Stories for March 2011

Thursday, March 31

Digital TV Software Firm Acquires Partner

Verimatrix Inc., a San Diego firm that makes security software for the pay television industry, said March 31 it acquired Comvenient GmbH, a German firm that previously was its partner.

Region’s Economic Index Makes a Giant Leap

San Diego’s economy may be on the mend. In February, an index measuring the local economic data showed a gain of 1.9 percent, the biggest one-month jump since the data has been collected starting in 1977.

Wednesday, March 30

Sunstone Acquiring Hilton San Diego Bayfront Hotel

Sunstone Hotel Investors of Aliso Viejo is acquiring a majority interest in the 1,190-room Hilton San Diego Bayfront hotel for $475 million, marking the third major transaction of 2011 involving a large local hotel.

Tuesday, March 29

San Diego Home Prices Stay Flat

San Diego and Washington, D.C. were the only cities to show positive gains in their home prices over the year to January, according to the Standard & Poor’s/Case-Shiller Home Price Index released March 29.

Monday, March 28

Layoffs Coming to Nassco; Number Uncertain

Nassco/General Dynamics Corp., the San Diego shipbuilding and repair company, announced March 25 that it will lay off about 350 workers for several weeks starting in late May because of a federal budget stalemate.

Innovator’s Work in Defense Field Earns Him Place in Hall of Fame

RECOGNITION: Connect To Honor Longtime Local Businessman Gene Ray

Gene W. Ray, a longtime San Diego businessman and high-technology innovator, is set to be inducted into the Connect Entrepreneur Hall of Fame on March 31.

Bioenergy Crop Company Plants Its Flag in India

CLEAN-TECH: SG Biofuels Expands Efforts to Make Fuel

Super Green Biofuels Inc., which aims to make fuel from the inedible seed of the Jatropha plant, says it is expanding its operation into India

Hotel Market Positioning For Better Times Ahead


San Diego is leading the way in the recovery of the hotel market.

Construction Work to Start on Unstoppable Project

REAL ESTATE: Stalled For 20-Plus Years, $80M Development Progressing

After more than two decades of revisions and legal wrangling, construction will soon begin on the $80 million Mercado del Barrio, a mixed-use development that will bring affordable housing and the first major grocery store to San Diego’s Barrio Logan neighborhood.

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Development’s ‘Beach Urban’ Vibe Is Trendy

REAL ESTATE: Mixed-Use Pacific Station Gets Retail Tenants, Residential Buyers

After a nearly five-year process that had its share of economy-fueled disruptions, developers say they’ve received a better than expected response

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City Acquires Redevelopment Agency Properties

REAL ESTATE: Action Is Taken to Prevent State From Liquidating Assets

San Diego officials say future redevelopment projects won’t be hampered by the city’s recent move to take ownership of 133 properties, valued at more than $250 million, previously held by its redevelopment agency.

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Regional Report

News and notes from communities around San Diego County

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Real Estate Roundup

Real Estate Roudup

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

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Harbor Drive Pedestrian Bridge Finally Makes Its Connection

After more than two years of construction — hit with delays and cost overruns — the long-awaited, $26.8 million Harbor Drive pedestrian bridge in downtown San Diego welcomed its first walkers on March 18.

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Social Media Embraced as Companies Try to Get Their Arms Around the Concept

MARKETING: Creating a ‘Conversation’ With One’s Customers Is the Objective

With social media — the catchphrase for online sites ranging from YouTube, Facebook, Twitter, Foursquare and LinkedIn to the ratings sites like Yelp and the local pages on Yahoo and Google

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Health Care Reforms Slow to Impact Real Estate

GOVERNMENT: Public Sector Has Some Medical Construction Under Way

A year after landmark national health care reforms were signed into law, local observers say the impact on medical-related real estate has yet to be seen on a large scale.

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Kyoto Prize Gala to Honor Achievements and Support Scholarships

The Inamori Foundation and Kyoto Symposium Organization’s gala is set for April 4 at the Hilton San Diego Bayfront.

