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September 9, 1998
The South County Partnership, a consortium of five residential developers, reports that new home sales in the area€s master planned communities are up in the first six months of 1998 compared to the same period a year earlier.
Using data collected by Market Profiles, the Partnership — EastLake Greens, Otay Ranch, Rancho del Rey, Rolling Hills Ranch and Sunbow — report new home sales hitting 714, compared to 576 in the first six months of 1997.
³If this pace continues, the number of homes sold by the end of this year could surpass the 1,400 mark,² says Liz Jackson, senior v.p. and division manager for Pacific Bay Homes.
Leading in sales is Rancho del Rey, where 447 homes sold in the first half of 1998. EastLake greens sold 115 homes to place second. Otay Ranch starts pre-selling its first homes this month. Rolling Hills just premiered its first neighborhoods while the second phase of Sunbow also just opened.
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Quidel, a leading developer and manufacturer of medical diagnostic kits, is undergoing senior management changes.
New to the company is Charles Bowden, who joins as chief medical officer and v.p. of technology and business development. Bowden has more than 15 years of operational and consulting experience in the health care industry and will lead Quidel's efforts in acquiring new products and technologies. He completed specialty training as a pediatrician.
On the way out are Steven Burke, v.p. of finance and administration; Darryll Getzlaff, v.p. of human resources; and Glenn Holmes, v.p. of marketing and sales. In a statement, Quidel says it expect to work out consulting arrangements with each to ensure a smooth transition.
Timothy Hoogheem, previously v.p. of finance and administration at Somatogen Inc., in Boulder, Col., will temporarily act as CFO while Quidel searches for a full-time replacement. He will oversee finance, administration, investor relations, information technology, and human resources.
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September 7, 1998
An August decline of 1.3 percent in San Diego retail sales, combined with weak overall West Coast sales, helped temper strong sales in the Southeast and Midwest regions, resulting in a national retail same-store sales gain of 2.8 percent over August 1997. The data was reported by TeleCheck Services Inc., the world's leading check acceptance company. The TeleCheck Retail Index is based on a year-over- year, same-store comparison of the dollar volume of checks written by consumers at more than 27,000 of TeleCheck's 200,000 subscribing locations.
Elsewhere in the West, sales were up 0.5 percent in Los Angeles, down 1.7 percent in San Francisco and up 3.3 percent in Phoenix.
"Same-store retail sales grew at a moderate pace as consumers began their back-to-school shopping, with sales in line with the slower growth of the economy. The national number was dampened by weak West Coast sales, which may reflect the continued impact of the Asian crisis," says William Ford, TeleCheck's senior economic advisor.
The Southeast region led the nation, followed by the Midwest, Southwest, Mid-Atlantic, the Northeast and the West. Sales in the Southeast jumped 5.3 percent. Florida's sales climbed 6.1 percent, The Carolinas' rose 5.8 percent, Louisiana's gained 5.3 percent, Tennessee's grew 3.8 percent and Georgia's increased 1.9 percent. Sales rose 6.2 percent in Tampa, 3.2 percent in Miami/Ft. Lauderdale, 2.1 percent in Orlando and 2.7 percent in New Orleans. Memphis' sales grew 2.9 percent, Nashville's gained 1.6 percent and Atlanta's increased 4.8 percent.
The West's sales were up 0.6 percent. Colorado's sales climbed 6.3 percent, Hawaii's grew 2.8 percent and Arizona's increased 0.6 percent. Sales dropped 0.5 percent in California, 4.7 percent in Washington and 4.9 percent in Oregon. Sales climbed 6.3 percent in Denver and 3.3 percent in Phoenix. Los Angeles's sales dropped 0.5 percent, San Diego’s were down 1.3 percent and the Bay Area fell 1.7 percent. Seattle's sales fell 7.0 percent and Portland's fell 8.4 percent.
TeleCheck's index is compiled on a calendar basis and is based on the total sales volume of check-writing consumers at a broad cross-section of retailers. Figures are not adjusted for inflation. Checks account for about 37 percent of retail spending. In 1997, TeleCheck authorized over $98.3 billion in checks and processed more than 1.9 billion check inquiries.
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ViaSat has added Ret. Adm. William Arthur Owens to its board. Prior to retiring from the Navy, Owens served as vice chairman of the Joint Chiefs of Staff, the second highest ranking military office in the United States.
Beginning in 1996, Owens served as president of SAIC. During his tenure as president, SAIC acquired Bellcore, which had been the research arm of the regional Bell operating companies. SAIC anticipates 1998 sales of $4.3 billion with 33,000 employees operating in 12 countries. In August Owens joined Teledesic as vice chairman of the board, and as CEO of Teledesic Holdings, an investment affiliate. Teledesic is building a global, broadband, satellite-based "Internet-in-the-Sky."
"We are very delighted and honored to have Adm. Owens join our board," says Mark Dankberg, CEO and chairman of ViaSat. "He has truly global perspectives and insights that can benefit both our defense and commercial businesses. Adm. Owens has an excellent grasp of the role of communications technology in the context of a rapidly evolving world environment."
"I’m very happy to be joining the ViaSat board," says Adm. Owens. "The company is clearly on the leading edge of many important military satellite communication technologies which also have direct relevance to the commercial market. These areas have the promise to contribute significantly to the way we think about smart warfare and smart commercial communications. I’m pleased to be a part of their efforts."
Adm. Owens fills a new position on the board, which currently consists of James F. Bunker, Dr. Robert Johnson, B. Allen Lay, Dr. Jeffrey Nash and Dankberg.
ViaSat designs, produces and markets advanced digital satellite telecommunications and wireless signal processing equipment for government and commercial markets. Products include information security devices, tactical communication radios, and communication simulators. Corporate headquarters are located in Carlsbad with a branch office in Boston.
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Air Methods Corp. has added an eighth twin-engine helicopter to subsidiary Mercy Air Service Inc.'s operations in Southern California. The new aircraft will be based in El Cajon and will enable Mercy Air to strengthen its presence in a market that Air Methods says is underserved by emergency air medical services.
With this addition, Mercy becomes the only air medical service provider in Southern California certified to respond to an emergency request under instrument meteorological conditions. The BK117-B2 deployed in San Diego is one of a very select number of helicopters equipped for single-pilot IMC operations.
"The addition of this aircraft in San Diego allows Mercy to realize competitive advantages that otherwise would not have been available,² says David Dolstein, president and CEO of Mercy Air. 'Our ability to meet the demand in San Diego gives Mercy the opportunity to operate at higher volumes and increase revenues. This addition reinforces our corporate strategy of expanding into contiguous markets where we can leverage core competencies, create operating efficiencies and expand service levels for local communities."
