Stories for October 2015

Friday, October 30

Maxwell Technologies Reports Revenue of $45.1M for Q3

Maxwell Technologies Inc., the San Diego maker of energy-storage devices called ultracapacitors, reported a net loss of $1.45 million, or a nickel per share, on revenue of $45.1 million during the third quarter.

San Diego County’s Construction Starts Down 37 Percent in First 9 Months of 2015

San Diego County’s construction starts declined 37 percent from a year ago in the first nine months of 2015, to a value of approximately $2.2 billion, according to the latest monthly figures from Dodge Data & Analytics.

Tease photo

Murphy Development Breaks Ground on $18.3 Million Spec Industrial Project in Otay Mesa

San Diego-based Murphy Development has broken ground on a planned $18.3 million industrial building in Otay Mesa, which the company said marks that neighborhood’s first speculative industrial project since 2007.

Tease photo

Business Calendar for Week of November 2, 2015

Some of the business events scheduled in the county for the week of November 2, 2015, and beyond.

S.D. to Host Inaugural World Beach Games

San Diego will host the inaugural World Beach Games, a multisport event set to debut in 2017 with surfing, skateboarding, beach soccer and volleyball, among others.

OneRoof Energy Inc. Appoints COO

San Diego-based OneRoof Energy Inc., a residential solar services provider and wholly owned subsidiary of OneRoof Energy Group Inc., announced it has appointed Brian Alexson, to the newly created role of chief operating officer.

Neurocrine Biosciences Announces Quarterly Results

Biopharmaceutical firm Neurocrine Biosciences Inc. announced earnings results for the third quarter of 2015.

Tandem Diabetes Reports Third Quarter Results

Tandem Diabetes Care Inc., medical device maker and manufacturer of insulin pumps in San Diego, reported third quarter earnings.

Thursday, October 29

UC San Diego Health Appoints Alumnus to be New CIO

Dr. Christopher Longhurst, chief medical information officer for Stanford Children’s Health, has been appointed chief information officer (CIO) for UC San Diego Health, Healthcare Informatics magazine reported. Longhurst fills the position being vacated with the retirement of Ed Babakanian, who served as CIO for 20 years.

Tease photo

SDBJ Wins 10 Awards at S.D. Press Club Annual Contest

The San Diego Business Journal took home 10 awards at the San Diego Press Club’s 42nd Annual Excellence in Journalism Awards -- seven first-place awards, three second-place awards and two third-place awards.

California Economic Activity Index Down 1.2 Percent in August

Comerica Bank’s California Economic Activity Index declined in August, decreasing 1.2 percentage points to a level of 119.6.

BuyAutoParts.com Expands Offerings With Acquisition of Turbochargers.com

BuyAutoParts.com recently acquired the domain Turbochargers.com to expand its product offerings.

Qualcomm Appoints Modoff as Executive VP of Strategy, M&A and Ventures

Qualcomm Inc. announced that Brian Modoff has joined the company as executive vice president of strategy, mergers and acquisitions (M&A) and ventures, reporting directly to Steve Mollenkopf, CEO of Qualcomm.

Tease photo

Innovus Pharmaceuticals Added to OTCQB Venture Index

Innovus Pharmaceuticals, Inc. (OTCQB: INNV), a La Jolla-based commercial stage pharmaceutical company that makes over-the-counter medicine and consumer care products, announced the company was added to OTCQB Venture Index.

BofI Reports 42.9 Percent Increase in Q1 Net Income

San Diego-based BofI Holding, Inc., parent company of BofI Federal Bank, reported net income of $25.5 million for the first fiscal quarter ending Sept. 30. That was a 42.9 percent increase over the net income of $17.8 million for the same quarter in 2014.

Corporate Giving Benefits Everyone Involved

Americans are known for their philanthropic spirit, and corporations are no exception. Hospitals, libraries, colleges – our nation itself – have benefited from selfless donations in the spirit of our collective quest to help others.

Seafood Sustainability, From Catch to Can

In a world that’s constantly growing and evolving, what does sustainability truly mean? What does it look like? In a sense, sustainability captures the ability to continue a behavior for an extended period of time, balancing the needs of the present and those of the future for both the planet and its inhabitants. For those in the seafood industry, the preservation and protection of our world’s oceans and seafood supply is a conversation we’re fueling every day.

Feeding America San Diego Names Al Brislain CEO

Feeding America San Diego announced the appointment of Al Brislain to the post of CEO.

Tease photo

Gala Furnishes More Funds for the Ronald McDonald House

Ronald McDonald House Charities San Diego announced it raised $525,000 at the annual ROMP gala, which helps support families dealing with medical hardship.

Tease photo

Could Qualcomm Diversification Lead to Data Centers?

TECH: Co. Would Have to Take On Intel In Lucrative Market

For Qualcomm Inc., the smartphone is simply not the cash generator it once was. As profits level off, the San Diego chip maker hopes to improve its fortunes by going into a business adjacent to smartphones.

Getting With The Programs

TECH: Code-Writing Boot Camps Are Popping Up As Students Seek Opportunity to Join the Tech Sector

The recruits wear shaggy beards and it’s laptops, not rifles, that have become their new best friends.

Tease photo

EVoucher System Simplifies Process in Federal Court

The U.S. Supreme Court, some quip, exists to reverse the U.S. Ninth Circuit Court of Appeals. Not even the land’s highest court would grant cert to reverse this item: Court staff from the circuit have received national recognition for their work in developing an electronic voucher-processing system that is improving how the federal judiciary manages spending for indigent defense.

AleSmith Covers All the Bases for Expansion With New Site

AleSmith Brewing Co. recently opened the doors in Miramar to the region’s latest temple of taps — what the company bills as San Diego County’s largest brewery tasting room, spanning 25,000 square feet.

Company Readies to Ride Its Brand Into Popular Culture

APPAREL: Everyday Lines Up Agreements to Support Global Marketing

La Jolla-based lifestyle company Everyday California finishes its fifth year with an expanding global apparel business and will start 2016 with a new retail location, a juice bar and a reality TV series.

Tease photo

Restaurant Revolution Tries to Be Real Good at Taking Orders

TECH: Call Center Achieves Upsells, Aims To Mine Social Media

Restaurant Revolution Technologies is using your takeout ordering habits ― and soon your social media conversations ― to upsell takeout orders and maximize restaurant sales.

Tease photo

Local Biotech Veterans Find Old Relationships Fit New Venture

LIFE SCIENCE: Zavante Follows Familiar Formula Of Company Formation

A group of big-shot biotech veterans in San Diego quietly launched a new venture last month, one of many local companies founded by serial entrepreneurs that have recently emerged from stealth mode.

Researcher Taps App to Get Accurate Picture of Subjects’ Diets

TECH: Study Looks Into Connection of Body Clock and Food

When it comes to long-term health, what you eat matters. When you eat it, however, might matter, too — perhaps more than you would think.

Tease photo

This Chicken Should Soar In Popularity

Talk about a recipe for success: fast casual in a high-traffic, trendy spot with a menu that fills a void in the in the guilty pleasure/comfort food category.That would be The Crack Shack, a walk-up fried chicken and eggs restaurant opening next week in Little Italy. Mike Rosen and chef/partner Richard Blais are opening the restaurant at Juniper Street and Kettner Boulevard. There is no shortage of people willing to indulge in a well-prepared, freshly cooked piece of fried chicken;the Crack Shack will be a huge hit.

S.D. Gets ‘Crafty’ In Drawing Tourists

TOURISM: Beer Week, Other Similar Events Bring Visitors

As the craft-beer faithful converge for the annual San Diego Beer Week — actually 10 days filled with countywide beer breakfasts, geek tours, ale marathons and “tap takeovers” – the local region is expected to get a significant economic buzz in the form of tourism benefits. If past years are an indication, this year’s seventh annual event, organized by the San Diego Brewers Guild and scheduled for Nov. 6-15, should create a steady flow of hotel room bookings, brewery tours, and increased sales at local stores, bars and restaurants.

Tease photo

Designer’s Career Is Colorful Journey

FASHION: Zandra Rhodes Practical Side Shines, Too

Fashion designer Zandra Rhodes, known for flowing chiffon dresses, occasionally fantasizes about other mediums that could benefit from her trademark bold colors and patterns. “I’d love to have a go to do carpets in Las Vegas,” the British-born Rhodes said. “You could do anything mad and be in charge of doing a mad hotel.”

Tease photo

Generic Drug Route Had Learning Curve

PHARMA: Company Opts to Build Distribution Network

For the past three years, an office building owned by Carlsbad Technology Inc. sat empty, awaiting enough growth from the generic drug manufacturer to force an office expansion. The moment has come: Carlsbad Technology moved into its new offices last month to accommodate an additional 33 employees over the past nine months, for a total of 136 employees.

Tease photo

Gaining Experience

ECONOMY: Startups Find Good Guides In Accelerators, Incubators

In a global world with increasingly complex problems, it’s not a surprise that a successful startup no longer consists of one person armed with one idea. “Nobody innovates on their own,” said startup guru Greg McKee, CEO of San Diego’s longest-running business accelerator CONNECT. “The concept of the solo inventor working out of his garage is the myth of invention.”

