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Wednesday, Jul 17, 2024

Week in Review

Quote of the Week

‘San Diego’s economy has become increasingly more dependent on the high value, high wage jobs created by technology and life science firms, which allow our region to compete in the global economy.’

, Connect CEO Duane Roth. Click here for the story.

Friday, March 16

Hawaii Hop:

Hawaiian Airlines resumed daily nonstop service between San Diego and Maui, using a Boeing 767-300 that carries 250 passengers.

Competitor Aloha Airlines also provides a daily flight between San Diego and Maui.

, Connie Lewis

Monday, March 19

European Front In Patent Fight:

Finland-based Nokia filed complaints against Qualcomm Inc. with courts in Germany and the Netherlands. Nokia is alleging that certain Qualcomm patents are “exhausted.”

In a statement released the next day, Qualcomm dismissed the action as a legal maneuver. Qualcomm is involved in other legal disputes with Nokia. A key licensing agreement between Nokia and Qualcomm expires in April.

, Brad Graves

Tuesday, March 20

Court Won’t Revisit Stem Cell Decision:

The 1st District Court of Appeals in San Francisco that recently ruled in favor of California’s stem cell institute denied two requests for a rehearing in the lawsuit that charged Proposition 71 was unconstitutional.

A spokesman at the California Institute for Regenerative Medicine, Dale Carlson, said his agency “fully expects” the challengers to appeal the decision to the Supreme Court of California. Plaintiffs must do so by April 6. The court then has 90 days to decide whether to accept the case.

The challengers who filed for rehearing and sued after voters approved $3 billion for human embryonic stem cell research in 2004 are the California Family Bioethics Council, along with the People’s Advocate and National Tax Limitation Foundation. They are represented by the Life Legal Defense Foundation.

The appellate court ruled unanimously Feb. 26 that Proposition 71 “suffers from no constitutional or other legal infirmity.”

Funding for research had been held up by the legal battle, but this month, CIRM announced more than $100 million in grants by way of state loans and private donors.

, Katie Weeks

Wednesday, March 21

Duking It Out In D.C.:

The U.S. International Trade Commission took up one of the matters that has pitted San Diego chip-maker Qualcomm Inc. against Irvine-based Broadcom Corp.

At issue was whether companies could continue to import products holding some disputed Qualcomm technology.

An administrative law judge ruled Oct. 10 that Qualcomm infringed portions of one Broadcom patent, while ruling that the San Diego company did not infringe two other patents. The commission was to discuss a “remedy,” or penalty, for the issue.

The hearing came one week after Qualcomm and Broadcom settled two lawsuits that would have resulted in five jury trials. The first of the trials was to have begun March 19.

The two-day hearing was notable because it was public, according to Lyle Vander Schaaf, a former commission attorney now with Bryan Cave LLP in Washington, D.C.

, Brad Graves

– – –

Company Assets Sold, CEO Bids Adieu:

Advanced Marketing Services Inc., the bankrupt San Diego book distribution company, said CEO Gary Rautenstrauch, who came on board last year, resigned following the completion of the sale of the majority of its assets to a rival book distributor, Baker & Taylor Inc.

AMS said Curtis R. Smith, the company’s chief financial officer, was named chief executive officer, and will supervise the winding-down of the company’s business operations.

Rautenstrauch, who was hired in May, worked for 22 years at Baker & Taylor, including serving as the Charlotte, N.C., firm’s chief executive for two years.

At AMS, Rautenstrauch collected a $125,000 bonus on top of a base salary of $450,000.

AMS filed for Chapter 11 bankruptcy Dec. 29 after three years of dealing with a federal investigation into an accounting fraud scheme that required it to restate financial results for five years.

Three former AMS executives pleaded guilty to fraud in the case that federal prosecutors say hasn’t closed yet.

, Mike Allen

Editor’s Note: The Business Journal incorrectly reported the amount of a bonus paid to Gary Rautenstrauch, the former CEO of Advanced Marketing Services Inc. The amount has been corrected here.


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