San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Unanimous City Council Vote Puts Minimum Wage Issue on June 2016 Ballot

A phased-in minimum wage increase required of businesses located in the city of San Diego that would have raised the wage from $9 to $11.50 by 2017 will be put to a public vote on June 2016 following a unanimous 9-0 vote by the San Diego City Council.

Apricus Receives $10M in Financing to Pursue Licensing Deal

San Diego-based Apricus Biosciences Inc. announced that it has acquired $10 million in financing to purchase licensing from Finland-based Forendo Pharma to develop and commercialize an investigational treatment for urological conditions in men.

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Stone to Open Distribution Center in Vista

Stone Brewing Co., the Escondido juggernaut that recently struck deals to build breweries in both Virginia and Berlin, said it plans to open a distribution center for its national clients in Vista.

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Northrop Grumman Reports Successful Tests of Roadside-Bomb Jamming Device

Northrop Grumman Corp. said on Oct. 16 that its JCREW system — an electronic signal jammer designed to foil roadside bombs — made it through an extensive battery of tests at five Defense Department facilities in preparation for deployment in 2015.

StackIQ Receives $6 Million in Series B Funding

StackIQ, a Solana Beach software maker specializing in products to manage large infrastructures, said that it received $6 million in series B funding.

Albireo of New Jersey Buys Two Poway Companies

Electronic Control Systems and Green Total Solutions, both based in Poway, were acquired by Albireo Energy LLC of New Jersey for an undisclosed price.

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Epic Sciences Names Giske to CIO Position

Epic Sciences Inc. announced the appointment of Michael Giske as chief information officer.

Mid-Coast Trolley Project Gets a Key Environmental Approval

The Federal Transit Administration signed a key document approving the environmental review of the Mid-Coast Trolley Project.

Acquisition of redIT Clears Final Regulatory Hurdle

KIO Networks, a Mexico-based Internet services provider, said it concluded the final regulatory process of acquiring redIT, a San Diego-based provider of information technology data centers.

Women-Owned Small Businesses Invited to Federal Contract Workshop

A workshop on how women-owned small businesses can get federal contracts is scheduled for Oct. 22 at San Diego State University.

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Planning Commission Recommends Changes and Forwards One Paseo Project to City Council

The San Diego Planning Commission has forwarded to City Council a controversial $650 million mixed-use development, called One Paseo, proposed for Carmel Valley.

The Business Calendar for the Week of October 20, 2014

Some of the business events scheduled in the county for the week of October 20, 2014, and beyond.

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Kratos Announces Several Contracts

Kratos Defense & Security Solutions Inc. announced several contract wins in the seven-day span of Oct. 9-15.

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Otay Mesa Industrial Building Sold for $5 Million

Dallas-based TriGate Capital LLC and Lotus Real Estate Partners of Irvine have purchased an Otay Mesa industrial property for approximately $5 million, according to a statement from the buyers.

Unemployment Rate in County Is 5.9% for September

San Diego’s unemployment rate in September was 5.9 percent, down from August’s 6.2 percent, and down from the year-ago rate of 7.3 percent, according to the state’s Employment Development Department.

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Presidio Residential Capital Partnering With Builder for Pismo Beach Project

San-Diego based Presidio Residential Capital is partnering with Coastal Community Builders in plans to build Seaside Villas, a $5.43 million .38-acre community with eight detached three-story townhomes in Pismo Beach.

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Chipotle Mexican Grill Opens Its First Military Location at MCAS Miramar

Denver-based Chipotle Mexican Grill has opened its first military base restaurant at Marine Corps Air Station Miramar in San Diego.

Plans for Busier Workers Buoy Business Index for September

The San Diego Business Outlook Index, a measure of local business owners’ confidence, increased by 1.7 points in September to 26.7, driven by more optimism about increased workforce hours.

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WD-40 Co. Reports $43.7 Million Net Income for the Year

Shares of WD-40 Co. gained almost 6 percent Oct. 17, one day after the company announced fourth quarter earnings.

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WD-40 Co. Reports $43.7M Net Income for the Year

Shares of WD-40 Co. gained almost 6 percent Oct. 17, one day after the company announced fourth quarter earnings.