August 29, 1997

    What does the well-dressed construction worker wear when blasting concrete, placing steel beams, tunneling, handling hazardous materials or welding sheet metal? You can find out at a Safety Fashion Show and dinner Sept. 10. Sponsored by the Associated General Contractors ' San Diego chapter, the show will take place at the San Diego Princess and be followed the next day by a day-long contractors' safety event. Call (619) 558-7444 for more information.

***

    In a survey by Carvel Ice Cream Bakery, San Diegans ranked near the bottom when it came to people who made wishes while blowing out candles on a birthday cake. Least like to wish were San Francisco residents, followed by Los Angelenos and then San Diegans. New Yorkers were the most wishful.

***

    Supervisor Ron Roberts is on line at www.co.san-diego.ca.us/cnty/bos/sup4/.

***

August 28, 1997

    Doug Manchester, chairman and CEO of Manchester Resorts, says he's delegating day-to-day operations to a three person executive committee. The three chosen ones are Richard Gibbons, the new CEO; Peter Litrenta, senior v.p.; and Bradford Raulston, COO.
    "I place a great deal of trust and confidence in these gentlemen," Manchester says. By turning over the day-to-day operations to such talented and professional managers, I can spend more time focusing on Manchester Resorts strategic direction as we move into the next century. Our mission is to acquire, develop, construct and operate high quality properties in the Western U.S. while contributing to the quality of life of people and communities in which we are located."
    One of San Diego’s most prolific commercial developers, Manchester owns and works out of the Hyatt Regency San Diego.

***

    Randy Herrel, president and CEO of Carlsbad-based Ashworth, the golf clothing giant ($75.5 million in sales) was featured recently in an OC Metro article on high-profile residents of the posh Newport Coast development in Orange County.

***

    As a former teacher in Kentucky and San Diego, Maurice Dick spent time reading, listening to and watching economic market reports. A self-taught investor, he understands the importance of choosing projects which minimize risk. As such, friends and family were shocked when Maurice deviated from his "Southern" personality of careful deliberation and succumbed to impulse, purchasing a Harbor Club condominium in downtown San Diego virtually on the spot.

***

    To comply with the approved student-to-parking-space ratio, three buildings at the National University campus in Mission Valley were demolished to make room for additional student parking. Other buildings on campus may be sold if a proposed amendment to its conditional use permit is approved, as National University is relocating some of its departments to other areas of San Diego.

***

August 22, 1997


    In the second quarter of 1997, San Diego companies were the dominant recipients of U.S. venture capital funding, reports the quarterly Price Waterhouse National Venture Capital Survey. Of the $150 million in investments, San Diego biotechs captured $53 million, or 35.3 percent, far outdistancing second-place New England's $29 million and Silicon Valley's $28 million.
    Overall, driven by an unprecedented increase of investments in high-technology companies, venture capital activity across the United States surged to an all-time high in the second quarter of 1997 and set a pace to break 1996s record levels, reports Price Waterhouse. Venture capital investments hit a record-setting $3.18 billion in the second quarter breaking the $3 billion barrier for the first time easily eclipsing the previous mark of $2.8 billion invested in the second quarter of 1996. The number of companies receiving venture capital backing also reached a new level with 697 companies receiving funding a 23 percent increase from the same period last year.
    "This is a great time to be an entrepreneur," says Donald A. McGovern , chairman of the Price Waterhouse Technology Industry Group. "More venture capital is going into more companies than ever before. It’s an exciting time."

***

    Qualcomm Inc. reports that Sprint PCS, one of the largest Personal Communication Services (PCS) providers in the U.S., has signed an agreement valued at ever $50 million for the purchase of Qualcomm's Code Division Multiple Access (CDMA) digital PCS Q phones. The agreement provides Sprint PCS with Q phones for distribution throughout Sprint PCS' nationwide CDMA digital network.
    Sprint PCS chose Qualcomm's palm-sized Q phone for its unique design, enhanced feature set, and the established performance qualities of CDMA, including crystal clear voice quality and enhanced security. The phones will be co-labeled with the Qualcomm and Sprint brands. Sprint PCS will distribute Qualcomm's Q phone to customers through Sprint PCS retail stores and direct sales channels, as well as major retail and electronics stores. In addition, Sprint PCS' launch of Qualcomm's Q phone will be supported via Qualcomm's multi-million dollar national television, radio and print advertising campaign.
    "Sprint chose CDMA to provide the highest quality wireless service to their customers," says Paul E. Jacobs, president of Qualcomm's Subscriber Products Division. "In choosing the Q phone, Sprint PCS will continue to provide that quality of service in the palm-sized package that consumers have been anticipating since the launch of PCS."
    "The Q phone from Qualcomm delivers what everyone thought was two or three years away — the smallest folding phone with the technology that offers the best voice clarity, CDMA," says Andrew Sukawaty, chief executive officer of Sprint PCS. "We believe the Q phone, combined with our expanding nationwide PCS network, will make our fall line-up of products unbeatable for our retailers and customers."
    Qualcomm's CDMA digital PCS Q phone is the sleek new palm-sized folding phone that features a wide variety of options. Automatic call answer enables users to respond to a call by simply opening the phone. For those who prefer caller ID, users may opt to have the phone display the incoming number upon opening and choose to answer with a single touch of a button. The ergonomically designed Q phone also offers users short messaging service and voice mail alert, as well as programmable ringers and a choice of call alerts, including a new vibration mode that silently notifies users of a call or page.
    The Q phone complements Qualcomm's entire family of advanced CDMA digital phones, including the QCP series of cellular and PCS portable phones and the QCT series of cellular and PCS fixed wireless phones.

***

    Valle de Oro Bank has introduced a "No Fee - Fly Free" Visa Gold credit card. The card offers frequent flyer miles on any airline. As a promotion, the bank is offering 8.9 percent APR through June 1998. After that, the rate reverts to 13.9 percent.

***

August 21, 1997

    Taylor Made Golf in Carlsbad has sent three custom vans out to cruise the country. Hitting the San Diego, Chicago and Orlando markets first, the vans are being used to demonstrate Taylor Made's services and products, including custom club fitting, mobile driving ranges and its popular Ti Bubble 2 line of clubs. The vans are 25 feet long and more than six feet from floor to ceiling.

***

    Seven San Diego technology and engineering companies have designated five public high schools to receive donations of computer-related items through the Technology Opportunities for Public Schools program.
    Businesses donating and the schools receiving the equipment are: Action Instruments (La Costa Canyon High); Airline Interiors (Mira Mesa High); Blue Data (La Jolla High); Elgar Corp. (Mira Mesa High); Mission Power (El Camino High); On Point Technology (Mira Mesa High): and Wintriss Engineering (Westhills High).

***

    UCSD has received the 1997 Excellence in Human Resource Management Award for its human resources policies. The award, the fifth prize UCSD has received in the last four years for its human resources efforts, was presented by the College and University Personnel Association at its national convention. Other universities winning the honor were the University of Michigan, Indiana University-Purdue University, Hawkeye Community College and a consortium of four eastern colleges.

***

 August 20, 1997


    The College of Business Administration at San Diego State University is tabbed as one of the "25 Best Business Schools for Entrepreneurs" in the September issue of Success magazine. It’s the second time for the school.
    This is the fourth annual listing of top entrepreneurship programs published by Success , and it spotlights the most innovative and high-quality programs. To be eligible for consideration, a school has to offer at least three distinct courses in entrepreneurship in its MBA program. Success reviewed 142 graduate business schools across the country.
    "This is a great honor for our Entrepreneurial Management Center and the faculty, students and staff who have worked so hard to create a first-class program," says Michael Hergert , dean of the college. "We have had tremendous support from the community, which has allowed us to build one of the top programs in the nation. This national ranking is a recognition of our role as a leader in entrepreneurship education."

***

    Off 5th, which is Saks Fifth Avenue's outlet store, opens friday in Mission Valley in the Park Valley Center at 1750 Camino de la Reina.

***

    The first Bank one ATM in a Mail Boxes Etc. center starts dispensing money on Aug. 21 at a Carlsbad MBE located in the Ralph's Shopping Center at 7040 Avenida Encinas. The partnership launch brings together the world's largest franchisor of neighborhood retail business and postal centers with a $115.5 billion asset bank.
    The Carlsbad MBE getting the first Bank One ATM is owned by Jack and Colleen Campbell.

***

    Merchants Passage, a Downtown marketplace of sorts where artists, decorators and collectors can display and sell their wares, is set to open today at the corner of Eighth and Island avenues. Owned by Solana Beach Councilman Joe Kellejian and his wife, Mary, the business is in the East Village (Center City East) area of Downtown San Diego already populated with small galleries.
The Merchants Passage building itself is a renovated auto restoration warehouse.

***

    Douglas Wheeler, a veteran of San Diego’s hotel marketing industry, is celebrating the second anniversary of his business, Conference Locaters International, with a move to larger offices at 7380 Clairemont Mesa Blvd. CLI locates and secures group conference space and accommodations at worldwide hotels and resorts.
    Wheeler, CLI president, has more than 16 years of conference and group sales marketing experience. In San Diego, he worked in the marketing and sales departments of hotels such as L'Auberge Del Mar Resort and Spa, Colonial Inn, Rancho Valencia Resort, La Valencia Resort, La Valencia Hotel and La Costa Resort and Spa.

***

    Sycuan Casino removes today 26 video gaming machines, 6 percent of its total, in order to comply with the recent agreement between local tribes and U.S. Attorney Alan Bersin. And additional 10 percent of the machines are to go in storage by Sept. 30 under the same agreement.

***

 August 19, 1997


    Receptor Technologies is moving from Vermont to San Diego and changing its name to Acadia Pharmaceuticals . The name change reflects a shift in strategic focus towards new drug lead discovery.
To support its new strategic direction, the company has leased a 28,000 square foot facility in Sorrento Valley , which will house corporate headquarters and U.S. research laboratories. Operations will gradually move from the current headquarters in Vermont, with the transition completed by the end of the year. The company will also continue to expand its research capabilities at its 13,000 square foot laboratory facility in Glostrup, Denmark.
    "Our company is moving forward at an incredible pace. We felt the move to San Diego was essential: the biotech community is thriving, there is tremendous support and interaction among companies and world renowned academic institutions. In this positive business climate, it will be easier to continue to recruit top people to expand our scientific capabilities," says Mark R. Brann , president and chief scientific officer.
    "We also felt the name change was essential. 'Pharmaceuticals' reflects our strategic focus on discovery of new drug leads. We have chosen a name, 'Acadia', that is tied to our first home, New England. Acadia, the spectacular national park on the Maine coast, epitomizes the limitless power and beauty of nature. I consider Acadia to be an inspiration, an ideal for the company."
    The company also announced the completion of a follow-on equity investment of $3 million by the consortium of Danish investors that participated in the initial February 1997 financing. The consortium includes Dansk Kapitalanlaeg Aktieselskab , a venture capital firm; BankInvest , a mutual fund; and institutional investors LD Pension Fund and Municipal Employee Life Insurance Co.
Says Brann: "The new influx of funding will allow us to achieve our goals of growth and technology advancement more quickly. It also shows that our investors are confident in the progress we’ve made in the very short time since our initial funding."
    Acadia Pharmaceuticals is a biotech engaged in development and use of high-throughput solutions for drug discovery. Founded in 1993 by Dr. Brann, the company has developed a platform of proprietary breakthrough technologies for functional characterization of genes encoding potential drug targets, including high-throughput Receptor Selection and Amplification Technology.
The company is pursuing drug discovery alliances with major pharmaceutical firms, as well as biotechnology companies with expertise in genomics and combinatorial chemistry. Acadia also continues to develop and expand its technology platform, and is pursuing in-house discovery efforts on novel targets.

***

    Scripps Bank reports it’s earned a 5-Star Superior Bank Award . The analysis was conducted by Bauer Financial Reports Inc., the nation's leading independent banking analyst, headquartered in Coral Gables, Florida. This rating places Scripps Bank in the highest tier of banking. The award was based on an analysis of financial data filed by the Scripps with federal regulators, supplemented by historical data, for the quarter ending March 31, 1997. Headquartered in La Jolla, Scripps Bank has regional offices in El Cajon, Escondido, Kearny Mesa, Encinitas and Point Loma, a downtown San Diego office, and offers Trust, Corporate Banking, Small Business Administration, International, and Residential Lending services.
    Scripps Bank was recently named the "No. 1 Small Business Friendly Bank in California" by the Office of Advocacy. For the fifth consecutive year and the eighth time, Scripps Bank has been recognized as a Premier Performing Bank by the Findley Reports.

