Stories for August 2016

Wednesday, August 31

Local Group Applies to FDIC to Create New Bank

A group of San Diegans this month filed an application with the Federal Deposit Insurance Corp. seeking approval to form a new community bank.

Court Dismisses Lawsuit over Tourism Marketing District Fee

The Superior Court of California has issued a tentative ruling dismissing a lawsuit filed over a hotelier-approved assessment on hotel room bills, which funds operations of the San Diego Tourism Marketing District.

Qualcomm Life, Philips Partnering on Connected Health Devices, Informatics

San Diego wireless medical device company Qualcomm Life Inc. will leverage the health-care data management expertise of Netherlands-based Royal Philips under a partnership announced Aug. 31.

Senomyx Receives Approval to Sell Flavor Ingredients in China

Senomyx Inc., a local biotech that makes flavor enhancers, has landed regulatory approval in China to sell two of its product ingredients: Sweetmyx SR96 and Bittermyx BB68.

Salk Institute to Co-Lead Effort to Find Treatments for Schizophrenia, Bipolar Disorder

San Diego research facility Salk Institute for Biological Studies is co-leading a $15.4 million stem cell-based effort to find drugs that work against schizophrenia and bipolar disorder.

Nobel Prize Winning UCSD Professor Roger Tsien Dies

Roger Tsien, the University of California, San Diego School of Medicine professor who shared the 2008 Nobel Prize in chemistry, has died at the age of 64.

Palomar Health Joins American Joint Replacement Registry

Palomar Health announced it has joined the American Joint Replacement Registry, a move that will give the Escondido-based health-care system reports and a database allowing it to compare its own performance with national benchmarks, ideally leading to better patient care.

Qelzal Corp. Names Benson Its CEO.

Qelzal Corp. has named Rob Benson its CEO.

ICW Group Insurance Cos. Names Guthrie to Newly Created VP Role

San Diego-based ICW Group Insurance Cos. on Aug. 31 named Kristin Guthrie vice president of customer experience, a newly created position.

NASSCO Receives $511M Contract for 2 Vessels

SHIPPING: Ships Able To Haul Containers And Other Cargo

General Dynamics NASSCO received a $511 million contract from Matson Navigation Co. Inc. to build two ships able to haul containers and other cargo on routes to Hawaii, the companies announced.

One Way the State Competes on Taxing Issues

You don’t have to be an entrepreneur or business owner to know that California is widely-considered a difficult state to do business in.

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Grants Allow Kids to Learn Valuable Lessons from Nature

The San Dieguito River Valley Conservancy announced a $25,000 grant from The San Diego Foundation to expand the conservancy’s Watershed Explorers Program.

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A New Kind of Policy to Safeguard Small Business Finances

Tech: New Insurance May Protect Companies From Cybersecurity Losses

About 18 months ago, a cybercriminal tricked a Regents Bank client into transferring $150,000 out of his business account.

Lawyer Fights for Qualcomm, Under Qualcomm in Varied Career

LAW: Strauss Led Outside Team in Big Contamination Case

High-tech and low-tech. Steve Strauss considers the contrast and smiles. The issues that cross his desk run the gamut. Strauss is a trial lawyer, a partner with Cooley LLP, with an office in San Diego.

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Cybersecurity’s Shared Concerns

Private Sector Becoming Proactive; Board Should Be Regularly Briefed

The threat of compromise by cybercriminals is far from theoretical for major San Diego businesses such as chip maker Qualcomm Inc. and medtech giant Illumina Inc.

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Ignyta Hopes Its Drug Results Will Trump Previous Bad Timing

PHARMA: Precision Medicine Therapeutic Shows Promise

Few biotechs were untouched by the gloomy market conditions of the past year, and local drugmaker Ignyta Inc. was no exception. But despite the company’s fall from the limelight, Ignyta could be nurturing a valuable asset — and one that analysts believe is being overlooked.

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Mobile Changes Everything

Bitmo Sees Dollar Signs in Creating a Platform That Can Unify a Variety of Payment Apps

J. Michael Smallwood hates his wallet.

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Can San Diego Defend Against Possible Base Closure Threats?

Geopolitics are complex enough to make your head spin. From the Middle East to the China Sea, there are thorny and complicated disputes. But within the borders of the United States is something that might be just as complicated: the politics of Pentagon spending.

Sempra’s Ensenada Terminal Seen as Option In Event of Shortage

ENERGY: Regulatory Hurdles Would Have To Be Navigated

A liquefied natural gas terminal Sempra Energy owns near Ensenada may help Southern Californians get through the winter — but it may depend on state regulators waiving anti-competitive rules limiting transactions between affiliate companies.

Professor Sees Big Role of Real Estate in Most Business Sectors

EDUCATION: New SDSU McMillin Center Director to Expand Interest, Diversity

After nearly three decades involved with the subject as an educator and researcher, Elaine Worzala finds it hard to fathom why many business career tracks don’t require at least some training in the realm of real estate.

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Home of The Month - A Summer Palace

Referred to as the “Downton Abbey of Coronado,” this historic property is one of Coronado’s most palatial estates.

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UC San Diego Health Delivers a Timely Investment in Care

MEDICINE: New $943M Medical Center to Fill Growing Need in County

The $664 million UC San Diego Health originally expected to spend building a new hospital in La Jolla would have been quite a bargain, even if it didn’t look that way when the plan was announced April 1, 2010. (And no, it wasn’t an April Fools’ joke).

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‘Probiotics’ for Skin Germinate Partnership

BIOTECH: Xycrobe, J&J Enter Research Deal

San Diego’s Xycrobe Therapeutics has landed a sought-after partnership with Johnson & Johnson to research how “good bacteria” can be harnessed for skin care products.

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Software Firm Realizing Big Power in Microgrids

ENERGY: CleanSpark Seeks Solar Sweet Spot

The recently acquired Poway energy software company that developed the microgrid running Camp Pendleton’s power system has completed the initial phase of a larger version serving a commercial client in Borrego Springs.

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Some See Employers as Part of Housing Solution

HOUSING: Cos. May Have to Act to Keep S.D. Competitive

It didn’t sound like real estate advisor Gary London was toning things down in his recently published assessment that San Diego’s housing shortage has become an impending crisis for local employers and that the latest approach to solving it could backfire and contribute to an “unprecedented economic challenge.”

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Engineers Race to Develop Lucrative Software

Automobiles are not just a Detroit thing. The auto industry has been in Southern California for decades — several automakers have designed cars in San Diego — and Detroit’s marquee industry could very easily have a future in the region.

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Driving Change

Driverless Cars’ Off-Road Impact Will Be Big

Major business players in the automotive sector are now placing multimillion-dollar bets on a future where self-driving cars take people wherever they want to go.

Tuesday, August 30

Orexigen Therapeutics Enters Commercialization Agreement With Canadian Company

Local drugmaker Orexigen Therapeutics Inc. has inked a commercialization deal with Valeant Canada, a subsidiary of the global pharma Valeant Pharmaceuticals International Inc.

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Qualcomm and Boehringer Ingelheim to Work on Digital Tracking Device to Monitor Inhaler Use

San Diego-based Qualcomm Inc. and Boehringer Ingelheim Pharmaceuticals Inc. announced Aug. 30 that they will jointly develop a small, wireless device to track patients’ use of the Connecticut company’s Respimat inhaler for patients with chronic obstructive pulmonary disease.

Hylton Named Executive Director of Contextual Robotics Institute at UCSD

Officials at the University of California, San Diego announced on Aug. 29 that Todd Hylton of Brain Corp. is joining the university’s Contextual Robotics Institute as executive director.

Biocept Inc. Announces Deal With Teneovita for Marketing, Distributing Diagnostic in Canada

San Diego’s Biocept Inc. has struck a new deal with Teneovita Medical under which the Vancouver-based provider will market and distribute Biocept's liquid biopsy testing services.

Cubic Corp. Receives $80M Task Order for Military Training Support

Kearny Mesa-based Cubic Corp. said on Aug. 29 that it received a five-year, $80 million task order to support aviation training at five U.S. Navy and U.S. Marine Corps bases.

Developer Begins Work on $25M Chula Vista Apartment Project

Los Angeles-based LaTerra Development LLC has started construction on Stone Creek Casitas, a $25 million project in Chula Vista that will have 97 garden-style apartments.

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Maritime Museum Debuting Tours of San Salvador Replica

A $6.2 million replica of the ship that first brought explorer Juan Rodriguez Cabrillo to local shores in 1542 is scheduled to make its public debut for tours Sept. 3-5 at the Maritime Museum of San Diego.

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Miramar Industrial Building Sells for $3.94 Million

A San Diego buyer recorded as RM-Use LLC has acquired a Miramar industrial building for approximately $3.94 million, according to CoStar Group and public data.

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Monday, August 29

Scripps Partnering With MD Anderson for Cancer Care Program

Scripps Health joined the University of Texas MD Anderson Cancer Center Aug. 29 in announcing an agreement to partner on the creation of Scripps MD Anderson Cancer Center, a clinically integrated, comprehensive regional program based in San Diego that will compete against the area’s most prominent cancer care provider, UC San Diego Health System.

