San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

SmartDrive Systems Raises $50 Million in Venture Funding

SmartDrive Systems said on March 30 that it raised $50 million of additional venture funding.

By Brad Graves March 31, 2015 3:08 p.m.   Share

SDCERA Names Wescoe Chief Executive

San Diego County’s $10.6 billion pension fund said Sept. 3 it had hired the former head of the city’s pension fund, David Wescoe, as its next permanent chief executive, following the resignation of longtime CEO Brian White in March.

What Are Big, Scary and Could Cost Up to $15.7 Billion for the County?

San Diego could suffer nearly $15.7 billion in economic losses over the next decade if a host of man-made and natural catastrophes strike, including a stock market crash, according to a report Sept. 3 by insurance giant Lloyd’s of London.

Local Economic Indicator Ends 13-Month Trend

ECONOMY: Labor Market Key Concern As Index Slips in July

An index measuring the health of the San Diego economy took a downward turn in July, after 13 consecutive months of increases.

San Diego Region Has Second-Fastest Growing Economy in State

The greater San Diego region is the second-fastest growing economy in the state, the California Employment Development Department said Wednesday, with the area expected to add 206,000 jobs by 2022.

San Diego Economy Slips Slightly in July, Index Finds

An index measuring the health of the San Diego economy took a downward turn in July, after 13 consecutive months of increases.

TriWest Healthcare Alliance Hiring Hundreds as it Expands San Diego Presence

TriWest Healthcare Alliance announced the company is hiring 240 employees in San Diego at its new Operations Center, which is scheduled to open on Sept. 8.

Canter Cos. Is Partnering With TriVant as Part of Wealth Management Initiatives

San Diego-based Canter Cos., a developer, broker and venture capital firm, said it is partnering with local portfolio manager TriVant Customer Portfolio Group to bolster its fledgling wealth management division and add $70 million in assets under management.

SDCCU's Membership Increases Nearly 9% in 12 Month Period

San Diego County Credit Union’s membership grew nearly 9 percent to 295,000 customers in the year ending June 30, the credit union said in its quarterly earnings report.

GA-ASI Pays Workers $945,000 in Back Wages to Comply With Prevailing Wage Edicts

General Atomics Aeronautical Systems Inc. has paid $945,000 in back wages to 901 of its employees nationwide following a Department of Labor investigation, the federal agency said on Aug. 27.

Housing Crisis Hurts At Home and Work

ECONOMY: Solutions Sought; Workforce Can’t Afford S.D.

Thirteen years ago, San Diego City Council declared the city was suffering from a housing emergency, with less than 25 percent of families able to afford a median-priced home, then worth $379,000.

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Emmes Gets $130 Million in Refinancing for Downtown Tower

An affiliate of property owner Emmes Group of Cos. has received $130 million in first mortgage debt to recapitalize 1 Columbia Place, its office tower at 401 W. A St. in downtown San Diego.

Birnie Appointed CEO of Pacific Marine Credit Union

Oceanside-based Pacific Marine Credit Union said it had appointed the former president of Orange County’s Eagle Community Credit Union as Pacific Marine's CEO.

Unemployment Rate for County Increases in July

Unemployment in San Diego ticked up to 5.4 percent in July, up from 5 percent the month before, with the region losing about 2,500 industry jobs since June.

Business Confidence Falls Slightly in July, Chamber Reports

The San Diego Regional Chamber of Commerce’s Business Forecast fell in July to its lowest point in a year, though the Chamber said the decline from June was statistically insignificant.

Seacoast Commerce Bank Announces Two Benchmarks

Seacoast Commerce Bank announced two benchmarks on Thursday: it had more than $500 million in assets and had gotten over $1 billion in loans approved by the U.S. Small Business Administration.