Stories for May 2018
Thursday, May 31
Qualcomm Debuts Dedicated Chip For VR, AR Applications
Company said manufacturers are already developing products for the new XR1 platform.
Fletcher Hills Center Sold For $7.8M
Center was renovated in 2014
Bizness Apps Acquired by $1B Private Equity Fund Think3
More than 100,000 small businesses use Bizness App's platform.
ResMed to Acquire HEALTHCAREfirst
San Diego-based ResMed will acquire HEALTHCAREfirst, which specializes in software for home health and hospice agencies.
GA-ASI Kicks Up Desert Dust With First MQ-25 Engine Test
General Atomics Aeronautical Systems Inc. said it successfully tested the jet engine that will be at the heart of its carrier-based refueling aircraft design.
Green Flash Brewing Appoints New CEO
Green Flash Brewing Co. announced the appointment of Michael Taylor to CEO.
Payne Back in Charge at Arcturus Therapeutics
Once-ousted CEO Joseph Payne is back leading Arcturus Therapeutics. Even he saw a return as a longshot.
Wednesday, May 30
Ruling on Independent Contractors to Affect All Businesses
LAW: Misclassification Could Bring Costly Penalties on Businesses
The California Supreme Court recently issued a ruling that is now changing the way employers classify independent contractors.
Gamer Momentum Puts E-Sports in Big Leagues
GAMING: Gear, Games And Player Participation Create Sector Worth Billions
Turtle Beach Corp., the San Diego company that provides gaming headsets and audio accessories for video game consoles, is experiencing explosive growth.
New Chair, Board Member for California Life Sciences Association
The California Life Sciences Association has a new board member: Jared Watkin, the senior vice president of Diabetes Care at Abbott Laboratories.
DonationMatch Launches Program to Link Local Businesses, Nonprofits
DonationMatch GiveBack Program enables nonprofit organizations to find local businesses willing to host fundraisers and streamlines such requests for businesses.
Haas Portman, Family Office With Publishing Ties, Backs Software Startup Zeeto
Zeeto’s software gives publishers the opportunity to ask questions of readers and, using the collected data, target them with ads.
Barbara Chodos Hired as Publisher of San Diego Business Journal
Veteran Media-Sales Exec Joins From Desert Sun in Palm Springs
Barbara Chodos has been named president and publisher of the San Diego Business Journal, effective June 15. She will succeed Huntley Paton, who is moving to North Carolina to be closer to family.
Olivewood Gardens and Learning Center Executive Director Named
Jennifer Nation is the former director of programs for Girl Scouts San Diego.
Tuesday, May 29
Vuori Set for Scaling With Experienced Team
RETAIL: Co. Forecasts $20M In Sales; Plans to Add Stores
When former athlete-turned-model-turned-finance-guy Joe Kudla couldn’t figure out what to wear to his yoga class, he decided to switch gears and launch his own clothing line, Vuori, which he expects this year will bring in nearly $20 million.
SD 500 Update: Stone Opens in China; Grandesign’s Wonder
SD 500 Update: Stone Opens in China; Grandesign’s Wonder
Triton Funds Is All About Gains
FINANCE: Investors Give UCSD Students Access To $25M for ‘Millennial Perspective’
Typically an investor has a few decades of investment experience under his or her belt before getting an ocean-view office.
Ocean Beach Apartment Building Sold For Nearly $6.8M
Waterfront building has 16 apartments
Viasat Announces Key Deal With Embraer
A first for Viasat
Home Bay, Real Estate Tech Firm, Acquires Settlement Services Co.
Integration of escrow services and issue title insurance policies into Home Bay platform intended to reduce fees and paperwork.
Arcturus, Former CEO Reach Settlement
Former Arcturus CEO Joseph Payne appears to have prevailed in a fight for control of the company.
Monday, May 28
NXP Acquisition Effort Is Full of Twists, Turns
TECH: Even Approval Won’t End Challenges for Qualcomm
Qualcomm Inc., most well-known for its smartphone chips, already has its processors in “smart” cars made by major automakers worldwide.
Jerome’s Furniture Opens Second Riverside County Dream Shop
The store, which is located across from the Tyler Center at 10300 Magnolia Ave., in Riverside is the second to open outside of San Diego County.
SDBJ INSIDER: A Crash Course On Aging Well And Tough
Skateboard legend Tony Hawk has a new gig pitching a small business credit card for Chase.
Biotechs Seek Reward Of Commercialization
PHARMA: Skipping Partnerships Can Build Profits and Skill Sets
Several San Diego biotechs — including Neurocrine and Arena Pharmaceuticals — are bucking the norm by handling drug commercialization themselves.
J. Craig Venter Retiring from Human Longevity
J. Craig Venter is retiring as the CEO of San Diego-based Human Longevity, Inc., about five months after reassuming the role.
Business Events Calendar for Week of May 28, 2018
Business events planned in the county for the week of May 28, 2018, and beyond.
Sunday, May 27
C.W. Driver Event Brings Shelter, Help to Homeless Families
C.W. Driver Cos., a California-based builder since 1919 with seven offices in California — including San Diego and Carlsbad, announced that it hosted its third annual charity golf tournament benefiting San Diego-based nonprofit Solutions for Change.
Luxury Home Brings Beauty of Outdoors Into Its Palatial Mix
On the southwestern edge of Rancho Santa Fe, tucked in between the communities of Del Rayo Estates, Del Mar Country Club and Montecito is Winland Hills. It’s an exclusive community off San Dieguito Road with just a handful of grand, gated estates — among the largest in all of San Diego County. Winland Hills Drive is easy to miss from San Dieguito Road and has the feel of a private, paved country road. It’s no more than a third of a mile long with no other connecting arteries, so it’s used only by the residents who live along it.
