Stories for July 2015

Friday, July 31

BioMed Realty Trust Reports Strong Leasing in Second Quarter

San Diego-based BioMed Realty Trust Inc. posted total revenue of approximately $158 million for its second quarter ending June 30, down from $171.2 million for the same period of 2014.

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Business Calendar for Week of August 3, 2015

Some of the business events planned in the county for the week of Aug. 3, 2015, and beyond.

Vista Industrial Building Sold for $3.15M

Investor Paul Wagner of Carlsbad has acquired a Vista industrial building for $3.15 million, according to brokerage company Lee & Associates and public data.

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Smart Cities are Key to Success in Global Economy

Let’s be frank. The strength of America’s economy as well as our political prowess in the world are inextricably linked.

Richman Group Plans $100M Mixed-Use Project in East Village

San Diego’s downtown project oversight agency has approved plans by Richman Group of California Development Co. for a $100 million mixed-use, high-rise residential project in East Village.

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Geisel’s $3M Gift Helps UCSD Library With Its Revitalization

San Diego philanthropist, literacy advocate, and longtime supporter of the University of California, San Diego, Audrey Geisel, has donated $3 million toward the renovation of the university’s iconic flagship building, the Geisel Library.

The Rolling Hills of Ramona Offer Relaxing Rural Charms

Ramona, known as the “Valley of the Sun,” is just some 40 miles from San Diego, but it is as far from a typical San Diego suburb as you can get.

ResMed to Expand in China, Announces Q4 Results

Medical device firm ResMed is set to expand in China and says it remains on track to meet its 2020 goals after a lift in its fourth-quarter revenues, according to recent financial statements.

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Suneva Medical Raises $35.4 Million in Capital

San Diego-based Suneva Medical Inc., a developer of facial skin products, announced the closing of a $15 million equity investment by Almirall Inc., an affiliate of Almirall S.A., a global pharmaceutical company primarily focused within the therapeutic area of medical dermatology.

Thursday, July 30

Lyford Readies for Her New Leadership Role at West Health

RESEARCH: As CEO, She’ll Look to Unify Efforts To Support Senior Population

If you’re looking to find a charismatic executive with a New York City tongue, Vermont’s dairy country probably wouldn’t be your starting point.

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Injecting Capital

MEDICINE: Health Care Systems Are Creating VC Arms Often to Invest in Promising Innovations for Providing Care

Hospital systems dealing with high-tech glitches and chaotic workflow brought on by health care reform are launching venture capital funds to fuel the solutions they need.

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Market Does Some Local Sourcing for Lineup

Most of the food purveyors announced so far for the upcoming new Liberty Public Market in Point Loma are unknown to many people in San Diego County and elsewhere, and the project’s chief developer says that’s by design.

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Razer Acquires Ouya’s Software Assets, Hires Technical Team

Razer Inc., the venture-backed Carlsbad company that makes videogame hardware and software, officially announced July 27 that it acquired the software assets of Santa Monica-based Ouya Inc., which produces an Android game platform for the television. Terms of the deal were not disclosed.

Xolos Overcome Barriers to Draw Crowds to Their Games

SPORT: Mexican Soccer Club Pursues U.S. Fans, Players

Until recently, Tijuana had a spotty history with professional soccer and was considered more of a baseball city. A string of soccer teams tried to gain a foothold in the 1980s and ’90s, but none survived.

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Macphun’s Marketing Efforts Keep Its Software in the Picture

TECH: Fluid Sales Tactics, Strong Basics Sell Photo Editing Tools

Kevin La Rue knows the power of the soft sell.

Excel Shareholders Approve $2 Billion Acquisition By Blackstone

Shareholders of San Diego-based Excel Trust Inc. have formally approved the previously announced acquisition of the company by Blackstone Group, in a deal valued at approximately $2 billion.

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Award-Winning Transit Fare System a ‘Game Changer’

TRANSPORT: Cubic’s London System Operates On Contactless Bank Cards

Take the train from Heathrow Airport to Paddington Station. Just touch your bank card to an electronic reader and your fare is paid.

Maxwell Technologies Restructuring, Reducing Staff

Maxwell Technologies Inc., a maker of energy storage devices called ultracapacitors, said on July 30 that it was in the process of restructuring, reducing head count and consolidating U.S. manufacturing operations, all in order to reach profitability.

Second-Quarter Revenue, Income Rise at Realty Income

San Diego-based Realty Income Corp. saw revenue rise 11.1 percent from a year ago in its second quarter ending June 30, reaching $253.9 million.

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Marla Black to Lead Junior Achievement of San Diego County

Veteran banker Marla Black has been named president and chief executive officer of Junior Achievement of San Diego County.

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BofI Holding Inc. Reports Q4 Net Income of $24.4 Million

BofI Holding Inc., the parent company of San Diego-based BofI Federal Bank, reported fourth-quarter net income of $24.4 million on Thursday, a 52 percent increase over the year before and the 14th consecutive quarter of record earnings.

Senomyx Inc. Reports Q2 Net Loss of $2.7 Million

Senomyx Inc., a biotechnology company that makes flavor enhancers, reported a net loss of $2.7 million for the second quarter of 2015, up slightly from the $2.6 million net loss from the same period last year.

Irvine Co. Completes $150 Million Renovation of Mission Valley Apartments

Commercial property owner and developer The Irvine Co. has completed a $150 million renovation of its 1,410-unit apartment community in Mission Valley, now known as The Village Mission Valley.

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CrediautoUSA Announces Completion of $75 Million Credit Facility

CrediautoUSA Financial Co. LLC announced the completion of a capital facility which provides up to $75 million to facilitate the acquisition by Crediauto of nonprime automobile financing contracts.

Disney Promotions Take Detour Around S.D.’s Comic-Con

MOVIES: D23 Expo Seen as Better Bet for Creating Maximum Buzz

Disney didn’t pitch a single one of its upcoming Marvel or Pixar movies at San Diego’s Comic-Con International, opting instead to reveal them at its own fan fest, the D23 Expo, in Anaheim later this month.

Guild Has Best First Half In Its History

Guild Mortgage Co.’s loan volume reached $6.7 billion in the first six months of the year, more than double its volume during the same period the year before and its best first half in the company’s history, the company said.

SDMAC Executive Director Stepping Down

MILITARY: Blumberg Has Led Military/Business Group Since 2005

Larry Blumberg, executive director of the San Diego Military Advisory Council, will retire from that position at the end of the year, the organization announced on July 24.

President of Salk Institute to Retire at End of Year

BIOTECH: Brody Made Scientific and Financial Improvements

William Brody will retire at the end of the year as president of the Salk Institute for Biological Studies in La Jolla, opening up a third major leadership position in San Diego’s science community.

URS to Continue Managing Hazardous Waste at Navy's Repair Depot

URS Federal Services Inc. of Germantown, Md. will manage hazardous materials for the Defense Logistics Agency for one more year at the U.S. Navy aircraft repair depot at Naval Air Station North Island, the Pentagon announced on July 24.

American Assets Trust Posts Increase in Revenue, Income

American Assets Trust Inc. reported revenue up 7.3 percent from a year ago for its second quarter ending June 30, reaching $66.7 million.

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Taiwanese Manufacturer to Build $25M Facility in Tijuana

Taiwanese sporting goods manufacturer Quan Shen will build a $25 million manufacturing facility in Tijuana next year to make golf club heads, creating 800 jobs.

Qualcomm Choices Speak Volumes About Priorities

Qualcomm Choices Speak Volumes About Priorities

An observation from Qualcomm Inc.’s second-quarter earnings report (though almost no one focused on their actual reported net earnings, which were $1.2 billion): Qualcomm is going to spend about $10 billion buying back stock in the next year.

Brain Injury Diagnosis Crucial to Treatments

MEDICINE: Co. Exploring Biomarkers to Detect Damage

Banyan Biomarkers gained yardage recently in its bid to help the National Football League and other sports organizations diagnose traumatic brain injuries.

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Qualcomm to Let Some Leases Go

PROPERTY: Downsizing Hits Office Market

Local commercial office brokers are anticipating a significant supply-and-demand impact — likely in favor of technology companies and other tenants — from Qualcomm Inc.’s recently announced corporate downsizing.

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Wage Boost a Teachable Moment?

ECONOMY: UC Aims to Spur Other Increases

As the California Assembly mulls whether to increase the state minimum wage to $13 and City of San Diego Democrats gird for a June 2016 ballot battle over an $11.50 wage floor, the University of California said last month it would soon pay its workers at least $15 an hour, the latest dollar target in workers’ fight for a higher minimum wage.

The Other Downtown

PROPERTY: UTC Area Sees Construction Boom As It Fulfills Its Big Plans

If there’s any place giving downtown San Diego a run for its money when it comes to significant investment in new construction projects, it’s most likely the city’s “second downtown” — better known as University Towne Center, or UTC.

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Wednesday, July 29

Callaway Golf Reports Q2 Net Income of $12.8 Million

Foreign exchange rates continue to dampen Callaway Golf Co.’s game, but the company is seeing more quarterly profit than last year.