Founded in 1989, Mercy Air services Las Vegas and the entire Southern California market with eight, twin-engine helicopters responding 7 days per week, 24 hours per day in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Imperial, Kern, Ventura, Santa Barbara counties and Clark county, Nevada.
Air Methods Corp. is a leading provider in the $1 billion market for aeromedical services. The Flight Services Division is one of the largest providers of air medical transport outsource services for hospital systems around the country. The Mercy Air subsidiary is one of the largest independent providers of air medical services. The Company's fleet of owned, leased or maintained aircraft features 39 helicopters and five fixed wing aircraft.
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September 2, 1998
Ford Investment Enterprises Corp., a subsidiary of the Ford Motor Co., and a San Diego dealer yesterday launched the San Diego Auto Collection — the nation's second Ford Retail Network.
"We are extremely pleased to bring this new concept in automotive retailing to the San Diego area," says Ross Roberts, president of FIECo. "This move promises to give our customers the highest level of satisfaction when they are buying or servicing their vehicles, and will help our dealers to better face-off with our real competition as we move into the 21st century."
CEO for the San Diego Auto Collection is Ed Witt, who is partnering with FIECo in the venture. Witt, formerly a Ford dealer in Wisconsin, will manage day-to-day operations.
The San Diego Auto Collection involves Lincoln Mercury dealerships at Mission Valley and Escondido as well as the market area once covered by three additional San Diego Lincoln Mercury dealerships. Following Tulsa — which was launched on July 1 — it is the second of several Ford Retail Network projects slated for launch in coming months in a number of U.S. cities.
While the San Diego venture will involve Lincoln Mercury dealerships only, the Ford Retail Network concept provides the opportunity for other local Ford, Lincoln, Mercury, Mazda and Jaguar dealers to collectively establish single business entities in partnership with FIECo. The new company combines the resources, inventories and the employee talents of all the dealerships involved — which ultimately benefits car and truck customers.
"Our new approach to selling cars and trucks will include unique sales and service outlets supplemented by neighborhood service centers providing competitively-priced service to customers," Roberts says. "The sales centers will feature a large selection of both new and preowned vehicles, no-haggle selling, salaried sales consultants, and a state-of-the- art website that will permit customers to search the inventory from their home computer. Both new and used vehicles will be covered with a money-back guarantee.
San Diego Auto Collection will employ about 120 people and generate sales volumes in excess of $70 million during its first year of operation.
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The San Diego Padres are in store for a little extra national exposure. Superstation WGN has decided to televise the team€s baseball games Sept. 14 and Sept. 15 against the Chicago Cubs. The Cubs are in the hunt for a playoff position, may play the Padres, and, of course, feature Sammy Sosa who, along with Mark McGwire, is on track to break the home run record of 61 in a season.
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Roel Construction Co. has just completed the concrete garage and begun framing on the Little Italy Family Housing development. The $6.1 million project is being developed by Barone Galasso and Associates Inc. and is part of an extensive community rehabilitation project designed to revitalize the Little Italy neighborhood Downtown. Completion is set for February.
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Sierra Systems is contracting with the San Diego Data Processing Corp. to build and install a new Criminal Record Management System for the San Diego Police Department.
The value of the contract is about $3 million for professional services. The 18 month contract started Sept. 1.
This contract is a part of the continued growth of Sierra's Justice practice, and will lead to the opening of a new branch in San Diego headed by Jim Cox.
Sierra Systems Group Inc. is an information technology management consulting and systems integration company with 12 offices in Canada and the United States.
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August 31, 1998
Named as co-chairs for the finance committee of the Citizens for Redeveloped Neighborhoods and A Ballpark for San Diego (Yes on Prop. C) are Ted Roth and Don Ings.
Roth is president and COO of Alliance Pharmaceutical Corp. Ings is president of Solar Turbines Inc. and v.p. of Caterpillar Inc.
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Visitors to San Diego in the fiscal year ended June 30 paid hotel taxes totaling $107.3 million, a 15.7 percent increase from the $92.8 million in fiscal 1997. The city of San Diego generated the largest amount of hotel taxes, 78 percent, or a total of $84 million. The city€s hotel tax revenue was up 13.8 percent from the $74 million it collected in the 1997 fiscal year.
Reint Reinders, ConVis president, is quick to point out that all of the growth has come without an increase in the hotel tax by any of the 18 municipalities that collect the fee.
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The Titan Corp., with Cap Gemini America LLC as a subcontractor, has been awarded a contract from the state of Wyoming to provide Year 2000 (Y2K) Services for all computer systems statewide. The contract includes two initial phases (Phases I and II) with an approximate valuation of $1.3 million, and a phase three (Phase III) option valued at $32.8 million.
Titan's subsidiary, Titan Software Systems of Colorado Springs, is the prime contractor for the project. In addition to program management responsibilities, Titan Software will use its Y2K facilities in Colorado Springs and Tampa, FL to perform assessment and remediation of mid- range, desktop, and selected mainframe applications. Project activity for this contract will encompass 31 million lines of code.
During Phase I and Phase II, Titan will perform an inventory and assessment of all of the state's information systems using its "Titan 2000" methodology to perform contract services. Concurrent activity on Phases I and II is expected to begin in August 1998 and conclude in October 1998. Phase III involves remediating applications through renovation and testing.
"Titan is providing a high quality, cost effective Y2K solution to the state of Wyoming" says Gene Ray, president and CEO of Titan. "The combination of Titan's 'Year 2000' program management and client- server remediation expertise and Cap Gemini's expertise in mainframe remediation is a strong force, which will be influential in preparing Wyoming for the new millennium. We look forward to teaming with Cap Gemini in future engagements."
Wyoming Gov. Geringer says, "As a truly forward-thinking technological state, we want to make sure all of our systems are in place and ready to go well ahead of the 'magic' date. Titan's proven Y2K skills in similar projects made them the optimal candidate to assist the state of Wyoming in putting any potential Y2K problems well behind us."
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August 28, 1998
Sempra Energy International has been was awarded a 10-year agreement by the Mexican Federal Electric Commission to supply natural gas to the Presidente Juarez power plant in Rosarito, Baja California.
The historic decision calls for Sempra to provide a complete energy supply package for the power plant. The contract includes provisions for delivery of up to 300 million cubic feet per day of natural gas, transportation services in the United States and construction of a 23-mile pipeline from the U.S.-Mexico border to the plant. In today’s dollars, the value of the 10-year gas supply contract could approach $1 billion.