***

    NextLevel Systems Inc., formerly General Instrument, says its Satellite Data Networks Group, the world's leading supplier of high quality, end-to-end digital transmission systems, has inked a deal with Mexico City-based Instituto Latinoamericano de la Communicacion Educativa for a DigiCipher II digital uplink encoding system and 6,000 receivers for Mexico's Red Edusat , the world's largest public education satellite network.
    The order for a 16-channel DigiCipher II uplink encoding system and the Series 400 integrated receiver-decoders will greatly enhance the capacity of the present system which currently transmits six channels of educational programming using the DigiCipher I system, to more than 16,000 junior high school sites throughout Mexico.

***

    American Golf Corp. says that it will manage the newly designed Riverwalk Golf Club in Mission Valley. Opening in early 1998, the daily fee course is located on the site of the former Stardust Country Club.
    Developed 50 years ago, the original stardust course hosted the San Diego Open, started by Bing Crosby. Through the years, the course has entertained such golf legends as Sam Snead, Billy Casper, Raymond Floyd, Gary Player and Tom Watson. More recently, Earl Woods took his promising young son Tiger there to play the 9-hole executive course.
    "The location of the property is phenomenal," says Tom Frost, regional vice president for American Golf. "It’s in the heart of San Diego within minutes from the beach, Sea World and the zoo. Its proximity to Hotel Circle makes it a natural for San Diego conventions and tourists."
Now this outstanding location has a golf course to match due the efforts of renowned father and son architects Ted Robinson and Ted Robinson Jr.
    The flat course is gone. Over 500,000 cubic yards of soil were used to create numerous elevation changes and undulating fairways. Gone too is the old practice range. In its place is a seven million gallon lake which serves as both a reservoir and way station for migratory birds — as well as a major challenge for players. In fact, 13 of Riverwalk's 27 holes play over water.
    "The course has been brought up to meet all the modern standards for a first class resort facility," explains Ted Robinson Jr. "At the same time, we were able to retain a lot of the existing trees, so even though it’s brand new, it will feel like you’re playing a course that has a traditional feel."
Although Riverwalk is located in the middle of the city, the Robinsons have preserved its quiet, pristine atmosphere. Golfers can choose between three interchangeable 9-hole courses.
    The northernmost "Valley Nine" features mature trees and lots of elevation gains; the scenic "Lake Nine" is characterized by the imposing lake and a tranquil waterfall; and the "River Nine" adjoins and abuts the San Diego River, which players cross on four holes.
    The contemporary 5,000 square foot clubhouse sits on a hill overlooking the River and Lake Nine. Next door, golfers can enjoy the conveniently located 2-sided practice range.
    Santa Monica-based American Golf Corp. is the world's leading golf operations company. Founded by David G. Price in 1968, the company employs over 14,000 people.

***

Aug. 18, 1997


    The University of San Diego’s Index of Leading Economic Indicators for San Diego County rose O.3 percent in June. Leading the advance was a solid increase in building permits. Initial claims for unemployment insurance, tourism, and help wanted advertising had smaller gains for the month. No components decreased in June, although local stock prices and the outlook for the national economy were unchanged.
    June's gain was the 27th consecutive monthly increase in the Index. The rise was similar to those of recent months: a moderate overall gain fueled by unspectacular increases in individual components, with few apparent weaknesses. This combination signals continued growth in the local economy, although the pace of the expansion may be more modest than was indicated earlier in the year, when the Index was rising sharply.
    An analysis of the individual components finds that the labor market continues to be healthy, with initial claims for unemployment insurance still dropping and help wanted advertising still increasing. Tourism continues to make a solid contribution, and has now advanced for 20 months in a row. Local stock prices reversed their brief two month decline, while the outlook for the national economy remains mixed.
The most significant of the June figures was the strong increase in building permits. A total of 1,157 residential units were authorized by building permits in June. This was the largest number of units authorized since March 1991, and follows good numbers for April and May. Strength in both single- and multi-family units contributed to the robust performance. The 283 multi-family units authorized in June puts the total multi-family level for the first six months of 1997 at 944, which is just shy of the 1,052 multi-family units authorized for all of 1996. Overall, residential units authorized in 1997 are up over 40% compared to the similar period in 1996. They are on a pace to hit 9,600 units authorized for the entire year, which would be the largest number since 1990.
    June's increase puts the Index of Leading Economic Indicators for San Diego County at 135.0, up from May's reading of 134.6. There was no revision of the previously reported change of +0.3 percent for the Index for the month.

***

    Fenton-Western Properties Inc., a division of the H.G. Fenton Cos., has completed $85 million in acquisitions and sales to increase its total amount of commercial and industrial space from 1.2 million to 1.7 million square feet. "This realignment of our portfolio is part of our strategic plan to convert entitled property into income producing industrial, warehouse and apartment buildings and land," says Mike Neal, vice president of real estate portfolio management and development. "These transactions better position our company to capitalize on San Diego’s growing commercial and industrial real estate market as we move toward the 21st Century."
    Fenton acquired 12 buildings located on Carrol Way, Carroll Road, Distribution Avenue and Production Avenue, all in the Miramar area. The purchase adds a total of 600,000 square feet of space to Fenton's portfolio, 500,000 square feet of warehouse space and 100,000 square feet of industrial. Additionally, the seven-building, 110,000 square foot Kearny Villa Commerce Center was purchased, with 85,000 square feet of multi-tenant industrial and 25,00 square feet of office space located at Kearny Villa Road and Chesapeake Drive in Kearny Mesa. Chris Loughridge and Randy LaChance from Voit Commercial Brokerage were the brokers for the Commerce Center, and Loughridge was the broker for the Miramar properties.
    Included in the transaction was the sale of three Fenton properties to provide resources to buy the warehouse and industrial space. A 20 acre parcel of land in Mission Valley was sold to Texas-based Jefferson Properties Inc., the second largest apartment builder in the nation. JPI plans to break ground on the site later this year and construct 600 luxury apartment units. The property is adjacent to Qualcomm Stadium. The project is the first phase of the 240 acre Mission City Master Plan development. George Carlson of John Burnham and Co. was the broker.
Home Depot purchased two Fenton office buildings on six acre and an additional five acres from the Rose Family Trust for a total of 11 acres at Fairmont Avenue and Mission Gorge. The buildings will be leveled and a Home Depot built. The brokers were Jim Flocke and John Hickman of Flocke and Avoyer.
    The 145,000 square foot Friars Mission Center, located across from Hazard Center on Friars Road in Mission Valley, was sold to Pacific Retail Trust. Fenton began construction on the center in 1988 and it opened in 1989. Tenants include Ralph's, Longs Drug and Blockbuster Video.

***

    Vortex Data Systems, a local Novell Platinum Reseller and authorized NetWare Education Center, is hosting Aug. 20 the San Diego stop of the Rock the Net Tour. Novell's "Big Rig," a custom red 18-wheel semi, configured as a rolling state-of-the-art classroom, will be the site of a specialized training program for some of San Diego’s top networking engineers. These engineers will convene at Vortex Data Systems located at 7480 Mission Valley Road to get a unique educational experience in a unique setting.
    The Novell Rock the Net Tour has been on a national crusade to bring the latest computer technology information right to each city's front door. This summer roll out started in June and has already made stops in Miami; Atlanta; Washington, D.C.; Philadelphia; New York; and Boston, to mention a few.
After San Diego’s session on Wednesday, the truck will head north to San Jose, where they will wrap up their tour on Aug. 28. Additional information on "Big Red" and the Rock the Net Tour can be obtained on the World Wide Web at http://www.novell.com/programs/ncs/been.html.
    Novell Consultants are charged with teaching workshops on Novell's key products such as IntranetWare, GroupWise, ManageWise and Novell's Directory Services. Novell will also demonstrate new technologies such as how to ease desktop management through NDS, how to integrate Windows NT into IntranetWare Networks and how to implement Novell's Border Manager for organizations connecting to the Internet.
"We are grateful to Vortex to letting us use their space and are happy we can provide their students as well with the opportunity to experience such a technological advanced mobile data center on wheels, something you don’t normally see," says Melinda Mariano, Novell's account executive for San Diego sales.
"This has been an incredibly successful and fun event for Novell, and our 'Novell Ninjas' (instructors) have done an excellent job of providing stellar classroom training," she concluded.
    "Vortex is delighted to be able to assist Novell in their educational events. We have been a Novell Platinum Reseller for eight years and are considered throughout the industry as the leader in education and training for Novell products and networking technology," says Paul Christiansen, chief executive officer of Vortex.

***

    Connect, The UCSD Program in Technology and Entrepreneurship, is accepting nominations for its 10th annual Most Innovative New Products Awards. The awards, recognizing innovation in the areas of entertainment and leisure, general business, high tech electronics, Internet, life sciences, software and telecommunications, will be presented at a Dec. 16 luncheon. Nominated products must have been introduced between Sept. 15, 1996 and Sept. 15, 1997, says Connect program director Barbara Bry. Criteria include the amount of innovation, whether the product represents a substantial advance in technology, and the product's potential for success.
    Forty companies, including a "who's who" of San Diego technology companies, have won the award since its inception in 1988. 1996 winners included Gryphon Software Corp., SCS Corp., Andataco, Aptex Software, and Mycogen, which was also one of the award winners in 1988, the year the program was introduced. Among past recipients are Qualcomm, SAIC, Gensia, Proxima Corp., and SDG&E.
    Wall Street Journal managing editor Paul Steiger will be the featured speaker at the Dec. 16 luncheon, to be held at the Hyatt Regency La Jolla.
    The deadline for entries is Sept. 19. For entry forms or more information, contact Connect at (619) 534-6114 or email thincapie@ucsd.edu.

***

August 15, 1997

    The 1997 recipient of the San Diego Rotary Club's "Mr. San Diego" award is Dr. Homer D. Peabody, a 44-year force in San Diego health care, longtime contributor to charitable and civic organizations and the driving force behind the George E. Barnes Family Junior Tennis Center. Peabody receives his award from Gov. Pete Wilson during an Aug. 21 luncheon at the U.S. Grant Hotel. He is the 45th recipient of the award.

***

    San Diego County Ford dealers and Ford Motor Co. are contributing $250,000 in scholarships to local high school students through the Salute to Education program. The announcement was delivered yesterday during Ford Division's 1998 model introduction show at the San Diego Convention Center.

***

    Horton Fourth Avenue, the urban redevelopment project that covered the gap-toothed grin on the Fourth Avenue side of the Horton Plaza parking structure, has earned a Citation for Design from the San Diego chapter of the American Institute of Architects. The honor went to the architect, Carrier Johnson Wu.

***

    June was another outstanding month for San Diego’s tourism industry. Visitors spent $352 million in the month, a 6.4 percent increase from a year earlier. Hotel occupancy hit 72.9 percent, up 2.8 percent from a year earlier, while the average room rate shot up 7 percent to $84.78. The only downside was convention and trade show business, with only three events being logged by the San Diego Convention Center, down 62.5 percent from June 1996.

***

    With Joel Keller leaving the San Diego Chamber Orchestra as of Aug. 18, the music organization is on the prowl for a replacement. Keller, who held the job since 1992, departs to take the position of finance manager for Peregrine Semiconductor Corp., the hot developer of satellite and radio frequency circuits.

***

    Assenti's Pasta has opened its doors at a new location on India Street at hawthorn. The Little Italy restaurant is just two blocks north of the shop were the family-owned business has produced fresh pasta for the past 16 years.

***

August 14, 1997


    Mail Boxes Etc., which is already deep into its pending merger with U.S. Office Products, is warning that an extended UPS strike could harm future earnings. On Aug. 4, the Teamsters union went on strike against UPS, essentially shutting down UPS ground service, which yields a substantial portion of revenues for the 3,400 MBE centers operating worldwide. In the event that alternative carriers do not increase their capacity to handle the shipments that would have been sent by UPS, MBE says a prolonged strike could have a negative impact on results of operations.
    San Diego- based MBE made the announcement when reporting first quarter revenues up 6 percent to a record high $15.7 million. Earnings and earnings per share also would have reached record highs for first quarter except for the recording of $2.5 million in expenses during the quarter related to a merger with U.S. Office Products. Adjusting for the merger-related expenses, earnings would have increased by 26 percent to $2.6 million and earnings per share would have increased by 22 percent to 22 cents. As a result of these expenses, earnings decreased by 47 percent to $1.1 million, and earnings per share decreased by 50 percent to 9 cents.
    Royalties from MBE centers located in the United States were up 14 percent compared with the prior year’s first quarter, and same store sales increased by approximately 10 percent compared with the same period. Individual domestic franchise sales totaled 45 centers for the first quarter of FY98, compared with 62 during the same quarter last year. International franchise sales totaled 38 centers compared with 25 during the same quarter last year.
MBE announced May 22 that it was being acquired by U.S. Office Products. The merger has passed antitrust review by the federal government and is now in the process of Securities and Exchange Commission review, prior to being presented to MBE's shareholders for their approval.