EvoNexus Announces Application Period for Would-Be Incubators

Startup companies that hope to enter the EvoNexus incubators in San Diego and Irvine should warm up their computers and get ready to pitch.

California Economic Activity Index Shows Second Monthly Increase

Comerica Bank’s California Economic Activity Index grew in May, increasing 0.8 of a percentage point to a level of 120.5.

Watkins Landmark Tapped to Build Hotel at El Paseo

Carlsbad-based Watkins Landmark Construction has been awarded the contract to build a new Marriott Autograph Collection luxury hotel in Palm Desert’s upscale El Paseo shopping district.

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Ignyta Gets FDA Clearance for New Drug Application

San Diego-based Ignyta Inc., a precision oncology company, reported that the U.S. Food and Drug Administration has cleared its Investigational New Drug (IND) application milestone for the company’s tumor-fighting compound known as RXDX-107.

Chargers Open Training Camp Thursday

The San Diego Chargers will open their training camp to the public on Thursday at their Kearny Mesa facility for what could be the team’s final season in San Diego.

Lemonade Restaurant Plans Two San Diego Openings

Los Angeles-based restaurant operator Lemonade, which serves seasonal California comfort food in a colorful cafeteria setting, plans two August openings in San Diego.

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Tuesday, July 28

Razer Acquires Software Assets of Ouya Inc.

Carlsbad-based Razer Inc. officially announced on July 27 that it acquired the software assets of Santa Monica-based Ouya Inc., which produces an Android game platform for the television. Terms of the deal were not disclosed.

San Diego Officials Update NFL on Stadium Planning

San Diego officials entered what they called “the fourth quarter” in the city’s bid to retain the San Diego Chargers, briefing NFL officials on Tuesday on local work being done on a proposed Mission Valley stadium.

NuVasive Reports Q2 Net Income of $10.3 Million

NuVasive Inc. on Tuesday reported second-quarter net income of $10.3 million, after reporting a loss in the same period a year earlier.

City Heights Apartment Property Sold for $2.44 Million

SRM Investments LLC of San Diego has purchased a 14-unit apartment property in City Heights for $2.44 million, according to brokerage company ACRE Investment Real Estate Services.

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Huntington Capital Has New Name: HCAP Partners

San Diego-based mezzanine debt and private equity firm Huntington Capital has a new name, HCAP Partners, the company said Tuesday.

General Atomics Unit Receives Contract from Italian Air Force

General Atomics Aeronautical Systems Inc. received a one-year contract covering logistics support for the unmanned aircraft flown by the Italian air force. The deal could be worth as much as $10.5 million.

Developer Sunroad Names Dow as President of Multifamily Division

San Diego-based developer Sunroad Enterprises has named Michael Dow as president of its multifamily division, as the company looks to expand its portfolio in that category.

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Home Prices Gained 4.8 Percent From May 2014 to May 2015

San Diego’s home prices rose 4.8 percent from May 2014 to May 2015, according to a national index measuring housing prices, catching up to the average growth rate in the country’s 20 largest cities.

Legoland California Resort Adding Ninja-Themed Attraction

Legoland California Resort plans to add new theme area and ride based on the popular Lego Ninjago toys and cartoon series, with an expected debut in spring 2016.

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Monday, July 27

Jeff Russakow Named CEO at Gimbal Inc.

Gimbal Inc. has a new CEO in Bay Area tech executive Jeff Russakow.

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Lemon Grove Townhome Property Sells for $4 Million

San Diego-based A&S Group, led by managing members Brandon Blum and Daniel Shkolnik of Inflexus Management, recently acquired the 24-unit Hilltop Townhomes apartment property in Lemon Grove for approximately $4 million, according to brokerage firm South Coast Commercial Inc.

Callaway Signs Schniederjans to Sponsorship Deal

Callaway Golf Co. said on July 27 that it signed 22-year-old Ollie Schniederjans to a sponsorship agreement. Financial terms were not disclosed.

San Diego Retail Property Sells for $2.8 Million

Lai Family LP has purchased a three-building retail property in San Diego’s Grantville neighborhood for $2.8 million, according to commercial brokerage company Pacific Coast Commercial.

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Guild Mortgage's Loan Volume Reaches $6.7 Billion

Guild Mortgage Co.’s loan volume reached $6.7 billion in the first six months of the year, more than double its volume during the same period the year before and its best first half in the company’s history, Guild said Monday.

Point Loma Apartments Acquired for $3 Million

Mills Family Trust of Los Angeles has purchased an 11-unit apartment property in Point Loma for $3 million, in an all-cash deal, according to brokerage company Marcus & Millichap Inc.

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UCSD, La Jolla Institute for Allergy and Immunology Sign Agreement

The La Jolla Institute for Allergy and Immunology announced Monday an official affiliation agreement with the University of California, San Diego Health System.

Salk Institute's President, William Brody, Retiring

William Brody will retire at the end of the year as president of the Salk Institute for Biological Studies in La Jolla, opening up a third major leadership position in San Diego’s science community.

Sunday, July 26

Haggen Supermarket Chain Announces Workforce Cuts in SoCal

Supermarket operator Haggen Food & Pharmacy, which recently entered the San Diego County region with 25 locations, has announced an unspecified number of layoffs underway at its Southern California stores.

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San Diego Private Bank Reports Q2 Net Income of $1.1M

San Diego Private Bank said it had its best second quarter yet, with net income up 85 percent from the year before to $1.1 million.

Cubic Awarded $18M Foreign Military Contract

Cubic Corp. has received an $18 million contract to conduct four years of work for the Australian military.

Industrial Park Sells for $6.75 Million

Castlerock Investments LLC has purchased a multitenant industrial park in Chula Vista for $6.75 million, according to brokerage company Voit Real Estate Services.

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The Business Calendar for the Week of July 27, 2015

Some of the business events planned in the county for the week of July 26, 2015, and beyond.

VetStem Biopharma and Animal Hospital Announce Partnership

Poway-based VetStem Biopharma, a veterinary regenerative medicine company, and VCA Emergency Animal Hospital & Referral Center recently announced an educational and clinical partnership in support of local area veterinarians.

Opoli, BYD Partnership Brings a Zero-Emission Fleet of Vehicles to San Diego

Opoli Technologies, a transportation app company in the rideshare industry in Southern California, announced a new partnership with BYD Motors Inc. to reduce traffic congestion and emissions in San Diego.

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Larry Blumberg to Retire as Executive Director of SDMAC

Larry Blumberg, executive director of the San Diego Military Advisory Council, will retire from that position at the end of the year, the organization announced July 24.

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Friday, July 24

VetStem and Animal Hospital Announce Partnership

Poway-based VetStem Biopharma, a veterinary regenerative medicine company, and VCA Emergency Animal Hospital & Referral Center recently announced an educational and clinical partnership in support of local area vets.

Blumberg to Retire as Executive Director of SDMAC

Larry Blumberg, executive director of the San Diego Military Advisory Council, will retire from that position at the end of the year, the organization announced July 24.

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Chula Vista Industrial Park Sells for $6.75 Million

Castlerock Investments LLC has purchased a multi-tenant industrial park in Chula Vista for $6.75 million, according to brokerage company Voit Real Estate Services.

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Haggen Supermarket Chain Cuts Workforce

Supermarket operator Haggen Food & Pharmacy, which recently entered the San Diego County region with 25 locations, has announced an unspecified number of layoffs underway at its Southern California stores.

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Opoli Partnership Brings a Zero-Emission Fleet of Vehicles to San Diego

Opoli Technologies, a transportation app company in the rideshare industry in Southern California, announced a new partnership with BYD Motors Inc. to reduce traffic congestion and emissions in San Diego.

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Business Calendar for Week of July 27, 2015

Some of the business events planned in the county for the week of July 27, 2015, and beyond.

Thursday, July 23

Crazy Hair, Good Hearts on Display to Support Second Chance

Intelicare Direct, a leading customer service solutions company with offices in Las Vegas and San Diego, held a crazy hair day benefitting San Diego-based nonprofit Second Chance. For every ICD employee who came to the office with crazy hair, one haircut was donated to Second Chance for someone trying to get back into the workforce.

Mediation Lets Parties Avoid Uncertain Trials of Going to Court

LEGAL: Crowded Courts, Jury Risks and Big Costs Are Bypassed

With budget cuts straining the state judicial system, judges frequently steer disputes between businesses toward mediation in attempts to find resolutions outside the courtroom.

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Fertile Grounds For A Lawsuit

LEGAL: In California, It’s Let the Business Beware as Labor Law Landscape Gets More Tricky to Navigate

California’s new paid sick leave law is being welcomed by labor interests, but attorneys say it is likely to add fuel to the trend of employees suing businesses over wage and hour issues.

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Golf Course Land Could Be Valuable Resource for Change

PROPERTY: New Purposes Proposed for Unviable Courses

Water shortages, steady drops in playing time and rising demand for housing are forcing a rethinking of how to use hundreds of acres of land now devoted to golf courses in San Diego County.