Delivery of natural gas is expected to begin in December 1999, enabling the CFE to serve up to 1,500 megawatts of new gas-fired generation at the Presidente Juarez power plant. The expansion of the plant will help meet rapidly growing energy demand from Baja California's booming manufacturing sector, and mirrors a national trend as Mexico moves to boost its installed electric generation capacity by nearly 35 percent over the next six years.
"We are pleased to deliver this kind of integrated energy solution to help the CFE meet the rising energy needs of Baja California's businesses and residents," says Stephen Baum, vice chairman, president and COO of Sempra Energy, who also serves as acting president of Sempra Energy International. "We are uniquely qualified — by our international expertise and geography — to be a major player in the Baja California energy market. This project is a first for us, in that it combines the strengths of several Sempra Energy companies, bundling the construction of a major transmission pipeline by one subsidiary with another subsidiary's long-term supply contract for a high volume of U.S. natural gas."
The pipeline and interconnection at the U.S.-Mexico border also represent the initial step in making natural gas available for the first time to businesses and residents in Tijuana and nearby cities. The Mexican Energy Regulatory Commission has announced future plans to open bidding on a natural gas distribution system to serve the cities of Tijuana, Tecate and Ensenada.
The Presidente Juarez supply contract is a significant milestone in the growth of our international gas trading business," says Steve Prince, CEO of Sempra Energy Trading, the energy commodity trading unit of Sempra Energy that will purchase the gas to be delivered by Sempra Energy International. "Our extensive trading network and our experience handling financial risk-management contracts for Mexican customers make us a logical choice for providing the CFE plant with a stable, long-term gas supply."
Sempra Energy International already is part of a consortium that last year brought natural gas to Baja California for the first time. The consortium operates natural gas distribution systems in Mexicali and Chihuahua, Mexico.
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Manpower Inc. is forecasting limited job hiring prospects for San Diego County throughout the upcoming fourth quarter. This information is contained in the quarterly Employment Outlook Survey, which also lists statistics for 13 other Southern California communities.
Among local companies responding to the survey, 8 percent say they will increase their work force this fall, 2 percent of respondents will reduce personnel and the other 90 percent will remain stable.
"Year-end staffing is influenced by a mix of seasonal factors, with retail gearing up for the holidays, but other industries slowing down," says Phil Blair, president of Manpower San Diego. "The outlook held a little more promise three months ago."
Back then, 10 percent planned to raise their payrolls, and none intended to reduce them. Last year at this time, 18 percent predicted adding to their workforce, while 5 percent expected less hiring.
The best employment prospects this fall are seen in durable and non-durable goods manufacturing, wholesale/retail trade and public administration who plan to change or maintain the size of their workforce during the fourth quarter.
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A computerized benefits enrollment system developed by XyberNet Inc. in San Diego has helped Del Taco, the second largest Mexican/American fast food chain in the nation, to reduce by 12 percent the time spent managing its health plan.
In late 1996, Del Taco became electronically linked to its health plan through HealthFare, a computerized benefits enrollment systems developed by XyberNet. The system, developed as a secure private network with information passed by dial-up modem, streamlines health plan enrollments as well as ongoing membership maintenance requests. HealthFare also includes on-line provider directories, descriptions of covered services, a full suite of management reports, and other features designed to increase administrative efficiencies.
After more than one year using HealthFare, Del Taco's HR Manager Charmaine Smith reports significant savings. These savings include a 33 percent reduction in the billing reconciliation process, a 10 percent reduction in the number of calls to Smith regarding benefit questions, and a 12 percent overall reduction in Smith's time managing the health benefit plan.
"Through HealthFare, we no longer have to wait for information previously delivered through a paper-based delivery system," says Smith, who explains HealthFare's built-in date sensitive reporting capabilities allow her to keep track of employee eligibility dates and enrollment status. Having this information at my fingertips truly saves me time," she states.
The system, which operates through internal corporate networks or the Internet, may reside exclusively within the human resources department or may be rolled down to the employee desktop.
"With additional details about our benefit plans, networks, and product options, as well as on-line wellness and corporate specific documentation ultimately made on-line, Del Taco employees will have more opportunity to make informed assessments about their health plans," states Smith. "In today’s competitive market, where employees need immediate access to information, this is a true value-added proposition from our health plan," Smith states.
HealthFare, a division of San Diego-based XyberNET, is the leader in computerized benefits enrollment systems. Through electronic commerce, HealthFare is redefining client service. Its clients include Blue Cross of California, Blue Cross Blue Shield of Vermont, and Canada Life Assurance Co. Inc. For more information visit HealthFare's Web site at www.HealthFare.com.
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August 27, 1998
Home prices continue to soar. Both the median home price and sales of existing homes in California hit their highest levels on record in July, report the California Association of Realtors and Transamerica Intellitech's MetroScan service.
Sales posted a 20.3 percent increase and the median home price in the state was up 11.1 percent compared to the same period a year ago. In San Diego, the median price of a home was $215,600, up 0.6 percent from June and 12.2 percent from July 1997. Sales activity remained the same as June, but was up 12.5 percent from July 1997.
"July represents a significant moment in the history of the California housing market," says C.A.R. President Tim Corliss. "Both home resales and the median home price have passed their historic peaks."
Closed escrow sales of existing, single-family detached homes in California totaled 677,110 in July at a seasonally-adjusted annualized rate. Statewide home resale activity was up 20.3 percent from the 562,760 sales pace recorded in July 1997. Resale activity posted an increase of 8.1 percent in July 1998 compared to June 1998.
The statewide sales figure represents what the total number of homes sold during 1998 would be if sales maintained the July pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The median price of an existing, single-family detached home in California during July 1998 rose to $211,780, an 11.1 percent increase over the $190,630 median for July 1997. The July 1998 median price was up 1 percent compared to June 1998. C.A.R., in conjunction with MetroScan service, report that more than three-quarters of California cities and communities showed an increase in their respective median home prices from a year ago.
How long prices can continue to rise at this pace is now a topic of discussion in real estate circles.
"In light of the Asian crisis and its potential impact on the California economy, these sales levels may be difficult to sustain," says Leslie Appleton-Young, C.A.R.'s v.p. and chief economist. "However, ongoing demand should remain strong enough to support continued price increases."
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Qualcomm has signed a contract with Shyam Telelink Limited to supply a turnkey cdmaOne wireless local loop network to the Rajasthan region of India. Shyam is licensed to deploy an 800 MHz CDMA system to provide much-needed telephone services to the region, where many customers are waiting for telephone service. Under the terms, Qualcomm will supply up to $45 million of CDMA infrastructure equipment, wireless telephones and deployment services.
