San Diego Business Journal

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Fan Appreciation

SPORTs Biz: Padres Improve Petco’s Roster Of Amenities, Options

Upgrades this year to Petco Park, home to the San Diego Padres and seemingly always getting tweaked in places, may be the most extensive in the ballpark’s history — all geared toward making the experience in the stands a more enjoyable complement to the action on the field.

The Financial Curtain Falls on the San Diego Opera

In a move that surprised many, the San Diego Opera announced it will cease operations after this season ends on April 14.

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Vince Mudd Elected President of Local Bowl Games

Vince Mudd, chief operating officer at Carrier Johnson + Culture, was elected president of the 2014 National University Holiday Bowl and the San Diego County Credit Union Poinsettia Bowl by the bowl association’s board of directors.

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Sempra Partners with Division of Con Edison for 5 Solar Projects

Sempra U.S. Gas & Power, a division of San Diego-based Sempra Energy, said it’s agreed to a partnership in five solar projects in California and Nevada with Consolidated Edison Development, a division of Con Edison Inc., based in New York and one of the largest energy companies in the world.

ImageWare Systems Reports Yearly Revenue of $5.3M

ImageWare Systems, a San Diego maker of identity management software, reported 2013 fourth quarter sales of $929,000, up by $3,000 from the like quarter of 2012.

Wells Fargo & Co. Gives $459,000 in Grants to Local Groups

Wells Fargo & Co., the nation’s largest mortgage lender, announced the awarding of grants to two San Diego nonprofits: Community Housing Works, a nonprofit focused on housing issues, for nearly $164,000; and National Community Renaissance, another nonprofit, for almost $295,000.

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Lytx Makes Deal With Ambulance Provider

San Diego-based Lytx Inc., a provider of video and data collection systems for transportation fleets, has signed a full-fleet agreement with a Montebello, Calif.-based ambulance provider.

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Leap Wireless Finalizes Sale to AT&T; Stockholders to Share in Sale of Spectrum

Leap Wireless International Inc., the San Diego prepaid wireless carrier doing business as Cricket, completed its $4 billion sale to AT&T Inc. last week following approval from the Federal Communications Commission and the Department of Justice.

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S.D. Beverage Company Takes Title Sponsorship of Local Athletic Event

Suja Juice Co. was named the title sponsor for the 2014 San Diego Rock ‘n’ Roll Marathon and Half Marathon on June 1.

The Net Profit Pie Chart Is Sliced in Favor of the Biggest Banks

Last month, the nation’s top banking regulator, the Federal Deposit Insurance Corp., reported that the aggregate net profit of the nearly 7,000 banks in the nation last year increased 10 percent to $154.7 billion.

Disbanded Centennial Group Releases Financials

CIVIC: Event Organizers Spent About $2.6 Million, Including Pay for 3 CEOs

A new financial report from the recently disbanded nonprofit that was organizing a celebration of the 1915 Panama California Exposition shows the group received more than $3 million in funding and spent about $2.6 million.

New Leadership to Set The Pace at Competitor

SPORT: Golf Exec Named CEO As Owner Charts New Course

Competitor Group Inc., the San Diego firm that manages the Rock ’n’ Roll Marathon Series and publishes four endurance sports magazines, hired David Abeles, who was the general manager at TaylorMade-Adidas Golf Co., as its new chief executive.

County’s February Median Housing Price Is $410,000

The median price of a single family house in San Diego County in February was $410,000, up $5,000 from January, but down from the peak in June of $416,000, according to Dataquick, the La Jolla real estate research firm.

RFI Reports Q1 Net Income of $265,000

RF Industries Ltd., the San Diego maker and distributor of connectors and cable assemblies, reported first quarter net sales of $5.9 million, down 41 percent from the like quarter of 2013.

U.S. Women’s Soccer Team to Play China at Qualcomm Stadium

The U.S. Women’s national soccer team will play an exhibition match or “friendly” April 10 against longtime rivals from the People’s Republic of China at San Diego’s Qualcomm Stadium with kickoff at 8 p.m.