Oceanside Retail Center Sold for $23.2 Million

Illinois-based InvenTrust Properties Corp. has acquired the Old Grove Marketplace retail center in Oceanside for approximately $23.2 million, the company announced.

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Datron Gets $495M Foreign Military Sales Contract

Afghanistan continues to be a plum market for Datron World Communications.

Neurocrine Biosciences Files New Drug Application With FDA

Local biopharma Neurocrine Biosciences Inc. has filed a New Drug Application application with the U.S. Food and Drug Administration for its movement disorder drug, valbenazine.

Callaway Golf Acquires Toulon Design

Carlsbad-based Callaway Golf Co. said on Aug. 29 that it agreed to acquire Vista-based Toulon Design for undisclosed terms. Toulon specializes in putters.

San Diego Firm Buys Santa Rosa Apartments for $43 Million

San Diego-based Davlyn Investments Inc. has purchased a 138-unit apartment community in Santa Rosa for $43 million, the company announced.

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Capt. Joel Roos Taking Command of Naval Medical Center San Diego

Former U.S. Seventh Fleet Surgeon Capt. Joel Roos will assume command Aug. 30 of Naval Medical Center San Diego, relieving Capt. José Acosta, who will become lead medical officer of the locally based U.S. Third Fleet, the military announced.

Seacoast Commerce Banc Holdings Announces Dividend

San Diego-based Seacoast Commerce Banc Holdings, parent company of Seacoast Commerce Bank, on August 29 announced a 5-cent per dividend share.

Escondido Office Building Sells for $6.9 Million

Torrance-based Showprop Pico Rivera LLC has acquired a 25,380-square-foot office building in Escondido for $6.9 million, according to the seller, San Diego-based SENTRE Inc.

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Sunday, August 28

McCain Inc. Agrees to Sell 100% of Its Shares to Swarco

The owner of Vista-based McCain Inc., which makes traffic control equipment for roads and highways, said Aug. 26 that it agreed to sell 100 percent of its shares to Austria-based Swarco.

SDCCU Increases Membership 10%

San Diego County Credit Union’s assets grew about 1.4 percent in the second quarter reaching nearly $7.6 billion, the credit union said Aug. 25 in an earnings report.

Grocer Smart & Final Opening Third Chula Vista Store

Commerce-based discount grocer Smart & Final plans an Aug. 31 opening for a new Chula Vista store at 40 N. Fourth Ave, Unit D. It will be the company’s third store in Chula Vista and its 27th in San Diego County.

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The Business Calendar for the Week of August 29, 2016

Some of the business events planned in the county for the week of August 29, 2016, and beyond.

Report Calls for Enhanced ‘Placemaking’ in San Diego

The city of San Diego can do more to meet community and business goals by creating a sense of place in its individual neighborhoods, according to a new report by the regional nonprofit Circulate San Diego.

Lakeside Apartment Property Sold for $3.3 Million

San Diego investor Roger Carr has acquired a 20-unit apartment complex in Lakeside for $3.3 million, according to brokerage firm Apartment Consultants Inc., also known as ACI.

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Duffy Named CEO of DEI Holdings Inc.

Kevin Duffy has been named CEO of DEI Holdings Inc., the Vista-based holding company for consumer electronics and auto electronics brands such as Polk Audio and Viper.

Friday, August 26

Vista-Based McCain Inc. Agrees to Sell 100% of Its Shares to Swarco

The owner of Vista-based McCain Inc., which makes traffic control equipment for roads and highways, said Aug. 26 that it agreed to sell 100 percent of its shares to Austria-based Swarco.

Report Calls for Enhanced ‘Placemaking’ in S.D.

The city of San Diego can do more to meet community and business goals by creating a sense of place in its individual neighborhoods, according to a new report by the regional nonprofit Circulate San Diego.

Business Calendar for Week of August 29, 2016

Some of the business events planned in the county for the week of August 29, 2016 and beyond.

SDCCU Increases Its Membership Nearly 10%

San Diego County Credit Union’s assets grew about 1.4 percent in the second quarter reaching nearly $7.6 billion, the credit union said Aug. 25 in an earnings report.

Grocer Smart & Final Is Opening Third Chula Vista Store

Commerce-based discount grocer Smart & Final plans an Aug. 31 opening for a new Chula Vista store at 40 N. Fourth Ave, Unit D. It will be the company’s third store in Chula Vista and its 27th in San Diego County.

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Lakeside Apartment Property Sold for $3.3M

San Diego investor Roger Carr has acquired a 20-unit apartment complex in Lakeside for $3.3 million, according to brokerage firm Apartment Consultants Inc., also known as ACI.

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Thursday, August 25

Investment Shows Chargers Willing to Play Ball

It is a great source of community pride, and a powerful economic engine, to have the Chargers and Padres in San Diego. For decades, our beloved sports teams put San Diego in the national spotlight. It is hard to imagine what it would be like without the San Diego Chargers being in our collective lives for half a century.

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Fundraiser Supports Seniors in Need At Seacrest Village

Guardians of San Diego’s 25th Annual Golf & Tennis Tournament was held at the Del Mar Country Club and presented by the William Gumpert Foundation.

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Firm Adds Experienced Employment Law Attorney to Its Team

Tami Penner has joined Paul, Plevin, Sullivan & Connaughton, a management-side labor and employment law boutique, as senior counsel.

Tri-City, UC San Diego Health Finalize Affiliation Agreement

MEDICINE: Tri-City Expects to Get More Patients and Doctors

Tri-City Healthcare District and UC San Diego Health have finalized an affiliation agreement under which the university-based system will introduce new physicians and medical services to North County, while the hospital organization and its physicians gain access to additional insured patients.

For Hospitals, Every Staff Member Is Part of Security Team

MEDICINE: Facilities Rely On Training, Technology And Awareness of Threats

Security issues loom larger than ever for hospitals these days, particularly in the aftermath of recent national and local incidents. But many San Diego-area medical centers say they are adapting well, and even getting out in front of a set of guidelines Cal-OSHA expects to release soon for preventing workplace violence.

Building A Powerhouse

Tijuana’s Manufacturing and S.D.’s Medical Cos.’ Interests Should Align, But Will They?

Cali Baja has become the world mecca of medical device manufacturing, and yet many companies — even here in San Diego — are choosing to do their manufacturing elsewhere.

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National Funding’s Lending Strategy Proves to Be on Target

FINANCE: Small Biz Lender Expects $75M In Revenue for 2016

While online lenders such as Prosper Marketplace and Lending Club that facilitate peer-to-peer lending are struggling, a San Diego-based small business lender expects to rake in $75 million in revenue by year’s end.

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ViaSat Gets 2 Pentagon Contracts

The U.S. Navy’s satellite network is trusty, but it needs an update. So it has tapped ViaSat Inc. for some help.

The New Home Co. Is Expanding Into San Diego County

REAL ESTATE: OC Firm to Build 133 Homes In Civita Development

New Home Co. has bought land for its first homebuilding project in San Diego, and is also expanding its reach in Orange County through a new project at the La Floresta development in Brea.

Wave of Renovations and Redevelopments Hits the Village

Whatever you call it, the Village of La Jolla — aka Downtown La Jolla, aka La Jolla Cove — has been on a tear for the past two years when it comes to commercial real estate.

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Lessen The Burden

Software Takes Much of the Pain Out of Filing Development Profiles on Children

Gene Shi and Lala Zhang probably would not have built their particular business without the arrival of their daughter, Audrey.

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Former Qualcomm Executive Touts Intel’s 5G Ambitions

Intel Corp. sees a significant role for itself in the ultrafast, fifth-generation wireless communications system due out in the next few years. The business “intends to play a unique role in the end-to-end deployment of 5G,” said Murthy Renduchintala, the second-highest ranking executive with the Silicon Valley chip maker.

Airgain’s Action Breaks San Diego’s 15-Month IPO Drought

TECH: Antenna Maker Expects to Have at Least $9.8M to Work With

After a 15-month absence, a rare bird called the IPO returned to San Diego.

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Reinterpretation of Rule Could Be Costly for Card Clubs

GAMING: Tribes Get Stricter Interpretation Of Banker Rotation Rule

The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost local card rooms, including four in San Diego County, millions of dollars in revenue each year.

Toy Technology Unleashed: Robotic Dog Groomed for Success

TECH: Co.’s Toys Aim to Take Advantage Of Emphasis on STEM

It’s almost noon and the sidewalks of La Jolla are busy with people walking their dogs.

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Bridge Fund’s Aim Is To Get Cash to Cos.

FINANCE: Funding’s Focus Is New Crowdfunding Option

New federal regulations that went into effect earlier this year have loosened the rules around how startups seeking capital can leverage individuals’ interest in supporting new enterprises — and some local businesspeople are positioning themselves to benefit.

NASSCO Receives a $511M Ship Building Contract for Two Vessels

General Dynamics NASSCO received a $511 million contract from Matson Navigation Co. Inc. to build two ships able to haul containers and other cargo on routes to Hawaii, the companies announced Aug. 25.

