Stories for May 2015

Sunday, May 31

U.S. Navy's $13.4 Million Contract Benefits Kratos Defense

Kratos Defense & Security Solutions Inc. said on May 29 that one of its divisions is part of Saalex Solutions Inc.’s $13.4 million U.S. Navy contract to provide services at the Pacific Missile Range Facility.

San Diego County Credit Union Hires Michael Corpuz as Senior VP

The San Diego County Credit Union, the largest locally-owned financial institution, has named Michael Corpuz its senior vice president of business lending.

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Clinic for Special Children to Collaborate with Cypher Genomics

San Diego-based Cypher Genomics Inc., a genome informatics company, and the Clinic for Special Children announced a collaboration in which Cypher's automated genomic interpretation tools will be used for the diagnosis of rare genetic diseases among a specific population.

Viking Underwriters Exercise Option to Purchase Additional Shares

Viking Therapeutics Inc., a clinical-stage biopharmaceutical company, announced Friday that the underwriters for its recent initial public offering have exercised their option to purchase from Viking an additional 450,000 shares at the initial offering price to the public of $8 per share.

The Business Calendar for the Week of June 1, 2015

Some of the business events planned in the county for the week of June, 1, 2015, and beyond.

SDSU vs. USD Basketball Game to be Played at Petco Park

Petco Park will host its first basketball game this winter, the San Diego Padres said Friday, with San Diego State University and University of San Diego teams facing off at an outdoor court built on the baseball stadium’s infield.

Pasha Group Completes Acquisition of Horizon Lines Business

The Pasha Group announced the acquisition of the Hawaii trade-lane business of Horizon Lines Inc. has been completed.

General Dynamics NASSCO Unveils Energy-Saving Lighting System

General Dynamics NASSCO unveiled one of the largest controlled exterior lighting systems for a manufacturing site on May 29 at its Barrio Logan shipyard.

Friday, May 29

General Dynamics NASSCO Unveils Energy-Saving Lighting System

General Dynamics NASSCO unveiled one of the largest controlled exterior lighting systems for a manufacturing site on May 29 at its Barrio Logan shipyard.

Kensington’s Old California Charms Shine in the Sunlight

Kensington. The name conjures images of a quaint village in West London that is home to Kensington Palace and world-famous gardens. The neighborhood of Kensington in San Diego is just as charming, in a California sort of way, as its namesake in England.

Six Women Honored for Their Role In Educating, Inspiring

Karen Haynes, president of California State University San Marcos, was one of six California State University women presidents recognized for their outstanding leadership at the Leadership California Awards Ceremony.

Green Features Give ICE an Energy-Saving Edge in Cold Storage

WAREHOUSE: It Also Benefits From Advances in Freezing

For fresh fruit smoothies in the dead of winter or enough hamburger patties to meet the demand for summer barbeques, food companies are increasingly turning to Otay Mesa-based Innovative Cold Storage Enterprises Inc. to store millions of pounds of frozen food year-round.

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Kratos Defense Division Shares $13.4 Million Navy Contract

Kratos Defense & Security Solutions Inc. said on May 29 that one of its divisions is part of Saalex Solutions Inc.’s $13.4 million U.S. Navy contract to provide services at the Pacific Missile Range Facility.

Ready to Take Flight

$1 Billion Master Plan for Brown Field Seen as Catalyst for Border Region

A local development group plans to break ground this December on Metropolitan Airpark at Brown Field Municipal Airport in Otay Mesa, a long-discussed project expected to bring more than $1 billion in aviation and other commercial improvements to the border region over the next 20 years.

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Michael Corpuz Joins San Diego County Credit Union as Senior VP

The San Diego County Credit Union, the largest locally-owned financial institution, has named Michael Corpuz its senior vice president of business lending.

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Assistant Navy Secretary’s Visit Drew a Crowd of Contractors

He came, he saw, he networked. The hot ticket in defense contracting circles in late May was the invitation-only reception for Sean Stackley, the assistant U.S. Navy secretary overseeing procurement and new technology (Stackley’s actual title is assistant secretary of the Navy for research, development and acquisition). SDMAC, the San Diego Military Advisory Council, coordinated the reception.

Cypher Genomics to Partner With Clinic for Special Children

San Diego-based Cypher Genomics Inc., a genome informatics company, and the Clinic for Special Children announced a collaboration in which Cypher's automated genomic interpretation tools will be used for the diagnosis of rare genetic diseases among a specific population.

Executive Q&A: Mary Ann McGarry of Guild Mortgage Co.

Stacks of three popular reference books crowd the shelf in CEO Mary Ann McGarry’s office at Guild Mortgage Co.. There are nearly 50 copies each of Stephen King’s “On Writing: A Memoir of the Craft,” The Associated Press’ Stylebook and the E.B. White and William Strunk Jr. classic “The Elements of Style.”

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Search Optics Drives Success Through Mobile Approach

TECH: Company Is Expanding From Autos into Hospitality

Search Optics President and Founder Troy Smith says the way to build a successful digital marketing company is by consistently delivering positive results for your clients, all the way to the point of purchase.

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Renovation Brings Entertaining Pairing to the Pala Lineup

GAMING: Wine Cave And Concert Venue Are Part of $5M Project

Pala Casino Spa & Resort sees potential in what several rural California counties have long banked on: wine.

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Company’s Photo Verify May Give Consumers License to Transact

SOFTWARE: Verification Of Driver’s Licenses Opens Up Mobile Possibilities

Mitek Systems Inc., the company that got people to start depositing bank checks with their smartphones, has something new to show the world.

Shareholders Re-Elect the Kratos Board

Shareholders of Kratos Defense & Security Solutions Inc. re-elected the company’s board and approved an advisory measure on executive compensation during the company’s annual meeting May 20.

National University Receives $20M Donation

EDUCATION: Gift To Support Sanford Center Programs

National University announced an anonymous $20 million gift for the national expansion of the Sanford Education Programs.

Gregory Lucier Named CEO at NuVasive Inc.

BIOTECH: He Served As Life Technologies’ CEO for Many Years

NuVasive, Inc., a leading medical device company focused on transforming spine surgery with minimally invasive solutions, announced that Gregory T. Lucier has been appointed chief executive officer, effective immediately.

Gonzalez Could Have Big Impact On State Politics

The state Assembly recently passed Lorena Gonzalez’s bill to protect grocery workers from being fired because of changes in ownership. Assembly Bill 359 protects grocery workers in stores of at least 15,000 square feet from being fired during a 90-day ownership transition. It also provides less onerous stipulations for longer term employment.

Pasha Group Completes Acquisition of the Hawaii Trade-Lane Business of Horizon Lines

The Pasha Group announced the acquisition of the Hawaii trade-lane business of Horizon Lines Inc. has been completed.

Business Calendar for Week of June 1, 2015

Some of the business events planned for the week of June 1, 2015, and beyond.

Confidentiality Vital For Recovery Center

HEALTH: First Responders Bring Big Privacy Issues

When Scott Silverman looked for a drug treatment facility after years of addiction, the demographics of his fellow patients was not a pressing concern.

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Sector Shifts as Biofuel Is Running Out of Gas

BIOTECH: Food Products, Supplements Are Options

Let’s be honest, biofuel was a bit of a bust.

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Cos. Go to Work in Supporting Troops

DEFENSE: Veterans Get Employment Guidance

As a Fortune 500 company serving a demanding market, Qualcomm Inc. has found that to get maximum impact, it has to fine-tune its products, or even release various generations of a product. It’s what engineering companies do.

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A FARM TEAM

DRUGS: Sorrento’s Sales Strategy Plays to Its Small Pharma Strengths

Sorrento Therapeutics, a frequent partner of billionaire biotech entrepreneur Patrick Soon-Shiong, has sold its potential cancer treatment in a deal worth up to $1.3 billion.

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Petco Park to Host SDSU vs. USD Basketball Game

Petco Park will host its first basketball game this winter, the San Diego Padres said Friday, with San Diego State University and University of San Diego teams facing off at an outdoor court built on the baseball stadium’s infield.

Viking Therapeutics Says IPO Underwriters Purchasing Extra Shares

Viking Therapeutics Inc., a clinical-stage biopharmaceutical company, announced Friday that the underwriters for its recent initial public offering have exercised their option to purchase from Viking an additional 450,000 shares at the initial offering price to the public of $8 per share.

