Stories for April 2017

Sunday, April 30

Condor Airlines Starting San Diego Flights to Frankfurt

Germany’s Condor Airlines plans a May 1 start for its previously announced direct flights connecting San Diego with Frankfurt. It is the first-ever direct local service to Germany and the only nonstop connection between San Diego and continental Europe.

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Qualcomm Inc. Lowers Q3 Guidance as Battle With Apple Gets Uglier

Qualcomm Inc. lowered its guidance for its current, third quarter as its dispute with Apple Inc. continued.

3 Trends Ruling Retail Real Estate in 2017

Project and tenant announcements of the past few weeks, combined with first-quarter data, reveal some prominent patterns driving San Diego County’s retail space climate so far this year.

Maxwell Technologies Completes Nesscap Energy Acquisition

San Diego-based Maxwell Technologies Inc., which makes energy-storage electronics called ultracapacitors, said April 28 it has completed the acquisition of Nesscap Energy Inc.

Two Sponsors Will Open New Doors for June's Startup Week

Organizers for the city’s largest startup event, San Diego Startup Week, just landed two big sponsors that will provide space and cash for the week-long event in June.

San Diego County Credit Union's Assets Hit $8.1 Billion Mark in Q1

San Diego County Credit Union’s assets were up to $8.1 billion at the end the first quarter, an increase of nearly 9 percent compared with the like period last year, the financial institution reported April 26.

The Business Calendar for the Week of May 1, 2017

Some of the business events planned in the county for the week of May 1, 2017, and beyond.

You Can Touch Base With Top Tech Execs at Huge Awards Event at Petco Park

Tickets to one of San Diego’s most popular high-tech gatherings are on sale now.

Sorrento Subsidiary, TNK Therapeutics, to Acquire Scotland-Based Co. in Deal Potentially Worth $34.4M

TNK Therapeutics Inc., a subsidiary of San Diego’s Sorrento Therapeutics Inc., is acquiring Scotland-based Virttu Biologics in a stock deal worth up to $34.4 million.

Office-Industrial Development Planned After $30.7M Carlsbad Land Purchase

Phoenix-headquartered Levine Investments LP has purchased 17.6 acres of land in Carlsbad for approximately $30.7 million, with plans to build a new office-industrial complex, according to CoStar Group and public data.

S.D. Sport Innovators Announces Five New Board Members

San Diego Sport Innovators (SDSI), the nonprofit business development organization dedicated to fostering the growth of the sport and active lifestyle (SAL) industry, announced the addition of five members to its board of directors.

Scripps Ranch Industrial Park Sold for $31.4 Million

A joint venture that includes La Jolla-based Hill Properties has acquired a nine-building industrial park in Scripps Ranch for $31.4 million, according to CoStar Group and brokerage firm JLL.

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March Delivers Fifth Straight Month of Increases for Economic Index

March was a good month for the San Diego economy, and a San Diego professor has the numbers to prove it.

Cubic Global Defense Hires Diane Giuliani as SVP of Global Business

Cubic Global Defense has hired Diane Giuliani as senior vice president of global business development and strategy.

Friday, April 28

TNK Therapeutics Inc. to Acquire Scotland-Based Co. in Potential $34.4M Deal

TNK Therapeutics Inc., a subsidiary of San Diego’s Sorrento Therapeutics Inc., is acquiring Scotland-based Virttu Biologics in a stock deal worth up to $34.4 million.

Qualcomm Lowers Q3 Guidance as Battle With Apple Gets Ugly

Qualcomm Inc. lowered its guidance for its current, third quarter as its dispute with Apple Inc. continued.

Two New Sponsors Will Put Startup Week in Its Element

Organizers for the city’s largest startup event, San Diego Startup Week, just landed two big sponsors that will provide space and cash for the week-long event in June.

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Business Calendar for Week of May 1, 2017

Some of the business events planned in the county for the week of May 1, 2017, and beyond.

3 Trends Ruling Local Retail Real Estate in 2017

What's behind local retail gains...

Condor Airlines to Start San Diego Flights to Frankfurt

Germany’s Condor Airlines plans a May 1 start for its previously announced direct flights connecting San Diego with Frankfurt.

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Office-Industrial Development Planned After Carlsbad Land Purchase

Phoenix-headquartered Levine Investments LP has purchased 17.6 acres of land in Carlsbad for approximately $30.7 million, with plans to build a new office-industrial complex, according to CoStar Group and public data.

Cubic Global Defense Hires Diane Giuliani as Senior VP of Global Business

Cubic Global Defense has hired Diane Giuliani as senior vice president of global business development and strategy. The company made the announcement April 26.

Scripps Ranch Industrial Park Sold for $31.4M

A joint venture that includes La Jolla-based Hill Properties has acquired a nine-building industrial park in Scripps Ranch for $31.4 million, according to CoStar Group and brokerage firm JLL.

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San Diego County Credit Union's Assets Reach $8.1 Billion Mark in Q1

San Diego County Credit Union’s assets were up to $8.1 billion at the end the first quarter, an increase of nearly 9 percent compared to the same time last year, the financial institution reported April 26.

San Diego Sport Innovators Announces Five New Board Members

San Diego Sport Innovators (SDSI), the nonprofit business development organization dedicated to fostering the growth of the sport and active lifestyle (SAL) industry, announced the addition of five members to its board of directors.

Thursday, April 27

Realty Income, ROIC Post First-Quarter Revenue Gains

Two San Diego-headquartered real estate investment trusts – Realty Income Corp. and Retail Opportunity Investments Corp. (ROIC) – recently reported strong first-quarter growth in metrics including revenue and net income.

Can San Diego Hotels Keep Hot Streak Going?

Will San Diego County hotels be able to stretch a six-year streak of annual revenue and occupancy gains into a seventh year?

ChromaCode Raises $12 Million in Series B Round

ChromaCode Inc., a molecular information startup in San Diego, has raised $12 million in a Series B funding and appointed a former Illumina executive as the company’s executive chairman.

AltheaDx Inc. Raises $27 Million in Series D Funding

San Diego molecular information firm AltheaDx Inc. has raised $27 million in a Series D funding, the company announced.

NASSCO Has Designs on Getting New Customer

General Dynamics NASSCO builds ships for two markets: the U.S. Navy and the commercial market. But now it’s doing preliminary work for a third customer.

Vista Apartment Property Sells for $20.9 Million

San Francisco-headquartered Vista International Inc. has acquired a 140-unit apartment property in Vista for $20.9 million, according to CoStar Group and brokerage firm JLL.

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Attorney Honored for Workers’ Comp Practice

Robert McLaughlin has been named the 2017 recipient of the Applicants’ Attorney Award by the Workers’ Compensation Section of The State Bar of California.

Survivors’ Stories Show Importance of Mercy Ball’s Mission

More than 500 supporters of Scripps Mercy Hospital recently celebrated the 45th annual Mercy Ball at the San Diego Marriott Marquis & Marina. The event raised more than $465,000 for cancer care at Scripps Mercy Hospital, which has campuses in San Diego and Chula Vista.

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Home of the month - Contentment Finds A Home

Overlooking the San Diego skyline, harbor and ocean to the south, this classic Santa Barbara coastal home beckons from beyond its heavy wooden gate. A large circular drive leads to the entry of the red-tiled roof and white stucco walls of the newly built estate. The arched doorways in the interior lead through expansive, light-filled rooms of dark wood flooring, wood-beamed ceilings adorned with wrought-iron chandeliers, stair risers with multihued painted tiles and the priceless sense of peace and serenity from a bygone era.

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Kratos Makes the Ultimate Hack: Russian-Built Tank

Kratos Defense & Security Solutions Inc. said one of its business units has fitted a Russian tank, supplied by the U.S. Army, with a system that lets it operate by remote control. The Army plans to use the tank as a target.

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Contractors Get Cash to Make Course Correction on Drones

Local companies bidding on a multibillion-dollar unmanned aircraft project got a little extra money from the U.S. Navy to fund their development work.

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Why Tocagen Raised $98M

Last month, San Diego drugmaker Tocagen Inc. raised $98 million in the largest initial public offering San Diego has seen in a few years.

Bug Busters Forge on with $15M in Startup Capital

Forge Therapeutics Inc., a biotech startup that’s waging war on super bugs, just got armed with $15 million in fresh capital to fuel its research.

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Toys, Tory and More New Additions

Los Angeles-based Distroller, which sells toys for children including the Neonate Babies doll brand, plans a May 4 opening for a new store at Fashion Valley Mall in Mission Valley. This will be the first U.S. retail location for Distroller, which was founded in 2004 in Mexico City by artist Amparo Serrano and currently operates more than 60 stores in Mexico and Latin America.

