Stories for February 2014

Friday, February 28

Websense Takes Texas Goody Bag

It’s official: Websense is moving its headquarters to Austin, Texas. The Austin Chamber of Commerce announced the move Feb. 28.

Abide Receiving $50M Upfront in Collaboration With Celgene Corp.

Privately held Abide Therapeutics Inc. has partnered with biotech titan Celgene Corp. to develop new drugs in inflammation and immunology, receiving $50 million upfront in the deal.

Isis' Stock Is Down Following Report of Q4 Results

Isis Pharmaceuticals Inc.’s stock dropped 10 percent following the announcement of its fourth quarter earnings, despite more than doubling its revenue for the quarter ended Dec. 31, 2013.

Civic San Diego Names Andrew Phillips Interim President

Civic San Diego, the non-profit agency overseeing projects in downtown and other city neighborhoods, has appointed Andrew Phillips to serve as interim president, following the recently announced departure of Jeff Graham.

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154-Room Hotel Proposed for East Village Site

Developers are proposing a new 154-room Fairfield Inn & Suites hotel, planned for a site in East Village, according to documents filed with Civic San Diego, the city’s downtown project oversight agency.

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FMT Consultants Opens Office in Century City

Citing an uptick in its Los Angeles business and seeking to build on those gains, Carlsbad-based FMT Consultants LLC has opened an office on Santa Monica Boulevard in Century City.

Business Calendar for Week of March 3, 2014

Some of the business events happening around the county for the week of March 3, 2014.

County’s January Construction Contracts Dropped Sharply from 2013

Contracts awarded in January for future construction in San Diego County were down 78 percent from the first month of 2013, according to new data from McGraw-Hill Construction.

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South County EDC Event to Discuss Creating Economic Opportunity, New School Funding Formula

Representatives of five South Bay school districts are convening March 7 to discuss a newly instituted formula that determines the amount of funds the districts get from the state.

Venture Management Fund Bright Light Management Launches

Bright Light Management, a San Diego venture management fund, aimed at helping early-stage companies, recently announced its launch.

With Some Big Help From Elephant, the Police Get Their Dog

Kudos/Giving Column

Underground Elephant is funding the adoption of a police K-9 for the San Diego Police Foundation and the San Diego Police Department in honor of their service to the community. In addition to the police canine, adoption costs will cover the canine’s food, veterinary care and training equipment.

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Employers and Insurers Welcome ACA Implementation Delay

INSURANCE: Mandate Extended Until 2016 for Medium-Size Businesses

The recent decision by the Obama administration to delay some requirements of the Affordable Care Act is giving local employers more time to comply with rules that will require them to provide affordable health insurance to employees.

Market Gains

INSURANCE: Insurers Find Acquisition Is a Good Growth Strategy

The recent acquisition of longtime San Diego insurance brokerage Barney & Barney LLC by Marsh & McLennan Agency LLC is part of an industry trend, as large insurers increase their outreach by taking over regional companies.

New Firm Reflects the Changing Dynamics of the Legal Scene

The Business of Law Column

Seltzer Caplan McMahon Vitek has lost three of its rising stars to the growing trend of large-firm lawyers starting their own firms.

Auto Lending Is a Big Boost for Credit Union Loan Portfolios

Finance Column

Most credit unions in California enjoyed fatter loan portfolios last year, driven largely by a surge in auto lending, according to a recent report from the California Credit Union League.

Backers Continue to Bet Big Money on Promising Biotechs

Biotechnology/Health Care Column

I’ll lead this week off with a couple of large financing rounds that have entered the fray in San Diego’s biotech sphere:

Being in the Right Place at the Right Time Is Everything in Tech

Technology Column

Dot-what? Lawyers and business executives recounted two sprawling technology stories during two evening presentations in late February.

Businessman Battles Insurance Cos. on Behalf of Elderly Aunt

INSURANCE: Video and Social Media Used to Make Case for Prompt Payments

Using the Internet and social media to publicize his struggle to end a protracted lawsuit, a San Diego businessman helped speed the payment of a nearly $2.2 million judgment for his elderly aunt who was severely injured in a 2011 auto accident.

Plug and Play Accelerator Seeking a Brick-and-Mortar Site

TECH: Property for Program Must Bring Proper ‘Lifestyle’

An organization concerned with getting young companies on their feet is now thinking about putting a roof over its own head. Plug and Play San Diego, which has had a virtual presence in town, plans to be in its own quarters during the first half of 2015, its leaders said.

Hotel Market Expected to Continue Drawing Buyers, Investors

PROPERTY: Suburban And Business-Oriented Properties Are Sought

Experts say San Diego County, like the rest of the state, should continue to see rising demand for hotel real estate in 2014, sparked by an improving tourism climate, ample sources of investment capital and interest rates that remain historically low.

Cashie Helps Level Playing Field With E-Commerce Platform

TECH: Company Gives Micro Merchants Web Presence, Assistance

Since local boutique owner Julien Laurent turned to San Diego-based e-commerce software company Cashie Commerce Inc. to help market his Unlabeled Shop online, his business has expanded to the world marketplace with e-customers from other states and countries.

Cox to Cut 500 Jobs, Close Call Center

Cox Communications plans to close its Copley call center in Kearny Mesa, cutting about 500 jobs in a variety of customer-care functions, the company said.

Sony to Cut 400 People Locally in Restructuring

TECH: $1.1 Billion Loss Prompts Company to Close Many of Its Branded Stores

Sony Electronics said it will cut some 400 people from its local headquarters office in Rancho Bernardo as part of a restructuring by parent Sony Corp. that will eliminate 5,000 jobs globally.

Sudberry Finds Retail Fit for Scripps Ranch

PROPERTY: Company Bringing Whole Foods as Part of Mixed-Use Project

Sudberry Properties has landed Whole Foods Market as the first anchor tenant for The Watermark, one of two commercial developments that it has in the works in San Diego’s Scripps Ranch neighborhood.

Big Data Makes For Big Forum Topic at UCSD

SDBJ Insider

Members of the MIT Enterprise Forum San Diego will examine the impact of the big data phenomenon when they gather March 12 at the University of California, San Diego.

Ideas Brewing for Exhibit at Fairgrounds

Tourism: Operators Looking To Feature Craft Beer Industry

Officials are examining ways to turn San Diego County’s burgeoning craft beer industry, which racked up more than $780 million in 2013 sales, into a year-round attraction at the Del Mar Fairgrounds.

Problems Plague Park’s Centennial Celebration

CIVIC: CEO Resigns, While Fundraising Efforts Hit Snags

Balboa Park Centennial Inc., the nonprofit group formed to stage a year-long celebration of the 1915 Panama California Exposition, lost its third CEO since it was formed, calling into question to what extent the party will go on.

S.D. Still in the Field Of Olympics Hopefuls

SPORT: Choices for U.S. Bid For 2024 Down to 5 or 6 Cities

Don’t look for San Diego’s bid to host the 2024 Summer Olympic Games to resemble anything remotely close to the $51 billion that Russia spent to host the Winter Olympics in Sochi.

Military Decisions

DEFENSE: Pentagon’s Fiscal 2015 Spending Plans Are Mixed Bag for Region

Northrop Grumman Corp.’s odd-looking Global Hawk aircraft might better have been named the Phoenix, since the bird seems to be rising from its own ashes.

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Thursday, February 27

Cox Communications Closing Local Call Center, Cutting 500 Jobs

Cox Communications said it is closing its Copley call center in Kearny Mesa, cutting about 500 jobs in a variety of customer-care functions.

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Sempra Reports 2013 Net Income of $1 Billion

Sempra Energy, parent of San Diego Gas & Electric and other subsidiaries, reported full year 2013 net income of $1 billion, compared with net income of $859 million in 2012.

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Sequenom Inc. Increases Revenue 81% in 2013

Genetic testing company Sequenom Inc. grew its revenue 81 percent in 2013, and posted lower cash burn for the year than in 2012.

Halozyme Reports Q4, 2013 Results

Halozyme Therapeutics Inc. posted significantly greater losses in fourth quarter of 2013 than analysts projected.

Loans on Escondido Apartments Get $37.5 Million Refinancing

Maryland-based Walker & Dunlop Inc. has provided approximately $37.5 million in loan refinancing for Latitude 33 Apartments, a new 198-unit multifamily community in Escondido developed by Lyon Communities of Newport Beach.