New Attorney Additions and a New Firm Are Part of S.D. Scene

Christina Semmer has joined Wilson Turner Kosmo LLP as an associate. Semmer joins the firm’s employment and business practice groups. Her business litigation practice includes representing companies in breach of contract, business tort, and other complex litigation matters.

Financial Advisors Put Out Welcome Mat for Homebuyers

FINANCE: Canter Cos. Sees Real Estate as Entry For Wealth Management

Buying or selling a house can be the biggest financial decision of a lifetime. But real estate agents at Canter Cos. — a combination developer, broker and venture capital firm — said many homeowners don’t run real estate deals by their financial advisors to protect their tax liabilities.

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Quidel Corp. Reports Q2 Revenue is Up 11 Percent

Quidel Corp. reported that revenue was up 11 percent for the second quarter of 2015, according to a recent earnings statement.

Cures Act is Vital for San Diego’s NIH Funding

In an overwhelmingly bipartisan vote, the U.S. House of Representatives came together earlier this month to fund cures for diseases such as cancer. They overwhelmingly approved the 21st Century Cures Act.

Software Simplifies 3-D Printing

TECH: Co.’s Partnership With NIH Is Big Boost

Two-year-old Liam was hours away from his fifth heart surgery when cardiologist Dr. Peter Manning and his team decided to study a precise 3-D replica of Liam’s heart.

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Former Navy Personnel Find a Business Niche Beneath the Sea

TECH: Survey and Consulting Work Done For Companies and Navy

Kurt Nelson admits that his sales pitch might not seem all that attractive to the typical bank lending officer.

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Zephyr Is Well Positioned for a Condominium Comeback

PROPERTY: Its Projects Include The Block, With Multiple Price Points

Developer Zephyr Partners is counting on an ample supply of investment capital, along with emerging signs of life in the long-moribund for-sale condominium market, as it launches some big-ticket projects in the local market.

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Oceanside Is Good Fit For Co.’s Custom T-shirt Printing Plant

PRODUCTION: New Facility Cuts Shipping Time, Adds to Growth

A Cleveland-based printing company is ramping up its custom T-shirt business with a new facility in Oceanside, wwwwaiming to cut down shipping time to the California artists and musicians who buy hundreds of thousands of custom shirts a year.

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Company’s Software Grades On Curve, Hills and Highways

TECH: It Piggybacks On Telematics Systems To Rate Drivers’ Safety

Just how good a driver are you: Excellent? OK? Not so great?

Several Options Being Considered for Former Sempra Building

PROPERTY: Speculation Includes City Hall, Hotel, As Manchester Gets Stake

As Sempra Energy completed its move into a brand-new headquarters tower in East Village, the owners of its former downtown home were mulling the next life for the 46-year-old Ash Street building.

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Maritime Museum Launches Newly Built Replica of San Salvador

The Maritime Museum of San Diego recently launched a full-sized, functional replica of explorer Juan Rodriguez Cabrillo’s 16th-century Spanish sailing ship, known as the San Salvador.

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Dealstruck Receives $10 Million Capital Investment

Carlsbad-based Dealstruck, an online provider of lending solutions for small- and medium-sized businesses, announced that it received a $10 million capital investment from Community Investment Management LLC.

‘Next MacGyver’s’ Engineering Feat Is to Inspire

Beth Keser of San Diego is one of 12 finalists in “The Next MacGyver” competition in Beverly Hills. The contest was created to introduce a new iconic TV series starring a female engineer and developed in conjunction with MacGyver creator Lee Zlotoff and The MacGyver Foundation.

Notre Dame, Navy to Clash At the Q in ’18

The U.S. Naval Academy and the University of Notre Dame will face off in a regular season football game at Qualcomm stadium in 2018, the San Diego Bowl Game Association said recently.

Biotechs Insulate Region as IPO Market Cools

BIOTECH: Surge in Private Financing Allows Some Cos. to Put Off IPO

The once white-hot market for initial public offerings in the U.S. has cooled in recent months as private companies stay private longer or opt to be taken out by larger rivals. But the local biotechnology scene may be insulating San Diego from the trend.

Qualcomm Strategy: Cut Employee Count, Costs

ECONOMY: Investor Pressure Changes Board; Split Is on Table

Wireless communications giant Qualcomm Inc. said July 22 that it plans to lay off 4,500 employees as part of an effort to streamline its business.

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No Doom Seen in S.D.’s VC Gloom

FINANCE: Activity Drops in Late Round, Seed Stage Grows

Venture capital investments slowed significantly in San Diego last quarter even as private equity dollars surged nationwide, according to two prominent reports.

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Historic Penn Building in Gaslamp Quarter Sells for $10.2 Million

An affiliate of Beverly Hills-based Maxxam Enterprises has purchased an historic Gaslamp Quarter mixed-use property known as the William Penn Building for $10.2 million, according to brokerage company CBRE Group Inc.

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DJO Muscling In Consumer Market

FITNESS: New Device First Of Its Kind to Get FDA OK

DJO Global is launching a new device for fitness buffs that uses electricity and wireless technology to activate muscles.

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Lpath Inc. Initiating Phase 1 Clinical Trial of Key Antibody

San Diego-based Lpath Inc. announced that it’s initiating a Phase 1 clinical trial to study Lpathomab within the next two months.

STK Rebel Restaurant to Open at Andaz San Diego Hotel

New York-based The ONE Group Hospitality Inc. plans to open a new location of its upscale STK Rebel restaurant in 2016 at downtown’s Andaz San Diego hotel.

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WATER HAZARD

SPORT: Golf Courses Make Changes, Redesigns To Survive the Drought

100-year-old oak trees rise above impressive boulders and chaparral to frame the lush tees, greens and fairways at Meadow Lake Golf Club northeast of Escondido.

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Mitek Systems Inc. Posts Q3 Revenue of $6.4 Million

Mitek Systems Inc., creator of mobile check deposit technology, said Thursday it saw record third-quarter revenue of $6.4 million in the three months ending in June, up nearly 38 percent from the same period last year.

Wednesday, July 22

Illumina Records Q2 Revenue of $539 Million

Shares of Illumina Inc. have fallen nearly 10 percent this week after the gene-sequencing company announced second-quarter revenue missed analysts’ expectations on Tuesday.

Carlsbad Apartment Building Sold for $10 Million

Property West Residential of San Diego has purchased the 45-unit Laguna Palms apartment property in Carlsbad for $10 million, according to commercial brokerage company Marcus & Millichap Inc.

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Ocean Beach Apartments Sell for $7.5 Million

An entity recorded as VKS 4th Avenue LLC, with Bob Smith as managing member, recently acquired the 22-unit Playa Apartments in Ocean Beach for $7.5 million, according to brokerage company ACRE Investment Real Estate Services.

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Qualcomm Confirms: More than 4,500 Jobs to be Cut

Wireless communications giant Qualcomm Inc. plans to lay off 15 percent of its staff as part of what it calls a “strategic realignment.” The company laid out its plan on July 22.

Navy, Notre Dame to Play at Qualcomm in 2018

The U.S. Naval Academy and the University of Notre Dame will face off in a regular season football game at Qualcomm stadium in 2018, the San Diego Bowl Game Association said Wednesday.

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The Daily Transcript to Cease Publication on Sept. 1

The Daily Transcript, San Diego’s daily business newspaper, will print its last edition on Sept. 1 and shutter operations later that month, the nearly 130-year-old publication announced Wednesday.

Tuesday, July 21

Navy Awards BAE Systems Contract Worth $38.3 Million

The U.S. Navy awarded BAE Systems San Diego Ship Repair a contract to perform depot-level maintenance and alterations to the USS Bunker Hill, the oldest Ticonderoga-class cruiser in the fleet. The deal is not to exceed $38.3 million. Work is expected to be complete by May of 2016.

Forge Therapeutics, Janssen to Conduct Pilot Study

Forge Therapeutics Inc., a biotechnology startup in San Diego, announced Tuesday that it has entered into a pilot study with Janssen Research & Development LLC.

Grandpoint Bank Reports Q2 Net Income of $7.3 Million

Grandpoint Bank and its three divisions, including La Jolla-based Regents Bank, reported on Tuesday a second-quarter net income of $7.3 million, up 62 percent from the $4.5 million during the same period last year.

Speculation Abounds Preceeding Qualcomm's Q3 Earnings Call

The days before wireless giant Qualcomm’s third quarter earnings call have turned into a media circus, with outlets speculating on possible layoffs and whether the company might entertain a suggestion to break itself up.

Vista Office Property Sells for $2.8 Million

An affiliate of San Diego-based Banyan Road Capital has purchased a Vista office and industrial building for $2.8 million, according to brokerage company Lee & Associates.

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Biopharmaceutical Startup Dauntless Announces $12M Series A Financing

Dauntless Pharmaceuticals Inc., a new biopharmaceutical company focused on the development of specialty drugs, announced Tuesday the closing of a $12 million Series A financing.