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Retail Numbers Put Landlords in Driver’s Seat

The speed at which Rouse Properties has recently been filling out the tenant roster of the nearly 50-year-old mall in northern Carlsbad — deemed by locals for many years as outdated and decrepit — is testament to the local region’s still-strong drawing power for national restaurant and retail chains in the current economy.

The Shoppes at Carlsbad Gets Some ‘Fine Burgers & Drinks’

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Carlsbad’s own Islands Restaurants is among the latest new tenants to come aboard at The Shoppes at Carlsbad, Rouse Properties’ regional mall that is currently undergoing a significant overhaul off El Camino Real.

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Big-League Plays Give AleSmith A Winning Edge in the Market

MARKETING: Museum, Petco and Music Keep Brewer Ahead of Game

Among local brewers apparently benefiting from a go-bigger strategy — on a local, national and global basis — is San Diego’s AleSmith Brewing Co. Owner Peter Zien said the Miramar-based company in 2016 saw approximately 30 percent growth from the prior year in both revenue and barrels brewed, reaching about 35,000 barrels.

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Sober Assessment Time For Craft Brewing

Crowded Market, Limited Shelf Space and Other Factors Force Brewers to Have Solid Business Strategy

Brewers like Jim Crute, who has owned and operated Poway’s Lightning Brewery for the past decade, are finding that this is a critical time to assess their place in a craft beer industry where growth is slowing, and where retail shelf and tap space is getting increasingly tough to conquer.

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Takeaways From the Man Behind San Diego’s $12B Biotech

BIOTECH: Investors, Researchers Must Be on Same Page, Same Team

Osman Kibar has history in San Diego. As a graduate student at the University of California, San Diego, he played a role in founding two startups, including Carlsbad-based Genoptix Inc., though he didn’t have a management role in either.

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Engineer and Students Experiment for a Better Blast Off

TECH: Emulsion Fuel Found to Be Cleaner, Better Coolant

There are basically two kinds of rockets: ones with cakelike solid fuel, and ones with liquid fuel.

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Dual-Agency Practice Has Lawmaker Attention

LAW: Real Estate Brokers Are Marshaling Opposition

Industry opposition is likely to be huge, but Jason Hughes is pushing for California to go a step further when it comes to dealing with the practice of brokers representing both landlords and tenants in the same real estate deal — by banning it altogether.

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Improved Oil Drilling Yields: It’s in the DNA

TECH: Co. Uses Sequencing to Effectively Guide Extraction

Coaxing more oil from rock is the holy grail of the fracking industry, and San Diego startup Biota Technology Inc. can help oil producers do just that.

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Pets a Prominent Part of Pecking Order at Feed Store

RETAIL: Search for a Third Location Hindered by Zoning

The independent feed store isn’t what it used to be. Sure, there were tubs of fuzzy, peeping chicks earlier this spring in the entryway of Hawthorne Country Store in downtown Escondido. There are fully grown fowl elsewhere on the property. Feed accounts for 65 percent of the store’s volume.

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Fashion Treasure Hunters Offer Wares on the Web

Designer Vault Knows the Value of a Good Name: Chanel

Online consignment and resell stores are taking the internet by storm, with fashion resale giants like ThredUP and Poshmark leading the new retail revolution.

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Neurocrine Announces $450 Million Convertible Senior Notes Offering

San Diego drugmaker Neurocrine Biosciences Inc. is raising up to $502 million in an offering of convertible senior notes, the company announced Wednesday.

Wednesday, April 26

5 Takeaways From the Man Behind S.D.’s $12B Biotech

Osman Kibar, the founder and CEO of Samumed LLC, shares some of what he's learned about science, medicine and commerce.

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San Diego Apartments Sold for $8 Million

Bee Holdings LLC of Laguna Beach has acquired a 30-unit apartment complex in San Diego’s Golden Heights neighborhood for approximately $8 million, according to brokerage firm Apartment Realty Group (ARG).

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Chanelle Hawken Named VP of Public Affairs for Cox Communications California

Cox Communications has promoted Chanelle Hawken to vice president of public affairs for Cox Communications California.

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Q1 Earnings Show NuVasive's Strong Financial Position

San Diego medical device maker NuVasive Inc. met Wall Street’s expectations in the first quarter with revenue up 16 percent to $250 million.

New Launch Date Set for ViaSat-2

The launch of ViaSat-2, which was delayed by social unrest in South America, has been rescheduled for June 1.

Islands Restaurants Joining Roster at Rouse Mall in Carlsbad

Carlsbad-headquartered Islands Restaurants has joined a growing list of new restaurants in the dining line-up at The Shoppes at Carlsbad , the regional mall that’s in the midst of a major overhaul by owner Rouse Properties.

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Here’s How Much Illumina’s 5 Highest-Paid Executives Earned

The five highest-paid executives at Illumina Inc. each pulled in over $2 million in compensation last year, with an average of $4 million each.

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Tuesday, April 25

3 Takeaways From BofI Federal Bank’s Earnings Report

The numbers look good; CEO admonishes critics.

Big-League Plays Give AleSmith A Winning Edge

Tony Gwynn museum, Petco presence and even Sublime's music keep brewer ahead of the game.

Mogin Law Merges with D.C.-Based Firm

Locally headquartered Mogin Law Firm PC, headed by Daniel Mogin, has merged with Washington, D.C.-based Rubin PLLC, headed by Jonathan Rubin, to form MorginRubin LLP, the firms announced Tuesday.

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Callaway's CFO, Robert K. Julian, Leaves Golf Company

Robert K. Julian, chief financial officer of Callaway Golf Co., has left the company after less than two years, Callaway Golf (NYSE: ELY) announced on April 25.

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Mad Engine Acquires Irvine-Based LRG

San Diego-based licensed apparel company Mad Engine LLC has acquired Lifted Research Group Inc., the Irvine-based streetwear brand commonly referred to as LRG.

La Jolla Office Building Sells for $4.1 Million

A La Jolla buyer recorded as YDNL LLC has purchased a professional and medical office building in that village for $4.1 million, according to brokerage firm Horizon Resources Inc.

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Taylor Sandison Named Chief Medical Officer at Cidara Therapeutics

San Diego’s Cidara Therapeutics Inc., a public company developing anti-infective medications, has officially removed the “interim” from its chief medical officer’s title.

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Small S.D. Startup Joins Tech Giants On Govt Coalition

San Diego tech startup Industry was handpicked by a government agency to join a Technology Coalition meant to help small businesses use technology to their advantage.

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Monday, April 24

Sale of Novatel Wireless Hits Government Snag

Inseego Corp. announced on April 24 that it has still not received U.S. government approval for its $50 million sale of its Novatel Wireless business to a Hong Kong company. San Diego-based Inseego (Nasdaq: INSG) warned that it may have to pursue other options with the business.

Qualcomm Signs Licensing Agreement With Smartron India

Qualcomm Inc. announced on April 24 that it signed a licensing agreement with India-based Smartron India Pvt. Ltd. Financial terms of the deal were not disclosed.

Robert E. Hoffman Named CFO at Heron Therapeutics

Local biotech Heron Therapeutics Inc. has recruited Robert E. Hoffman, a longtime Arena Pharmaceuticals executive, to serve as Heron’s new chief financial officer and senior vice president of finance.

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Carlsbad Office Campus Owner Completes $15 Million Renovation

Owner Regent Properties has completed the first $15 million phase of renovations at Atlas at Carlsbad, part of a repositioning of the office campus at 5909 Sea Otter Place.

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Sudberry Opening First Park Elements at Mixed-Use Civita

San Diego developer Sudberry Properties plans an April 29 opening for the first two phases of new park space at its mixed-use Civita in Mission Valley. A total of four phases of parks and related open space will represent more than $27.7 million in development at full build-out.

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Not Everyone is Getting Squeezed by Demand For Office Property

Some clear office property patterns are emerging as local commercial real estate market data trickles in for the year’s first quarter. Here’s a sampling of observations on leasing, sales and other trends:

No Matter How They Are Counted, Local VC Deals Have Slowed

FINANCE: Lackluster Q1 Not a Major Concern As Capital Stays On Sideline

How hard can it possibly be to track the venture capital raised by local companies? Apparently it’s trickier than one might think, based on a trio of reports that regularly report on such financings nationwide.

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Startup Goverre Lands $200,000 on Shark Tank

Local startup Goverre impressed celebrity investors Friday night on an episode of ABC’s Shark Tank, landing $200,000 in startup capital.

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Sunday, April 23

Zeeto Is Bringing Much More to the Table With This Employee Perk

Many tech startups go to great lengths these days to impress top talent with workplace perks, but San Diego-based Zeeto Inc. has just upped the bar.