Viking Therapeutics Signs $12.5 Million Stock Purchase Agreement with Aspire Capital

La Jolla-based Viking Therapeutics has entered into a $12.5 million common stock purchase agreement with Aspire Capital Fund LLC, Viking announced Thursday.

JLL Report: San Diego Life Science Leasing Remains Strong

Tenant demand for life science real estate in San Diego remains robust so far in 2016, even as leasing activity has declined from levels seen in the first half of 2015, according to a new report from brokerage firm JLL.

NASSCO to Christen and Launch Petroleum Tanker, Constitution

General Dynamics NASSCO plans to launch the 610-foot petroleum tanker Constitution into San Diego Bay on Aug. 27. The ceremony — also planned to include the traditional christening with a champagne bottle — will be open to the public.

County Construction Starts Rose 5% in in First 7 Months of 2016

San Diego County’s construction starts increased five percent from a year ago in the first seven months of 2016, with projects totaling more than $2.17 billion in value, according to the latest monthly figures from research firm Dodge Data & Analytics.

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Upscale Home-Furnishings Retailer Pirch Names Dorigo President

San Diego-based home retailer Pirch has hired Andrea Dorigo as president, the company announced Aug. 25.

CONNECT Partners with DeskHub, Opens New Location

Local startup accelerator, CONNECT, is partnering with DeskHub, one of San Diego’s biggest coworking spaces.

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Marketing Division Gives SDG&E Voice on Issue

ENERGY: CCA Energy Buying Option at Center of Utility’s Move

San Diego Gas & Electric Co. has become the first investor-owned utility in California to create a shareholder-funded marketing division to speak up about the growing number of local organizations being proposed to sell electricity to residential users.

Carlsbad Hilton Garden Inn Gets New Management

Atlanta-based Davidson Hotels & Resorts was recently named manager of the 161-room Hilton Garden Inn Carlsbad Beach, at 6450 Carlsbad Blvd.

JPMorgan Chase & Co. Announces $600,000 Grant to Accion

The San Diego branch of global nonprofit microlender Accion will receive a $600,000 grant in two installments from JPMorgan Chase & Co., the organization announced Aug. 25.

Local Retail Market Stays Safely Insulated

PROPERTY: Online Buying, Closures Don’t Dent Market

Just two years after Brixton Capital acquired a vacated former Target store site in Chula Vista, four major retailers will soon be sprouting up to take its place.

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The Employees Benefit

ECONOMY: Millennials, Changing Labor Market Make Work Perks a Must

It’s sad, but true: many workers feel disposable, and employers do little to discourage the feeling, according to market research.

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Wednesday, August 24

Skincare Co. Curology Raises $15 Million in Series B Round

Prescription skincare company Curology, formerly known as PocketDerm, has raised $15 million in a Series B financing round, the company announced Wednesday.

Escondido-Based Herman Construction Gets $15.9 Million Army Contract

The U.S. Army said on Aug. 23 that it awarded Herman Construction Group Inc. of Escondido a contract worth $15.9 million.

Todd Young Appointed CFO at ACADIA Pharmaceuticals

San Diego drugmaker ACADIA Pharmaceuticals Inc. has appointed Todd Young as executive vice president and chief financial officer.

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Kratos Awarded $20 Million Contract

Kratos Defense & Security Solutions Inc. will play a part in getting the U.S. Air Force’s new aerial refueling tanker off the ground.

Darryl Albertson Named Cubic Corp.'s First Diversity Officer

Cubic Corp. has named Darryl Albertson as its chief human resources and diversity officer.

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Chargers’ Consultants Tout Benefits of Downtown ‘Convadium’

Consultants for the San Diego Chargers touted “significant positive impact” from a proposed $1.8 downtown stadium and convention facility, as the team unveiled final results of a 90-page consulting study that it commissioned.

Tuesday, August 23

Cubic Corp. to Lease Space in Otay Mesa

Cubic Corp. is leasing a 39,000-square-foot facility in Otay Mesa to complement its Tijuana manufacturing space.

Hyperlight Energy Chosen to Participate in DOE Program

The U.S. Department of Energy has chosen La Jolla-based clean tech company Hyperlight Energy as one of 43 small businesses that will work with the DOE’s national labs to "accelerate the transformation toward a clean energy economy," the department announced Tuesday.

Sharp Grossmont Medical Group Acquired by Tennessee Co.

A physician services organization based in Knoxville, Tenn., has acquired all operations of the medical group that staffs and manages Sharp Grossmont Hospital’s emergency department.

Local Hotel Revenue Up 3.5 Percent in First Seven Months of 2016

San Diego County hotel revenue rose 3.5 percent from a year ago, topping $1.6 billion for the first seven months of 2016, even as occupancy dipped 0.4 percent to 78.4 percent, according to the latest monthly data from research firm STR.

Sophiris Bio Inc. Shares Slide After Stock Offering

Shares of Sophiris Bio Inc. were tanking Tuesday on news of the company’s secondary stock offering.

CONNECT Launches Investor Syndicate to Fuel Startups

San Diego’s business accelerator CONNECT is launching a new investor syndicate to help fund “disruptive” technology and life science startups in San Diego.

Zumwalt Headed to San Diego After Commissioning

The U.S. Navy plans to send its futuristic destroyer Zumwalt to San Diego after the ship’s Oct. 15 commissioning ceremony in Baltimore.

Sullivan Solar Power Hires Ness as VP of Sales and Marketing

San Diego-based Sullivan Solar Power announced it has hired Bill Ness as vice president of sales and marketing.

Tri-City Healthcare, UC San Diego Health Finalize Affiliation Agreement

Tri-City Healthcare District and UC San Diego Health have finalized an affiliation agreement under which the university-based system will introduce new physicians and medical services to North County, while the hospital organization and its physicians gain access to additional insured patients.

Monday, August 22

Pentagon Taps ViaSat for Two Contract Awards

The U.S. Navy’s satellite network is trusty, but it needs an update. So it has tapped ViaSat Inc. for some help.

Christina Spence Named Executive Director of Escondido Skilled Nursing Facility

Christina Spence has been named executive director of the Life Care Center of Escondido, a skilled nursing and rehabilitation facility.

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San Diego Hunger Coalition Announces Board Changes

The San Diego Hunger Coalition announced changes to its board of directors.

Fate Therapeutics Raises $10.3 Million

San Diego’s Fate Therapeutics has raised $10.3 million in an equity deal, according to a recent form filed with the Securities and Exchange Commission.

Matt Savant Appointed President of Business Operations for San Diego Gulls

Matt Savant, a resident of San Marcos, has been named President of Business Operations for the San Diego Gulls of the American Hockey League.

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Land Brokerage Company Opens Office in San Diego

Irvine-based land brokerage firm Province West has established an office in San Diego, managed by Vice President Eric Weitz. The expansion follows a recently announced strategic alliance between Province West and Scottsdale, Ariz.-based Nathan & Associates Inc.

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Zenith Technologies Grows West Coast Operation With New Office in S.D.

Ireland-based Zenith Technologies is opening a new site in San Diego to meet demand for its services on the West Coast.

New San Diego Retirement Community Planned after $18.5M Land Purchase

Carlsbad-based Continuing Life Communities has acquired a 53-acre land parcel in San Diego’s Scripps Ranch neighborhood for $18.5 million, with plans to develop a new continuing care retirement community.

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Singlera Genomics Raises $20 Million in Series A Round

Local startup Singlera Genomics has raised $20 million in a Series A round, the company announced Monday.

New Restaurants Joining Roster at Del Sur Retail Property

Locally based Waypoint Public, Board & Brew, and Piacere Mio are among four new restaurants joining the tenant lineup at Del Sur Town Center, a new retail property in northeastern San Diego’s Del Sur neighborhood.

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Sunday, August 21

Huntley Paton Named Publisher of San Diego Business Journal

Huntley Paton has been named president and publisher of the San Diego Business Journal effective Sept. 1. He will succeed longtime business journal Publisher Armon Mills, who will continue in a role as publisher emeritus.

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Sorrento Mesa Office Buildings Sold for $28 Million

New York-based Angelo, Gordon & Co. has acquired a two-building Sorrento Mesa office property for $28 million, according to brokerage firm JLL.

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SDG&E Gets State Approval to Form Independent Marketing Division

San Diego Gas & Electric has won state approval to form an independent marketing division it says will educate consumers about entities — several of which have been proposed locally — that would compete with the utility by selling electricity directly to residential users.

California Records 4% Increase in Construction Employment Over 12 Months

Of the 39 states in which construction employment rose between July 2015 and July of this year, California added the most construction jobs, according to a report from the Associated General Contractors of America.

The Business Calendar for the Week of August 22, 2016

Some of the business events planned in the county for the week of August 22, 2016, and beyond.

SDG&E Gets OK to Build Energy Storage Projects in Escondido and El Cajon

State regulators have signed off on San Diego Gas & Electric’s proposal to build lithium-ion battery projects in Escondido and El Cajon capable of storing a combined 37.5 megawatts of energy.