***

    Pacific Gulf Properties Inc. has acquired an industrial distribution/manufacturing facility in North County from The Vons Cos. Situated on 27.5 acres, the property consists of one building to be rehabilitated containing approximately 375,000 square feet, and an additional five acres of land on which Pacific Gulf plans to develop about 88,000 square feet of warehouse space to complement the existing structure. The purchase price was $16.75 million, which included land and buildings. The existing building includes 60 dock high loading positions, 25 foot ceiling clear height, as well as 16,000 square feet of mezzanine offices. When rehabilitation is completed, the building will be divisible down to 60,000 square foot units; the building is fully sprinklered and also offers extra electrical power, allowing for manufacturing use as well as warehousing.
    "We are very pleased to add this facility to our San Diego area portfolio, as it helps to round out our business strategy," says Glenn L. Carpenter, CEO of Pacific Gulf. With the addition of this property, Pacific Gulf's industrial portfolio in the San Diego County market has grown to more than 1.3 million. Pacific Gulf's total industrial portfolio consists of 33 properties containing over 8 million square feet.
    Pacific Gulf Properties Inc., a self-administered and self-managed equity real estate investment trust, owns, operates, leases, acquires and rehabilitates industrial and multifamily properties located in California and the Pacific Northwest.

***

    GMAC Commercial Mortgage has provided more than $25 million in acquisition financing for five San Diego industrial parks for clients of its Phoenix office. The borrowing L.L.C. has a GE Capital Corp. subsidiary, and M.F. Diessner & Co. of Arizona as its members. They received $19.8 million for the purchase of four of the five properties. M.F. Diessner and Company received the $6 million balance of the funding for a property in Poway. Loan closing occurred within 21 days of application.
    The five properties have 17 buildings with more than 600,000 square-feet. The transaction was arranged by GMACCM Phoenix vice president Thomas Vivaldelli and sourced by Keystone Capital, a Phoenix-area investment banker.

***

    The San Diego chapter of the Building Owners and Managers Association announced the winners of the 1997-98 Office Building of the Year Awards in ceremonies Tuesday at the San Diego Princess Resort. The ninth annual awards, which honor excellence in the management and operation of commercial office buildings, were presented to five San Diego buildings which were judged to be the best in their respective categories.
    In the category of "Under 100,000 Square Feet," the winner was a first time entrant, the Fourth Avenue Corporate Center at 1551 Fourth Avenue in Downtown San Diego. Built in 1982, the eight-story, 91,143-square-foot building is owned by the Broe Companies and managed by Patty Carroll of Broe Real Estate Services. The building was designed by Ralph Bradshaw/Richard Bundy & Associates with exterior aluminum panels with recessed windows on the upper floor and large retail variety glass windows on the first floor. An owner-operated Executive Suite program is located on the building's top floor. All of the tenants enjoy a variety of amenities, including secured parking, computerized security system, a conference room, lunch area, and an athletic facility featuring a racquetball court, weight training equipment, aerobics room, showers, lockers and saunas.
    Wells Fargo Plaza at 401 B Street was named the winner in the "250,000 to 500,000 Square Feet" category. The 24-story, 465,000-square-foot building, designed by Welton Beckett Associates, has been a distinctive part of San Diego’s skyline since its opening in 1984. Recognized by its carmine red granite exterior, the building features subterranean parking, a fully integrated fire and life safety system and 24-hour security with card key access. Tenants enjoy two third-floor conference rooms, a gourmet deli with adjacent outdoor patio, express mail room, and car detailing, dry cleaning and shoe repair services. Wells fargo Plaza is owned by Equitable Life Assurance Society of the United States and managed and leased by a team led by Joseph Murphy and David Russell of Compass Management and Leasing Inc.
    One America Plaza, owned by Bright Properties West Inc. and managed by James M. Tostado of Morlin Management Corp., won the Toby award in the category of "Over 500,000 Square Feet." The judges said the 570,000-square-foot office building is "impressive and a great facility." Designed by two firms, Murphy/Jahn Inc. and Krommenhoek/McKeown & Associates, the 34-story tower also features a San Diego Trolley station, museum building, restaurants, retail shops and extensive outdoor plazas.
    525 B Street, the winner in the Rehabilitated/Modernized" category, is owned by Southwest Value Partners and managed by a team led by David A. Pino, general manager of Compass Management and Leasing, Inc. The 22-story, 427,000-square foot building occupies an entire city block along the B Street corridor in downtown San Diego. The office tower was originally designed by Langdon & Wilson and opened in 1969 as the Union Bank Building. A $9 million renovation project was completed in 1992 under the direction of the RTKL Architects. The renovation included the installation of granite trim and fiberglass reinforced concrete panels at the bottom two floors. Additionally, the exterior and parking structure was repainted and a "Pilkington Glass" system was installed at the exterior of the main lobby, which has also been upgraded with new wall and floor coverings and contemporary art.
    The Carmel Valley Medical Office Building, owned by Scripps Memorial Hospital, took top honors in the "Medical Office Building" category. Located at 12395 El Camino Real, the three-story, 61,994-square-foot project was designed by Brown, Gimber, Rodriguez, Park and is one of several buildings managed by Barbara Lorentz, corporate director, and Pam Garcia, building manager. The building has been designed for physician and dental offices and includes an on-site pharmacy, laboratory, and radiology services.
    Judges included Bennet Greenwald, president of the Greenwald Co.; Bill Waite, Chamber Building manager, retired; Chuck Walden, facilities manager, city of Carlsbad; Jaz Podgursky, former facility engineer, Hyatt Hotels; and Gordon Sakamoto, facility manager for SAIC at Campus Point.
    BOMA/San Diego Toby winners will now compete in BOMA International's Pacific Southwest Regional competition which will be held next month in Anchorage, Alaska. Regional winners then compete for international awards to be presented at BOMA International's annual convention in Philadelphia in June, 1998.

***

August 13, 1997

    Pacific Bay Homes has begun construction on the first phase of Rolling Hills Ranch , a 1,200-acre master planned community located near the base of the San Miguel and Jamul mountains in Chula Vista. "We are currently working the first of three development phases," says Liz Jackson , senior vice president and San Diego division manager for Pacific Bay Homes. "This premier phase will include approximately 400 single-family detached homes within four distinct neighborhoods."
    Homes will range in size between 1,300 and 2,950 square foot. Model home construction should start this fall, with a grand opening in spring. At build-out, Rolling Hills Ranch will include 2,600 homes within 13 neighborhoods.

***

    The EastLake Co. says it recorded its best sales figures this decade in fiscal 1996-97, selling 401 homes, a 30 percent increase from the previous year. What’s going on? "We think EastLake's success has a lot to do with a high level of buyer confidence," says Paul Nieto, company CEO. "We offer some of the best homes, school and amenities in the country. Of course, a strong local economy helps too."
The booming market has been lucrative for builders as well. Bill Cardon, president of Kaufman & Broad San Diego division, can build his South Bay homes fast enough to meet rising demand. "The market has improved substantially," Cardon says. "I think South Bay prospers because its homes are affordable, they're close to Downtown and there's some very nice master-planned communities."

***

    Attorneys with the Downtown law firm of Hinchy, Witte, Wood, Anderson & Hodges are the latest legal eagles to hit the radio airwaves. The firm's commentaries are now appearing weekdays, 6-10 a.m., on KSDO AM 1130's Money in the Morning hosted by George Chamberlin.
Speaking of radio, Ian Campbell, general manager of San Diego Opera, returns to the airwaves Sept. 7 as the San Diego Opera Radio Program is broadcast on X-BACH 540 AM Sundays at 6 p.m.

***

    Demand for San Diego County industrial and research and development space is at its highest level in more than six years, reveals a study by John Burnham & Co. *Oncor International. The research shows 1.6 million square feet of year-to-date net absorption and more than 2.8 million square feet of new construction.
    But, Burnham cautions, a severe shortage of land could soon put the brakes on this economic expansion.
    "With few space options remaining in the 20,000-square-foot-plus range, build-to-suits have become the only option for larger users," says Jerry Sarazon, a vice president in Burnham's industrial division. "Unfortunately, the more popular, central county areas are running out of land for development."

***

August 12, 1997


    With Santa Clara County now the nation's hottest housing market, setting the pace with double-digit home price appreciation, the median price of a single-family home in California climbed 3.2 percent to $184,910 during the second quarter this year, the California Association of Realtors and Transamerica Intellitech report today. The localized statistics were generated from Transamerica's MetroScan service.
    The median San Diego home price was $183,380 in the second quarter of 1997, compared with $173,560 a year earlier.
In addition, state-wide home resale activity increased 3 percent from the second quarter 1996 as an average of 532,670 existing single-family detached homes closed escrow at a seasonally-adjusted annualized rate. This second-quarter sales level is an eight-year high.
"Price appreciation continues to be one of the most salient features of the California housing market," says C.A.R. President Bob Kulick. "Besides Santa Clara County, we are encouraged to see that home price appreciation has begun to move south to Santa Barbara County, Orange County, San Diego County, and Los Angeles County."
    C.A.R.'s Unsold Inventory Index of 6.9 months during the second quarter was the lowest since it stood at 6.8 months after the third quarter 1989. The index was 7.8 months in the second quarter in 1996 and 9 months in the first quarter this year. The index indicates the number of months it would take to deplete the supply of homes on the market at the current rate of sales.
    "With home resale activity now reaching highs not seen since 1989, it comes as no surprise that C.A.R.'s Unsold Inventory Index should also approach 1989 levels," says Leslie Appleton-Young, C.A.R.'s vice president of research and economics. "This can only mean further home price appreciation in the immediate future. I think it’s safe to say that the California housing market recovery has begun."
Among highlights of C.A.R.'s second-quarter resale housing figures: Closed escrow sales in California amounted to 532,670 representing the highest sales level since 601,730 homes were sold in the first quarter 1989. The annualized figure represents what would be the total number of homes sold during 1997 if sales occurred at the second quarter pace throughout the year. It is adjusted to account for seasonal factors which typically influence home sales.
    According to statistics generated by C.A.R. and Transamerica Intellitech, median prices rose annually in 166 of 320 cities and communities.
    Statewide, homes sales rose annually in 163 of 320 cities during the same time period.
    Thirty-year mortgage interest rates averaged 7.91 percent during the second quarter, compared with 7.79 percent the previous quarter and 8.11 percent in the second quarter of 1996, according to the Federal Home Loan Mortgage, Corp. Adjustable mortgage interest rates averaged 5.79 percent during the second quarter, compared with 5.56 percent in the first quarter and 5.81 percent in the second quarter 1996.
During June 1997, 38 percent of California households earned the minimum income needed to quality to purchase a detached home. Assuming a 20 percent down payment was made on a median-priced home of $189,170, a household needed a minimum annual income of $52,490 to qualify for a home loan. The monthly mortgage payment on that home — including property taxes and insurance — would be $1,310.
    C.A.R.'s median price and sales data for detached homes are based on reports from 90 associations of Realtors throughout the state. Median condominium price and sales data are based on a survey of 64 Associations. The median price for both detached homes and condominiums is based on closed escrow sales.
    Median prices and localized statistics are derived from new, existing, condominium and single-family home sales. Data is provided to C.A.R. by Sacramento-based Transamerica Intellitech, a leading provider of information and software solutions for real estate industry professionals throughout the U.S.

***

    Cubic Corp. reports today increased profit for the nine months of fiscal 1997 compared with one year ago. Profit for the nine months ending June 30, was $8.8 million, or 98 cents per share, compared with $7.78 million, or 87 cents per share, for the same period a year ago. Sales for the current nine-month period were $290 million vs. $303 million. The short-term decline is attributable to the sale of Cubic's toll-road product line in May of last year.
Profit for the quarter ending June 30 was $3.25 million, or 36 cents per share, compared with $3.13 million, or 35 cents per share, in the third quarter last year. Sales were $109.8 million, compared with $98.6 million.
    "The increase in earnings comes despite investing in development of new products, including new technology to allow Internet users to send full motion videos with sound as part of their e-mail," says Cubic CEO Walter J. Zable. "We have exciting new advanced products under development and are in negotiations for large new contracts in our defense and fare-collection businesses. We expect the new products and contracts to generate solid growth in 1998 and beyond."
    The company also announced a semiannual dividend of 19 cents per share, payable Sept. 9 to shareholders of record at the close of business Aug. 18, 1997.
    Cubic Automatic Revenue Collection Group designs and manufactures automatic fare-collection systems for public mass transit, including rail and buses throughout the world. The Cubic Defense Group produces instrumented air and ground combat training systems for both the U.S. and allied military forces. In addition, it produces avionics, data links and communications systems and provides support for military simulations and battle command training, and provides product logistical support.