News in Brief

Space Micro Brings Home Federal Innovation Award

Space Micro Inc. said March 22 that it received the Tibbetts Award from the U.S. Small Business Administration. The award recognizes excellent work in technology, and goes to participants in the government’s Small Business Innovation Research program.

Those Failures Can Be Your Steppingstones on a Path to Success

One of my favorite mentors is Elbert Hubbard, the philosopher, printer and publisher. He wrote, “There is no defeat except in no longer trying. There is no defeat save within, no really insurmountable barrier, save our one inherent weakness of purpose.”

Crafting a Web Presence Is an Art and an Interactive Endeavor

TECHNOLOGY: Web Developers Know Peaks, Valleys of Virtual Terrain

Other than having the ability to offer a good user experience, there isn’t a set recipe for top-notch Web sites because each one is as unique as the combination of its host and visitors.

When Buying or Selling Firms, Talks Often Start Under the Radar

FINANCE: Big Deals May Culminate With Contracts In a New York Law Office

People buying or selling businesses frequently wind up in a law office conference room, or sequestered in a hotel suite. But take it from someone who’s been there: initial steps often happen in public, under the radar.

Businesses Help Program Step Up Its Efforts to Assist Nonprofits

PHILANTHROPY: Group Aims to Coordinate And Promote Worthy Causes

With donations from Eset North America and Mission Federal Credit Union, a program designed to promote nonprofits and their supporters is set to launch April 1.

Firm’s Social Media Savvy Helps Companies Capture Their Market

MARKETING: Parallel 6 Is Guide on High-Tech Hunt for More Customers

U.S. hunters face myriad rules imposed by federal and state agencies on what trophies they can bring home from exotic safaris abroad.

Prometheus Finds Profits in Pharmaceuticals

BIOTECH: Revenues Reach $519M; IPO Plans Still Unfulfilled

Prometheus Inc., the Sorrento Valley-based drug and diagnostics development company, reported its 10th profitable year in a row, according to a news release.

Startup’s Pitch Is ‘Such a Deal,’ In Judges’ Eyes

San Diego-based Deal Current, which claims to be the nation’s fastest-growing private label daily deal software company, was judged No. 1 at the March 3 San Diego Software Industry Council Shark Tank competition.

Dental Biotech Firm Departs With a Smile

PHARMACEUTICALS: Novalar Sells FDA-Approved Product

After finding a buyer for its only product, local dental biotech company Novalar Pharmaceuticals Inc. will cease operations at the end of the month.

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Wake-up call

FINANCE: Flurry of M&A Activity Puts Charge in Dormant Business Climate

Suddenly, a spate of regional businesses is in play, with San Diego companies participating on both sides of the table in recent merger and acquisition activity.

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Friday, March 25

Pediatric Care Center Opens in Oceanside

Health care providers Sanford Children’s Clinic, operated by South Dakota-based Sanford Health, and Rady Children’s Hospital of San Diego have opened a new pediatric care center in Oceanside.

Daphne’s Restaurant Chain Changes Name

Daphne’s Greek Café has changed its name to Daphne’s California Greek, the Carlsbad-based fast-casual restaurant chain announced March 24.

Jobless Rate Decreases in Year’s Shortest Month

Unemployment in San Diego County in February dipped to 10.1 percent, from January’s revised rate of 10.4 percent, according to the latest report from the state Employment Development Department released March 25.

Thursday, March 24

Poway Chamber Waives Fees, Offers Credits

The Poway Chamber of Commerce is waiving its $50 initiation fee for new members until March 31.

SAIC Quarterly Earnings Reach $132M

Defense contractor SAIC Inc. reported a net profit for its fourth quarter ended Jan. 31 of $132 million, up 7 percent from the like quarter of 2010.

Holocom Makes Move to Miramar

Holocom Inc. said March 23 it is consolidating a logistics center in Anaheim with its San Diego corporate headquarters, engineering and West Coast sales office into a new, 10,000-square-foot office in the Miramar area.

Space Micro Brings Home Federal Innovation Award

Space Micro Inc. said March 22 that it received the Tibbetts Award from the U.S. Small Business Administration.

