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

San Diego's Economic Health Continues to Make Gains, Index Shows

An index of San Diego’s economic health rose again in May, marking 12 straight months of positive outlooks, the University of San Diego said Tuesday.

Study: Acceptance of Working Moms Continues to Grow

Teen and adult acceptance of working mothers has risen to an all-time high, about double what it was in the late 1970s, researchers at San Diego State University and the University of California, San Diego said Monday.

Former Qualcomm Exec Sentenced to 18 Months and Fined for Insider Trading, Obstruction of Justice

A federal judge sentenced a former Qualcomm Inc. executive to 18 months in prison and fined him $500,000 for acting on insider information to profit from stock trades and then trying to cover up the incidents.

Company Ensures Protection From Possible Liabilities

INSURANCE: Verifying COIs and Knowing Limits Of Policies Are Musts

Whenever entities work with vendors, suppliers, or tenants, especially in the public sector, it’s important to make sure they are doing business with people who are properly insured.

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S.D. Adds 446 Cos. to Its Innovation Roster

ECONOMY: VC, Research, And Funding Fuel Growth

A new report from business accelerator CONNECT says 2014 was a banner year for San Diego’s innovation economy, with 446 new companies created in the region.

San Diego County Credit Union Opens Hillcrest Branch

The San Diego County Credit Union, San Diego’s largest locally-owned financial institution, has opened a new branch in the Hillcrest area at the corner of 5th and University avenues.

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Del Mar Heights Office Property Sold for $29.4 Million

San Diego-based Cruzan has acquired the Del Mar Corporate Plaza office property in Del Mar Heights for $29.4 million, according to brokerage company DTZ.

USD's Engineering School Gets $2 Million Grant to Promote Diversity, Bring Cultural Change to Department

The Shiley-Marcos School of Engineering at the University of San Diego has been awarded a $2 million grant to revolutionize engineering education, USD said.

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Avalon and GSK Launch Three More Biotech Companies

INVESTING: Startups Will Join Others Working At COI Pharmaceuticals

Avalon Ventures announced the launch of three new biotech companies formed through its collaboration with British drugmaker GlaxoSmithKline.

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Bank Bucks Trend With Bitcoin Service

FINANCE: Uncertainties of Currency Keep Others Away

Few banks do business with Bitcoin and other digital currency firms, and even fewer make those relationships public.

Number of Homes With Negative Equity Continues to Decline

The number of underwater San Diego homes, with owners owing more in mortgages than the homes were worth, fell by about 13,000 to 44,854 in the last year, according to a report released Tuesday by CoreLogic.

Foreclosure Rate Drops in April, CoreLogic Reports

San Diego foreclosure rates dropped another tenth of a percent in April compared to last year, with 0.4 percent of outstanding mortgage loans foreclosing, according to CoreLogic.

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Firm Sees Alternative Investments Winning More By Losing Less

FINANCE: Co. Puts 45% in Alternatives as Hedge for Bad Times

For decades, the basic makeup of an investment strategy has been 60 percent stocks and 40 percent bonds. Investors looking to further diversify might put up to 10 percent into so-called alternative investments that didn’t correlate to stock returns, including commodities, private equity or even artwork.

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MAKING GAINS

INVEST: Financial Advisors Increasingly Address Interests and Situations of Women Clients

Fewer than half of the women in a recent Morgan Stanley survey said they worked with a financial advisor, and most of those who did reported their advisor misunderstood or neglected them.

Arc Creates a Win-Win Situation for Businesses and the Disabled

WORKFORCE: Nonprofit Matches Job Skills to the Needs of Local Companies

When Anthony J. DeSalis began working for The Arc of San Diego, he had no idea that he would be there 32 years later, helping people with developmental disabilities achieve economic independence.