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Volume 32, Number 15 THE COMMUNITY OF BUSINESSTM April 11-17, 2011 $2.00
Real Estate
3FOBUB4JNSJMPG +POFT-BOH-B4BMMF TBZTTPNFGFEFSBM BHFODJFTBSFTFFLJOH PRODUCTS OF OUR NPSFPGàDFTQBDFJO 4BO%JFHP Page 10 ENVIRONMENT Rubio’s “does a really good job Public Relations, agrees that the Housing MARKETING: Region’s of owning something,” said Daniel name Rubio’s goes with the phrase Famous Brands Include Khabie , founder and chief executive “fi sh taco.” “ ‘McDonald’s Fish Taco’ offi cer of Digitaria Interactive Inc. , a doesn’t have the same cachet.” Zoo, WD-40, Hotel Del San Diego-based digital marketing Rubio’s has done a good job of agency. In today’s marketplace, a articulating the fi sh taco story, says ®Ê#Z#3"%(3"7&4 person looking Khabie. The fi rm tells about founder ubio’s Inc. , the Carlsbad for fi sh tacos has Ralph Rubio discovering the offbeat eatery chain, may now be many options, dish while on a college trip to San owned by a private equity “but Rubio’s is Felipe, Mexico. The focus on the fi rm in Connecticut. As far top of mind.” fi sh taco, however, may have made it Ras local branding experts are con- Dick Daniels , harder for the business to diversify, cerned, however, the quick-service principal of Es- Khabie notes. 5IFNBSLFUGPS chain still has its bare feet in the Baja condido-based OFXIPNFTJT California sand. Dick Daniels ¨Brands page 27 JNQSPWJOH TBZT %JDL%BOJFMT #SPPLàFME)PNFT 4UFWF%PZMF 1IPUPTDPVSUFTZPG)PUFMEFM$PSPOBEP 8%$PBOE%FM.BS5IPSPVHICSFE$MVC Page 17 5IF)PUFMEFM$PSPOBEP %FM.BSSBDFUSBDL 3VCJPTàTIUBDPT $PNJD$POBOE8%MVCSJDBOUBSFBNPOHUIFSFHJPOTNPTUJDPOJD CSBOET'PSBDPNQMFUFMJTUPGUIFDPVOUZTNPTUGBNPVTQSPEVDUTBOEQMBDFT TFF1BHF
The Lists: 3FTJEFOUJBM3FBM &TUBUF"HFODJFT 3FTJEFOUJBM1SPQFSUZ Cluster’s Founding Father Leads Firm Companies .BOBHFNFOU $PNQBOJFT Hale, 62, joins Biocept as Inside BIOTECH: Biocept Names executive chairman of the Look to Make David F. Hale Its Executive board, the fi rm announced April 5, but will be essentially Chairman, Seeks Financing serving as the head of the Most of Coast company because it doesn’t ®Ê#Z,&--:26*(-&: have a chief executive offi cer. David F. Hale , considered by many to be a Stephen Coutts left at the end PLANNING: $32M Hotel, founding father of San Diego’s mighty biotech- %BWJE')BMF of 2010 when Biocept shifted $15M Retail Center Among nology cluster, has taken the helm at Biocept , a to commercializing its non- cancer-focused diagnostic and laboratory ser- invasive cancer cell detection tests. Upgrades in Imperial Beach vices company that’s getting ready to launch its fi rst product in July. ¨Hale page 27 ®Ê#Z-06)*34) After years of economic setbacks, the City of Imperial Beach is making progress on projects that it hopes will someday help New Laundry Service Is Cleaning Up it snag visitors away from glitzier San Diego beach communities to the north. said the business obtained several contracts San Diego-based Pacifi ca Host Hotels, HIGH-TECH: Energy-Saving from three of the area’s biggest hospital systems: part of Pacifi ca Cos., recently began con- Scripps Mercy Medical Group, Sharp Health- System Helps Emerald Win struction on the $32 million Seacoast Inn, Care , and the UC San Diego Health System . a 78-room, full-service hotel replacing a “We’ve done well in the RFPs (requests for Lucrative Hospital Contracts 1950s-era motel that once occupied a prime proposals or bid packages) that were sent to us,” oceanfront site. The project received $12 ®Ê#Z.*,&"--&/ Gildred said. “We haven’t gotten all of them, but million in fi nancing from Wells Fargo and we’ve done well.” Since it opened for business in September, Em- $7 million in support from the city’s rede- The compelling factor helping to win contracts erald Textiles, an Otay Mesa industrial laundry, velopment agency. for supplying the hospitals with clean linens has been winning. Also, San Diego-based developer Sudberry Tom Gildred , the company’s chief executive, ¨Laundry page 26 ¨Imperial Beach page 26
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APRIL 11-17, 2011 VOLUME 32, NUMBER 15
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ON THE COVER QUOTE OF THE WEEK LIFE SCIENCES — Biotech pioneer to lead company. MARKETING — The region’s most famous brands. ‘We see volumes in sales PLANNING — Imperial Beach looks to make most of increasing in 2011. We its coast. STARTUP — Laundry service has heavy-duty success. certainly have seen a lot of COMMENTARY price stability. My impression is that consumers are REAL ESTATE — Defining the new normal relative to understanding that real estate real estate ...... 39 % ( )"*$!+ $,+ + is undervalued and in the long CONSTRUCTION term it is a good investment.’ $ % & $' SPECIAL REPORT — Residential developers set sights — Guy Asaro, president of McMillin Homes. on reconstructing business; for some builders, smaller, To read the story, please turn to Page 17. lower priced homes are better ...... Starts on page 17 DEFENSE INVESTMENTS & FINANCE TECHNOLOGY — Northrop Grumman receives Parents & Business Members contract for drone support ...... 3 TECHNOLOGY — Funding helps ecoATM answer the electronics recycling call ...... 8 w e i n v i t e y o u t o ENERGY TRANSPORTATION — Toll road operators seek buyer to rescue venture from bankruptcy ...... 10 Toast A Teacher CONSERVATION — Challenging projects are creative TRADING — San Diego Stock Chart ...... 36 outlet for Astro Energy’s talents ...... 6 Celebrate excellence in education REAL ESTATE — County Operations Center earns THE LISTS by honoring Carlsbad’s teachers. LEED Gold certification ...... 21 REAL ESTATE — Residential Real Estate Agencies . 20 FEATURES REAL ESTATE — Residential Property Management Companies ...... 22 COLUMN — SDBJ Insider ...... 3 COLUMN — Numbers show changes, as reported in PEOPLE the Business in the North County column...... 13 REPORTING — News in Brief ...... 5 SPECIAL REPORT — Executive Profile: Paul Barnes
ROUNDUP — Regional Report ...... 25 of Shea Homes San Diego ...... 19 Agenda COLUMN — Fierce fundraising efforts help cancer Q&A — Executive Profile: Jeff Graham of the Centre fight, as reported in the Kudos/Giving column ...... 38 City Development Corp...... 37 “A PARTNERSHIP BETWEEN EDUCATION & BUSINESS” GOVERNMENT PHARMACEUTICALS
WORK FORCE — With future of enterprise zones in FINANCE — Ligand to achieve profitability for first FRIDAY, MAY 20, 2011 doubt, firm may pack up, leave ...... 8 time, executive reports ...... 3 INNOVATION LA COSTA RESORT AND SPA AT 6 P.M. REAL ESTATE BIOTECH — ViaCyte takes Kyoto laureate’s work to ach year, the business community comes together to recognize the best and RETAIL — Markets tailored to Hispanic tastes ...... 5 next level ...... 3 COMMERCIAL — Local office market receives vote of brightest academic programs. Toast a Teacher with the Carlsbad Chamber of SPORTS BIZ — Self-correcting golf ball is a game confidence ...... 10 ECommerce and its Partners in Education Foundation. To sponsor a school, purchase changer for recreational players ...... 4 COLUMN — After shedding 10 hotels, Sunstone pads a corporate table or for more information, call (760) 931-8400 or visit www.carlsbad.org. portfolio with $1B in properties, as reported in the INTERNATIONAL Commercial Real Estate column ...... 13 THE ARTS ENTREPRENEURIAL PROGRAM INNOVATIVE PROGRAM TRANSACTIONS — Top Industrial and Flex Sales . 30 AWARD PRESENTED BY AWARD PRESENTED BY AWARD PRESENTED BY AQUACULTURE — Fishery catches on to need to ROUNDUP — Projects, developments and other activi- cultivate coveted bluefin tuna ...... 6 ties as reported in the Real Estate Roundup ...... 31
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"QSJM 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF Fan’s Old Stub ViaCyte Takes Proves to Be the Kyoto Laureate’s Winning Ticket Work to Next Level INNOVATION: Partners He’s got just the ticket! A Chicago Move Stem Cell Research Cubs baseball fan uploaded ticket No. To Diabetes Treatment Lab 5,000 on TicketS- ®Ê#Z."35:(3")". tubCollection.com, a local Web site run by A San Diego company that is working Kensington resident to bring to market a treatment for diabetes SDBJ INSIDER Russ Havens. Kasey derived from embryonic stem cells is also working with Kyoto Prize winner Shinya Tom York Ignarski, a lifelong Yamanaka — whose invention of a way fan of his favorite 1IPUPDPVSUFTZPG$ISJT(PPEGFMMPX(MBETUPOF*OTUJUVUFT to derive stem cells from skin cells has MLB team, uploaded a stub from game ,ZPUP1SJ[FXJOOFS4IJOZB:BNBOBLB XIPJOWFOUFEBXBZUPEFSJWFTUFNDFMMTGSPNTLJODFMMT one of the 1984 National League Cham- ¨Kyoto page 28 JTXPSLJOHXJUI7JB$ZUFUPCSJOHUPNBSLFUBUSFBUNFOUGPSEJBCFUFT pionship Series. Ignarski wins an over- sized historical ticket reproduction from ThatsMyTicket.com, among other items. TicketStubCollection.com displays im- Ligand to Achieve Profitability for 1st Time, Chief Says ages of historic and favorite tickets from K. Cooper & Co. in Irvine. He noted that LIGAND fans, along with a bit of the story behind BIOTECH: Drug to at the end of 2010, the company had an PHARMACEUTICALS INC. the stub … Accounting firm Pricewater- Increase Muscle Mass accumulated deficit of nearly $692 million. houseCoopers ranks SoCal as the third “The stock chart has been straight south CEO: +PIO-)JHHJOT most active region for investments in May Lead to $100M Deal for years and years. If you owned the stock Revenue:NJMMJPOJO venture-backed companies, with the Tech five years ago it was $70, and now it’s $10. NJMMJPOJO Coast Angels ranked as the No. 1 most ®Ê#Z,&--:26*(-&: The question is: Has it bottomed out? I Net loss: NJMMJPOJO active investment group here. Indeed, the Ligand Pharmaceuticals Inc. is on think it has.” NJMMJPOJO Orange County-based group is the largest track for its first profitable year, said Rob Ligand, a drug discovery and develop- No. of local angel investment network in the nation, McKay, the biotech’s senior director of ment company, was founded in 1987 and has employees: according to a spokeswoman. Members, business development. endured annual net losses every year in large Headquarters: many of whom reside in San Diego, con- “It will happen by the end of the part due to an expensive overall cost structure, -B+PMMB +PIO-)JHHJOT sist of lots of high-net-worth individuals year, not that it couldn’t happen earlier,” in addition to costly acquisitions and high Year founded: who prefer to invest in early stage startups McKay said. legal costs in recent years, Cohen said. Stock symbol and exchange: -(/%PO than in government bonds. More details For Ligand, that will mark a major turn at TechCoastAngels.com … County offi- /BTEBR of events. “The company has been so bad Focusing on Financial Growth Company description:"QIBSNBDFVUJDBM cials are inviting private citizens to submit for so long, it’s incredible,” said Jeffrey S. But the company began a transforma- their ideas for a redo of districts for the DPNQBOZUIBUGPDVTFTPOESVHEJTDPWFSZBOE Cohen, an analyst who covers Ligand at C. ¨Ligand page 28 EFWFMPQNFOU five board seats now that the 2010 census results have been released. The Redistrict- ing Advisory Committee will take all ideas submitted seriously, and publish them online for everyone to see. For details, Northrop Grumman browse on over to sdcounty.ca.gov/redis- tricting … The National City branch of Receives Contract Fast. Easy. the Boys & Girls Clubs, at 1430 D Ave., is set to dedicate Coryell Field in honor of For Drone Support the late Don Coryell, the inventive head ReadyNow®Offices coach of the San Diego State Aztecs and Northrop Grumman’s San Diego opera- San Diego, Orange County, Los Angeles & Silicon Valley San Diego Chargers, at 11:30 a.m. April tion received a $247 million U.S. Air Force 19. Coryell’s daughter, Mindy Lewis, and contract to provide logistics for its Global current Chargers head coach Norv Turner Hawk unmanned aircraft, according to will assist with the dedication … Laugh- an April 4 announcement from the U.S. ter, the best medicine for world peace? San Department of Defense. Diegans are set to help celebrate World The Warner Robins Air Logistics Center Laughter Day on May 1. Laughter Mat- at Robins Air Force Base in Georgia issued ters, a locally based nonprofit, sponsors the contract. the local laugh-in on that day. The goal is Defense Department deals specify a to achieve world peace. Visit laughtermat- variety of payment types. The Northrop ters.org for time and place … Accion San deal is a firm, fixed-price contract. Diego has scheduled its second annual The new contract covers air vehicles, Access to Capital Business Expo on April engines, payloads, ground segments and 16, with Mayor Jerry Sanders as celebrity support segments for Global Hawks used speaker. The gathering targets entrepre- in peacetime deployments, both in the neurs from southeast San Diego who are continental United States and abroad. in search of financing as well as advice on The Global Hawk is a spy aircraft seen how to run a business. Visit sedcinc.org as an eventual replacement for the high- California’s Largest Office Property Offerings for time and place … Finally. An addi- flying U-2 aircraft. Unlike the U-2, the tional local tie-in to the unfolding tragedy Global Hawk is a robot, operating on a in Japan. General Atomics Electronic pre-programmed mission. The variant Short, Flexible Lease Term Systems, based in Kearny Mesa, steps up known as Block 20 can reach altitudes to the plate and sends its remaining inven- greater than 60,000 feet. It can stay in one World-Class, Full-Service Management tory of dosimeters, or radiation measur- area up to 24 hours and can be in the air ing devices, to the Tokyo Electric Power for 36 hours. On-Site Cafés & Business Amenities Co., so that workers can better cope with Northrop said on April 4 that a Global the power plant disaster at Fukushima. Hawk has been providing aerial surveil- Highest Quality Business Environments Employees at the crippled nuclear plant lance following the March 11 earthquake there wear the devices, which alert them and tsunami in Japan. The builder is also Call for a tour today: 619 615-8000 when radiation approaches dangerous marking the 10th anniversary of a Global levels. Till next week. Hawk flight from Edwards Air Force Base Contributing Editor Tom York pens the to southern Australia. The flight made SDBJ Insider. Have a tip or a tidbit? Send the Guinness Book of World Records for them to [email protected], or tom.york@ longest nonstop unmanned flight. 600 W. Broadway, Suite 300, San Diego, California 92101 gmail.com. #SBE(SBWFT Thumbnails SDBJ User Guide Front Page Table of Content
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A look at innovative organizations, concepts, INNOVATION products and people at shows and online. After picking up rights to Self-Correcting Golf Ball Is a Game the ball, Felker says the fi rm conducted tests at Princeton University to determine how Changer for Recreational Players the ball works, and a number of improvements to the original 1IPUPDPVSUFTZ SPORTS BIZ: Design POLARA GOLF PG1PMBSB(PMG design were made. CTO: %BWJE'FMLFS 1PMBSB(PMGIBT The design was also tested at Helps Golfers Overcome SFTVSSFDUFE BO Financial data:/PU Golf Laboratories Inc. in Escon- JNQSPWFE WFSTJPO EJTDMPTFE dido, an independent testing facility Hooks, Slices on Drives PG B TFMGDPSSFDUJOH No. of local HPMG CBMM 5IF DPNQBOZ under the supervision of a San Diego State ®Ê#Z50.:03, employees: TBZTQFSDFOUPGQMBZFSTIJUUIF University statistics professor. CBMMJODPSSFDUMZ The word on the course is out; the self- Investors: correcting golf ball is in. JODMVEJOH'FMLFS POFPG Much Needed Help Polara Golf has been marketing a unique UIFPSJHJOBMFNQMPZFFTPG and the patents. More than 85 percent of all players hit the UIFUIFO$BMMBXBZ(PMG %BWJE'FMLFS ball wrong, Felker says, so the ball should ball at its Web site and weekend golf shows #BMM$P Some 35 years later, several investors, including Felker, decided to resurrect the ball prove a boon for weekend players. since launching sales fi ve months ago. Headquarters: $BSMTCBE And duffers have been lining up in droves for recreational players who seek to end some Felker says the ball should be teed high, to buy the balls, which correct hooks and slices Year founded: of the frustration of driving the ball. and hit with a high lofted driver for best so that long drives are much more accurate. What makes the company innovative: “Because our products are only for rec- effect. “The secret behind the science is the .BSLFUTBVOJRVFHPMGCBMMXJUIEJGGFSFOUMZTJ[FE reational golfers, they have no relevance to Kevin Snyder, shop manager at the Bal- dimple pattern,” said David Felker, Polara’s EJNQMFTàSTUEFWFMPQFEJOUIFTUIBUDPSSFDUT — and therefore will not impact or change boa Park Golf Course , said he started hitting IPPLTBOETMJDFTVQUPQFSDFOU BDDPSEJOHUP the balls about two years ago when fi rst ap- chief technology offi cer. “The same sort of UFTUJOHSFTVMUT — the USGA or the game for professional physics that keeps missiles going straight golfers,” Felker said. “Customers say they just proached by Polara for testing. makes our ball go straight.” want to have fun playing on the course.” “Their ball was 90 percent straighter than The dimples are deep at the circumference “past.” Felker said the company decided to sell the other balls I hit,” said Snyder. “I didn’t and tiny at the poles, which helps overcome Scientists Daniel Nepela and Fred Holm- on the Internet, as well as shows and retail even realize I was pulling to the left.” poor swings, he says. strom invented the sphere in the early 1970s, outlets, because of the growing popularity of “It’s crazy how straight the ball goes,” said Polara is a Carlsbad-based unit of closely- and they sold 100,000 balls under the “Happy online retail sites for golfers. Snyder, who has worked as an assistant golf held Aero-X Golf Inc. , located in Virginia. Hooker” brand. He notes that 14 percent of all U.S. golf pro at other courses. Felker, one of the early employees at the But the two inventors soon got into a dis- ball sales are conducted through the Inter- The Polara ball is just the fi rst step for the original Callaway Golf Ball Co ., also serves pute with the US Golf Association , which net, a percentage expected to increase to 19 new company, says Felker. as chair of the company, launched with capi- banned the design from USGA sanctioned percent in 2012. “Our goal over the next three years is to tal from 15 investors, most amateur golfi ng tournaments (“because it actually works,” One consulting fi rm says about 150 mil- introduce advanced technology products that enthusiasts. said Felker). The group makes up the rules lion balls are sold each year in the U.S. cover various aspects of the game to meet the for the professional game. The ball sells for a 25 percent premium needs of recreational golfers,” said Felker. The First Shot The two inventors sued, and settled for compared to the price of regular balls, says Tom York is a contributing editor for the The ball with the unusual design has a $1.4 million, walking away from the business Felker. However, Polara does offer discounts San Diego Business Journal.
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Is it Really None of My Buiness?