Wednesday, March 23

Coronado First, Embarcadero Bank Announce Merger

Officials of locally based Coronado First Bank and Embarcadero Bank announced March 22 that they have signed a definitive agreement to merge the two financial institutions.

Tuesday, March 22

Stock Offering Nets $286M for REIT

Escondido-based Realty Income Corp., which invests in retail and related commercial properties, announced March 22 that net proceeds from its most recent common stock offering totaled approximately $285.5 million.

Monday, March 21

SeaWorld Resumes ‘Dine With Shamu’ Program

SeaWorld San Diego’s ‘Dine With Shamu’ program will return April 23 and will be offered on a year-round basis, the theme park announced March 21.

Jack Hits the Road With Fast-Food Truck

San Diego-based Jack in the Box Inc. has taken to the road with the debut of a new 34-foot-long food truck.

Cameron Schavee Brushes Teeth

This is the tease of the story.

Acquisition Starting to Pay Off for AMN

STAFFING: Deal, Growth of Core Business Line Lead to 52% Rise in Q4 Revenue

AMN Healthcare , a nursing and medical staffing firm, is seeing the benefits from last year’s acquisition of another medical staffing business in the form of higher revenue, although the deal isn’t resulting in profits just yet.

Things May Be Looking Up as Office Market Is on the Bottom

San Diego is by no means alone in having an office market that remains in the “bottoming” phase of its real estate cycle. In fact, the latest National Office Occupier Outlook report, by the brokerage firm Jones Lang LaSalle, categorizes nearly every major U.S. market in that mode.

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It’s Growing Season for Retailers, Restaurants

REAL ESTATE: Climate Favorable to Chains’ Expansion Nationally

National store and restaurant chains are looking to ride an improving retail climate by opening new locations, although experts note that high-profile expansion venues remain extremely limited in San Diego County.

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As Competition Mounts, Producers Shoot for Higher-Quality Video

MEDIA: Industry Faces Challenges as Folks Take Do-It-Yourself Approach

The proliferation of affordable camera devices mixed with the growing popularity of YouTube and similar do-it-yourself social media sites are leaving a lasting impression on the video production industry.

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Home Builders Are More Upbeat About Local Market

CONSTRUCTION: Del Sur Getting Larger Houses; ‘Old Gang’ Back at Work

The lumbering earth movers, not to mention the fluttering banners and flags, are back in action at the sprawling Black Mountain Ranch residential development, where the developer has plans for more than 3,000 homes sited on 4,700 acres north of state Route 56 and east of Interstate 15.

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Rising Fuel Prices Pump Up Fleet Management Businesses

TECHNOLOGY: Vehicle Monitoring Services Track

Fuel prices may be headed up, but fuel consumption is under control for customers of San Diego-based Networkfleet Inc., a unit of Atlanta-based Hughes Telematics Inc.

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Translator Has Good Words to Say About Providing Human Touch

SMALL BIZ: Technology

Burckhardt Rueffer does not expect Google to put him out of business. Not yet, at least.

Facility Helps Firm Increase Its Efficiency

TECHNOLOGY: ATK Uses Lean Manufacturing Approach For Aerospace Projects

Frank Bernas is escorting a guest across the poor at Alliant Techsystems Inc. ’s Miramar-area factory when they slow to let some workers pass.

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Rumors Circulate That Websense Is Exploring Sale

Stock traders swapped shares of Websense Inc., the Sorrento Valley Web security firm, at a brisk pace March 16 after rumors surfaced that the company was exploring a sale.

McKenna Long Hires Rival’s Entire IP Team

LAW: Stephanie Seidman, 17 Members, 20 Clients Depart From K&L Gates

The local office of McKenna Long & Aldridge LLP has recruited life sciences patent prosecuting powerhouse Stephanie Seidman — and all 17 members of her intellectual property team — from the law firm of K&L Gates LLP.

Local Firm Links Relief Workers in Japan to the Net

A local angle on the Big Story. San Diego’s XCom Global Inc., which rents portable electronic devices to U.S. travelers headed overseas so that they can access the Internet wirelessly (and inexpensively), is offering free access to emergency workers in Japan helping with massive disaster relief efforts there. The company will ship units overnight to workers in advance of their departure.