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Convention Center, Balboa Park Get Green-Building Status Upgrades

Two of the city’s longtime visitor mainstays — the San Diego Convention Center and Balboa Park — recently marked key sustainability certifications under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program.

Arena Raises $79.4M in Common Stock Offering

Local drugmaker Arena Pharmaceuticals has raised $79.4 million in an offering of its common stock, the company announced April 21.

The Business Calendar for the Week of April 24, 2017

Some of the business events scheduled in the county for the week of April 24, 2017, and beyond.

SDG&E Signs Contracts for Five Energy Storage Facilities

San Diego Gas & Electric Co. said it signed contracts for five new lithium-ion battery storage facilities, meant to store electricity from wind, solar or fossil fuel plants for future use.

Touch Base With Top Tech Execs at Huge Awards Event at Petco Park

Tickets to one of San Diego’s most popular high-tech gatherings are on sale now.

CityMark Completes Apartment Project in Lemon Grove

San Diego-headquartered CityMark Development recently completed and opened Celsius, a new 84-unit apartment building in the East County city of Lemon Grove with an approximate development cost of $20 million.

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Business Outlook Index Is Optimistic

Optimism about the business climate remains steady among San Diego businesses, according to the latest Business Outlook Index from the San Diego Regional Chamber of Commerce, which the organization publishes as part of a monthly economic report.

ViaSat Receives $13.7M Pentagon Contract

The Pentagon said it awarded Carlsbad-based ViaSat Inc. a $13.7 million contract to produce ground transceivers for its Blue Force Tracker 2 program.

Friday, April 21

Business Calendar for April 24, 2017

Some of the business events scheduled in the county for the week of April 24, 2017, and beyond.

Developer Completes Apartment Project in Lemon Grove

San Diego-headquartered CityMark Development recently completed and opened Celsius, a new 84-unit apartment building in the East County city of Lemon Grove with an approximate development cost of $20 million.

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Convention Center and Balboa Park Get Green-Building Status Upgrades

Two of the city’s longtime visitor mainstays — the San Diego Convention Center and Balboa Park – recently marked key sustainability certifications under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program.

Arena Pharmaceuticals Raises $79.4M in Common Stock Offering

Local drugmaker Arena Pharmaceuticals has raised $79.4 million in an offering of its common stock, the company announced April 21.

Zeeto Brings Much More to the Table With This Employee Perk

Many tech startups go to great lengths these days to impress top talent with workplace perks, but San Diego-based Zeeto Inc. has just upped the bar.

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Thursday, April 20

Cubic Global Defense to Share $231 Million Army Contract

Cubic Global Defense is among 10 contractors that will split a five-year, $231 million U.S. Army contract announced on April 19.

Scripps Health Sells Former Hospice Property in Hillcrest for $20 Million

San Diego’s Scripps Health has sold a former hospice facility that it owns in Hillcrest to a Houston-based investment company for $20 million. Camden USA Inc. plans to build a multifamily project on the eight-acre property at 4311 Third Ave., according to CoStar Group and public data.

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Mast Merger Vote Faces Delay

Mast Therapeutics Inc., a local public biotech in the process of being acquired by Austin-based Savara Inc., may have to postpone its meeting to vote on the planned merger.

Canadian Government Awards Cubic Corp. $4.5 Million Contract

Cubic Corp. said on April 20 that it received a $4.5 million contract from the government of Canada to replace an obsolete data communications network and exercise control center.

Seacoast Commerce Reports Q1 Net Income of $1.6 Million

Seacoast Commerce Banc Holdings, the parent company of Rancho Bernardo-based Seacoast Commerce Bank, reported net income of $1.6 million in the first quarter of the year, a 7.4 percent decrease compared to the same time last year when the company’s income was $1.7 million.

IriSys' Deal with National Cancer Institute Doubles to $6 Million

Local drugmaker IriSys LLC announced Thursday that its contract with the National Cancer Institute (NCI) has doubled in value from $3 million to $6 million.

Grant Supports JFS’ Efforts to Give People Skills That Work

The Jewish Family Service of San Diego was awarded more than $19,600 by the Neighborhood Reinvestment Program from the San Diego County Board of Supervisors to create a special training room that will allow the agency’s Employment and Career Services department to provide job preparation and training services. The training room will be a resource for low-income San Diegans and will include new computer equipment, training materials and supplies.

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Find Your Perfect Environment at Stonebridge Estates

The Rancho Encantada area in San Diego is a 2,658-acre community east of Interstate 15 out Pomerado Road and east of Scripps Ranch. The area is notable for its distinctive weathered ridges and deep canyons that range in elevation from 600 feet in the west to 1,777 feet in the northeast.

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Food Is the New Retail Attraction in Downtown La Mesa

HOSPITALITY: $7M In Redevelopment Spawns Dramatic Transformation

Among the latest additions to La Mesa’s burgeoning downtown restaurant scene is the full-service Farmer’s Table, billed as a “farm-to-fork” eatery with a menu emphasizing locally sourced meats and produce.

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Casinos Are Betting Big

Sycuan, Viejas Investing in Hotel Space to Capture Revenue Growth

The East County casino scene is experiencing a burst of activity.

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Recruitment Challenges Continue to Vex Innovation Employers

JOBS: Employees Have Leverage in Engineering, Skilled Manufacturing

The employer Matt Haver was recruiting for wouldn’t budge.

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After 8 Years of Absorption, Industrial May Have Peaked

COMMERCIAL REAL ESTATE | The latest in real estate and development news

Coming off a particularly strong year for space absorption and construction activity, San Diego County’s industrial property market will be hard-pressed in 2017 to match the high-demand patterns of 2016.

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How Angel Investors Missed A Calling

THE STARTUP PAGE | A look at innovative organizations, concepts, products and people

San Diego has a small pool of angel investors who supply tech startups with cash, so the same few groups get inundated with cash-poor founders asking for support.

Christina de Vaca Appointed CEO of Corporate Directors Forum

San Diego-based Corporate Directors Forum, a nonprofit that aims to better corporate governance, has selected Christina de Vaca to succeed longtime executive director Linda Sweeney.

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Reducing the ‘Maybe’ From Angel Investors

THE STARTUP PAGE | A look at innovative organizations, concepts, products and people

San Diego is what startup people call an “angel town,” meaning tech entrepreneurs rely heavily on the city’s wealthy and willing angel investors to secure their startup capital.

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Qualcomm Predicts Clear Sailing Despite Choppy Waters

We are leading the way to 5G. We’re expanding to more corners of the smartphone. Choppy waters? We’ve sailed through them before.

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Based on Trials, Attorney Refines Mock Jury Model

LEGAL: Firm Built Simulated Courtroom, Finds Own Focus Group

One of West Alliance Injury Lawyers’ most important tools for preparing its cases is to preview arguments before panels of mock jurors.

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Responsible Investing A Growing Slice of Pie

WEALTH: Impact Factors Into 20% of Managed Funds

Minding the bottom line for a business was once a simple matter of looking at the numbers.

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Gaslamp Seeking To Restore Luster

HOSPITALITY: Projects Include Entertainment, Office

Downtown property owners say elements are gradually falling into place as San Diego’s historic Gaslamp Quarter seeks to recapture some of the luster lost over the past decade as locals flocked to other urban neighborhoods including Little Italy, North Park and the nearby Ballpark District in East Village.

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For Cali Bamboo, The Grass Really Is ‘Greener’

RETAIL: Founders Leverage Plant’s Strength, Sensibilities

A black dog tears through the lobby of Cali Bamboo’s corporate headquarters in Sorrento Valley, nails scrabbling across the hardwood floor.

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Making the Magic

Nanoengineer Develops Process for Mass Production of Graphene

Sci-fi writers often dream up gadgets that scientists and engineers later bring to life.

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Wednesday, April 19

Qualcomm Q2 Earnings Exceed Expectations

Qualcomm Inc. reported second-quarter earnings of $1.34 per share on April 19 — well above the $1.25 that it put at the high end of its guidance in late January, and a 29 percent improvement to its earnings from the same quarter one year ago. Revenue was $6.0 billion.

Port District Chooses Developers for Chula Vista Waterfront RV Park

The Unified Port of San Diego has selected Sun Communities Inc. and Northgate Resorts LLC to develop a destination recreational vehicle park on the Chula Vista bayfront.

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Navy to Steer Work to Four Small Construction Firms

The U.S. Navy put four San Diego construction companies on a short list to complete for millions of dollars’ worth of projects. The work, at Navy and U.S. Marine Corps bases in California and the western United States, is specifically set aside for small businesses.

