SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
Bankers Talk Innovation
With this issue of the San Diego Business Journal focusing on the technological evolution in banking, we asked the top executives of the region’s largest locally based and non-locally based banks to answer three questions about their banks and technology innovation.
November 14, 2011 midnight $$ ShareNew York Company Acquiring Brokerage Firm Grubb & Ellis
BGC Partners Inc. is acquiring Grubb & Ellis Co., a commercial brokerage firm that has San Diego County operations at University Towne Center.
Marshall Edwards Looks to Raise $8M for Cancer Drugs
Marshall Edwards Inc. said Feb. 21 that it will seek to raise $8 million from existing stockholders to further develop its two lead cancer-drug candidates.
Optimism Rising Among Small-Business Owners
Wells Fargo Bank says America’s small-business owners are the most optimistic they’ve been since July 2008, before the recession took hold, according to the bank’s most recent index survey it does with Gallup.
Leap Wireless Reports Decline in Net Loss, Rise in Revenue
Leap Wireless International Inc., a spinoff public company from Qualcomm Inc. that sells advanced, flat-rate pay cellphone services, reported Feb. 16 a fourth-quarter net loss of $84.4 million, compared with a net loss of $249.4 million for the like quarter of 2010.
Cardium Therapeutics Gets $5M Boost From Stock Sale
Cardium Therapeutics Inc. said Feb. 16 that it raised $5 million in gross proceeds through a direct sale of nearly 18 million shares of its common stock.
Operator of County Pension Fund Earns Top Credit Rating
The San Diego County Employees Retirement Association, which operates the pension fund for the county’s 36,000 active, retired and deferred members, recently received an AAA credit rating and stable outlook from Standard & Poor’s Ratings Services, the SDCERA said.
Cost-Cutting Comes With Benefits for the Community
FINANCE: Finding Ways to Save Creates Opportunity to Give
George Brooks-Gonyer calls it “donor fatigue.” It’s a problem that nonprofit organizations face in the current financial climate, and it’s getting worse, said Brooks-Gonyer, a onetime chief financial officer for the San Diego Natural History Museum in Balboa Park.
Two Local Banks Post Higher Earnings for 2011
BANKING: Cal Bank & Trust, Regents Report Decline in Problem Assets
Two local banks recently reported improved financial results for 2011, citing a reduction in the amount of reserves they had to put aside to cover loan losses as problem assets declined.
Investors Bet on Bioprinting as the Next Big Thing in Medicine
SCIENCE: Organovo Raises Funds to Advance Novel Tissue Technology
Backers stepped up and invested $6.5 million in Organovo Inc.
Irwin Jacobs Stresses Business Need for Strong Cultural Climate
WORKFORCE: Qualcomm Co-Founder Also Calls For Improving Education
Qualcomm Inc. co-founder Irwin Jacobs has spoken out in support of a push by local biotech company CEO Philip Low to get mayoral candidates to present proposals for improving San Diego’s entrepreneurial climate.
Silvergate Bank Reports Growth in Net Income
Silvergate Bank, which is based in La Jolla and has four branches, reported 2011 net earnings of $3 million, beating last year’s net profit by $4,000, the bank announced Feb. 15.
Cohu’s 4th Quarter Results a Sign of Profits in Decline
Industrial electronics maker Cohu Inc. recently reported net income of $719,000 on net sales of $66.6 million in the fourth quarter of 2011.
Report: Life Sciences Venture Capital Soars 45 Percent in Q4
Companies in San Diego’s biotechnology and medical device industries continued to receive the largest share of local venture capital during the fourth quarter of 2011, according to PricewaterhouseCoopers MoneyTree Survey, conducted in partnership with the National Venture Capital Association.
Halozyme Seeks to Raise $83M in Stock Offering
Halozyme Therapeutics Inc., the San Diego-based developer of enzyme drugs, said Feb. 10 that it’s seeking to raise a total of $83 million through a pubic stock offering.
Encore Capital Reports Surge in Gross Collections, Profits
Encore Capital Group, a San Diego-based purchaser and collector of charged off credit cards, reported Feb. 9 fourth-quarter gross collections of $185.9 million, up 25 percent from the prior year fourth-quarter results.
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