Stories for January 2019

Thursday, January 31

PriceSmart Names Shery Bahrambeygui as Chief Executive Officer

Bahrambeygui has worked with PriceSmart in various capacities for 16 years including as member of the Board of Directors for the past eight years.

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Munich Court Tosses Four of Qualcomm's Patent Cases

A court in Munich tossed out four of Qualcomm's patent cases against Apple Inc.

Gossamer Bio Back to a Traditional IPO Path

With the government shutdown over, Gossamer Bio is expected to take a traditional path to an initial public offering, abandoning a plan to sidestep the U.S. Securities and Exchange Commission.

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Luma Showcases the Vibe, Views And Luxury of Little Italy Living

San Diego’s booming Little Italy neighborhood has a new apartment tower — Luma.

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Carlsbad Messaging Company for Hotels Raises $11 Million

Zingle raised $11 million from PeakSpan Capital, that it will use to build out its messaging platform for the hospitality industry.

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U.S. Marine Corps to Use Cubic Computer Gear

Cubic Corp. said on Jan. 31 that it will provide data networking gear to the U.S. Marine Corps as part of a contract awarded to Virginia-based iGov. Under the five-year contract, Cubic said its Cubic Mission Solutions subsidiary expects to deliver thousands of its DTECH ruggedized computer and networking modules for iGov’s small form-factor solution.

Oceanside Industrial Building Sold For $3.5M

Building will be used for Sadie Rose Baking Company

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San Diego Firm Brokers $19.8M Garden Grove Industrial Building Sale

Buyer plans to add warehouse space

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Wednesday, January 30

Qualcomm Posts Better-Than-Expected Earnings as FTC Trial Nears a Close

Qualcomm's CEO continues to forecast the company will reach a resolution to its legal battle with Apple in 2019.

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Co. to Bet $100M on Corporate Shift to Flexible Office Space

San Diego’s coworking market shows no sign of slowing, as established names and new faces alike continue to open more shared office space throughout the metro. But one Carlsbad company is chasing after an even broader target: big enterprises.

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Kratos Controls Satellite in Tech Demonstration

Kratos Defense and Security Solutions Inc. announced on Jan. 30 that it successfully demonstrated a satellite control technology. Specifically, Kratos software commanded a spacecraft using the U.S. Air Force’s Enterprise Ground Services framework, and demonstrated that its technology was mature.

Carlsbad Airport Plaza Sold For $14M

Building was recently renovated

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Loan of $19.5M Secured For Del Mar Corporate Plaza

Two office buildings were renovated in 2017

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BBB Serving the Pacific Southwest Appoints Board Chairman

Eight other new Southern California and Greater Arizona business leaders are serving on the 45-person non-profit board, including Ryan Buell, CEO of San Diego-based Sayva, a consulting and recruiting firm and Marcia Mcgaffigan, a partner at Healthcare Savings Associates located in Encinitas.

Tuesday, January 29

Neurocrine Bags Gene Therapies for $165 Million Upfront

San Diego-based Neurocrine will pay Voyager Therapeutics $165 million upfront as part of a larger pact, it was announced Jan. 29.

Illumina Reports Q4 Results

Illumina reported an 11 percent increase in fourth quarter revenue after the market closed Jan. 29.

Event Puts the Spotlight on Stellar CFOs

Know someone who has a thing for numbers? Someone who works behind the scenes to keep the business on an even keel? Nominations for the San Diego Business Journal’s “2019 CFO of the Year Award” are being accepted through midnight Feb. 15.

Axos Financial Acquires COR Clearing

Axos Financial Inc. said on Jan. 29 that it closed its acquisition of COR Clearing LLC of Omaha, Nebraska. Final terms of the deal were not disclosed; however, Axos told investors in October that it expected a purchase price of $76 million and debt payments of $9 million.

Phil's BBQ Buys Temecula Building For $3.2M

First location beyond San Diego County

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Local Solar Integrated Roofing Corp. to Acquire South Orange Roofing Company

In a news release, Solar’s CEO David Massey said the company has two other acquisitions on track to close in January.

Collins Aerospace Gives 2 Months’ Notice to 66 Workers

Collins Aerospace notified the San Diego Workforce Partnership that it will lay off 66 employees at its Chula Vista plant on March 29. Notification came in a letter dated Jan. 28. While manufacturing will come to an end in Chula Vista, the facility is not closing, according to the subsidiary of United Technologies.

Executive Q&A: Brian Malarkey of Puffer Malarkey Collective

Chef Brian Malarkey doesn’t shy away from the spotlight.

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Monday, January 28

San Diego Cleantech Accelerator Awarded $1.5M Grant

The Southern California Regional Energy Innovation Network won a $1.5 million grant to expand its programs

Sempra to Sell South American Utilities, Sharpen Focus

Sempra Energy announced on Jan. 28 that it plans to sell its businesses in Peru and Chile by the end of 2019.

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Visitors Find Sights, Sounds and Tastes Steal the Show at Venues

Although two of San Diego’s newest and hottest entertainment venues have the word “Box” in their names, they are not connected. They are collectively, though, bringing the crowds out in downtown.

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Everbowl Secures $3 Million in Funding from Serruya Private Equity

According to a news release, the company will use the funding towards its 2019 expansion plan in California and possibly entering the Arizona, Nevada market along with other states in the region.

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Cosmetology Schools Help Meet The Demand for Next-Gen Stylists

After working for 30 years as a bookkeeper for her family’s sheet metal paint shop, Rosemarie Royce decided to go back to school and learn a trade she had loved since she was a small child — she enrolled in cosmetology school.

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Cubic Renovates San Diego Manufacturing Space

Cubic Corp. is wrapping up renovations of the space where it manufactures military training gear, paving the way for future manufacturing in San Diego.

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Carlsbad Retail Building Sold For $3.7M

Building is fully leased

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New CEO Named at Histogen

Histogen, a regenerative medicine biotech in San Diego, has a new CEO and chairman.

North Park Apartments Sold For $2.1M

Complex has seven apartments

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Sunday, January 27

Tariffs Bring High Cost Of Undoing Business

TRADE: U.S.-China Trade War Takes Toll on Mid-Size Cos.