Tease photo

UC San Diego to Launch Robotics Institute

The University of California, San Diego has announced plans to start a Contextual Robotics Institute, bringing together top academics from its schools of engineering and social science.

Wednesday, October 28

Dealstruck Reports Reaching More Than $100 Million in Loans Since Founding

Alternative lender Dealstruck on Wednesday said it had racked up more than $100 million worth of loans to business customers since its founding in October 2013.

ROIC Reports Third-Quarter Increase in Revenue, Net Income

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, reported total revenue of $50.1 million in its third quarter ending Sept. 30, an increase of 22.5 percent from the year-ago period.

Tease photo

Realty Income Corp. Sees Revenue, Net Income Rise in Third Quarter

Realty Income Corp. saw revenue rise 9.8 percent from a year ago in its third quarter ending Sept. 30, reaching $258.9 million, the San Diego-based real estate investment trust reported.

Tease photo

Novatel Wireless Fires CEO Alex Mashinsky, Appoints Sue Swenson to Lead Company

Novatel Wireless Inc. fired CEO Alex Mashinsky on Oct. 27, the company said Oct. 28.

Tease photo

Regulus Therapeutics Receives Final Milestone Payment from Biogen

Regulus Therapeutics announced that it has earned its fourth and final milestone payment from Biogen related to their research collaboration to identify microRNAs as biomarkers for multiple sclerosis (MS).

Quidel Corp. Reports Q3 Revenue of $46.8 Million

Quidel Corp., a diagnostic test manufacturer in San Diego, reported revenue of $46.8 million in the third quarter of 2015, up 14 percent from the same period last year.

County Verifies Signatures for Carlsbad Lagoon Project Referendum

The county Registrar of Voters has verified signatures submitted by opponents aimed at rescinding approval or forcing a public vote on controversial plans to develop lagoon-adjacent land in Carlsbad.

Tuesday, October 27

Northrop Grumman Mum on Whether S.D. Will Get Share of $60 Billion Contract

Northrop Grumman Corp. declined comment Tuesday on whether any work from its newly acquired, $60 billion next-generation stealth bomber contract would flow to San Diego’s defense community.

Second Hotel Set to Open at Viejas Casino & Resort

Viejas Casino & Resort set an Oct. 30 opening for its second hotel building, which will practically double the number of rooms at the resort.

Former Midway Postal Facility Acquired for $19.3 Million

Rexford Industrial Realty Inc. of Los Angeles has acquired a former U.S. Postal Service annex facility in San Diego’s Midway district for $19.3 million, with plans to redevelop the property into new industrial spaces.

Tease photo

Pharmaceutical Company Beloteca Inc. Opens Lab in Sorrento Valley

San Diego-based Beloteca Inc. announced Tuesday that it has opened a product development laboratory in Sorrento Valley.

San Diego Home Prices Grew 5.9 Percent Year Over Year

San Diego’s home prices increased 5.9 percent in the year ending in August, according to an index measuring housing prices, once again surpassing the national average.

Guild Mortgage Co. Reports Record Loan Volume of $10.7 Billion

Guild Mortgage Co. on Tuesday reported record loan volume of $10.7 billion in the first nine months of the year, more than double its volume of $5.2 billion during the same period last year. The company recorded $4 billion in loans in the third quarter alone.

CRO Veteran Dieter Seitz-Tutter Named VP at SynteractHCR

SynteractHCR, a contract research organization (CRO) in Carlsbad, has hired Dr. Dieter Seitz-Tutter as vice president of global clinical operations.

AleSmith Brewing Opens New Tasting Room in Miramar

AleSmith Brewing Co. has opened its previously announced new tasting room in Miramar, billed as San Diego County’s largest brewery tasting room at 25,000 square feet.

Tease photo

Poinsettia Bowl Players, Coaches to Host Luncheon

Football fans will be able to share a meal with the players and coaches in this year’s Poinsettia Bowl the day before the game, the San Diego Bowl Game Association said Tuesday.

Monday, October 26

ALTA Hires Ghina Yamout to Lead Business Development

Consulting firm ALTA Environmental has hired Ghina Yamout as the new head of business development for its water resources division, the company said Thursday.

Tease photo

Solar Manufacturer Closes San Diego Location

Soitec Solar Industries, LLC closed its Rancho Bernardo location on Oct. 16, with a projected layoff of 100 employees, according to the California Employment Development Department.

ViaSat Inc. Awarded $13.2 Million Air Force Contract

The U.S. Air Force awarded ViaSat Inc. a $13.2 deal to develop Mini Crypto — electronics that can encode a message to National Security Agency specifications while keeping size, weight and power consumption to a minimum.

San Diego Private Bank Reports Record Q3 Net Income

San Diego Private Bank on Monday reported yet another record quarter, with net income nearly doubling to $1.4 million.

GA-ASI Awarded $19.1 Million Deal With French Air Force

General Atomics Aeronautical Systems Inc. has a $19.1 million logistics deal with France, the Pentagon announced on Oct. 26.

Golden Hill Apartment Property Sold for $5.12 Million

Los Angeles-based 2331 E Street LLC has acquired the 17-unit Golden View Apartments in Golden Hill for approximately $5.12 million, according to brokerage firm ACRE Investment Real Estate.

Tease photo

Intel, Turtle Beach Sign New Leases at Scripps Ranch Property

Property owner Davlyn Investments recently signed technology tenants Intel Corp. and Turtle Beach Systems to new leases totaling more than $17.1 million at its Northridge Summit office building in Scripps Ranch, bringing the property to full occupancy.

Tease photo

CareFusion Signs Exclusive Agreement With AAM Healthcare

CareFusion, a BD company, announced Monday its Vital Signs anesthesia delivery and patient monitoring business has entered into an exclusive agreement with AAM Healthcare.

Isis Pharmaceuticals Receives $5 Million Milestone Payment

Isis Pharmaceuticals Inc. announced Monday that it has earned a $5 million milestone payment from GlaxoSmithKline Plc (GSK) related to the initiation of a Phase 1 study of drug candidate ISIS-GSK4-LRx.

Poway Industrial Buildings Sold for $55 Million

San Diego-based Sorrento West Properties Inc. has purchased three industrial buildings at Legacy Stowe Business Center in Poway for $55 million, according to CoStar Group and public data.

Tease photo

Sunday, October 25

Pulse Electronics To Provide Antennas for World Trade Center Complex

San Diego-based Pulse Electronics Corp. will install over 700 ultra-thin, clear antennas for wireless network coverage in the World Trade Center complex in New York.

San Jose Company Acquiring NovaRx

San Jose-based Viropro said Oct. 23 that it’s acquiring San Diego-based NovaRx, a developer of immuno-oncology treatments, for an undisclosed all-stock price.

CDC Small Business Finance Lends More Than $800M in Fiscal Year

CDC Small Business Finance, one of the nation’s largest Small Business Administration lenders, said it lent out more than $800 million over the past fiscal year ending in September.

The Business Calendar for the Week of October 26, 2015

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

ResMed Reports Q1 Net Income of $80.4 Million

San Diego medical device maker ResMed reported net income of $80.4 million for the first quarter of fiscal 2016, down 3 percent from the same quarter the previous year.

Tease photo

Callaway Golf Reports Q3 Results

Callaway Golf Co. reported a net loss of $3.6 million, or 4 cents per diluted share, on net sales of $175.8 million in the three months ended Sept. 30.

Wermers Properties Completes Luxury Apartment Project in Mission Viejo

San Diego-based development company Wermers Properties announced the completion of Adagio on the Green a community of 256 luxury apartment homes located in Mission Viejo.

Tease photo

S.D. Firm Buys Two Phoenix Offices for $10.4M

Douglas Allred Co., a San Diego developer, purchased two office buildings in Phoenix for $10.4 million, the Phoenix Business Journal reported.

San Diego Named a 'Smart21 Community'

San Diego was one of only two cities in the United States named a "Smart21 Community" by the Intelligent Community Forum.

Friday, October 23

Wermers Completes Mission Viejo Project

San Diego-based development company Wermers Properties announced the completion of Adagio on the Green a community of 256 luxury apartment homes located in Mission Viejo.

Tease photo

Business Calendar for Week of October 26, 2015

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

ResMed Reports Q1 Net Income of $80.4M

San Diego medical device maker ResMed reported net income of $80.4 million for the first quarter of fiscal 2016, down 3 percent from the same quarter the previous year.

Thursday, October 22

Gov. Brown Certifies Chargers Stadium Proposal for Fast-Track Review

Gov. Jerry Brown on Wednesday certified San Diego’s proposed Chargers stadium in Mission Valley for fast-track review, allowing the city to resolve potential legal challenges in less than a year.

ViaSat Buys 23 Acres for Worldwide Headquarters in Carlsbad

Cushman & Wakefield announced Thursday that ViaSat, Inc. has purchased 23 acres off El Camino Real and Gateway Road in the Bressi Ranch area of Carlsbad for its global headquarters from HCP, Inc. (NYSE: HCP). Financial details of the transaction were not disclosed.

