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January 18, 2002
Callaway Golf Co. reports a fourth quarter loss of $9.2 million on sales of $105.3 million, down from a profit of $4.6 million on $142 million in the same quarter last year.
For the year ended Dec. 31, the company reports a profit of $54.4 million on sales of $816 million, down from $81 million on $837 million.
"We remain the leader in the golf equipment business with impressive revenue and earnings numbers in a very tough year," says Ron Drapeau, chairman, president and CEO. "This was a significant accomplishment in a year where we faced a soft economy in major markets, poor weather during key months, an aggressive stand by the USGA against our very best driver, weakened foreign currencies, the disruption in consumer spending following Sept. 11th, and the most significant event in our company’s history: the loss of our founder. I am very pleased that during this time our management team has maintained our market- leading positions in the U.S. in woods, irons and putters, while launching two new golf ball lines — the CB1 and the CTU 30 balls — and improving our golf ball revenues by 62 percent. At the same time, our team put into place strategic initiatives that we expect will yield results in 2002 and future years, including apparel licenses in the U.S., Europe and Japan, and new golf club and golf ball products for 2002 and beyond."
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The Southwest Community Bank board has declared a five-for-four stock split of the company’s common stock to stockholders of record on Feb. 28 and payable March 15.
As of Dec. 31, Southwest had about 600,000 shares outstanding. Upon completion of the split, the number will increase to about 750,000 shares.
The bank says that the distribution of additional shares is subject to receipt of regulatory approval and the filing of an amendment to the company’s Articles of Incorporation.
The bank also announced plans to raise additional capital in the coming months to fund the continuing expansion of its banking franchise and data servicing company.
This is the bank's second stock split since opening for business in December 1997. President and CEO Frank J. Mercardante says, "The stock is being split in recognition of its superior price performance and the desire to make it attractive to a wider range of potential investors."
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Overland Data Inc. is reporting a second quarter profit of $2 million on revenue of $45.6 million, compared to $1.8 million on $43.6 million a year earlier.
For the six-month period ended Dec. 31, the company reports profit of $3 million on revenue of $85.6 million, compared with $3.2 million on $81.3 million in the first half of fiscal 2001.
"In this difficult economic environment, we are extremely pleased to report record financial results that exceed both our expectations for the quarter as well as the results we achieved during the more robust environment of the prior year,” says Christopher Calisi, president and CEO of Overland Data. “Our second-quarter results reflect the payoff of our focus on the mid-range tape automation market and widespread acceptance and demand for our Neo tape library systems, which are strategically positioned for a constrained economy. We introduced Neo in March 2001, and it has proved to be the most successful product launch in our company’s history. In the space of three quarters, Neo sales have gone from 0 to 43 percent of total revenues. Neo is considered by many to be the 'best-of-breed' in the mid-range tape storage segment based on its true modular field scalability and highly fault-tolerant design."
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Wells Fargo & Co. and Intuit Inc. have formed an exclusive agreement that will, for the first time, allow consumers to instantly open and fund an Individual Retirement Account from within Quicken TurboTax software and the Quicken TurboTax for the Internet.
Intuit’s TurboTax division is based in San Diego.
For 2001, consumers can reduce their taxable income up to $2,000 within a single tax year by establishing an IRA, while in 2002, the maximum contribution will be raised to $3,000.
Taxpayers can open and fund an IRA until April 15 and receive the full benefit on their 2001 tax return.
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San Diego-based MitoKor reports the signing of a scientific research collaboration agreement with the Buck Institute for Age Research of Novato and a technology transfer and option agreement with the University of Oregon at Eugene. These agreements are in addition to a collaborative agreement in place between MitoKor and UCSD.
Through these agreements, MitoKor has established relationships with world-renowned scientists to decipher the human mitochondrial proteome. Mitochondrial dysfunction is a major contributing factor in the pathophysiology of major diseases such as Alzheimer's and Parkinson's diseases and type 2 diabetes mellitus.
"By focusing on the mitochondrion we are able to effectively analyze a fundamental subsection of the total proteins in a cell," says Dr. Bradford W. Gibson, professor and director, Chemistry Core at The Buck Institute. "This subset provides an estimated 2,000 individual proteins, which can be analyzed effectively in order to identify protein-protein interactions and better understand protein function."
The collaboration with the Buck Institute is aimed at isolating, sequencing, and identifying proteins present in the mitochondria of normal human tissue. Scientists at MitoKor and the Buck Institute will use their expertise and proprietary rights in mass spectroscopic analysis of protein sequences to analyze mitochondrial samples.
The University of Oregon has provided MitoKor with technology and materials to aid in the research, including separation technologies and monoclonal antibodies developed by Dr. Roderick Capaldi and his coworkers at the University.
The large volume of data derived from the collaboration will be managed and analyzed at MitoKor, with the goal of obtaining an annotated human mitochondrial proteome database that can form the basis for future comparative studies employing mitochondria from diseased tissues.
Scientists at the University of California and the San Diego Super Computing Center will collaborate with MitoKor in the bioinformatics aspects of the work to establish processes of annotation and organization of the information compiled during the mitochondrial proteome project.
"Only approximately 10 percent to 20 percent of the human mitochondrial proteome has so far been characterized to any significant degree," says Dr. Neil Howell, v.p. of research at MitoKor. "By initially obtaining a detailed map of the normal human mitochondrial proteome we will have a powerful discovery tool to identify biologically relevant targets and diagnostic markers of diseases known to be associated with mitochondrial dysfunction."
