San Diego Business Journal


Port Approves Severance Agreement, Mutual Release for Controversial CEO

Wayne Darbeau is leaving his job as CEO of the Port of San Diego following a controversy.

Fitch Assigns ‘AAA’ Rating to Regional Transportation Sales Tax Revenue Bonds

Fitch Ratings has assigned an ‘AAA’ rating to the San Diego County Regional Transportation Commission’s $350 million sales tax revenue bonds, 2014 series A.

Cypher Genomics Teams With Illumina, Names President and COO

San Diego-based Cypher Genomics Inc. announced a co-promotion agreement with Illumina Inc. and the selection of Adam Simpson as president and chief operating officer.

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BioMed Realty Signs Tenant Bristol-Myers to Additional Space and Lease Extension

Bristol-Myers Squibb has signed a 10-year lease with San Diego-based BioMed Realty Trust Inc. for about 61,000 square feet of additional laboratory and office space at BioMed’s Woodside Technology Park, a life science industry campus in Redwood City.

Boston Marathon Winner Named VP of Running for Competitor Group

Competitor Group Inc., the San Diego based media and event business that organizes the Rock 'n' Roll Marathon Series, said it named Meb Keflezighi as the first vice president of running.

Business Calendar for Week of July 28, 2014

Some of the business events scheduled in the county for the week of July 28, 2014.

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DJO Global Reports Q2 Results

DJO Global Inc., the Vista-based maker of orthopedic devices, reporter second quarter net sales of $313.9 million, up 6.5 percent from the like quarter of 2013.

Port Meeting to Consider Possible Discipline, Termination of CEO

The San Diego Unified Port District Board of Port Commissioners has set a special meeting to consider disciplining or possibly terminating CEO Wayne Darbeau, according to port documents.

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Comic-Con Underway, With Ad Support from Downtown Buildings

With the 45th annual Comic-Con International now underway, the area around San Diego Convention Center has again assumed its role as a global Billboard Central for the major film studios, TV networks and video-game makers touting their wares this year.

Pfenex Raises $50 Million in IPO

Pfenex Inc., a Sorrento Valley biotech firm specializing in a class of drugs called biosimilars, raised $50 million in its initial public offering July 23, selling 8.33 million shares at $6 per share.

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Qualcomm to Invest Up to $150 Million in Chinese Startups

Qualcomm Inc., which just reported net earnings of $2.24 billion for its third quarter July 23, said it will invest up to $150 million in Chinese startup companies across all stages.

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Realty Income Reports Gains in Revenue, Income for Second Quarter

Escondido-based Realty Income Corp. saw revenue rise 22.6 percent from a year ago in its second quarter ending June 30, reaching $228.6 million.

Tickets Available for Best Places to Work Awards

San Diego boasts ideal weather and ideal living. A great environment can also be found at many of San Diego’s workplaces. The San Diego Business Journal is recognizing organizations that have committed to supporting their employees in every aspect of day-to-day business with the Best Places to Work Awards event.

San Diego Private Bank Reports Q2 Results

San Diego Private Bank reported second quarter net income of $594,000, up from $253,000 for the like quarter of 2013 when the results were affected by the bank’s merger with Coronado First Bank.

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Cubic Defense Contract Is Potentially Worth $500 Million

The Pentagon said on July 23 that the Defense Threat Reduction Agency awarded Cubic Corp. a contract that could be worth up to $500 million over 10 years.

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Qualcomm Reports Record Revenue

Qualcomm Inc. reported net income of $2.24 billion on revenue of $6.81 billion during its third quarter, which ended June 29.

La Jolla Pharmaceutical Prices Stock Offering

La Jolla Pharmaceutical Co., a developer of therapeutics targeting unmet life-threatening diseases, announced a price of $10.50 per share for a planned underwritten stock offering of 4.8 million shares of common stock.

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Illumina Reports Q2 Results

Illumina Inc. reported revenue of $448 million for the second quarter ending June 29.

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Dealstruck Fills Leadership Positions

Dealstruck, a San Diego online business that matches borrowers with investors who advance cash, said it hired three key executive to move the company forward.

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National City Apartment Building Sells for $9.8 Million

M&L Financial Co. XXXI of Newhall has purchased the 151-unit Golden Paradise senior apartment building in National City for $9.8 million, according to CoStar Group and public data.