***

    Investors with a long-term view should take advantage of the "unusual opportunity" to accumulate currently depressed biotechnology stocks, a leading industry figure told investors Aug. 9 at the inaugural San Diego Biotechnology Forum.
    "I think biotech is the most interesting technology around," Jim McCamant,editor of the Medical Technology Stocks Letter, told attendees. "It’s where electronics was 30 years ago and like electronics has, biotechnology is going to have a much larger impact on your lives than you can imagine over the next 20 years. In the process, it’s going to make investors who realize that a lot of money.
    "In fact, most people don’t know it," McCamant added, "but Bill Gates is a very active investor in biotech. He owns 15 percent of ICOS Corp. stock. Gates agrees with me that the next great technology revolution is in biotech."
McCamant's remarks capped the morning-long Forum geared for individual investors. It was produced by Sacramento-based Informed Investors Inc. and co-sponsored by Investor's Business Daily. Preceding McCamant, attendees heard analyst-style presentations, plus Q&A, from Daniel Kisner, M.D., president of Isis Pharmaceuticals; Steve Engle, chairman/CEO of La Jolla Pharmaceutical Co.; Arthur Benvenuto, chairman/CEO, Advanced Tissue Sciences; and Larry Stambaugh, chairman/CEO, of Maxim Pharmaceuticals.
McCamant says the biotech industry started with gene splicing breakthroughs in the '70s. "The industry as an investment started in 1980 when Genentech became public, so it’s a young industry." Biotech stock prices have endured major cycles with the most recent peak in early 1992, McCamant says. Since then, biotech stock prices have failed to take into account extraordinary scientific breakthroughs at many companies.
    Among the numerous scientific breakthroughs discussed came from Advanced Tissue Sciences' CEO Benvenuto. "Our starting material for (growing) skin is newborns... circumcision from newborns, and from one, we can actually grow the equivalent of six football fields worth of material." He added that skin and cartilage can be grown in two-to-three weeks.
    "Investors may get excited with the latest scientific breakthrough, but it takes a long time before they become commercial reality... typically at least 10 years," McCamant says. "We’re now at a stage when things are beginning to move ahead more rapidly on a commercial side and we are also in a period where investors are less aware rather than more aware."
    "The inherent inefficiencies in biotech are also part of the opportunity," McCamant says. "Students of investing understand that you should be looking for inefficient markets, when stocks are priced different than what their value is. There are probably a few biotechs priced more than what their value is, but there are many, many more that are priced less than what their value is. "Isis, for example, is still below the high made during that time period (1992) despite the fact that it has made huge technical progress," McCamant said. "People then were buying it for its potential. Isis now has a whole series of products, some of which are nearing approval so the real value is four times, five times, maybe as much as 10 times (what it was in 1992) because the risk is substantially reduced because they've showed this technology actually works.
    "In late 1991 according to one analyst, there were 23 products out of the biotech industry that were in pivotal trials, where if trials were successful, it could lead to a marketing application" McCamant continued. "Now there are between 200 and 250, almost 10 times as many products in late-stage pivotal trials. Sounds to me like we are going to have more products approved... and we are going to have more approved each year.
    "We have a situation now where biotech stocks are so undervalued that the next move is going to be at least as good as the one in 1991 and 1992... and that was a year in which the biotech stocks were the best performing group," McCamant says.
    "We’ll see the phenomenon we’ve seen in the last 18 months with Agouron where the stock has moved very substantially as they start to produce sales...first the anticipation of that, and second, the actual sales which have exceeded analysts estimates."
    McCamant outlined the importance of corporate partnerships, the FDA, research & development, quality of management and capital strength in evaluating biotech stocks.
"Management is key, science is key," McCamant said. "Chiron has the best science among the larger companies. In earlier years Genentech clearly had the best science. Amgen made its success by focusing its science on a relatively narrow number of products and doing a superb job of bringing those products to commercial development. "I believe Chiron will end up leading the next big move in the biotech stocks," McCamant says. "It’s the only one that can easily double without worrying about evaluation. The company spends a lot money in R&D and there is a lot of under-the-surface value that will begin to surface in the next 12 months."
    McCamant offered rules of thumb to follow when investing in biotechs. One ingredient is patience because even the best companies falter.
    "The classic example is Amgen which came public at $18. Roughly two years later it broke $4," McCamant says. "You don’t have to buy stocks at the bottom to get rich in this sector. That's why I like to talking to individual investors about biotech because you can afford to take a long-term approach with your own money. It is still a tough time for biotech but it is a time for opportunity for those of us who believe we know what we’re doing and have faith in the industry."

***

    Cox @Home is coming to North County for the first time.
    On Saturday, Aug. 16, the citizens of Escondido are invited to a hands-on demonstration of the Cox @Home Network, the high-speed Internet service now available to Cox customers in central san Diego, South Bay and Poway. The public is invited to test-drive Cox @Home from 11 a.m. to 3 p.m. at 340 N. Escondido Blvd. at the California Center for the Arts Conference Center. In addition to live, interactive demonstrations on 11 computer stations, the day's activities will include refreshments and giveaways.
    Cox customers with full basic service will pay $39.95 per month for Cox @Home; other subscribers will pay $49.95 per month. There is also a one-time charge to set up a customer's home computer and install a two-way cable line. The regular price will be $99.95 for customers with their own network interface card, and $149.95 for customers without a network interface card.
    The price includes a training session to help customers navigate the Internet.

***

August 11, 1997


    First Virtual Holdings Inc., a leader in advanced communications and marketing systems for Internet commerce, and Firefly, the leading provider of customer management and advanced personalization technologies, have signed co-marketing agreement designed to offer individuals the ability to conduct secure transactions and receive highly personalized services online.
    As part of the agreement, Firefly will offer users the ability to obtain their VirtualPin as part of the registration process for the Firefly Passport. The Firefly Passport is an individual's profile that is controlled by each person and can be utilized at any Firefly-enabled site to receive personalized services, while protecting their privacy. First Virtual customers will in turn be able to register for a Firefly Passport when signing up for a VirtualPin, an alias that allows them to buy products or pay for services on-line without ever revealing their credit card number over the Internet.
    First Virtual Holdings is the first company to take advantage of a new feature of the Firefly Passport called MyWallet, which is designed to offer Firefly Passport holders easy access to solutions for electronic commerce. Firefly Passport holders can use MyWallet to store their VirtualPIN for easy reference and link to a directory of participating merchants on First Virtual's site.
A recent study from TRUSTe and the Boston Consulting Group concluded that widespread privacy assurance could increase annual consumer electronic commerce on the Net by as much as $6 billion by 2000.
    "We have always been focused on developing a platform and applications that allow businesses to manage customer relationships, offer a highly personalized service to each individual and build strong communities around their brand and products," says Saul Klein, Firefly's vice president of marketing. "Working with First Virtual further extends our strategy to complete the loop in the buying process by helping people easily find and purchase the products they want."
    "Together, the MyWallet feature and the VirtualPIN provide Firefly Passport holders with personal privacy and security for Web navigation and electronic commerce," says Lee Stein, CEO of First Virtual Holdings Incorporated. "We see this integration as an important step toward significantly extending First Virtual's market reach."

***

    Ramco Systems Corp., a global supplier of enterprise resource planning systems, is expanding its presence in the U.S. with two new sales offices in San Diego and Chicago. Ramco's U.S. operations are based in Fremont. Ramco is an integrated, client/server suite of enterprise resource planning business applications designed for Windows NT and Microsoft SQl server.
    "These new offices allow us to better meet the needs of our existing customers, as well as position us for new business," says Ramco President Ram Raja. "The mid-tier market of corporations with sites in the $50 million to $500 million range is the fast growth area for ERP solutions. Our critical mass of development and support talent, financial backing and product strength position us to provide full-service support to the marketplace."
    The San Diego office will be staffed by Nathan Limjoco and is located at 6640 Lusk Blvd., Suite A 204-B, San Diego, CA 92121.

***

    Nokia, a leader in digital technologies, has introduced the Nokia 2180, the first CDMA digital design phone to offer consumers a choice. The Nokia 2180 is a dual-mode, 800 MHz phone based on the design of the award-winning and internationally popular Nokia 2100 series, the single largest selling digital platform in the world. The CDMA phone will be available this month through carriers, dealers and selected retailers.
    The Nokia 2180 incorporates all of Nokia's award-winning features, including the company’s pioneering, big-screen, 30-character, super-twist LCD display with permanent signal and battery-strength indicators, and separate voice mail and text-message-waiting indicators. Nine "one-touch" dialing keys provide instant access to emergency services, voice mail and frequently called numbers. All features are accessible via a soft-key interface.
    "Nokia's award-winning user interface and large display make the phone and digital services easy to use," says Rich Geruson, senior vice president, USA at Nokia Mobile Phones Inc. "And the Nokia 2180 is the only CDMA phone on the market with a full range of car, power and desktop accessories."
In its introductory configuration, the Nokia 2180 provides up to 210 minutes of talk time and up to 76 hours of standby time. An optional vibrating NiMH (nickel metal hydride) battery pack is also available.
The Nokia 2180 also marks a significant milestone for the industry by incorporating Nokia's own CDMA chip design into the phone, for the first time providing customers with a choice in selecting CDMA digital technology.
    Nokia's commitment to CDMA began in 1991 with the establishment of a dedicated CDMA research center in San Diego. Since then, Nokia has been an active member of the CDMA Development Group and has played a key role in standards development by solving industry problems and providing essential algorithms for CDMA's enhanced variable rate codec. Globally, Nokia is an active participant in many of the development and standardization groups for data and future CDMA standards such as Wideband CDMA (W-CDMA).
    Headquartered in Finland, Nokia is a leader in digital technologies including mobile phones, cellular and fixed telecommunications networks, wireless data solutions and multimedia terminals. With sales in approximately 130 countries, net sales totaled $8.5 billion in 1996. Nokia employs more than 34,000 people in 45 countries.

***

    Sunstone Hotel Investors Inc., a real estate investment trust, has purchased the Holiday Inn Mission Valley Stadium and the Crystal Suites in Anaheim for $17.8 million in cash.
"The acquisition of the Holiday Inn Mission Valley Stadium hotel gives us an even stronger presence in the San Diego market with a total of three hotels," says Robert Alter, Sunstone president.
    Sunstone purchased the leasehold interest in the full-service 175-room interior-corridor Holiday Inn Mission Valley Stadium for about $9.1 million in cash, or $52,000 per room, which the company estimates to be about 80 percent of replacement cost, from Shivani, L.L.C. The property is a single V-shaped building which includes a restaurant and lounge, swimming pool and spa, several small meeting rooms, an exercise room, and both surface and under-structure parking. Reported occupancy and average daily room rate for the hotel for the 12 months ended May 31 were 76.5 percent and $60.48 respectively. The hotel is located adjacent to Interstate 15, in the area known as Mission Valley/Kearny Mesa, just north of Qualcomm Stadium, adjacent to the new multi-million dollar San Diego Charger Training Camp.

***

August 8, 1997

    Cox Communications finalizes this morning its partnership with San Diego State University and SDSU's Associated Students for sponsorship of new Aztec Bowl Arena. The event, at 10 a.m., takes place at Aztec Bowl Arena on the SDSU campus.
Among those speaking will be Bill Geppert, general manager of Cox Communications; Stan Gafner, director of Broadband Services Cox Communications; Dan Novak, station manager for Channel 4 San Diego; Stephen Weber, president of SDSU; Carlos Razo, president of SDSU Associated Students; and John Kolek, facilities manager Channel 4.

***

    Dura Pharmaceuticals Inc. is a hot ticket in the investment community. On the heels of a recently-announced offering of convertible subordinated notes, Dura says that its underwriters have exercised in full their over-allotment option and have purchased an additional $37.5 million of notes. Exercise of the over-allotment brought the total principal amount of notes purchased to $287.5 million
Merrill Lynch & Co. and Goldman, Sachs acted as underwriters. A copy of the final prospectus relating to these securities may be obtained from Merrill Lynch & Co., Prospectus Dept., 250 Vesey Street, World Financial Center, North Tower, New York, New York, 10281 and from Goldman, Sachs & Co., 85 Broad Street, New York, New York, 10004.
    Dura Pharmaceuticals is a San Diego based developer and marketer of prescription pharmaceutical products for the treatment of allergies, asthma and related respiratory conditions. Dura's mission is to be the leading niche pharmaceutical company in the high-growth U.S. respiratory market. The company is pursuing that goal through two major strategies: (1) acquiring late-stage or approved prescription pharmaceuticals and/or businesses targeted at high-prescribing respiratory physicians and (2) developing Spiros, a proprietary dry powder pulmonary drug delivery system.