In this day where people seem to be sharing almost everything on Facebook, Twitter, and other social networking sites, it seems a little funny that people still don’t like it when the person sitting next to them in an airplane are looking at their laptop screen. For business Randy Abrams people, the saying “it’s none of your business” couldn’t be more true. The problem is that humans are very curious creatures and the lure of 1IPUPDPVSUFTZPG/BUJPOBM$JUZ a laptop screen is incredibly powerful. 7BMMBSUB4VQFSNBSLFUTEFCVUFEBTUPSFJOBGPSNFS3BMQITJO/BUJPOBM$JUZ Given the fact that if you pull out a laptop on a plane, train, bus, or even in a coffee shop there will be somebody who wants to see what you see, it is amazing Markets Tailored to Tastes of Hispanics Expand that business people seem to have little compunction begun to establish a presence in Arizona the agreement reached with Northgate about working on rather sensitive information where RETAIL: Grocers Take and Nevada. Gonzalez Markets to locate a 35,000- prying eyes do not only exist, but are attracted like Advantage of Supply All three are aiming to serve California’s square-foot store in the development, set moths to the light. rapidly expanding Hispanic household to open in 2012. I travel for business quite a bit and regardless of Of Vacant Retail Space base, capitalizing on shopping center The store will be Northgate’s seventh whether or not the data on my computer is sensitive, I ®Ê#Z-06)*34) dynamics that still favor tenants in many in San Diego County and the first chain want to choose who sees the information and when I communities. supermarket serving Barrio Logan in choose to let them see it. Many people do not realize that Fast-growing California supermarkets “There were big chain stores that went southern San Diego. Development officials this is actually easier than it sounds. There is a product catering to the Hispanic community are out of business in good locations, like say the store’s commitment helped move expanding their San Diego County pres- called a privacy filter. A privacy filter makes it so that Circuit City, and the grocers have been forward the long-stalled Mercado project you can see your screen when you look at it straight on, ence, filling big vacancies left by departing able to move in and get some great deals and will likely draw in other merchants and but the person next to you just sees a black screen. The retailers at older shopping centers and on leases,” Gotaas said. service businesses. providing a jump-start to long-delayed Newly released 2010 numbers from the David Morse, president and CEO of technology is quite effective. new developments. U.S. Census Bureau show that San Diego New American Dimensions, a multicultural There are multiple manufacturers of the privacy filters, In the past year, Sylmar-based Vallarta County’s Hispanic population grew 32 market research firm in Los Angeles, said but the one I am most familiar with is 3M. Privacy Supermarkets Inc. and El Super, a unit of percent in the past decade, to just over demographic trends suggest the Hispanic- filters run anywhere from about $30 to well over $100 Paramount-based Bodega Latina Corp., have 991,000. That growth topped the 27.8 per- focused grocers will continue to expand depending upon the size of the screen you need to cover. moved into vacated spots in National City. cent rate for California’s Hispanic popula- their Southern California footprint in There are also privacy filters available for smartphones, And Anaheim-based Northgate Gonzalez tion, and the 10 percent rate for San Diego years to come. although the one I tried for my Blackberry would not Markets will anchor Mercado del Barrio, a County’s general population. First-generation immigrants especially stay on the screen. mixed-use development where construction like the stores because their employees and It is important to note that a privacy filter is a will soon get under way in San Diego’s Bar- Opportunities in Big Boxes signs are bilingual, and their large size al- rio Logan neighborhood. completely different product from a glare filter, don’t Gary Buxton, vice president of Texas- lows one-stop shopping for the foods that confuse the two of them. A glare filter does not protect “These are big retailers with very solid based retail consulting firmBuxton Corp., Hispanic families prefer, such as hand- your data from prying eyes. For my laptop I like the operations,” said Chris Zapata, city man- said those shifts have been key to filling made tortillas and fresh meats, fruits and ager of National City, which was hit with big-box retail vacancies in places like vegetables. 3M gold series filters. The gold series filters cost a five big-box vacancies — spaces of 30,000 California, which have large immigrant “They’re able to set up shop in neighbor- little bit more but claim to reduce the viewing angle square feet and larger — when chain retail- communities that are often underserved hoods where a Vons or a Ralphs decided a bit more. ers either went defunct or closed selected by traditional supermarket chains. not to establish a presence, and even where Just for the record, I do not work for 3M, I do not locations starting in 2008. “They’re being replaced by other retail- they do have stores, the traditional grocers own stock in 3M (unless it’s in a mutual fund), and I In the past year, El Super opened its ers, like the Hispanic grocers, that are bet- may not have been able to serve certain do not get commission from 3M. I do get paid to share first San Diego County store in National ter able to serve the changing demograph- communities as well as the Latino grocers information about security and privacy however. City, filling a spot vacated by Mervyns, ics of the local market,” Buxton said. are able to,” Morse said. So, the question is begged… “If it’s none of my and Vallarta opened its second county Representatives of Shea Properties, the Still to be seen, Morse said, is whether business, then why are you showing me?” store in a former Ralphs. Zapata said those master developer of the $80 million Mer- the stores hold the same sway with second- debuts — along with recent nongrocery If you wish to submit questions or comments to cado del Barrio, and San Diego redevel- and third-generation shoppers, who are “Ask the Expert” please feel free to send them to replacements at a former Circuit City and opment officials have deemed as pivotal more assimilated. another ex-Mervyns site, as well as a new [email protected]. store being developed by Target at Plaza Bonita — are providing the city with much Randy Abrams needed tax revenue while better serving Director of Technical Education the city’s long-established and growing Cyber Threat Analysis Center Hispanic population. Neptune Pointe ESET North America Generating Jobs 3.899 Acres — Alameda, CA Also, according to city data, El Super brought 160 new jobs, and Vallarta now employs 150. Those are among a total of Development Opportunity more than 900 jobs created recently by big-box replacement tenants, which are • Prime lot expected to generate more than $650,000 • Steps to San Francisco Bay Randy Abrams is Director of Technical Education for ESET in annual sales tax revenue. • Great Residential or Commercial Potential [email protected] Representatives of the three grocery • By Online Auction as a single parcel chains did not return calls seeking com- www.eset.com ment. Call (415) 522-3438 or (619) 557-5029 610 West Ash Street, Suite 1900 Mary Gotaas, a grocery store analyst San Diego, CA 92101 • 866.496-ESET with research firmIbisWorld Inc. in Los US General Services Administration Angeles, said the three companies are the ESET paid for this space and is solely responsible for its content. largest of several local and regional grocers propertydisposal.gsa.gov now catering to Hispanic consumers. Each Auction Site: www.RealEstateSales.gov ESET.com has more than 30 stores, and El Super has Thumbnails SDBJ User Guide Front Page Table of Content
1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"- "QSJM Challenging Projects Are Creative Outlet for Astro Energy’s Talents ASTRO ENERGY GROUP CONSERVATION: Firm CEO/CFO: Specializes in Improving +BNFT".BTJBT No. of local Clients’ Energy Efficiency employees: 'JWF ®Ê#Z50.:03, Investors:" QBSUOFSTIJQPG$IVMB When Imperial Valley’s El Centro Re- 7JTUB&MFDUSJDBOE"TUSP gional Medical Center needed to replace .FDIBOJDBM$POUSBDUPST its data center heavily damaged by the Headquarters: +BNFT.BTJBT &M$BKPO April 4, 2010, Mexicali earthquake, newly 1IPUPDPVSUFTZPG"TUSP&OFSHZ(SPVQ established Astro Energy Group, won the Year founded: "TUSP&OFSHZ(SPVQIFMQTCVJMEJOHBOECVTJOFTTPXOFSTBDIJFWFJNQSPWFEFOFSHZFGàDJFODZ bidding against a number of more expe- Company description:&OFSHZTFSWJDFT UISPVHITUSBUFHJFTTVDIBTJOTUBMMJOHOFX)7"$TZTUFNTBOEFMFDUSJDBMTZTUFNT0OFPGJUTNPSF rienced competitors, including Honeywell CVTJOFTTUIBUQSJNBSJMZIFMQTDMJFOUTSFEVDF DSFBUJWFTPMVUJPOTJOWPMWFEIPVTJOHBNFEJDBMDFOUFSTEBUBDFOUFSJOBQPSUBCMFUSBJMFS International Inc. and IBM Corp. FOFSHZVTFJODPNNFSDJBMBOEQVCMJDCVJMEJOHT And the new business, which develops, Contractors Inc. more than a year ago. company faces a number of competitors installs and finances projects designed to Another partner is electrical contracting in the market for retrofits to increase en- improve energy efficiency and maintenance tion the added months, if not years, of consultant Technology Standards Group ergy efficiency, including a division of San costs, designed an unusual replacement time needed for all of the approvals from Inc. Francisco-based oil giant Chevron Corp. for the regional hospital, a 720-square- various regulators. San Diego has become a focal point for The two principal partners developed foot portable trailer that exceeded all of “We could save billions of dollars if the newly emerging green energy sector, much of their expertise when they worked the requirements set by state regulatory we could deploy structures like this,” he and Astro Energy is one of dozens of with the State of California Advanced officials for medical structures. added. “This was the result of the creative, energy businesses that are helping build- Lighting Controls Training Program, John Gaede, director of information innovative thinking of the Astro guys.” ing and business owners achieve improved which came with employee training technology at the 150-doctor medical energy efficiency. standards. center, said, “The best way to describe Close Industry Connections The business is targeting the government “The largest amount spent by the land- the Astro Energy Group is creative and Rick Moreno, who serves as chairman sector, primarily defense and education, as lord is on electrical and mechanical sys- industrious.” of the Astro Group’s board, calls the work well as commercial buildings. tems,” Moreno added, noting that energy He said the company decided to take “a one off job” but demonstrated what the The company specializes in coming up costs are rising 3.5 percent to 4.5 percent a an MRI trailer already approved by state business can do, given its close connections with energy savings, achieved by such strat- year. “It’s not getting any cheaper.” regulators and turn it into a portable data with highly experienced subcontractors in egies as installing new HVAC systems and “We use technology to monitor what’s center, which handles all of the center’s the electrical and heating, ventilation and electrical systems to save on energy bills. going on inside a building, then come up administrative functions, such as patient air conditioning fields. with solutions that reduce power consump- records, human resources and accounting. Moreno said his crew and contractors Ample Experience tion.” “They went out and found an MRI completed the project in just five months, The two primary participants have years He said newer systems can save up to 35 trailer that a hospital wasn’t using and with after breaking ground in November. of experience in the business. percent in utility costs. the help of their engineering team, turned “We fabricated this, and designed it all Chula Vista Electric is an 85-year-old “Energy conservation is sometimes the trailer into … a fully functioning data ourselves,” said Moreno. “We did it on contracting firm, while Astro Mechanical called the ‘fifth fuel,’ ” said Astro Energy center,” said Gaede. budget and under time, while doubling has 51 years in the business. Chief Executive Officer James Masias. Gaede said the project cost approxi- their capacity,” he added. Offspring Astro Energy has helped “It’s money you don’t have to spend on a mately $1.5 million against the $5 million Astro is a partnership that resulted af- the two stay competitive in a very slow precious commodity.” to $6 million cost of building a brick and ter the melding of South County’s Chula economy for new construction. Tom York is a contributing editor for the mortar building to house IT, not to men- Vista Electric Co. and Astro Mechanical That’s good, because Moreno says the San Diego Business Journal. Fishery Catches on to Need to Cultivate Coveted Bluefin Tuna included its full year results from the nami in Japan is there’s less desire among AQUACULTURE: U.S. UMAMI SUSTAINABLE SEAFOOD Mexico unit (the purchase was a phased Japanese for domestic caught fish, and Market Is Next Frontier transaction) it would have had $70 mil- more demand for foreign bluefin, Stein- CEO: 0MJ4UFJOEPSTTPO lion in sales. dorsson said. “That’s pushing demand for For Japanese Delicacy Revenue: NJMMJPO Steindorsson said the key to Umami’s all species in general destined for Japan, GPSUIFTJYNPOUITFOEFE success is extending the farming cycle for but there is no joy on our part from this ®Ê#Z.*,&"--&/ %FD DPNQBSFE the fish before they’re harvested. Instead situation,” he said. XJUINJMMJPOGPSUIF Tuna lovers talk about the wonderful- MJLFQFSJPEPG of the traditional farming cycle of keeping The son of an Icelandic fisherman, the fish for three to six months, Umami Steindorsson lived and worked in Japan for ness of yellowtail and albacore, but in Net loss: Japan, nothing beats bluefin. JOTJYNPOUIT keeps its bluefin swimming and growing about a decade, learning the language and To give an idea of how prized the spe- JOTJY for an average of three and a half years. falling in love with the Japanese culture. cies is there, a few years ago, a 282-pound NPOUIT 0MJ4UFJOEPSTTPO That means the fish are much fatter and, In 2002, he formed the Atlantis Group, bluefin was auctioned off in Tokyo’s No. of local hence, much more desirable to Japanese a bluefin importing business, and later, fish market for 9.6 million yen, or about employees: fish mongers, says Karl Petur Jonsson, Atlantis purchased the Croatian bluefin $105,000. That’s about $370 a pound. Year founded: Umami spokesman. farming business based on the Adriatic Sea “We’re taking in one kilo of bluefin, and town of Kali. In 2009, the company con- But overfishing of the Northern bluefin Stock symbol and exchange:6.".0# in the Atlantic Ocean and Mediterranean 05$#VMMFUJO#PBSE from that the output is five to 12 kilos,” ducted a reverse merger with a dormant Jonsson said. “The fatter fish ensures bet- public company, obtained financing and, Sea as well as in the Pacific has resulted in Company description:0QFSBUPSPGUXP a global decline of the species. BRVBGBSNTJO.FYJDPBOE$SPBUJBQSPEVDJOH ter prices from markets in Japan.” during the next two years, acquired Baja To augment the wild stock, worldwide /PSUIFSOCMVFàOUVOB The bluefin farming differs from salmon Aqua Farms. efforts to farm or harvest bluefin has been farming, where the fish are raised starting Steindorsson said the company’s long- growing, including in Mexico, and now in in the larva stage. Instead, the bluefin are term goal is to become a multi-species San Diego through a company launched fin its like comparing cotton to silk.” caught at 1 or 2 years old, and then kept in aquaculture business producing high-end, last year called Umami Sustainable Sea- Acquisition of Ensenada Aquafarm enclosures for at least three years. sustainable seafood. He’s looked into start- food. Umami gets its farm-raised bluefin from It’s a fairly labor intensive operation. The ing an aquafarm in California, but so far As the name suggests, nearly all of two operations, in Croatia and Ensenada, Mexican unit has 240 workers; in Croatia has seen plenty of roadblocks. Umami’s bluefin is sold to fish wholesalers Mexico. Umami acquired the latter last there are 150 employees. The San Diego Gavin Gibbons, spokesman for the Na- in Japan, but Chief Executive Oli Stein- year, not long after Umami itself went headquarters now has only 11, but Stein- tional Fisheries Institute in McLean, Va., dorsson thinks the American market is ripe public on the OTC Bulletin Board section dorsson says that will change as the business the largest seafood trade association, says for accepting larger amounts of bluefin, as of Nasdaq. expands. Planned jobs here include admin- fish farming is becoming more prevalent the expanding number of sushi restaurants So far, Umami’s fish farming crop is istrative, accounting and finance, processing throughout the world, and generates about can attest. yielding fantastic results. For the nine and sales and distribution. half of the fish consumed globally and will “There is a clear difference in quality,” months ended March 31, the business only rise. “To feed the world, aquaculture, says Steindorsson, a native of Iceland. “In did $56 million in total sales on about Tsunami’s Ripple Effects fish farming, has to produce more sea- comparing most tuna eaten here with blue- 2,800 tons of bluefin. Had the company One of the impacts from the tragic tsu- food,” Gibbons said. Thumbnails SDBJ User Guide Front Page Table of Content
"QSJM 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF
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1. Next-day funding is available to new Chase Paymentech customers for Visa®, MasterCard® and Discover® card transactions only. Next-day funding is subject to merchant credit approval and all funds are subject to fraud monitoring. Qualifying funds are deposited on the next business day, excluding weekends and bank holidays. 2. $100 cash bonus will be deposited into a qualifying Chase Business Checking account within 60 business days after the initial merchant transaction has posted to the business checking account. Bonus contingent upon merchant’s credit approval and the execution of a Merchant Application and Agreement with Chase Paymentech. Cash bonus is considered income and may be reportable on IRS Form 1099-Misc. Existing Chase Paymentech customers are not eligible for this offer. Offer expires June 30, 2011. Merchant services provided by Paymentech, LLC (“Chase Paymentech”), a subsidiary of JPMorgan Chase Bank, N.A. Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender. Instant Storefront is a trademark of Chase Paymentech. © 2011 JPMorgan Chase & Co. Thumbnails SDBJ User Guide Front Page Table of Content
1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"- "QSJM Funding Helps ecoATM Answer The Electronics Recycling Call ECOATM TECHNOLOGY: Firm CEO: 5PN5VMMJF Expects to Have 5,000 Revenue: 8PVMEOPUEJTDMPTF Kiosks Operating by 2013 No. of local employees: Investors: $PJOTUBS*OD $MBSFNPOU$SFFL ®Ê#Z.*,&"--&/ 7FOUVSFT 5FDI$PBTU"OHFMT 5BP7FOUVSF 1BSUOFST Cell phone recycling is about to become more common following an infusion of Headquarters:4PSSFOUP7BMMFZ $14.4 million in venture financing into San Year founded: Diego-based ecoATM. Company description: %FTJHOFSBOENBLFS The local startup is using a chunk of the PGBVUPNBUFETFMGTFSWJDFLJPTLTUIBUBDDFQU funding package that closed earlier this VOXBOUFEDPOTVNFSFMFDUSPOJDEFWJDFTJO year to redesign and expand its relatively FYDIBOHFGPSDBTIPSSFCBUFT small network of kiosks that accept used and unwanted cell phones in exchange for 'JMFQIPUPCZ4UFQIFO8IBMFO cash, store credit or the ability to make a “We got precisely what we wanted,” he .BSL#PXMFT MFGU BOE5PN5VMMJFQMBOUPJODSFBTFUIFOVNCFSPGFDP"5.DFMMQIPOFSFDZDMJOH charitable contribution. said. LJPTLTUPUIJTZFBSBOE CZUIFFOEPG “We now have 17 kiosks in the field, but As part of the transaction early investor by the end of this year, we should be at debt of about $3 million, which included February at a trade show and is being Small Business Innovation Research 100 kiosks,” said Mark Bowles, ecoATM’s funding from the Tech Coast Angels and manufactured in San Diego by D&K program. Tullie said companies such as founder and chief marketing officer. Tao Venture Partners, was converted into Engineering Inc. The interface design for ecoATM should continue to receive SBIR By the end of next year, the company preferred stock. the new machine was done by DD Studio grants despite the fact that they have re- should have about 1,000 kiosks, and by In addition to the VC money and the of Carlsbad. ceived venture capital investment. 2013, it expects to have some 5,000 in use loan, ecoATM also won a $150,000 grant The fact that the machines are designed The company is also taking steps to en- nationally, Bowles said. from the National Science Foundation. The and made here is generating dozens of new sure its technology isn’t stolen or copied. Most of ecoATM’s machines, nine, are firm has applied for a second government jobs locally, while supporting some 37 con- It received its first patent from the U.S. located in San Diego at Westfield Group’s grant of about $1 million, Bowles said. tracted jobs connected to the manufacture Patent and Trademark office for the over- shopping centers. There are four operating The need to take unwanted cell phones of the machines, Bowles said. all concept and system, and has made six in Orange County, Los Angeles areas. and other electronic devices out of land- The firm, now at 75 direct employees, is other patent applications, Bowles said. Launched in 2008, the business obtained fills is certainly building. According to the looking to hire at least four to five software EcoATM accepted about 50,000 elec- early angel financing including some from Consumer Electronics Association, U.S. and quality assurance engineers immediate- tronic devices last year, with the average the Tech Coast Angels. The first round consumers buy about 500 million new gad- ly, and will expand its kiosk staffing group price paid to a customer about $25, Bowles financing came in equal investments from gets annually, and the average household as it grows the network, Bowles said. said. He declined to provide revenue fig- early investor Coinstar Inc., the Bellevue, now owns 26 electronic devices, bringing The beauty of ecoATM’s business mod- ures but said the business was on track to Wash. company that operates Redbox the aggregate total to nearly 3 billion, el is the immediate cash or cash equivalent breakeven and begin making an operating video kiosks, and Claremont Creek Ven- many of which aren’t working. rebates customers get when they deposit profit in 2012. tures of Oakland. Silicon Valley Bank also EcoATM obtains the used devices, now their unwanted phones into the machines, Randy Hawks, a managing director at provided a market rate loan of several mainly cell phones and MP3 music players, company executives say. Claremont Creek Ventures, said his firm million dollars as part of the financing and sells them to companies that refurbish “We’ve been successfully testing our was drawn to ecoATM not only because arrangement, Bowles said. the devices in domestic and foreign mar- systems over the last year and a half and of its environmentally aware premise, but The business, the first startup to kets. For devices that are beyond redemp- are providing what consumers want: ease for its business model. “graduate” from the EvoNexus incubator tion, the company extracts parts that can of use, best value and immediate payment “EcoATM provides tons of value to the program in San Diego last year, had been be sold to other vendors. for their used electronics,” said Tom Tullie, consumer by giving them cash for their digi- seeking venture investment for a long Some of the recent funding ecoATM ecoATM’s chief executive. tal clunkers and simultaneously managing time, but it held out for the right deal that obtained is being used to produce better Tullie testified in Washington, D.C., to the recycling in a very Earth friendly way,” preserved most of the company’s equity and more durable automated machines. a Senate subcommittee regarding the limit Hawks said. “They also have a smart busi- for the founders, Bowles said. The latest station was rolled out in late on grants through the federal government’s ness model. That’s why we invested.” With Future of Enterprise Zones in Doubt, Firm May Pack Up, Go JENSEN MEAT INC. the situation remains unchanged because claimed by local officials. WORK FORCE: Jensen of Gov. Jerry Brown’s proposed budget. “Because they are expensive and not CEO: Meat Weighs Out-of-State 3PCFSU+FOTFO “All of our plans are on hold,” he said. shown to be effective, we recommend that Revenue:8PVMEOPUEJTDMPTF “We’ve come to a screeching halt.” the area programs be eliminated,” the Options, Delays Expansion No. of local employees: He also confirmed that the company report’s authors said. Investors: 'BNJMZPXOFE is now weighing offers from out of state, They said eliminating the zones would ®Ê#Z50.:03, “where conditions are more business generate $581 million in revenue for the Headquarters: Sacramento’s battle with cities and 7JTUB friendly.” state next fiscal year. counties about the future of so-called Year founded: enterprise zones — special districts that Company description:8IPMFTBMFNFBU A Threat to Region Creating Jobs benefit business with tax credits and re- QSPDFTTPSBOEEJTUSJCVUPSUPTDIPPMTBOEPUIFS Such threats have South County eco- But Sanders disputes those findings, and lated breaks — has hit home. MBSHFJOTUJUVUJPOT nomic development officials worried, espe- points to the value of the agencies. Vista-based beef wholesaler Jensen cially in terms of bringing new businesses He says the enterprise zone has gener- Meat Inc. was weighing relocating to the Moving to a new 125,000-square-foot and jobs to the area. ated more than 13,200 jobs at 750 com- San Diego Regional Enterprise Zone, plant would benefit the company with an “We need to continue the enterprise panies in the past three years, noting that which includes Otay Mesa, most of Na- array of tax credits and related savings, zone, and we need to continue redevelop- Nassco/General Dynamics Corp. has hired tional City and western Chula Vista. and bring 170 new jobs to South County, ment, quite honestly,” said Cindy Gomp- 2,900 shipyard workers and Goodrich But Chief Executive OfficerRobert Jen- Jensen said. per-Graves, CEO of the nonprofit South Corp. has hired more than 1,000 through sen has informed Mayor Jerry Sanders that County Economic Development Council, the program. he has put the expansion on hold. He said Trying to Stay Competitive a business development arm. “These are Sanders also says that it’s not just for he’s looking at other options, including “The second option is to leave the state tools in my tool box that allow me to large enterprises, small businesses have sites out of California, now that the future of California in order to stay competitive. incentivize companies to locate in South taken advantage of the program, too. of enterprise zones is in doubt. Jensen Meat’s biggest competitor is already County.” For example, he says Craft Labor & “If the Enterprise Zone is to be termi- gearing up to move out of California Until recently, Brown proposed elimi- Support Services LLC has added 98 local nated, there are only two alternatives,” to the state of Texas,” added Jensen. “I nating the state’s 45 enterprise zones as jobs since opening in National City’s por- Jensen wrote the mayor. “The first option want to keep my family-owned business well as redevelopment agencies to help tion of the enterprise zone in 2008. The is not to expand and be out of business in California but only if it makes business close a $12.5 billion gap in the state’s company employs 200 in California and since we cannot meet the demands of our sense to do so.” spending plan for fiscal 2012. Washington state. growing national customers, (which) is not Sam Acunia, director of finance for Jen- A Legislative Analyst’s Office report Tom York is a contributing editor for the a viable option.” sen, said the company is still in limbo, and said the zones don’t generate jobs, as San Diego Business Journal. Thumbnails SDBJ User Guide Front Page Table of Content
"QSJM 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF
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! !! !! % % " " #&$ & " !!# & ! ! % 9*5.<32:.5*0*66)3161'00(86.2*66 Activation fee/line: $35 IMPORTANT CONSUMER INFORMATION: Subject to Cust Agmt, Data Plan & credit approval. Up to $175 early termination fee ($350 for advanced devices). Offers & coverage, varying by svc, not available everywhere; see vzw.com. While supplies last. Restocking fee may apply. LTE is a trademark of ETSI. In CA: Sales tax based on full retail price of device. In AZ: $35 restocking fee applies to device returns/exchanges. © 2011 Verizon Wireless. D5029 Thumbnails SDBJ User Guide Front Page Table of Content
1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"- "QSJM Local Office Market Receives a Vote of Confidence ture to handle rising caseloads. Turner said buildings in the project’s second phase are real estate strategies, but it’s just too soon to REAL ESTATE: State, the federal government has already booked set to be completed in 2012, with the final know how that’s going to play out,” Simril Federal Cuts Won’t up about 90 percent of the space to be two buildings to be finished in 2014. said. “Private companies have already taken used by court-related agencies in the U.S. Mike McNerney, a senior vice president actions to streamline their office space re- Derail Its Recovery courthouse, set to open in 2013. in Lowe’s San Diego office, said the county quirements, but government is always a lag- will be housing a total of about 4,000 in ging indicator in terms of the economy.” ®Ê#Z-06)*34) Drawing More Tenants the complex when it’s completed, with Andy La Dow, a principal with brokerage As federal and state lawmakers dispute That suggests there may still be a need most being relocated from other county- firm Cassidy Turley about how to cut budgets, local landlords for other government agencies and related owned sites. BRE Commercial in and brokers say they’re not immediately con- firms to find space in commercial buildings McNerney, whose firm develops govern- San Diego, noted that cerned that government downsizing moves if they wish to be near the courthouse, ment projects throughout the nation, said there is currently about will adversely impact demand for commer- Turner said. he doesn’t expect the county project to 600,000 square feet cial office space in San Diego County. He said Irvine Co. doesn’t have a sig- create a flood of open commercial office of downtown office “It’s something we’re keeping an eye on, nificant quantity of downtown leases set space in vacated locations. For instance, space, in which various but we’re not losing sleep over it,” said John to end in the next two to three years, the the county could decide to hold on to government agencies Turner, a San Diego regional vice president likely period when government budget cuts those buildings that it owns and put them will be making deci- "OEZ-B%PX with The Irvine Co., would begin taking effect. Even after state to use for other government operations, or sions in the next two to among the largest lo- and federal lawmakers agree on specific sell off some properties in a process that three years about whether to stay or go. cal office property operating costs, it could take several more could play out over several years. owners, with 60 build- years to see the full impact on commercial Renata Simril, southwest region man- Expanding Operations ings encompassing 7.4 office real estate. aging director in the Steve Rosetta, executive managing million square feet. By that point, the local office market will public institutions director in the San Diego office of broker- Turner said the bulk likely have improved significantly along with practice of brokerage age firmCushman & of Irvine’s downtown the rest of the economy, Turner said. firm Jones Lang La- Wakefield, said many tenants are firms and +PIO5VSOFS Currently, the largest local government Salle, noted that fed- government depart- agencies that deal with construction project is a six-building, 38- eral agencies such as ments such as courts the state and federal courts, as well as the acre County Operations Center, being de- the FBI are actually and social service Internal Revenue Service. Generally, agen- veloped in San Diego’s Kearny Mesa area expanding in San Di- agencies are actually cies related to security and law enforcement by Los Angeles-based Lowe Enterprises ego. In the long run, 3FOBUB4JNSJM looking to expand are not considered in danger of losing major Real Estate Group. other departments operations but wait- funding at the federal level. Approximately 1,100 employees from tied to homeland security will also likely ing for past funding 4UFWF3PTFUUB State and federal courthouse projects nine San Diego County departments have be expanding, which could counteract the requests to be ap- are under way in the downtown area, as relocated to the first two buildings since effect of budget cuts made elsewhere. proved. The fate of those requests could court systems continue to boost infrastruc- they were completed in fall 2010. Two “There will need to be some rethinking of also sway the local office market. Road Operators Seek Buyer To Rescue It From Bankruptcy SOUTH BAY TRANSPORTATION: EXPRESSWAY L.P. Court Hearing Set This CEO: (SFH)VMTJ[FS Week for Expressway Financial information:'PS ®Ê#Z&..&51*&3$& UIFàTDBMZFBSFOEJOH Operators of the financially troubled +VOF UIF 4PVUI#BZ&YQSFTTXBZ South Bay Expressway L.P. are optimistic -1IBESFWFOVFTPG that the U.S. Bankruptcy Court in San BQQSPYJNBUFMZ Diego soon will approve their plan for NJMMJPOBOEBEKVTUFE emerging from Chapter 11 bankruptcy FBSOJOHTCFGPSFJOUFSFTU (SFH)VMTJ[FS UBYFT EFQSFDJBUJPOBOE protection. BNPSUJ[BUJPO PGBQQSPYJNBUFMZNJMMJPO"TPG A hearing on the matter has been set .BSDI UIFCBOLSVQUDZQFUJUJPOEBUF UIF for April 14. About a year after filing for DPNQBOZIBEBQQSPYJNBUFMZNJMMJPOJOCPPL 1IPUPDPVSUFTZPG4PVUI#BZ&YQSFTTXBZ-1 Chapter 11, the operators of the 9.3-mile WBMVFPGUPUBMBTTFUTBOEBQQSPYJNBUFMZ 0QFSBUPSTPGUIFàOBODJBMMZUSPVCMFE4PVUI#BZ&YQSFTTXBZBSFJOEJTDVTTJPOTXJUIQPUFOUJBM toll road are talking with potential buyers. NJMMJPOJOCPPLWBMVFPGUPUBMMJBCJMJUJFT"TPG%FD UIFWBMVFPGUIFBTTFUXBTEFDMBSFEUP CVZFSTJODMVEJOHQSJWBUFTFDUPSCVTJOFTTFTBOE4BOEBH*OEFCUFEOFTTBOEBEFMBZFEPQFOJOH Among them is the San Diego Associa- CFNJMMJPO DPOUSJCVUFEUPBCBOLSVQUDZàMJOHBCPVUBZFBSBHP BDDPSEJOHUPJUT$&0(SFH)VMTJ[FS tion of Governments, or Sandag, which No. of local employees: administers a local TransNet half-cent sales tax fund to be spent on transporta- Investors: .BDRVBSJF"UMBT3PBETBOE road diverts about 26,000 vehicles from the “It was like a perfect storm,” Hulsizer tion projects, said South Bay Expressway .BDRVBSJF*OGSBTUSVDUVSF1BSUOFST Interstate 805 freeway and South County said. “We had significant claims from our CEO Greg Hulsizer. Headquarters: 0UBZ.FTB arterial streets, Hulsizer said. “We are like contractors and we spent considerable “There are private sector businesses that Year founded: 5IFDVSSFOUPXOFSTàOBODFE any other business or service. We have to money, $40 million, in fighting claims.” are interested in purchasing the franchise UIFQSPKFDUJO deliver value to our customers to get them also,” he said. “We are providing them Company description:0XOFSBOEPQFSBUPS to part with their hard-earned cash.” Troubled Times Affect Revenues information so they can do their due PGBNJMFUPMMSPBE EFWFMPQFEBOEPQFSBUFE The bankruptcy proceedings have not The worsening economy, high unem- diligence.” VOEFSBQVCMJDQSJWBUFQBSUOFSTIJQXJUIUIF disrupted traffic on the freeway, Hulsizer ployment and the slowing of cross-bor- Marney Cox, chief economist for San- TUBUFPG$BMJGPSOJB*UIPMETBZFBSMFBTFXJUI stressed. der traffic combined to reduce toll-road $BMUSBOTUPPXOBOEPQFSBUFUIFUPMMGBDJMJUZVOUJMJU dag, confirmed that the council’s govern- SFUVSOTUPTUBUFPXOFSTIJQ Cindy Gompper-Graves, chief executive revenues. Hulsizer said he still believes in ing board is exploring the purchase of the officer of the South County Economic public-private partnerships for building expressway. He said the panel considers the Development Council, said the toll road is public infrastructure. expressway to be “an important strategic “Public-private partnerships are oppor- essential for the future development in the “In this case the investors will not make asset to the region,” but he declined to dis- tunities to bring in private capital to take South Bay area. The inland area it serves “is a profit,” he said. “They lost their invest- cuss details of the proposed transaction. on the risk and obligation to develop, build where the growth has occurred and where it ment. By filing Chapter 11, they basically The public-private partnership used to and operate a road,” he said. will continue to occur,” she added. walked away from their investment and create the expressway has been described According to Hulsizer, a series of un- the debt is being restructured. There are as an innovative way to pay for highways. Otay Mesa to Spring Valley Route foreseen problems pushed the highway probably lessons here to be learned going “Public-private partnerships are more The expressway is the southern portion into bankruptcy. The road was 13 months forward.” prevalent in Europe, South America, of state Route 125. It extends from Otay behind schedule and deeply indebted when One of the things that slowed the project Australia and other parts of the world,” Mesa to Spring Valley, passing through it opened in the fall of 2007, he said. At down was the difficult process of winning Hulsizer said. They are becoming more Eastlake and Otay Ranch in Chula Vista. their peak, contractor claims against the environmental approvals, he noted. The common in the U.S. as cash-strapped After a free introductory period for driv- toll road exceeded $700 million. Over process took 12 years, he said. governments search for funds to expand ers, the collecting of tolls started at the time, the company’s legal costs continued Emmet Pierce is a freelance writer for the aging highway systems, he added. beginning of 2008. Each workday the toll to mount. San Diego Business Journal. Thumbnails SDBJ User Guide Front Page Table of Content
