Stories for February 2018

Wednesday, February 28

Comic Book Stores Must Profit or Perish

RETAIL: Business Realities Loom Large at Hobby-Oriented Shops

Entrepreneurs who open comic book stores because of their love of comics quickly learn that they can’t succeed if they treat their business like a hobby.

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SeaWorld CEO Resigns; Former SD Park President Tapped as Interim

John T. Reilly, chief parks operations officer, is serving as interim CEO. Reilly served as park president of SeaWorld San Diego from 2010 through April 2016.

SD 500 Update: Real Estate Firms Play Leading Role In These Big Deals

Items of interest about people in The San Diego 500, The Book of Influential Business Leaders:

Two Inventors Are Helping Those With Desk Jobs to Rise Up

RETAIL: Standing Desk Aims to Be Well Designed Functional and Affordable

Standing desk setups are often associated with people in technology, but Readydesk’s conversion unit is nearly as low-tech as they come.

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Seeing Industrial In A New Light

Sweeping views of the Pacific Ocean are not normally associated with industrial projects, but that’s what comes with a three-building complex Ryan Cos. U.S. Inc. is building in Carlsbad.

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Compass Kicks Off San Diego Office With Acquisition of P.S. Platinum

A New York-based real estate company with offices throughout the United States is boldly moving into San Diego County — acquiring a La Jolla-based firm and recruiting agents.

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Kratos to Sell Division, Reports $752M in Annual Revenue

Kratos Defense & Security Solutions Inc. announced a plan to sell its Public Safety & Security Division to Securitas Electronic Security Inc.

Mollenkopf to Leave GE Board

Qualcomm Inc. CEO is among eight board members who will not stand for reelection at GE’s annual meeting in April.

Tuesday, February 27

Sempra Reports 2017 Results

San Diego-based Sempra Energy reported 2017 adjusted earnings of $1.37 billion, up from $1.27 billion the prior year.

Oceanside Medical Building Sold

Medical group will remain as tenants.

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Congressman: Broadcom-Qualcomm Might Have National Security Implications

Members of Congress have called for a federal review of Broadcom Ltd.’s proposed acquisition of Qualcomm Inc. and Reuters reports that such a review has already begun.

Oceanside Buildings Sold for $14.9M

Pacific Gateway Towers have been renovated.

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2 LA-Area Banks With SD Branches to Merge

The merger, pending regulatory approval, will boost First Choice assets to $1.5 billion.

City Heights Apartments Sold For $2.9M

Complex has 12 apartments.

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Monday, February 26

Samsung Puts Qualcomm's Snapdragon 845 to Work

Samsung’s newly unveiled smartphone, the Galaxy S9, contains Qualcomm Inc.’s newest premium processor, the Snapdragon 845 mobile platform, in select regions.

San Diego Firm Completes Inland Empire Project

Corona development was a joint venture with Watermarke Properties.

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Bankruptcy Court Approves Sempra Buying Oncor Holding Company

San Diego-based Sempra Energy has cleared the second to last hurdle in its $9.45 billion acquisition bid for Oncor Electric Delivery, the largest utility in Texas.

Silvergate Bank Raises $114M in Private Placement

About 10 percent of the capital raised will be used for a share repurchase.

Qualcomm Seeks Third Meeting as Broadcom Questions Sincerity

Representatives of Qualcomm Inc. and Broadcom Ltd. met for a second time on Feb. 23 to discuss Broadcom's bid for the San Diego company. The landscape has changed now that Qualcomm is offering more to buy NXP Semiconductors.

Wilson Avenue Apartments Sold For $2.5M

Sale shows strong demand in Adams Avenue corridor.

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NuVasive Reports Q4 Results

Spine surgery and medical device maker NuVasive reported revenue of $271.1 million in the fourth quarter for flat year-over-year growth.

Mobike Launches its Dockless Bikes in S.D.

The company's signature orange and silver dockless bikes are now available throughout select locations in San Diego.

Gaslamp Quarter Building Sold For $19.9M

Building is home to Ghiradelli Cafe and Urban Outfitters

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CBX Lands More Flights, More Passengers

The Cross Border Xpress terminal, the world’s first cross-border airline passenger terminal, has been a great success story, with about 1.9 million passengers in 2017, up from 600,000 in its first full year.

Sunday, February 25

Business Calendar for Week of February 26, 2018

Business events planned in the county for the week of February 26, 2018, and beyond.

Cubic Acquires Image Processing Software Company

San Diego-based Cubic Corp. announced the acquisition of MotionDSP.

Oceanside Apartment Complex Sold For $15.8M

Waring Road apartments bought by private investor.

