| San Diego Business Journal

Stories for January 2013

Thursday, January 31

Pebblebrook Buys Downtown Embassy Suites for $112.5M

Maryland-based Pebblebrook Hotel Trust has acquired the 337-room Embassy Suites San Diego Bay in downtown San Diego for $112.5 million.

AIS to Provide Services for Innovative Internet Radio Venture

American Internet Services announced a new customer win recently. The business said it will provide infrastructure for DAR.fm, an Internet radio venture from San Diego serial entrepreneur Michael Robertson.

Isis Pharmaceuticals Shares Rise After FDA Approves Cholesterol Drug

Shares of Carlsbad-based Isis Pharmaceuticals Inc. have risen nearly 10 percent since the Jan. 29 announcement that its flagship cholesterol drug, Kynamro, was approved by the U.S. Food and Drug Administration.

Websense Inc. Reports Net Income of $3.8M for Q4

Websense Inc., the San Diego makers of Web filtering software, reported 2012 fourth quarter net income of $3.8 million, compared with net income of $10.4 million for the like quarter of 2011.

Local Construction Contracts Declined 18 Percent in 2012

San Diego County finished 2012 with future construction contracts down 18 percent from 2011, according to new data reported by McGraw-Hill Construction.

San Diego Padres’ Fanfest to be Held Feb. 9

Fanfest, the San Diego Padres free, one-day promotion of the team in advance of the season, happens Saturday, Feb. 9 at Petco Park.

Health Care Reform Examined in Business Journal Event

The San Diego Business Journal will host an informative panel discussion on the current and future state of health care reform Tuesday, February 12.

Wednesday, January 30

Afraxis Enters Licensing Deal with Genentech to Develop Compounds

San Diego-based biotechnology firm Afraxis Inc. has entered into a global licensing agreement with San Francisco-based Genentech, a member of the Roche Group, to develop compounds for an undisclosed genetic target.

Silvergate Bank Reports Net Income of $2.5M for Q4

Silvergate Bank, based in San Diego and with five branches, reported fourth quarter net income of $2.5 million compared with $2.36 million for the like quarter of 2011.

Japan Airlines Cancels Six Local February Flights

Japan Airlines has canceled six Sunday flights scheduled for its San Diego-Tokyo direct service through Feb. 17, following the recent global grounding of the Boeing 787 Dreamliner aircraft.

San Diego Trust Bank Reports Audited 2012 Net Income of $1.82M

San Diego Trust Bank reported audited 2012 net income of $1.82 million, up 13 percent from $1.61 million for the prior year.

Del Mar Village Association Debuts Visitor Center

The nonprofit Del Mar Village Association has opened a new visitor center, with information on local hotels, dining, special events and activities in the city.

Finalists Tapped for Top Real Estate Deals of the Year Event

Reinvented retail space, master-planned, eco-friendly apartment communities, and tricked-out tech complexes are just a few of the innovative, lucrative deals struck by San Diego’s real estate masterminds in 2012.

Tuesday, January 29

General Dynamics Nassco to Design Liquefied Natural Gas Propulsion System

General Dynamics Nassco said early this week that it has signed a contract with Totem Ocean Trailer Express to design a new liquefied natural gas propulsion system for two ships in the TOTE fleet.

Cubic Corp. Announces Development of Crowd Management Technology

Cubic Corp. said recently that it is developing technology that would help civil authorities manage large crowds of people that flow in and out of events.

Investment Firm Makes $50M in Home-Lot Acquisitions

Investment firm Isles Ranch Partners LLC recently completed $50 million in acquisitions in four Southern California residential building projects, including three in San Diego County.

SDG&E Releases Energy Usage Monitoring App

San Diego Gas & Electric has released an app that will allow customers to check their recent energy use, set and manage energy saving goals, and track weather patterns related to energy use.

La Jolla Apartments Sell for $8.95M

Private investors based in La Jolla have purchased the 17-unit In Eden apartment complex in La Jolla for approximately $8.95 million, according to CoStar Group.

Christopher Weil & Co. Launches Partnership Program

Christopher Weil & Co. Inc., a San Diego-based financial services firm, said it launched an Investors Managers Advisors Partner Professionals, a program aimed at attracting and retaining experienced practitioners in multiple disciplines to partner with CWC to serve its clients.

Universal Consensus to Work With Aon Hewitt on M&A Consulting

Universal Consensus LLC, a Carlsbad-based cross-cultural management consulting firm, said it is collaborating with Aon Hewitt, one of the world’s largest human resources companies, to help Aon in its advisory work involving international mergers and acquisitions.

Monday, January 28

Taylor Guitars Shows Off New Model

El Cajon-based Taylor Guitars has introduced a new model of guitar — and it’s a big one.

Capstone Acquires Riverside County Retail Center

Carlsbad-based Capstone Advisors recently purchased Heritage Court, a neighborhood retail Center in Indio, for $4.75 million.

TVC Capital Invests $4.5M in Levels Beyond

TVC Capital, a San Diego private equity firm focused on the software industry, said it recently invested $4.5 million in Levels Beyond, a Denver company that provides streamlined media management, distribution, and financial capabilities for video content producers.

Trader Joe’s Opens New Store in Mission Valley

Specialty grocer Trader Joe’s has opened its 13th San Diego County store at the Westfield Mission Valley West retail center, occupying a portion of the space that formerly housed a Borders bookstore.

San Diego to Host Pacific Rim Summit on Biotech and Bioenergy

San Diego will host the 2013 Pacific Rim Summit on Biotechnology and Bioenergy this December. The conference will focus on the growth of the industrial biotech and bioenergy sectors in North America and the Asia-Pacific region.

San Diego Business Journal Seeking Best Places to Work Nominees

Nominations for the San Diego Business Journal’s Best Places to Work Awards are now open.

Zagat Releases Annual Guide for San Diego Eateries

Popular consumer restaurant rating service Zagat’s has released its annual San Diego City Guide, with few surprises — and long list of places to eat in 2013.

Q & A

Advertorial: Technology Driving Business Series I Supplement

This is the first issue in an insightful new series from the San Diego Business Journal that features advice and commentary from regional experts on various aspects of technology and its applications in our new digitally-driven business world.

Seven Big Trends for Small Businesses in 2013

Advertorial: Technology Driving Business Series I

Today, if you tell someone you’ll be in touch, he or she may not only ask when, but how. Modern technology has dramatically changed the way we communicate, providing multiple ways to stay connected at any time.

