Micro-Lending Partnership Opens Up a World of Opportunity
Accion San Diego, the micro lender for really small businesses and startups, joined forces with Kiva, which bills itself as the world’s first and largest micro lending platform, to expand its services.
Lending Its Support
FINANCE: Program Provides Crucial Backing For Small Business Loans
Small business owners who cannot get a loan from a traditional lender may find a solution at California Southern Small Business Development Corp., a nonprofit, state program that provides loan guarantees to help offset riskier loans by banks.
Median Home Price Rises To $350,000
San Diego’s median home price in September increased to $350,000, up 11 percent from the prior year’s September median price, and maintained an upward or flat trend evident in the last six months, according to the most recent Dataquick report.
Prop 33 Supporters Say Measure Will Reduce Auto Insurance Rates
LAW: Opponents Say It Will Increase the Number of Uninsured
With airwaves and mailboxes chock full of advertisements on better and cheaper auto insurance, drivers are likely checking their premiums and wondering whether changing insurers is worth it.
Dollars and Sense
STATE: Lynn Reaser Brings Solid Reputation To New Economist Post
Lynn Reaser was a bit reluctant to make any pronouncements, but, when pressed, said that 2013 should be better than 2012.
‘Healing Process’ Is Slow For Workers’ Comp
INSURANCE: Reforms Are Positive But Need Time to Take Effect
When Chris Hamilton missed a payment on his workers’ compensation insurance bill recently, his contracting business was summarily dumped by the carrier, forcing him to seek coverage from the State Compensation Insurance Fund and pay about double the premium he previously paid.
Local Mortgage Business Expands as Home Sales Surge
REAL ESTATE: Demand For Loans Driving Growth In Long-dormant Business
Local mortgage banks as well as traditional banks have been expanding their offices this year, responding to a clear uptick in real estate buying activity.
Index Shows Economy in Equilibrium
An index measuring San Diego’s economy was flat in August, compared to its July number, the second time that’s happened in the last three months.
Specialty Goods Produce Results For Companies
PRODUCTION: Firms Make It in Manufacturing By Pinpointing Market
While San Diego’s manufacturing sector continues a downward slide, there are obvious winners, such as specialty goods makers like Taylor Guitars, beer maker Stone Brewing Co. and Scantibodies Laboratory Inc., which makes medical diagnostic kits.
List’s Three Financial Firms All See Revenue Growth
FINANCE: Two Firms Experience Double-Digit Boost
Companies in the investment world have been largely in a hunker-down mode in recent years, but some local broker dealers have enjoyed decent growth as they expand their client base.
Services Succeed by Filling Key Needs
SERVICE: Firms Bring Expertise to Support Roles
It’s a broad sector that encompasses such different businesses as insurance brokerage, outsourced human resources, and an outsourcer of drug clinical trials, but the companies within business services group in this year’s Largest Private Companies List all share one thing in common: increasing annual revenues.
Investors Put $5.25M Into PCN
PCN Technology Inc., a designer and maker of communications equipment used in Ethernet networks, said it completed a $5.25 million investment round.
Opus Bank Takes on Three Suburban Branches
Opus Bank, based in Irvine and with $2.4 billion in total assets, expanded its branches in San Diego County by three after it completed the acquisition of 10 branches formerly belonging to PacWest Bancorp.
Bank Gives Armchair Sportscasters a Microphone
Calling all hard-core Charger fans, and you know who you are after that Sunday debacle at the Q against the Atlanta Falcons.
Jobless Rate Drops Slightly in August
San Diego County added a net of 900 jobs in August, helping to reduce the region’s unemployment rate to 9 percent from July’s revised rate of 9.3 percent.
Think Tank to Help City Boost Exports
The Brookings Institution, a liberal think tank based in Washington, D.C., selected San Diego to participate in its first Metropolitan Export Exchange program, aimed at helping to increase the amount of exports in the region, which would boost jobs and economic growth, according to Mayor Jerry Sanders’ office.
Gold Standard
FINANCE: Goldstone Named Chair of Prestigious Securities Oversight Board
Municipal bankruptcy, an option that three California cities have taken this year, isn’t in the cards for San Diego, or most other major cities in the state, says Jay Goldstone, the city’s chief operating officer.
Jensen Meat Co. to Hire 150
Jensen Meat Co., a supplier of meat to restaurants, hotels and schools, is hiring 150 new workers and retaining another 100 current employees as a result of its decision to open a 74,000 square foot plant in Otay Mesa, according to an announcement from Mayor Jerry Sanders.
Chinese Company to Buy Tech Gear from Lightpointe
Lightpointe, a San Diego maker of equipment used in wireless networks, said it signed a sales agreement with GCI Science and Technology Co. Ltd., a Chinese public company that was formerly a part of the China Ministry of Information Industry.
Retirement Ready? San Diego Ranks High in Financial Study
San Diego ranked second in the nation for retirement readiness, trailing only residents of Hartford and New Haven, Conn., according to a national survey conducted by wealth management firm Ameriprise Financial.
Two Remaining Local Thrift & Loans Deploy Different Strategies
Industrial banks, also called thrift and loans, are a holdover from a long past era when many banks shunned industrial or blue collar workers, who needed places to cash their checks and get an occasional loan.
Builders Discover Less Is More in New Home Projects
PROPERTY: Builders Adjust to the Reality Of Current Market
As vacant land becomes more difficult to find around San Diego, the trend in new home development has been toward building fewer units at a time, say local developers.
Moving in a New Direction
PROPERTY: Sales And Prices Are Up; County Faces Lack of Housing Inventory
San Diego’s residential real estate market has definitely stabilized, as evidenced by a higher number of sales and rising house values, but the lack of inventory remains problematic.