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Silvergate Bank Reports Record 2017 Net Income

Deposits at Silvergate Bank totaled $1.8 billion at the end of 2017, more than double a year prior, when deposits totaled $769.9 million.

As Refinance Rates Fall, Guild Mortgage Reports Flat Year-Over-Year Loan Volume

Guild Mortgage's average loan size in 2017 was $232,552.

Pirch Puts Efforts in Its Comfort Zone

RETAIL: Co. Misread Market; New Focus to Be Brands, Customers

An overly ambitious rush to expand, confusion over its brand, and costly real estate deals were what caused Pirch — the high-end household furnishings and fixtures company — to close all but its four California showrooms.

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Neuroscience May Belong to the Nimble

MEDICINE: Big Players Bail, But Midsize Cos. Aim for Next Big Thing

Amid big pharma’s waning commitment to neurological disorders like Alzheimer’s, San Diego startups and midstage biotechs see opportunity.

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Construction Tech Co. Building Out Business

About a year ago, the Carlsbad-based startup Raken raised $2 million in seed funding.

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Angels to Help Others Spread Their Wings

The San Diego chapter of Tech Coast Angels is hosting a workshop for local women investors and those interested in learning more about angel investing.

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Communal Coffee Looks to Be South Park Gathering Spot

Jen Byard has decided to do something different when she opens her second Communal Coffee location.

Biotech Cos. Put $1.4B Into Property Sales Market

If there ever was any doubt that biotech companies have been investing big time in San Diego, a report out this week by the commercial brokerage firm JLL erased it.

Luxury, Style and Location Define Top Real Estate Deals

San Diego County has an extraordinary mix of distinctive residential environments; the choices of how and where to live are diverse. Among the choices are beaches, mountains, valleys, farmland and desert communities.

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Solving STEM Diversity Starts With Kids

Liisa Bozinovic

Diversity continues to be a buzzword throughout the life science community, and deservedly so. It’s clear our industry is lacking in diversity, in terms of gender makeup, race and ethnicity—and it’s notably apparent at the executive and management levels.

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Name Emphasizes Bigger Scope of San Ysidro Health’s Mission

San Ysidro Health Center, a local nonprofit organization providing high quality, compassionate, accessible and affordable health care services for all, has announced a new name and brand identity and is now San Ysidro Health.

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Thursday, February 22

Retail Finds Right Mix; Millennials Find Retail

PROPERTY: Vacancy Rate Low; Investors Very Much Interested

Regency Centers owns 11 shopping centers in San Diego County and is so confident about future prospects that it’s looking for more.

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UC San Diego Health Selects Model, Launches Its ACO

MEDICINE: System Is Betting On Treatment Strategies Success

UC San Diego Health has launched a Medicare program that brings the potential for health system savings — that is, if it can meet care and cost requirements.

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Marketers Find Promise, Peril in Diversification

MARKETING: Challenge to Find Expertise, Preserve Co. Culture

If it succeeds, diversification could boost an already sharp trajectory at Wonderist.

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North County Health Services Appoints New President and CEO

Barbara S. Kennedy will succeed Irma Cota starting Feb. 26.

Kratos Receives $81M Drone Systems Contract

The work covered by this contract will be performed at secure Kratos facilities and at government locations.

John DeFord to Join NuVasive Board

With DeFord’s appointment, the board will have 10 directors, nine of whom are independent.

San Diego-based Firms Merge with Salas O’Brien

The combined company plans to develop its presence in higher education, hospitality, telecommunications and other areas.

Bank of Southern California to Acquire LA-Area Bank in $44M Deal

The acquisition would accelerate the San Diego bank's expansion in the Southern California region.

Wednesday, February 21

Bagging Rights

RETAIL: Carlsbad Co. Among Winners From Ban on Plastic Bags

Some reusable bag makers in California were pleased when voters affirmed the state’s single use plastic bags ban in November 2016, but hesitant to attribute their successes and steady revenue to the bill itself. However, Lotus Trolley Bag based in Carlsbad was inspired to start its business because of the law.

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Developer Gives Escondido Commercial Buildings a Second Act

PROPERTY: Redevelopment Preserves Classic Character, While Filling Market Need

Eerie was how Matt Belshin described the former bank building he bought three years ago along Escondido’s Grand Avenue.

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TransPower Looks to Rev Up Its Commercialization Efforts

ENERGY: Co. Aims to Double Revenue, Inks Big Funding Deal

Escondido-based TransPower, a maker of electric-drive systems for big-rig trucks and industrial-site tractors, is on a growth path.

