Stories for July 2013

Wednesday, July 31

Trius Therapeutics and Optimer Pharmaceuticals Acquired by Cubist Pharmaceuticals

Cubist Pharmaceuticals Inc. has acquired two San Diego antibiotics makers — Trius Therapeutics Inc. and Optimer Pharmaceuticals Inc. — in a deal that could be worth up to $1.62 billion.

Qualcomm Inc. Takes Stake in Communications Gear Producer Alcatel-Lucent

Qualcomm Inc. has taken a small stake in the French-based communications gear producer Alcatel-Lucent.

Vista Retail Center Sold for $8.5M

Business Park Drive Holdings LLC, a Maryland limited liability company, has purchased a Vista retail center out of foreclosure proceedings for $8.5 million, according to CoStar Group and public data.

Isis Pharmaceuticals Receives $2M Milestone Payment

Isis Pharmaceuticals Inc. has received a $2 million milestone payment from British pharma giant GlaxoSmithKline Plc related to the advancement of its drug that treats patients with familial amyloid polyneuropathy, a rare genetic disease.

Airports Gets Its First Spa; Sharper Image Also Joins Expanding Lindbergh Lineup

The local airport’s first spa, along with a new The Sharper Image store, are among four new businesses scheduled to open July 31 at San Diego International Airport.

Local Economic Index Is Up Slightly for June

An index measuring San Diego’s economy increased by a tenth of 1 percent in June, with three of its six components showing gains.

San Diego Events to Celebrate Coworking Week

August 9 is “Coworking Day,” a growing trend which is celebrated around the globe.

Tuesday, July 30

aTyr Pharma Inc. Secures $59M In Funding

San Diego’s aTyr Pharma Inc. has secured $59 million in funding — $49 million from venture sources and $10 million in debt financing. Investors in the equity financing include Alta Partners, Cardinal Partners, Domain Associates and Polaris Partners.

Maryland Investment Firm Buys 3 Gaslamp Buildings for $15.25M

Maryland-based ASB Real Estate Investments has acquired three adjacent retail buildings in the Gaslamp Quarter for $15.25 million.

Northrop Grumman Delivers 100th Avionics System for F-35 Aircraft

Northrop Grumman announced on July 29 that it delivered its 100th avionics system for the F-35 Lightning II fighter aircraft.

Women-Only ‘Coworking’ Facility Opens Third Location

Hera Hub, a shared workspace community of several hundred like-minded entrepreneurial women, announces the launch of the third ‘coworking’ space in Carlsbad at 5205 Avenida Encinas. The other two locations are in Sorrento and Mission Valley.

Palomar Health and Qualcomm Life Launch Glassomics Incubator & Lab

Palomar Health has teamed up with Qualcomm Life Inc. to launch Glassomics, an incubator and innovation lab that will explore incorporating wearable computing devices in medicine. This includes using technology like Google Glass, a representative from Palomar said.

Poway Center Renovation Adds Michaels, Grocery Outlet Stores

Poway Plaza, operated by StepStone Real Estate Services of San Diego, has completed a $3.5 million renovation, as it adds new tenants Michaels and Grocery Outlet.

Lindbergh Field Green Build Project Benefits Local Businesses

Lindbergh Field’s $1 billion Green Build expansion and renovation at Terminal 2, which will be officially completed Aug. 13, benefited not only the major contractors, but hundreds of local and smaller businesses used as subcontractors, says the San Diego Country Regional Airport Authority.

San Diego County Treasurer-Tax Collector Office Returning $300,000 in Unclaimed Money

San Diego County Treasurer-Tax Collector Dan McAllister says his office has about $300,000 in unclaimed cash he wants to return to its rightful owners. He’s notifying those who may among the group to claim the money by Sept. 23 or it will revert to the county.

Monday, July 29

Neighborhood Healthcare to Open New Health Center in Escondido

Neighborhood Healthcare, a community clinic network that operates in 10 locations in the San Diego metro area and Riverside, said it is expanding its services by opening a new health center in Escondido.

General Atomics Announces First Flight of Improved Gray Eagle Drone

General Atomics Aeronautical Systems Inc. announced the first flight of an improved, Predator-style remotely piloted aircraft for the U.S. Army market.

Callaway Golf Co. Reports Net Profit of $10M for Q2

Callaway Golf Co., the Carlsbad maker of clubs, reported second quarter net profit of $10 million on sales of $250 million.

San Diego Gas & Electric Has Granted $7.2M to UC San Diego

San Diego Gas & Electric announced it has given UC San Diego $7.2 million that represents energy efficiency incentives that it earned by implementing 30 energy efficiency projects between 2010 and 2012.

Fashion Retailer Opening First California Store at Viejas Outlets

Women’s fashion boutique retailer Eccoci plans to open its first California store on July 29, at Viejas Outlets in Alpine.

Wal-Mart Bringing Neighborhood Market to Oceanside

Wal-Mart Stores Inc. plans to open its fourth San Diego County location of Walmart Neighborhood Market early next year on Mission Avenue in Oceanside.

Vibra Bank Reports Unaudited Net Income of $61,000 for Q2

Vibra Bank, with a single office in Chula Vista, reported unaudited second quarter net income of $61,000, compared with net income of $207,000 for the like quarter of 2012.

Tourism Authority Lays Off 31 Staff Members

The San Diego Tourism Authority, the region’s primary tourism promotion agency, has announced the layoff of 31 people, effective July 30. The move stems from legal issues related to disbursement of funds from a Tourism Marketing District that supplies the bulk of the Tourism Authority’s operating budget.

Business Events Calendar

Business events in and around San Diego County for the week of July 29 - Aug. 4

Higgs Fletcher Partner Receives Prestigious Award for Principles

The Business of Law

Susan Hack, partner at Higgs Fletcher & Mack LLP, was presented with the prestigious Daniel T. Broderick III Award at the 29th Annual Red Boudreau Trial Lawyers’ Celebration last Friday. The award is given to a lawyer in private practice with a substantial body of civil litigation experience, who epitomizes the highest principles of civility, integrity and professionalism. Hack joined Higgs in 1989 and became a partner in 1996.

Planning Commission Approves 2 Hotels Near Carlsbad Airport

Real Estate Column

Carlsbad is about to see more growth in its hotel count. The city’s Planning Commission has cleared the way for two new hotels proposed near McClellan-Palomar Airport, with a total of 239 rooms.

Proper VA Medical Care Is a Right for Veterans

The need for medical care for veterans through the Veterans Administration has never been greater, and the strains on the VA never more acute. As the VA pushes to get more veterans into the system faster, the issue becomes one of staffing. Is the current staffing at the VA medical centers adequate to provide quality medical care and treatment to the increase in veterans needing medical care? If not, veterans face inadequate medical care and treatment, and the VA faces an increase in medical malpractice claims.

Navy Aims for Preparation, Preservation on Island

Publisher's Notebook

As U.S. Navy personnel point out, it is important to train like you fight. In the Navy’s case, they have a unique training facility to practice what they preach: San Clemente Island. The island is at the heart of a vast naval training complex that represents the Navy’s only remaining ship-to-shore live firing range. The entire San Clemente Island Range Complex, as it is formally known, covers an area of more than 2,600 square miles.

Right Ingredients Come Together to Support Military Families


Phil’s BBQ and Big Brothers Big Sisters of San Diego County raised more than $77,000 at the 5th Annual Phil’s Big BBQ at the Ballpark recently. Phil’s BBQ donated 100 percent of the proceeds to Operation Bigs, a mentoring program for children with a deployable parent in the military.

Real Estate Roundup

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

McCarthy Building Cos. Inc. has begun construction of the new 74,000-square-foot Heart and Vascular Center at Grossmont Hospital, located at 5555 Grossmont Center Drive in La Mesa.