Guess the Celebrities With Costumes on Display in East County

Most casinos in San Diego County have fancy steakhouses where gamblers can celebrate their winnings.

Vista Distributor Acquired by Ohio-Based Company

Vista-based Electrical Sales Inc. has been acquired by Winsupply Inc., one of the nation’s largest distributors of electrical equipment and supplies.

Ionis Pharmaceuticals to Partner With Chinese Biotech

Carlsbad drugmaker Ionis Pharmaceuticals Inc. has inked a deal with a Chinese biotech that will help Ionis develop and sell its medicines in China.

Multifamily Brokers Switch from CBRE to Kidder Mathews

Commercial real estate services firm Kidder Mathews has announced the San Diego hiring of three multifamily investment brokers and two support personnel, who have switched over from rival CBRE Group Inc.

Tocagen Inc. Raises $97.8 Million in IPO

San Diego drugmaker Tocagen Inc. ended up raising $97.8 million in an upsized initial public offering this week, making it the largest local IPO since Otonomy’s debut in 2014.

Tuesday, April 18

State Agency Approves Charter for New S.D. Bank

San Diego’s first new bank in nearly a decade has gotten the California Department of Business Oversight’s OK to organize.

Kodiak Capital Opens Office in La Jolla

Newport Beach-based Kodiak Capital Group LLC, a fund manager for venture investments into publicly traded companies, has opened an office in San Diego, the company announced.

NASSCO Awarded $22.7 Million Navy Contract

The U.S. Navy awarded General Dynamics NASSCO a $22.7 million deal to perform dry dock work on the Freedom-class littoral combat ship USS Fort Worth, which is based in San Diego.

Philanthropist T. Denny Sanford Donates $28M to National University System

South Dakota philanthropist T. Denny Sanford presented a $28 million gift to the National University System to fund three programs. It is the largest donation in the system’s history.

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Bitcoin ATM Company Installs 3 More Machines in S.D. County

Texas-based bitcoin ATM company Coinsource is finding success in San Diego, according to CEO Sheffield Clark.

Fresh Out of College, a Future CEO Changed His Course

Steve Mitgang didn’t always see himself as a tech industry leader.

La Jolla Retail Units Sell for $4.65 Million

The Cove Equity Group of San Diego has acquired a two-unit retail condominium in La Jolla for $4.65 million, according to brokerage firm Colliers International Group Inc.

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CEOs Remain Upbeat About Economy, Survey Finds

Post-election optimism among top executives continued to rise in the first quarter of the year, according to a survey of CEOs by Vistage Worldwide LLC, the San Diego-based executive coaching company, but company leaders in San Diego weren’t quite as bullish as their nationwide counterparts.

Vista Office Property Sold for $12.8 Million

An affiliate of Chino-based Gelardo Family Trust has purchased a Vista office building for $12.8 million, according to CoStar Group and public data.

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Monday, April 17

Cooley Law Firm Recruits Partner From DLA Piper

An attorney specializing in venture debt finance has made the jump from DLA Piper, where he was partner, to Cooley LLP, where he also will be partner.

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Sharks to Evaluate Spill-Proof Wine Glass

The two local founders of Goverre, a maker of to-go wine cups, will pitch to celebrity investors this Friday on ABC’s hit TV show Shark Tank.

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San Diego-Based Callan Capital Opens First Out-Of-State Office

La Jolla-based wealth management firm Callan Capital, which has operated in San Diego for about a decade, has opened a second office.

Hospitality Services Provider Luxpitality Relocates HQ to East Village

Hospitality services provider Luxpitality has relocated its headquarters from Scottsdale, Ariz., to downtown San Diego’s East Village, the company announced.

Spiritual Campus Planned After $2.8M Escondido Land Purchase

Shanti Nivasam Corp. of San Diego has acquired a 20-acre land parcel in Escondido for $2.8 million, with plans to develop a Hindu spiritual campus, according to brokerage and research firm xREIT.

EvoNexus Bringing Major Tech Firms to Meet Startups; Here’s Why

Local startup incubator EvoNexus is bringing East Coast mobile technology company InterDigital Inc. to San Diego to meet with local tech startups.

Scott MacDonald Donates $400,000 to Endow USD Scholarship

Del Mar resident Scott MacDonald has donated $400,000 to endow a scholarship program at the University of San Diego.

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Solana Beach Mixed-Use Project Planned After $5.5 Million Land Purchase

RAF Pacifica Group of Encinitas has acquired a commercial land parcel in Solana Beach for $5.5 million, with plans for a $21 million mixed-use development.

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Sunday, April 16

How S.D.'s Angel Investors Missed Out on 2 Successful Startups

San Diego has a small pool of angel investors who supply tech startups with cash, so the same few groups get inundated with cash-poor founders asking for support.

Pentagon Funding 2 Projects at UCSD as Part of MURI Program

The Pentagon plans to fund two advanced research projects at UC San Diego.

Commercial Real Estate 2017: The Office Winners Are...

The stats gauging San Diego County’s commercial real estate performance in 2017’s first quarter are now arriving from local brokerage firms.

Developers Obtain $49.7 Million in Financing for Downtown’s Carte Hotel

Developers have obtained approximately $49.7 million in financing for the Carte Hotel & Suites, now under construction in downtown San Diego, according to Peak Finance, which secured the financing.

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OneRoof Energy Group Settles Arbitration Claim; CEO Steps Down From All Positions at Company

San Diego solar company OneRoof Energy continues to wind down its operations, this time with the resignation of its CEO David Field and the settlement of an arbitration claim against the company.

The Business Calendar for the Week of April 17, 2017

Some of the business events scheduled in the county for the week of April 17, 2017.

ESET Appoints a Global Security Evangelist

ESET, the cybersecurity software company with offices in San Diego, said April 13 that it has hired Tony Anscombe to fill a new position within the company: global security evangelist and industry partnerships ambassador.

Touch Base With Top Tech Execs at Huge Petco Park Gathering

Tickets to one of San Diego’s most popular high-tech gatherings are on sale now.

Wakeland Completes $79.3M Affordable Housing Project in Cortez Hill

San Diego’s Wakeland Housing and Development Corp. recently completed Atmosphere, a $79.3 million project with 154 affordable apartments in downtown’s Cortez Hill neighborhood.

Friday, April 14

Wakeland Finishes $79.3M Affordable Housing Project in Cortez Hill

San Diego’s Wakeland Housing and Development Corp. recently completed Atmosphere, a $79.3 million project with 154 affordable apartments in downtown’s Cortez Hill neighborhood.

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Developers of Downtown’s Carte Hotel Obtain $49.7 Million in Financing

Developers have obtained approximately $49.7 million in financing for the Carte Hotel & Suites, now under construction in downtown San Diego, according to Peak Finance, which secured the financing.

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How Local Angel Investors Missed Out on 2 Successful Startups

San Diego has a small pool of angel investors who supply tech startups with cash, so the same few groups get inundated with cash-poor founders asking for support.

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Business Calendar for Week of April 17, 2017

Some of the business events planned in the county for the week of April 17, 2017, and beyond. PSAR hosting 5-day course on National Association of Realtors’ Certified International Property Specialist Pacific Southwest Association of Realtors April 17-21, 8 a.m.-5 p.m. PSAR South County Service Center 880 Canarios Court, Chula Vista www.psar.org/cips

Commercial Real Estate 2017: The Office Winners So Far

The stats gauging San Diego County’s commercial real estate performance in 2017’s first quarter are now arriving ...

ESET Names Anscombe to Fill New Role With Company

ESET, the cybersecurity software company with offices in San Diego, said April 13 that it has hired Tony Anscombe to fill a new position within the company: global security evangelist and industry partnerships ambassador.

OneRoof Energy Settles Arbitration Claim; CEO Steps Down From All Positions at Company

San Diego solar company OneRoof Energy continues to wind down its operations, this time with the resignation of its CEO David Field and the settlement of an arbitration claim.

Thursday, April 13

Ricardo Flores Named Executive Director at LISC San Diego

LISC San Diego has named Ricardo Flores executive director.

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Drugmaker Tocagen to Raise $85 Million in IPO

San Diego drugmaker Tocagen Inc. plans to raise $85 million in an initial public offering, the company announced Thursday.

Stock Offering Shakes Investors Confidence in Sorrento Therapeutics

Stock is tanking for local drugmaker Sorrento Therapeutics Inc. following news that it intends to raise $47 million in a public stock offering.

What's Ex-Google Ventures Exec Up To?

Ex-Google Ventures boss Bill Maris considered launching a $230 million health care fund in late 2016, but ultimately thought better of it. What's he up to?

