San Diego Business Journal

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Seminar Will Explain and Explore Angel Investing Opportunities

The San Diego Tech Coast Angels is looking for a few good investors.

Conference Will Help Create Links Among Industry, Innovators and Foreign Investors

“Making It in America” is the title of a three and half-day conference aimed at making connections for local innovators with business representatives from China, the Philippines, Thailand and Vietnam.

San Diegan Wins Boston Marathon

Meb Keflezighi, who grew up in San Diego and graduated from San Diego High School, won the Boston Marathon today, the first American man to win the prestigious race since 1983.

County Unemployment Rate Is Down Slightly in March

San Diego’s unemployment rate fell slightly to 6.9 percent in March from 7 percent in February, as the region gained 12,700 nonfarm jobs, according to the state’s Employment Development Department.

San Diego Unemployment Rate Is Down Slightly in March

San Diego’s unemployment rate fell slightly to 6.9 percent in March from 7 percent in February, as the region gained 12,700 nonfarm jobs, according to the state’s Employment Development Department.

BofI Expects Good Returns From Purchase of H&R Block Bank

BofI Federal Bank is one of the fastest-growing banks in the nation, increasing nearly $700 million in assets — or 24 percent — last year to bring its total assets to more than $3.5 billion.

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Shawne Merriman Sues Nike, Alleging Trademark Infringement

Sports: Ex-Charger Seeks To Protect Lights Out Brand

Former San Diego Charger linebacker Shawne Merriman filed a lawsuit against Nike Inc., alleging the sports gear and apparel giant infringed on his trademarked Lights Out brand.

Medical Devices Now a Major Piece of Manufacturing Puzzle

Manufacturing: Local Production Helps in Maintaining Quality Control

Once a major producer of planes, aircraft parts and canned tuna, San Diego’s manufacturing base is far different today with a decided high-tech slant.

Olympics Fever Is No Sweat for San Diego

SPORT: Exploratory Group Calmly Makes Case for U.S. Bid

There’s the Final Four, and then there’s the final three.

Opera Changes Tune on State of Its Finances

ARTS: Some Point to Previous Assurances About Fiscal State

Part of the shock that accompanied the announcement last month that the San Diego Opera will cease to exist after the just completed season stems from the public reports the company put out in recent years that painted a rosier picture of its financial condition than it’s describing today.

Kyocera Consolidates Some of Its Businesses Into Main Subsidiary

Kyocera Corp., the Kyoto, Japan-based conglomerate that has been in San Diego since 1971, said it consolidated some of its recently acquired businesses into its main subsidiary here, Kyocera America.

Mermaid Gets a Name From Chicken of the Sea Centennial Celebration

San Diego based Chicken of the Sea, which celebrates its 100th anniversary this year, finally got around to naming that little mermaid on the label. She’s (it’s) now called Catalina.

Rubio's to Hold Job Fairs to Fill Numerous Positions

Carlsbad-based Rubio’s Restaurants, now in five states and about 200 stores, said it needs to fill about 3,000 positions as it enters the busy summer season, and is holding job fairs next week to find the right team members.

Former Chargers Linebacker Goes on Offense, Sues Nike Claiming Trademark Infringement

Former San Diego Charger linebacker Shawne Merriman filed a lawsuit against Nike Inc., alleging the sports-gear giant infringed on his trademarked Lights Out brand.

Home Sales and Median Price Increase in March

Home sales in San Diego increased in March, and the median price rose 4 percent from February to $427,000, according to Dataquick, the La Jolla real estate research firm.

Mayor Faulconer Sets His Priorities With New Budget

Mayor Kevin Faulconer campaigned to make neighborhoods his priority, and his 2014-15 fiscal year budget, which he released April 14, demonstrates that, according to a mayoral staff report.

Pratt & Whitney Considers Possible Closure of Kearny Mesa Plant

Pratt & Whitney AeroPower, part of Connecticut’s United Technologies Corp., told its 535 San Diego employees last week that it’s considering integrating the operations into other Pratt & Whitney units, and may close the Kearny Mesa plant.

PriceSmart Reports Q2 Net Income of $28.3 Million

PriceSmart Inc., the San Diego-based operator of club warehouse stores in Latin America and the Caribbean, reported fiscal 2014 second quarter revenue of $674.4 million, compared with $607.4 million for the like quarter of its 2013 fiscal year.