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Executive Profile: Jay Alexander

Jay Alexander is managing director and market lead for the San Diego office of Jones Lang LaSalle. Alexander provides leadership and guidance for the local team and is one of the leading landlord representation brokers in San Diego, with approximately 4.7 million square feet of active listings. He has completed 3,000+ transactions in his career, valued at approximately $1.5 billion.

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Local Architects Expand Cautiously as Construction Demand Grows

ARCHITECTURE: Many Firms Have Rich History In Defining the Region

As the economy continues its rebound from the long recession and the pace of construction quickens, some of the San Diego region’s architecture firms are seeing a surge in activity.

Pointing the Way

PROPERTY: Submarket Successes Help Boost Other Areas of the County

Steady job growth and rising demand for industrial and office space — amid sparse new construction — continued to fill San Diego County’s existing commercial buildings as the market reached the halfway point of 2013.

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Local CEO Touted as a Solid Candidate for Top SBA Position

Finance Column

Kurt Chilcott, president and CEO of CDC Small Business Finance, is being mentioned as a possible successor to SBA Administrator Karen Mills.

Bridgepoint Drops San Diego’s Holiday Bowl Title Sponsorship

Sports Biz: Bowl Organizers Search for Replacement Sponsor

The Holiday Bowl, a mainstay of the post-college football season since 1978, is without a title sponsor after former sponsor Bridgepoint Education Inc. decided not to continue its relationship.

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FatSkunk Inc. Aims to Raise a Stink About Mobile Malware

TECH: Defense Doesn’t Zap Power; ‘Zero-Day’ Threats Can Be Identified

FatSkunk Inc. wants to outfox a type of software that is growing more common and dangerous. The business has Silicon Valley roots, talent from the local wireless industry, and space at a downtown San Diego incubator.

F-35 Program Said to Be Picking Up ‘Momentum’

DEFENSE: Local Firms Have Stake in Development of Fighter

Building the F-35 Lightning II fighter aircraft has been an odyssey for prime contractor Lockheed Martin. The program, which has had more twists and turns than a road crossing the Alps, might finally be on level ground.

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Demise of Enterprise Zones Sparks Response

GOVERNMENT: New Efforts Will Address State’s Competition for Business

Local commercial brokers anticipate a rise in leasing and related activity in coming months, as companies currently making use of job-creation tax credits in the California Enterprise Zone program aim to earn their last benefits before the program is officially terminated on Jan. 1, 2014.

Entrepreneurship Meets Seamanship In 1st VC Regatta

SDBJ Insider

Well, looks like I I missed this final tidbit involving the annual San Diego Venture Summit held July 11, which featured more than 100 venture capitalists. A 41-foot sailboat owned by yacht retailer Rick Day — he’s also a San Diego-based limited partner in local boutique venture capital firm Moore Venture Partners — took first place in the inaugural VC Regatta held on San Diego Bay following the summit.

Fancy Footwork

APPAREL: Boot Maker Fashions Efforts to Take Company to Next Level

Jane Pak’s office is an exercise in minimalism. A desk, a computer, little else. But the president of San Diego’s Old Gringo Boots Inc. has a few items on display that catch the eye — several shelves of bedazzled, gem-colored boots and her company’s credo hanging in plain view: “The Cowboy Code.”

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North City Has Some Big Dreams to Fulfill

PROPERTY: More Than $1B May Go Into Huge Development

It’s been in the works for the past 10 years. But local development firm Urban Villages San Marcos now aims to capitalize on a recovering real estate market as it moves forward with North City, a 200-acre mixed-use project expected to entail more than $1 billion in development over the next decade.

Jumbo Mortgages Are On the Comeback Trail

FINANCE: Better Secondary Market, Pricing Spur Increase

San Diego lenders say borrowers seeking jumbo mortgages have more options this year despite a spike in average mortgage interest rates recently.

Surveillance Firm Sees Need for Its Cameras

TECH: $5.7M in New Funding To Help MicroPower Expand

MicroPower Technologies Inc., a provider of wireless, solar-powered surveillance systems, said it closed on a $5.7 million second round of equity financing, which it plans to use for further product development, sales and marketing.

Friday, July 26

Tesla Takes a Shortcut With Direct Sales Route

AUTO: Some Car Dealers Say Customer Connection Is Lost

Dell does it. So how about automakers? Tesla Motors Inc. takes a factory-direct approach to selling its novel, high-end electric cars.

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Samsung to Use MaxLinear’s Silicon Tuners in TV Sets

MaxLinear Inc., the Carlsbad-based electronics manufacturer, said recently that Samsung will start using its hybrid silicon tuners in its televisions.

Skylight Healthcare Systems Receives $10M Loan from GE Capital

San Diego-based Skylight Healthcare Systems Inc., a maker of devices and software that help involve patients in their treatment during hospital stays, announced it has received a $10 million loan from GE Capital’s Healthcare Financial Services.

Realty Income Boosts Revenue, Net Income in Second Quarter

Realty Income Corp. reported record results for its second quarter ending June 30, with revenue up 63 percent and adjusted funds from operations rising 73.8 percent from the year-ago period.

Arena Pharmaceuticals Inc. Receives Upfront $2M Payment for Granting Distribution Rights

San Diego’s Arena Pharmaceuticals Inc. received an upfront payment of $2 million for granting Taiwan-based CY Biotech Company Ltd. exclusive rights to market and distribute its anti-obesity drug, Belviq, in Taiwan.

QCOM Shares Rise After Q3 Results, Revised Guidance

Shares of Qualcomm Inc. shot up nearly 3 percent in trading on the Nasdaq exchange July 25 to above $63 after the mobile chip maker reported better than expected third quarter results.

San Diego Region Has 3rd Highest Mortgage Balance in Country

The average mortgage balance in San Diego in the second quarter was $258,548, making it the third highest city in the country in a ranking compiled by, a Hearst-owned account management service.

Thursday, July 25

Encore Capital Group Completes Private Placement of $172.5M

Encore Capital Group Inc., a San Diego-based buyer and collector of defaulted credit card debt, said it completed a private placement of $172.5 million of convertible senior notes that pay 3 percent.

Scripps Health Closes Escrow on Hillcrest Hospice Facility

San Diego health care giant Scripps Health announced it has closed escrow on the former San Diego Hospice hospital and eight-acre property in Hillcrest, and now officially owns the property. It purchased the hospital at auction in federal bankruptcy court for $16.55 million in April.

Illumina Shares Rise as Earnings Beat Analyst Projections

Shares for San Diego-based genetic sequencing giant Illumina Inc. rose 11 percent following the company’s announcement that it has seen better-than-expected quarterly growth.

Former Health Care Property Sold for $17.2M

A health care property that formerly housed Alvarado Convalescent & Rehabilitation Hospital, in the city’s college area submarket, has been sold for approximately $17.2 million, according to CoStar Group and public data.

ForwardMetrics Corp. Receives $1M in New Equity Investment

ForwardMetrics Corp., an Encinitas-based firm that makes cloud-based software which helps planners and consultants do a better job of formulating and implementing organizational plans, said it received $1 million in new equity investment from two unnamed individuals.

Molten Games Receives Multimillion-Dollar Round of Series A Funding

Molten Games of San Diego said on July 24 that it received a multimillion-dollar round of Series A funding led by South Korea-based NCSoft Inc. The exact amount of funding was not disclosed.

Wednesday, July 24

R3 Strategic Awarded Air Force Contract Potentially Worth $55M

Coronado-based R3 Strategic Support Group Inc. said it received a U.S. Air Force contract that could potentially be worth $55 million over five years.

Andaz Completes First Phase of $1 Million Renovation

Andaz San Diego has completed the first phase of a $1 million renovation of the hotel’s lobby and entertainment spaces.

BAE Systems San Diego Ship Repair Receives $38.6M Navy Contract

BAE Systems San Diego Ship Repair recently received a $38.6 million contract for work on the destroyer USS Benfold.