El Cajon Retail Center Sells for $5.3 Million

MDA El Cajon One LLC of Rancho Santa Fe has purchased the El Cajon Towne Center retail property for approximately $5.3 million, according to CoStar Group and public data.

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Novatel's Machine-to-Machine Radios to Be Used by Vehicle Tracking Systems

A Long Island, N.Y. maker of vehicle tracking electronics is updating its product line with the help of San Diego-based Novatel Wireless.

San Diego North EDC to Host Economic Summit

The San Diego North Economic Development Council will host its first North County Economic Summit March 5 from 7 a.m. to 10:30 a.m. at the Sheraton Carlsbad Resort & Spa.

Wednesday, February 26

Encore Capital Taking Controlling Interest in 2 International Companies

Encore Capital Group Inc., a specialty finance company, has taken a controlling stake in a Latin American company and has agreed to do the same with one in the U.K.

Qualcomm’s Snapdragon 801 to Power Samsung’s Galaxy S5 Smartphone

Qualcomm Inc. said its Snapdragon 801 processor is powering Samsung’s newest flagship smartphone, the Galaxy S5.

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Prebys Trust Buys Santee Land Parcels for $36 Million

Conrad Prebys Trust of San Diego has acquired two undeveloped Santee land parcels, totaling approximately 33 acres, for $36 million, according to CoStar Group and public data.

General Dynamics Defense Deal Could Be Worth $250.1 Million

General Dynamics Corp. said that its Advanced Information Systems unit received a subcontract that could be worth as much as $250.1 million over 10 years if its U.S. Navy customer exercises all options.

Accelrys Reports Q4, 2013 Revenue

Accelrys Inc. reported incremental fourth quarter increases, growing Non-GAAP revenue from $47.5 million in the quarter ended Dec. 31, 2012 to $47.6 million in the like quarter of 2013.

Westin San Diego Completes $15 Million Renovation

Operators of downtown’s Westin San Diego have completed a $15 million renovation, including upgrades to the hotel’s 436 guest rooms.

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Karl Strauss Holding Job Fairs as Remodeling Changes Staffing Needs

Karl Strauss Brewery’s Sorrento Valley site is undergoing a remodel, triggering the layoff of 67 employees last month.

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Tuesday, February 25

Thesan Pharmaceuticals Closes $49 Million Financing Round

Carlsbad-based Thesan Pharmaceuticals Inc. closed a $49 million Series B financing round.

Neurocrine Biosciences Proposes Common Stock Offering of 7 Million Shares

Neurocrine Biosciences Inc. has proposed an offering of 7 million shares of its common stock.

ROIC Posts Gains in Revenue, Income for Q4, 2013

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, reported revenue and net income up significantly from a year go for its fourth quarter and full-year 2013.

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Supplier Forum Is Opportunity for Local Businesses to Make Big Connection

The Otay Mesa Chamber of Commerce and the San Diego Center for International Trade Development will host a supplier forum March 6 in Chula Vista featuring Medtronic, a $16 billion medical technologies company based in Minneapolis.

Cubic’s Stock Ticker Symbol Gets an ‘LF’ Added to It, for Now

Cubic Corp. said on Feb. 25 that the New York Stock Exchange is changing the company’s ticker symbol to indicate it will be late in filing its financial statement from the quarter ended Dec. 31.

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Pulse Electronics Achieves Debt Management Agreements

Pulse Electronics Corp., a San Diego based maker of electronic components, reached agreements with its debt holders that reduces its debt and the funds needed for debt repayment, the company said.

Lytx Driver Safety Program to Be Used By Con-Way Fleet

Lytx Inc., a company focusing on driver safety and compliance, announced that Con-Way Freight has rolled out Lytx’s DriveCam driver safety management program fleetwide to more than 8,500 vehicles.

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Luna Grill Is Expanding, Plans Texas Locations

Luna Grill is accelerating its expansion and has selected Texas to host the first group of out-of-state locations, the company said.

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Hot Dog Chain Dog Haus Plans Expansion into San Diego

Pasadena-based Dog Haus, a fast-casual restaurant chain serving custom-made gourmet hot dogs, plans to open five San Diego County locations starting later this year, after entering into an agreement with local franchisees Laura Zhang and Calvin Lee.

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Monday, February 24

Pentagon Proposal Favors Northrop Grumman’s Global Hawk Over U-2 Spy Aircraft

In a surprise twist, the Pentagon has proposed retiring the U-2 high altitude spy aircraft in favor of the unmanned Global Hawk, a San Diego product.

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Sempra Increases Annual Dividend 4.8%

Sempra Energy, the San Diego holding company for San Diego Gas & Electric and other subsidiaries, said its board of directors approved a 4.8 percent increase in the annual dividend it pays to shareholders to $2.64 per share from the prior dividend of $2.52 per share.

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DJO Global Reports Q4 Results

DJO Global Inc., the Vista-based maker of orthopedic devices, reported a 2013 fourth quarter net loss of $132 million, compared with a net loss of $47 million for the like quarter of 2012.

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Qualcomm Unveils 2 New Snapdragon Processors

Qualcomm Inc. took the wraps off of two Snapdragon processors Feb. 24.

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DexCom's Revenue UP, Losses Down for Recent Quarter, Year

DexCom Inc., a biotech company specializing in glucose monitoring, reported revenue of $160 million for the year ended Dec. 31, 2013, a 60 percent increase from 2012, while its losses were down considerably.

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GA-ASI Nabs $94M in Contract Modifications

The U.S. Army awarded General Atomics Aeronautical Systems Inc. two contract modifications worth $94.3 million.

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Fresh Healthy Vending Agrees to Acquire Micro-Market Platform and Assets

Fresh Healthy Vending International Inc. has entered into a nonbinding term sheet to acquire an integrated micro-market platform and all micro-market assets and operations from Corporate Refreshment Services LLC.

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T.B. Penick Completes Work on $12 Million Sheriff’s Station

San Diego-based general contractor T.B. Penick & Sons Inc. has completed construction on the $12 million Rancho San Diego Sheriff’s station in Spring Valley.

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Volcano Corp. Reports Q4 Revenue of $103.3M, Loss of $20.5M

Volcano Corp. recorded a $20.5 million net loss for its recently completed quarter, despite seeing its revenue increase slightly compared with the same quarter in 2012.

SR Commercial Buys Industrial, Office Properties for $6 Million

SR Commercial of Solana Beach has bought an Escondido retail-industrial property and a Murrieta office building for $6 million.

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Sunday, February 23

Tax Collector to Auction Off Nearly 300 Parcels

San Diego County Treasurer-Tax Collector Dan McAllister has scheduled an auction of nearly 300 parcels March 19 at the San Diego Convention Center.

Austin Vying for Websense as the Company Considers Its Relocation Options

San Diego-based Websense Inc. may be considering more than one city as its new headquarters location. Meanwhile, city leaders in Austin, Texas, have OK’d an incentive package to bring Websense to their city, sweetening a multimillion-dollar deal offered by the state government.

AMN Healthcare Reports Net Income of $33 Million for the Year

AMN Healthcare Services Inc., the San Diego provider of health-care staffing, reported 2013 fourth quarter net income of $8.4 million, up 18 percent from the same quarter of 2012.

Shea Homes Buys 17 Lots in Carlsbad for $6.15 Million

The San Diego regional office of Shea Homes has purchased 17 land lots in Carlsbad for $6.15 million, according to brokerage company Lee & Associates, which represented the seller.

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The Business Calendar for Week of Feb. 24, 2014

Some of the business events happening around San Diego County for the week of Feb. 24, 2014.

Sentek Global Inc. Promotes Galetti to COO Position

Sentek Global Inc. said that it has promoted Jason Galetti to COO.

Carlsbad Apartment Complex Sells for $6 Million

PUR Villas Carlsbad LLC has purchased the 24-unit Villas La Costa apartment property in Carlsbad for approximately $6 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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CEO of Rady Children's Hospital to Retire

Kathleen Sellick, president and CEO of Rady Children’s Hospital-San Diego, will retire after eight years at the helm, citing medical reasons.

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Friday, February 21

Diet and Exercise Tips Can Make Big Changes in Kids’ Lives

I was pleased and honored to be invited to participate in the third annual “Little Jumps…BIG Changes” campaign on Feb. 14 at the Roberts Family Branch of the Boys and Girls Clubs in Linda Vista.