Pratt & Whitney May Close Kearny Mesa Plant

Pratt & Whitney AeroPower, part of Connecticut’s United Technologies Corp., told its 535 San Diego employees last week that it’s considering integrating the operations into other Pratt & Whitney units, and may close the Kearny Mesa plant.

PriceSmart Reports Q2 Revenue of $674.4M

PriceSmart Inc., the San Diego-based operator of club warehouse stores in Latin America and the Caribbean, reported fiscal 2014 second quarter revenue of $674.4 million, compared with $607.4 million for the like quarter of its 2013 fiscal year

SBLF Helping Banks Lend More to Small Business, Report Shows

The Treasury Department released another report on its Small Business Lending Fund program showing that participating banks extended about 56,900 additional small business loans, representing about $12.5 billion in dollars above what the banks lent before accepting the federal funds.

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Suites at Qualcomm Upgraded in Effort to Lure Business Clients

Sports: Chargers Seek To Keep Pace With Other Stadiums’ Luxury Amenities

As the San Diego Chargers hope to upgrade their roster during next month’s NFL draft to be more competitive on the field, the team is upgrading its luxury suites at Qualcomm Stadium to be more competitive generating revenue.

Group Gathers Forces to Help Software Startups

TECH: Investors Get Chance for Informal Networking, Discussion

The leaders behind a new software-centric forum called Swarm, which seeks to bring local entrepreneurs and investors together, hope the event can reverse a disturbing trend they’re seeing.

Connect’s New Leader Eager to Have an Impact

Innovation: McKee Brings Experience in Biotech, Finance to Nonprofit Role

Greg McKee started his career as an investment banker and moved on to a series of executive jobs in biotechnology, before returning to banking.

BofI Federal to Buy H&R Block Bank

BofI Federal Bank, formerly Bank of Internet USA, said it’s agreed to buy H&R Block’s bank business for an undisclosed price.

EcoATM Names Stipp President

EcoATM, the maker of automated kiosks for trading in unwanted cellphones which was acquired by Outerwall for $350 million last year, named Maria Stipp as new president.

Former Exec Pleads Guilty to Bilking Investors, Tax Evasion

Sven Erik Ulsteen, pleaded guilty to using forged and counterfeit securities to fleece more than $2 million from California investors, according to the U.S. Attorney’s Office.

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WD-40 Reports 9% Increase in Net Sales for Q2

WD-40 Co., the San Diego-based maker of household products, reported fiscal 2014 second quarter net sales of $94.2 million, up 9 percent from the like quarter of the previous year.

San Diego City Council Appoints Member to Fill Mayor's Vacated Seat

The San Diego City Council appointed a longtime lifeguard to complete the term of former council member and now Mayor Kevin Faulconer.

San Diego Housing Prices Increase in March

The median price of a single-family house in San Diego rose in March.

Brewery Redefines 'Beer Fund'

Santee-based Twisted Manzanita Ales and Spirits, which celebrates its fourth anniversary this year, is seeking investors to help fund a planned expansion of its distribution both domestically and internationally.

Encore Capital Completes Its Acquisition of Contolling Stake in Grove Capital

Encore Capital Group Inc., the San Diego buyer and collector of charged off credit card debt, said it closed its acquisition of a controlling stake on Grove Capital Management, a British firm that is focused on insolvencies in the United Kingdom and Spanish assets. Encore didn’t say what it paid for the company.

Mind Solutions Inc. Receives $1M Funding Commitment

Mind Solutions Inc., a San Diego company developing a headset that can operate smartphones and tablets through "mind power," said it received a $1 million funding commitment from an unnamed source, allowing it to further the development of its proprietary mobile headset.

Investor Group Seeking 2 Novatel Board Seats

TECH: Concerns Over Shareholder Value Said To Be Driving Campaign

Novatel Wireless Inc., a San Diego maker of wireless modems and other communication components, was notified by a shareholder group that it’s unhappy with the way the company is managed and wants two seats on its board of directors, setting up a possible proxy fight.

Board Votes to Postpone Planned Opera Closure

ARTS: Additional $10M Needed for 2015 Season Productions, CEO Says

Apparently the fat lady hasn’t sung yet. The San Diego Opera Association, the nonprofit that has been producing first-class operas for nearly a half century, voted to postpone an earlier decision to shut down the organization because of financial constraints.