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Competitor Group Announces Leadership Changes, Names Abeles New Chief Executive

Competitor Group Inc., the San Diego firm that manages the Rock ’n’ Roll Marathon Series and publishes four national endurance sports magazines, hired David Abeles, the top honcho at TaylorMade-Adidas Golf Co., as its new chief executive.

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Bridgepoint Education Reports Revenue Down Nearly 21% for 2013

Bridgepoint Education Inc., the San Diego operator of Ashford University and the University of the Rockies, reported lower revenue and profit for the fourth quarter and 2013.

Median Home Price in San Diego Declines in February

The median price for a single-family house in San Diego was $470,000 in February, down slightly from January.

The County's Unemployment Rate Increases to 7% in January

San Diego’s unemployment rate increased to 7 percent in January from December’s rate of 6.5 percent, as the region’s net job loss during the month was 16,400, according to the latest report from the state’s Employment Development Department.

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Leap Wireless Reports $640.8M Loss for 2013 as Sale to AT&T Looms

Leap Wireless International Inc., the San Diego-based flat-rate cellphone service doing business as Cricket, reported a $640.8 million net loss for 2013 in what is expected to be its last annual securities filing before it completes its sale to AT&T Inc. later this month.

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Novatel Reports Net Loss of 43.4M for 2013

Novatel Wireless Inc., the San Diego-based maker of wireless modems and software, reported a 2013 fourth quarter net loss of $21.3 million, compared with a net loss of $14.9 million in the like quarter of 2012.

Banking Recovery Continues to Move in the Right Direction

The recovery may be happening slowly in some industries like construction, but most banks are feeling flush these days.

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Leap Wireless Reports $640.8M Loss for 2013 as Sale to AT&T Looms

Leap Wireless International Inc., the San Diego-based flat-rate cellphone service doing business as Cricket, reported a $640.8 million net loss for 2013 in what is expected to be its last annual securities filing before it completes its sale to AT&T Inc. later this month.

Park Centennial Planning Group Votes to Disband

Balboa Park Celebration Inc., the nonprofit organization formed to put on a year-long series of events to commemorate the 1915 Panama California Exposition, voted to disband and cede its authority to the city of San Diego.

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Novatel Reports Net Loss of $43.4 Million for 2013

Novatel Wireless Inc., the San Diego-based maker of wireless modems and software, reported a 2013 fourth quarter net loss of $21.3 million, compared with a net loss of $14.9 million in the like quarter of 2012.

Port Takes Timeout To Sort Out Zoning

Development: Automobile Distributor’s, City’s Plans Clash

A longstanding dispute between Pasha Automotive Services, one of the Port of San Diego’s most successful tenants, and National City has prompted the port district to reassess its zoning in the area, a process that could take about two years.

County’s Unemployment Rate Increases to 7% in January

San Diego’s unemployment rate increased to 7 percent in January from December’s rate of 6.5 percent, as the region’s net job loss during the month was 16,400, according to the latest report from the state’s Employment Development Department.

Funding for 2nd Phase of the San Ysidro Port of Entry Project Is in Obama's Proposed Budget

Funding for the second phase of the San Ysidro port of entry expansion project was included in the fiscal 2015 federal budget proposed by President Obama.

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Infosonics Reports Record Q4 Sales

Infosonics Corp., the San Diego distributor of cellphones and wireless devices mainly in South America, reported record fourth quarter sales, units shipped, and broke through for a small net profit.

The Party Is Over for Balboa Park Centennial Group as It Votes to Disband

Balboa Park Celebration Inc., the nonprofit organization formed to put on a year-long series of events to commemorate the 1915 Panama California Exposition, voted to disband and cede all its authority to the city of San Diego.

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New Partnership Puts Bumble Bee Foods in Premium Food Arena

Bumble Bee Foods LLC, the San Diego provider of canned tuna and other seafood, said it entered into a partnership with Sapmer, the second largest tuna fleet in France.

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Leap Wireless to Announce Q4 Results Through SEC Filing Only

Leap Wireless International, the San Diego based flat-rate carrier doing business under the Cricket brand, said it will release its 2013 fourth quarter and full year financial results to the Securities and Exchange Commission, but doesn’t intend to issue a separate news release or hold a conference call with stock analysts later this month.