Seacoast Commerce Reports Q3 Net Income of $1.5 Million

Third-quarter net income for Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, hit $1.5 million, the bank said Thursday, up from $1 million last year.

Army Awards GA-ASI $38.2 Million Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a $38.2 million contract modification covering one year of performance-based logistics support for the Army’s Grey Eagle unmanned aircraft.

Tealium Establishes New Flagship Office in Japan

San Diego-based Tealium, a provider of enterprise tag management and real-time unified customer data solutions, recently announced the company has extended its global presence with the establishment of a new flagship office and executive leadership appointment in Japan.

Imprimis Pharmaceuticals to Sell Pricey Generic Drug for $1 Per Dose

A San Diego company is stepping into the furor over price spikes for old generic drugs. Imprimis Pharmaceuticals, a maker of compounded drugs, will begin selling doses of Daraprim for $1 per dose, the company announced Thursday.

Superior Mobile Medics Acquired by N.J. Firm for Undisclosed Price

Superior Mobile Medics is being acquired by New Jersey-based ExamOne, a Quest Diagnostics company focused on helping insurers meet underwriting needs.

President/CEO of San Diego Convention Center Corp. Announces Retirement

Carol Wallace, president and CEO of the San Diego Convention Center Corp., announced she will retire at the end of the year.

Tease photo

Flextronics Announces $20 Million Expansion of Tijuana Facility

San Diego Flextronics, a large multinational company known mostly for designing and manufacturing computer equipment, announced a $20 million expansion of its Tijuana facility.

‘Wait Loss’ Is Goal In Aging of Alcohol

TECH: Device Said to Cut Time in Half For Barrel-Aging Process

The hardest part of barrel aging? Waiting. It typically takes months, even years, to make a quality beer or spirit, such as whiskey or rum.

Tease photo

Firm’s Employees Contribute to the Community in a Big Way

More than 250 professionals from Ernst & Young LLP supported their local communities by donating 950 volunteer hours at eight project sites across San Diego.

Tease photo

Financial Management Co. Finds Niche Helping Small Businesses

FINANCES: Firm Is Familiar With Challenges, Ins-and-Outs of Operations

What a Relief, a financial management firm serving small businesses, will near $1 million in revenue this year. Not bad for a company that began with three clients over a decade ago and now serves more than 100.

Tease photo

It Is About ‘Product Placement,’ Finding a Fit for Your Home

RETAIL: PIRCH’s Kitchen, Bath Fixtures, And Service Do the Selling

PIRCH, a San Diego-based chain of kitchen, bath and outdoor product stores, got its start in 2009 when co-founders Jeffery R. Sears and Jim Stuart had a conversation about the terrible experiences they have had when buying household appliances.

Tease photo

Sharp Grossmont Adds Cancer-Fighting Tool

MEDICINE: System’s Precision Helps Avoid Unnecessary Damage

Sharp Grossmont Hospital announced that it has added a new cancer-fighting tool to its arsenal ― the Elekta Versa HD linear accelerator.

Tease photo

It’s Awards Season at the Pentagon, Contract Awards That Is

As the old year drew to a close, the push at the Defense Department was to get funds obligated before the chimes struck 12.

Vuka Founders Strive for More Positive Energy in Their Drinks

BEVERAGE: Products Also Made With a Focus On What to Leave Out

The founders of Vuka Natural Energy created a thriving beverage company in Solana Beach by embracing one of the most demonized products in America — energy drinks — and making them healthier.

Tease photo

Health Nucleus Provides High-Tech Analysis at Healthy Price

La Jolla’s famed geneticist J. Craig Venter has launched what he describes as the world’s most comprehensive service to determine health and disease risk. The service provides a detailed picture of a person’s health down to the molecular level, which helps people make more informed decisions about treatment.

Radio Work Signals Jobs for Northrop Grumman’s Local Units

DEFENSE: Contractor Wins Bids for F-35s And Signal Jammers

Northrop Grumman Corp. sees growth ahead in its military radio business in Kearny Mesa and Carmel Mountain Ranch.

Tease photo

Region Sees 225 M&As in First Nine Months of 2015

ACQUISITION: Tech, Life Sciences and Finance Are Most Active Sectors

The San Diego region recorded 225 mergers and acquisitions (M&As) from Jan. 1 to Oct. 7, most of them involving the technology, finance and life sciences sector, according to information compiled by the nonprofit CONNECT.

Fly Trap Inventors Are Using Crowdfunding to Create a Buzz

PRODUCTION: Co. Tapped Local Resources: Inventors Club, 3rdSpace

Flies everywhere should be very, very scared. Joylyn Keil Darnell and Dennis Darnell are planning their demise.

Tease photo

JetPurple Puts S.D. on Its Flight Path

JetPurple Airwayz announced plans to begin regularly scheduled luxury flights between San Diego and the Phoenix suburb of Scottsdale, Ariz., beginning in April.

Craft Brewer Takes Giant Step: Files for IPO

FINANCE: Ballast Point Would Be First Local Brewer on Nasdaq

Ballast Point Brewing & Spirits Inc. is planning to take the plunge with an initial public offering (IPO) of stock.

Tease photo

Proposing A Virtual Toast To Virtual Galas

Charitable donations have remained at about 2 percent of the U.S. GDP for decades. This presents the nonprofit sector with a classic dilemma — attempts to do something differently to grow overall giving come with a risk of losing share of market.

VC Funding Provides The Juice Locally in Q3

FINANCE: Suja Mega-Deal Part of Big Money Quarter

After a dismal start to the year, San Diego’s venture capital investment surged in the third quarter, marking the biggest quarterly haul in the region since 2008. The third quarter brought in nearly $434 million, up from the 7-year record-low $122 million raised just last quarter, according to a recent MoneyTree report by PricewaterhouseCoopers and the National Venture Capital Association.

Mortgage Lending Changes Arrive

FINANCE: Some Say Devil Is In too Many Details, Delay

The home mortgage industry is grappling with recently implemented lending rules aimed at simplifying and consolidating the information borrowers receive, making it easier for prospective homebuyers to compare offers, but potentially adding delays to the process.

Tide To Tap

RESOURCE: Desalination Plant Prepares For Big Role Locally And As Model Facility

San Diego’s vaunted $1 billion desalination plant, which will make water from the Pacific Ocean drinkable, is on the verge of pumping fresh water into the county’s water system for the first time.

Tease photo

Wednesday, October 21

City of San Diego to Install Solar Panels at 25 Sites

The City of San Diego will install solar panels on 25 city sites, officials said Wednesday, as part of a 20-year deal with SunEdison.

Two S.D. Schools Make Bloomberg Business List

Two San Diego universities have made it onto Bloomberg Business’ annual ranking of the country’s top business schools.

Navy Awards Contracts to Marathon Construction, R.E. Staite Engineering

Marathon Construction Corp. of Lakeside and R.E. Staite Engineering Inc. of San Diego were among five contractors receiving up to five years of U.S. Navy construction work, primarily on the West Coast.

Tapestry Solutions Inc. Receives $7.2 Million DoD Contract

Tapestry Solutions Inc. of San Diego received a $7.2 million contract modification from the U.S. Transportation Command on Oct. 1. Under the deal, Tapestry will sustain the current, version 6 of the ICODES cargo transportation planning software.

Illumina Inc. Reports Q3 Revenues of $550.3 Million

Illumina Inc. reported that its third-quarter revenues increased 14 percent from the same quarter last year, consistent with the company's preliminary report earlier this month that revenues would not be as high as anticipated.

Millennium Health Agrees to Pay $256 Million Settlement

Federal prosecutors on Monday said Millennium Health, the nation’s largest drug-testing company, will pay $256 million to settle allegations it billed Medicare and Medicaid for unnecessary urine drug tests and for giving free medical supplies to doctors who referred expensive business back to Millennium.

Tuesday, October 20

Investment Bank Hires Former Allergan Exec David Crean

San Diego-based middle market investment bank Objective Capital Partners has hired former Allergan executive David Crean to head its life sciences investment banking group, the bank said Tuesday.

BAE Systems Awards Cobham $51 Million Contract for F-35 Components

Cobham recently received approximately $51 million from BAE Systems for microelectronic products for the F-35 Lightning II platform.

Staffing Business Workpop Expands Reach to San Diego

Workpop, a Los Angeles business that connects service workers with hourly jobs, has expanded its reach to San Diego, the company said on Oct. 20.

Sharp HealthCare Adds Second Cancer-Fighting Radiation System

Sharp Grossmont Hospital announced Tuesday that it has added a new cancer-fighting tool to its arsenal ― the Elekta VersaHD linear accelerator.

Tease photo

SeaSpine Holdings Corp. Names Patrick Keran General Counsel

Vista-based SeaSpine Holdings Corp., a medtech company focused on surgical solutions for the treatment of spinal disorders, announced Tuesday the appointment of Patrick Keran to the newly created position of general counsel.

