San Diego Business Journal

Active Network Celebrates Its Texas Move With Charity Event

Active Network, which relocated its headquarters to Dallas in August, celebrated the opening of that office with a charity challenge, aimed at placing children into sports activities.

Local Loan Firm Adds More Health Systems to Its Roster

Clear Balance, a San Diego provider of patient loans, recently added a few health care systems to its client base.

ATMs Give It, and ATMs Take It Away Through High User Fees

Thanks to the Dodd-Frank banking reform law, consumers can’t be dinged as much on the rates banks charge on credit cards and other things like check overdrafts.

Active Network Holds Charity Event to Celebrate Move to Texas

Active Network, which relocated its headquarters to Dallas in August, celebrated the opening of that office with a charity challenge, aimed at placing children into sports activities.

Revived San Diego Opera Is Nearing Its Fundraising Goal

ARTS: The $5.3 Million Raised Puts Group Near Goal for 3-Opera Season

The San Diego Opera, which was reactivated in April after its board initially voted to disband, said its fundraising campaign and ticket sales for the upcoming season are nearly meeting targeted goals.

Hewlett-Packard Split Part of Its Strategy

TECHNOLOGY: Some See San Diego in Position to Benefit

The proposed split of Hewlett-Packard into two public companies could have a positive effect on its local operations in Rancho Bernardo where it has some 2,000 employees, said local sources.

Median Price for Single Family Home in County Remains Unchanged From August to September

The median price for a single family house in San Diego remained unchanged in September from August at $510,000. The price was about 5 percent above the median in September 2013, according to the Greater San Diego Association of Realtors.

Local Economic Index Increases 0.3% in August

An index measuring San Diego’s economy increased 0.3 percent in August, with four of the six components rising during the month.

SpectraScience Taps SenaHill for Advice on $40M Financing Plan, Strategic Alternatives

SpectraScience Inc., a San Diego medical device company, sid it has engaged SenaHill Advisors LLC as an advisor in connection with a proposed equity financing of up to $40 million and a review of strategic alternatives.

SB Capital Partners Acquires a Local Lawn Care Company

SB Capital Partners, a San Diego private equity firm focusing on the home services and facilities space, said it acquired Aerations Only Inc., a local lawn care company that services some 10,500 household regionally.

Marrs Maddocks & Associates Insurance Services' Assets Acquired By Hub

Hub International Ltd, a Chicago-based insurance brokerage, said it acquired the assets of Carlsbad-based Marrs Maddocks & Associates Insurance Services Inc. for an undisclosed price.

Fresh Healthy Vending Adds 120 Machines to Network

Fresh Healthy Vending International Inc., a San Diego franchisor of vending machines selling healthy snacks, said it closed September by adding 120 combo machines to its network through nine new franchisees.

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OneRoof Energy Group Announces Financing Agreements Worth $16.7 Million

OneRoof Energy Group Inc., a San Diego solar services business, said it entered financing agreements from Black Coral Capital LLC and affiliates of the Hanwha Group that provide about $16.7 million in new capital.

Audit of Balboa Park Celebration Inc. Found Group Better at Spending Money Than Raising It

A city audit of the nonprofit group that was supposed to organize and oversee a year-long celebration of the 1915 Panama-California Exposition found no fraud, but plenty of incompetence, noncompliance to its agreement with the city, and a lack of oversight by the city.

Soon You Can Find an Additional ‘Item’ at Wal-Mart: Banking

Wal-Mart is back in the banking business, which is bad news for the banking industry, although it won’t say that.

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Bay Cleanup Tackles Heavily Polluted Site in Second Phase

LEGAL: Wrangling Over Who Pays Still An Issue With Parties

While the Port of San Diego touts its recent success in cleaning up a part of San Diego Bay at the Campbell Shipyards site, work on a more polluted site near the San Diego-Coronado Bridge continues as does litigation involving what the responsible parties will contribute to the project’s $75 million cost.

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OneRoof Energy Announces Financing Agreements Worth $16.7M

OneRoof Energy Group Inc., a San Diego solar services business, said it entered financing agreements from Black Coral Capital LLC and affiliates of the Hanwha Group that provide about $16.7 million in new capital.

