SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...41 Rancho Santa Fe Home Lots Sell for $10.2M
California West Ventures II LLC, which includes Carlsbad-based homebuilder California West Communities, has purchased 41 residential lots in Rancho Santa Fe, for $10.25 million.
Partnership Buys Two UTC Buildings for $25.6M
A partnership that includes Greenlaw Partners of Newport Beach and Chicago-based Walton Street Capital LLC has purchased two office buildings at University Towne Center for a total of $25.65 million, according to CoStar Group.
Care Act Changes Field For Staffing Companies
WORKFORCE: More Demand, New Regulations Are on the Way
Many businesses are approaching staffing agencies to hedge against the uncertainties associated with the Affordable Care Act, said Gary van Eik, CEO of San Diego-based TriStaff Group.
SBA Proposes Easier Loan Process for Borrowers
FINANCE: Aim Is To Reduce Paperwork And Simplify Process
Believe it or not, there’s a federal government agency that’s actively trying to cut red tape—the U.S. Small Business Administration. The agency announced a series of proposed changes to the loan application process aimed at making it quicker, less paper intensive, and more efficient.
Zable Heirs’ Plans to Sell Some Cubic Stock Seen as Tax Move
FINANCE: SEC Filing Comes at a Time When Taxes Are Coming Due
The heirs of the late Cubic Corp. founder Walter J. Zable plan to sell about $125 million in Cubic stock to satisfy the tax liability caused by the transfer of Zable’s assets, the company said.
SDCCU Continues Its ‘Progress in Performance and Growth’
Fiance Column
San Diego County Credit Union, the area’s largest with about $5.8 billion in assets, reported increased loans and profits, and decreased delinquencies for 2012.
Company Comes Through With a Big Check for the Cure
Kudos/Giving Column
Plaza Home Mortgage Inc. raised more than $99,000 during the company’s campaign to support breast cancer prevention and research. The funds will be donated to Susan G. Komen for the Cure. The company pledged to make a donation for every home loan closed from October production, raising a total of $99,472.37.
Retirement Plans Shine Under Brightscope Ratings
Brightscope, the San Diego financial research firm, released its top 25 companies list for best 401(k) plans in the financial and insurance industries.
Sempra Energy Reports Earnings of $859M in 2012
Sempra Energy recently reported 2012 results, saying it achieved earnings of $859 million, or $3.48 per diluted share, on revenue of $9.65 billion.
Downtown Retail Property Market Continues Recovery
Downtown San Diego’s retail real estate continued its post-recession recovery in 2012, registering single-digit vacancy for the first time since 2008, according to a new report by the brokerage firm Cushman & Wakefield.
Tourism Marketing District Files Lawsuit Against City Over Contract
The corporation that oversees San Diego’s Tourism Marketing District has filed a lawsuit in Superior Court, seeking to compel Mayor Bob Filner to sign a contract renewing and activating the district for 39.5 years.
Spring Valley Apartments Sell for $18.8M
The 128-unit Oakbrook Ridge Apartments in Spring Valley has been sold for $18.8 million, according to Cushman & Wakefield, which facilitated the transaction.
Illumina Completes Acquisition of Verinata Health
San Diego’s Illumina Inc. announced that it has completed its acquisition of Verinata Health Inc., a Redwood City-based company that develops noninvasive tests for the early identification of fetal abnormalities such as Down syndrome.
Possible Sequestration Cuts Could Hit Region Hard
San Diego could stand to be a big loser should Congress fail to come to some agreement on a planned slew of automatic budget cuts taking effect March 1.
La Jolla Properties Sold for $8.5M
A local investor has purchased a portfolio of retail and office properties in La Jolla for $8.5 million.