Form a ‘Business Plan’ to Fight Climate Change

If nine doctors out of 10 told you that your child was struggling with a life-threatening illness and agreed on a set of treatments, what would you do?

House Rules

FINANCE: Lenders can still make loans outside the new guidelines, but at greater risk

Like many borrowers seeking a mortgage or refinancing an existing one, Shae Geary knew the process would involve a lot more time and paperwork.

Executive Profile: Brian Lee

Brian Lee is senior vice president and area president of Wells Fargo’s North San Diego Community Bank.

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New SBA Administrator Ready to Tackle ‘Chief Evangelist’ Role

The new Western regional administrator for the Small Business Administration can relate to what many small business owners are dealing with — she was in their shoes at one time.

Bridge Just Part of More Business Links Expected With Mexico

“I’ve always told people that I had a bridge to sell them,” billionaire investor Sam Zell quipped during a recent real estate conference in San Diego. “Now I’ve actually got a … bridge.”

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Carmel Valley Housing Covers The Checklist of Amenities

A wealthy, coastal community, Carmel Valley is one of San Diego’s newest master-planned communities. It’s central location, award-winning schools, and nearby commercial offices, hotels, retail and restaurants make it an ideal location for working professionals and families.

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Golden Goose Award Goes to Local Physicist for Contribution

Honk if you love science. There is such a thing as the Golden Goose Award, and rest assured, winning it is a good thing.

What’s Next Move for World Trade Center S.D. After Relocating?

TRADE: Amid Financial Strain, Move to University Keeps Organization Open

World Trade Center San Diego is moving to a new home at San Diego State University, but how long it stays there or continues is unclear.

New Version of LEED Adds Incentives for More Sustainability

ENERGY: Construction Materials, Supplies Added To Certification Equation

The national certification program that rewards green building construction is undergoing its own renovation, and California regions including San Diego County are expected to remain on the forefront of compliance with new reporting standards. The nonprofit U

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Tealium’s Tag-Management Tools Simplify Use of Website Data

TECH: Platform Provides Faster Control For Targeted Marketing Campaigns

The ability for companies to gather data from people visiting their websites has enabled them to know their market better than ever, yet culling and using the potentially endless supply of data can overwhelm those who seek it.

Signatures OK’d On Linkage Fee Ballot Measure

The San Diego County Registrar’s Office has verified 53,107 signatures gathered by opponents of a hike in commercial developer linkage fees recently approved by San Diego City Council. The issue will now go on the June 3 special election ballot unless the City Council votes to rescind the increase.

SoCal’s Multifamily Market Brings Co. to S.D.

PROPERTY: Richman Plans to Take Advantage Of Infill in Good Markets

Connecticut-based developer The Richman Group of Cos. is staking its claim in the West Coast apartment market by establishing its California base in San Diego, continuing its westward push of the past three years.

MediaTek Inc. Expanding to Sorrento Valley

TECH: Microchip Maker Will Add a $3 Billion Presence to ‘Wireless Valley’

Chipmaker MediaTek Inc. wants to set up shop in Sorrento Valley as part of a global expansion and a push to serve the world’s growing middle class.

Economist to Address Housing Outlook for 2014

Selma Hepp, a senior economist with the California Association of Realtors, will offer an outlook on housing for 2014 at the San Diego-area trade group Pacific Southwest Association of Realtors’ next meeting March 6 in Chula Vista.

Vibra Brings Longtime Exec out of Retirement

Banking: For New CEO, Taking on Challenge Is Old Hat

Frank Mercardante is back at the helm of a local community bank after being been named chief executive of Vibra Bank in Chula Vista. It’s a job he wasn’t seeking, but given the chance to return to banking he’ll take it.

Sentek Global Names Galetti to COO Position

Sentek Global Inc. said that it has promoted Jason Galetti to COO.

Austin Vies for Websense as Company Considers Its Relocation Options

San Diego-based Websense Inc. may be considering more than one city as its new headquarters location. Meanwhile, city leaders in Austin, Texas, have OK’d an incentive package to bring Websense to their city, sweetening a multimillion-dollar deal offered by the state government.

Tax Collector to Auction Off Nearly 300 Parcels in Delinquent Status

San Diego County Treasurer-Tax Collector Dan McAllister has scheduled an auction of nearly 300 parcels on March 19 at the San Diego Convention Center.

Food Truck Number Spurs Reservations

Dining: New Rules Proposed To Regulate Mobile Eateries

Food truck operator Jay Margolin doesn’t like the idea of limiting where his loyal followers can find his New York on Rye, which has served East Coast-style deli food at office parks, festivals and other venues throughout the local region for the past three years.

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Slacker Must Stand Out in Internet Crowd

RADIO: New CEO Needs To Boost Brand Awareness

Internet radio provider Slacker Inc. has tapped an executive from Nintendo of America Inc. and The Walt Disney Co. to further its growth and face its rivals in a crowded musical marketplace.

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AMN Healthcare Reports Yearly Net Income of $33 Million

AMN Healthcare Services Inc., the San Diego provider of health-care staffing, reported 2013 fourth quarter net income of $8.4 million, up 18 percent from the same quarter of 2012.

Rady Children's Hospital CEO Retiring

Kathleen Sellick, president and CEO of Rady Children’s Hospital-San Diego, will retire after eight years at the helm, citing medical reasons.

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March Madness Ball in Our Court

SPORTs Business: NCAA Tourney Promises To Bring Crowds, Cash and Publicity to San Diego

San Diego is about to go mad — in a way that’s sure to make its tourism and hospitality industries quite happy.

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Carlsbad Apartment Property Sells for $6 Million

PUR Villas Carlsbad LLC has purchased the 24-unit Villas La Costa apartment property in Carlsbad for approximately $6 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

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Shea Homes Buys 17 Carlsbad Lots for $6.15 Million

The San Diego regional office of Shea Homes has purchased 17 land lots in Carlsbad for $6.15 million, according to brokerage company Lee & Associates, which represented the seller.

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Business Calendar for Week of February 24, 2014

Some of the business events happening in the county for the week of February 24, 2014.

Thursday, February 20

Defense Contract Could Be Worth $35M for Leidos Inc.

Leidos Inc., one of the two companies created with the 2013 split of SAIC, said on Feb. 20 that it received software work from the U.S. Strategic Command that could be worth as much as $35 million if the government exercises all of its options.

Maxwell Technologies Reports Net Income of $6.3M for the Year

Maxwell Technologies Inc. — a San Diego maker of ultracapacitors, high-voltage capacitors and microelectronics — reported a net loss of $2.8 million on revenue of $39 million during its fourth quarter, which ended Dec. 31.

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Graham Leaving Civic San Diego Post to Join Jones Lang LaSalle

Jeff Graham is leaving his post as president of Civic San Diego, the city’s project and planning oversight agency for downtown and other neighborhoods, to become a senior vice president in the San Diego office of commercial real estate services company Jones Lang LaSalle Inc.

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Jack in the Box Reports Net Income of $32.3 Million for Q1

Jack in the Box Inc. reported net income of $32.3 million for its fiscal 2014 first quarter, compared with net income of $20.7 million for the like quarter of 2013.

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Pyramid Building in Miramar Sells for $13.6 Million

Alliance Diversified Holdings LLC, a San Diego-based private equity firm, has acquired the Miramar office property known as the “Pyramid Building” for $13.6 million, according to Voit Real Estate Services, which represented the buyer and seller.

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Vibra Bank Reports Net Loss of $124,000 for the Year

Vibra Bank, the Chula Vista bank that hired a new chief executive last week, reported 2013 fourth quarter net income of $44,000, compared with $183,000 for the like quarter of 2012.

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Wednesday, February 19

San Diego County Regional Airport Authority Issued $305M in Bonds for Rental Car Facility

The San Diego County Regional Airport Authority, the agency that manages Lindbergh Field, said it issued $305.3 million in senior specialty facility revenue bonds to finance its planned rental car center.

Plug Being Pulled on UT-TV’s Cable Presence

U-T San Diego’s television station, U-T TV, is going off cable, the media company announced.

MaintenanceNet Closes $12M Funding Round

MaintenanceNet of Carlsbad said it closed a $12 million funding round led by Los Angeles-based Kayne Partners.

McCarthy Building Cos. Completes J. Craig Venter Institute, La Jolla

McCarthy Building Companies Inc. has completed construction of the new J. Craig Venter Institute, La Jolla.