"It is a landmark opportunity for Qualcomm to participate in Shyam Telelink's project to increase teledensity and improve telecommunications for Rajasthan's 51 million people," says Marshall Towe Jr., v.p. for Qualcomm's wireless infrastructure division. "We share Telelink's vision of accessible, high-quality, reliable and secure communications for each city, town and village in the region, and we look forward to working with Telelink's engineering teams to ensure a rapid and efficient network deployment."
Deployment of the network is expected to begin in the fourth quarter of 1998 in the city of Jaipur, with expansion into surrounding towns and villages expected shortly thereafter. The network is expected to serve over 23 urban areas within the first year of operation and to offer a combination of fixed and limited mobility services to subscribers.
"We selected Qualcomm deploy our CDMA network not only because they have already successfully demonstrated their CDMA WLL capabilities in India, but also because of their advanced CDMA products, technical expertise and deployment experience around the world," say Rajiv Mehrotra, chairman of Shyam Telelink Ltd. "With CDMA, we will be able to provide wireline-quality telephone service to even the most remote areas of Rajasthan."
"In a region where significant subscriber growth is expected as soon as wireless telephone services become available, a CDMA network from the leading wireless local loop vendor — Qualcomm — is the best choice for Telelink to meet capacity and quality requirements," says B.A. Majmudar, president of Qualcomm's wireless infrastructure operations in India.
Qualcomm will provide Shyam Telelink Limited with its 800 MHz QCell base stations, QCore switching and base station controller equipment, and wireless local loop telephones. The system will be designed using Qualcomm's network planning software tool, QEDesign. Qualcomm also will provide a range of deployment services, including installation, commissioning and optimization.
Qualcomm supplied and installed the first CDMAWLL network in India, a commercial system that has been serving New Delhi customers since May 1997.
Shyam Telelink Limited was incorporated in 1995 for the purpose of establishing and operating basic telephone services in India and was promoted by Shyam Telecom Limited.
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August 26, 1998
The $205 million in bonds for expanding the San Diego Convention Center, which will be issued by the Convention Center Expansion Authority, are rated 'AA-' by Fitch IBCA. The bonds will be sold on or about Sept. 1 by a syndicate led by Merrill Lynch & Co. In addition, Fitch IBCA's 'AA+' rating on San Diego’s $77.6 million in outstanding general obligation debt is affirmed.
The bonds are secured by lease payments from the city of San Diego for use of the convention center expansion upon completion. During construction, the bonds are secured by lease payments for the existing convention center. The rating reflects the facility's importance to the city and the strong support for the project, as well as San Diego’s strong credit quality. Fitch IBCA's 'AA+' general obligation bond rating is based on San Diego’s economic health including a positive near-term outlook for continued growth, low debt burden and sound financial position. The authority is a joint-powers authority formed by the city and the San Diego Unified Port District.
Bond proceeds will finance construction of an 860,000 square foot addition to the existing convention center, nearly doubling its size. While a maximum price contract has not been signed, the city has contingencies and other protections against costs exceeding the $184 million currently budgeted.
San Diego will contribute $5.2 million to reconfigure streets leading to the center's entrance. In addition, $9.5 million in city revenue will be held in reserve for debt service. Lease rental payments will come from the city's general fund, which gained financial flexibility when the hotel tax was increased by 1.5 percent in 1994.
Litigation surrounding this financing ended recently when the California Supreme Court validated the transaction. The decision becomes final on Sept. 8, and the bond sale will not close prior to this date.
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Your Office USA, a fast-growing national business center network that’s based in San Diego, has sold the area franchise development rights for Wisconsin, most of Florida, and northern Virginia, says Tom Galloway, CEO. The investors are expected to open Your Office franchises in Milwaukee, Wis., Tampa-St. Petersburg, Fla. and McClean, Va. this fall and seek out franchisees to build and operate additional centers as quickly as possible in the three states, according to Galloway.
The area franchise rights cover all of Wisconsin and all but the Southeastern portion of Florida. The Virginia territory sold includes Arlington and Fairfax Counties and the city of Alexandria. Over the next five years the investors project 40 Your Office USA franchises will open in Florida, 17 in Wisconsin, and 10 in northern Virginia.
Your Office USA franchises provide business-support for home-based and virtual office workers, small business owners, reps on the road, service professionals and business executives, field representatives and large and small start-up companies. Services include office and meeting space, video conferencing, secretarial services, business addresses, private phone/fax numbers, phone answering patched to the home, voice mail and use of computers.
Your Office was founded in Germany in 1991 and operates in 40 countries. The parent company, also headquartered in San Diego, plans to have 500 franchises worldwide by the year 2000. One hundred franchises are planned for the U.S. within the next two years.
The Wisconsin/Florida investment group, called ELK IV LLC, includes Marvin and Craig Cooper, father and son, who founded H.H. West Co., a $100-million Milwaukee office supply company, and Milton H. Kuyers, CEO of GMK Companies Inc., also based in Milwaukee.
The group includes G.E. "Russ" Russell of Collierville, Tenn., an experienced hospitality franchiser, and Robert de Jong, a Milwaukee attorney. The northern Virginia investor is Terence Lindsey, a computer systems engineer, formerly with the National Association of Broadcasters. For further check out www.youroffice.com.
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August 25, 1998
PriceSmart Inc. is selling to San Diego headquartered Affinity Development Group its Auto Referral Program, effective Nov. 1. The price was not disclosed. Through a strategic alliance, PriceSmart will continue to own and manage the domestic auto referral program through Oct. 31, 1999.
Costco members will continued to be served by PriceSmart referral program through Oct. 31, 1999. "We have a strong dealer based network in the United States that will be enhanced as a result of our alliance with ADG," says Gil Partida, president and CEO. "We will capitalize on every opportunity to provide better and more exciting values for Costco members and ADG's national customer base." The referral program offers members a low-price, "no hassle" alternative for buying a new car. PriceSmart has established relationships with about 1,600 new car dealerships in the United States.
Affinity Development Group is a developer of lifestyle based membership clubs for publishers, including Petersen Publishing, which has over 120 magazines including. "The PriceSmart Auto Referral Program will complement the benefits package we are developing for the Petersen titles," says Jeff Skeen, Affinity's CEO. "The information provided by Motor Trend and the other automotive titles in the Petersen stable influence a significant amount of automotive sales. The PriceSmart alliance and access to an established national dealer network will help us deliver monetary savings, convenience and valuable information to our subscribers and create better values for Costco members."