Planning Commission Approves 2 New Hotels Near Carlsbad Airport

The Carlsbad Planning Commission has approved plans for two hotels, with a total of 239 rooms, planned for a site near McClellan-Palomar Airport.

Median Housing Price in San Diego Rises in June

San Diego’s median housing price in June rose nearly 8 percent to $416,500, or $500 below the level designated for a jumbo mortgage, according to the most recent Dataquick housing market report.

Tuesday, July 23

Connect CEO Duane J. Roth Seriously Injured in Biking Accident

Connect CEO Duane J. Roth is being treated at UC San Diego for a brain injury that occurred during a biking accident Sunday near Lake Cuyamaca.

Northrop Delivers New, Larger Model of Fire Scout to Navy

Northrop Grumman has delivered the first of its bigger, better Fire Scouts.

Contract Manufacturer Goes Forward Under the Formex Name

The San Diego-based Biotech Investment Group LLC announced it has launched a new subsidiary, Formex LLC, after completing a purchase of the assets of contract manufacturing organization PharmaForm.

Life Technologies Files Definitive Proxy Statement, Sets Vote on Merger

Life Technologies Corp. has filed a definitive proxy statement with the U.S. Securities and Exchange Commission regarding its acquisition by Waltham, Mass.-based Thermo Fisher Scientific Inc. It has set a special stockholder meeting August 21 at the company's Carlsbad headquarters to discuss the acquisition.

Several Alliant Techsystems’ Structures Used on Navy Satellite

A U.S. Navy communications satellite recently launched from Cape Canaveral, Fla., contains structures built in San Diego by Alliant Techsystems Inc.

Bank’s California Economic Index Was Flat in May

An index measuring economic activity for California was flat in May, declining by 0.01 percent from its April level.

South County EDC Announces New Chairman, Launches Survey as Part of Developing 5-Year Strategic Plan

Scott Parker, chief executive officer at Vibra Bank in Chula Vista, was named the new board chairman of the South County Economic Development Council.

Monday, July 22

SDG&E’s Initiative Helps Put Safety First for the Community

Kudos/Giving Column

San Diego Gas & Electric donated $800,000 through its Emergency Preparedness and Safety Initiative to support safety partners and emergency responders including 2-1-1 San Diego, The American Red Cross, Burn Institute, local fire departments, San Diego Police Foundation, Tribal CERTS and the San Diego Fire Rescue Foundation.

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Real Estate Roundup

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

Hotel Vyvant, a 23-room boutique hotel at 505 W. Grape St. in downtown San Diego, has been sold for $2.2 million, according to a statement from brokerage firm NAI San Diego, which represented the seller.

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Executive Profile: Anthony Thornburg

Anthony Thornburg

General Ledger Resources is a regional human capital consultancy focused in the finance and accounting vertical. Founded by two San Diego entrepreneurs, Anthony Thornburg and Jeffrey Litteken in May 2003, General Ledger Resources has evolved from a local staffing firm into a growth oriented business with a regional scope. The firm opened its first office in San Diego in 2003 and has been recognized on multiple occasions as one of the fastest growing human capital firms in the U.S. It has enjoyed 10 years as an independent company and operates offices in San Diego and Orange County.

Veterans May Face Private Sector Obstacle Course in Job Search

WORKFORCE: Military Experience Can Translate Into Needed Job Skills

In the battle to help workers land jobs that are worthy of their skills and experience, advocates for the nation’s military veterans face a special challenge.

The Skill Seekers

WORKFORCE: Staffing Agencies, Employers See A Hot Job Market for Some n By EMMET PIERCE Unemployment rates remain high as the nation continues its slow climb out of the recession, but there are many

Unemployment rates remain high as the nation continues its slow climb out of the recession, but there are many positions in the San Diego region for which workers have remained in high demand.

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Insurers Exiting Individual Market Shouldn’t Affect Businesses

INSURANCE: Aetna, United HealthCare Avoid Risks of That Coverage

The upshot of insurers such as Aetna Inc. and United HealthCare Services Inc. dropping out of California’s individual market is that it will have a minimal impact on businesses and their employees’ coverage, said Linda Keller, benefits practice leader for the California operations of brokerage Hub International Ltd.

Dangers of Unproven Stem Cell Therapies Highlighted at Symposium

Biotechnology Column

There’s a lot of snake oil in stem cells. That’s according to Larry Goldstein, director of UC San Diego’s Stem Cell Program. He recently spoke of the dark side of human stem cell development at a California Healthcare Institute symposium at the Salk Institute in La Jolla, citing a recent controversy in Italy involving a company of dubious repute claiming it can cure fatal disorders with its stem cell therapies.

Mission Federal Acquires a Credit Union Auto Buying Service

Finance Column

Mission Federal Credit Union acquired Autoland Inc., a credit union service organization, from the National Credit Union Administration, the industry’s regulator, which took over the business after former owner Telesis Community Credit Union failed last year.

West Park Rentals to Add More Luxury Options At Civita

PROPERTY: Altana Project Will Offer 45 Detached Homes

Cautiously optimistic about an improving housing climate, San Diego-based developer Sudberry Properties recently broke ground on West Park, a 612-unit luxury apartment complex in its growing Civita mixed-use development in Mission Valley.

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Speculation on Qualcomm Smart Watch is the TOQ of the Town

TECH: Mirasol Display’s Energy-Use and Lighting Well-Suited for the Device

A photo of a wristwatch with a 1.5-inch Mirasol display has technology bloggers abuzz. Mirasol is part of Qualcomm Inc. And those bloggers are speculating that Qualcomm is working on a smart watch.

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Innovative Funding Platform Brings Life to Creative Projects

FUNDING: Crowdsourcing Website Enables Individuals To Help Launch New Ideas

Startup fundraising is always challenging, yet some local companies and organizations are finding positive results from Kickstarter Inc., the nation’s top crowdfunding website.

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Workshop Tries to Build a Following By Offering Tools and Technology

INDUSTRY: Companies, Do-It-Yourselfers Find a Well-Equipped Workspace

The businessmen behind San Diego-based MakerPlace have already established that they can open a community workshop with a variety of industrial tools, sell monthly memberships to the do-it-yourself crowd, and keep the lights on.

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Ashford Accreditation Is Also a Win for the Region

SCHOOL: Midwest Move Was an Option if Efforts By Bridgepoint Had Failed

Bridgepoint Education’s gaining accreditation for its Ashford University subsidiary was good news for the for-profit, online business, its staff and students, but it was also a relief to the San Diego region.

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REIT’s Retail Center Tally Hits $200M This Year

PROPERTY: ROIC Pursues West Coast, Grocery-Anchored Sites

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, is continuing a shopping spree that began last year, when it shifted its focus entirely to the West Coast in search of retail center acquisitions.

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Local Company Sees a High-Tech Harvest in Future

SDBJ Insider

Sorrento Valley-based Vision Robotics Corp. is mentioned in a recent Associated Press story as part of the ongoing revolution in the use of robots to work the country’s orchards and farms. The ag-tech business is perfecting a robotic lettuce thinner, which can also be used in vineyards that produce wine grapes.

Cuts Bring Closure of Skilled Nursing Center

MEDICINE: Palomar Says Medi-Cal Changes to Blame

Palomar Health will close its Escondido-based skilled nursing center, saying that Medi-Cal cutbacks have rendered the 96-bed facility too costly to maintain for the financially beleaguered health system.

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AT&T Sold on Value Of Leap’s Spectrum

TELECOM: Leap’s Stock Is Up; Some Say Bid Is too High

Investors continue supporting the proposed sale of San Diego-based Leap Wireless International Inc. to AT&T last week, pushing up the prepaid cellphone provider’s stock more than $2 above the $15 cash offer price.