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Scripps Facility Opens, First to Exclusively Use Most Precise Form of Proton Therapy

The opening of Scripps Proton Therapy Center makes it the first proton center in the United States to treat patients exclusively with “pencil-beam scanning,” the most precise form of proton radiation therapy, in every treatment room, Scripps said.

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2 Local Small Businesses to Compete for Navy Contracts for Cultural Evaluation Work

Though it can’t promise the intrigue of an “Indiana Jones” movie, the U.S. Navy can promise work in the archaeological space.

Whole Foods Plans Store in Scripps Ranch

Whole Foods Market plans to open a new store in San Diego’s Scripps Ranch neighborhood, among several upcoming nationwide locations recently announced by the Austin, Texas-based grocer.

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Tuesday, February 18

Registrar Certifies Signatures Allowing for June Ballot Vote on Linkage Fees

The San Diego County Registrar’s Office has verified 53,107 signatures gathered by opponents of a hike in commercial developer linkage fees recently approved by San Diego City Council.

MD Revolution Raises $7 Million in Series B Round of Financing

MD Revolution Inc. has raised $7 million in a series B round of funding and named two appointments to its board of directors, the company announced.

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Illumina Launching ‘World’s First’ Genomics Incubator

Illumina Inc. is launching what it bills as the world’s first genomics incubator, saying it has teamed up with technology billionaire Yuri Milner and Silicon Valley Bank to invest hundreds of thousands of dollars in startups.

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Cubic Corp. Announces Dividend

Cubic Corp. said that it will pay out a semiannual dividend of 12 cents per share March 14.

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CUSTOpharm Acquires Aspire eCTD LLC

CUSTOpharm Regulatory Services Inc. has acquired Aspire eCTD LLC, the acquiring company announced.

Novatel Sees Machine-to-Machine Market Building

Novatel Wireless Inc., the San Diego maker of wireless modems and software, said it received purchase orders of about $7 million and also executed a supply agreement with an initial order totaling $8.2 million to provide its systems to a range of customers spanning the after-market telematics, commercial telematics, and remote management and control markets.

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Stillings Joins the Board of Directors of Sustainable Surplus Exchange

Irene Stillings, recently retired executive director of the California Center for Sustainable Energy, has joined the board of directors of the Sustainable Surplus Exchange.

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Sonic Drive-In Opening New Restaurant in Kearny Mesa

Sonic Drive-In plans a Feb. 24 opening for its sixth regional restaurant and first in the city of San Diego, at 5247 Kearny Villa Road in Kearny Mesa.

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Westgate Hotel Completes Renovation of Rooftop Events Space

The luxury Westgate Hotel in downtown San Diego has completed an extensive renovation, including a 10,000-square-foot rooftop deck with an events space.

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Construction Will Impact Weekend Rail Services in March

Planned construction at four local rail corridor sites will bring interruptions in weekend Coaster, Amtrak and Metrolink services during the month of March.

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Pacific Home Mortgage Funding Moves to New, Bigger Office in Solana Beach

Pacific Home Mortgage Funding Inc., a Solana Beach based mortgage brokerage, moved to a larger office nearby at the Del Mar Corporate Center at 990 Highland Drive.

Monday, February 17

Qualcomm Pulls Plug on New Snapdragan Chip

Qualcomm Inc. is canceling its Snapdragon 802 chip, meant for smart TVs.

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Downtown Commercial Parcel Bought for $4.85M

A local limited liability corporation that includes Imad Mansour has bought a commercial land parcel in downtown San Diego for $4.85 million.

San Diego Airport Bond Ratings Affirmed

Fitch Ratings affirmed the credit ratings on bonds issued by the San Diego Regional Airport Authority, with nearly $380 million of senior revenue bonds receiving an A+ rating, $571 million of subordinate revenue bonds getting an A, and the overall bond rating outlook deemed stable.

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Franklin Wireless Posts Improved Second-Quarter Revenue, Profit

Franklin Wireless Corp., a Sorrento Mesa-based business that designs and manufactures wireless modules and modems, reported net income of $127,000 on net sales of $7.55 million during its second quarter, which ended Dec. 31.

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Coastal Commission Approves Carlsbad’s New Open Space at City Golf Course

The California Coastal Commission has approved the city of Carlsbad’s creation of 40 acres of open space at the city’s municipal golf course known as The Crossings at Carlsbad.

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Petco Park Among First Two Stadium's Rolling Out MLB's iBeacon-Based App

Fans visiting Petco Park who have smartphones can take advantage of new wireless technology installed to help them find their seats or what’s on the menus of certain concession stands.

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Sunday, February 16

Scripps Buys Oceanside Land for New Facility

San Diego-based Scripps Health has purchased 4.4 acres of Oceanside commercial land, which previously housed a car dealership, for approximately $6.5 million, according to CoStar Group and public data.

Ceremony Marks Start of Construction on Kaiser's $900M Hospital

Kaiser Permanente has broken ground on its new $900 million hospital being built in Kearny Mesa.

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Revenues Are Up for Q4 and 2013 at Realty Income

Escondido-based Realty Income Corp. saw revenue rise 62.4 percent from a year ago in its fourth quarter ending Dec. 31, reaching $215.7 million.

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Leadership Change Brings Mercardante to Vibra Bank

Vibra Bank, with a single office in Chula Vista and about $112 million in total assets, said goodbye to Scott Parker, the chief executive who spearheaded the bank’s founding in 2008, and hello to his replacement, longtime banking executive Frank Mercardante.

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Sonrgy Appoints CEO

Sonrgy Inc. made two key appointments, including naming Brian O’Callaghan the company’s chairman and CEO.

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The Business Events Calendar for the Week of Feb. 17, 2014

Some of the business events scheduled for the week of Feb. 17, 2014.

It Is Nomination Time for "Best Places to Work" Awards of 2014

Help acknowledge your company as one of San Diego’s “Best Places to Work.” The San Diego Business Journal is now accepting nominations for this popular program through March 28. The annual recognition program, supplement and event feature the region’s most highly ranked companies.

Symposium to Examine 20 Years of NAFTA

The University of California, San Diego’s "Mexico Moving Forward "symposium will be held March 6th from 8:30 a.m. to 6:00 p.m., free of charge, and open to the public, at the Sanford Consortium Auditorium.

Kratos Gets $5.2M Government Order

Kratos Defense and Security Solutions Inc. recently received a $5.2 million order for unspecified blast-resistant and hardened products.

Friday, February 14

Business Calendar for the Week of February 17, 2014

Some of the business events happening the week of February 17, 2014.

Creating a Borderless, Prosperous Mega Region

“The destinies of the U.S. and Mexico are inextricably linked.” “We should act as though the map doesn’t have a border.”

Scripps Health Buys Former Car Lot Land for Oceanside Facility

San Diego-based Scripps Health has purchased 4.4 acres of Oceanside commercial land, which previously housed a car dealership, for approximately $6.5 million, according to CoStar Group and public data.

McCarthy Employees Are the Best Dressed for a Heartfelt Cause

McCarthy Building Companies Inc. employees and subcontractors wore red on the first Friday in February in support of the American Heart Association’s National Wear Red Day. The campaign is designed to focus attention on the number one killer of women: heart disease. McCarthy has been a strong supporter of the Association’s efforts since 2004.

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Executive profile: Casey Fatch

Casey Fatch was named interim CEO of Tri-City Medical Center following the dismissal of Larry Anderson. Fatch, who remains Tri-City’s chief operating officer and executive vice president, is the former CEO of Pacifica Hospital of the Valley, in the Los Angeles area, and he has held other health care management positions.

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Finding Its Direction

Economy: North County Looks to Build On Its Key Industries

North County, home to nearly 900,000 and stretching across beach, mountain and desert, is full of contradiction.

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Honored Guest Shattered a Big Glass Ceiling With Her Gavel

The Lawyers Club of San Diego has landed Sandra Day O’Connor, retired associate justice of the U.S. Supreme Court, for its 2014 annual dinner May 8. As the first woman appointed to the Supreme Court, O’Connor is the perfect selection. She — more than most others — raised the bar for women in the legal profession. She also was one of the first high-profile legal leaders to help break the mold that women couldn’t be conservative or practice effectively beyond family law. About 500 lawyers, judges and other friends of Lawyers Club usually attend. You could sponsor.