Thursday, May 28

Japanese IT Business Donates $300K to UCSD

Broadband Tower Inc., a Japanese information technology business, has donated $300,000 to the University of California, San Diego’s School of Global Policy and Strategy to establish a Japan Forum for Innovation and Technology.

Qualcomm, TechStars Select 10 Robotics Companies for Accelerator

Qualcomm Inc. and TechStars named the 10 robotics companies selected to take up residence in newly remodeled space at the Qualcomm headquarters on Sorrento Mesa on May 28.

Housing Prices Rose 4.8 Percent Over Last Year, Index Shows

San Diego home prices rose 4.8 percent in the year since March 2014, according to a national index measuring housing prices, barely less than the 5 percent increase seen across the country’s 20 largest cities and nudging out the 4.7 percent growth reported for February.

Jack Lief to Step Down from Mast Therapeutics' Board

Mast Therapeutics Inc., a biopharmaceutical company in San Diego, announced Thursday that Jack Lief will be resigning from the company's board of directors.

Freedom Meditech Inc. Appoints John Gerace CEO

Medical-device maker Freedom Meditech Inc. announced Thursday that it has appointed John Gerace, most recently of Life Technologies, as its chief executive officer and a member of the company's board of directors.

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Wednesday, May 27

Eric Redman Rejoins Neology, Named VP of U.S. Sales

Poway-based Neology, a subsidiary of RFID industry pacesetter SMARTRAC, has appointed Eric Redman as vice president of U.S. sales and marketing.

InfoSonics Corp. Files Shelf Registration

InfoSonics Corp. filed a shelf registration as a preliminary step to selling up to $25 million of additional stock or warrants, the business said in a May 27 securities filing.

Carlsbad-Based Nexternal Acquired by HighJump

Carlsbad-based Nexternal, a cloud eCommerce platform provider, has been acquired by HighJump, a global provider of supply chain management solutions, Software Equity Group announced.

Bastyr University Names Powell Its New President

Bastyr University announced the selection of Charles “Mac” Powell as its new president. He will oversee the university’s campuses and clinics located in San Diego and Washington state.

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California Economic Activity Index Dips Slightly in March

Comerica Bank’s California Economic Activity Index declined in March, decreasing 0.6 of a percentage point to a level of 118.8, Comerica said.

Foreclosure Rate Dips Slightly in March

San Diego foreclosure rates fell one-tenth of a percentage point in March compared to last year, with 0.42 percent of outstanding mortgage loans foreclosing, according to CoreLogic.

Zogenix Hopes to Use Obesity Drug to Fight Childhood Seizures

San Diego drugmaker Zogenix said Wednesday that a drug once used to fight obesity before it was taken off the market may help treat a rare disease that causes severe seizures in young children.

National University Receives $20M Donation to Support Sanford Education Programs

National University announced an anonymous $20 million gift for the national expansion of the Sanford Education Programs. The gift — the largest in the university’s history — combined with a 50 percent matching contribution of $10 million from National University, raises the total amount dedicated to initiatives that support PreK-12 student learning and development to $30 million.

Tuesday, May 26

Sound United Moves Some Operations to West Coast

Audio company Sound United, a division of DEI Holdings, has moved several operations from its Baltimore location to its facility in Vista.

Pathfinder Partners Closes Sales of Multifamily Properties for $16.2 Million

San Diego-based Pathfinder Partners LLC, specializing in real estate investments, announced it completed the sales of an $8.7 million, 96-unit apartment property in Phoenix and a 78-unit apartment community in Seattle for $7.5 million.

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Japanese Firm First to Use Qualcomm's Sense ID Platform

NTT DOCOMO Inc., Japan’s largest mobile telecom carrier, will be the first to use Qualcomm Inc.’s Sense ID biometrics platform, Qualcomm said on May 25.

Cubic Corp. Gets $5.5 Million Contract with Canadian Army

Cubic Corp. has announced a contract with the Canadian army valued at more than $5.5 million.

Boost Academy Closes $600K Seed Round of Financing

Boost Academy, Inc., developer of an interactive math tutoring platform for the iPad, announced that it has successfully closed a $600,000 seed round of financing.

IBM VP Joins Grant Thornton's San Diego Office

Chicago-based tax and advisory firm Grant Thornton LLP said Tuesday it was adding a former IBM vice president to its San Diego office as a principal in its advisory practice.

Kilroy Announces Compromise With Community Groups on One Paseo Project

Kilroy Realty Corp. and three community groups announced that they have reached a compromise that allows a scaled-down version of the One Paseo mixed-used development project to move forward.

Corporate Wellness Symposium Being Held May 27

Deepak Chopra, the well-known alternative medicine practitioner, is launching the 2015 Corporate Wellness Symposium, a day-long seminar for HR executives and wellness practitioners in Carlsbad on May 27 at the LaCosta Resort and Spa.

Gregory Lucier Named Permanent CEO at NuVasive

NuVasive, Inc., a leading medical device company, announced that Gregory T. Lucier has been appointed chief executive officer, effective immediately. Lucier has been serving as interim CEO since April and will continue as chairman of the NuVasive board of directors.

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Monday, May 25

County Unemployment Rate Is Lowest Since 2007

San Diego’s unemployment rate fell to 4.8 percent in April, the lowest since December 2007, according to California Employment Development Department figures released on April 22, below the California unemployment rate of 6.3 percent and the national rate of 5.1 percent.

Kratos Shareholders Re-Elect Board, Pass Advisory Measure on Executive Compensation

Shareholders of Kratos Defense & Security Solutions Inc. re-elected the company’s board and approved an advisory measure on executive compensation during the company’s annual meeting May 20.

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The Business Calendar for the Week of May 25, 2015

Some of the business events planned for the week of May 25, 2015, and beyond.

Tribune Publishing Co. Completes Acquisition of U-T San Diego

Tribune Publishing Co. recently announced that it has completed the acquisition of MLIM LLC, owner of the San Diego Union-Tribune, as well as nine community weeklies and related digital properties in San Diego County.

Poway Hotel Property Sells for $4.5 Million

MNC Hospitality Inc. of Los Angeles has purchased the 43-room Best Western Country Inn hotel in Poway for $4.5 million, according to CoStar Group and public data.

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Hillcrest Retail Building Brings $2.38 Million

Ohio Street Villas Group LLC has purchased a Hillcrest retail building for approximately $2.38 million, with plans to renovate it for retail, restaurant and office uses, according to brokerage company Colliers International.

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Bankers Hill Office Building Sells for $2.97 Million

Penhun Limited Partnership and the Cohen Family Trust recently purchased the Park West Square office property in Bankers Hill for approximately $2.97 million, according to brokerage company Marcus & Millichap Inc.

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Friday, May 22

We Need That Ding to Feel Connected, Important

My search of the phrase “work/life balance” showed it was first used in the United Kingdom sometime in the 1970s.

Commercial Real Estate Makes Some Gains in the County

PROPERTY: South And North Counties See Industrial Demand

Conditions vary by neighborhood, but rising tenant and investor demand in an improving economy continues to move fundamentals generally in favor of commercial real estate landlords in San Diego County.

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Finding a Better Way

PROPERTY: The I-15 Corridor Gives Businesses Access to Favorable and Employee Friendly Locations

San Diego’s Interstate 15 corridor has quietly emerged as a major center of office leasing, office purchase and office development for numerous industries, due in part to the area’s relatively lower housing prices and easier commutes.

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Spanos Sons Take Control Of Chargers

Dean Spanos, owner of the San Diego Chargers, announced that his two sons will be the football teams new presidents.

Denny Sanford Dedicates San Diego Zoo Kids Channel Theatre

With children and animal ambassadors looking on, philanthropist Denny Sanford unveiled the new San Diego Zoo Kids Channel Theatre. The theatre, located at the Zoo’s Elephant Odyssey habitat, allows guests to enjoy the broadcast programming currently available at 10 children’s hospitals and Ronald McDonald Houses across the U.S.

Local Company Tapped to Feed Need for Fast-Food Software

Tillster has chosen San Diego-based Gimbal Inc. to soup up its software for fast-food and casual dining restaurants. Financial terms of the partnership were not disclosed.