Grant Will Help Give Youth That Priceless Second Chance

Second Chance, an organization providing job readiness training programs, received a two-year $820,000 grant from STRIVE through the U.S. Department of Labor-funded program, STRIVE for the Future.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

Executive Profile: Lynn LaChapelle

As a Regional Director of Investment Sales, Lynn LaChapelle executes Capital Markets transactions with a focus on Southern California.

Experts Predict Rising Demand for Existing Properties in 2013

COMMERCIAL: Vacancy Decreases, Rent Increases Draw More Investors

San Diego-based BCL Inc. went shopping for office buildings and found two local properties matching its sweet-spot criteria in the final months of 2012.

Creating Centers of Attention

RETAIL: Shopping Hubs ‘Make a Scene’ Through Renovations

Jeffrey Essakow likens the recent local wave of big-money retail center renovations to the shakeup that occurred when Tiger Woods began dominating the pro golf circuit a decade ago. “It forced all of the other players to improve their game,” said Essakow, CEO of Protea Properties LLC of La Jolla, which owns the newly renovated Flower Hill Promenade in Del Mar.

Sudberry Properties Taps a Rich Vein of Retail Work

This will be a busy year in retail for locally based developer Sudberry Properties, which is nearing completion on a Carlsbad shopping center and moving ahead with planning for two large projects in San Diego.

Accion San Diego Sets Record With Its 2012 Lending

There was nothing micro about Accion San Diego’s lending last year.

Ogletree Deakins Arrives With Local Litigator at Helm

Ogletree, Deakins, Nash, Smoak & Stewart, P.C. is opening a San Diego office.

Region Takes Leading Role in Using Electronic Health Records

HEALTH IT: RAND Corp. Revises Potential for EHR Cost Savings Downward

Electronic health records haven’t achieved the health care cost savings that were initially expected, according to a new analysis from the global policy think tank RAND Corporation. But there’s a notable exception: San Diego.

There Is Room for Improvement Following 2012’s Hotel Sales

HOSPITALITY: Experts See Investors, Favorable Financing Fueling Deals

San Diego County’s hotel investment sales trends checked back into historical reality in 2012, following a 2011 series of high-profile trophy acquisitions that pushed local deal volume for that year well above $1 billion.

SweetLabs Finds Window(s) Of Opportunity in Start Menu

TECHNOLOGY: Firm Also Aims to Improve ‘Neglected’ PC Platform

Microsoft is moving on, moving on with a dramatically redesigned Windows 8 operating system. But some personal computer users aren’t so eager to follow.

Taaz’s Mirrors Reflect Modern Retail Scene

San Diego-based TAAZ Inc. recently announced that the company installed 10 virtual try-on mirrors in Marks & Spencer locations, a leading retailer in the United Kingdom.

Region Attracts Over $1B in Venture Funding in 2012

INVESTING: Life Sciences Pulls in the Majority of the Dollars

Venture funding into San Diego companies last year passed $1 billion, the first time that’s happened since 2008, according to the latest MoneyTree Report.

MOGL’s Rewards Program Is in Virgin Territory

MARKETING: Airliner And Firm Share Charitable And Demographic Interests

After winning over a crucial customer for its tech-enabled restaurant rewards program — billionaire Sir Richard Branson — locally based MOGL has landed Virgin America Inc. as its first airline partner.

Leave it to Bieber

MARKETING: Debit Card Business Uses Pop Star to Connect With Its Demographic

A San Diego debit card business that has yet to make a profit hopes to grab some attention and lots of new customers by signing an endorsement deal with arguably the biggest pop star today Justin Bieber.

Eyewear Targets the ‘Site-Seeing’Crowd

OPTICS: Computer Glasses Need Is Big in an Online World

What makes a good business plan? “You look for uncharted territory with little competition and massive market potential,” said Joe Croft.

Many of the Region’s Residents Head for Exit

PLANNING: Slow Recovery, State’s Condition Spur Moves

Once a beacon for many transplants from other states seeking a new life, San Diego has been undergoing a dramatic shift in its population as more folks decide to relocate to greener pastures.

Life Technologies Buys, As Talk of Sale Continues

BIOTECH: Firm Still Pursuing Its Strategy of Acquisitions

On the heels of the widespread speculation that Life Technologies Corp. is exploring a possible sale, the Carlsbad-based company has announced that it will acquire Netherlands-based protein purification company BAC BV.

Flights to Tokyo Hit the Dreamliner Skids

TRAVEL: Daily Service Launch in Limbo; Boeing 777 to Take Over Route

Experts are uncertain whether the grounding of Boeing’s 787 Dreamliner will also put a damper on Japan Airlines’ scheduled March 1 launch of daily local service between San Diego and Tokyo.

Friday, January 25

Trius Therapeutics Announces $34.1M Public Offering

San Diego antibiotic developer Trius Therapeutics Inc. has announced a public offering of about $34.1 million.

Reno Contracting Completes Solar Project with SunEdison

Reno Contracting, a locally based general contractor, announced the installation of a 2.6-megawatt solar photovoltaic system at California State Prison Lancaster for SunEdison.

Cymer Stock Continues to See Gains After Oct. Merger Announcement

Shares of San Diego’s Cymer Inc., the makers of laser equipment used in the manufacture of semiconductors, gained $2 to close at $98.70 on Jan. 24 on the Nasdaq exchange, and have been rising steadily since the company announced merging with Holland’s ASML Holding NV in October.

San Diego Venture Group Announces Board Changes

The San Diego Venture Group named its board of directors for 2013, adding eight new members and acknowledging five retiring members.

Local Firms Make Fortune’s “100 Best Companies” Ranking

San Diego-based Qualcomm Inc. and Scripps Health were among companies landing on Fortune magazine’s recently released list of the “100 Best Companies to Work For” in the United States.

Health Care Reform Examined in Business Journal Event

The San Diego Business Journal will host an informative panel discussion on the current and future state of health care reform Tuesday, February 12.

Finalists Tapped for Top Real Estate Deals of the Year Event

Thursday, January 24

OneRoof Energy Receives $30M Capital Investment

San Diego-based residential solar finance provider OneRoof Energy Inc. received an additional $30 million in capital investment from majority shareholder Hanwha International LLC, a South Korean business conglomerate.