Juiced Bikes celebrated opening its first factory in China just over a year ago. The electric bike company, which has about 20 employees at its Chula Vista headquarters, had big plans for growth.

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FTC Trial Could Redefine How Qualcomm Does Business

The outcome of the Federal Trade Commission’s antitrust trial could ultimately change how Qualcomm Inc. licenses its technology to device-makers. It could also set the tone for how Qualcomm approaches one of its biggest customers, Apple Inc.

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Pacific Beach Apartments Bring $3M

Complex has six apartments.

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Pacific Beach Apartments Sold For Nearly $2.9M

Complex has eight apartments.

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Santa Monica Coworking Company Acquires DeskHub

Santa Monica-based Cross Campus acquired DeskHub, a coworking company with offices in Little Italy.

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New Study Shows Small Businesses Have Big Footprint in S.D.

Small businesses in San Diego account for the majority of its workforce, about 59 percent, according to a new study.

Shipyards Compete for Work on Cruisers, Destroyers

The U.S. Navy inked ship maintenance agreements with three major shipyards in the Port of San Diego. BAE Systems San Diego Ship Repair, Huntington Ingalls Industries Inc. and General Dynamics NASSCO will now bid on work valued at up to $90.3 million.

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La Jolla Institute for Immunology Awarded $22 Million Contract Renewal

Through a re-upped $22 million contract, the La Jolla Institute for Immunology will keep running — and expand — a database popular with researchers developing new treatments and vaccines.

Find Luxury and Invigorating Beauty Nestled in Rural Seclusion

Bonsall is an idyllic community in the foothills of the Peninsular Mountain range about 40 miles from downtown San Diego, west of Interstate 15 and 11 miles as the crow flies to the ocean. Nestled in between the northeast edge of Vista to the south and Fallbrook to the north, the town was founded in the late 1800s and named after James A. Bonsall, a local minister.

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Increasingly, You Can Find Technology and Men at the Salon

TECH: Software Tackles Business Aspects As Apps Bring Styling Up to Date

As the beauty industry evolves, becoming more professional and business-focused, beauty schools are adapting as well, using both new technology and methods to train their students, said school officials.

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Affirmed Buys Lot for Planned 7-Story Apartment

Affirmed Housing has acquired a Cortez Hill parking lot for nearly $3.8 million with plans to use it as the site for an affordable housing project.

Working Out Bugs of New Carrier Systems Is No Pleasure Cruise

The U.S. Navy is poised to place orders for two aircraft carriers in the Gerald R. Ford class.

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Bill Walton Dinners Are Slam Dunk Fundraisers

The Boys & Girls Clubs of Carlsbad announced that a dinner for 10 with Bill Walton was held at Vigilucci’s Trattoria in Leucadia. The dinner for 10 with Bill Walton was auctioned off at the group’s annual gala last fall. It sold for $10,000 — and was so popular that a second dinner was added and sold immediately.

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Sundt Foundation Grants Bring Meals And Much More to the Community

The Sundt Foundation announced that during its fourth quarter distribution it donated $5,000 to Feeding San Diego to support 40 school food pantry sites across the county.

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Abide Therapeutics Names New COO

Abide Therapeutics – headquartered in San Diego — has a new chief operating officer: Kevin Finney.

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Genetics Organizations to Merge Platforms

LunaPBC — a Solana Beach startup that in December launched a first-of-its-kind platform that gives shares for contributing DNA data — is joining forces with a like-minded nonprofit.

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San Francisco Conference Draws Complaints; Some Call for Move

Upward of $21 for a cup of coffee. Hotels as much as $2,000 a night. And $300 for a three-hour slot at a hotel lobby table.

For Rescue Agency, It Pays to Think Small for Campaigns

MARKETING: Co. Avoids Sector Habit of Going Big; Focus Key Part of Connecting

The moment Jeffrey Jordan realized his social change advertising firm, Rescue Agency, was special is still very prominent in his recollection.

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You Can Hang a Star on Credit Union’s Holiday Delivery

Mission Federal Credit Union “elves” were able to strike again at the Annual Christmas Tree Donation at the San Diego Center for Children. More than 27 trees were donated across the San Diego Center for the Children’s eight program sites in order to bring much needed holiday cheer to the children and families they serve.

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New Leadership Team Ready To Guide and Grow SDAR

The Greater San Diego Association of Realtors, or SDAR, announced that Kevin Burke was named to a one-year term as the 2019 president. Burke and the 2019 leadership team were installed on Jan.11 at a luncheon at the Hilton San Diego Bayfront.

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ASLA-SD President Readies for Big Role in 2019

The American Society of Landscape Architects, San Diego Chapter, or ASLA-SD, selected Philip Armstrong as its president in 2019.

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Sears’ Exits Open Door For New Opportunities

PROPERTY: Retail Sector Seen as Stable in S.D. for 2019

A former Sears store at El Cajon’s Parkway Plaza is being redeveloped with a variety of retailers taking portions of the space and plans are in the works for a similar redevelopment of a former Sears store in the Chula Vista Center mall.

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Molecular Flu Test Ready to Compete

HEALTH: Rapid Results, Simplicity Are Selling Points

A widespread desire for quicker and more accurate flu diagnostics has buoyed San Diego’s Mesa Biotech.

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December Home Sales Are Down 19.9%

Home sales took a sizable drop in December, according to the Greater San Diego Association of Realtors — dropping 19.9 percent from December 2017 for single-family homes and 32.5 percent for condominiums.

Ampersand Move Punctuates Qdoba’s Ownership Change

Qdoba Mexican Eats is moving its corporate headquarters to Ampersand, the former home of The San Diego Union-Tribune.

Thursday, January 24

Mollenkopf Gets $6M in Options After Leading in Tough Year for Qualcomm

Qualcomm CEO Steven Mollenkopf was granted $6 million in stock options tied to the company's performance.

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Harper to Build Training Facility for Marine Corps Reserve

Harper Construction Co. Inc. beat out two other bidders to receive a $17.3 million task order to build a Marine Corps Reserve Training Center and vehicle maintenance facility at Naval Weapons Station Seal Beach.