Two San Diego-Based Environmental Companies Will Compete for Navy Contracts

Two San Diego-area businesses received U.S. Navy contracts to provide habitat enhancement services on the Navy Department’s sprawling network of bases in Arizona, California and Nevada.

DICK'S Sporting Goods Acquires San Diego-Based Affinity Sports

DICK'S Sporting Goods, a U.S.-based, full-line omni-channel sporting goods retailer, announced the acquisition of Affinity Sports, a sports management technology company based in San Diego.

BAE Systems San Diego Awarded Second-Year Contract Options for Navy Ship Modernization Projects

BAE Systems San Diego Ship Repair is among seven companies awarded second-year contract options on U.S. Navy ship modernization deals.

Friday, August 19

Huntley Paton Is Named Publisher of San Diego Business Journal

Huntley Paton has been named president and publisher of the San Diego Business Journal effective Sept. 1. He will succeed longtime business journal Publisher Armon Mills, who will continue in a role as publisher emeritus.

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SDG&E Gets OK to Build Energy Storage Projects in Escondido, El Cajon

State regulators have signed off on San Diego Gas & Electric’s proposal to build lithium-ion battery projects in Escondido and El Cajon capable of storing a combined 37.5 megawatts of energy.

California Records a 4% Increase in Construction Employment Over 12 Months

Of the 39 states in which construction employment rose between July 2015 and July of this year, California added the most construction jobs, according to a report from the Associated General Contractors of America.

SDG&E Wins Approval for Independent Marketing Division

San Diego Gas & Electric has won state approval to form an independent marketing division it says will educate consumers about entities – several of which have been proposed locally – that would compete with the utility by selling electricity directly to residential users.

Business Calendar for Week of August 22, 2016

Some of the business events planned in the county for the week of August 22, 2016, and beyond.

Thursday, August 18

General Dynamics NASSCO Awarded $24.4 Million Navy Contract

The U.S. Navy awarded General Dynamics NASSCO a $24.4 million contract modification to refine the design of the Navy’s proposed LX(R) amphibious ship replacement. Work is expected to last until September 2017.

Qualcomm Sets Up New Division Dedicated to Data Center Space

Qualcomm Inc. announced on Aug. 18 that it plans to market its data center chips under the name Qualcomm Centriq. It also said that it has set up a new business division, Qualcomm Datacenter Technologies Inc., dedicated to the data center space.

Women in the Workforce Are a Vital Resource

More than anything, promoting commerce is about leveraging our most valuable assets: people. So I was concerned when our recent Business and Tax Climate Dashboard revealed that, at 44.6 percent, women make up less of San Diego County’s workforce than any of our competitor metropolitan areas across the nation. Women in San Diego County do not benefit from the same professional opportunities.

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Bocce Ball Championship’s Fundraising Role Is a Big Winner

The North County Athletic Association announced that Vigilucci’s Beach Bocce World Championship XXXVI attracted more than 1,000 people to Del Mar’s Dog Beach. Raising more than $100,000 this year and more than $1 million since its inception, the tournament sold out in under an hour when tickets were made available in the spring.

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Local Bank Enters $6 Million Recapitalization Agreement

San Diego’s only community development financial institution, or CDFI, announced a $6 million recapitalization agreement.

ALTA Environmental Opens Second S.D. Office in Oceanside

A Long Beach-based project engineering firm, ALTA Environmental, has opened an office in Oceanside.

Construction Begins on $57M Oceanside Townhome Development

San Diego-based Cornerstone Communities and Presidio Residential Capital recently began construction on Brisas at Pacific Ridge, consisting of 117 two-story triplex townhomes in Oceanside. A statement from developers said the for-sale project will have a retail value of more than $57 million at completion.

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Sunshine Adds the Final Touch to Rancho Santa Fe’s Beauty

Downtown Rancho Santa Fe is just a few blocks long and is the busy epicenter of this exclusive enclave.

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Telletopia Wants Slice of TV Pie for Internet Broadcasts

TECH: Nonprofit Needs OK From FCC to Pursue Local TV Programming

Telletopia, the San Diego nonprofit, takes the second half of its name from the word “utopia.”

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Know Hitters

Co. Combines Hardware and Software to Evaluate How Your Form Is Functioning In Baseball and Other Sports

Justin Goltz gets into position to hit a baseball perched on a stand in front of him. A knot of bystanders feels the powerful whap of wood hitting leather as the ball sinks deep into a net.

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Women Speakers at Conference Part of Sea Change for Military

One of the biggest military stories of the decade has been the gradual increase in the number of women among U.S. fighting forces on the front lines. There has been a lively debate over whether and how women should serve in the U.S. Army and U.S. Marine Corps infantry. In the U.S. Navy, women are slowly entering the submarine force. Early this month, Los Angeles native Dominique Saavedra became the first female enlisted sailor to earn her silver dolphins pin, meaning she is qualified to work on a submarine. A chief culinary specialist, Saavedra is expected to deploy on the USS Michigan, which carries Tomahawk missiles.

Prosecutors Charge 2 With Insider Trading

FINANCE: Case Involved Tip on Biotech Acquisition

Federal prosecutors have charged two San Diego businessmen with insider trading for using a confidential tip to snag $83,000 in profit when local biotech Ardea Biosciences was acquired in 2012.

PICO Cuts Down on Losses and Apparently In-Fighting, Too

FINANCE: Loss for Company’s First Half Is $10.2 Million

La Jolla-based PICO Holdings Inc., a company with interest in water and land rights, reported a net loss of $3.4 million in the second quarter, a significant improvement from the $49.8 million loss the company reported last year in the second quarter.

Smart Money

VC Firm’s Investments Are About Converting Data Into Dollars

A venture capital firm interested in funding local software startups has launched a new fund in San Diego — possibly the first of its kind.

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Developers Find Opportunities in Golf Course Properties

PROPERTY: Prime Land Draws Interest; Sport Facing Challenges

Ever-changing business realities for the nation’s 14,000 golf course properties continue to be reflected in San Diego County, in the form of several recent sales, near-sales, closings and pending redevelopments.

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SmartFoam’s Nanoparticles Have Big Markets Potential

TECH: Footwear, Mattresses May Be Changed By Material

UC San Diego’s engineering school and offers me a squishy piece of black plastic foam about the size of a dime.

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Illumina Reportedly Gets $30 Billion Offer From Thermo Fisher

San Diego medtech giant Illumina Inc., the world’s largest developer of DNA sequencing machines, reportedly has received a $30 billion takeover offer from global firm Thermo Fisher Scientific.

TMD Stays Neutral; Study Hits Convadium

The San Diego Tourism Marketing District will not formally campaign against the San Diego Chargers’ November ballot measure aimed at financing a downtown stadium and convention facility, despite issuing a consulting report that negatively critiqued the project.

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Hotel Could Bring Big Changes to Escondido

TRAVEL: Stone’s Project May Rev Up the Business Climate

“We’re already getting emails from people saying they want to hold the first wedding at Stone Hotel,” said Steve Robbins, director of hospitality at Stone Brewing Co., describing public reaction to the recent announcement that the brewer is moving forward with plans for a full-service, 99-room hotel adjacent to its flagship Escondido brewing facilities.

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Selling Solo

PHARMA: Orexigen Readies for Contrave’s Make-or-Break Sales Push

Orexigen Therapeutics Inc. should stand among the elite in San Diego’s life science community as one of the few local companies that has an approved drug on the market — and real revenue filling its coffers.

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Totaro Named GM of San Diego Convention Center

Karen Totaro has been named senior vice president and general manager of San Diego Convention Center, effective Sept. 30. Totaro most recently served as general manager for the Atlantic City Convention Center in New Jersey.

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Randy Frisch Gets New National University System Post

National University System Vice Chancellor Randy Frisch has been named president of City University of Seattle, the school announced.

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Illumina Reportedly Receives $30 Billion Takeover Offer from Thermo Fisher Scientific

San Diego medtech giant Illumina Inc. is said to have received a $30 billion takeover offer from global firm Thermo Fisher Scientific.

Avelas Biosciences Secures $20 Million in Financing Round

San Diego startup Avelas Biosciences has landed $20 million in a Series C round to develop its fluorescent technologies for cancer treatments.

Wednesday, August 17

Cisco Systems Says It Will Cut 5,500 Employees

Cisco Systems Inc. plans to eliminate up to 5,500 positions, or 7 percent of its global workforce, in a companywide restructuring, the Silicon Valley company said Aug. 17 when it announced fourth quarter earnings.

MabVax Therapeutics Announces Uplisting to Nasdaq

San Diego’s MabVax Therapeutics Holdings Inc. is uplisting to the Nasdaq from the OTCQB market, as well as selling $8.6 million in a public equity offering.

Cape Rey Carlsbad Resort Gets New Management

Atlanta-based Davidson Hotels & Resorts has been hired to manage the 215-room Cape Rey Carlsbad, an upscale Hilton resort located at 1 Ponto Road.

Blue Shield of California to Close Operations for Four Days

Health insurer Blue Shield of California plans to shut down most of its operations during the four days after Labor Day as a way of coping with what it calls the unsustainable situation of providing coverage for subscribers at prices “well below” its costs.