Council Repeals Approval of One Paseo Project

PROPERTY: Lightner Calls for Compromise On Less-Dense Version

San Diego City Council has voted unanimously to repeal its February approval of the controversial One Paseo mixed-use project in Carmel Valley, as developer Kilroy Realty Corp. and community opponents work out details on a scaled-down version that officials can review at a later date.

County Unemployment Rate Drops to 4.8%

San Diego’s unemployment rate fell to 4.8 percent in April, the lowest since December 2007, according to California Employment Development Department figures released on April 22, below the California unemployment rate of 6.3 percent and the national rate of 5.1 percent.

TakeLessons’ Business Model Is to Keep Learning What Works

TECH: From Fee Change to Amazon Deal, Co. Is Flexible

TakeLessons.com launched in 2007 as a way for music teachers to find students and offer classes at their studios or homes.

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Developer’s Optimism in Downtown Builds at Least 41 Stories

PROPERTY: Second Condo Tower Is Also Planned for Nearby

There’s no sign yet of a return to the early-2000s boom times for downtown San Diego’s high-rise condominium construction market.

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Cos. Don’t Have to Pull the Plug After Clinical Trial Failures

MEDICINE: They Can Make Aggressive Cuts, Pursue Other Avenues

Those in the science business must learn to roll with the punches when clinical trials flop, especially when the companies are public, and the failures are broadcast on a global stage, industry veterans said.

Online Directory Gives Patients Medical Menu With Cash Prices

SOFTWARE: Service Also Streamlines the Appointment Process

Ajit Viswanathan thinks he sees an opening on the fast-changing playing field of health care.

Eli Lilly to Collaborate With Institute

Sanford-Burnham Medical Research Institute will collaborate with Eli Lilly and Co. to develop immunological therapies, the companies announced.

Water Restrictions a Concern for Manufacturers

PRODUCTION: Local Survey Finds Other Sectors Less Affected

San Diego businesses remained generally optimistic in April, according to a survey from the San Diego Regional Chamber of Commerce, though nearly half of manufacturers polled predicted that impending water use restrictions would cause them to lose revenue or cut jobs.

Think Tank: Task Force Makes Strong Case

SPORTS: Chargers to Review the Options For $1.1B Stadium

A mayoral task force’s recently announced plan to finance a new $1.1 billion San Diego Chargers stadium makes a compelling case for the Mission Valley site, but raises questions regarding long-term maintenance costs, according to an analysis by National University System Institute for Policy Research.

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New Law Will Come as Unpleasant Surprise to Many

The indirect costs of water and the drought will become clearer to San Diego County businesses.

TakeLessons’ Business Model Is to Keep Learning What Works

TECH: From Fee Change to Amazon Deal, Co. Is Flexible

TakeLessons.com launched in 2007 as a way for music teachers to find students and offer classes at their studios or homes.

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Luxury Cinemas Try to Make You an Offer You Can’t Refuse

THEATER: Local Opening Part of Trend Of High-End Amenities

San Diego County movie theaters are increasingly going upscale, with operator Reading International Inc. joining the fray by converting its Carmel Mountain Ranch location to an affiliated luxury brand known as Angelika Film Center & Café.

Company Buys Pieces Of Home Equity Pie

FINANCE: Appreciation Is Determining Factor in Profits

Homeowners with most of their equity tied up in their house often turn to home equity lines of credit or reverse mortgages to get cash for retirement, start new businesses or do expensive renovations.

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Training Platform Lets User Plot Course

TECH: Vforum’s Versatility, Vigilance Are Selling Points

It was originally meant for sailors at sea, but some locally developed video training technology has left the confines of the big gray ship.

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Visa Cap May Blunt Competitive Edge

WORKFORCE: Critics Say Program Undercuts Citizens

The growing demand for highly skilled foreign workers in biotech and information technology is rekindling debate about the motivation driving companies to hire foreign talent.

Project Blueprint Is Predominantly Green

PROPERTY: Development, Preservation Included in Plan

Carlsbad voters could eventually be deciding the fate of plans to turn 203 acres near Interstate 5 of former strawberry fields into an open-space preserve with retail elements.

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Tribune Publishing Announces Completion of The San Diego Union-Tribune Acquisition

Tribune Publishing Co. recently announced that it has completed the acquisition of MLIM LLC, owner of the San Diego Union-Tribune, as well as nine community weeklies and related digital properties in San Diego County.

THE TRADES DEFICIT

EDUCATION: College’s Programs Try to Provide A Skilled Workforce

Six students huddled around a set of small boxes in a dark MiraCosta College classroom. Each of the boxes projected a rainbow of light, part of an optics lab to train potential engineers.

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Bankers Hill Office Building Sells for $2.97M

Penhun Limited Partnership and the Cohen Family Trust recently purchased the Park West Square office property in Bankers Hill for approximately $2.97 million, according to brokerage company Marcus & Millichap Inc.

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Hillcrest Retail Building Sells for $2.38M

Ohio Street Villas Group LLC has purchased a Hillcrest retail building for approximately $2.38 million, with plans to renovate it for retail, restaurant and office uses, according to brokerage company Colliers International.

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Poway Hotel Property Sells for $4.5M

MNC Hospitality Inc. of Los Angeles has purchased the 43-room Best Western Country Inn hotel in Poway for $4.5 million, according to CoStar Group and public data.

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Business Calendar for the Week of May 25, 2015

Some of the business events planned in the county for the week of May 25, 2015, and beyond.

Thursday, May 21

City Council Repeals Approval of One Paseo Project

San Diego City Council has voted unanimously to repeal its February approval of the controversial One Paseo mixed-use project in Carmel Valley, as developer Kilroy Realty Corp. and community opponents work out details on a scaled-down version that officials can review at a later date.

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San Diego County Employee Retirement Association Names Sexauer to Chief Investment Officer Role

The San Diego County Employee Retirement Association, which oversees a $10.6 billion pension fund for about 40,000 members, said May 21 it was appointing a chief investment officer to take over from Salient Partners, the group’s current portfolio manager.

Foundry Medical Innovations Merging With Zeis to Become Toolbox Medical Innovations

Foundry Medical Innovations, a medical and diagnostic device development company in Carlsbad, has merged with Zeis Consulting Group, an IVD clinical research firm.

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Ballpark Village Development Site sold for $32.3 Million

An affiliate of Charleston, S.C.-based Greystar Real Estate Partners recently paid approximately $32.3 million for a 1.4-acre land parcel where work is currently underway on the first phase of the mixed-use Ballpark Village apartment project, in downtown San Diego’s East Village.

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Little Italy Apartment Site Sells for $12.8 Million

Lennar Multifamily Communities LLC has acquired a site in downtown San Diego’s Little Italy for $12.8 million, with plans to develop a high-rise apartment project, according to brokerage company Colliers International.

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Cidara Therapeutics Reports Q1 Results

Cidara Therapeutics Inc. reported May 21 a net loss of $6.7 million for the first quarter of 2015, up from a net loss of $707,000 in the same quarter of last year.

Pacific Beach Apartments Purchased for $7.8 Million

Investor Yuan Shen of San Diego has acquired a 32-unit Pacific Beach apartment property for approximately $7.8 million, according to brokerage company South Coast Commercial Inc.

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GA ASI Receives $23.1 Million Air Force Contract

The U.S. Air Force has awarded General Atomics Aeronautical Systems Inc. a second contract in as many days, this time to help improve sensor systems on its Reaper unmanned aircraft.

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Mission Fed CEO Debra Schwartz to Serve Additional Term on Board of National Association of Federal Credit Unions

Mission Federal Credit Union CEO Debra Schwartz will serve an additional three-year term on the board of directors for the national credit union trade group, the association said.

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UCSD's Rady School to Offer Course on on Fostering Workplace Compassion, Improving Mental Intelligence

The University of California San Diego said its management school will offer a “Mindful Executive” program, a nondegree course series to mentor business leaders on fostering workplace compassion, improving mental intelligence and dealing with difficult conversations.

Wednesday, May 20

ViaSat Reports Q4 Net Income of $7.5 Million

ViaSat Inc. reported net income of $7.5 million on revenues of $364.8 million during the last quarter of its 2015 fiscal year, which ended April 3.

