Stories for December 2016

Friday, December 30

CPUC Rejects SDG&E's initial Plan for Independent Marketing Division

The California Public Utilities Commission has rejected San Diego Gas & Electric Co.’s initial plan for forming an independent marketing division that would give customers information about local entities proposed to compete with the utility.

Qualcomm, Meizu Agreement Settles Patent Problems

Qualcomm Inc. announced on Dec. 30 that it has signed a patent license deal with a Meizu Technology Co. Ltd. of China, a former opponent in the Chinese courts.

San Diego Named a ‘TechHire’ City By the White House

TECH: Program Offers Cybersecurity, Coding Training to Participants

The White House has named San Diego a TechHire city, recognizing the city’s efforts to train people for software development and other new, technology-focused jobs.

3 Musts for Women: Create, Close Gap, Mentor

If you feel like many, the outlook for 2017 is uncertain. No one is sure how federal policies and global events will ultimately shape the next 12 months. There’s a plethora of speculation, though; some of it claiming this to be the dawn of a new prosperous era while others are predicting Armageddon-esque doom and gloom.

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Sock Drive’s Success Measured in Feet, 46,490 to Be Exact

Organizers of a sock drive for area homeless youth blew through their goal of 5,000 and raised 23,245 pairs of socks — enough for virtually every homeless child in San Diego County.

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Style, Essence of House Ingrained in Its Amazing Living Room

The Upper Hermosa is a curious horseshoe-shaped community on the southern edge of La Jolla just north of Birdrock and to the east of La Jolla Boulevard. The area features a variety of architectural styles, some dating back to the late 1920s.

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What to Expect in 2017

A panel of regional experts will discuss the economic challenges and opportunities facing San Diego County businesses in 2017. The panel offers a preview here. The Event: Thursday, Jan. 5, 7-10 a.m., Hyatt Regency La Jolla At Aventine

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Schools and Business Community Create Key Synergy for Region

Economic Trends: Key Universities

The region’s largest university, the University of California, San Diego, heads into 2017 on the heels of a bombshell announcement.

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Qualcomm’s Big Moves Show Sector the Need to Constantly Evolve

Economic Trends: Technology

Companies in San Diego’s high-tech electronics and software space made some significant moves in 2016.

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E-Commerce Challenges Lead to ‘Melee in the Marketplace’

Economic Trends: Sports & Active Lifestyles

San Diegans have the right setting for getting outdoors — and for growing businesses rooted in the sports and active lifestyle sector.

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Institutes Monetize Successes, Prepare For Political Change

Economic Trends: Research Institutes

Much is made of San Diego’s pharmaceutical industry, what with its reputation for serial entrepreneurship and whopping exits. But there’s a quieter and more insular group on the Torrey Pines Mesa that is essential to the city’s innovation economy: the research institutes.

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Industrial Space Is Hot Commodity as E-Commerce Heats Up

Economic Trends: Real Estate

After five years of sleepy post-recession performance, the industrial segment of San Diego County’s commercial real estate market sprang to life in a big way in 2016.

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Sector on Course to Take Greater Advantage of Blue Economy

Economic Trends: Maritime

Opportunities just keep opening up for San Diego’s diverse maritime industry, a sector buoyed not only by the region’s naval power but the increasingly important fields of underwater drones, aquaculture and desalination.

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Cos. Facing Tough Time Finding Key Part: Skilled Employees

Economic Trends: Manufacturing

Every time Jo Marie Diamond, president of the East County Economic Development Council, runs into a manufacturer’s human resources manager, they tell her they’re struggling to find skilled workers to fill open positions.

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Life Sciences Aim to Shake Off the Ailments of a Tough 2016

Economic Trends: Life Sciences

It’s been a rather down year for San Diego’s life science industry, no matter what the industry groups say.

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Ability to Adapt Keeps Health Care Industry Responsive, Ready

Economic Trends: Health Care

The year ahead threatens severe disruption to a local health care industry still trying to deliver on its key values — quality and affordability — in the face of major technological changes to virtually every aspect of its operations. So, what else is new?

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Employment Opportunity Increasing as Cyberthreats Multiply

Economic Trends: Cybersecurity

Events of 2016 pointed out a crying need for cybersecurity specialists, who make up so much of San Diego’s specialized workforce. The year brought the perennial tales of data breaches. Some of the biggest were at Yahoo.

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Optimism On Deck for Growth of Military Forces, Contractors

Economic Trends: Defense

The defense world is like an aircraft carrier. It can’t turn on a dime. November’s election, however, might signal a big, slow turn. The 2016 election will soon put a new set of decision-makers in charge of the Pentagon. President-elect Donald Trump says he’s for a strong defense. That would seem to please a Republican-controlled Congress — the entity that holds the Pentagon’s purse strings.

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Startup Community Hits Its Stride, But Obstacles Could Be Ahead

Economic Trends: Startups

San Diego’s startup economy, chock-full of fresh leadership and closely watched by local and national press, gained lots of momentum last year. But if community leaders aren’t careful, 2017 could see parts of the ecosystem crumble.

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As Competition Brews, Brewers Must Raise Their Game

Economic Trends: Craft Beer

San Diego County’s craft beer brewers continued to grow their local and global footprints in 2016, even as the U.S. industry overall began to show signs of slowing growth after several years of rapid acceleration in consumer demand.

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As Visitors Flock In, Focus Shifts to Convention Center

Economic Trends: Conventions & Tourism

For the San Diego region, 2016 marked a continuation of a general post-recession trend of rising hotel revenue, airport traffic, convention business and visits to local attractions. San Diego was still benefiting from a strong nationwide tourism economy, aided by low fuel prices and steady levels of confidence among traveling consumers and business meeting planners.

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Thursday, December 29

CONNECT Accepting Applications for Capital Match Program

Early-stage technology companies looking for investors have until Jan. 9 to apply for CONNECT’s Capital Match program.

CyberTECH Adds 11 Startups to Residency Program

San Diego’s CyberTECH, a local technology membership group, recently announced that it has added 11 more startups to its Entrepreneur in Residence program.

Navy Awards $325 Million Contract to General Dynamics NASSCO

General Dynamics NASSCO received a $325 million deal to help fund the fifth in a series of U.S. Navy support ships.

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S.D. Continues Its Air Superiority in Unmanned Aircraft

Aerospace is in San Diego’s DNA. A local group built Charles Lindbergh’s Spirit of St. Louis. In more recent years, the community has developed a capability in unmanned aircraft.

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Political Turns Could Change Economic Course

The year ahead looks almost as scary as it does hopeful for Chula Vista-based Action Drone Inc.

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Rents to Continue Climbing in 2017, Report Finds

Apartment vacancies will continue to decline and rents will keep rising in the San Diego area in 2017, real estate research and advisory firm Berkadia predicted in a new report.

Local Hotel Revenue Rose 4.4 Percent in First 11 Months

Total revenue at San Diego County hotels rose 4.4 percent from a year ago in the first 11 months of 2016, topping $2.48 billion, according to the latest monthly data from research firm STR.

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Northrop Grumman Corp. Awarded $17.1 Million Navy Contract

The U.S. Navy said it awarded Northrop Grumman Corp. a $17.1 million contract for system software and engineering services related to the Fire Scout unmanned helicopter. Work will be done in San Diego.

Kearny Mesa Office Campus Sold for $37.9 Million

Klein Investments Family LP of Newport Beach has acquired a four-building office and industrial campus in Kearny Mesa for approximately $37.9 million, according to CoStar Group and public data.

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Wednesday, December 28

Airport Passenger Traffic Up 3.3 Percent Through November

San Diego International Airport saw total passenger traffic rise 3.3 percent from a year ago in the first 11 months of 2016, topping 19 million, according to the San Diego County Regional Airport Authority.

Westgate Hotel Opening New Fitness and Spa Facility

Operators of downtown San Diego’s upscale Westgate Hotel plan a Jan. 2 opening for AquaVie, a new $14 million fitness and spa facility adjacent to the property at 234 Broadway.