Estate Planning Startup Raises $2 Million

Trust & Will, a San Diego company with an online system for creating trusts, wills and other estate-planning paperwork, raised $2 million in seed funding.

Cybersecurity Startup AttackIQ Hires Two Executives

Attack IQ, a San Diego cybersecurity company, added a new chief information security officer and vice president of engineering.

ResMed Reports Second Quarter Results

San Diego’s ResMed posted quarterly earnings of 86 cents per share, with adjusted earnings of $1 per share.

LunaPBC to Merge Platform with Genetic Alliance

LunaPBC — a Solana Beach startup that in December launched a first-of-its-kind platform that gives shares for contributing DNA data — is joining forces with a like-minded nonprofit.

Wednesday, January 23

Gossamer Finds a Way Around Government Shutdown for IPO

Gossamer Bio will take an alternative path to going public on account of the government shutdown stalling initial public offerings, per a Jan. 23 filing.

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National Grocers Association to Bring NGA Show to San Diego

The annual trade show and conference, in its 31st year, will be held at the San Diego Convention Center from Feb. 24-27.

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HFF Arranges Hotel Sale For $25.5M

Hotel was built in 2002

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Tech Cos. Look to Woo, Wow Talent in Competitive Sector

WORKFORCE: Hiring Is Leading to Battle of Benefits and Amenities

The competition for tech talent is heating up in San Diego. With more corporate giants establishing offices in the area, local companies are having to go the extra mile to attract experienced engineers.

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Tax Changes Don’t Appear to Be Affecting Local Giving

FINANCE: Effects May Have Bigger Impact On Mid-Level Donors

Passage of the Tax Cuts and Jobs Act in 2017 came with some speculation that the law would put a damper on charitable giving.

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Port of San Diego Seeks Proposal for Economy Motel

According to the Port of San Diego website, the lower cost overnight accommodations will be located near downtown San Diego and the San Diego International Airport and will provide affordable coastal access.

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Tuesday, January 22

Solana Beach Signs Up for Green Power

The Solana Beach city government approved a three-year deal to buy energy that does not come from sources that create greenhouse gases. The move comes as other California cities take the same step, and as San Diego lawmakers move to put their city on the same path.

AtYourGate Tests Its Wings At Other Major Airports

A year after officially kicking off at San Diego International Airport, the locally based in-airport food delivery service, AtYourGate, continues to expand.

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A Taxing Journey

Forget Guessing or Even Googling to Navigate New Tax Law, You Are Going to Need Expertise

The Tax Cuts and Jobs Act of 2017 is many things. It is big. Its changes are sweeping.

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Co. Must Fix Airplanes And Mistakes to Survive

TRAVEL: Competitive Market, Pilot Shortage Add to Woes

In its long story yet thus far stunted trajectory, California Pacific Airlines, the commercial service carrier owned by 97-year-old entrepreneur Ted Vallas, has had nothing short of a bumpy ride.

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Consistency Cements Customer Retention

DINING: Restaurant Group Knows Each Visit Counts

For co-owner and Executive Chef Brad Wise and his Trust Restaurant Group, things have been moving rather fast.

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SDBJ INSIDER: Diversifying Can Help Insure You Against Politics

About two weeks before Jennifer Barnes was going to get a $100,000 U.S. Small Business Administration express loan, she got some bad news: Because of the partial government shutdown, her loan wasn’t going to fund.

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New Chief of Staff Named at Scripps Mercy Hospital

Dr. Megan Hamreus now leads a 1,100-member physician team at Scripps Mercy Hospital’s two medical campuses.

Monday, January 21

San Diego Vet Software Startup Raises $12 Million

PetDesk, a San Diego platform for veterinarians, raised $12 million to expand to groomers.

Catching A Break

TOURISM: Delays Lead to Local Ownership for New Hotel Planned in Encinitas

Back in 1989, some developers had a plan to build a fancy hotel on a seaside Encinitas bluff overlooking the ocean and South Ponto Beach.

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NASSCO Adds Robot Welders to Help Build Ships

Anticipating continuing work building ships for the U.S. Navy and commercial clients, General Dynamics NASSCO has constructed and equipped a new facility to fabricate steel components for ships.

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Executive Q&A: Matt Ellis, Measurabl CEO

Matt Ellis founded Measurabl in 2013. A former director of sustainability solutions for commercial real estate company CBRE, he created Measurabl based on the challenges he encountered in getting accurate sustainability data. The company’s software is designed to generate accurate, easy-to-read reports for real estate companies, by automatically pulling in utility and waste data and other metrics.

Former Blackberry COO Founds AI Company in San Diego

AlwaysAI, a Solana Beach company that makes tools to help developers use deep learning computer vision, raised $4 million in a series A round.

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Ballast Point Opens Brewpub in Anaheim's Downtown Disney District

According to a press release, the brewpub, which offers more than fifty styles of beer, marks the first time a brewery has opened at Downtown Disney District.

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Engineering Society Honors Anokiwave Founder

Nitin Jain, a founder of San Diego based chipmaker Anokiwave Inc., has been named a fellow of the IEEE, or Institute of Electrical and Electronics Engineers. The award recognizes leadership in the development of physics-based models for millimeter wave system-on-chip integrated circuits.

CUSTOM CONTENT: Insurance Due Diligence Matters

Every company that has partici­ pated in a merger or an acquisi­ tion (M&A) under­ stands the importance of traditional financial due diligence to ensure it knows what obliga­ tions it is assuming, the nature and extent of the target company’s contingent liabilities, real and intellectual property issues, litiga­ tion risks and much more.

Sunday, January 20

Tower 180 Aims to Be Contender In the Downtown Market

PROPERTY: Amenities, Style and Even Tenant Roster Add to In-Demand Location

A down-and-out office tower in the heart of downtown San Diego is getting a dramatic remake and a new name by a developer who said it’s turning this once grand structure into top-notch office space that will command top rents.

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San Diego Businesses Found Lacking in Female Board Members

Under a new law, California public companies must have at least one woman on their board by the end of 2019. It appears the biggest impact will be in San Diego.