San Diego County Credit Unions Report $9.65B in Loans

San Diego County credit unions reported a collective $9.65 billion worth of loans, a 20 percent jump between April 2014 and March 2015, according to a new survey from the California Credit Union League.

Encinitas Office Property Sold for $8.5 Million

SR Commercial of Solana Beach has purchased an Encinitas office property for $8.5 million, according to the seller, San Diego-based Westcore Properties.

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La Jolla-based Casual Apparel Brand Acquired by LA Company

La Jolla-based Everyday California, a casual apparel lifestyle brand, has been acquired by Cherokee Global Brands which is making an effort to expand its portfolio.

Lpath to Cut Jobs After Eye Drug Fails Study

San Diego drug developer Lpath Inc. said it would cut jobs and costs after its experimental eye drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly.

Air Force Orders 8 More Reapers from General Atomics

The U.S. Air Force ordered eight additional Reaper aircraft from General Atomics Aeronautical Systems Inc., the Pentagon announced on May 20.

Companion Medical Completes Series B Financing

Companion Medical Inc., a medical device company in San Diego, has announced the completion of a series B financing, led by an investment from Eli Lilly and Co.

Think Tank: Stadium Task Force Makes Strong Case

A mayoral task force’s recently announced plan to finance a new $1.1 billion San Diego Chargers stadium makes a compelling case for the Mission Valley site, but raises questions regarding long-term maintenance costs, according to an analysis by National University System Institute for Policy Research.

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Tuesday, May 19

Tandem Diabetes Announces That Its t:flex Insulin Pump Is on the Market

Tandem Diabetes Care Inc., a medical device company in San Diego, announced Tuesday that its t:flex Insulin Pump is on the market, with shipments planned in June.

Midway Retail Center Sells for $6.2 Million

unset Waste Holdings LLC has purchased the Midway Village retail center, in San Diego’s Midway district near Point Loma, for $6.2 million, according to brokerage company The Heritage Group.

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Kearny Mesa Medical Office Building Sells for $4.63 Million

Locally based REAlliance LLC has purchased a Kearny Mesa medical office building for $4.63 million, according to brokerage company JLL.

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Sevion Therapeutics Raises $3.02 Million in Equity Financing

Sevion Therapeutics Inc., a biopharmaceutical company developing therapies for cancer and immunological diseases, has raised $3.02 million in equity financing according to a recent statement filed with the Securities and Exchange Commission.

H.G. Fenton Completes Solar Upgrade of Mission Valley Apartments

San Diego’s H.G. Fenton Co. recently completed a solar upgrade of its 254-unit Aquatera apartment community in Mission Valley, making it the developer’s second net-zero residential project in the local market.

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Cubic Completes $1.25 Million Foreign Military Sale

Cubic Corp. said on May 19 that its defense business completed a $1.25 million foreign military sale to the Lebanese armed forces.

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Peregrine Semiconductor Promotes Colin Hunt to VP of Worldwide Sales

Peregrine Semiconductor Corp. said on May 19 that it promoted Colin Hunt to vice president of worldwide sales.

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Monday, May 18

KOAM Engineering Awarded $61.8 Million Navy Contract

The U.S. Navy awarded a San Diego small business a three-year, $61.8 million contract to provide technical expertise to its Network Integration Engineering Facility.

District Launches the Park Hillcrest Lunch Loop

The Uptown Community Parking District has partnered with the UC San Diego Health System and the Hillcrest Business Association to pilot a project that aims to shift the demand for parking spaces during weekday lunch hours.

Dean Spanos Transfers Day-to-Day Control of Chargers to Sons

Dean Spanos, owner of the San Diego Chargers, announced that his two sons will be the football team's new presidents.

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Cubic Corp. Reports Q2 Net Loss of $11 Million

Cubic Corp. reported a second quarter net loss of $11 million on net sales of $338.8 million during its second quarter, which ended March 31. The company reported net income of $16.1 million on net sales of $354.4 million in the quarter ending March 31, 2014.

Advisory Group Presents Options for $1.1 Billion Chargers Stadium

The mayor’s Citizens’ Stadium Advisory Group has outlined a multi-point plan to finance the expected cost of a new $1.1 billion San Diego Chargers stadium, which task force leaders said would involve no new tax dollars.

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Fate Therapeutics Announces Proposed Public Offering of Common Stock

Fate Therapeutics, Inc., a biopharmaceutical company engaged in the development of programmed cellular therapeutics for the treatment of severe, life-threatening diseases, announced that it has commenced an underwritten public offering of 6 million shares of its common stock.

Otonomy Appoints Eric Loumeau as General Counsel and Chief Compliance Officer

Otonomy, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the inner and middle ear, announced the appointment of Eric Loumeau as general counsel and chief compliance officer.

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BioMed Realty Trust Buys UTC Office Campus for $83.8 Million

San Diego-based BioMed Realty Trust Inc. has acquired the Towne Centre Technology Park office campus in University Towne Center for $83.8 million, the company announced.

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Sunday, May 17

Sorrento Therapeutics Sells Subsidiary and Cancer Drug in Deal Potentially Worth $1.3 Billion

In a deal potentially worth up to $1.3 billion, San Diego’s Sorrento Therapeutics has sold the rights to its proposed cancer treatment Cynviloq, as well as the wholly owned subsidiary that was developing the drug, to Illinois-based NantPharma.

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Senior Services Provider Debuting $43 Million Apartment Community

St. Paul’s Senior Services plans a June 2 opening for St. Paul’s Plaza, a new $43 million senior community with 156 apartments in Chula Vista.

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BAE Systems San Diego Ship Repair Gets $37 Million Navy Contract

The U.S. Navy awarded BAE Systems San Diego Ship Repair a $37 million deal to perform shipyard work on the Ticonderoga-class cruiser USS Lake Champlain.

Local Survey Finds Water Restrictions Are a Concern for Many Manufacturers

he outlook for San Diego businesses was largely unchanged in April, according to a largely positive forecast from the San Diego Regional Chamber of Commerce, though nearly half of manufacturers polled predicted that impending water usage restrictions would cause them to lose revenue or cut jobs.

The Business Events Calendar for the Week of May 18, 2015

Some of the business events planned in the county for the week of May 18, 2015, and beyond

Software San Diego Names Carroll to Executive Director Post

Software San Diego has chosen a familiar face in regional technology circles to offer day-to-day leadership to the organization.

Rady School of Management Earns High Marks in Ranking By The Economist

The Rady School of Management at University of California, San Diego, has been ranked 1st in San Diego, 2nd in California and 33rd globally for its Executive MBA (EMBA) program by The Economist magazine.

Friday, May 15

Stop Fast-Track Authority for Trans-Pacific Deal

While the first Trade Promotion Authority cloture vote to place a 30-hour time limit on consideration of the bill failed in the Senate last Tuesday, the second vote passed on Thursday.

In Oceanside, Hear the Waves Break Without Breaking the Bank

If you haven’t been to Oceanside lately it’s time to take a trip to check it out.

Small Business Adds Up for Outsourcing Accounting Firms

FINANCE: Local Cos. On Big Growth Curve With Financial Services

As recently as 10 years ago, few companies would give much thought to entrusting their financial services to an outsider.

Campaign to Share the Profession’s Good Side With Community

The San Diego County Bar Association wants us to be civil.

Summer Reading Book Drive Helps Children Open New Worlds

To get more books into the hands of children, United Way of San Diego County has launched its fourth annual Summer Reading Book Drive through May, providing bilingual summer reading for economically disadvantaged San Diego children up to age 8.

Knowledge-Based Economy

FINANCE: Companies Turn to Consulting Firms For the Expertise Needed to Expand and Thrive

As San Diego businesses reach for international markets, roll out new product lines or get ready to be sold, the accounting management consulting firms that cater to them are experiencing healthy revenues and looking to expand.

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Newspaper Sale Leaves Manchester With Prime Property

If anybody knows the sometimes queasy feelings induced by rapid industry change being faced by some commercial real estate professionals (see the Cushman & Wakefield-DTZ merger), it’s the people in the business rodeo known as the newspaper industry.