***

    The California Computer Expo , Aug. 21-24, has become an annual summer fixture at the San Diego Convention Center. This year, one expo exhibitor, Computer Parts Plus, is seeking to generate some extra excitement. To promote the opening of its new San Diego superstore and the upcoming expo, Computer Parts Plus is teaming with America Online's Digital City to accept contest entries and award a fully load multimedia computer to one lucky entrant.
    The contest's grand prize is a Pentium Pro-class computer featuring a 166-MHz K5 processor, 16-mb RAM, 1.44-mb floppy drive, 1.2-GB IDE hard drive, 14-inch VGA monitor, 104-key Windows 95 keyboard, three-button mouse, 16-bit sound card, 600-watt stereo speakers and a 28.8-bps fax/modem.
In addition to donating the multimedia computer for this promotion, Computer Parts Plus will provide the California Computer Expo with computers and accessories for the Computer Gaming Center. One of the expo's most popular attractions, the Computer Gaming Center will be better than ever this year, stocked with 40 computers, all loaded with the latest game releases.

***

    Excel Realty Trust Inc. says it’s purchased four shopping centers located in Collegedale, Tenn.; Richland, Pa.; Mesa, Ariz.; and Glendale, Ariz., for a total purchase price of about $29.7 million and an average cap rate of 10.3 percent (9.96 percent to 10.6 percent). The properties were purchased for a combination of about $21 million in cash and the assumption of $8.7 million in debt. The centers will add approximately 345,000 square feet of gross leasable area and $3.2 million in annualized base rent. All of the centers have been renovated or constructed since 1991 with the center in Collegedale newly constructed in 1997.
    The property in Richland is 100 percent leased and located on an out parcel of a large regional mall. The property has three tenants, Staples, Pier One Imports and Sun TV/Appliance, which comprise about 62,000 square feet. The property is enticing because of additional construction contemplated in the immediate area. A theater and a large medical complex are currently under construction on additional out parcels not owned by the company.
    Apison Crossing, in Collegedale, is a neighborhood shopping center of about 80,000 square feet and is 99 percent leased. The center is anchored by a Winn Dixie supermarket, which occupies approximately 48,000 square feet.
The two Arizona properties located in Mesa and Glendale are under lease to Basha's supermarkets. The centers are approximately 84,000 and 119,000 square feet, respectively, and are 98 and 100 percent leased.
    Year to date, Excel has purchased 18 shopping centers for a total purchase price of approximately $153 million. The newly purchased properties have been centered on the company’s nine regional offices and have added approximately $16.1 million in annualized base rent and 2.1 million square feet of gross leasable area. Its property portfolio is currently 97 percent leased with 76 percent of the annualized base rent from tenants with more than six years remaining on their lease. The company currently owns or manages more than 11.6 million square feet of retail space in 28 states.

***

    Cymer Inc. says its board has approved a two-for-one split of its common stock. Shareholders of record on Aug. 21 will be issued certificates reflecting the additional shares. These certificates will be distributed on or about Sept. 11. The stock split will increase the number of shares of common stock outstanding from 14.25 million shares to 28.5 million shares. Robert P. Akins, Cymer's president and CEO, says the intention of the split is to obtain wider distribution and improving the marketability of the common stock.
    Cymer, with headquarters in San Diego, is the leading provider of excimer laser illumination sources for use in deep ultraviolet photolithography systems targeted at the pilot and production segments of the semiconductor manufacturing market. Its stock is traded on the NASDAQ stock market under the symbol CYMI.

***

    If you gotta engage in a civil lawsuit and time is crucial, San Diego Superior Court is the place to do your litigating. A new state study shows that San Diego was the fastest county in California, completing 72 percent of its civil cases within 12 months, compared to 58 percent for Riverside, the next fastest county in the 1995-96 fiscal year.
    Executive Officer Kenneth Martone is proud of the accomplishment. "Our judges pioneered civil delay reduction statewide with our local rules in 1987, and their aggressive case management set the foundation for our continued success," Martone says. "The crush of three strikes cases here did not result in the delays other counties experienced."
    In other lawsuit stats, records indicate that personal injury lawsuits from car accidents represented 18.18 percent of civil cases filed in San Diego during the first six months of 1997, up slightly from the pace in the first half of 1996.

***

August 7, 1997

    One of Downtown’s early high-rise landmarks, the 18-story 110 Tower Building (formerly known as the Bank of California building) at 110 West Ash St. has sold for $28 million to Denver-based Amstar Group Ltd. Tom Olson and Alan Scott of MH/CW Property Services advised Amstar during the transaction and now will provide management and leasing services for the 318,238-square-foot structure that was built in 1971.
    With the building only 49 percent occupied, the more than 150,000 square feet of space available represent one of the largest vacant blocks of office space in the county.

***

    International exporting business opportunities for North County businesses will be the topic of a conference set for Aug. 13, noon to 2 p.m., at the California Center for the Arts, Escondido. The conference is being hosted by the World Trade Center San Diego, the Fallbrook Chamber of Commerce, California State University San Marcos and the cities of Escondido, Poway and Vista.
    Speakers will include executives from Carlsbad's Taylor Made Golf, Escondido's Datron World Communications and Solana Beach's Cool Zone. Also, World Trade Center and Rancho Santa Fe National Bank executives will discuss trade, export and lending services. Cost is $20 for World Trade Center members, $25 for others. Call David Schaffer — (619) 685-1453 — for reservations.

***

    In another sign the real estate market is thriving, Aviara in Carlsbad reports it sold 25 new houses between July 14 and July 20. The sales totaled $8.6 million, or an average of $348,000 per house.

***

    Strategic Telecom Systems, one of the nation's largest marketers of prepaid long distance telephone calling cards and other telecommunications services, holds a regional training school Aug. 9 at the Wyndham Emerald Plaza Hotel for 1,100 Missouri independent sales representatives. The classes will be conducted by 300 STS employees.

***

    In his quest for the U.S. Senate seat now held by Barbara Boxer, Darrell Issa, Vista's auto alarm king, officially opens his campaign headquarters today. The office is at 550 West Vista Way, Suite 200.

***

    For the eighth consecutive year, Insty-Prints of San Diego owners Jim and Connie Adelman were presented the National Sales Leadership award at the franchise operator's convention in Minneapolis, MN. The Adelman's earned the honor based on their business posting a 32 percent growth rate last year. The couple's Insty-print, now located in a 5,000-square-foot Mira Mesa building, has had the largest Insty-Prints sales volume in California since 1989.

***

    The final sections of the fabric roof for the SportCenter at USIU will be installed during a special ceremony Aug. 14 at 11 a.m. Luscardi Construction is doing the work. In all, 14 panels of vinyl-coated, woven fabric are being affixed to the 240-foot-long steel trusses which serve as supports. Each panel weighs about a ton and is installed 70 feet in the air.
    The SportCenter is a 52,000 square foot playing facility that, when finished, will hold six full-sized basketball courts, convertible to 12 full-sized volleyball courts. It will house the largest continuous wood floor in California and boast one of the largest free-span playing surfaces in the country.

***

    Nicolet Imaging Systems has acquired Westford, MA-based Sierra Research and Technology. Nicolet, a ThermoSpectra company, is a leading manufacturer of real-time X-ray imaging systems for quality control and process monitoring applications within the electronic assembly market segments.

***

    Nine lots totaling 21.23 acres in the Eastgate Technology Park have been sold for $15.49 million. The buyer was The Irvine Co. while the city of San Diego was the seller. The property, the final lots available, will be used for research and development and corporate office projects.
Rick Sparks and Neil Fox of CB Commercial represented the city, while Chris Loughridge of Voit Commercial represented the Irvine Co.

***

    The art of baking bread and painting a picture will be the ingredients for a unique art exhibit Aug. 8, 5-8 p.m., at the Bread and Cie Bakery Cafe, 350 University Ave. in Hillcrest. Bakery owners Charles and Dori Kaufman have cleared the walls to make room for a show of original art from St. Madeleine Sophie's Center for developmentally disabled adults in El Cajon.

***

August 6, 1997

    The College of Business Administration at San Diego State University is seeking organizations willing to offer paid internship positions for junior and senior business undergraduates and MBA students. Students have experience in such fields as accounting, banking, finance, information systems, management and marketing.
    The program allows companies a variety of options that emphasize flexibility for both employers and students. Students work 11 weeks for about 10 hours per week. Organizations pay a single fee of $550 to the college for each intern they hire, thereby avoiding payroll and advertising expenses.
    For more information about the program, call Jeff Glazer at (619) 594-3012 or the Internship Bureau at (619) 594-4774.

***

    Top executives at four San Diego biotechnology companies will give full analyst-style presentations for individual investors attending the inaugural San Diego Biotechnology Forum Aug. 9 at the Mission Valley DoubleTree.
    Attendees will hear about cutting edge developments and financial prospects in biotechnology from several of San Diego’s highest-ranking executives. Each will give a 20-25 minute presentation followed by 15 minutes of Q&A.
    Daniel Kisner, president, is the presenter for Isis Pharmaceuticals. Representing La Jolla Pharmaceutical Co. is Steve Engle, CEO. Arthur Benvenuto, CEO of Advanced Tissue Sciences will present along with Gary Gentzkow , executive director of Worldwide Medical Affairs. Larry Stambaugh, CEO, will present for Maxim Pharmaceuticals.
    In addition, attendees will receive industry perspective from noted biotechnology guru Jim McCamant, editor of the Medical Technology Stock Letter. McCamant is viewed by many as the nation's foremost expert on biotechnology and pharmaceutical stocks. His views are closely followed by media and biotechnology industry observers.
    The Forum is produced by Informed Investors Forum of Sacramento and co-sponsored by Investor's Business Daily. It runs from 8:30 a.m. to 12:30. The cost is $15 pre-paid and $20 at the door. Included is a continental breakfast served at 8 a.m.

***

    Daou Systems Inc. has filed a registration statement with the Securities and Exchange Commission for the proposed public offering of 2 million shares of common stock, of which 500,000 shares will be sold by the company and 1,500,000 shares will be sold by certain stockholders. Daou will not receive any of the proceeds from any sales of the shares by the selling stockholders. Hambrecht & Quist LLC will lead manage the underwriting group; Alex Brown & Sons Inc., and Cowen & Co. will serve as co-managers. The company and the selling stockholders also will grant to the underwriters an option to purchase up to 300,000 shares of common stock solely to cover over-allotments, if any.
    Daou Systems plans to use the proceeds of the offering principally for working capital and general corporate purposes. The company also anticipates using a portion of the proceeds to fund acquisitions of complementary businesses, although there are no current arrangements or understandings with respect to any specific acquisitions.

***

    Cox Interactive Media has brought its interactive studios to San Diego. The new studio will serve as an interactive community for San Diego Internet users. The primary purpose behind CIM's San Diego Studio is to link community members and provide current, localized information for the diverse population's needs, interests and activities. The San Diego Studio joins CIM's interactive line-up which reaches coast to coast, including Atlanta, Austin, San Francisco, Orlando, Miami and West Palm Beach. CIM will open over 20 new interactive studios across the country in 1997.
    A veteran of high-tech marketing and the news media, Mark Forster is leading the San Diego Studio into cyberspace. Prior to joining CIM, Forster was director of marketing for 3Com Corp.'s network access division. As marketing manager for two other San Diego entrepreneurial companies, he was instrumental in successfully developing and launching new technology products. Before entering the high-technology field, Forster spent more than six years as a staff writer for the Los Angeles Times.
"The San Diego area is a perfect match for Cox Interactive Media. The large online community in the city will benefit from CIM's ability to provide them a unique, tailored experience," says Peter Winter , president of Cox Interactive Media, headquartered in Atlanta, Ga. "We look forward to partnering with other Cox-owned media in the area to create sites characterized by a 'locals-only' flavor with dynamic and robust content in a functional format."
    Bill Geppert, general manager of Cox Communications Inc. in San Diego, is ready to lend his support to CIM's plans. "As the online arena continues to grow, it is vital that Cox Communications works in concert with CIM to ensure that the San Diego community has access to the best information on the Web about our city," says Geppert. "With radio, newspapers, broadcast television, cable, and now, the Internet, consumers can find the best content, style, and value from the entire Cox media family."
Forster is ready to bring CIM online in San Diego. "This interactive studio is going to produce content better than anything else on the Web today," says Forster. "The opportunity to work with Cox Communications, Inc. gives us an immediate boost in the market. We will also be working closely with the Cox@Home cable modem group to develop local content for the broadband service and with Channel 4 to provide a Web presence for its coverage of local San Diego events, including the broadcasts of San Diego Padres games and San Diego State University football and basketball," he said.