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Retail Use Planned for former Nightclub

Nightclub will be renovated for retail use

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Ten-Year Lease Signed on Industrial Building

Lease is for 10 years

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Best Buy to Close La Mesa Store

According to a WARN filing, 26 full-time employees and 38 part-time employees, for a total of 64 people, will lose their jobs as a result of the closure.

Business Calendar for January 21, 2019

Events scheduled in the county.

Saving Lives Is Good Reason To Celebrate for Foundation

Scripps Health Foundation continued a cherished holiday tradition Dec. 1, when it hosted the 89th Annual Candlelight Ball at the Fairmont Grand Del Mar.

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TuSimple Keeps on Truckin’ To Stay Ahead of Competitors

TuSimple, a San Diego-based company that makes self-driving trucks, will grow its fleet of autonomous haulers from 11 to 40.

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Digital Real Estate Co. Raises $13.5M Series A

Home Bay Technologies, a San Diego-based digital real estate company, raised $13.5 million in a Series A round.

Startup Lands $30M in Funding From Amazon and Samsung

A Rancho Bernardo startup’s idea for tiny, sticker-sized sensors caught the attention of three big investors.

Holiday Party With a Purpose Focused On Helping At-Risk Young Women

The San Diego Women’s Foundation, a nonprofit organization dedicated to educating and inspiring women to engage in collective philanthropy, raised more than $2,000 for The AjA Project at the foundation’s annual “Holiday Party with a Purpose” celebration.

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Credit Union Joins the Teams At Cal State San Marcos

Mission Federal Credit Union is continuing its successful partnership with California State University San Marcos by announcing its collaboration with CSUSM Athletics.

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Tutors Can Help Change a Life Story With Their Efforts

The Walter J. and Betty C. Zable Foundation has awarded a $20,000 grant to San Diego Oasis to support its Intergenerational Literacy Tutoring Program for at-risk, elementary school students in Title One schools who have fallen behind in reading and comprehension.

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Co.’s Donations Go From Teddy Bears to Tech Support

Managed Solution, a technology solution company, announced that during the holiday season, its team gave back to the community working with several local nonprofits. This holiday season it supported: Jacobs & Cushman San Diego Food Bank that provides nutritious food to people in need, advocates for the hungry, and educates the public about hunger-related issues.

Realtor Association Builds Up Holiday House’s Resources

The Greater San Diego Association of Realtors Ambassadors Foundation announced that it donated $5,265 to Operation Homefront during its holiday fundraiser. Realtors from across San Diego County collected toys and gift cards for families of the men and women who serve our country to fill the “Holiday House.”

Public-Private Partnership Helps Fund Superbug Fight

Forge Therapeutics recently took in more funding — up to $11.1 million — to battle life-threatening infections called “superbugs.”

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Mirati Shines at Healthcare Conference

At the annual J.P. Morgan Healthcare conference, major San Diego players like Illumina naturally command attention. But quietly, Mirati Therapeutics had a strong showing.

Friday, January 18

CUSTOM CONTENT: Is Your 401(k) Plan Participation Hindering Your Company’s Growth And Profitability?

Are you concerned that only 30% of your workforce can afford to retire at age 65? If you are like most business leaders, you hope your employees will take advantage of the 401(k) plan you’ve made available but don’t feel you need to aggressively encourage participation. Here is why you should.

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Thursday, January 17

Encinitas Marketplace Sold For $43M

Retail center has national and regional tenants

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Online Lender Applied Data Finance Raises $17.8M in Follow-On Round

After raising $140 million last year, Applied Data Finance closed another $17.8 million in a follow-on round.

San Diego Second Most Popular Destination in California for Airbnb in 2018

According to a press release, the collective income for San Diego-based hosts was $213 million in 2018, coming in second after L.A.'s $613 million.

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Retrophin Names New CEO

Earlier this month San Diego-based Retrophin’s board appointed a new president and CEO: Eric Dube.

El Cajon Apartments Sold For $3.1M

Complex has 13 apartments

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Western Lighting Goes Employee-Owned

Western Lighting and Energy Controls has become an employee owned company by changing its structure to an Employee Stock Ownership Plan (ESOP) trust.

MG Properties Buys Phoenix Apartments

Complex has 429 apartments

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BRG Consulting Appoints Christina J. Willis as President

Willis will replace Erich Lathers, who remains with the firm as Principal Planner.

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Ligand’s Stock Falls as Analysts Debate Value

PHARMA: Co. Confident in Revenue, Cash and Portfolio

Ligand Pharmaceutical’s stock has lost more than half of its value since October, puzzling the company and most analysts, though a vocal minority are skeptical of the company’s pipeline.

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Wednesday, January 16

CommonGrounds Gets $100M to Fuel Big Coworking Expansion

CommonGrounds, a Carlsbad-based coworking company, plans to use the series A funding to add 50 locations.

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Cultural Components Are Key Parts of Mixed-Use Project

PROPERTY: San Ysidro Site Includes Theater, Education Space, Housing

A 92-year-old former San Ysidro church will be resurrected as a neighborhood theater as part of a mixed-use project that includes affordable housing and classroom space for the UC San Diego.

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Carlsbad Apartment Complex Sold For Nearly $17.7M

Complex is a mix of flats and townhomes

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Sensemetrics Enables Sensors to Join in the Conversation

TECH: Platform Connects Sensors, Aggregates Data Into Actionable Analysis

Most consumers are familiar with in-home IoT devices, such as smart doorbells and voice assistants.

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Kratos Plays Big Role in Satellite Ground Game

The space sector is experiencing a technology renaissance.

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Record Decoding of Genome May Be Big Win for Patients

MEDICINE: Rady Feat Drew on Local Biz Talent and Expertise

It was one for the record books. Researchers at Rady Children’s Institute for Genomic Medicine last February decoded a newborn’s genome in 19.5 hours.

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Tuesday, January 15

Rancho Bernardo Startup Lands $30M in Funding from Amazon, Samsung

Wiliot, which is making sticker-sized Bluetooth sensors, raised $30 million in a series B round.

Several Tech Startups Land Big Funding Rounds in Dec., Jan.

After a record-breaking 2018 for venture capital, San Diego companies brought in one last present before the end of the holiday season, closing several substantial funding rounds.