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Tech Cos. Find Perfect Live-Work Balance

From Entrepreneurial Climate to Quality of Life, Carlsbad Checks All the Boxes for Business Location

Carlsbad is known as one of San Diego’s largest tech hubs, but that’s no longer simply because of its corporate successes, such as Viasat Inc.

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Bench Space Coworks Leases Torrey Pines Building

Company offers space for budding tech and biotech companies.

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Comhear's Crowdfunding Campaign for 3D Sound Bar Tops $1M

Comhear has said the technology is likely to be appealing to audiophiles, gamers, people with home theaters and users of virtual and augmented reality.

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Miramar Warehouse Sold

Building goes for $4.5 million

Warehouse is sold for $4.5 million

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Tuesday, February 20

Brookfield Residential Buys the Expertise of OliverMcMillan

DEAL: Local Firm’s Experience in High-Rise, Mixed-Use Spurred Move

San Diego-based developer OliverMcMillan has been acquired by Brookfield Residential Properties Inc. of Canada for an undisclosed amount of money.

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Students Look for Career-Changing Skills at Coding Boot Camps

School can be stressful. For professionals looking to switch careers in a matter of months to a new job requiring new technical skill, it can be overwhelming.

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Commentary: How to Build Momentum on Housing Policies

Housing First is known as a homelessness strategy where permanent, affordable housing is built as quickly as possible to stabilize the situation. We need to expand this strategy beyond the homeless community as the housing affordability situation is also at crisis proportions.

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Sempra, Oncor Deal Reportedly Poised to Receive Approval

San Diego-based Sempra Energy’s $9.45 billion acquisition of Texas energy giant Oncor appears headed for approval.

Business Calendar for Week of February 19, 2018

Business events scheduled in the county for the week of February 19, 2018, and beyond.

Aira Offers 'Eyes on Demand' Service to Blind Job Seekers for Free

The company uses glasses equipped with a camera to feed video to a trained agent, who guides the blind or visually impaired user through interactions with which they have requested assistance.

Ionis Licenses Kidney Drug in Deal Worth up to $330M

Carlsbad’s Ionis Pharmaceuticals has licensed a kidney drug to British giant AstraZeneca, earning $30 million upfront and the potential for $300 million in development and regulatory milestone payments.

Monday, February 19

SDBJ Insider: Marketer Drafts Brewers For Good Cause

How do you single-handedly organize a campaign to raise $100,000 for charity in San Diego? If you are Brandon Hernandez, you tap into your extensive network in the craft beer industry.

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Health-Tech Fundraising Focus of Upcoming SDVG Event

Life sciences entrepreneur Dena Marranuci, who leads corporate development and research and development at Truvian Sciences, will moderate a discussion about raising early-stage capital.

Sunday, February 18

USD Renames Institute After Irwin and Joan Jacobs

Since 2011, the Jacobs have contributed around $10 million to the Institute for Entrepreneurship in Education.

AMN Healthcare Reports Solid Growth

Medical staffing company AMN Healthcare reported 2017 fourth quarter revenue of $509 million, a 4 percent year-over-year increase.

CalPrivate Bank Taps Rick Sowers as President

Plaza Bank, where Sowers was formerly president, was acquired by Pacific Premier Bank in 2017.

Tortuga Gets to Scene of Cybercrimes Before Criminals Do

SOFTWARE: Finding Chip Flaws in Development Stages Can Be a Lifesaver for Cos.

A flawed microchip is a hacker’s best friend. Tortuga Logic aims to spot those flaws before they ever make it into a silicon chip.

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Pacific Sotheby’s International Acquires Hom Sotheby’s

La Jolla-based Pacific Sotheby’s International Realty has expanded its reach into Orange County and Coachella Valley by acquiring Hom Sotheby’s International Realty, headquartered in Newport Beach.

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Technology Is Key Part of Workflow for Irrigation Company

MANUFACTURING: Its Acquisitions Boost Core Biz, Help Cover New Ground

It’s not uncommon to see sprinklers over-irrigate, turning yards into swamps — or spraying water while it’s raining.

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Cooley Continues to Add Talent to Its Global Litigation Bench

William O’Connor has joined Cooley as a partner in the litigation department. O’Connor previously headed Morrison & Foerster’s San Diego litigation department and chaired the firm’s unmanned aircraft systems/drones group and airports and aviation practice. O’Connor’s broad experience includes commercial disputes, trials and arbitrations with a focus on product liability, aviation disputes, patent license agreements, supply contracts, partnerships, real estate and insurance coverage.