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HomeStreet Opens Fifth Bank Branch in San Diego

HomeStreet Bank has opened a branch in Point Loma, its fifth in San Diego.

White House Designates San Diego a TechHire City

The White House has named San Diego a TechHire city, recognizing the city’s efforts to train people for software development and other new, technology-focused jobs.

Three Local EvoNexus Startups to Exhibit at CES

Three La Jolla-based startups housed at the technology incubator EvoNexus are schedued to show off their products at the Consumer Electronics Show in Las Vegas.

San Diego One of 12 Sites Chosen for Kate Hudson’s Fabletics Brand

Kate Hudson’s Fabletics brand, which sells activewear, has chosen San Diego as a location in which to open one of its 12 planned new retail stores in 2017.

San Diego Apartment Properties Get New Owners

Two San Diego apartment properties recently changed hands, including a 58-unit complex in the city’s Lincoln Park neighborhood that sold for approximately $8.97 million.

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Jan. 30 Debut Scheduled for Dave & Buster’s in Carlsbad

Dallas-headquartered Dave & Buster’s Inc. plans a Jan. 30 opening for its new restaurant and entertainment center at the Shoppes at Carlsbad mall. It will be the second San Diego County location for the company, which currently operates a venue in Mission Valley.

South Korean Regulators to Fine Qualcomm Inc. $865 Million

South Korean regulators plan to fine Qualcomm Inc. $865 million for alleged anticompetitive behavior, the San Diego wireless technology specialist said in a statement issued Dec. 27.

Tuesday, December 27

November Home Sales Down 5.4% in County

Pending homes sales in San Diego County declined 5.4 percent year-over-year in November, to a seasonally adjusted 113.6, the California Association of Realtors reported.

General Atomics Awarded Contract to Sell Oil Refinery Technology to South Korea

General Atomics’ Electromagnetic Systems unit said it received a contract to supply heavy equipment to a South Korean oil refinery.

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Kratos Subsidiary Gets Foreign Sales Deal Worth $23.4M

A subsidiary of San Diego-based Kratos Defense plans to supply $23.4 million worth of missile components to Taiwan through 2019, the Pentagon announced on Dec. 9.

S.D. to Get Some Work From Andromeda Systems' Navy Contract

Andromeda Systems Inc. stands to make millions of dollars over five years by providing logistics and technical support services at Naval Air Station North Island.

Carlsbad Research Campus Sells for $15.3 Million

El Segundo-based Alvarez & Marsal Capital Real Estate has purchased the three-building Research Center Plaza property in Carlsbad for $15.3 million, according to the seller, Lincoln Property Co. of Dallas.

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Rally’s Opening New Restaurant in Logan Heights

Checkers Drive-in Restaurants Inc., which operates hamburger eateries under the Checkers and Rally’s brands, plans to open a new Rally’s at 931 S. 30th St., in Logan Heights near downtown San Diego.

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Qualcomm Inc. Reaches Licensing Deal With Chinese Electronics Manufacturer

Qualcomm Inc. said on Dec. 26 that it has reached a license agreement with a large Chinese electronics manufacturer. With the move, Qualcomm has license agreements with all of the top 10 Chinese players.

VC Group Based in Italy Invests $4 Million in AnaBios Corp.

An Italy-based venture capital group has invested more than $4 million in San Diego biotechnology company AnaBios Corp., which aims to raise a total of $10 million in a Series B financing round.

Monday, December 26

Spanos Meets with City, County to Discuss Chargers’ Location Issues

Mulling the team’s location options after the 2016 season, San Diego Chargers Chairman Dean Spanos recently met with Mayor Kevin Faulconer, county Supervisor Ron Roberts and San Diego State University President Elliot Hirschman.

GA-ASI Gets $349.1 Million Air Force Contract

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. a one-year, $349.1 million contract covering support and services for the Air Force’s fleet of Predator and Reaper unmanned aircraft.

Judge Rejects Motion By 2 Realtor Groups to Dismiss Part of Lawsuit

A federal judge has denied a motion by two San Diego-based real estate trade associations to dismiss a portion of an antitrust lawsuit filed against them by a third local real estate group.

Santee Apartment Community Sells for $56.6 Million

San Diego-based R&V Management Corp. has purchased a 172-unit apartment community in Santee for $56.6 million, according to brokerage firm CBRE Group Inc.

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Business Confidence Bounces Back in November

Local business confidence rebounded in November from its lowest level on record, possibly a result of clear-eyed reassessment following the rancorous presidential election campaign, the San Diego Regional Chamber of Commerce reported.

Chula Vista Apartment Property Sold for $45.5 Million

MG Properties of San Diego has acquired a 183-unit apartment property in Chula Vista for $45.5 million, according to brokerage firm Berkadia.

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The Business Calendar for the Week of December 26, 2016

Some of the business events planned in the county for the week of December 26, 2016, and beyond.

Northrop Grumman Receives $55.3M Air Force Contract

The U.S. Air Force recently awarded Northrop Grumman Corp. a $55.3 million, one-year contract modification to operate what one can simplistically call an internet server on a business jet that flies over a battlefield. Work will be split between San Diego and international locations.

BAE Systems Receives $19.7M Order for Aerial Decoys

It looks like a little missile, complete with fins, and its job is to keep an aircraft out of trouble.

Gourmet Sandwich Chain Mendocino Farms Opens First Local Eatery

Los Angeles-headquartered Mendocino Farms Sandwich Market recently opened its first San Diego County location in La Jolla, with another slated to open in spring 2017 in Carmel Valley.

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Friday, December 23

Spanos Meets with County, City to Discuss Chargers’ Location Issues

Mulling the team’s location options after the 2016 season, San Diego Chargers Chairman Dean Spanos recently met with Mayor Kevin Faulconer, county Supervisor Ron Roberts and San Diego State University President Elliot Hirschman.

Judge Rejects Realtor Groups' Motion to Dismiss Part of Lawsuit

A federal judge has denied a motion by two San Diego-based real estate trade associations to dismiss a portion of an antitrust lawsuit filed against them by a third local real estate group.

Thursday, December 22

Sharp Grossmont Hospital Takes Big Step in Energy Independence

Sharp Grossmont Hospital is operating independently of the state power grid following completion of a taxpayer-funded energy plant.

Jack in the Box Puts Limitation on Antibiotic Use in Poultry Purchases

Jack in the Box Inc., in an apparent concession to activist shareholders and consumer groups, has ruled out buying poultry treated with antibiotics to promote growth.

Construction Software Co. Raises $5 Million in Series A Round

San Diego startup eSUB Construction Software has raised $5 million in a Series A financing from Washington, D.C.-based firm Revolution Ventures, the company announced this week.

S.D.-Based Robo 3D Begins Trading on Australian Securities Exchange

San Diego-based 3-D printer startup Robo 3D Ltd. started trading Dec. 22 on the Australian Securities Exchange following its recent acquisition by Falcon Minerals Ltd., an Australian mining company.

Hyatt Regency La Jolla at Aventine Names New General Manager

Operators of Hyatt Regency La Jolla have appointed Allan Farwell as general manager, leading all operations of the 417-room hotel.

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USD Appoints Director of University’s Center for Peace and Commerce.

An assistant professor of operations management at the University of San Diego’s School of Business has been appointed director of the university’s Center for Peace and Commerce.

Student Housing Property in San Diego Sold for $82.7 Million

An affiliate of Chicago-based Heitman LLC has purchased a 321-unit student-housing property in San Diego’s College Area for $82.7 million, according to CoStar Group and public data.

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Wednesday, December 21

National City Office-Warehouse Property Sold for $3.35 Million

Analog Properties LLC of San Diego has acquired a National City office and warehouse property for $3.35 million, according to brokerage firm Colliers International Group Inc.

ViaSat, Boeing Begin Design of ViaSat-3 Satellites in Earnest

ViaSat Inc. said its first two ViaSat-3 satellites have completed their first important step toward production and launch — a stage in the process called preliminary design review.

Timothy Coughlin Leaving CFO Post at Neurocrine Biosciences

Local drugmaker Neurocrine Biosciences Inc. said its chief financial officer, Timothy Coughlin, is stepping down.

