San Diego Business Journal

Local Lenders Making More – But Smaller – SBA Loans in 2014

Although San Diego lenders are generally making more loans backed by the U.S. Small Business Administration, loan amounts have declined for most of this fiscal year, according to the latest report from the SBA’s San Diego district office.

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Co. Sees Need to View the Digital World Through a New Lens

Optical: It Precisely Incorporates Close-Up And Distance Vision

There’s a new affliction out there, the product of so many people constantly checking their smartphones and other digital devices.

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Co. Sees Need to View the Digital World Through a New Lens

Optical: It Precisely Incorporates Close-Up And Distance Vision

There’s a new affliction out there, the product of so many people constantly checking their smartphones and other digital devices.

Firm’s Data in Demand With Big Financial Cos.

FINANCE: BrightScope’s Growth in Revenue, Clients Leads To Increase in Hiring

BrightScope, a San Diego startup that began rating company 401(k) plans, is still rating those plans and financial advisers, but it is now making more money from all the data it’s collected, and signing up bigger clients.

All Jobs at Former Nokia S.D. Office to Be Cut

Tech: Microsoft Expects To Eliminate All Local Positions by mid-September

Microsoft Corp. plans to permanently eliminate all 378 positions at the former Nokia office in Rancho Bernardo before this fall as part of the company’s announced global restructuring affecting 18,000 workers.

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Recovery In Their Sites

Economy: Construction Jobs Rise as Projects Get Going

Work at Kaiser Permanente’s new hospital in Kearny Mesa is going smoothly — so well that the expected completion of the $900 million project was moved up several months to March 2016. And that progress is reflected in the construction employment levels on the site.

Boston Marathon Winner Named VP of Running for Competitor Group

Competitor Group Inc., the San Diego based media and event business that organizes the Rock 'n' Roll Marathon Series, said it named Meb Keflezighi as the first vice president of running.

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DJO Global Reports Q2 Results

DJO Global Inc., the Vista-based maker of orthopedic devices, reporter second quarter net sales of $313.9 million, up 6.5 percent from the like quarter of 2013.

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Qualcomm to Invest Up to $150 Million in Chinese Startups

Qualcomm Inc., which just reported net earnings of $2.24 billion for its third quarter July 23, said it will invest up to $150 million in Chinese startup companies across all stages.

San Diego Private Bank Reports Q2 Results

San Diego Private Bank reported second quarter net income of $594,000, up from $253,000 for the like quarter of 2013 when the results were affected by the bank’s merger with Coronado First Bank.

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Dealstruck Fills Leadership Positions

Dealstruck, a San Diego online business that matches borrowers with investors who advance cash, said it hired three key executive to move the company forward.

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Shed Some 'Paper Weight' at Document Shredding Event

Folks who get off on breaking records certified by Guinness may want to attend what’s billed as a Super Shred Event sponsored by San Diego County Credit Union.

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Peregrine and RFMD Settle Litigation

Peregrine Semiconductor Corp., a San Diego maker of radio frequency computer chips, said it’s settled all outstanding claims with RF Micro Devices Inc. of North Carolina relating to lawsuits it filed against RFMD in 2012 and 2013.

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Chargers Invite Fans to First of 10 Open Practices on July 24

The San Diego Chargers host opening day of their 2014 training camp Thursday, July 24 at Charger Park in Kearny Mesa, starting at 9:30 a.m., marking the first of 10 practices open to the public.

Former Qualcomm Executive Pleads Guilty to Insider Trading

Sentencing of Jing Yang set for November.

County Employees Retirement Fund's Recent Fiscal Year Return tops 13 Percent

The San Diego County Employees Retirement Association's fund is at a record $10.1 billion.

CHW Launches Online Financial Counseling for Hopeful Low- and Moderate-Income Homebuyers

The service, called E-asy Account, uses real-time consumer data to help clients set realistic financial goals.