Manchester Buys 49 Percent Stake in Former Sempra Building

Manchester Financial Group, led by longtime local developer Douglas Manchester, has acquired a 49 percent stake in the downtown San Diego building that formerly housed Sempra Energy’s headquarters for $20 million, the company announced.

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Audrey Geisel Donates $3 Million to UC San Diego to Renovate Library

Audrey Geisel donated $3 million to the University of California, San Diego to renovate the Geisel Library, named after her and her husband, popular children's book author Theodor Seuss Geisel, the university announced Monday.

Monday, July 20

Genomatica to Collaborate with Food-Processing Giant Cargill

San Diego-based Genomatica and Cargill have entered into a collaboration agreement to accelerate the production of renewable chemicals for industrial applications.

Cubic Corp. Wins Contract From Emirates Airlines

San Diego-based Cubic Corp. announced on July 20 that it won a commercial client — Emirates Airlines — for what had previously been a military training product.

Navy Awards Boeing Contract For Support Services

The U.S. Navy awarded the Boeing Co.’s Oklahoma City office a one-year contract modification to provide one year of support services for the U.S. Navy C-40A aircraft, including depot maintenance and operational site support.

Marketing Firm Buys Kearny Mesa Building to House New Headquarters

San Diego-based InnoVision Marketing Group recently purchased a Kearny Mesa building, which will serve as its new headquarters.

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George Uy Leaving Sorrento Therapeutics for New Startup

Sorrento Therapeutics Inc., a late-stage clinical oncology company developing new treatments for cancer and its associated pain, announced that George Uy, executive vice president and chief commercial officer, will leave the company at the end of July to join a startup as its chief executive officer.

Cohn Plans Mid-August Opening for New Harbor Island Restaurant

Cohn Restaurant Group of San Diego has a mid-August opening planned for Coasterra, its new waterfront restaurant at Harbor Island.

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Sunday, July 19

Chula Vista Apartment Complex Purchased for $49 Million

An affiliate of Philadelphia-based Resource Real Estate has purchased the 295-unit Villages at Bonita Glen apartment complex in Chula Vista for approximately $49 million, according to CoStar Group and public data.

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Office Tower Owner Emmes Installs Charging Stations at Downtown Location

Downtown office property owner Emmes Realty Services has installed and opened 30 electric vehicle charging stations in its public parking garage at 707 Broadway, which the company says is the largest concentration of publicly available chargers in San Diego.

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Trovagene Inc. Expects to Raise $35 Million With Common Stock Offering

San Diego-based Trovagene Inc., a molecular diagnostics company, announced July 17 an offering of 4 million shares of its common stock, which is expected to bring in gross proceeds of around $35 million.

Median Home Price in County Is $476,000 for June

The median home price in San Diego County rose about 5.8 percent in June from the year before, to $476,000, as the number of homes sold increased 20 percent, to 4,467, according to data from CoreLogic.

Uber Fined, Threatened With Possible Suspension of License in State

The state has threatened to sideline certain operations of the ride-sharing company Uber in 30 days if the company does not provide rider data to the California Public Utilities Commission.

S.D. Unemployment Rate Increases Slightly to 5% in June

Unemployment in San Diego rose slightly to 5 percent in June, up from a revised 4.9 percent in May, as the region added 4,200 jobs.

Marriott Marquis Hotel Plans $7 Million Marina Renovation

Owner Host Hotels & Resorts Inc. has a $7 million renovation planned for the marina at its Marriott Marquis San Diego Marina hotel in downtown San Diego. Operators said the project is set to begin in the fourth quarter of 2015.

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The Business Calendar for the Week of July 20, 2015

Some of the business events planned in the county for the week of July 20, 2015, and beyond.

Gruber Named New CEO at MyDx Inc.

MyDx Inc., creator of a hand-held chemical analyzer for consumers, has appointed Tom Gruber as the new chief executive officer effective July 10, 2015.

Harvard Engineering Appoints Paul Hussey as New CEO

Harvard Engineering, a designer, developer and manufacturer of energy saving lighting solutions, announced the appointment of Paul Hussey as the company’s new chief executive officer.

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SDG&E Awards $1M in Grants for Disaster Preparedness, Fire Safety

San Diego Gas & Electric announced it has awarded $1,000,000 in grants to more than 87 regional safety partners as part of SAFE San Diego, a SDG&E philanthropic initiative aimed at supporting nonprofit organizations dedicated to disaster preparedness, emergency response training, wildfire education, and defensible space assistance programs.

Friday, July 17

Office Tower Owner Emmes Adds Charging Stations at Downtown Location

Downtown office property owner Emmes Realty Services has installed and opened 30 electric vehicle charging stations in its public parking garage at 707 Broadway, which the company says is the largest concentration of publicly available chargers in San Diego.

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Chula Vista Apartment Complex Sells for $49 Million

An affiliate of Philadelphia-based Resource Real Estate has purchased the 295-unit Villages at Bonita Glen apartment complex in Chula Vista for approximately $49 million, according to CoStar Group and public data.

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Business Calendar for Week of July 20, 2015

Some of the business events planned in the county for the week of July 20, 2015, and beyond.

Marriott Marquis Hotel Plans $7M Marina Renovation

Owner Host Hotels & Resorts Inc. has a $7 million renovation planned for the marina at its Marriott Marquis San Diego Marina hotel in downtown San Diego. Operators said the project is set to begin in the fourth quarter of 2015.

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County Unemployment Rate Increases Slightly to 5% in June

Unemployment in San Diego rose slightly to 5 percent in June, up from a revised 4.9 percent in May, as the region added 4,200 jobs.

Trovagene Aims to Raise $35M With Common Stock Offering

San Diego-based Trovagene Inc., a molecular diagnostics company, announced July 17 an offering of 4 million shares of its common stock, which is expected to bring in gross proceeds of around $35 million.

County Median Home Price Increased 5.8% in June

The median home price in San Diego County rose about 5.8 percent in June from the year before, to $476,000, as the number of homes sold increased 20 percent, to 4,467, according to data from CoreLogic.

SDG&E Awards $1M in Grants for Fire Safety, Disaster Preparedness

San Diego Gas & Electric announced it has awarded $1,000,000 in grants to more than 87 regional safety partners as part of SAFE San Diego, a SDG&E philanthropic initiative aimed at supporting nonprofit organizations dedicated to disaster preparedness, emergency response training, wildfire education, and defensible space assistance programs.

Tom Gruber Named New CEO at MyDx Inc.

MyDx Inc., creator of a handheld chemical analyzer for consumers, has appointed Tom Gruber as the new chief executive officer effective July 10, 2015.

Thursday, July 16

State Awards One-Year Contract to Envision Solar International

California has awarded San Diego-based Envision Solar International Inc. a one-year contract to supply its solar-powered electric car recharging stations to state departments and municipal agencies, the company said Thursday. The contract could be extended through 2018.

AB 525 Will Bring Fairness Back to Franchising

When I came to this country, I had $20 in my pocket and little else but dreams. Now I have a home; I own my own business with three stores; I have one son who just earned a master’s degree and another in college.

Fundraising Fete Brings Big Amount to Voices for Children

Voices for Children held its annual Wine Women and Shoes fundraiser, which raised a record-breaking $225,000. The proceeds will provide many more foster children in San Diego County with the caring support of a Court Appointed Special Advocate, or CASA volunteer. The event was held at the Mission Hills home of Marina Marrelli, a former board member and longtime supporter of VFC. Guests enjoyed wine tasting, shopping, fashion vignettes, and a live auction. The top seller in the auction was a pair of floor tickets to the Rolling Stones and an overnight stay at the Manchester Grand Hyatt.

National Investment Firms Buying into Carlsbad Office Market

The city of Carlsbad has emerged as San Diego County’s hot hub for big sales of existing office properties so far in 2015.

The Headquarters Getting Flour & Barley Restaurant

Operators of The Headquarters at Seaport commercial center in downtown San Diego recently signed a lease with Block 16 Hospitality to operate the region’s first Flour & Barley Brick Oven Pizza restaurant, set to open this fall.

Industry Leaders Forecast Higher Demand, Rents

The San Diego Business Journal recently spoke with top local regional executives of the larger commercial real estate brokerage companies. Here are some of their takes on what happened in the year’s first half and what’s likely ahead for the rest of 2015:

Speculating On What’s Next

With Few Spec Projects Underway, Market Conditions Continue to Drive Up Tenant Costs

Halfway through 2015, San Diego County’s commercial real estate market is reaping the benefits of continued new-job creation and an unemployment rate that had dipped to 4.9 percent as of late spring, down from around 6 percent at the same point of 2014.

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Digital Gift Card Business Transaction Wireless Inc. Is Sold

A subsidiary of Kohlberg Kravis Roberts & Co. has acquired Transaction Wireless Inc., a San Diego firm that specializes in prepaid digital gift cards for mobile devices such as phones, as well as social media.