Qualcomm, Partners to Conduct Trials of 5G Network

South Korea will host field trials of a fifth-generation telecom network during the second half of 2017, according to partners Qualcomm Inc., equipment maker Ericsson and South Korean carrier SK Telecom.

Why a Bonus Pool Should Be Divided Equally

Given the recent talk about how the working class has been largely ignored and how the rich are getting richer, I think it’s my duty to speak out. I want to change the conversation and question the status quo.

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LIFT Programs Boost Homeownership, Revitalize Neighborhoods

Wells Fargo & Co. announced a total of $500,000 in donations for six local nonprofits that will help revitalize San Diego neighborhoods through the Wells Fargo NeighborhoodLIFT program.

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Executive Q&A Dana Alligood, Market Executive, Bank of America Merrill Lynch

It was a chance trip to San Diego nearly a decade ago that led to Dana Alligood’s new role as the Southern California market executive for Bank of America Merrill Lynch’s Global Commercial Banking business. Alligood says she sees positive indications of continued business growth in San Diego; the bank lent more than $62 million to local companies in the first half of the year, a 77 percent year-over-year increase from $44 million lent in the first half of 2015.

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Taking on a Tough Endeavor: Starting a Bank

The obstacle to launching a new bank in San Diego surely isn’t a lack of chutzpah. In fact, the Southern California region is leading the charge this year when it comes to asking regulators for the OK to establish financial institutions de novo — that’s “new” in bank speak (and in Latin).

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Co. Confidently Eyes Big Slice Of $160B Lead Generation Pie

LeadCrunch, which uses artificial intelligence to generate B2B sales leads, has made a quick start out of the gate.

Geek Girl Leader Leaves City, But Not Mission

Local startup advocate and technology leader Leslie Fishlock has moved on to greener pastures (and we mean that quite literally).

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It Is President Obama’s Move on Defense Authorization Act

DEFENSE: Approval Would Allow Contractors To Start New Projects

A lame-duck Congress approved a final 2017 defense budget in early December and sent it to President Obama for his signature.

Résumés Show New Associates at Brown Law Are Ready to Go

Dana C. Nicholas and Collette M. Tesauro are new associates at the Brown Law Group, a firm that specializes in all aspects of employment law and business litigation. Nicholas has expertise in insurance defense including employment claims, premises liability, products liability and personal injury. She has extensive experience in litigating cases from inception to trial preparation.

A Shaky Q4 Leaves Few Winners in Rattled Biotech Stocks

INVESTMENT: Ionis Pharmaceuticals Manages To Extend Its Successes

The fourth quarter of 2016 has been a roller coaster for the life science industry, with investors celebrating the presidential election results a tad preemptively. As a result, stock prices have soared and then nearly immediately tanked.

National Pen Looks to Click With Its Buyer

MARKETING: But Co. Still Expects Some Autonomy

If corporate acquisitions really are the marriages they sometimes purport to be, is it a sign of infidelity when a recently purchased company indicates it wants to continue playing the field, so to speak?

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HMO Competition Changes Care in Baja

MEDICINE: New Hospital Will Expand Offerings

Local employers looking to offer health benefits to workers living south of the U.S.-Mexico border are finding a new level of sophistication, as demand for low-cost, quality medicine has spawned new competition and distinct approaches to HMO care in Baja California.

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Downtown Successfully Recruits UC San Diego

DEVELOPMENT: Center to Give Area Key Academic Tie

Plans by the University of California, San Diego for a new cultural and education center in downtown’s East Village were warmly greeted by urban designers, architects, civic advocates and others who had fretted earlier this year about the future of the fast-growing neighborhood, recently eyed for a new football stadium with convention facilities.

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Could make headlines in 2017

Will the San Diego Chargers come up with an alternative measure to build a downtown stadium, after voters rejected a hotel tax hike intended to finance a $1.8 billion dual-purpose stadium with convention facilities? Or will it finally work with the city on plans for the current Mission Valley site? Or will it exercise an option to join the Los Angeles Rams at that team’s upcoming Inglewood stadium?

Relieved to see year end 2016

Local drugmakers Arena Pharmaceuticals Inc. and Orexigen Inc. are both likely glad to see the year end following a year of disappointing sales in the weight-loss market and the resulting shaky year.

Said Goodbye in 2016

One of the region’s most prominent philanthropists, Conrad Prebys died in July at age 82. The Point Loma resident was active in the construction and real estate industries for much of his life, enabling him to make significant philanthropic contributions over the past three decades. His generosity extended to numerous institutions and organizations, including San Diego State University, Salk Institute for Biological Studies, Scripps Health and the San Diego Zoo. Several local buildings have his name on them, including a concert hall at the University of California, San Diego and a new performing arts center in La Jolla, being developed by the La Jolla Music Society.

San Diego Among Nation’s Highest-Growth Markets for Single-Family Rentals

San Diego is among the nation’s highest-growth markets for single-family rentals, according to HomeUnion, an online real estate investment management firm that on Tuesday released a list of the U.S. rental markets with the highest year-over-year growth.

California Cancer Associates Leases Space in San Marcos

San Diego-based oncology and hematology practice California Cancer Associates for Research and Excellence, or cCARE, has signed a lease for 20,230 square feet at the Nordahl Medical Centre in San Marcos.

S.D.-Based Remittance Company Launches Online Platform

San Diego-based remittance company Golden Money Transfer Inc. this week launched an online platform called Inyo.

Los Angeles Firm Buys Downtown’s Emerald Plaza for $91.7 Million

Kearny Real Estate Co. of Los Angeles has purchased downtown San Diego’s Emerald Plaza office tower for approximately $91.7 million, the company announced.

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2016 S.D.’s Strengths Made a Powerful Showing

ECONOMY: From Beer To Bots, Star Players Could Be Counted On

2016 was a year in which the San Diego business community continued to build on its strengths — life sciences, health care, craft beer and real estate — areas that should continue to bolster the local economy in 2017.

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DexCom Inc. First to Win FDA Approval for Insulin-Dosing Device

A San Diego company’s product will be the first to replace finger-stick testing for determining insulin doses for diabetes patients, the U.S. Food and Drug Administration announced today.

Tuesday, December 20

ResMed Inc. Appoints New Chief Medical Officer

Local medical device maker ResMed Inc. has brought on Dr. Carlos Nunez, a medtech veteran and longtime executive, to be the company’s new chief medical officer.

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GreatCall Inc. Acquires Minnesota-Based Healthsense

San Diego-based connected health provider GreatCall Inc. has acquired Healthsense, a Mendota Heights, Minn., maker of passive health monitoring products geared toward senior citizens.

Rexford Buys Miramar Industrial Building for $15.5 Million

Los Angeles-based Rexford Industrial Realty Inc. has purchased a Miramar industrial building for $15.5 million, the company announced.

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North San Diego Business Chamber Names New Board Chairman

The North San Diego Business Chamber announced that Charlie Piscitello would be taking the reins as chairman of the board for the organization.

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San Diego Picked to Host 2017 Games in International Soccer Tournament

San Diego has been selected as a site for the 2017 Gold Cup tournament of soccer’s Confederation of North, Central America and Caribbean Association Football (CONCACAF). An opening-round double-header is scheduled for July 9 at Qualcomm Stadium, city officials announced.

San Diego's Median Home Price Now $557,000

The median price for an existing single-family home in San Diego fell by 3.4 percent from October to November, to $557,000.

Snapdragon 835's Capabilities to be on Display at CES

Qualcomm Inc. plans to show off the capabilities of its new, top-of-the-line Snapdragon 835 chip with a virtual reality demonstration during CES, the Las Vegas consumer electronics show, in early January.

Tickets Going Fast for San Diego Business Journal’s 2017 Economic Trends

Seats are still available for San Diego Business Journal’s 2017 Economic Trends on Jan. 5, 2017, at the Hyatt Regency La Jolla at Aventine from 7-10 a.m.