Clinical Trial Process and Human Side of Huntington’s Disease

The man’s voice shook as he described the “degradation” that comes with Huntington’s disease. He talked of the unsteady legs, the decrease in cognition and memory span, and the uncontrollable writhing movements — called chorea — that make simple things like standing up or walking straight a painful challenge. And he asked if I could help.

There Are Good Reasons You Don’t See New Banks Opening

Given all the bank failures, mergers and acquisitions that shrank San Diego’s community banking landscape in the past several years, one might assume it would be a great time to form a new bank here.

Technology Revs Up Allowing Many Truck Engines to Shutdown

Pretend for a moment that you are not in San Diego. Your job is to drive a snowplow. One of those big blizzards you’ve seen in the news is poised to strike your town, and the boss has stationed you downtown in your truck. It’s cold. No, really cold. You need to run your cab heater while you wait, so of course you have to run your engine at idle.

Zoo’s Animal Magnetism Draws Visitors, Dollars to S.D. Region

TOURISM: Along With Safari Park, It Delivers $875M Economic Impact

Those cute pandas at San Diego Zoo apparently create more than global attention. They also helped the zoo and its Safari Park generate more than $875 million in regional economic impact in 2012, according to a newly issued report.

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Sony Unloads Vaio PC Unit, Embarks on Massive Restructuring

TECH: Decision’s Impact On Local Office and Tijuana Maquiladora Is Unclear

About four years ago when Sony Electronics unveiled its gleaming headquarters office in Rancho Bernardo, there was plenty of optimism surrounding the division, which moved from New Jersey earlier in the decade.

App Is Eyeing the Road and the Driver Monitoring Market

TECH: Zenhavior Is Working With Insurance Cos. in Growing Segment

Imagine starting up the engine in your car while your smartphone is silently tracking not only your destination and speed, but how well you actually drive. San Diego-based mobile technology startup Zenhavior Inc. is developing a phone app, called Overpass, which can quantify driver behavior using the sensors in smartphones.

Kratos Receives $5.2M Order From Government

Kratos Defense and Security Solutions Inc. recently received a $5.2 million order for unspecified blast-resistant and hardened products.

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Realty Income Sees Revenue Rise in Fourth Quarter and for 2013

Escondido-based Realty Income Corp. saw revenue rise 62.4 percent from a year ago in its fourth quarter ending Dec. 31, reaching $215.7 million.

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Mexico Moving Forward Symposium to Examine 20 Years of NAFTA

The University of California, San Diego’s "Mexico Moving Forward "symposium will be held March 6th from 8:30 a.m. to 6:00 p.m., free of charge, and open to the public, at the Sanford Consortium Auditorium.

Needs of Navy Addressed at 2014 Convention

DEFENSE: Wearable Computers, Cybersecurity Are on the Must-Have List

A U.S. Navy admiral told industry leaders that the military needs resilient, reliable and affordable technology from its suppliers. He also said that he sees a future in the military for wearable computer technology, such as glasses that place a computer monitor near a wearer’s eye.

Kaiser Breaks Ground on $900 Million Kearny Mesa Hospital

Kaiser Permanente has broken ground on its new $900 million hospital being built in Kearny Mesa.

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Cadence to Be Acquired in $1.3B Cash Deal

Pharma: Irish Drug Maker Attracted by Sales Of Pain Relief Medication

San Diego-based Cadence Pharmaceuticals Inc. is being acquired by Irish specialty drug maker Mallinckrodt PLC for $1.3 billion.

“Best Places to Work” 2014 Awards Is Accepting Nominations

Help acknowledge your company as one of San Diego’s “Best Places to Work.”

Weather Draws Conference of Climate Experts

The lack of frigid conditions locally — while more than 80 percent of the U.S. was covered in snow and ice in late January — might be one reason why organizers are holding the Climate Leadership Conference here Feb. 24-26 at the Hyatt Regency Mission Bay.

Retail Part of Project Near Carmel Valley

PROPERTY: Residential Growth In Northern Area Has Been Big

Developer Coast Income Properties Inc. will begin work soon on The Village at Pacific Highlands Ranch, a mixed-use project planned for an area of northern San Diego where retail development has lagged far behind the arrival of thousands of new homes in recent years.

Online Poker Big Deal For Indian Casinos

GAMING: State Legalization Would Present Opportunities

Local Native American casino operators are mulling how they might incorporate online poker into their business plans as research suggest that state laws prohibiting it might be changing.

Postal Service Ponders Future in Underbanked

FINANCE: Cash-Strapped Entity Faces Flood of Criticism

The U.S. Postal Service has an answer for the growing legions of folks who are under-banked: It wants to offer banking services. In a white paper released last month by the Office of Inspector General for the Postal Service, the agency makes a case that it could help an estimated 68 million adults in this country who don’t have a bank account and use costly services such as payday loans to get by.

Juvenile Market Opens For DexCom Device

BIOTECH: Company Expects 30% Jump in Revenue in 2014

Regulators have deemed DexCom Inc’s newest blood sugar monitor safe and accurate for children, opening an underserved — and lucrative — juvenile diabetes market for a company whose stock and revenue have already been ablaze this year.

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Wireless & Wearable

Technology: Companies of All Sizes Exploring Burgeoning Market Offered By Devices We Will Wear

Qualcomm Inc. executive Nikhil Jain recalls the day that then-CEO Paul Jacobs called him to ask whether he would like to work on a watch.

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Sonrgy Names O’Callaghan Chairman and CEO

Sonrgy Inc. made two key appointments, including naming Brian O’Callaghan the company’s chairman and CEO.

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Leadership Change Brings Frank Mercardante to Vibra Bank as New CEO

Vibra Bank, with a single office in Chula Vista and about $112 million in total assets, said goodbye to Scott Parker, the chief executive who spearheaded the bank’s founding in 2008, and hello to his replacement, longtime banking executive Frank Mercardante.

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Thursday, February 13

California Bank & Trust Reports Yearly Net Income of $140M

California Bank & Trust, San Diego’s largest lender with nearly $11 billion in total assets, reported net income of $140 million for last year, up 10.2 percent from its net profit in 2012.

Group 1 Automotive Buys Escondido Dealership

Houston-based Group 1 Automotive Inc. has purchased the Heller Ford Hyundai dealership in Escondido, which included the $8 million purchase of two retail buildings on the lot, according to CoStar Group and public data.

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Local Median-Priced House Is $405,000 for January

The median price for a single family house in San Diego dipped 3.6 percent in January from the prior month’s median price to $405,000, said Dataquick, the La Jolla real estate research firm.

Lemon Grove Residential Land Sells for $5.8 Million

PGI Investments of Carlsbad has purchased 16 acres of residential land in Lemon Grove for approximately $5.8 million, according to brokerage firm Colliers International, which represented the buyer and seller.

Overland Storage Reports Q2 Results

Overland Storage Inc., the Kearny Mesa company specializing in data storage and data protection technology, reported a net loss of $4.3 million on net revenue of $10.6 million during the second quarter of its fiscal year, which ended Dec. 31.

Intercare Insurance Announces Addition to Its Leadership Team

Gigi Fioravanti has joined Intercare Insurance Solutions as executive vice president and health and performance practice leader, the company announced.

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Wednesday, February 12

San Diego Plans Bid for 2017 America's Cup

San Diego port commissioners said they want to host the next America’s Cup yacht races, and directed the staff of the Port of San Diego to present a bid on the event scheduled for 2017.

Local Median-Priced House Affordable to 28% of Residents

California homebuyers need an annual income of about $89,000 to qualify for the purchase of a median-priced single family home of $431,510 as of the fourth quarter of 2013, according to the California Association of Realtors.

Sempra Receives Conditional Approval to Export Liquefied Natural Gas From Louisiana Facility

Sempra Energy received conditional authorization from the U.S. Department of Energy to export liquefied natural gas, from the facility it is building in Louisiana, to countries with — and those without — a free trade agreement with the United States.

Eisai Attempting to Sell Arena's Weight-Loss Drug, Belviq, in Brazil

San Diego-based Arena Pharmaceuticals Inc. announced plans to sell its weight-loss drug, Belviq, in Brazil.

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Family-Owned Businesses to Be Honored at San Diego Business Journal Awards Program

The San Diego Business Journal is bringing back one of its most popular programs to the roster of high profile awards recognitions. The Family-Owned Business Awards 2014 will honor those San Diego County organizations and the individuals in them that have become part of the history and culture of our region.