Histogen Inc. Receives $6 Million Investment From Chinese Firm

San Diego’s Histogen Inc., a regenerative medicine company, has received a $6 million private equity investment from China-based Pineworld Capital Ltd. for the development of Histogen’s hair growth program.

San Diego Apartment Complex Sells for $7.45 Million

A San Diego buyer recorded as East Eight LLC has acquired a 36-unit apartment property in the city’s Grantville neighborhood for $7.45 million, according to brokerage firm CBRE Group Inc.

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Majority of Region's Businesses Say Housing Costs Are Too Expensive

More than 90 percent of San Diego-area businesses believe the region’s housing has become too expensive, and most think more residences should be built, according to survey results released Wednesday.

BAE Systems Ship Repair Leases 100,000 Square Feet in Chula Vista

Driven by the U.S. Navy’s plan to station more ships in San Diego and its own plans to grow, BAE Systems Ship Repair recently leased more than 100,000 square feet of new space in the South Bay.

Tuesday, August 16

Green Flash Brewing Plans November Opening for Virginia Facility

San Diego-headquartered Green Flash Brewing Co. has announced a Nov. 13 public opening for its new East Coast production facility and tasting room in Virginia Beach, Va. Fund-raising and related events are slated for the grand opening, and the company’s beers will officially start shipping from the new facility on Jan. 1, 2017.

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County’s Hotel Property Deal Volume Declined in First Half

San Diego County’s hotel property transaction volume declined 38 percent from a year ago in the first half of 2016, with the dollar volume down 65 percent, according to a recent mid-year report by brokerage and consulting firm Atlas Hospitality Group.

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Foley Named Executive Director of ULI’s San Diego-Tijuana District

Heather Foley has been named executive director of the Urban Land Institute’s San Diego-Tijuana District Council, the organization announced.

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eSUB Construction Software Hires Chief Technology Officer

eSUB Construction Software, a San Diego software-as-a-service company that offers subcontractors a mobile platform for project management, recently announced it has hired a new CTO.

Epstein Family Foundation Awards $1 Million to Research Institute

The Epstein Family Foundation has granted Sanford Burnham Prebys Medical Discovery Institute $1 million to pursue pancreatic and prostate cancer research.

GA-ASI Awarded $371 Million Air Force Contract

The U.S. Air Force placed a $371 million order with Poway-based General Atomics Aeronautical Systems Inc. for 30 Reaper remotely operated unmanned aircraft.

PatientSafe Solutions Raises Nearly $4.5 Million in Financing Round

PatientSafe Solutions Inc. this month reported selling nearly $4.5 million in notes convertible to preferred stock in the San Diego-based health-care information technology company.

Cubic Corp. Names Two Senior VPs

Cubic Corp. has named two new senior vice presidents for its defense business, including a recently retired U.S. Army three-star general.

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TPT Global Tech Acquires Digithrive

TPT Global Tech Inc., a downtown company that does business in the telecom space, announced another acquisition on Aug. 16. The business said that it had completed its acquisition of Digithrive, a company that offers web and app development services. Terms of the deal were not disclosed.

Monday, August 15

Staffing Agency to Pay $175,000 to Settle Federal Complaint

The U.S. Department of Justice announced Monday TEG Staffing Inc., a San Diego-based temporary staffing agency also known as Eastridge Workforce Solutions, has agreed to pay $175,000 in civil penalties and undergo federal monitoring to settle an immigration-related discrimination claim.

Airgain Inc. IPO Closes at $8.30 Per Share on 2nd Day

Shares in Airgain Inc. closed up almost 4 percent at $8.30 on Aug. 15 — their second day of trading following the company’s $12 million initial public offering.

Neighborhood National Bank Raises $6 Million

San Diego’s only community development financial institution, or CDFI, on Monday announced a $6 million recapitalization agreement.

Vincent Aurentz Joins Arena Pharmaceuticals

San Diego drugmaker Arena Pharmaceuticals Inc. announced that Vincent Aurentz is joining the company as executive vice president and chief business officer, effective today.

Barracks to be Converted into $20M Hotel at Liberty Station

San Diego-based McMillin LLC and Untitled Hospitality plan to develop a new arts-themed, $20 million hotel called The Barracks Hotel, using historic buildings at Liberty Station in Point Loma.

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Jerome Zeldis Named CMO at Sorrento Therapeutics

The former chief medical officer of pharmaceutical giant Celgene Corp., Dr. Jerome Zeldis, is joining San Diego’s Sorrento Therapeutics Inc. as its new chief medical officer and president of clinical development.

Owner Begins $6.6 Million Renovation of Aventine Office Building

Owner Rockpoint Group has begun a $6.6 million renovation of its Aventine office building at University Towne Center, following its 2015 purchase of the building at 8910 University Center Lane.

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Developer Plans $13.5M Industrial Park in Escondido After Land Purchase

San Diego-based Badiee Development Inc. has purchased a 4.87-acre parcel in Escondido, with plans to build a new $13.5 million industrial park.

Faheem Hasnain Joins Board of Vital Therapies

Faheem Hasnain, a well-respected biotech executive, has been appointed to Vital Therapies Inc.’s board of directors.

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City’s Homelessness Strategy is Bad for Business

My guess is that some San Diego officials believe that the city’s current anti-homelessness policies are being executed in the service of local businesses. Actually, these policies are hurting our businesses – and, therefore, hurting our region’s economy and our overall quality of life.

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Camp Erin Gives Kids Place to Share Their Feelings and Fun

The Center for Compassionate Care of The Elizabeth Hospice hosted Camp Erin San Diego in partnership with The Moyer Foundation. This annual weekend summer camp is open to children and teens who are grieving the death of someone close to them. This camp experience is free of charge and combines traditional, high-energy camp activities with grief support and education.

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Proposal Could Ease Regulatory Burden for Small Banks

BANKING: Quarterly Reports Could Shrink From 85 to 61 Pages

Banks that manage less than $1 billion in assets could get some relief from quarterly reporting requirements under a proposal being floated by federal bank regulators to reduce the amount of information banks must report.

Seasoned Real Estate Lawyer Joins Withers Bergman as a Partner

Marjorie J. Burchett has joined the San Diego office of Withers Bergman as a partner. Burchett is an experienced real estate lawyer who has worked across major residential, commercial and mixed-use development projects in California for the last 30 years. She joins Withers Bergman from Dentons, and was previously a partner at McKenna Long & Aldridge and Luce, Forward, Hamilton & Scripps.

Sunday, August 14

Work begins on $100M Residential Community in San Marcos

The Southern California division of homebuilder Brookfield Residential has begun grading and land development work on Rancho Tesoro, a new $100 million master-planned community in San Marcos.

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Developer's Tustin Legacy Won't Include Baseball

San Diego developer OliverMcMillan and team officials have apparently struck out in efforts to bring the Los Angeles Angels to the developer’s proposed Tustin Legacy project in Orange County, according to published reports.

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Contractor Awarded $9.7M Navy Contract

The U.S. Navy awarded A&D General Contracting Inc. a $9.7 million task order to build a combat service support facility at Marine Corps Base Camp Pendleton.

Halozyme Therapeutics Increases Estimate for Yearly Net Revenue

Halozyme Therapeutics Inc. bumped its estimate for this year’s total net revenue haul to a high of $150 million, according to a recent financial statement.

BAE Systems Makes $300,000 Contribution to Bridge Lighting Art Project

BAE Systems, the British defense contractor that runs one of the U.S. Navy ship repair businesses in Barrio Logan, has contributed $300,000 to a project that would bathe the San Diego-Coronado Bay Bridge with artistic lighting at night.

The Business Calendar for the Week of August 15, 2016

Some of the business events scheduled in the county for the week of August 15, 2016, and beyond.

BNBuilders Gets $2.7M Contract for Hall of Justice Renovation

The San Diego office of general contractor BNBuilders has been awarded a $2.7 million contract for a renovation of San Diego County’s Hall of Justice, the downtown location of the state Superior Court.

Connect Is Seeking Life Science Startups for Investment Program CapitalMatch

San Diego’s early-stage life science companies are invited to apply for CapitalMatch, a program run by San Diego startup accelerator Connect to link companies seeking funding with interested investors.

Prosecutors Charge Two Local Businessmen With Insider Trading in Biotech Case

Federal prosecutors have charged two San Diego businessmen with insider trading for allegedly using a confidential tip to snag $83,000 in profit when local biotech Ardea Biosciences was acquired in 2012.

Friday, August 12

Business Calendar for Week of August 15, 2016

Some of the business events scheduled in the county for the week of August 15, 2016, and beyond.

Prosecutors Charge Two S.D. Businessmen With Insider Trading in Biotech Case

Federal prosecutors have charged two San Diego businessmen with insider trading for using a confidential tip to snag $83,000 in profit when local biotech Ardea Biosciences was acquired in 2012.

Halozyme Increases Estimate for Yearly Net Revenue

Halozyme Therapeutics Inc. bumped its estimate for this year’s total net revenue haul to a high of $150 million, according to a recent financial statement.