***

    Kilroy Realty Corp. has signed a letter of intent to acquire the principal assets of The Allen Group, a privately held, San Diego-based real estate investment and development company. The acquisition would include more than 1.7 million square feet of office and industrial space and a strategically located development pipeline that would provide Kilroy with a significant new market presence in Southern California's rapidly expanding North San Diego County region.
    Under terms of the agreement, Kilroy would purchase The Allen Group's existing office and industrial portfolio and its development pipeline, the majority of which is located in North San Diego County, in phases over the next several years for a total estimated investment of over $300 million.
In conjunction with the purchase, the current owners of The Allen Group would acquire an ownership interest in Kilroy Realty L.P., the operating limited partnership of which Kilroy Realty Corp. is the sole general partner. Richard Allen, the managing partner of the Allen Group, would join Kilroy's board of directors. In addition, two senior executives of the Allen Group, Steven Black and T. Patrick Smith, would join Kilroy as executive vice presidents, assuming primary responsibility for the new San Diego operations and joining the senior management team responsible for Kilroy's overall development program.
    "This acquisition is an excellent strategic fit for Kilroy Realty," says John Kilroy, Jr. the company’s president and CEO. "It provides immediate critical mass in one of the most attractive growth markets in California today, along with an excellent development pipeline that will continue to build our market presence in the North San Diego County region for years to come," he says.
    The Allen Group and its principals have pursued acquisition and development opportunities in a number of West Coast commercial real estate markets, focusing most of their efforts on the burgeoning sub-markets of North San Diego County. Prior to forming the real estate company in 1990, Richard Allen was a principal in the family-owned Imperial Cup Co. Steven Black, currently a partner of the Allen Group, is a veteran of the real estate industry with a 16-year history in West Coast commercial real estate. T. Patrick Smith, also a partner, was previously president of Irvine Apartment Communities, a publicly-traded REIT, and, before that, was a division president with The Irvine Co.
    Kilroy expects to finance the proposed acquisition with a combination of cash, assumed debt and the issuance over time of approximately four million limited partnership units in Kilroy Realty, L.P. to the current owners of The Allen Group, including the Allen family, Allen's senior management, and others. The transaction, which is subject to the completion of due diligence and final documentation, would close early in the fourth quarter of 1997.
    Kilroy Realty Corporation owns, operates and develops commercial and industrial properties, primarily in California. At June 30, 1997, the company owned 2.7 million square feet of commercial office space and 2.5 million square feet of industrial space.

***

    U.S. Secretary of Transportation Rodney E. Slater has announced more than $12.6 million in grants for improvements at airports in California. "President Clinton is committed to strengthening economic security and improving transportation safety," Secretary Slater said. "This investment is good for not only the economy of California, but also for our national economy. These airport improvements will create jobs while providing a basis for future economic expansion as air traffic grows."
San Diego airports receiving grants are:

• McClellan-Palomar Airport, Carlsbad, $1 million to extend the runway and taxiway, to improve the runway safety area, to install runway and taxiway signs, to relocate air navigation facilities and rehabilitate a visual approach aid.
• San Diego International-Lindbergh Field, $1 million to soundproof Point Loma High School.

***

August 5, 1997

    The 2,769 resales recorded in San Diego County in June were the highest posted for that month in three years, reports South Coast Title Co. June resales were up 17 percent, or 466 more homes, over June 1996.
    James Reiser Jr., vice president and county manager for South Coast Title, says consumer confidence and favorable interest rates have created the perfect environment for the San Diego real estate market. "We are optimistic about the growth prospects these numbers represent," Reiser says. "The North County coast region, always an excellent barometer for the residential resale market, continues to remain active, and East County has emerged as a hot market.

***

    Carrier Johnson Wu has earned a Design Excellence Award from the Navy for the architecture/interior design of three separate Navy projects in San Diego. The award was given for the renovation of the Naval Aviation Depot Administration Facility, Building 1500 Bachelor Enlisted Quarters and the Bowling Center, all at the North Island Naval Air Station.

***

    Crabby Bob's, a seafood restaurant, has leased 7,600 square feet at Hazard Center in Mission Valley. The 10-year lease is valued at $1.18 million. Jeff Vitek of CB Commercial represented both parties in the transaction.

***

    Construction is complete on Acerbis USA's new corporate headquarters, showroom, distribution and warehouse facility in Poway's Pomerado Business Park. The 40,000 square foot building was designed by Austin Design Group.
    Acerbis USA is owned by Acerbis Italia, manufacturers of high-tech motorcycle components and accessories. Acerbis USA distributes both Acerbis products made in Italy as well as those of other companies for whom they are sole U.S. distributors.

***

    Rep. Bob Filner, San Diego’s only Democratic in Congress, is being congratulated by the Software Publishers Association for co-sponsoring legislation (H.R.-695) that would allow for higher levels of encryption than some government departments would like.

August 4, 1997


    Mike Stepner's decision to quit his city planning position over frustration with his decreasing influence continues to reverberate through City Hall and San Diego. The Union-Tribune's architecture critic is calling on city officials to boost Stepner's role and get him to stay as "City Architect."
    For more insight into Stepner's decision to leave, following is his resignation letter, directed to Jack McGrory, city manager; Penelope Culbreth Graft, assistant city manager; and Kurt Chilcott, community and economic development manager:
    "On Friday, October 3, 1997, I will leave my position as City Urban Design Coordinator. During my 26-year tenure with the city, I have been privileged to play a fundamental role in many of the initiatives that have shaped and continue to shape our incomparable city. These initiatives have ranged from the city's growth management plan to the redevelopment of Centre City particularly the revitalization of the Gaslamp Quarter. My accomplishments also include: community plans, neighborhood development programs, and, most recently, the work of the Renaissance Commission and the Livable Neighborhoods Initiative. Additionally, I have played key roles in specific design issues such as the Live/Work Ordinance, single-room occupancy hotels, and sidewalk cafes.
    "The success of these initiatives has not been due to a single individual working alone but to the cumulative effort of many dedicated and talented people working together. That always was the key; and, it still is. I have been fortunate to work with and to learn from such people. The city is at a crossroads - an often-used term that describes where we always are. To quote Peter Drucker, 'Long-range planning does not deal with future decisions but with the future of present decisions.'
    "San Diego is changing rapidly, necessitating our creative response to the challenges and opportunities that are on the horizon. The need for sound, long-range planning and community-building has never been greater. The development of a long-range vision for San Diego, together with the renewed focus on neighborhoods, is the critical framework upon which the city must base all its decisions about the future.
    "We are beginning to head in that direction. The formation of the Community and Economic Development Department was a critical initial step. Planning and community-building are a continuous process in which city officials must be engaged unrelentingly in partnership with the community; and, the present time is no exception. As part of the approved work plan, staff has begun to address the highest-priority issues facing the city. Soon, the city will begin to update the Progress Guide and General Plan, the vision and the blueprint for the growth and development of San Diego.
    "The new General Plan should address not only land use but, just as important, the use of the land. The social, cultural, and economic changes and opportunities that face this city are all critically interrelated and all are tied to how the land is used. The future quality of life in this city will be determined by the manner in which you do the job.
    "As one of the 'architects' of the work plan and the General Plan work program as well as one of the earliest advocates for what has become the restructured city organization (in particular, the new Community and Economic Development Department), I deeply regret that I cannot be a member of the city team that will accomplish this vital mission
    "In the last year or so I have been placed in an untenable situation where my talents and experience have been vastly underutilized. Management's recent decision to disregard more than a quarter century of vision, achievement, responsibility, and loyalty has not been in my best interest and, most certainly, has been a disservice to the citizens of San Diego. Consequently, the point has been reached where I believe I can best serve the city as an active, private citizen and as a professional in private practice.
    "Throughout my years with the city, I have been fortunate to have had the support,guidance, and participation of city staff, the community, and the decision makers. To all of them, I owe a debt of gratitude that can never be repaid. I am proud to have been an employee of the City of San Diego and enjoyed every minute of it (almost). In parting, I wish all of you every success in fulfillment of the challenging tasks that lie ahead. In the words of Socrates, 'By far the greatest and most admirable form of wisdom, is that needed to plan and beautify cities and human communities.'"
    SIGNED
Michael J. Stepner, FAIA, AICP City Urban Design Coordinator Urban Policy Advisor to the City Manager, Assistant Planning Director, Special Projects Coordinator, Deputy Planning Director, City Architect, Principal Planner, Acting Planning Director, Senior Planner, City Historian, Assistant Planner, City Architect Emeritus

***

    Reaching into the executive ranks of a competitor for its latest hire, First Virtual Holdings Inc., a leader in advanced communications, transaction and marketing systems for Internet commerce, says it has named Carolyn Turbyfill its to vice president of engineering and operations. Turbyfill previously served as vice president at Pretty Good Privacy, where she was responsible for leading development efforts, international sales and strategy for PGP's security and encryption products.
    Prior to working for PGP, Turbyfill directed The Internet Commerce Group for Sun Microsystems, developers of the SunScreen SPF-100 product, the SKIP protocol for IP layer encryption, and a certifying authority for SunScreen customers. Also, she was the systems architect for Sun's server product line and manager of a wireless LAN project.
    In her new position, Turbyfill will be responsible for all areas of the company’s information, transaction and network systems. She will work to continually update and upgrade the First Virtual Internet Payment System, as well as investigate new opportunities in Internet advertising and "push" technologies.

***

    Cost Plus Inc. premieres its winning combination of home decor and entertaining "World Market" stores on Thursday, Aug. 14 at 9 am. The Oceanside grand opening marks the retailer's fourth expansion into the San Diego area and the 63rd Cost Plus World Market nationwide.
    Cost Plus World Market, opening at 2140 Vista Way in the Pacific Coast Plaza, offers over 10,000 unique and affordable home furnishings and entertainment items including gourmet foods and beverages, furniture, glassware and ceramics, exotic collectibles, baskets, rugs and pillows, imported from 50 countries around the world.
    "We believe a spicy combination of competitively priced international home furnishings with gourmet food and wine is the recipe for success," says Ralph Dillon, CEO. Nowhere is this more true than in Oceanside where, "the demographics of the greater San Diego area are a perfect match for Cost Plus World Market."
    The Oceanside store is a 19,000 square foot showcase of world cultures that customers may navigate from a single starting point; the compass rose etched into the floor. Stocked with international treasures, customers will discover an eclectic collection of merchandise including hand-crafted iron candlesticks from India, 18 varieties of olive oil, 250 labels of wine, hand-carved masks from Ghana, recycled wood furniture made in Indonesia, handmade birdhouses, unique kitchen utensils, hand-painted ceramics from Italy and much more.
    Activities planned for opening day include a treasure hunt with customers and a personal appearance by Executive Chief Bernard Guillas of the La Jolla Beach and Tennis Club from noon-2pm. In addition, the Headliner Dixie Three Jazz Band and Island Fever will provide musical entertainment throughout the day while magician Stephen John will perform world-class sleight-of-hand on from 8:30-11:30am. Numerous gourmet food tastings will be available from Tobler Orange, Ghirardelli Chocolate, La Tempesta Biscotti, Mezzetta, Thai Kitchen and much more.
    Cost Plus was founded in 1958 when a San Francisco businessman blended his passion for travel and retail by selling shiploads of hand-woven wicker he discovered during his travels through Asia. In addition to Oceanside, Cost Plus, Inc. plans to open seven more stores for a total of ten new stores throughout the United States in 1997.

***

    Atcom/Info, an industry leader for public Internet access, is debuting the Payphone Cyberbooth, the latest addition to its Cyberbooth family of public Internet access kiosks. Designed for locations where space is limited, the Payphone Cyperbooth fits in a standard pay phone enclosure providing convenient high-speed access to the Internet, e-mail and information resources for people on the move.
    Neil Senturia, CEO, says the Payphone Cyberbooth incorporates the proven technology of Atcom/Info's existing Cyberbooths, but in a smaller, less expensive structure.
"By fitting in a standard pay phone enclosure, the Payphone Cyberbooth reduces the space required to provide the public with high-speed access — a real plus for locations where space is at a premium," Senturia says. "And by using fewer and smaller components, the Payphone Cyberbooth reduces capital equipment, installation and maintenance costs. These two factors make the Payphone Cyberbooth the ideal choice for cost- and space-conscious providers."
    Existing pay phones can now be replaced with Payphone Cyberbooths, allowing installation of convenient Internet, e-mail and information service access virtually anywhere. In addition, Internet access and remote-control capabilities are provided by a single standard dial-up telephone line, reducing the cost for telephone-line installation services.