Homebuilder Buys Residential Land in San Marcos for $15.6 Million

Homebuilder Richmond American Homes of Maryland Inc., with a regional office in Irvine, has purchased five acres of residential land in San Marcos for $15.6 million, according to CoStar Group and public data.

Eric Topol Appointed Chief Medical Advisor for AT&T

AT&T appointed Eric Topol, MD, as its chief medical advisor.

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Tuesday, February 11

Cadence Pharmaceuticals Being Sold to Irish Drug Company for $1.3 Billion

San Diego-based Cadence Pharmaceuticals Inc. is being acquired by Irish specialty drugmaker Mallinckrodt PLC for $1.3 billion.

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Port District Seeks Public Input on 50-Year Vision Plan for Bay

The Port of San Diego has scheduled two community workshops, where residents and business operators can give input on the port district’s 50-year vision plan, guiding future land and water uses in San Diego Bay.

San Diego Tech Coast Angels Invests Nearly $3M During Q4

San Diego Tech Coast Angels said it invested nearly $3 million in 10 startup companies in the fourth quarter, the busiest quarter in the past year. The dollar amount came to about 40 percent of the SDTCA’s total annual investment of $7.3 million.

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Imprimis Pharmaceuticals Agrees to Buy Pharmacy Creations

Imprimis Pharmaceuticals Inc. has agreed to buy Pharmacy Creations LLC for a base price of $600,000 dollars.

Frozen Food Gift Group Plans to Merge With Missouri Sports, Utility Products Company

Frozen Food Gift Group Inc., a San Diego public company in the process of diversifying its portfolio, said it signed a letter of intent agreement to merge with APT Group Inc., a Kansas City, Mo.- based maker of utility and sports products.

El Cajon Apartment Property Sells for $8.9 Million

San Diego-based A Woods LLC has purchased the 60-unit Amber Woods Apartments in El Cajon for $8.9 million, according to CoStar Group and public data.

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Conrad Prebys Donates $20M to SDSU for Scholarships

San Diego philanthropist Conrad Prebys recently donated $20 million to San Diego State University — the largest gift the school has received — to help start several endowed scholarships, according to the university.

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Kratos Defense Deal Could Be Worth $29.6 Million

Kratos Defense and Security Solutions Inc. said on Feb. 11 that it will provide the U.S. Navy with certain systems and services for unmanned drones.

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San Diego Marriott in Gaslamp Adds Scenic Indoor Site for Business Meetings, Events

City Sights, an indoor extension of the open-air ALTITUDE Sky Lounge, is now open on the 22nd floor of the San Diego Marriott in Gaslamp Quarter.

Monday, February 10

Fox Sports, Time Warner Cable Reach Agreement to Televise Padres Games

Padres fans living in areas being served by Time Warner Cable will be able to watch their team on television following the news that the cable company and Fox Sports San Diego reached a long-contested agreement.

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Mast Therapeutics Agrees to Buy Aires Pharmaceuticals in $5.2M Deal

Mast Therapeutics Inc. has agreed to acquire Aires Pharmaceuticals Inc. at a steep discount, in an all-stock deal worth about $5.2 million.

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Torrey Pines Building Housing Scripps Research Sells for $64 Million

Pasadena-based Alexandria Real Estate Equities Inc. has purchased a Torrey Pines office and industrial building for $64 million, according to CoStar Group and public data.

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Encore Subsidiary Acquires UK Debt Collection Business

Encore Capital Group Inc., the San Diego collector of charged off credit card debt, said its United Kingdom subsidiary, Cabot Credit Management, acquired Marlin Financial Group, an U.K. debt collection business, for 295 million pounds or $484 million.

Ligand to Receive $1 Million Milestone Payment From Onyx

Ligand Pharmaceuticals Inc. announced that it has earned $1 million commercial milestone payment from Onyx Pharmaceuticals.

Cubic Finds Errors, Will Restate Financial Results

Cubic Corp. said that it plans to restate its financial results from fiscal 2012 and fiscal 2013.

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Biocom Announces New Executive Director

The Biocom Institute announced that Kristie Grover has resigned as executive director, effective Feb. 28.

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San Diego Hyatt House Among Hotels in $313 Million Acquisition

The 193-room Hyatt House San Diego/ Sorrento Mesa is among 10 hotels being purchased by Maryland-based RLJ Lodging Trust, in a $313 million deal.

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Sunday, February 9

Sony Selling Vaio as Part of Major Restructuring

Sony Corp. said it’s selling its Vaio personal computer business to Japan Industrial Partners, a Japanese investment fund, for an undisclosed sum, as part of a massive restructuring of the company that will cost about 5,000 jobs worldwide.

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Helix-Hon Joint Venture Co. Gets Defense Contract Potentially Worth $30 Million

The U.S. Navy’s construction office awarded the Helix-Hon Joint Venture Co. an indefinite quantity contract that could be worth as much as $30 million.

According to This Survey, You Should Be Starting Your Work Week With a Smile

Whistle while you work? If you’re working in San Diego, that may be the case.

Origo Ventures Receives $1M Grant From Chilean Government Entity

Origo Ventures, a San Diego based venture fund that invests in seed- and early-stage companies in Latin America, said it received a $1 million grant from the Chilean government’s investment entity.

The Business Calendar for the Week of Feb. 10, 2014

Some of the business events happening around the county for the week of February 10, 2014.

Mad Catz Interactive Reports Net Loss of $566,000 in Q3

Mad Catz Interactive Inc., a San Diego maker of computer game peripherals, reported a net loss of $566,000 on net sales of $32.9 million in its third quarter, which ended Dec. 31.

Company Will Provide Transportation to Polls for Seniors and Those With Medical Needs

Emergency medical service provider Falck San Diego will give rides to senior citizens and others who need special medical assistance to get to their polling locations for San Diego’s special mayoral election.

Saturday, February 8

Innovation District Would Transform Region

Some 60 years ago a consortium of San Diego civic and business leaders, educators, politicians and voters came together to support the establishment of the University of California, San Diego on what was city land, the former Marine Corps Camp Matthews and adjacent La Jolla property. Despite naysayers — and developers who would have preferred the quick rewards of oceanfront home sales — UC San Diego opened in 1960 with 20 faculty members.

Scripps Cardiologist Is Honored for His Efforts to Save Young Lives

Scripps Health cardiologist Dr. John Rogers was honored at the annual Parent Heart Watch Conference in Raleigh, N. C., for his commitment to sudden cardiac arrest prevention in nearly 10,000 teens. Rogers is also president of the San Diego Chapter of the Sudden Cardiac Arrest Association, where he volunteers his time as medical director of the Eric Paredes Save A Life Foundation. The local foundation was established to honor the Steele Canyon High School teen who lost his life at 15 to SCA in 2009.

Options for Minimizing California Business Taxes Are Limited

Tax: High Labor Costs on Top of Taxes Prompts Many To Consider Leaving State

It’s difficult for California companies to reduce their taxes by expanding outside the state, despite its reputation for levying heavy tax burdens on businesses. Moving part of your business out of California won’t help you cut your tax bill, said Chris Cooke, principal with the Cooke Law Firm, primarily because the state’s franchise tax board is “very diligent in taxing any entity that has a nexus in California.”

The Code Talkers

FINANCE: Experts Say Tax Breaks Are Limited Except for Certain R&D

Tax breaks will be difficult, though not impossible, for San Diego businesses to find this year.

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Spawar Systems C.O. Relishes New Role

DEFENSE: Captain Eager to Reach out to Defense Industry

As a science enthusiast, U.S. Navy Capt. Kurt Rothenhaus must feel like a kid turned loose in the Wonka candy factory. Actually, his situation is even better. He’s in charge of the candy.

Executive profile: Kevin Brown

Kevin Brown is managing partner of RBTK LLC. Founded in 1981, RBTK is a local accounting firm specializing in tax services, financial reporting, and business and financial consulting. Brown is responsible for the overall management and strategic planning services of the firm.

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Callaway’s 2014 Lineup May Drive Up Sales

SPORT: Big Bertha Brand Key Part of Turnaround Efforts

Callaway Golf Co. is preparing to introduce new versions of its storied Big Bertha brand of golf club Feb. 14 after a seven-year hiatus, and the company believes it and the club can reclaim former glory together.

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Tri-City Medical Takes On Image With Action

HEALTH: Interim CEO Talks Candidly of Plans, Challenges

The woman had extreme stomach pains and was on the verge of passing out. Tri-City Medical Center was a stone’s throw away, but she adamantly refused to go there because she’d heard its care was substandard — opting instead for the far-away Scripps Encinitas hospital. When the woman fainted, however, her husband took her to Tri-City, where the physicians there saved her life.