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Time for Boomers to Jump into Social Enterprise

For the past 100 years or so, we have tried to solve our greatest social challenges through the government and/or the nonprofit community. We’ve asked our best and brightest to work in industry or on Wall Street in jobs that they might not love but will produce the greatest financial return.

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Symposium Emboldens, Encourages and Empowers Students

The Academy of Our Lady of Peace hosted its Third Annual Women’s Symposium recently at its historic campus on Oregon Street in San Diego. More than 250 community guests joined the entire student body at OLP to experience this day of women’s empowerment. Funds raised will support the OLP Alumnae Scholarship Fund for students.

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Chemical Company’s Success in Sustainability Put It in Demand

Genomatica Uses Licensing Deals to Stake Its Claims In a Growing Market

What San Diego company shares the industrial process of the craft brewing sector, the genetic engineering know-how of the local University of California campus and the business model of a big local wireless company — all while offering a sustainable alternative to petrochemicals?

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Design, Build and Operate

Swinerton Sees Bright Future in Monitoring, O&M as Well as Construction

Swinerton Builders didn’t see itself operating and maintaining renewable energy plants when it entered the solar industry nine years ago. As a general contractor, it just wanted to build them.

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Spradling Gets Healthy Approval With Client Choice Award

Gary J. Spradling, founding partner of Duckor Spradling Metzger & Wynne, has been chosen by his health care clients as the 2017 Client Choice Awardee throughout California in the category of Health Care and Life Science. Nominations can only be made by in-house counsel. Established in 2005, the Client Choice Award conducts research of senior corporate counsel who voluntarily and anonymously nominate individual lawyers based on their exceptional legal representation and client service. He was among 187 winners in 32 states and four Canadian provinces, and a total of 403 winners across 66 jurisdictions worldwide.

GA-ASI Looking for Other Markets for Predator Family

DEFENSE | The latest in defense industry news

General Atomics Aeronautical Systems Inc. is working to widen its customer base for its Predator family of unmanned aircraft.

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Carlsbad Brewery Igniter Puts Startups on the Map

COMMERCIAL REAL ESTATE | The latest in real estate and development news

Less than 15 months after opening its first Brewery Igniter in Miramar, geared to early-stage beer makers, San Diego’s H.G. Fenton Co. has now filled up three of those industrial facilities in key craft-brew hubs.

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If Some League Members Aren’t Game, Subme Puts Out the Call for Players

THE STARTUP PAGE | A look at innovative organizations, concepts, products and people

The makers of sports app Subme are solving a universal problem for recreational sports leagues: drop outs and no-shows.

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Border Wall Raises Economic as Well as Political Questions

TRADE: Proposed Structure Could Tax Construction Workforce

The federal government by June will be narrowing down a large nationwide field of contractors looking to build President Trump’s proposed 2,000-mile wall along the U.S.-Mexico border. However, it remains unclear what the wall will cost, how and when it will get funded and built, and what will be the employment and other economic impacts in San Diego County.

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Local Biotech Co.’s Success Fuels Optimism in IPO Market

FINANCE: AnaptysBio Still Trading at Premium; Other Firms Lining Up

One initial public offering may not sound like much, but the January debut of San Diego biotech AnaptysBio Inc. on the stock market may be providing reassurance to others in the region considering an IPO this year.

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Co.’s Gray Water System Can Weather the Recent Storms

RESOURCE: Greyble Targets New Housing With Relatively Affordable Product

Chiara Dorigo looks to gray water as a promising way to irrigate landscapes in the increasingly parched Southwest. So promising, in fact, that she’s prepared to build a business around it.

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Distiller Sticks With a Craft Beer Game Plan

SPIRITS: Millennial Appeal, Quality and Local Fans Are Key

Just eight months after founder Jack White and other key executives departed San Diego’s Ballast Point Brewing & Spirits, their new venture, Cutwater Spirits, has already made its own mark in the burgeoning world of distilled craft alcoholic drinks.

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Execs Given the ‘Keys’ And Cash for Biotech

BIOTECH: Laguna Team Is Tapped to Run Michigan Co.

Investors have handed the reins of an out-of-state biotech company — along with $40 million in fresh capital — to the former C-suite of San Diego’s short-lived Laguna Pharmaceuticals.

Persistence Finally Pays Off at Neurocrine Biosciences

PHARMA: FDA OK Is Sweet After Near-Death Experience

The weekend of April 7 was a tense one at the headquarters of Neurocrine Biosciences Inc., where over 300 employees collectively held their breath awaiting word from regulators. A decade-long project was about to make or break the company.

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New Hospital to Meet Challenges, Change

Facility Is Boost to Kaiser’s Standing, Came In Under Budget

Kaiser Permanente has christened its first new hospital in the San Diego area since 1975, an $850 million facility in Kearny Mesa it says will better integrate care for its 610,000 local members.

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Carol DiRaimo Promoted at Jack in the Box

San Diego-based fast-food chain Jack in the Box Inc. (NASDAQ: JACK) has promoted Carol DiRaimo to chief investor relations and corporate communications officer, the company announced Thursday.

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Chula Vista Approves Ownership Change for Seven Mile Casino

The Chula Vista City Council has approved the transfer of ownership of the Seven Mile Casino card room to La Jolla-based Stones South Bay Corp. The venue, formerly known as Village Club Card Room at 285 Bay Blvd., was previously owned by locally based VC Cardroom Inc.

San Diego Trust Acquires Texas Restaurant Building for $2.42 Million

Daniel R. Bond Separate Property Trust of San Diego has purchased a Fort Worth, Texas building housing Chili’s Grill & Bar for approximately $2.42 million, according to brokerage firm The Heritage Group.

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Arbitrator Rules Qualcomm Owes BlackBerry $814.9 Million Refund

An arbitrator ordered Qualcomm Inc. to pay BlackBerry Inc. $814.9 million, plus interest and attorney’s fees, the two companies announced on April 12.

Wednesday, April 12

Graphic: Flight Club: GA-ASI Shoots for New Predator Customers

General Atomics Aeronautical Systems Inc. is working to widen its customer base for its Predator family of unmanned aircraft.

Neurocrine's Stock Soars Following FDA Approval of Its Drug Ingrezza

Stock is soaring for San Diego drugmaker Neurocrine Biosciences, which just received a stamp of approval from the U.S. Food and Drug Administration for its lead drug Ingrezza.

San Diego Behavioral Health Facility Among 6 Being Acquired in $400M Deal

Aurora Behaviorial Health Care San Diego is among six psychiatric hospitals being acquired by Care Capital Properties Inc. in a $400 million deal, the Chicago-based investment company announced.

BAE Systems Awarded Air Force Contract Potentially Worth $42.9M

The U.S. Air Force awarded BAE Systems in San Diego a contract that could be worth as much as $42.9 million.

Work Begins on Condominium Development in Otay Mesa

San Diego’s Cornerstone Communities and Presidio Residential Capital have begun construction on the $45 million first phase of Tesoro at Vista Del Sur, with 134 upscale condominiums in Otay Mesa.

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Colepepper Services Moves to Larger Kearny Mesa Location

San Diego-based plumbing, heating and cooling company Colepepper Services recently moved into a new 1,800-square-foot office to accommodate growth, the company announced this week.

Mortgage Lender Attorneys Funding Group Inc. Opens First Local Office, in Poway

Roseville-based mortgage lender Attorneys Funding Group Inc. has opened a branch in Poway, its first in San Diego.

Imperial Beach Retail Center Sold for $10.5 Million

Highpoint Capital Group of Tarzana has purchased an Imperial Beach retail center for approximately $10.5 million, according to brokerage firm NAI Capital’s Investment Services Group.

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Tuesday, April 11

Qualcomm Counterpunches in Court Fight With Apple

Qualcomm Inc. is seeking unspecified damages against Apple Inc. in U.S. District Court. The move comes in the wake of Apple (Nasdaq: AAPL) filing multiple lawsuits against Qualcomm (Nasdaq: QCOM) earlier this year, saying Apple is owed $1 billion.

Murphy Stepping Down as Organovo CEO; Co. Names Replacement

Keith Murphy, the CEO of San Diego’s 3-D bioprinting company Organovo, is stepping down from his position to “pursue entrepreneurial opportunities,” according to a company statement.

For Laguna Execs, Failing Fast Led to New $40M Biotech Opportunity

Investors have handed the reins of an out-of-state biotech company — along with $40 million in fresh capital — to the former C-suite of San Diego’s short-lived Laguna Pharmaceuticals.

PICO Holdings Agrees to Sell Developer UCP Inc.