Monday, December 19

Illumina Inc. Sued by Two Shareholders

San Diego’s medtech giant Illumina Inc. is being sued by two shareholders who allege the company misled investors.

Pacesetters of 2016

Randa Coniglio has been CEO at the Unified Port of San Diego since the summer of 2015. In the 18 months since then, she has put her own management stamp on the agency, which is landlord for a large number of businesses, big and small, around San Diego Bay. Port commissioners awarded Coniglio the top job one year after they inked a severance deal with CEO Wayne Darbeau in mid-2014.

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Reflexion Health Hires Sudipto Sur as Chief Technology Officer

San Diego-based digital health care company Reflexion Health Inc. has hired an engineer with technology development and management experience to be its new chief technology officer.

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Wednesday Kickoff for Annual SDCCU Poinsettia Bowl

The Poinsettia Bowl, sponsored for the 12th year running by San Diego County Credit Union, kicks off at 6 p.m. Wednesday at Qualcomm Stadium.

San Diego Brewers Guild Launches New Website

The San Diego Brewers Guild, which promotes the region’s breweries and related companies, has launched a new website, SDbeer.com, streaming craft beer content for a general audience in addition to its members.

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Timothy A. Lash Named Chief Strategy Officer at West Health

West Health has promoted one of its senior executives to the position of chief strategy officer.

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OneRoof Energy Cuts Staff, Winds Down Operations

San Diego’s OneRoof Energy Inc., a residential solar power installation company, has “significantly reduced” its work force and begun winding down operations.

San Diego Restaurant Buildings Sell for $5 Million

Two leased restaurant buildings at a retail center in southern San Diego were purchased for a total of approximately $5 million, according to brokerage firm Marcus & Millichap.

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Ionis Pharmaceuticals Inc. Receives $28 Million Milestone Payment

Carlsbad drugmaker Ionis Pharmaceuticals Inc. has earned $28 million as a result of its partnership with global biopharmaceutical firm AstraZeneca Plc on an anti-cancer drug.

Tri-City Board Votes to Relinquish Disputed Medical Office Building

Tri-City Healthcare District announced Dec. 16 it will walk away from the disputed medical building at the center of a legal battle with a Carlsbad developer.

Sunday, December 18

Badiee Development Planning New Vista Industrial Project

Badiee Development Inc. has announced plans to develop a $13.9 million project in Vista, to be called Keystone Victory Industrial Park.

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Cubic Awarded $7.6M Transit Contract in Australia

Cubic Corp. said its transportation business won a $7.6 million contract to deliver a trial of “open loop” payments ticketing technology for the mass transit system in Sydney, Australia.

NASSCO Has Record Year on Ship Delivery

General Dynamics NASSCO said on Dec. 16 that it delivered a record six ships in 2016.

The Business Calendar for the Week of December 19, 2016

Some of the business events scheduled in the county for the week of December 19, 2016, and beyond.

County's Unemployment Rate Dips to 4.3% for November

Hiring gains across a variety of local industries in November brought San Diego County’s unemployment rate down to its second-lowest point in years, a seasonally unadjusted 4.3 percent that bested the state and national economies.

San Diego to Get Some of Undersea Vehicle Work From Navy Contract

The U.S. Navy awarded Metron Inc. a contract for a project called advanced autonomy for undersea vehicles.

MediciNova Added to Nasdaq Biotech Index

San Diego-based MediciNova Inc., a public biopharmaceutical company, has been added to the Nasdaq Biotechnology Index (NBI).

San Diego Gas & Electric Gets OK for Upgrading O.C. Substation

San Diego Gas & Electric has won regulatory approval to spend $381 million rebuilding and upgrading a 1950s-era substation in south Orange County and replacing a transmission line that serves the facility.

Retirement Benefits Group Expands Into Hawaii

Retirement Benefits Group, a financial advisory firm headquartered in San Diego, has expanded into Hawaii.

San Diego Apartment Property Sells for $8.3 Million

Community Housing Works of San Diego, which develops affordable housing, has acquired a 36-unit apartment building in the city’s Linda Vista neighborhood for $8.3 million, according to CoStar Group and public data.

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Grandpoint, Regents Bank Receive 5-Star Rating

Grandpoint Bank and its three divisions, including La Jolla-based Regents Bank, received a 5-star rating for strength, stability and soundness from independent rating and research firm BauerFinancial based on financial data filed Sept. 30.

Friday, December 16

S.D.'s Unemployment Rate Dips to 4.3% for November

Hiring gains across a variety of local industries in November brought San Diego County’s unemployment rate down to its second-lowest point in years, a seasonally unadjusted 4.3 percent that bested the state and national economies.

Badiee Development Is Planning New Vista Industrial Project

Badiee Development Inc. has announced plans to develop a $13.9 million project in Vista, to be called Keystone Victory Industrial Park.

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Thursday, December 15

Pomerado Hospital Renamed Palomar Medical Center Poway

Pomerado Hospital is now Palomar Medical Center Poway after a name change that brings greater consistency to owner Palomar Health’s North County health care system.

Vista Industrial Building Sold for $6.8 Million

Vista Carlsbad LLC, an affiliate of investor Dariush Hosseini of Los Angeles, has acquired a Vista industrial building for approximately $6.8 million, according to CoStar Group and public data.

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Slater’s 50/50 Restaurants to be Sold

Scott Slater, whose University Heights eatery S&M Sausage and Meat closed last month, said this week he will sell his six-unit chain of Slater’s 50/50 restaurants, best known for burgers half-bacon and half-ground beef.

San Diego Venture Group Announces PitchFest Winners

Two San Diego startups won the final round of San Diego Venture Group’s PitchFest competition: technology upstart Lymber and biotech Sun Genomics.

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Qualcomm's Tricorder X Prize Finalists Announced

The Qualcomm Foundation-sponsored Tricorder X Prize competition is down to two finalists: a company from Pennsylvania and a company from Taiwan.

Navy Awards $187.7 Million Contract for Coronado Project

The U.S. Navy awarded Indiana-based Energy Systems Group LLC a $187.7 million task order to make improvements at Naval Base Coronado.

Port Commissioners OK Plan for 10th Avenue Marine Terminal

Port commissioners approved a plan to modernize the San Diego waterfront’s 10th Avenue Marine Terminal beginning in the summer.

JLL Relocates San Diego Office to Aventine Campus

Commercial real estate services provider JLL has relocated its San Diego regional office to the Aventine office building at University Towne Center, the company announced.

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SDG&E Inks Deal to Convert Part of its Fleet into Hybrid Vehicles

San Diego Gas & Electric has arranged to buy systems for converting part of its truck fleet into plug-in hybrid vehicles.

Wednesday, December 14

Hank Nordhoff to Lead Sanford Burnham Prebys' Board of Trustees

Sanford Burnham Prebys Medical Discovery Institute’s board of trustees has found a new chairman in Hank Nordhoff, a San Diego health care executive and member of the board since 2012.

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National City Retail Property Sells for $6 Million

San Diego-based Bill Jay Corp. has purchased a National City retail property for $6 million, according to brokerage firm Retail Insite.

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Kevin Walden Appointed CIO at Kratos Defense

Kratos Defense & Security Solutions Inc. said Dec. 13 that it has appointed Kevin Walden as its chief information officer. Walden, who will continue to work at the company’s University City headquarters, has been acting CIO since earlier this year. He was previously chief technology officer at High Technology Solutions Inc., a defense contractor that Kratos bought in 2004.

Frederick W. Pierce Named Chairman of SDSU Business College Board

A San Diego State University alumnus who runs a student housing company has been chosen to head the university’s College of Business Administration board of directors.

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Startup Empyr Partners With Yelp

San Diego startup Empyr, which runs an online-to-offline ad marketing platform, has partnered with review website Yelp to allow the businesses listed on the site to offer users cash back discounts on in-store purchases.

Anthony’s Fish Grotto Plans Jan. 31 Closing for San Diego Restaurant

Operators of Anthony’s Fish Grotto have announced a Jan. 31 closing for the iconic San Diego restaurant, after 52 years at its current Harbor Drive location and 70 years total on the downtown waterfront.

