San Diego Business Journal

There's No Olympic Torch for This Town in 2024

San Diego’s longshot effort to become the United States’ bid city for the 2024 Olympics ended June 13 when the U.S. Olympic Committee announced it had narrowed the field to four cities: Boston, Los Angeles, San Francisco and Washington, D.C.

From Teller to CEO, California Coast CU Leader Leaves Her Mark

Marla Shepard didn’t look at the teller’s job she took right out of college as the end game, only the start of a long career. From that modest beginning in 1972, she set an auspicious goal: to become president of the Telephone Employees of San Diego Credit Union.

Union Bank’s Japanese Parent Moves to Comply With Regulations

Banking: Rules Require Foreign-Owned Banks To Set Up U.S. Holding Cos.

Japanese-owned Union Bank, with 59 branches in San Diego, is changing its legal name and structure — but not its branded name — to comply with regulatory changes covering foreign-owned banks doing business here.

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Soccer News Website Drinking From Cup

Sports: Soccerly.com Hopes World Cup Will Bring Readers

The stories being posted on Soccerly.com last week all revolved around the biggest sport event in the world that started June 12 in Brazil.

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Making it Here

Manufacturing: Cos. Growing While Being Courted

It’s not easy being an aerospace manufacturer these days — or any manufacturer for that matter — if you call California home, but that doesn’t necessarily mean the grass is greener elsewhere.

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Petco Awarded $2.6 Million State Tax Credit Amid Plans to Build New HQs

Petco nabs the second-highest such tax credit awarded.

Decline in Household Formation Hampering San Diego Economy

Not enough young adults are leaving home to help kick-start the construction and financing sectors.

EcoATM Partners With Former San Diego Police Chief

Ex-Chief to help company build relationships with law enforcement.

Median Home Price in San Diego Rises in May

The median price for a house sold in San Diego in May was $440,000, a bit higher than in April and considerably higher than a year ago.

Apartment Vacancy in San Diego County at 12-Year Low

The vacancy rate among San Diego apartments plunged to 2.8 percent, a level not seen in a decade, according to a report from the San Diego County Apartment Association.

San Diego Opera Beefs Up 2015 Offerings

The San Diego Opera adds to its 2015 lineup.

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Fresh Healthy Vending Grows Network of Franchisees

Healthy snack vending machine company adds nearly $1 million in revenue potential.

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Mad Catz Reports Q4 Results

Mad Catz Interactive Inc., the San Diego maker of computer game peripherals, reported fiscal 2014 fourth quarter sales declined 18 percent from the same quarter in fiscal 2013 to $20.2 million.

Kevin Faulconer Named to the Mayors Challenge to End Veteran Homelessness

San Diego Mayor Kevin Faulconer was named to the Mayors Challenge to End Veteran Homelessness, a federal initiative recently launched by first lady Michelle Obama and Housing and Urban Development Secretary Shaun Donovan.

First-Quarter Loan Growth Is Welcome Sight for Credit Unions

Like their banking brethren, credit unions have dug themselves out the hole from the Great Recession and have been making more loans in the last few years.

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Precision One’s Team Brings Home an SBA Win for Its Efforts

Precision One’s Team Brings Home an SBA Win for Its Efforts

An Oceanside medical device manufacturer launched in the depths of the recession is proving the axiom that the best management teams know how to set a course and get out of the way.

Peaker Power Plant Proposed Near Encina Site

ENERGY: Natural Gas Would Generate 600 MWs, Help Replace San Onofre

NRG Energy plans to build a new peaker plant next to the site of the Carlsbad’s Encina Power Station, a move aimed at replacing lost power due to the closure of the San Onofre Nuclear Generating Station.

Faulconer Named to Mayors Challenge to End Veteran Homelessness

San Diego Mayor Kevin Faulconer was named to the Mayors Challenge to End Veteran Homelessness, a federal initiative recently launched by first lady Michelle Obama and Housing and Urban Development Secretary Shaun Donovan.

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Mad Catz Q4 Sales Down 18%

Mad Catz Interactive Inc., the San Diego maker of computer game peripherals, reported fiscal 2014 fourth quarter sales declined 18 percent from the same quarter in fiscal 2013 to $20.2 million.

City Minimum Wage Increase Would Hurt Businesses, Employees, Report Says

A new report commissioned by the San Diego Taxpayers Association and the San Diego Regional Chamber of Commerce states that raising the hourly minimum wage in San Diego would hurt many small businesses, and be an ineffective tool to reduce poverty.

Staffing Company Launches New Recruitment Division

San Diego-based Eastridge Group of Staffing Cos., which said it’s among the nation’s largest privately held staffing companies, launched a new recruitment division, Eastridge Finance and Accounting.

Bridgepoint to Restate 2013 Financial Results

Bridgepoint Education, the San Diego parent company of two for-profit colleges, said in a securities filing that it will be restating its financial results for 2013, and revise its 2012 and 2011 financial reports.

Zodiac Pool Systems Makes Acquisition

San Diego-based Zodiac Pool Systems said it acquired the assets of Next Step Products LLC, specifically the SAVI Pool and Spa lighting line of products, and will continue to operate the company as a stand-alone business under the same brand.

Airsis Inc. Acquired By a Texas Company

Airsis Inc., a San Diego provider of software that helps in the tracking and management of ships, was acquired by Oceaneering International Inc. for an undisclosed price.