S.D. Workforce Partnership Earns Praise From Its Peers

The San Diego Workforce Partnership announced that it received the Workforce Innovation and Opportunity Act Trailblazer Award from the National Association of Workforce Boards, the membership organization and advocate for more than 550 workforce development boards nationwide and their network of American Job Centers.

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Puffer Malarkey to Have Presence at Pacific Gate

Pacific Gate — one of downtown San Diego’s priciest condominium towers — is adding Puffer Malarkey’s Animae restaurant on the ground floor of its 41-story project.

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Friday, February 16

Qualcomm Poses Objections, Invites Further Broadcom Talks

Two days after a face-to-face meeting with Broadcom Ltd., Qualcomm Inc.’s board laid out several problems with Broadcom’s proposal to buy Qualcomm, but said it was open to more talks.

Thursday, February 15

Tandem Diabetes Care Gains Distribution Outside U.S.

San Diego’s Tandem Diabetes Care inked a European distribution deal with Rubin Medical, meaning its insulin pumps will be sold outside the U.S. for the first time.

Small Business to Provide Post-Deployment Services to Marines

The U.S. Marine Corps awarded Tactical Edge Inc., a San Diego small business, a five-year contract that could be worth as much as $49 million.

SDSU Stadium Plan Headed For November Ballot

Voters will choose between two rival plans.

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GA-ASI Taps Boeing in Carrier Aircraft Bid

General Atomics Aeronautical Systems Inc. has enlisted a surprising partner in its bid to build an unmanned, carrier-based air refueling aircraft for the U.S. Navy

Dexcom Pilot Program Targets Type 2 Diabetes Population

DEVICES: Company Gains Advantage By Partnering With Insurer

Dexcom aspires to widen its reach beyond Type 1 diabetes. Recently, the San Diego company took a big step toward the goal.

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Millennials Get Amenities, Cos. Get Big Space at Ampersand

The Casey Brown Co., is transforming The San Diego Union-Tribune's former two-building campus into a top-of-the line office complex with amenities few other office buildings can match.

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Techstars Could Help Trust & Will Write Its Own Ticket

It’s a moment that San Diego entrepreneur Cody Barbo is unlikely to forget.

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St. Paul’s PACE to Open New Care Program in East County

The San Diego full-service retirement provider will host a grand opening celebration Feb. 23 from noon - 2 p.m. at 1306 Broadway in El Cajon.

PE Firm With SoCal Focus Raises $300M Fund

The firm has two San Diego companies in its eight-company portfolio.

Wednesday, February 14

Borrego Springs Provides Challenges to Designer

DEVELOPMENT: Desert, Dark Sky Status Result In Unique Library Project

Roesling Nakamura Terada (RNT) Architects, in partnership with BN Builders and Richard + Bauer Architecture, are nearing completion of a unique $11.5 million, 15,000 square-foot library that will rise above the desert floor in Borrego springs.

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Stone Brewing to MillerCoors on Rebrand: You're Not Worthy

The complaint, filed in U.S. District Court in San Diego, alleges MillerCoors of trademark infringement.

LEAD San Diego Names 6 Visionary Awards Honorees

The leaders will be honored June 14 at the Marriott Marquis San Diego Marina.

First Blood Test to Evaluate Concussions Receives Green Light

A first-ever test from San Diego’s Banyan Biomarkers to help doctors diagnose traumatic brain injuries has won Federal Drug Administration approval.

North Park Property Sells For $2.4M

Property will be redeveloped.

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Qualcomm Rolls Out Cyber Services, Chip With Slim Circuitry

Seeing a clear need for cybersecurity for a widening array of connected industrial equipment and other gadgets, Qualcomm Inc. said it plans to make a business out of cybersecurity for the Internet of Things.

Qualcomm Meets With Broadcom

Qualcomm Inc. said its top board members and executives met with Broadcom Ltd. representatives for two hours on Feb. 14, but said little else about the meeting.

Neurocrine Reports Big Gains

San Diego biotech Neurocrine reported a big increase in revenue following the launch of a nervous system drug in late spring, according to financial results released Feb. 13.

Tuesday, February 13

Hospital Deal to Fuel Downtown Escondido Construction Boom

An Encinitas developer has struck a deal to buy Palomar Health’s downtown Escondido hospital campus for $18 million, paving the way for a mixed-use project that’s poised to be the epicenter of a construction boom in the area.

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U.S. Bank Opens Ascent Office in La Jolla

The location is the sixth Ascent site since the office's 2011 launch.

InfoSonics Sets Date for Shareholders Vote on Proposed Merger

The meeting will be held March 7 at the offices of Perkins Coie LLP.

