having corralled most of this area’s largest hospitals as clients, Emerald Textiles is expanding into Los Angeles.

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Teradata Continues to Make Big Data Manageable

TECH: Data Can Now Be Moved Between Teradata and Hadoop

Teradata Corp. continues to refine the data-crunching options for its big-business customers.

Monarch School To Dedicate New Campus

SDBJ Insider

Come April 24, the Monarch School, San Diego’s school for homeless kids, is set to open its new 2.2 acre campus in Barrio Logan just south of Petco Park. The usual panoply of elected officials are scheduled to attend, including Mayor Bob Filner and county Supervisor Greg Cox.

Niche Service Is New Airline’s ‘Flight Plan’

TRAVEL: California Pacific On ‘Fast-Track’ for FAA OK

California Pacific Airlines’ newly appointed president and CEO, industry veteran John Selvaggio, remains confident that the fledgling carrier can take to the skies by year’s end, despite a long and turbulent certification and startup process.

Thermo Fisher Bids High for Life Tech

BIOTECH: Massachusetts Firm Offers $76 Per Share

In a deal that outpaced analysts’ most generous estimates, Life Technologies Corp. will be acquired by Waltham, Mass.-based Thermo Fisher Scientific Inc. for a resounding $13.6 billion.

Hesitant Banks Boost Hard Money Market

FINANCE: Home Flippers Flock To Lenders for ‘Easier’ Money

Hard money or private financing companies that make loans that banks would never touch are busier than ever these days.

Understand and Deliver

MANUFACTURING: Firm Turns Clients’ Ideas Into Working Prototypes

Leardon Solutions has seen it before. Its principals have been through the process of getting manufacturing right. Earlier in their careers, each of them saw firsthand how a company at the top of the Fortune 500 worked through its challenges.

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City Prepares for Leasing Decisions in Downtown

PROPERTY: Area’s Popularity Increasing With Various Firms

Mayor Bob Filner recently appointed Jason Hughes, who heads the local brokerage firm Hughes Marino Inc., to advise the City of San Diego on a volunteer basis as it decides what to do with a half-million square feet of downtown office leases set to expire in the next few months.

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Friday, April 19

Life Technologies Partners With Ridom GmbH to Develop New Software

Life Technologies Corp. has partnered with Munster, Germany-based Ridom GmbH to develop new software for the company’s Ion Torrent genetic sequencing equipment.

ecoATM Receives 1 Millionth Device

ecoATM, a San Diego company that operates self-service kiosks that provide payments for unwanted cell phones, said it received its 1 millionth device recently.

Illumina Partners With Kindstar Global To Expand Genetic Testing

San Diego-based Illumina Inc. has partnered with Wuhan, China-based Kindstar Global to expand Illumina’s genetic testing services to more than 3,300 hospitals across China.

San Diego County Median Home Price Increases 19 Percent

San Diego County’s median price for a single family house in March increased nearly 19 percent to $380,000 compared to the same month last year, according Dataquick, the La Jolla real estate research firm.

Thursday, April 18

Leap Wireless International Closes $1.45B Seven-Year Loan

Leap Wireless International Inc., the flat rate wireless carrier doing business as Cricket, said it closed on a $1.45 billion seven-year loan from a syndicate of financial entities led by Deutsche Bank Securities Inc., Merrill Lynch, UBS Securities, and Citigroup Global Markets Inc.

TASC Inc. Receives Navy Contract That Could Be Worth $40.5M

TASC Inc. said it received a U.S. Navy contract that could be worth as much as $40.5 million over five years if the government exercises all of its options.

Dempsey Construction Acquires Legacy Building Services

San Diego-based general contractor Dempsey Construction Inc. has acquired Legacy Building Services Inc., another general contracting firm with local headquarters.

Harbor Island Hilton Completes Renovation

The Hilton San Diego Airport/Harbor Island hotel has completed a multimillion-dollar renovation of its lobby, restaurant and public spaces.

San Diego Gas & Electric Signs Five Renewable Power Purchase Agreements

San Diego Gas & Electric has signed five new renewable power purchase agreements, two of which are in San Diego County.

Santarus Stock Climbs Slightly After Submitting Drug Marketing Application to FDA

Company stock rose marginally after San Diego-based Santarus Inc. announced it submitted an application to the U.S. Food and Drug Administration for the marketing approval of its drug Ruconest.

Housing Sales Are Moving Quickly on the Market

Houses in San Diego are moving briskly, taking a median of 26.6 days to sell in March, or about half the time it took in March 2012, according to a recent report from the California Association of Realtors.

Event Examines Education and the Workforce

Education and the development of tomorrow’s workforce take center stage in a program set for the afternoon and early evening of April 23.

Wednesday, April 17

Council Approves Tourism Marketing District Renewal Agreement

San Diego City Council has approved the latest revised agreement related to renewal of a Tourism Marketing District, clearing the way for approximately $30 million to be distributed annually for local tourism promotion.

Del Mar Opening to Be Burger Lounge’s 10th Location

San Diego-based Burger Lounge is scheduled to open its 10th company restaurant April 18 at Flower Hill Promenade in Del Mar.

DriveCam to Open Office in London

DriveCam Inc., a San Diego provider of video systems for the vehicle fleet industry, said it’s opening an office in London to better serve its clients.