County Pension Board Votes Against Terminating Partridge and Salient Partners

The San Diego County Employees Retirement Association’s voted 5-4 against terminating their outsourced chief investment officer Lee Partridge and his firm, Salient Partners, at its Oct. 2 meeting.

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SDCCU Sponsors Aztecs Basketball

San Diego County Credit Union, the area’s largest credit union with $6.6 billion in assets, said it is a sponsor of the San Diego State University men’s basketball 2014-15 season.

San Diego Workforce Partnership Receives Federal Grant to Help Families of the Disabled

The San Diego Workforce Partnership, the regional job training agency, said it received a $6 million grant from the U.S. Department of Labor’s Workforce Innovation Fund for a five-year project aimed at helping families of people with disabilities find jobs.

Carlsbad Desalination Plant Said to Be 65% Complete

The Carlsbad Desalination Plant that began construction last year, and claims to be the largest desalination plant in the western hemisphere, is 65 percent complete, said developer Poseidon Water.

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Franklin Wireless Corp. Reports FY2014 Net Sales of $30.9M

Franklin Wireless Corp., a San Diego maker of high speed wireless modems, routers and modules, reported net sales for its 2014 fiscal year of $30.9 million, down from net sales of $32.8 million in the prior fiscal year.

Report Gives Picture of Region's Manufacturing Sectors

In advance of National Manufacturing Day on Friday, Oct. 3, a new local study finds that nearly 3,000 San Diego companies are engaged in the activity, and employ more than 94,000 workers who earn an average of $75,800.

South County EDC to Host Economic Summit at Convention Center

The South County Economic Development Council, the nonprofit business advocacy organization for the South Bay, hosts its 24th annual economic summit Oct. 10 at the San Diego Convention Center.

Irwin Jacobs Makes Forbes' 400 Wealthiest Americans List

Qualcomm Inc. co-founder and retired chairman Irwin Jacobs was the only San Diegan to make this year’s Forbes list of the 400 wealthiest Americans.

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PriceSmart Acquires Land in Panama for New Warehouse Store

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, said it acquired 239,000square feet of land in Chorrera, Panama where it intends to open a new warehouse store in the summer of 2015.

Business Workshop Will Focus on Tax Credits for Job Creation

Small, medium and large businesses interested in qualifying for a state tax credit for creating new jobs can get more information at a free workshop Oct. 13 presented by the Governor’s Office of Business and Economic Development and the San Diego Regional Economic Development Corp. held at San Diego City College’s Corporate Education Center starting at 1 p.m.

Pulse Electronics Says It Will Voluntarily Delist From NYSE

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

Youngevity Subsidiary's New Coffee Contracts Expected to Generate $2M in Revenue

Youngevity International Inc., a Chula Vista based direct marketer of gourmet coffees and other products, said the Green Coffee sales division of its wholly owned subsidiary, CLR Roasters, procured several new contracts for its shade-grown, Arabica green coffee distribution business that is expected to generate $2 million in gross revenue.

Home Bank Seems to Always Be Making Profitable Moves

When Home Bank of California changed its address last year and moved to Kearny Mesa from Pacific Beach, the idea was to mine the more heavily concentrated business neighborhood.

Burnham Sees Profit for the Community in a Nonprofit UT

MEDIA: Businessman Pursues Unusual Purchase Plan for Local Newspaper

Whether Doug Manchester sells the UT San Diego to a new nonprofit organization is still unclear, but one of the country’s largest daily newspapers, the Tampa Bay Times, has operated under that model for more than three decades.

Pension Fund Officer’s Position Is in Peril

FINANCE: County Considers Trying Path With Less Risks

San Diego County’s employee pension fund would be better off adopting a safer, more traditional investing model rather than the higher-risk one now in place, said several investment professionals.

Business Workshop to Focus on Tax Credits for Job Creation

Small, medium and large businesses interested in qualifying for a state tax credit for creating new jobs can get more information at a free workshop on Oct. 13 presented by the Governor’s Office of Business and Economic Development

Youngevity Subsidiary Secures Several New Coffee Contracts

Youngevity International Inc., a Chula Vista based direct marketer of gourmet coffees and other products, said the Green Coffee sales division of its wholly owned subsidiary, CLR Roasters, procured several new contracts for its shade-grown, Arabica green coffee distribution business that is expected to generate $2 million in gross revenue.

