SD FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
FINANCE: County Considers Trying Path With Less Risks
San Diego County’s employee pension fund would be better off adopting a safer, more traditional investing model rather than the higher-risk one now in place, said several investment professionals.
Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.
Lucia Capital Group, a San Diego wealth management firm whose principals include Ray Lucia Jr. and Joe Lucia, the son and nephew of longtime local financial advisor Ray Lucia, said it acquired West Coast Asset Management of Montecito, an advisory firm that manages about $170 million in assets.
A new, comprehensive look at the U.S. Department of Defense’s local presence predicts that the military spending that San Diego County enjoys will decline one percent in the new fiscal year, which begins on Oct. 1.
Cytori Therapeutics, a cell therapy company in San Diego, announced an updated strategy and plan to restructure its operations and reduce costs.
Bixby Land Co. of Irvine has purchased four San Diego office buildings, in deals totaling $21.8 million, with plans for more than $16 million in renovations.
Guild Mortgage, a San Diego mortgage lender that has more than 200 branch and satellite offices in 23 states, said it acquired Comstock Mortgage, an independent mortgage lender in Sacramento with 15 offices.
Overland Storage, the San Diego data storage systems provider that entered into a definitive agreement to be acquired by a Canadian software company earlier this year, reported fiscal 2014 fourth quarter revenue of $24.2 million, up 101 percent from the like quarter of the prior fiscal year.
Lpath Inc., a San Diego-based company working on bioactive lipid-targeted therapeutics, announced that it has entered into definitive agreements to sell 3,605,042 registered shares of common stock and 3,605,042 unregistered warrants in a registered direct offering totaling $12.5 million.
San Diego’s unemployment rate fell to 6.2 percent in August, down from a revised 6.6 percent in July.
San Diego-based Covario has agreed to sell its search and content marketing agency business to London-based Dentsu Aegis Network, the businesses announced on Sept. 17.
The Bank of Southern California, based in Carmel Valley and with six branches, grew its total assets and net income in the second quarter, reflecting a general recovery the region is finally seeing.
LABOR: Commercial Business Including 5 Tankers Drives Need
After half a decade of job cuts, General Dynamics Nassco is changing course by hiring large amounts of workers.
Aiming to boost innovation and entrepreneurship in San Diego, University of California has announced plans for a venture capital fund to finance startups created on campuses, offering financial backing to the university-housed projects of which VC firms often steer clear.
Escondido-based Realty Income Corp. is conducting a public offering of $250 million in senior unsecured notes, expected to close on Sept. 23.