San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Senior Services Provider Debuting $43 Million Apartment Community

St. Paul’s Senior Services plans a June 2 opening for St. Paul’s Plaza, a new $43 million senior community with 156 apartments in Chula Vista.

BAE Systems San Diego Ship Repair Gets $37 Million Navy Contract

The U.S. Navy awarded BAE Systems San Diego Ship Repair a $37 million deal to perform shipyard work on the Ticonderoga-class cruiser USS Lake Champlain.

Local Survey Finds Water Restrictions Are a Concern for Many Manufacturers

he outlook for San Diego businesses was largely unchanged in April, according to a largely positive forecast from the San Diego Regional Chamber of Commerce, though nearly half of manufacturers polled predicted that impending water usage restrictions would cause them to lose revenue or cut jobs.

The Business Events Calendar for the Week of May 18, 2015

Some of the business events planned in the county for the week of May 18, 2015, and beyond

Software San Diego Names Carroll to Executive Director Post

Software San Diego has chosen a familiar face in regional technology circles to offer day-to-day leadership to the organization.

Rady School of Management Earns High Marks in Ranking By The Economist

The Rady School of Management at University of California, San Diego, has been ranked 1st in San Diego, 2nd in California and 33rd globally for its Executive MBA (EMBA) program by The Economist magazine.

Survey Finds Many Local Manufacturers Expecting Losses From Water Cutbacks

The outlook for San Diego businesses was largely unchanged in April, according to a largely positive forecast from the San Diego Regional Chamber of Commerce, though nearly half of manufacturers polled predicted that impending water usage restrictions would cause them to lose revenue or cut jobs.

Software San Diego Names Kevin Carroll as Its Executive Director

Software San Diego has chosen a familiar face in regional technology circles to offer day-to-day leadership to the organization.

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Sorrento Therapeutics Sells Cancer Drug and Subsidiary

In a deal potentially worth up to $1.3 billion, San Diego’s Sorrento Therapeutics has sold the rights to its proposed cancer treatment Cynviloq, as well as the wholly owned subsidiary that was developing the drug, to Illinois-based NantPharma.

Business Calendar for Week of May 18, 2015

Some of the business events planned in the county for the week of May 18, 2015, and beyond.

Celladon to Cut Staff After Therapy Fails Key Trial

San Diego drug developer Celladon Corp. said it is laying off half of its staff to cut costs after its lead gene therapy to treat heart failure failed a key trial last month.

PICO Holdings Reports Q1 Net Loss of $16.8 Million

PICO Holdings Inc., a diversified holding company based in La Jolla, reported a first quarter net loss of $16.8 million on revenue of $84.7 million. The same quarter last year produced a net loss of $13.2 million on revenue of $61.3 million.

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Carlsbad Office Building Sold for $2.65 Million

Arch Investments LLC has purchased a Carlsbad office building housing Grant General Contractors for $2.65 million, according to brokerage company Marcus & Millichap Inc.

San Diego County Credit Union Reports $6.9B in Assets

San Diego County Credit Union’s total assets grew to $6.9 billion in the quarter ending March 31, a 6 percent increase from the same period last year, the credit union said Thursday in its earnings report.

Cubic Corp. Receives $1.7 Million Contract

Cubic Corp. has a buyer for some of its next-generation military communications gear.

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Wilson Cos. Gets Approvals for $190 Million Arizona Development

Douglas Wilson Cos. of San Diego and Hensel Phelps Development LLC have received city entitlement approvals for a $190 million mixed-use project planned for downtown Tempe, Ariz.

Sanford-Burnham, Eli Lilly Announce Collaboration

San Diego’s research community has attracted a new Big Pharma partner. Sanford-Burnham Medical Research Institute will collaborate with Eli Lilly and Company to develop immunological therapies, the companies announced Thursday.

Jack in the Box Reports Q2 Net Earnings of $23 Million

Jack in the Box Inc., parent company to its namesake quick-service chain and to the Qdoba Mexican Grill chain, reported net earnings of $23.0 million or 60 cents per diluted share on revenue of $358.1 million during the company’s second quarter, ended April 12.

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Local Investment Firm Buys 12 Apartment Properties from Blackstone Group

Strata Equity Group Inc. of San Diego has purchased a 12-property, three-state apartment portfolio from an affiliate of New York-based Blackstone Group, after obtaining approximately $494.8 million in acquisition financing.

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Kearny Mesa Office Campus Sells for $61 Million

Drawbridge Realty LLC of San Francisco has purchased the three-building Spectrum Corporate Center office campus in Kearny Mesa for $61 million, the company announced.