Broadcom to Nominate 6 Directors for Qualcomm Board; Meeting Set

Broadcom Ltd. shifted strategy in its proxy fight for Qualcomm Inc., saying it would ask Qualcomm shareholders to elect six, rather than 11, directors nominated by Broadcom.

Social Leverage Backs Effort To Make Dollars and Scents

Jason Pang, the serial entrepreneur behind the stock discovery app SparkFin, has resurfaced with a new startup in another industry: consumer packaged goods.

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SDBJ Insider: Standing Pat On Convention Space Is Losing Ground

Thoughts following a recent panel discussion on the impact of the convention center in the Distinguished Speaker Series at The University Club Atop Symphony Towers.

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Sunroad Pitches Housing Amid Otay Business Park

PROPERTY: Plan May Address Shortage, But Has Critics

Sunroad Enterprises wants to dramatically change development plans for a 253.1-acre Otay Mesa business/technology park to include up to 3,158 housing units in what would be the largest project the company has undertaken.

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Monday, February 12

Mission Edge Seeking Applications for its SAIL Program

The nonprofit's program, which lasts 14 weeks, provides mission-driven enterprises with help in creating sustainable, revenue-generating business models.

Tandem Diabetes Care Lists $60 Million Public Stock Offering

San Diego medical device maker Tandem Diabetes Care recently announced a $60 million public stock offering.

San Diego Plays Supporting Role in USS Boxer Repair

Huntington Ingalls Inc., parent to the Continental Maritime shipyard in Barrio Logan, received an $11.6 million order covering work to the USS Boxer, a Wasp-class amphibious assault ship.

Business Calendar for Week of Feb. 12, 2018

Business events scheduled in the county for the week of February 12, 2018, and beyond.

Nonstop Ambition

LEADERSHIP: From Resorts To Airlines, Ted Vallas Always Has a Project on his Radar

Ted Vallas, the 96-year-old driving force behind California Pacific Airlines, stands in the bright February sun in front of the passenger terminal at McClellan-Palomar Airport.

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$775M Settlement Spares SDG&E

ENERGY: Utility Still on Hook For Part of San Onofre Costs

San Diego Gas & Electric’s bottom line won’t be impacted by a proposed settlement that will cut by $775 million owed by ratepayers for the closure of the San Onofre nuclear plant.

Carlsbad Site Start of Big Plans for Coworking Co.

ECONOMY: It Says 8 New Sites Set for 2018, Demand Remains High

One year after coworking space CommonGrounds Workspace made its debut in Carlsbad, the business said it plans to open eight new sites in 2018, including one in downtown San Diego.

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Banks Join Broadcom in Qualcomm Bid: $100B Available

Broadcom Ltd. said Feb. 12 that it has lined up as much as $100 billion in financing for its proposed, $121 billion acquisition of Qualcomm Inc.

Pacific Beach Apartments Sold For $3.7M

Complex has 16 apartments.

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Sirenas Inks Research Partnership with Bristol-Myers Squibb

Sirenas, a marine-centric biotech in San Diego, has entered into a research agreement with pharmaceutical giant Bristol-Myers Squibb.

Sunday, February 11

Miramar Building Sells For $8.8M

Building is fully leased.

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Soci Inc. Hires a CMO

Monica Ho was formerly chief marketing officer at geomarketing ad platform GroundTruth (previously xAd).

OliverMcMillan Sold to Canadian Firm

Brookfield Residential Properties acquires developer of mixed use projects.

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Viasat Reports Net Loss and In-flight Wi-Fi Deal

Viasat reported a third-quarter net loss of $24.6 million on revenues of $381.8 million. It also inked a deal with United Airlines.

Dexcom CEO Is ‘Gadget Guy’ Who Emphasizes Human Side, Grows Co.

Seated beside an oval table in his office, Kevin Sayer squints to read a text on his phone. His blue eyes — the same color as his button-down shirt – light up.

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Qualcomm’s 5G Modem Chips Attract a Crowd of Companies

Nineteen wireless phone, tablet and module makers are putting Qualcomm Inc.’s extra-speedy fifth-generation wireless modem chips into their products for 2019, Qualcomm announced Feb. 8.

Point Loma Peninsula Should Be on Any S.D. Treasures Map

When Richard Henry Dana Jr. landed in San Diego in the mid-1830s, he wrote about his experience as a merchant seaman in his classic memoir “Two Years Before the Mast.” Upon arriving at the harbor mouth in Point Loma, Dana wrote: “...we had a large and well-wooded headland directly before us, behind which lay the little harbor of San Diego.”

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State’s New Storm Water Regulations are Untenable

California’s Industrial Permit is in a state of disarray and has the potential to drive even more businesses out of the state. If you are an industrial business with operations in California, pay attention.