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Restaurant Group Looks to Stand Out, Blend In

DINING: Personal Service Key Part of Delivering Community Concepts

For Brendan Huffman, the purpose of all Social Syndicate restaurant group’s properties is simple: provide genuine, good old-fashioned hospitality.

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Coworking Space Passes Million-Square-Foot Mark

PROPERTY: Big, Small Cos. Find Various Appealing Features

San Diego entrepreneurs have plenty of options to choose from when deciding where to rent a desk.

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Teradata Taps COO to Lead Company

Teradata promoted its chief operating officer to serve as CEO of the data analytics company.

Jan Caldwell Becomes Chairman of Scripps Health Board

Jan Caldwell, who has sat on Scripps Health’s board since 2012, was named board chairman, it was announced Jan. 14.

NTC Foundation Names New Board Chair

According to a press release, Stipanov will replace Lori Fleet-Martin, who held the position for the last two years.

Monday, January 14

FTC’s Antitrust Trial Against Qualcomm Brings up Billion Dollar Question

Qualcomm and Apple are at odds at what led to a $1 billion payment between the two companies. The figure in dispute is a key part of the FTC's antitrust complaint against Qualcomm.

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Founder’s Vision Pairs With Pricing Strategy for Sunglasses Success

RETAIL: Co. Also Taps Millennials’ Willingness to Cut the Cord to Brands

When Adam Moyer lost his last pair of expensive sunglasses — Ray-Bans that ran him about $150 — the then UC San Diego graduate art student decided to take matters into his own hands.

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Cubic Gets $4.5M Contract

Foothill Transit has awarded Cubic Corp. a $4.5 million contract to make its bus fare collection system compatible with the regional TAP system — the smart card system used by transit providers in the greater Los Angeles area.

Otay Mesa Business Park Completed

Building 17 partly leased

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Qualcomm to Pay 62 Cents Per Share Dividend

Qualcomm Inc. will again pay a 62-cent dividend to its shareholders this quarter.

Pala Casino Appoints New CEO

On Jan. 6, Buro sent a letter to his Pala employees, in which he introduced himself but also acknowledged what he has observed his first week on the job.

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Innovus Pharmaceuticals Raises $3.17M Through Private Placement

Innovus Pharmaceuticals, a La Jolla-based maker of over-the-counter products, raised $3.17 million through a private offering.

San Diego International Airport to Move Some Airlines' Operations

Alaska Airlines, which operates more than 45 daily departures from Terminals one and two, will consolidate and operate solely from Terminal Two East.

Salvation Army Building Sold For $7.5M

Bankers Hill Structure bought by West Hollywood developer

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Sunday, January 13

Catching Up to Care

HEALTH: San Diego at Forefront of Genomics Insurance Coverage

Ceaseless seizures took Kara Coltrin’s newborn son to the brink of death. Then came a turning point: rapid genome sequencing.

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Cirius Therapeutics Outlines $86M IPO Plans

Liver drug developer Cirius Therapeutics on Jan. 11 put in a prospectus for an $86 million initial public offering.

Shipping Containers Floated as Housing

PROPERTY: Small Low-Cost Units Being Built for Veterans

Living in converted shipping containers stacked one on top of another or side by side may sound like something out of a dystopian science fiction novel, but that’s exactly what one San Diego developer sees as a way to help homeless veterans get off the streets.

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Raytheon to Support Missile Defense Sensors

The U.S. Missile Defense Agency awarded Raytheon Co.’s San Diego office a contract for multispectral targeting system (MTS) sensor support, with a $1.3 million task order. The entire contract could eventually be worth up to $9.6 million.

Imperial Beach Complex Sold For $2M

Complex has seven units

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Business Events Calendar for Week of January 14, 2019

Events planned in the county

Two Procopio Attorneys Promoted to Partner

Justine Nielsen and Michael Kiesling were promoted to the level of partner at Procopio.

Classic Beauty, Classic Charms Will Welcome You Home

Less than a mile from the charming, historic village of downtown Rancho Santa Fe is an authentic Southern French country estate designed in 2003 by San Diego-based architect Tim Wilson of Wilson Architecture and built by renowned local luxury home builder Emilio & Sons Inc.

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Consider Community in Your Coworking Choice

While we welcome national chains to San Diego, we must also continue to encourage and support locally owned and operated companies. It is critical not only to the culture but also to the growth of our city.

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Music Program Plays Part in Retraining Brain

Rest Haven Children’s Health Fund, an endowment fund to assist children in San Diego and Imperial counties with health-related needs, awarded $13,125 to the San Diego Center for Children.

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Artist Wants to Create a Better World

Tom Liguori, a San Diego-based entrepreneur-turned-artist, recently announced that in a little over a year, he’s donated $175,000 to charity through purchases of his artwork in the past year.

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Group Aims to End Child Abuse and Help Heal Its Victims

The St. Germaine Children’s Charity recently raised more than $120,000 for local child abuse prevention agencies. More than 350 people attended the “Silver Tea” at the Jenny and Jason Hochberg residence. Youth singers and musicians from Leading Note Studios provided the entertainment.

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Organizations Pool Their Resources to Guide Veterans In Need to Services

A funder collaborative of five regional and national philanthropic organizations have pooled significant funds to support solutions that ensure veterans in San Diego County have critical one-on-one navigation of the system to more quickly and effectively help them be matched with and given access to housing that supports their specific needs.

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Workers Get the Job Done at Food and Toy Distribution

More than 650 families received holiday dinners, toys and gifts donated by union members across San Diego and Imperial counties.

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NOMIS Foundation Awards Salk Researcher $1.8M Grant

The Salk Institute for Biological Studies announced that associate professor Janelle Ayres was awarded $1.8 million by NOMIS Foundation for novel research on mechanisms to promote health.

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Realities of Residential Real Estate

It’s not exactly astonishing news, but a company that compiles all kinds of statistics on home buying — Zillow Group — reported in January that first-time homebuyers in San Diego County make more money than people who aren’t in the market to buy.

