San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

County Employees Retirement Association CEO Resigns

Brian White has tendered his resignation as CEO of the Board of Retirement of the San Diego County Employees Retirement Association, effective March 30, the organization announced. White has served as the association’s CEO for 18 years.

San Diego Sports Innovators Becomes Independent Organization

San Diego Sport Innovators (SDSI), a nonprofit business accelerator, announced that it has parted ways with its parent company CONNECT and become a free-standing organization.

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Mission Beach’s Cannonball Restaurant Reopening After $3.5 Million Overhaul

San Diego-based hospitality management company Eat.Drink.Sleep plans an April 1 reopening of its Cannonball restaurant, following a $3.5 million renovation of the building at 3105 Ocean Front Walk in Mission Beach.

Retrophin Announces Plans to Raise $130 Million in Public Offering

San Diego-based Retrophin Inc., a publicly traded biopharmaceutical company, announced that it plans to raise $130 million in a public offering of 6.8 million shares of common stock at $19 per share.

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San Diego Business Park Sells for $4 Million

Rio San Diego LLC has purchased the Mission Gorge Business Park industrial and office property in San Diego for approximately $4 million, according to brokerage firm ECP Commercial.

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Solana Beach Firm Buys 2 Nevada Hotels for $20 Million

Solstar Investments LLC of Solana Beach has acquired the 120-room Marriott SpringHill Suites and 108-room Marriott TownePlace Suites hotels in Henderson, Nev., for a total of $20 million, according to Nevada public records.

Otonomy Reports Q4 Net Loss of $9.8 Million

Otonomy Inc., a company that makes treatments for the middle and inner ear, announced its fourth quarter financial results on March 19, reporting a net loss of $9.8 million compared with a net loss of $7.8 million in the same quarter of the previous year.

Three Kratos-Powered Drones Participate in Test

Three target drones with rocket motors from Kratos Defense & Security Solutions Inc. took part in an Aegis Ballistic Missile Defense weapon system test in late February, the company said on March 16.

Novatel's COO Taking 30 Percent of Base Salary in Stock

Novatel Wireless’ chief operating officer has started taking 30 percent of his 2015 base salary in stock, the company said on March 18.

San Diego Firms Buy Arizona Hotels for $8.65 Million

Hospitality management and consulting firm R.A. Rauch & Associates Inc. and investment firm PacVentures Inc., both of San Diego, recently acquired two Arizona hotel properties for a total of $8.65 million, the companies announced.

Community Leaders Invited to School’s Women’s Symposium

The Academy of Our Lady of Peace, San Diego’s a Catholic college-preparatory girls’ high school, will host its inaugural Women’s Symposium, the school announced.

Pediatric Bioscience Raises $1.68 Million in Debt Financing

San Diego-based Pediatric Bioscience Inc., the biotech developing blood tests for autism, has raised $1.68 million in debt financing, according to a recently amended regulatory filing.

Matthew Posard Joins Executive Team at Trovagene

Trovagene Inc., a developer of cell-free molecular diagnostics, announced Wednesday that Matthew L. Posard has joined the company as executive vice president and chief commercial officer.

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Carlsbad Firm Buys Two Local Retail Centers for $10.8 Million

Investment firm Capstone Advisors has purchased retail centers in San Diego and Poway in separate transactions for a total of $10.8 million, the Carlsbad-based company announced.

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Mission Valley Hilton Completes $12 Million Renovation

Operators recently completed a $12 million renovation of the Hilton San Diego Mission Valley hotel, with a new outdoor event deck and pool area expected to open this spring.

S.D. Population Expected to Exceed 4 Million by 2060

Statistics from Sacramento’s bean counters offer an estimate of how big a market San Diego will become over the next 50 years.

NASA Satellite Carried Vanguard Solar Technologies

Vanguard Space Technologies Inc. said on March 16 that it provided the solar array substrates and electromagnetically clean shielding for NASA’s MMS satellite that launched on March 12. Financial terms of the project were not disclosed.

SDG&E to Distribute $1M to Nonprofits

San Diego Gas & Electric kicked off its annual Environmental Champions initiative, a $1 million charitable giving campaign that funds local environmental nonprofits in San Diego and southern Orange counties, the company said.

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Coco’s, Carrows Restaurant Operator Getting New Owner

Carlsbad-based Catalina Restaurant Group Inc., which operates 149 Coco’s Bakery and Carrows restaurants in three states, has been sold to an affiliate of Texas-headquartered Food Management Partners (FMP) for an undisclosed price.

CFO Kevin Royal Leaving Maxwell Technologies

Maxwell Technologies Inc., a local energy storage and power delivery manufacturer, announced that Senior Vice President and Chief Financial Officer Kevin S. Royal will step down from his position during 2015.