Angels Won’t Take Flight to OliverMcMillan Site in Tustin

San Diego developer OliverMcMillan and team officials have apparently struck out in efforts to bring the Los Angeles Angels to the developer’s proposed Tustin Legacy project in Orange County, according to published reports.

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Work begins on $100 Million Residential Community in San Marcos

The Southern California division of homebuilder Brookfield Residential has begun grading and land development work on Rancho Tesoro, a new $100 million master-planned community in San Marcos.

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BNBuilders Gets $2.7 Million Contract for Hall of Justice Renovation

The San Diego office of general contractor BNBuilders has been awarded a $2.7 million contract for a renovation of San Diego County’s Hall of Justice, the downtown location of the state Superior Court.

BAE Systems Contributes $300,000 for Bridge Lighting Art Project

BAE Systems, the British defense contractor that runs one of the U.S. Navy ship repair businesses in Barrio Logan, has contributed $300,000 to a project that would bathe the San Diego-Coronado Bay Bridge with artistic lighting at night.

Thursday, August 11

Veterans, Millennials Dominate S.D.'s Workforce, Women Lag, Study Finds

The San Diego area workforce has the highest percentage of millennials and veterans, but the lowest percentage of women compared to nine competing metro areas.

Broadcom Ltd. Notifies State EDD it Plans 50 Permanent Layoffs

Chipmaker Broadcom Ltd. plans to lay off as many as 50 employees in San Diego, according to information released Aug. 10 by the state Employment Development Department.

Callaway Golf Announces Quarterly Dividend

Carlsbad-based Callaway Golf Co. declared a penny-per-share dividend on Aug. 10.

Biocept Inc. Signs Distribution Deal for Philippines

Biocept Inc. struck a deal with life science distributor HarlePhil Venture Inc. to get Biocept’s liquid biopsy tests into the Philippines market.

Punch Bowl Social Rolls Into East Village With Retro Concept

The northeastern quadrant of downtown San Diego’s East Village — a.k.a. the I.D.E.A. District — continues to attract new projects and tenants aiming to make people forget that neighborhood’s long history as a faded hub for under-used warehouses and auto repair lots.

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Seize The Momentum

Hot Spots Heat Up Commercial Markets, But Caution Is in the Air Despite Fairly Solid Forecast

In their recent twice-yearly survey gauging California commercial real estate sentiment, researchers at UCLA Anderson Forecast and the law firm Allen Matkins found investors and developers generally bullish on their prospects through 2019 — even if some expressed a twinge of caution about a coming “topping out” in optimism related to the office and retail markets.

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Local Investor Buys Arizona Medical Office Building for $2.35 Million

San Diego-based GLP Properties LP has purchased a medical office building in Mesa, Ariz., for $2.35 million, according to brokerage firm Lee & Associates.

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Youngevity International Reports Q2 Revenue of $42.5 Million

Youngevity International Inc., a global direct marketer of nutritional and lifestyle products and a producer of gourmet coffees, said it took in $42.5 million in revenue in the second quarter, a 9.7 percent increase over last year.

Business and Recreation Work Together in Co-Locating

WORKFORCE: Sites Offer Work/Play Mix to Boost Morale, Creativity

As coworking spaces surge in popularity, some entrepreneurs are putting a new twist on the business model — targeting those who want to combine work with play.

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Many Galaxy Note 7s to Use Qualcomm’s Snapdragon 820

Samsung is using a Qualcomm Inc. chip — the San Diego company’s flagship Snapdragon 820 processor — in many versions of its Galaxy Note 7 handset, which goes on the market Aug. 19. Selling for slightly less than $1,000, the device has a 5.7-inch “phablet” display, a stylus and an intriguing security feature: an iris scanner. That’s right, for your eye. No iris is the same, so you can use the biometric marker to unlock the phone or make mobile payments.

Hostel Takeover

Entrepreneurs’ Site Looks to Blaze An Online Trail for Those Who Travel Light

After spending a couple of their post-college years traveling the globe, and a few more years refining their business plan, San Diegans Bradon Young and Garrett Mincks have started a business to tell people how they can travel, too.

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Industry Veteran Danforth Is Picked to Lead LRAD Corp.

The board of LRAD Corp. recently chose Richard S. Danforth to be its CEO, and negotiated a compensation package that includes a base salary of $325,000. Bonuses, stock options and benefits round out Danforth’s pay package, which includes an annual bonus in the range of $243,800 to $487,500, depending on how well the company does.

Stone Is Moving Ahead With a Planned Escondido Hotel

TOURISM: Property To Have 99 Rooms on 13 Acres Near Brewery

Stone Brewing Co. is moving forward with a $26 million hotel previously announced for land adjacent to its headquarters and flagship brewing facilities in Escondido.

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Partners Take Holistic Approach to M&A

FINANCE: New Investment Bank Won’t Parcel Out Process

An investment banker and the head of marketing operations for a division of the nation’s largest energy retailer have teamed up to open a Del Mar-based investment bank focused on mergers and acquisitions.

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Teens Targeted With Subscription Skincare

RETAIL: E-Commerce Tactics To Open Up Market for Adigica

One of the biggest names in local biotech, David Hale, is joining forces with an e-commerce expert to bring the sale of skincare products into the digital age.

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Hotels Get In-Room Help Saving Energy

POWER: Co.’s System Adjusts Environment in Empty Rooms

Hotels waste a lot of energy when they heat and cool the booked — yet empty — rooms of travelers. And those sky-high utility bills end up taking a sizable chunk from the hotel’s bottom line.

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Roast Masters

BEVERAGE: S.D. Coffee Culture Advances To the Next Level

San Diego’s craft beer brewers — with their sophisticated palates and purist culture — may be priming the region for another kind of brew business: artisan coffee.

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Marketing District Consultants Cite Problems with Stadium Proposal

The San Diego Chargers’ proposed $1.8 billion downtown stadium-convention facility does not address event planners’ needs, and its funding mechanism puts local tourism promotion at risk, according to findings in a consultants’ report commissioned by the San Diego Tourism Marketing District.

Point Loma Apartments Acquired for $90 Million

Chicago-based JLL Income Property Trust, an institutionally managed real estate investment trust, announced that it has purchased a new 180-unit San Diego apartment community for approximately $90 million.

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Kura Oncology Reports Results of Cancer Drug's Phase 2 Trial

Kura Oncology stock is trading sharply higher this morning after revealing the results of a Phase 2 trial of one of its cancer drugs, Tipifarnib.

Stone Brewing Moving Ahead with Planned Escondido Hotel

Stone Brewing Co. is moving forward with a $26 million hotel previously announced for land adjacent to its headquarters and flagship brewing facilities in Escondido.

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Wednesday, August 10

Qualcomm Software Patches to Fix Flaw May Take Time to Install

More than 900 million Android smartphones and tablets equipped with Qualcomm chips and software have security flaws that could give a hacker root access to the device — that is, complete control of it.

Small Banks Approved More Loans in July Than Bigger Counterparts

Loan approval by small banks in San Diego rose by 0.2 percent in July while the rates of approval by banks with $10 billion or more in assets and alternative lenders fell 0.3 percent and 0.1 percent, respectively, according to an analysis by Biz2Credit, an online small business lending platform.

Air Force Awards GA-ASI $8 Million Contract

The U.S. Air Force recently awarded General Atomics Aeronautical Systems Inc. an $8.8 million contract covering ground control stations for the unmanned Predator.

Weeklong Event to Highlight S.D.'s Tech, Maker Culture

San Diego’s innovations will be on full display during the city’s first weeklong event to highlight makers and inventions.

Illumina Strikes Deal With Oregon-Based Tech Firm FlowJo

Medtech giant Illumina Inc. announced a partnership with Oregon-based tech firm FlowJo LLC to develop and co-market software for analyzing single-cell, next-generation sequencing data.

City Launches Free Downtown Circulator Shuttle Service

San Diego city and business development leaders have officially launched a previously announced free downtown circulator shuttle service, now called FRED. The acronym for the service, which uses all-electric vehicles, stands for Free Ride Everywhere Downtown.

AleSmith Brewing Extends Distribution to Australia via New Partnership

San Diego-headquartered AleSmith Brewing Co. has expanded its distribution into Australia through a new partnership with that country’s Experienceit Beverages.

Tuesday, August 9

Revenue Up, Net Income Down in Q1 for ViaSat

Revenue rose 5 percent but net income dipped for ViaSat Inc. when the electronics and communications company reported first-quarter earnings on Aug. 9.

Acadia Pharmaceuticals Looking to Raise $200 Million

San Diego drugmaker Acadia Pharmaceuticals Inc. is looking to raise $200 million in a secondary offering.

Startup Nervana Systems Acquired by Intel Corp.

Intel Corp. has agreed to acquire San Diego-based Nervana Systems, the semiconductor giant announced Tuesday.

Heritage Global Says Q2 Revenue Grew to $3.9 Million

Heritage Global Inc., a San Diego-based company that conducts liquidation transactions and valuations for distressed and surplus corporate and financial assets, announced it had earned $600,000 in net income during the second quarter of the year, an improvement from last year’s net loss of $700,000.