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Appeals Court Rules Tri-City Healthcare District Must Pay $12.1 Million

California’s Fourth District Court of Appeal has denied Tri-City Healthcare District’s request to delay a $12.1 million payment on a disputed medical office building.

Oceanside Startup Reaches Final Round of NASA Competition

A mostly unknown little startup in Oceanside named Aequor Inc. has reached the final round of a NASA competition to find technology that will help support life in space.

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S.D. Venture Group Opens Satellite Office for Local Startups in Silicon Valley

San Diego Venture Group has really upped its game this year, rolling out yet another program to siphon Silicon Valley goods for San Diego companies.

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Tuesday, December 13

Trovagene Cuts 20 Staff Members As It Sharpens Priorities

Trovagene Inc., a local diagnostics company in San Diego, has announced a reorganization of the company’s priorities that resulted in a 20-person cut to its staff and a cost savings of $4 million per year.

Betty Ford Center Named In-Network Provider for Scripps

The Betty Ford Center that opened Dec. 13 in Del Mar Heights will be an in-network provider of substance use disorder treatments for the Scripps Health network.

S.D. Tech Company Wins $100,000 Grant From EPA

A San Diego company’s idea for a cooking stove that generates up to 10 watts of household electricity while producing only minimal emissions has won a $100,000 grant from the U.S. Environmental Protection Agency.

Ramona Apartment Property Sold for $3.6 Million

Block Builders Investment Group LLC of San Diego has acquired a Ramona apartment property for approximately $3.6 million, according to brokerage firms CBRE Group Inc. and Marcus & Millichap.

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Carlsbad Industrial Building Sells for $2.9 Million

TLR Properties of Los Angeles has acquired a Carlsbad industrial building for $2.9 million, according to brokerage firm Lee & Associates.

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Chula Vista Distributor Acquired by New York Competitor

Plastics & Metals Enterprises, a Chula Vista-based provider of plastic and metal sheets, tubes and rods that does business as Cal Plastics and Metals Inc., has been acquired by a large competitor based in Orchard Park, N.Y.

Alphatec Spine Appoints CEO, Two Other Execs

Carlsbad-based Alphatec Spine Inc., a medical device company making spinal fusion technology, has appointed a new chief executive and two other senior leaders with plans to fuel sales.

Qualcomm, Google to Collaborate on Operating System

Qualcomm Inc. said it plans to collaborate with Google on the Android Things operating system, which Google announced on Dec. 13.

Council Members Offer $1-per-year Mission Valley Lease to Chargers

Four San Diego City Council members are asking the San Diego Chargers to consider staying at the team’s current Mission Valley stadium location at a rate of $1 per year under a 99-year-lease. The council members deem the proposal “a good starting point” for their requested new negotiations to keep the Chargers from leaving the city for Los Angeles.

Monday, December 12

Acclaimed Neuroscientist and His Staff Leave Scripps for Sanford Burnham Prebys

In another high-profile defection in San Diego’s Alzheimer’s disease research community, The Scripps Research Institute has lost an acclaimed neuroscientist – along with 25 members of his laboratory staff – to Sanford Burnham Prebys Medical Discovery Institute.

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Two Senior Execs Join Cubic Mission Solutions

Cubic Mission Solutions named two executives to vice president posts, announcing the moves on Dec. 12. Mission Solutions is a business division of Kearny Mesa-based Cubic Corp (NYSE: CUB).

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App Maker Evernote to Set Up Engineering Office in San Diego

Popular app maker Evernote is opening an engineering office in San Diego.

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Operators Complete $12 Million Renovation of DoubleTree Hotel

Operators of the 174-room Hotel Karlan have completed a $12 million renovation and rebranding of the DoubleTree hotel in San Diego’s Carmel Highland community.

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Lyft Study Says Ride-Sharing Co. Boosted S.D. Econonmy by $48.5 Million

The ride-hailing company Lyft said it will have given the San Diego economy a $48.5 million boost by the end of 2016, according to a study the company commissioned.

Corless Named Chief People Officer at Sunrise Management

San Diego-headquartered Sunrise Management, which oversees apartments and other multifamily properties, has named Marc Corless to the position of chief people officer.

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Ex-Google Ventures Boss Drops Plans for $230M Life Sciences Fund

Bill Maris, the founder and former head of GV, formerly Google Ventures, won't be launching a $230 million venture capital fund focused on health care in San Diego after all.

UC San Diego Plans New Educational, Cultural Center in East Village

The University of California San Diego has announced plans for a new cultural and education center in downtown San Diego, as part of a mixed-use project in East Village proposed by developer Holland Partner Group.

National Pen Co. Acquired by Dutch Firm for $218 Million

San Diego-based National Pen Co. LLC, a maker and marketer of writing instruments and other customized products for promotional purposes, has been acquired by Dutch company Cimpress N.V. The company will remain in San Diego.

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Sunday, December 11

Need for Encryption Speed Brings FHOOSH $2 Million

Local cybersecurity startup FHOOSH has raised $2 million in a venture round led by Miami-based investment group Volta Global.

Harrah's Joins San Diego's Brew Pack With SR76

Harrah’s Resort Southern California recently opened SR76, a new 5,000-square-foot brewery adjacent to the resort and casino in Valley Center.

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The Business Calendar for the Week of December 12, 2016

Some of the business events scheduled in the county for the week of December 12, 2016, and beyond.

Part of Helmet Work Heads to San Diego

TopOwl — a high-tech helmet display worn by U.S. Marine Corps aviators — is getting some support under a recently awarded defense contract.

Efficient Market Advisors Hits $1B Milestone

San Diego-based firm Efficient Market Advisors LLC said it now directly or indirectly invests more than $1 billion on behalf of investor clients and their financial advisors through its investment portfolios of exchange traded funds.

Rose, Fiesta, Peach, Orange... Add Up to $1.5 Billion

A new study by San Diego State and George Washington universities estimates the economic impact of the nation’s 41 post-season college bowl games at $1.5 billion per year, with benefits of individual events varying according to the timing of the competitions and prominence of the teams involved.

Sorrento Mesa Industrial Property Acquired for $3.7 Million

San Diego-based Ohana Kala LLC has purchased a Sorrento Mesa industrial warehouse property for $3.7 million, according to Voit Real Estate Services.

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National Funding Inviting 8,000 Special Guests to Holiday Bowl

San Diego-based alternative lender National Funding will give 8,000 tickets to the Holiday Bowl to first responders, such as police officers and firefighters, and military personnel, the company said.

Four Small Local Businesses to Bid on Navy Construction Contracts

Four small businesses from San Diego County and one from Alaska were selected to bid on U.S. Navy construction projects and may have up to five years of work ahead of them.

Chula Vista Industrial Building Sold for $9.4 Million

Rethwisch Enterprises LLC of Villa Park has acquired a Chula Vista industrial building for $9.4 million, according to brokerage firm Colliers International Group Inc.

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University Heights Apartment Property Sells for $2.28 Million

San Diego-based Vaeurus Urban Lifestyles Fund II LLC has purchased a nine-unit apartment property in University Heights for $2.28 million, according to brokerage firm Apartment Consultants Inc. (ACI)

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Sempra Subsidiary Supporting Pilot Program for an Innovative Hydrogen Energy Project

A pilot program funded by a subsidiary of San Diego-based Sempra Energy is producing hydrogen from excess renewable energy then using the gas for heating and other purposes.

SDCCU's Assets Up 9% for Q3

San Diego County Credit Union, the largest locally-owned financial institution in the county, said it had assets of $7.7 billion at the end of the third quarter were up 9 percent from the previous year.

Friday, December 9

Harrah’s Resort Opens On-site Craft Brewery

Harrah’s Resort Southern California recently opened SR76, a new 5,000-square-foot brewery adjacent to the resort and casino in Valley Center.

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National Funding to Give Military, First Responders a Holiday Bowl Experience

San Diego-based alternative lender National Funding will give 8,000 tickets to the Holiday Bowl to first responders, such as police officers and firefighters, and military personnel, the company said.