Small Loans Become Profitable With Employers on Board

FINANCE: Payroll Deductions Are a Key Part of Lowering Risk

Borrowers looking for a loan of $1,000 or less typically have limited choices. Banks say the interest and fees often aren’t enough to make the loan profitable, as the origination and servicing costs are just as high as more traditional loans. Payday loans require fast payback and carry high annualized interest rates.

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Zodiac Pool Systems Always Looking for Next Good Buy

PRODUCTION: The Co. Finds Success in Preserving Its Brands’ Identities

There aren’t many Southern California companies that can claim they’re connected to a 19th century French aeronaut.

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Viviano’s Departure Won’t Slow UCSD Health’s Building Boom

UC San Diego Health System is losing its well-respected chief executive officer, Paul Viviano, but hospital officials say the loss won’t delay its building boom.

Serving Appetite for Healthful Restaurant Fare

DINING: Company’s Main Focus is on The National Chains

As the restaurant industry caters to the increasingly health-conscious consumer, tweaking menu items to reduce calories and promote super foods, a company in San Diego is making it easier to find the closest and healthiest spot for dinner.

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Submaran Can Dive Right Into Missions Without a Crew

TECH: Seagoing Craft Carries Sensors, Operates Autonomously

Ocean Aero Inc. builds sailboats, but its product is unlike any sailboat you have seen before.

RF Surgical Is Being Acquired By Medtronic

Carlsbad-based health tech firm RF Surgical Systems Inc. will be acquired by Dublin-based Medtronic for roughly $235 million, according to a recent news release.

Survey Finds CEOs Expect Hiring Slowdown

WORKFORCE: More Than 70% of Small Firms Expected Revenue Gains

CEOs plan on adding fewer workers to their payroll despite cautious optimism about economic improvement, according to the second quarter 2015 Vistage CEO Confidence Index Survey of small- to mid-sized businesses.

Qualcomm Still Gets ‘Buy’ in Challenging Times

TECH: Earnings to Be Reported July 22; Critics Call for Change

Earnings season is one of the few times in a year when Qualcomm Inc. executives break their usual silence to offer a glimpse of how the company is faring.

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Daily Transcript to Shut Down After 130 Years

MEDIA: Increasing Costs, Uncertainties Prompted Closure

The Daily Transcript, San Diego’s daily business newspaper, will print its last edition on Sept. 1 and cease operations later that month, the publisher of the nearly 130-year-old publication announced Wednesday.

Receptos Sale Is a Familiar Story for S.D.

The tally is now 20. That’s how many of the largest companies in San Diego County in the past 11 years have been sold, relocated, went private or liquidated. Now another prominent, young biotech bids adieu.

Aztecs, Bowl Games May Need New Home if Chargers Bolt

SPORT: Stadium Said To Need a Pro Team To Be Viable Venue

The conversation over San Diego football in Mission Valley and a replacement for the aging Qualcomm Stadium has naturally focused on how to keep the Chargers in town.

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Sale of High-Flying Receptos Could Fuel More Innovation

BIOTECH: Talent Likely to Start New Ventures

In one of the largest sales of a San Diego biotech to date, New Jersey-based drug maker Celgene has agreed to purchase Receptos Inc. for $7.2 billion.

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Behind the Innovation Is Lots of Patent Power

ECONOMY: IP Prowess Seen In Region’s Rankings

If patents are a measure of brainpower, the region is awash in gray matter.

UC San Diego to Pay MTS $30 Million for Naming Rights on Trolley Line

University of California, San Diego is entering into a $30 million deal with the Metropolitan Transit System to dub the Mid-Coast Trolley Line the “UC San Diego Blue Line.”

The Aftermath

What Price Would S.D. Pay If the Chargers Leave Town?

San Diego native Rafael Alvarez remembers coming across a homeless person in Barrio Logan a few years back, and recalls that despite having a hard life, the man proudly sported a San Diego Chargers cap.

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County Retirement Board Ends Agreement With Outside Investment Firm

The board in charge of the San Diego County Employees Retirement Association voted Thursday to formally end its agreement with investment managers Salient Partners after hiring an internal investment officer to take over management of the $10.6 billion fund.

Poway Industrial Property Purchased for $16.9 Million

Rexford Industrial Realty Inc. of Los Angeles has acquired a Poway industrial building for $16.9 million, the company announced.

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Corporate Directors Forum to Honor ‘Virtuosos of the Boardroom’

Corporate Directors Forum is set to recognize six  San Diego directors for their outstanding performance in corporate governance at its 24th annual Director of the Year awards.

Seacoast Commerce Reports Q2 Net Income of $1.4 Million

Second-quarter net income for Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, rose nearly a $1 million since last year, to $1.4 million, the company’s 20th consecutive quarterly profit.

Qualcomm Subject of Two European Commission Investigations

The European Commission said on July 16 that it opened two formal investigations of Qualcomm’s competitive practices in its sale of radio chips for mobile devices, also called baseband chips.

Wednesday, July 15

National Cancer Institute Awards IriSys 5-Year, $3M Contract

IriSys LLC, a San Diego-based pharmaceutical contract development and manufacturing organization, announced Wednesday that it was awarded a five-year contract worth up to $3 million by the National Cancer Institute (NCI).

San Diego Businesses to Share Work Awarded Under Navy Contracts

The U.S. Navy recently awarded three indefinite-quantity contracts to businesses that will perform engineering and technical work on its submarine fleet.

California Cheerleaders Win Classification as Employees

Charger Girls and other California cheerleaders will soon be classified as employees opposed to contract workers, after Gov. Jerry Brown on Wednesday signed a labor bill drafted by Assemblywoman Lorena Gonzalez, D-San Diego.

ImageWare Systems Licenses Technology to Lockheed Martin

A small Rancho Bernardo tech company said on July 14 that it has licensed certain biometric technology to defense contracting giant Lockheed Martin Corp.

AnaptysBio Raises $40 Million in Series D Round

AnaptysBio Inc., a company developing therapeutic antibodies for inflammation and immuno-oncology, announced Wednesday that it has raised $40 million in an oversubscribed Series D round.

High Road Capital Partners, a Private Equity Firm, Acquires Cali Bamboo

Cali Bamboo LLC, a San Diego-based manufacturer of bamboo flooring and other bamboo products, has been acquired by private equity firm High Road Capital Partners, the companies said Wednesday.

Nominations Open for the 2015 Women Who Mean Business Awards

The San Diego Business Journal is now accepting nominations for the 22nd Annual Women Who Mean Business Awards, which recognizes dynamic women business leaders who have contributed significantly to San Diego’s businesses.

Tuesday, July 14

Council Approves $2.1 Million for Stadium Environmental Impact Report

The San Diego City Council has approved spending $2.1 million to continue preparing an environmental impact report for a proposed Mission Valley stadium project aimed at keeping the San Diego Chargers in the city.

Zephyr Plans Mixed-use Dana Point Project after $50 Million Land Buy

San Diego-based Zephyr Partners has acquired a nine-acre parcel in Dana Point for $50 million, with plans to develop a mixed-use community on the property.

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Receptos Inc. Acquired by Celgene Corp. for $7.2 Billion

Receptos Inc., one of San Diego’s most promising biotech companies and a favorite or TheStreet's Jim Cramer, will be bought by New Jersey-based pharma giant Celgene Corp. for $7.2 billion.

Foreclosures Down 4 Percent Over Last Year

San Diego saw 1,735 completed foreclosures in the year ending in May, down about 4 percent from 1,809 the year before, as foreclosures dropped sharply nationwide, according to data from CoreLogic.

Tech Coast Angels Set July 24 Deadline for Quick Pitch Contest

Tech Coast Angels have set a July 24 deadline to apply for the organization’s 9th annual John G. Watson Quick Pitch contest.

Transaction Wireless Acquired by First Data Corp. for Undisclosed Price

An Atlanta company has acquired Transaction Wireless Inc., a San Diego firm whose specialty is prepaid digital gift cards, for undisclosed terms.

New Restaurant Joining Lineup at Downtown’s The Headquarters

Operators of The Headquarters at Seaport commercial center in downtown San Diego recently signed a lease with Block 16 Hospitality to operate the region’s first Flour & Barley Brick Oven Pizza restaurant, set to open this fall.

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aTyr Pharma Inc. President/COO Frederic Chereau Resigns

San Diego-based aTyr Pharma Inc., a public biotherapeutics company developing therapeutics to address severe rare diseases, announced Monday the resignation of President and Chief Operating Officer Frederic Chereau, effective immediately.

Tech Startup MyDx Inc. Launches First Sensor/App

San Diego-based tech startup MyDx Inc. announced the nationwide launch of its initial product containing the CannaDx sensor and app, designed to help consumers test, index and review strains of medical marijuana.

Monday, July 13

NuVasive Inc. Restructures Executive Team

NuVasive Inc., a public medical device company in San Diego, announced new executive appointments Monday following the appointment of Greg Lucier to chief executive earlier this year.

Navy Awards Sodexo Management $17.7 Million Contract

The U.S. Navy awarded Sodexo Management Inc. a $17.7 million contract modification to provide meals at U.S. Marine Corps bases.

