Quote of the Week
‘Clearly, the dysfunction at City Hall is a major deterrent to developers.’
, Mark Fabiani, point person for the San Diego Chargers’ proposed stadium project.
Click here for the story.
Friday, Aug. 31
Teach-In Ties Up Traffic:
A morning teacher protest on the Tijuana side of the U.S.-Mexico border blocked auto traffic headed into the United States. Meanwhile, authorities on the U.S. side of the border diverted southbound traffic away from the Otay Mesa and San Ysidro passenger crossings during the protest, which by one account lasted from 9 a.m. to 12:30 p.m. Traffic flowed uninterrupted at the Otay Mesa truck crossing, a spokesman for U.S. Customs and Border Protection said.
, Brad Graves
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From Park Avenue To West Broadway:
The Mark Ross Group of Companies Ltd., an insurance company, said it opened a San Diego office on West Broadway.
It is the third U.S. office for the group, which is based on Park Avenue in New York. The company reports that it has been getting more demand for its services from California.
The company said it will use its office in downtown’s Emerald Plaza to conduct its insurance and other financial sector businesses. The company provides a number of products and services in the life insurance sector in the primary and secondary markets.
, Brad Graves
Tuesday, Sept. 4
Partnership’s Leadership In Transition:
Larry Fitch, chief executive for the San Diego Workforce Partnership, the region’s job training agency, said he’ll likely step down from the job at the end of this year.
“I just think it’s time. I’ve been the CEO for almost 11 years and in our world that’s a long time,” Fitch said.
Fitch made his intentions known in a personnel memo that was leaked to a daily newspaper. Fitch declined to comment about the memo, saying it would violate the Brown Act, the state’s law covering public meetings and documents.
Earlier this year, Fitch was on the hot seat when the agency revealed that an audit conducted by the federal Office of Inspector General uncovered some problems on how it managed and spent its funds, nearly all of which come from federal grants.
The Workforce Partnership said that during the audited period, federal auditors found $1.49 million that was identified as “questioned costs that the OIG feels may not be allowable.”
The agency is still negotiating with the Department of Labor about whether it has to return certain funds, and Fitch said he had no idea of when that process would be completed.
Fitch oversees the job training agency that had a 2007 budget of $21 million and about 75 employees.
, Mike Allen
Wednesday, Sept. 5
Tarari Snapped Up:
Tarari Inc., a San Diego semiconductor company, said it has agreed to be acquired by LSI Corp., a Milpitas semiconductor firm, for $85 million in cash.
Founded in 2002 by a group of former Intel Corp. managers, and with a minority equity investment from the Silicon Valley chip maker, Tarari attracted $42 million in venture capital investment during its existence.
The company makes hardware and software products that enable telecom networks to process content at much higher speeds.
Privately held Tarari, which doesn’t provide revenue figures, has about 45 employees.
Upon completion of the acquisition, expected in the fourth quarter, Tarari’s employees and products will be integrated into LSI’s network and storage products group, LSI said.
LSI, traded on the New York Stock Exchange under LSI, reported 2006 net income of $169 million on revenue of $1.98 billion, and has about 4,000 employees. In midday trading Sept. 5, shares were down 15 cents from the prior day’s closing price to $6.91.
, Mike Allen
Thursday, Sept. 6
SAIC Fills Long-Vacant Job:
SAIC, also known as Science Applications International Corp., named Lawrence Prior its new chief operating officer. Prior starts the job Oct. 1. He will be based in McLean, Va.
Prior is president of SAIC’s intelligence, security and technology business group. Previously, he was chief executive for San Diego-based LightPointe Communications and chief administrative officer for the county of San Diego.
The COO’s job at SAIC had been left vacant following the retirement of Duane Andrews in 2006, said a company spokeswoman. Andrews left the COO’s job Feb. 24, 2006, and retired April 15 of that year.
, Brad Graves
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Colorado Retailer Lands On Girard:
Pharmaca Integrative Pharmacy opened at 7650 Girard Ave. in La Jolla. The 5,700-square-foot store will employ about 20 people.
The Boulder, Colo.-based pharmacy fills prescription drugs as written by a doctor, and each store has a staff of nutritionists, aestheticians, herbalists and homeopaths to recommend over-the-counter medicines.
, Liz Wiedemann