Royale Energy Posts Q2 Earnings

El Cajon-based oil and gas producer Royale Energy Inc. on Tuesday announced it had raised $2.5 million. The company also reported a net loss of nearly a half-million dollars in the second quarter of the year.

Karina’s Closes Downtown Restaurant After Plumbing Mishap

Chula Vista-based Karina’s Mexican Seafood has permanently closed its downtown San Diego restaurant due to plumbing issues, just short of the eatery’s second anniversary at 925 B St.

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Turtle Beach Corp. Reports Q2 Net Loss of $42.6 Million

Turtle Beach Corp., which makes gaming headsets and other headphones, revealed a second quarter net loss on Aug. 8, as well as plans to explore strategic options with its HyperSound line.

Chargers’ Advisor: Tourism Funds Can Be Maintained in Stadium Plans

A joint-powers board proposed in the San Diego Chargers’ November stadium ballot measure should be able to maintain current funding for San Diego’s tourism marketing efforts, an advisor to the team said at a downtown forum on Aug. 9.

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Youngevity International Acquires Assets of Renew Interests

Chula Vista-based Youngevity International Inc. has acquired assets of Renew Interests LLC.

Monday, August 8

Silvergate Bank Posts Q2 Net Income of $1.7 Million

La Jolla-based Silvergate Bank said Monday it took in $1.7 million in net income in the second quarter of the this year, down 45 percent from the same quarter last year when it earned $3.1 million.

Kratos Defense & Security Hikes 2016 Revenue Forecast

Kratos Defense & Security Solutions Inc. increased its revenue forecast for 2016 by $10 million, to $659 million, when it took the wraps off of its second quarter financial results on Aug. 4.

Chamber, Wells Fargo Partner to Launch Small Business Resource Center

The San Diego Regional Chamber of Commerce, in partnership with Wells Fargo, announced the launch of an online Small Business Resource Center, a section of the chamber’s website with free information for small businesses.

Scintilla Pharmaceuticals Acquires Pennsylvania Company

Scintilla Pharmaceuticals Inc., a subsidiary of San Diego’s Sorrento Therapeutics Inc., is acquiring a Pennsylvania-based pharmaceutical company focused on pain management.

San Diego Apartments Sold for $2.09 Million

Investor Eileen Wang of San Diego, recorded as Prism Real Estate Investments LLC, has purchased an eight-unit apartment property in San Diego’s Talmadge neighborhood for approximately $2.09 million, according to brokerage firms Apartment Consultants Inc. (ACI) and ACRE Investment Real Estate Services.

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Dry Cleaning Chain Expanding into San Diego

Maryland-based Zips Dry Cleaners has signed a development deal with a Los Angeles area franchisee to build 110 locations in Southern California, including 15 in the San Diego market.

MEI Pharma Inks Deal Potentially Worth Nearly a Half-Billion Dollars

San Diego biotech MEI Pharma signed a major deal with Swiss pharmaceutical group Helsinn that could be worth up to $464 million.

Qualcomm Signs Patent License Agreement With Another Chinese Firm

Qualcomm Inc. announced on Aug. 7 that it signed a patent license agreement with Vivo Communication Technology Co. Ltd. of China. The news came one week after Qualcomm (Nasdaq: QCOM) announced a pact with a second Chinese company, GuangDong OPPO Mobile Telecommunications Corp. Ltd.

Sunday, August 7

Encore Capital Group Reports Q2 Results

Specialty finance company Encore Capital Group Inc. reported $289.4 million in revenue for the second fiscal quarter ending June 30, 2 percent up from the $282.7 million reported last year in the same quarter.

Point Loma Apartment Property Sells for $12 Million

Local buyers recorded as Crest Partners-Poway One Danielson LLC and Point Loma Equity Fund LLC have acquired a 34-unit apartment property in San Diego’s Point Loma Heights neighborhood for $12 million, according to brokerage firm South Coast Commercial Inc. and CoStar Group.

Carlsbad-based Software Company Names Stelling CEO

Carlsbad-based Enviance named Amy Stelling as its CEO.

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Orexigen Reports Q2 Results

San Diego’s Orexigen Therapeutics Inc. reported a jump in quarterly revenue, but missed Wall Street’s expectations for total earnings-per-share, according to a recent earnings statement.

The Business Calendar for the Week of August 8, 2016

Some of the business events scheduled in the county for the week of August 8, 2016, and beyond.

Tapestry Solutions Names Wright President

Tapestry Solutions Inc., a unit of the Boeing Co., has promoted Robin Wright to president, effective Aug. 6.

San Diego Apartment Property Sells for $3.3 Million

Mar LLC of Del Mar has acquired an 18-unit apartment property in San Diego’s City Heights neighborhood for $3.3 million, according to brokerage firm Marcus & Millichap.

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AMN Healthcare Reports Q2 Results

AMN Healthcare Inc. reported a 35 percent increase in revenue compared with the like quarter of the previous year in its second-quarter earnings report released Aug. 4.

Friday, August 5

Point Loma Apartment Property Sold for $12 Million

Local buyers recorded as Crest Partners-Poway One Danielson LLC and Point Loma Equity Fund LLC have acquired a 34-unit apartment property in San Diego’s Point Loma Heights neighborhood for $12 million, according to brokerage firm South Coast Commercial Inc. and CoStar Group.

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Orexigen Reports Second Quarter Results

San Diego’s Orexigen Therapeutics Inc. reported a jump in quarterly revenue, but missed Wall Street’s expectations for total earnings-per-share, according to a recent earnings statement.

S.D. Apartment Property Sells for $3.3 Million

Mar LLC of Del Mar has acquired an 18-unit apartment property in San Diego’s City Heights neighborhood for $3.3 million, according to brokerage firm Marcus & Millichap.

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Business Calendar for Week of August 8, 2016

Some of the business events scheduled in the county for the week of August 8, 2016, and beyond.

Encore Capital Group Reports Second Quarter Results

Specialty finance company Encore Capital Group Inc. reported $289.4 million in revenue for the second fiscal quarter ending June 30, 2 percent up from the $282.7 million reported last year in the same quarter.

AMN Healthcare Reports Second Quarter Results

AMN Healthcare Inc. reported a 35 percent increase in revenue compared with the like quarter of the previous year in its second-quarter earnings report released Aug. 4.

Thursday, August 4

David Hale, Rick Sliter Launch Adigica Health

Biotech veteran David Hale, who has been involved in San Diego’s life science industry for decades, has launched a new company, Adigica Health, Inc., to develop and commercialize specialty healthcare and skincare products directly to consumers.

Strong Sales Lift Callaway Golf's Q2 Earnings

Callaway Golf Co. — the Carlsbad maker of balls, clubs and golf accessories — reported a 140 percent improvement in second quarter earnings and got a surprise gift from a competitor.

Sempra Energy Reports Q2 Earnings of $16M, Revenue of $2.16B

Sempra Energy reported earnings of $16 million, or 6 cents per share, during the second quarter of 2016. Total revenue was $2.16 billion, the company said Aug. 4.

Entertainment Center Planned at Former Boxing Club Site in East Village

Denver-based hospitality group Punch Bowl Social, which operates restaurant-entertainment centers, plans to open a new location at downtown San Diego’s Makers Quarter mixed-used development. It is planned for the building that once housed the historic Coliseum Federal Athletic Club, at 1485 E St. in East Village.

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San Diego's Wealthiest 2016

San Diego's Wealthiest 2016

San Diego International Passenger Traffic Rose 3.3 Percent in First Half

Passenger traffic at San Diego International Airport increased 3.3 percent from a year ago in the first half of 2016, topping 9.93 million, according to data from the San Diego County Regional Airport Authority.

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Kearny Mesa Retail Property Sells for $2.2 Million

A San Diego buyer recorded as 7959 Balboa LLC has acquired a former retail vehicle dealership property in Kearny Mesa for approximately $2.2 million, according to brokerage firm Duhs Commercial. The buyer plans to demolish buildings on the site to build an express car wash.

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Wage Hikes Latest in Taxing Issues for Business

We Californians like to think we are the envy of all other states. Governors of Michigan, Texas, Florida and others have found it fruitful to advertise here, even flying in to persuade businesses to leave California for greener (read: less taxing) pastures.

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S.D. Police Foundation Helps Those Who Protect and Serve

The San Diego Police Foundation’s 16th annual “Friends of the Badge” luncheon was held recently at the San Diego Convention Center. Net proceeds of more than $145,000 were raised by 451 attendees who gathered to support public safety and the mission of the Police Foundation.

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Iconic Surf Spot, San Diego Sunsets Set the Scene at Windansea

Windansea Beach at the end of Nautilus Street in La Jolla is one of San Diego County’s most iconic landmarks. The smooth sandstone tables jutting out over the crashing waves, underwater reefs and, of course, the historic “surf shack” are popular backdrops for weddings and photographs of fiery sunsets.

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Socially Responsible Investing Paths Are Gaining Traction

FINANCE: More Cos. Adopting Culture Gives Investors Greater Choices

Twenty years ago, multibillion-dollar companies including Nike and Wal-Mart were in the headlines — not because of their growing profits, but because of how they made them.