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GOOD HEALTH IS A GREAT BUSINESS MODEL. Good health and a safe work environment are always good for business. Which is why we encourage the employers who choose us to implement programs that increase physical activity and decrease daily stress in the workplace. Because keeping employees healthy and happy is not only good for your bottom line, it’s good for theirs. Learn more at kp.org/totalhealthandproductivity. Thumbnails SDBJ User Guide Front Page Table of Content
"QSJM 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF After Shedding 10 Properties, A Look at the Sunstone Back in Buying Mode Numbers Shows
After forfeiting 10 better opportunities. Reay and other the Changes in hotels in the past two experts have said there could be many years, including four more similar deals, involving high-profile in San Diego, Sun- hotels, on the way locally and nationally. the North County stone Hotel Investors Already this year, Host Hotels & As we approach of Aliso Viejo is Resorts Inc. acquired the Manchester the end of the first doing some high-end Grand Hyatt for $570 million; and The quarter of 2011, the shopping in 2011. Blackstone Group of New York took a government has re- REAL ESTATE The company majority stake in the Hotel del Coronado leased the 2010 year- Lou Hirsh announced in Janu- as part of a $425 million refinancing. end data. The two ary that it planned • • • key items for North to acquire $1 billion in hotel properties Housing, Commercial Markets Stay County are the around the country, aiming to add big Separate: The longer that San Diego’s Business in the population growth upscale properties to its portfolio. Its commercial real estate market continues 1IPUPDPVSUFTZPG)JMUPO4BO%JFHP#BZGSPOU)PUFM North County and sales tax revenue its steady rebound, the more it will be "GUFSGPSGFJUJOHGPVSTNBMMFS4BO%JFHPIPUFMT biggest buy of the year — as of the end Ted Owen increases, both are of the first quarter — is its planned $475 able to avoid the fate of the still-reeling MBTUZFBS 4VOTUPOF)PUFM*OWFTUPSTJTBDRVJSJOH up substantially. Southern California housing market. BNBKPSJUZTUBLFJOUIF)JMUPO4BO%JFHP#BZGSPOU million purchase of a 75 percent stake GPSNJMMJPO In the area of growth, North County in the 1,190-room Hilton San Diego “The financial pressures of the hous- saw a 13.7 percent increase in residents ing market have Bayfront. nationwide market access, Voit said the since 2000, or more than 148,000 ad- not spilled into the Sunstone President Ken Cruse said firm has opened offices in four other ditional people. The San Diego Asso- commercial sector,” March 29 that the company plans to Western states, and established formal ciation of Governments numbers show said Christopher fund that acquisition in part from pro- referral relationships with brokers in San Marcos leading the way with 31.5 Thornberg, founding ceeds from an upcoming $130 million regions including the Northwest, where percent, north San Diego at 28.2 percent principal of Los An- sale of its Royal Palm Miami Beach hotel it doesn’t have an office presence. and Carlsbad at 23.8 percent, making in Florida. geles-based Beacon • • • up the top three. Overall, the nine cities Alan Reay, president of Irvine-based Economics, during a Burger Chain Expands in San Diego: of North County grew by 77,000 with consulting and March 31 real estate $ISJTUPQIFS the rest of the growth taking place in the 5IPSOCFSH Yet another chain burgermeister is brokerage firm Atlas forecast forum in La beefing up its San Diego County pres- unincorporated areas. To give you the Hospitality Group, Jolla. ence. The Counter Custom Built Burg- big picture that means North County is says Sunstone is not “In addition, banks have developed ers, a full-service gourmet hamburger now setting at 1,228,482 compared with being punished by the more sophisticated ways of dealing with restaurant with headquarters in Culver a 2000 population of 1,080,413. market after essen- surplus properties to circumvent fore- City, recently opened at the Del Mar The growth in San Marcos led the tially walking away closures,” Thornberg said at the forum, Highlands Town Center in San Diego’s way in North County, growing from from hotel loans presented by Voit Real Estate Services Carmel Valley neighborhood. 68,420 residents to 90,000. North San under which it owed "MBO3FBZ Inc. “The reality is that there has been an The 2,350-square-foot location is the Diego County moved from 83,109 to more in payments increase in acquisitions of Class A prop- second restaurant for San Diego County 106,542, and Carlsbad went from 92,664 than the properties were worth, including erties, and this is likely to continue.” franchisees Tom and Charlet Yoo, who to 114,712 residents. I guess this shows five hotels in Southern California. Thornberg also anticipates a rise in previously opened The Counter at The that while the number of people mov- Instead, he said Sunstone is shrewdly business spending in 2011, as the San Forum in Carlsbad. Tom Yoo said the ing to California has diminished greatly, playing the improving fundamentals of Diego County economy continues to couple is scouting locations for poten- local cities and communities have seen the U.S. hospitality market, in which benefit from rising global demand for tially five more that would open around considerable shifts in population growth large luxury properties have so far been technology and other exports. He re- the county in the next few years. since the last census. among the biggest beneficiaries of a mains cautious, however, about poten- • • • Escondido, where I have lived for recovering economy, after being hit tially excessive Federal Reserve easing Local Firm Buys Morro Bay Hotel: more than 25 years, grew from 146,288 hardest during the Great Recession. of interest rates, which could spur new San Diego-based Pacifica Host Hotels is to 163,021 with 49 percent of that Of the four it forfeited in San Diego market investment bubbles. the new owner of the Inn at Morro Bay, growth being Latino. The growth will last year, only one, the 258-room down- Newport Beach-based Voit, started in located on California’s Central Coast. continue, and the mix will continue to town W Hotel, could be considered 1971, has 29 brokers The 98-room property was previously change. The key is that the growth brings upscale, and all would be classified as and a property man- owned by San Luis Obispo County with it traffic, housing needs, more use small to midsized. ager at its San Diego hotelier and developer John King. It was of infrastructure and resources — such “Since their deal fell through last year office. Founder and placed into receivership last year. as water and sewer — and bigger de- to buy the Manchester Grand Hyatt, Chief Executive Michael de Jesus, Pacifica Host’s vice mands on local government resources. people knew that they were going for Officer Robert Voit president of sales and marketing, said trophy hotels,” Reay said, noting why he said the competitive the acquisition price was approximately Revealing Revenue was not surprised by Sunstone’s bid for commercial bro- $9 million, and the deal closed on March A major indicator of how the econo- the Hilton. kerage climate has 3PCFSU7PJU 30. my is doing is retail sales. When the pop- He noted that the financing climate prompted the firm in Send commercial real estate and ulation grows, spending usually goes up, also has improved, with lenders appar- recent years to move beyond a localized development news of general local interest too. With the sad state of the state bud- ently having no problem with Sunstone “silo” approach to service. to Lou Hirsh via e-mail at lhirsh@sdbj. get, more and more of traditional state ditching bad bets of the past to pursue As local buyers and sellers seek com. He can be reached at 858-277-8904. ¨North County page 15
SAN DIEGO HOUSING COMMISSION Motivate. Celebrate. Notice of Public Hearing for FY2012 Emergency Shelter Grant (ESG) Entitlement Funds Proposed Allocations Congratulate. With U.S. Department of Housing and Urban Development (HUD) approval, the San Diego Housing Commission (SDHC) will accept the HUD Emergency Shelter Grant (ESG) Entitlement Funds for FY2012. The amount of ESG funds San Diego Macy’s Gift Cards are the perfect present will receive for FY2012 is not known at this time; the amount received for FY2011 was $660,147. SDHC will use ESG to for clients, customers and employees! fund the City’s Homeless Emergency Winter Shelter program (HEWSP) and Cortez Hill Family Center (CHFC) on behalf With each card comes choice, convenience of the City of San Diego. As such, the City is committed to providing ESG funds to SDHC for operation of the program. and the magic of “The World’s Most Famous NOTICE IS HEREBY GIVEN that a public hearing is scheduled for Friday, April 15, 2011, at 9:00 a.m., in Room 426 of Store”. Plus, Macy’s Gift Cards never expire the SDHC offices, 1122 Broadway, San Diego, CA, 92101. The purpose of this public hearing is for SDHC to: 1) When approved by HUD, accept and incorporate the FY2012 ESG funds into the SDHC FY12 Budget; or incur service fees – making them a very 2) Allocate these funds to various components of the FY12 HEWSP and CHFC; and smart business decision! 3) Recommend Housing Authority and City Council approval for these actions. Location, location, location! Redeemable This public hearing will be included within a Housing Commission meeting. at over 800 stores across the country and Public comments will be accepted during this hearing. In addition, written comments will be accepted through April 15, macys.com, Macy’s Gift Cards make shopping 2011 via mail to: Lynda Brophy, San Diego Housing Commission, 1122 Broadway, Suite 300, San Diego, CA 92101. easier than ever! Assistance for the Disabled: Agendas, reports and records are available in alternative formats upon request. Please call the Housing Commission Docket Coordinator at least five days prior to the meeting at (619)578-7564 (voice) or Call us today at 619-299-9811 x4443 and (619)398-2440 (TTV). be sure to ask about our volume discounts, or Questions Regarding Agenda Items: For specific questions regarding any item on the Housing Commission agenda, visit us online at macys.com/corporategifts please contact Lisette Diaz at (619) 578-7564. Internet access to agendas and reports is available at http://www.sdhc. org/Media-Center/SDHC-Meetings/Housing-Commission-Meetings/. Thumbnails SDBJ User Guide Front Page Table of Content
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Breaking news NEWS IN BRIEF from www.sdbj.com Executives’ Families Retire Food Bank’s Mortgage Former President Bill Clinton joined Qualcomm Inc. founder Irwin Jacobs and businessman Steve Cushman and their wives April 3 at the San Diego Food Bank to announce the two families are paying off the $1.76 million mortgage on the food bank’s warehouse in Miramar. The facility was renamed the Jacobs & Cushman San Diego Food Bank to rec- ognize the gift. Clinton was in town to open the fourth annual Clinton Global Initiative Univer- sity Meeting at UC San Diego. The initia- tive convenes global leaders to create and implement innovative solutions to some of the world’s most pressing challenges. CGI’s student university challenges col- lege students to come up with practical solutions and commitments to ongoing 1IPUPTDPVSUFTZPGUIF+BDPCT global problems. $VTINBO4BO%JFHP'PPE#BOL Clinton’s address at the local food bank 'PSNFS1SFTJEFOU#JMM$MJOUPONBLFTSFNBSLT "QSJM BU UIF GPPE CBOL XBSFIPVTF JO UIF 4UFQIFO $VTINBO MFGU .BSKPSJF $VTINBO &VHFOF A.JUDI .JUDIFMM +PBO +BDPCT BOE *SXJO was part of the CGI’s three-day forum and .JSBNBSBSFB +BDPCTTUBOECFGPSFBCBDLESPQPGCPYFE DBOOFEWFHFUBCMFTBUUIFSFOBNFE+BDPCT$VTINBO preceded a day of volunteer service by the 4BO%JFHP'PPE#BOLEVSJOHGFTUJWJUJFT"QSJM.JUDIFMMJTSFUJSJOHGSPNIJTQPTUBTGPPECBOL visiting students and other community individuals, families and a network of DIBJSNBO members at the food bank. nonprofit groups, the organization said. The donation from the Jacobs and .JLF"MMFO in California, with about 12,000 of those closed the next day at $13.13. Cushman families will retire the debt on Chase Reveals Plans for 10 in its branch network. The bank said it #SBE(SBWFT the mortgage for the food bank’s facility has more than 14.5 million consumer and Digital TV Software Firm at 9850 Distribution Ave., saving monthly More Local Bank Branches small business customers in California. mortgage payments of more than $18,000. New York-based JPMorgan Chase Bank, .JLF"MMFO Acquires Its German Partner That will allow the food bank to pay for a subsidiary of JPMorgan Chase & Co., Optimer Shares Go Higher Verimatrix Inc., a San Diego firm that about 56,000 additional meals to the said April 4 it plans to open about 100 new makes security software for the pay televi- community each month, said a food bank branches and add more than 1,500 jobs On Favorable FDA Report sion industry, said March 31 it acquired spokesman. nationally to better serve its customers. A Food and Drug Administration Comvenient GmbH, a German firm that The food bank has been through some The plans call for 10 new branches in report issued in early April said that a previously was its partner. Terms of the difficult times starting in 2005 when it was San Diego, which would add 100 to 125 drug from Optimer Pharmaceuticals Inc. transaction were not disclosed. embroiled in scandal involving recipients jobs locally. is effective in treating a tenacious form of Comvenient makes digital video broad- taking the food and selling it at swap The nation’s second largest bank with bacteria called Clostridium difficile. casting conditional access software. meets. That led to its parent organiza- about $2.1 trillion in assets said the ad- Though the news did not amount to Following the transaction, Verimatrix tion, Neighborhood House Association ditional branches in San Diego will be FDA approval, it caused shares in San will have about 100 employees, including of San Diego, halting funding, and the all over the market. Following the ad- Diego-based Optimer to rise by nearly 11 22 from Comvenient. resignation of most of the bank’s board ditions, Chase will have 103 branches in percent that day. Founded in 1999, Verimatrix received members in 2006. In 2007, some of those the county, and more than 900 branches The FDA report said the Optimer drug, more than $40 million in venture capital directors formed another local food bank and 3,000 automated teller machines in called fidaxomicin, works just as well on financing including investment from San affiliated with America’s Second Harvest, the state. the bacteria as the gold-standard drug, Diego-based Mission Ventures. which operates a warehouse in the Sor- Chase acquired most of those branches a product called Vancocin produced by .JLF"MMFO rento Mesa area. in a distress sale arranged by federal regula- Pennsylvania-based ViroPharma Inc. Several years ago, under the leader- tors following the $300 billion-plus failure Clostridium difficile is often acquired ship of Eugene “Mitch” Mitchell, a top of Washington Mutual Bank in 2008, the in hospitals and health care settings. It FREE DAILY UPDATE executive at Sempra Energy, the food largest bank failure in the nation’s history. causes diarrhea and is very difficult to bank separated from Neighborhood Chase currently has the second-highest treat. Keep up with the latest local business news number of branches in San Diego County, prepared by the reporters and editors of the House, and assumed the mortgage pay- The FDA issued its report April 1 in San Diego Business Journal and sent to you ments on its main asset, the Miramar behind Wells Fargo Bank. advance of a daylong hearing by an FDA by e-mail every business day. warehouse. Chase said by 2015, it plans to add 525 panel that had been scheduled for April 5. Sign up now at sdbj.com The food bank distributed more than to 700 new branches in this state. Chase Optimer shares, traded on Nasdaq as 18 million pounds of food last year to said it has more than 18,500 employees OPTR, closed at $11.83 on March 31, then
or beaten for some time. dealer to replace his 10-year-old Chevro- million project has been on the draw- North County: let Trailblazer that had deteriorated with ing boards since 2002. The money has ¨from page 13 In Other North County News: a used Mercedes. been available to build the park, but the Temecula is under serious consider- Dealer President Angelo Damante and operation of it never penciled out to be supported services are being left to local ation for a new Mercedes-Benz dealer- his Sales Manager Bob Latiano were profitable. governments to provide. Consequently, ship by the folks at Orange County approached by Bob Crabtree, a sales However, with the YMCA now offer- cities have to rely on sales tax revenue to Fletcher Jones Motorcars. It appears that associate, with the idea that when the ing to manage the facility at no cost to provide needed services. When you look luxury car sellers are making a recovery. Marine came to pick up his vehicle, they the city things are looking up. The 32- at sales tax revenue year over year from BMW has announced that it will build would surprise him with a completely acre park would include an instructional 2009 to 2010, North County fared well. a dealership in Murrieta to be run by restored truck to go along with his newly pool, a competition pool, a skateboard- The biggest gain was Carlsbad climbing NASCAR driver Boris Said of Carlsbad purchased used Mercedes. When CWO2 ing facility, basketball courts, a dog play 9.5 percent from $22.74 million in 2009 and Hendrick Automotive Group. BMW Chris Kuykendall stopped in his “old” area and several ball fields. Originally to $24.9 million at the end of last year. has already opened a new dealership in used truck looked like a “nearly new a water park and ride were part of the That made Carlsbad the highest collec- Vista along the Highway 78 corridor. Trailblazer” and all at no charge. That’s project, but while the planning was be- tor of sales tax revenue in North County. Escondido is building a new CarMax what I call performing above and beyond ing done, Legoland in Carlsbad built a The city is also the second highest collec- dealership that will open later this year. the call of duty by Damante and his multimillion-dollar water ride. Carlsbad tor of transient occupancy tax, or TOT, Speaking of car dealers, the Mercedes- team. We salute them. has always provided residents with the revenue, behind San Diego, with more Benz of Escondido team stepped up to Leaders of the Encinitas YMCA best amenities possible to continue one than $14 million in hotel taxes. help a Marine combat veteran with a are close to a deal with the City of of the highest quality of life measures in So data show that growth is occurring, surprise car deal. Jeff Frank, a colum- Carlsbad to run the city’s proposed the region. but slowly. Everyone wants to compare nist for the North County Times, had a new Alga Norte Park, which includes a Ted Owen is president and chief execu- the last couple of years with 2006 and poignant story about a Marine return- swim center and skate park just off of tive officer of the Carlsbad Chamber of 2007, but those years won’t be duplicated ing from Afghanistan who went to the El Camino Real on Poinsettia. The $36 Commerce. Thumbnails SDBJ User Guide Front Page Table of Content
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UI"OOVBM $'0PG5IF:FBS"XBSET
Presenting Sponsors $POHSBUVMBUJPOT5P5IF'JOBMJTUT Michael Piraino Accelrys, Inc. Douglas Paulin, CPA Allied America, Inc.; Patti Roscoe and Associates, Inc.; & & PRA Destination Management, Inc. Robert Barton American Assets Trust Steve Martin BakBone Software, Inc. Andrew Micheletti Bank of Internet USA 5IVSTEBZ "QSJM Patty Mooney Crystal Pyramid Productions Jess Roper Dexcom, Inc. QN David Lyle Entropic Communications, Inc. Kurt Gustafson Halozyme Therapeutics %PVCMFUSFF)PUFM4BO%JFHP .JTTJPO7BMMFZ Jill Barrett Harrah’s Rincon Casino & Resort Christian Henry Illumina, Inc. )B[BSE$FOUFS%SJWF 4BO%JFHP $" Heather Rosing Klinedinst PC 4QFDJBM"XBSET3FDFQUJPOXJUI)PTUFE)PST%{0FVWSFT John Sommatino Laptops Plus John Sharp Ligand Pharmaceuticals, Inc. This event recognizes the most outstanding CFOs Kai Loedel MC Consultants, Inc. who work in San Diego as nominated by Michael Hawkey Mental Health Systems their employers, employees or clients. Greg Jasenovec Miro Technologies, Inc. Caroline Barberio Mission Ventures Sheila Buska Monarch School Kevin McCarty Mr. Copy Inc. 4QFDJBM"XBSET Tim Coughlin Neurocrine Biosciences, Inc. Phil Lenowsky North County Health Services John Prunty Optimer Pharmaceuticals, Inc. -*'&5*.&"$)*&7&.&/5 &9&.1-"3: "8"3%3&$*1*&/5 1&3'03."/$& Matthew Parker Pacifi c Building Group "8"3%3&$*1*&/5 Dawne Morris Pixeled Business Systems, Inc. 8JMMJBN4DBSàB Leonard Dodson Planned Parenthood of the Pacifi c Southwest CFO, SAN DIEGO REGIONAL +POBUIBO'SFFNBO John Radak Quidel Corporation CHAMBER OF COMMERCE COO/CFO, CASSIDY TURLEY Brad Blose Seacrest Village Retirement Communities Tony Rogers Senomyx, Inc. Greg Wimmer Skinit, Inc. Steve Loomis SkinMedica, Inc. Tran Nguyen Somaxon Pharmaceuticals, Inc. Joseph Wilkinson Taiyo Yuden (U.S.A.) Inc. Mayer Barbara Wight Taylor-Listug, Inc. DBA Taylor Guitars (PME4QPOTPS Hoffman Jim Krupiarz Telcentris, Inc. McCann P.C. An Independent CPA Firm Joe Michalowski Training, Education & Research Institute John Schmid Trius Therapeutics, Inc. William Huff Underground Elephant 4JMWFS4QPOTPST Chris Kelley Viejas Enterprises Bryon Borgardt Vintalk Services Michele Lambert Vista Community Clinic 'PS.PSF*OGPSNBUJPODBMM"QSJM8FTU Christopher Nelson Youngevity
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"QSJM 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF A SAN DIEGO BUSINESS JOURNAL SPECIAL REPORT RESIDENTIAL REAL ESTATE Developers Set Their Sights On Reconstructing Business
Developers who want to survive have adjusted Homebuyers Return CONSTRUCTION: Builders to the changing marketplace, he said. They He noted that the market for new homes has Caught in Changing Market recognize that in the future there will be more begun to pick up, even though the recession lin- opportunities in attached homes and urban-in- gers. “We are seeing better interest, better traffic Shift to Small, Infill Projects fill projects. The days of large developments of and more buyers this year than last year. We are single-family homes along the urban fringe are building attached product in the South County coming to an end. and detached product in the North County.” ®Ê#Z&..&51*&3$& Some builders and local contractors have Doyle, who has seen several real estate booms here have been a host of challenges for expanded their services to include the rehabili- and busts, joined Brookfield in 1993. He noted San Diego County’s residential real tation of foreclosed homes, Doyle said. Others ¨Developers page 19 estate developers since the housing are waiting out the recession by working on such market peaked in things as mini-storage centers and convenience 2005,T but many have found stores. ways to stay active while “You definitely will see more infill or smaller awaiting an economic turn- lot single-family development” as the economy around. improves and home construction accelerates, Steve Doyle, president Doyle added. Densities will be higher. “The land of the San Diego-Riverside that is remaining in San Diego and is available business group for Brook- for development is dwindling fast, yet popula- field Homes, said his firm 4UFWF%PZMF tion growth continues to be very strong.” has been selling dwellings “in Future homes will be built near employment the 130 to 150 homes per year range for the last centers, rather than in the suburbs, he said. couple of years.” In 2005 and 2006, “we were “When you are looking at $4 and $5 for a gallon building between 500 and 600 homes a year” and of gas, you will find people looking for homes selling buildable lots to other developers. that are closer to jobs.”
4UFQIFO8IBMFO +JN 4JMWFSXPPE PG "GàSNFE )PVTJOH (SPVQ BO ZFBS WFUFSBOJOUIFMPDBMBGGPSEBCMF IPVTJOH CVTJOFTT TBZT IJT àSNT SFDFOU FNQIBTJT IBT CFFOPOVSCBOJOàMMBOENVDI IJHIFSEFOTJUZQSPKFDUT
18 For Some Residential 19 Executive Profile: 21 County THE 20 Residential 22 Residential INSIDE Builders, Smaller, Paul Barnes of Operations Center Real Estate Property Lower Priced Homes Shea Homes Earns LEED Gold LISTS Agencies Management Are Better San Diego Certification Cos. Thumbnails SDBJ User Guide Front Page Table of Content
1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"-4QFDJBM3FQPSU "QSJM For Some Builders, Smaller, Lower Priced Homes Are Better in Orange County and Los Angeles. vice president, Russ Haley , says that while will build and home pricing will rise. CONSTRUCTION: With Roughly 15 builders closed or consoli- its typical low-rise to Barnes says he’s also optimistic about Little Inventory Available, dated their local offi ces, Harmer says. D.R. high-rise urban and sales at two of Shea’s upcoming projects: Horton Inc. had more than 500 local em- infi ll projects previ- Aria in Chula Vista, New Home Sales May Rise ployees and reduced its staff to fewer than ously ranged from which is opening in 10; Lennar Corp. consolidated operations 80 to 340 units, its June with 46 homes ®Ê#Z+6-*&("--"/5 in Los Angeles and dramatically reduced most current project, on 15,000-square- Residential builders may be down, its local presence; while Centex , William Beacons Leucadia, foot, single-family but they’re not out of the development Lyon Homes and Standard Pacifi c Homes consists of 10 high- lots, and Origin’s Sky- game. Some of the survivors are building closed their local offi ces and consolidated end luxury custom 3VTT)BMFZ loft community of 73 smaller or fewer homes, while others are in Orange County. homes ranging from loft homes along with regrouping with niche products or rental The decline is evident in the average 1,930 to 3,200 square feet. Social Garden’s 123 1BVM#BSOFT properties. number of sales in downtown San Diego, Starting in the low $900,000s, the homes condominium homes The story of the rise and fall of the which dropped from 1,200 home sales per are just beginning construction, and deliv- opening this fall in Mission Valley. building industry is told through such year between 2002 and 2006 to 360 sales ery is expected in late summer. “They’re unique enough that even in trade organizations as the Downtown Res- in 2010, according to Harmer. Haley says he’s optimistic about sales, today’s climate they have attributes that idential and Marketing Builders Alliance , which begin in May. they’ll do stellar sales, quite frankly,” he which grew from three market rate home Slow Recovery “There’s so little inventory in San Diego said. builders the year it was formed in 1999 to Now, new home projects are recovering right now that if you market a project right Although Harmer is expecting a slow 21 members by about 2006 and has been slowly because they’re in price competition and price it right, it should do well,” said economic recovery, he says local home drawn down again to two members. with resales, he says. Haley, adding that this is the fi rst project prices are becoming fairly stable and fore- Alliance members built 11,000 new “New homes generally sell for more CityMark has started in more than four closures and short sales are declining. homes in downtown than resales, but in today’s market many years. “There was a gap of one to two years To be competitive, new homes will have San Diego between are selling at the same price, and new con- when we weren’t selling anything at all. It to differentiate themselves from older 2000 and 2009, ac- struction costs more, so it’s hard to make was a very unsettling feeling. When the homes by being built with solar energy cording to Sherm any feasibility out of new construction,” economy tanked, everything stopped.” systems and other energy effi ciencies along Harmer , president Harmer said. One sign of improvement he points to with electronic upgrades such as com- of local development The survivors are adjusting. Some are is CityMark’s involvement in selling six puter-controlled lighting, temperatures fi rm Urban Housing ditching the 300-unit high-rises that can’t homes in about two months this year at the and music, remote-controlled appliances Partners Inc. , which be built in phases in favor of small phases 1Mission property in Mission Hills. and artifi cial landscaping. is constructing the 4IFSN)BSNFS of single-family homes. Also, Harmer says, most new housing sole project of its type “It reduces their fi nancial exposure,” Looking at 3 Factors will be more compact development, more downtown, a 40-unit rental property at Harmer said. “They’re also building Paul Barnes , president of Shea Homes multifamily and located on transportation Columbia and Fir streets in Little Italy. smaller homes that can be sold at lower San Diego , expects the velocity of home lines. Harmer cites as examples the 47-unit Harmer says many of the building price points.” buying to escalate once there’s a turn- Pacifi c Station in Encinitas, with town companies that were in San Diego County around in either the uncertainty about the homes, lofts and fl ats ranging from 600 during the boom years were regional or Scaling Back economy, world events or employment. to 2,400 square feet, and Urban Housing national builders that have since closed CityMark Development , an 11-year-old If any of those three factors crystallizes Partners’ joint venture Smart Corner proj- or dramatically reduced their local opera- fi rm of 20 employees in Hillcrest, is among favorably, there will be a quick recovery, ect, a 19-story, 301-unit mixed-use condo tions, some of them consolidating divisions those scaling back its projects. The fi rm’s Barnes says, adding that the momentum tower built on a trolley stop downtown.