Solar Power Pact Brings Energy, Jobs to Region

ENERGY: Local Factory

A new solar energy contract involving San Diego Gas & Electric Co. is expected to help reduce air pollution, while creating up to 450 local manufacturing jobs on the ground.

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News and notes from communities around San Diego County

Carlsbad-based Orange 21 Inc., which produces Spy Optic glasses and goggles for the youth market, received a $1.17 million infusion from a private equity firm in late February.

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Officials have approved the transfer of ownership on 133 properties, valued at more than $250 million, from San Diego’s redevelopment agency directly to the city.

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

Miramar College recently celebrated a grand opening of two of its newest classroom buildings — the Humanities & Arts building and the Mathematics & Business building.

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Opportunities to Export to Singapore Accelerating

In January 2010, President Obama announced the National Export Initiative, or NEI, which aims to double U.S. exports by 2015 while supporting millions of new American jobs.

Twilight in Tuscany Brings Home Big Donation for Hospital

Twilight in Tuscany, the 102nd anniversary charity ball, was held on Feb. 19 at the Hotel del Coronado.

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executive profile

Mark Albers

Mark Albers is the director of Merrill Lynch Wealth Management for San Diego, which includes offices in San Diego, La Jolla, Rancho Bernardo and University Towne Center. Merrill Lynch provides comprehensive wealth management and a range of products and services for individuals and institutions.

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WORK FORCE: Program Aims to Improve Residents’ Aims to Improve Residents’

Nick Macchione , director of the Health & Human Services Agency for the County of San Diego , is on a quest to improve the health of the county’s 3 million residents — and he’s seeking help from businesses.

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The Standard Budget Process Should Be Replaced

As California confronts years of wrenching financial challenges, it is time for state legislators to make good on their pledge to make bold changes to the way our state operates. We

Friday, March 18

Borders to Shutter Carmel Mountain Store

Struggling retailer Borders Group Inc. has added a third San Diego County location to its list of more than 200 stores that it will close as part of a Chapter 11 bankruptcy filing.

Harbor Drive Bridge Opens to Pedestrians

The recently completed Harbor Drive pedestrian bridge in downtown San Diego is now officially open, the city’s downtown redevelopment agency announced March 18.

Wednesday, March 16

City Transfers Ownership of Redevelopment Properties

Officials have approved the transfer of ownership on 133 properties, valued at more than $250 million, from San Diego’s redevelopment agency directly to the city.

Tuesday, March 15

DJO to Acquire Therapeutic Footwear Maker

Vista-based DJO LLC said March 15 that it has agreed to buy Wisconsin-based Rikco International LLC for $254.6 million in cash.

Ace Parking’s Expansion Extends Into Nebraska

San Diego-based Ace Parking Management Inc., among North America’s largest privately owned parking management companies, has expanded its operations to Omaha, Neb.

Monday, March 14

Fallbrook Takes Wraps Off Joint Venture

Fallbrook Technologies Inc. said March 14 that it has forged a joint venture with Ningbo Shentong Group, a Chinese auto-parts manufacturer.

BioMed Declares Dividends on Common, Preferred Shares

BioMed Realty Trust Inc., a San Diego-based investment firm focused on life-sciences real estate, announced March 14 that its board of directors has declared a first quarter 2011 dividend of 20 cents per share of common stock.

Region Will Have to Live With Economic Consequences of Housing Sector Choices


There is now some definition of how and when the housing market will recover. I am predicting a slight increase in pricing by the end of the year — perhaps a year-to-year 5 percent increase.

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Generous Donors Put This Foundation in a Fortunate Position

The Jewish Community Foundation San Diego reported a 67 percent increase to its donor advised funds and family foundations for 2010.

News in Brief

San Diego Mayor Jerry Sanders and San Diego Chargers President Dean Spanos met March 7 at the Chargers’ training facility in Kearny Mesa, but that was the extent of the news.

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News and notes from communities around San Diego County

News and notes from communities around San Diego County

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Bank Chalks Up $3M Loss to Failed Attempt at Appeasing Regulators

Torrey Pines Bank has given up trying to sell its affinity credit card division called Partners First and took a $3 million loss in its fourth quarter because of that decision.


