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Week in Review

Friday, March 14

San Marcos Chamber’s CEO Chair Vacant:

Alexandra “Sandy” Rees, who was president and chief executive officer of the San Marcos Chamber of Commerce for the past two years, left the organization abruptly.

The rest of the chamber’s three staff members will carry on its day-to-day activities , including preparing for the Grand Spring Festival and Taste of San Marcos set for April 6 , until a new CEO is found, says chamber Chairman Rod Jones.

“We’ve got a strong group, so it will go on just fine,” said Jones, who adds the chamber board will form a search committee in the near future.

When asked the reason for Rees’ departure, Jones said: “I haven’t been responding to that question. We know why she left.”

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Rees was named to her position in February 2006 after serving as the chamber’s director of development and marketing for a few months. Before that, she worked at Interfaith Community Services and a 3,500-member chamber in Tucson, Ariz.

, Ned Randolph

Tuesday, March 18

From Tech To Translation:

SAIC says that it signed a definitive agreement to acquire SM Consulting Inc., a Linthicum, Md., firm, for an undisclosed price.

SMC offers expertise in linguistic service, providing foreign language translation, interpretation and training services in the defense and intelligence communities.

When the acquisition is completed, expected at the end of April, SMC will join SAIC’s Mission Integration Business Unit, based in Reston, Va. SMC has 460 employees.

Also known as Science Applications International Corp., SAIC is an engineering and research company with about 44,000 employees worldwide, including more than 4,200 in San Diego.

, Mike Allen

– – –

Arkeia Achieves Milestone:

Arkeia Software says that it has secured its 100th government customer. With headquarters in Paris and, locally, in Carlsbad, the company offers data protection hardware and software programs.

Nine of NASA’s flight and research centers use Arkeia technology. The programs are designed to cater to the complex nature and massive sizes of governmental agency networks, such as those used by the National Institutes of Health, U.S. Geological Survey and various military branches.

, Cassy Dump

Wednesday, March 19

CardioNet Dances To New Beat:

CardioNet Inc., a San Diego-based maker of heart monitoring devices, issued 4.5 million shares of its stock on Nasdaq at $18 per share, raising about $50 million for its portion of equity offering.

The issue price was at the low end of what the company had planned. At the end of the first day of trading, shares were at $17.70.

The company says it plans to use proceeds to repay a loan from Silicon Valley Bank, continue research and development, build inventory, increase sales and marketing, and hire staff. The firm also plans to use a portion of the proceeds to acquire or license products, technologies and businesses.

Additionally, it will use funds to reimburse former shareholders of PDSHeart Inc., a cardiac monitoring company that CardioNet acquired a year ago.

The stock’s ticker symbol is BEAT.

, Mike Allen

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Ex-Congresswoman Schenk Joins Sempra:

Sempra Energy says that it has named Lynn Schenk, a former congresswoman, to its board of directors.

Schenk, 63, is an attorney in private practice. She is a director of The Scripps Research Institute and Massachusetts-based Biogen Idec. She also serves on the San Diego Consortium for Regenerative Medicine board, and the state high-speed rail authority board.

Sempra shareholders will decide whether to re-elect Schenk during the company’s annual meeting in May.

Schenk was chief of staff to then-Gov. Gray Davis from 1999 to 2003. She served in Congress from 1993 to 1995, in California’s 49th District.

According to a federal securities filing, Schenk will receive options to purchase 15,000 shares of Sempra common stock at $51.27 per share , the stock’s March 18 closing price. She may exercise the options within 10 years.

, Brad Graves


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