Photo Caption Correction
On March 28, 2011, a listing of UC San Diego alumni and faculty entrepreneurs in the UC San Diego supplement included transposed A Global Tradition Making History in La Jolla photo captions. Below are the photos with the correct names. The San Diego Business Journal apologizes for the error. were hours at Harry’s when it filled with the people that you knew...” — Ernest Hemingway, Across the River and Into the Trees
Hours Mon-Fri: 11 a m - 10 p m Happy Hour Tapas Sat: 5pm-10pm Mon-Fri: 3pm-7pm Mon-Fri: 4pm-CLOSE
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EXECUTIVE PROFILE Paul Barnes
Paul Barnes serves as division presi- TRUE CONFESSIONS dent for Shea Homes San Diego. As What you like best about your job: The division president, Paul serves the role RESUME people. as chief clarification officer and makes Name: Paul L.L. Barnes. What you like least about your job: sure that all the various disciplines Company: Shea Homes. Dealing with uninspired bureaucracies. within the organization are working as Title: President San Diego division. Pet peeves: Laziness, not taking re- a team toward a common set of goals. Revenue — 2010: $113,500,000. sponsibility. Shea Homes was recently recognized by Revenue — 2009: $104,600,000. Most important lesson learned: Never J.D. Power and Associates as a leading No. of employees: 48. give up. customer service organization, ranking Year founded: 1881. Person most interested in meeting: in the top 5 percent in a group of 800 Education: Undergraduate: UC George Washington — He never gave up. companies, and the only homebuilder San Diego; graduate: San Diego Three greatest passions: Living, learn- to receive this acknowledgement. He State University. ing and eating. believes that this is a testament to the Birthplace: Los Angeles. First choice for a new career: Owning great team members with whom he has Age: 48. and managing a race team. the privilege of working. Current residence: Encinitas. PREDILECTIONS BUSINESS PHILOSOPHY Favorite quote: “If the wind will not Essential business philosophy: Listen serve, take to the oars.” — know that those who touch the prob- Most influential book: “The Power lem probably know the best solution. the housing agenda for those who don’t Broker: Robert Moses and the Fall of Best way to keep a competitive edge: have a voice. New York” by Robert A. Caro — what Eliminate fear in an organization. can I say, I like to build things. Guiding principles: My job is to make JUDGMENT CALLS Toughest business decision: “Right siz- Favorite status symbol: My dog. sure that the industry’s best have the Best business decision: Finding a ca- ing” an organization. Favorite place for business meetings: tools to succeed. reer that I am passionate about. Biggest missed opportunity: Not buy- Walking construction sites with people. Yardsticks of success: Customer feed- Worst business decision: I guess I’ve ing the old “Speedster” in the barn at Favorite vacation spot: Utah. back. learned from them all, which makes Black Horse Farms. Favorite way to spend time: Laughing. Goals yet to be achieved: Advancing them all positive experiences. Word that describes you: Curious. 4UFWF"EBNFL
Developers: ¨from page 17 that many builders have moved their op- erations out of San Diego County in recent years. “There are a few still brave enough to be independent and fully functioning in San Diego, but the larger public builders who are looking to buy finished or near-finished lots have consolidated their efforts somewhere in the Irvine-Corona corridor” where there are more building opportunities. One growth opportunity will come in meeting the housing needs of low-wage earners, said Jim Silverwood, president and chief executive officer of Affirmed Housing Group. He oversees investor and lender negotiations, financial underwriting and construction and asset management for the company. He has spent 18 years in the affordable housing business here. “We develop affordable and work force housing throughout California,” he said. “Years ago we did more suburban afford- able housing. More recently our emphasis has been on urban infill and much higher 4UFQIFO8IBMFO density.” +JN4JMWFSXPPE QSFTJEFOUBOE$&0PG"GàSNFE)PVTJOH(SPVQ TBZTTUSPOHPQQPTJUJPOUPSFOUBMIPVTJOHUIBUPODFXBTDPNNPOQMBDFJOUIF4BO The company has placed a high empha- %JFHPBSFBIBTEJNJOJTIFEJOSFDFOUZFBST sis on green building and keeping homes than during the boom. We have had years I am guessing 16 or 17 houses last year. We Diego region, despite the challenges. “My close to transit centers. The focus of the where we have delivered over 400 units. We would be up to 300, 320 in our best year. I roots are here,” he said. business is creating rental housing. He have had years where we have delivered as don’t see San Diego as being a community Guy Asaro, president of McMillin noted that the strong opposition to rental few as 40 or 50. Our success often is driven that can support that kind of activity any Homes, which is part of housing that once was commonplace in the by our ability to access other funding longer. Lots are not as accessible as they the Point Loma-based San Diego area has diminished in recent sources. We have to cobble together several have been over the last 20, 30 years.” The Corky McMillin years. That is because community leaders layers of funding. It is a rather complicated Davidson said he is among those who Cos., has been in the are trying to find more environmentally and time-consuming process.” are making the transition from suburban industry for nearly sustainable ways to approach construc- High-end home builder Bill Davidson, single-family lot development to infill three decades. Like tion, he said. president of Davidson Communities, has construction. Future home construction Davidson, he sees a been a fixture on the here may take place on the site of a former trend toward infill de- San Diego housing bowling alley or an underutilized shopping velopment. Although Sheltered From the Storm (VZ"TBSP The company is based in the Sabre scene for more than center, he explained. Coffee shops and the business is chang- Springs area, near the intersection of Inter- three decades. David- grocery stores may be incorporated into ing, he remains optimistic about the future state 15 and state Route 56. It often partners son said his compa- new housing developments. for local builders. with government agencies and nonprofit or- ny’s activity has fallen “We will have to rezone and go through “We see volumes in sales increasing in ganizations. Affirmed Housing Group has steeply since the days the planning process of trying to create 2011,” he said. “We certainly have seen not seen the same rise and fall of business of the housing boom, mixed-use, which I think is a trend for the a lot of price stability. My impression is that has plagued most local builders. which raged from the #JMM%BWJETPO future,” he said. that consumers are understanding that “We did not have a real boom period early to mid-2000s. real estate is undervalued and in the long when the for-sale market went through its “We have had very little activity the last Loyal to Local Industry term it is a good investment.” dramatic run up,” Silverwood said. “In couple of years,” he said. “My company is Davidson, who is based in Del Mar, said Emmet Pierce is a freelance writer for the general, our revenue is actually higher now as small as it has been since I started in 1978. his company will remain active in the San San Diego Business Journal. Thumbnails SDBJ User Guide Front Page Table of Content
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"QSJM 4"/%*&(0#64*/&44+063/"-4QFDJBM3FQPSU www.sdbj.com 1BHF Operations Center Buildings Earn LEED Gold Certification The two 150,000-square-foot office percent less water by using high-efficiency buildings recently completed in the first plumbing fixtures rather than conventional phase of the County Operations Center devices. A San Diego Gas & Electric Co. and Annex redevelopment in Kearny Mesa solar electric system, hosted on Parking have earned Leadership in Energy and Structure A, supplies the electrical grid Environmental Design Gold certification with an estimated 627,216 kilowatt-hour by the U.S. Green Building Council. per year of clean energy, enough to supply The four-story buildings, developed by 103 average single-family homes in San Lowe Enterprises on behalf of the county, Diego County. incorporate the latest in sustainable de- Landscaping features drought-tolerant sign, construction practices and building plants and an irrigation system that has materials. The buildings are managed provided a 50 percent reduction in irriga- using sustainable practices that reduce tion water usage. Other building systems environmental effects and also reduce daily allow for internal water consumption to operations costs. Approximately 1,100 be reduced by 40 percent. In addition, the employees from nine county departments project recycled 90 percent of its construc- have relocated to the new buildings since tion debris. they were completed in fall 2010. The 38-acre County Operations Cen- “Creating a sustainable building is not ter, located on Overland Avenue, is being only better for the physical environment, developed by Lowe in three phases. The but it also creates a better work environ- second phase of development, including ment,” said Mike McNerney, senior vice two additional 150,000-square-foot office president at Lowe Enterprises Real Estate buildings and a 15,000-square-foot confer- Group. “Earning LEED Gold is the result ence center and a cafeteria, is currently un- of the county staff and everyone on the der way. When completed, the new campus project team working together to bring is expected to include 900,000 square feet sustainable aspects to the campus.” of modern, efficient office space, built to The County Operations Center build- LEED Gold certification standards, along ings’ sustainable design incorporates a with two multi-level parking structures. variety of energy-efficient, green building The project team also includes RJC technologies. Abundant windows allow for Architects, Roel Construction Inc., Howard natural light, while energy-efficient roofing Wright Construction and Arciero Bros. and glazing systems reduce heat gain. The Construction with Project Management new office buildings use 28 percent less Advisors and the county of San Diego De- 1IPUPTDPVSUFTZPG-PXF&OUFSQSJTFT energy compared to a building designed partment of General Services overseeing 4VTUBJOBCMFEFTJHO DPOTUSVDUJPOQSBDUJDFTBOECVJMEJOHNBUFSJBMTJODPSQPSBUFEJOUIF$PVOUZ to only meet California’s minimum energy the project on behalf of the county Board 0QFSBUJPOT$FOUFSBOE"OOFYSFEFWFMPQNFOUIFMQFEUIFàSTUQIBTFPGUIFQSPKFDUBDIJFWFB(PME performance requirements and consume 40 of Supervisors. -&&%DFSUJàDBUJPOGSPNUIF64(SFFO#VJMEJOH$PVODJM
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/BUIBO'MFUDIFS &SOFTU-.D%VGàF 1I% %BSJO"OEFSTFO %VBOF3PUI 3VCFO#BSSBMFT Assemblyman Lead for the National Initiative for COO CEO President & CEO Cybersecurity Education (NICE) ESET CONNECT San Diego Regional Chamber of Commerce :PVBMTPXJMMXBOUUPBUUFOEUIF4BO%JFHP#VTJOFTT+PVSOBMTUI"OOVBM *OGPSNBUJPO5FDIOPMPHZ&YFDVUJWFPGUIF:FBS"XBSET JNNFEJBUFMZGPMMPXJOHUIFTZNQPTJVN 4QFDJBMSPPNSBUFTBWBJMBCMFBUUIF%PVCMFUSFF)PUFM4BO%JFHP(PUPIUUQUJOZVSMDPNZZ
UI"OOVBM *OGPSNBUJPO5FDIOPMPHZ &YFDVUJWF"XBSET 5VFTEBZ .BZ rQN %PVCMFUSFF)PUFM4BO%JFHP .JTTJPO7BMMFZ])B[BSE$FOUFS%SJWF 4BO%JFHP $" 4QFDJBM"XBSET3FDFQUJPOXJUI)PTUFE)PST%0FVWSFT This event recognizes the most outstanding information technology executives who work in San Diego, as nominated by their employers, employees or clients. -JGFUJNF"DIJFWFNFOU &YFNQMBSZ1FSGPSNBODF $"--'03/0.*/"5*0/4 "XBSE3FDJQJFOU "XBSE3FDJQJFOU "OJOEFQFOEFOUQBOFMPGKVEHFTXJMMTFMFDU IPOPSFFTJOFBDIPGUIFGPMMPXJOHDBUFHPSJFT • Public Company (Publicly Traded) • Private Company (Privately Held) • Nonprofi t Organization (e.g., 501(c)3) • Government Agency • Business Nonprofi t (e.g., Credit Union) • Education 1MFBTFFNBJMOPNJOBUJPOTUPBXFTU!TECKDPN PSTVCNJUPOMJOFBUXXXTECKDPNCJ[FWFOUT 1MFBTFLFFQSFTQPOTFTUPXPSETPSMFTTXIFOSFTQPOEJOH %BWJE,BZ .BSL,PIMIFJN WordSmart Cubic Corporation (formerly with SPAWAR) UPFBDIRVFTUJPO/PNJOBUJPOTOPUUPFYDFFEQBHFT
/0.*/"5*0/%&"%-*/&&95&/%&%508&%/&4%": "13*-
(PME4QPOTPS Sponsorships Available
For More InformationContact April West at (858) 277-6695 Updated 4/7/11 Thumbnails SDBJ User Guide Front Page Table of Content
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Train your employees on Fire Safety today!
The Burn Institute’s Emergency Preparedness in the Workplace Program is structured around the guidelines and recommendations made by OSHA, DOSH, and Cal/OSHA, the National Fire Protection Association and other recognized experts and can be tailored to meet the needs of your business.
Since 1972, the Burn Institute has been the local authority on fire and burn prevention, specializing in education, burn survivor support services and protecting our community. When you choose the Institute for your training, you are not only protecting your employees and business, but assisting local burn survivors and providing education to prevent future tragedy. So why not call on the experts – and do something good for those who need it most.
For a nominal fee, the Burn Institute will provide your employees with this valuable training and ensure that your business is OSHA compliant. Fee includes equipment and course completion certificates.
Why should I train my employees?
Trained Employees:
UÊ Respond with greater confidence to emergency situations.
UÊ Use portable extinguishers with nearly three times greater effectiveness.
UÊ Can help reduce or eliminate property loss due to fire.
UÊ Can help reduce or eliminate production downtime and loss of valuable materials.
UÊ Can help reduce injuries and Save Lives!
Proceeds from this program will support the important work of the Burn Institute such as fire and burn prevention education programs, fund burn research and treatment and support burn survivor support programs such as Camp Beyond The Scars for burn-injured children. The Burn Institute is a 501(c)3 charitable organization.
Limited Offer:
Pay For 1 Training and Get a 2nd Training Free 858.541.2277 (ext.13) www.burninstitute.org Thumbnails SDBJ User Guide Front Page Table of Content
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News and notes from communities around REGIONAL REPORT San Diego County
X &4$0/%*%0ESCONDIDO Tierra Data Awarded Major Navy Contract Tierra Data Inc., a provider of natural resources planning, surveys and man- agement, was awarded a contract worth up to $10 million by the U.S. Navy, the company announced last month. The work will be performed in ter- ritories under the auspices of the Naval Facilities Engineering Command South- west, and include sites for the Navy and Marine Corps in California, Washington, Guam and Hawaii. Among the services are mapping and analyzing natural and cultural resources, habitats, vegetation and wildlife. The work is scheduled to be completed in 2016. .JLF"MMFO
X $"3-4#"%CARLSBAD Legoland Opens New ‘Star Wars’ Attraction Legoland California in Carlsbad has debuted its Star Wars Miniland, featuring 2,000 Lego models in interactive scenes from the six “Star Wars” movies. Actress Carrie Fisher, who portrayed Princess Leia in the first three films, was among guests commemorating the grand opening at a March 31 ceremony. 1IPUPDPVSUFTZPG-FHPMBOE$BMJGPSOJB %VSJOHB.BSDIDFSFNPOZ -FHPMBOE$BMJGPSOJBJO$BSMTCBEPGàDJBMMZPQFOFEJUTOFX4UBS8BST.JOJMBOE GFBUVSJOHJOUFSBDUJWFTDFOFTGSPNUIF Fisher presented a $5,000 check from TJYA4UBS8BSTNPWJFT Legoland to Make-A-Wish Foundation’s San Diego chapter. Fisher also met with 9-year-old Carson veloper of video compression and work ings of using solar. holders of record March 31. Wiener, who suffers from leukemia and flow technology for the professional film -PV)JSTI RF Industries went through a two- was granted a wish to meet a “Star Wars” and television industry, was acquired SAN DIEGO for-one stock split on March 10. Shares, hero and master model builder Gary by GoPro, which makes wearable and X 4"/%*&(0 traded on the Nasdaq as RFIL, closed McIntire. According to a park statement, mountable cameras. Electronics Company Set April 1 at $3.86, down 3 percent from the Miniland scenes are built with more than CineForm developed a professional prior day’s close of $3.98. 1.5 million Lego bricks, with some models codec technology that makes high-defi- To Pay Quarterly Dividend #SBE(SBWFT more than 6 feet tall. nition and 3-D editing faster and more RF Industries, the Miramar-area maker During the ceremony, Wiener broke convenient. The codec was used in the of cable assemblies, coaxial connectors a red ribbon with a “Star Wars” light making of Oscar-winning film, “Slumdog and related electronics products, said If you have a business-related saber to officially open the attraction, Millionaire,” the company said. March 29 it will pay a regular quarterly item for Regional Report, send it to [email protected]. and costumed “Star Wars” Storm- Following the sale, whose price was not cash dividend of 2 cents per share. The High-resolution images are accepted. trooper characters guarded scenes amid disclosed, CineForm will move its office dividend will be payable April 15 to share- exploding pyrotechnics. and employees to an existing office of Legoland is owned by U.K.-based GoPro’s in Cardiff-by-the-Sea, and have Merlin Entertainments Group, which a total of 20 workers. GoPro is based in operates 70 attractions and six hotels in Half Moon Bay. 16 countries. .JLF"MMFO -PV)JSTI X &-$"+0/EL CAJON X TIERRASANTA 5*&33"4"/5" Water District Debuts $525K Defense Deal a Its Solar Technology Boost to Small Business The Helix Water District, with head- NxGen Electronics of Tierrasanta said quarters in El Cajon, has activated a new March 25 that it received a $525,000 290-kilowatt solar photovoltaic system, award from a major defense contractor. designed to offset more than 11.9 million The pre-production quantity order is pounds of greenhouse gas emissions dur- for two types of miniaturized power cir- ing the next 20 years. The new technology cuits — a wideband linear regulator and was unveiled in a March 30 ceremony at a full bridge control board — that will go the district office. in a U.S. Navy radar project. The business A statement said the zero-emission sys- cites many benefits of using miniaturized tem, located at Helix’s Nat L. Eggert Op- power circuits, including the need for erations Center, was provided through a fewer radar antennas, and better use of partnership with El Cajon-based Borrego power, electronics and bandwidth. Solar Systems Inc., which designs and Privately owned NxGen is a small installs grid-tied solar electric systems, business founded in 2002. Ron Cas- and the California Center for Sustainable ten is president. Art Fillmore is chief Energy in San Diego. executive officer. Officials said the project’s cost was sub- #SBE(SBWFT stantially offset by a $463,900 rebate from SOLANA BEACH the California Solar Initiative, awarded X 40-"/"#&"$) by the sustainable energy center. The GoPro Acquires Local Helix district contracted with the center’s Energy Advisory Service to conduct an 1IPUPDPVSUFTZPG#PSSFHP4PMBS4ZTUFNT*OD Film Industry Firm independent energy analysis, in order to 5FDIOPMPHZGSPNMPDBMMZCBTFE#PSSFHP4PMBS4ZTUFNT*ODJTOPXJOVTFBU)FMJY8BUFS%JTUSJDU Locally based CineForm Inc., a de- determine potential energy and cost sav- GBDJMJUJFTJO&M$BKPO Thumbnails SDBJ User Guide Front Page Table of Content
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3FOEFSJOHDPVSUFTZPG1BDJàDB$PT 3FOEFSJOHDPVSUFTZPG4VECFSSZ1SPQFSUJFT $POTUSVDUJPOSFDFOUMZCFHBOPOUIFGVMMTFSWJDF4FBDPBTU*OO CFJOHCVJMUXIFSFBOPMENPUFM 4BO%JFHPCBTFE4VECFSSZ1SPQFSUJFTQMBOTUPCVJMEBSFUBJMDFOUFSBU1BMN"WFOVFBOE/JOUI PODFTUPPEPOUIF*NQFSJBM#FBDIPDFBOGSPOU5IFJOOJTTFUUPPQFOJO 4USFFU SFQMBDJOHBTUSJQNBMMBUUIF*NQFSJBM#FBDITJUF
the gradual thaw in the economy, which is Working With Nature Properties is in talks with tenants to fill Im- Imperial Beach: helping both the retail and hotel projects For instance, new oceanfront develop- perial Beach Promenade, which will have move forward — even as new retail and ho- ment could complement proposals to make about 45,000 square feet of retail space ¨from page 1 tel development remain scarce throughout the city a mecca for ecotourism — such and is set for completion in early 2013. San Diego County. While he was not prepared to name Properties plans to start construction in as bird-watching excursions — taking New retail will be geared to local resi- them, company President Colton Sudberry early 2012 on a $15 million retail center, advantage of the city’s proximity to both dents, while the Seacoast Inn and ripple set to replace a mostly vacated strip plaza the Pacific Ocean and San Diego Bay. said there have been serious negotiations in the city’s aging Palm Avenue corridor, beachfront development could help lure Past studies have indicated that the effort with a national small-format grocer, a which is also undergoing more than tourists. depends in part on boosting options for national coffeehouse chain and several $100,000 in city-assisted storefront façade “It’s going to be a significant improve- overnight stays in the city. restaurants, among others. improvements. ment over what was there,” Selby said, Currently, Selby noted, the city’s only The promenade will replace an older Those projects follow a previously com- of the Seacoast Inn site. “It’s going to be large, ocean-adjacent hospitality offer- existing plaza spanning about three city pleted, $3 million Palm Avenue street-end more of a destination, with things that ing is Beach Club, which rents condos to blocks, which will be demolished after the project, backed by the Port of San Diego, would make you want to stay and check vacationers. city relocates the last of the existing tenants. which created a beach overlook and park- out the scene, even if you’re not staying New hotel construction, including “It had become dilapidated over the years, like setting that now sports an 18-foot-tall overnight.” oceanfront projects, remains rare in San and the city has made it a priority to get bronze surfer statue. The project also Allison Rolfe, director of planning Diego County, as the industry continues something nicer in there,” Sudberry said. provided earlier repairs to the city’s pier with Pacifica Cos., said the hotel is to absorb past excess supply. Alan Reay, Sudberry said the Imperial Beach proj- area. slated to open by late summer 2012. The president of Irvine-based consulting firm ect, located just off Highway 75. will follow Jerry Selby, redevelopment coordinator four-story property will have amenities Atlas Hospitality Group, said the only his company’s recent strategy of finding for the City of Imperial Beach, said the including a restaurant, conference space significant local oceanfront development well-placed infill sites to build neighbor- long-term future of local projects remains and spa. he knows of is the 215-room Hilton Carls- hood and regional centers, since most of cloudy because of state proposals to abol- “This was designed as a catalyst proj- bad Oceanfront Resort & Spa, being built the prime outlying retail properties in the ish redevelopment agencies. ect,” Rolfe said. “What this leads to in at Carlsbad Boulevard and Ponto Drive county have been built out. terms of other projects in the vicinity, we’ll in Carlsbad by Wave Crest Oceanfront For instance, Sudberry is also devel- Attracting Locals and Tourists see; the city’s hope is that this will lead to LLC. oping a 300,000-square-foot regional However, he noted those uncertainties investment by others for different kinds To the east of the Seacoast Inn site, at center in National City, to be anchored could be balanced out in the short term by of projects.” Palm Avenue and Ninth Street, Sudberry by Lowe’s.
EMERALD TEXTILES Laundry: CEO: 5PN(JMESFE ¨from page 1 Revenue: &TUJNBUFENJMMJPOUPNJMMJPO JO and scrubs is Emerald Textiles’ high-tech, No. of local employees: automated system that Gildred said cost Investors: about $20 million. (JMESFEBOE#PC1BZOF “This is based on our state-of-the-art Headquarters:0UBZ.FTB equipment, and nobody’s made this type Year founded: of investment in this industry in all of Company description:*OEVTUSJBMMBVOESZ California,” said Gildred. QSPWJEJOHMJOFOTFSWJDFUPIFBMUIDBSFJOEVTUSZ In terms of water use, Emerald’s high-tech washer machines will save an shifts, Emerald Textiles can clean and press estimated 40 million gallons annually com- about 60 million pounds of laundry a year, pared to using traditional processes. For Gildred said. natural gas, annual estimated savings by Victor Heredia, operations manager for its advanced driers are more than 700,000 Emerald, said at previous laundries he’s therms, the company said. worked at the equipment was replaced
as it wore out; here, everything is brand 1IPUPDPVSUFTZPG&NFSBME5FYUJMFT Linens Processed Systematically new, he said. What may be even more impressive is $POUSBDUTGSPN4DSJQQT.FSDZ.FEJDBM(SPVQ 4IBSQ)FBMUI$BSFBOEUIF6$4BO%JFHP)FBMUI Heredia and other Emerald managers 4ZTUFNIBWFHJWFOBCPPTUUPBO0UBZ.FTBJOEVTUSJBMMBVOESZGBDJMJUZ &NFSBME5FYUJMFT Emerald’s logistics system for receiving, were involved in designing the laundry’s sorting, washing and delivering the laun- layout of machinery. The design was done dry. The bed linens, blankets, and scrubs by Western State Design of Hayward. vice to the organization that encompasses Patricia Strauss, an Angelica director in are moved along through the various Gildred’s partner in Emerald Textiles seven hospitals and 19 Sharp Rees-Stealy San Diego, said Emerald’s entrance into stages of cleaning using huge duffel bags is Bob Payne, the former owner of the medical clinics. While he didn’t disclose the local market has had an impact. “It hung from an overhead monorail made by Hanalei Hotel and Old Ox Restaurant the dollar value of the three-year contract, has taken some business away from us,” E-Tech of Minnesota. The hanging bags (both of which were sold), and a major Cihomsky said it will save the company an Strauss said, without providing details. Lo- that move along the rail system eliminate donor to San Diego State University. estimated $1 million in the first year. cal employment, which the company said workers’ having to pick the bags up and Gildred’s father is a cousin of Theodore The energy savings derived from the last year was 400, has dropped, but Strauss reduces the number of back injuries com- Gildred, chairman of The Lomas Santa modern equipment was a factor in award- declined to provide the number. monly experienced at industrial laundries, Fe Group and a former U.S. ambassador ing the contract, Cihomsky said. “We’re Gildred said Emerald began operations Gildred said. working with a company that has efficient to Argentina. at the plant in the fall with a skeleton “We use about a half gallon of water Both men decided to get into the laun- technology that’s reducing water and per pound of laundry where a typical power usage. That coincides with our green crew of 80, which has since expanded dry business after seeing a need and realiz- to about 170 workers. “We’ll be adding industrial laundry would use about 1.8 ing that modern, energy-saving equipment initiative to reduce our power usage and between 50 to 60 more people over the gallons per pound, and a typical home would greatly reduce expenses and gain reduce our waste stream, and do whatever next six months,” he said. Eventually, as washer would use 15 gallons per pound,” market share. we can do to have a positive impact on the said Dan Leavy, Emerald’s director of environment.” business picks up, staffing should get to customer service. Landing a Big Customer Sharp’s former laundry provider was about 250. The seven-cycle washers can handle John Cihomsky, spokesman for Sharp Angelica Corp., a Georgia-based company He said annual revenue in the first full 4,000 pounds of laundry per hour. At full HealthCare, said Emerald beat out four that was acquired by a private equity firm, calendar year will run about $20 million capacity, operating with two eight-hour other vendors to provide the laundry ser- Trilantic Capital Partners, in 2008. to $25 million. Thumbnails SDBJ User Guide Front Page Table of Content
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The eatery, which now goes by the name Rubio’s Fresh Mexican Grill, was founded in 1983. Its Web site lists 203 stores in five Western states, up from 195 restaurants in May, the month that Mill Road Capital bought the business for $91 million.