PriceSmart is a volume-driven merchandise and services provider, delivering quality, value and low prices to the rapidly emerging consumer class in Latin America and Asia. PriceSmart licenses international membership shopping warehouses, located in Saipan, Beijing, Panama and Guatemala. The company also operates a domestic Travel Program offering discounts on travel and vacation related services.
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Gen-Probe Inc. say it has, for the second time, won a lawsuit challenging ownership of its technologies for detecting disease-causing organisms using genetic probes targeting ribosomal RNA. In the lawsuit, filed in 1993, the Center for Neurologic Study alleged that Dr. David Kohne, the inventor, had made his discovery while employed by CNS.
Seven of eight claims asserted by CNS against Gen-Probe were dismissed before trial. In a special trial last December on the statute of limitations, a jury found that CNS had waited too long to file one of its claims against Kohne. On July 17, Superior Court Judge David Danielsen applied the jury's verdict to bar CNS's only remaining claim against Gen-Probe and judgment was entered on Aug. 20 in favor of Gen-Probe and Kohne.
The CNS lawsuit was the second case challenging ownership of the patents. The prior case, brought by the University of California, was resolved in Gen-Probe's favor by a jury trial in June 1996. Both the CNS and UC claims were financed by Amoco Technology Co., which, Gen-Probe says, wanted to obtain rights in the patents. Gen-Probe has filed a separate malicious prosecution suit against Amoco Corp. and Amoco Technology Co. seeking to recover the expense of defending the UC lawsuit. Gen-Probe has also filed a separate suit for patent infringement against Amoco and its former subsidiary Vysis, which went public in February. Vysis had rights to obtain an exclusive license to the patents in the event that CNS prevailed.
"Amoco induced both the University of California and CNS to file these meritless suits, after many years of inaction, by the promise of financial gain at no cost or risk to either plaintiff," says Henry Nordhoff, president and CEO of Gen-Probe. "The litigation has been expensive and time-consuming. We believe that Amoco was sure that we would settle, to Gen-Probe's economic disadvantage, rather than protect our rights in court. However, we remained confident that we would ultimately prevail."
Gen-Probe is a leader in the development, manufacture and commercialization of diagnostic products based on its patented genetic probe technologies. The company has received 40 FDA clearances for genetic probe tests to detect a wide range of microorganisms, and is currently completing a $7.7 million contract from the National Heart, Lung and Blood Institute, which is an arm of the National Institutes of Health, to develop a screening program for both hepatitis C (HCV) and human immunodeficiency virus (HIV) using amplification of nucleic acid sequences. The company recently announced a strategic alliance with Chiron Corp. to develop, manufacture and market nucleic acid probe assay systems for blood screening and certain areas of diagnostics.
Gen-Probe is one of the few profitable biotechnology companies and recorded worldwide sales of $93.6 million in 1997. With 519 employees, it is one of the largest biotechnology firms in San Diego.
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August 24, 1998
The world continues to take note of UCSD, most recently with the university being named by U.S. News and World Report as the sixth best public university in the United States. Last year the school ranked seventh.
The ranking appears in the magazine's 12th annual edition of America's Best Colleges. The guide rated 1,400 schools, designating 50 as best among the public national universities where UCSD ranked sixth, and 50 as best among the largest and best known national universities, where UCSD ranked 32, up one position from last year.
Of the 50 state-supported universities, UCSD trailed UC Berkeley and the University of Virginia, which tied for first; the University of North Carolina-Chapel Hill, third; and UCLA and the University of Michigan-Ann Arbor, tied for fourth. (Because of the ties, no second or fifth place rankings were given.)
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Logicon Inc., has won an indefinite delivery/indefinite quantity contract with a maximum value of $24 million from the Space and Naval Warfare Systems Center. The work will be performed in San Diego and completed in two years.
Under the contract, Logicon will provide engineering and technical support services to improve submarine and satellite communications systems for Navy and joint Defense Department programs in the 21st century. These systems improvements will be accomplished under the open architecture theory, which provides the doctrinal, technological and organizational infrastructure to conduct modern tactical warfare at sea and will be instrumental in achieving a cohesive joint C4I (command, control, communications, computers and intelligence) structure.
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The Nordstrom in Fashion Valley has completed its expansion, adding 70,000 square feet of shopping space, giving it a total of 220,000 square feet. It opened this weekend, along with 1,000 new parking spaces. That's where everyone was.
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August 21, 1998
AirTouch Cellular came out on top in an independent study of San Diego’s wireless telecommunications carriers. The netScan study, conducted by Emerald Bay Systems Inc., ranked AirTouch at the top of two out of three network performance categories that were evaluated.
Emerald Bay, an independent research company, purchased phones from wireless carriers in San Diego, then drove throughout the area placing nearly 9,000 calls divided equally among the different carriers' systems. Six systems were evaluated: AirTouch's digital and analog networks, GTE's digital and analog networks, and Pacific Bell's and Sprint's digital networks.
In the first network performance category, Network Access Performance, AirTouch's digital service ranked at the top and AirTouch's analog service was in the No. 2 spot. GTE analog was third. Network Access measures coverage and call blocking. AirTouch's digital service uses CDMA, a technology developed by San Diego-based Qualcomm.
The second of the main categories evaluated was Call Retention Performance. This measured how well a call connects on the first attempt and holds through the conversation. AirTouch's digital service again grabbed the No. 1 post, and AirTouch's analog service was No. 2. Pacific Bell was third.
In the third and final category, Good Call Performance, Pacific Bell was first, AirTouch digital second and GTE analog third. This was evaluated by transmitting pre-recorded speech and then comparing the received sentences with the transmitted speech templates.
AirTouch says that independent surveys reveal that it serves more subscribers in San Diego and California than any other carrier.
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Finding the myriad of code lines that contain problem areas for the Year 2000 (Y2K) phenomena is one of the first steps in correcting the situation. Now a San Diego company, Acucorp Inc., says it has a solution.
Acucorp has released LegacyAid, an advanced Year 2000 code remediation and maintenance tool designed for COBOL applications. LegacyAid's Year 2000 Wizard helps companies identify and fix millennium date problems, reducing the time and effort COBOL programmers will need to solve their Y2K problem. LegacyAid automatically locates dates in existing systems, allowing programmers to analyze the scope of the conversion and implement required changes. LegacyAid's analysis and documentation capabilities also make it a complete COBOL reengineering solution, allowing programmers to improve performance of their existing applications.