After more than a year of prodding by disgruntled investors, La Jolla-based PICO Holdings Inc. (Nasdaq: PICO) announced it will sell land developer and homebuilder UCP Inc., of which it is majority owner, to Colorado-based homebuilder Century Communities Inc.

Encinitas Firm Buys Two Commercial Properties for $7 Million

Stos Partners of Encinitas has acquired two commercial properties, located in San Dimas and Encinitas, for a total of $7 million, the company announced.

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Shea Homes Buys Vacant Land in Carlsbad for $4 Million

The San Diego office of Shea Homes has purchased 3.13 acres of vacant land in Carlsbad for $4 million, with plans to build 10 single-family houses, according to brokerage firm Lee & Associates.

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La Mesa Apartment Property Sells for $3.85 Million

Investor Mark Gosselin of San Diego has acquired a 26-unit apartment property in La Mesa for $3.85 million, according to brokerage firm ACRE Investment Real Estate Services.

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WD-40 Co. Reports Q2 Net Income of $12.4M

Chemical maker WD-40 Co. reported second quarter net income of $12.4 million on net sales of $96.5 million. Its second quarter ended on Feb. 28 and the business reported financial results on April 6.

ATyr Pharma Adds Tim Coughlin to Its Board of Directors

San Diego drugmaker aTyr Pharma has added Tim Coughlin, a highly-esteemed former biotech executive, to its board of directors.

Monday, April 10

AnaptysBio's IPO Success Raises Question: Who Is Next?

One initial public offering may not sound like much, but the January debut of San Diego biotech AnaptysBio Inc. on the stock market may be providing reassurance to others in the region considering an IPO this year.

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Richman Group Begins Work on $100M Downtown Mixed-use Development

Developer The Richman Group of California LLC has begun construction on K1, a new mixed-use apartment tower in downtown San Diego with an estimated development cost of more than $100 million.

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Italian Furniture Maker Natuzzi Expanding into San Diego

Italian furniture maker Natuzzi Italia, known officially as Natuzzi S.p.A.., plans to make its San Diego retail debut in late April or early May, with a 1,500-square-foot gallery set to open at the existing Hold It Contemporary Home in Mission Valley.

Following Merger of Mast Therapeutics And Savara, Stock Will Trade on Nasdaq Capital Market

Mast Therapeutics Inc., a local public biotech that was recently acquired by Austin-based Savara Inc., will be moving its stock from the New York Stock Exchange to Nasdaq as part of the merger.

Jack in the Box CFO to Retire

San Diego-based fast food chain Jack in the Box Inc. has begun searching for a successor to chief financial officer, Jerry Rebel, who plans to retire from the role in 2018, the company announced.

National University Names Ntoko Dean of the School of Business and Management

National University announced the appointment of Alfred Ntoko as dean of the School of Business and Management.

Feeding San Diego Names Vince Hall Its New CEO

Feeding San Diego announced April 7 that it has named Vince Hall as its CEO.

Sunday, April 9

Manchester Grand Hyatt Ranked Among Nation’s Most-Booked Meeting Hotels

Manchester Grand Hyatt San Diego recently placed at No. 8 among the nation’s Top 10 meeting hotels based on booking activity, in an annual list published by event management technology provider Cvent Inc.

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San Diego-based FlyDive Continues Its Buying Spree

San Diego-based FlyDive Inc. has completed its third acquisition in three months, taking on rental operators SoCal Hydrosports and AquaFlyboarding in March.

UC San Diego Research Complex to Use Industry Partnerships as Catalyst for Cures

The University of California, San Diego is bringing the pharmaceutical industry onto its campus, giving entrepreneurs and corporations more access to the university’s market-worthy research and advancing public-private collaboration.

Bemer USA Buys Carlsbad Property for New Headquarters

Bemer USA, which makes medical devices geared to vascular physical therapy, has purchased a Carlsbad industrial and office building for approximately $2.58 million.

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TakeLessons Acquires a Music App Company Chromatik

San Diego tech company TakeLessons, an online marketplace that connects students with tutors, has acquired like-minded music app company Chromatik.

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The Business Calendar for the Week of April 10, 2017

Some of the business events scheduled in the county for the week of April 10, 2017, and beyond.

Chula Vista Apartment Property Sells for $4.32M

Mar City IV LLC of Del Mar has acquired a 30-unit apartment property in Chula Vista for approximately $4.32 million, according to brokerage firm South Coast Commercial Inc.

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San Diego County's March Median Home Price Hits $575,030

San Diego County homes sales rebounded in March, in line with seasonal patterns, as median closing prices for existing, single-family houses rose 2 percent month over month — or 5 percent from a year earlier — to $575,030.

Security On-Demand Names Lyman CFO

Security On-Demand Inc., a San Diego-based managed security services provider, has hired William Lyman as chief financial officer.

Friday, April 7

Business Calendar for Week of April 10, 2017

Some of the business events planned in the county for the week of April 10, 2017, and beyond.

The Manchester Grand Hyatt Ranked Among Nation’s Most-Booked Meeting Hotels

Manchester Grand Hyatt San Diego recently placed at No. 8 among the nation’s Top 10 meeting hotels based on booking activity, in an annual list published by event management technology provider Cvent Inc.

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Chula Vista Apartment Property Sells for $4.32 Million

Mar City IV LLC of Del Mar has acquired a 30-unit apartment property in Chula Vista for approximately $4.32 million, according to brokerage firm South Coast Commercial Inc.

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Bemer USA Purchases Carlsbad Property for New Headquarters

Bemer USA, which makes medical devices geared to vascular physical therapy, has purchased a Carlsbad industrial and office building for approximately $2.58 million.

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TakeLessons Acquires a Music App Company

San Diego tech company TakeLessons, an online marketplace that connects students with tutors, has acquired like-minded music app company Chromatik.

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Security On-Demand Inc. Names Lyman CFO

Security On-Demand Inc., a San Diego-based managed security services provider, has hired William Lyman as chief financial officer.

County's March Median Home Price Hits $575,030

San Diego County homes sales rebounded in March, in line with seasonal patterns, as median closing prices for existing, single-family houses rose 2 percent month over month – or 5 percent from a year earlier – to $575,030.

UCSD Research Complex to Use Industry Partnerships as Catalyst for Cures

The University of California, San Diego is bringing the pharmaceutical industry onto its campus, giving entrepreneurs and corporations more access to the university’s market-worthy research and advancing public-private collaboration.

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Thursday, April 6

Three Trends Driving Growth in Craft Spirits

San Diego’s Cutwater Spirits and You & Yours Distilling Co. are just the latest among a wave of craft distillers now offering their own take on gins, vodkas, rums and other alcoholic spirits — a roster now numbering more than a dozen in San Diego County alone.

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Little Italy Office Tower Owner Obtains $33 Million in Refinancing

Property owner Gemini Rosemont LLC has obtained $33 million in refinancing for a downtown San Diego office tower that it purchased last year, according to A10 Capital, which financed the loan.

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Sommetrics Completes $12.3M Series B-1 Financing Round

Sommetrics, a medical product company in San Diego, has closed a $12.3 million stock financing round to help bring the company’s products to market.

Ligand Enters New License and Supply Agreement With Connecticut-Based Co.

Ligand Pharmaceuticals Inc. has agreed to license one of its patented products for use in a Connecticut-based drugmaker’s intravenous medicine believed to helpful in controlling seizures and anxiety.

Three Local Stores on Payless ShoeSource Closure List

Three San Diego County stores are among 378 nationwide that are being closed immediately by discount retailer Payless ShoeSource, as part of a Chapter 11 bankruptcy filing.

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SOCi Inc. Closes $8.5M Series A Round

SOCi Inc., a local social media content marketing company, announced it had closed an $8.5 million Series A financing.

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DEI Holdings Names Harper to CFO Post

DEI Holdings Inc. and Sound United announced April 6 that they have named Pete Harper as chief financial officer.

PriceSmart Reports 2% Revenue Increase for Q2

San Diego-based PriceSmart Inc., which operates a chain of discount warehouse club stores in Latin America and the Caribbean, said revenues rose about 2 percent from $793.3 million in the second quarter of its fiscal year 2017, which ended Feb. 28, compared with $777.9 million in the second quarter of the previous fiscal year.

Credit Union Membership Passes 1 Million Mark

FINANCE: Local Loans Increased 14 Percent in Q4

Growth in credit union membership continues to break records in San Diego County, according to the latest snapshot from the California Credit Union League, an advocacy group.

Reforms Still Needed to Curtail MWD Spending

Treated water rates set by the Metropolitan Water District of Southern California have doubled over the past decade, due in part to unrestrained fiscal practices at the agency. Ratepayers are about to be on the hook for a lot more unless MWD’s out-of-control spending can be stopped.