LPL Growth Creates Jobs, Need for Space

Finance: Co. Builds Tower Aimed at Motivating Workforce

LPL Financial LLC’s new 13-story office building in University City is a tangible symbol of the company’s overall growth as well as a strategy to foster its people in San Diego.

Mind Solutions Receives $1 Million Funding Commitment

Mind Solutions Inc., a San Diego company developing a headset that can operate smartphones and tablets through "mind power," said it received a $1 million funding commitment from an unnamed source, allowing it to further the development of its proprietary mobile headset.

Encore Capital Closes Acquisition of Grove

Encore Capital Group Inc., the San Diego buyer and collector of charged-off credit card debt, said it closed its acquisition of a controlling stake on Grove Capital Management, a British firm that is focused on insolvencies in the United Kingdom and Spanish assets.

Fresh Healthy Vending Reports Sales Bookings for 187 Machines at Q3

Fresh Healthy Vending International Inc., a San Diego franchisor of vending machines filled with healthy snacks such as organic coffees and health bars, said it finished its fiscal third quarter ended in March with sales bookings for 187 machines expected to generate $1.87 million in future revenue.

LPL Celebrates New Digs, 'the Largest Net-Zero Energy' Commercial Office in U.S.

LPL Financial LLC, the independent broker-dealer that has about 2,000 employees here, celebrated the opening of its 13-floor, new office tower in the University Towne Center neighborhood April 2.

Pacific Imperial Railroad Enters Strategic Agreement With Diamond, to Raise Up to $150M

Pacific Imperial Railroad Inc., the San Diego company leasing the San Diego and Arizona Railroad that runs from San Diego into Baja Norte and back to the United States at El Centro, said it entered into a strategic advisory agreement with Diamond Capital Advisors, LLC in connection with raising up to $150 million.

Opera's Death Scene Takes a Turn as Board Votes to Postpone Closure

Apparently the fat lady hasn’t sung yet.

Summit Distribution Buys Adventure 16's Wholesale Division

Adventure 16, the San Diego-based outdoor gear seller with five retail outlets in Southern California, said it sold its wholesale division to Summit Distribution LLC of Norwich, N.Y., for an undisclosed price.

Scaled-Down Balboa Park Centennial Celebration Begins to Take Shape

Expect a scaled down but community-oriented celebration of Balboa Park’s centennial, starting on the December Nights event and finishing on that same weekend in 2015, announced Mayor Kevin Faulconer and City Council President Todd Gloria.

Credit Rating for a San Diego-Based Auto Insurer Is Downgraded

A.M. Best, a New Jersey-based firm that rates the financial health of insurers, said it downgraded the issuer credit rating for San Diego-based auto insurer Anchor General Insurance Co. from bbb+ to bbb, and affirmed the financial strength rating at B++ (Good).

SDSU's College of Business Administration Is Honored for Diversity Outreach

San Diego State University’s College of Business Administration, already widely-recognized as a top-rated business school, said it was named as one of the top MBA schools in the United States by Professional Women’s Magazine in its 2014 Best of the Best lists for the second year in a row.

Credit Rating for San Diego-Based Auto Insurer Is Downgraded

A.M. Best, a New Jersey-based firm that rates the financial health of insurers, said it downgraded the issuer credit rating for San Diego-based auto insurer Anchor General Insurance Co. from bbb+ to bbb, and affirmed the financial strength rating at B++ (Good).

SDSU's College of Business Administration Honored for Diversity Policies

San Diego State University’s College of Business Administration, already widely-recognized as a top-rated business school, said it was named as one of the top MBA schools in the United States by Professional Women’s Magazine in its 2014 Best of the Best lists for the second year in a row.

Bank Is Aiming for a Better Balance After Failing Big Stress Test

The results of the biggest banks’ stress testing are in, and everyone passed except for Zions Bancorporation.

IM Custom Builds a Better Foot Scanner and Takes Off Running

INNOVATION: Technology Produces a 3-D Image of Feet To Create Custom Insoles

Glen Hinshaw was so dedicated to ensuring his three-dimensional foot scanner was made correctly he took up residence at a few factories in China for about a year and a half.

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