SD FINANCE

City Picks Connect for Accelerator Program

ECONOMY: S.D. Uses $2.5M Grant; Space Provided By Center

Local nonprofit Connect, San Diego’s oldest startup accelerator, has won a contract to partner with the city on a new publicly-funded accelerator program for startups.

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Renovate Reorganizes, Reviews Its Practices

FINANCE: New CEO Among Changes at Lending Company

A major leadership reorganization is underway at Renovate America as well as an independent review of its business practices following a news account alleging a federal investigation into the company.

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Redevelopment Planned after $9.5M Downtown Hotel Purchase

An affiliate of San Diego-based Hotel Investment Group has acquired the 157-room Marina Inn hotel in downtown San Diego for $9.5 million.

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Salk Institute for Biological Studies' Revenues Reach $134 million

Revenues at the Salk Institute for Biological Studies in La Jolla totaled $134 million in the fiscal year that ended June 30, up 13.5 percent from the previous fiscal year.

Reliant Funding Hires New CFO

Reliant Funding, a rapidly growing alternative lending company based in San Diego, has hired Paul Norman as chief financial officer.

Connect Partners with S.D. in $2.5M Public Accelerator Program for Startups

Local nonprofit Connect, San Diego’s oldest startup accelerator, has won a contract to partner with the city on a new publicly-funded accelerator program for startups.

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PICO Holdings to Explore 'Strategic Alternatives'

La Jolla-based PICO Holdings Inc. has hired a financial advisor and legal counsel to explore “strategic alternatives to further enhance shareholder value,” an announcement which typically signifies interest in a merger, sale or other significant transaction.

Zogenix's Success No Longer Shared With San Diego

Drugmaker Zogenix Inc. saw its value more than double over the weekend, so those following San Diego biotech might think the local company is making a comeback.

Seacoast Commerce Acquires New Bank, Increases Assets to $895M

Seacoast Commerce Bank has acquired San Juan Capistrano-based Capital Bank.

Ron’s Pharmacy and Guardian Pharmacy Acquire Anaheim Plaza Pharmacy

San Diego-based Ron’s Pharmacy and Guardian Pharmacy have acquired Anaheim Plaza Pharmacy.

Local Economic Index Ticks Up in August

An index of leading economic indicators in San Diego County rose 0.1 percent in August, compared to the previous month.

Mama’s Kitchen Honored at Capitol for Serving Community

Mama’s Kitchen announced that it was selected as a “Nonprofit of the Year” at a celebration for California Nonprofits Day at the state Capitol in Sacramento. The San Diego-based nonprofit was honored alongside the other award recipients for its commitment to preparing and delivering three nutrition-specific meals a day, every day of the year, free of charge, to men, women and children affected by AIDS, cancer or other illnesses throughout San Diego County.

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Aquam Wins $5K and Valuable Mentoring at Hera Venture Summit

Cleantech startup Aquam LLC took home first place — and $5,000 in prize money — at this year’s Hera Venture Summit.

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Baby ‘Book’ Co. Qeepsake Takes Big Step With Help of Accelerator Techstars Anywhere

In a city sometimes criticized for its lack of startup resources, tech company Qeepsake is leveraging virtual programs to help it grow.

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GE Employees File Class-Action Lawsuit in San Diego

Three General Electric employees have filed a lawsuit in federal court in San Diego, alleging the company’s retirement fund investments breached its fiduciary duties, leading its employees to suffer hundreds of millions of dollars in losses in retirement savings.