Positive Business Outlook Gains More Momentum According to Survey

San Diego businesses are starting to feel more optimistic about the future, according to the most recent San Diego County Business Forecast.

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Upper Deck Gets NHL Contract for Trading Cards

Upper Deck, the Carlsbad maker of sports trading cards, celebrates its 25th anniversary this week with the announcement that it’s got a new contract with the National Hockey League to be the exclusive provider of its players’ trading cards.

Taxpayer Association President Leaving Post to Join Mayor Faulconer’s Staff

The San Diego County Taxpayers Association said its president, Felipe Monroig, is leaving the post to take a job with Mayor Kevin Faulconer’s administration.

Bright Light Management Launches

Bright Light Management, a San Diego management consulting firm aimed at helping early-stage companies, recently announced its launch.

Seminar to Discuss Creating Economic Opportunity and the New Funding Formula for Schools

Representatives of five South Bay school districts are convening March 7 to discuss a newly instituted formula that determines the amount of funds the districts get from the state.

South County EDC Event to Discuss Creating Economic Opportunity, New School Funding Formula

Representatives of five South Bay school districts are convening March 7 to discuss a newly instituted formula that determines the amount of funds the districts get from the state.

Venture Management Fund Bright Light Management Launches

Bright Light Management, a San Diego venture management fund, aimed at helping early-stage companies, recently announced its launch.

Cox to Cut 500 Jobs, Close Call Center

Cox Communications plans to close its Copley call center in Kearny Mesa, cutting about 500 jobs in a variety of customer-care functions, the company said.

Sony to Cut 400 People Locally in Restructuring

TECH: $1.1 Billion Loss Prompts Company to Close Many of Its Branded Stores

Sony Electronics said it will cut some 400 people from its local headquarters office in Rancho Bernardo as part of a restructuring by parent Sony Corp. that will eliminate 5,000 jobs globally.

Problems Plague Park’s Centennial Celebration

CIVIC: CEO Resigns, While Fundraising Efforts Hit Snags

Balboa Park Centennial Inc., the nonprofit group formed to stage a year-long celebration of the 1915 Panama California Exposition, lost its third CEO since it was formed, calling into question to what extent the party will go on.

S.D. Still in the Field Of Olympics Hopefuls

SPORT: Choices for U.S. Bid For 2024 Down to 5 or 6 Cities

Don’t look for San Diego’s bid to host the 2024 Summer Olympic Games to resemble anything remotely close to the $51 billion that Russia spent to host the Winter Olympics in Sochi.

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Cox Communications Closing Local Call Center, Cutting 500 Jobs

Cox Communications said it is closing its Copley call center in Kearny Mesa, cutting about 500 jobs in a variety of customer-care functions.

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Sempra Reports 2013 Net Income of $1 Billion

Sempra Energy, parent of San Diego Gas & Electric and other subsidiaries, reported full year 2013 net income of $1 billion, compared with net income of $859 million in 2012.

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Karl Strauss Holding Job Fairs as Remodeling Changes Staffing Needs

Karl Strauss Brewery’s Sorrento Valley site is undergoing a remodel, triggering the layoff of 67 employees last month.

Supplier Forum Is Opportunity for Local Businesses to Make Big Connection

The Otay Mesa Chamber of Commerce and the San Diego Center for International Trade Development will host a supplier forum March 6 in Chula Vista featuring Medtronic, a $16 billion medical technologies company based in Minneapolis.

Pulse Electronics Achieves Debt Management Agreements

Pulse Electronics Corp., a San Diego based maker of electronic components, reached agreements with its debt holders that reduces its debt and the funds needed for debt repayment, the company said.

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Sempra Increases Annual Dividend 4.8%

Sempra Energy, the San Diego holding company for San Diego Gas & Electric and other subsidiaries, said its board of directors approved a 4.8 percent increase in the annual dividend it pays to shareholders to $2.64 per share from the prior dividend of $2.52 per share.

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DJO Global Reports Q4 Results

DJO Global Inc., the Vista-based maker of orthopedic devices, reported a 2013 fourth quarter net loss of $132 million, compared with a net loss of $47 million for the like quarter of 2012.