Quake Global Acquires RFID Solutions Designer ODIN Technologies

Quake Global Inc., a maker of satellite tracking and monitoring devices, said it acquired ODIN Technologies Inc. of Washington, D.C. for an undisclosed price.

Rancho Bernardo Office Buildings Sell for $53M

Drawbridge Realty Trust LLC of San Francisco has purchased two Rancho Bernardo office buildings for $53 million, in an off-market transaction.

Local Firm Buys Two Apartment Communities for $44.5M

San Diego-based MG Properties Group has purchased two California apartment communities, totaling 294 units, for a total of $44.5 million.

Wednesday, January 23

Leap Wireless Scales Back Distribution; Cuts 120 Jobs

Leap Wireless International Inc., the San Diego- based provider of flat rate, prepaid cellphone services called Cricket, said it scaled back the retail distribution partners, keeping two major chains Wal-Mart and Radio Shack following the company’s decision to improve customers’ buying experiences.

Taaz’s Virtual Mirrors Reflect Changing Retail Scene

San Diego-based TAAZ Inc. recently announced that the company installed 10 virtual try-on mirrors in Marks & Spencer locations, a women’s retailer in the United Kingdom.

S&P Boosts Housing Commission’s Debt Rating to AA

Standard & Poor’s Rating Services issued an AA rating on debt by the San Diego Housing Commission, bumping it up two notches from the prior rating of A+.

Gaslamp Retail Building Acquired for $17.1M

Paragon Real Estate Fund of La Jolla has purchased the Bridgeworks retail condominium in the Gaslamp Quarter. The price was $17.1 million, according to CoStar Group.

SeaPort Airlines Plans New Local Flights to Imperial County

SeaPort Airlines plans to offer new flights between Imperial County Airport and San Diego International Airport starting March 1.

Tuesday, January 22

Mayor Vetoes Appointments to Port Commission

Mayor Bob Filner vetoed two appointments to the San Diego Port Commission, saying he wanted to wait until a vacancy is filled on the City Council to make new appointments.

Developer Obtains Financing for Carlsbad Condos

Real estate investment banking firm George Smith Partners has arranged $13 million in joint-venture equity for client Zephyr Partners of San Diego, for a 35-unit condominium community being planned by Zephyr in Carlsbad.

Defense Industry to Converge on San Diego

San Diego defense contractors have their annual chance to hear from their customers — and perhaps get some insight into the murky federal budget situation — when the West 2013 conference brings military leaders to town for three days at the end of the month.

West Broadway Section Closing for Embarcadero Work

A portion of West Broadway in downtown San Diego will be temporarily closed to vehicle traffic starting Jan. 23, as work proceeds on improvements along the North Embarcadero.

Software San Diego Executive Director Steps Down

Bob Slapin, who headed up Software San Diego for about 12 years, resigned from his job as executive director but continues as a director.

Monday, January 21

Life Technologies Said to Be Exploring Possible Sale

Life Technologies Corp. may be exploring a possible sale and has reportedly retained banks to assist in the process. Stock shares surged Jan 18 for Life Technologies, San Diego’s largest biotechnology firm and third-largest public company, rising about 11 percent to $60.79 at market close on Jan. 18.

Alaska Airlines Announces San Diego Flight Attendant Base

Alaska Airlines recently announced that the company will open a flight attendant base in San Diego, the fifth base in the airline’s network.

Airport Authority Issues Low Interest Bonds for Green Build Project

Nearly $400 million in revenue bonds issued Jan. 16 by the San Diego County Regional Airport Authority, the agency that manages Lindbergh Field, garnered a remarkably low 3.92 percent interest rate from investors.

Legoland Hotel to Boost Park’s Employment By 250

Legoland California Resort anticipates adding 250 employees, as a new on-site hotel and other attractions open at the Carlsbad theme park in coming weeks.

Trigild Agrees to Manage 16- Building Office Portfolio

San Diego-based real estate services provider Trigild has entered into a long-term contract to manage a 16-building office portfolio held by Allegiance Realty Corp. of Charlotte, N.C.

San Diego’s Unemployment Rate Drops in December

San Diego’s unemployment rate dipped to 8.1 percent in December, down from a revised 8.4 percent in November, the lowest it’s been since December 2009 when it was 7.4 percent, according to the state’s Employment Development Department.

Grant Will Extend Symphony’s Community Outreach

The San Diego Symphony received a $580,000 grant from the James Irvine Foundation

Are California’s tax laws anti-competitive? Do they drive away business?

ADVERTORIAL: Accounting/Tax Law Roundtable Supplement

California is a wonderful place to live and work – our geography is beautiful, we have a desirable climate, and the state is resource rich.

Do you anticipate a 2013 budget deal will include an investment tax credit for capitalized acquisitions? What advice do you have for businesses making capital purchases in the coming year?

ADVERTORIAL: Accounting/Tax Law Roundtable Supplement

The investment tax credits have been limited mainly to alternative energy credits since 1986.

What are some common tax related risks and opportunities facing privately held business today?

ADVERTORIAL: Accounting/Tax Law Roundtable Supplement

Not keeping up with tax compliance can be devastating. With an arsenal of weapons to enforce compliance

Market Trends Bring Housing Developments

REAL ESTATE: Developer Moves Ahead With Projects

Prominent local builder The Corky McMillin Cos. will be responding to the newly awakened housing market by pressing forward this year on two San Diego County projects long delayed by a sluggish economic recovery.

Phase 1 Complete on Sempra U.S. Gas & Power’s Solar Plant in Arizona Sempra U.S. Gas & Power, a su

Sempra U.S. Gas & Power, a subsidiary of San Diego-based Sempra Energy, said it completed the first phase of its Mesquite Solar 1 plant, located near Phoenix.

Sanford-Burnham Executive Takes Helm of Roche Holding AG

John C. Reed has resigned from his role as CEO of the La Jolla-based Sanford-Burnham Medical Research Institute to head Swiss biotechnology giant Roche Holding AG’s pharmaceutical

Small-Business Model Can Work in a Big Way

Although American small-business owners survived Washington’s fiscal cliff fiasco, few of them are dancing in the streets.

Sequestration: It Is Time to Plan, Not Panic

Despite the recent fiscal cliff aversion, the talk of impending doom remains rampant with “sequestration” still on the horizon.