JetPurple Airwayz to Begin Luxury Flights in April

JetPurple Airwayz announced plans this week to begin regularly scheduled luxury flights between San Diego and the Phoenix suburb of Scottsdale, Ariz., beginning in April.

Monday, October 19

Parentsware Named Best Tech Startup in S.D., Orange Counties

Parentsware was named the best tech startup in San Diego and Orange counties during the 2015 Tech in Motion Awards, also known as the Timmy Awards.

Ballast Point, S.D.'s No. 2 Brewer, Files for IPO

Ballast Point Brewing & Spirits Inc. is taking the plunge with an initial public offering of stock.

NFL to Hold Public Hearing in San Diego Next Week on Proposed Chargers Relocation

The National Football League announced today that it will hold public hearings in San Diego, Oakland and St. Louis to evaluate the requests of teams from each of those cities to relocate to the Los Angeles area.

General Dynamics NASSCO Holds Christening for ECO Tanker

General Dynamics NASSCO hosted a christening ceremony Oct. 17 for the first ECO tanker, the Lone Star State, for American Petroleum Tankers (APT) under construction at the company’s shipyard in San Diego.

Tease photo

Sequenom Inc. to Collaborate With Colorado School of Medicine

Sequenom Inc. is entering a clinical collaboration with the University of Colorado School of Medicine in Denver.

Cognitive Medical Systems Secures 8 Federal Contracts

San Diego-based Cognitive Medical Systems, a company specializing in health IT software, announced Monday that it secured eight new or renewed federal agency contracts last quarter.

Sunday, October 18

SeaWorld to Challenge Coastal Panel's Authority to Regulate Killer Whale Policies at Park

The parent company of SeaWorld San Diego will pursue legal action, challenging a recent California Coastal Commission decision approving its planned local Blue World expansion while banning the marine park’s breeding of captive killer whales.

Tease photo

Gimbal Acquires San Francisco-based Phigital

Gimbal Inc. said on Oct. 15 that it acquired San Francisco-based Phigital. Financial terms of the deal were not disclosed.

Business Outlook Index Dips Slightly, Optimism Drops Again

The San Diego Regional Chamber of Commerce’s measure of business optimism fell for the third consecutive month in September to another year-long low, with firms expressing concern about the impending state minimum wage hike and new aspects of the Affordable Care Act.

Industrial Property Sells for $9 Million in San Marcos

Hager Pacific Properties of Newport Beach has acquired a San Marcos industrial property for $9 million in an all-cash transaction, the company announced.

Tease photo

Millennium Health Says It's Finalized Settlement With DOJ in Billing Probe

Millennium Health, the nation’s largest drug-testing company, said Oct. 16 it had finalized a settlement agreement with the U.S. Department of Justice to end a probe into its billing practices and would undergo financial restructuring, perhaps in bankruptcy court.

The Business Calendar for the Week of October 19, 2015

Some of the business events planned in the county for the week of October 19, 2015, and beyond

Sorrento Valley Leasings Total More than $5 Million

an Diego-based owner Parallel Capital Partners Inc. recently announced the signing of three new life science and technology tenants at its commercial properties in Sorrento Valley, among deals valued at more than $5 million.

Tease photo

County's Unemployment Rate Drops to 4.6% in September

San Diego’s unemployment rate dropped a half of a percentage point to 4.6 percent in September, as the county netted 2,500 jobs since August.

Miramar Industrial Property Sells for $2.3 Million

Brixton Ridge LLC of San Diego has purchased a Miramar industrial property for $2.3 million, according to brokerage company Newmark Grubb Knight Frank (NGKF).

Tease photo

Scripps Institution of Oceanography Appoints Steve Gallagher Assistant Vice Chancellor for Finance and Operations

Scripps Institution of Oceanography at UC San Diego announced that Steve Gallagher will serve as assistant vice chancellor for finance and operations.

Friday, October 16

Millennium Health Says It's Finalized a Settlement With Government in Billing Probe

Millennium Health, the nation’s largest drug-testing company, said Oct. 16 it had finalized a settlement agreement with the U.S. Department of Justice to end a probe into its billing practices and would undergo financial restructuring, perhaps in bankruptcy court.

S.D.'s Unemployment Rate Drops to 4.6% in September

San Diego’s unemployment rate dropped a half of a percentage point to 4.6 percent in September, as the county netted 2,500 jobs since August.

Miramar Industrial Property Sold for $2.3 Million

Brixton Ridge LLC of San Diego has purchased a Miramar industrial property for $2.3 million, according to brokerage company Newmark Grubb Knight Frank (NGKF).

Tease photo

Business Calendar for Week of October 19, 2015

Some of the business events planned in the county for the week of October 19, 2015, and beyond.

Sorrento Valley Leasings Total More than $5M

San Diego-based owner Parallel Capital Partners Inc. recently announced the signing of three new life science and technology tenants at its commercial properties in Sorrento Valley, among deals valued at more than $5 million.

Tease photo

Gimbal Inc. Acquires San Francisco-Based Phigital

Gimbal Inc. said on Oct. 15 that it acquired San Francisco-based Phigital.

San Marcos Industrial Property Sells for $9M

Hager Pacific Properties of Newport Beach has acquired a San Marcos industrial property for $9 million in an all-cash transaction, the company announced.

Tease photo

SeaWorld Hires Attorneys to Challenge Coastal Panel's Authority to Regulate Killer Whale Breeding at Park

The parent company of SeaWorld San Diego will pursue legal action, challenging a recent California Coastal Commission decision approving its planned local Blue World expansion while banning the marine park’s breeding of captive killer whales.

Tease photo

Scripps Institution of Oceanography Names Steve Gallagher Assistant Vice Chancellor for Finance and Operations

Scripps Institute of Oceanography at UC San Diego announced that Steve Gallagher will serve as assistant vice chancellor for finance and operations.

Thursday, October 15

WD-40 Co. Reports Q4 Net Income of $11.7 Million

WD-40 Co., the corporation that makes the lubricant of the same name as well as other chemicals, said on Oct. 15 that it had net income of $11.7 million, or 80 cents per diluted share, on net sales of $92 million during the fourth quarter.

UCSD, Southern California Edison Join CalCharge

CalCharge recently announced a partnership with Southern California Edison (SCE) and the University of California, San Diego, to develop cleaner energy storage.

Former Citibank Banker Pleads Guilty to Felony Bribery Charge

A former San Diego Citibank business banker pleaded guilty Thursday to a felony bank bribery charge, as prosecutors alleged he recruited high-risk clients and helped them bypass Citibank’s safeguards against money laundering.

Investment Needed for State Water Infrastructure

Every two minutes a water main breaks somewhere in the United States, resulting in billions of gallons of treated water being lost every year. Worse are losses from household leaks — approximately 1 trillion gallons annually, or enough to represent the annual household water needs of 11 million homes, according to the U.S. Environmental Protection Agency.

Bank Joins Operation Gratitude to Show Thanks to Veterans

Wells Fargo partnered with the Armed Services YMCA San Diego (ASY San Diego) recently to host a “kitting” and letter- writing event for military families. The event was part of a larger effort by Wells Fargo and the nonprofit Operation Gratitude to show appreciation for our nation’s armed forces.

Tease photo

Latham & Watkins Team Represents BioMed In $8B Acquisition

Latham & Watkins advised local real estate powerhouse BioMed Realty Trust Inc. in its acquisition by Blackstone Group for a handsome $8 billion. Completion of the transaction, which is expected to occur in the first quarter of 2016, is contingent upon customary closing conditions, including the approval of BioMed Realty’s stockholders.

Changes at Qualcomm Continue With the Sale of Vuforia

Qualcomm Inc. has agreed to sell its Vuforia business to PTC Inc., a $1.36 billion corporation from the Boston suburb of Needham, Mass.

Opposing Forces

DEFENSE: The Pentagon Cash Flow Is Kind to Some Cos., But the Specter of Defense Budget Cuts Still Looms

How healthy is the region’s defense economy? In the short term, it’s great. In the long term, observers seem a little more guarded

Tease photo

Mother Earth to Expand Its World With an Idaho Facility

It’s a sign of the times for San Diego County’s burgeoning craft beer industry: So many companies are looking to expand that they’re actually running out of viable physical spaces to do that in the local market.

Alternative Lending Boom Brings Challenges

FINANCE: Crowded Field Changes Strategies, May Bring Consolidation

When Jules Dalsey founded Liberty Capital Group a decade ago, his business model was straightforward: seek out small businesses looking for equipment financing, learn their stories and connect them with banks or other funding sources most likely to issue a loan. Since 2010, the company has originated $100 million in loans.

Tease photo

Manchester Grand Hyatt Completes Lounge Renovation

Manchester Grand Hyatt San Diego recently completed a multimillion-dollar renovation of its sky-high bar and lounge, called Top of the Hyatt.

Tease photo

Co. Adds Civilian Training to Its Simulated Scenario Offerings

MEDICINE: It Aims for Wound Simulations to Be A Cut Above Others

Stu Segall Productions, once a television studio that filmed racy crime shows in the ’90s, is now home to all manner of disasters: active shooters, overturned vehicles, and building collapses, to name a few.