Business Calendar for Week of December 12, 2016

Some of the business events scheduled in the county for the week of December 12, 2016, and beyond.

Chula Vista Industrial Building Sells for $9.4 Million

Rethwisch Enterprises LLC of Villa Park has acquired a Chula Vista industrial building for $9.4 million, according to brokerage firm Colliers International Group Inc.

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Efficient Market Advisors LLC Hits $1B Milestone

San Diego-based firm Efficient Market Advisors LLC said it now directly or indirectly invests more than $1 billion on behalf of investor clients and their financial advisors through its investment portfolios of exchange traded funds.

University Heights Apartment Property Sold for $2.28 Million

San Diego-based Vaeurus Urban Lifestyles Fund II LLC has purchased a nine-unit apartment property in University Heights for $2.28 million, according to brokerage firm Apartment Consultants Inc. (ACI)

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Need for Encryption Speed Brings Cybersecurity Firm $2M

Local cybersecurity startup FHOOSH has raised $2 million in a venture round led by Miami-based investment group Volta Global.

Sempra Subsidiary Supports Pilot Program for Hydrogen Energy Project

A pilot program funded by a subsidiary of San Diego-based Sempra Energy is producing hydrogen from excess renewable energy then using the gas for heating and other purposes.

Thursday, December 8

S.D. Survey Finds IT Execs See Staff Expansion in First Half of 2017

Fifteen percent of San Diego-area technology executives surveyed recently expect to expand their IT teams in the first half of 2017, according to the latest report from Robert Half Technology, a technology recruitment firm that tracks IT hiring activity in the U.S.

Retail Property in Little Italy Sells for $3.15 Million

India and Juniper LLC of San Diego has acquired a Little Italy retail property for $3.15 million, according to brokerage firm Colliers International Group Inc.

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BAE Dry Dock Completes Transpacific Journey

Tugboats hired by BAE Systems towed the company’s new, 950-foot floating dry dock to the company’s Barrio Logan shipyard on Dec. 8, following a transpacific journey from its builders in China.

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Point Loma Retail Center Sold for $2.45 Million

San Diego-based Williams@Rosecrans LLC has acquired a strip shopping center in Point Loma for $2.45 million, according to brokerage firm Franco Realty Group.

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Sharp HealthCare Nurses Ratify Three-Year Contract

Nurses who recently threatened to strike at Sharp HealthCare hospitals have ratified a new three-year contract with the San Diego-based company.

Qualcomm's Snapdragon to Power Microsoft's Windows 10

Engineers with Qualcomm Inc. and Microsoft Corp. are at work on a new type of computer that will run the Windows 10 operating system on the San Diego company’s next generation Snapdragon processor.

Murphy Development Nears Completion of Otay Mesa Industrial Park

San Diego-headquartered Murphy Development Co. is nearing completion on its Siempre Viva Business Park in Otay Mesa, with the recent groundbreaking on an $11.9 million industrial building at 8500 Kerns St.

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LRAD Corp. Records Net Loss of $1.3M

LRAD Corp., which makes a unique sort of loudspeaker for militaries and governments, reported a net loss of $1.3 million, or 4 cents per share, on revenue of $16.4 million in its 2016 fiscal year, which ended on Sept. 30.

Wednesday, December 7

Home Sharing Dollars Stay in Our Community

The San Diego City Council recently took a bold stance by rejecting a proposal by councilwomen Sherri Lightner and Lorie Zapf that would have put an end to home sharing in the city.

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Operation Gratitude Delivers Bags of Candy, Loads of Thanks

Gentle Dental, a dental provider with 11 locations in San Diego County, participated in the 2016 Halloween candy give-back program with Operation Gratitude.

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House Gives Buyer a Chance to ‘Make History’ or Just Enjoy It

The seaside resort town of Del Mar is just 1.8 square miles, but within its boundaries are some of the most architecturally significant and interesting homes in San Diego County.

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Casino Center Is Example for The Q on Aging Gracefully

SPORT: Hahn Sees Ways to Make Stadium Good Again

Critics long have called for the replacement of the aging Qualcomm Stadium, the current home of the San Diego Chargers, but not everyone thinks the structure is ready for the wrecking ball.

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Charter Schools Chalk Up Health Care Savings to Benefits Trust

WORKFORCE: Trust’s Success Requires That It Be Carefully Managed

Local benefits consultants — the innovators San Diego’s business community looks to for help in capping health insurance costs — have identified another industry they believe can gain from a risk-pooling strategy that continues to win converts among tech and bioscience companies.

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Brokers and Buyers Feel the Pain of Health Insurance Commission Cuts

Asense of loyalty obliges Mission Valley insurance broker Michael Dysart to continue serving his longtime clients in the individual health benefits market. But he won’t take on new customers.

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The Shoppes’ Multipurpose Makeover Is About People Pleasing

After years of delays and ownership changes, it appears that the long-fading mall in northern Carlsbad, known as Plaza Camino Real when it opened nearly a half-century ago, is ready to benefit from an extensive renovation.

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Great Mentoring and Greater Diversity Are Partnership’s Goals

MyStartupXX, one of the few local startup accelerators for women entrepreneurs, is partnering with Athena San Diego to match successful female mentors with budding founders.

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Grant Will Spur Adoption Of Water-Saving Innovations

Two local startups that make water-saving technology will benefit from a grant recently awarded to Cleantech San Diego, which will ultimately get the startups’ products into buildings and homes.

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For Now, Biotech Back in the Dumps After a Trump Bump

So much for the Trump Bump to biotech.

Here’s A Sneak Peek into Cox’s Latest Fiber Optic Technology

What does it mean when you say technology is state of the art? As time passes, that definition morphs into something new. Research, ingenuity and capital investment (by both individuals and governments) spur technology forward. Things get faster. Cheaper. And we hope, better.

It’s Not Surprising CycloPure Has Smart Way to Take Out Toxics

CLEAN-TECH: Purifying Water, Air May Be Done In a More Targeted Way

A typical startup business is often too frail and vulnerable to make it to adulthood. A couple of things, however, give San Diego-based CycloPure Inc. a remarkably robust start.

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Renovations Dominate Commercial Projects

CONSTRUCTION: Value Is Trending Above 2015

Converting older non-residential buildings for new and updated uses makes up more than three-quarters of the work being done these days by busy San Diego construction firms like Jaime Partners, and industry observers say those kinds of projects present further growth opportunities for local contractors in 2017 and beyond.

New Fed Framework May Benefit Fintechs

FINANCE: Rule Averts State-by-State Licensing

Ask finance folks what’s keeping them up at night and they’ll tell you keeping up with stringent post-recession government regulations.

Casino Center Discovers Secret to Longevity

VENUE: Upgrades Keep Facility Fresh, Relevant

The Valley View Casino Center — formerly the San Diego Sports Arena — is seemingly immune to the passage of time.

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Dominating A Field of Play

GAMING: Psyonix’s Drive Pays Off, As Small Co. Makes a Very Big Score

The video game developers at Psyonix Inc. are living proof that experimentation pays off.

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Irvine Game App Maker Buys S.D. Puzzle Firm

MobilityWare in Irvine bought Critical Hit Software in San Diego on undisclosed terms.

Liberty Public Market Ranks 13th Among U.S. Food Halls

San Diego’s Liberty Public Market in Point Loma placed at No. 13 in a recent national ranking of the top 20 food halls, as part of an urban retail report by brokerage firm Cushman & Wakefield.

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Google Ventures Founder Reportedly Raising $230M For S.D.-Based VC Fund

Bill Maris, the founder and former head of GV, formerly Google Ventures, reportedly is raising a $230 million venture capital fund that will be headquartered in San Diego, the popular technology news website Recode said this week.

Anthem Blue Cross, DaVita VillageHealth Collaborate

Anthem Blue Cross and DaVita VillageHealth are launching a Medicare Advantage treatment program in San Diego County designed specifically for kidney failure patients.