Legacy Aid's editing tools help programmers search existing source code — from individual programs to the largest enterprise systems — and easily make desired code changes, including support of double-byte characters. LegacyAid handles systems consisting of millions of lines of code by identifying and flagging dates determined by the search criteria, examining analysis results and determining how date information moves through the system. LegacyAid then generates analysis reports and can make code changes either one-by-one or with batch processing.
LegacyAid is a distributed system running either under a client/server environment or on the Desktop, with the Windows 95 or Windows NT operating system. Price is determined on a per-user basis. Typical pricing for a three-user setup starts at $8,200 for IBM Mainframe (MVS) COBOL-II and $7,500 for UNIX/NT-based COBOL. For more information on Acucorp's products and services, contact Acucorp at 800-262-6585 or 619-689-4500, or visit its Web site at www.acucorp.com.
Founded in 1988, Acucorp, is a privately held company headquartered in San Diego, with additional offices in Germany, Sweden, the Netherlands and England. Acucorp's products are distributed in more than 70 countries throughout the world. With more than 1 million end-users, Acucorp provides technology for developing open systems COBOL applications. Customers include Chrysler, GE Capital, McDonald's, Shell Oil Co., Tower Records, the U.S. Air Force, and Warner/Elektra/Atlantic.
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Interventional Technologies, a developer of high-technology microsurgical and drug delivery products for interventional cardiologists, has been granted the "registered firm" status under the ISO 9001 standard for design and manufacturing quality systems.
The certification applies to the company’s operations in both San Diego and Murietta; its operations in Ireland had been certified earlier in the year. Robert Reiss is company chairman and CEO.
Interventional Technologies develops engineering solutions for treating cardiovascular disease. The company markets the TEC thrombectomy system to remove plaque and thrombus (blood clots) from diseased arteries, the Trackwire family of guide wires, and the Cutting Balloon microsurgical dilatation system. Other products in various stages of clinical trials include the Infiltrator and Irradiator local drug and radiation delivery systems, the FullFlow non-balloon perfusion dilatation system, and the LP Stent low pressure stent system.
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August 20, 1998
The ties between the San Diego Chamber of Commerce and Gov. Pete Wilson have grown a little stronger. The latest link comes with the naming of Michael Magee as senior v.p. of public policy at the Chamber. Magee has worked with Wilson for nearly a decade, most recently as director of the governor's San Diego office. At the chamber he will report to Ben Haddad, chamber president, CEO and a former Wilson Cabinet secretary. Lee Grissom, who ran the chamber for more than a decade, is Wilson's Trade and Commerce Secretary.
Also joining the Chamber is Sandi Peterson s director of the Small Business Development Center. She replaces Hal Lefkowitz, who left the SBDC earlier this year. Peterson, a business consultant, has 16 years of business experience and in 1997 was honored by the U.S. Small Business Administration as "Women In Business Advocate of the Year."
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Luxury home values in California recorded strong gains in the second quarter of 1998, reports First Republic Prestige Home Index.
Luxury home values in the San Francisco Bay Area reached yet another new high, while Los Angeles and San Diego luxury home values increased to levels not seen in several years.
In San Diego, the average luxury home value moved past $1.1 million for the first time since 1993. The San Diego Index rose 6.1 percent during the second quarter of 1998 to an average value of $1,120,748.
San Diego luxury home values are up 8.4 percent during the first six months of 1998 and up 9.9 percent over a year ago.
"During the second quarter, San Diego also experienced the largest quarterly increase in the history of the Index," says Katherine August-deWilde, COO of First Republic. "Clearly most of the gain in value during the first half of this year and even the last 12 months came from the strong second quarter."
"The demand for luxury homes in the Rancho Santa Fe and Fairbanks Ranch area is unbelievable," reports Nic Lundborg of Dyson & Dyson in Del Mar. "Homes priced between $1.1-1.2 million are selling easily within a 10-day period. Homes from $1.5 million and up are taking anywhere from three to 14 days to sell. And for the first time, we are seeing home sales over $5 million."
Andrea Dougherty of Fairbanks Ranch Realty in Rancho Santa Fe concurs that "the market right now favors high-end homes, even those in the $2.5 million to $6 million range. Prices have appreciated so much that sellers have no difficulty putting their home on the market knowing they will be able to get more than their asking price."
San Francisco Leads
The average value of a Bay Area luxury home was a record $1,383,616, a 6.3 percent increase over the previous high of $1,301,132 set in the first quarter of 1998. The second quarter gain is the largest quarterly increase since the Index began tracking quarterly changes in luxury home values in 1995.
Los Angeles Improves
Continuing their steady recovery, Los Angeles luxury home values rose 3.7 percent in the second quarter to an average of $1,078,409 — the highest level since December 1995. Los Angeles luxury home values are up 4 percent during the first half of 1998 and up 9.3 percent over a year ago.
The First Republic Prestige Home Index tracks the value of homes worth $1 million-plus in San Francisco and Los Angeles and $750,000-plus in San Diego.
The Index is the combined product of First Republic Bank, the leader in luxury home financing in California, and Case Shiller Weiss Inc. of Cambridge, Mass., a pioneer of the repeat sales index and a recognized leader in tracking historical price trends of single-family homes.
The First Republic Prestige Home Index in each market is based on a portfolio of individually selected, single-family homes that have had their value traced back to 1985 using regression analysis. For each home in the portfolio, a market valuation was performed for each year taking into account repeat sales, comparable sales, and characteristics such as house size.
The process is similar to one real estate appraisers use; however, the Index formula has a substantially larger database of more homes over a longer period of time.
Portfolios contain the same homes in each time period. Each portfolio is carefully weighted and balanced for proportionate representation of all appropriate neighborhoods and home values and represents a statistically significant sample of prestige homes in each market. First Republic's indexes are updated quarterly.
- San Francisco Bay Area portfolio includes a cross-section of homes valued at $1 million or more located in the following communities: Alamo, Atherton, Belvedere, Danville, Healdsburg, Hillsborough, Lafayette, Los Altos, Los Gatos, Mill Valley, Moraga, Orinda, Palo Alto, Piedmont, Portola Valley, Ross, St. Helena, San Francisco, Saratoga, Sonoma, Tiburon and Woodside.
- Properties in the Los Angeles portfolio represent a cross-section of homes valued at $1 million plus in the greater Los Angeles metropolitan area. Communities in the portfolio are Arcadia, Beverly Hills, Calabasas, La Canada Flintridge, Encino, Los Angeles, Malibu, Marina del Rey, North Hollywood, Pacific Palisades, Pasadena, Playa del Rey, Santa Monica, Studio City and the West Los Angeles enclaves of Bel Air, Brentwood and Westwood.