San Diego DNA The Rubio’s fish taco is one of a dozen products and places judged recently by San Diego Business Journal editors as the region’s most iconic brands. Beginning in late March, the editors set out to list San Diego’s most famous products and places, coming up with five dozen. Ranking them on a scale of 1 to 5, they came up with a list of the 12 top- scoring brands. Several places made the list, including the San Diego Zoo, run by the Zoological 'JMFQIPUPDPVSUFTZPG(FOFSBM"UPNJDT"FSPOBVUJDBM4ZTUFNT Society of San Diego; SeaWorld San Di- 5IF1SFEBUPSVONBOOFENJMJUBSZBJSDSBGUIBTMBOEFEBQMBDFPOUIFMJTUPGUIFBSFBTNPTUGBNPVTQSPEVDUTBOEQMBDFT ego, part of SeaWorld Parks & Entertain- ment; and the Hotel del Coronado. works hard to promote its history. “We While the county’s beaches did not make Placing the Product have a responsibility to keep (the experi- the list, oceanfront venues such as the Del The foundation of a good brand is a ence) fresh and alive, while paying homage SAN DIEGO ICONS Mar racetrack and San Diego’s Torrey quality product, observes Reid Carr, presi- to the past,” said Barry Brown, director #JH#FSUIB Pines municipal golf course did. dent of the online marketing agency Red of sales and marketing #VNCMF#FF$IJDLFOPGUIF4FB UJF Comic-Con, a production of Comic- Door Interactive Inc. at the 1888-vintage Con International, which brings tens of Adapting to different markets is key, hotel. He says the art $PNJD$PO thousands of costumed comic book fans Carr says. While Californians may view of balancing the past %FM.BSSBDFUSBDL to downtown San Diego, made the list. WD-40 as a lubricant and squeak-stop- and present includes Products making the list included the per, the Chinese may see it more as a rust keeping up with con- )PUFMEFM$PSPOBEP Jet Ski personal watercraft, a product of protector. temporary visitors’ +FU4LJ Kawasaki Motors Corp., which is credited An effective brand offers an emotional tastes in food, while 1SFEBUPS to an Arizona inventor but has a North connection that makes an individual con- dispelling the notion #BSSZ#SPXO County tie. Other products were WD-40 sumer choose one product over another, that since the hotel is 3VCJPTàTIUBDPT lubricant, a product of WD-40 Co., and Carr says. People associate locations with old, it does not have air conditioning. 4BO%JFHP;PP the Big Bertha line of golf clubs, produced memories. The people marketing the zoo 4FB8PSME4BO%JFHP by Carlsbad-based Callaway Golf Co. The and SeaWorld can tap into the memories Staying Power Predator unmanned military aircraft made people already have of those places. San Diego has been fertile ground 5PSSFZ1JOFT(PMG$PVSTF by General Atomics Aeronautical Systems Digitaria’s Khabie says if he had one for new technology. The Massachusetts 8% Inc., an affiliate ofGeneral Atomics, made shot at showing outsiders what San Diego Institute of Technology credits Clayton the list. was all about, he would take them to the Jacobsen II of Arizona with developing the Tied for the remaining spot were Hotel del Coronado. The hotel “exudes personal watercraft known by the name its newest drivers under the names Diablo, Bumble Bee tuna, packed by Bumble Bee the brand of San Diego,” he said, offering Jet Ski. Jacobsen’s prototype, however, FT and Razr. “In golf, as in any business Foods LLC, and Chicken of the Sea tuna. beauty and relaxation, history and class went through its paces on Agua Hedionda category, product lifecycles simply run Both hearken back to the days when San (11 presidents have visited), and sexiness Lagoon. their course,” said Callaway spokesman Diego supported a busy fishing port and (Marilyn Monroe filmed “Some Like It One iconic brand has endured, though Scott Goryl by e-mail. canning industry. Daniels cites Bumble Hot” there). Self-awareness is a key to it has fallen into disuse. Still, Goryl added a caveat. Bee as an example of a snappy, easily branding, and the hotel has it. Callaway Golf introduced its Big Bertha “There is a chance,” he wrote, “you have remembered name. The hotel’s marketing machine certainly driver in 1991. Today, Callaway markets not heard the last of Big Bertha.”
BIOCEPT nology company. One of our objectives For Hale, cancer detection has always Hale: is to bring in additional financing to the been an area of professional interest, CEO:1PTJUJPOJTWBDBOU company and to finance the launch of the starting in the 1980s. He was integral in ¨from page 1 Executive chairman of the board: %BWJE first product.” creating the PSA test for prostate cancer, ')BMF launched in 1986 while serving as president “David has extensive experience in The product he’s referring to is Onco- of Hybritech Inc. The test became one of both getting companies off the ground Financial information:8PVMEOPUEJTDMPTF CEE-BR, which uses a blood sample to the world’s most widely used diagnostic and moving companies into commercial- No. of local employees: detect the presence of breast-cancer tumor cells. It’s expected to hit the market in the tools for cancer, Hale says. ization,” said Joseph Panetta, CEO of Investors:1SJWBUFMZGVOEFECZUIF3FJTTGBNJMZ In joining Biocept, Hale also joins Biocom, a regional life sciences trade as- BOEPUIFSVOEJTDMPTFEJOWFTUPST third quarter, and will be used mainly to track the progress of cancer treatments an old friend, Ivor sociation based in San Diego. Hale helped Headquarters: 4BO%JFHP OFBSUIF4PSSFOUP Royston, a co-founder create Biocom and still serves on its board. .FTBBSFB without having to conduct painful tissue biopsies. Hale says that Biocept intends to of Hybritech. The “Commercializing is a much different un- Year founded: company was eventu- dertaking than R&D. It takes a solid base apply that technology to tests that detect Company description: ally acquired by Eli of talent to move in that direction.” "EJBHOPTUJDBOE circulating tumor cells from lung cancer, MBCPSBUPSZTFSWJDFTDPNQBOZGPDVTFEPOUIF colorectal cancer, and prostate cancer, Lilly and Co. The duo But talent is just one piece of the puzzle, DBQUVSF EFUFDUJPO FOVNFSBUJPOBOEBOBMZTJTPG among others. Those could be available as also worked togeth- notes Duane Roth, CEO of Connect, a DJSDVMBUJOHUVNPSDFMMTJOUIFCMPPETUSFBN er at the oncology San Diego nonprofit that helps biotech early as September, says Hale, declining to provide revenue projections. company CancerVax *WPS3PZTUPO firms commercialize products; Hale also Corp., which merged is a founder of that organization. “There’s died in 2005. Reiss’ wife, Claire Reiss, with Micromet Inc. in 2006. Royston be- probably no one in San Diego with a bigger continues to serve on Biocept’s board as Caring for Cancer Patients came a Biocept director at the end of 2010 “This is a very important area of Rolodex than David has,” Roth said. “He chairwoman emeritus. and had a role in bringing Hale on board medicine today,” said Hale, who has been knows all the right people.” Hale said that he’ll be working with the as executive chairman. board to “set the strategic direction of chairman and CEO of Hale BioPharma “When I talked to recruiting firms, they Seeking More Financing the company and ensure that we have the Ventures LLC since 2006. “We believe that told me, ‘You’re not going to get David,’ ” Those connections will be key as Bio- senior-level executives in place” to achieve we can help physicians by being the best in Royston laughed. “But I asked David to go cept looks to expand into new sources of its goals. That likely will include hiring a the world at capturing these tumor cells.” ahead and take a look at this company. We financing. The company has held the inter- chief executive, he adds. Through a molecular analysis of the both share excitement for the technology. esting distinction of operating without any “Hopefully, if we do those things well, cells, it may be possible to create individu- It can revolutionize how we treat cancer venture capital. It is privately funded, pri- we will create some significant value for alized therapy, he says. “I’m excited about and how we diagnose cancer recurrence.” marily by the family of company founder our shareholders,” Hale said. “It takes a the potential of this technology to improve Kelly Quigley is a freelance writer for the Robert Reiss, a biomedical engineer who lot of money to build a successful biotech- the treatment of patients with cancer.” San Diego Business Journal. Thumbnails SDBJ User Guide Front Page Table of Content
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VIACYTE is one of the very few companies that have It was a long, lonely and, at first, unsup- received funding from CIRM.” ported project. But in 2006, he reported Kyoto: CEO: +PIO48FTU that his team was able to get mouse cells ¨from page 3 Financial to become stem cells. information:/PU Controversy Over Source of Cells been called “the most important stem cell EJTDMPTFE CIRM arose from the ashes of the Bush administration clamp-down on stem cell breakthrough of all time.” No. of local Accidental Discovery “We wanted to work with Dr. Yamana- employees: research because of the use of human em- He came to the discovery by a side trip bryos — which remains controversial. from his original research in cardiovas- ka’s cells,” said ViaCyte Chief Executive Investors: 1SJWBUFMZ OfficerJohn S. West. “We want to get clini- IFME WFOUVSFDBQJUBM Yamanaka’s discovery of a way to turn cular disease during his Ph.D. studies at cal experience so we can show it works and CBDLFE adult human cells The J. David Gladstone Institutes in San +PIO48FTU into stem cells was Francisco. A supervisor gave him a gene we can plug this right into effective, safe Headquarters:5PSSFZ treatments that people can actually use.” 1JOFT CSBODIJO"UIFOT (B the result of a single- that may have links to arteriosclerosis to minded determina- use in creating “knockout” mice, mice with ViaCyte is far down the road in de- Year founded:'PVOEFEJOBT/PWPDFMM veloping a device that uses stem cells to *OD UIFDPNQBOZNFSHFEXJUI$Z5IFSBBOE tion to eliminate the specific characteristics needed for testing. become the essential pancreas cells that #SFTBHFOJO BOEDIBOHFEJUTOBNFUP need to use human “It turned out the gene was important treat diabetes by sensing the glucose levels 7JB$ZUFJO embryos to obtain in cancer, not what I was studying,” Ya- in the blood and then reacting by releasing Company description:7JB$ZUFJTB stem cells. manaka said. “But it was very interest- insulin or glucagon as the two hormones QSFDMJOJDBMUIFSBQFVUJDDPNQBOZGPDVTFEPO “The first time I 4IJOZB:BNBOBLB ing. I found another gene I thought was EJBCFUFT EFWFMPQJOHUIFSBQJFTXJUIIVNBO saw an embryo, a tiny important in cancer. It turned out to be that control the highs and lows of blood FNCSZPOJDTUFNDFMMMJOFT sugar are needed. human, I made up my mind,” Yamanaka important to stem cells.” “We think we are two years away from said. The cells derived from human skin aren’t the first human trial, and that will take The stem cells from embryos are so ready for prime time, Yamanaka said. He a few more years because the first year in CIRM grants so far. The bulk of the valuable because they are undifferentiated, points out that he uses a retrovirus that causes perhaps 10 or 20 people will try it,” West money has gone to universities, hospitals which means they don’t know what to grow cancer — undifferentiated growth — in the said. and nonprofit research institutes including into as they split into more and more cells. process of deriving stem cells. And they have The California Institute for Regenera- The Scripps Research Institute and the So putting the genetic code of a defining to be tested and retested for safety. tive Medicine, the state consortium of stem Salk Institute for Biological Studies. cell into a stem cell informs the cell what But since he isolated them, Yamanaka cells researchers created by Proposition 71 Joe Panetta, president and CEO of Bio- kind of cell to become and to create by and his team have changed the protocols in 2004 with $3 billion in taxpayer dollars, com, the trade group representing the life multiplying. for how skin cells become stem cells to get supports ViaCyte’s work. The institute is sciences industry in Southern California, Yamanaka took adult skin cells and far closer to the flexibility and durability its single largest venture capital investor, said: “ViaCyte is one stellar example of the used a series of effects on them to strip of human embryonic stem cells. with $26.3 million in four grants since innovation being developed in Southern them of their differentiation so they forget “The cells are not yet up to the embry- 2007. ViaCyte is the biggest corporate California to cure or treat a myriad of they are skin cells and become the base ma- onic stem cells’ performance but they will recipient of CIRM’s money, and is one diseases, such as diabetes. The company’s terial, a stem cell. Then he began trying to get there,” said West of ViaCyte. of just eight for-profit companies that stem cell technology holds promise for mil- introduce combinations of genes into the Marty Graham is a freelance writer for have been awarded any of the $1.9 billion lions of people worldwide, which is why it stem cells to get them to differentiate. the San Diego Business Journal.
Ligand: ¨from page 3 tion four years ago when new management came in. John L. Higgins took over as CEO in 2007, drastically cutting expenses and embracing a new business model that’s centered on acquiring distressed biotechs and partnering with large pharmaceutical companies, such as GlaxoSmithKline plc., Merck & Co. Inc. and Pfizer Inc., that will bear the financial burden of commercial- izing drugs. In November — in a move that Hig- gins said capped the company’s extensive restructuring efforts — Ligand’s board of directors approved a 1-for-6 reverse stock split. “Ligand is focused more than ever on becoming a financial growth company,” Higgins said, in a statement. Ligand’s most recent acquisition of CyDex Pharmaceuticals Inc. “was the first time an acquisition wasn’t a dis- tressed company,” said McKay, noting that CyDex added to Ligand’s business model and rapidly accelerated its finan- cial growth. CyDex generated $16.3 million in rev- enue last year, compared with Ligand’s $23.5 million. Ligand now has more than 60 drug development programs, with therapies addressing Alzheimer’s disease, diabetes, anemia, asthma, rheumatoid arthritis and osteoporosis. 1IPUPDPVSUFTZPG-JHBOE1IBSNBDFVUJDBMT -JHBOE1IBSNBDFVUJDBMT BESVHEJTDPWFSZBOEEFWFMPQNFOUDPNQBOZGPVOEFEJO TBZTJUJTPOUSBDLGPSJUTàSTUQSPàUBCMFZFBS Significant Moment Awaits Of Ligand’s many drugs that have gone to big pharmaceutical companies, there is gains approval from the U.S. Food and “That will be a significant moment. If that muscle-wasting conditions. SARM is on one that is generally regarded as being the Drug Administration for the treatment of data is positive, then suddenly Promacta the verge of being licensed to a company most valuable. That’s Promacta, the first hepatitis C, market potential of the drug becomes a lot more valuable. This event is that can bring it through the FDA ap- oral medication to increase platelet produc- will explode. a big deal to Ligand.” proval process and market it to doctors, tion for people with serious blood disorders. People with hepatitis C, a liver disease, If all goes as expected, annual royalty McKay said. In 2008, Ligand granted GlaxoSmithKline must put their treatment on hold if their revenues from the drug could see a major “There’s a potential huge market for exclusive rights to Promacta in a deal valued platelet level declines past a certain threshold. boost in 2013 to as much as $12 million, SARM,” Cohen said. “With good phase at $163 million plus royalties. Promacta is being tested as a way to boost McKay said. one data, they could potentially do an all- Last year, royalties from the drug the platelet level so therapy can resume. The other program with great poten- out $100 million to $200 million deal with brought in between $2 million and $3 mil- “We have two phase three studies wrap- tial for Ligand’s balance sheet is known a large pharmaceutical company.” lion, and this year that amount is expected ping up in the third quarter, with data as SARM, a drug that increases muscle Kelly Quigley is a freelance writer for the double, McKay said. However, if the drug coming out in December,” McKay said. mass and can be used to treat patients with San Diego Business Journal. Thumbnails SDBJ User Guide Front Page Table of Content
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& PRESENT
5IVSTEBZ +VOF rQN 4IFSBUPO4BO%JFHP)PUFM.BSJOB (SBOE#BMMSPPN -VODIXJMMCFTFSWFE Named after Carl Heilbron, the fi rst president of Rotary Club 33 of San Diego in 1911, The Heilbron Awards are designed to recognize small, medium and large public and private companies that exemplify the pay it forward spirit – that give of themselves and their professional expertise to advance the well being and success of others in the community.
The Heilbron Awards are considered on a company wide basis, not on an individual basis. The purpose of the Heilbron Awards is to celebrate public and private companies that not only exhibit high ethical standards and a commitment to service, but that also have utilized the company’s professional skill set to excel and enrich the company itself and others in the community.
An independent panel of judges will select honorees in the categories of small, medium and large businesses.
/0.*/"5*0/$3*5&3*" DEADLINE EXTENDED TO FRIDAY, APRILPlease 22 keep responses to 200 words or less when responding to each question. • Nominated company name, nominated company president/CEO, mailing • List four professional references and contact information: address, phone number, e-mail address, company website, company - Bank - Accounting Firm industry, year founded, name of founder(s), total number of full-time - Law Firm - Major Vendor/Other employees in the San Diego region • Additional required items: • Nominator name, title, company/organization, mailing address, phone - Nominated company’s bio or description number and e-mail address and company website - Letter of recommendation and/or testimonial • Into which category does the nominated public or private company fall: - Nominated company’s president/CEO photo in jpg format - Small Business (less than 50 employees) (hi-res, 500 KB or larger) - Medium Business (51-250 employees) - Company logo (eps format) - Large Business (more than 250 employees) • Describe a project in which the nominated company utilized its profes- sional knowledge and skill set to provide an individual, organization, or community with support that would not have been available otherwise /0.*/"5*0/%&"%-*/& • Demonstrate how the nominated company’s high ethical standards and '3*%": "13*- Please e-mail nominations to [email protected] commitment to service played a role in the aforementioned project or submit online at www.sdbj.com/bizevents/ • Describe how the nominated company’s support and expertise infl uenced the attitudes and professional outlook of the individual, '03.03&*/'03."5*0/ organization or community involved in the aforementioned project Contact April West at (858) 277-6695 • Please explain what the nominated company has gained from the above mentioned experience
Sponsorships Available
4909 Murphy Canyon Rd., Suite 200, San Diego, CA 92123 | fax 858.277.2149 | www.sdbj.com/bizevents/ Updated 04/07/1 Thumbnails SDBJ User Guide Front Page Table of Content
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4055 CALLE PLATINO 1390 ENGINEER ST. 2555 BIRCH ST.
$BMMF1MBUJOP &OHJOFFS4U #JSDI4U 0DFBOTJEF $" 7JTUB $" 7JTUB $" #VZFS4PVUIXFTU(SFFOF*OUFSOBUJPOBM*OD #VZFS1SFTFSWFE5SFFTDBQFT*OUFSOBUJPOBM #VZFS#SVDF1BUSJDJB#BSUMFUU 4FMMFS-#"3FBMUZ 4FMMFS-PZE)8FMMT 4FMMFS(FPSHF%FCSB.BZOBSE 4BMFQSJDF 4BMFQSJDF 4BMFQSJDF #VJMEJOHTRVBSFGPPUBHF #VJMEJOHTRVBSFGPPUBHF #VJMEJOHTRVBSFGPPUBHF 1SJDFQFSTRVBSFGPPU 1SJDFQFSTRVBSFGPPU 1SJDFQFSTRVBSFGPPU :FBSCVJMU :FBSCVJMU :FBSCVJMUOB #VZFSCSPLFSBHFOU#PC8JMMJOHIBN #VZFSCSPLFSBHFOUOB #VZFSCSPLFSBHFOU.JLF&SXJO $PMEXFMM#BOLFS$PNNFSDJBM/$1 -JTUJOHCSPLFSBHFOU.JLF&SXJO $BTTJEZ5VSMFZ#3&$PNNFSDJBM -JTUJOHCSPLFSBHFOU3PCFSU(VOOFTT $#3JDIBSE&MMJT $BTTJEZ5VSMFZ#3&$PNNFSDJBM -JTUJOHCSPLFSBHFOU%POBME(SBOU %FOOJT7JTTFS 4BMFEBUF 4BMFEBUF $BTTJEZ5VSMFZ#3&$PNNFSDJBM 4BMFEBUF 4 5 6
OCEANSIDE MEDICAL CENTER 12169 KIRKHAM ROAD 2704 GATEWAY ROAD
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
3960 HOME AVE. 221 W. 33RD ST. 6124 INNOVATION WAY, UNIT L2
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na Not available NA Not applicable Thumbnails SDBJ User Guide Front Page Table of Content
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Projects, developments and other activity in cities in and REAL ESTATE ROUNDUP around San Diego County Compiled by Daina Yousif
1IPUPDPVSUFTZPG$BTTJEZ5VSMFZ#3&$PNNFSDJBM 5XP4PSSFOUP7BMMFZPGàDFDPOEPNJOJVNTIBWFCFFOTPMEUPUIF%FM.BS6OJPO4DIPPM%JTUSJDUGPSNJMMJPO5IFVOJUTBSFJOUIF7FOUVSF4PSSFOUP0GàDF1BSL Construction Starts on fice Park total 6,204 square feet and were sold to the Del Mar Union School District White Labs’ Facility for use by its facilities department. San Diego-based design firmSmith Venture Sorrento Office Park, formerly Consulting Architects has completed docu- Venture Commerce Center, is located at ments and construction has begun for the 11189-11199 Sorrento Valley Road. The new 12,035-square-foot office and research property offers small businesses the op- and development facilities of White Labs portunity to own their office in the heart Inc. within the Mark II Business Park, of San Diego’s financial, legal, medical, located at 9495 Candida St. in the Mira high-tech and life sciences submarkets, Mesa area of San Diego. known as Del Mar Heights/Carmel Valley, White Labs has been involved in the Torrey Pines, Sorrento Mesa and Uni- American and worldwide craft brewing versity Towne Center. Venture Sorrento movement since the early ’80s. With offices Office Park is easily accessible from both in California and Colorado, the company Interstate 5 and I-805 and is located across provides a wealth of pure yeast and fer- the street from the Sorrento station for the mentation services not only for brewers, Coaster commuter train. but also for winemakers, distillers and Venture Sorrento Office Park is owned various fermentation businesses. White by PV Venture Sorrento LLC, a subsidiary 1IPUPDPVSUFTZPG$BTTJEZ5VSMFZ#3&$PNNFSDJBM Labs is moving to the larger facility from of PacVentures Inc., a commercial real 0DDVQBODZBU5IF$BNQVTDPNQMFYIBTJODSFBTFEUPQFSDFOUTJODF/FXQPSU/BUJPOBM$PSQ its existing location in the Miramar area. estate investment and development com- QVSDIBTFEUIF$BSMTCBEQSPQFSUZJO+BOVBSZ The tenant improvement project in- pany based in San Diego that focuses on volves the creation of 5,000 square feet acquisition and development of properties adjacent to McClellan-Palomar Airport. stainless steel partitions, high-efficiency of clean area for production, along with in the Southwestern United States. The The project totals approximately 163,070 lighting, new plumbing fixtures, tile on the microbiology- analytical- and bacteria-lab firm currently has projects in California, square feet in three buildings. The build- floors and in the showers, wall coverings environments. The facility will also house Arizona, Texas, Colorado, Utah and ing located at 5962 La Place Court is and fresh paint. The courtyard has been offices, training/classroom space, cold stor- Oklahoma. For more information, visit a two-story multitenant office building transformed into an Asian Fusion inspired age, a distribution area, and tasting room. pacventures.net containing 23 new spec suites available botanical garden complete with two rake Construction commenced in mid-March, Phillip Linton of Cassidy Turley BRE for lease ranging in size from 742 to 4,642 gardens, tropical plants from around the with completion targeted for mid-June. Commercial is the listing broker for the square feet and totaling 46,895 square feet. world, multiple koi ponds and waterfalls, Chris and Lisa White of White Labs are project. The buyer was represented by The additional two buildings at 5964 and lunch tables with shade, and an exterior providing project oversight. Chuck Wasker of Colliers International and 5966 La Place Court total approximately kitchen/barbecue area. The lush common Mark Langan is vice-president-in- Mark Kagan of Tenant Rep Real Estate. 116,175 square feet and are partially leased areas are served by the on-site Campus charge for Smith Consulting Architects, There are 14 units at Venture Sor- to office, R&D and life sciences tenants. Deli providing convenient food service for with Brian Drache as project architect. rento Office Park, 10 of which have been Additional premises are available for lease tenants and neighboring businesses. Jim Serbia and William Camacho of purchased. Available units range in size ranging in size from 19,544 to 42,707 “The Campus is positioned as the new Serbia Consulting Group are providing from 1,767 to 6,051 square feet and can square feet. go-to location for tenants in Carlsbad project management services. Todd Davis be finished as either Class A offices or Newport National Corp. purchased the looking for an affordable option with Class of Cassidy Turley BRE Commercial repre- modern life science labs. All of the units property in January 2010 and has since in- A finishes and a unique environment,” said sented the lessee. are on the ground floor, have individual creased the total occupancy of the project Justin Halenza of Cassidy Turley BRE Good & Roberts is the general contrac- entrances and building signage rights, and to 74 percent with recent leases signed by Commercial, who is part of the exclusive tor, with Berg Electric and Pacific Rim look out over the adjacent Los Penasquitos GenMark Diagnostics Inc.; Colorati Inc.; leasing team for The Campus, along with Mechanical as the design/build electrical, Canyon Preserve. For more information, Meissner Jacquet Investment Management Josh Bernstein, Dennis Visser and Aric plumbing and mechanical team. visit VentureSorrento.com. Services; and Millennium Trust Co. LLC. Starck. “The increased occupancy during Upon purchasing The Campus, New- this new ownership and renovation process Two Office Condos Sold for Leasing Level Steps Up port National Corp. executed significant proves that there is new activity among ten- building and site renovations. At 5962 ants in the area. Newport National Corp. is $1.3M in Sorrento Valley At Renovated Complex La Place Court, renovations include continually working to create amenity-rich Cassidy Turley BRE Commercial an- Cassidy Turley BRE Commercial re- remodeling of all of the vacant suites, projects featuring excellent architecture nounced that it facilitated the sale of two cently announced that Newport National common area corridors and lobbies with with state-of-the-art features related to office condominiums at Venture Sorrento Corp.’s The Campus development is now new walls, doors, high-efficiency lighting, efficiency and green technology to attract Office Park in Sorrento Valley for $1.3 74 percent leased. digitally controlled heating, ventilation and retain high-quality tenants.” million. Located at 5962, 5964 and 5966 La Place and air conditioning, ceiling tiles, carpet For more information about leasing op- Located at 11189 Sorrento Valley Road, Court, The Campus is situated within the tiles and fresh paint. First- and second- portunities at The Campus, please contact units 104 and 105 in Venture Sorrento Of- prestigious Carlsbad Research Center and floor restrooms feature stone countertops, Halenza at 760-431-4200. Thumbnails SDBJ User Guide Front Page Table of Content
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4%#+MARKETPLACE 5PQMBDFBOBE DPOUBDU.BMMPSZ#VMMBSEBU EMPLOYMENT OPPORTUNITIES INVESTMENT PROPERTY
Director of Marketing San Diego County’s largest physician-owned diagnostic outpatient provider is looking for a candidate who understands the unique aspects of the San Diego Health Market and preferably Radiology, to drive demand for our comprehensive imaging services. The ideal candidate must demonstrate their ability to foster our talented sales team, build relationships with our referral base and advise management on new strategies and opportunities.
