San Diego Business Journal


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Mark Riedy to Retire as Director of USD’s Burnham-Moores Center

Mark Riedy has announced his retirement as executive director of the Burnham-Moores Center for Real Estate at University of San Diego, with plans to leave the position in January.

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Kashi Returning to San Diego

With news of some San Diego companies moving to other states, it’s refreshing to report that one that left is returning.

Business Calendar for Week of August 18, 2014.

Some of the business events scheduled for the week of Aug. 18, 2014 in the county.

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SeaWorld Doubling Size of Orca Enclosure at San Diego Park

Florida-based SeaWorld Entertainment Inc. plans to nearly double the size of the killer whale enclosure at SeaWorld San Diego, part of a multimillion-dollar effort to address controversies and resulting business damage tied to concerns over its treatment of performing orcas.

County Unemployment Rate Increases to 6.6% in July

San Diego’s unemployment rate increased to 6.6 percent in July, up from a revised 6.1 percent in June, as the region shed nearly 6,000 jobs, mostly from school employees taking a summer recess, according to the state’s Employment Development Department.

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City Council to Consider Override of Veto of Minimum Wage Hike Aug. 18

The San Diego City Council will consider overriding the veto by Mayor Kevin Faulconer of the ordinance to boost the minimum wage to $11.50 by 2017 and extend sick leave benefits to employees during a meeting scheduled for Aug. 18 at 11 a.m, according to the council.

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Ligand Signs Licensing Agreement With Georgia Company

Ligand Pharmaceuticals Inc. announced the signing of a commercial license agreement with Atlanta, Georgia-based Avion Pharmaceuticals LLC for the development and commercialization of four Captisol-enabled programs

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Renovation Realty to Expand to Bay Area

Renovation Realty, a San Diego company that renovates houses and then sells them without the owners paying up front construction costs, said it’s expanding to the Bay Area.

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ViaSat Reports FY2015 First Quarter Revenue of $319.5M

ViaSat Inc. reported a net loss of $5.9 million on revenue of $319.5 million during the quarter that ended July 4, its first quarter of fiscal 2015.

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Infosonics Corp. Reports Net Sales Increase 25% in Q2

Infosonics Corp., the San Diego maker and distributor of wireless devices mainly in South America, reported second quarter net sales of $10.4 million, up 25 percent from the like quarter of 2013. For the six months, sales were $22.1 million, up 37 percent from the comparable period of the prior year.

Thermo Fisher Gets $9.1M Defense Deal, Work to Be Done in San Diego

The Defense Department said on Aug. 14 that it awarded a $9.1 million contract modification to Thermo Fisher Scientific to acquire reagents and consumables for its DNA Identification Laboratory at the Armed Forces Medical Examiners System at Dover Air Force Base in Delaware.

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Rita’s Italian Ice Joining Menu at Petco Park

Rita’s GP LLC, the San Diego-based area franchise developer for Rita’s Italian Ice, has reached an agreement with ballpark operators to begin selling the company’s ices and custards at Petco Park starting in late August.

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Iron Fist Brewing, Mariscos Coming to Mercado Del Barrio

Vista-based Iron Fist Brewing Co. and San Diego seafood restaurant Mariscos El Pulpo have joined the roster of commercial offerings at Mercado Del Barrio, a mixed-use development in Barrio Logan.

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Shares Rise After Otonomy's $100M IPO

Shares of Otonomy Inc. were rising Aug. 13 after the biotech drug developer's initial public offering raised $100 million.

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RCS Capital to Buy Girard Securities

RCS Capital Corp. said it has entered into an agreement to purchase independent broker-dealer San Diego-based Girard Securities Inc.

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SeaWorld Entertainment Gives Q2 Results, Plans Cost-Saving Initiatives

The parent company of SeaWorld San Diego plans to invest savings in new attractions.

City Pension Fund Reports Preliminary Return of 16.6%

The San Diego City Employees Retirement System, the pension fund for employees of the city of San Diego, the Port of San Diego, and the San Diego County Regional Airport Authority, reported a preliminary return of 16.6 percent, net of fees, for the 2014 fiscal year ended June 30.

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Carlsbad Industrial Building Sells for $16.35 Million

Regent Properties of Los Angeles has acquired the Research Center Pointe industrial building in Carlsbad for $16.35 million, according to brokerage company Cassidy Turley, which represented the buyer and seller.

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California Bank & Trust Reports Q2 Results

California Bank & Trust, San Diego’s largest locally-based lender with $11 billion in total assets, reported second quarter net income of $29.1 million, compared with net income of $31 million for the like quarter of 2013.

County Median House Price for July Is $445,000, According to Dataquick

The median price for a single family house sold in San Diego during July was $445,000, down by $5,000 from the June median, but up 6.6 percent from July 2013, according to Dataquick, the San Diego based real estate research firm.