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Microsoft Layoffs to Cut 378 Locally

Microsoft Corp. said it’s embarked on a restructuring that will cut 18,000 people over the next year, including 378 based at its Rancho Bernardo office that once belonged to Nokia, which Microsoft acquired in April for $7.5 billion.

San Diego Opera Reaches Settlement With Former Director

Ian Campbell and ex-wife Ann Spira Campbell have settled with the San Diego Opera on an undisclosed amount owed to them through 2017, the organization said.

County's June Unemployment Rate Climbs to 6.1%

San Diego’s unemployment rate increased to 6.1 percent in June, up from May’s 5.8 percent despite the area adding a net of 9,700 jobs to county payrolls.

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Tealium Reports a Doubling of Its Organic Sales

Tealium, a San Diego based maker of software that helps companies with online marketing, said its organic sales doubled over the past 12 months

Opera Reaches Settlement With Former Director

Ian Campbell and ex-wife Ann Spira Campbell have settled with the San Diego Opera on an undisclosed amount owed to them through 2017, the organization said.

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Microsoft to Layoff 378 Locally

Microsoft Corp. said it’s embarked on a restructuring that will cut 18,000 people over the next year, including 378 based at its Rancho Bernardo office that once belonged to Nokia, which Microsoft acquired in April for $7.5 billion.

Seacoast Commerce’s Quarterly Profit Doubles from 2Q 2013

Seacoast Commerce Bank was the area’s first community bank to deliver its second-quarter results, and it set the bar fairly high. For the quarter ended June 30, Seacoast Commerce, now in its 11th year and headquartered in Rancho Bernardo, reported net income of $501,000, or double what it did in profit for the same quarter of 2013.

Local Unemployment Rate Increases to 6.1% for June

San Diego’s unemployment rate increased to 6.1 percent in June, up from May’s 5.8 percent despite the area adding a net of 9,700 jobs to county payrolls.

County Retirees’ Group Cedes All Investment Decision-Making

Finance: Salient Praised For Better Returns; Board Extends Contract to 2019

The county’s employee pension fund, which exceeds $10 billion as of June, is now totally controlled by its outside chief investment officer, Salient Partners of Houston.

As Economic Engine Revs Up, Car Buying Increases in County

AUTO: 2014 New Vehicle Sales Forecast Near 150,000

New car sales, a key bellwether for the health of the economy, continued rising this year in San Diego and were on track to break last year’s record number of about 140,000, according to the New Car Dealers Association of San Diego County.

New Mortgage Regulations Open Door for Niche Software Co.

Finance: It Helps Brokers, Lenders With Fee Disclosure

Sometimes increased government regulation is a good thing.

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Tealium Reports Its Organic Sales Doubled

Tealium, a San Diego based maker of software that helps companies with online marketing, said its organic sales doubled over the past 12 months to this June, and grew about 60 percent from the first quarter.

San Diego City Employees Retirement System Expects Return to Top Previous Year's 13.6%

The San Diego City Employees Retirement System, serving about 20,000 members mainly workers at the city of San Diego, said its total assets as of June 30 passed $7 billion and that its preliminary return for the fiscal year ended in June will exceed the 13.6 percent return it had in the prior fiscal year.

Seacoast Commerce Reports Q2 Results

Seacoast Commerce Bank, based in Rancho Bernardo and with three branches, reported second quarter net income of $501,000, double the figure for the like quarter of 2013.

Treasurer Looks to Unite Property Taxpayers and Refunds

San Diego Treasurer-Tax Collector Dan McAllister announced that his office is holding about $409,000 in nearly 1,800 accounts that he’s trying to return to folks who may have overpaid on their property taxes or have refunds coming to them.

Health Issues Said to Be Behind Executive’s Leave of Absence, Resignation

Ralph Whitworth, co-founder of San Diego-based Relational Investors, an activist money management firm, has taken a leave of absence from the firm and resigned as interim chairman of Hewlett-Packard Co. to focus on his health, Relational said.