Shipyards Want to Stay The Course on Zoning

PROPERTY: Proposed Changes Seen as Threat to Industrial Work

The ship repair business, including the big yards run by BAE Systems, Continental Maritime and General Dynamics Nassco, looms large in Barrio Logan.

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Nassco Has Designs On Big Navy Contract

DEFENSE: Firm Is Submitting Proposals; 17 Ships Could Be Built

San Diego-based General Dynamics Nassco has jumped into the competition to build a series of refueling ships — as many as 17 — for the U.S. Navy.

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Local Flavor

TRAVEL: Some San Diego Favorites Land in Airport’s New Concession Lineup

The prospect of holiday traffic is now a much bigger deal for people like gourmet chocolate seller Jerry Swain. “In retail, chocolate sales tend to be very seasonal,” said Swain, founder and CEO of Jer’s Chocolates in Solana Beach. “But with a location like the San Diego airport, we should be getting a good stream of foot traffic throughout this summer and most of the year.”

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ITT Exelis Gets $22.1M Contract Modification

The U.S. Navy recently awarded ITT Exelis a $22.1 million modification to a previously awarded contract.

Lithera Raises $6.7M

San Diego-based pharmaceutical company Lithera Inc. announced it has raised an additional $6.7 million in equity capital, bringing its Series C funding round to $27.3 million.

Yapert Brings in $1.2M in Seed Funding

Sorrento Mesa-based Yapert recently said that it received $1.2 million in seed funding for its business supplying content to mobile devices.

San Diego’s Unemployment Rate Increases in June

San Diego’s unemployment rate increased in June to 7.3 percent, up from 6.8 percent in May, but below the year-ago June rate of 9.3 percent, according to the California Employment Development Department.

Umami Reels in New Credit Agreement

Umami Sustainable Seafood Inc., a San Diego-based operator of two fish farms in Mexico and Croatia, said it entered into a new credit agreement for about $10.4 million for its Kali Tuna subsidiary in Croatia.

URBN Restaurants Plans New Brewery-Eatery in El Cajon

San Diego-based URBN Restaurants Inc., which operates four local restaurants including Basic Urban Kitchen + Bar in East Village, plans to open a new dual-concept craft brewery and pizza restaurant in El Cajon.

Business Journal’s “Technology Transforming Business: Telemedicine” Panel Set for July 25

The San Diego Business Journal will hold a panel discussion on Technology Transforming Business: Telemedicine on Thursday, July 25.

Business Events Calendar

Business events in and around San Diego County for the week of July 22- July 28.

Friday, July 19

Manchester Grand Hyatt Completes $100 Million Makeover

The Manchester Grand Hyatt San Diego has completed a $100 million renovation involving all of the hotel’s 1,625 guest rooms, as well as public spaces.

Solulink Inc. Announces New Round of Equity Financing

San Diego-based Solulink Inc. has announced a new round of equity financing, but has not disclosed the price. It said that the new round will help the company accelerate the commercialization of its Hybrilink antibody-labeling technology.

Commercial Print Store Expanding Into Orange County

San Diego-based Instant Imprints, which operates mostly franchised stores selling corporate and organizational promotional products and services, has reached an agreement with an Orange County franchisee to extend the brand to that region.

Cardium Therapeutics Announces 1-for-20 Reverse Split of Stock

Cardium Therapeutics has announced a 1-for-20 reverse split of the company’s issued and outstanding common stock.

Wal-Mart Opens Second Local Neighborhood Market Store

Wal-Mart Stores Inc. has opened its first small-format Walmart Neighborhood Market in the city of San Diego, at 2121 Imperial Avenue.

Figtree Energy Issues $809,900 Bond for Clean Energy Finance

Figtree Energy Financing, a San Diego based clean energy finance business, said it issued the largest, nonsubsidized bond in the history of a state renewable energy program called Property Assessed Clean Energy.

Thursday, July 18

Former Exec Mike Dee Returns to San Diego Padres as New CEO

One week after Padres CEO Tom Garfinkel resigned, the baseball franchise announced his replacement — Mike Dee, a former Padres executive.

On-Ramp Wireless Brings in Additional $15M in Venture Capital

Rancho Bernardo-based On-Ramp Wireless, which makes wireless monitoring gear for the electrical distribution industry, said it brought in an additional $15 million in venture capital.

Cassidy Turley Acquires Local Project Management Firm

Commercial real estate services firm Cassidy Turley San Diego has acquired San Diego Project Management Services, a local firm led by industry veteran Ron Sutliff.

Regulus’ Public Offering of Common Stock Priced at $9.50 a Share

La Jolla-based Regulus Therapeutics Inc. has announced the pricing of a public offering of 4.5 million shares of its common stock at $9.50 per share. The company expects gross proceeds of $42.8 million.

Qualcomm Inc. Declares Quarterly Dividend

Qualcomm Inc. announced a quarterly cash dividend of $0.35 per common share, payable on Sept. 25 to stockholders of record at the close of business Sept. 4.

La Jolla Pharmaceutical Co. Drug Receives Orphan Status from FDA

A drug from La Jolla Pharmaceutical Co. has received orphan status from the U.S. Food and Drug Administration, the company announced.

Wednesday, July 17

CyberFlow Analytics Receives $2M in Seed Funding

San Diego-based CyberFlow Analytics Inc. said it received $2 million in seed funding from Toshiba America Electronic Components Inc.

Sealand Natural Resources Announces Distribution Agreement with Nature’s Best Inc.

Carlsbad-based Sealand Natural Resources Inc. has announced a distribution agreement with Brea-based Nature’s Best Inc., the country’s largest private wholesaler of health and natural food products. Financial terms were not disclosed.

Qualigen Inc. Receives FDA Clearance for FastPack Vitamin D Immunoassay

Carlsbad-based diagnostic test maker Qualigen Inc. announced that it has received U.S. Food and Drug Administration clearance for its FastPack Vitamin D Immunoassay, which can rapidly detect levels of the key vitamin in a patient’s bloodstream.

Santee Location to Be 4th Local Sleep Number Location

Select Comfort Corp., which makes and sells high-tech adjustable beds and related products, plans to open the fourth San Diego County location of its Sleep Number stores on July 26 in Santee.

Biotechnology Incubator Bio, Tech and Beyond Opens in Carlsbad

A new biotechnology incubator called Bio, Tech and Beyond opened last week in Carlsbad.

Kabe Exploration Inc. Receives Tender Offer from International Equity Partners Oil & Gas

Kabe Exploration Inc., a San Diego oil and gas exploration company, said it received a tender offer from International Equity Partners Oil & Gas to acquire all of Kabe’s common shares in a two-for-one share exchange.

SDSU Business College Names New Director of Corky McMillin Center

The College of Business Administration at San Diego State University has named Dawn R. Eisenberg as the new director of the college’s Corky McMillin Center for Real Estate.

Tuesday, July 16

Ocera Therapeutics Merges with Tranzyme Pharma

The San Diego-based privately held Ocera Therapeutics Inc. has merged with Research Triangle Park, N.C.-based Tranzyme Pharma, a public company. The combined company, called Ocera Therapeutics Inc., is public and will trade on the Nasdaq Global Market under the symbol OCRX beginning July 16.

Pricesmart Inc. Reports Net Income of $18.5M for Q3

Pricesmart Inc., the San Diego operator of club warehouse stores in the Caribbean and Central America, reported third quarter net income of $18.5 million, up 18 percent from the like quarter of 2012.

Rancho Bernardo Office Building Sells for $18M

A Rancho Bernardo office building known as The Bluffs has been sold for $18 million, according to CoStar Group and public data.

StarPoint Advantage Acquires Assets and Clients of Balti Group Consulting

StarPoint Advantage, a San Diego-based information technology services firm, said recently that it has acquired the assets and clients of a San Diego IT services firm, Balti Group Consulting, for undisclosed terms.