Bike-Friendly Areas Can Drive Business to Merchants
RETAIL: Bike Local, Shop Local Campaign Is a Success
Establishing a bike-friendly business district in car-addicted San Diego would seem incongruous, but that’s exactly what happened earlier this month.
TVC Closes on $75M Fund, Eyes Software and Services
TVC Capital LLC, a San Diego private equity firm focused on software investments, said it closed on a $75 million growth equity and buyout fund, TVC Capital II.
Fortune Smiles on Three Fast-Growing Companies
Three San Diego-based public companies made this year’s Fortune Magazine Fastest Growing Companies list revealed in this month’s issue.
Ship Takes Final Shape at Nassco Yard
General Dynamics Nassco, the only major shipyard on the West Coast, said it completed the hull for the first mobile landing platform ship for the U.S. Navy.
Carlsbad Financial Planner Opens Office
Rodd Miller, a certified financial planner based in Carlsbad, officially launched Miller Wealth Management last month as an independent investment manager.
RFI Net Income Outshines Year-Ago Quarter
RF Industries Ltd., a San Diego maker and distributor of radio frequency connectors and cable assemblies, reported net income of $735,000 for its fiscal third quarter, more than 10 times the $65,000 in net income reported for the like period of 2011.
Financial Adviser Named One of Barron’s Best
Dale Yahnke was selected by Barron’s to its Top 100 Independent Financial Advisers national ranking for the sixth consecutive year.
Regulators OK Opus Bank’s Purchase of Local Branches
Opus Bank, based in Irvine and with about $2.4 billion in total assets, received regulatory approval on its purchase of $143 million of deposits and 10 branches belonging to Pacific Western Bank including three based in San Diego County.
Federal and State Regulators Lift Consent Order on Bank
BANKING: Metro United Reduces Problem Assets And Commercial Loans
Metro United Bank, based in San Diego and a subsidiary of MetroCorp Bancshares Inc. of Houston, recently had its consent order terminated by federal and state regulatory bodies.
Community Banks Face Big Decisions
BANKING: Selling Out Seems Like Best Option In Difficult Environment
For the most part, the banking industry has recovered from the turmoil of the financial crisis.
North Island Credit Union Exec Named CEO of the Year
Banking: Retiring CEO Leaves Credit Union In Great Shape
Nearly three years ago John Tippets accepted what some said was a losing proposition — trying to turn around North Island Credit Union, then teetering on the brink of collapse. When he retires for the second time, next month, Tippets can leave knowing he achieved that.
Computers Figure Heavily in ‘Hot Jobs’ List
Recent college graduates with skills in software development, database mining, web development, and network administration are in hot job markets, according to the latest report from the UC San Diego Extension college.
Miramar Manufacturer Expands Plant
Specialty Manufacturing Inc., a San Diego manufacturer of thermoformed components, said it recently completed a plant expansion and remodeling of its plant in the Miramar area.
Guild Mortgage Opens Its Seventh Office in Region
Guild Mortgage, a San Diego based mortgage lender, recently opened its seventh office in the area in Kearny Mesa.
State Officials Outline Small Business Resources
California Controller John Chiang is the featured speaker at a small business seminar scheduled Wednesday, Sept. 12 at the Parma Payne Goodall Alumni Center at San Diego State University from 9 a.m. to noon.
New ‘Hot Jobs’ List Has Common Thread: Computers
Recent college graduates with skills in software development, database mining, web development, and network administration are in hot job markets, according to the latest report from the UC San Diego Extension college.
PlayMG and BillMyParents Join Forces on Venture
PlayMG Corp., San Diego makers of a gaming device aimed at youngsters, and BillMyParents Inc., the company that provides prepaid cards that track spending of same youngsters, announced that each new MG will use the payment service.
Cricket, Radio Shack Collaborate on Wireless Push
Cricket Communications, the subsidiary of San Diego-based Leap Wireless International Inc., and Radio Shack Corp. said the companies joined forces to launch a no-contract wireless service through Radio Shack’s nationwide retail network that includes 4,700 stores.
Dynegy Changes Its Power Plant Demolition Plan
The company responsible for blowing up the South Bay Power Plant in Chula Vista will do it in one bang rather than two as it initially planned, said the Port of San Diego, which is overseeing the project.
Local Talent Pool Draws Intel to San Diego
TECHNOLOGY: Move Ratchets Up Competition With Qualcomm Inc.
The struggle to sign and retain top engineering talent led Santa Clara-based Intel Corp. to open an office in Scripps Ranch.
It’s Official: Padres Sold For $800M
The sale of the San Diego Padres was completed this week to a group headed by beer distributor Ron Fowler, and the O’Malley and Seidler families, the ball club said.
Acquisitions Give Entropic Momentum in Market
TECHNOLOGY: Innovation Is Part of 2 Pronged Strategy
Entropic Communications continues growing in both size and product line.
Miramar Manufacturer Expands Plant
Specialty Manufacturing Inc., a San Diego manufacturer of thermoformed components, said it recently completed a plant expansion and remodeling of its plant in the Miramar area.
USD Economic Index Continues Its Rise
An index measuring the local economy rose 0.3 percent in July, the ninth month in a row that it has increased.
It’s Official: Padres Sold for $800M
The prolonged sale of the San Diego Padres was completed to a group headed by beer distributor Ron Fowler, and the O’Malley and Seidler families, the ballclub said.
Upstart Football League Adds Familiar Names to Board
San Diego-based United States Football League said it added Chris Doleman, a defensive lineman who was inducted into the Pro Football Hall of Fame this year, to its board of advisers.
BofI Tallies Up Record Year
BofI Holding Co., parent of BofI Federal Bank, reported fiscal fourth quarter net profit of $8.2 million, compared with net profit of $5.5 million for the like quarter of 2011.