Crowne Plaza Hanalei Hotel in Mission Valley Gets New Owner

A private client of Irvine-based Brighton Management has purchased the 419-room Crowne Plaza Hanalei hotel in Mission Valley, according to brokerage firm CBRE Group Inc. The price was initially not disclosed by the buyer or seller, but was subsequently reported by CoStar Group at approximately $49 million.

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ScaleMatrix Opens Accelerater/Coworking Space for Startups

Computer storage specialist ScaleMatrix, a local startup that’s grown rapidly in the last few years, is opening a startup accelerator and coworking space for life science and technology companies.

Navy Awards Northrop Grumman $9.6 Million Contract

The U.S. Navy said Dec. 5 that it placed a $9.6 million software order with Northrop Grumman Corp.

Illumina Expands Team With Appointment of Sam Samad as SVP/CFO

Local science technology giant Illumina Inc. has announced the expansion of its senior leadership team with the appointment of Sam A. Samad.

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Qualcomm Demonstrates First Processor for Data Centers

Qualcomm Inc. said it demonstrated its first processor for data centers in a move interpreted as a challenge to rival processor-maker Intel Corp. (Nasdaq: INTC). Qualcomm (Nasdaq: QCOM) added that it was distributing samples of its Centriq 2400 server processor to potential industry partners.

SeaWorld San Diego Cutting 60 Jobs Amid Nationwide Layoffs

SeaWorld San Diego is laying off 60 workers, as part of 320 nationwide job cuts announced Dec. 6 by its Florida-based parent firm, SeaWorld Entertainment Inc.

Tuesday, December 6

Local Job Growth Expected to Slow Next Year

Despite a hiring surge in health care and gains in hospitality, job growth in San Diego County will slow next year as the area’s high cost of living limits the inflow of job-seekers, according to a new report by Los Angeles-based Beacon Economics LLC.

CBRE to Relocate Main San Diego Office to Westfield UTC

Commercial real estate services firm CBRE Group Inc. plans to move its central San Diego office in University Towne Center to the Westfield UTC mall, which is currently undergoing a $585 million renovation and expansion by owner Westfield Corp.

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Noble Americas Energy Solutions Acquired By Texas-Based Company

Power plant operator Calpine Corp. has acquired San Diego-based Noble Americas Energy Solutions LLC, one of the nation’s leading energy retailers.

US Grant Hotel Nears Completion of $13 Million Revamp

Operators are nearing completion of a $13 million revamp of downtown San Diego’s The US Grant hotel, which included an update of its lobby, meeting and wedding venues, fitness center and all 270 guest rooms.

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Anderson Audio Visual Acquired By Florida-Based Company

San Diego-based Anderson Audio Visual has been acquired by Tampa, Fla.-based AVI-SPL.

Sorrento Mesa Industrial-Office Property Sells for $7 Million

A San Diego buyer recorded as Rodney R. Starkey A Trust has acquired a Sorrento Mesa industrial building for $7 million, according to brokerage firm Marcus & Millichap.

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Quartus Engineering Relocates Its Headquarters, Manufacturing Space to New Facility in UTC

San Diego-based engineering and manufacturing firm Quartus Engineering Inc., which works with the aerospace, defense and optical industries, recently relocated its corporate headquarters, offices and manufacturing space to a new 47,000-square-foot facility in University Towne Center.

Otonomy Inc. Names New Chief Scientific Officer

San Diego drugmaker Otonomy Inc. is bringing on a new chief scientific officer with the appointment of Kathie M. Bishop.

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Arcturus Therapeutics to Collaborate With Takeda on Therapies for Liver Ailment

Arcturus Therapeutics, a biotech upstart in San Diego, is collaborating with global pharmaceutical giant Takeda Pharmaceuticals to develop therapies for fatty liver disease.

Monday, December 5

Qualcomm Spinoff Gimbal Acquired By a Santa Monica-Based Mobile Media Company

Gimbal, a tech business that was spun out of Qualcomm Inc. in 2014, has been sold to a Santa Monica business called The Mobile Majority.

County’s Construction Starts Rise 29% in First 10 Months of 2016

The value of San Diego County’s construction starts rose 29 percent from a year ago in the first 10 months of 2016, topping $3.61 billion, according to the latest monthly figures from Dodge Data & Analytics.

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Innovative Industrial Properties Begins Selling Stock Shares

San Diego-based Innovative Industrial Properties Inc., a new investment company focused on medical-use cannabis facilities, plans a Dec. 6 close on a $67 million initial public offering of common stock that began on Dec. 1.

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Varioscale Inc. Gets $23.8M Air Force Contract to Develop a Prototype Analysis Tool

The Defense Department buys big-ticket items, but sometimes it concentrates on the very small.

LPL Financial CEO to Retire January 3

Mark Casady, CEO of LPL Financial LLC, a custodian for registered investment advisors, and a wholly owned subsidiary of LPL Financial Holdings Inc., will retire Jan. 3, the company announced Dec. 5.

Biocept Receives Delisting Warning Letter From Nasdaq

Biocept Inc., a liquid biopsy test maker in San Diego, is facing potential delisting from the Nasdaq as the biotech's stock value has been less than $1 per share for too long.

CPUC to Hold Hearings on SDG&E's Bid to Recover Costs From Wildfires

San Diego Gas & Electric’s bid to recover $379 million in wildfire-related costs will soon be the subject of public meetings.

Sharp Reaches Tentative Agreement With Nurses Union

Sharp HealthCare and a labor union representing many of its nurses have reached tentative agreement on a new three-year contract.

Croughan Named GM of Two Carmel Valley Hotels

RAR Hospitality has named David Croughan as general manager of two of its hotels in Carmel Valley – the 84-room Hilton Garden Inn San Diego-Del Mar and the 120-room Homewood Suites by Hilton San Diego-Del Mar.

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Renova Therapeutics Names New CFO

Local gene therapy biotech Renova Therapeutics Inc. has hired Catherine Bovenizer as the company’s new chief financial officer.

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Sunday, December 4

Grant Will Help Put Local Cos.' Water-Saving Innovations to Work in S.D.

Two local startups that make water-saving technology will benefit from a grant recently awarded to Cleantech San Diego, which will ultimately get the startups’ products into buildings and homes.

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Bowens Retiring in March from Airport Authority CEO Post

Thella F. Bowens will retire on March 31, 2017, after 15 years as president and CEO of the San Diego County Regional Airport Authority, which operates San Diego International Airport.

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Tickets On Sale for San Diego Business Journal’s 2017 Economic Trends

Seats are still available for San Diego Business Journal’s 2017 Economic Trends on January 5, 2017 at the Hyatt Regency La Jolla at Aventine.

The Business Calendar for the Week of December 5, 2016

Some of the business events scheduled in the county for the week of December 5, 2016, and beyond.

Second Office Building Planned After $31.3M Site Purchase in Scripps Ranch

Carlsbad-based developer Newport National Corp. has acquired a 20.9 acre site containing an office building, in San Diego’s Scripps Ranch submarket, for approximately $31.3 million, according to brokerage firm Colliers International.

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California Economic Index Continued Its Momentum in September

Comerica Bank's California Economic Activity Index increased by 1.6 percentage points in September to a level of 124.3, the bank said. According to Comerica, September's reading was 40 points, or 48 percent, above the index cyclical low of 84.1.

Birth Center Opens at Palomar Medical Center

Palomar Health has opened a new birth center at Palomar Medical Center Escondido, replacing a similar facility it has long operated in the city’s downtown.

Carlsbad Mall Renovation Brings in Yard House and Cheesecake Factory

The Cheesecake Factory and Yard House restaurants, along with clothing retailer Zara, will join the tenant roster in 2017 as part of an extensive renovation currently underway at The Shoppes at Carlsbad, mall operator Rouse Properties announced.

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MiraCosta College Receives $6M Grant for Training Underserved Populations in Needed Job Skills

MiraCosta College said it received a $6 million grant from the U.S. Department of Labor to administer workforce development programs in four community college districts in San Diego and San Bernardino counties.

Pacific Bariatric Surgical Group Joins Scripps

Scripps Clinic Medical Group has expanded its services in the Hillcrest area with the addition of Pacific Bariatric Surgical Group.