Mayor Bob Filner Appoints Walt Ekard as Interim Chief Operating Officer

Mayor Bob Filner appointed Walt Ekard, the retired San Diego County chief administrative officer, as the city’s interim chief operating officer.

Costa Mesa Firm Buys Carlsbad Industrial Property for $4.8M

Focus Real Estate LP of Costa Mesa has purchased an industrial building at Palomar Airport Business Park in Carlsbad for approximately $4.8 million, according to CoStar Group and public data.

San Diego Community College District is Refunding Some Bonds

San Diego Community College District is refunding some general obligation bonds issued in 2007 in a process that should save property owners within the district an estimated $2 million on their tax bills, the district said.

Albert P. Pisano Named Dean of Jacobs School of Engineering

The Jacobs School of Engineering at UC San Diego has named Albert P. Pisano as its dean.

Monday, July 15

Leap Wireless International to Be Acquired by AT&T for $15 Per Share

Leap Wireless International, the San Diego flat-rate wireless carrier doing business under Cricket, said it’s agreed to be acquired by AT&T for $15 a share, or nearly $1.2 billion.

La Jolla Firm Buys Coronado Retail Center for $21.5M

An affiliate of La Jolla-based Paragon Real Estate Fund has purchased the Coronado Plaza retail complex in Coronado for $21.5 million.

One Industries Acquired by Transom Capital Group

One Industries, a San Diego-based maker of protective gear, helmets and other items for motocross and mountain bicycle riders, said it was acquired by Transom Capital Group, a Los Angeles private equity firm, for an undisclosed price.

Building Housing Gaslamp Restaurant Gets New Owner

HP Investors LLC of San Diego has purchased the Gaslamp Quarter building that houses the Buca di Beppo restaurant for $5.7 million. The 9,872-square-foot building is at 705 Sixth Ave.

Patent Prowess Gives San Diego No. 2 Ranking on Most Innovative Cities List

San Diego is the world’s second-most innovative city, according to the Organization for Economic Cooperation and Development.

ROIC Adds Local Retail Center to Its Growing Portfolio

Retail Opportunity Investments Corp., also known as ROIC, has recently maintained a steady stream of shopping center acquisitions since officially moving its corporate headquarters to San Diego last year. The REAL ESTATE Column by Lou Hirsh

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MARKETING: Digitaria’s Talent, Technology Meet the Challenges of a New Market

Digitaria employs more than 130 people in San Diego, and it wades deep into the world of advertising and digital media.

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Craft Brewers Thrive, Drive Need for Space

PROPERTY: Industry Growth Expected to Continue for Years

Work space is filling up quickly at Port Brewing Co. and sister craft-brewer The Lost Abbey in San Marcos, which since 2006 have seen their physical operations grow from 7,500 to 40,000 square feet.

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Pasha Steers More Business to the Port

AUTO: Ford Exports, Fiat Imports Add to Firm’s Growth

Pasha Automotive Services, which ships cars mainly from Asia to a marine terminal in National City, will be moving vehicles in the other direction, shipping Fords to Japan.

Firm’s NYSE Listing Brings Growth Prospects

BIOTECH: Organovo Sees Big Market for Liver Tissue

Organovo Holdings Inc. has achieved another major milestone in its path toward commercialization — it’s off the OTC market and has been listed on the New York Stock Exchange.

Comic-Con’s Powers Really Are Super

TOURISM: Event Brings Wealth of Opportunities

San Diego Convention Center officials estimate that Comic-Con International, the venue’s biggest single event of the year, generates $175.4 million for the local region’s economy.

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Kickstarter Given A Role in Exec’s Writing Efforts

SDBJ INSIDER Column by Tom York

US Lending Is the Next Move for Global Analytics

FINANCE: It Plans to Serve ‘Underbanked’ Population This Year

Global Analytics knows there’s plenty of opportunity among the vast numbers of folks who shun traditional credit sources.

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Bikeway Village Seen as Hot Hub for Cyclists

PROPERTY: Designs Are Being Finalized For Coastal Property

Developers and Imperial Beach planners are looking to turn two underutilized warehouse properties into a buzzing commercial hub catering to South County outdoor enthusiasts already making use of the 24-mile Bayshore Bikeway.

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CoreLogic’s $661M Purchase Includes Dataquick Businesses

CoreLogic, an Irvine-based residential and property information and analytics business, said it entered into a definitive agreement to purchase three entities

Firm’s Antibody Test May Provide Early Warning of Possible Autism

HEALTH: Diagnostic Seen as Potentially Useful Tool in High Risk Groups

Nearly a quarter of all cases of autism could be detected with a simple blood test, according to San Diego-based Pediatric Bioscience Inc.

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Firm’s Mobile Technology Gives Its Clients a Reach Advantage

TECH: Platform Gathers Key Data and Connects With Customers

Companies both large and small are trying to make sense of mobile technology, but some are way ahead of the game.

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Five Allen Matkins Law Partners Leave To Start New Firm

The Business of Law

Five Allen Matkins partners are leaving the San Diego office to establish their own firm, in The Business of Law column by Randy Frisch

OliverMcMillan Sells 3- Property Lofts Portfolio Developer Oliver


Breaking news from

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Small Business Lending Is Showing Signs of Improvement

Although it took a while, more lenders are loosening their purse strings, and making more small business loans. FINANCE Column by Mike Allen


Paul Bernstein, M.D., FACS, is the area medical director for Kaiser Permanente in San Diego

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PROFILE - Honoree 1998 Tamar Elkeles

20th Anniversary Women Who Mean Business Retrospective

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Jacobses’ Generosity Is Again on Display at the New Library


Joan and Irwin Jacobs are committing to a $10 million matching gift for the San Diego Public Library Foundation... in the KUDOS/GIVING Column by Emily Pippin

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HEALTH: Telemedicine Targets the Inefficiencies Of Health Care Delivery

SPECIAL REPORT - TELEMEDICINE: The overcrowding of emergency departments has long been a major driver of the nation’s health care cost crisis.

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Saturday, July 13

Soitec Completes San Bernardino County Plant; Solar Modules Were Built in San Diego

French company Soitec Solar Development LLC has completed the construction of its Newberry Solar 1 power plant in San Bernardino County.

Friday, July 12

Ashford University Granted Key Accreditation; Bridgepoint Shares Rise

Shares of Bridgepoint Education Inc. were up 20 percent July 11 to $15.12 on the New York Stock Exchange following news the day before that one of the San Diego company’s academic units Ashford University was granted accreditation for five years by the Western Association of Schools and College.

Local REIT Buys Livermore Shopping Center for $17.5M

San Diego-based Retail Opportunity Investments Corp. has purchased a 69,325-square-foot shopping center in Livermore for $17.5 million.

Mission Valley Location Will be 13th Local Store for BevMo!

Concord-based retailer Beverages & More Inc. plans to open its 13th San Diego County location of BevMo! on July 26, at 5644 Mission Center Road, in San Diego. The 9,813-square-foot store will also be the company’s second location in Mission Valley.

Homebuilder Taylor Morrison Buys Rancho Santa Fe Lots for $10.2M

Taylor Morrison Homes of California LLC has acquired 29 finished estate lots in Rancho Santa Fe for approximately $10.2 million. The lots are in Montagna, a residential development located within the master planned community of Cielo.

Conatus Pharmaceuticals to Price IPO at $10-$12 Per Share

San Diego-based Conatus Pharmaceuticals Inc. has announced it will price its IPO at $10 to $12 per share, after filing its $69 million IPO last month.

Sente Inc. Appoints Michael York as President and CEO

San Diego-based skincare product developer Senté Inc. has appointed a new chief executive. Michael York will serve as president, CEO and a member of the board of directors.