Local Median Home Price Up 8% for the Year in June

The median price on house sold last month in San Diego was $450,000, up 2.3 percent from May, and up 8 percent from June 2013, according to Dataquick, the San Diego real estate research firm.

Omega Group Acquired by Trimble

The Omega Group, a San Diego-based provider of cloud based performance support software aimed at helping public safety agencies optimize patrol strategies, was acquired by a division of Trimble Inc., a Sunnyvale software business that has about $2 billion in annual revenue.

Event to Encourage Women-Owned Businesses to Seek Federal Contracts

The San Diego ChallengeHER event on Wednesday July 16 from 9 a.m. to noon is aimed at educating female entrepreneurs about the Women-Owned Small Business Federal Contract Program, and to bring more women-owned businesses into the federal government’s supply chain, according to an announcement from the U.S. Small Business Administration, which is co-sponsoring the event.

PriceSmart Reports Q3 Results

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, reported third quarter revenue of $615 million, up from $571.7 million for the like quarter of 2013.

Low-Tech Fizzles, High-Tech Sizzles in Hot Careers Report

Those seeking decent employment in San Diego should probably focus on high-tech, according to a report on Hot Careers 2014 from UC San Diego’s Extension.

High-Tech Sizzles in Hot Career Paths Report

Those seeking decent employment in San Diego should probably focus on high tech, according to a report on Hot Careers 2014 from UC San Diego’s Extension. The sixth annual report found that nine of the 10 careers that made the list are technology and business-oriented. Only elementary school teachers were outside those categories.

Credit Unions Targeting Efforts at Capturing the Gen Y Market

Gen Y consumers, those in their 20s and 30s, are being courted by everyone, including credit unions, which say they’re making significant inroads to capturing a large portion of the market.

Opera Sees Need to Reinvent, Reinvigorate Itself

ARTS: More Community Outreach, Additions to Leadership Part of Plan

The San Diego Opera continued to revamp operations — as it strives for more community outreach — and its leadership in the wake of recent restructuring that cut 13 positions from the arts group that was once designated for closure.

PriceSmart Reports Q3 Net Income of $21.3M

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, reported third quarter revenue of $615 million, up from $571.7 million for the like quarter of 2013.

RV Park Plan Driven Away By Port Delays

PROPERTY: Car Shipping Biz Proposes Rail Line at Site

The developer of a proposed RV park next to the National City Marine Terminal notified the Port of San Diego it is no longer interested in pursuing the project.

Local Biotech Diagnostics Co. Signs Agreement With Big PPO

San Diego-based bioTheranostics Inc., a provider of genomic cancer diagnostic solutions, said it signed a contract with FedMed Inc., based in Maryland and one of the largest preferred provider organizations in the nation.

Homeowners Now Can Take Advantage of Clean-Energy Loan Program

San Diego homeowners seeking help on financing improvements to reduce energy and water usage can access a new loan program called PACE for property assessed clean energy.

San Diego Is in the Race for America’s Cup 2017

San Diego may have lost out on the chance to host the 2024 Summer Olympic Games, but it has made it to the final two contenders to host the 2017 America’s Cup, say several published reports.

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Paul McCartney to Deliver the Hits at Petco

Petco Park will host a concert by Sir Paul McCartney, half of the surviving Beatles, on Sept. 28 as part of his Out There tour, the San Diego Padres announced.

County Median Price for House in June is $525,000

The median price for single family houses sold in San Diego last month rose 5 percent from May to $525,000, while the median price for condos sold here last month was unchanged at $334,500, according to the Greater San Diego Association of Realtors.

Eco Building Products to Establish Joint Venture With Canadian Co.

Eco Building Products Inc., a Vista maker of treated wood products that protect against fire and mold, said it entered into a letter of intent to establish a joint venture with Steelhead Structures, based in Canada.

Borrego Breaks Ground on Solar Project

Borrego Solar Systems Inc., a San Diego designer, financier and installer of solar systems, said it broke ground on the Seneca Solar Projects, an 8.3 megawatt system in Victorville.

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