Veto Threat Leaves New Port Appointees Adrift

The filling of two vacancies on the San Diego Port Commission is in doubt following statements from San Diego Mayor Bob Filner

Shareholders Approve $3B Acquisition By Realty Income

Shareholders of both companies have approved the acquisition of American Realty Capital Trust by Escondido-based Realty Income.

Conditions Limit the Local Distressed Property Market

REAL ESTATE: Firms Pursue Opportunities in Other Areas of the U.S.

When it comes to work assignments and investments tied to distressed commercial real estate, most opportunities landing on the doorsteps of locally based firms are originating far beyond San Diego County’s borders.

Score Launches Forum for Peers To Talk Business

Nonprofit business adviser San Diego Score announces the launch of a new program to offer one-on-one assistance to entrepreneurs in search of advice on how to better run their businesses.

Trading Card Innovator Leaves Lasting Legacy

SPORTS BIZ: Upper Deck Deals With CEO’s Passing

The untimely death of Upper Deck Co. co-founder and CEO, Richard McWilliam rocked a company already shaken by a spate of legal conflicts over the past several years.

Group Is Part of New Approach to Medicare

MEDICINE: ACOs Organize Treatment in Cost-Cutting Effort

A new, physician-led Accountable Care Organization formed this month in San Diego, with aims to cut systemic Medicare costs by streamlining patient care.

Combined Forces Tackle Aircraft Maintenance

AVIATION: In FY 2012, Navy, Contractors Do 227 Overhauls

The biggest aviation shop in the region belongs to General Atomics Aeronautical Systems Inc., which counts 4,400 employees in San Diego County.

Socket rocket

AUTOS: More Models Help to Drive Local Sales of Electric Cars

Paul Schulman has a big birthday coming up and he’s thinking about a big purchase: an electric car.

Real Estate ROUNDUP

Canter Cos. and InDev: Invest + Develop announced that construction of their joint-venture project, the C2 Lofts, is now under way.

Real Estate Legal Work Should Increase With Improving Market

PROPERTY: New Laws Open Doors To More Litigation

The real estate legal community was arguably hit hardest of all practice areas in the economic crash of 2007 and 2008.

Professional Profile: John Gomez

John Gomez is the president and founder of the Gomez Law Firm

Government’s Search for Money Fuels Tax Attorney Work

TAX: Changes To Tax Laws Increase Need for Good Advice

The political discord that ultimately lead to passage of the American Taxpayer Relief Act of 2012, or ATRA, drove a lot of legal business to San Diego tax lawyers, which was a financial relief, but a work burden.

Knowing Your Way ‘Around Washington’

LAW: Complying With Federal Contracting Rules Requires Expert Guidance

President Obama does not trust defense or other governmental contractors, and he’s deployed an army of auditors to determine whether his mistrust is misplaced.

Fixed Fee Arrangements a Popular Option for Some Local Law Firms

TRANSACTIONS: Billing Strategy Brings Profitability In Line With Accountability

Law firms and legal organizations around the country are arguing whether the traditional “billable hour” can serve as both a measure of the firm’s productivity and profitability at the same time.

Employment Law in 2013

EMPLOYMENT: Brinker, Bullying, Commission Sales Are Among Changes

California has a tradition of dumping a number of new employment laws on employers to begin each year.

SD REGIONAL REPORT

Locally based Recht Family Trust has purchased the 58-unit Greenfield Estates apartment complex in El Cajon for $8 million.

Disaster Plans Must Be Tailored to Each Business’s Needs

PLANNING: Versatility Is Also Required to Ensure Continuity in a Crisis

The market for business continuity and disaster recovery services is definitely not one-size-fits-all.

Data Centers Offer Workspace for Customers in Emergencies

TECHNOLOGY: Clients Can Maintain Key Services At Functioning Facilities

San Diego area data center operators are offering more than just space for computers. They are making space for people too.

Leadership Changes Follow Acquisition of Local Bank

As expected, Regents Bank, now owned by Los Angeles-based Grandpoint Capital, named Steven Sefton as its new chief executive officer

Qualcomm Study Highlights Technology’s Role in Region

TECH: Company and Other Innovative Firms Called ‘Economic Engine’

Qualcomm Inc. used to keep its San Diego local employment number close to its corporate vest

Protein Fragment Paints A Target on Cancer’s Back

MEDICINE: It May Save Healthy Tissue From Surgeons’ Knife

When a cancer patient is on the operating table, surgeons have to determine on the spot which lymph nodes are healthy and which need to be removed.

Friday, January 18

Japan Airlines Cancels 8 San Diego Flights

Japan Airlines has canceled eight flights scheduled to run between Tokyo and San Diego from Jan. 19 to Jan. 25, following the global grounding of Boeing Corp.’s 787 Dreamliner aircraft related to battery malfunctions.

Dunkin’ Donuts Looking to Expand San Diego Footprint

Dunkin’ Donuts plans to expand its presence in San Diego County and elsewhere in Southern California, as it seeks franchisees for restaurants expected to open starting in 2015. The company’s only current Southern California location is at Marine Corps Base Camp Pendleton near Oceanside.

New Urgent Care Opens in North County

MD Today Urgent Care plans a grand opening Jan. 30 at its new clinic in the North County area.

Business Brews in San Diego County

Manzanita Brewing Co. said it sold its original brewery to San Diego-based Butcher’s Brewing for an undisclosed price.

Wells Fargo & Co. Hosts Workshop for Distressed Borrowers

Wells Fargo & Co., now the largest mortgage lender in the nation, said it will host nine home preservation workshops for distressed borrowers facing financial hardships, including one in San Diego on March 21.

Thursday, January 17

Shareholders Approve $3 Billion Acquisition By Realty Income

Shareholders of both companies have approved the acquisition of American Realty Capital Trust by Escondido-based Realty Income. Realty Income officials said the transaction, valued at approximately $3 billion, is expected to close by month’s end.

San Diego’s Median Home Price Rises in December

San Diego’s median priced home was $366,000 in December, up 16 percent from the prior year’s December, and 2 percent above the median price for the county in November, according to the latest report from Dataquick, a San Diego-based real estate research firm.

Kimco Takes Full Ownership of Santee Retail Center for $98M

Kimco Realty Corp. of New York has acquired full ownership of the three-building Santee Trolley Square Town Center retail plaza, at a gross purchase price of $98 million.

DoD Lab Employee Gets IT ‘Hero’ Honors

The Department of Defense has singled out a U.S. Navy lab civilian employee, Ron Broersma, for honors.