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

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

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Eateries to Serve Up Burgers, Pizzas With a Side of Technology

HOSPITALITY: Diners to Order, Pay for Food Using IPads on Restaurant Tables

Mobile technology is a key ingredient in a restaurant concept coming to Fashion Valley mall.

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Technology Takes on April 15 With New Products

Finance: Intuit’s Local TurboTax Unit Introduces Two Electronic Systems

Ever seeking new ways of making the oft torturous but necessary onus of filing income taxes easier, Intuit Inc.’s TurboTax came out with some new products certain to lure early adopters.

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Competing Firms Merge, Create National Presence

CONSTRUCTION: DYK Joins Rival Company; No Jobs to Be Eliminated

DYK Inc., an El Cajon-based maker of concrete water storage tanks, has joined forces with a longtime industry rival to form DN Tanks Inc.

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Executive Profile: George H. Rogers III

George H. Rogers III is chief executive officer of RQ Construction LLC, a specialist in the design and construction of facilities for the Department of Defense.

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Executive Profile: Brian Joseph

After 24 years in operation, the Chula Vista Nature Center is far from the new kid on the block. Yet, this “zoo” and “aquarium” on San Diego Bay and the Sweetwater Marsh National Wildlife

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Sober Analysis Is Strength of ‘Tequila Talk’

Mexico. So close, yet so far. And so fascinating, especially its struggling economy.

Green Guidelines Give Builders a Map to Making a Difference

CONSTRUCTION: Some Contractors Blaze Own Trail on Saving Energy

With the recent introduction of a statewide green building code and planned updates to the U.S. Green Building Council’s rating system, local building industry professionals are aiming higher to achieve the next level of energy-efficient standards.

Qualcomm Gains on Stock Front; Digital Wars Heat Up

TECHNOLOGY: Giant Displays Record Financial Results at Annual Meeting

The guys running Qualcomm Inc. may be running scared, but in business that’s a good thing.

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Santarus Stockholders Get Their Share of Disappointing News

BIOTECH: FDA Rejects Product, Sales Decline; CEO Predicts Better Times

Santarus Inc. stockholders weren’t exactly hopping for joy after the U.S. Food and Drug Administration declined approval Feb. 26 of a product based on a new treatment for hereditary angioedema, or swelling of the face and airways, derived from rabbit’s milk.

Opportunity for Expansion Rises in Far East for Life Sciences Company

BIOTECH: Asian Market

Life Technologies Corp. has joined a growing group of local biotech firms continuing to invest in Asia. The Carlsbad company announced that it has opened a 62,300-square-foot distribution center

Stock Ownership Plans Boost Staff Productivity

FINANCE: Profit-Sharing Strategy Can Also Be Used To Manage Tax Payouts

Things have been going well for employees at Indus Technology Inc., but they became even better after the local defense contractor adopted a plan that gives them a direct stake in the business.


WORK FORCE: Quality People a Key Reason Jack, Qualcomm Are Based Here

Some San Diego County companies stay where they are first planted, and flourish.

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S.D. Companies Building Overseas Portfolios

CONSTRUCTION: With Little Work to Be Found Countywide, Businesses Land Jobs in China

Overseas construction projects have been crucial to some locally based firms as they weather San Diego County’s lingering slowdown in most building sectors.

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View of Local Hotel Market Sees the Sales Surge Continuing

A combination of improving fundamentals and rising investor demand brought a surge of California hotel sales in 2010, and conditions appear ripe for a continuation of that dynamic in San Diego County this year.

In a Very Unusual Move, Congress Cleans Up Its Act(s)

While Congress continues to debate the budget and other legislation, a minor miracle occurred.

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Building Owners See a Kaleidoscope of Paybacks on Green Retrofits

CONSTRUCTION: Aim Is to Reduce Energy Bills, Add Value to Properties

The current recession poses an ongoing challenge for conservationists and commercial building owners who see a need for greener, more environmentally sustainable workplaces.

