San Diego Business Journal


Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Port Staff Recommends 2 Finalists for Anthony’s Fish Grotto Site

Unified Port of San Diego staff have recommended that the port district enter into negotiations with two locally based finalists – Brigantine Inc. and Sunroad Enterprises -- to potentially replace Anthony’s Fish Grotto when its downtown restaurant lease expires.

City of San Diego's Fiscal Health Markedly Improved, Auditor Says

San Diego’s financial health has improved dramatically over the past decade, recovering from a pension crisis and fiscal mismanagement that brought the city close to bankruptcy, according to a report from the city auditor Thursday.

Renovate America Completes $159.8 Million Securitization

Renovate America, a provider of Residential Property Assessed Clean Energy financing, said Thursday it finished the fourth securitization of PACE (Property-Assessed Clean Energy) bonds by issuing $159.8 million in notes.

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Employee Stock Plans Show Increase Locally

FINANCE: Owners Can Sell; Workers Profit from Profits

Attorney Marc Schechter specializes in helping business owners sell their companies, not to competitors or family members, but to their own employees. Schechter’s firm, Butterfield Schechter LLP, is one of the largest in Southern California to focus on employee stock ownership plans (ESOP) and has seen a spike this year.

County Retirement Fund Changes Course

FINANCE: New CIO Takes Less Leveraged Approach

There’s been a sea change at San Diego County’s $10.3 billion pension fund.

County Pension Board Names Chief Legal Officer

The board in charge of San Diego County’s $10.3 billion pension fund said Wednesday it hired the top lawyer at the city’s pension fund as its chief legal officer, the county pension’s first in-house general counsel in more than a decade.

Index Finds Region's Economic Health Improving Slightly

An index of San Diego’s economic health rose slightly in June even as San Diego’s growth continued to slow, the University of San Diego said Tuesday.

SBA Lending on Pace for Possible 'Record-Setting Year'

San Diego and Imperial County banks and other lenders issued 663 Small Business Administration-backed loans worth $287 million in the past nine months, about a 20 percent increase from last year, the SBA said recently.

Insight San Diego Report Card Sees Room for Improvement

San Diego received passing, but middling, grades on its economy, environment and social equity, according to a local report card backed by the San Diego Regional Economic Development Corp. and others.

Suneva Medical Raises $35.4 Million in Capital

San Diego-based Suneva Medical Inc., a developer of facial skin products, announced the closing of a $15 million equity investment by Almirall Inc., an affiliate of Almirall S.A., a global pharmaceutical company primarily focused within the therapeutic area of medical dermatology.

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Excel Shareholders Approve $2 Billion Acquisition By Blackstone

Shareholders of San Diego-based Excel Trust Inc. have formally approved the previously announced acquisition of the company by Blackstone Group, in a deal valued at approximately $2 billion.

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Second-Quarter Revenue, Income Rise at Realty Income

San Diego-based Realty Income Corp. saw revenue rise 11.1 percent from a year ago in its second quarter ending June 30, reaching $253.9 million.

BofI Holding Inc. Reports Q4 Net Income of $24.4 Million

BofI Holding Inc., the parent company of San Diego-based BofI Federal Bank, reported fourth-quarter net income of $24.4 million on Thursday, a 52 percent increase over the year before and the 14th consecutive quarter of record earnings.

CrediautoUSA Announces Completion of $75 Million Credit Facility

CrediautoUSA Financial Co. LLC announced the completion of a capital facility which provides up to $75 million to facilitate the acquisition by Crediauto of nonprime automobile financing contracts.

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American Assets Trust Posts Increase in Revenue, Income

American Assets Trust Inc. reported revenue up 7.3 percent from a year ago for its second quarter ending June 30, reaching $66.7 million.