Please fax resume with salary history to (619) 342-2135 or email to [email protected].
COMMERCIAL LEASING Electrical Engineer, Sr. Perform CDMA and GSM analysis, lead prod. dev. & FOR LEASE design, various EE tasks. SAN DIEGO-CA. Mammoth Lakes, CA Mail Resume- Telecommunications Retail & Restaurant Space Consulting, Inc., 10669 Amberglades Ln, 800-8000 sq. feet San Diego, CA 92130
Matthew Lehman 760-822-5845 LITIGATION ASSOCIATE http://www.trademarkmammoth.com Butz Dunn & DeSantis, an established litigation firm special- izing in complex litigation seeks an associate with 3-5 yrs PUBLIC NOTICE exp. for its San Diego office. Qualified candidates must pos- sess excellent writing skills for considerable motion practice in complex matters and outstanding academic credentials from a superior ABA accredited law school. Courtroom and City of San Diego deposition exp. preferred. Draft FY 2012 Annual Action Plan Email resume to [email protected]. Under Title 1 of the Housing and Community Develop- ment Act of 1974, as amended, the City of San Diego invites citizens to participate in the preparation of the FY 2012 Annual Action Plan (AAP). The AAP is the yearly EMPLOYMENT OPORTUNITY REQUEST FOR BIDS update to the Five-Year Consolidated Plan and consists of the activities to be funded through the Community Development Block Grant (CDBG), Emergency Shelter Grant (ESG), HOME Investment Partnerships (HOME), and Sub-Bids Requested for any portion of work from qualified Housing Opportunities for Persons with AIDS (HOPWA). European based marketing research SLBE/ELBE/MBE/WBE/DBE/DVBE/OBE consultancy seeks a San Diego based Subcontractors & Suppliers for: NOTICE IS HEREBY GIVEN that the City of San Diego’s market research executive to complement Draft FY 2012 AAP is available for a 30-day public review our team via a “Satellite position”. MISSION APARTMENTS from April 4 through May 5, 2011. The purpose of the review is to provide the public with an opportunity to O 3+ years of market research experience PROJECT DESCRIPTION: comment on the planned expenditures of approximately (primary & qualitative) enabling candidate to 85 units of affordable family housing. Construction $29 million in federal entitlement funds. The draft docu- Consult clients/ global marketing teams ment will be available in the reference section of all City [ anticipated starting at the beginning of May 2011. [ Independently designs research proposals and of San Diego libraries and at the CDBG Program office market research studies Bidding: April 2011. located at 1200 Third Avenue, Suite 1400, San Diego, CA [ Analyze, interprete market research and This is a PREVAILING WAGE project. 92101. The plan will also be available for review on the formulate and present results City’s CDBG Program website (www.sandiego.gov/cdbg/ [ Willing to moderate focus group or IDIs FOR ACCESS TO PLANS & general/) and the Housing Commission’s website (www.sdhc.org.). occasionally (incl. travel) SPECIFICATIONS: Experience in life sciences, healthcare, O Fax or email your company name, trade, and contact NOTICE IS ALSO HEREBY GIVEN that the public hearing pharmaceutical and biotech industry strongly preferred information to 818-706-3050 to present the Draft FY 2012 AAP at a Public Safety & Please contact: Christiane Perleberg, perleberg@aol. or [email protected]. Neighborhood Services (PS&NS) Committee is sched- com (incl. CV and salary expectation-can be independent Please make sure to reference “Mission Apartments” at uled for Wednesday, April 13, 2011 at 2:00 pm in the contractor agreement) www.ppp-health-research.com City Council Chambers, 202 C Street, 12th Floor, San the top of your fax or in the subject line of your email. Diego, CA 92101. A schedule of community meetings in which the draft AAP will be presented is listed on the City’s CDBG Program website. Public comment may be provided at the community meetings and public hearing. In addition, comments can be submitted in writing during AMCAL General Contractors, Inc. the 30-day public review to the CDBG Program office 30141 Agoura Road, Suite 100 in person/mail (1200 Third Ave, Ste 1400, San Diego, Agoura Hills, CA 91301 CA 92101), or by e-mail ([email protected]) through May 5, 2011. All information and updates regarding 818-706-0694 Office, 818-706-3050 Fax this process will be posted on the City’s CDBG website 5PQMBDFBOBEJOUIF Equal Opportunity Employer (http://www.sandiego.gov/cdbg/general/).
#VTJOFTT.BSLFUQMBDF AMCAL General Contractors, Inc. can assist To order information in an alternative format, or to arrange for a sign language or oral interpreter for the DPOUBDU.BMMPSZ#VMMBSEBU subcontractors with bonds (if required), credit lines, PS&NS Committee meeting, please call the City Clerk’s insurance, equipment, supplies, materials, or provide office at least five (5) working days prior to the meeting related assistance if necessary. at (619) 533-4000 (voice) or (619) 236-7012 (TDD/TTY). Thumbnails SDBJ User Guide Front Page Table of Content
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1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"- "QSJM MARKETPLACE San Diego Public Stocks
TICKER PRICE PRICE NET PERCENT 52-WEEK 52-WEEK SHARES MARKET EXCHANGE COMPANY NAME INDEX WATCH SYMBOL 04/05/2011 03/29/2011 CHANGE CHANGE HIGH LOW OUTSTANDING CAPITALIZATION Index 4/5/11 3/29/11 Net Change %Change NASD ACAD ACADIA PHARMACEUTICALS INC. 1.63 1.65 -0.02 -1.21% 2.00 0.65 51920 84629.6 NASD ACCL ACCELRYS INC. 8.00 7.81 0.19 2.43% 8.95 5.96 46440 371520 San Diego Business Journal Index 1857.98 1859.80 -1.82 -0.10% AMEX ANX ADVENTRX PHARMACEUTICALS INC. 2.11 2.02 0.09 4.46% 7.25 1.50 23660 49922.6 Dow Jones Industrial Average 12393.90 12279.01 114.89 0.94% NASD ATEC ALPHATECH HOLDINGS INC. 2.93 2.63 0.30 11.41% 7.62 1.85 88750 260037.5 S&P 500 Index 1332.63 1319.44 13.19 1.00% NYSE AAT AMERICAN ASSETS TRUST INC. 21.75 21.27 0.48 2.26% 22.00 20.45 35030 761902.5 NASDAQ Composite 2791.19 2756.89 34.30 1.24% NYSE AHS AMN HEALTHCARE SERVICES INC. 8.53 8.26 0.27 3.27% 10.00 4.14 39190 334290.7 NASD AMLN AMYLIN PHARMACEUTICALS INC. 11.20 10.75 0.45 4.19% 24.21 9.51 144430 1617616 NASD ANDS ANADYS PHARMACEUTICALS INC. 1.27 1.16 0.11 9.48% 3.24 0.90 57140 72567.8 MARKET TRENDS NASD APRI APRICUS BIOSCIENCES INC. 4.52 4.55 -0.03 -0.66% 9.30 1.60 19450 87914 NASD ARNA ARENA PHARMACEUTICALS INC. 1.33 1.44 -0.11 -7.64% 8.00 1.26 121520 161621.6 Date SDBJ S&P 500 NASDAQ DJI NASD BOFI B OF I HOLDING INC. 15.62 15.45 0.17 1.10% 19.27 10.80 10240 159948.8 4/5/2011 1857.98 1332.63 2791.19 12393.90 NYSE BMR BIOMED REALTY TRUST INC. 18.96 18.67 0.29 1.55% 19.50 14.79 131290 2489258.4 3/29/2011 1859.80 1319.44 2756.89 12279.01 NYSE BPI BRIDGEPOINT EDUCATION INC. 16.96 17.07 -0.11 -0.64% 27.50 12.75 53120 900915.2 NASD CADX CADENCE PHARMACEUTICALS INC. 9.49 9.04 0.45 4.98% 10.63 6.29 63150 599293.5 3/22/2011 1815.26 1293.77 2683.87 12018.63 NYSE ELY CALLAWAY GOLF CO. 7.12 6.84 0.28 4.09% 10.19 5.80 64120 456534.4 3/15/2011 1818.30 1281.87 2667.33 11855.42 AMEX CXM CARDIUM THERAPEUTICS INC. 0.36 0.37 -0.01 -2.70% 0.72 0.30 78570 28285.2 3/8/2011 1910.62 1321.82 2765.77 12214.38 NYSE CFN CAREFUSION CORP. 27.97 28.08 -0.11 -0.39% 30.08 20.63 223000 6237310 3/1/2011 1917.82 1322.75 2737.41 12058.02 NASD COHU COHU INC. 15.44 15.15 0.29 1.91% 17.35 11.16 24000 370560 2/22/2011 1940.91 1315.44 2756.42 12212.79 AMEX CUB CUBIC CORP. 57.03 56.23 0.80 1.42% 58.33 33.22 26740 1524982.2 2/15/2011 1935.22 1328.01 2804.35 12226.64 NASD CYMI CYMER INC. 57.38 55.38 2.00 3.61% 57.60 28.31 30150 1730007 NASD DXCM DEXCOM INC. 16.36 15.61 0.75 4.80% 16.53 8.92 62210 1017755.6 NASD DRAD DIGIRAD CORP. 2.40 2.53 -0.13 -5.14% 3.21 1.71 18600 44640 NASD HILL DOT HILL SYSTEMS CORP. 2.72 2.80 -0.08 -2.86% 3.86 1.01 56330 153217.6 TOP GAINERS & LOSERS NASD ECPG ENCORE CAPITAL GROUP INC. 25.21 23.93 1.28 5.35% 27.67 16.58 24020 605544.2 NASD ENTR ENTROPIC COMMUNICATIONS INC. 7.94 8.30 -0.36 -4.34% 13.96 4.31 85320 677440.8 Top Dollar Gainers NYSE EXL EXCEL TRUST INC. 11.78 11.65 0.13 1.12% 13.72 10.77 15660 184474.8 NASD FPTB FIRST PACTRUST BANCORP INC. 16.00 16.06 -0.06 -0.37% 16.68 6.80 9690 155040 Gen-Probe Inc. 2.13 NASD GPRO GEN-PROBE INC. 67.07 64.94 2.13 3.28% 67.16 42.00 48280 3238139.6 Cymer Inc. 2.00 NASD HALO HALOZYME THERAPEUTICS 7.03 6.68 0.35 5.24% 9.11 5.79 101390 712771.7 PriceSmart Inc. 1.80 NASD ILMN ILLUMINA INC. 69.03 67.86 1.17 1.72% 74.12 36.70 127630 8810298.9 NASD IFON INFOSONICS CORP. 0.92 0.96 -0.04 -4.17% 3.07 0.81 14180 13045.6 Life Technologies Corp. 1.52 AMEX INO INOVIO BIOMEDICAL CORP. 1.16 1.14 0.02 1.75% 1.56 0.76 127250 147610 Optimer Pharmaceuticals Inc. 1.49 NASD ISIS ISIS PHARMACEUTICALS INC. 9.12 8.80 0.32 3.64% 11.24 7.59 99580 908169.6 NASD JACK JACK IN THE BOX INC. 22.53 22.66 -0.13 -0.57% 26.37 18.42 50760 1143622.8 NASD KTOS KRATOS DEFENSE & SECURITY SOLUTIONS INC. 13.93 14.01 -0.08 -0.57% 15.56 9.36 23680 329862.4 Top Percentage Gainers NASD LEAP LEAP WIRELESS INTERNATIONAL INC. 15.69 15.65 0.04 0.26% 19.11 9.51 78650 1234018.5 Mad Catz Interactive Inc. 32.39% NASD LIFE LIFE TECHNOLOGIES CORP. 52.78 51.26 1.52 2.97% 57.25 41.10 180000 9500400 NASD LGND LIGAND PHARMACEUTICALS INC. 9.97 10.00 -0.03 -0.30% 14.80 8.14 19620 195611.4 Overland Storage Inc. 23.26% NASD LRAD LRAD CORP. 2.79 2.58 0.21 8.14% 3.10 0.71 30690 305979.3 Optimer Pharmaceuticals Inc. 12.10% NYSE MCZ MAD CATZ INTERACTIVE INC. 2.33 1.76 0.57 32.39% 2.39 0.34 55720 155458.8 NYSE MXL MAXLINEAR INC. 8.26 7.77 0.49 6.31% 18.36 7.32 31930 74396.9 Alphatech Holdings Inc. 11.41% NASD MXWL MAXWELL TECHNOLOGIES INC. 17.54 16.80 0.74 4.40% 19.65 10.16 27090 223763.4 NTN Buzztime Inc. 11.36% NASD MNOV MEDICINOVA INC. 2.29 2.68 -0.39 -14.55% 7.51 2.33 12440 28487.6 NASD MITI MICROMET INC. 5.28 5.40 -0.12 -2.22% 8.63 4.75 91200 481536 NASD NAII NATURAL ALTERNATIVES INTERNATIONAL INC. 5.54 5.52 0.02 0.43% 8.23 4.85 7120 39473.28 Top Dollar Losers NASD NBIX NEUROCRINE BIOSCIENCES INC. 8.02 7.23 0.79 10.93% 9.30 2.30 54890 440217.8 NASD NVTL NOVATEL WIRELESS INC. 5.11 5.49 -0.38 -6.92% 11.53 5.00 32030 163673.3 Qualcomm Inc. -1.33 AMEX NTN NTN BUZZTIME INC. 0.49 0.44 0.05 11.36% 0.74 0.31 60230 29512.7 NASD NUVA NUVASIVE INC. 25.50 25.52 -0.02 -0.08% 45.51 22.11 39630 1010565 ViaSat Inc. -0.43 NASD OPTR OPTIMER PHARMACEUTICALS INC. 13.80 12.31 1.49 12.10% 13.99 7.68 46180 637284 Medicinova Inc. -0.39 NASD OREX OREXIGEN THERAPEUTICS INC. 3.09 2.80 0.29 10.36% 11.15 2.47 47900 148011 NASD OVRL OVERLAND STORAGE INC. 2.65 2.15 0.50 23.26% 3.52 1.13 14330 37974.5 Novatel Wireless Inc. -0.38 NASD PACW PACWEST BANCORP 21.95 20.99 0.96 4.57% 24.98 16.56 35460 778347 Entropic Communications Inc. -0.36 NASD PICO PICO HOLDINGS INC. 29.85 29.06 0.79 2.72% 39.49 27.18 22700 677595 NASD PSMT PRICESMART INC. 37.54 35.74 1.80 5.04% 40.53 15.00 29900 1122446 NASD PURE PURE BIOSCIENCE 1.60 1.49 0.11 7.38% 3.74 1.43 37300 59680 Top Percentage Losers NASD QCOM QUALCOMM INC. 52.58 53.91 -1.33 -2.47% 59.84 31.63 1640000 86231200 NASD QDEL QUIDEL CORP. 11.94 12.06 -0.12 -1.00% 15.46 10.48 33140 395691.6 Medicinova Inc. -14.55% NYSE O REALTY INCOME CORP. 35.00 34.77 0.23 0.66% 36.12 28.42 118200 1411308 Arena Pharmaceuticals Inc. -7.64% NYSE RMD RESMED INC. 30.03 30.09 -0.06 -0.20% 35.90 29.24 1530000 53550000 NASD RFIL RF INDUSTRIES LTD. 3.90 4.10 -0.20 -4.88% 4.47 2.41 6020 23478 Novatel Wireless Inc. -6.92% NASD ROYL ROYALE ENERGY INC. 5.07 5.14 -0.07 -1.36% 7.90 1.76 10270 52068.9 Trius Therapeutics Inc. -5.75% NASD SNTS SANTARUS INC. 3.42 3.34 0.08 2.40% 5.67 2.09 60220 205952.4 NYSE SRE SEMPRA ENERGY 53.74 52.77 0.97 1.84% 54.45 43.91 239660 12879328.4 Digirad Corp. -5.14% NASD SNMX SENOMYX INC. 6.37 6.25 0.12 1.92% 7.92 3.14 39550 251933.5 NASD SQNM SEQUENOM INC. 6.63 6.23 0.40 6.42% 8.20 4.69 98970 656171.1 Market Recap NYSE SLH SOLERA HOLDINGS INC. 51.70 50.99 0.71 1.39% 54.80 32.43 70450 3642265 NASD TSRX TRIUS THERAPEUTICS INC. 5.25 5.57 -0.32 -5.75% 7.49 2.93 23660 124215 Advancers 47 NASD VSAT VIASAT INC. 39.01 39.44 -0.43 -1.09% 46.00 30.60 41600 1622816 NASD VICL VICAL INC. 2.91 2.73 0.18 6.59% 4.05 1.70 71700 208647 Decliners 25 NASD WDFC WD-40 CO. 42.95 41.90 1.05 2.51% 43.09 30.11 17070 733156.5 NASD WBSN WEBSENSE INC. 23.03 22.75 0.28 1.23% 27.96 17.03 40620 935478.6
Note: Shares outstanding and market capitalization are listed in thousands. Source: Trade Trends Inc. 303-665-5881 Thumbnails SDBJ User Guide Front Page Table of Content
"QSJM 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF
EXECUTIVE PROFILE Jeff Graham
Jeff Graham is the vice president rently there are seven). of redevelopment of the Centre City Number of employees: 46 (43 regular, RESUME Development Corp., the public nonprofit three interns). Name: Jeff Graham. corporation acting on behalf of the City Number of volunteers: 34. Organization: Centre City of San Diego Redevelopment Agency OFFICE ISSUES Development Corp. to implement redevelopment in down- Title: Vice president, redevelopment. town San Diego. CCDC’s achievements Recent challenge: Governor Brown’s Web site: www.ccdc.com. include Horton Plaza, Petco Park, the proposal to eliminate all of the state’s Education: MBA — International Historic Gaslamp Quarter and the at- redevelopment agencies. Business, San Diego State Uni- traction of more than 35,000 downtown Measures of success: Downtown versity; BA — Economics and residents, expected to grow to 90,000 by employment growth, private investment, Political Science, University of year 2030. revenue growth to city, improvements in Pittsburgh. quality of life. ORGANIZATION Birthplace: Pittsburgh, Pa. Smartest move: Joining the staff at Age: 48. Mission of organization: Redevelop- CCDC. Current residence: Bankers Hill. ment and economic development of Misconception: That public redevelop- downtown San Diego. ment funds are used to subsidize market- Year founded: 1975. rate private development in downtown. Milestone: Adopted new Downtown highly skilled and passionate staff at Community Plan guiding growth PROFESSIONAL INSIGHTS CCDC. through 2030. Toughest aspect: Conveying the strong Best recent moment: City Council ap- Dream for another life: A life without Annual revenue: $120 million. relationship between a vibrant and suc- proval of funding for the first phase of politics. Administrative expense as percent of cessful downtown and the success of the the North Embarcadero Visionary Plan. Causes: Urban Land Institute, vari- revenue: 6.7 percent. entire San Diego region. Worst recent moment: Learning of the ous homeless charities, various arts and Board Chair: Kim John Kilkenny. Biggest pain: Volume of meetings. governor’s proposal to eliminate redevel- cultural nonprofits. Number of board members: Nine (cur- Greatest pleasure: Working with the opment agencies. 4UFWF"EBNFL
Michael de Jesus ...... 13 Fred Holmstrom ...... 4 Eugene Mitchell ...... 15 Oli Steindorsson ...... 6 Steve Doyle ...... 17 Greg Hulsizer ...... 10 Marilyn Monroe ...... 27 Patricia Strauss ...... 26 INDEX Brian Drache ...... 31 Kasey Ignarski ...... 3 Rick Moreno ...... 6 Nat L. Eggert ...... 25 Irwin Jacobs ...... 15 David Morse ...... 5 Colton Sudberry ...... 26 5IFTFJOEFYFTMJTUUIFQFPQMF CVTJOFTTFT BTTPDJBUJPOT PSHBOJ[B Laura Farmer Sherman ...... 38 Clayton Jacobsen II ...... 27 Daniel Nepela ...... 4 Christopher Thornberg ...... 13 UJPOT FUD UIBUBSFOBNFEJOUIJTXFFLTJTTVF5IFOVNCFSTSFGFSUP David Felker ...... 4 Robert Jensen ...... 8 Ted Owen ...... 15 Tom Tullie ...... 8 Joseph Panetta ...... 27, 28 Art Fillmore ...... 25 Karl Petur Jonsson ...... 6 John Turner ...... 10 UIFQBHFPOXIJDIUIFOBNFJTGPVOE Carrie Fisher ...... 25 Mark Kagan ...... 31 Bob Payne ...... 26 Jeff Frank ...... 15 Daniel Khabie ...... 1 Alan Reay ...... 13 Norv Turner ...... 3 John Gaede ...... 6 Kim John Kilkenny ...... 37 Claire Reiss ...... 27 Dennis Visser ...... 31 PEOPLE Ron Casten ...... 25 Gavin Gibbons ...... 6 John King ...... 13 Robert Reiss ...... 27 Robert Voit ...... 13 John Cihomsky ...... 26 Theodore Gildred ...... 26 Tony Kopas ...... 38 Allison Rolfe ...... 26 George Washington ...... 19 Sam Acunia ...... 8 Bill Clinton ...... 15 Tom Gildred ...... 1 Chris Kuykendall ...... 15 Steve Rosetta ...... 10 Guy Asaro ...... 19 Jeffrey S. Cohen ...... 3 Scott Goryl ...... 27 Andy La Dow ...... 10 Duane Roth ...... 27 Chuck Wasker ...... 31 Paul Barnes ...... 18, 19 Don Coryell ...... 3 Mary Gotaas ...... 5 Mark Langan ...... 31 Ivor Royston ...... 27 John S. West ...... 28 Josh Bernstein ...... 31 Stephen Coutts ...... 1 Jeff Graham ...... 37 Bob Latiano ...... 15 Ralph Rubio ...... 1 Chris White ...... 31 Mark Bowles ...... 8 Marney Cox ...... 10 David F. Hale ...... 1 Dan Leavy ...... 26 Boris Said ...... 15 Lisa White ...... 31 Barry Brown ...... 27 Bob Crabtree ...... 15 Justin Halenza ...... 31 Mindy Lewis ...... 3 Jerry Sanders ...... 3, 8, 38 Jerry Brown ...... 8, 37 Ken Cruse ...... 13 Russ Haley ...... 18 Phillip Linton ...... 31 Jerry Selby ...... 26 Carson Wiener ...... 25 Eric Burton ...... 38 Steve Cushman ...... 15 Sherm Harmer ...... 18 Gary H. London ...... 39 Jim Serbia ...... 31 Shinya Yamanaka ...... 3, 28 Angelo Damante ...... 15 Russ Havens ...... 3 Gary Buxton ...... 5 James Masias ...... 6 Jim Silverwood ...... 17, 19 Charlet Yoo ...... 13 William Camacho ...... 31 Dick Daniels ...... 1 Randy Hawks ...... 8 Gary McIntire ...... 25 Renata Simril ...... 10 Reid Carr ...... 27 Bill Davidson ...... 19 Victor Heredia ...... 26 Rob McKay ...... 3 Kevin Snyder ...... 4 Tom Yoo ...... 13 Robert A. Caro ...... 19 Todd Davis ...... 31 John L. Higgins ...... 28 Mike McNerney ...... 10, 21 Aric Starck ...... 31 Chris Zapata ...... 5
ORGANIZATIONS Cindy Gompper-Graves ...... 8, 10 General Atomics Electronic Systems ....3 Massachusetts Institute of S Tierra Data Inc...... 25 CineForm Inc...... 25 General Motors ...... 15 Technology ...... 27 Safeway Inc...... 5 TK&A Custom Catering ...... 38 CityMark Development ...... 18 GenMark Diagnostics Inc...... 31 McDonald’s ...... 1 SAFIR ...... 38 A Tokyo Electric Power Co...... 3 City of Carlsbad ...... 15 GlaxoSmithKline plc...... 28 McMillin Homes ...... 19 Salk Institute for Biological Studies ...28 Access Destination Services ...... 38 Trilantic Capital Partners ...... 26 City of Imperial Beach ...... 1 Golf Laboratories Inc...... 4 Meissner Jacquet Investment Sam and Rose Stein Education Center38 Accion San Diego ...... 3 City of San Diego Redevelopment Goodrich Corp...... 8 Management Services ...... 31 San Diego Association of Governments . U Aero-X Golf Inc...... 4 Agency ...... 37 Goodwill Industries ...... 38 Mercedes-Benz of Escondido ...... 15 10, 13 U.S. Air Force ...... 3 Affirmed Housing Group ...... 17, 19 Claremont Creek Ventures...... 8 Merck & Co. Inc...... 28 San Diego Business Journal ...... 27 U.S. Bankruptcy Court ...... 10 America’s Second Harvest ...... 15 H Coinstar Inc...... 8 Merlin Entertainments Group ...... 15, 25 San Diego City Council ...... 37 American Heart Association ...... 38 Hale BioPharma Ventures LLC ...... 27 U.S. Census Bureau ...... 5 Colliers International ...... 31 Micromet Inc...... 27 San Diego County Credit Union ...... 38 AMN Healthcare ...... 38 Helix Water District ...... 25 U.S. Department of Defense ...... 3 Colorati Inc...... 31 Millennium Trust Co. LLC ...... 31 San Diego East County Chamber of Angelica Corp...... 26 Hendrick Automotive Group ...... 15 U.S. Food and Drug Administration ...28 Comic-Con International ...... 27 Mill Road Capital ...... 27 Commerce...... 38 Arciero Bros. Construction ...... 21 Hilton Carlsbad Oceanfront U.S. Green Building Council ...... 21 Comvenient GmbH ...... 15 San Diego Food Bank ...... 15 Astro Energy Group ...... 6 Resort & Spa ...... 26 N Connect ...... 27 San Diego Gas & Electric Co...... 21 U.S. Marine Corps ...... 15, 38 Atlantis Group ...... 6 Hilton San Diego Bayfront ...... 13 NASCAR ...... 15 Consumer Electronics Association ...... 8 San Diego State Aztecs ...... 3 U.S. Navy ...... 25 Atlas Hospitality Group ...... 13, 26 Honeywell International Inc...... 6 Nassco/General Dynamics Corp...... 8 County Board of Supervisors ...... 21 San Diego State University .4, 19, 26, 37 U.S. Patent and Trademark...... 8 Audrey S. Geisel/Dr. Seuss Fund ...... 38 Host Hotels & Resorts Inc...... 13 National Fisheries Institute ...... 6 County of San Diego Department of Scripps Mercy Medical Group ...... 1 UC San Diego ...... 15 Hotel del Coronado ...... 13, 27 National Science Foundation ...... 8 B General Services ...... 21 SeaWorld Parks & Entertainment ...... 27 Howard Wright Construction ...... 21 Naval Facilities Engineering Command UC San Diego Health System ...... 1 Baja Aqua Farms ...... 6 Craft Labor & Support Services LLC ....8 Sempra Energy ...... 15 Hyatt Regency La Jolla at Aventine ....38 Southwest ...... 25 Umami Sustainable Seafood ...... 6 Balboa Park Golf Course ...... 4 Cushman & Wakefield ...... 10 Serbia Consulting Group ...... 31 Hybritech Inc...... 27 Neighborhood House Association ...... 15 Union Bank ...... 38 Beacon Economics ...... 13 CyDex Pharmaceuticals Inc...... 28 Sharp Health Care ...... 1 I New American Dimensions ...... 5 University California San Diego ...... 19 Berg Electric ...... 31 D Shea Homes San Diego ...... 18, 19 IbisWorld Inc...... 5 Newport National Corp...... 31 University of Pittsburgh ...... 37 Biocept ...... 1 D&K Engineering Inc...... 8 Shea Properties ...... 5 IBM Corp...... 6 North County Times ...... 15 University of San Diego ...... 38 Biocom ...... 27, 28 D.R. Horton Inc...... 18 Silicon Valley Bank ...... 8 Independent Futures ...... 38 Northgate Gonzalez Markets ...... 5 Black Horse Farms ...... 19 Davidson Communities ...... 19 Skype ...... 39 Urban Housing Partners Inc...... 18 Inn at Morro Bay ...... 13 Northrop Grumman ...... 3 Blockbuster ...... 39 DC Shoes Inc...... 38 Smith Consulting Architects ...... 31 Urban Land Institute ...... 37 Internal Revenue Service ...... 10 NxGen Electronics ...... 25 BMW ...... 15 DD Studio ...... 8 South Bay Expressway L.P...... 10 US Golf Association ...... 4 Bodega Latina Corp...... 5 J O South County Economic Development Del Mar Union School District ...... 31 V Borders ...... 39 Dick Daniels Public Relations ...... 1 J.D. Power and Associates ...... 19 Optimer Pharmaceuticals Inc...... 15 Council ...... 8, 10 Vallarta Supermarkets Inc...... 5 Borrego Solar Systems Inc...... 25 Digitaria Interactive Inc...... 1 Jensen Meat Inc...... 8 P St. Madeleine’s Sophie Center ...... 38 Verimatrix Inc...... 15 Boys & Girls Clubs of America ...... 3 Don Allen ParentCare Family Recovery Jones Lang LaSalle ...... 10 Pacifica Companies ...... 1 Standard Pacific Homes ...... 18 Brookfield Homes ...... 17 Center ...... 38 JPMorgan Chase & Co...... 15 Pacifica Host Hotels ...... 1, 13 Sudberry Properties ...... 26 ViroPharma Inc...... 15 Bumble Bee Foods LLC ...... 27 Downtown Residential and Marketing Junior Seau Foundation ...... 38 Pacific Rim Mechanical ...... 31 Suffolk-Roel ...... 38 Vista Hill Foundation ...... 38 Buxton Corp...... 5 Sunstone Hotel Investors ...... 13 Builders Alliance ...... 18 K PacVentures Inc...... 31 Voit Real Estate Services Inc...... 13 Dwight Stuart Youth Fund ...... 38 Susan G. Komen for the Cure ...... 38 C Kawasaki Motors Corp...... 27 Pfizer Inc...... 28 W C. K. Cooper & Co...... 3 Polara Golf ...... 4 T E L Walden Family Services ...... 38 California Center for Port of San Diego ...... 26 Tao Venture Partners ...... 8 E-Tech ...... 26 Laughter Matters ...... 3 Warner Robins Air Logistics Center .....3 Sustainable Energy ...... 25 PricewaterhouseCoopers LLP ...... 3 Target ...... 5 ecoATM ...... 8 Legislative Analyst’s Office ...... 8 California Institute for Princeton University ...... 4 Tech Coast Angels ...... 3, 8 Washington Mutual Bank ...... 15 Edco ...... 38 Legoland California ...... 25 Regenerative Medicine ...... 28 Project Management Advisors ...... 21 Technology Standards Group Inc...... 6 Wave Crest Oceanfront LLC ...... 26 Eli Lilly and Co...... 27 Lennar Corp...... 18 Callaway Golf Co...... 4, 27 El Super ...... 5 PV Venture Sorrento LLC ...... 31 Tenant Rep Real Estate...... 31 WD-40 Co...... 27 Caltrans ...... 10 Ligand Pharmaceuticals Inc...... 3 ThatsMyTicket.com ...... 3 Emerald Textiles ...... 1 Q Wells Fargo ...... 1 CancerVax Corp...... 27 Lowe’s ...... 26 The Blackstone Group ...... 13 EvoNexus ...... 8 Lowe Enterprises ...... 10, 21 Qualcomm Inc...... 15, 38 Western State Design ...... 26 Carlsbad Chamber of Commerce ...... 15 The Corky McMillin Cos...... 19 Westfield Group ...... 8 CarMax Business Services LLC ...... 15 F Luce, Forward, R The Counter Custom Built Burgers .....13 White Labs Inc...... 31 Cassidy Turley BRE Commercial ..10, 31 FBI ...... 10 Hamilton & Scripps LLP ...... 38 Red Door Interactive Inc...... 27 The Economist ...... 39 Centex ...... 18 Fletcher Jones Motorcars ...... 15 M Redistricting Advisory Committee ...... 3 The Irvine Co...... 10 W Hotel ...... 13 Centre City Development Corp...... 37 Food and Drug Administration ...... 15 Macquarie Atlas Roads ...... 10 RF Industries ...... 25 The J. David Gladstone Institutes ...... 28 William Lyon Homes ...... 18 Fresh Pac International ...... 38 Chandler Asset Management Inc...... 38 Macquarie Infrastructure Partners .....10 Richard Doan Construction ...... 38 The Kroger Co...... 5 Y Chevron Corp...... 6 G Make-A-Wish Foundation ...... 25 RJC Architects ...... 21 The Lomas Santa Fe Group ...... 26 YMCA ...... 15 Chicago Cubs ...... 3 General Atomics ...... 27 Mama’s Kitchen ...... 38 Roel Construction Inc...... 21 The London Group Realty Advisors ...39 Chicken of the Sea ...... 27 General Atomics Manchester Grand Hyatt ...... 13, 38 Royal Palm Miami Beach ...... 13 The Scripps Research Institute ...... 28 Z Chula Vista Electric Co...... 6 Aeronautical Systems Inc...... 27 Marine Corps ...... 25 Rubio’s Fresh Mexican Grill ...... 1, 27 TicketStubCollection.com...... 3 Zoological Society of San Diego ...... 27 Thumbnails SDBJ User Guide Front Page Table of Content
