SD FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
FINANCE: Appreciation Is Determining Factor in Profits
Homeowners with most of their equity tied up in their house often turn to home equity lines of credit or reverse mortgages to get cash for retirement, start new businesses or do expensive renovations.
WORKFORCE: Critics Say Program Undercuts Citizens
The growing demand for highly skilled foreign workers in biotech and information technology is rekindling debate about the motivation driving companies to hire foreign talent.
The San Diego County Employee Retirement Association, which oversees a $10.6 billion pension fund for about 40,000 members, said May 21 it was appointing a chief investment officer to take over from Salient Partners, the group’s current portfolio manager.
Cidara Therapeutics Inc. reported May 21 a net loss of $6.7 million for the first quarter of 2015, up from a net loss of $707,000 in the same quarter of last year.
Mission Fed CEO Debra Schwartz to Serve Additional Term on Board of National Association of Federal Credit Unions
Mission Federal Credit Union CEO Debra Schwartz will serve an additional three-year term on the board of directors for the national credit union trade group, the association said.
San Diego County credit unions reported a collective $9.65 billion worth of loans, a 20 percent jump between April 2014 and March 2015, according to a new survey from the California Credit Union League.
Sevion Therapeutics Inc., a biopharmaceutical company developing therapies for cancer and immunological diseases, has raised $3.02 million in equity financing according to a recent statement filed with the Securities and Exchange Commission.
FINANCE: Local Cos. On Big Growth Curve With Financial Services
As recently as 10 years ago, few companies would give much thought to entrusting their financial services to an outsider.
FINANCE: Companies Turn to Consulting Firms For the Expertise Needed to Expand and Thrive
As San Diego businesses reach for international markets, roll out new product lines or get ready to be sold, the accounting management consulting firms that cater to them are experiencing healthy revenues and looking to expand.
When Kurt Chilcott thinks about Stone Brewing, he remembers the loan he helped the craft brewer get from the Small Business Administration to create a production facility and restaurant in Escondido.
PICO Holdings Inc., a diversified holding company based in La Jolla, reported a first quarter net loss of $16.8 million on revenue of $84.7 million. The same quarter last year produced a net loss of $13.2 million on revenue of $61.3 million.
San Diego County Credit Union’s total assets grew to $6.9 billion in the quarter ending March 31, a 6 percent increase from the same period last year, the credit union said Thursday in its earnings report.
Strata Equity Group Inc. of San Diego has purchased a 12-property, three-state apartment portfolio from an affiliate of New York-based Blackstone Group, after obtaining approximately $494.8 million in acquisition financing.
Moody’s Investors Service said that it assigned one of its top ratings to Qualcomm Inc.’s proposed bond issue.
Pure Financial Advisors Inc., a Mission Valley-based investment managing firm, promoted its CFO and tax planning director Alan Clopine on Tuesday to CEO. The company's founder and current CEO Michael Fenison will step away from most executive responsibilities to work on the firm’s expansion efforts.