Executive Q&A: Kurt Chilcott of CDC Small Business Finance

When Kurt Chilcott thinks about Stone Brewing, he remembers the loan he helped the craft brewer get from the Small Business Administration to create a production facility and restaurant in Escondido.

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New Innovation Space Means Business When Selecting Startups

The Qualcomm Institute is launching a new innovation space at the University of California, San Diego with the capacity to house 15 to 20 seed-stage startups.

There’s Always Something to Grouse About in Spending Bills

What has more moving parts than all of the aircraft parked at Lindbergh Field? Probably the legislation that lets the Pentagon spend money.

NTC Foundation Names General Manager

The NTC Foundation has named Lisa Johnson to be general manager of the NTC Arts & Culture District at Liberty Station.

Isis Brings Big Pharma on Board for Its Antithrombotic Drug

BIOTECH: Deal With Bayer May Be Worth Up to $375 Million

Isis Pharmaceuticals has landed a megadeal with aspirin-maker Bayer AG to move a potential blockbuster drug from the lab to the market.

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ResMed Releases ASV Device Results

Medical device maker ResMed announced that a major clinical trial that sought to show its sleep therapy products protected heart failure patients actually slightly increased the risk of death.

Boutique Movie Theater Opening in San Diego

CINEMA: 12-Screen Theater to Feature Creative Concessions

Angelika Film Center & Café, a boutique-oriented affiliate of Los Angeles-based movie theater operator Reading International Inc., plans to open its first West Coast location at Carmel Mountain Plaza in San Diego.

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DeVry Names Pace President of S.D. Campus

EDUCATION: He Was Campus Director In Tampa Previously

DeVry University announced the appointment of Gregory Pace as president of its San Diego campus.

An Infomercial Could Be In Inventor’s Future

Tara Brown of Pacific Beach is an ophthalmologist, wife and mother of two young children, which makes her mornings quite busy.

Company Is Planning to Open Wi-Fi Door for LTE Data

WIRELESS: Could Improve Security for Internet of Things

People don’t normally mix strings of pearls with tennis shoes when they dress for the day.

Industrial Options Grow in N. County

PROPERTY: Spec Projects Aim to Meet Expected Demand

As the improving economy fills up industrial spaces in central San Diego, local companies such as SR Commercial are betting on continued rising demand in North County for manufacturing, warehousing and distribution properties.

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DTZ, Cushman Deal To Bring Changes

REAL ESTATE: Personnel Duplications Currently Exist

When the parent of commercial brokerage company DTZ took over Cassidy Turley earlier this year, it was tough to discern any local change in the former Cassidy Turley’s business model beyond the new name.

Survey Finds Many Local Manufacturers Expecting Losses From Water Cutbacks

The outlook for San Diego businesses was largely unchanged in April, according to a largely positive forecast from the San Diego Regional Chamber of Commerce, though nearly half of manufacturers polled predicted that impending water usage restrictions would cause them to lose revenue or cut jobs.

Kratos Is Exploring Strategic Alternatives

DEFENSE: Investment Bank Helping Co. Review Business

Directors at Kratos Defense & Security Solutions Inc. are mulling some major changes.

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A ‘TEST MARKET’

BIOTECH: Bioprinter Aims to Give L’Oreal Tissue for Product Testing

Organovo has landed a research partnership with beauty conglomerate L’Oreal to create 3-D bioprinted human skin to test cosmetics.

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Software San Diego Names Kevin Carroll as Its Executive Director

Software San Diego has chosen a familiar face in regional technology circles to offer day-to-day leadership to the organization.

Sorrento Therapeutics Sells Cancer Drug and Subsidiary

In a deal potentially worth up to $1.3 billion, San Diego’s Sorrento Therapeutics has sold the rights to its proposed cancer treatment Cynviloq, as well as the wholly owned subsidiary that was developing the drug, to Illinois-based NantPharma.

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Business Calendar for Week of May 18, 2015

Some of the business events planned in the county for the week of May 18, 2015, and beyond.

Thursday, May 14

Celladon to Cut Staff After Therapy Fails Key Trial

San Diego drug developer Celladon Corp. said it is laying off half of its staff to cut costs after its lead gene therapy to treat heart failure failed a key trial last month.

PICO Holdings Reports Q1 Net Loss of $16.8 Million

PICO Holdings Inc., a diversified holding company based in La Jolla, reported a first quarter net loss of $16.8 million on revenue of $84.7 million. The same quarter last year produced a net loss of $13.2 million on revenue of $61.3 million.

Carlsbad Office Building Sold for $2.65 Million

Arch Investments LLC has purchased a Carlsbad office building housing Grant General Contractors for $2.65 million, according to brokerage company Marcus & Millichap Inc.

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San Diego County Credit Union Reports $6.9B in Assets

San Diego County Credit Union’s total assets grew to $6.9 billion in the quarter ending March 31, a 6 percent increase from the same period last year, the credit union said Thursday in its earnings report.

Cubic Corp. Receives $1.7 Million Contract

Cubic Corp. has a buyer for some of its next-generation military communications gear.

Wilson Cos. Gets Approvals for $190 Million Arizona Development

Douglas Wilson Cos. of San Diego and Hensel Phelps Development LLC have received city entitlement approvals for a $190 million mixed-use project planned for downtown Tempe, Ariz.

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Sanford-Burnham, Eli Lilly Announce Collaboration

San Diego’s research community has attracted a new Big Pharma partner. Sanford-Burnham Medical Research Institute will collaborate with Eli Lilly and Company to develop immunological therapies, the companies announced Thursday.

Wednesday, May 13

Jack in the Box Reports Q2 Net Earnings of $23 Million

Jack in the Box Inc., parent company to its namesake quick-service chain and to the Qdoba Mexican Grill chain, reported net earnings of $23.0 million or 60 cents per diluted share on revenue of $358.1 million during the company’s second quarter, ended April 12.

Local Investment Firm Buys 12 Apartment Properties from Blackstone Group

Strata Equity Group Inc. of San Diego has purchased a 12-property, three-state apartment portfolio from an affiliate of New York-based Blackstone Group, after obtaining approximately $494.8 million in acquisition financing.

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Kearny Mesa Office Campus Sells for $61 Million

Drawbridge Realty LLC of San Francisco has purchased the three-building Spectrum Corporate Center office campus in Kearny Mesa for $61 million, the company announced.

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Lisa Johnson Named General Manager of NTC Arts & Culture District

The NTC Foundation has named Lisa Johnson to be general manager of the NTC Arts & Culture District at Liberty Station.

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Scripps, Sharp to Join Health Information Exchange

Scripps Health and Sharp Healthcare are joining San Diego Health Connect, a substantial boost for the region’s health information exchange that soon will give clinicians access to medical data covering 2.7 million county residents.

Moody's Gives Qualcomm's Proposed Bond Issue Top Rating

Moody’s Investors Service said that it assigned one of its top ratings to Qualcomm Inc.’s proposed bond issue.

Kearny Mesa Industrial Building Purchased for $4.4 Million

A buyer recorded as Winchester Temecula LLC of Anaheim has acquired a Kearny Mesa industrial building for approximately $4.4 million, according to CoStar Group and public data.

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Barrio Logan Buildings Sold for $6.3 Million

Barriohaus LLC of San Diego has purchased three office and warehouse properties in the city’s Barrio Logan neighborhood for a total of $6.3 million, according to CoStar Group and public data.

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ResMed Says Phase 3 Clinical Trial Falls Short

Medical device maker ResMed announced that a major clinical trial that sought to show its sleep therapy products protected heart failure patients actually slightly increased the risk of death.

Tuesday, May 12

LRAD Receives $700,000 in Follow-On Orders

LRAD Corp. of Rancho Bernardo said on May 12 that it received $700,000 in follow-on orders for its model 360X mass notification systems.

Alan Clopine Promoted to CEO at Pure Financial

Pure Financial Advisors Inc., a Mission Valley-based investment managing firm, promoted its CFO and tax planning director Alan Clopine on Tuesday to CEO. The company's founder and current CEO Michael Fenison will step away from most executive responsibilities to work on the firm’s expansion efforts.