1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"- "QSJM Group’s Fierce Fundraising Efforts Bring Help to Cancer Fight AMN Health- Master of Science in Executive Leader- care is sponsoring ship program. The $2,000 scholarship the 2011 Susan G. is funded by MSEL alumni, and is Komen for the Cure awarded annually to benefit students Awards Ceremony who have demonstrated a history of which was to be bold leadership. Burton, who will held Apr. 7. The San begin the MSEL program in August, Diego affiliate will is currently serving in Afghanistan KUDOS/GIVING distribute grants … Walden Family Services received a Joyce Glazer amounting to nearly $20,000 grant from the Dwight Stuart $1 million, almost Youth Fund for its Independent Futures double the amount of last year. The program, which supports pre-emanci- grants, raised through local events and pated and emancipated foster youth in fundraisers, allow the organization to developing independent living skills. support the uninsured and underin- The mission of the DSYF is to sup- sured women of San Diego through port organizations that provide direct every step of their breast cancer jour- services to underserved children so *MMVTUSBUJPODPVSUFTZPG.BNBT,JUDIFO .BNBT,JUDIFOXJMMDFMFCSBUFUIFUIBOOJWFSTBSZPG.BNBT%BZPO.BZBUUIF)ZBUU3FHFODZ ney. “San Diegans have spoken with they may gain skills, values and confi- -B+PMMBBU"WFOUJOF5IFFWFOUXJMMQBZUSJCVUFUP5POZ,PQBT UIFMBUFGPVOEFSPGUIF.BNBT their dollars even during these tough dence to achieve their goals … Access %BZDIBSJUZFWFOU economic times,” said Laura Farmer Destination Services was recognized Sherman, a breast cancer survivor and as 2011 Event Company of the Year tions from Edco, Qualcomm, DC Shoes, supporter of GISD. Luce, Forward executive director of Susan G. Komen during the Event Solutions annual Richard Doan Construction and Fresh has provided its pro bono services to for the Cure, San Diego … St. Made- Spotlight Awards gala. The spotlight Pac International. More than $100,000 GISD since the mid-1990s including leine’s Sophie Center was named Non- awards honors event professionals will be distributed to students … employment counsel on administra- profit of the Year at the San Diego East and companies for their exceptional Mama’s Kitchen will celebrate the 20th tive claims with various state agencies, County Chamber of Commerce gala body of work throughout the year … anniversary of Mama’s Day on May 6 personnel matters and staffing … Vista held on Feb. 25 at the Crystal Ballroom American Heart Association’s National at the Hyatt Regency La Jolla at Aven- Hill Foundation is presenting its 2011 in El Cajon. This was the first year that Start! Walking Day was to be held Apr. tine. Tony Kopas, the founder of TK&A Fashion — Oz Show on Apr. 14 at the the chamber chose to recognize a local 6 at the San Diego Concourse where Custom Catering, created the concept Manchester Grand Hyatt San Diego nonprofit at the gala. St. Madeleine’s Mayor Jerry Sanders was to join event and founded the Mama’s Day event in hotel. Sponsors include San Diego was chosen for its program helping sponsors Suffolk-Roel and Union Bank 1991. The event is a tribute to Kopas adults with developmental disabilities to kick off a one-mile wellness walk who died of complications of AIDS in County Credit Union, Chandler Asset and its strong community involvement. downtown. Mayor Sanders hopes his 1995. Proceeds help hundreds of criti- Management Inc. and Audrey S. Geisel/ The chamber is celebrating its 100th participation will serve as encourage- cally ill San Diego County residents Dr. Seuss Fund. Proceeds benefit the year, and it hosts the annual gala to ment for others getting started with … Goodwill Industries presented the Don Allen ParentCare Family Recovery feature and recognize outstanding com- their own heart health efforts … Junior “Sutherland Award” to Luce, Forward, Center, SAFIR and Sam and Rose Stein munity leaders … Major Eric Burton, Seau Foundation is accepting applica- Hamilton & Scripps LLP at the firm’s Education Center, all programs of a U.S. Marine Corps officer, has been tions for the Scholars of Excellence to annual board meeting on March 21. Vista Hill. awarded the 2011 Meg Whitman Schol- San Diego County high school seniors. The award is presented annually to a Please send Kudos and Giving items to arship for the University of San Diego’s The program is funded through dona- local business that has been a strong Joyce Glazer at [email protected].
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5)&3&(*0/4"8"3%8*//*/(#64*/&448&&,-: The San Diego Business Journal will be publishing its Inaugural edition of The
Volume 31, Number 30 July 26-August 1, 2010 $2.00 4QFDJBM4VQQMFNFOU Real Estate 1/+%10>5 41&7%6+10 #-'5 Giving Guide on July 25, 2011. Offering a wealth of information, The Giving Guide 4'%'&'0%'8'4 =116#/2> 0%'*+4'&61#%+8+.+#021569*1+05647%656*'/ #/+0)156+6; 106*'0'21+0651(1(%''6+37'66' '.2514/'4+.+6#4; '45100'. ? *'/+.+6#4;64#+05;17519'..14'8'4;56'2 127.674' 4'2#4'(14#4''45#5+8+.+#05 ;17#4'64#+0'&61$'57%%'55(7.@5#+&4'6+4' '#4&/ 100'41/#0?!*'0;17.'#8'6*' 8'06>5%101/+%/2#%6 /+.+6#4;01$1&;4'#..;4 Lew Dominy says O#Z#3"%(3"7&4 '64#+05;17@ projects for religious 41/#0 +55''-+0)61%*#0)'6*#66*417)*# '8+5'& 29#4&61 is designed to help busy philanthropic-minded executives choose the community institutions are 8'4;;'#4+0 #0+')11706;6*175#0&51( 6*4''9''-914-5*125*'%#..5 '$116 keeping his firm busy. O#Z-06)*34) 2'12.'0+5*6*'+4/+.+6#4;%#4''45760110'+0 #6'.#56;'#441/#0#0J+%'!+.510# Page 3 4'6+4' /#56'4%*+ '(2'66;1(%'4&4'#/'& 6*'%*#+01(%1//#0&6'..56*'/*1961#%'#,1$ 56*' 1/+%1006'40#6+10#. +06'48+'9+06*'%+8+.+#0914.&14*1961#&&4'55 72 6*' +&'# 1( # $116 %#/2 (14 2'12.' /#-+0) 6*',7/2(41//+.+6#4;61%+8+.+#0.+(' *';*#8' &4'961+655%*'&7.'&7.; %.15' #0 2'12.'#0&6#.-726*'+4#%%1/2.+5*/'065 +')1 %108'06+10 #0& Finance 4'%47+6'&#*#0&(7.1(81.706''45 616'#%*6*'2#4 $75+0'55 .'#&'45 6+%+2#065#0&4706*'+4)419+0)14)#0+<#6+10#0& 56+..*#&01#059'4109*'6*'46*'/#5 5+8'212%7.674')#6*'4+0)917.&56#;+0 ¨ 4UFQIFO8IBMFO +65.10)6+/'*1/'$';10& 3FUJSFE/BWZ3FBS"EN 3POOF'SPNBO *+5 ;'#4>5 51. &176 %108'06+10 9#5 TIPXOXJUI.BSJOFTBU. BSJOF$PSQT ':2'%6'& 61 &4#9 #4170 & &#+.; 3FDSVJU%FQPUJO4BO%JFHP JT partners that best fi t their initiatives. USZJOHUPIFMQGPSNFSNJM JUBSZ 61 6*' #0 +')1 108'06+10 '06'4 QFSTPOOFMNB LFUIFUSBOTJUJ PO #0&9+6*8'0&145#0&).1$#./'&+#4'2 UPDJWJMJBOMJGF ¨ 4QBDF3FTFSWBUJPO%VF
Teresa Halleck is taking over as CEO of San Diego County Credit Union next month. Page 13
The Lists: Residential Property 1IPUPDPVSUFTZPG$FOUSF$JUZ%FWFMPQNFOU$PSQ +VMZ Management 8PSLPOUIF)BSCPS%SJWF1FEFTUSJBO#SJEHF Companies JTFYQFDUFEUPCFDPNQMFUF ECZ/PWFNCFS Residential Real Estate Agencies Inside 19061904+&)' The Giving Guide will feature an in-depth 2-page profi le of your organization while !146*6*'!#+6 (%+#.5 #; 647%674'156514' *#0 placing you in front of interested sponsors, donors and other supporters, in addition 9+%'4+)+0#.56+/#6' O#Z.*,&"--&/ 2'&'564+#0$4+&)'0':661 '6%1 #4- %PXOUPXO4BO%JFHPJTUIFTFUUJOHPGBOVNCFSPGIJHIQSPàMFQSPKFDUT 6*#6 %156 /14' 6*#0 &1 7$.' +65 14+)+0#. "E.BUFSJBMT%VF TQPUMJHIUFEJOUIJTJTTVFT4USVDUVSFTTVQQMFNFOU '56+/#6'9+..6#-'0'#4.;&17$.'6*'6+/' "NPOH UIF NPSF OPUFXPSUIZ QSPKFDUT QSPHSFT TJOH POUP DPOTUSVDUJP O 61%1/2.'6'%105647%6+10$76241,'%61( JTUIFMPOHBXBJUFE$FOUSBM-JC SBSZ BHSPVOECSFBLJOHDF SFNPOZJTTFU %+#.55#;+69+..$'9'..9146*6*'9#+6 GPSUIJTXFFL *' &'.#; +0 0+5*+0) 6*' 914- +5 # A SU PPL EMENT TO T HE /PUTPGBSBMPOHUIFQJQFMJOF CVUKVTUBTTJHOJàDBOU BSFUIFQFOEJOH4BO %105'37'0%'$;#..6*15'+081.8'&10'0 2010 %JFHP$POWFOUJPO$FOUFSFYQBOTJPO XIJDIXPVMEBEE TRVBSFGFFU 574+0)6*#66*',1$+5&10'%144'%6.;#0& to raising overall awareness of your cause. This guide includes the Nonprofi t PGFYIJCJUBOENFFUJOHTQBDFBOEBO TRV BSFGPPUCBMMSPPNUPUIF FYJTUJOHTUSVDUVSF BOEB TFBUGPPUCBMMTUBEJVNGPSUIF$IBSHFST 6*#66*'#4$144+8' '&'564+#04+&)' +5 7.6+/#6'.; 5#(' 5#+& 1' 1)01.+ 6*' 5PSFBENPSFBCP VUUIFTFQSPKFDUTBOEPUIFST QMFBTFUVSOUP4USVDUVSFT 241,'%6'0)+0''4(41/6*'%1064#%6'&4/ " +006'40#6+10#.1( #04#0%+5%1 ¨ +VMZ
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Editorials, letters, columns and other opinions COMMENTARY 4909 Murphy Canyon Road, Suite 200 San Diego, CA 92123 858-277-6359 • Fax 858-277-6398 Defining the New Normal Relative to Real Estate E-mail: [email protected] • Web site: www.sdbj.com As The Econo- revenue per unit. One way to accom- Coming out of the recession, the nation’s PRESIDENT & PUBLISHER mist put it recently, plish this is to raise prices. But there will retailers are hard-pressed to find solu- Randy C. Frisch [email protected] • 858-277-6795
the phrase “new be new upper limits in their ability to tions for lower consumer spending, high VICE PRESIDENT, CORPORATE DIGITAL MEDIA normal” is usually accomplish that in an economy replete costs of brick-and-mortar space rent EDITOR-IN-CHIEF used to explain the with lower paying jobs. The only other and the continuing onslaught of market Reo Carr [email protected] • 858-277-1740 persistence of under- choice to make projects feasible to devel- share from Internet retailers. Look for whelming economic op is to lower the size of housing units these retailers to continue to compress EDITORIAL data. Certainly we and charge higher revenue per square the size of their stores (warehousing Managing Editor COMMENTARY have had that in foot. This will be happening regardless excess merchandise in former industrial Brad Sondak [email protected] • 858-634-4623 most every expres- of whether it is a rental or a for-sale unit. space), and continue to “drive” their Gary London Asst. Managing Editor sion of recovery customers to their Web sites. Even retail- Julie Gallant [email protected] 858-634-4626 numbers such as with the still high A Kaleidoscope of People ers with failed business strategies — e.g. • unemployment level or the rate of new The new normal here is that our nation Borders and Blockbuster — continue to Copy Editor job growth. I believe that the suggestion is marching toward a race neutral society trade in their virtual space while closing Steve J. Adamek [email protected] • 858-277-6591 of a “new normal” is much more than such that the demographics of who we are down their “real” space. Contributing Editor that. In fact, what is new about normal I will matter less as a standard or measure- Tom York [email protected] believe will transgress the very fabric of ment of how and what we buy. We have Old Industrial Is the New Retail Senior Reporter our society, including our politics, our been receiving a steady stream of census The new normal in the industrial fiscal budgets, our people, our businesses data, the most interesting of which is that sector involves a sharing of functions. Mike Allen [email protected] • 858-277-6971 and our psyches. Hispanics whom we have long known What used to be the exclusive domain of Reporters Now that the economy is turning some were the largest growing segment of the manufacturing, has now morphed into an Brad Graves [email protected] • 858-277-6586 kind of a corner, I thought it would be nation’s population — have overtaken ever-increasing devotion of space to ware- Lou Hirsh [email protected] • 858-277-8904 interesting to reflect on how the “new whites and blacks as pluralities in Cali- housing. Much of this supports the trends Kudos/Giving Columnist normal” impacts the real estate and fornia and other places. This is both due in the retailing sector. Manufacturing it- Joyce Glazer [email protected] finance sector. Here are some ideas, to their large immigration numbers, high self is evolving to be less people-intensive roughly divided by category: number of young adults having children, through technology and robotics. Hence, Editorial Assistant and larger family sizes. the industrial market is much more stable Daina Yousif [email protected] • ext. 3109 Shrinking Investment Returns These numbers mean nothing from a than the other real estate sectors because Photographers The notion of “Return on Invest- practical perspective. I suspect that His- it has accommodated the changes associ- Melissa Jacobs • [email protected] panics will continue to blend with other ated with the “new normal” much more ment” has been turned on its head and Stephen Whalen • [email protected] the new normal is lower return. It is races as the U.S. marches toward an ef- adeptly than their brethren. generally now understood in investment fectively “race-less” society as the century RESEARCH circles, certainly in real estate deals but unfolds. What they buy, where they live Brokers Are Specialists Research Editor not exclusively, that “acceptable” invest- and how they think will become indistin- The new normal in the business of real Stephanie R. Glidden [email protected] • 858-634-4636 ment returns have been cut roughly in guishable from other demographic groups. estate is that fees and percentages will go half. This essentially means that many, America has always been a melting pot. down as the availability to services and ADVERTISING many investors will expose themselves Yet, as people settle here, they aspire to be self-serve become the rule. I do not know Sales Manager to the same level of risk for one-half the and do the same, blending as a people. As how commission rates are going to shake Dale Ganzow [email protected] • 858-277-4832 return, be it an investment in an existing a precursor to what I am talking about, out over the coming years. But here is income property or even in real estate look to Brazil: here is a nation of 49 dif- what I suspect: there are many, many Account Executives development, where risk is notoriously ferent colors, where races blended much fewer transaction “middlemen” in either Mallory Bullard [email protected] • 858-277-6594 high, as is the return. Ten percent return earlier than here in the U.S. the residential or commercial sector. The Sarah Christ [email protected] • 858-634-4627 in an investment is the “old” 20 percent. Different shades, same dreams. recession cleared out the overpopulation Cindy Dunford [email protected] • 858-277-6692 It has to be this way because most deals of brokers and agents. During the last Erin Farmer [email protected] • 858-277-6499 require more equity (see mortgages). Servers Replace File Cabinets five years it has been a matter of “sur- Sales Administrator/Receptionist When an investor has more equity (and The new normal in the commercial vival of the fittest” and there has been a Kathi McArthur [email protected] • 858-634-4631 less debt) it is simply about math that the office sector is a smaller personal office large weeding out process of those who return must go down. space, less leased company space, in actually can make a living, much less Events Coordinator/Supplements Editor new locations and performing different prosper as transaction middlemen. Carole Ravago [email protected] • 858-634-4634 More Money Down functions. The need for office space will There will always be a role for bro- Events Specialist The new normal in mortgages — both change. It certainly will not go away, but kers, but that role is both diminishing April West [email protected] • 858-277-6695 commercial and residential — is that there are both social and technological and changing. The prolific availability they will be harder to get and less money changes that are altering the workspace. of information and data in open forums ART & PRODUCTION DEPARTMENT will be loaned. It is much more difficult One is that companies and people have has effectively taken out their competi- Director of Art & Production to qualify for a mortgage. While this more choices in where and how they tive advantage. Mostly, they are being Michael S. Domine [email protected] • 858-634-4628 work. They no longer have to be in con- reduced to a “luxury” or specialty func- may change as lenders ease their require- Design Editor/Graphic Artist ments in line with a more comfortable centrated working environments because tion. One clue is in the travel industry: Darlene Alilain-Horn [email protected] • 858-277-1516 economic outlook, they certainly will of the incredible technologies recently while travel agents still exist, their prime never go back to the “if you can fog a available to communicate — e-mail, function is no longer to service the Graphic Artist mirror you can get a loan” days that gave Skype, social networking, etc. Also, everyday, easy trip. Rather, they mostly Rick Pearce [email protected] • 858-634-4630 many businesses are not tied to geogra- specialize in luxury vacations or complex rise to the subprime mortgage debacle. CIRCULATION The other aspect of this is that the old phy and can locate in remote places, far business trips. loan-to-value ratios where you could from the central business district. Most So, too, will go commission rates. It is Director of Circulation & Marketing borrow all or most of the money with of the office development of the past two implausible that most commissionable Linda Olander [email protected] • 858-277-2914 little equity or money down are gone. decades has been in the suburbs. Many events will be tied to the traditional, high Director of Circulation Sales On all mortgages, be they residential or of those businesses can be in the moun- 6 percent level. They will go lower in most Lawanda Ashworth [email protected] • 858-277-9734 commercial, you are going to be required tains for all that it matters. transactions and be negotiable in all. to have more “skin in the game,” mean- And technology plays a huge role in Life changes — and the life changing Circulation & Marketing Associate ing, your own money at risk in the deal, how much space is actually needed. I have economic event we now dub the “Great Casimira Lavala-Martinez [email protected] • 858-634-4629 not just the lenders’. addressed this many times, but it is quite Recession” — have catalyzed these Circulation Assistant/Receptionist evident that hard drives (and soon the changes. The focus for all with a stake in Shannon Snyder [email protected] • 858-277-6391 “cloud”) have replaced file cabinets. Soft- the real property sector is to recognize Homes Will Be Smaller ADMINISTRATION The new normal in residential is that ware replaces some jobs. This equates to those changes, adapt to them in both we will be building and ultimately living fewer space requirements for companies. your mind-set as well as the services Controller in smaller homes, mostly condos and It is an evolving trend that will continue. which you provide, discovering the new Mark J. Misiano [email protected] • 858-277-6778 apartments, and we will pay more for opportunities that arise from the change. the privilege. The notion of both house Brick and Mortar Retail to Diminish That will be your “new normal.” size and housing type is going to change The “new normal” in retailing is that Gary H. London is president of The dramatically, particularly in the western consumers may spend less, and those London Group Realty Advisors, which coastal markets like San Diego. Simply purchases will be more often made on provides real estate consulting and put, to make financial sense to build, the Internet, which will cut an ever- economic analysis. Check him out on the developers have to squeeze out more increasing slice into the consumer pie. Web at londongroup.com. Thumbnails SDBJ User Guide Front Page Table of Content
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sdbj.com SAN DIEGO BUSINESS JOURNAL Volume 32, Number 5 THE COMMUNITY OF BUSINESSTM January 31-February 6, 2011 $2.00
Innovation HEALTHY IMPACT STAFFING: Health Care Reform Likely To Create Growth Opportunities for Firms O#Z45&7&4*/07*$ Health care reform may be a permanent x to provide every American with basic medical services, but look to temporary staf ng rms to do a lot of the heavy — and challenging — lift- ing on the patient care recruitment front. Venkat Shastri serves Landmark legislation signed into law by President as president and CEO Obama promises to bring far-reaching change to the of PCN Technology. nation’s health care system. Page 4 While many of the law’s provisions don’t take effect until 2014, access to health care provided under this bill will greatly increase the need for clinical professionals. At the same time, a large number are already leaving the Retail AMN page 27
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Campaign Promotes Region as Tech Center Pentagon Cutting Debra Jensen is chief WORK FORCE: Local Of ces Angeles and Orange counties. information officer “There are many people outside this region Exquisite Programs for Charlotte Russe, Look to Fill 6,000 Job Openings in who aren’t terribly aware of the tremendous job which has more than opportunities we have here, 10,000 employees. Software, Information Technology DEFENSE: Money Going to Page 33 so we have to do a better job of promoting that idea,” Projects Deemed More Worthy O#Z.*,&"--&/ said Bob Slapin, executive O Responding to a projected dearth of local director of the Software #Z#3"%(3"7&4 The List: Commercial Real engineering talent to ll the growing number Industry Council. With the U.S. Department of Defense Estate Brokerages of jobs created by San Diego’s high-tech com- Slapin said the goal is keeping a closer eye on spending, the defense Page 16 panies, two organizations are joining with the to publicize that local tech industry’s main customer has less tolerance for private sector to launch a recruiting campaign #PC4MBQJO rms have about 6,000 job the “exquisite” program. to attract such workers from other areas of openings in the software That was one of the messages that Robert O. the state. (SPXJOH4PGUXBSF and information technol- Work, undersecretary of the Navy, delivered In March, the San Diego Software Industry $PNQBOZ(FUT ogy elds. Jan. 26 at the San Diego Convention Center Council and San Diego Regional Economic De- /FX/BNF Lauree Sahba, chief op- during the West 2011 military conference. velopment Corp. plan to roll out the campaign PAGE 3 erating of cer at the EDC, The Pentagon is cut- promoting San Diego as a tech center in Los Tech page 27 ting programs that Work calls exquisite — meaning programs that are highly capable but very expensive — and shifting money to Hoteliers Exuberant About Lodging Prospects programs it decides are more worthy, Work said 1 Investment Summit. headlines: Touching headlines Optimism leads you directly to the sdbj.com article. in separate appearances HOSPITALITY: More than 2,000 attended the conference, 3PCFSU08PSL before a luncheon audi- among the industry’s largest annual gatherings, Tempered With Skepticism ence and before a gathering of defense industry Jan. 24-26 at the Hilton San Diego Bayfront reporters. On the Employment Front Hotel. The event draws a crowd that includes This comes as Pentagon leaders increasingly representatives of global rms in the realm of O#Z-06)*34) view the federal budget de cit as a risk to na- hospitality and nance. tional security. Continued challenges in nancing new prop- At a panel discussion featuring leaders from Work limited his remarks to program cuts erties, combined with a gradually improving some of the largest chain hotel companies, the that had previously been announced. The economy, should bode well for current hotel executives predicted a continued slow rebound undersecretary told the defense business com- operators in the coming year, industry leaders in room rates during 2011, as business travel munity to wait for President Obama to release predicted at an international hospitality confer- increases while cost-conscious consumers shop his budget, on Feb. 15 or thereabouts, to get a ence in San Diego. around for the best deals on the Web. better idea of the Pentagon’s spending plans. “There seems to be a very broad recovery David Kong, president and chief executive He listed the upgraded Presidential Helicop- under way,” said Arne Sorenson, president and of cer of Best Western International Inc., said ter program as one of the exquisite programs chief operating of cer of Marriott International gains in the stock markets, which have generally 50 6 3 1 3 8 1 4 2 9 4 Inc., during a session at the Americas Lodging Lodging page 26 Military page 26 Thumbnails SDBJ User Guide Front Page Table of Content