Tease photo

El Niño Could Bring Too Much of a Good Thing: Rain

ECONOMY: Tourism, Retail Sectors at Risk; Flood Damage a Concern

Meteorologists around the world are warning of a possible record-setting El Niño weather pattern this winter that could bring intense rain and flooding to Southern California, directly threatening nearly 5,000 San Diego businesses.

Private Equity Firms Reportedly in Talks Seeking Petco Purchase

RETAIL: Company Holds Open House at New Headquarters

Leaders of Petco Animal Supplies Inc. recently welcomed visitors to the company’s new 300,000-square-foot headquarters facility in Rancho Bernardo. But officials at press time remained mum on reports that at least four private-equity firms are seeking to take over the pet products retailer.

Tease photo

Founders Develop Device Covers With Protection in Mind

TECHNOLOGY: Concerns Over Effects of Radiation Drive Product Design

Warning labels inside laptop and cellphone manuals recommend keeping a safe distance between the user and the device. For most users, the recommendations are impractical and often go ignored.

Tease photo

Oceanside Retail Center Sold for $15.7 Million

Sterling Organization of Palm Beach, Fla., has acquired the Oceanside Town & Country retail center in Oceanside for $15.7 million, according to brokerage company Cushman & Wakefield.

Tease photo

GenomeDx Biosciences Adds Tina Nova and Craig Johnson to Board of Directors

GenomeDx Biosciences, a genomic information company, announced Thursday that Tina Nova and Craig Johnson are joining its board of directors.

Co. Gets Key Google Certification

Ezoic has scored a berth as one of the first Google Certified Publishing Partners. The Carlsbad software business serves small website publishers by figuring out which layout of a website attracts the most viewers.

Local Network to Be Used for Earthquake Alerts

TECH: Company to Deploy Sensors in Imperial Valley

A business that seeks to provide clients with several seconds of advance notice when an earthquake strikes is expanding in Southern California by buying capacity on a local scientific radio communications network.

Tri-City to Partner With UC San Diego Health

MEDICINE: Tri-City Patients Gain Access To Some UC Services

UC San Diego Health and Tri-City Healthcare District announced that they have entered an exclusive, long-term partnership that could boost the Oceanside hospital’s long-term viability while expanding the university’s reach into North County.

Callaway Golf, Padres Announce The Links at Petco Park

Callaway Golf is bringing a nine-hole golf course to Petco Park next month, the Padres said Thursday.

Did Mansion Have Popcorn Ceilings or What?

You don’t find bargains like this every day. A contemporary mansion perched atop Paint Mountain in Escondido recently shattered the city’s record sale price when it sold for $5.5 million. The previous high sale price in Escondido was $2.8 million. But the Paint Mountain home had been listed for as much as $12.5 million.

Blackstone Sees What The Markets Missed

PROPERTY: BioMed Buy Gets Exceptional Portfolio

Pending shareholder approval, San Diego’s BioMed Realty Trust Inc. will soon join the growing roster of high-profile local entities now controlled by the private equity giant Blackstone Group, which analysts said has recently been taking parked money off the sidelines to diversify its U.S. and global real estate holdings.

Tease photo

Shannon Foster Named GM of Hotel Solamar

Shannon Foster has been named general manager of the 235-room Hotel Solamar in the Gaslamp Quarter, operator Kimpton Hotels & Restaurants announced.

Tease photo

National University Names Director for Philanthropy Institute

National University on Thursday announced a new director for its philanthropy institute who will also serve as an interim dean at the university’s business school.

Nonprofit Research Brings $4.6B Impact

BIOTECH: EDC Study Calls For More Support, Outreach

Work done at local research institutes makes a big impact on San Diego’s economy, according to a new report. The San Diego Regional Economic Development Corp. pegs the local impact of nonprofit research institutes at $4.6 billion each year.

Drought’s Impact Seen In Output

AGRICULTURE: Production Drops 2 Percent in 2014

The value of San Diego’s agricultural products fell slightly last year, declining about 2 percent to $1.82 billion from the year before, as avocado output dropped sharply amid rising water costs and a law requiring cage-free henhouses made raising eggs more expensive.

Tease photo

Lead Role

TECH: Zeeto Provides Tools for Cos. to Build Their Customer Base

Zeeto knows how to make customers happy — and businesses even happier. The five-year-old company developed a unique and proprietary technology platform that entices consumers to visit its two uber-popular websites — samples.com and getitfree.us — with offers of free goods. It then connects them with consumer-products companies through a series of discreet, but targeted questions, in the process creating a footprint that allows the businesses to more effectively market their products.

Tease photo

Wednesday, October 14

Fired Auditor Sues Bank of the Internet

A former auditor for Bank of the Internet accused the bank in federal court Tuesday of firing him after he allegedly uncovered potential evidence of regulatory violations and shared his concerns with federal officials.

Glen Oaks Escrow Acquires First Capital Escrow

Glendale-based Glen Oaks Escrow said Wednesday it had acquired Carlsbad-based First Capital Escrow, folding it into its Encinitas location.

General Dynamics NASSCO Begins Work on Support Ship

General Dynamics NASSCO said on Oct. 14 that it started construction on the fourth in a series of expeditionary warfare support ships. The U.S. Navy signed a $498.1 million deal to build the ship in June.

UC San Diego Health to Partner with Tri-City Healthcare District

UC San Diego Health and Tri-City Healthcare District announced Wednesday that they have entered an exclusive, long-term partnership that could boost the Oceanside hospital's long-term viability while expanding the university’s reach into North County.

William Bogle Named Executive Director of SDMAC

SDMAC, the San Diego Military Advisory Council, has named William T.R. Bogle as its executive director.

Tease photo

Supervisor Horn Won’t Vote on Lilac Hills Ranch Project

San Diego County Supervisor Bill Horn has recused himself from an upcoming vote on the proposed 1,700-home Lilac Hills Ranch development, citing a ruling by the Fair Political Practices Commission that he has a conflict of interest because he owns land near the North County project site.

Tuesday, October 13

East Village Apartment Property Sold for $83.95 Million

Plano, Texas-based Monogram Residential Trust Inc. has purchased EV Lofts, a luxury apartment property in downtown San Diego’s East Village, for $83.95 million, according to CoStar Group and public data.

Tease photo

General Dynamics NASSCO Set to Christen Tanker Lone Star State on Oct. 17

General Dynamics NASSCO plans to christen the Lone Star State, the first of five ECO tankers built for American Petroleum Tankers, on Saturday, Oct. 17.

Lakeside Land to Become Habitat Preserve with $8 Million Acquisition

Leaders of the San Diego Association of Governments (SANDAG) and conservation groups have announced an $8 million acquisition of 410 acres in Lakeside, to preserve habitats for endangered species.

Carlsbad's Colorescience Gets a Key Retail Presence

Carlsbad cosmetics group Colorescience announced its launch on Sephora.com October 13, further expanding its retail footprint.

Regen BioPharma Names Harry Lander President

Regen BioPharma Inc. announced the appointment of Harry Lander as its new president.

USO San Diego Appoints Arne John Nelson CEO

USO San Diego named has Arne John Nelson as its new chief executive officer.

Tease photo

Local Housing Organization to Open 338 New Affordable Units

San Diego-based Community HousingWorks is slated to open 338 new affordable apartments and townhomes, after announcing an acquisition, completion and planned renovations of properties in San Diego, Vista and Escondido.

Tease photo

PKL Services Receives $11.6M Contract Modification for Foreign Military Work

PKL Services Inc. of Poway received a two-year, $11.6 million contract modification to provide maintenance and operation services to aircraft operated by the Republic of Singapore.

Monday, October 12

Sentek Global Awarded 3 Five-Year Navy Contracts Worth $150 Million

San Diego-based Sentek Global recently announced that it has received three U.S. Navy contracts from SPAWAR.

Qualcomm to Sell Vuforia Business to PTC for $65 Million

Qualcomm Inc. said Oct. 12 that it has agreed to sell its Vuforia business to PTC, a $1.36 billion corporation from suburban Boston.

Astute Medical Inc. Signs Distribution Agreement With Chinese Company

Astute Medical Inc. has signed an agreement with a Chinese pharmaceutical firm for the distribution of its renal risk diagnostic in China. The deal also includes a $20 million investment in Astute.

Court Rules Metropolitan Water District Owes Water Authority $43.4 Million

A San Francisco judge on Friday gave the San Diego County Water Authority another win in its rate case against the Metropolitan Water District of Southern California, finding the MWD owed $43.4 million in prejudgment interest.

Apartments Sold in National City, Oceanside, San Diego

Four San Diego County apartment properties recently changed hands in separate transactions, including a 23-unit National City property that sold for approximately $3.17 million.

Tease photo

Fate Therapeutics CEO Christian Weyer Resigns, Scott Wolchko Named Successor

Fate Therapeutics Inc. announced that Scott Wolchko will succeed Dr. Christian Weyer as president and CEO following Weyer's resignation effective Nov. 30.

Miramar Life Science Office Property Sells for $2.53 Million

Calame Development Inc. of La Jolla recently acquired a Miramar life science office property for $2.53 million, according to brokerage company Newmark Grubb Knight Frank (NGKF).