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RQ Construction Awarded $45.1 Million Army Contract

Carlsbad-based RQ Construction LLC received a $45.1 million U.S. Army contract for a building project at a base south of Seattle.

Orexigen, Takeda Halt Study of Obesity Drug

San Diego’s Orexigen Therapeutics Inc. and its marketing partner Takeda Pharmaceutical Co. Ltd. on Tuesday abruptly terminated a study into how Orexigen’s Contrave obesity drug might affect the cardiovascular system.

Grocer Haggen Plans More Local Store Openings

Northwest grocery chain Haggen Inc. has scheduled several more openings as it converts and reopens 25 San Diego County locations that formerly housed Albertsons and Vons.

New Boutique Movie Theater Opening in San Diego

Angelika Film Center & Café, a boutique-oriented affiliate of Los Angeles-based movie theater operator Reading International Inc., plans to open its first West Coast location at Carmel Mountain Plaza in San Diego.

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DeVry Appoints President to Lead San Diego Campus

DeVry University announced the appointment of Gregory Pace as president of the San Diego campus.

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Monday, May 11

Cushman & Wakefield, DTZ Merging in $2 Billion Deal

Global commercial real estate services companies Cushman & Wakefield and DTZ have agreed to merge, as DTZ buys Cushman in a deal valued at approximately $2 billion.

Ligand Pharmaceuticals Acquires a Portfolio From Swiss Firm for $4 Million

Ligand Pharmaceuticals Inc. has spent $4 million to acquire a portfolio of more than 15 biologic development programs from Swiss biotech firm Selexis SA, which could provide future milestone and royalty payments.

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Carlsbad Office Building Purchased for $12.2 Million

San Francisco-based Graymark has acquired a Carlsbad office building for $12.2 million, according to commercial brokerage company DTZ.

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Congresswoman Cuts First Steel for Tanker at NASSCO Ceremony

Rep. Susan Davis, D-San Diego, ceremonially cut the first steel for a commercial ship being built at the General Dynamics NASSCO shipyard in Barrio Logan on May 8.

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Cidara Therapeutics Receives Fast-Track Status for Drug Candidate

San Diego-based Cidara Therapeutics Inc. has received fast-track designation from the U.S. Food and Drug Administration for its leading drug candidate for fungal infections.

General Atomics ASI Awarded 2 Defense Contracts

General Atomics Aeronautical Systems Inc., a maker of unmanned aircraft and related electronics, recently received one contract each from its U.S. Army and U.S. Air Force customers.

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Maxwell Technologies Names Lyle CFO and Senior VP

Maxwell Technologies Inc., a developer and manufacturer of energy storage and power delivery solutions, announced that David Lyle has joined the company as senior vice president, chief financial officer, treasurer and secretary.

NoteVault Names 2 to Leadership Roles

NoteVault, a provider of voice-to-text-based mobile reporting solutions for the commercial construction industry, announced the hiring of two executives.

Sunday, May 10

Acadia Pharmaceuticals Inc. Reports Q1 Net Loss of $40.4M

San Diego-based Acadia Pharmaceuticals Inc. reported a net loss of $40.4 million in the first quarter of 2015, more than double the net loss of $17.8 million during the same quarter last year.

Housing Commission Acquires Clairemont Mesa Apartments for $14.7M

he San Diego Housing Commission has acquired the 120-unit Village North Senior Garden Apartments in Clairemont Mesa East for approximately $14.7 million, according to CoStar Group and public data.

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The Business Calendar for the Week of May 11, 2015

Some of the business events planned in the county for the week of May 11, 2015, and beyond.

Vical Inc. Reports Q1 Net Loss of $3.8 Million

San Diego-based Vical Inc. reported a net loss of $3.8 million for the first quarter of 2015, compared with a net loss of $3.5 million in the same quarter the previous year.

The County's Median Home Price Is $520,000 for April

The median sale price of previously owned homes hit $520,000 in April, a six percent increase from last year, according to data from the Greater San Diego Association of Realtors.

Novatel Wireless Names Lance Bridges as Senior VP and General Counsel

Novatel Wireless named Lance Bridges as its senior vice president and general counsel on May 7.

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Imperial Beach Apartment Property Sells for $6 Million

Investor Rodney A. Johnson has acquired the 44-unit Imperial Crest Apartments in Imperial Beach for $6 million, according to brokerage company Apartment Consultants Inc., also known as ACI.

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El Cajon Apartments Acquired for $3.74 Million

Johnson Family Trust has purchased the 22-unit Southwinds Apartments in El Cajon for $3.74 million, according to brokerage company Colliers International.

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Friday, May 8

Vical Reports Q1 Net Loss of $3.8M

San Diego-based Vical Inc. reported a net loss of $3.8 million for the first quarter of 2015, compared with a net loss of $3.5 million in the same quarter the previous year.

Sandag Needs to Be a Trailblazer for Public Transit

The San Diego Association of Governments is in the process of updating its plan for how our region will grow in the coming decades.

The Young Are Not Ready for Working World

Labor force projections estimate 6.3 million job openings in California between 2010 and 2020.

Acadia Pharmaceuticals Reports Q1 Net Loss of $40.4M

San Diego-based Acadia Pharmaceuticals Inc. reported a net loss of $40.4 million in the first quarter of 2015, more than double the net loss of $17.8 million during the same quarter last year.

JFS’ Contributions to Improving Community Health Are Honored

Jewish Family Service of San Diego was recognized by the County of San Diego Health & Human Services Agency at the 14th annual Live Well San Diego Public Health Champion Awards.

UCSD Health System to Partner with El Centro

HEALTH: Hospital In Rancho Mirage Is Also in Talks

UC San Diego Health System and the City of El Centro are entering into an agreement to expand health care services to Imperial Valley, the university announced.

The Boulder and the Beautiful

Perched on a hilltop on the far eastern edge of San Diego County is a one-of-a-kind estate. The home was built by noted San Diego-based Hubbell & Hubbell Architects, experts in environmentally sustainable design practices and technologies.

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Retrofitting and Regulations Are Keeping Lighting Cos. Busy

ENERGY: Lighting Now Must Fit Into Energy Savings Scheme

The need for commercial buildings to cut energy costs is driving rapid growth for San Diego-based Western Light Source and Western Energy Control Solutions.

It’s Dawn for Daybreak Games as It Establishes New Identity

GAMING: New Owner Opens New Possibilities For Former Sony Property

The arrival of new owners was only the first change at San Diego-based Daybreak Game Co. LLC in what is likely to be a memorable year.

15 Companies That Are No Longer Public

(** Numbers indicate the company’s ranking, based on revenue, in the San Diego Business Journal’s 2005 list of the top public companies)

Changing Landscape

Public Cos. Love Us, But Some Still Leave Us

Jack in the Box Inc. began selling hamburgers at a single restaurant on El Cajon Boulevard when Harry Truman was president.

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Pizicato Lets You Do More Than Just Sing Praises of Musicians

Two North County residents have come up with software that functions as a “digital tip jar” for musicians.

Local Retail REITs Reap the Profits of Solid Fundamentals

PROPERTY: Consumer Spending, Lack of New Development Are Pluses

Escondido-headquartered Realty Income Corp. recently made headlines when it joined the prestigious list of large U.S. companies tracked on the S&P 500 index.

Tri-City Buying An Advanced CT Scanner

BIOTECH: Device Can Rapidly Rule Out Cardiac Disease

The Tri-City Healthcare District Board of Directors has approved the purchase and installation of one of the most advanced computed tomography (CT) scanners on the market, enabling its radiologists to make quick and accurate diagnoses for patients.

Discovery May Give Company The Silver Bullet for Biofilm Fight

BIOTECH: Eco-Friendly Discovery Could Have Multiple Applications

Biofilm could be described as a bulletproof vest for bacteria.

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Novatel Reports Q1 Net Loss

Novatel Wireless Inc., the Sorrento Mesa electronics maker, reported a net loss of $7.8 million on net revenues of $53.5 million during the first quarter of 2015.

This Mix of Talent Will Serve Us Well

Lisa Richards and Kathy Koenig, who competed for decades as two of the largest local catering businesses in San Diego, are joining forces. Or shifting forces. Simply put, they are now working together.