Qualcomm Announces Quarterly Cash Dividend

Qualcomm Inc. said its new quarterly cash dividend of 35 cents per common share will be payable on June 26 to stockholders of record on June 5.

Skins Moves U.S. Office to Encinitas

Skins compression clothing, which describes itself as the world’s leader in gradient compression sportswear for amateur and professional athletes, announced that the company moved its U.S. office to Encinitas.

Portuguese Firm to Use Novatel Wireless’ Mobile Tracking Device

San Diego-based Novatel Wireless said recently that a Portuguese company will use Novatel’s MT 3050 mobile tracking device in an automotive telematics package.

Event Gives Tips on Connecting Small Businesses With Big Buyers

Small business owners will be able to learn about government contracting and working with large corporations at Meet the Buyers, a touring national event geared toward teaching attendees how to obtain contracts and purchase orders.

Tuesday, April 16

Life Technologies to Be Acquired By Thermo Fisher Scientific for $13.6B

Carlsbad-based Life Technologies Corp. announced it will be acquired by Thermo Fisher Scientific for about $13.6 billion in cash, or $76 per share.

General Atomics Receives $18.3M Contract from U.S. Air Force

The U.S. Air Force recently announced that it has awarded Poway-based General Atomics Aeronautical Systems Inc. an $18.3 million, firm fixed price contract to cover depot activation for the Air Force’s Predator and Reaper unmanned aircraft.

Downtown Courtyard Hotel Completes $5.8M Renovation

The Courtyard by Marriott San Diego Downtown hotel has completed a $5.8 million renovation of its public spaces, meeting rooms and guestrooms. A statement said the Gaslamp Quarter property now has a new area called The Lobby, with new spaces for dining, working and relaxing.

Sony Electronics to Open 3 Remodeled Retail Stores

Sony Electronics, based in San Diego, said it’s rolling out three remodeled retail stores to complement a Sony Gallery store that opened this week at Westfield’s UTC Mall.

L-3 Communications Receives $10.5M Military Contract

L-3 Communications Holdings Inc. recently received a $10.5 million contract for two-way radios and accessories, according to the U.S. Defense Department.

Landmark Croce’s Leaving Gaslamp by Year’s End

Croce’s, a restaurant and jazz club that has been a Gaslamp Quarter staple for nearly 30 years, will close by year’s end, owner Ingrid Croce said in a statement.

Two New Port Commissioners Are Sworn In

Some three months after they were supposed to take their seats, two new commissioners, Rafael Castellanos and Marshall Merrifield, were sworn in at the San Diego Unified Port District.

Scripps Health Named Among 15 Top Health Systems in the Country

For the second time, Scripps Health has been named among the 15 top health systems in the country by research firm Truven Health Analytics.

Monday, April 15

ViaSat Inc. Acquires Cloud Networking Company LonoCloud Inc.

ViaSat Inc. said it has acquired LonoCloud Inc., an early stage company based in La Jolla, for undisclosed terms.

Life Technologies Purchases KDR Biotech Co.

Life Technologies Corp. has purchased KDR Biotech Co., a Korean company that has been distributing its products since 1982. The companies didn’t disclose financial details.

Local Firm Selected to Translate Harvard Business Publishing’s Web-Based Courses

San Diego-based Local Concept, an international marketing and translation services firm, has been selected by Harvard Business Publishing of Watertown, Mass., to translate 42 Web-based courses for business executives who speak Chinese, Spanish and Brazilian Portuguese.

Athletic Training Center Opening in Carlsbad

Massachusetts-based Athletes’ Performance, which operates training and workout facilities, is opening its fifth U.S. location at the Carlsbad headquarters campus of SKLZ, which makes sports training products. A spokeswoman said SKLZ is marking the official grand opening April 18.

Wastvedt & Co. Acquires Advantage Tax and Accounting Services

San Diego accounting firm Wastvedt & Co. said it acquired Advantage Tax and Accounting Services, another local accountancy, and moved into larger offices in Carmel Valley.

Canadian Commercial Real Estate Services Firm Opens UTC Office

Toronto-based Avison Young, Canada’s largest independently owned commercial real estate services company, has opened a new San Diego office at 4225 Executive Square in University Towne Center.

San Diego Business Events Calendar

Business events in and around San Diego County for the week of April 16-April 21.

UC San Diego Renames Research Unit in Honor of Qualcomm Support

RESEARCH: Company Supported Research With $26 Million in Gifts

The University of California is giving Qualcomm Inc. a nod in thanks for more than a decade of support. It is renaming UC San Diego’s branch of the California Institute for Telecommunications and Information Technology after the company.

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Mills Named SDBJ Publisher

The San Diego Business Journal named a new president and publisher — it is a familiar face. Armon Mills, former president and publisher, returned to the Business Journal as its leader April 11.

Accelrys Builds Data ‘Bridges’ for Sharing Research

TECH: Software Allows Real-Time, Secure Collaborations

The drug development landscape is in flux, with pharmaceutical companies making in-house cuts and outsourcing their research to independent firms, called contract research organizations.

Local Housing Price Increases Don’t Raise Concerns

PROPERTY: Market Forces Said to Be at Play, Not an Overheating

San Diego’s housing market is clearly heating up with increases in median home prices in the past year at double-digit rates, giving rise to concerns that another bubble could be in the works.

Men’s Roles In Workplace Engender Debate

SDBJ Insider

End of men in the workplace? Well not quite yet, writes Mary Blair-Loy, an associate professor and director of the Center for Research on Gender in the Professions at UC San Diego.