Tease photo

$2.8 Million Renovation Completed at Oceanside Apartments

REIG Construction of San Marcos recently completed a $2.8 million renovation of the 240-unit Sunterra Apartments in Oceanside, including the addition of a dog park and community area.

Tease photo

Sunday, October 11

SeaWorld Mulls Response to Panel’s Conditional Approval of Blue World

The parent company of SeaWorld San Diego announced that it will “review its options” after the California Coastal Commission approved the park’s $100 million Blue World expansion project on the condition that it stop breeding its captive killer whales.

Tease photo

Qualcomm Inc. Announces Quarterly Dividend, New Server Platform

Qualcomm Inc. wrapped up the week by announcing a quarterly dividend and announcing that a preliminary version of a new server platform for the data center market was available to interested customers.

Carlsbad Software Business Is One of First Cos. to Be Google Certified Publishing Partner

Ezoic has scored a berth as one of the first Google Certified Publishing Partners.

OPKO Health Participates in MabVax Financing Round

MabVax Therapeutics Holdings, Inc., a clinical-stage cancer immunotherapy company, previously announced that it has closed its public offering of 2,500,000 shares of its common stock and warrants to purchase up to 1,250,000 shares of its common stock.

The Business Calendar for the Week of October 12, 2015

Some of the business events planned for the county for the week of October 12, 2015, and beyond.

H.I.G. Capital Acquires T-Bird Restaurant Group

T-Bird Restaurant Group Inc., the exclusive franchisee of the Outback Steakhouse chain in California, announced that is has been acquired by private-equity firm H.I.G. Capital LLC.

S.D. Apartment Property Sells for $7.6 Million

An entity recorded as Courtyard on 68th LLC of Irvine has purchased the 38-unit Courtyard on 68th apartment property, in San Diego’s College/Rolando neighborhood, for $7.6 million, according to brokerage firm ACRE Investment Real Estate Services.

Tease photo

Westcore Purchases Scripps Ranch Industrial Building for $7.3 Million

Westcore Properties has purchased a Scripps Ranch industrial property for $7.3 million, with plans for an extensive renovation and rebranding, the San Diego-based company announced.

Tease photo

Gift Card Company Quippi Corp. Being Acquired By Emida

Quippi Corp., a San Diego company that sells gift cards as fee-free alternatives to money transfers to Mexico, is getting acquired by Orange County’s Emida Inc., the companies said this week.

Turtle Beach, Foxconn Partnership Producing Products

Video game headset maker Turtle Beach Corp. said it had partnered with Chinese manufacturing powerhouse Foxconn Technology Group, formally known as Hon Hai Precision Industry Ltd.

Friday, October 9

The Business Calendar for Week of October 12, 2015

Some of the business events planned for the county for the week of October 12, 2015, and beyond.

T-Bird Restaurant Group Acquired by H.I.G. Capital

T-Bird Restaurant Group Inc., the exclusive franchisee of the Outback Steakhouse chain in California, announced that is has been acquired by private-equity firm H.I.G. Capital LLC.

Qualcomm Announces Quarterly Dividend, New Server Platform

Qualcomm Inc. wrapped up the week by announcing a quarterly dividend and announcing that a preliminary version of a new server platform for the data center market was available to interested customers.

Westcore Buys Scripps Ranch Industrial Building for $7.3 Million

Westcore Properties has purchased a Scripps Ranch industrial property for $7.3 million, with plans for an extensive renovation and rebranding, the San Diego-based company announced.

Tease photo

OPKO Health Participates in Financing Round for MabVax

MabVax Therapeutics Holdings, Inc., a clinical-stage cancer immunotherapy company, previously announced that it has closed its public offering of 2,500,000 shares of its common stock and warrants to purchase up to 1,250,000 shares of its common stock. OPKO Health participated in the financing and was one of the largest investors in the round.

SeaWorld Mulls Response after Panel’s Conditional Approval of Blue World

The parent company of SeaWorld San Diego announced that it will “review its options,” after the California Coastal Commission approved the park’s $100 million Blue World expansion project on the condition that it stop breeding its captive killer whales.

Tease photo

San Diego Apartment Property Sells for $7.6 Million

An entity recorded as Courtyard on 68th LLC of Irvine has purchased the 38-unit Courtyard on 68th apartment property, in San Diego’s College/Rolando neighborhood, for $7.6 million, according to brokerage firm ACRE Investment Real Estate Services.

Tease photo

Thursday, October 8

Blackstone Group Acquiring BioMed Realty Trust in $8 Billion Deal

San Diego-headquartered BioMed Realty Trust Inc. has entered into an agreement to be acquired by affiliates of New York-based Blackstone Group, in an all-cash transaction valued at $8 billion, amounting to $23.75 per share.

Tease photo

Report: Short-Term Rentals Have $285 Million Economic Impact in San Diego

Short-term vacation rentals booked in San Diego through home-sharing sites including Airbnb had an economic impact of $285 million in the city during the past year, according to a newly released report by locally based National University System Institute for Policy Research.

Seismic Warning Systems to Use Local Communications Network for Earthquake Warnings

A business that seeks to provide clients with several seconds of advance notice when an earthquake strikes is expanding in Southern California by buying capacity on a local scientific radio communications network.

AMN Healthcare Services Acquires MillicanSolutions

AMN Healthcare Services Inc. has acquired MillicanSolutions, a physician and executive leadership search firm focused academic medical centers and children’s hospitals.

Tease photo

BioNano Genomics, UCLA to Collaborate on Pediatric Study

BioNano Genomics announced Oct. 8 that it has entered a research collaboration with the University of California, Los Angeles.

Plaza Bank Expands Local Presence By Opening Regional Business Center

Irvine-based Plaza Bank has opened a regional business center in San Diego, the first significant physical presence for the small-business-focused bank.

Home Sales Drop 5% in 12 Month Period

Sales of San Diego single-family homes dropped 5 percent in September compared to the previous year, with 1,822 sales recorded, according to the Greater San Diego Association of Realtors.

Tease photo

Retaining Ex-Qualcomm Talent Key for Region

The most important driver of regional success is not capital or the companies—it’s the talent. Firms and capital go where the talented people are. Regions that attract talented people and keep them through the occasional hiccup are historically the most successful.

Companies Take the Time to Support Wounded Warriors

Local sister companies CUSO Financial Services and Sorrento Pacific Financial hosted a “Lead Forward!” 5K Fun walk/run around San Diego’s bay front during the summer. The 5K kicked off the companies’ 17th annual conference, and 100 percent of the registration fees benefitted the Wounded Warrior Project, which has a goal “to foster the most successful, well-adjusted generation of wounded service members in our nation’s history.” The event was open to attendees and their families. More than $6,100 was raised in support of the charitable organization.

Tease photo

Finding The Openings

WORKFORCE: Many Sectors Are Looking to Hire as Gains in Employment Are Made in Most Major Industries

San Diego’s technology, life sciences and health care sectors remain the region’s largest sources of employment growth and are expected to continue hiring at a steady clip throughout the next year, economists say.

Planners Approve ‘The Conrad’ In La Jolla

The city of San Diego’s La Jolla Community Planning Association recently approved plans for the proposed $65 million Conrad Prebys Performing Arts Center, being developed by the La Jolla Music Society.

Blackstone Acquires BioMed Realty Trust in $8 Billion Deal

ACQUISITION: Firm Cites Premium Value In Selling to Real Estate Giant

San Diego-headquartered BioMed Realty Trust Inc. has entered into an agreement to be acquired by affiliates of New York-based Blackstone Group, in an all-cash transaction valued at $8 billion, amounting to $23.75 per share.

Elcelyx’s New Formulation of Old Drug Targets Big Population

PHARMA: About 40% Of Type 2 Diabetics Not Using Current Drug

Elcelyx Therapeutics has raised $40 million in a Series E financing to drive its lead drug candidate — a tweaked formulation of a popular diabetes medication — to market.

Tease photo

‘Price Gouging’ Incident Puts Biotech Industry on the Defensive

Last month, a major blow hit the biotechnology industry when political and public favor for the field suddenly slipped thanks to a highly-publicized pharmaceutical price hike. The effects of the media firestorm that followed could negatively influence the sector here at home, industry experts say.

Port Seeking Redevelopment Proposals for Harbor Island Land

PROPERTY: Port Also Planning to Consider New Seaport Village Proposals

More transformation is in store for the ever-changing downtown San Diego waterfront, as port district officials seek proposals to redevelop more than 50 acres of prime land at Harbor Island currently housing rental car agencies.

Tease photo

Defense Industry Consolidation Seen as Threat to Competition

Are large defense companies getting too large? It’s an intriguing question. Leaders of the industry’s No. 1 customer — the Pentagon — said they were wary about megamergers. Meanwhile, business sees profitability in mergers, particularly since margins in defense contracting aren’t as high as other sectors.