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Moonlight’s Supporters Show Their Appreciation for the Arts

The Moonlight Angels Auxiliary presented a check to the Moonlight Cultural Foundation for $41,597.42 as a result of the auxiliary’s fundraising efforts in 2016. The Moonlight Angels 2016 co-presidents, Barbara Meech and Becky Kwock, presented the check to Moonlight Cultural Foundation CEO Toria Watson, and 2017 Co-President Jeff Pashby, who is managing shareholder at The Lund Team Inc. The funds directly benefit Moonlight Cultural Foundation’s arts programs, including the City of Vista’s award-winning Moonlight Stage Productions and Moonlight Youth Theatre with the mission to keep theater arts thriving in Southern California.

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You Have to See the Views This House Has to Believe Them

There are only a few spots in San Diego County where there are unobstructed views of the southern coastline, downtown San Diego, Mission Bay and beyond. On the southernmost edge of La Jolla, sandwiched between La Jolla Alta to the east and Muirlands to the west, is La Jolla Mesa, where many of the homes have heart-stopping views. The winding, steep drive up La Jolla Mesa Boulevard showcases some of La Jolla’s most distinctive properties.

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Initiative Would Give Nonprofit Role in Pursuing Productions

FILM: It Would Include Help in Production And Distribution

San Diego doesn’t easily double for other cities, but in the new Netflix series “Ingobernable,” Balboa Park’s Spanish Colonial Revival architecture and the tall shadows of downtown at night make for a convincing Mexico City.

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No Days Off for Tourism

Drawing New Visitors, Building New Properties and Attractions Are Part of Keeping, Expanding Market

Things were already going well at the USS Midway Museum — yet another year of record attendance — when someone there noticed a detail that may point the way to future growth.

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Heavyweight Bout of Big Issues

COMMERCIAL REAL ESTATE | The latest in real estate and development news |

In San Diego this fall, it likely won’t be raining ballot issues and candidates when city voters head to the polls for an expected November special election. Unlike November 2016, there probably will not be 12 city ballot measures (among 35 countywide), along with 17 state propositions and the multiple government and school elections that come with a presidential election year.

First Quarter Is A Good One For Many Life Science Cos.

BIOTECH: DexCom Got Welcome News, While TrovaGene Floundered

Diego had a solid start to the year, with first-quarter stock prices showing significant growth.

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Social Unrest Has ViaSat’s Satellite Launch on Hold

TECHNOLOGY | The latest in technology and development news

The ViaSat-2 satellite will not go into space on its previously announced launch date, April 25, because of civic unrest near the launch site in French Guiana.

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Conectric Raises $716K in Seed Capital

THE STARTUP PAGE | A look at innovative organizations, concepts, products and people

Local cleantech startup Conectric Networks has scored $716,000 in seed funding to further develop its energy-saving software for hotels.

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Licensing Puts Viracta in Good Position

BIOTECHNOLOGY | A look at innovative organizations, concepts, products and people

Local biotech Viracta Therapeutics has closed an $18.4 million round of financing and inked a licensing deal with the round’s lead investor, Na|ntKwest.

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Callaway Golf Creates a Force to Be Reckoned With in New Driver

SPORT: Co.’s Product Development Commitment Pays Off in Sales

Why didn’t I think of that? Some innovations seem so simple that a person might say that to himself. Callaway Golf Co.’s new top-of-the-line driver, dubbed Great Big Bertha Epic, comes with a novel set of reinforcing bars that prevent the golf club from deforming as it makes contact with the ball. The Carlsbad-based company says the reinforced face increases ball speed and distance.

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Credit Unions Aim to Capture Local Clout

BANKING: Lenders Seek Influence in Sacramento

California Coast Credit Union CEO Todd Lane knows two significant selling points for many credit unions are their small-town feel and personable approach to banking.

LoanHero Adds Talent At Executive Level

FINTECH: New CEO, CFO Recruited to Scale Business

Derek Barclay wants to build San Diego’s first billion-dollar startup.

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Sign Co.’s Vision Is to Make Others Look Good

It Capitalizes on an Experienced Workforce, Lean, U.S. Manufacturing

There is an “Alice in Wonderland” quality to the Federal Heath Visual Communications factory on North Avenue in Oceanside. In this cavernous room, things are out of scale. Giant C shapes bent like macaroni pasta sit nearby; they will soon go together to form a complete circle emblem outside a Target Corp. discount store somewhere.

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Wednesday, April 5

Demolition Work Begins on $1.3 Billion Navy Broadway Redevelopment

Demolition work has begun on Manchester Financial Group’s long-delayed, $1.3 billion redevelopment of the Navy Broadway Complex in downtown San Diego.

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Four Things Callaway Golf Co. Looks for in a New Product

There are four important questions company officials ask when considering a new product or product feature...

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CONNECT Offering Coworking Space in UTC

CONNECT, a local nonprofit focused on growing startups, is entering the coworking world with new shared workspace in San Diego.

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Renovate America Names Paige Wisdom New CFO

San Diego-based Renovate America, which provides financing for energy-saving home improvements, said it had selected a former Freddie Mac executive, Paige Wisdom, as its new chief financial officer.

Two Local Restaurants Make Magazine’s Most-Promising List

San Diego’s Luna Grill and Urban Plates were among 40 U.S. restaurant companies that made industry news magazine QSR’s recently published list of the most promising fast-casual dining concepts.

East County Apartments Change Hands in $4.3 Million Deal

A buyer recorded as Villa Mollison LLC has acquired a 35-unit apartment property in El Cajon for approximately $4.3 million, according to CoStar Group and public data.

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Furnishings Retailer West Elm Opening New Store in Solana Beach

Upscale home furnishings and design retailer West Elm plans a fall 2017 opening for a new store in Solana Beach’s Cedros Design District, according to brokerage firm CBRE Group Inc.

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Union Bank Promotes Sanfilippo to Regional Manager

Union Bank has promoted Peter Sanfilippo to oversee 13 branches in North County, the bank announced.

Sempra Updates Financial Outlook

Sempra Energy reaffirmed its 2017 guidance on earnings per share, while also projecting growth of 10 percent to 11 percent, on a compound annual basis, through 2021.

Tuesday, April 4

Social Unrest in French Guiana Delays ViaSat Launch

The ViaSat-2 satellite will not go into space on its previously announced April 25 launch date because of civic unrest near the launch site in French Guiana, ViaSat Inc. confirmed April 4.

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Shield AI Raises $10.5 Million in Series A Round

San Diego startup Shield AI, which makes a drone that uses artificial intelligence, has raised $10.5 million in a Series A round led by Silicon Valley venture firm Andreesen Horowitz.

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SoccerCity Developers Now Aiming for November Ballot

The development group proposing a soccer-centric mixed-use project at the Mission Valley site of Qualcomm Stadium will ask the San Diego City Council to place its plan on the November ballot, as part of a special election.

Seacoast Commerce Bank Opens Third Production Office in Texas

San Diego-based Seacoast Commerce Bank, a subsidiary of Seacoast Commerce Banc Holdings, opened a new loan production office March 27 in Austin, its third production office in Texas.

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San Diego Office Building Sells for $17 Million

A San Diego buyer recorded as CVOP Associates LLC has acquired a Carmel Mountain Ranch office building for $17 million, according to CoStar Group and public data.

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Brian Drazba Appointed CFO at MEI Pharma

Anti-cancer drugmaker MEI Pharma Inc. has recruited Brian Drazba to serve as the company’s new chief financial officer.

Three Questions Facing Hotel Tax Hike Supporters (and Voters)

Based on recent San Diego electoral history, Mayor Kevin Faulconer and other backers of a potential 1 percent to 3 percent hike in local hotel taxes – to pay for a long-sought expansion of the convention center – know that they face major challenges in getting voters to pass tax hikes of any kind.

Petco Acquires Startup PetCoach

Petco has purchased Philadelphia-based startup PetCoach, a digital services company connecting pet owners with veterinary professionals, and hired its co-founder and CEO to be a senior executive at the San Diego-based specialty retailer.

Bonita Office Property Sold for $3.67 Million

Jost LLC of San Diego has acquired a Bonita office property for approximately $3.67 million, according to brokerage firm Marcus & Millichap.

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American Assets Trust Set to Buy Local Apartments for $232 Million

Locally headquartered American Assets Trust Inc. has entered into an agreement to purchase the 533-unit Pacific Ridge Apartments in San Diego for approximately $232 million, the company announced.

