San Diego Business Journal


Qualcomm Sells Taiwan Factory for $85 Million

Qualcomm Inc. sold its Mirasol display factory in Taiwan, and the equipment in it, to Taiwan Semiconductor Manufacturing Co. Ltd. for $85 million, according to a securities filing.

National University to Offer Scholarships to City Employees

National University, the second-largest private, nonprofit university in California, has been named the City of San Diego’s Preferred Employee Education Program Partner and is providing scholarship opportunities to the city’s 10,000 employees.

Cisco, Qualcomm Execs to Discuss Internet of Everything

Cisco Systems Inc. executive Mala Anand and Qualcomm Inc.’s Raj Talluri will explore the Internet of Everything on Dec. 10 as part of the CommNexus Headliners lecture series.

Quinton Alsbury Named CEO at Roambi

Roambi, a San Diego business that provides an app for making better use of data, said Quinton Alsbury is its new CEO, succeeding his partner and the company’s co-founder, Santiago Becerra.

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Local Firm Buys Napa, Tempe Apartments for $50 Million

San Diego-based MG Properties Group has acquired two apartment properties in Napa and Tempe, Ariz., for a total of approximately $50 million, the private investment firm announced.

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Rental Condos in La Mesa Sold for $28.3 Million

Partnerships controlled by San Diego-based R&V Management Corp. have purchased the 124-unit Central Park condominium rental property in La Mesa for $28.3 million, according to CBRE Group Inc., which represented the seller.

San Diego Reportedly Loses America's Cup to Rival Bermuda

San Diego finished second to Bermuda in a high-stakes race to host the 2017 America’s Cup, according to an Associated Press report.

Business Calendar for Week of November 24, 2014

Some of the business events planned for the week of November 24, 2014, and beyond.

County Jobless Rate Drops to 5.8 Percent in October

San Diego County’s unemployment rate dipped to 5.8 percent in October, down 0.1 percent from September, as the region added a net of 12,500 jobs during the month, according to the state’s Employment Development Department.

Reva Medical Inc. Completes $25 Million Financing Transaction

San Diego-based Reva Medical Inc., a medical device company developing stents that can be absorbed by the body, announced that the $25 million financing transaction approved by shareholders on Oct. 31 has been successfully completed.

Waiting Period Ends for Proposed CareFusion, Becton Deal

Becton, Dickinson and Co. and CareFusion Corp. announced that the waiting period mandated under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 regarding Becton’s proposed acquisition of San Diego-based CareFusion expired on Nov. 19.

LRAD Corp. Reports Net Income of $3.3 Million for Fiscal 2014

LRAD Corp., the Rancho Bernardo maker of high-volume acoustic devices used by the military and law enforcement, reported net income of $3.3 million for fiscal 2014, up 164 percent from the $1.3 million recorded in fiscal 2013.

Neothetics to Sell 4.65 Million Shares to Raise $65.1 Million

San Diego-based Neothetics Inc., a developer of cosmetic therapies, said it will sell 4.65 million shares at $14 apiece in an initial public offering. The gross total to be raised is $65.1 million.

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North Park Apartment Complex Sells for $3.28 Million

Bill N. Shepard Trust of El Cajon has acquired an 18-unit apartment complex in San Diego’s North Park neighborhood for approximately $3.28 million, according to CoStar Group and public data.

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SeaPort Airlines Plans New Local Service to San Felipe

SeaPort Airlines plans to begin non-stop service between San Diego and San Felipe, in the Mexico state of Baja California, on Dec. 15.

Seven More Cities Join HERO Program

Seven more cities in San Diego County officially launched Home Energy Renovation Opportunity programs allowing home owners and commercial property owners to install energy and water efficiency improvements without any capital outlay and repayments made on property tax bills.

$60 Million East Village Apartment Project Approved

Civic San Diego, the city’s downtown project oversight agency, has approved plans for the $60 million Broadstone Makers Quarter, a 269-unit mixed-use apartment project to be built in East Village.

PetCo Purchases Online Supplier Drs. Foster and Smith

Petco, the San Diego-based pet supplies retailer that operates about 1,300 stores, said it agreed to purchase Wisconsin-based Drs. Foster and Smith, an online pet supply company that specializes in pet care and education, for an undisclosed price.

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Qualcomm Executives Discuss Revenue Expectations

Qualcomm Inc. executives spoke about long-term growth with New York analysts on Wednesday, saying the company expects revenue — which was $26.5 billion in fiscal 2014 — to grow at a compound annual growth rate of 8-10 percent through fiscal 2019.

Jack in the Box Reports Quarterly, Fiscal 2014 Results

Shares of Jack in the Box were popping by nearly $4 in midday trading Nov. 19 on the Nasdaq exchange, pushing the stock above $75, following the release of the company’s quarterly and fiscal 2014 results.