San Diego Business Journal

SD FINANCE

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

Survey: Apartment Vacancy Rate Up from 2014

ECONOMY: More Units, Deployments Influence Availability of Rentals

The region’s apartment vacancy rate now stands at 4.1 percent, up slightly from the spring and fall of 2014, according to newly issued results of a spring survey by the San Diego County Apartment Association.

Local Credit Union Taps Corpuz as Senior VP

FINANCE: Industry Veteran Will Oversee Business Lending

The San Diego County Credit Union has named Michael Corpuz its senior vice president of business lending.

RISING IN THE WEST

ECONOMY: New Program Part of Japan and S.D.’s Shared Interests, Ambitions

The University of California, San Diego is launching a new program to promote the sharing of ideas, talent and venture capital between Japan and San Diego.

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Michael Corpuz Joins San Diego County Credit Union as Senior VP

The San Diego County Credit Union, the largest locally-owned financial institution, has named Michael Corpuz its senior vice president of business lending.

California Economic Activity Index Dips Slightly in March

Comerica Bank’s California Economic Activity Index declined in March, decreasing 0.6 of a percentage point to a level of 118.8, Comerica said.

Foreclosure Rate Dips Slightly in March

San Diego foreclosure rates fell one-tenth of a percentage point in March compared to last year, with 0.42 percent of outstanding mortgage loans foreclosing, according to CoreLogic.

IBM VP Joins Grant Thornton's San Diego Office

Chicago-based tax and advisory firm Grant Thornton LLP said Tuesday it was adding a former IBM vice president to its San Diego office as a principal in its advisory practice.

County Unemployment Rate Drops to 4.8%

San Diego’s unemployment rate fell to 4.8 percent in April, the lowest since December 2007, according to California Employment Development Department figures released on April 22, below the California unemployment rate of 6.3 percent and the national rate of 5.1 percent.