Class B Properties Earn a B-Plus in Eyes of Many Tenants
PROPERTY: Downtown Renters Seek Urban Feel That Comes at Lower Rent
Funky, older office buildings are the hot property of the day, especially in downtown San Diego where they are attracting more interest than some of the newer office towers.
Transforming The Waterfront
DEVELOPMENT: Persistence Is Set To Pay Off as Pacific Gateway Readies To Break Ground on Massive Project
On June 1 it begins — the $1.5 billion transformation of a 12 acre-chunk of the downtown San Diego waterfront that’s been 12-years in the making.
Builders Are Facing Difficult Bid Process as Construction Costs Soar
Keeping up with rising construction costs is a difficult challenge for San Diego builders, contractors and developers, who said they’re facing a fierce demand for the materials they use and the workers they need.
Some Bookstores Are Able to Find Their Success Story
RETAIL: Creating Experience And Community Can Pay Off
“Location, location, location.” The adage is just as valid for the successes of some brick and mortar bookstores today as it is for selling property — that and a bit of community engagement, too.
TCA Volunteer Analyst Program Brings More Diversity, Insight to Investing
A group of volunteers that helps the San Diego chapter of Tech Coast Angels vet deals has become an integral part of the organization — and a potential bench of diverse future investors.
Blockchain Will Increase Trade, Tariffs Will Not
The trade war between the People’s Republic of China and the United States is on hold — at least for the time being. The Chinese and U.S. governments have spent the past few months threatening to impose various tariffs and other protectionist measures on the other, only to retract much of them after intense negotiations in Beijing and Washington, D.C.
Friday, May 25
Solana Beach Companies Sold Nevada Hotels
Hotels were renovated in 2016
Thursday, May 24
Qdoba Sees Opportunities For Talent, S.D. Stores
FOOD: Without Jack, Co. Will Ramp Up Staffing, Eye New Sites
Qdoba Mexican Eats has no plans to leave San Diego.
Local Cos. Find Rich Vein to Tap in Blood Diagnostics
BIOTECH: From Cancer to Concussions, Efforts Change Cost, Course of Treatments
Banyan Biomarkers hit a milestone in February when its blood test for traumatic brain injuries won U.S. Food and Drug Administration approval.
Tijuana Arriving On Startup Scene
ECONOMY: City’s Talent, Location and Collaborative Style Should Link It to S.D.
A San Diego entrepreneur’s day may go something like this: Commute to a local coworking space; for lunch, track down those grilled octopus tacos you’ve been hearing about; meet with a potential hire across town at coworking space; and post interview, stop at a local brewery for a craft beer or two.
ResMed Disputes Australia Tax Levy of $190.1M
FINANCE: Co. Doesn’t Expect Any Change to U.S. Tax Assessment
San Diego-based ResMed is challenging an Australian Taxation Office assessment saying the company owes $190.1 million.
Arcturus Proxy Fight Set for June 25
A proxy fight between Arcturus Therapeutics’ board and former CEO will play out at a newly set June meeting.
S.D. Hopes ANOC World Beach Games 2019 Will Be First of Many Sports Events
The World Beach Games will take place in San Diego from Oct. 10-15.
Bloom Science, Focused on Epilepsy Treatments, Debuts
San Diego-based Bloom Science, which emerged May 24, is drawing upon gut bacteria to develop medicines.
Imperial Beach Project Sold For $2M
Units can be sold as condominiums or rented as apartments
Strip Shopping Center Sold For $6.5M
Center is fully leased
FMT Consultants Acquires Consulting, Solutions Company
Carlsbad-based FMT Consultants announces acquisition.
Viasat Posts Record Revenues
Viasat reports earnings
San Diego Company Buys Arizona Office Tower
Building is leased to Arizona Public Service Company
San Diego Venture Group Names 30 Startups to 2018 'Cool Companies' List
Of 180 startups, 30 make the 2018 cut.
Carlsbad Apartments Sold For $3.2M
Complex has nine units.
Wednesday, May 23
Encinitas Jewelry Designer Creates Keepsakes for Royal Wedding
Lisette Polny, an Encinitas-based jewelry designer who owns the company Zofia Day, was tapped by Meghan Markle to create a custom-designed keepsake for the royal wedding bridal party.
Bird Rock Coffee Roasters to Open Fourth Location in S.D.
This is the first of its cafés in North San Diego County, and the first location opened under the leadership of Jeff Taylor of PT’s Coffee Roasting Co., which acquired the specialty coffee retailer last year.
CRE Platform’s Depth Makes Deals Happen
PROPERTY: Tools Help Gauge Interest, Seriousness
Back in 1999 when Real Capital Markets got started, there wasn’t much to the company.
Final Building in Biz Park Delivers Solid Industrial With Office Style
The final piece to a 2.1 million square-foot Murphy Development Co. business park in Otay Mesa is falling into place with construction of a 79,050 square-foot building at 8500 Kerns St.
SD 500 Update: Biotech Veteran Hale Raises $60 Million
Items of interest about people in 2018 The San Diego 500, The Book of Influential Business Leaders:
David Hale, one of San Diego’s most prominent life science leaders, has announced the completion of a $60 million Series A financing for Neurana Pharmaceuticals Inc.
Medical Complex Sold For $13.5M
Complex has five buildings.
Evofem Lists $39.9M Public Stock Offering
San Diego biotech Evofem Biosciences, which focuses on women’s sexual and reproductive health, announced a public stock offering on May 22.
Design-Build Team Celebrates Opening of New Terminal 2 Parking Plaza at San Diego International
Swinerton Builders announces opening of new Terminal Two Parking Plaza.
