San Diego Business Journal


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

SmartDrive Systems Raises $50 Million in Venture Funding

SmartDrive Systems said on March 30 that it raised $50 million of additional venture funding.

By Brad Graves March 31, 2015 3:08 p.m.   Share

California Economic Activity Index Dips Slightly in March

Comerica Bank’s California Economic Activity Index declined in March, decreasing 0.6 of a percentage point to a level of 118.8, Comerica said.

Foreclosure Rate Dips Slightly in March

San Diego foreclosure rates fell one-tenth of a percentage point in March compared to last year, with 0.42 percent of outstanding mortgage loans foreclosing, according to CoreLogic.

IBM VP Joins Grant Thornton's San Diego Office

Chicago-based tax and advisory firm Grant Thornton LLP said Tuesday it was adding a former IBM vice president to its San Diego office as a principal in its advisory practice.

County Unemployment Rate Drops to 4.8%

San Diego’s unemployment rate fell to 4.8 percent in April, the lowest since December 2007, according to California Employment Development Department figures released on April 22, below the California unemployment rate of 6.3 percent and the national rate of 5.1 percent.

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Company Buys Pieces Of Home Equity Pie

FINANCE: Appreciation Is Determining Factor in Profits

Homeowners with most of their equity tied up in their house often turn to home equity lines of credit or reverse mortgages to get cash for retirement, start new businesses or do expensive renovations.

Visa Cap May Blunt Competitive Edge

WORKFORCE: Critics Say Program Undercuts Citizens

The growing demand for highly skilled foreign workers in biotech and information technology is rekindling debate about the motivation driving companies to hire foreign talent.

San Diego County Employee Retirement Association Names Sexauer to Chief Investment Officer Role

The San Diego County Employee Retirement Association, which oversees a $10.6 billion pension fund for about 40,000 members, said May 21 it was appointing a chief investment officer to take over from Salient Partners, the group’s current portfolio manager.

Cidara Therapeutics Reports Q1 Results

Cidara Therapeutics Inc. reported May 21 a net loss of $6.7 million for the first quarter of 2015, up from a net loss of $707,000 in the same quarter of last year.

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Mission Fed CEO Debra Schwartz to Serve Additional Term on Board of National Association of Federal Credit Unions

Mission Federal Credit Union CEO Debra Schwartz will serve an additional three-year term on the board of directors for the national credit union trade group, the association said.

San Diego County Credit Unions Report $9.65B in Loans

San Diego County credit unions reported a collective $9.65 billion worth of loans, a 20 percent jump between April 2014 and March 2015, according to a new survey from the California Credit Union League.

Sevion Therapeutics Raises $3.02 Million in Equity Financing

Sevion Therapeutics Inc., a biopharmaceutical company developing therapies for cancer and immunological diseases, has raised $3.02 million in equity financing according to a recent statement filed with the Securities and Exchange Commission.

Small Business Adds Up for Outsourcing Accounting Firms

FINANCE: Local Cos. On Big Growth Curve With Financial Services

As recently as 10 years ago, few companies would give much thought to entrusting their financial services to an outsider.

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Knowledge-Based Economy

FINANCE: Companies Turn to Consulting Firms For the Expertise Needed to Expand and Thrive

As San Diego businesses reach for international markets, roll out new product lines or get ready to be sold, the accounting management consulting firms that cater to them are experiencing healthy revenues and looking to expand.

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Executive Q&A: Kurt Chilcott of CDC Small Business Finance

When Kurt Chilcott thinks about Stone Brewing, he remembers the loan he helped the craft brewer get from the Small Business Administration to create a production facility and restaurant in Escondido.

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.