Appeals Court Defers to CPUC, Clears Way for Carlsbad Energy Center

A state appeals court has ruled in favor of a proposal to build a natural gas-fired power plant in Carlsbad.

Diners' Reviews Bring National Recognition for Local Restaurant

A San Diego restaurant has been ranked among the top 100 in the nation by OpenTable, an online reservation network for fine dining.

Friday, December 2

Business Calendar for Week of December 5, 2016

Some of the business events scheduled in the county for the week of December 5, 2016, and beyond.

Carlsbad Mall Renovation Brings in Cheesecake Factory, Yard House

The Cheesecake Factory and Yard House restaurants, along with clothing retailer Zara, will join the tenant roster in 2017 as part of an extensive renovation currently underway at The Shoppes at Carlsbad, mall operator Rouse Properties announced.

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Palomar Health Opens a New Birth Center

Palomar Health has opened a new birth center at Palomar Medical Center Escondido, replacing a similar facility it has long operated in the city’s downtown.

State Economic Index Increased 1.6 % in September

Comerica Bank's California Economic Activity Index increased by 1.6 percentage points in September to a level of 124.3, the bank said.

Thella Bowens to Retire in March From Airport Authority CEO Post

Thella F. Bowens will retire on March 31, 2017, after 15 years as president and CEO of the San Diego County Regional Airport Authority, which operates San Diego International Airport.

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Thursday, December 1

Creativity is Key to Our Future Tech Workforce

Recent talk suggests San Diego’s future as a frontrunner in the tech industry is here. As the city evolves into its predicted tech haven, much like Silicon Valley, will our workforce be up to snuff? To ensure our future workforce is ready to take the reins, the obvious answer is to squeeze STEM education into San Diego’s youth — but that approach neglects a key element.

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Volunteers Mobilize to Deliver Special Thanksgiving Meals

More than 150 Outreach Impacting Lives volunteers distributed 900 Thanksgiving meals to enlisted military families in San Diego County through a collaboration with the Military Outreach Ministry or MOM San Diego. Each meal consisted of a 15-pound turkey and 10 side dishes.

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Deal them in: 2017 Conditions Should Coax Cos. to Bet on M&A

When the last day of 2016 rolls around, the value and number of mergers and acquisitions completed nationwide may not reach the high-water market set in 2015, but the number of major deals in the pipeline and a potential relaxing of antitrust regulations have experts bullish about 2017.

M&A Culture Helps Hone and Spread the Wealth of Business Talent

Adam Simpson’s parents worried about his habit of growing small bioscience companies to the point where they would be acquired by a large pharmaceutical company.

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Convention Center’s 2016 Economic Impact: $1.1B

The San Diego Convention Center generated $1.1 billion in regional economic impact during fiscal year 2016, including $658 million in direct attendee spending, center operators reported.

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Partner Puts Mettle to the Pedal to Support Fellow Athletes

Jake Ryan was one of the 135 bike riders who recently participated in the 11th annual “Mazda Foundation Million Dollar Challenge” organized by the Challenged Athletes Foundation (CAF).

PitchFest Competitors Head Into Final Inning

Four local startups have made it to the final round of San Diego Venture Group’s annual VC PitchFest.

One Acquisition Brings Change to Three Cos.

San Diego startup Email Copilot has been acquired by New York-based Return Path Inc., an email data software company. The Email Copilot team, however, isn’t leaving San Diego.

Innovative Products Show Cos. Take Technology and Run With It, Swim, Too

San Diego’s oldest startup accelerator CONNECT has crowned 10 local companies “most innovative” of the year at its signature event — Most Innovative New Product Awards.

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GA-ASI Prepares to Fill a King-Size Contract for Predator B

A $1 billion British order for Predator unmanned aircraft is winding its bureaucratic way toward General Atomics Aeronautical Systems Inc. GA-ASI said it expects to start deliveries to the U.K. Royal Air Force in late 2018.

From the Air, Drones Break New Ground Working for SDG&E

UTILITY: Craft’s Current Reconnaissance Role Expected to Expand

Until unmanned aircraft came along, a typical workday at San Diego Gas & Electric Co. might involve driving to a rural area, setting up traffic control, hiking up a rattlesnake-infested hill, then climbing a tall pole outfitted with high-voltage equipment — all to inspect a single site.

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Chamber Appoints Hannah Castillo to New Leadership Development Position

The San Diego Regional Chamber of Commerce has appointed a political campaign manager to the newly created position of leadership development manager.

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Dual Agency Brings Up Questions of Fiduciary Transparency

LAW: Real Estate Agents Face Conflict Of Interest Issues

California moved last year to require disclosures by commercial real estate brokers who represent both the buyer and seller in a deal, reflecting an internal policy that already existed at many brokerages and the legal standard for residential brokers.

Rancho Bernardo Office Property Housing Bel Fuse Sold for $3.5 Million

San Diego-based Sabin Holdings LLC has purchased a Rancho Bernardo office property currently housing Bel Fuse Inc. for $3.5 million, according to brokerage firm Colliers International Group Inc.

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Capital Flows to New Blood Work Diagnostic

BIOTECH: Doctors Would Do Tests, Get Results in Minutes

With the media spotlight on the failure of the notorious (and now-disgraced) unicorn Theranos Inc., you would expect the company’s competition to suffer by association.

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Navy Awards Raytheon Five-Year Contract

The U.S. Navy awarded Raytheon Co. a five-year deal to provide engineering technical services and field services for specialty radar systems that go on small aircraft such as F/A-18 Hornets, EA-18G Growlers and Harrier jump jets.

Vista Retail Center Owner Obtains $37 Million in Refinancing

Owner ValCenters of Newport Beach has obtained $37 million in refinancing for North County Square, a grocery-anchored retail center in Vista, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

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Assisted Living Meets Sharing Economy

HEALTH: Open Units Used for Short-Term Stays

Short-term stays are not a big focus for Cornerstone Senior Living and other assisted living community operators. But that could change if things go well with the local rollout of a service similar to Airbnb for seniors in need of limited-time, “respite” care.

Edico Genome to Partner With Amazon Web Services

La Jolla’s tech startup Edico Genome Inc. has landed a partnership with Amazon Web Services, a subsidiary of Amazon that offers a suite of cloud computing services.

Deering Tunes In to Overseas Potential

TRADE: Price, Culture Come Into Play for Banjo Maker

During a five-day music festival in the Indian tourism capital of Jodhpur, Spring Valley businessman Greg Deering received a great deal of attention just walking around with one of his signature banjos.

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Old Town Office Property to Become Hotel After $2.2 Million Purchase

San Diego-headquartered Hotel Investment Group (HIG) has acquired an Old Town office complex for $2.2 million, with plans to convert it into an extended-stay boutique hotel.

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San Diego Airport Passenger Traffic Up 3.2 Percent So Far in 2016

Passenger traffic at San Diego International Airport increased 3.2 percent from a year ago in the first 10 months of 2016, topping 17.3 million, according to the latest monthly data from airport operators.

Foodies Joining Breakfast Club

DINING: Morning Diners Get Inventive Menu, Hip Settings, Hearty Servings

Restaurateur Johan Engman is doubling down on his bet that San Diego’s burgeoning foodie culture can translate to breakfast hours, especially on weekdays, when time-strapped commuters increasingly scarf down fast-food fare in their cars or at their work desks.

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Cubic Corp. Closes $10 Million Acquisition of U.K.-Based Tech Firm

Cubic Corp. closed a $10 million acquisition of Vocality, a U.K.-based specialist in secure communications technology, the companies announced on Nov. 30.

SDCCU Launches Mobile Application Called SDCCU Wallet

San Diego County Credit Union, the largest locally owned credit union in the county, recently launched a mobile application called SDCCU Wallet that allows customers with iPhones to get cash from SDCCU ATMs without their debit card.

Local Economic Index Shows Little Change

A local economic index came in unchanged again in October, leaving the gauge essentially flat during the last eight months and prompting new questions about which direction San Diego County’s economy may be headed in the near term.