BRAIN Initiative Will Tap Our Best Minds

RESEARCH: Local Firms, Scientists Already Researching

The new BRAIN Initiative, recently announced by the White House as an effort to comprehensively map brain processes, has a cadre of backers in San Diego and could have important implications on brain research locally.

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Luxury Hotel Will Bring Change to Imperial Beach

TOURISM: Cohn Restaurant to Also Be Part of Emerging Scene

San Diego developer Pacifica Cos. is nearing completion on a $34 million boutique luxury hotel in Imperial Beach, called Pier South, that local planners are also hoping serves as a big economic catalyst for the city and South County.

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WD-40 Is Focusing More on Its Strengths

MANUFACTURING: Home Care Line Is Under Review

WD-40 Co. may have spring cleaning on its mind. Management at the publicly traded company recently got board approval to review “strategic alternatives” for its home care and cleaning product line, which has become a smaller part of its business.

Success is in the Bag

SPORTS: Golf Firm’s Clubs, Leadership and Marketing Win the Day

It’s one thing to grow rapidly. Then there’s grabbing market share to the point where you dominate it. That’s the story of TaylorMade-adidas Golf, now without peer in the worldwide sale of two categories of golf clubs: metalwoods, including drivers and fairway woods, and irons.

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Sempra Energy’s Many Diverse Holdings Power Its Business

ENERGY: It Looks To Future With Green Energy, Natural Gas

Sempra Energy is a San Diego colossus. With $9.65 billion in 2012 revenue, the energy holding company is second to no one but Qualcomm Inc. among the region’s public companies.

Development Will Sell South County Advantages

PROPERTY: Lower Rents, New Highway Are Area’s Pluses

Locally based Murphy Development Co., already the largest developer of industrial properties in Otay Mesa, is increasing its bet on that region’s long-term economic prospects by starting work on its fourth South County industrial project, a $300 million development known as Brown Field Technology Park.

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Biomed’s Growth Strategy Matched to Fast-Changing Market

REAL ESTATE: Company Boosts Portfolio With New $640M Acquisition

Leaders of BioMed Realty Trust Inc. note that the company’s recently announced $640 million acquisition of a life-sciences property portfolio, currently held by Wexford Science & Technology LLC of Baltimore, underscores two key aspects of a growth strategy that has actually been in place for some time.

Jack in the Box Plants ‘Seeds’ in Heartland for Franchise Growth

DINING: Company Continues Move To Franchise Model

For Jack in the Box Inc., business growth stems in part from territorial growth. There are still parts of the United States that have never seen a Jack in the Box restaurant or the company’s other format, Qdoba Mexican Grill. The $1.55 billion corporation is working to establish those eateries on new turf.

Executive Profiile: Jim Cable

Jim Cable has more than 25 years of experience in semiconductor research, development, production, and management. Since 2002, he has served as chief executive officer of Peregrine Semiconductor Corp., a provider of high-performance radio frequency integrated circuits. In 2012, Cable won the San Diego Business Journal’s “Most Admired CEO” award in the category of “Large Public Company.”

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ResMed’s New CEO Aims to Grow Global Sleep Apnea Market

MEDICAL DEVICES: Firm’s Strategies Include Targeting Other Conditions

Mick Farrell, the new CEO of San Diego’s ResMed Inc., thinks the market is ripe for growth for his company’s devices that treat sleep-related breathing disorders. In an interview, he weighed in on the direction he plans to take the company, which was founded by his father, Peter Farrell, in 1989. Mick Farrell took the helm of ResMed on March 1.

Excel Doesn’t Let Buying Opportunities Slip Under Its Radar

PROPERTY: REIT Sets Goal of $200M In 2013Acquisitions

Excel Trust Inc.’s growth strategy for 2013 includes standing by the acquisition priorities that helped it significantly expand its business base since becoming a public company in April 2010.

Isis’ Path to Success is Creative Interaction and Innovation

BIOTECH: Firm Organizes Workspace To Foster Collaboration

The key growth strategy for San Diego drug developer Isis Pharmaceuticals Inc. is to … not grow. At least, not grow too much.

Regional Report

News and notes from communities around San Diego County

Tarzana-based Mollison 150 Enterprises LP has purchased the 150-unit Bella Vista Apartments in El Cajon for $12 million.

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Real Estate Roundup

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

Heritage on Ivanhoe is a community of new homes ranging from 2,103 to 3,032 square feet. The homes were released for sale in February and twelve of the fourteen homes released are now in escrow. The two remaining homes at Heritage on Ivanhoe are priced at $1,395,000.

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Fundraiser Delivers $1M on Mission to Support the Troops

Kudos/Giving Column

The Del Mar Country Club hosted the second annual fundraiser to support the SEAL-Naval Special Warfare Family Foundation, which raised more than $1 million.

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The Family Model Is a Good Business Model

Commentary | Editorials, letters, columns and other opinions

People say they “raised a family,” yet they “built a business.” Raising a successful family, however, isn’t all that different from raising a successful company

Friday, April 12

San Marcos Office Complex Sells for $29 Million

A three-building San Marcos office complex housing University of St. Augustine for Health Sciences has been sold for $29 million, according to CoStar Group.

