San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

LPL Growth Creates Jobs, Need for Space

Finance: Co. Builds Tower Aimed at Motivating WorkforceLPL Financial LLC’s new 13-story office building in University City is a tangible symbol of the company’s overall growth as well as a strategy to foster its people in San Diego.

By Mike Allen April 4, 2014 12:40 p.m.   $$ Share
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BioMed Subsidiary to Issue $400M in Notes

BioMed Realty LP, an operating partnership subsidiary of San Diego-based BioMed Realty Trust Inc., plans to do a $400 million offering of senior unsecured notes.

San Diego Startup Week Set for June 17-21

StartUp San Diego has set June 17-21 for its second annual San Diego Startup Week.

Genstar Affiliate Buys Chula Vista Residential Land for $37.1 Million

An affiliate of San Diego-based Genstar Development Co., recorded as GDCI Proctor Valley LP, has purchased 1,140 acres of residential land in Chula Vista for approximately $37.1 million, according to CoStar Group and public data.

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San Diego Firm Buys Miramar Retail Center for $12.5 Million

HP Investors LLC of San Diego has purchased Miramar Square Shopping Center, in the city’s Miramar neighborhood, for approximately $12.5 million.

Two San Diego Companies Name New CFOs

Two San Diego companies have announced new chief financial officers.

Mayor Faulconer Sets His Priorities With New Budget

Mayor Kevin Faulconer campaigned to make neighborhoods his priority, and his 2014-15 fiscal year budget, which he released April 14, demonstrates that, according to a mayoral staff report.

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Harrah’s Project Adds 200 to Staff, Additional 80 Jobs Expected

Harrah’s Resort Southern California said it added 200 jobs with the completion of its ambitious construction project, and is up to 1,600 employees at its hotel and casino.

Pratt & Whitney Considers Possible Closure of Kearny Mesa Plant

Pratt & Whitney AeroPower, part of Connecticut’s United Technologies Corp., told its 535 San Diego employees last week that it’s considering integrating the operations into other Pratt & Whitney units, and may close the Kearny Mesa plant.

SBLF Helping Banks Lend More to Small Business, Report Shows

The Treasury Department released another report on its Small Business Lending Fund program showing that participating banks extended about 56,900 additional small business loans, representing about $12.5 billion in dollars above what the banks lent before accepting the federal funds.

BofI Federal to Buy H&R Block Bank

BofI Federal Bank, formerly Bank of Internet USA, said it’s agreed to buy H&R Block’s bank business for an undisclosed price.

Tech and Biotech Stocks Slump

Biotech and tech stocks have been in a slump for the past three weeks, evidenced in part by the 3.1 percent drop in the Nasdaq Composite — the worst one day percentage decline, according to MarketWatch, since November 2011.

Former Exec Pleads Guilty to Bilking Investors, Tax Evasion

Sven Erik Ulsteen, pleaded guilty to using forged and counterfeit securities to fleece more than $2 million from California investors, according to the U.S. Attorney’s Office.

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Qualcomm Boosts Dividend 20 Percent

Semiconductor maker Qualcomm Inc. authorized an increased dividend as its stock flourishes.

Lumena Files for $75 Million IPO

Lumena Pharmaceuticals Inc. has filed for a $75 million initial public offering, just a few weeks after it closed a $45 million Series B financing round.

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Vital Therapies Resets Price of Planned IPO

Vital Therapies Inc. lowered the proposed size of its planned initial public offering, according to Renaissance Capital. Vital Therapies now plans to sell 4.5 million shares at $13 to $15 per share, expecting to raise about $63 million.