Tuesday, May 22
Life Science Leasing Activity Keeps Submarkets Lively
Leasing activity by life science companies finished strong in several San Diego submarkets for the first quarter of 2018, led by small- and midsize companies expanding or relocating to San Diego, according to a report from the commercial brokerage firm JLL.
Maxwell Makes Big Auto Deal and Moves in Other Markets
PRODUCTION: Co. to Pursue System Solutions, Teams With SDG&E
It seems San Diego-based Maxwell Technologies Inc., which develops and manufactures ultracapacitor-based energy storage and power delivery solutions, has both hands on the wheel when it comes to providing that technology to the automotive industry.
COMMENTARY: Life Science Ecosystem Is Worth Nurturing
Every day, millions of Californians go to pharmacies to get their prescriptions filled. It’s part of their routine, wedged between a trip to the dry cleaners and dropping off the kids at soccer practice.
Cubic Provides Canada’s First ‘Tap to Pay’ Feature
The first open fare payment system in that country allows passengers to pay for travel using contactless credit cards and mobile wallets.
Rancho Bernardo Office Building Sold For $17.9M
Building is fully leased.
SDBJ Announces the Fastest 100 Growing Private Cos. List
The publication has announced this year’s list of the fastest growing companies in the region.
California Southern Small Business Development Corp. Names New Chief Credit Officer
Juan Carlos Hernandez replaces Marvin Groner, who served as CCO of California Southern for 25 years.
Apartment Complex Sold for $7.7 Million
Point Loma complex sold.
Scripps Ranch Building Sold For $4.8M
Building will be renovated.
AristaMD Hires Chief Strategy Officer
San Diego’s AristaMD has hired Adam Darkins, known for his work with the Department of Veterans Affairs, as the company's chief strategy officer.
Report: Pulse Electronics To Be Acquired By Taiwan's Yageo Corp. For $740M
The all-cash deal was announced by a Yageo executive at a news conference, the news agency said.
Monday, May 21
Biotech Co. Finds Tijuana a Good Fit for Its Operations
DEVICES: Thermo Fisher Exec Finds Infrastructure And Talent for Expansion
Maritza Diaz oversees operations at Thermo Fisher Scientific’s office in Tijuana. She splits her time between that office and the company’s campus in Carlsbad, her hometown.
PriceSmart Inc. to Open 2 Warehouses in Panama and Dominican Republic
The clubs are slated to open in spring 2019.
Ossic, Maker of 3D Audio Headphones, Fails; Won't Deliver Product to Crowdfunders
Startup cites virtual reality's "slow start" and high-profile hardware startup failures as factors in inability to raise additional money.
Viasat, Honeywell Expand Relationship with More In-Flight Internet Service
Viasat, Honeywell Aerospace expand in-flight internet to more business aircraft.
Kratos Division Receives $38 Million in Contract Awards
Since 2013, Kratos (Nasdaq: KTOS) has been making funded investments in its Unmanned Systems Division program.
Lytx Announces New CFO
Steve Lifshatz named CFO.
TheCoderSchool, Which Teaches Kids Computer Programming, to Open SD Site in June
The 9879 Carmel Mountain Road site is one of two locations the couple plans to open in San Diego.
La Jolla Emergency Department Receives First-of-Its-Kind Geriatric Accreditation
The Gary and Mary West Emergency Department at UC San Diego Health last week was accredited as a geriatric emergency department, the first such accreditation in California and one of only eight nationally.
Cidara Therapeutics, Rutgers University Receive $5.5 Million Grant
San Diego-based Cidara Therapeutics and Rutgers University were awarded a $5.5 million grant to research and further develop an immunotherapy platform.
Qualcomm Partners With Facebook on Project to Boost Cities' Internet Speeds
The technology being developed would offer faster connectivity for a "fraction of the cost" of fiber, the companies said.
Cannabis Medicine Moves Toward Likely FDA OK
HEALTH: Drug Treats Seizures; Co. Prepares For Commercialization
A plant-derived cannabis medicine is poised to be the first of its kind to win U.S. Food and Drug Administration approval. A winner of the expected greenlight: Carlsbad’s Greenwich Biosciences.
Sunday, May 20
CUSTOM CONTENT: Impact of New Revenue-Recognition Rules on Diagnostics Providers and Labs
New rules for revenue recognition are working their way through the life-sciences industry, and diagnostics companies and labs stand to be significantly impacted—
Urban Remedy Opening Solana Beach Store
Organic food company expanding into San Diego County
Realty Income Continues Its Monthly Dividend Streak
575th consecutive common stock monthly dividend
San Diego Workforce Partnership Selects KRA Corp. to Operate Career Centers
The change, effective July 1, consolidates operations to a single provider.
Big Data Will Be a Must for Troops on Battlefield
DEFENSE: Viasat Using Commercial Model to Bring Such Capabilities Forward
Big Data has become a major component in the civilian world.
SDBJ INSIDER: Biotech Titan Honored to Meet A Humble Servant
An insider’s takeaway from our Life Science book cover photo shoot with local titans Peter Farrell, Jay Flatley, Ivor Royston and J. Craig Venter at the Alexandria Center for Life Science at Campus Pointe: Bragging rights went to the humble Farrell for his recent up close at the Vatican with the pope.
Dawn Foods Closes Deal with Lakeside Bakery Supplies
Dawn Food Products, Inc., a global bakery manufacturer and ingredients supplier from Michigan, announced it has acquired Lakeside Bakery Supplies, a wholesale bakery distributor.
SDBJ Announces Lifetime Achievement Award Recipient
Mary Jean Anderson, owner and president of Anderson Plumbing, Heating & Air was named the Lifetime Achievement Award winner for the San Diego Business Journal’s “2018 Most Admired CEO Awards.”
Business Calendar for Week of May 21, 2018
Business events scheduled in the county for the week of May 21, 2018, and beyond.