PriceSmart Reports Net Income of $25M for Q2

PriceSmart Inc., the San Diego operator of warehouse club stores in the Caribbean and Latin America, reported fiscal 2013 second quarter net income of $25 million, compared with $20.2 million for the like quarter of last year.

County’s Industrial Real Estate Market Continues Recovery

San Diego County had 32,000 square feet of positive net industrial space absorption during the first quarter, with the region posting one of its lowest vacancy rates seen in 16 quarters, according to a report from the brokerage firm Voit Real Estate Services.

Thursday, April 11

Cymer Acquisition Gets OK From Justice Department

Cymer Inc., the Rancho Bernardo maker of lithography equipment used in the manufacture of semiconductors, obtained more official approvals on its pending sale to Netherlands-based ASML Holding NV, including a recent OK from the U.S. Department of Justice’s antitrust division, the companies announced.

J. Craig Venter Institute at UC San Diego to Open in November

The new J. Craig Venter Institute, a $39 million laboratory on the UC San Diego campus, will open in November this year — and has begun touting itself as the “most environmentally friendly and only net zero energy biological laboratory in the world.”

Xpenser Acquired by Coupa Software of San Francisco

Xpenser, a San Diego software firm that allows users to record and track expenses more efficiently in the cloud, said it was acquired by Coupa Software of San Francisco for an undisclosed price.

Filner Appoints Hughes as Real Estate Adviser

San Diego Mayor Bob Filner has appointed Jason Hughes, president and CEO of local brokerage firm Hughes Marino Inc., as a special assistant to advise the mayor’s office on the city’s downtown office real estate needs.

Council Postpones Vote on Tourism Marketing Agreement

San Diego City Council has delayed a vote on an agreement paving the way for funds to be distributed in support of a Tourism Marketing District, while officials work out further revisions.

Deadline for San Diego Business Journal’s Best Places to Work Awards Nomination is April 12

Don’t miss your opportunity to celebrate your company as one of San Diego’s Best Places to Work. The San Diego Business Journal will close nominations for this popular program on Friday, April 12.

Healthiest Companies Award Nominations Close Friday

The last chance to nominate your favorite healthiest company is approaching. Nominations close on Friday, April 12, for one of the San Diego Business Journal’s most popular programs — San Diego’s Healthiest Companies Awards.

Wednesday, April 10

Reports Say Investors Are Teaming Up for $12B Bid for Life Technologies

Life Technology’s shares crept higher following reports that the San Diego-based biotechnology company is the target of a $12 billion buyout from a joint team of investors led by private equity firm KKR & Co. LP.

Cubic Corp. Receives $134M Navy Training Contract

Cubic Corp. said recently that it received a U.S. Navy training contract that could ultimately be worth nearly $134 million over five years, if the Navy exercises all its options.

Ajinomoto Completes $175M Purchase of Althea Technologies

Ajinomoto Co. Inc., a Japanese food additive corporation, has completed the $175 million purchase of San Diego’s Althea Technologies Inc.

Northrop Grumman Receives $71M Contract Modification

Northrop Grumman announced recently that it received a $71 million contract modification for services related to its Global Hawk aircraft.

Local Economic Index Records 0.9% Gain in February

The index measuring San Diego’s economy increased nearly 1 percent in February following smaller gains in January and December.

Tuesday, April 9

Isis Pharmaceuticals Enters $392M Deal with Roche Holding AG

Carlsbad-based Isis Pharmaceuticals Inc. has entered a $392 million deal with Swiss biotech giant Roche Holding AG to work on new treatments for Huntington’s disease, a rare but devastating degenerative genetic brain disorder.

Northrop Grumman Receives $80M Navy Electronics Contract

Northrop Grumman Corp. announced that it received a U.S. Navy electronics contract worth as much as $80 million over five years. A two-year option would extend the deal to December 2019 and give it a $95 million ceiling.

Ambrx to Receive $15M in Cancer Drug Development Deal

La Jolla-based drug maker Ambrx Inc. will receive $15 million upfront from Japanese pharmaceutical company Astellas Pharma Inc. in a cancer drug development deal.

Penn National Gaming to Develop Hollywood-Themed Casino in Jamul

Publicly traded Penn National Gaming Inc. announced recently that it has signed agreements to develop and then run a Hollywood-themed casino and resort in Jamul.

La Jolla Apartment Building Sells for $29M

Denver-based AIMCO Holdings LP has purchased Prospect 400, a 60-unit apartment building in La Jolla, for $29 million, according to CoStar Group.

San Diego County Median Home Price Increases 19 Percent

The median housing price in San Diego County increased 19 percent over the year in March to $432,000, according to the Greater San Diego Association of Realtors.

Kearny Mesa Retail Center Sells for $7.98M

Mercury Clairemont Mesa LLC has purchased the Mercury Village Shopping Center in Kearny Mesa for $7.98 million, according to a statement from brokerage firm CBRE, which represented the buyer.

Monday, April 8

Pat Hyndman Wake Draws 300 admirers

Pat Hyndman would have liked the party thrown in his honor Sunday at the UC San Diego Faculty Club. About 300 people attended a memorial service to remember the community leader who died March 9, at 98 years old.

Mills Named SDBJ Publisher, Again; Frisch Vice Chancellor at National U

The San Diego Business Journal is getting a new president and publisher, though it will be a familiar face. Armon Mills, former president and publisher, will be returning to the Business Journal as its leader effective April 11.