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Friday, March 11

Shipshape or Shabby? Embarcadero Plans Up for Scrutiny

The Port of San Diego will hold the first in a series of Citizens Advisory Committee meetings to begin planning for improvements to downtown San Diego’s North Embarcadero waterfront district.

Harlingwood Takes Stake in Orange 21

Carlsbad-based Orange 21 Inc., which produces Spy Optic glasses and goggles for the youth market, received a $1.17 million infusion from a private equity firm in late February.

Thursday, March 10

Dumanis to Make a Bid for Mayor

San Diego County District Attorney Bonnie Dumanis declared her candidacy for San Diego mayor in a recent posting on her Facebook page.

Wednesday, March 9

Port Approves Sale of Manchester Grand Hyatt

Port of San Diego officials have cleared the way for a $570 million sale of the Manchester Grand Hyatt to Host Hotels & Resorts Inc.

Tuesday, March 8

ISE Says Shareholders Not Likely to Get a Return

ISE Corp., a Poway maker of hybrid electric drive systems for trucks and buses, said in a March 8 securities filing that it sold the firm’s assets in a bankruptcy court approved auction for $3.72 million.

State Office Says Redevelopment Agencies Don’t Track Job Impacts

California redevelopment agencies either don’t track or have arbitrary methods for gauging their impact on job growth, according to a newly released state study of 18 agencies, including the city of Coronado’s.

Astute Wraps Up $13M Financing Round

Astute Medical, a San Diego-based medical diagnostic company, said March 8 that it completed a $13 million financing round, which was an extension of a $12.5 million round completed in May.

Monday, March 7

Mayor and Chargers Confer as Political Landscape Changes

San Diego Mayor Jerry Sanders and San Diego Chargers President Dean Spanos met March 7 at the Chargers’ training facility in Kearny Mesa, but that was the extent of the news.

Fallbrook Technologies Shifts Gears, Makes Acquisition

Fallbrook Technologies Inc., a San Diego maker of gearless transmissions, said March 7 it acquired Hodyon LP, a Texas business that makes energy efficient products. Terms of the deal were not disclosed.

Realty Income Has $544M Shopping List

Escondido-based investment firm Realty Income Corp., which is focused primarily on retail and related real estate, announced March 7 that it plans to acquire up to 33 properties in 17 states for approximately $544 million.

Create a Land-Use Policy for Peaceful Coexistence Between Military and Energy Firms

The Department of Defense faces pressures from many sides. It must meet global commitments and random challenges.

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Grant Helps Youth Club Provide an Encouraging Environment

The Boys & Girls Clubs of San Dieguito’s Griset Branch received $50,000 from the county through the Neighborhood Reinvestment Program.

Real Estate Roundup

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

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Regional Report

News and notes from communities around San Diego County

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Professional Profile: Bruce Shepherd

Bruce Shepherd is a real estate finance partner in the San Diego office of Latham & Watkins LLP.

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SBA Program Aims to Support Next Generation of Great Firms

The federal government is finally waking up to the idea that there’s a better way to help turn around the lousy economy.

Mad Catz Acquires V Max, A Flight Simulator Specialist

Mad Catz Inc., a San Diego maker of accessories for video games, said Feb. 28 it acquired the assets of V Max Simulation Corp., a California provider of flight simulation services, in a stock and cash transaction valued at about $638,000.

Bond Market Shows a Healthy Interest in Health District’s Issue

FINANCE: Funds Will Go to Improvements at Sharp Grossmont Hospital

Who says the muni bond market is dead, or too risky?

Elliptical Bike Company Takes Slow Road to Building a Business

MANUFACTURING: Product Sales Moving Ahead Internationally

The creators of the first mobile elliptical machine aren’t impulsive guys, at least when it comes to building their business, ElliptiGO Inc.

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Growing Appetite

HOSPITALITY: Some Restaurant Chains Target San Diego County As a Good Place to Expand

Large restaurant companies are cautiously negotiating the economy’s gradual rebound as they plan to expand, and San Diego County remains an appetizing target market.

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Software Provider Smooths Topsy-Turvy Mortgage Lending Process

BANKING: Automated Systems Have Safeguards to Help Prevent Risky Loans

Rob Katz recalled working at a now defunct mortgage bank about a decade ago, talking about subprime lending.