Hotel Boom of 2018 Likely To Continue in 2019

More new hotels were built in San Diego County in 2018 than in any other year since 2000, according to Atlas Hospitality Group.

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Design Firm’s New Office Captures Past, Prepares for Its Future

Ware Malcomb design firm has relocated its San Diego headquarters to a renovated Sorrento Valley office building meant to showcase the firm’s work and its history.

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Qualcomm’s 5G Solutions to Come Out Strong in Mobile Devices

2019 will be the year of the 5G smartphone.

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Creating Experiences Takes Team Building on New Adventures

WORKFORCE: Activities Look to Bring Out Bonding, Team Spirit

Ax throwing. Team sports. Charity bike building. Culinary competition.

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Tasty Additions to Sycuan’s $260 Million Expansion

As part of Sycuan Casino Resort’s $260 million expansion, the San Diego venue is set to open a new restaurant and a lounge: Bull & Bourbon Steakhouse and Elicit Bar & Lounge.

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Brewing With International Flavor

Kairoa Brewing Co. is slated to open later this month in the University Heights neighborhood — right beside the UH sign, to be exact. The 10,500 square foot, two-floor space will serve house and guest beer, a full food menu as well as over a dozen wine options. In a nod to the founders’ home-base, New Zealand, Head Brewer Joe Peach will utilize New Zealand hops to create its beer.

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New Food Options Look to Flourish in S.D. Neighborhoods

New York City, New Orleans and Los Angeles are usually touted as some of the country’s top food cities. But, with more and more restaurants and food and beverage options in the county, San Diego is giving them a run for their money — and their foodies.

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Thursday, January 10

Change Is Certain for Sempra, What Direction Is Question

2019 Look Ahead: TECHNOLOGY

Sempra Energy went through several changes in 2018 and could change some more by the time 2019 is over.

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San Diego Business Journal Names New Leadership Team

Vik Jolly and Stephen Adamek have been promoted to editor-in-chief and managing editor positions respectively.

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WD-40 Grows Net Income 5 Percent

WD-40 Co., maker of the eponymous lubricant as well as a line of cleaning and lubricating products, reported net income of $13.3 million or 95 cents per share during its first quarter, which ended Nov. 30. Net income rose 5 percent from last year’s first quarter.

MG Properties Buys 2 Oregon Property Apartment Complexes For $92.1 M

Apartments are in Portland suburb of Wilsonville

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Classy Sees Record Fundraising at the End of 2018

Classy, which builds fundraising platforms for nonprofits, beat its record for the most donations made in a single day on Dec. 31.

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Analytics Ventures Adds Big Names in Tech to Advisory Board

Analytics Ventures added executives from Qualcomm Life, Software AG and GE Ventures to its advisory board.

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State’s First Accredited Senior Emergency Department Opens in San Diego

UC San Diego Health has opened a new senior emergency department, complete with a team trained in geriatric medicine and senior-friendly architectural design.

Carlsbad Apartments Sold For $2M

Complex has four apartments

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College Area Project Sold For $2.2M

Restaurant and eight apartments included

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Wednesday, January 9

Government Shutdown Puts Brakes on IPO Plans

The federal government shutdown has stalled San Diego biotechs knocking on the door of an initial public offering.

SeaWorld San Diego to Add New Dive Coaster Attraction in 2020

The coaster will be located next to the Journey to Atlantis in the southeast corner of the park, where a parking lot currently resides.

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Hotel Boom Appears to Have Staying Power for 2019

2019 Look Ahead: REAL ESTATE

More hotels are coming to downtown San Diego in 2019, with a total of 2,444 rooms expected to come on line throughout San Diego County.

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National City Industrial Park Sold For $24.8M

Buildings were recently renovated

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PriceSmart Raises December Sales 0.9 Percent

PriceSmart, the San Diego-based warehouse club chain operating in Latin America and the Caribbean, reported that December’s merchandise sales increased almost 1 percent compared with the same month one year ago. The company made its announcement Jan. 9.

Vacant Carlsbad Land Sold For $2.6M

Plans call for eight to 12 half-acre lots.

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Focus on Angel Investing Could Pay Off Big for Startups

2019 Look Ahead: Finance

San Diego leaders worked hard to build a pipeline of angel investors in 2018. Those efforts should bring a bumper crop of much needed early-stage capital for startups going into 2019.

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Tuesday, January 8

City Council Votes to Ban Styrofoam Use in San Diego

The ordinance, authored by Councilmember Chris Ward of District Three, places restrictions on single-use plastics in the county.

Home Bay Technologies Raises $13.5M Series A

San Diego based digital real estate company Home Bay raised $13.5 million after its rapid expansion into several states.

Don’t Count on Concessions in These Hot Office Markets

Demand for office space is expected to remain strong in San Diego through 2019, according to commercial real estate brokers.

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Vista Apartments Sold For $41M

Complex was built in 1985

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Airpower Comes In Changing Shapes, Sizes and Technology

2019 Look Ahead: Aerospace

San Diego’s aerospace community was established long before Lindbergh took off for Paris, and it’s poised to make more headlines in 2019. Look for news among the makers of unmanned aerial vehicles.

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Diesel Engine Work Flows to Port of San Diego

The U.S. Navy awarded engine maker Fairbanks Morse an indefinite delivery, indefinite quantity contract that could be worth up to $13.6 million over five years. Thirty percent, or up to $4 million, of the work is expected to flow to San Diego.

Salk Board Gives Interim President a Five Year Term

The Salk Institute’s board recently voted to give President Rusty Gage a five-year job extension.

Oceanside Office and Retail Building Sold For $3.7M

Extensive renovation planned

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Apartment Complex Sold For $2.1M

Complex is in Stockton neighborhood

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Monday, January 7

San Diego Self-Driving Truck Company Grows Fleet

TuSimple plans to grow its fleet of fully autonomous trucks to 40.

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2019 Look Ahead: Diverse Sectors Bring Balance to Economy

ECONOMY: Defense, Tech And Tourism to Help S.D. Beat National Numbers

San Diego’s economy will likely run faster than the national economy in the coming year.

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Qualcomm Drives Connected Car Tech at CES

Qualcomm Drives Connected Car Tech at CES

Qualcomm Inc. unveiled a new automotive platform, as it focused on the future of 5G and self-driving cars at CES.