IT Executive of the Year Awards Honor Industry Leaders

Douglas Burke, Terry Orletsky and David MacKinnon were among eight San Diego Information Technology executives who were given special honor Thursday night at The 6th Annual San Diego Business Journal Information Technology Executive of the Year Awards.

Mission Valley Hilton Hotel Sells for $44.6M

Kalpana LLC of Newport Beach has purchased the 349-room Hilton San Diego Mission Valley hotel for approximately $44.6 million. The seller was HEI Mission Valley LLC, according to data from CoStar Group.

Computer Sciences Corp. Receives Marine Corps Contract

Computer Sciences Corp. in San Diego received a U.S. Marine Corps contract that could be worth as much as $7.2 million during its initial year, and as much as $29.9 million over four years if the Marines exercise all of the options.

WD-40 Co. Reviewing Alternatives for Home Care and Cleaning Products Business

WD-40 Co. recently reported that it is reviewing “strategic alternatives” for its home care and cleaning products business, particularly in the Americas.

Sandag Sponsors Bike to Work Corporate Challenge in May

Bicycling to work can help workers save money, reduce stress, and get fit. And it can be a way to bond, or at least bring together, co-workers for a shared goal, says the San Diego Association of Governments, the regional transportation planning agency that’s sponsoring a Bike to Work Corporate Challenge during the month of May.

Local Firm Acquires Sacramento Apartments for $8M

San Diego-based Jupiter Investment Group Inc. has purchased a 125-unit apartment complex in Sacramento for $8 million.

Qualcomm Co-Founders to Be Inducted to National Inventors Hall of Fame

Irwin Jacobs and Andrew Viterbi, two of the co-founders of San Diego’s Qualcomm Inc., are among this year’s inductees to the National Inventors Hall of Fame.

Business Events Calendar

Business events in and around San Diego County for the week of April 8-April 14

Local Office Market Property Values Rising, Rents Inching Up

Property: Limited Space Options Draw National, Local Investors

Continued recovery in San Diego County’s office market is catching the attention of local and national investors, with the first quarter of 2013 witnessing a string of high-profile property acquisitions and leasings.

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Padres Hope Changes Will Be a Hit with Their Fans

SPORTS: Fences Are Closer; Team Looks for Ways to Be Competitive

The San Diego Padres moved in the fences this year so fans should expect lots more home runs and higher scoring games at Petco Park.

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Awards Luncheon Will Honor Entrepreneurs

SDBJ Insider

Spring is here, and the upcoming business events are starting to line up through the summer months. So mark your calendars. The local office of the U.S. Small Business Administration and Small Business Development Council set June 12 for their annual awards luncheon, which will fete entrepreneurs who’ve not only survived, but thrived in this challenging environment.

Realty Firm Makes Improvements Pay Off

PROPERTY: Company Puts Capital Into Home Renovations

Having flipped houses during the depths of the recession, the guys at Renovation Realty knew their best payoffs were behind them.

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Tourism Marketing Dispute Appears Settled

TOURISM: Funds to Be Released; Filner Says Transparency Increased

San Diego City Council will soon clear the way for the first new funding to be disbursed for promotion of the region’s crucial tourism industry, after the mayor’s office and Tourism Marketing District officials apparently resolved a bitter dispute over the district’s renewal.

Landmark Eatery Sets a Course for Change

DINING: Tom Ham’s to Make Better Use of Scenic Location

Locally based restaurant operator Shelter Island Inc. is in the midst of a $3.5 million makeover of its landmark Tom Ham’s Lighthouse at Harbor Island, aiming to pay homage to its history while better capitalizing on its waterfront location.

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Business Lines

SPORTS: Sport Fishing Operators Must Manage Many Tasks for Success

Never mind that his workplace floats. Jack Rader is really in the hospitality business. Rader, 32, works as a captain on the privately owned Premier, an 81-foot vessel that operates out of H&M Landing on Point Loma. Every day, the Premier takes patrons out for half-day sport fishing excursions.

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Sharp Joins MinuteClinic For Retail-Based Care

MEDICINE: Clinics Provide More Basic Treatments, Referrals

Sharp HealthCare has teamed up with MinuteClinic, the retail health care division of CVS Caremark Corp. Sharp physicians will now help oversee patient treatment in the 10 walk-in medical clinics that are located in CVS pharmacy stores around San Diego County. They are designed to be highly accessible: They’re open seven days a week and in the evenings, and patients can be seen without an appointment.

Art Auction Draws Good Crowd for Alzheimer’s Group Event

Kudos/Giving Column

The Alzheimer’s Association San Diego/Imperial Chapter held the 16th annual Memories in the Making Art Auction recently at the Hahn University Center at the University of San Diego. The event raised more than $150,000 to support the San Diego/Imperial Chapter of the Alzheimer’s Association.

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Startup Capital Scarce For Sports Apparel, Equipment Makers

MANUFACTURING: County Home to Cluster of Action Sports Entrepreneurs

“Made in San Diego” is developing a special meaning for Kevin Flanagan, co-founder of The People’s Movement, an “eco-conscious” footwear and accessories maker in Solana Beach.

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Executive Profile: Joe Donoghue

Joe Donoghue is president and CEO of San Diego-based Leardon Solutions, a global product development, engineering, and manufacturing services company that helps small- to medium-sized businesses, entrepreneurs, and startups turn their ideas and concepts into revenue generating products.