Federal Tax Refunds Expected to Reach $230 Billion

With tax season upon us, San Diego’s TurboTax, a unit of Intuit Inc., put out some positive news for those getting refunds.

Wednesday, January 16

San Diego Chargers Choose Mike McCoy as Head Coach

The San Diego Chargers hired Mike McCoy, the 40-year-old former offensive coordinator with the Denver Broncos, as their new head coach, making him the 15th head coach in the team’s history.

Sanford-Burnham Executive Takes Helm of Roche Holding

John C. Reed has resigned from his role as CEO of the La Jolla-based Sanford-Burnham Medical Research Institute to head Swiss biotechnology giant Roche Holding AG’s pharmaceutical research and early development division.

Chula Vista Landmark to Be Demolished

A Chula Vista landmark that many city officials called a terrible eyesore will be demolished in a spectacular implosion scheduled for Feb. 2, according to the Port of San Diego, the agency that manages the leasing of the site.

Sandag Invites Comments on Regional Planning Input

The San Diego Association of Governments, also known as Sandag, is inviting the public to review and comment on a draft public involvement plan, geared to engaging stakeholders over the next two years in the formation of San Diego County’s 2050 regional development plan.

Ralphs Closing La Mesa Store Location

Ralphs Grocery Co. plans to close its La Mesa supermarket on Feb. 1.

Deadline Announced for the San Diego Business Journal’s IT Executive Awards

Nominations for the San Diego Business Journal’s sixth annual Information Technology Executive of the Year Awards will close on Jan. 31.

Tuesday, January 15

Pentagon Puts Funds Behind IED Jammer

Northrop Grumman recently received a multimillion dollar contract modification to continue work on a system meant to foil radio-controlled improvised explosive devices.

Lowe Begins Phase 3 of County Operations Center Project

Developer Lowe Enterprises has begun construction of the third phase of the $500 million County Operations Center and Annex project in Kearny Mesa.

Accelrys Inc. Acquires Vialis AG for $5M

San Diego-based laboratory software provider Accelrys Inc. has purchased Swiss biosciences systems integrator Vialis AG for $5 million in cash.

PriceSmart Inc. Reports $20M in Net Income for Q1

PriceSmart Inc., the San Diego based operator of shopping warehouse clubs in Latin America and the Caribbean, reported first quarter net income of $20 million, compared with net income of $14 million for the like quarter of the 2012 fiscal year.

Medical Plaza Sells for $9.2M

A local neurosurgeon has purchased the two-building Mesa Medical Plaza in San Diego for $9.2 million.

Pearson Fuels Receives $1.35M Grant from Energy Commission

Pearson Fuels, a locally based alternative fuel distributor, received a $1.35 million grant from the California Energy Commission to expand the company’s flex fueling network.

San Diego City Council Approves Two New Port Commissioners

The San Diego City Council approved two new port commissioners to serve on the Board of Port Commissioners of the San Diego Unified Port District.

Deadline Extended for San Diego Business Journal’s CFO of the Year Awards

Nominations for the San Diego Business Journal’s seventh annual “CFO of the Year” Awards have been extended to January 31.

Monday, January 14

Phase 1 Complete on Sempra U.S. Gas & Power Plant in Arizona

Sempra U.S. Gas & Power, a subsidiary of San Diego-based Sempra Energy, said it completed the first phase of its Mesquite Solar 1 plant, located near Phoenix.

Eureka! Gourmet Burgers Joins Westfield UTC Lineup

Eureka! Gourmet Burgers & Craft Beer recently opened its seventh California restaurant at 4353 La Jolla Village Drive, in the Westfield UTC retail center.

El Cajon Apartments Sold for $8M

Locally based Recht Family Trust has purchased the 58-unit Greenfield Estates apartment complex in El Cajon for $8 million.

Space Micro Expands San Diego Manufacturing Facility

Space Micro, a locally based engineering and space technology company, recently announced the expansion of the company’s San Diego manufacturing facility.

Siliken Manufacturing Files Petition for Bankruptcy

Siliken Manufacturing USA, and its wholly owned subsidiary Siliken USA Inc., both based in Carlsbad, filed concurrent bankruptcy petitions in U.S. Bankruptcy Court in the Southern District of California in San Diego.

Military Contracts Take Poway Firm on Tour

DEFENSE: PKL Services Lands $95M Support Deal For Royal Saudi Air Force

The longer Sam Flores Jr. sticks with the military, the more of the world he sees.

Medicare Cuts Have Hospitals Hurting

MEDICINE: Institutions Say Staffing, Services Could Suffer

Another cut to government health care subsidies has San Diego hospital executives less than thrilled. The fiscal cliff deal helped stave off a 26.5 percent cut to Medicare reimbursements for physicians for a year. But to compensate for the $25-30 billion “doc fix,” hospitals will have to pick up about half the tab.

Financing Closes on Desalination Plant

RESOURCES: Nearly $1B Deal Involved 60 Parties

Financing on the largest water desalination project in the nation closed late last month, triggering actual construction of the nearly $1 billion project in Carlsbad.

Setting His Sights on Advocating for Gang Victims

ADVERTORIAL: Education and Training Supplement

If you consider the statistics, Agustín Peña probably should have ended up on a different side of the law than he has.

Economic Trends Make Upward Swing in 2013

FORECAST: Experts See Bright Spots Amid Challenges

The San Diego Business Journal’s 2013 Economic Trends event held at the Hilton San Diego Resort & Spa drew several hundred attendees looking for insights into how the year will play out for the business world.

Downtown Prepares for Pivotal Role in Region

During the next 40 years, the San Diego region is expected to grow exponentially. It will need to accommodate an additional 1.3 million residents, 400,000 housing units, and 500,000 jobs — and all of the basic services that come with a growing economy.

San Diego Can Be More Than a Contender

Mayor Filner is now governing a city with enormous modern day assets, a leading high-tech sector, robust tourism and military sectors including an economy significantly enriched by our cross-border location. San Diego is clearly poised to be a great 21st century city, and the new mayor has an unprecedented opportunity to take us there.