Robot’s Solar Flair Brightens Office Workers’ Worlds

TECH: Qualcomm Accelerator Client Creates Unusual Lighting Device

It’s widely accepted that an office lit with sunlight rather than artificial light results in happier, healthier workers and boosts productivity.

Tease photo

Northrop Grumman Lands Contracts

The U.S. Air Force plans to send as much as $3.2 billion in work to Northrop Grumman Corp. over the next 10 years to keep its fleet of Global Hawk high-altitude unmanned aircraft technically up to date.

Set Jet Plans Flights Between S.D., San Francisco

TRAVEL: Carrier Operates Its Service As a Membership

Set Jet announced plans to provide daily flights between San Diego’s Lindbergh Field and San Francisco International Airport as soon as January.

Arena Board Decides It’s Time to Replace CEO

PHARMA: Harry Hixson Takes Interim CEO Role During Search for Top Exec

Arena Pharmaceuticals’ Board of Directors has forced CEO and President Jack Lief into retirement. He is also stepping down from the board.

A Little Mystery in Her Life Sciences Success Story

One of San Diego’s brightest life science stars has gone into stealth mode. Tina Nova has left her senior executive position with Illumina to become President and CEO of a new company in San Diego. She won’t divulge its name, only that it is focused on molecular diagnosis of organ-specific diseases in blood.

Bank Taps Talent, Place For Life Science Push

FINANCE: S.D. Base Aligns With Leader’s Connections

San Jose-based Bridge Bank is using San Diego as the base of operations for its newly launched life sciences banking group, aiming to serve biotech, medical device and pharmaceutical companies nationwide in need of multimillion-dollar loans.

Expanding Their Market Share

RETAIL: Haggen Exit Opens Door for Grocers To Grab Prime Locations

If there’s a local company with experience navigating an increasingly tough grocery climate, including finding strategic places to locate where competitors have fled, it’s Point Loma-based Barons Market. The family-run, small-format grocer last fall opened its fifth store in Alpine, in a spot vacated by Fresh & Easy Neighborhood Market. By this December, it plans to open its sixth store in Murrieta, taking about half the space in a building vacated last year by Ralphs.

Tease photo

South County Stats Show Economic Muscle

ECONOMY: Income, GDP Up; Bay Plans May Also Boost Area

South County experienced significant growth outpacing San Diego County within the past couple of years and is expected to keep that momentum with the development of the Chula Vista bay-front.

FAA Flight Path Plan Hits Some Turbulence

TRAVEL: FAA: No Increase In Air Traffic; Residents Wary

Federal authorities’ proposed change in a flight path out of San Diego International Airport has Point Loma residents upset about potential impacts, including noise and hits to home values, though one local aviation consultant says flight-related economic and other effects are likely to be negligible.

Tease photo

Wednesday, October 7

Navy Awards Two Contracts Worth $100 Million to BAE Systems San Diego Ship Repair

BAE Systems San Diego Ship Repair received two contracts collectively worth more than $100 million to cover shipyard work for two U.S. Navy workhorses: a cruiser and a destroyer.

Realty Income Raises $517 Million in Stock Offering

Realty Income Corp. raised total net proceeds of approximately $517 million from its public offering of common stock that closed on Oct. 7, the San Diego-based company reported.

Tease photo

Oceanside RV Park Sold for $9.7 Million

Investment firm Pacific Current Partners of Orange County has acquired Oceanside RV Park in Oceanside for $9.7 million, the company announced.

Tease photo

GA-ASI Awarded Two Army Aircraft Contracts

General Atomics Aeronautical Systems Inc. received two aircraft contracts from the U.S. Army at the end of September.

County's Agricultural Value for 2014 Pegged at $1.82 Billion

San Diego’s agricultural output dropped slightly last year, falling about 2 percent to $1.82 billion, county officials said Wednesday.

Scripps Health Affiliates With Pioneers Memorial Healthcare District

Scripps Health and Pioneers Memorial Healthcare District have entered into an affiliation agreement, signed Tuesday at a ceremony at Pioneers Memorial Hospital in Brawley. The two-year agreement marks the first hospital affiliation for Scripps outside of San Diego County.

Tuesday, October 6

Boston-Based Firm Acquires Torrey Pines Transportation

Torrey Pines Transportation is being acquired by Boston-based Marcou Transportation Group for undisclosed terms, the buyer announced on Oct. 5.

ESET Acquires English Firm DESlock+ for Undisclosed Price

ESET, the maker of computer antivirus software with a North American headquarters in downtown San Diego, recently acquired DESlock+, an English company specializing in advanced computer encryption solutions. Financial terms of the deal were not disclosed.

Mission Valley Office Campus Sells for $29.2 Million

The San Diego office of Kearny Real Estate Co. has acquired the three-building Mission Center Office Park in Mission Valley for $29.2 million, the company announced.

Tease photo

BioTheranostics, DeNovo Sciences Reach Agreement

San Diego’s molecular diagnostic firm BioTheranostics announced Tuesday an agreement with DeNovo Sciences to investigate the feasibility of using BioTheranostics’ proprietary biomarkers for blood-based cancer diagnostics.

August Home Prices Climbed 5.8 Percent Over Last Year

Home values in San Diego and Carlsbad continued to climb in August, rising 5.8 percent over the past year, as home prices appreciated 6.9 percent nationwide, according to a report Tuesday from CoreLogic.

Realty Income Conducts $450 Million Stock Offering

Realty Income Corp. is expected to close Oct. 7 on a public offering of common stock with net proceeds of approximately $450 million, the San Diego-based company announced.

Tease photo

RA Capital Advisors Closes $425 Million Acquisition

San Diego-based investment bank RA Capital Advisors on Tuesday announced pest control giant Rentokil Initial plc bought RA client Steritech Group Inc. for $425 million, which it said was the largest acquisition in the pest control industry.

Tracon Pharmaceuticals Appoints Chief Medical Officer

Tracon Pharmaceuticals, a public biopharmaceutical company in San Diego, announced Tuesday that Dr. Ronald Shazer has been appointed chief medical officer.

Los Angeles Firm Buys Carlsbad Apartments for $112 Million

Decron Properties Corp. has acquired the 450-unit Eaves Carlsbad apartments in Carlsbad for $112 million, the Los Angeles-based company announced.

Tease photo

Monday, October 5

Jack Lief, Arena Pharmaceuticals CEO, Steps Down

Arena Pharmaceuticals Inc. announced that its CEO and President, Jack Lief, has retired from the company at the request of the board of directors. He is also stepping down from the board.

Northrop Grumman Awarded 10-Year Air Force Contract Worth $3.2 Billion

The U.S. Air Force plans to send as much as $3.2 billion in work to Northrop Grumman Corp. over the next 10 years to keep its fleet of Global Hawk high-altitude unmanned aircraft technically up to date.

Michael Reynolds Named CFO of San Diego Regional Chamber

Michael D. Reynolds has been named chief financial officer of the San Diego Regional Chamber of Commerce.

Tease photo

Haggen Looks to Sell Some Stores to Gelson’s, Smart & Final

Operators of Haggen Food & Pharmacy have filed motions with the federal bankruptcy court to sell eight of the retailer’s California stores to Gelson’s Markets, and another 28 in California and Nevada to Smart & Final LLC.

Best Buy, Grace Digital Take New Spaces at Poway Business Park

Retailer Best Buy and consumer electronics company Grace Digital have taken spaces at two newly completed buildings at Poway Corporate Center, after signing leases valued at a total of more than $5.1 million, according to locally based developer Techbilt Companies.

Tease photo

Carlsbad's Johnson & Wood Acquired by Hub International

Chicago-based Hub International Ltd. has acquired the assets of Carlsbad’s Johnson & Wood Insurance Services Inc. for undisclosed terms, Hub announced on Oct. 5.

Mission Valley Office Building Sold for $5.5 Million

An entity recorded as Jim D. Petropoulos Revocable Trust has purchased a Mission Valley office building for $5.5 million, according to brokerage company Colliers International.

Tease photo

Sequenom Inc., South Korea Hospital to Collaborate

Sequenom Inc. announced Monday that it has entered into a clinical collaboration with Seoul National University Hospital.

La Jolla Planning Group Approves $65 Million Performing Arts Center

The city of San Diego’s La Jolla Community Planning Association recently approved plans for the proposed $65 million Conrad Prebys Performing Arts Center, being developed by the La Jolla Music Society.

Tease photo

James Breitmeyer Chosen to Lead Tokalas Inc.

Tokalas Inc. on Monday announced the appointment of Dr. James B. Breitmeyer to the position of president and chief executive officer.

Sunday, October 4

Sorrento Mesa Industrial Park Sold for $90 Million

An affiliate of New York-based Clarion Partners has acquired the five-building Pacific Technology Park in Sorrento Mesa for $90 million, according to CoStar Group and public data.

Tease photo

FAA to Discuss Proposed Airspace Changes at Local Meeting

San Diego International Airport officials will host an Oct. 6 public meeting in Point Loma, to discuss Federal Aviation Administration proposals for flight-path and other changes intended to improve airspace efficiency around Southern California airports.