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National University System Adds Northcentral University

According to a news release, it is the National University System’s first doctoral level program.

East County Aircraft Parts Manufacturer Acquired

Spring Valley-based Williams Aerospace and Manufacturing has been acquired by a Los Angeles area defense contractor for undisclosed terms. Williams makes parts for a variety of Lockheed Martin aircraft, including the P-3 Orion maritime patrol aircraft and C-130 Hercules transport.

San Diego Firm Buys Las Vegas Apartments For $29.5M

Tower 16 Capital Partners plans $4 million in renovations

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Normal Heights Apartments Sold For $2.2M

Complex is fully occupied

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Co. Awarded $21.7M Contract for Amphibious Ship Electronics Work

Raytheon Co. is quietly working its way toward earning $132 million over several years by tending to the electronics on the U.S. Navy’s San Antonio-class amphibious ships. Raytheon (NYSE: RTN) is performing most of that work in San Diego.

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Sunday, January 6

Craft Brewery Closures Don’t Spell Doom for Sector

2019 Look Ahead: Tourism & Hospitality

Just last month, Benchmark Brewing Co. was on the verge of selling its operations following an eviction notice from its landlord.

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Talent Catches Apple’s Eye, Drawing Big Move

Property, People and Perceptions of Region to Change With Apple’s Arrival

Google, Amazon, and now, Apple Inc. are lining up to be the latest companies to join San Diego’s growing tech hub. While San Diego has plenty of behind-the-scenes tech talent, between companies Qualcomm, Viasat and Illumina, it has few household names in consumer products.

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UTC Location Is Well-Suited To Co.’s Wants, Needs

Property, People and Perceptions of Region to Change With Apple’s Arrival

Apple Inc. is expected to lease a UTC building owned by the Irvine Co. as it brings more than 1,000 new jobs to San Diego over the next three years, according to brokers and others who are following Apple’s move.

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Jack in the Box Extends Deadline to Add Two New Directors

The original deadline to appoint the members was Jan. 8 but was moved as part of ongoing discussions with investors Jana Partners LLC to explore “strategic and financing alternatives to maximize shareholders value.”

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Poseida Therapeutics Files for $115M IPO

Poseida Therapeutics on Jan. 4 filed for an initial public offering, seeking to raise $115 million.

Qualcomm leads $15M Investment in Baicells

Qualcomm invested $15 million in Baicells, a telecommunications company that makes small cells.

GA Satellite to Carry Argos Sensor to Space

General Atomics has received a contract to help launch a satellite for an international data gathering program. It is expected to play a role in ocean buoy tracking, wildlife and fishery monitoring, and maritime security.

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Business Events Calendar for January 7, 2019

Business events planned in the county

Rego Restaurant Group Names Tim Casey CEO

Casey previously served as president and CEO of PepperJax Grill and as president of QDOBA Mexican Grill. Prior, he was vice president at Starbucks Coffee Company.

Startup Acquires Forensics Company

Truepic, a San Diego startup that verifies the authenticity of photos and videos, acquired a well-known photo forensics company.

For Council Brewing Co., It’s Closing Time as Tastes Change

Just seven months after opening its second location — a tasting room in Santee — Council Brewing Co., founded in 2014 and headquartered in Kearny Mesa, has officially — and sadly — closed.

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Benchmark Brewing Looks To Make Necessary Changes

Following a close call with eviction, San Diego’s Benchmark Brewing Co. will remain open, for now.

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Cohu Names New Board Member

Cohu Inc., the Poway-based maker of test equipment for electronics factories, has named Ritu Favre to its board of directors, increasing the number of board seats from eight to nine, effective Jan. 2.

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Service Deal, Software Deal Flow to GA-ASI

General Atomics Aeronautical Systems Inc. received a $291.4 million contract covering support and services for the U.S. Air Force fleet of MQ-9 Reaper remotely piloted aircraft.

Harper Gains More Work At Oklahoma’s Fort Sill

Harper Construction Co. Inc. is going into 2019 with a $59.5 million U.S. Army contract to build a reception station barracks complex at Fort Sill, Oklahoma.

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Home of The Month: Expanding Your Horizons

At the end of a long, private drive lined with towering trees is an incomparable Spanish Colonial estate by award-winning, South Carolina-based Island Architects.

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For Viasat, 2019 Is Going To Be Year of Preparation

2019 Look Ahead: TECHNOLOGY

If everything goes according to plan, 2020 will be the year the ViaSat-3 satellites begin providing broadband communication from space. The satellites’ design will offer “unprecedented” speed and flexibility, according to their maker. 2019 will be a year to get ready.

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Active Corporate Partners Are Powerful Addition to Incubator

San Diego tech incubator EvoNexus opened a new round of applications with the support of two big corporate partners.

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Qualcomm’s Heavyweight Fight Likely to Go to Judges’ Card

2019 Look Ahead: TECHNOLOGY

Qualcomm Inc. and Apple Inc. have been trading shots since early 2017 over the San Diego chipmaker’s licensing fees. The lengthy, multibillion-dollar legal battle is expected to reach a conclusion this year.

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ResMed Covering All the Bases With Its Acquisitions

2019 Look Ahead: Health Care

ResMed bought three companies in 2018, moves that taken together look to broaden the reach of San Diego’s largest medical device outfit this year and beyond.

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Halozyme Expects Key Data On Cancer Drug

2019 Look Ahead: Health Care

San Diego’s Halozyme is headed for an inflection point. In the second half of the year, analysts expect key clinical trial data to be released on Halozyme’s pegph20 in metastatic pancreas cancer. The therapeutic candidate is in a late-stage trial, or known as phase 3.

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Gossamer Goes for Goal Of Being Biotech Force

2019 Look Ahead: Health Care

As evidenced by a planned Nasdaq listing, Gossamer Bio has grand plans.

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New CEO Likely to Feel the Heat of Health Care Climate

2019 Look Ahead: Health Care

Sharp HealthCare, San Diego’s largest hospital system, will soon have a new person at the helm.

