SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...Loan on Park Hyatt Aviara Returned to Special Servicing
A $186.5 million loan backing the Park Hyatt Aviara in Carlsbad has been placed back in special servicing because of a payment default by the borrower.
Local Unemployment Rate in March Was 7.7 Percent
San Diego’s unemployment rate in March dropped to 7.7 percent down from a revised 8 percent in February, and the lowest it’s been since December 2008, according to the state’s Employment Development Department.
Some Local U.S. Bank Branches to Get Solar Panels
U.S. Bank locations in Scripps Ranch and Emerald Hills are among eight Southern California bank branches that will get solar panel installations from SolarCity, the two businesses announced.
Hesitant Banks Boost Hard Money Market
FINANCE: Home Flippers Flock To Lenders for ‘Easier’ Money
Hard money or private financing companies that make loans that banks would never touch are busier than ever these days.
Exit From Small Bank Draws a Big Severance Deal for CEO
Finance Column
Top executives exiting with lucrative golden parachutes when their companies are acquired isn’t new, but it’s less common among small community banks.
Finding Long-Term (Care) Solutions
INSURANCE: Policies Are An Attractive Job Benefit, But Can Be Complicated
Employers continue to explore long-term care insurance to pad their benefits packages, in large part to attract and retain key talent. This is because long-term care insurance can be a boon to employees who foresee caring for aging family members, or who want to protect their own assets as they age.
Komen Shares the Wealth With Area Health Care Agencies
Kudos/Giving Column
Susan G. Komen for the Cure, San Diego awarded $1.4 million to breast health programs throughout San Diego County at its annual Grant Award Ceremony recently.
Small Businesses Will Need Help Navigating New Health Care Course
INSURANCE: Law’s Complexities, Uncertainties Need to Be Understood
Small business owners in San Diego County will need to brush up on federal health care reform regulations in order to take full advantage of new tax incentives and potentially lower insurance costs.
Fundraiser Delivers $1M on Mission to Support the Troops
Kudos/Giving Column
The Del Mar Country Club hosted the second annual fundraiser to support the SEAL-Naval Special Warfare Family Foundation, which raised more than $1 million.
New SEC Rule Changes for IPOs Understates Actual Pipeline
FINANCE: Rule Change Allows More Secrecy for Small Firms
With the broader stock market surging, investor appetite for new companies through initial public offerings is also percolating.
Art Auction Draws Good Crowd for Alzheimer’s Group Event
Kudos/Giving Column
The Alzheimer’s Association San Diego/Imperial Chapter held the 16th annual Memories in the Making Art Auction recently at the Hahn University Center at the University of San Diego. The event raised more than $150,000 to support the San Diego/Imperial Chapter of the Alzheimer’s Association.
County Retirement Fund Ponders Making Loans
FINANCE: Direct Lending Would Be Managed By a Firm
The board that oversees the $9.1 billion pension fund for San Diego County retirees is considering deploying some of that capital into direct business lending.
Home Bank Relocates to a Better Business Climate
BANKING: Kearny Mesa Move Part of New Lending Strategy
Home Bank of California, one of the area’s smallest but most profitable lenders, found a new home as it shifts its strategy to pursue more business loans.
San Diego Private Bank Merger Details Emerge in Proxy Reports
Finance Column
Reading proxy reports can be fun if you’re into that sort of thing, or if you’re a big shareholder or an employee of the affected companies.
Moores Gives $2M to Aid Scripps in Battling a Very Bad Bug
Kudos/Giving Column
Local philanthropist John Moores donated approximately $2 million to The Scripps Research Institute. The funds will be used for the development of a new field test for river blindness, a parasitic infection that affects tens of millions of people in parts of Africa, Latin America and other tropical regions.