Abundance of Innovative Discoveries Leads To Region’s Growing Number of Patents

TECHNOLOGY:Sony, Qualcomm, HP Among Area’s Top Patent Producers

Cytori Therapeutics Inc.’s latest regenerative medicine-related patents are reflective of a growing number of patents being produced locally.

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Couple Pledge $10 Million for UCSD Research

PHILANTHROPY: The Family’s Experience With Illness a Motivating Factor

Qualcomm Inc. President Steve Altman and his wife, Lisa Altman, have pledged $10 million to UC San Diego.

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Facebook Legal Wrangle Has Local Connection

If you’ve seen “The Social Network,” Hollywood’s take on how Facebook got launched, you know all about the 30-year-old Winklevoss twins, Cameron and Tyler.

Partnership Will Put More Power Behind Chula Vista Development

Developers say the long-discussed Millenia, billed as a 210-acre “urban epicenter” of homes and commercial amenities in eastern Chula Vista, may now have the crucial element to push it forward — a new equity partner.

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Council’s Action Fuels Feud Over Preserving Redevelopment Agencies

GOVERNMENT: State Moves Forward With Plans To Take Control of $1.7B

San Diego City Council’s move to approve $4.1 billion in redevelopment projects likely won’t be the last word in the battle over Gov. Jerry Brown’s proposal to eliminate the state’s 325 local redevelopment agencies.

Slower-Than-Expected Transition to 4G Hurts Novatel Wireless


Novatel Wireless Inc.’s weak forecast for the first quarter of 2011 sent shares heading south in the last trading days of February. The technology company, which makes wireless modems and routers for cellular carriers, reported Feb. 24 a fourth-quarter loss of $532,000, or 2 cents a share, on revenues of $119.3 million, compared with a year-ago loss of $1 million, or 3 cents a share, on revenues of $88.6 million.

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Cassidy Turley BRE’s New Leader Sees Opportunity

REAL ESTATE: Chosen for Ability to Strengthen Teams, CEO Focuses on Growth

With real estate markets in a gradual recovery, the new chief of local brokerage firm Cassidy Turley BRE Commercial says his long-term priorities include growing the firm’s brand beyond highly competitive San Diego County, possibly to markets such as Orange County and the Inland Empire.

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Milder Flu Season Has Chilling Effect on Quidel’s Revenues

MANUFACTURING: Company Is Major Player in $47 Billion In Vitro Diagnostic Market

The lack of a flu season in 2010 didn’t bode well for Quidel Corp.’s bottom line. The public company provides screening tests for reproductive conditions and infectious diseases, including the flu.

Friday, March 4

Jobless Rate Crept Higher in January, to 10.3 Percent

Despite signs the economy is rebounding, San Diego’s jobless picture deteriorated in January with the unemployment rate increasing to 10.3 percent from a revised 10.1 percent in December, according to the March 4 report from the state’s Employment Development Department.

Thursday, March 3

Fannie Mae’s Top Executive Says Agency’s Fate Is Up for Debate

Real estate professionals seeking some insight into what Fannie Mae plans for its future left without many answers from Fannie’s top executive, Michael J. Williams, who spoke at a March 3 conference at the Hilton San Diego Bayfront Hotel.

Wednesday, March 2

Foreclosure Firm Ramping Up Operations

San Diego’s New Vista Asset Management said March 2 it acquired the real estate owned management unit of REDC Default Solutions LLC, which is a subsidiary of Irvine-based LLC, for an undisclosed price.

Cassidy Turley Names CEO

Local real estate brokerage firm Cassidy Turley BRE Commercial has tapped Daniel Broderick as its new president and chief executive officer, effective March 3.

Tuesday, March 1

Angel Investor Group Spread $40M in 2010

Tech Coast Angels, with five networks in Southern California including San Diego, said it raised more than $40 million in total investments last year that it distributed to 31 companies.

Student Count and Net Income Grow at Bridgepoint Education

Bridgepoint Education, the San Diego for-profit online college business, reported fourth quarter net income of $26.3 million on revenue of $192.4 million in a news release issued March 1.