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Head to Head Competition

MANUFACTURING: Local Craft Breweries Find The Recipe for Success

Creative, competitive and highly independent, local breweries have placed San Diego County at the center of the growing market for handcrafted beers.

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Amylin Pharmaceuticals to Be Closed

Bristol-Myers Squibb is pulling the plug on La Jolla-based diabetes drug manufacturer Amylin Pharmaceuticals Inc., which it acquired last year in a multibillion dollar deal. Amylin, which employs 420 in San Diego, will be shuttered by late 2014.

Legal Community’s Stand-Ups Put Their Comedy to Work for a Cause

The Business of Law Column

Ken Turek won the annual Lawyers Are Funny (LAF-Off) competition a couple of weeks ago. Turek, of the firm Endeman, Lincoln, Turek & Heater LLP, deserved to win. He acknowledged John Gomez should have won last year’s competition, and then cleverly ripped Gomez + Iagmin and its advertising. It was good fun, for a good cause. LAF-Off is the primary fundraising event for the San Diego Volunteer Lawyer Program, a nonprofit organization that provides free civil legal services to thousands of disadvantaged clients every year.

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Royal DSM Builds on Verenium Partnership in Sorrento Valley

BIOTECH: New Office Will Expand DSM’s Move to Biofuel

Exactly one year after it purchased $37 million worth of food processing and oil extracting assets from San Diego-based Verenium Corp., Netherlands-based Royal DSM N.V. has christened a new outpost in Sorrento Valley.

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New SEC Rule Changes for IPOs Understates Actual Pipeline

FINANCE: Rule Change Allows More Secrecy for Small Firms

With the broader stock market surging, investor appetite for new companies through initial public offerings is also percolating.

Firm’s Stem Cells Play Offense In Fight Against Parkinson’s

MEDICINE: Aim Is To Regenerate Affected Regions of the Brain

The Carlsbad-based International Stem Cell Corp. is making strides in developing a cure for Parkinson’s disease, a devastating degenerative brain disorder most common in the elderly.

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Innovation, Profits Could Soar in a ‘Drone Zone’

TECH: Groups Seek FAA Designation for Southern California

Business will benefit if the Federal Aviation Administration decides Southern California should be an unmanned aircraft test zone. That’s the opinion of several business groups and observers in the San Diego area.

Friday, April 5

Groundbreaking Ceremony Held for New $60M Heart and Vascular Center

The Grossmont Healthcare District and Sharp Grossmont Hospital recently held a joint groundbreaking ceremony to launch the construction of a new $60 million heart and vascular center on the 520-bed hospital’s campus.

Tealium Raises $15.6M in Series C Financing

Tealium Inc., a Solana Beach company that offers tag management for websites, announced it raised $15.6 million in series C financing.

Benetrac Announces Health Benefits Call Center Service for Employees

San Diego-based enrollment and employee benefits software company Benetrac recently announced a new call center service that provides answers to employee questions about their health benefits.

Vista Apartment Property Sells for $11.3M

An Encinitas-based partnership has purchased The Meadows Apartments in Vista for $11.3 million, according to data from CoStar Group.

Scouting Report: Qualcomm Eyes Ballparks’ Mobile Networks

Qualcomm Technologies, a subsidiary of Qualcomm Inc., and MLB Advanced Media, Major League Baseball’s Internet and media business, announced a multi-year agreement to survey, plan and optimize mobile network connectivity for fans at all 30 MLB ballparks.

Douglas Wilson Cos. Sells Livermore Lumber Facility

San Diego-based real estate services firm Douglas Wilson Cos. has sold off the J.E. Higgins Lumber facility in Livermore for $5.1 million, after liquidating the company’s assets.

Groups Host Event to Share Training and Tips With Older Entrepreneurs

In recognition of April being National Encore Entrepreneur Mentor Month, the U.S. Small Business Administration, AARP, and the North San Diego Small Business Development Center hosts a free training event aimed at entrepreneurs over the age of 50.

Thursday, April 4

Amylin Pharmaceuticals to Be Closed

Bristol-Myers Squibb is pulling the plug on La Jolla-based diabetes drug manufacturer Amylin Pharmaceuticals Inc., which it acquired last year in a multibillion dollar deal. Amylin, which employs 420 in San Diego, will be shuttered by late 2014.

Qualcomm to Participate in $100M ‘BRAIN Initiative’

San Diego telecommunications company Qualcomm Inc. is a key participant in President Barack Obama’s new BRAIN Initiative — a $100 million government-funded project meant to understand the complexities of the brain.

Carlsbad Council Approves 656-Home Development

Carlsbad City Council has approved a 656-home, 156-acre development on a rehabilitated former rock quarry property, known as Quarry Creek, proposed by San Diego-based developer Corky McMillin Cos.

Hearings Explore North County Transportation and Public Amenities Improvement Plans

The San Diego Association of Governments (SANDAG) and California Department of Transportation are holding a series of public hearings to discuss extensive long-term plans to improve transportation and other public amenities along the Interstate 5 North Coast corridor.

Kearny Mesa Office Complex Sells for $22.5M

New York-based HighBrook Investment Management LP has purchased the Copley Business Center office complex in Kearny Mesa for $22.5 million.

City University Newest Affiliate of Locally Based National University

San Diego-based National University announced recently that City University of Seattle is its newest affiliate.