Top Tech Execs 2018: Hudson Airom
Public Small
Hudson Airom is responsible for Mitek Systems Inc.’s critical access to cloud resources. Mitek Systems Inc. is a San Diego-based cloud consulting company, so it is essential that they operate on high speed with the capability to develop and improve products and services.
Top Tech Execs 2018: Troy Seelye
Public Large
Teradata is a global provider of data warehousing and analytics solutions, with annual revenue of about $2.5 billion.
Top Tech Execs 2018: Michael Hawman
Private Mega
Michael Hawman is CIO of General Atomics and its affiliates, which are among the world’s leading resources for high-technology systems ranging from the nuclear fuel cycle to electromagnetic systems, remotely operated surveillance aircraft, airborne sensors, and advanced electronic, wireless, and laser technologies.
Top Tech Execs 2018: Brad Williams
Private Large
Brad Williams directs all customer service functions for Petco, a global organization, which includes managing the operations and engineering team for IT end user services to more than 25,000 employees and contractors worldwide.
Top Tech Execs 2018: Ryan Fay
Private Small
Ryan Fay has demonstrated exceptional IT leadership that has contributed to the EAP company’s growth, client retention, and industry innovation.
Top Tech Execs 2018: Jerome Fodor
Private Medium
Jerome Fodor joined AbacusNext in 2013 and led the strategic technology development of Abacus Private Cloud from concept to commercialization, building one of the largest commercially available private clouds for legal and accounting professionals.
Top Tech Execs 2018: Ryan Rusnak
Private Micro
Ryan Rusnak co-founded Airspace Technologies in January. As a technology-enabled logistics service provider, Rusnak has guided the organization to integrate technology, people, and services through an automated software platform.
Top Tech Execs 2018: Alicia Rodriguez
Nonprofit Large
In addition to her CIO duties, Alicia Rodriguez also serves as the vice president of strategic initiatives for San Ysidro Health. She is responsible for IT, the Enterprise Project Management Office, and the Data Governance and Reporting teams.
Top Tech Execs 2018: Jonathan Behnke
Government
Jonathan Behnke has been CIO for the City of San Diego for the past three years and has led an initiative to upgrade the digital capabilities to serve its 1.3 million residents.
Top Tech Execs 2018: Angela Moran
Nonprofit Small
Angela Moran is an innovative IT executive with experience in planning, developing and implementing IT solutions in both the public and private sectors.
Top Tech Execs 2018: Terry Loftus
Education
Oceanside Unified School District Terry Loftus leads the Information Services, Educational Technology and Information Technology teams for the Oceanside Unified School District.
Top Tech Execs 2018: Worldly Business View Helps Life Science Exec Thrive
Exemplary Service
Johnson Lai joined Life Technologies in 2006 and helped scale its information systems during its massive growth, which led to its $13.6 billion acquisition in 2014 by Thermo Fisher Scientific.
Top Tech Execs 2018: Cancer Diagnosis Prompts a Renewed Sense of Priorities
Lifetime Achievement
In the words of Abraham Lincoln: It’s not the years in your life that count, it’s the life in your years. At just 39 years old, Marine, husband, father and cancer fighter Casey Cotton is leaving his mark on San Diego’s technology field.
Top Tech Execs 2018: It’s Automatic Now: IT Leaders Prepare for Artificial Intelligence
TECH: Innovations Bring Efficiencies, Added Value
From health-care delivery to government affairs, automation and artificial intelligence are altering the way business is getting done.
Grant Will Help Open Books and Open Doors for Students
United Way of San Diego County received a $100,000 grant from the David C. Copley Foundation and will use it to grow its early grade attendance and literacy pilot initiatives in City Heights and Lemon Grove. The grant will also help United Way share best practices with regional partners for greater reach.
Thursday, May 17
Grandesign Relocates Headquarters to Historic Wonder Bread Building
Its new, 7,600-square-foot office is in the historic Wonder Bread building near Petco Park.
Arena Quietly Returns With Promising Autoimmune Trials
PHARMA: Co. Transforms After Weight-Loss Flop
Arena Pharmaceuticals’ weight-loss drug flopped a few years ago, signaling a bleak future. That is, if you ignored Arena’s shelved compounds.
Law Firm Readies for Role In Age of Autonomous Cars
Product Liability Becomes Focus, Legal Services May Be a Bigger Market Than They Are Today
Embracing an emerging field of law, the Tyson & Mendes civil litigation firm has launched a practice aimed at defending the insurers and manufacturers of self-driving cars.
Plenty of Legal Issues Come With Endless Possibilities of AI
INNOVATION: Potential For Abuses Is Huge as Machines Make Decisions
In the near future, attorneys and the court system will be challenged to sort out who is liable when products equipped with artificial intelligence cause harm to persons or property.
Mobile Industrial Robots Opens Office in S.D.
Mobile Industrial Robots (MIR) announced the opening of an office in San Diego, led by Nicholas Temple, which marks the company’s second office in the U.S.
SDG&E Gives Two Grants to Fund Fire Dispatch Tools
The utility donated a $131,600 to the San Diego Fire-Rescue Foundation and another $32,000 to the San Diego Regional Fire Foundation.
Cali Bamboo Promotes President to CEO
Doug Jackson moves into the top post. Company co-founders Jeff Goldberg and Tanner Haigwood continue to serve on the board of directors as stewards of the company.
South Park Apartments Sold for $2M
Complex has seven apartments
Accelerator Life Science Partners Opens San Diego Office
Accelerator Life Science Partners, a life science investment and management firm, has opened a San Diego office at The Alexandria at Torrey Pines.
San Diego Venture Group Partners With OC, LA to Create New Regional Entity
Groups aim to increase investor interest in Southern California region.