Orexigen Therapeutics Files New Drug Application for Contrave in South Korea

San Diego-based Orexigen Therapeutics Inc. announced that it has filed a new drug application with the Ministry of Food and Drug Safety in South Korea for Contrave as a monotherapy for weight management in overweight or obese adult patients.

The Business Calendar for the Week of October 5, 2015

Some of the business events planned in the country for the week of October 5, 2015, and beyond.

California Economic Activity Index Down Slightly in July

Comerica Bank’s California Economic Activity Index declined in July, decreasing 0.3 of a percentage point to a level of 120.9.

Westfield Mission Valley Welcoming Four New Tenants

Mall operator Westfield Corp. recently announced four new tenants at its Westfield Mission Valley retail center, including the newly opened Yard House restaurant.

Tease photo

Friday, October 2

The FAA to Discuss Proposed Airspace Changes at Local Meeting

San Diego International Airport officials will host an Oct. 6 public meeting in Point Loma, to discuss Federal Aviation Administration proposals for flight-path and other changes intended to improve airspace efficiency around Southern California airports.

Sorrento Mesa Industrial Park Sells for $90M

An affiliate of New York-based Clarion Partners has acquired the five-building Pacific Technology Park in Sorrento Mesa for $90 million, according to CoStar Group and public data.

Tease photo

Westfield Mission Valley Greets Four New Tenants

Mall operator Westfield Corp. recently announced four new tenants at its Westfield Mission Valley retail center, including the newly opened Yard House restaurant.

Tease photo

Orexigen Files New Drug Application for Contrave in South Korea

San Diego-based Orexigen Therapeutics Inc. announced that it has filed a new drug application with the Ministry of Food and Drug Safety in South Korea for Contrave as a monotherapy for weight management in overweight and obese adult patients.

Business Calendar for Week of October 5, 2015

Some of the business events planned in the county for the week of October 5, 2015, and beyond.

Report Shows Impressive South County Economic Growth, Topping Overall County Rate

The 23 ZIP codes defining South County outpaced the overall county’s growth in GDP, personal income, and employment from 2010 to 2013, according to a report from the National University System Institute for Policy Research.

Thursday, October 1

San Diego Private Bank to Form Holding Company

San Diego Private Bank said it will soon form a holding company for the bank, a corporate structure that allows for easier access to capital markets and greater structural flexibility.

Elcelyx Therapeutics Raises $40 Million in Series E Round

San Diego-based Elcelyx Therapeutics announced Sept. 30 that it has secured $40 million in a Series E financing.

San Diego County’s Pension Fund Reports Net Returns of 2.68% for Fiscal Year

San Diego County’s pension fund reported net returns of 2.68 percent for the fiscal year, ending on June 30, giving the fund a year-end total of $10.3 billion.

Entra Health Launches Video Consult Application

San Diego health IT firm Entra Health announced Oct. 1 the launch of a new video consult application.

Community HousingWorks Spins Off Home Buying Programs

Community HousingWorks (CHW), a nonprofit organization based in San Diego dedicated to helping people find home stability, has spun off its home buying programs and transferred them to Springboard, a national consumer financial services nonprofit.

Bridgepoint Education Appoints New CFO

The board of directors at Bridgepoint Education Inc., a provider of postsecondary educational services, announced the hiring of Kevin Royal as the company’s new executive vice president and chief financial officer, effective Oct.1.

Consumers Demand Purpose-Driven Capitalism

In May 2015, the University of San Diego’s Center for Peace and Commerce held San Diego’s inaugural Conscious Capitalism event focused on purpose-driven companies and strategies. The shifting global economy, favoring purpose-driven or “for-benefit” organizations, will give consumers power such as never before to measure and determine their patronage based on how a company gives back.

A Thoughtful Approach to Animal Welfare

Tourism is among our region’s leading business sectors, and SeaWorld San Diego has been a centerpiece of that sector for 50 years. SeaWorld has existed alongside the San Diego Zoo and the San Diego Zoo Safari Park as a zoological trifecta giving visitors an opportunity to experience wildlife in settings unmatched anywhere in the world.

United Way Recognizes Top-Notch Volunteers King, Vance

United Way of San Diego County announced Maureen King and Jonathan Vance as award winners for their consistently outstanding community leadership and volunteerism. They recently were honored during the nonprofit’s 95th birthday party at Cohn Restaurant Group’s new Coasterra. The award is named for James Mulvaney, who maintained involvement in numerous nonprofit boards and organizations for 50 years.

Tease photo

With Patagonia On Board, Co.’s Green Wetsuit May Catch On

SPORT: Yulex Corp. Gets Natural Rubber From Guayule Plant

San Diego is not only home to the first “green” surfboard made from algae, but it also claims a wetsuit made from desert shrubs. It smells like pine trees and eucalyptus, a far cry from that hot rubber smell of a neoprene suit left in the backseat of a surfer’s car.

Tease photo

Surfing's Clean Break

SPORT: An Entrepreneur and a Scientist Look to Re-Shape Surfboard Making With an Algae-Based Board

The wave of algae products ― from baby formula to biodiesel ― has a new application: surfing.

Tease photo

Brothers See Protection in Their Products, Distribution System

MANUFACTURING: Optifuse Finds Growth In Loyalty, Relationships

OptiFuse, a manufacturer of circuit protection components that was formed in 2000, has found steady growth by forming close alliances with distributors throughout North America.

Tease photo

The Need for Speed Puts Qualcomm in Verizon’s 5G Sandboxes

The Need for Speed Puts Qualcomm in Verizon’s 5G SandboxesSpeed, however, may be only one advantage of 5G, which ought to become common around 2020 but is being tested now.

Office Building Groundbreaking to Get Makers Quarter Started

PROPERTY: East Village Mixed-Use Project Would Cost $1B Fully Built-Out

After moving in slow fits and starts since it was announced in 2013, developers now say that the mixed-use, multiblock Makers Quarter in East Village should see its first significant groundbreakings within the next six months.

Co. Counts on Technology in Effort to Build a ‘Better Ballot’

SOFTWARE: Looks to Update Process From Registration to Voting

It could be the end of paper ballots, hanging chads and outdated, arcade-style voting machines thanks to San Diego-based cloud developer Everyone Counts. The software-as-a-service (SaaS) company has raised $20 million to push its electronic voting technology into more government elections. If the company’s founder has her way, the technology may even spread to elections in less developed countries ― where voting is dangerous and corruption prevalent.

Tease photo

Suja Juice Moving to Oceanside

Popular beverage company Suja Juice is moving from Miramar to Oceanside, and more than doubling its corporate space along the way, according to commercial real estate group Cushman & Wakefield.

Haggen Laying Off 3,430 California Workers

RETAIL: Grocer to Cut 1,200 Locally in Closing of 19 Stores

Grocer Haggen Food & Pharmacy has filed layoff notices with state and local officials, indicating the struggling retailer plans to lay off 3,430 workers as it closes 67 California stores by Nov. 24, including 19 in San Diego County.

Bridge Bank To Base Life Sciences Group in S.D.

FINANCE: Focus Will Be on Sector’s Specific Capital Needs

Bridge Bank announced the launch of a new national banking group to be based in San Diego — the Life Sciences Group (LSG) — which will offer customized financial solutions to companies operating in the life sciences sector.

Hop Star Silva Left His Mark On Beer Scene

Sometimes the talent does leave San Diego. Brewmaster Chuck Silva, whose arrival in 2004 coincided with the beginning of Green Flash Brewing Co.’s growth to the fourth-largest craft brewer in the county, has resigned to start Silva Brewing Co.. He and his wife, Mary Jo, will be building an operation in or nearby his hometown of San Luis Obispo.

Ready or Not: New Credit Cards Arrive

FINANCE: Changes in Liability Practices to Be Implemented

Visa, MasterCard and American Express are hoping to speed adoption of an anti-fraud technology for credit and debit cards this month by warning retailers they may be liable for fraudulent activity in their stores unless they get new card readers.

Co.’s Space Mission Is To Protect, Deliver Data

TECH: Space Micro Takes Shot At More Commercial Business

In a few years, NASA will spend $87 million to send its latest satellite into space, hoping to find small planets roughly the size of Earth. The satellite, dubbed TESS, will track the brightness of a half-million stars over two years, watching for a flicker caused as a planet crosses in front of the star it is orbiting.

Tease photo

Hockey Expects Warm Reception on S.D. Ice

SPORT: Gulls Bank on Ties to Ducks, Higher Level of Play

Seven minor league hockey teams have tried to make it in San Diego since 1944, none lasting much more than a decade and many folding as their leagues shut down. So it may not immediately be clear why yet another team is reviving the San Diego Gulls name this year to bring professional hockey back to Valley View Casino Center, starting Oct. 10. But the shared name is one of the only things connecting the new Gulls to their ultimately unsuccessful predecessors.

Tease photo

Downtown View

PROPERTY: A Project and A Purchase Turn Developer’s Attention Back to City’s Center

Nearly 35 years after he built his earliest office and hospitality projects in downtown San Diego, including the region’s first high-rise waterfront hotel, Douglas Manchester’s primary development focus is now returning to that neighborhood.

Tease photo