Business Briefs
Business Week
Honors Jacobs
Qualcomm Inc.’s founder and CEO Irwin Jacobs this month was named one of 1999’s top 25 corporate managers in the world by Business Week.
The Jan. 10 issue listed Jacobs’ accomplishments for the year as the rise of Qualcomm share prices by 1,900 percent, profits up 85 percent to $200 million, and adoption of the firm’s CDMA wireless technology as a global standard for cell phones.
Business Week polled its staff of writers and international correspondents for nominees for the honor. Final selectees were chosen after researching their company’s financial and stock performance.
AOL, Gateway Launch
Pilot DSL Program
America Online and San Diego-based Gateway Inc. are launching a pilot program to introduce high-speed digital subscriber line (DSL) access to consumers in Timonium, Md., and San Diego.
The pilot program, part of a joint-venture agreement announced in October, will be run from Gateway Country stores in those cities, with sales people conducting “hands-on” demonstrations of AOL Plus via DSL.
AOL President Bob Pittman said the strategic alliance with Gateway, the country’s top ranking PC manufacturer, gives the Internet giant the chance to expand its DSL service as consumers purchase new computers.
Harrah’s Signed to
Build Rincon Casino
A subsidiary of Harrah’s Entertainment, of Las Vegas, has been signed by the Rincon San Luiseno Band of Mission Indians to develop and operate a $100 million casino and hotel project on Rincon tribal land in Valley Center.
The agreement is the first reached between a California Indian tribe and a major gaming company.
Rincon Tribal Chairman John Currier said Harrah’s was chosen after considering several companies. “Important in our decision is (the fact) that Harrah’s did not oppose California Proposition 5.”
Proposition 5, the voter-approved ballot initiative allowing casinos on tribal lands, was strongly opposed by many Las Vegas gaming interests.
Delimex Expands
Production Facilities
Delimex, a producer and distributor of frozen Mexican foods, announced a major facilities expansion program that will increase the size of its 90,000-square-foot manufacturing plant in San Diego by more than one-third.
The construction program will begin with a 9,500-square-foot addition that will be allocated between additional office space and onsite storage space.
Phase I should be completed in the first quarter of 2000 and will be followed by a 22,000-square-foot expansion of the company’s manufacturing areas, including investment in additional manufacturing lines, automated packaging machinery and an expansion of refrigeration capacity.
Phase II will be finished in the third quarter of this year. The total amount of the capital expenditure program will exceed $8 million.
Headquartered in San Diego, Delimex has about 700 employees and operates manufacturing facilities in Monterrey, Mexico, as well as San Diego.
Software Developer
Gets $1M in VC
La Jolla-based Mohomine has received more than $1 million in seed capital from a syndicate of investors, according to Neil Senturia, chairman of the board and chief executive officer.
According to Senturia, the proceeds from this initial round of funding will be used to expand the staff of software developers at Mohomine’s headquarters in San Diego.
Late last year, the company launched mohoEngine, a new and proprietary “smart” search engine platform utilizing artificial intelligence technology.
Immune Response Gets Final Agouron Payment
Carlsbad’s Immune Response Corp. received a $5 million payment from Agouron Pharmaceuticals, Inc.
The payment was the last of six quarterly payments that Immune Response received under the terms of a collaboration for development and commercialization of Remune, an immune-based therapy currently in pivotal trials for the treatment of HIV infection.
Under the collaboration, Immune Response may receive up to an additional $30 million in milestone payments. The two companies will share any profits from the commercialization of Remune on a 50/50 basis.
AMCC Breaks Ground
On New Expansion
San Diego’s Applied Micro Circuits Corp. broke ground last week on a new 62,000-square-foot complex, spanning the three acres adjacent to the company’s existing corporate headquarters.
The new facility will provide 220 offices primarily for AMCC’s engineering talent. Its scheduled completion is Sept. 1.
AMCC produces high-bandwidth silicon technology for optical networks.
, Edited by Martin Hill
