TRADE: Recent Departure Of Ex-CEO puts Nonprofit In State of Transition
Samuel Kephart heads an organization that helps companies strike highly profitable international business connections while receiving little benefit from those deals itself.
ACQUISITIONS: Big Deals Dominate the Scene in 2013 As San Diego Is Sellers Market
A soaring stock market spurred a spate of San Diego company acquisitions this year, with six exceeding billion-dollar valuations.
INFRASTRUCTURE: Carlsbad Desalination Project Gets Green Light
The San Diego region saw a $1 billion dollar project get finished this year, and another one for about the same cost get underway.
GOVERNMENT: Labor Gains Power; Downtown Focus Fades for Both Parties
No matter who wins San Diego’s mayoral runoff election in early 2014 between City Council Members David Alvarez and Kevin Faulconer, it won’t change the noticeable shift in the balance of power on the council that has taken place the past five years or how it impacted the business community during 2013.
An index measuring San Diego’s economy fell 0.4 percent in October, the first time it’s dropped since August of 2012.
Hall of Famer and longtime Padres great Dave Winfield was named as a special assistant at the Major League Players Association, joining recently appointed executive director Tony Clark.
Reaction Design, a San Diego developer of chemistry simulation software, said it entered into a definitive merger agreement with Ansys Inc., a Pittsburgh maker of engineering software.
San Diego County apartment rents during the fall declined 1 percent, while the vacancy rates continued to decrease, according to a recent report from the San Diego County Apartment Association.
Welk Resort Group, the San Diego developer and operator of resort properties, said it closed a $158.7 million securitization backed by notes receivable from vacation ownership interests.
PROPERTY: Housing Market Changes Give Investors Incentive to Rent
Business partners Imran Clark and Darrell Kucan were among the risk-takers in the wake of the housing market collapse, buying houses mainly through short sales — in which banks approved offers below the amount owed on their loans — and often flipping houses in a few days.