Stock Market Gains Bring Improvement on Pension Front

The aggregate pension deficit for the nation’s largest corporations improved in the first quarter, mainly because of the surging stock market this year, according to a recent report from Mercer Investment Consulting.

CEO Optimism Grows, According to Vistage Survey

CEOs are growing more optimistic as the economy continues to improve, according to a new report from Vistage International Inc., a San Diego-based national CEO peer advisory membership organization.

Wednesday, April 3

BioMed Raises $369.2M in Stock Offering

San Diego-based BioMed Realty Trust Inc. raised gross proceeds of approximately $369.2 million in its recently completed offering of common stock shares.

Raytheon Receives $7.5M Contract Modification

Raytheon Co.’s Integrated Defense Systems business will receive a $7.5 million modification to an existing contract covering ship self-defense systems, according to a recent U.S. Department of Defense announcement.

Accelrys Partners with eMolecules to Grow Online Chemical Compound Directory

San Diego-based Accelrys Inc., a developer of research management software, has partnered with Solana Beach-based eMolecules Inc. to grow its online directory that helps researchers source chemical compounds.

AT&T Donates $500,000 to Fund Technology Training Courses for Local Adults

AT&T Inc. recently gave the OASIS Institute $500,000 to fund technology training courses for adults in San Diego and 22 other markets.

ServiceNow Receives GSA Authorization to Operate With Federal, State Agencies

ServiceNow, the San Diego based provider of cloud technology services to larger companies, said it received federal authorization to operate from the U.S. General Services Administration.

UC San Diego Renames Telecom Research Institute After Qualcomm Inc.

UC San Diego has renamed its telecommunications research institute after Qualcomm Inc., recognizing nearly $26 million in gifts from Qualcomm and its foundation over the course of 12 years.

Tuesday, April 2

Ambit Is Seeking $86M in Proposed IPO

San Diego-based pharmaceutical company Ambit Biosciences Corp. recently upped its initial public offering proposal, raising it to $86.3 million as opposed to the $57.5 million it filed for in February.

Ethertronics Brings 2 New Antenna Systems to Market

Ethertronics Inc. recently brought two new indoor antenna systems to market. The products, called distributed antenna systems, or DAS, go by the names EtherDAS 1.5 and EtherDAS S.

Proximal Data Receives $2M in Series B Financing

Proximal Data said it received $2 million in its series B round of funding, which brought the company’s total funding to $5 million. Seattle-based Divergent Ventures, a new investor, led the round. Previous investor Avalon Ventures of La Jolla also participated.

Chula Vista Office Building Sold for $12M

An office building known as Corporate Plaza in Chula Vista has been sold for approximately $12 million, according to CoStar Group.

Aldila Closes Sale to Mitsubishi Rayon America

Aldila Inc., the Poway maker of golf clubs, said it closed its sale to Mitsubishi Rayon America Inc.

H.G. Fenton Acquires Miramar Business Park

San Diego-based development and investment firm H.G. Fenton Co. has purchased the Silverton Business Center in the Miramar area for an undisclosed price.

Arena Pharmaceuticals Drug To Be Marketed, Distributed in Mexico

An anti-obesity drug manufactured by San Diego’s Arena Pharmaceuticals Inc. will be marketed and distributed in Mexico, triggering a $500,000 milestone payment, the company said, in a statement.

Envision Solar Reports 2012 Net Loss of $2.48M

Envision Solar International Inc., a San Diego maker and designer of solar arrays, reported a 2012 net loss of $2.48 million, compared with a net loss of $2.54 million in 2011.

Monday, April 1

Parallel 6 Launches Software Product for Hospitality Businesses

Parallel 6 has rolled out a new software product that lets hoteliers, theme park operators and others in the hospitality business interact with their customers via smartphones.

Scripps Health to Sell Sente Inc. Skin Creams

Scripps Health will begin selling skin creams developed by Encinitas-based Sente Inc., a privately held company with deep roots in San Diego’s biopharmaceutical community.

Netherlands Biotech Corporation DSM Opens Local Office

DSM, a Netherlands-based biotech corporation with $11 billion in revenue, christened its new Sorrento Valley office recently.

San Diego County’s Unemployment Rate Falls to 8 Percent in February

San Diego County’s unemployment rate fell to 8 percent in February, the lowest since December 2008 when it was at 7.4 percent, according to the state’s Employment Development Department.

Business Events Calendar

Business events in and around San Diego County for the week of April 1-April 7.

Real Estate Roundup

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

Construction is under way in Encinitas, as home builder Brookfield Homes prepares Seaside Ridge, its new collection of 23 semi-custom homes set to grand open in late spring. The California coast-inspired community is located at 809 Dolphin Circle in Encinitas.

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Professional Profile: Daniel Ryan

Daniel J. Ryan is executive vice president – regional market director (San Diego) and strategic operations for Alexandria Real Estate Equities Inc.

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Current Economic Climate Creating Demand for Submarket Space

REAL ESTATE: Investors Meeting Demand With Redevelopment, Renovation

Sorrento Valley and Sorrento Mesa have some of the region’s oldest commercial properties, with inventory dating back to the 1970s and earlier, but those submarkets have recently seen a rise in redevelopment, renovation and leasing activity.

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Following the Market Forces

PROPERTY: Class A Space Fills Up, Heating Up Interest in Class B

What a difference an economic recovery makes, when it comes to the balance of power between office tenants and landlords in San Diego County.