S.D. Seeks to Improve Export Performance

TRADE: Plan Is to Leverage Area Advantages, Mentor Cos.

San Diego ranks as the eighth-largest city in the nation and the 17th-largest in terms of gross regional production, but when it comes to exports, it comes in a dismal 55th.

Winning Play

TOURISM: Sportsplexes Bring Hotel, Dining Dollars

They don’t generate the glitz and global hype of Comic-Con International. But a growing slate of youth baseball, softball and soccer tournaments is having a noticeable economic impact in places like Poway and Santee, the two local cities with sports facilities operated by locally based Sportsplex USA.

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‘Complicated’ Property Situations Provide the Opportunities for Interwest

PROPERTY: Private Equity Firm Gets in Good Markets for Less

Interwest Capital Corp. looked far and wide — and among young and old — for commercial property investment opportunities during what turned out to be a busy 2013 for the La Jolla-based company.

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Strengthening Cellphone Signals Brings Profitability to Nextivity

Communications: Company’s Cel-Fi Booster Being Used by 139 Operators

It’s maddening. The cellphone works fine in one area of a house but unfailingly drops calls in another.

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TakeLessons Expands Reach With Acquisition of Betterfly

Whether it’s understanding the quadratic formula or bending one’s fingers to make an F chord on a guitar, TakeLessons says it can help.

Del Mar’s Varied Charms Come in Small and $18.75M Packages

There is something different about Del Mar. Arriving from the south or the north on Highway 101, this charming community looks like it could be a village in Canterbury, England, instead of a beach town in Southern California.

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Seacoast Sees Results With Its Small Business Lending Strategy

Seacoast Commerce Bank may be small, but it’s getting national recognition in its chosen niche of making business loans backed by the Small Business Administration.

S.D. County’s Apartment Market Climbs to No. 5 in the Nation

San Diego County landed at No. 5 in Marcus & Millichap Inc.’s latest annual performance rankings of the nation’s apartment markets, moving up one spot from its year-ago placement.

Biotech Billionaire Wields New Weapons for Fighting Cancer

Biotech billionaire Patrick Soon-Shiong has a modest proposal: cure cancer, eradicate influenza and maybe save the world. I’m reminded of Tony Stark, if the Marvel superhero were a 61-year-old, bespectacled man with a graceful South African lilt.

Peer-to-Peer Lending Gaining Traction Despite Interest Rates

FINANCE: Borrowers Don’t Mind Paying More, Investors Accept Risk

Small businesses shut out of getting loans from traditional sources like banks are finding alternatives at a slew of crowdfunding and other peer-to-peer websites.

Incentives for Websense on Austin Agenda

Websense Inc.’s plan to move its headquarters to Austin, Texas, will take a big step later this month when the Austin City Council talks about how it might attract the San Diego security software company.

Sharp Sees Early Success in Individual Market

HEALTH: Covered California’s Big Names Get Most Enrollees

More than 45,000 San Diegans signed up for health insurance via Covered California through the end of December. The vast majority of them qualified for income-based subsidies and chose plans with good brand recognition and a history of providing insurance to individuals.

Land Use Plan May Curb Density Near Airport

PROPERTY: Revised Plan Would Reduce Nearby Housing Units By 21 Percent

Recent neighborhood development and air traffic growth may bring changes in what can be built near San Diego International Airport.

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Panel to Discuss Crowdfunding Phenomenon

Come this spring, the “above-average Joe” investor will be able to invest modest sums through equity crowdfunding and online Web portals, just like VC firms, thanks to the 2012 Jumpstart Our Business Startups, or JOBS, Act.

Friday, February 7

Sony Is Selling Vaio as Part of Its Major Restructuring Efforts

Sony Corp. said it’s selling its Vaio personal computer business to Japan Industrial Partners, a Japanese investment fund, for an undisclosed sum, as part of a massive restructuring of the company that will cost about 5,000 jobs worldwide.

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Business Calendar for Week of February 10, 2014

Some of the business events happening around the county for the week of February 10, 2014.

Origo Ventures Receives $1 Million Grant From Chile

Origo Ventures, a San Diego based venture fund that invests in seed- and early-stage companies in Latin America, said it received a $1 million grant from the Chilean government’s investment entity.

Helix-Hon Joint Venture Co. Awarded Contract Potentially Worth $30M

The U.S. Navy’s construction office awarded the Helix-Hon Joint Venture Co. an indefinite quantity contract that could be worth as much as $30 million.

Thursday, February 6

Incentives for Websense on Austin Council Agenda

Websense Inc.’s plan to move its headquarters to Austin, Texas, will take a big step later this month when the Austin City Council talks about how it might attract the San Diego security software company.

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Biocept Begins Trading on Nasdaq

Biocept Inc. began trading on the Nasdaq on Feb. 5, raising $19 million.

$40 Million SpringHill Suites Hotel Debuting in Oceanside

GF Properties Group LLC has completed its new $40 million SpringHill Suites by Marriott hotel in Oceanside, set for a Feb. 11 opening at 110 N. Myers St.

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Revenue, Net Income Rise at BioMed Realty Trust

San Diego-based BioMed Realty Trust Inc. saw revenue rise 14 percent from a year ago in its fourth quarter ending Dec. 31, topping $157.9 million.

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Tickets Available for San Diego Business Journal’s Top Real Estate Deals Awards

The San Diego Business Journal is hosting another in their series of popular recognition events at one of San Diego’s iconic gathering spots—Paradise Point Resort & Spa. Tickets are still available for the Top Real Estate Deals Awards, featuring the CRASD Deal Maker Awards, slated for Thursday, Feb. 13.

Bridgepoint Education Cutting Jobs, 91 Positions in San Diego

Bridgepoint Education, the San Diego public company that operates two colleges and provides most of its service through online channels, said it eliminated 117 jobs across several units including 91 positions in San Diego.

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Hiring Our Heroes Job Fair Set for Feb. 13

A job fair for veterans and military spouses will be held Feb. 13 from 10 a.m. to 1 p.m. at University of Phoenix campus, 9665 Granite Ridge Road in San Diego.

Wednesday, February 5

Auspex's Planned IPO Aims for $82.8 Million

La Jolla-based Auspex Pharmaceuticals Inc. announced the pricing of its $82.8 million initial public offering — just a month after it raised $35 million in venture funding.

Chargers Won’t Be Bolting From San Diego This Year

The San Diego Chargers will stay at least one more year at Qualcomm Stadium, the team announced recently.

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Local Craft Beer Brewers’ Sales Topped $781 Million in 2013

San Diego County’s craft beer brewers have seen sales grow from $680.9 million in 2011 to $781.5 in 2013, a rise of nearly 15 percent, according to a new report by the locally based National University System Institute for Policy Research.

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Vanguard Space Technologies Receives Contracts for Space Telescope Work

Vanguard Space Technologies Inc. has been awarded two contracts to provide hardware for NASA’s James Webb Space Telescope, the company said.

TakeLessons Acquires Similar Company

TakeLessons, a San Diego Web-based business, announced that it had acquired Betterfly, a similar business from Chicago.

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Air Force Contract Could Be Worth $117.3M for General Atomics ASI

The U.S. Air Force wants to give its Reaper aircraft more range.

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Silvergate Bank Reports Yearly Net Income of $5.4 Million

Silvergate Bank, based in University City, reported 2013 fourth quarter net profit of $1.27 million, down from a net profit of $2.54 million for the like quarter of 2012.

New President Named at aTyr Pharma

San Diego-based aTyr Pharma named Frederic Chereau president and chief operating officer.

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San Diego Office Buildings Part of $51.2 Million Portfolio Deal

Two San Diego office buildings are part of a 13-property portfolio purchased by Resource Real Estate Opportunity REIT Inc. of Philadelphia for $51.2 million, according to CoStar Group and public data.

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San Diego Private Bank Reports Yearly Net Income of $3.1 Million

San Diego Private Bank, which merged with Coronado First Bank last year, reported fourth quarter net income of $2 million, which included a one-time gain from the release of deferred tax benefits. For the full year, the bank reported net income of $3.1 million.

Tuesday, February 4

Economic Analysis Sees ‘More of the Same’ for Region

San Diego’s economic growth this year will trail both that of California and the nation, according to an analysis by the National University System Institute for Policy Research.