Thursday, July 11

ViaCyte Inc. Raises $10.6M In Private Financing

ViaCyte Inc. announced it has raised $10.6 million in private financing to support the clinical development of its artificial pancreas, which could treat type 1 diabetes.

Northrop Grumman Drone Makes History With Carrier Landing

An unmanned aircraft engineered in San Diego by Northrop Grumman made a historic first carrier landing July 10 off the coast of Virginia.

Kaplan International, Brazilian Steakhouse Take Spots at Gaslamp Site

Education services provider Kaplan International North America and upscale Brazilian-style steakhouse Fogo de Chao will be occupying the former Borders Books & Music building in the Gaslamp Quarter by the end of summer.

Tech Coast Angels Accepting Applications for Quick Pitch Competition

The Tech Coast Angels, the largest angel investor group in the nation with a chapter in San Diego, said it’s accepting applications for its upcoming Quick Pitch competition Sept. 26.

J. Craig Venter Institute Researcher Awarded $5M Grant

The J. Craig Venter Institute, a La Jolla-based not-for-profit genomic research organization, announced that one of its scientists has been awarded a $5 million grant to continue her research into new wastewater treatment technologies.

Wednesday, July 10

San Diego Padres President and CEO Tom Garfinkel Resigns

Tom Garfinkel, the San Diego Padres president and CEO, resigned from the job and was replaced by Executive Chairman Ron Fowler, who will serve until a permanent replacement is found, the Padres said.

WD-40 Co. Reports Net Income of $10.3M for Q3

WD-40 Co., the San Diego maker of the all-purpose lubricant and other household products, reported fiscal third quarter net income of $10.3 million, up 12 percent from the like period of 2012.

Boutique Hotel in Little Italy Gets New Owner

Hotel Vyvant, a 23-room boutique hotel at 505 W. Grape St. in downtown San Diego, has been sold for $2.2 million, according to a statement from brokerage firm NAI San Diego, which represented the seller.

Organovo Holdings Inc. Approved to List Shares on the New York Stock Exchange

Shares for Organovo Holdings Inc. spiked 26 percent after the company announced it has been approved to list its shares on the New York Stock Exchange beginning July 11.

Irvine Co. Building in Downtown San Diego Gets International Award

Irvine Co.’s 101 W. Broadway office tower in downtown San Diego was among 14 U.S. buildings honored by BOMA International, in its annual The Outstanding Building of the Year (TOBY) awards competition.

Nominations Open for San Diego Business Journal’s Women Who Mean Business Awards

Nominations are now open for the San Diego Business Journal’s 20th Annual Women Who Mean Business Awards.

Tuesday, July 9

General Dynamics Nassco to Receive U.S. Navy Contracts for Design Work on Oilers

San Diego-based General Dynamics Nassco and two other U.S. shipbuilders will receive U.S. Navy contracts to do preliminary design work on a new class of fleet replenishment oilers.

OliverMcMillan Sells 3-Property Lofts Portfolio to Pension Fund

Developer OliverMcMillan of San Diego has sold a three-property East Village multifamily portfolio known as The Lofts, with a total of 460 residential units and 23,000 square feet of ground-floor retail space.

Indyme Solutions and Alert Systems Integrate Technology for Loss-Prevention Tool

Indyme Solutions, a San Diego designer and maker of emergency response systems for the retail industry, said its technology was integrated with Alert Systems detection systems to detect when a “booster bag” enters stores.

New York Genome Center to Purchase the Irys System from BioNano Genomics

The New York Genome Center will purchase the Irys System from San Diego’s BioNano Genomics Inc., as part of what the companies call a strategic partnership. Financial terms of the deal were not disclosed.

Transit District Launching Mobile App for Coaster Tickets

Local Coaster train travelers will soon be able to purchase paperless tickets on their smartphones, via a new mobile app available for free downloads on Android devices starting July 15.

Median Priced Home in San Diego County Rises 3 Percent in June

The median priced home in San Diego County rose 3 percent in June from the previous month to $481,000, according to the Greater San Diego Association of Realtors.

Monday, July 8

CoreLogic’s $661M Purchase Includes Dataquick Businesses

CoreLogic, an Irvine-based residential and property information and analytics business, said it entered into a definitive agreement to purchase three entities — Marshall & Swift/Boeckh; Dataquick Information Systems; and the credit and flood services operation of Dataquick Lender Solutions — from the Decision Insight Information Group in a deal valued at $661 million.

ViaSat to Receive $166.3M in Military Radio Work

Carlsbad-based ViaSat Inc. will receive a contract modification worth $166.3 million on a communication system for the U.S. military, the Defense Department announced.

Local REIT Buys Kearny Mesa Retail Center for $41.5M

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, has purchased Hawthorne Crossings, a retail center in Kearny Mesa, for $41.5 million, according to CoStar Group.

Oceanside Hospitality Property Sells for $3.4M

Amanpur Investments LLC of South El Monte has purchased the hospitality property that includes Pacific Best Value Inn of Oceanside for $3.4 million, according to CoStar Group.

RF Industries Joins Russell Microcap Index

RF Industries Ltd., the San Diego designer and maker of coaxial and custom cable assemblies, said it joined the Russell Microcap Index.

Quake Global Opens Tokyo Office

Quake Global Inc., a San Diego manufacturer of machine-to-machine devices for satellite and terrestrial networks, is opening an Asia sales office in Tokyo.

In This Issue: Intellectual Property Gets a Closer Look

Monday’s edition of the San Diego Business Journal will feature an insider’s look at some of the breaking issues in the world of Intellectual Property.

Business Events Calendar

Business events in and around San Diego for the week of July 8-July 14.

Beach Ball Draws Supportive Crowd for Heart Association

Kudos/Giving Column

The American Heart Association’s 2013 San Diego Heart Beach Ball raised more than $600,000. The event, held at the Hotel del Coronado, featured local philanthropist Darlene M. Shiley as the keynote speaker.

Financing Climate Spurs Hotel Growth

HOSPITALITY: Planned Downtown Site Is 22-Stories

JR Legacy Holdings LLC has plans for a $65 million, 410-room hotel in downtown San Diego’s Columbia neighborhood, which some observers see as a sign of a continued thawing in financing prospects for large new hospitality projects.

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Zion Market Move Brings Space for Much More

RETAIL: Store Arrives With an Entourage Of Other Businesses

Like the local population it aims to serve, specialty grocer Zion Market was growing at a fast pace and needed a bigger space to operate.

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GA Adapts Predator B To Changing Mission

AIRCRAFT: Firm Eyes Sales Abroad, Civilian Uses

General Atomics Aeronautical Systems Inc. said recently that it plans to develop a new version of its Predator B remotely piloted aircraft.

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Leading Ladies

BUSINESS: Women Owners, Execs Succeed In Leadership Roles

Thirty years ago, Celia Hunter was one of only two women majoring in construction management at Oklahoma State University. She is now the founding CEO of a San Diego construction management firm, Hunter Pacific Group, which employs 28 and has had contracts ranging up to $1.3 billion.

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Knowledge Is Power, When It Comes to Energy-Use Data

ENERGY: Green Box’s Software Brings Reports, Sustainability Into Focus

A San Diego company is looking to do for building-related energy data processing what Intuit Inc.’s TurboTax did for those who hate slogging through complicated paperwork to file their tax returns.

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GA Researching More Efficient Nuclear Reactor

ENERGY: Firm Expects to Get $1M in Federal Funds For Fuel Rod Work

The U.S. Department of Energy said recently that General Atomics will receive federal funds to develop advanced nuclear reactor technology.

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A Formula For Success

BIOTECH: Allylix Is in Position to Prosper From Demand for Flavors

Business opportunity can come in some unwelcome ways. Citrus greening — a devastating worldwide disease for crops like oranges, grapefruits and limes — may prove beneficial for a San Diego developer of fragrance and flavoring agents.

