SDBJ WEEKLY EDITION
RETAIL: Appetite For Healthier Foods Spurs Growth of Chain
Sprouts Farmers Market LLC, the natural foods retailer whose origins go back to a fruit stand on El Cajon Boulevard in 1943, filed to go public earlier this month and raise about $300 million.
TECH: Firms Find Ways to Give Workers Secure Access to Data
When Cadence Pharmaceuticals Inc. saw that it was time to retire the laptop computers that its sales force carried, it set foot in the growing world of BYOD.
The Business of Law Column
Pettit Kohn Ingrassia & Lutz, the San Diego Paralegal Association, and the Filipino American Lawyers of San Diego are working together again this year on the Women and Men’s Suit Drive.
BofI Holding Inc., parent of BofI Federal Bank, continues getting larger as it expands its repertoire of loan offerings.
ACCOUNTING: Forensic Accountants Pursue Financial Facts With Variety of Skills
Sifting through mountains of financial records to figure out the net worth of a person may not sound glamorous, but it’s the stuff that gets forensic accountants excited.
FINANCE: Hiring Is Across the Board, Salaries on the Rise
Always in fairly high demand, workers with accounting and finance experience are finding increased job opportunities as companies gradually expand operations, and competition for top talent ratchets up.
CEO Matt Garrett founded TGG Accounting to improve the national small business success rate. Through a set of best practices — known as The TGG Way — his firm provides business owners and their management teams with high quality, timely and accurate financial statements that help them keep their companies in order, make better decisions and sleep better. A national Vistage speaker, Garrett built and sold two startups before he was 35.
BIOTECH: PwC Reports Q1 2013 Drop In Dollars and Deals
Lumena Pharmaceuticals Inc., a San Diego-based manufacturer of liver disease drugs, recently secured $23 million in Series A financing.
MEDICINE: UCSD Surgeons, Firm Develop Corrective Magnetic Rods
Implanted, growing magnetic rods — they sound like something out of a sci-fi movie.
REAL ESTATE: Homes Above $1M Rising, But Still Below 2008 Median
San Diego’s median home prices continued climbing last month with the increases in the luxury category, above $1 million, rising faster than the rest of the market, say housing industry sources.
BEVERAGE: Suja Juice Assembles Right Recipe For Success in the Sector
The rapid growth of San Diego’s Suja Juice Inc. is testament to the trendiness of juicing — tapping raw vegetables and fruits for belly-flushing cleanses.
TECH: FCC Examining Idea of Using Cell Towers for Service
The federal government is taking up a 2-year-old proposal from Qualcomm Inc. to extend broadband Internet service to air travelers, using cell towers.
DEFENSE: Budget Cuts May Change Playing Field, Players
With the U.S. government tightening its grip on its purse strings and defense spending in decline, there are likely to be mergers and acquisitions ahead for military contractors.
MANUFACTURING: Change Made Economic Sense
Fallbrook Technologies, the San Diego-based maker of gearless transmissions, is closing down its headquarters office and relocating to Texas.
TRAVEL: Good Signs Include Line’s Mexico Investment Plans
Local officials say potential future expansion in Mexico by Carnival Cruise Lines could prove crucial to reviving San Diego’s recently sagging cruise ship industry.
Entrepreneurialism is alive and well in the region if if the number of events on the horizon is any indication of a hubbub of activity. Two deadlines are approaching for the seventh annual UC San Diego Entrepreneur Challenge, sponsored by the Rady School of Management.
DEFENSE: Follow-On Project to Be Huge For Winning Bidder
Northrop Grumman recently helped the U.S. Navy launch an unmanned, strike-fighter sized aircraft from the deck of an aircraft carrier, for the first time.
PROPERTY: East Village Transformation to Create Tech, Design Hub
Lowe Enterprises and locally based I.D.E.A. Partners recently moved forward with plans to develop a $90 million mixed-use development in East Village, considered the first element in a long discussed strategy to turn the downtown neighborhood into a job-creating hub for cutting-edge technology and design firms.
Tourism: Iconic Hotel Is Major Tourist Draw
The resident historian at Hotel del Coronado notes that the historic beachfront property — marking its 125th anniversary this year — not only put San Diego on the map as a national tourist destination, but also helped pave the way for the military presence that also drives the local economy.
LEADERSHIP: Analysts Take News in Stride, Shares Rise
Two San Diego public companies, Active Network and Encore Capital Group, replaced their chief executive officers, although one change occurred suddenly and without reason.
Defense: Newest U.S. Navy Squadron Has Local Business Tie
Northrop Grumman is giving the Magicians a new trick. Officials at Naval Air Station North Island recently held ceremonies to inaugurate the Helicopter Maritime Strike Squadron 35, nicknamed the Magicians.
BIOTECH: Funding Allows Firm Flexibility for Development
In rapid succession San Diego’s Ambrx Inc. has received sizable payouts from sizable drug companies, most recently penning a cancer drug development deal with New York-based Bristol-Myers Squibb.
TOURISM: Plan Will Raise Area’s Profile as Tourist Draw
If it can clear some significant long-range hurdles, San Diego can turn its cross-border proximity to the growing city of Tijuana into a boon for the local hospitality industry, tourism and government leaders said at a recent forum in Mission Valley.
Congratulations are in order for one very impressive University of San Diego MBA candidate. Daniel McAllister wins the first-ever All-America Student Analyst Competition, sponsored by Institutional Investor magazine and portfolio tracking software distributor Mark My Media.
HEALTH CARE: Firm Doubles Employment in Its Qualcomm Life Unit
One of the hottest buzzwords of health care reform is the ACO — the accountable care organization. San Diego’s Qualcomm Life, the health sciences subsidiary of telecommunications giant Qualcomm Inc., has made a bold move to enter the ACO space — by acquiring San Diego IT company HealthyCircles Inc.
REAL ESTATE: New Agency Will Address Plans For Redevelopment Needs
San Diego officials in coming weeks will be strategizing on ways to maintain development momentum downtown and elsewhere in the city, without the help of the California redevelopment agency program abolished by the state last year.
San Diego Mayor Bob Filner has signed a letter of intent to relocate a portion of city operations to the downtown office tower at 525 B St., in a move the mayor said will save the city $3 million annually in leasing costs.
HEALTH: Software Fills An Important Need, Reduces Medical Error
Patients are often shuttled from physician to physician, resulting in a quagmire of confusing medical records when they’re generated at different sources. This can lead to medical error, if doctors aren’t given a comprehensive account of a patient’s history at the get-go.
It’s been a busy few weeks for San Diego’s biotechs. Acquisitions, partnership payouts and a number of IPOs are in the works—all signs that the sector, somewhat sluggish post-recession, is picking up its pace.
Real Estate Column
The latest figures from McGraw-Hill Construction show San Diego County 18 percent ahead of a year ago for construction projects in the pipeline.