Brain Researchers Gather in San Diego for Annual Conference

Health Care Column

San Diego recently hosted the 2013 annual meeting of the American Academy of Neurology, attracting thousands of brain researchers from around the country. Several San Diego companies made key announcements during the conference, including San Diego’s International Stem Cell Corp.

Acquisition Puts SynteractHCR in Position for Global Trials

MEDICINE: Firm Is In 16 Countries, Expects To Expand to Asia

One of Southern California’s largest contract research organizations Synteract Inc. recently doubled in size after acquiring Munich, Germany-based Harrison Clinical Research Group GmbH. The move has formed a new multinational company called SynteractHCR, with headquarters in Carlsbad.

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Interoperability Could Cut Health Care Costs, Study Finds

HEALTH: Firms Look for Ways to Integrate Systems

More than $30 billion could be saved each year in health care costs by improving the way that medical devices and health care systems communicate, according to a new analysis from San Diego’s West Health Institute. Hospital rooms have multiple medical devices from various manufacturers, and coordinating data from so many sources into one electronic medical record can be both costly and complicated.

Medical Automation Equipment Is Prescription for Growth

MANUFACTURING: Automation GT Is Moving To Bigger Facility, Hiring

Automation GT feels the squeeze. These days, space is tight in its offices and in its shop. One reason is that the Escondido firm has plenty of work. Several of its custom-built factory automation machines sit on its production floor, in various stages of completion. Their inner workings are encased in big, glasslike boxes. No two of the machines are alike.

San Diego Private Bank Merger Details Emerge in Proxy Reports

Finance Column

Reading proxy reports can be fun if you’re into that sort of thing, or if you’re a big shareholder or an employee of the affected companies.

PHG Sees Bright Future for Warner Springs Ranch Resort Rehab

TOURISM: $50M Renovation Planned For Historic Property

Pacific Hospitality Group Inc.’s next fixer-upper project is a planned $50 million renovation of the historic Warner Springs Ranch resort, which the San Diego company recently purchased in a bankruptcy auction.

Device Would Add to Arsenal In Fight Against Breast Cancer

TECH: In-Home Use Adds Convenience and Consistency to Monitoring

Eclipse Breast Health Technologies Inc. plans to apply new technology to the fight against breast cancer.

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BioMed Realty Announces $640M Merger

San Diego-based BioMed Realty Trust Inc. has entered into an agreement to merge with Wexford Science & Technology LLC of Baltimore, in an acquisition deal valued at approximately $640 million.

SeaWorld Aims for June Opening of Waterpark

TOURISM: New Site Hopes to Draw International Visitors

Construction workers are busily transforming a portion of Chula Vista into something resembling an island beach resort, as the parent of SeaWorld San Diego aims for a June 1 opening of its Aquatica San Diego waterpark.

Home Bank Relocates to a Better Business Climate

BANKING: Kearny Mesa Move Part of New Lending Strategy

Home Bank of California, one of the area’s smallest but most profitable lenders, found a new home as it shifts its strategy to pursue more business loans.

Lessons on Dealing With a Workplace Bully

SDBJ Insider

Yes, it’s April 1, but let’s not be foolish. There is a lot of news to report. Famed North County business guru and writer Ken Blanchard writes the foreword to “Back Off!” written by San Diego resident Catherine Mattice.

Kyriba Shows Big Firms The Money and More

TECH: Software Delivers Secure Cloud-Based Cash Management

Cash management may sound dull, but not if you’re handling billions of dollars daily for some 750 customers, including major multinational corporations such as Qualcomm Inc. and Nordstrom.

Bed and Brick-Fest

TRAVEL: Legoland’s New Hotel Puts Park On the Overnight Map

The Carlsbad theme park was already called Legoland California Resort well before construction began on the colorful three-story, 250-room hotel set to officially open its doors April 5.

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Upscale Eateries to Be A Force at Headquarters

PROPERTY: Terramar Sees Drawing Power of Good Food

Carlsbad-based Terramar Retail Centers has at least two notable restaurant tenants lined up for its $40 million project in downtown San Diego, known as “The Headquarters,” and is targeting an October opening at the renovated former police headquarters building.

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Oil Refiner Agrees To Buy Sapphire’s Output

BIOFUEL: Commercialization Is First Big Deal for Green Crude

It might just seem like a drop in the bucket — but San Diego-based Sapphire Energy Inc.’s first steps to commercialize its algae-based crude oil speaks volumes.

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County Retirement Fund Ponders Making Loans

FINANCE: Direct Lending Would Be Managed By a Firm

The board that oversees the $9.1 billion pension fund for San Diego County retirees is considering deploying some of that capital into direct business lending.

Moores Gives $2M to Aid Scripps in Battling a Very Bad Bug

Kudos/Giving Column

Local philanthropist John Moores donated approximately $2 million to The Scripps Research Institute. The funds will be used for the development of a new field test for river blindness, a parasitic infection that affects tens of millions of people in parts of Africa, Latin America and other tropical regions.

Regional Report

News and notes from communities around San Diego County

Carlsbad City Council has approved a pilot program to allow “curb cafes” in the city’s downtown village district. A city statement said the concept is a temporary deck structure that allows restaurants to extend their outdoor dining areas beyond the sidewalk and onto parking spaces in front of the eatery.