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Co. Opens Location and Opens Its Heart With Donation

Arhaus LLC, a nationwide home furnishings company, donated $16,921 to Promises2Kids. Arhaus selected Promises2Kids as its charity of choice to receive 10 percent of sales during its recent grand opening event at Westfield UTC.

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Flight Innovations Mean Modifications for Shipyards

A new model of aircraft coming to U.S. Navy ships means work for San Diego’s shipyards. The new aircraft is the F-35 Lightning II, also called the Joint Strike Fighter. One of its three versions is similar to the Harrier Jump Jet, in that it can land vertically and take off in a very short distance.

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Kratos Pushes Ahead On Air Force Projects

Kratos Defense and Security Solutions Inc. recently announced a new contract and passed a milestone on a second project.

GA-EMS to Develop Capacitors For Microwave Weapons

General Atomics Electromagnetic Systems Group said on Jan. 31 that it received a U.S. Navy contract to develop advanced, high-energy-density capacitors for high-power microwave weapon systems. Financial terms of the contract, awarded by the Defense Ordnance Technology Consortium, were not disclosed.

Local Bank Sees Market Full of Opportunity and Big Targets

BANKING: Emphasizes Deposit Relationship, Aims To Compete With Big Banks

Roughly a decade after moving its headquarters from Ramona to San Diego, the Bank of Southern California has grown to nearly half a billion dollars in assets and expanded into a third county.

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Friday, February 9

Broadcom Pushes for Immediate Meeting; Qualcomm Says Merger Will Harm Business

With Qualcomm Inc. rejecting its latest bid, Broadcom urged Qualcomm late Feb. 8 to come to the negotiating table immediately, suggesting a weekend meeting in New York or a mutually convenient location.

Thursday, February 8

Taking The Global Initiative

Recent data show the San Diego region’s international trade has been expanding faster than the economy as a whole.

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Seismic Hires CMO, Plans to Add 190 to Headcount in 2018

John Raguin cofounded Guidewire Software (NYSE: GWRE) and led it from inception to $150 million in revenue and pre-IPO.

MKO Global Partners Acquired

San Diego-based MKO Global Partners has been acquired by Two Labs, which provides product and commercialization services to pharmaceutical manufacturers.

Billionaire Patrick Soon-Shiong Confirmed Buyer of Union-Tribune, L.A. Times

Tronc, formerly Tribune Publishing Co., acquired the San Diego Union-Tribune in 2015.

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Former Arcturus CEO Is Challenging His Termination

Joseph Payne is challenging the legality of Arcturus Therapeutics firing him as president and CEO of the company, according to a Feb. 6 letter filed with the U.S. Securities and Exchange Commission.

Imperial Beach Building Sold For Nearly $7.2M

The Breakwater Town Center is anchored by Grocery Outlet.

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Callaway Golf Reports Earnings for an Acquisitive 2017

Callaway Golf Co. closed out 2017 on a strong note, reporting net income of $40.8 million or 42 cents per share on net sales of $1.05 billion.

Altegris to Merge With Artivest, Creating $3 Billion Alternative Investment Platform

The combined firm will have 100 employees and service more than $3 billion in capital from offices in San Diego and New York.

Qualcomm Rejects Broadcom's New Bid

Qualcomm Inc.’s board rejected Broadcom Ltd.’s revised, $121 billion bid for the company, which Broadcom announced on Feb. 5.

Wednesday, February 7

Free Launch May End at EvoNexus

San Diego’s oldest startup incubator aims to help fledgling companies achieve sustainability. Now the nonprofit is taking steps to ensure its own long-term survival.

Mission Valley Office Tower Is Getting A Makeover

Tower 591 will have a new look inside and out

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Hemp Companies Take Root in the Region

AG: Medical Use Explored; Retail Products Find Following

A so-called green rush in San Diego has centered on marijuana. But a crop of companies are capitalizing on a lesser-known part of the cannabis industry: hemp.

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Joint Venture Helps Co. Cover More of the Sleep Sector

RETAIL: ResMed Sees Potential In Retail Sleep-Rating Device

ResMed’s 2011 acquisition of an Irish company called BiancaMed led to a new company: SleepScore Labs of Carlsbad, formed in 2016.

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San Diego's Gafcon Inc. Picked For Development In China

Zizhu Purple Bay project is on an 800-acre waterfront site

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Tuesday, February 6

Cubic Corp. Sales Grow 2 Percent, Net Loss at $9.8M

Cubic Corp. reported a net loss of $9.8 million on sales of $340.7 million in its first quarter, as well as a record backlog.