Event Attendees Make a Bid for a Cure to Multiple Sclerosis

The National Multiple Sclerosis Society in San Diego raised $470,000 at its 26th annual MS Dinner Auction. More than 500 guests attended the event at the Loews Coronado Bay resort, making bids ranging from $100 to $25,000 on 700 silent and live auction items.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

Executive Profile: Joe Terzi

Joe Terzi is the president and CEO of the San Diego Tourism Authority, previously known as the San Diego Convention & Visitors Bureau, or ConVis, a nonprofit 501C 6 corporation with a history dating back to 1954.

Ballpark Shines as a 'Utility Player'

MEETINGS: In Season Or Off, Petco Park Is The Place to Meet

Petco Park remains one of the best baseball venues in the country, but it is also one of San Diego’s most unique places for meetings and parties, both on game days as well as the off season.

Affordable Care Act’s Tax Bite Makes Its Mark This Year

TAX: Capital Gains, Medical Devices Are Affected By Changes

Several new federal taxes came into effect this month to help finance the national health care overhaul, including levies on medical device manufacturers and higher income taxpayers. The tax laws will raise $569 billion through 2022, according to filings from the Congressional Budget Office.

Financial Services Poised for Growth in Region’s Prime Office Space

San Diego’s financial services industry continues to be among the biggest renters of Class A offices, and occupies nearly a fifth of this region’s most desired space, according to a recent report from commercial brokerage firm Jones Lang LaSalle.

Big Lease Deals Could Spur Growth in Office Sector

Early indicators showed San Diego’s office real estate market starting 2013 still in recovery mode, although continued technology-related job growth could help put the region in an actual growth trajectory starting later this year.

Cooley’s Defense for Websense Makes Sense to Delaware Jury

This is cool, or Cooley. Cooley LLP attorneys had a big Intellectual Property win last month for client Websense Inc., a provider of integrated web, data, and email security solutions.

Oceanside Firm Is Finding Success in Its Space

SCIENCE: Company’s Telescopes Are in Demand By Schools, Stargazers

Oceanside Photo & Telescope started as a camera retailer but now generates most of its sales from folks who have stars in their eyes.

Financing Options Considered for Bay-Front Development

FINANCE: Officials Seek Best Mechanisms To Draw Developers

City and port district officials may be testing the private equity and loan markets, among other options aimed at bringing aboard commercial developers for a proposed transformation of the Chula Vista bay-front.

Paul Jacobs Sees Data and More Data in Our Future

TECH: At CES, Exec Discusses Trends and Unveils Snapdragon 800

Bigger, more capable and extra-fast electronics are bound for U.S. markets this year.

Technology Delivers Improved Diabetes Monitoring

HEALTH: System May Improve Care And Lower the Cost

Diabetics account for about 22 percent of all U.S. hospital patients, and cost the system half of the $174 billion spent each year on medical care.

Hub Acquires Local Intercare Insurance Firm

Intercare Insurance Solutions, a San Diego-based business insurance brokerage, said it was acquired by Hub International Limited, based in Chicago, for an undisclosed price.

Record Year of Acquisitions Puts a Lot on Firm’s Plate

PROPERTY: Westcore Still Has Eye on Markets, As It Assimilates Purchases

Westcore Properties founder and Chairman Marc Brutten says the San Diego-based investment firm will likely take a breather of sorts in the early part of 2013, after ending 2012 with a $700 million flurry of property acquisitions.

Airport Authority Aims Low With Latest Bond Offering

FINANCE: Low Interest Rate Is Goal in Green Build Financing

The board of directors for the agency that manages Lindbergh Field gave its top finance officer a big goal to hit when it issues some $440 million in revenue bonds this week.

Ambassador to Japan Visits UC San Diego On a ‘Business’ Trip

U.S. Ambassador to Japan John Roos arrived on the UC San Diego campus recently to drum up more commerce between the land of the rising sun and the U.S., now that several overseas air carriers have launched new nonstop direct service between Asia and the West Coast, including San Diego.

A Foundation to Build On

BUILDING: Family Firms Know the Importance of Good Customer Relations

John Wirtz remembers visiting work sites when he was three years old, learning the construction business from his father, John Q., in the 1950s.

The Impact of UC San Diego’s Graduate Students

ADVERTORIAL: Education and Training Supplement

Graduate students are vital to the success of top-ranked higher education institutions.

Out of Work? Job Hunters can Fight the Growing Stigma of Unemployment

ADVERTORIAL: Education and Training Supplement

Forty percent, or 5 million, unemployed Americans are considered “long term unemployed,” according to the U.S. Bureau of Labor Statistics, meaning they have been jobless for at least 27 weeks.

Friday, January 11

Bexil American Mortgage Acquires Castle Mortgage Corp.

Bexil American Mortgage Inc., a San Diego-based mortgage lender, said it acquired Castle Mortgage Corp., a full-service mortgage lender based in Birmingham, Ala., operating throughout the Southeast for an undisclosed price.

UTC Office Building Sold for $28.9M

San Diego-based BCL Inc. has purchased the Regents Park Financial Centre office building at University Towne Center for approximately $28.9 million, according to CoStar Group.

Near Real-Time Energy Monitoring Available for SDG&E Customers

San Diego Gas & Electric announced that customers can now use home area network devices to better understand their energy usage and lower costs.

Regents Bank Names New CEO

Regents Bank, based in La Jolla and now a subsidiary of Grandpoint Capital in Los Angeles, said it named Steven Sefton as its chief executive officer.

Cricket, Kyocera Launch Waterproof Phone

Cricket Communications and Kyocera Communications Inc., two locally based wireless services and product providers, recently announced the launch of the waterproof Android 4.0 Kyocera Hydro smartphone.

Nominations Close Today for San Diego Business Journal’s ‘Top Real Estate Deals’ Awards

The San Diego Business Journal will close nominations for the first annual “Top Real Estate Deals” Awards on Jan. 11.

Thursday, January 10

WD-40 Co. Reports $10.9M in Net Income for Q1

WD-40 Co., the San Diego maker of consumer products, reported first quarter net income of $10.9 million, up 61 percent from the like quarter in the prior fiscal year.

CEO Confidence Index Dips as Leaders Expect Slow Growth

Vistage International Inc., a San Diego-based CEO peer advisory organization, released a report that CEO optimism is dropping.

Noble House Buys Kona Kai Resort at Shelter Island

Noble House Hotels & Resorts has purchased the 129-room Kona Kai Resort in San Diego, with plans for an extensive renovation of the Shelter Island property.