USD Business School Programs Ranked Third by Financial Times

The University of San Diego’s School of Business Administration is ranked third worldwide for MBA programs in entrepreneurship, according to the Financial Times’ annual MBA list.

San Diego Apartments Sold for $2.45 Million

Imhotep Properties LLC of Rancho Palos Verdes recently purchased two contiguous seven-unit apartment buildings in San Diego’s Talmadge neighborhood for $2.45 million, according to brokerage company Marcus & Millichap Inc.

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Medtronic Acquires Carlsbad-Based RF Surgical Systems for $235 Million

Carlsbad health tech firm RF Surgical Systems Inc. will be acquired by Dublin-based Medtronic for roughly $235 million, according to a recent press release.

Biotech Veterans Raise $4.2 Million in Debt Financing

A local biopharmaceutical company founded by biotech veterans Cam Garner and Ted Schroeder has raised $4.2 million in debt financing, according to a recent filing with the Securities and Exchange Commission.

Robert E. Hoffman Named CFO at AnaptysBio Inc.

AnaptysBio Inc., a company developing therapeutic antibodies for inflammation, announced Monday the appointment of Robert E. Hoffman as chief financial officer.

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Imperial Beach Apartment Property Sells for $8 Million

Investor Craig Knudson of San Diego has acquired the 36-unit Rancho Coronado apartment property in Imperial Beach for $8 million, according to brokerage company Marcus & Millichap Inc.

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Nominations Open for the 2015 Women Who Mean Business Awards

The San Diego Business Journal is now accepting nominations for the 22nd Annual Women Who Mean Business Awards, which recognizes dynamic women business leaders who have contributed significantly to San Diego’s businesses.

Sunday, July 12

The Business Calendar for the Week of July 13, 2013

Some of the business events planned in the county for the week of July 13, 2015, and beyond.

Friday, July 10

WD-40 Reports Q3 Net Income of Nearly $11M on Net Sales of $92.5M

WD-40 Co. — which does a global business selling its lubricants, soaps and other chemicals — reported net income of almost $11 million on net sales of $92.5 million for its third quarter, which ended on May 31.

General Atomics Awarded $14.6 Million Army Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a $14.6 million contract modification for one year of software engineering services for its Gray Eagle unmanned aircraft. Gray Eagle is a Predator unmanned aircraft built to Army specifications.

CSUSM Appoints New Chief Information Officer

California State University San Marcos (CSUSM) announced that Kevin Morningstar has been named chief information officer (CIO) and dean of Instructional and Informational Services (IITS). He joined the campus on July 1.

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Co. Plans to Import Cement at Marine Terminal

PORT: Proposal Calls for Building New $7M Facility

Anticipating a need for more construction material in Southern California, Mitsubishi Cement Corp. is laying plans to import cement by ship through the 10th Avenue Marine Terminal controlled by the San Diego Unified Port District.

Facelift a Lesson in Taking Care of the Brand

When one of the world’s more polarizing brands makes a change to its logo, it makes headlines.

These Heroes Made a Super Effort to Support Miracle Babies

The seventh annual Miracle Babies 5K took place recently at Embarcadero Marina Park South.

ALPINE AERIE

This contemporary architectural Alpine beauty is inside the gates of the equestrian residential community of Rancho Palo Verde.

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Neustar Moving to New Irvine Company Tower at UTC

Information services technology provider Neustar Inc. has signed a lease to occupy approximately 23,000 square feet at One La Jolla Center, Irvine Company’s recently completed office tower at University Towne Center.

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Volunteers Needed For Annual Veterans Stand Down

A lot of civic-minded and patriotic local attorneys have participated in Stand Down over the years.

Cisco Buys Carlsbad Firm For $139M

Cisco System Inc. said on July 7 that it plans to buy a privately held Carlsbad business, MaintenanceNet, for $139 million in cash and retention-based incentives.

Growing Pains

ECONOMY: Rapid Growth Can Bring New Concerns, Distractions

Doubling or even tripling revenues in just two years is a dream for many entrepreneurs, a sign they correctly spotted an unmet need and that their business could soon be an unqualified success.

Business Calendar for Week of July 13, 2015

Some of the business events planned in the county for the week of July 13, 2015, and beyond.

New TargetExpress Shows Retail Changes Are Big and Small

RETAIL: Upcoming South Park Site to Fit In an Urban Market

Target Corp. is aiming to capitalize on two trends with its upcoming TargetExpress store, set to open Oct. 7 in San Diego’s South Park neighborhood

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Teledyne Takes to Seas With Unmanned Operating Systems

In the late 1960s, a company called Teledyne bought a groundbreaking San Diego aviation firm called Ryan. Building on technology developed for target drones, they came up with a robot plane called the Global Hawk. Eventually, Northrop Grumman Corp. bought the business and ended up selling Global Hawks by the score … and the business stayed in San Diego.

Builder Takes Conservation Plunge, Installs Gray Water Systems

BUILDING: Adding Feature to New Houses Costs $10,000

Every house in KB Home’s latest San Diego development comes standard with a feature designed to attract drought-conscious consumers. All 52 homes are equipped with a gray water system to convert used water from showers, bathroom sinks and washing machines into water ready for lawn sprinklers and outdoor fountains.

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Xerox Bought Co. and Bought Into Its Management Style

SERVICE: Office Services And Technology Firm Boosts Revenue, People

MRC - Smart Technology Solutions has doubled its revenue to more than $80 million since 2009, but President Bob Leone is most proud of the caring culture he has built since founding the San Diego-based company in 1994.

Summer Visitors Are Helping Tourism to Top Levels of 2014

TRAVEL: Season’s Average Daily Visitor Count Is 114,000

With 2015 now half over, tourism officials and economists say San Diego County is trending ahead of its performance a year ago — and also against rival tourism destinations — based on metrics including visitor counts and overnight hotel stays.

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Hollywood Casino to Offer Some Sure Bets for Drawing Patrons

GAMING: Lineup to Include Noodle Bar, Rooftop Beer Garde

With its steel structure complete and other construction moving along, the company behind the Jamul casino announced the kind of features visitors will encounter when the venue opens its doors.

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New Cell Sorter Aims to Fill Need for Speed and Availability

BIOTECH: Now in Beta Testing; Pre-Orders Could Start in the Fall

Imagine there were no affordable personal printers or scanners and you had to stand in line at Kinkos every time you needed to print or scan a document for a client. The costs could quickly become prohibitive.

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GO-Biz Launches Website

The Governor’s Office of Business and Economic Development (GO-Biz) announced the launch of the California Business Portal, a one-stop-shop website for business owners looking for information and assistance.

Cash Prizes for Cos. Part of Export Initiative

TRADE: Fifteen Businesses Receive $10,000 to Expand

Fifteen San Diego companies received $10,000 each from the San Diego Regional Economic Development Corp., part of a JPMorgan Chase & Co.-backed initiative to boost the area’s international exports.

Cash Prizes for Cos. Part of Export Initiative

TRADE: Fifteen Businesses Receive $10,000 to Expand

Fifteen San Diego companies received $10,000 each from the San Diego Regional Economic Development Corp., part of a JPMorgan Chase & Co.-backed initiative to boost the area’s international exports.

TearLab Is Moving Its Headquarters to Texas

ECONOMY: Company Appoints Executive Wes Brazell CFO

Yet another San Diego company is moving to Texas.

‘Confidential’ Stadium Dealings: Read All About It

If you think Mayor Kevin Faulconer has a challenging task to get a deal done to build a multi-use stadium in San Diego, check out what Rancho Santa Fe’s Floyd Kephart faces in trying to get a stadium built for the Raiders in Oakland.

Team Tennis Trying To Take Off Locally

SPORT: Aviators Change Fan Experience and Venue

The San Diego Aviators, the city’s professional tennis team, ended its inaugural season last year with the best regular season record and an all-star roster that included the top-ranked men’s doubles partners in the world.

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New CEO Is Seeking Recognition for Port of San Diego

ECONOMY: Job Requires Balancing Diverse Interests

Randa J. Coniglio has lived in San Diego all her life, but the new top executive at the Port of San Diego said she didn’t become aware of the port’s scope and importance until age 40.

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Local Firm Buys Carlsbad Industrial Building for $8.75 Million

Investment firm SR Commercial of Solana Beach has purchased a Carlsbad industrial building for $8.75 million, according to brokerage company DTZ.

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Airport Open House to Focus on Development Planning

San Diego International Airport operators have scheduled an open house for July 14, the latest in a series of public meetings to gather input on long-term development at the facility.

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Tri-City Medical Center Ends Partnership With Nifty After Fifty

Tri-City Medical Center and Nifty After Fifty LLC have come to a mutual agreement to terminate their relationship effective July 31, according to a spokesman for the Oceanside hospital. .

Sorrento Therapeutics, NantBioSciences Form Joint Venture

San Diego-based Sorrento Therapeutics Inc. and NantBioScience Inc. announced Thursday that it has established a joint venture to develop "first-in-class" small molecules against targets that have eluded the pharmaceutical industry to date.