***

August 1, 1997

    With neat toys for kids and the sparkling "Jack's Back" commercial campaign leading the way, Foodmaker Inc., operator and franchiser of Jack in the Box restaurants, reports profit of $10 million, or 25 cents per share, in the third quarter, compared with $5.5 million, or 14 cents per share, in the third quarter a year ago. The results were good enough to give the company its 10th consecutive quarter of improved per store average sales at comparable company restaurants. PSA sales grew 7.7 percent, in addition to the 5.2 percent improvement in the same quarter a year ago.
    "In an industry that continues to be fiercely competitive, Jack in the Box has been able to grow our business by meeting the wants and needs of our customers," says Robert J. Nugent, Foodmaker's president and chief executive officer. "Our product improvements have resulted in significant sales increases that clearly reflect consumer expectations of quality. We are committed to standing out among our competitors in quality and service."
    Sales at company-operated restaurants grew 12.3 percent to nearly $235 million during the third quarter compared with the same quarter a year earlier, while system-wide sales improved 10.5 percent to $317.1 million. Total revenues increased 3.5 percent to $251.7 million in spite of a decline in distribution sales.
    Average check amounts rose 2.2 percent in the third quarter compared with a decline of 1.6 percent during the same period a year ago. Simultaneously, customer visits grew 5.5 percent beyond the 6.8 percent growth experienced in the third quarter last year.
    In addition to a renewed commitment to product and service improvements, the company showcased its signature sandwich, the Sourdough Jack hamburger. It was promoted with specially developed advertising utilizing the company’s popular antenna balls featuring the likeness of "founder" and "company spokesperson," 'Jack.' The company has sold nearly three million Jack antenna balls since the original advertising campaign began. In the commercials, each antenna ball has a distinctive personality.
Also during the quarter, the company introduced new Jack Vehicles as a kid's meal promotion, a series of five toy vehicles featured in the Jack's Back television commercials.
    The company continued its growth plans, which call for opening up to 80 new Jack in the Box units by the end of the fiscal year. At the end of the third quarter, there were 920 company-operated
restaurants, an increase of 53 restaurants from a year ago. Foodmaker operates and franchises 1,280 Jack in the Box restaurants, primarily in the West. With more than $1 billion in annual revenues, the company has 26,000 employees and is headquartered in San Diego.

***

    They're celebrating San Diego’s trash in Scottsdale, Az. "This transaction marks one of the largest privatizations in solid waste industry history," says Allied Waste Industries Inc., in a statement distributed by PRNewswire. The agreement will be finalized with approval by the County Board of Supervisors on August 12.
    Under the agreement, Allied will assume ownership and operation of the county's solid waste system consisting primarily of four landfills. "Allied is honored to have been recommended by the Chief Administrative Officer of San Diego County in this highly competitive privatization transaction," says Roger Ramsey, Allied's Chairman of the Board. "We are committed to providing the highest level of environmentally responsible service to the citizens of San Diego County."
    Allied Waste, headquartered in Scottsdale, is a vertically integrated solid waste management company providing non-hazardous waste collection, transfer, recycling and disposal services to over 1.4 million residential, municipal and commercial customers located in 21 states. The company conducts its operations through 82 collection companies, 40 transfer stations, 22 recycling facilities and 55 landfills.

***

    The San Diego Convention Center Corp. has debuted a new Web site designed to make it easier for planners worldwide to schedule business in the region's largest meeting hall. "We want to provide planners with information to make their jobs easier," says Carol Wallace, the center's chief operating officer. "There is information like floor plans, room dimensions, points of contact, service providers and maps. This will allow our clients, or anyone, including the general public, who may want information about our facilities, to do so quickly, 24-hours a day."
    The site is located at www.sdccc.org. An additional page — www.sdcc.org— has information about the corporation behind the center.

    Demolition of the Goodwill block and work on a retail/entertainment/residential development is tentatively set for fall, says Will Gustafson , the developer and managing partner of Pacific Gaslamp Partners . In an interview from the Turks and Cacos Islands, where Gustafson was vacationing, he spoke inspiringly about how the resurgence of Downtown San Diego has caught the attention of potential tenants — retailers and restaurateurs — nationwide.
    "Everybody just a year ago was saying, "well, we’re going to wait,'" Gustafson says. "Now the interest is phenomenal." Gustafson says the hot residential market has him considering housing from the third floor up. He's working with Callison Architecture , which in the early 1990s assisted Neil Senturia on plans for a high-tech Gaslamp entertainment complex called Xanadu that would have featured an RKO movie studio attraction as the anchor tenant.
    In the meantime, Peter Hall says there are at least three, maybe four, proposals to build an IMAX 3D theater Downtown. Hall first learned Krikorian Premiere Theatres wanted to build one of the giant-screen theaters in the Gaslamp when he read about it last month in the Union Tribune . The U-T identified the site as "between Fourth Avenue and K Street," which intersect. At that three-cornered intersection butting up against the trolley line is Pioneer Warehouse , the already-approved Bridgeworks hotel site and two parking lots behind Cost Plus . Krikorian executives could not be reached for comment, although Gustafson says, "George Krikorian's going forward with the IMAX is testimony" to Gaslamp's potential.
    At this point, the Center City Development Corp. that Hall heads is working most seriously with OliverMcMillan , which already has a jump on the entertainment competition with its 14-plex Pacific Theatres at G Street and Fifth Avenue nearing completion and is now looking to develop more on the east side of Sixth Avenue. Wherever the IMAX goes, it’s expected to attract restaurants and other related uses. "Of course all of these things are going to be great, but there won’t be four IMAXes," Hall says.

***

    Greg Shannon and members of his Community Liaison Group to the Unified Port District are fuming at Doug Manchester's effort to get conceptual drawings approved for the Hyatt Regency expansion at commissioners' Aug. 12 meeting. A year ago, the group made up of Downtown residents and business people bought off on a 715-room expansion with 20,000 square feet of conference space. "Now we’re looking at 815 rooms and 80,000 square feet of meeting space; it’s the meeting space we don’t like" because it will block too many views, says Shannon.
    "The port staff tells me the Hyatt is not going to the commission on the 12th. Staff maintains that it’s not appropriate to act until the draft EIR is certified and that’s not until December to February."

***

    Jonathan Segal is back again with another of his trademark small Downtown housing projects aimed at buyers who eschew the peculiarities of the larger condo and town house developments. The 16 homes in Segal's Kettner Row , some with granny flats, are selling for $189,000 to $235,000. Sited on 15-by-80 foot parcels, all have garages and back yards. They should be ready for occupancy early next month.
    Located in Little Italy, Kettner Row is part of the Lind Project , a public-private partnership of the Centre City Development Corp. and developers to redevelop an entire block. "(The Lind Project) should be the kick start of Little Italy," says Segal, whose other for-sale Downtown projects were Seven on Kettner, Island Lofts, Brickyard and Fir Lofts .

***

    San Diego’s Mike Kriozere , who brought Downtown CityFront Terrace , has exported the development's ambiance to San Francisco, breaking ground for One Embarcadero South , an upscale apartment development across the street from the Pacific Bell Park project that will be home to baseball's San Francisco Giants . Two AFL-CIO trusts are financing Kriozere's $71 million, 14-story, twin tower venture. The 233-unit building shares with CityFront thick landscaping, brick-and-precast aggregate materials and a terrace-balcony appearance. And the architect — Solomon Cordwell Buenz & Associates — is the same. Completion is scheduled for February 1999.
    Kriozere, who sold his CityFront interest to his Japanese partner last year, says he’ll build again in Downtown San Diego when the employment base grows, something he says a new ballpark for the Padres would stimulate.

***

    The usual "June gloom" cast a pall over the real estate market, depressing sales 4.9 percent compared to May. The average sale price for detached homes fell from $245,549 to $241,661, a 1.5 percent decline.
Better, and more importantly, reports the San Diego Association of Realtors , year-to-date sale prices are up 5.7 percent from 1996. And in June, the average sale price was up 5.3 percent from June 1996. In the first half of 1997, the average sale price for a detached home was $236,455, up 7 percent from the $220,993 posed in the first six months of 1996. The average sale price for attached homes in June was $148,893, compared to $140,348 a year earlier. The number of active listings in June was down 1.3 percent to 16,445, squeezing the market a bit and helping get prices up.
    For some, the market is truly hot. Gary Kent, a Re/Max agent, sold 136 homes during the first half of this year, including 35 in June. "I’ve never before had a month like June," he says.

***

    In another sign the economy is improving, the assessed value of taxable property in the county has risen 2.9 percent to $150.3 billion for fiscal 1997-98. That's a full point higher than five years ago and greater than the last three years combined. Greg Smith, the cute county assessor, says increases have been held down by more than $15 billion in temporary assessed value reductions that he's granted in the last six years. "However, recent increases in sales indicates that the real estate market is starting to turn around, especially in investment grade properties such as hotels, large apartments and office buildings," says Smith, whose office assigns values to more than 850,000 parcels of real property, 129,000 businesses, 22,000 boats and 4,000 aircraft.

***

    The Gaslamp Quarter's Queen Mary , aka Mary Montroy, takes over Children's Park on Sept. 7 when she presents — and the San Diego Metropolitan sponsors — a Grandparent's Day celebration that will include entertainment and the crowning of "celebrity" grandparents. The event runs noon to 5 p.m. Queen Mary expects 3,000 people to turn out, with attendance boosted in part by the Sunday conclusion of Street Scene 1997.

***

    The grand opening of Mayfield Homes in Del Mar Highland is set for Aug. 2, 10 a.m. to 2 p.m., says Rachel Fox, area sales manager for Pardee Homes. The houses are 2,054 to 2,645 square feet and priced from the $320,000s.

***

    John McLernon , chairman and CEO of Colliers Macaulay Nicolls Inc., and Jack Naliboff, president of StepStone Real Estate Services, have teamed to form Colliers StepStone, LLC. The company will work closely with the local offices of Colliers Iliff Thorn to provide commercial real estate services.

***

    The 7th & C Street Trolley Lofts , ranging from 750 to 1,250 square feet, open for previews this month.

***

    Sales and customer service training pros at The Whetstone Group are on a roll. New clients include American International Group in L.A., California United Bank in Long Beach, SurEmail in Laguna Hills, and Fashion Furniture Leasing, Ponderosa Landscaping and Peterbuilt Construction in San Diego.

***

    Renovation should finish this month on the 610 West Ash Street Building — the former Burnham Building — with the $850,000 effort bringing the 13-story office tower back up to true Class A standards. The project team includes Johnson & Jennings,
general contractor; Howard Sneed Interior Architecture, architect; Hope Engineering, structural engineer; CDM Miller, construction manager; Stepstone Real Estate Services, building manager; and Maier & Siebel Inc., building owner.

***

    Long-time Price Co., PriceCostco and finally Price Enterprises executive Daniel Carter switches next month to Advanced Marketing Services Inc., a company that grew up with the Price Co., providing Price Clubs and other retail membership stores with millions of copies of best-selling books. At AMS, Carter, 41, is taking the position of executive v.p. and CFO. He starts work Sept. 2, succeeding longtimer Jon Fish, who resigned effective June 30 to pursue other interests. Carter joined Price Co. in 1986, holding a variety of financial executive positions. At a company notorious for not talking to reporters, and rarely even to analysts, Carter was frequently the most available spokesman for the business press.

***

    For the 11th time in its 17-year history, Fashion Careers of California , a San Diego fashion merchandising and design college with about 100 students, presents its Golden Hanger Fashion Awards. Recipients are Robbi Kraft of Kraftstyle, lifetime achievement award; Zandra Rhodes for Zandra By The Sea, apparel designer of the year; Pacific Eyes & T's/Beyond The Beach , retailer of the year; Flashbacks, vintage boutique of the year; Ann Paxton, accessories designer of the year; Callaway Golf, manufacturer of the year; Tred Air U.K., progressive retailer of the year; Sauvage, fashion company of the year. A special award, given annually to an individual who has had a major impact on the San Diego fashion industry, was presented to the Union-Tribune's Burl Stiff.

***

    Graphite Design Inc. , a Japanese manufacturer of graphite golf shafts, is expanding in Otay Mesa, reports the Regional Economic Development Corp. The company is constructing a 50,000-square-foot building and will hire 140 new people. The EDC provided Graphite Design with information on state tax credits and made introductions to SDG&E and regional permitting agencies such as the APCD.

***

    To market San Diego in Hong Kong, the Unified Port District is spending $75,000 on a one-year effort to open an office in the Asian city, with the San Diego Convention & Visitors Bureau and World Trade Center of San Diego contributing an additional $25,000 each. Neil Whiteley-Ross at (619) 234-8484 has more info.

***

    California Western School of Law grads ranked third in the state, following UCLA and Stanford, for all takers of the 1997 bar exam, the school reports. In San Diego, California Western ranked first, with an overall pass rate for all takers of 70.1 percent. The University of San Diego ranked 10th, with a 61.6 percent pass rate, while Thomas Jefferson School of Law ranked 16th with a 54.9 percent pass rate. For first-time takers of the bar, California Western ranked fifth, with 76.1 percent passing. USD ranked ninth with a 73.7 percent pass rate while Thomas Jefferson was 14th with a 60.7 percent rate.