Active Network to Provide Event Registration for Run Ireland

The Active Network Inc., the San Diego provider of online registration services, said it entered a strategic alliance with Run Ireland, the largest website for running events in Ireland.

Kearny Mesa Office Building Sells for $12.7M

Olympia Plaza, an office building at 3890 Murphy Canyon Road in Kearny Mesa, has been sold for approximately $12.7 million, according to CoStar Group.

EdgeWave Announces Launch of Social Media Security Technology

EdgeWave Inc., a locally based technology security company, recently announced the launch of EdgeWave Social, a cloud-based social media security solution for businesses.

Wednesday, January 9

Illumina Announces Acquisition of Verinata Health Inc.

San Diego-based Illumina Inc. announced it has signed an agreement to acquire fetal chromosome testing company Verinata Health Inc. in Redwood City for as much as $450 million.

Northrop Stays Busy With High-Altitude Spy Plane Programs

Northrop Grumman Corp. recently made two announcements related to its high-flying unmanned spy aircraft.

Chula Vista Apartments Sold for $10.6M

The Jack Kushner Administrative Trust has acquired the 70-unit South Bay Manor Apartments in Chula Vista for approximately $10.6 million. The seller was South Bay Manor LP of San Diego, according to a statement from brokerage firm CBRE, which represented the buyer.

ViaSat Ships Its 500th VR-12 Satellite Antenna

Carlsbad-based ViaSat Inc. recently said it shipped its 500th ultra-small satellite antenna, called the VR-12. The antenna allows communication with Ku-band satellites.

Fenway Buys Sorrento Mesa Office Building for $9.2M

Fenway Properties of San Diego has purchased the Wateridge Pavilion office building in Sorrento Mesa for $9.2 million.

GreatCall Launches Urgent Care App for Smartphones

GreatCall Inc., a locally based wireless service provider, recently announced the launch of the company’s new Urgent Care app for smartphones.

Tuesday, January 8

Intercare Insurance Solutions Acquired by Hub International

Intercare Insurance Solutions, a San Diego-based business insurance brokerage, said it was acquired by Hub International Limited, based in Chicago, for an undisclosed price.

Realty Income Amends Acquisition Deal

Realty Income Corp. of Escondido has amended its proposed acquisition of American Realty Capital Trust Inc.. The amended offer adds $55.5 million in cash payments to American Realty stockholders in a deal that was already valued at $2.95 billion.

LifeProof Picks Belkin for European Distribution

LifeProof, the locally based maker of protective cases for smartphones and tablets, announced a partnership with Belkin EMEA to distribute LifeProof products in Europe.

Regency Buys Hillcrest Retail Center for $81.1M

Florida-based Regency Centers Corp. has purchased the mixed-use Uptown District Shopping Center in Hillcrest for $81.1 million. The seller was West Coast Uptown Partners LP.

PatientSafe Solutions Closes $20M Series C Funding

San Diego-based PatientSafe Solutions closed a $20 million Series C round of financing led by the Merck Global Health Innovation fund, the strategic investment arm of Merck & Co. Inc. PatientSafe, which develops mobile platforms targeted toward optimizing health care delivery, received further investments from three private equity firms: Baltimore-based Camden Partners, Fort Worth, Texas-based TPG Capital and New York-based Psilos Group.

Zacharon Pharmaceuticals Acquired by BioMarin

San Diego-based Zacharon Pharmaceuticals has been acquired by Novato-based BioMarin Pharmaceuticals Inc. for $10 million upfront.

RF Industries Reports $1.2M in Net Income for Q4

RF Industries Ltd., the San Diego maker and distributor of radio frequency connectors and cable assemblies, reported unaudited fourth quarter net income of $1.2 million, compared with a net loss of $50,000 for the like quarter of the 2011 fiscal year.

San Diego Workforce Partnership Cuts 8 Positions

Peter Callstrom, CEO for the San Diego Workforce Partnership, conducted an organizational shakeup Jan. 7, cutting eight positions from the budget of the nonprofit that oversees job training programs throughout San Diego County.

Monday, January 7

Murray Galinson, Banker and Philanthropist

Longtime San Diego banker and philanthropist Murray Galinson died Jan. 3 at the age of 75.

Anametrix Names New CEO

Anametrix co-founder and Chairman of the Board Blaise Barrelet recently announced Pelin Thorogood will succeed him as CEO of the cloud-based, real-time digital analytics platform and will join the company’s board.

Quidel Offers Glimpse of Earnings

Quidel Corp. recently announced that it expected fourth quarter revenue to be in the range of $53 million to $54 million.

Developer Acquires Downtown Buildings for Future Office, Retail

A local development firm led by architect Graham Downes has purchased a three-building complex in Little Italy, which it plans to renovate into office and retail uses.

Chula Vista Mobile Home Parks Sold for $17.6M

Two contiguous mobile home parks in Chula Vista, with a total of more than 200 spaces, have been sold for a total of approximately $17.6 million.

Medical Devices, Related Sectors Poised to Add Jobs in 2013

BIOTECH: Washington And New Technology Change the Landscape

Whither San Diego’s biotech sector? Only time will tell.

There’s Not Much Room for Big Office Space Requirements

PROPERTY: Expert Sees Situation Damaging The Region’s Reputation

If past trends are an indication, says local commercial real estate broker Tom van Betten, the coming year could see the continuing emergence of two distinctly different supply-and-demand realities for office users scouting new space in the San Diego region.

Constraints of Tight Market Affect Moves

PROPERTY: Tenants’ Options Limited as New Projects Are Few

Office property experts say 2013 could be the year that the “flight to quality” trend of the past two years plays itself out. A continuing scarcity of large spaces for growth-oriented companies could spur the local market to move beyond its tenant musical-chairs phase, encouraging building owners and developers to move forward with redevelopment and new construction projects.

Professional Profile: Alan Gin

Alan Gin is an economics professor at the University of San Diego.

Kaiser Is Moving Ahead to Improve Care and Comply with Reforms

HEALTH CARE: New Records Systems, Wellness Programs Help Cut Costs

Stalled fiscal cliff negotiations have kept area hospitals, insurance companies and employers puzzling over the next steps to take regarding health care reform in 2013, said Mary Ann Barnes, senior vice president and executive director of Kaiser Foundation and Health Plans in San Diego.

Two Things Are Certain: Taxes and More Taxes

FINANCE: Firms Must Be Ready to Navigate New Rules

On either side of the fiscal cliff, there will be significant tax law changes for San Diego businesses and business leaders to consider.

