San Diego Business Journal

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

Governor Park Office Building Sold for $3.9 Million

Locale Advisors Inc. of San Diego has purchased an office building in the city’s Governor Park neighborhood for approximately $3.9 million, according to a statement from the real estate investment firm.

By Lou Hirsh August 26, 2014 4:01 p.m.   Share
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San Diego's Life Sciences Get $167M in VC Funding in Q2

Venture capital funding for the life sciences sector reached $2.5 billion in 195 deals nationally for the second quarter of 2014, according to a new report by MoneyTree and PricewaterhouseCoopers, based on data provided by Thomson Reuters.

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California Economic Activity Index Is Up 0.4% in June

Comerica Bank’s California Economic Activity Index grew in June, advancing 0.4 percent to a level of 113.3.

Opponents of Minimum Wage Hike Begin Referendum Efforts

Opponents of an approved hike in San Diego’s minimum wage have begun circulating petitions to place the matter before voters, following City Council’s recent override of a mayoral veto.

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Fenway Properties Obtains $7.1M Loan for Office Renovation in Oceanside

Investment firm Fenway Properties of San Diego has obtained $7.1 million in financing for a planned renovation of Tri-City Corporate Towers in Oceanside.

Balboa Thrift and Loan Stays on Profitable Path of Car Loans

Balboa Thrift and Loan, based in Chula Vista and one of the last six thrift and loans in the state, just keeps on truckin’, racking up profits despite more competitors in its chosen niche — auto lending.

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San Diego Chargers' Worth Is Put at $995 Million

The value of the San Diego Chargers increased by $46 million or 5 percent over the past year to $995 million, according to the annual Forbes report on the National Football League.

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JMI Equity Closes $1 Billion Fund

JMI Equity, a private equity firm with offices in San Diego and Baltimore, said it closed its largest fund ever this week-— $1 billion for JMI VIII.

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Batu Biologics Completes $100,000 Crowdfunding

A San Diego-based immunotherapy company has successfully completed $100,000 of financing by utilizing an unusual fundraising approach — crowd funding.

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Jamba Juice ‘Hiring Day’ Recruitment Seeks 1,000 New Workers

Emeryville-based Jamba Juice Co. plans to hold a National Hiring Day on Aug. 21, recruiting in several California cities including San Diego as it seeks to add up to 1,000 new employees.

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Sanford-Burnham Medical Research Institute Names Nisen CEO

Sanford-Burnham Medical Research Institute’s board of trustees has appointed Perry Nisen as CEO and holder of the Donald Bren chief executive chair for the institute’s La Jolla-based headquarters.

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Mitek Sees Stock Drop as CTO Leaves, Some Patent Lawsuits Dismissed

Mitek Systems , a San Diego maker of software used by more than 2,500 financial institutions for transferring money via mobile devices, saw its stock plunge 18 percent Aug. 18 following the company’s announcement that its chief technology officer abruptly left the company.

San Diego City Council Overrides Veto of Minimum Wage Hike

San Diego City Council has voted 6-2 to override Mayor Kevin Faulconer’s veto of a measure to raise the city’s minimum wage to $11.50 an hour by 2017.

County Business Forecast Index Drops 8 Points in July

The San Diego Business Forecast, an index measuring the county’s business outlook, showed a dramatic decline in July, falling 8 points from June.

Silvergate Shifts Strategy to Make More Nonqualified Mortgages

Silvergate Bank changed its lending strategy from making qualified mortgages to making nonqualified ones, or those that aren’t bought by the two major government-sponsored entities, Fannie Mae and Freddie Mac.

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.