Wednesday, May 16
Ad Astra Accelerator Has 3 in First Grad Class
The inaugural cohort of the new San Diego accelerator program for women-led startups is nearing the end of the 12-week program.
$100 Million Later, AI Startup May Close
TECH: Highly Touted in 2016, KnuEdge Cites Lack of Funds
A San Diego company that emerged from stealth mode with $100 million nearly two years ago after a decade of developing artificial intelligence technologies may be forced to close due to a lack of funds.
Sherry Lansing Joins The Scripps Research Institute Board
Former film executive Sherry Lansing, who led Paramount and Fox motion picture studios, has been named to The Scripps Research Institute board.
eSUB Adds $3M in Series A Financing Including New Autodesk Investment
The investment pushed its Series A round, which was led by Revolution Ventures, to about $8 million.
Edico Brings Valuable Tech Tools to Illumina
BIOTECH: Acquisition Moves Co. Toward Push-Button Process for Analysis
Illumina bought data processing specialist Edico Genome for $100 million as part of a bid to expand genomics testing in research and health care.
Pioneering VC Arlan Hamilton, Founder of Backstage Capital, to Keynote San Diego Startup Week
Hamilton recently announced the launch of a $36 million fund to invest in black female founders' companies. A San Diego-based company is among those in which she has previously invested.
Kratos Receives $18M Order
Work under these recent orders will be performed at secure Kratos manufacturing facilities.
Cubic Forms Partnership With Stockholm Company
Cubic and 4C Strategies will explore opportunities to further integrate the companies’ complementary products, services and solutions.
Ashford Unveils New Degree Program
San Diego-based online education institution is launching a new bachelor of science in Computer Software Technology program.
Tuesday, May 15
Impact of Qualcomm's Pain: Talent Will Be In Demand
While commiserating with Qualcomm workers left jobless in the wake of the company’s decision to cut roughly 9 percent of its local headcount, the region’s tech community is also eyeing the tech giant’s talented castoffs as a potential source of fuel for local innovation.
SD 500: Brewers Association Honors Tomme Arthur
Items of interest about people in 2018 The San Diego 500, The Book of Influential Business Leaders:
Co-Work Spaces Continue Slow, Steady Growth
Co-working companies are gobbling up office space in San Diego County, accounting for an ever-increasing share of the market.
Executive Q & A: Darrell Alford, Larry Deatherage and Sean Ciemiewicz, Retirement Benefits Group
There’s a two-pronged approach to the success and growth of Retirement Benefits Group (RBG), according to Darrell Alford, a company partner based in its San Diego office. T
Point Loma Building Sold For $2.1M
Building in across the street from Liberty Station
Former Pacific Beach Bar Sold For $2.1M
Former bar will become school
Qualcomm Stock Rises, Falls on Contradictory Reports of Acquisition Review
As trade talks continue, it's unclear whether regulators in China have resumed reviewing Qualcomm's proposed acquisition of NXP Semiconductors.
Petco Partners With Dog Food Kitchen Creators
San Diego-headquartered Petco announced on May 15 a partnership with the Los Alamitos-based JustFoodForDogs to open hundreds of “stores within stores.”
DB Networks Announces Company Name Change
DB Networks, a privately-held predictive database data loss prevention company headquartered in San Diego, announced on May 11 it has changed its name to DB CyberTech.
Silvergate, Banker of Choice for Cryptocurrency Cos., Sees Deposits Rise 125 Percent in One Year
The bank attributed $1.3 billion of its $1.7 billion in deposits as of March 31 to fintech clients.
Illumina Buys Edico Genome for $100M
Genomics giant Illumina has purchased Edico Genome, adding a processing platform to Illumina’s portfolio.
Monday, May 14
Impact of Qualcomm's Pain: Co. to Vacate 5 Buildings in Sorrento Mesa
Looming layoffs of 1,231 workers from Qualcomm’s San Diego operations are leading the company to vacate or sublease about 222,000 square feet of space in five buildings over the next several months in a move likely to shake up the commercial real estate market around the chipmakers’ Sorrento Mesa headquarters.
COMMENTARY: Lifesaving Solution for S.D. Coronado Bridge
More than 400 people have given up their lives jumping from the San Diego-Coronado Bridge since 1969 — with 98 in the past six years. San Diego and Coronado have become hosts to a suicide magnet that is now averaging 16 deaths per year.
University Heights Apartments Sold For $5.3M
Apartments were built in 1970
MEI Pharma Reports $75 Million Private Placement
San Diego-based MEI Pharma reported on May 14 raising $75 million through a private placement, led by Vivo Capital and CAM Capital.
Sunday, May 13
Cubic Earns Contract to Support Navy Training
Cubic Global Defense business division earns $16 million contract to help train U.S. Navy
Top Tech Execs Receive Awards
Thirteen of San Diego County’s top IT leaders received special recognition on May 10 during the 11th annual “Top Tech Exec Awards.”
San Diego Regional EDC Debuts Free 'Toolkit' to Bolster Local Business Recruitment Efforts
The material highlights career opportunities and lifestyle amenities available in the San Diego region.
‘Flight’ Plan Ready to Help Renew the Cedros Design District
PROPERTY: Developer, Designer Plan Mixed-Use Project in Solana Beach
The man who was a driving force behind creation of the Cedros Design District in Solana Beach more than 25 years ago has come up with a project he hopes will breathe new life into the two-and-a-half block collection of shops, day spas and boutiques.
SDBJ INSIDER: Mentoring Gives Leaders a Very Active Retirement
Jeff Campbell became CEO of Burger King at age 39 and says he was smart enough to do the job but wasn’t wise enough. Brainpower and energy can go a long way, but he points out experience brings patience and proper detachment. He held several other high-profile executive roles but last held a fulltime business gig in 2004.