Government Preference for Clean-Tech Spurs Specialty Businesses

TECH: Climate Concerns Are Catalyst; Soitec to Employ 450

Is past prologue when it comes to San Diego’s growing clean-tech sector for 2013? Most likely.

Confident Public Helps Get New Auto Sales Back on Track

VEHICLES: Dealers Sweeten Pot With New Technology, Incentives

The numbers bode well for auto sales in 2013.

Supply Is the Big Missing Piece in the Housing ‘Game’

PROPERTY: Median Home Price Climbs to $358,000 in November

Historic low interest rates and inadequate inventories drove up the number of homes sales and improved prices in most areas of San Diego County last year.

Construction Industry Sees Boost in 2013 From Health Care

CONSTRUCTION: Region Employs 57,600, Up 5 Percent from 2011

Local construction companies are anticipating a continued recovery in commercial projects in 2013, spurred largely by the growing health care and technology industries, even though a return to anything resembling pre-recession workloads is likely still years away.

Community Banks Feel Pressure to Consolidate for Growth

BANKING: Regulations, Sluggish Economy Increase The Need to Grow Assets

As 2012 wound down, two more San Diego banks announced they would join forces, capping off a year when acquisitions and mergers reduced the number of locally based banks from 19 to 16.

Small-Business Lender to Lose Longtime CEO

Michael McCraw, CEO of the California Southern Small Business Development Corp., announced recently that he plans to step down from his post.

Hospitality and Tourism Industry May Need a Bigger Welcome Mat

TRAVEL: Tokyo Flight Boosts Region’s Profile; Hotel Metrics Improve

Hospitality and tourism leaders will be looking to overcome fears about the national and global economies, as the San Diego region aims for a third consecutive year of local visitor and hotel business growth in 2013.

Businesses Will Feel Insurance Industry’s Pain

INSURANCE: Increase in Costs Coming, Including In Workers’ Compensation

After several years of declining premiums on their insurance coverage, businesses had a rude awakening last year when rates increased.

Station Proudly Broadcasts Its Age: 60

Television station XETV/San Diego 6 is looking for old photos and other bits of ephemera from current and former employees, friends and viewers to celebrate 60 years of broadcasting in the region.

Defense Outlook Is Clouded by Politics

MILITARY: Any Number of Variables May Affect Policies

What’s ahead for defense contractors during 2013? The smoke has yet to clear.

Health Care Reform: Assembly Required

HEALTH: Many Details Must Still Be Worked Out This Year

California is at the forefront of President Barack Obama’s massive health care overhaul, and policy decisions made early this year will impact San Diego employers, health professionals and individuals who are attempting to prepare for the changes coming with the Affordable Care Act.

Dealing with the Recovery Process

ECONOMY: Region Sees Some Positive Indicators As Economy Slowly Heals

Hold on. The fiscal cliff isn’t the end of the federal government spending debate, but the beginning of a restructuring process that’s well under way, and still needs more time to get resolved.

Wireless Industry Keeps Building Momentum

TECH: ‘Near Field’ Advances Open Door to Further Innovation

Five billion plus. That is the number of microchips specifically tailored for wireless connectivity that manufacturers are expected to ship during 2013.

Don’t Let Region Miss the Boat on Exports

Sadly, San Diego’s export record looks like its sports teams’ performances — some bright moments in a sea of disappointing results. Here is the good news.

It’s Time to Buy in the Residential Market

It is now time to buy a home. I have been saying this for the past several years, but now the market statistics back up the recommendation.

The Candlelight Ball Shines With the Glow of Success

The 83rd annual Candlelight Ball, chaired by local philanthropist Betty Knight Scripps, raised more than $2 million to benefit Scripps Memorial Hospital La Jolla. More than 400 people attended the ball and enjoyed a gourmet dinner and ballroom dance performance.

Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

Friday, January 4

Editor’s Note

Due to a programming error, an incorrect version of this newsletter was distributed earlier today. We apologize for any inconvenience.

Local Economic Index Rises Slightly; Outlook Positive

An index measuring San Diego’s economy edged up a tenth of a point in November, its 11th rise in the last 13 months.

EDF Completes Financing on Solar Power Plant

San Diego-based EDF Renewable Energy Inc., which was previously known as enXco, said recently that it completed financing on its 143 megawatt Catalina Solar project in the Mojave Desert.

Developer Buys Encinitas Lots for Proposed Homes

City Ventures LLC of Newport Beach has purchased two contiguous lots totaling 7.73 acres in Encinitas for approximately $6.2 million.

Brewery’s ‘Palate Wrecker’ Goes National, Again

Mira Mesa-based Green Flash Brewing Co. said it plans to start 2013 by taking its Palate Wrecker brew to a national audience, for a second time.

State of the Region Talk Set for Jan. 10

Three speakers will address the State of the Region-The Road Ahead in an event sponsored by the San Diego North Chamber of Commerce on Jan. 10.

Thursday, January 3

Independa Raises $5M in Series A Round

Independa Inc., a San Diego-based company that develops cloud-based software to help the elderly live more independently, recently closed a $5 million Series A round of preferred stock financing.

DJO Buys Exos

DJO Global Inc., the Vista-based maker of orthopedic devices, said one of its subsidiaries, DJO LLC, has completed the acquisition of Exos Corp. for an undisclosed price.

Virginia Firm Buys JCI Metal Products

JCI Metal Products Inc., a San Diego-based provider of maintenance, repair and overhaul services to the U.S. Navy, said it was acquired by affiliates of US Joiner, a Virginia company that provides marine and furniture solutions for government customers.

Cubic to Help Military Send Vehicles Home from Afghanistan

Cubic Corp. announced recently that it received $4.8 million worth of orders from the U.S. government as part of an effort to track thousands of military vehicles leaving Afghanistan.

Tourism Agency Debuts New Name

The region’s primary tourism promotion agency has started out the new year with a new moniker. The San Diego Convention & Visitors Bureau, also referred to as ConVis, recently changed its name to the San Diego Tourism Authority.

Meetings to Examine San Ysidro Transportation Center Options

Regional planners have scheduled a series of four meetings to get public input on a potential redesign of the San Ysidro Intermodal Transportation Center. The first is slated for 6 p.m. on Jan. 9, at Willow Elementary School, 226 Willow Road in San Ysidro.