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Philanthropy: Candlelight Ball Continues Its Successes

The Scripps Health Foundation recently hosted the 88th Annual Candlelight Ball at the Fairmont Grand Del Mar.

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Trade Can Be Game-Changer for Small Businesses

Small businesses — those with fewer than 100 employees — fuel San Diego’s economy.

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Restaurateur’s Success Serves as Example

DINING: Intricacies Span From Managing to Menu

The sun is shining on Rise & Shine Restaurant Group … now. A decade after opening his first restaurant in Pacific Beach, founder and owner Johan Engman today owns over a dozen restaurants throughout Southern California.

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One Paseo’s Retail Mix to Be Open for Business in Spring

2019 Look Ahead: REAL ESTATE

Part of Kilroy Realty’s One Paseo mixed-use development in Carmel Valley will open to the public in 2019 as construction moves ahead on the rest of the project.

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With Millennial Support, Distillers Craft Their Plan

2019 Look Ahead: Tourism & Hospitality

A search on the San Diego Distillers Guild website indicates there are approximately 15 craft distilleries as members in the county. According to the American Craft Spirits Association 2018 annual report, California leads in the number of craft spirits distilleries in the country with 156, up from 148 the year prior.

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Hospitality Sector Looking For Big Win in Beach Games

2019 Look Ahead: Tourism & Hospitality

After winning a three-year bidding war that included a host of American cities as well as seven countries, San Diego will host the inaugural Association of National Olympic Committees (ANOC) World Beach Games October 2019.

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Scale, Visibility, and Execution Are Seismic’s Tickets to an IPO

2019 Look Ahead: TECHNOLOGY

It’s no secret that San Diego tech company Seismic Software Inc. is angling toward a potential public offering. The company, which makes software for salespeople, took two important steps toward an IPO last year.

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Seven San Diego Companies Went Public in 2018

San Diego saw a banner year for IPOs in 2018, with seven companies making the jump to go public. The end of the year brought one last holiday gift for the metro, with two additional biotech companies making their debuts in late December.

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Affordable Housing Complex Brings 77 Units Into the Mix

A new affordable housing complex has opened in Pacific Highlands Ranch —Luna at Pacific Highlands Ranch with 77 apartments available for lease.

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Rising Interest Rates Change Homebuying Equation for Many

Despite a softening in the market for single family homes in San Diego, rising interest rates have offset any advantage the slowdown may have given prospective buyers, according to a company that monitors residential housing.

Thursday, January 3

Local Biotech Stocks Stumble and Fall With Market Drop

San Diego’s biotech industry took a beating as part of a larger fourth quarter stock retreat.

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NuVasive Shakes Up Organizational Structure

San Diego medtech NuVasive cut two vice president positions and shifted the responsibilities of other management as part of a reorganization that the company announced Jan. 3.

Mitchell Division Acquires Disability Services Company

Mitchell International's managed care division acquired Genex Services, a Sacramento-based disability services company.

Carlsbad Office Building Sold For $2.7M

Seller is leasing space in the building

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Oceanside Industrial Building Sold For $2.8M

Buyer is consolidating businesss

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Achates Power Names New CEO

Achates Power, the Sorrento Valley business developing opposed-piston truck and military engines, has named David Crompton CEO. The business has set a goal of creating a low-emission internal combustion engine.

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Wednesday, January 2

Roswell Biotechnologies Lands $32 Million Series A Round

Roswell Biotechnologies has taken in a $32 million series A round in a bid to bring down the cost of DNA sequencing through what the company calls a molecular electronics platform.

San Diego Cleantech Startup Raises $18M

Measurabl, a San Diego startup that helps real estate companies track sustainability data, raised $18 million in a series B.

San Diego Padres Promote Erik Greupner to President of Business Operations

Greupner, who joined the club in December 2010 as Vice President, General Counsel, had served as Chief Operating Officer for the Padres since November 2016.

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S.D. Coffee: Wake Up, And Smell the Profits

A couple of years ago, Jay Ruskey, a seasoned California farmer, tapped San Diego to grow high-end coffee that he and his team believe will sell for around $15 a cup.

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Developer Finds Opening To Life Science Sector

2018 Newsmakers

San Diego’s reputation as a home for growing life science companies drew the attention of a Boston developer, who picked the city for its West Coast expansion.

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Ad Astra Ventures Is Off to a Stellar Start

2018 Newsmakers

One of San Diego’s newest incubator programs succeeded in bringing together two stellar startup cohorts in its first year. Ad Astra Ventures, a program for early-stage companies founded by women, graduated six companies in 2018. They ranged from Envy, an e-commerce platform with a visual search engine, to Cooler Heads, a medical device startup making portable cold caps, which are applied during and after chemotherapy to prevent hair loss.

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Cubic Buys Gridsmart Technologies for $87M

Cubic Corp. said on Jan. 2 that it acquired Gridsmart Technologies Inc. for $87 million in cash.

Sempra Sells More Assets for $332M

Sempra Energy announced on Jan. 2 that it agreed to sell its non-utility U.S. natural gas storage facilities in Mississippi and Alabama to ArcLight Capital Partners for $332 million in cash.

Tuesday, January 1

Kratos Space and Satellite Deals Worth $65M

Kratos Defense and Security Solutions Inc. recently received approximately $65 million worth of work in the space and satellite communications realm. The work came in the form of multiple contracts. At least one customer exercised an option on previously awarded work.

Tour De Force Of Creativity Animates Viasat’s HQ Expansion

Mark Dankberg said he wanted to create a place where people like to work when Viasat expanded its Carlsbad corporate headquarters.

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Business Women of the Year Awards

The 2018 Business Women of the Year Awards.

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Cubic to Support Navy Helicopters

Cubic Corp.’s defense business received a $7.6 million U.S. Navy contract to support H-60 helicopters, known in the Navy as Sea Hawks.

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With Multiple Suitors, Mitek Weighs Potential Deal

Mitek's board is considering a potential deal, after rebuffing several acquisition attempts.

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Ligand to Pay $10 Million to Palvella In Exchange for Royalty Rights

San Diego-based Ligand Pharmaceuticals will pay $10 million to Palvella Therapeutics under a recent deal.