San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Governor, Legislative Leaders Reach Agreement to Hike Minimum Wage to $15

Gov. Jerry Brown and state legislative leaders on Monday backed a proposal to hike the statewide minimum wage to $15 an hour by 2023.

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Office Owner Secures $31.5M in Refinancing

An affiliate of San Diego-based Davlyn Investments has obtained $31.5 million in acquisition refinancing for the Northridge Summit office building in Scripps Ranch, according to NorthMarq Capital, which arranged the financing.

State EITC Benefits Economy, Small Businesses

Much of the talk surrounding the benefits of California’s new Earned Income Tax Credit (EITC) is about how much it will help low-income workers and their families. There’s a good reason for that: It is new money put directly in the pockets of the hard-working people who need it most.

PICO Settles Two Disputes With Shareholder Activists

INVESTing: Company Avoids Board Battle, Seeks To Leverage Water Rights

PICO Holdings Inc., a company with interests in water and land rights, has quashed a brewing battle with shareholders over control of its board, signing deals with two vocal activist investors that will avoid a special vote on its board makeup.

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Loan Servicer Leverages Growth in Alt Lending

FINANCE: First Associates Excels at Educating Consumers

When David Johnson was searching for something to rescue him from the doldrums of retirement in 2008, he honed in on First Associates Loan Servicing LLC.

Report Details Top 10 Careers for San Diego Graduates

The most promising careers for young San Diegans are increasingly reliant on data skills, according to a report Tuesday from University of California, San Diego Extension, with analysts making up half of the region’s top emerging careers.

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Doug Wright Named CFO at Mission Federal Credit Union

Mission Federal Credit Union on Monday said it has hired Silvergate Bank’s former CFO to fill the same role at Mission Federal.

County Construction Employment Climbs 7%

San Diego gained 4,800 construction jobs over a 12 month period, according to the Associated General Contractors of America’s data analysis.

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Retail Center Owner Obtains $22.75M in Refinancing

Solana Beach-based property owner The Shamrock Group LLC has obtained $22.75 million in refinancing for its San Ysidro retail property known as The Plaza at the Border, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

Unemployment Rate Is Flat for February

San Diego’s unemployment rate stayed flat in February at 4.7 percent, as job gains kept pace with the growth of the county’s labor force.

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Rock the House Strengthens 2-1-1’s Connection to Community

The 2-1-1 San Diego “Rock the House” launch party raised more than $250,000 for its NextGen technology and its new 30,000-square-foot Connections Center. 2-1-1 San Diego is a free, 24-hour, confidential phone service and searchable online database for residents of San Diego County.

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New Investment Rules May Not Draw Crowd

FINANCE: $1M Annual Cap May Limit Appeal to Small Cos.

Crowdfunding appeared to get more interesting to most investors this past fall, when federal regulators unveiled new rules that would allow even those without large salaries to buy company shares through online crowdfunding portals. But experts are doubtful the new option will catch on quickly when it debuts in May.

New R&D Tax Credit Ditches Temp Status

FINANCE: It’s Permanent And More Far Reaching

A revamped tax credit recently passed by Congress will provide enormous benefit to innovative businesses, should they choose to use it. San Diego’s life science firms in particular should pay close attention.

HomeStreet Bank Opening Two Branches in San Diego

Seattle-based HomeStreet Bank on Monday said it was expanding into San Diego with two branches opening this month.

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Regulations Costly for Local Foreign Investment

There are more than 700 Japanese-based companies with offices located in Southern California, one of the highest concentrations of Japanese companies located outside of Japan.