San Diego Business Journal

Housing Prices Up 4.7 Percent From October 2013 to October 2014

An index measuring housing prices nationally showed San Diego’s prices increased 4.7 percent over a 12-month period from October 2013 to October 2014, or slightly better than a composite index for the 20 largest cities, which finished up 4.5 percent over the same period.

BofI Federal Bank Enters Into Purchase Agreement

BofI Federal Bank, San Diego’s second-largest commercial bank, said it entered into a purchase agreement with Union Federal Savings Bank, based in Rhode Island, and its parent company, First Marblehead Corp., for about $125 million of deposits.

Sphere 3D Corp. Enters Agreement With Microsoft

Sphere 3D Corp., which completed its acquisition of San Diego’s Overland Storage earlier this month, said it entered into a multi-year agreement with Microsoft Corp. allowing the pre-installation of Windows embedded server software in appliances using Sphere 3D’s Glassware 2.0 virtualization technology.

Port of San Diego Hires Search Firm to Recruit CEO Candidates

The Port of San Diego said it hired New York executive search firm Boyden to recruit and screen candidates for the agency’s vacant president/chief executive officer position.

AMN Healthcare Acquires Nebraska Company

AMN Healthcare Services Inc., the San Diego-based medical staffing firm, said it acquired Avantas, an Omaha, Neb. firm that provides clinical management services, for a price that could reach $25 million.

West Partners Completes Follow-On Investment in NoteVault

West Partners, the investment arm of the Gary & Mary West Family Office, completed a follow-on investment in NoteVault Inc., a San Diego provider of voice-to-text-based mobile reporting solutions for the engineering and construction industry.

Ben Alvarado Named Regional President of Wells Fargo's SoCal Region

Wells Fargo & Co. said it named Ben Alvarado as regional president of the bank’s Southern California region, serving customers in San Diego, Orange and Imperial counties.

San Diego County Unemployment Rate Remains 5.8% in November

San Diego’s unemployment rate stayed flat in November from the prior month, at 5.8 percent, but well below the year-ago jobless rate of 7 percent, the state Employment Development Department said.

Dodd-Frank Change Not the Death Knell of Banking Reform

Wall Street banks got an early Christmas present from Washington, according to some headline writers earlier this month.

County Unemployment Rate Remains 5.8% in November

San Diego’s unemployment rate stayed flat in November from the prior month, at 5.8 percent, but well below the year-ago jobless rate of 7 percent, the state Employment Department said.

Connequity’s Platform Introduces Matchmaking for Networking

SOFTWARE: Company Uses Algorithm to Generate Warm Leads for Clients

Connequity, a newly launched online platform, hopes to take business networking to a new level.

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For ecoATM, Change Brings Opportunity

TECH: Acquisition Doesn’t Dampen Company’s Drive

When Outerwall Inc. acquired San Diego startup ecoATM last year, it promised to keep the operation here and grow it.

Bumble Bee Agrees to $1.51 Billion Sale to Thai Union Frozen

San Diego-based Bumble Bee Seafoods LLC, one of the world’s largest seafood purveyors, said it agreed to be acquired by Thai Union Frozen Products Public Company Ltd, for $1.51 billion.

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Chamber of Commerce Extends Contract With CEO Jerry Sanders

Jerry Sanders agreed to continue to work as president and CEO for the San Diego Regional Chamber of Commerce at least through 2017, the chamber said Thursday.

General Dynamics Nassco Opens Facility in Bremerton, Wash.

General Dynamics Nassco, which operates the largest shipbuilding site on the West Coast in San Diego and employs more than 3,000 here, said it recently opened a new repair and maintenance facility in Bremerton, Wash.

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Leslie Larranaga-Britt Named Executive Director of Mile of Cars

The National City Mile of Cars named Leslie Larranaga-Britt as its new executive director.