- The San Diego Index portfolio represent a cross-section of homes valued at $750,000 plus in the following communities: Carlsbad, Coronado, Del Mar, Encinitas, La Jolla, La Mesa, Poway, Rancho Santa Fe, San Diego, and Solana Beach.
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An existing desalting in Oceanside will triple the amount of clean water it produces following approval by the Metropolitan Water District's board of two groundwater desalting projects in Southern California.
"The projects will help Southern California meet its goal to produce 500,000 acre-feet of recovered groundwater and recycled water annually by the year 2020, and decrease reliance on imported water from Northern California and the Colorado River," says John Wodraska, MWD's g.m.
The MWD board approved an agreement with the city of Oceanside and the San Diego County Water Authority to expand facilities in the Mission Basin. The project will increase from 2,000 acre-feet per year to 6,500, the amount of water recovered from the basin, located beneath Oceanside.
Up north a bit, the San Juan Basin desalter project partners Metropolitan with the Municipal Water District of Orange County, San Juan Basin Authority and Capistrano Valley Water District to recover up to 4,800 acre-feet of groundwater from the basin.
The San Juan Basin underlies the cities of Mission Viejo and San Juan Capistrano in south Orange County. (An acre-foot is nearly 326,000 gallons, roughly the amount of water used by two Southern California families in and around their homes for a year).
Both projects are a part of Metropolitan's groundwater recovery program initiated by the MWD board in 1991 to help improve Southern California's water supply reliability through the recovery of otherwise unusable groundwater degraded by minerals or other contaminants.
The program offers financial incentives for local agencies to develop groundwater recovery projects that maximize the use of local water resources.
"Offering financial incentives to locally owned groundwater recovery projects is not only cost effective for Metropolitan, but also is a prudent investment in regional supply reliability and water quality over the next 25 years," Wodraska said.
To be built on approximately three acres of land, the San Juan Basin Project calls for the construction of a 4 million-gallon-per-day reverse osmosis facility and pump stations in San Juan Capistrano by the year 2001. Nearly three miles of pipeline will collect and convey raw groundwater from five wells to the desalter facility for treatment.
In Oceanside, the Mission Basin expansion project will enlarge and improve the existing desalting facilities by adding three off-site wells and a 30-inch, 5,000-foot-long water line on Mission Avenue. The project is scheduled to be completed by the year 2000.
During reverse osmosis treatment, hydraulic pressure forces undrinkable brackish water through membranes to filter out salts. The processed water is blended and disinfected prior to delivery. Salts removed during treatment are concentrated into a brine solution that is released into the ocean.
Under Tuesday's actions Metropolitan will contribute about $1.2 million to the San Juan Basin project, and $200,000 to the expanded Mission Basin project.
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August 19, 1998
While Qualcomm was outbid last month in its attempt to win a wireless phone service contract in Brazil, the company is going ahead with plans to build and sell its digital telephones in Brazil, where buyers will use them on a system run by a separate company. Qualcomm do Brasil, S. A., a subsidiary of Qualcomm , is building the CDMA phone manufacturing plant in Sao Paulo, Brazil, with initial manufacturing capacity of about 300,000 phones per year.
The plant will be producing Qualcomm's CDMA digital dual-mode Q phone in September with shipments of the phones expected to begin in October.
"Our local manufacturing operation represents our strong commitment to Brazilian carriers and consumers to support their tremendous demand for high- quality wireless phones," says Marco Aurelio Rodrigues, president of Qualcomm do Brasil. "Serving one of the largest markets of wireless products in the world, Qualcomm do Brasil looks forward to accelerating its production ramp to meet the increasing requirements of carriers in Brazil who seek to offer the exceptional voice quality and performance of Qualcomm's CDMA digital technology and products to their customers."
Valerijonas Seivalos Jr., v.p., manufacturing operations of Qualcomm do Brasil says, "Qualcomm do Brasil is actively hiring a well- trained, highly motivated team of seasoned executives and a production staff with high-quality, high-volume manufacturing experience to ensure the greatest levels of manufacturing quality and output."
Qualcomm do Brasil, established in 1995, was formed to meet the growing wireless demands of the Brazilian market. Qualcomm do Brasil, working with Conexao, a wholly-owned subsidiary of Flextronics International Ltd., is expected to rapidly increase manufacturing capacity to meet the tremendous demand in the Brazilian marketplace. The factory will manufacture Qualcomm's Q phone series and the QCP phone series of CDMA digital mobile phones.
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A+Net, a San Diego-based provider of Internet services nationally, has become one of the first providers of Internet telephony, or Voice over IP (VoIP). Many predict, this revolutionary technology will change the way long distance calls are made and lead to significant savings to the consumers.
There are many software/hardware products on the market, which will allow for speech transfer over the Internet provided that both ends are equipped with computers, voice boards, software, etc. That makes them very impractical and unusable for the public.
A+Net offers completely different technology. To use it, both parties do not need a computer, a modem, or an Internet connection to place a call. An ordinary phone will suffice. The customer places the call much like he/she would place a calling card call. Call a local number, enter a personal identification number, or PIN, and the destination phone number.
The local number is linked to a machine, called a Gateway, which converts voice to digital data packets to be sent on the Internet. Another Gateway in the destination city, receives the call and dials up the phone number. Thus phone lines are only used locally, while the Internet transfers the call long distance. Here lies the savings — while phone companies keep track of distance, and charge accordingly, information on the Internet can travel to anywhere in the world, at no extra cost.
While perfectly suited for personal long distance calls, VoIP (www.abac.com/voice.html) also can be used in the business world. These services are available now to all A+Net customers in San Diego, New York, Alexandria, VA and Atlanta, GA. The introductory price is one cent per minute. The services are available to business customers nationwide.
A+Net provides the services by partnering with Ascend Communications and SouthNet TeleComm Services. The billing software is RODOPI by Intranet Software of San Diego (www.rodopi.com). A+Net is a division of privately-held ABACUS America Inc. in San Diego.
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Amylin Pharmaceuticals Inc. has initiated a Phase 1 clinical study of AC2993 (exendin-4), an investigational drug for type 2 diabetes. Exendin-4 was originally isolated from the salivary secretions of the Gila monster, a lizard that is native to the Arizona deserts. Now, a synthetic version of this peptide is being administered subcutaneously to normal human volunteers. This single-dose-escalation study, which is taking place in the United Kingdom, is designed to test the safety and tolerability of exendin-4.
Based on the results of this Phase 1 clinical trial, concept testing studies in patients with type 2 diabetes could begin in 1999.
