SD BUSINESS JOURNAL DAILY ENEWS
New York Company Acquiring Brokerage Firm Grubb & Ellis
BGC Partners Inc. is acquiring Grubb & Ellis Co., a commercial brokerage firm that has San Diego County operations at University Towne Center.
Marshall Edwards Looks to Raise $8M for Cancer Drugs
Marshall Edwards Inc. said Feb. 21 that it will seek to raise $8 million from existing stockholders to further develop its two lead cancer-drug candidates.
Optimism Rising Among Small-Business Owners
Wells Fargo Bank says America’s small-business owners are the most optimistic they’ve been since July 2008, before the recession took hold, according to the bank’s most recent index survey it does with Gallup.
Retiring Old Wireless Devices Paying Off for Firm
Helping people get rid of old wireless devices is becoming a popular business plan.
Leap Wireless Reports Decline in Net Loss, Rise in Revenue
Leap Wireless International Inc., a spinoff public company from Qualcomm Inc. that sells advanced, flat-rate pay cellphone services, reported Feb. 16 a fourth-quarter net loss of $84.4 million, compared with a net loss of $249.4 million for the like quarter of 2010.
Cardium Therapeutics Gets $5M Boost From Stock Sale
Cardium Therapeutics Inc. said Feb. 16 that it raised $5 million in gross proceeds through a direct sale of nearly 18 million shares of its common stock.
Local Firm Seeks ‘Milestone Payments’ From Facebook Fans
PhotoBin, a San Diego-based business that creates digital images from old photos, negatives and slides, is trying to capitalize on one of Facebook’s most recent initiatives.
Ross Opening 2 More Discount Stores Locally
Ross Stores Inc. plans to open two locations of its dd’s Discounts retail chain Feb. 25, the company said on its website Feb. 17.
DJO Global Breaks $1 Billion Sales Threshold for the 1st Time
Annual sales at Vista-based DJO Global Inc. surpassed $1 billion for the first time in 2011, said President and CEO Mike Mogul.
Westfield Selling Partial Stake in 4 Local Malls
Australia-based Westfield Group is selling a 45 percent stake in 12 of its U.S. shopping malls to the Canada Pension Plan Investment Board, including four in San Diego County, in a deal valuing the properties at $4.8 billion.
Operator of County Pension Fund Earns Top Credit Rating
The San Diego County Employees Retirement Association, which operates the pension fund for the county’s 36,000 active, retired and deferred members, recently received an AAA credit rating and stable outlook from Standard & Poor’s Ratings Services, the SDCERA said.
Rating to Aid in Sales of Hurricane-Resistant Doors
LaCantina Doors, a Vista-based designer and manufacturer of folding door systems, recently said it received a DP70 hurricane impact rating from Miami Dade County on its aluminum line of folding doors.
Port Commissioners Affirm Maritime Uses at Terminal Site
Port of San Diego commissioners have approved a measure calling for waterfront property that includes the 10th Avenue Marine Terminal to be developed solely for maritime uses.
Jerome’s Furniture Expanding to San Bernardino County
San Diego-based Jerome’s Furniture plans to open its first San Bernardino County store in April, bringing the family-operated retailer’s total to nine showrooms.
Silvergate Bank Reports Growth in Net Income
Silvergate Bank, which is based in La Jolla and has four branches, reported 2011 net earnings of $3 million, beating last year’s net profit by $4,000, the bank announced Feb. 15.
Cohu’s 4th Quarter Results a Sign of Profits in Decline
Industrial electronics maker Cohu Inc. recently reported net income of $719,000 on net sales of $66.6 million in the fourth quarter of 2011.
Japan Airlines to Launch Nonstop Service From San Diego to Tokyo in December
Japan Airlines announced Feb. 15 that it will launch new nonstop service from Tokyo to San Diego International Airport in December, the first-ever nonstop flights between San Diego and Asia.
Developers Granted Option for Revised Lane Field Project
San Diego port district commissioners have approved granting an option to a development team working on a revised version of the long-planned Lane Field redevelopment in downtown San Diego, including two proposed hotels.
CCDC Chair Denies Permits for Proposed Fat City Lofts Project
The chairman of the Centre City Development Corp., the entity that oversees redevelopment downtown, rejected permits for a proposed Fat City Lofts mixed-use project Feb. 14.
Startup Airline Passes First Certification Phase
California Pacific Airlines, a new startup carrier that plans to begin passenger flights later this year out of Carlsbad, announced Feb. 6 that it has passed Phase I of the Federal Aviation Administration’s certification process.
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