Thursday, July 9

San Diego Exported $18.6 Billion in Goods in 2014

San Diego exported a record $18.6 billion worth of goods last year, up about $700 million from 2013, the U.S. Department of Commerce said Thursday.

Construction Begins on Interstate 15 Transit Stations

SANDAG kicked off construction of transit stations at two spots in the middle of Interstate 15 — El Cajon Boulevard and University Avenue — with a ceremony on July 8.

PriceSmart Reports Q3 Results, New Store Opening

San Diego-based PriceSmart Inc. announced net warehouse club sales of $675.3 million for the third quarter of the 2015 fiscal year, an increase of 13 percent from the like quarter in 2014.

Sales of Townhomes, Condos Jump 20 Percent in June

Sales of San Diego condos and townhomes jumped 20 percent in June compared to the year before, with nearly 1,200 sales recorded at a median price of $354,000, according to the Greater San Diego Association of Realtors.

Dawn Martin Named Senior VP of HR at San Diego County Credit Union

San Diego County Credit Union has named Dawn Martin as its senior vice president of human resources, the company said Thursday.

Verizon Takes Large Space at Sorrento Mesa Office Campus

Telecommunications giant Verizon Communications Inc. has leased 110,000 square feet of space at the recently renovated Enclave Sorrento office campus in Sorrento Mesa, according to brokerage company JLL.

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Survey Finds CEOs Expect Slowdown in Hiring

CEOs plan on adding fewer workers to their payroll despite cautious optimism about economic improvement, according to the second quarter 2015 Vistage CEO Confidence Index Survey.

Rear Adm. Markham Rich to be Next S.D. Navy Mayor

Rear Adm. Markham K. Rich will take his new post as “Navy mayor” of San Diego on July 13 during a private ceremony on the USS Midway museum. Rich’s official title will be commander, Navy Region Southwest.

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Carlsbad Supporters Deliver 20,000 Signatures for Agua Hedionda Development

Proponents of a planned open-space preserve and commercial development near Agua Hedionda Lagoon in Carlsbad have delivered more than 20,000 signatures to the city clerk, in an effort to place a development-related ballot measure before voters in an upcoming election.

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Wednesday, July 8

Virgin America to Use ViaSat Wi-Fi Technology in Aircraft

ViaSat Inc. announced on July 7 that Virgin America Inc. will put ViaSat’s in-flight Wi-Fi technology aboard its next 10 aircraft.

Cisco to Buy Carlsbad-Based MaintenanceNet for $139 Million

Cisco System Inc. said on July 7 that it plans to buy a privately held Carlsbad business, MaintenanceNet, for $139 million in cash and retention-based incentives.

Federal Reserve Awards Seacoast Commerce Bank 'Outstanding' Rating

The Federal Reserve Bank has awarded San Diego-based Seacoast Commerce Bank the highest rating possible for meeting the credit needs of the local community, Seacoast said Wednesday.

Hughes Marino Joins New Global Tenant-Focused Real Estate Group

Commercial real estate services provider Hughes Marino Inc. of San Diego has joined Exis, a global business organization focused exclusively on tenant representation.

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Newly Opened Gaslamp Quarter Hotel Gets New Owner

Columbia Properties Inc. of Seattle has acquired the recently completed and opened Hotel Z, a new 96-room boutique hotel in downtown San Diego’s Gaslamp Quarter.

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Medical Device Maker ResMed Acquires CareTouch

San Diego-based ResMed, a company that makes devices for sleeping disorders, has acquired Westminster-based CareTouch, a medical equipment resupply and health information communications firm, officials announced Wednesday.

USD's New Center Will Offer Degree Program in Cyber Security

The University of San Diego on Tuesday said it will launch a center focusing on cyber security threats later this year, offering master's degrees and certificates.

Paul Viviano Leaving UC San Diego Health System for L.A. Job

The CEO of the UC San Diego Health System is leaving the hospital to become president and CEO of Children’s Hospital Los Angeles.

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Tuesday, July 7

Jack in the Box Inc. Amends Credit Agreement

Jack in the Box Inc. announced completion of an amendment to its existing senior credit facility. Under the terms of the amendment, the credit facility was increased to $1.2 billion, which consists of a $300 million term loan and $900 million revolving credit facility, the company said.

Five-Building Carlsbad Office Portfolio Sells for $48.85 Million

An affiliate of Beverly, Mass.-based Brookwood Financial Partners LLC has purchased a five-building Carlsbad office portfolio for $48.85 million, according to CoStar Group and public data.

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Qualcomm to Distribute Quarterly Cash Dividend

Qualcomm Inc. said on July 7 that it will distribute a quarterly cash dividend of 48 cents per share. The dividend is payable Sept. 23 to stockholders of record on Sept. 2.

Airbnb Sees Tripling in Pre-Comic-Con Rental Bookings

Property rental website Airbnb has seen a near tripling over last year for local reservations booked ahead of this year’s Comic-Con International, set for July 9-12 at San Diego Convention Center.

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Moxie Center at UCSD Closes After Funding Runs Out

The Moxie Center for Student Entrepreneurship at the University of California, San Diego closed shop on June 30 as its grant funding ran out.

Dr. Gene Ma Named Chief of Staff at Tri-City Medical Center

Tri-City Medical Center in Oceanside has appointed Dr. Gene Ma, a board-certified emergency medicine specialist with 15 years of experience, to the position of chief of staff. The appointment was effective July 1 and runs through June 30, 2016.

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Shelley Lyford to Succeed Nick Valeriani at West Health

West Health announced Tuesday that Nick Valeriani will retire from the organization's chief executive officer position, effective Sept. 4.

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Ground Lease on Vista Restaurant Property Sold for $4.65 Million

A San Diego buyer recorded as Byron F. White 2001 Revocable Trust has acquired the ground lease on a Vista property housing a Jack in the Box and a Taco Bell restaurant for $4.65 million, according to brokerage company Marcus & Millichap Inc.

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Monday, July 6

TearLab Corp. Moving Headquarters to Texas

Yet another San Diego company is moving to Texas.

Navy Awards Work to Seven Contractors

The U.S. Navy said on July 6 that it selected seven contractors to do work on unmanned maritime systems in deals that could individually exceed $100 million, and in some cases $200 million.

SDSU Alum Fred Pierce and Wife Donate $2.5 Million to Business School

San Diego State University alumnus Fred Pierce and his wife Christine are donating more than $2.5 million to the College of Business Administration, Aztec athletics, Greek life, student scholarships and the school’s alumni association, SDSU announced Monday.

Carlsbad Office Portfolio Sold for $13.5 Million

An affiliate of San Francisco-based Graymark Capital has acquired a five-building office portfolio in Carlsbad for approximately $13.5 million, according to CoStar Group and public data.

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Kratos Subsidiary Inks Satellite Equipment Deal

Kratos Defense & Security Solutions Inc. announced on July 6 that one of its subsidiaries had a new satellite equipment deal with a large Indonesian telecom company.

Airport Approves Pilot Program for Rideshare Providers Lyft, Uber

San Diego International Airport operators have given the go-ahead for ridesharing companies Lyft and Uber to begin operations at the airport, as part of a pilot program.

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Maxwell Technologies Secures $25M Revolving Credit Facility

Maxwell Technologies Inc., a producer of energy storage and power delivery solutions, announced that it has obtained a three-year, $25 million revolving credit facility for working capital purposes, from East West Bank.

OncoSec Names Joann Lofgren to New VP Position

San Diego-based OncoSec Medical Inc., a company developing cancer immunotherapies, announced Monday the appointment of Joann V. Lofgren to the newly created position of vice president of market development.

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Sunday, July 5

Realty Income Closes on $2.25 Billion Credit Facility

San Diego-based Realty Income Corp. has closed on a new $2.25 billion unsecured credit facility, to replace a previous $1.5 billion unsecured credit facility.

Cubic Corp. Names James Blake VP of Global Defense Business

Cubic Corp. has named James T. Blake to an upper management post in its Cubic Global Defense business.

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Comic-Con Opts to Remain in San Diego through 2018

Comic-Con International, the pop-culture mega-event that annually brings 130,000 people to the San Diego Convention Center, will be staying in San Diego through 2018, organizers and city officials announced.

Index Shows an Improving California Economy

Comerica Bank’s California Economic Activity Index improved in April, increasing 0.7 of a percentage point to a level of 119.7, the bank said.

The Business Calendar for the Week of July 6, 2015

Some of the business events planned in the county for the week of July 6, 2015, and beyond.

Zephyr Names Architects for $250 Million Downtown Project

Zephyr Partners recently named the lead building design and landscape architects for The Block, a $250 million downtown mixed-use project announced last year by the San Diego-based developer.

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San Diego to Share $75 Million Navy Contract to Repair Aircraft Carriers

The Pentagon inked a two-year contract with Huntington Ingalls Inc. to provide ship repair support for two U.S. Navy aircraft carriers, the USS Nimitz and the USS Carl Vinson. One-fourth of the work is expected to go to San Diego, with the balance to Bremerton, Wash.