Voss Named President of Manchester Subsidiary

TOURISM: Navy Broadway Complex to Be Part of His Focus

Tom Voss has been named as president of Manchester Hospitality Group, a subsidiary of San Diego-based Manchester Financial Group.

Silvergate Bank Reports Q1 Net Income of $1.2M

FINANCE: CEO Touts Strong Growth In Residential Lending

La Jolla-based Silvergate Bank reported first quarter net income of $1.2 million, up from the $943,000 announced during the like quarter last year.

BizAir Lands Spot at McClellan-Palomar

TRAVEL: Airport Aims For 20-Year Master Plan

McClellan-Palomar Airport in Carlsbad recently saw the permanent departure of United Express, but is now awaiting the June arrival of a relatively new carrier known as BizAir Shuttle, which plans to provide regional charter service to Los Angeles.

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Going Public Is Part of the Formula for Success in Life Sciences

FINANCE: End Goal Often Is to Be Bought By Big Pharma

Companies go public for a variety of reasons, the most obvious of which is the need for additional capital.

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The Ten With Staying Power

These Companies Remain Stalwarts in the San Diego Economy

Biocom Sees World Of Opportunities

TRADE: Japan, France Possible Partners for S.D.

Biocom, San Diego’s life sciences trade group, is making inroads in Japan and France in hopes of fueling global collaborations that could connect emerging firms in San Diego with partners abroad.

Animal Stem Cells Get Command: Heal

BIOTECH: Co. Looks to Produce New Pet Therapeutics

Stem cell therapy often is a last resort for pet owners. Desperation — along with the appeal of progressive medicine — has led consumers to pay big bucks for hokey stem cell therapies unsupported by clinical research.

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El Cajon Apartments Acquired for $3.74M

Johnson Family Trust has purchased the 22-unit Southwinds Apartments in El Cajon for $3.74 million, according to brokerage company Colliers International.

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I.B. Apartment Property Sells for $6 Million

Investor Rodney A. Johnson has acquired the 44-unit Imperial Crest Apartments in Imperial Beach for $6 million, according to brokerage company Apartment Consultants Inc., also known as ACI.

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Housing Commission Buys Clairemont Mesa Apartments for $14.7M

The San Diego Housing Commission has acquired the 120-unit Village North Senior Garden Apartments in Clairemont Mesa East for approximately $14.7 million, according to CoStar Group and public data.

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Novatel Names Lance Bridges as Senior VP and General Counsel

Novatel Wireless named Lance Bridges as its senior vice president and general counsel on May 7.

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Median Home Price in County Is $520,000 for April

The median sale price of previously owned homes hit $520,000 in April, a six percent increase from last year, according to data from the Greater San Diego Association of Realtors.

May 10 Is Deadline for Startups to Apply for Plug and Play Accelerator

Startup businesses — specifically technology startups — who want to apply to the next class in San Diego’s Plug and Play accelerator have a May 10 deadline to do so.

Business Events Calendar for Week of May 11, 2015

Some of the business events planned in the county for the week of May 11, 2015, and beyond.

Thursday, May 7

Tribune to Buy U-T San Diego for $85 Million

The owner of the Los Angeles Times on Thursday said it is buying U-T San Diego for $85 million in cash and stock, picking up the U-T’s nine community weeklies but not the paper’s Mission Valley offices.

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Kratos Reports Q1 Net Loss of $16.3M on Revenues of $182.5M

Kratos Defense & Security Solutions Inc. reported a net loss of $16.3 million on revenues of $182.5 million during the first quarter that ended March 29. Publicly traded Kratos (Nasdaq: KTOS) made its announcement on May 7.

LRAD Corp. Reports Q2 Net Income of $291,000

LRAD Corp., the publicly traded maker of high-volume sound equipment for governments and militaries, reported net income of $291,000 on revenues of $4.49 million for its second quarter, which ended March 31.

Solana Beach Firm Buys Industrial Building, Land Parcel in North County

Property investment firm SR Commercial of Solana Beach recently purchased an Escondido industrial building for approximately $8.33 million, and an 11.8-acre Carlsbad industrial land parcel for $6.16 million.

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Bridge Housing Completes 2 Affordable-Apartment Projects in San Diego

Developer Bridge Housing Corp. and its partners recently completed two large affordable-apartment projects in San Diego, totaling 450 units.

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Encore Capital Announces $29.4M in Q1 Net Income

Encore Capital Group, the San Diego-based buyer of defaulted credit card debt, reported record collections and cash flow on Thursday, resulting in first quarter net income of $29.4 million, compared with $23.2 million in the same period last year.

Sequenom Reports Q1 Net Income of $14.3 Million

Sequenom Inc., a life science company providing tools for genetic analysis, reported net earnings of $14.3 million for the first quarter of 2015, compared with a net loss of $15.7 million in the same period last year.

Watkins Landmark Construction Hires New COO

Watkins Landmark Construction of Carlsbad has hired Dennis Dizon as its new vice president of operations and chief operating officer.

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UCSD Health System to Partner with El Centro Hospital

UC San Diego Health System and the City of El Centro are entering into an agreement to expand health care services to Imperial Valley, the university announced.

Wednesday, May 6

Silvergate Bank Reports Q1 Net Income of $1.2 million

La Jolla-based Silvergate Bank reported first quarter net income of $1.2 million, up from the $943,000 announced during the like quarter last year.

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AMN Healthcare Reports 60 Percent Jump in Net Income

San Diego-based AMN Healthcare reported continuing positive financial results, with a 60 percent year-over-year spike in net income.

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San Diego Apartment Building Sold for $2.07 Million

A.J. Holdings LLC has purchased a six-unit apartment complex in San Diego’s Crown Point neighborhood for approximately $2.07 million, according to brokerage company ACRE Investment Real Estate Services.

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Kearny Mesa R&D Building Sells for $2.3 Million

An entity recorded as Dimitry Family Trust 2011 has acquired a Kearny Mesa industrial and office building for approximately $2.3 million, according to CoStar Group and public data.

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Pacific Records to Craft Anthem for San Diego Gulls

The San Diego Gulls, the minor league hockey team affiliated with the Anaheim Ducks, is one step closer to its fall debut as local label Pacific Records on Wednesday said it would create the team’s official anthem.

CyberUnited Forms Joint Venture with LIFARS

San Diego-based CyberUnited and New York-based LIFARS said on May 4 that they formed a security consulting joint venture, CyberUnited LIFARS.

Imperial Beach Apartment Complex Sold for $6.8 Million

An affiliate of Mar Group of Del Mar has purchased a 43-unit Imperial Beach apartment complex for approximately $6.8 million, according to CoStar Group and public data.

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Novatel Reports Q1 Net Loss of $7.8 Million

Novatel Wireless Inc., the Sorrento Mesa electronics maker, reported a net loss of $7.8 million on net revenues of $53.5 million during the first quarter of 2015. That compares with a net loss of nearly $9 million on net revenues of $48.3 million in the same quarter of 2014.

Bond Sales Finalized for Sharp Grossmont Hospital

The Grossmont Healthcare District, a taxpayer-supported public agency that serves as landlord of Sharp Grossmont Hospital in La Mesa, said it recently finalized the sale of two separate series of general obligation bonds, one for $24.5 million and another for $175 million.

Tuesday, May 5

Voss Named President of Manchester Hospitality Group

Tom Voss has been named as president of Manchester Hospitality Group, a subsidiary of San Diego-based Manchester Financial Group.

Sempra Reports Q1 Earnings of $437 Million

Sempra Energy reported first quarter 2015 earnings of $437 million, or $1.74 per diluted share, up from $247 million, or $0.99 per diluted share, in the first quarter of 2014.

Value of Future Construction Projects Down 56 Percent in First Quarter

The value of San Diego County’s contracts for future construction dropped 56 percent from a year ago in the first quarter of 2015, to just over $607.4 million, according to the latest data from Dodge Data & Analytics.

Bridgepoint Announces First Quarter Results

Bridgepoint Education Inc., a San Diego-based provider of postsecondary educational services, reported revenue of $142.5 million for the first quarter of 2015 compared to $157.3 million for the same period in 2014.

American Laboratory Trading Names Becorest to Senior VP Role

American Laboratory Trading Inc., a provider of used lab equipment, named industry veteran Anggie Becorest as its new senior vice president of business development.

