San Diego Business Journal


Two Businesses Chosen to Work on Five-Year Navy Contract

The U.S. Navy tapped two San Diego businesses — BAE Systems Information Solutions Inc. and Information Systems Laboratories Inc. — to work on intelligence-exploitation and targeting systems over the next five years.

USD, UCSD MBA Programs Ranked Among World's Best

The Financial Times has named the MBA programs at the University of San Diego and the University of California, San Diego as among the 100 best in the world.

Youngevity Raises $5 Million in Equity, Debt Financing

Youngevity International Inc., a global direct marketer of nutritional and lifestyle products and producer of gourmet coffees, has raised $5 million in equity and debt financing, according to a recent filing with the Securities and Exchange Commission.

Illumina Reports Fourth-Quarter Net Income of $153.3 Million

San Diego-based Illumina Inc. reported fourth-quarter net income of $153.3 million, or $1.03 per share, up from $80.7 million, or $0.56 per share, last year.

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City Approves $91.3 Million Deal to Acquire Downtown Office Tower

San Diego City Council has approved a 20-year, $91.3 million lease-to-own deal, in which the city will eventually acquire the downtown San Diego office building known as Civic Center Plaza.

San Diego Private Bank Posts Q4 Net Income of $734,000

San Diego Private Bank reported 2014 fourth-quarter net income of $734,000, compared to net income of $2 million for the like quarter of 2013.

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San Diego International Airport Set Passenger Record in 2014

San Diego International Airport served a record 18.7 million passengers during 2014, the highest total seen since 2007, officials recently reported.

Pentagon Awards General Atomics $36.5 Million Contract Modification

The Pentagon awarded La Jolla-based General Atomics more work on a power system for the Navy’s nascent electromagnetic railgun project — which military leaders say will be able to hurtle a projectile 83 miles a minute.

Tony Karklins Named General Manager of BST Bikes

BST Nano Carbon, a Rancho Bernardo manufacturer that uses advanced composite materials, named Tony Karklins general manager of BST Bikes LLC, the company’s cycling division.

Pentagon Awards Cubic Corp. Deal Worth Up to $9.9 Million

Cubic Corp. said on Jan. 26 that it received a five-year deal to provide as much as $9.9 million worth of support to the Air Force Research Laboratory at Wright-Patterson Air Force Base in Ohio.

DexCom Gets FDA Approval for Glucose-Monitoring Mobile App

DexCom Inc., a San Diego-based medical device company, announced that it has received U.S. Food and Drug Administration approval for a continuous glucose-monitoring system with data-sharing capabilities.

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Brand USA Tourism Agency Shoots Promo Spots in San Diego

San Diego County sites were on the itinerary for a recent series of video shoots by Brand USA, a nationwide public-private partnership that promotes global tourism in the United States.

Aspyrian Therapeutics Raises $8.45 Million in Equity Financing

Aspyrian Therapeutics Inc., a San Diego-based biotechnology startup, has raised $8.45 million in equity financing, according to a recent filing with the Securities and Exchange Commission.

EDF Renewable Energy Announces Commercial Operation of Hereford Wind Project

San Diego-based EDF Renewable Energy announced recently that the 200-megawatt Hereford Wind Project in Texas reached commercial operation in December. In addition, tax equity financing closed with BNY Mellon and MUFG Union Bank N.A. Financial details were not disclosed.

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Bankers Hill Site of Planned Condos Sells for $12.15 Million

An affiliate of San Diego development firm Zephyr Partners has acquired a Bankers Hill land parcel for $12.15 million, with plans to develop an upscale high-rise condominium project, according to brokerage company Colliers International, which represented the seller.

Vibra Bank Reports Q4 Net Income of $600,000

Chula Vista-based Vibra Bank reported 2014 fourth-quarter net income of $600,000, compared to $44,000 for the like quarter of 2013.

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Rexford Buys Miramar Industrial Buildings for $18.4 Million

Los Angeles-based Rexford Industrial Realty Inc. has purchased a complex of five Miramar industrial buildings for $18.4 million, according to CoStar Group and public data.

Qualcomm Executives Get Hefty Stock Awards to Stay Put

Saying that other companies are “aggressively” using Qualcomm Inc.’s executive suite as a source for talent, Qualcomm (Nasdaq: QCOM)’s board has awarded new compensation packages for key executives.

Royal Bank Acquires City National Bank for $5.4 Billion

City National Bank, based in Los Angeles and with seven offices in San Diego, said it signed a definitive agreement to be acquired by Royal Bank of Canada in a stock and cash deal valued at $5.4 billion.

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Wisconsin Terrace Apartments in El Cajon Sold for $3.9 Million

Wisconsin Apartments LLC of San Diego has purchased the 22-unit Wisconsin Terrace Apartments in El Cajon for $3.9 million, according to brokerage company Berkadia Real Estate Advisors LLC, which represented the buyer.