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Saturday, May 18, 2024

Week in Review

Quote of the Week

‘ There’s a lot of pulling out of hair and stuff like that but I’m not sure I necessarily agree with all my colleagues where this is the end of the world.’

, Richard Warburg, a partner with Foley & Lardner LLP, referring to upcoming changes to U.S. Patent and Trademark Office rules.

Click here for the story.

Monday, Aug. 27

Single Step Begins Long Journey:

General Dynamics Nassco began construction on the first of a series of tanker ships for a commercial client, New Jersey-based U.S. Shipping Partners.

The 600-foot-long ship will be named Golden State and is expected to go into service in California.

U.S. Shipping Partners placed a $1 billion order for nine ships in August.

Nassco said it planned to lay the Golden State’s keel in December and deliver the ship in early 2009.

The double-hulled ship is designed to haul oil and chemicals.

, Brad Graves

– – –

Taiwanese Company To Buy Gateway:

Personal computer maker Gateway Inc., one of San Diego’s biggest corporate citizens between 1998 and 2004, looked as though it would get a new corporate parent. Taiwanese computer maker Acer Inc. said it will buy Irvine-based Gateway for $1.90 per share, or $710 million, a 57 percent premium over its Aug. 24 share price.

Gateway left its roots in South Dakota for San Diego in 1998. The company moved from Poway to Irvine during Labor Day weekend in 2004.

, Brad Graves

Tuesday, Aug. 28

Not Making Enough Bread:

Kansas City, Mo.-based Interstate Bakeries Corp. said it will shut down four of its Southern California bread bakeries, including its facility on Julian Avenue in Logan Heights, by October. The bakery employs 100. The company, which filed for bankruptcy in 2004, said bread operations in Southern California have not been profitable.

, Brad Graves

– – –

Accountants Flock To North County:

Grant Thornton LLP, a national accounting firm, opened an office in Carmel Valley. The firm has been servicing the San Diego area from its Irvine office for several years, but has decided to expand into the region as part of a strategic growth plan.

The new office has 24 employees, with plans to employ 100 by 2009.

Grant Thornton has 52 offices in the United States. J.D. Power and Associates has recognized it as one of the best audit firms that serves clients with revenues under $1 billion.

, Preet Anand

Wednesday, Aug. 29

Power Alert, Political Message:

The California Independent System Operator declared a Stage 1 electrical power emergency, calling on Californians to voluntarily conserve power. CalISO blamed high temperatures and the low availability of power from outside the state.

The pro-business Community Alliance for the Sunrise Powerlink responded by calling on the California Public Utilities Commission to approve the proposed Sunrise Powerlink transmission line. Environmentalists have opposed the line between San Diego and Imperial County.

, Brad Graves

– – –

North County Leader To Leave Area:

Gary Powers announced his resignation from his positions as Palomar Pomerado Health board member and chief executive officer and president of the San Diego North Chamber of Commerce.

His resignation from both positions will be effective Sept. 21. Then, he will join the staff of the Dahlonega-Lumpkin County Chamber of Commerce in Georgia as CEO and president.

Powers said he and his wife, Sharon, will move to Dahlonega to be closer to family in Charlotte, N.C.

He moved to San Diego in 2001 to work for the Rancho Bernardo Chamber of Commerce, which was consolidated with the I-15 Diamond Gateway Chamber of Commerce in July 2005 to form the San Diego North Chamber of Commerce.

, Jaimy Lee

Thursday, Aug. 30

Dog Days For Economic Index:

The declining trend continued in July for the University of San Diego’s Index of Leading Economic Indicators.

The index fell three-tenths of a point to 136.9. Economist Alan Gin, a professor at the university, released the July numbers Aug. 30.

The index has fallen in 15 of the last 16 months.

Four of six index components improved. San Diego County building permits, San Diego stock prices and the national index of leading economic indicators all registered gains. Initial claims for unemployment insurance fell.

However, consumer confidence and help-wanted advertising for the San Diego region sustained big losses.

, Brad Graves


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