Business Events Calendar for Week of May 14, 2018
Business events scheduled for San Diego County for the week of May 14, 2018, and beyond.
Developmentally Disabled Get Chance to Work and Create
St. Madeleine Sophie’s Center, an El Cajon-based nonprofit, announced that it received a $35,000 Project Innovation grant from NBCUniversal Foundation.
Bridgepoint Has Down Q1 as Business Transitions
EDUCATION: Earnings Fall as Company Becomes Online Program Manager
San Diego-based Bridgepoint Education, a for-profit postsecondary education services provider, said its revenue for the first quarter of 2018, which ended on March 31, came in at $118 million, down from last year’s first quarter revenue of $129.5 million.
Firm Using Machine Learning To Build A Better Website
TECH: Carlsbad Co. Digs Deeper on Analytics, On High Growth Trajectory
In an industrial office space in Carlsbad, Ezoic’s machines are learning. They are learning what makes a good website.
La Jolla House Brings It All Together in a Perfect Harmony
All that can be seen from the street of this home on Spindrift Drive in La Jolla is two sets of wooden doors on a four-car garage. It would not be discernible to the casual observer that the residence below is among the most exclusive and luxurious estates in San Diego County.
Friday, May 11
Mission Valley Apartment Complex Sold
Bella Posta Apartments has 344 units
Thursday, May 10
4 MetroConnect Cos. to Compete for $35K in Export Support
Votes cast by attendees at the MetroConnect Grand Prize PitchFest on June 7 will determine which company is awarded the money.
At Bay, City, Developer And Shovels Ready to Go
PROPERTY: Construction May Start in 2019
At long last, after more than 25 years of talk and false starts, a $1.1 billion resort hotel and convention center on Chula Vista’s bayfront may be close to becoming a reality.
Fintech Platform Packages Services, Solutions
FINANCE: Advisors Get Access to Support, Tools Under One Sign-In
Financial advisors at national brokerages, called wirehouses, have been leaving to join independent broker-dealers or become registered investment advisors (RIAs) in increasing numbers since the global financial crisis a decade ago.
AOTI Inc. Expands Executive Team
The private company based in Oceanside and Galway, Ireland, provides solutions to resolve severe and chronic wounds worldwide.
Kratos Sees Q1 Revenue Increase
The company reported an 8.3 percent bump to $143 million.
Lume Cube Founder Sells Majority Interest
The sale price was $1.4 million.
San Marcos Nursery Property Sold For $1.6M
Former owner consolidating business in Vista
Cidara Reports Q1 Results
San Diego biotech Cidara Therapeutics reported a net loss of $16.7 million in the first quarter, compared to a $13.14 million net loss in the first quarter of last year.
City of San Diego Among 10 Selected For Federal Drone Pilot Program
Companies including Qualcomm, AT&T, Uber, Intel, GE, Matternet, AirMap and Cape are involved with the city's proposal.
Wednesday, May 9
Co. Bets Its Data Will Win Outside of Casino
SOFTWARE: New CEO to Push Sector Specific Solutions
VizExplorer, the San Diego-based operational intelligence solutions provider, is on the brink of transition.
Ionis’ New Role Is Managing Success
PHARMA: Partnerships and Promising Pipeline Boost Co.
When Stanley Crooke formed Ionis Pharmaceuticals in 1989, he saw the venture as a longshot. He told investors as much.
Projects Give Seniors More Affordable Options for Housing
San Diego’s stock of affordable housing for older residents got an ever-so-slight boost in April with the opening of a 75-apartment complex in North Park and the construction of a 62-apartment complex in Ramona.
SD 500 Update: Cole to Keynote MetroConnect; RippleNami Honored
Items of interest about people in 2018 The San Diego 500, The Book of Influential Business Leaders:
Corporate Skills Are Up for the Tasks in the Volunteer World
Businesses Encourage Employees to Give Back Effectively to the Community Using Their Skill Sets
A long list of big and small corporations in town have engaged social responsibility departments.
Nonprofits Fill Roles as Facilitators for Corporate Philanthropy
CIVIC: Third Parties Match Cos., Volunteers With Community Projects
Late last month, about 40 volunteers from a San Diego company painted the home of and built a brand-new shed for a local family as part of a beautification project.
Qualcomm Says it Will Buy Back $10 Billion in Stock
Stock repurchases, which limit the supply of shares, are a way to lift stock prices.
Poway’s Cohu to Acquire Xcerra
Cohu, Inc. (NASDAQ:COHU), based in Poway will pay $796 million to acquire the Massachusetts-based Xcerra Corp.
Qdoba to Fill 100 Corporate Positions in San Diego
Qdoba Mexican Eats said on May 8 it will be adding roughly 100 full-time positions to its corporate team in San Diego
Escient Pharmaceuticals Snags $40M Series A Round
San Diego-based Escient Pharmaceuticals launched with a $40 million Series A round, which will go toward a pipeline of novel drugs.
Neurana Pharmaceuticals Raises $60 Million in Series A Round
San Diego-based Neurana Pharmaceuticals raised $60 million in Series A financing for a relaxant that treats acute, painful muscle spasms.
Luna DNA Raises $2 Million in New Investment Round
Solana Beach-based Luna DNA raised $2 million in a new round of funding, led by Illumina Ventures and Arch Venture Partners, it was announced May 8.
Tuesday, May 8
Veteran Leaders, Past Successes Play Part In Record VC Investment
FINANCE: Q1 Delivers Record Investment Locally and Nationally
Investment in San Diego-based life sciences companies hit a record high $417.9 million in quarter one of 2018, according to an April CBRE Group Inc. report.