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+BOVBSZ 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF New Challenge Firm Asserts Edgy Image With New EdgeWave Name EDGEWAVE In simple terms, EdgeWave’s secure con- TECHNOLOGY:Refreshed tent management software products pro- Is on the Plate CEO:-PV3ZBO Moniker Part of 2-Year tect data at medium to large businesses. Revenue: NJMMJPOGPSàSTUOJOF “We help organizations protect their em- Of Media Maven Reinvention Process NPOUIT NJMMJPOGPSUIFMJLFQFSJPEPG ployees and their digi- Net losses:NJMMJPOGPSàSTUOJOF tal assets from harm Well, when we ®Ê#Z.*,&"--&/ NPOUIT GPSUIFMJLFQFSJPEPG with all the bad things last checked in with Reinvention is a wonderful thing, and No. of local employees: that can happen to new media guru Ron when companies do it, they sometimes Year founded: you when you’re out James — the genius change their names as well. in cyberspace with a behind San Diego Stock symbol and exchange: 4#480# Hence, what was once called St. Bernard POUIF05$#VMMFUJO#PBSE Web browser … or ex- Magazine’s pioneer- Software Inc. was rebranded this month changing e-mail with ing Web site and a Company description: %FTJHOFSBOENBLFS as EdgeWave. Yet, why would a business PGTFDVSFDPOUFOUNBOBHFNFOUTPGUXBSFGPS somebody outside the #SJBO/VHFOU former key player abandon the moniker that elicits images NFEJVNBOEMBSHFDPNQBOJFT organization,” said SDBJ INSIDER at signonsandiego. of the stalwart canine saving stranded Brian Nugent, EdgeWave’s chief operat- Tom York com and the now climbers? ficer Lou Ryan. ing officer. defunct San Diego “This company has completely rein- The name is meant to suggest a com- News Network — he was heading off to vented itself in the last couple years and pany operating on the edge of technology, Boost in Customers, Employees retirement in the Wine Country to write we thought that it was appropriate to give with solutions that help customers catch a Now with more than 8,000 customers, about his favorite wines and really good it a new name,” says Chief Executive Of- wave propelling them forward, he said. EdgeWave page 30 food. Well, he’s decided to stay a little closer to home. He launched his new- est brainchild, Wine & Dine San Diego Magazine, on Jan. 24, and has assembled a first-class team of food writers to turn Cadence Makes Big Addition to Pain-Relief Arsenal out reviews and profiles. The site will also provide one-stop browsing for deals and HEALTH CARE:Firm’s discounts at area restaurants. Former ‘Our therapeutic is addressing incisional pain L.A. Times restaurant reviewer David Injectable Acetaminophen following surgery. When combined Nelson serves as associate publisher ... Aids Postoperative Patients After a year and a half of utter silence, with a stronger drug, it allows for the dynamic radio duo of Jeff and Jer ®Ê#Z45&7&4*/07*$ much better pain relief.’ (Jeff Detrow and Jerry Cesak) returned to the airwaves Jan. 24 during the morn- Befitting the company’s name, San — Ted Schroeder Cadence Pharmaceuticals ing drive time on local station KyXy/96.5. Diego-based Cadence Pharmaceuticals founder, president and CEO Inc. Thanks to Insider correspondent and ’s sales staffers are marching to ap- publicist Jan Rieger for the reminder pointments to get a share of the pain-relief After an expensive seven-year process to for patients who are unable to swallow about their return ... Former East County business at the nation’s hospitals. bring the drug to market, the company’s pain pills. Chamber of Commerce CEO Mike The company’s distribution centers are top executive said Cadence is looking to Helping fund the company’s various Cully’s attorney was threatening to file a fully stocked and accepting orders for meet a huge unmet need at the nation’s efforts was a November 2010 financing breach of contract lawsuit against Cully’s Ofirmev, the injectable therapeutic now hospitals with its intravenous pain reliever Cadence page 30 former employer the week of Jan. 24. He being marketed by Cadence. is seeking $12,000 he says he’s owed for his sudden termination Sept. 23. Cully, currently an M.B.A. student, is a former television journalist who successfully served as the head of the Visalia Cham- Qualcomm’s ber of Commerce. No comments from East County chamber executives about the dispute ... The Thomas Jefferson First Quarter School of Law, which recently started classes in its eight-story urban campus Tops Forecasts in East Village, said it has assumed the ARE YOU IN JEOPARDY OF LOSING master lease of Entrada, a 172-unit Qualcomm Inc. beat Wall Street ana- residential complex located at Island and lysts’ expectations both in revenue and YOUR PROPERTY TO THE BANK? 11th avenues a block away. The lease will profit growth for its fiscal 2011 first quarter enable the law school to recruit nationally results released Jan. 26. and provide housing, and then move up For its first quarter ended Dec. 26, the the food chain of high-profile law schools San Diego-based designer and maker of ... Happy birthdays! San Diego-based chips used in wireless devices and base sta- financial services firm Rosner Brown tions reported $3.35 billion in revenue, up Touchstone & Keller celebrates its 30th 25 percent over the like quarter of the 2010 year anniversary in January. Krispin fiscal year. The number was above the $3.2 Rosner started the firm three decades billion average forecast by stock analysts. 2ago, and now includes Kevin Brown, Net income for the first quarter was $1.17 page jumps: Touch jump tags leads you to and from the jumpe faced page our own challenging situations in commercial real estate and development business Dan Touchstone, Lorrie Keller and Scott billion, up 39 percent from the prior fiscal during these past several years. Fortunately, due to decades of experience, we knew how Trendel as partners ... United Way is year’s first quarter. On a diluted share basis, W to work with various banks and to restructure and settle all our debts successfully! Since then, honoring its 90th birthday this year with the profit was 71 cents, compared with 50 we have helped many banks and clients successfully reach suitable restructuring plans! an unusual photo exhibit in the lobby of cents per share in the 2010 first quarter. NBC Plaza on Broadway in downtown “It was just an all-around great quarter,” At NO COST TO YOU, we will analyze your situation and determine if we can be of substantial San Diego. The exhibit, “Home Again,” said Bill Kreher, an analyst with Edward benefit to you! If so, on a contingency basis, this is what we will do for you: focuses on the stories of formerly home- Jones, quoted in an Associated Press report. less who have found new homes and new “They are really in the sweet spot in the shift • Analyze and update your financial statement and balance sheet lives, thanks in large part to the efforts of toward smart phones and tablets.” • Take over all your negotiations with the bank subject to your ultimate agreement United Way. For details, browse on over Shares of Qualcomm, traded on Nas- to uwsd.org ... Finally. What’s new on daq under QCOM, soared by about $3 in • Use our proven expertise to achieve an acceptable solution for you and your lender the horizon? Balboa Park’s Museum of after-hours trading to just below $55 Jan. • Avoid foreclosure/bankruptcy Man opens its latest exhibit, “Race: Are 26, above the company’s previous 52-week • Avoid further damage to your personal and We So Different?,” on Feb. 12. The show high of $53.10. financial life explores the everyday experience of living Qualcomm also revised upward its Ben Badiee with race — the conceptions and miscon- guidance for the second quarter and the With a proven track record of restructuring Badiee Development Inc. ceptions about race in society — and the rest of the fiscal year, with revenue next more than $100 million of debt, we would like 4747 Viewridge Ave., Suite 108 findings of contemporary science. Details quarter expected to be $3.45 billion to to help our fellow citizens in need of guidance San Diego, CA 92123 at museumofman.org. Till next week! $3.75 billion. and assistance during these difficult times, 858-337-7323 Tom York pens the SDBJ Insider, and is For the full year, the company forecasts with debts of $5 million or more. always on the lookout for interesting bits revenue of $13.6 billion to $14.2 billion. and tidbits. Reach him at [email protected]. .JLF"MMFO +BOVBSZ 4"/%*&(0#64*/&44+063/"- www.sdbj.com 1BHF New Challenge Firm Asserts Edgy Image With New EdgeWave Name EDGEWAVE In simple terms, EdgeWave’s secure con- TECHNOLOGY:Refreshed tent management software products pro- Is on the Plate CEO:-PV3ZBO Moniker Part of 2-Year tect data at medium to large businesses. Revenue: NJMMJPOGPSàSTUOJOF “We help organizations protect their em- Of Media Maven Reinvention Process NPOUIT NJMMJPOGPSUIFMJLFQFSJPEPG ployees and their digi- Net losses:NJMMJPOGPSàSTUOJOF tal assets from harm Well, when we ®Ê#Z.*,&"--&/Thumbnails SDBJ User GuideNPOUIT GPSUIFMJLFQFSJPEPG Front Page Table of Content with all the bad things last checked in with Reinvention is a wonderful thing, and No. of local employees: that can happen to new media guru Ron when companies do it, they sometimes Year founded: you when you’re out James — the genius change their names as well. in cyberspace with a behind San Diego Stock symbol and exchange: 4#480# Hence, what was once called St. Bernard POUIF05$#VMMFUJO#PBSE Web browser … or ex- Magazine’s pioneer- Software Inc. was rebranded this month changing e-mail with ing Web site and a Company description: %FTJHOFSBOENBLFS as EdgeWave. Yet, why would a business PGTFDVSFDPOUFOUNBOBHFNFOUTPGUXBSFGPS somebody outside the #SJBO/VHFOU Digital editionformer key player us ersabandon guid the monikere | that A elicitsdv imagesertising NFEJVNBOEMBSHFDPNQBOJFT links organization,” said SDBJ INSIDER at signonsandiego. of the stalwart canine saving stranded Brian Nugent, EdgeWave’s chief operat- San DiegoTom York Businesscom and Journal the now digitalclimbers? edition provides links to navigateficer Louthrough Ryan. pages and articles easilying officer. whether you are on your defunct San Diego “This company has completely rein- The name is meant to suggest a com- mobileNews Network device — such he was as heading iPad off and to computer.vented itself With in the alast the couple touch years of and your pany fingertips operating on onthe theedge ofheadlines, technology, theBoost digital in Customers, edition Employees will directly link retirement in the Wine Country to write we thought that it was appropriate to give with solutions that help customers catch a Now with more than 8,000 customers, about his favorite wines and really good it a new name,” says Chief Executive Of- wave propelling them forward, he said. EdgeWave page 30 youfood. to Well, the he’swebsite decided towhere stay a little the article is placed and can be forwarded through email or copied and pasted on documents of choice. closer to home. He launched his new- est brainchild, Wine & Dine San Diego Magazine, on Jan. 24, and has assembled a first-class team of food writers to turn Cadence Makes Big Addition to Pain-Relief Arsenal out reviews and profiles. The site will also provide one-stop browsing for deals and HEALTH CARE:Firm’s discounts at area restaurants. Former ‘Our therapeutic is addressing incisional pain L.A. Times restaurant reviewer David Injectable Acetaminophen following surgery. When combined Nelson serves as associate publisher ... Aids Postoperative Patients After a year and a half of utter silence, with a stronger drug, it allows for the dynamic radio duo of Jeff and Jer ®Ê#Z45&7&4*/07*$ much better pain relief.’ (Jeff Detrow and Jerry Cesak) returned to the airwaves Jan. 24 during the morn- Befitting the company’s name, San — Ted Schroeder Cadence Pharmaceuticals ing drive time on local station KyXy/96.5. Diego-based Cadence Pharmaceuticals founder, president and CEO Inc. Thanks to Insider correspondent and ’s sales staffers are marching to ap- publicist Jan Rieger for the reminder pointments to get a share of the pain-relief After an expensive seven-year process to for patients who are unable to swallow about their return ... Former East County business at the nation’s hospitals. bring the drug to market, the company’s pain pills. Chamber of Commerce CEO Mike The company’s distribution centers are top executive said Cadence is looking to Helping fund the company’s various Cully’s attorney was threatening to file a fully stocked and accepting orders for meet a huge unmet need at the nation’s efforts was a November 2010 financing breach of contract lawsuit against Cully’s Ofirmev, the injectable therapeutic now hospitals with its intravenous pain reliever Cadence page 30 former employer the week of Jan. 24. He being marketed by Cadence. is seeking $12,000 he says he’s owed for his sudden termination Sept. 23. Cully, currently an M.B.A. student, is a former television journalist who successfully served as the head of the Visalia Cham- Qualcomm’s ber of Commerce. No comments from East County chamber executives about the dispute ... The Thomas Jefferson First Quarter School of Law, which recently started classes in its eight-story urban campus Tops Forecasts in East Village, said it has assumed the ARE YOU IN JEOPARDY OF LOSING master lease of Entrada, a 172-unit Qualcomm Inc. beat Wall Street ana- residential complex located at Island and lysts’ expectations both in revenue and YOUR PROPERTY TO THE BANK? 11th avenues a block away. The lease will profit growth for its fiscal 2011 first quarter enable the law school to recruit nationally results released Jan. 26. and provide housing, and then move up For its first quarter ended Dec. 26, the the food chain of high-profile law schools San Diego-based designer and maker of ... Happy birthdays! San Diego-based chips used in wireless devices and base sta- financial services firm Rosner Brown tions reported $3.35 billion in revenue, up Touchstone & Keller celebrates its 30th 25 percent over the like quarter of the 2010 year anniversary in January. Krispin fiscal year. The number was above the $3.2 Rosner started the firm three decades billion average forecast by stock analysts. ago, and now includes Kevin Brown, Net income for the first quarter was $1.17 e faced our own challenging situations in commercial real estate and development business Dan Touchstone, Lorrie Keller and Scott billion, up 39 percent from the prior fiscal during these past several years. Fortunately, due to decades of experience, we knew how Trendel as partners ... United Way is year’s first quarter. On a diluted share basis, W to work with various banks and to restructure and settle all our debts successfully! Since then, honoring its 90th birthday this year with the profit was 71 cents, compared with 50 we have helped many banks and clients successfully reach suitable restructuring plans! an unusual photo exhibit in the lobby of cents per share in the 2010 first quarter. NBC Plaza on Broadway in downtown “It was just an all-around great quarter,” At NO COST TO YOU, we will analyze your situation and determine if we can be of substantial San Diego. The exhibit, “Home Again,” said Bill Kreher, an analyst with Edward benefit to you! If so, on a contingency basis, this is what we will do for you: focuses on the stories of formerly home- Jones, quoted in an Associated Press report. less who have found new homes and new “They are really in the sweet spot in the shift • Analyze and update your financial statement and balance sheet lives, thanks in large part to the efforts of toward smart phones and tablets.” • Take over all your negotiations with the bank subject to your ultimate agreement United Way. For details, browse on over Shares of Qualcomm, traded on Nas- to uwsd.org ... Finally. What’s new on daq under QCOM, soared by about $3 in • Use our proven expertise to achieve an acceptable solution for you and your lender the horizon? Balboa Park’s Museum of after-hours trading to just below $55 Jan. • Avoid foreclosure/bankruptcy Man opens its latest exhibit, “Race: Are 26, above the company’s previous 52-week • Avoid further damage to your personal and We So Different?,” on Feb. 12. The show high of $53.10. financial life explores the everyday experience of living Qualcomm also revised upward its Ben Badiee with race — the conceptions and miscon- guidance for the second quarter and the With a proven track record of restructuring Badiee Development Inc. ceptions about race in society — and the rest of the fiscal year, with revenue next more than $100 million of debt, we would like 4747 Viewridge Ave., Suite 108 findings of contemporary science. Details quarter expected to be $3.45 billion to to help our fellow citizens in need of guidance San Diego, CA 92123 at museumofman.org. Till next week! $3.75 billion. and assistance during these difficult times, 858-337-7323 Tom York pens the SDBJ Insider, and is For the full year, the company forecasts with debts of $5 million or more. always on the lookout for interesting bits revenue of $13.6 billion to $14.2 billion. and tidbits. Reach him at [email protected]. .JLF"MMFO
3 advertising links: Touch hyperlinks leads you directly to the website Thumbnails SDBJ User Guide Front Page Table of Content
Digital edition users guide | Table of Content Page San Diego Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.
1BHF www.sdbj.com 4"/%*&(0#64*/&44+063/"- +BOVBSZ
JANUARY 31-FEBRUARY 6, 2011 VOLUME 32, NUMBER 5
Business is Green! EXPO
1IPUPDPVSUFTZPG1SVEFOUJBM$BMJGPSOJB3FBMUZ 1BHF.PUIFSEBVHIUFSTBMFTUFBN.BYJOF(FMMFOT MFGU BOE.BSUJ(FMMFOTPG1SVEFOUJBM $BMJGPSOJB3FBMUZBSFCFJOHSFDPHOJ[FEGPSUIFJSPVUTUBOEJOHQFSGPSNBODF Wednesday, March 16, 2011 ON THE COVER 2 - 6 p.m. QUOTE OF THE WEEK Windmill Banquet and Catering DEFENSE — Pentagon cutting exquisite programs. STAFFING — Health care reform likely to cre- ‘Virtually all the companies I’m 890 Palomar Airport Road ate growth opportunities for rms. running into have job Calrsbad, CA 92008 HOSPITALITY — Hoteliers exuberant about lodging prospects at investment summit. openings on the technical side. WORK FORCE — Campaign to promote region This region needs a highly as a tech center. skilled work force, and right BIOTECHNOLOGY now we’re not producing
For more information COLUMN — Regional life sciences group thinks enough of them.’ — Kevin Carroll of TechAmerica, a high-tech globally, as reported in the Biotech column ... 11 on how to become industry trade group. To read the story, a vendor call: please turn to Page 1. 760.931.8400 or visit COMMENTARY www.carlsbad.org DEVELOPMENT — Before cutting redevelop- SPECIAL REPORT — Executive Pro le: ment, look at the property tax laws ...... 39 Jonathan Y. Freeman of Cassidy Turley ...... 18 Q&A — IT Executive Pro le Debra Jensen of ENERGY Charlotte Russe ...... 33 ENVIRONMENT — Port program promotes REAL ESTATE green practices on waterfront ...... 8 SPECIAL REPORT — Brokers share best strate- FEATURES gies for locating suitable space; class A of ce deals are plentiful ...... Starts on page 13 COLUMN — SDBJ Insider ...... 3 COLUMN — FBI getting new campus, as reported REPORTING — News in Brief ...... 12 in the Commercial Real Estate column ...... 15 A Global Tradition Making History in La Jolla ROUNDUP — Regional Report ...... 12 TRANSACTIONS — Top Multifamily Sales .... 28 COLUMN — Cities protect resources, as reported ROUNDUP — Projects, developments and were hours at Harry’s in the Business in the North County column ...29 other activities around San Diego County, as COLUMN — Gift helps foster kids, as reported in reported in the Real Estate Roundup ...... 29 when it filled with the the Kudos/Giving column ...... 38 SUPPLEMENT people that you knew...” HEALTH CARE — Ernest Hemingway, OFFICE EQUIPMENT — Of ce furniture and PHARMACEUTICALS — Cadence makes big ad- Across the River and Into the Trees of ce machines ...... A-21 4 dition to pain-relief arsenal ...... 3 Table of content: Touch table of content teaserWIRELESS will —jump Connect directly forum tackles to the issues page of TECHNOLOGYof the story. advancing wireless health care ...... 6 Hours PHARMACEUTICALS — Amylin plans for future MARKETING — Firm asserts edgy image ...... 3 Mon-Fri: 11am-10pm Happy Hour Tapas as it rebounds from recent FDA setback ...... 7 Sat: 5pm-10pm Mon-Fri: 3pm-7pm Mon-Fri: 4pm-CLOSE EARNINGS — Qualcomm’s revenue rises ...... 3 INNOVATION WIRELESS — Verve Wireless names CEO .... 10
4370 La Jolla Village Dr.Suite 150 | 858.373.1252 | www.harrysbarandamericangrill.com TECHNOLOGY — Company creates an ‘all-ter- THE LISTS rain vehicle’ of communication ...... 4 REAL ESTATE — Commercial Real Estate Every Saturday night enjoy food and wine specials INVESTMENTS & FINANCE Brokerages ...... 16 Ernest Hemingway loved Harry’s and so will you! COLUMN — Credit union nds strength in TRANSPORTATION Catering & Private Rooms Available numbers, as reported in the Finance column 11 TRADING — San Diego Stock Chart ...... 31 TECHNOLOGY — Cubic collects $220M deal ... 8 PEOPLE WORK FORCE
ECONOMY — SDG&E chief executive ap- RECOGNITION — Treating employees well helps pointed co-chair of leadership council ...... 10 contractors make a fortune ...... 5
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Digital edition users guide | thumbnails San Diego Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.
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Digital edition users guide | Download instruction for pc/mac San Diego Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.
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Digital edition users guide | Download instruction for iPad San Diego Business Journal digital edition provides links to navigate through pages and articles easily whether you are on your mobile device such as iPad and computer. With a the touch of your fingertips on the headlines, the digital edition will directly link you to the website where the article is placed and can be forwarded through email or copied and pasted on documents of choice.
We recommend you read the very brief San Diego Business Journal Digital Edition User Guide which you can download right now at: http://www.cbjonline.com/a3sdbj/resources/Digital-Edition-InstructionsONLINE.pdf
The User Guide will help you get the most out of the many enhancements incorporated into the Digital Edition.
To read the Digital Edition on either your iPad please follow the instructions below; To Download: 1. Click on the below listed URL: www.sdbj.com/digital 2. Click on the edition you wish to download (the editions for each paper are represented by an icon which appears on the Web page you access with the browser). 3. Wait as the selected edition is downloaded into your browser. Download progress is marked by a blue thermometer indicator in the URL bar of the browser. 4. The downloaded edition will appear in your browser
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