Early Returns Give Apathy the Most ‘Votes’

Election Day is here, but few of us will be making a trek to the polls, according to a report from National University System Institute for Policy Research, a privately funded think tank.

Everything You Need to Know About Lending Options

A panel of finance experts will expound on traditional and alternative lending options on June 5 from 8 a.m. to 2 p.m. at the San Diego Marriott Marquis and Marina.

Local Cos. Join in Homebuilders Blitz

Habitat for Humanity, in partnership with Sempra Energy, Shea Homes and Emmerson Construction, is building three houses in five days beginning June 2.

'Glass Is Half Full' for Water-Desalination Pipeline

A 10-mile pipeline that’s part of Carlsbad’s Desalination Plant is half-way completed, said the developer, Poseidon Water.

Opera Names Artisitc Adviser to Fill Leadership Role

The San Diego Opera named William Mason as its artistic adviser.

Baseball, Soccer Make the Trip From Mexico to Petco Park This Summer

Petco Park will host two events featuring top professional sporting clubs from Mexico this summer.

Opera Names New Artistic Adviser

The San Diego Opera named William Mason as its new artistic director, replacing Ian Campbell, who had steered the company for the past three decades.

Soccer, Baseball From Mexico Make the Trip to Petco Park This Summer

Petco Park will host two events featuring top professional sporting clubs from Mexico this summer.

CB&T’s Sale of Collateralized Debt Obligations Reduces Profit

California Bank & Trust, San Diego’s largest bank with about $11 billion in assets, saw its first- quarter net profit fall 38 percent from the prior year first quarter to $19.7 million.

Desalination Plant Pipeline Is 50% Complete

A 10-mile pipeline that’s part of Carlsbad’s Desalination Plant is half-way completed, said the developer, Poseidon Water.

Home Inventory Better, But Still Favors Sellers

HOUSING: Price Increases Lessen; Sales Pace Quickens

The number of houses listed for sale in San Diego County passed 8,000 last month, an increase of about 1,000 in late April, signaling a continued trudge toward a more balanced market.

Some Dark Clouds Over Overland’s Sale

TECH: Prior Relationship With Sphere 3D Could Draw Scrutiny

The proposed sale of Overland Storage Inc. to Canada-based Sphere 3D Corp. looks like a winner for the sellers, although securities lawyers claim it vastly undervalues the company’s true worth.

Reports Puts Shortage of Affordable Housing at 128,000 Units in County

San Diego County has a shortage of about 128,000 affordable housing units for low-income wage earners and those living in poverty, according to a new report from the San Diego Housing Federation.

Local Firm Providing Marketing and Business Services to Financial Cos. Is Merging With Kansas Company

Two companies providing marketing and other business services to the independent financial advisory industry said they’re merging.

Marathon Likely to Rock Traffic Flow June 1

A reminder to anyone driving June 1: the San Diego Rock ‘n' Roll Marathon is taking place.

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Chargers Single-Game Ticket Buyers to Pay More Bucks for Broncos and Some Others

The San Diego Chargers held the prices on single-game tickets for several years, but this season they’ll cost a bit more.

Class of 2014 Invited to Celebrate and Possibly … Get a Job

They’re billing it as a graduation party and job fair, but it sounds like an outdoor block party.

SDA Security Acquired by Bay Alarm

SDA Security, a San Diego-based security business that was founded in 1930, said it was acquired by Bay Alarm for an undisclosed price.

Chula Vista Apartment Complex Sold for $19.45M

Vista Lane Apartments, a two-building, 150 unit complex in Chula Vista, was sold by the Kreutzkamp Revocable 2000 Trust to the Conrad Prebys Trust for $19.45 million, said Christopher Zorbas of Marcus & Millichap Inc.’s San Diego office.

Recent Wildfires Did $30 Million in Private Property Damage

The estimated loss of private property from the recent wildfires that ravaged the county May 13 through May 19 was nearly $30 million, according to a report from San Diego County.

Opera Makes Staff Cuts as Part of Cost-Cutting Measures

The revived San Diego Opera, which recently rescinded an earlier decision to disband, said it laid off 13 people, or about a third of its full-time staff as part of a cost-cutting strategy to meet a reduced budget for its 2015 season.

Ceremony Celebrates Refurbishing of Imperial Beach Pier

A gathering of officials from Imperial Beach and the Port of San Diego hammered in a final, ceremonial nail into the last plank of the refurbished Imperial Beach pier recently, marking the project’s completion.

Small Businesses in Holding Pattern When It Comes to Hiring

While recent data suggests the national, state and regional economies are all in a recovery mode, employers, particularly small ones, are still reticent about expanding their payrolls.

Experian DataLabs Is a Solution in Search of F500 Problems

TECH: Local Unit Grows Staff to 30 Doing Analytics

After three years, the experiment known as Experian DataLabs in San Diego is bearing fruit.

Comprehensive Damage Report From County Wildfires Underway

ECONOMY: Determining Extent of Losses Involves Data From Multiple Agencies

The complete extent of losses caused by San Diego’s wildfires may not be known for weeks, but the estimates routinely provided in media reports aren’t wild guesses.

Opera Lays Off 13 in Cost-Cutting Move

The revived San Diego Opera, which recently rescinded an earlier decision to disband, said it laid off 13 people, or about a third of its full-time staff as part of a cost-cutting strategy to meet a reduced budget for its 2015 season.