Executive Q & A: Steve Fendley, Kratos Defense & Security Solutions
Steve Fendley, senior vice president and division president of Kratos’ Unmanned Systems Division, took time from his Roseville office to speak with the San Diego Business Journal about the company’s Phase III work on DARPA’s (U.S. Defense Advanced Research Projects Agency) Gremlins project.
Maravai LifeSciences Expands Top Management Team with 4 New Execs
The new hires have assumed key positions in two of Maravai LifeSciences operating businesses: TriLink BioTechnologies and Cygnus Technologies.
CalciMedica Names Two Senior Executives to its Board
CalciMedica focuses on calcium release-activated calcium (CRAC) channel drug discovery and development for the treatment of acute and chronic inflammatory diseases.
Qualcomm Executive Departs After 27 Years at Chipmaker
But the company won't say whether his departure was prompted by the widespread layoffs that are underway.
Sempra Energy Q1 Numbers Come in Low
The report showed earnings of $358 million, a $94 million drop from last year's first quarter.
Seismic Agrees to Acquire Sales Enablement Competitor Savo Group
Seismic anticipates the acquisition will push it to $100 million in revenue by year’s end.
Monday, May 7
Former Little Italy Building No Longer a ‘Forgotten Asset’
PROPERTY: Interior to Be Redone for Boutique Office Environment
A former U.S. Bank building on a prominent corner at the edge of Little Italy in downtown San Diego is about to undergo a dramatic transformation.
The Organic Option
AG: More Selective Market Leads to Demand For Co.’s Organic Produce
Growing organic bananas runs in her family.
SDBJ INSIDER: Local Brewmaster Buys Into Where Green Flash Failed
One San Diego brewer’s East Coast pain is another’s prospect.
San Diego Blood Bank, Seqster Partner to Provide Donors Access to Integrated Health Data
Seqster's platform standardizes data from electronic medical records (EMRs), wearables, such as FitBit, and genomics reports, such as those produced by companies such as 23andMe.
El Cajon Apartments Sold For $4.9M
Complex has 20 units
RedHill Investors Buys Wasington Apartment Complex
Complex is near Seattle
Stone Opens New Facility in Napa
Escondido’s Stone Brewing Co. announced on May 7 the official opening of its 9,500 square-foot restaurant and 10-barrel brewing facility in Napa, California.
Hillcrest Apartments Sell For $3.5M
Building has 16 studio apartments.
Sunday, May 6
Bridgepoint Education Releases Q1 Results
Revenue slides in the first quarter.
SDRC Gives Kudos to Small Businesses
The San Diego Regional Chamber awards five local business for their achievements.
Southwest Looks to Offer Nonstop Flights From San Diego to Hawaii
Southwest Airlines intends to offer nonstop flights from San Diego to Hawaiian Islands.
Sales Increase in Cubic’s Second Quarter
Cubic Corp.'s sales for the second quarter increased 12 percent to $278.6 million from $248 million in the second quarter of last year.
Business Calendar for Week of May 7, 2018
Business events planned in the county.
Business Success Means Engaging All Stakeholders
Bygone corporate strategy held that companies manage their business and responsibilities in silos — clients in one silo and shareholders in another. Human resources were separate, and charitable contributions an afterthought. Teamwork and integration were too often neglected. Interdependency of stakeholders was an unknown concept.
Healthcare District Makes Investment in Future Workforce
The Grossmont Healthcare District recently announced $90,000 in scholarships to 40 high school seniors who have expressed interest in a career as a health-care professional.
Finding Your Muse
The masterful reincarnation of Prospect Place, the iconic California Modernist office building at the foot of Girard Avenue in La Jolla, into a collection of world-class, luxury residences is without equal. Now known as Muse La Jolla, it sits high above the sea that cradles the sandstone cliffs of the picturesque La Jolla Cove. The meticulous design of each unit’s airy open flow showcases the finest interior materials and finishes. The result is a serene, indoor/outdoor living environment with a transcendent view. Step outside and an upscale village lifestyle — with art, culture, shopping, dining or a soul-soothing stroll along the cliffs — beckons.
Students Bring Purpose to a Place At Real Estate Design Competition
Plans for a fictitious Carlsbad development centered on a culinary school with two 150-room hotels, a community garden and office condominiums won first place for a student team from The Corky McMillin Center for Real Estate at San Diego State University in an April real estate design competition.
Chula Vista Bayfront Plan is Worth Supporting
With the Port Commission and Chula Vista City Council unanimous approval, the Chula Vista bayfront plan is finally coming to fruition. As a third generation Chula Vistan, I share mixed emotions with other community members about this huge project.
Friday, May 4
Report: Qualcomm Joint Venture in China Gets Regulatory Go-Ahead
Regulators in China are also set to determine the fate of Qualcomm's effort to acquire NXP Semiconductors NV, a Netherlands-based chip maker known for its automotive semiconductors, for more than $40 billion.
San Diego Housing Federation Announces 2018 Ruby Award Winners
The awards recognize leadership, innovation and impact in the affordable housing and community development industries.
Thursday, May 3
Nashville Accelerator to Welcome IP Attorney’s Guitar Co. to Its Fold
Jonathan Spangler joined San Diego medical device company NuVasive in 2001 as its first attorney.
Resort Aims to Ride Wave of RV Popularity
TOURISM: Bayfront Site Seen as a ‘Destination,’ Drawing Tourist Dollars
With the recent boom in sales in recreational vehicles the last few years, driven by adventure-seeking millennials and retiring baby boomers who are trading in swanky hotel stays for more outdoorsy ventures, it comes as no surprise that the recently-approved Chula Vista bayfront development project will be spearheaded by a state-of-the-art RV park.