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BioLabs Is Additional Plus for Local Biotech Scene

A new coworking space called BioLabs San Diego is launching this fall, hoping to fill the gaps left in the city’s biotech startup space.

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Coworking Space Adds a Privacy Option for Clients

DeskHub San Diego, one of the more bustling coworking spaces in the city, is expanding its space in Little Italy.

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H20 Sushi Thinks Young With Design, Drinks and Dishes

DINING: Hillcrest Eatery Part of Bigger S.D. Plans For Restaurant Group

A restaurant group run by a chef turned entrepreneur is expanding into San Diego with the opening of H2O Sushi & Izakaya in Hillcrest.

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Kombucha Tasting Room Enters the Mix

BEVERAGE: Drink Is Touted as Healthful And Tasty Treat

A new local brewery in Old Town is jumping on the kombucha bandwagon, opening a tasting room in San Diego where the fizzy beverage is brewed.

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Insurers to Begin Checking IDs of High-End Homebuyers

PROPERTY: Those Paying Cash Targeted By Treasury Department

The U.S. Treasury Department wants to know who secretly may be buying luxury homes in San Diego.

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Marketing Company Is Looking for Actors, Not an Audience

MARKETING: Giving Public Active Role Can Create Waves of Publicity

Back in the day, advertising arrived in 30-second segments that the family would watch while crowded around the television after dinner.

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If Only Winning Was As Easy As Making Money

Four years ago this month, Ron Fowler led the group that purchased the San Diego Padres and pledged to create an organization and team the community could be proud of. To their credit, they continue to improve Petco Park and the fan experience, and they have delivered superstar concerts and a great All-Star weekend.

REITs in Good Position To Gain in Tight Market

PROPERTY: Property Values, Rents Increase on West Coast

So far in 2016, San Diego-headquartered real estate investment trusts are continuing to benefit from a West Coast climate of limited new retail center development in locations where major store operators are still looking to set up shop.

Scripps’ Covered Calif. PPO Rate to Jump

MEDICINE: Blue Shield Rate Increase to Average 20%

Scripps Health’s reputation for inspiring loyalty among patients may soon be put to the test as its sole partner in the state-run insurance exchange, Blue Shield of California, plans a rate increase dwarfing those of its closest rivals in the highly competitive San Diego market.

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Local Players Choose Sides in Stadium Issue

SPORT: Chamber Backs Team; Others Call for Job-Hub

The San Diego Chargers recently obtained a key ally in its efforts to build a $1.8 billion downtown stadium and convention facility, when leaders of the San Diego Regional Chamber of Commerce voted to support the team’s November ballot measure.

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Stalwarts and startups - San Diego's Wealthiest

Tracking S.D.’s Wealthiest Provides Reflection of Community

The list of the wealthiest San Diegans is dynamic and evolving, much like the community it reflects. It shows a cross-section of the county’s key industries and inspiring success stories, from executives at promising life science companies to fast-growing craft brewers. It includes individuals and families that helped build this community and its innovative tech companies. It’s a snapshot of prominent philanthropists, political donors and power brokers. There is no question that publishing a list of a community’s wealthiest individuals can be viewed as a crass, voyeuristic exercise that has more entertainment value than journalistic value. Fair enough; we understand the criticism. Some people have argued that publishing

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Ambrx Inc. Raises $45 Million

La Jolla-based Ambrx Inc. has raised $45 million in new cash.

SeaWorld Entertainment Sees First-half Declines in Revenue, Attendance

The parent company of SeaWorld San Diego posted nationwide declines in revenue and attendance for the first half of 2016, despite reporting year-over-improvements for its parks in San Diego and Texas.

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Wednesday, August 3

Carlsbad Industrial Campus Planned After $6 Million Parcel Purchase

San Diego-based Badiee Development plans to develop a new two-building industrial campus in Carlsbad, following its $6 million purchase of two land parcels totaling 8.4 acres.

Industry Veteran Richard S. Danforth Picked to Lead LRAD Corp.

The board of LRAD Corp. named former DRS Technologies Inc. executive Richard S. Danforth, 56, as the company’s new CEO on Aug. 1.

Cubic Corp. Reports Q3 Net Income of $4.5 Million

Cubic Corp. reported net income of $4.5 million, or 17 cents per share, on sales of $375.2 million in its third quarter, which ended June 30. For the same quarter one year ago, Cubic reported $8.8 million in net income (33 cents per share) on $347.8 million in sales.

Two S.D. Companies Co-Winners of Samuel Adams Pitch Room Competition

Two San Diego companies, Deaf Man’s BBQ and FITzee Foods, have won the San Diego Pitch Room competition put on by a Samuel Adams program for small businesses.

Novatel Wireless Inc. Cuts Net Loss, Grows Revenues in Q2

Novatel Wireless Inc., which is recasting itself as a specialist in the Internet of Things, cut its net loss to $2.7 million, or 5 cents per share, and grew its total net revenues to $62.8 million in its second quarter, which ended June 30.

George J. Pierson Named President/CEO at The Kleinfelder Group

The Kleinfelder Group, which provides construction, engineering and architectural services, on Wednesday named George J. Pierson president and CEO.

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Renovate America Acquires CakeSystems for Undisclosed Price

Renovate America, the largest provider of clean energy financing for an initiative called PACE, announced Wednesday that it had acquired CakeSystems, a Portland-based software provider for home energy modeling.

Ionis Pharmaceuticals Receives $75 Million From Biogen

Carlsbad drugmaker Ionis Pharmaceuticals Inc. has received $75 million from its partner Biogen following news of positive Phase 3 data for its spinal muscular atrophy drug called Nusinersen.

Tuesday, August 2

North Park Apartment Property Sells for $2.29 Million

San Diego-based Vaerus Boundary LLC has purchased a 12-unit apartment property in North Park for approximately $2.29 million, according to brokerage firm Marcus & Millichap.

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Matt Zubiller Joins AMN Healthcare

AMN Healthcare announced it has appointed a former senior executive at McKesson Corp., Matt Zubiller, to lead strategic planning across all divisions of the San Diego-based workforce solutions and staffing services company.

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BofI Holding Inc. Reports Q4 Net Income of $29.7 Million

BofI Holding Inc., parent company of BofI Federal Bank, reported net income of $29.7 million for the fiscal quarter ending June 30, up 21.9 percent from the year before.

StatRad Receives $13 Million Equity Investment

Medical imaging software developer StatRad said Tuesday it has received a $13 million equity investment from an undisclosed institutional partner active in health care information technology.

Evofem Inc. Raises $25 Million in Series D Round

San Diego biotech Evofem Inc. has raised $25 million in a Series D round.

Craig Kussman Named CFO at Organovo Holdings

Organovo Holdings Inc., the San Diego firm that “bioprints” three-dimensional human tissue, has appointed Craig Kussman as chief financial officer.

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Sorrento Therapeutics Launches Joint Venture With South Korean Biotech

San Diego drugmaker Sorrento Therapeutics is launching a joint venture with South Korea’s CHA Biotech to develop an anti-cancer therapy. This is the latest in a string of joint ventures Sorrento has created in the last few months.

RAR Hospitality Announces Executive Promotions

San Diego-based hotel consulting and management firm RAR Hospitality recently named Marc Potash and Robert Moore to key executive leadership positions.

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Monday, August 1

Subscribe by 5 P.M. Tuesday and Meet the Wealthiest San Diegans

The San Diego Business Journal's Wealthiest San Diegans supplement publishes Aug. 8 and the only way to receive a copy is to subscribe.

Investment Firm Rebrands as Gurtin Municipal Bond Management

An investment management firm with headquarters in San Diego and Chicago on Monday announced it had changed its name from Gurtin Fixed Income Management LLC to Gurtin Municipal Bond Management.

Carlsbad Office and Retail Property Sells for $6 Million

San Diego-based Stos Partners has acquired a Carlsbad Village office and retail property for $6 million, according to the buyer and CoStar Group data.

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San Diego Apartment Property Sells for $2.18 Million

O’LIDO LLC of La Mesa has acquired an eight-unit apartment property in San Diego’s Golden Hill neighborhood for approximately $2.18 million, according to brokerage firm Marcus & Millichap.

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San Diego 4th Most-Expensive City in California for Renters

San Diego rents shrank 0.2 percent in July, but year-over-year growth remained in positive territory at 1.8 percent, according to an analysis by Apartment List.

Founder White, 3 Other Leaders Leave Ballast Point Brewing & Spirits

Four leaders of San Diego’s Ballast Point Brewing & Spirits – including founder Jack White, chief operating officer Yuseff Cherney and CEO Jim Buechler – have left the company to pursue other interests, the Miramar-based brewer confirmed.

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Oceanside Office Building Sold for $2.85 Million

A San Diego-based limited partnership known as PWI Copperwood has purchased an Oceanside office building for $2.85 million, according to brokerage firm ECP Commercial.

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Startup AttackIQ Inc. Raises $7.8 million in Equity Financing

Cybersecurity startup AttackIQ Inc. has raised $7.8 million in equity financing, according to a recent form filed with the Securities and Exchange Commission.

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