"In late 1996, we acquired exclusive patent rights to two exendin molecules from their discoverer, John Eng, M.D. of Bronx, New York, and have expeditiously moved exendin-4 through research into early human testing," says Dr. Maurizio Denaro, Amylin's executive v.p. and chief technical officer. "Over 50 percent of the structure of exendin-4 is homologous to glucagon-like peptide-1 (GLP-1), a human hormone thought to be important in glucose metabolism. However, exendin-4 is pharmaceutically more attractive than GLP-1, one reason being its longer duration of biological action. Data that we have obtained so far from animal models supports the idea that exendin-4 may be a promising drug candidate for treating type 2 diabetes and related metabolic disorders such as obesity."
Type 2 diabetes is a complex disease typically characterized by elevated blood-glucose concentrations, insulin resistance and obesity. As the disease progresses, treatment often becomes ineffective and must be supplemented or replaced with insulin. The company believes that exendin-4 has the potential to be of therapeutic value across a wide scope of this disease. Currently, it is estimated that 15 million people in the United States suffer from type 2 diabetes.
"Initiation of this modest-cost Phase 1 study of exendin-4 is part of the company’s directed strategy to broaden its metabolic drug development activities beyond pramlintide," says Joseph Cook Jr., Amylin's chairman and CEO. "Pramlintide, a synthetic analogue of human amylin that was invented and patented by the company, is the subject of four ongoing Phase 3 clinical trials. We expect to report results from two of these studies in the fourth quarter of this year. We are currently in discussions with potential corporate partners who might aid in the development and commercialization of pramlintide and/or exendin-4."
Amylin Pharmaceuticals is focused on developing novel medicines for treating metabolic disorders. The company has pioneered research of the hormone amylin, which is believed to play an important role in metabolic control and is missing or deficient in millions of people with diabetes. The company is headquartered in San Diego and has European operations headquartered in Oxford, U.K.
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August 18, 1998
San Diego’s new economic slogan — "San Diego: Technology's Perfect Climate" — is being rolled out for the first time at an out-of-town career fair. Economic development officials with the San Diego Tech Force are using the slogan, and its related logo, to recruit employees at the Phoenix Westech Career Expo that began yesterday and runs through today.
Ten Tech Force companies are participating, including, Applied Micro Circuits Corp., Commquest, Fairchild Semiconductor, GDE Systems, Mitchell International, Pyxis Corp., Qualcomm, Science Applications International Corp., Sony and TV/COM.
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In the shadows of the Gaslamp Quarter and the East Village ballpark effort, Little Italy developers, merchants and residents have quietly improved their area. Now, looking to let more of the world know of what they've accomplished, the Little Italy Association is contracting with a design studio called deform to create for Little Italy a landmark reminiscent of the neighborhood signs found in Hillcrest, North Park and Normal Heights.
The Landmark Street Sign Design team consists of James and Andrew Lerits, owners of deform (yes, it’s a small "d,") and Michael Shane, mosaic artist. Deform is located in Little Italy.
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Orbcomm's growing fleet of Low Earth Orbit satellites — a dozen of the 26 planned are already flying — will depend on Gateway Earth Station modems to send and receive the packets of data it will distribute around the world. The modems are built exclusively by Torrey Communications of San Diego, which has just been awarded an $800,000 contract to keep 'em coming.
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August 17, 1998
In another effort to bring the Web into the daily life of working professionals, San Diego-based Z Co. is offering a free personal calendar and appointment system. Called Calendarz and available at http://calendarz.com, the service offers anyone with a Web browser an organizer to track meetings, appointments and to-do lists from a quick and easy to use Web site.
Calendarz provides users with many of the same features found in complex time management programs, but without requiring special software.
After logging on for the first time, a user answers a few questions and then has access to a free custom calendar. Popular dates such as birthdays, anniversaries, holidays and to-do lists can be entered all at once making getting started extremely simple.
Each calendar can be tailored to a user's personal taste. Day, week, month, and year layouts are selectable. Individual entries can be setup to be repeating, color coded, prioritized, stylized and linked to a specific url. Daily or weekly agendas can be printed out as hard copy supplements.
Because all data is kept on the Web, users can access their current calendar from home, office, Internet cafe, airport kiosk or the portable on the road.
Calendarz represents a joint venture between Z Co. and Cameron Consulting (www.cameronconsulting.com), a leader in Web based scheduling tools. "Cameron Consulting produces the finest Intranet scheduling program, so it makes sense to leverage that experience with our own efforts." says Michael Robertson, president of Z Co.
Z Co. runs a family of popular web sites including Filez.com, Websitez.com and MP3.com.
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Also finding an innovate use of the Web, is the appropriately-named Innovative Medical services. An interview by Stock Line with the company’s CEO, Michael Krall, is available via the Internet at Innovative's Website, www.imspure.com, or at Stock-Line's website, www.stock-line.com.
In the interview, Krall discusses Innovative Medical's fiscal year end (July 31) results and talks about the company’s new products and growth prospects for the future.
Based in El Cajon, Innovative manufactures and markets water purification, measuring, and dispensing equipment used in pharmacies to reconstitute oral antibiotic suspensions and residential drinking water filtration systems used in consumer markets. IMS also markets proprietary filters.
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Spy Express Inc., a records retrieval and database information services firm, has acquired Sorensen Investigations and its Accost debt collection service.
Also headquartered in San Diego, Accost is one of the area's largest professional collection agencies. Its primary office will be consolidated with Spy Express' Solana Beach office. David Raine, CEO of Spy Express, says the acquisition "gives Spy Express access to exciting new proprietary databases, and a talented management staff."
Through its computerized research and data retrieval network, trademarked as the arrin system, Spy Express provides personnel background investigations for corporations such as hotel chains and airlines, and taps into on-line resources to locate "missing persons" worldwide. "Adding debt collection to our list of services should prove to be very appealing to many of our 10,000 arrin system users," Raine says.
Ed Sorensen, head of Sorensen Investigations and developer of the Accost system, says the acquisition benefits his business as well. "Locating bad debtors and collecting bad debt is often a tedious process," he says. "With the arrin system in our arsenal, we have a new, quick-response tool that will save companies and individuals aggravation, time and energy."
Accost's primary services include an aggressive schedule of collection procedures, to posting derogatory credit and civil filings with major credit providers. Spy Express provides its network members and retail clients with access to information for background checks, asset locations, legal support, and other activities. The firm also retails a variety of video and electronic equipment used for security, surveillance, communication and monitoring.
Both firms are privately held. No financial information was released.
For previous Daily Business Reports, click here.
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