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The Port Holds the Key to Greater Prosperity


“Blue economy,” “aqua economy,” “blue-tech,” maritime industry, export initiatives: You probably hear one or more of these on a regular basis. With so much recent interest in our working waterfront, it seems like we are just “discovering” our port’s enormous economic development potential.

Executive Profile: Shandon Harbour

SDA Security is one of the leading safety and security providers in Southern California. Family owned and locally operated since 1930, SDA is a full-service shop which offers advanced burglary and intrusion detection, fire and environmental monitoring.

Trailblazer Luth Research Advanced By Adopting New Technology

RESEARCH: Firm Expects to Grow 35% This Year

It started as a door to door solo mission. In 1977, Roseanne Luth would walk from house to house, asking homeowners to fill out product surveys, organizing church assemblies to do focus group taste testing —tapping into the consumer’s psyche to learn what beer or detergent or radio station the market liked best.

State Survey Gives a Glimpse Into Executive Pay at Banks

Finance Column

Banker salaries in California increased again last year, but the pay was much better at the biggest banks.

Regional Report

News and notes from communities around San Diego County

Germany-based Kontron, which has its U.S. office in Poway, said it has introduced its StarVX high-performance embedded computer.

Two Local Biotechs Announce Positive Clinical Data, Stocks Soar

Biotechnology Column

Announcing positive clinical data can have a critical effect on a biotech’s stock value — as evidenced recently Halozyme Therapeutics Inc. and Isis Pharmaceuticals Inc.

Venture Summit Gives ‘Cool Companies’ a Chance to Impress

FINANCE: Valuable Connections and Funds Can Be Found at Event

epreneurs arrives July 12. Indeed, the networking will be at full speed when more than 100 venture capitalists nationwide join 400-plus other attendees for the annual “venture summit” at the Hilton San Diego Bayfront.

Snapdragon Is on Board for LTE Advanced Roll Out in Asia

TECH: Data Speeds Said to Be Double the Usual 4G LTE Speeds

San Diego-based Qualcomm Inc. said recently that its Snapdragon processors will power smartphones on some of the fastest commercial wireless networks in the world.

Tri-City, Fallbrook Districts Seek to Staunch Patient Flow to Palomar

HEALTH: The Two Are Planning Ways to Partner in Patient Care

Oceanside’s Tri-City Healthcare District has taken a small, but significant step to bolster its position in North County’s increasingly competitive landscape for hospital patients.

Venture Capitalist Finds a Way to Bottle Success

SDBJ Insider

Kevin Kinsella, founder of La Jolla-based venture capital firm Avalon Ventures and arguably one of the San Diego’s most successful VCs, especially in the biotech arena, has been spending a lot of time of late at his Kinsella Estates Winery in Sonoma County directing the bottling of 600 cases of cabernet grapes harvested from his vineyards in 2011.

El Cajon Car Dealers Mobilize Their Forces

AUTO: Dealerships, City See Pluses in Forming Trade Group

El Cajon’s car dealers are forming a new trade group aimed at boosting the profile and fortunes of all 12 dealers through mutual sales events and advertising.

Maxwell, Soitec Become A Green Power Couple

ENERGY: UCSD Project Blends Collection and Storage

In a proverbial ‘build a better mousetrap’ maneuver, two San Diego companies are joining forces in a demonstration project to create a more efficient solar energy system.

Friday, July 5

Encore Closes $177M Deal for Majority Stake in Cabot

Encore Capital Group Inc., the San Diego collector of charged off credit card debt, said it closed the acquisition of the controlling equity stake in Cabot Credit Management Ltd. for $177 million.

La Jolla Pharmaceutical to Test Kidney Drug Candidate

The La Jolla Pharmaceutical Co. has announced that the U.S. Food and Drug Administration has accepted the company’s Investigational New Drug application for patients with a rare life-threatening form of kidney failure.

Toll Road’s Financial Strategy Working, Sandag Reports

The San Diego Association of Governments, the regional transportation planning agency, said reducing tolls on the state Route 125 toll road from Lemon Grove to the international border is working.


San Diego-based ATA Engineering has received the 2012 George M. Low Award from NASA. The prestigious award distinguishes contractors for their exemplary technical and managerial performance.

Affordable Care Act Provision Affecting Businesses Delayed to 2015

San Diego businesses have another year to go before they’re mandated by the Affordable Care Act to provide their employees with health insurance, the Obama administration announced July 2.

Local Resorts Among Top Properties in Magazine’s Survey Ranking

The Grand Del Mar resort in Carmel Valley recently ranked fourth overall, and first among California properties, in the latest annual global ranking of luxury resorts by Travel + Leisure magazine.

Lazy Dog Opens First San Diego County Restaurant

Orange County-based Lazy Dog Restaurant & Bar recently opened its first San Diego County restaurant in Mission Valley.

Wednesday, July 3

San Diego-Based EcoATM Sells for $350M

EcoATM, the San Diego business that operates automated kiosks that recycle unwanted electronic devices, was acquired by Bellevue, Wash.-based Outerwall, formerly known as Coinstar, for $350 million in cash, the companies said.

Excel Trust Buys Manteca Retail Center for $41M

San Diego-based investment firm Excel Trust Inc. has purchased Stadium Center Shopping Center, in the Central Valley city of Manteca, for $41.15 million.

Acadia Pharmaceuticals Goes on Russell 2000 Index

San Diego-based Acadia Pharmaceuticals Inc., a company that develops treatments for neurological disorders, has been added to the Russell 2000 Index.

More Restaurants and Shops Join Airport Retail Lineup

New locations of Best Buy Express, Duty Free Americas and Starbucks are among recently opened additions to the retail roster at San Diego International Airport, bringing to 16 the number of stores and shops debuting at the facility during the past several months.

Consumer Reports Applauds Locally Produced Ale

Stone IPA, a product of Stone Brewing Co., got top marks in a recent Consumer Reports ranking of craft beers.

Tuesday, July 2

Cytori Enters $27M Term Loan With Oxford Finance and Silicon Valley Bank

San Diego-based Cytori Therapeutics Inc. announced it has entered into a four-year, $27 million term loan with Oxford Finance Corp. and Silicon Valley Bank.

La Mesa Apartment Complex Sold for $17.8M

Investor Yoshiteru Kawase has purchased the 110-unit Vista Amaya Apartments in La Mesa for $17.8 million.

Pathway Genomics Partners With ParkwayHealth, to Bring Its Genetic Testing to Asia

San Diego-based genetic testing company Pathway Genomics Corp. has partnered with ParkwayHealth Laboratory Services Ltd., an ancillary service of Parkway Pantai Ltd., the largest private health care provider in Singapore.

Summit Performance Group Merges with Adelman Travel to Form AdelmanSummit

Summit Performance Group, a San Diego event management and travel services business, said it has merged with Adelman Travel, a travel agency based in Milwaukee, Wisc., to form AdelmanSummit.

Alaska Airlines Adding Local Service to Idaho, Mammoth Mountain

Alaska Airlines plans to begin new daily service between San Diego and Boise, Idaho, on Nov. 1, and daily seasonal service between San Diego and Mammoth Mountain Ski Area in California on Dec. 19.

U.S. Navy Rear Adm. Patrick J. Lorge to Be Named New “Navy Mayor”

San Diego gets a new “Navy mayor” at 1 p.m. Tuesday.

Monday, July 1

Urban Outfitters to Open Store at Fashion Valley in July

Philadelphia-based retailer Urban Outfitters plans to open a new store in July at Fashion Valley mall in Mission Valley, at 7007 Friars Road. An exact opening date has not been announced.

Apmetrix Releases Analytics Platform for Mobile Apps

San Diego-based Apmetrix Inc. announced recently that it has released an analytics platform for mobile apps — which it calls the fastest, most customizable product on the market.

