SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
Shamrock Group Gets $40 Million Construction Loan for Border Outlet Center
Development firm The Shamrock Group LLC, based in Solana Beach, has obtained a $40 million construction loan for a new outlet shopping center it is building in San Ysidro.
Welk Resort Group Completes Securitization
Welk Resort Group, the San Diego developer and operator of resort properties, said it closed a $158.7 million securitization backed by notes receivable from vacation ownership interests.
Ignyta Raises $54M in 2 Private Placements
San Diego-based cancer drug developer Ignyta Inc. has raised $54 million in two separate stock offerings, exceeding the company’s original target of $35 million.
Volcano to Repurchase $200M in Stock as Part of 'Strategic Reprioritization Initiative'
Volcano Corp. has authorized a $200 million share repurchase program — which is in line with the advice from an activist investor who is reportedly grooming the company as an acquisition target.
Bank of America Tower Sold for $73 Million
The downtown San Diego office tower at 450 B. St., known locally as the Bank of America Tower, has been sold for $73 million, according to CoStar Group and public data.
Orexigen Plans $100M Senior Notes Offering
San Diego-based Orexigen Therapeutics Inc. is planning a $100 million offering of convertible senior notes, the company announced.
Several Local Companies to Present at Major Health Care Conference
San Diego companies will be well represented at the 25th Annual Piper Jaffray Healthcare Conference set for Dec. 3-4 in New York City.
Kratos Decides Against Refinancing $625M Bond
Market conditions are no longer right for Kratos Defense & Security Solutions Inc. to refinance a $625 million bond, company CEO Eric DeMarco said recently.
Nonresidential Construction Malaise Reflects Uncertain Economy
Real Estate Column
San Diego County and the nation are in the midst of steady post-recession recovery when it comes to new construction projects, by most indicators; however, many contractors are not yet in a mood to celebrate.
Going to the Beach Is Entrepreneur’s Business Plan
STARTUPS: Co-Working Site Plans P.B. Location For Innovation, Inspiration
To Raymond Hivoral, the beach and entrepreneurship are like ice cream and a 90-degree day — they go together.
Shortage of Local Banks for Sale Drives Median Price Up for Buyers
Finance Column
Bank merger activity slowed this year nationally, but prices paid are getting richer, according to a recent study by SNL Financial, a Virginia-based financial research firm.
With Retirement, You Can Pay Now or You Can ‘Pay’ Later
FINANCE: Those Who Haven’t Saved May Find Golden Years Tarnished
As many older employees look at the time they have left before they retire, many realize they haven’t saved enough and are opting to continue working, local wealth advisers said.
Trigild Completes $50.8 Million Receivership Sale of Office Building
San Diego-based Trigild has closed a $50.8 million sale of a Rancho Cucamonga office building for which it had been appointed receiver.
EU Gives Conditional Approval for Acquisition of Life Technologies
The European Union gave conditional approval to the purchase of Carlsbad-based Life Technologies Corp. by Thermo Fisher Scientific Inc.
Local Unemployment Rate Is 7% for October
San Diego’s unemployment rate for October was 7 percent, unchanged from September and matching the nation’s overall jobless rate for the same month, according to the state’s Employment Development Department.