Nominations Open for the 2015 Manufacturing Awards

The San Diego Business Journal is now accepting nominations for the 2015 Manufacturing Awards, which honors companies and individuals within the San Diego community in the manufacturing industry.

Thursday, July 2

Urban Forests At Risk Without Proactive Measures

The 177 million trees in California’s urban forests are at-risk as state-mandated water cuts start to significantly reduce irrigation vital to mostly non-native, ornamental trees. For context of the threat, 12 million native trees in California’s wildlands have died due to the extended drought.

It’s Not Just the Tides That Shape the Pacific Beach Experience

Pacific Beach is one of many communities in the county that benefited from the railroad link between San Diego and the East Coast in 1885. Soon to follow were hordes of visitors and would-be buyers of real estate in the area. And buy they did, so much so that a San Diego Union newspaper report during this time cautioned buyers to beware of the inflated prices of the bayside lots “going for $25 and $100.”

Essay Contest Aims to Help Public Transit Pick Up More Riders

Helping the environment, saving money and extra study time were a few compelling arguments high school seniors made about the benefits of taking public transit to win laptops as part of the Metropolitan Transit System and Coca-Cola Cos. Laptop Scholarship Essay Contest.

TIME FOR A CHANGE

Two Women Entrepreneurs Saw Opportunity in A Financial Market That Wasn’t Being Well Served

When Valorie Seyfert and Amy Beattie launched CUSO Financial Services (CFS) in 1996, they were betting they could capitalize on credit unions’ frustrations with the independent broker-dealers the institutions had hired to offer securities products, such as annuities and mutual funds, to the unions’ members.

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Putting Women on Frontlines of Entrepreneurial Empowerment

FINANCE: Boot Camp Wants Female Investors for World Changing Mission

An all-female boot camp for angel investors is coming to San Diego this fall, designed to boost the participation of women in a field dominated by men.

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MAINTAINING AN EDGE

Property: Being Competitive is a Must in Building Maintenance

The phenomenon of two women owning and running a building maintenance business may have gotten attention in San Diego’s business circles in the days when Ronald Reagan was president.

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Realty Income Closes on New $2.25 Billion Credit Facility

San Diego-based Realty Income Corp. has closed on a new $2.25 billion unsecured credit facility, to replace a previous $1.5 billion unsecured credit facility.

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Business Calendar for Week of July 6, 2015

Some of the business events scheduled in the county for the week of July 6, 2015, and beyond.

Cubic Corp. Names James Blake VP of Global Defense Business

Cubic Corp. has named James T. Blake to an upper management post in its Cubic Global Defense business.

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Lights, Camera, Legal Actions: Law & Comics Goes Hollywood

The San Diego Law Library is celebrating the sixth year of its popular Lindley Law & Comics. This year the theme is “Law & Comics Goes to Hollywood.”

Auto Dealers Get a New Vehicle for Wholesale

TECH: East County Entrepreneur’s Platform Targets $1T Industry

Troy Mack might be perfect for the lead role if Hollywood ever remakes that popular cult classic “The Mouse That Roared” about taking on the “big guy.”

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Hotel Deals Are Going Strong as Sector Continues to Prosper

A strong hospitality climate is keeping hotel properties high on the list of big San Diego County deals so far in 2015.

A Stronger Role for Fitness in Health Care Is ACE’s Goal

MEDICINE: Group’s Strengths Could Aid Health Care Mission

It’s not often that the world of 24-hour health clubs and fitness studios intersects with the traditional health care system.

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Always Hungry for Opportunity, Qualcomm Backs MangoPlate

When it comes to making investments, Qualcomm Inc. views the world as its oyster.

Quarry Sites Eyed By Developers for Mixed-Use Projects

PROPERTY: Proposal In Mira Mesa Is for a 293-Acre Development

The process is relatively slow due to necessary environmental reviews, but former quarry properties — used for decades to mine materials for the region’s past construction projects — are gradually shaping up as potential sites for future new neighborhoods and mixed-use developments.

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HUYA Names VP for Japan Operations

HUYA Bioscience International announced an expansion of its senior management team with the appointment of Yoshiki Shimamura as vice president for Japan operations.

Working Moms Winning More Acceptance

Teen and adult acceptance of working mothers has risen to an all-time high, about double what it was in the late 1970s, researchers at San Diego State University and the University of California, San Diego said.

Comic-Con Staying in San Diego Through 2018

Comic-Con International, the pop-culture mega-event that annually brings 130,000 people to the San Diego Convention Center, will be staying in San Diego through 2018, organizers and city officials announced.

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Glucose Monitoring May Be Serious Fun With New App

SOFTWARE: Doctor Makes a Game of It, Adds Rewards

Dr. David Ahn thinks he can help people with diabetes do a much better job of checking their blood sugar. His solution? Make a game out of it.

Celladon Corp. Suspends R&D, May Liquidate

Drug developer Celladon Corp. announced that it will suspend all research and development activities.

Ex-Qualcomm Exec Is Sentenced to Prison

LEGAL: Jing Wang Pleaded Guilty to Insider Trading

A federal judge sentenced a former Qualcomm Inc. executive to 18 months in prison and fined him $500,000 for acting on insider information to profit from stock trades and then trying to cover up the incidents.

Mandatory Sick Leave Now the Law in the State

California employers are now required to give part-time and full-time workers at least three days of paid sick leave each year, after one of the country’s first statewide mandatory sick leave laws took effect July 1.

Water Issues: Our Cup Runneth Over

Water is everywhere, at least as a topic of discussion.

Payday Lending Deals With Change

FINANCE: Growth Slows; New Regulation Considered

California payday lenders are seeing more customers and doing more business than ever, even as the industry’s growth rate has slowed substantially since 2010, state regulators said last month.

Robotics Fills Key Role in Pharmacy

MEDICINE: System Brings Better Packaging, Tracking

Robots designed and built by a San Marcos manufacturer using a proprietary technology are challenging multibillion-dollar pharmacy automation companies in Asia.

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FLIGHT PLAN

TECH: Peregrine Expects To Add About 100 Positions As New Owner Takes Over

Ever since Murata Manufacturing Co. Ltd. acquired San Diego’s Peregrine Semiconductor Corp., a larger portion of CEO Jim Cable’s day has been spent chasing away employee anxieties.

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Nominations Open for the 2015 Healthcare Champions Awards

The San Diego Business Journal is now accepting nominations for the 2015 Healthcare Champions Awards, which honors individuals within the San Diego community who have demonstrated exceptional leadership and innovation in the rapidly changing healthcare industry.

Navy Awards $75M Contract to Huntington Ingalls to Repair Aircraft Carriers

The Pentagon inked a two-year contract with Huntington Ingalls Inc. to provide ship repair support for two U.S. Navy aircraft carriers, the USS Nimitz and the USS Carl Vinson. One-fourth of the work is expected to go to San Diego, with the balance to Bremerton, Wash.

California Economic Activity Index Shows Slight Increase for April

Comerica Bank’s California Economic Activity Index improved in April, increasing 0.7 of a percentage point to a level of 119.7, the bank said.

Acculitx Receives $1 Million in Series A Funding

Acculitx, formerly known as Fleet Matrix, said on June 30 that it received $1 million in series A funding.

Architects Named for $250 Million Downtown Project

Zephyr Partners recently named the lead building design and landscape architects for The Block, a $250 million downtown mixed-use project announced last year by the San Diego-based developer.

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Wednesday, July 1

15 Companies Each Awarded $10,000 MetroConnect Prize

Fifteen San Diego companies received $10,000 each on Wednesday from the San Diego Regional Economic Development Corp., part of a JPMorgan Chase & Co.-backed initiative to boost the area’s international exports.

MTS Receives $31.9 Million for New Courthouse Trolley Station, Light-Rail Vehicles

The San Diego Metropolitan Transit System (MTS) has been awarded $31.9 million from the Transit and Intercity Rail Capital Program (TIRCP).

HomeFed Closes $125 Million Private Placement

Carlsbad-based HomeFed Corp., real estate investment and development firm, announced that it has successfully closed a private placement of $125 million of 6.50 percent senior notes due 2018.

GO-Biz Launches Business Portal

The Governor’s Office of Business and Economic Development (GO-Biz) announced the launch of the California Business Portal, a one-stop-shop website (www.BusinessPortal.ca.gov) for business owners looking for information and assistance.

Office Tower at Aventine Sells for $150 Million

An affiliate of Boston-based Rockpoint Group LLC has purchased the Aventine office building in La Jolla for approximately $150 million, according to CoStar Group and public data.

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Local Delegation Heading to Philippines to Promote Trade

The Philippine Honorary Consul of San Diego, Audie J. de Castro, will head a San Diego delegation of government officials and business executives on an economic mission to the Philippines from July 6-10.

Vintage Sign Removed for Renovation of Hotel Churchill

Workers recently removed a 1940s-era neon sign from atop the historic Hotel Churchill in downtown San Diego, which is being converted into affordable apartments in a $20.5 million renovation by the San Diego Housing Commission.

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