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Developer Obtains $2.94M in Refinancing for East Village Apartments

San Diego developer Nakhshab Development & Design Inc. has obtained $2.94 million in refinancing for a newly built apartment property in East Village, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

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Monday, April 3

BofI Stock Dips After Tabloid Asserts Federal Probe

San Diego-based BofI Holding Inc.’s stock is down nearly 9 percent over two days of trading since a New York-based tabloid published a story Friday alleging a federal money laundering probe into the company’s main subsidiary, BofI Federal Bank.

What’s Behind Company’s $1.3M Hunt for Waste and Inefficiency

Cut waste. That’s the mantra of lean manufacturing.

Backers Target Hotel Tax Hike for Convention Center Expansion, Civic Needs

San Diego Mayor Kevin Faulconer and other business leaders have officially launched a drive aimed at raising the city’s hotel tax, formally known as the transient occupancy tax, by up to 3 percent.

WebMD Executive Named Chief Business Officer at Independa Inc.

Locally based remote engagement company Independa Inc. has hired a WebMD Health Corp. executive to serve as chief business officer.

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El Cajon Industrial Property Sold for $5 Million

Ynez Two LLC of El Cajon has purchased an industrial warehouse building in that city for $5 million, according to CoStar Group and public data.

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Coca-Cola Cutting 102 Jobs as Part of Consolidation

Beverage giant Coca-Cola is cutting 102 jobs in San Diego.

Design Firm Gensler Moving into NBC’s Former Downtown Space

Architecture and design firm Gensler is moving into the downtown San Diego space vacated last year by TV station NBC 7 (KNSD), which moved to Kearny Mesa.

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Clarity in Port Planning Will Codify Vision

I am often asked about the Port of San Diego’s Integrated Planning initiative and what it means for the San Diego region. Simply put, this is a long-range planning process that will codify a “big picture” vision for the future of 6,000 acres of land and water around San Diego Bay. It’s about whether we want to continue business as usual or whether we want to be the best port that we can be.

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‘Screens, Genes & the Choices We Make’ Raises Funds for Komen

Susan G. Komen San Diego announced that its “Screens, Genes & the Choices We Make” symposium held recently at the San Diego Marriott Del Mar hotel raised $210,000.

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Riding High

Private gates open to a sweeping, split driveway that curves around a riding arena to reveal an elegant equestrian estate overlooking the San Dieguito Reservoir. Set on 4.5 level acres, the Weir Bros. custom home is the model of the finest in European elegance paired with the casual sophistication of Southern California living. A lush outdoor oasis merges the luxury of land with peaceful privacy. A well-appointed, five-stall horse barn and a car enthusiast’s nine-car dream garage complete the ultimate portrait of Rancho Santa Fe living.

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Biocept Inc. and Oregon University to Collaborate

San Diego’s Biocept Inc. has partnered with a university in Oregon. The arrangement will allow the school’s cancer center to offer Biocept’s testing services exclusively throughout the state of Oregon.

3 Reasons Millennials Choose Coworking

OFFICE: Workers Find Affordability, Flexibility While Avoiding Isolation

San Diego’s coworking community continues to flourish, responding to demands from entrepreneurs for more flexible workspaces.

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Millennials Are Recasting San Diego’s Startup Scene

LEADERSHIP: Some See Need for Greater Diversity of Mentors

A group of millennials is edging its way into the startup community’s leadership, reshaping San Diego’s startup culture and filling a void in the region’s business community.

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The New Entrepreneur

It Was Natural and in Some Cases a Necessity For Millennials to Turn to Entrepreneurship at an Early Age

Picture this: you’re graduating college in the spring of 2008. You have no job, no prospects, and looming student loan payments that will drain your bank account in a matter of months.

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Wilson And D’Angelo Named Shareholders at Pettit Kohn

Bron E. D’Angelo and Derek J. Wilson have been made shareholders at Pettit Kohn Ingrassia & Lutz PC. D’Angelo is a shareholder in the firm’s Los Angeles office. D’Angelo joined Pettit Kohn in 2012. His practice focuses primarily in the area of civil litigation with a particular emphasis in the areas of product liability, business litigation, retail and personal injury. He earned his Juris Doctorate from the University of San Diego School of Law.

READY OR NOT, HERE THEY COME: Cyber Threats

Experts Evaluate Responses To the Ever-Growing Cyber Crime Threat

Hacks, breaches, viruses, dark web, data theft, malicious software: It seems the concept of cybersecurity has now entered the mainstream and the vocabulary alone could send any reasonably stable person down a dark hole to hide. But our region has a growing number of cyber warriors who are mounting new protocols and creating new systems to protect us at our most vulnerable levels.

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Creating Critical Connections For First Responders in the Field

THE STARTUP PAGE | A look at innovative organizations, concepts, products and people

The classic, World War II walkie-talkie is the firefighter’s best friend, even today. With its flexible antenna and its simple, push-to-talk operation, the “handy talkie” is a more rugged communication device than a smartphone. In fact, if the need arises, you can use it to smash things.

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Makers Quarter’s First Brewer Won’t Be Local

COMMERCIAL REAL ESTATE | The latest in real estate and development news

Oregon’s 10 Barrel Brewing Co. will stake its claim as the first beer maker to open in East Village’s budding Makers Quarter development, with a two-story brewpub and production facility set to open during the week of April 3 at 1501 E St.

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UCSD Develops ‘Glove Test’ That Detects Deadly Agents

DEFENSE | The latest in defense industry news

The University of California, San Diego says it has developed a “lab on a glove” to detect sarin, VX and other deadly nerve agents. In addition to defense uses, the invention could be used in agriculture to detect a related family of organophosphate pesticides, according to the American Chemical Society. Joseph Wang, a professor of nanoengineering at UC San Diego’s Jacobs School of Engineering, led a research group that published its findings recently in the journal ACS Sensors.

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Insole Maker Took Inspiration and Put It on a Solid Footing

RETAIL: Entrepreneur Studied Biomechanics, Found Right Manufacturer

The orthotics business isn’t one that typically inspires the dreams and aspirations of children. Laina Gossman was no exception.

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Does Proposed Bank Have What It Takes?

BANK: De Novo Application Scrutinized on Several Levels

New banks, like startups, are risky endeavors. But unlike startups, which try to disrupt traditional business models, banking is a well-established enterprise.

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Venture Studio Model Leaves Startups Cold

FINANCE: Analytics’ Entry Fizzles for Cash-Hungry Cos.

There are very few venture capitalists investing in local tech startups, so when a new fund — Analytics Ventures — opened up shop in downtown San Diego, hopes were high.

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Tealium Hopes to Be It in Tag Management

TECH: Co.’s Data Dexterity Makes Real Time Connections

Tealium isn’t its own verb quite yet, but in an age when basic internet functions can eventually take on the name of their dominant service provider, the San Diego-based customer data platform company may have as good a shot as any of its competitors.

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Profits Expected at Tail End of App

TECH: Co.’s Goal Is to Create Pet Hub And Monetize Traffic

At 1½ years old, Nessie the black Lab is a 60-pound bundle of energy. Her attention wanders in what seems to be a world of wonderful smells and unfamiliar people, but she comes when called by owner D.J. Todd and follows his commands — mostly.

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LeanIn.Org Report Finds Women Paid 14% Less Than Men in San Diego

San Diego doesn’t have as far to go as the rest of the country to close the gender pay gap, according to organizers of a campaign aimed at bringing attention to pay disparities between men and women.

Sunday, April 2

Venture Studio Model Leaves Cash-Hungry Companies Cold

There are very few venture capitalists investing in local tech startups, so when a new fund — Analytics Ventures — opened up shop in downtown San Diego, hopes were high.

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It's Game Over for Mad Catz Interactive

San Diego videogame peripheral maker Mad Catz Interactive Inc. has closed its doors.

LPL Moving Some Local Jobs to South Carolina By Year's End

By year’s end, 133 jobs at the San Diego office of independent broker dealer LPL Financial LLC will have been moved to the company’s new South Carolina campus.

Burwood Group Is Opening Operations Center in Scripps Ranch

Burwood Group, a consulting firm that bridges business strategy and information technology solutions, is opening a new operations center in Scripps Ranch that will employ 22 people.

The Business Calendar for the Week of April 3, 2017

Some of the business events planned in the county for the week of April, 3, 2017.

RQ-DPR Joint Venture Gets $48.1M Navy Contract

The U.S. Navy awarded the RQ-DPR Joint Venture a $48.1 million contract to build underground infrastructure to serve its Silver Strand Training Complex South at Naval Base Coronado.

Promise Hospital of San Diego Is Closing; Mental Health Facility Planned for Location

Promise Hospital of San Diego, a long-term acute care facility that houses dozens and employs more than 250 people at 5550 University Ave., will soon close to make way for a mental health rehabilitation center.