***

    The University Towne Centre shopping center is embarking on a three-phase, $12-million renovation that includes a complete remodel, remerchandising and additional landscaping and customer amenities. During the first phase, the food pavilion will be connected to a new patio and be renamed "The Marketplace." An enlarged seating area will be covered by a canopy of 10 large Canary Island date palms. A 57-foot-tall tower will serve as the center's most visible spire. Lee Wagman, president of TrizecHahn Centers, the San Diego-based company that owns UTC, expects the move to boost spending at the mall. "In 1996, sales for the one-million-square-foot center were more than $372 per square foot, well above the national industry average of $290," Wagman says. "We will increase our sales performance through this remodel and remerchandising of UTC."

***

    Susan Barnes Piegza, the former vice president of the San Diego Regional Economic Development Corp. has left to take the director of client services position with Semradek & Co., a Chicago-based site location management consulting firm.

***

    Demand for office space in San Diego County is causing vacancy rates to drop, setting the stage for significant rent hikes over the next 18 months, says a market report authored by John Burnham & Company Oncor International. During the first half of 1997, the office vacancy rate fell two points to 11.8 percent, the lowest rate in more than 16 years. Nearly all the region's office markets report vacancy rates in the single-digit range with the exception of Downtown, where vacancy stands at 19.8 percent. The limited supply already has resulted in tenants locking in leases, and rents have escalated by as much as 10 to 15 percent in some areas over the last six months. With no significant new construction on the horizon, the report notes, rental rates are expected to continue to rise over the next 18 to 24 months.

***

    In the July feature "Why Businesses Change Banks," we demoted Ron Kendrick at Union Bank of California to senior v.p. Before it is reflected in his paycheck, we'd like to set the record straight: Kendrick's an executive v.p. and area executive for San Diego. The Metropolitan regrets the error.

***

    The Chamber Building has signed an exclusive listing agreement with A.W. Arendsee Real Estate.

***

    Jim Watkins is adding an eighth vacation ownership resort to his Winners Circle Resorts International Inc . The new resort, to be called Dolphin's Cove, is located near Disneyland in Anaheim. Jerry Murphy, newly appointed Winner's Circle vice president, will act as project director, overseeing construction, sales and marketing for the 136-unit time share. Amenities will include two swimming pools, a Jacuzzi-style pool, clubhouse and fitness center.

***

    For an undisclosed price, Media Dimensions, an advertising and public relations agency, has acquired San Diego-based Chicago Printing, a printing and pre-press production firm. "We wanted to create a strong graphics center in order to better service our clients in today’s fast-paced, quick turn-around marketplace," says Joe Piercey, president.

    Most people think the NBA only stands for a basketball organization. But they're wrong and attorney Randy Jones is the man to tell them so.

    The NBA also stands for the National Bar Association, the nation's oldest and largest association of minority lawyers. Jones is the first San Diego lawyer, as well as the first federal prosecutor, to be elected president of NBA in its 72-year history. He will be installed this month in Minneapolis as the group's 55th president.

    Raising the organization's visibility is one of his first goals. "I want to be sure that the NBA is at the forefront of issues that affect the African-American community," he promises. "I want to provide services that enhance the personal and professional lives of our members."

    But foremost on his list is letting people outside the legal profession know about the organization. "People confuse us with the National Basketball Association," he says. "We need to get the word out to make sure people know who we are."

    That's quite a big job. But Jones is never one to shirk. He's been active in national, state and local bar associations and served as president of the Earl B. Gilliam Bar Association in San Diego. He belongs to numerous community organizations, including the San Diego Crime Victims Fund, Voices for Children, Nu-Way Youth Center Gang Diversion Program, San Diego Link Achievers, and serves as mentor to the SDSU men's basketball team. He also founded the Neighborhood Law School.

    All this is his way of paying back. As the youngest of 10 children, and the only one to attend college, he is now an assistant U.S. Attorney assigned to the violent crimes and criminals unit. "I’m standing on the shoulders of so many people who gave to me," says Jones, who is a graduate of LEAD. "I have a great debt to pay to those people."

    Small businesses seeking $250,000 to $5 million in early stage capital are getting some help in leaping the "capital chasm" from UCSD Connect and the U.S. Small Business Administration. Connect's InVest Program and the SBA's on-line Angel Capital Electronic Network, known as ACE-Net, aim to bring private investors, or "angels," together with entrepreneurs.

    Small businesses in the market for more than the typical bank loan and less than a multimillion dollar venture capital investment have, until now, faced an uphill battle finding seed capital investors, while potential angels have been frustrated by the lack of an efficient information network providing leads on potential investments, reports Terry E. Bibbens, entrepreneur in residence at the SBA's Office of Advocacy. ACE-Net, on-line as of April, aims to bridge that gap by allowing entrepreneurs to post information on a web site accessible to accredited potential investors. Nationwide, about 250,000 angels annually invest some $20 billion in 30,000 small businesses, says Bibbens, but from five to 10 times as many would invest given the opportunity.

    Connect InVest founders note that San Diego is a distant third behind Silicon Valley and the Boston area in its funding of start-up companies. One of the goals of InVest, which includes access to a local angel network and ACE-Net, as well as forums and mentoring programs, is to bring San Diego to the level of those markets. Connect's program is incorporated into ACE-Net, as are UC Irvine's Accelerate program and similar programs in Massachusetts, Pennsylvania, Texas, Georgia, Kansas and North Carolina.

- Carol McAvoy

    Following in the Wright Brothers' pioneering footsteps, Freewing Aerial Robotics Corp., a designer and producer of aircraft using freewing technology, is one of the first companies to venture into the new world of direct public offerings - offerings via the Internet. Company President Odile Legeay described the experience to 150 entrepreneurs at a recent UCSD Connect conference on "Raising Money on the Internet: Fact, Fantasy or Fiction?"

    The advantages of going public on-line rather than the traditional way, says Legeay, include lower costs, not being dependent on investment bankers for the timing and amount of the offering, and small investors' access to the opening share price. Disadvantages: "convoluted" state approval procedures, the burden on the company to do its own marketing, and limited trading. The "silver lining," she says, takes the form of less stock volatility and less "fish bowl" exposure when the company isn’t ready.

    Panelists outlined the process, prospects and pitfalls of on-line public offerings. Baker & McKenzie attorney Carlos Heredia notes the SEC was "Internet-friendly" to direct offerings, which are an intermediate step before a traditional initial public offering. Kevin McCall, director of investor relations for Direct IPO, cautions that in order to market effectively on-line, "the summary page must sell the deal in two minutes or less."

    Summarizing a recurrent theme of the conference, Mark Perlmutter, president and CEO of Direct IPO, an Internet public offering company, notes that on-line investors should follow the basic rules of investing in any fashion: "Invest in what you know, diversify, and be patient."

- Carol McAvoy

An International
Award For A
Downtown
Bank Building

    The Union Bank of California Building at 530 B St. in Downtown San Diego was named BOMA International's 1996-97 Rehabilitated/ Modernized Office Building of the Year at the Building Owners and Managers Association's 90th Annual International Convention in Minneapolis.

    "This is the most prestigious award a building can win on an international level," says Kathy Breed, who oversaw the rehab project as corporate real estate officer for Union Bank of California, which owns the building. "It is equal to receiving an Oscar in the motion picture industry. The success of our renovation is due to the collaborative efforts between the bank and the entire building staff, all of whom deserve recognition for this honor."

    Designed originally by Tucker Sadler & Associates and constructed by M.H. Golden Co. in 1966, the building was one of San Diego’s first contemporary high-rises at 24 floors and 237,066 square feet. The building is managed by a team led by Victoria Sullivan of Northwest Asset Management. Howard Sneed Interior Architecture was the project architect for the rehabilitation, with the construction managed by Dean Peterson and Garry Dickson of Johnson & Jennings General Contractors.

    Lori Nunez of PagesPlus, Steve Morris of Morris Design, Lori Murray of Lori Murray & Associates, chief engineer Chris Falcone, administrative assistant Kristi Bement and Bill Brown of Safeguard Security Inc. also were involved in the building's renovation and its presentation to BOMA.

    David Pino, president of BOMA/San Diego, says this was the first time that a first-time entrant from BOMA/San Diego had won an award at the BOMA International level, although others also had won at the international level, including the Home Savings Tower, Symphony Towers and the Jacob Weinberger United States Courthouse. The Union Bank of California Building took top BOMA honors in local and regional competitions before advancing to the international level.

    Big cats are prowling San Diego’s media business streets this summer, and it has nothing to do with cartoons, televised pro team monikers or FOCAS feline adoptions. It does have to do with San Diego writer Cory J. Meacham's summer book, "How the Tiger Lost Its Stripes: An Exploration into the Endangerment of a Species," released by San Diego publisher Harcourt Brace & Co.

    Meacham discusses tigers and signs copies of his book Aug. 7 from 7 to 8 p.m. at Barnes & Noble Booksellers, 12835 El Camino Real, Del Mar Highlands Town Center.

    Only 10 tigers currently call San Diego home. Four Sumatran and an unknown, probably hybrid, reside at the Wild Animal Park, while four Indochinese and a white Bengal hang out at the San Diego Zoo. Meacham explores habitat vs. zoo life in his book.

    Five subspecies remain and three are now extinct. Meacham's book is what he calls a gateway book that "opens the gate between the mainstream general reader and a scientific topic." He insists his book "is not about tigers, but about tracking them."

    Habitat loss has broadened the roles of zoos in saving tigers. Meacham calls for more study on reintroduction of captive cats to the wild.

- Tom Pasqua

    Where are all those people on Sundays who could be filling empty seats at Chargers games? Watching polo? Stop laughing. While the stereotypical polo fan can easily afford a few of those premium seats at the Q that are wired directly to Alex Spanos' bank account, it’s really a lot cheaper taking in a match at the San Diego Polo Club. To wit: The cost of $5 per person (or $15 per car load) for polo, compared to $20 to $55 per Chargers ducket.

    August, called "High Goal" time, is a particularly good month for polo. Players from around the world will be here competing for the Spreckels Cup. The trophy was first presented by the Coronado Polo Club in 1909 and is now the oldest continuously played-for trophy on the West Coast.

    The field of play for polo is about nine times the size of an NFL gridiron. And with 1,000 pound horses charging around at up 30 mph, all driven by mallet-swinging riders intent on smacking a hard plastic ball toward a goal at speeds in excess of 100 mph, things can get confusing. But not to worry.

    "I go to great lengths to show people that they can understand the game after watching just a couple of chuckers," says announcer Steve Lewendowski, explaining that a chucker is simply a period of play. A San Diego native who's been announcing games at the San Diego (formerly Rancho Santa Fe) Polo Club for five years and at other clubs as far north as Santa Barbara and east as Scottsdale, Lewendowski strives for simplicity. "I try to envision myself as a person watching polo for the very first time."

    Polo matches also call for audience participation at halftime when spectators take the field to stomp divots. Children get the chance to hit a polo ball through the uprights. "It’s like being at a Padres game during the seventh inning stretch, only everyone gets to walk out on the field," Lewendowski says.

    Starting Aug. 10, there's a polo match each Sunday. Stuff starts at 1 p.m, with the feature match at 3 p.m. The club is located east of Interstate 5, just south of where El Camino Real intersects with Via de la Valle. Call 481-9217 for information.

    The La Jolla YMCA has added Technogym equipment, a technologically advanced cardiovascular circuit training system. Within 15 days of Technogym's availability, more than 100 patrons had worked with Y staff on personalized 35-minute workout programs using the five pieces of cardiovascular equipment.

    "The most unique thing about the equipment is that we’re able to take a person who has never worked out before and a person who exercises seven days a week and serve the needs of both," says Rich Micelli, La Jolla YMCA associate executive director.

    As members move from station to station, they insert a computer programmed key that stores their personal workout program and records their Technogym progress. "Members are excited to use the Smartkey technology so they can see the results of their workout," says Micelli.

    The system also consistently keeps exercisers within their target heart rate zone. While this equipment is fairly new to San Diego, the Downtown YMCA introduced the Technogym system earlier this year and recently expanded it to include Smartkey-driven weight training equipment.

    Tourism in San Diego continues to rock. In May, hotel occupancy hit 70.5 percent, a 4.8 percent gain over May 1996, reports ConVis. Mission Valley especially felt the good news, with occupancy rising 12.5 percent to 72.8 percent. Hotel guests countywide paid an average of $86.66 a night for the privilege, an 8.4 percent increase. The 1.17 million visitors who came to San Diego in May spent $344.8 million, a 9.4 percent increase from a year ago. Port properties continue to rule, getting an average of $143.89 per night.