CareFusion Q2 Profits Drop 10%; Revenue Beats Forecasts

Second-quarter profit for San Diego medical device maker CareFusion Corp. dropped 10 percent despite higher-than-expected revenue growth, due in part to the company’s heavy expenses in the quarter.

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Leading BioSciences Inc. Appoints New CEO

Leading BioSciences Inc., a San Diego biotech developing treatments for multiple organ failure, has appointed Robin M. Jackman as its new chief executive.

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CohnReznick Names New Office Managing Partner for San Diego

CohnReznick LLP has named Mark Hooley office managing partner of the San Diego office.

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Global Payout Signs Agreement With XPayCard

Global Payout Inc., a San Diego purveyor of electronic payment solutions such as prepaid debit cards, said it signed an agreement with XPayCard International, its third contract this year.

Peregrine Semiconductor Reports Net Revenue of $202.3M for the Year

Peregrine Semiconductor Corp. reported a net loss of $6.8 million on net revenue of $43.3 million for its fourth quarter, which ended Dec. 28.

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Rita’s Italian Ice Expanding in San Diego, Neighboring Counties

Pennsylvania-based Rita’s Franchise Co. has reached an agreement with a locally-based franchisee to open 70 locations of Rita’s Italian Ice in San Diego and two neighboring counties.

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Santa Ysabel Casino Closes

San Diego County lost one of its American Indian casinos with the recent closure of the Santa Ysabel Casino, on state Route 79 near the backcountry getaway of Julian.

Monday, February 3

Thermo Fisher Completes Life Technologies Buy; Establishes Life Sciences Solutions

Thermo Fisher Scientific Inc. has completed the $13.6 billion purchase of Carlsbad-based Life Technologies Corp., creating a new local segment of the Massachusetts biotech giant called Life Sciences Solutions.

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Marsh & McLennan Agency Acquires Barney & Barney

Barney & Barney, the San Diego insurance brokerage that was founded here 104 years ago, said it was acquired by Marsh & McLennan Agency LLC, a unit of Marsh LLC, for an undisclosed sum.

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Halozyme Announces $100M Common Stock Offering

San Diego cancer drug company Halozyme Therapeutics Inc. has announced a $100 million public offering of its stock.

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Hot Dog on a Stick Operator Files for Bankruptcy Protection

Carlsbad-based HDOS Enterprises, which owns and operates 93 locations of Hot Dog on a Stick, has filed for federal Chapter 11 bankruptcy protection as it reorganizes and restructures the business.

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Kratos Stock Climbs After News of Big Military Contract

Shares in San Diego-based Kratos Defense and Security Solutions Inc. rose dramatically on Feb. 3, on the same day that the company announced it won an indefinite-quantity contract with a ceiling of $7.92 billion.

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General Dynamics NASSCO Christens USNS John Glenn

General Dynamics NASSCO recently christened the U.S. Navy’s newest ship, USNS John Glenn.

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Escondido Retail Center Sells for $10.5 Million

G.F.C. Glendale Associates LLC of Commerce has purchased the Escondido Town & Country retail center for approximately $10.5 million, according to brokerage company Cushman & Wakefield Inc.

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San Marcos Apartments Sold for $9.47 Million

PK Management LLC of Villa Park has purchased the 70-unit San Marcos Manor Apartments in San Marcos for $9.47 million, according to CoStar Group and public data.

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BofA Merrill Lynch’s Community Development Banking Supports Local 200 Unit Development

Bank of America Merrill Lynch’s Community Development Banking business said it provided more than $3.3 billion in loans, tax credit equity investments and other real estate development solutions last year including $44 million in financing and $33 million in equity investment for the construction of an affordable housing project in San Diego.

Einstein Bros. Bagels Opens Second Location at San Diego Airport

Einstein Bros. Bagels has opened a second location at San Diego International Airport, in a pre-security area of Terminal 2.

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Sunday, February 2

Plan for Boosting County's Exports Is Released

A local partnership released a plan aimed at boosting the region’s economy by maximizing its exporting of goods and services.

Solana Beach Co. Completes $92M Tennis Stadium Project

Solana Beach-based contractor Watkins Landmark Construction recently completed a $92 million expansion of the Indian Wells Tennis Garden.

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Organovo Makes Its 1st 3-D Liver Tissue Delivery

Organovo Holdings Inc., a San Diego-based company in 3-D bioprinting, performed its first 3-D liver tissue delivery, according to the company.

Local Economic Index Is Down 0.2% in December

An index tracking the San Diego economy fell by 0.2 percent in December, the second time it’s declined in the last three months

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Grocer Reopens National City Store as Specialty Market

Big Ben Market, a 65-year-old locally based grocer in National City, has reopened as a specialty foods market with an open-air restaurant and exhibition kitchen, following a fire that destroyed the building in July 2013.

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The Business Calendar for Week of February 3, 2014

Some of the business events happening around the county for the week of February 3, 2014.

Training Deal to Be Worth More Than $35M to Kratos

Kratos Defense and Security Solutions Inc. received a five-year deal worth more than $35 million to provide training equipment for crews working aboard the MH-60R and MH-60S Seahawk helicopters, the company said.

Saturday, February 1

Little Italy Continues To Craft Its Image

PROPERTY: Plaza to Add To Stylish Mixed-Use Efforts

Developers and business leaders in Little Italy are looking to break ground by midyear on Date Street Piazza, a vehicle-free public plaza that would be the latest of several projects bringing new residents and businesses to the historic downtown neighborhood.

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PointPredictive Helps Lenders Learn the Risks the Easy Way

SOFTWARE: Analytics Used to Determine Dangers In Lending and Elsewhere

The founders of Carlsbad-based startup PointPredictive Inc. are hoping the world’s lenders will beat a path to their better way of assessing borrowers’ credit worthiness. The newly launched company aims to build software systems that are a vast improvement over those used to help determine whether borrowers are a good risk or not.

Executive Profile: Steve Gamer

Steve Gamer is vice chancellor-advancement at the University of California, San Diego. He is responsible for leading campus fundraising efforts and alumni relations, and will be president of the UC San Diego Foundation.

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Change on Tap in Local Restaurant, Bar Scene

HOSPITALITY: Gaslamp Pioneer Croce’s Move Is Part of the Changeover

Many of Ingrid Croce’s loyal customers — and all of her 75 employees — came with her when she made a momentous move to Bankers Hill to open her new restaurant and music venue, Croce’s Park West.

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No Bites for FitDeck’s Pitch To ‘Shark Tank’

SDBJ Insider

For the past couple of weeks, the Insider has been following the exploits of former Navy SEAL Phil Black, the entrepreneur behind FitDeck, a brand of exercise cards sold at his website.

City OKs Buffer Zone for Solar Turbines Area

PROPERTY: Action Prohibits Residential, ‘Sensitive’ Land Uses

The San Diego City Council has approved a downtown buffer zone prohibiting residential development in a nine-block area near the industrial facilities of Solar Turbines Inc.

Blood Bank Borrowing Profit Principles

Health care: New CEO Seeking to Diversify Revenue, Create Partnerships

Blood banks are bleeding: Donor rates are dropping, and hospitals don’t use or need as much blood as they once did. But San Diego Blood Bank’s new CEO, David Wellis, is applying his business acumen as a longtime biotech executive to forge partnerships with companies and researchers to find alternate uses — and alternate revenue streams — for donated blood.

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Confusion May Be Drones’ Latest Weapon

Defense: General Atomics Part of Marine Corps Exercises To Evaluate Jamming Capability

General Atomics Aeronautical Systems Inc. is eyeing at least one new market for its Reaper aircraft, saying the military could use the unmanned flying machine as a battlefield signal jammer.

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Accelrys Acquired by French Co. for $750M

Software: Local Co. Bought 5 Firms in Recent Years

Accelrys Inc., a San Diego life sciences software company that’s built itself on a series of mergers and acquisitions, has itself been acquired by France’s Dassault Systèmes SA for $750 million in an all-cash deal.

Looking Up

Biotech: Illumina Makes History in Genome Sequencing

What a difference time has made for Illumina Inc. Things seemed dark to some a little more than two years ago when the San Diego-based genome sequencing equipment maker’s stock had fallen from the mid-$70s to the mid-$20s over about four months, and its doorstep was further darkened about three months later by the shadow of a hostile takeover.

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