San Diego Chargers to Stay Put for 2015 Season

The San Diego Chargers said the team will remain at Qualcomm Stadium for the 2015 season, putting to rest rumors that last week’s loss to the Denver Broncos was the last time fans could see them play here.

Teradata Corp. Completes Acquisition of RainStor

Teradata Corp., an Ohio-based public company with about 1,000 employees in Rancho Bernardo, said it completed the acquisition of RainStor, a business specializing in online big data archiving.

Business Confidence Rose in November, Index Finds

A Business Outlook Index for San Diego, a measure of local business confidence prepared for the San Diego Regional Chamber of Commerce, increased 2 points in November over the prior month to 26.8, led by a hefty rise from businesses in the cyber security industry.

Median Home Price in November Was $430,000

The median price for houses sold last month in San Diego County was $430,000, down 2.2 percent from October, but up 3.6 percent from November 2013, according to the most recent CoreLogic Dataquick real estate report.

Murata Electronics Completes $471 Million Purchase of Peregrine

Peregrine Semiconductor Corp., the San Diego maker of chips found in wireless devices and networks, completed its sale to Japan-based Murata Electronics North America Inc. in an all-cash transaction valued at $471 million.

Steven Devan Named to Catalyst Corporate Credit Union Board

Steven Devan, chief executive officer of Grossmont Schools Federal Credit Union, was named to the board of directors of Catalyst Corporate Credit Union, the Texas-based wholesale credit union serving 229 member credit unions in California.

Notable Speakers Slated For TD Ameritrade Conference

TD Ameritrade Institutional's national conference in San Diego next month features a couple of big-name speakers sure to enlighten and entertain the expected 3,000 attendees.

Grossmont's Devan Named to Catalyst Corporate Credit Union Board

Steven Devan, chief executive officer of Grossmont Schools Federal Credit Union, was named to the board of directors of Catalyst Corporate Credit Union, the Texas-based wholesale credit union serving 229 member credit unions in California.

Peregrine Completes $471 Million Sale to Murata Electronics

Peregrine Semiconductor Corp., the San Diego maker of chips found in wireless devices and networks, completed its sale to Japan-based Murata Electronics North America Inc. in an all-cash transaction valued at $471 million.

TD Ameritrade Conference Features Big-Name Speakers

TD Ameritrade Institutional's national conference in San Diego next month features a couple of big-name speakers sure to enlighten and entertain the expected 3,000 attendees.

Imaging Technology Spurs Opportunities in Finance

Once a novelty, mobile banking is becoming an increasingly popular way to make deposits or withdraw cash from ATMs.

Small Credit Unions Continue to Provide Personal Service

Being small has its advantages, as a group of 11 San Diego credit unions operating with total assets below $100 million will tell you.

Overland and Sphere 3D Merger Is a Match Made in the Cloud

TECH: Virtualization Platform Gets Product Delivery Infrastructure

The merger of San Diego-based Overland Storage into Sphere 3D Corp. of Canada, completed earlier this month, creates a business with about $100 million in revenue, but the upside is much greater, said Eric Kelly, chairman and chief executive of Sphere 3D.

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For Vending Machine Operators, It’s Not the Candy That’s Dandy

RETAIL: Offering Healthful Snacks Part Of a Changing Market

That vending machine you hit up for that late afternoon pick-me-up may be changing its stripes. Out with sugary sodas and candy; in with organic juices and Cliff bars.

Apartment Vacancy Rate Falls to 2.3 Percent

The apartment vacancy rate in San Diego County fell to 2.3 percent this fall, nearly halving the 4.1 percent vacancy rate from one year earlier, according to the San Diego County Apartment Association’s semi-annual survey of landlords.

Sempra Energy's Directors Declare Quarterly Dividend

Sempra Energy, the holding company for San Diego Gas & Electric and other subsidiaries, said its board of directors declared a quarterly dividend of 66 cents per share of common stock.