Umami Sustainable Seafood Enters Amended Credit Agreement with Amerra Capital

Umami Sustainable Seafood Inc., and its subsidiary Baja Aqua Farms SA de CV, said it entered into an amended credit agreement with Amerra Capital Management LLC for a credit line of up to $64 million.

Tri-City and Fallbrook Healthcare Districts Enter Joint Powers Agreement

The Oceanside-based Tri-City Healthcare District has entered a joint powers agreement with the Fallbrook Healthcare District — meaning the two districts will share health care services and programs.

North County Transit District Expects Record Ridership in FY2014

The North County Transit District, which oversees passenger train and bus systems including Sprinter, Coaster and Breeze, is projecting the highest ridership and revenue in its history for fiscal year 2014, with more than 12.6 million riders expected to generate fare revenue of nearly $19.3 million.

Approximately 600 Employees to Be Laid Off From San Onofre Nuclear Plant

About 600 employees will be laid off from the San Onofre Nuclear Generating Station as the nuclear power plant prepares to shut down, Southern California Edison said.

Business Events Calendar

Business events in and around San Diego for the week of July 1-July 7.

Local Restaurants Help Make a Wish Come True for Child


San Diego Panda Express restaurants raised $7,000 through fundraising efforts to fulfill a local boy’s Make-A-Wish dream of meeting Olympic swimmer Michael Phelps. Between April 19 and May 2, Panda Express donated $1 of every Samurai Surf & Turf food purchase to the cause.

Real Estate Roundup

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

Cushman & Wakefield announced the sale of 6179 El Camino Real in Carlsbad for $1.8 million. Bob Willingham and Ron King of Cushman & Wakefield represented the seller, As If Holdings LLC. The buyer, He Jaamms Holdings LLC, was represented by Steven Field of Cassidy Turley.

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Executive Profile: James Brennan

James Brennan came to San Diego in 1992, straight from high school in Manhattan. After graduating from the University of San Diego, he originally made his career in the real estate world. First, in mortgages where he personally funded over $500M in loans and was named to the Mortgage Originator Magazine Top 200 in the Nation five years in a row.

Winning at ‘Table Games’

DINING: Some Local Restaurateurs See Right Time to Bet on Expansion

Consumers remain in a cautious mood when it comes to spending on meals outside the home, but several San Diego County restaurant operators see enough improvement happening in the economy to continue planning new locations and business expansions.

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Gourmet Quality Fare Rolls Up on Food Trucks Across San Diego

RESTAURANTS: Gourmet Food Trucks Number About 50 and Growing in the County

For years, Francisco Moreno’s mother ran a taco truck. Now he is opening up his own. But unlike his mother’s, which served traditional Mexican fare, Moreno’s concept fits in with the burgeoning trend of gourmet food trucks that have been sprouting up around the country.

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Navy Federal Expands Local Branches to 19, Plans to Add More

Finance Column

Navy Federal Credit Union, the world’s largest credit union with about $54 billion in assets and 4 million members, continues growing in San Diego. The Virginia-based institution added some 30,000 members in the past year and a half to bring its total to 330,000 in San Diego County, making it the biggest credit union by membership.

Report Finds Funding Cuts Are Taking a Toll on Justice System

The Business of Law

The San Diego County Bar Association has released a report on the State of the Judiciary in San Diego County, which shows the first ever snapshot of the current state of San Diego’s courts and urges the Legislature to reinvest in the judicial branch. The California courts budget has been cut a lot more than other agencies. (It only hurts lawyers, right?) The budget cuts have led to court closures, staff layoffs and furloughs, and case backlogs, adversely impacting the ability for individuals and businesses to resolve their legal disputes in a timely manner, which hurts us all.

Carlsbad Contractor Devises Robotic Pack ‘Mule’ of the 21st Century

DEFENSE: Company Creates Battle-Ready Robotic Software and Hardware

Our soldiers and Marines carry heavy loads into combat in those distant battlefields. Their rucksacks can weigh 100 pounds and more, jammed with fuel, food and water, not to mention a generous supply of ammunition.

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Qualcomm Inc.’s Vuforia Takes an Image and Runs With It

TECH: Platform Brings ‘Augmented Reality’ To Life on Devices

Software from Qualcomm Inc. is adding a new dimension to smartphones and tablet computers. Not to mention imaginative twists such as banjo-playing frogs. Large corporations, catalog publishers and even museums in San Diego’s Balboa Park are adapting Qualcomm’s Vuforia software to meet their needs.

Targeted Drug Delivery System Puts Cancer in the Cross Hairs

BIOTECH: Medicine Is Given Clean Shot While Avoiding Immune Responses

Cage-diving wiffle ball nanotechnology — that’s how Inanc Ortac, a graduate student at UC San Diego, describes his award-winning approach to cancer therapy. Ortac’s company, called DevaNano Inc., has developed miniature cages made out of silica — a component of glass — that encapsulates cancer drugs, rendering them safer in terms of preventing hideous side effects associated with cancer.

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Tourism Marketing Funds on Hold Pending Waivers

TOURISM: Officials Will Distribute Small Portion Of Collections in August

Local officials are optimistic about getting past the latest in a series of funding and other obstacles recently facing the San Diego Tourism Marketing District, the primary support mechanism for the city’s tourism promotion efforts.

Carlsbad Aims to Make a Better Business Climate

GOVERNMENT: City Looks to Ease Some Rules and Requirements

The City of Carlsbad is in the midst of overhauling its planning and zoning rules, in a bid to make its central downtown Village district more welcoming to new businesses like microbreweries, wineries and high-end restaurants.

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Survival Will Be On the Itinerary At New Resort

SDBJ Insider

Del Mar businessman Robert Vicino has been the focus of national media coverage of late for a very unusual project. The news stories detail his purchase of a former military storage facility in Atchison, Kansas, which he and a partner are transforming into a survivor complex where as many as 5,000 people can ride out a nuclear war or deadly virus pandemic in their RVs.

SDG&E Sees New Plant In the Region’s Future

POWER: Sunrise Powerlink Is Key in Replacing San Onofre

San Diego Gas & Electric says it has sufficient power generation to meet the region’s needs, even without the San Onofre nuclear power plant, but it’s obviously hedging its bets by seeking approval for a natural gas peaker plant in Otay Mesa, one that state power regulators denied in March.

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Bridgepoint Attempts A ‘Course Correction’

EDUCATION: Accreditation Efforts, Staff Cuts Bring Change

As Bridgepoint Education Inc., the San Diego for-profit provider of college classes mainly through online channels, awaits a decision on the accreditation of Ashford University from one entity, it’s pursuing a parallel effort to maintain the university’s current accreditation.

Multifamily Is One of the Strong Sectors in Mixed Market

Real Estate Column

Investors nationwide view San Diego County’s commercial real estate market as a mixed bag of long-term prospects, according to results of the latest quarterly survey by the consulting firm Pricewaterhouse Coopers, also known as PwC.

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USFL Takes Hit as Its Ex CEO Takes Plea Deal

SPORTS: League Says It Will Continue, Launch Delayed a Year

The San Diego organization trying to resurrect the United States Football League said it’s still moving downfield despite taking a massive hit when its former chief executive pleaded guilty to embezzling more than $1 million from another company.

Downtown Developers Put Multifamily First

PROPERTY: Six Apartment Projects Under Construction

A new 279-unit apartment complex with other mixed-use amenities, proposed for an East Village site by MB Property Acquisitions of San Francisco, recently joined a growing list of multifamily projects either under construction or in the pipeline for downtown San Diego.

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A Light Heavyweight

TECH: ASML, Cymer Now on Same Team in Precision Work on Chips

ASML Holding NV’s $3.7 billion purchase of Cymer Inc. will focus more corporate resources on technology to produce ever-smaller, more capable microchips, Cymer executives said during a post-acquisition interview.

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