Key Leadership Changes Expected To Help Unlock Zesty.io’s Potential

Recently, Zesty's 33-year-old CEO stepped down to focus again on the technology underpinning the company's software, which is now being used by enterprise clients including Sony Electronics.

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Oceanside Industrial Center Sold For $12.8 Million

Rancho Del Oro Commerce Center is close to fully leased

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Report: Union-Tribune May Be Sold to SoCal Billionaire

Patrick Soon-Shiong, a Tronc shareholder, is the reported buyer.

Rip Current Brewing Co. Brewmaster Tapped to Head SD Brewers Guild

The Guild's former president, Pizza Port Brewing Co.’s Jill Davidson, is transitioning to a president emeritus role.

National City Building Sells for $21 million

Building was acquired in 2016 for $12.2 million

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Kilroy Realty Curates Right Retail Tenants To Fit the Vision for One Paseo Development

A little more than a year after formal groundbreaking ceremonies, the company has started signing up tenants for its 23-acre One Paseo project in Carmel Valley.

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Digital Marketing Agencies Combine to Offer Dental, Finance Expertise

Dental practice marketer Wonderist Agency has acquired Merger Labs, which works with PE and M&A pros.

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Monday, February 5

Cox Business Names New Vice President

Cox Communications has named Duane Cameron vice president of Cox Business San Diego.

Hobby Lobby Moves Into Oceanside Center

Crafts and hobby store takes over former Dicks Sporting Goods site

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Business Calendar for Week of Feb. 5, 2018

Business events scheduled in the county for the week of Feb. 5, 2018, and beyond.

Industry Welcomes Suspension of Device Tax

HEALTH CARE: Tax Said to Hurt Staffing, R&D Efforts at Cos.

While San Diego’s medtech hub is cheering the recent suspension of a 2.3 percent excise tax on medical device makers, a full repeal remains the industry’s ultimate goal.

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Oncor, Sempra Deal Receives Unanimous Stakeholder Support

Sempra Energy’s $9.45 billion deal to acquire Oncor has garnered unanimous support from 10 stakeholders involved in the regulatory proceedings, it was announced last week.

Viasat Expands Fulfillment Deal as Viasat-2 Nears Its Debut

Viasat Inc. said it expanded its relationship with Little Rock, Arkansas-based Perfect 10 to provide nationwide fulfillment services.

Broadcom Increases Bid for Qualcomm

Broadcom Ltd. increased its bid for Qualcomm Inc. to $82 per share, and has invited Qualcomm Executive Chairman Paul Jacobs to sit on the combined company’s board.

Sunday, February 4

Sorrento Mesa Building Sold for $3.5M

Buyer will renovate the building.

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Detecon Innovation Institute Tapped to Run Airport's Innovation Lab

Innovations that improve waste management, streamlining transactions and use artificial intelligence are likely to be among the program's priorities.

Hospitals Take Preventive Fiscal Measures

San Diego hospital systems have reported significant drops in operating income given a whirlwind of financial pressures.

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Kratos Pushes Ahead on Two Air Force Projects

Kratos Defense and Security Solutions Inc. recently announced a new contract and passed a milestone on a second project.

Arcturus Therapeutics Terminates CEO

The company said Feb. 2 that its board fired president and CEO Joseph Payne and named Mark Herbert as interim president.

CommonGrounds to Open 8 More Coworking Sites, Including Downtown S.D. Location

A shared workspace in downtown San Diego is among the eight CommonGrounds says it will debut in 2018.

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Bank Outgrows Name, Keeps Commitment to Communities

San Diego Private Bank, the locally based institution with branches in three counties, is renaming the company CalPrivate Bank.

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For Banks, Employees Tax Reform Pays

Local banks are taking a range of tacks when it comes to the consequences of the federal tax reform legislation signed into law in late 2017.

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ASML’s Microchip-Making Scanner May Prove That ‘No Job Is Too Small’

If you want to compete in the Indy 500, you need speed, power and efficiency. You qualify for the race by driving your highly specialized car at roughly 230 mph for four laps (10 miles). Your machine has to perform flawlessly.

Pulse Electronics Closes Acquisition

Pulse Electronics Corp. closed its acquisition of Egston Holdings GMBH, an Austria-based company that provides magnetics and cable assemblies to several industries, including the automotive, industrial, power magnetics and electric vehicle markets.

RF Reports Net Sales of $31M for FY 2017

Electronics component maker RF Industries Ltd. closed out its 2017 fiscal year in October with $382,000 of net income, transitioning from a year with a $4.1 million net loss. The Miramar-area business reported net sales of $31 million for fiscal 2017 and $30.2 million in fiscal 2016.