Huntley Paton Stepping Down As SDBJ Publisher
The president and publisher of the San Diego Business Journal is leaving the organization this summer to return to North Carolina. “This is a family-first decision,” Paton said.
Tourism, Craft Beer Confident in Having Customers’ Support
ECONOMY: Surveys Show Optimism Nearly Unchanged from 2017
San Diego craft brewers are still confident about the future of locally-made beer even as they worry about competition and market saturation.
Free Address Office Sits Well With More Companies
OFFICE: Variety, Versatility Are Pluses of No Set Seat
Carissa Wisniewski as a managing partner of Moss Adams runs the company’s San Diego operations, but she doesn’t have a fancy corner office.
Local Factors Are Favorable to Continued Growth in Self Storage
They’re not sexy and may not spring to mind as the most obvious commercial real estate investment of choice, but self-storage centers are chugging along with a steady growth in demand and corresponding increases in rent.
Teradata Corp. Records $506M in Q1 Revenue
The company adjusted its guidance for 2018 revenue, citing the growing percentage of subscription licenses in its bookings mix.
Scripps Translational Science Institute Awarded $34 Million
The Scripps Translational Science Institute (STSI) was awarded $34 million in renewed funding to advance genomic and digital technologies in clinical care.
AMN Healthcare Reports Q1 Results
AMN Healthcare reported $522 million in quarter one revenue, up 6 percent year over year, fueled by higher-than-expected staffing needs.
Pacific Beach Apartment Complex Sold For More Than $2.7M
Complex has off-street resident parking.
Chicken of the Sea Moves North American HQ from S.D. to El Segundo
The new corporate headquarters saw the relocation of 150 staff.
Classy Releases Report Analyzing Data Points of Online Fundraising
The report also includes a fundraising benchmarks worksheet to encourage nonprofits to evaluate their own important data to help drive strategic planning.
Cauldron Ice Cream Coming to Kearny Mesa
Shop will feature handcrafted ice cream.
Wednesday, May 2
In China, Biotechs Take Partnership Path
TRADE: S.D. Cos. Able to Avoid Some of the Complexities
San Diego biotechs are inking deals with Chinese firms to tap into China’s ever-growing demand for groundbreaking drugs.
IDE Sees Hungry and Thirsty Market in State
RESOURCE: Water Reuse and Desalination Tech Is in Demand
Technology invented by IDE Technologies, an Israeli-owned water treatment company that has its Americas region headquarters in Carlsbad, is being used in demonstration projects in California that could change how the drought-prone state approaches wastewater reuse — and present the company with even more business opportunities.
Get a Taste of the Coding Life With Origin’s Free Sample
San Diego-based Origin Code Academy, which trains people interested in a career in coding, will begin offering courseware that teaches the fundamentals of HTML, JavaScript, and CSS for free at its website, OriginCodeAcademy.com.
‘Reimaging’ Brings Retail Center New Anchor and New Life
PROPERTY: WinCo. Foods’ Presence Paves Way for Other Stores
A once-trendy Oceanside shopping center that was abandoned by many of its tenants as it fell out of favor is being redeveloped with a new look, new stores and what its owner said is a bright outlook.
Physicians Find The Strengths in Numbers
For Many Doctors, the Demands and Duties Of Private Practice Drive Them to Group Practices
Concerned about the pressures associated with running a business of their own, many doctors in San Diego County and around the country are leaving independent practices to work for larger medical groups.
CPUC Judge Rejects Utility Request to Build New Natural Gas Pipeline in S.D.
The proposal orders the companies to pursue options for supply that may be needed in smaller amounts and for shorter periods of time in the coming years.
Two San Diego Apartment Buildings Sold to Single Buyer
WSC Investments bought both properties
Brixton Capital Buys Texas Apartment Complex
Complex is in Corpus Christi
Q1: Dexcom Revenue Jumps 30%
San Diego-based Dexcom reported a 30 percent year-over-year revenue increase in quarter one results due a sharp increase in international sales.
Mission Valley Office Buildings To Be Razed
Apartment complex planned for site.
Tuesday, May 1
NuVasive Reports Q1 Results
NuVasive reported $260.5 million in quarter one results, a 4.6 percent year-over year increase, with its core U.S. hardware business showing solid growth.
SD 500 Update: Brown Will Chair San Diego EDC; Malmuth Eyes Malls
Items of interest about people in 2018 The San Diego 500, The Book of Influential Business Leaders:
Defensive Technology Breaks Drones Chain of Command
DEFENSE: It Disables Link; Military Said to Have Deployed System
Citadel Defense, a counter-drone company based in National City, is gaining interest and attention for its proprietary drone targeting system.
Furniture Sector Finds Money in the Mattresses
RETAIL: Jerome’s Expands Standalone Dream Shop Footprint
Everyone needs a mattress — and a recent report, along with announced expansion plans for one local company, are helping to prove it.
SDVG Invites Public to Meet 'Cool Company' Candidates
Companies are selected based on their potential as industry disrupters and on their readiness for venture capital investment.
Venture Capital Fund Section 32 Adds Another GV Veteran
Section 32, established in 2017, has put money from its first fund into at least 16 companies, including cryptocurrency exchange Coinbase and dockless bike-sharing service LimeBike.
University Heights Apartments Sold For $3.4M
Building has 11 apartments
In San Diego, Retail Property Sector Doesn’t Just Survive, It Thrives
Retailers planning to expand, relocate or move into San Diego County could be in a bind, according to a report from Marcus & Millichap.
Ballast Point, EDC Team Up to Support Fund, Sell A Beer
ECONOMY: Creation Of Specialty Beer Hard To Swallow for Some
Ballast Point Brewing Co., which got its start in San Diego more than 20 years ago with a small group of homebrewers, is looking to give back to the city that gave the company a chance to grow.