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Schubach Aviation to Sponsor San Diego Aviators

Private air charter Schubach Aviation is the newest sponsor of the San Diego Aviators, the city’s professional, coed tennis team, the Carlsbad-based company said Tuesday.

Vista Retail Center Gets New Owner

A buyer recorded as Sycamore Terrace Vista CA LLC has acquired the two-building Sycamore Terrace retail property in Vista, according to CoStar Group and public data.

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Mission Valley Office Building Acquired for $8.1 Million

A buyer recorded as PWI CDRS LP has purchased the Mission View Plaza office building in Mission Valley for $8.1 million, according to brokerage company Colliers International Inc.

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Accelerator EvoNexus Welcomes 26 New Startups

EvoNexus, a technology incubator in San Diego, announced that 26 new startups will be joining the accelerator this week.

San Diego Office Building Sold for $9.27 Million

Investor Paul Meardon of San Diego has acquired an office building near Pacific Beach for approximately $9.27 million, according to brokerage company Marcus & Millichap Inc.

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Monday, May 4

Zirx Launches Valet Service in Three Neighborhoods

Zirx, a venture-backed company that lets a driver use his or her smartphone to summon a valet to park the car, began offering its services in three San Diego neighborhoods on May 4.

Two Firms Complete Merger, Adopt New Name

The merger between a local firm offering marketing advice to investment advisors and a Kansas consulting company targeting the same clients is now complete, and the new San Diego-based company will be known as Kaleido Inc.

NextLevel Internet Hires William Green as COO

NextLevel Internet Inc. said on May 4 that it hired William Green as its chief operating officer.

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Tri-City Medical Center to Buy Advanced CT Scanner

The Tri-City Healthcare District Board of Directors has approved the purchase and installation of the most advanced computed tomography (CT) scanner on the market, enabling its radiologists to make quick and accurate diagnoses for patients.

MiraCosta College Celebrates Its Official Open House for Technology Career Institute

MiraCosta College is set to celebrate the official open house of its Technology Career Institute facility at 2075 Las Palmas Drive in Carlsbad.

Aethlon Medical Withdraws S-1 Registration Statement

Aethlon Medical Inc. announced Monday that it has withdrawn its registration statement on Form S-1 originally filed April 17 with the Securities and Exchange Commission.

Sunday, May 3

ATyr Pharma Plans to Raise Approximately $76M in IPO

ATyr Pharma Inc. is planning to raise approximately $76 million in an IPO May 7th.

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Internet Poker Bill Approved By Assembly Committee Hands Down

A bill that would legalize Internet poker in California passed a state Assembly committee by a 20-0 vote April 27.

First Quarter Revenue Rises at BioMed Realty Trust

BioMed Realty Trust Inc. reported revenue of $178 million for its first quarter ending March 31, up 5.3 percent from the same period of 2014.

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Life Insurer Buys 3 Office Buildings from Kilroy for $95 Million

An affiliate of John Hancock Life Insurance Co. has purchased a three-building portfolio of San Diego office buildings for $95 million, according to CoStar Group and public data.

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General Atomics ASI Awarded $82.7M Army Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a four-year $82.7 million contract for technological support.

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The Business Events Calendar for the Week of May 4, 2015

Some of the business events scheduled in the county for the week of May 4, 2015, and beyond.

Cushman & Wakefield Promotes Brunson Howard to Lead Local Operations

Commercial brokerage and real estate services company Cushman & Wakefield Inc. has promoted Brunson Howard to the post of senior managing director and market leader for the San Diego region.

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AmpliPhi BioSciences Corp. Names M. Scott Salka as CEO

AmpliPhi BioSciences Corp., which develops antibacterial therapies to treat drug resistant infections, has named M. Scott Salka as the new chief executive officer.

Cohu Inc. Announces Q1 Results, and a Quarterly Dividend

Industrial electronics maker Cohu Inc. reported a net loss of $2.7 million on net sales of $68.1 million for the first quarter of 2015.

Friday, May 1

Supporters of SEAL-NSW Family Foundation Raise $1 Million

Philanthropist Madeleine Pickens, Co-Chair Dominique Plewes and The Del Mar Country Club have announced that more than $1 million was raised recently at an event to support the SEAL-NSW Family Foundation.

If These Walls Could Talk, They Would Say, ‘Welcome Home’

Multigenerational housing has gotten a shiny new upgrade and caught the eye of some of San Diego’s most prominent homebuilders.

One Paseo Saga Moving Toward an Election Day Showdown

The February decision to approve the controversial One Paseo mixed-use development in Carmel Valley has boomeranged back to the San Diego City Council after a petition drive by opponents gathered enough signatures to have the project placed before voters, unless the council repeals its approval.

Bill Simon Adds Finance Arrow to His Sizable Quiver

Bill Simon is an attorney who has always looked to provide clients with more than billable time.

Pharma Firms Say Transparency Act Itself Has Big Price Tag

Pharmaceutical companies in California will dodge additional red tape this year as the vote on a controversial health care bill was delayed yet again.

Beverage Management, Marketing Mix Well With Software

SOFTWARE: TapHunter Gives Bars, Restaurants More Flexibility, Exposure

A shrewd entrepreneur relaxing with a late-night brew might see a business plan take shape before his eyes: Why not build a software company around the growing popularity of craft beer?

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Lipkin to Cover Finance, Sports For SDBJ

Michael S. Lipkin has joined the editorial team of the San Diego Business Journal. He will cover a wide range of subjects, including finance, banking, manufacturing, residential real estate, employment and the business of sports.

New Visitors Center Puts Out the Welcome Mat

TOURISM: Facility Will Be Operated By Tour Company

A new waterfront San Diego Visitor Information Center, being operated by locally based Old Town Trolley Tours, recently held its grand opening. The center is at 996 N. Harbor Drive in downtown San Diego.

Chamber Names Haller VP of Membership

BUSINESS: Group Aims to Increase Its Membership

The San Diego Regional Chamber of Commerce has hired Dave Haller to be its vice president of membership.

D.C. Delegation: Don't be Strangers While on the Job

An observation from the San Diego Regional Chamber of Commerce’s annual Congressional Luncheon at the Marriott Marquis San Diego Marina.

Regulations Big Part Of Housing Price Bite

BUILDING: Study Finds Fees, Delays Amount to 40% of Cost

Nearly half of the price of a new home in San Diego comes from two primary factors: delays and fees created by local regulations, according to a study of the county’s housing market released recently that prompted economists, builders and housing advocates to renew their call for a more streamlined approval process in one of the nation’s most expensive housing markets.

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New Nursing Facility A Big Asset for USD

MEDICINE: Opens Door for Research, Business Prospects

The University of San Diego is building a research facility on campus that will not only benefit faculty and students, but serve as a resource for local health care companies.

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Aerotropolis Arrival Seems More Likely

ECONOMY: 2 Airports Prepare for Bigger Roles

South and East County economic development groups are pressing ahead with efforts to turn two small local airports into big regional economic generators by creating the nation’s next “aerotropolis.”

Qualcomm Readies for Healthy Competition

TECH: Health Care Platform, Investments Often Overlooked

Qualcomm Inc. has a side that many people don’t talk about, an understated side that may well hold its future.

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A WEAK PIPELINE

BIOTECH: Drug Cos., Other Firms Find Ways To Face Water Shortage

It takes a lot of water to make a drug.

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Cohu Reports Q1 Results

Industrial electronics maker Cohu Inc. reported a net loss of $2.7 million on net sales of $68.1 million for the first quarter of 2015.

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Army Awards General Atomics ASI an $82.7M Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a four-year, $82.7 million contract for technological support.

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Cushman & Wakefield Promotes Howard to Lead Local Operations

Commercial brokerage and real estate services company Cushman & Wakefield Inc. has promoted Brunson Howard to the post of senior managing director and market leader for the San Diego region.

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Life Insurer Buys Three Office Buildings from Kilroy for $95 Million

An affiliate of John Hancock Life Insurance Co. has purchased a three-building portfolio of San Diego office buildings for $95 million, according to CoStar Group and public data.

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Business Calendar for Week of May 4, 2015

Some of the business events planned in the county for the week of May 4, 2015, and beyond.