Security Firm DB Networks Obtains $17 Million in Financing

DB Networks, a Carlsbad provider of cyber security for computer networks, said it obtained $17 million in new financing led by Grotech Ventures of Vienna, Va.

Housing Sales Down Nearly 22 Percent in November

Sales of single-family houses in San Diego County fell nearly 22 percent in November from the prior month, and were down about 14 percent year over year, according to the Greater San Diego Association of Realtors.

Three Radio Stations Sold to Entercom Communications

Entercom Communications Corp., a Pennsylvania-based operator of radio stations, said it agreed to acquire Lincoln Financial Media and its 15 radio stations, including three in San Diego, for $105 million plus working capital.

Teams Announced for College Football Bowl Games

The opponents for San Diego’s two college football bowl games have been set.

Thousands of Executives Expected for Baseball's Winter Meetings

About 3,000 baseball executives from some 200 professional teams, both major and minor leagues, descend upon the San Diego Convention Center and the nearby Hilton San Diego Bayfront Hotel Dec. 7-10 for the 2014 Baseball Winter Meetings.

San Diego Places 5th in Number of Million-Dollar Homes Sold

San Diego ranked fifth in the nation for the number of sales of million-dollar houses in the third quarter, according to a recent report from Redfin.

Baseball Executives Arrive Sunday for Winter Meetings

About 3,000 baseball executives from some 200 professional teams, both major and minor leagues, descend upon the San Diego Convention Center and the nearby Hilton San Diego Bayfront Hotel Dec. 7-10 for the 2014 Baseball Winter Meetings.

Banking Industry is Back and in the Black and Growing Profits

The nation’s banking industry is apparently well back into the black, and making higher profits.

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Added Value

LEADERSHIP: CFOs Are Increasingly Involved in Strategy, Operations and Business Development

They’ve got their fingers on just about every facet of a company, likely know where all the skeletons are buried and are wearing more hats these days.

Opera Pleased With Ticket Sales; Nears Fundraising Goal

AUDIT: Remaining $2.2M of 2003 Kroc Gift Now in Cash Account

As it embarks on its 50th season next month, the revived San Diego Opera said ticket sales are doing better than expected and it’s closing in on meeting a fundraising goal.

San Diego Ranks 5th in Nation for Million-Dollar Home Sales

San Diego ranked fifth in the nation for the number of sales of million-dollar houses in the third quarter, according to a recent report from Redfin.

Planning Agency to Offer Grants to Promote Bicycling

The San Diego Association of Governments (SANDAG), the regional planning agency for the county and its 18 cities, said it wants to distribute $30,000 in grant funding to projects and creative programs that will promote bicycling.

Mitchell International to Acquire Cogent Works

Mitchell International Inc., the San Diego provider of software serving the auto insurance and auto repair industries, said it agreed to acquire Cogent Works, a Utah-based business that specializes in processing property and casualty pharmacy prescription claims.

San Diego Economy Continues to Improve

An index measuring San Diego’s economy rose 0.6 percent in October, the fifth consecutive month it’s increased, signaling solid growth at least through the end of 2015.

PriceSmart Opens Sixth Store in Colombia

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, said the company opened its sixth warehouse store in Colombia in the city of Medellin last month.

Pulse Electronics Names New CEO

Pulse Electronics Corp., a San Diego manufacturer of electronic components in China, said its board of directors named Mark Twaalfhoven as its new chief executive officer effective Dec. 1.

Overland Storage Announces Approval of Merger with Sphere 3D

Overland Storage Inc., the San Diego provider of data storage systems, said more than 99 percent of the shares voting in a special meeting last week were cast in favor of approving a planned merger with Sphere 3D Corp., a Canadian technology business whose stock is traded on the Toronto Stock Exchange.

SBA Encourages Consumers to Think Small on Nov. 29...Small Businesses, That Is

On the heels of Thanksgiving comes Black Friday, and then comes Small Business Saturday, say the folks at the San Diego District Office of the U.S. Small Business Administration.