Pulse Electronics Corp. Plans to Delist From New York Stock Exchange

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

Lucia Capital Group Acquires Montecito Firm

Lucia Capital Group, a San Diego wealth management firm whose principals include Ray Lucia Jr. and Joe Lucia, the son and nephew of longtime local financial advisor Ray Lucia, said it acquired West Coast Asset Management of Montecito, an advisory firm that manages about $170 million in assets.

San Diego-based Axesstel Acquires Flexcomm

Axesstel, a San Diego provider of telecommunications equipment, said it acquired Flexcomm Ltd., a Hong Kong based provider of wired and wireless routers and modems, in a deal that entailed Axesstel issuing 25 million shares of its common stock to Flexcomm stockholders.

Camaisa Named CEO of Parallel 6

Allan Camaisa, a local serial entrepreneur, was named chief executive officer of Parallel 6, a mobile technology company based in San Diego.

Guild Mortgage Acquires Comstock Mortgage

Guild Mortgage, a San Diego mortgage lender that has more than 200 branch and satellite offices in 23 states, said it acquired Comstock Mortgage, an independent mortgage lender in Sacramento with 15 offices.

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Overland Storage Reports FY2014 Revenue of $65.7M

Overland Storage, the San Diego data storage systems provider that entered into a definitive agreement to be acquired by a Canadian software company earlier this year, reported fiscal 2014 fourth quarter revenue of $24.2 million, up 101 percent from the like quarter of the prior fiscal year.

Companies to Support Japan-America Grassroots Summit Delegation

Japan Airlines Co. Ltd. and Kyocera Corp., which operates several subsidiary companies in San Diego, said they will jointly support the Tomodachi Hironomachi Delegation to the 24th Japan-America Grassroots Summit in that runs Sept. 23-30 in San Diego.

County's Unemployment Rate Drops to 6.2% in August

San Diego’s unemployment rate fell to 6.2 percent in August, down from a revised 6.6 percent in July.

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Peregrine Semiconductor Sale Draws a Crowd of Lawyers

LAW: Threat of Shareholder Lawsuits Is Business as Usual For Acquisitions These Day

When San Diego-based Peregrine Semiconductor Corp. announced its decision to sell the company for a 63 percent premium above its market value, at least eight law firms announced investigations into the chip maker’s business the same day, alleging its shareholders were getting short-changed on the offer price.

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Growing problem

PRODUCTION: Advanced Manufacturing Is Increasing But Will Its Worker Pool?

The work at Rancho Bernardo’s D&K Engineering isn’t easy to classify.

Precision One Medical Acquired By Alabama Company

Precision One Medical Inc., a privately-held manufacturer of dental implants and components in Oceanside, was acquired by BioHorizons, an Alabama company that operates in the same industry.

Legend3D Announces Departure of a Top Exec

Legend3D Inc., the Carlsbad company that converts two dimensional films to three-dimensional formats for movie studios, said founder, chief technical officer and chief creative officer Barry Sandrew left the company “to focus on entrepreneurial endeavors.”

PowerGenix to Sell Equity Stake to Nevada Company

PowerGenix, a San Diego developer and maker of nickel-zinc rechargeable batteries, entered into an agreement to sell an undisclosed equity stake to Nevada-based Blue Earth Inc. for $10 million, the latter firm announced.

Median Household Income Falls to $61,426 in County

If you think you’re coming up short in the never-ending effort to make ends meet, you’re not alone, looking at a recent report from the U.S. Census Bureau.

Huntington Capital Sells One of Its Portfolio Companies

Huntington Capital, a San Diego private equity firm, said one of its portfolio companies, Residential Design Services, Inc., an outsourced interior designer, was acquired by another private equity firm, resulting in “a high return on investment.”

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California Bank & Trust Expands Nixon's Role to Include Northern California

Tory Nixon, who heads up the San Diego division for California Bank & Trust, was named to oversee the bank’s Northern California division as well.