Grant Helps Center for Children on Its Education Mission

Las Patronas, a La Jolla-based nonprofit, announced it awarded a $16,657 grant to the San Diego Center for Children Academy’s expansion project.

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Attorney Elected President of San Diego Bankruptcy Forum

Maggie Schroedter, business litigation and bankruptcy attorney at Higgs Fletcher & Mack, was elected 2018 president of the San Diego Bankruptcy Forum.

Effort to Split Property Tax Rolls Is a Bad Idea

Since the passage of Proposition 13 in 1978, there have been multiple efforts to require commercial properties to be periodically reassessed for tax purposes. The newest effort is the California Schools and Local Communities Funding Act of 2018, which was filed with the State Attorney General’s Office in December.

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San Diego’s Innovation, Reputation Sell in International Market

TRADE: Product Exports Include Premium Goods, Technological Advances

When specialized lighting manufacturer FoxFury LLC goes to international trade shows, it never hurts to mention the company is based in San Diego County.

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Trading In On Expertise

ECONOMY: Local Services Have Helped Double Region’s Exports, Expected to Overtake Products By 2020

It comes as no surprise to Chula Vista-based executive search firm The QualiFind Group that the San Diego region’s exports grew at a relatively fast clip during the past several years – because the company itself has been part of that growth.

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Atlantic Charms, Pacific Setting

A quest for untapped potential is the driving force behind this Hamptons-style residence on the southwestern edge of the Muirlands neighborhood in La Jolla. As part of its Signature Series of residential homes, award-winning builder Zephyr challenged the boundaries of traditional thinking by rotating the footprint of the previous home to maximize the panoramic views that span from Dana Point to Mexico. This spacious, light-filled home is an impeccable fusion of classic East Coast styling with the luxury of California indoor/outdoor living.

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Friday, February 2

OncoSec Announces $20 Million Public Stock Offering

OncoSec Medical, a San Diego biotech developing cancer therapies, announced on Feb. 1 a $20 million public stock offering.

UCSD, National University to Benefit From La Jolla Philanthropist's $30M Gift

Sanford’s charitable giving and contributions, which typically are tailored to improve health care and benefit children’s causes, exceed $1 billion.

Newport Beach Company Buys Two S.D. County Industrial Buildings

CapRock Partners is bullish on the county's industrial market.

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New CFO Named for the S.D. Convention Center

Mardeen Mattix was selected to succeed Mark Emch.

Thursday, February 1

Poway-Based Electrical Testing Equipment Co. Acquired by PE Firm

Vitrek CEO and cofounder Kevin Clark plans to retire after a transition period.

Illumina Awarded $26.7M in Lawsuit

LEGAL: Patent Infringement Case Over Prenatal Testing

A federal jury in San Francisco awarded Illumina $26.7 million in a lawsuit accusing Ariosa Diagnostics of infringing on patents, a decision that could bolster Illumina’s strong position in the prenatal testing market.

CUSTOM CONTENT: Increased Investments from China Create Unique Growth Opportunities for US Companies

Custom Content from the San Diego Business Journal

For companies in the United States, there’s never been a better time to attract investors from China and expand market share in Asia.

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Medical Director Named at Scripps MD Anderson Cancer Center

Thomas Buchholz, a physician, researcher and scholar, has been named medical director of the Scripps MD Anderson Cancer Center.

El Cajon Apartments Sold for $3.8 million

The Terrace Apartments have been remodeled.

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For Jeweler, It Was All About Family, Customers and Passion

RETAIL: People Person, Skilled Jeweler Thrived At the Profession

At 93, George Carter Jessop Jr., is the oldest surviving member of the family that founded Jessop Jeweler.

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NextWave Bridges the Creative to the Commercial for Researchers, Institutions

A venture capital firm in Carlsbad isn’t looking for companies to back; it’s looking for ideas.

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Chula Vista Looks to Be Big In Drone Testing

AIRCRAFT: City Offers Most Room, 375 Acres; Other Options Are in County

City officials have long envisioned it as a university campus. But a sprawling plot of land in the eastern part of the city has become a place for aerospace.

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Free Launch May End at EvoNexus

STARTUP: Incubator Weighs Taking Stake in Companies

San Diego’s oldest startup incubator aims to help fledgling companies achieve sustainability. Now the nonprofit is taking steps to ensure its own long-term survival.

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One Stop Systems Prices IPO at $5 Per Share

Escondido-based One Stop Systems priced its initial public offering at $5 per share, below the $6 to $8 range it had anticipated.

Cafe Rio Opens Loma Square Restaurant

New restaurant is the company's 20th California location

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