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The state of Baden-Wurttemberg, in cooperation with the San Diego World Trade Center, presents the next biomixer, "Opening the Doors to Biotech and Biomed Industries in Germany, from 5:30 to 7 p.m. Feb. 12 at the Hilton Torrey Pines.
Opportunities exist for U.S. biotech and biomed companies in the European marketplace this discussion will address how Baden-Wurttemberg could facilitate local companies entry into the market.
There is no registration fee, but an RSVP is required by Feb. 8. Parking is $7.
For information, contact Alexandra Wong at (619) 615-0868, Ext. 109 or e-mail achat@sdwtc.org.
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BRE Commercial/NAI of San Diego has expanded its consulting services to include the recently formed BRE Asset Management Services.
BRE Asset Management Services will provide comprehensive management services on office, industrial and retail properties throughout San Diego County.
Bill Punch has joined the firm's San Diego office as managing director of BRE Asset Management Services. Punch is a 25-year veteran of the commercial real estate industry. Previously he spent 15 years with CB Richard Ellis as a senior real estate manager.
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A variety of key San Diego building and real estate industry firms have announced a partnership with HomeAid America — a nationwide provider of shelter beds for the temporarily homeless - to establish the HomeAid San Diego Chapter.
The San Diego HomeAid chapter is chartering with the San Diego chapter of the National Association of Industrial and Office Properties.
Carlene Matchniff, HomeAid San Diego Chapter Co-president and director of development for Pardee Homes, says the new chapter will allow several San Diego companies the opportunity to make a difference in their community.
"HomeAid gives each of our respective companies the chance to make a valuable and lasting contribution to those who are not as fortunate," Matchniff says. "By combining our collective talents, we can fulfill our mission of building or renovating shelters for temporarily homeless men, women and children and give them the skills they need to achieve self-sufficiency."
Other founding members include Craig Fukuyama, The Fukuyama Co.; Barbara Hunter, Union Bank of California; Eric Jones, Prudential; Barbara Nagel, Marketscape Research & Consulting; Colin Seid, ColRich Communities; Larry Smith, William Lyon Co.; Melissa Trunnell, Luce Forward; Mike Verbeck, Ernst & Young; Barbara Warden, Winfirst; and Alan Ziegaus, Southwest Strategies.
Other companies participating in the San Diego Chapter include Countrywide Mortgage, First American Title, Wells Fargo and Insco Dico.
Pardee Homes has stepped forward as builder captain for a project slated to begin this year.
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The San Diego Housing Commission is encouraging San Diego city residents to attend upcoming public hearings to help decide how to best invest millions in federal housing and economic development grants.
The hearings will be held to solicit community feedback for a draft of “The City of San Diego Annual Consolidated Action Plan." The document — a five-year strategic plan revised each year of its 2001-2005 timeframe — identifies community development needs and recommended solutions. It also proposes how to allocate more than $30 million in federal funding.
The federal funding sources are: Community Development Block Grants, HOME Investment Partnerships funds, Emergency Shelter Grants, and Housing Opportunities for Persons with AIDS grants.
As of Feb. 19, copies of the draft plan will be available in the reference sections of city libraries, at City Community Service Centers, and on the Housing Commission's web site, www.sdhc.net. For information, call (619) 578-7539.
Meetings and hearings will be held:
• San Ysidro Planning & Development Group - 5:30 p.m. Feb. 19 at 4350 Otay Mesa Road, San Ysidro School District Education Center.
• City Heights Area Planning Committee - 6:30 p.m. March 4 at 4310 Landis Street, Mid-City Community Police Facility.
• Southeast San Diego Development Committee - 7 p.m. March 11 at 841 S. 41st Street, Neighborhood House Association.
• Greater North Park Planning Committee - 5:30 p.m. March 19 at 2901 N. Park Way, North Park Christian Fellowship.
• Linda Vista Community Planning Committee - 7 p.m. March 25 at 2160 Ulric Street, Linda Vista Library.
• Community Planners Committee - 7 p.m. March 26 at 202 C Street, 12th Floor, City Council Committee Room.
• Citizens Review Committee - 1:30 p.m. March 29 at 202 C Street, 12th Floor, City Council Committee Room.
• Planning Commission - 9 a.m. April 4 at 202 C Street, 12th Floor, City Council Chambers.
• San Diego Housing Commission - 9 a.m. April 12 at 202 C Street, 12th Floor, City Council Chambers.
• City of San Diego Council Land Use & Housing Committee - 2 p.m. April 17, 202 C St., 12th Floor.
• San Diego City Council - testimony on proposed CDBG "bricks and mortar" projects - 11 a.m. April 23, 202 C Street, 12th Floor.
• San Diego City Council - testimony on proposed CDBG social service programs - 11 a.m. April 30, 202 C Street, 12th Floor.
• San Diego City Council - 2 p.m. May 6, 202 C Street, 12th floor
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The San Diego HIV Funding Collaborative, an advocacy and fund-raising group of private foundations and community members, has awarded $214,500 in grants to a number of local nonprofit HIV/AIDS service providers for fiscal year 2002.
Through SDHFC's Youth Prevention and Education Initiative, $50,000 was awarded to two grantees: Family Health Centers of San Diego for its Youth Drop-In Center; and Reclaimed Hope for its Let's Talk HIV program.
An additional 12 grants totaling $164,500 were made possible through coordinated funding with AIDS WALK San Diego.
SDHFC raised $264,500 in 2001 through a challenge grant from the Elton John AIDS Foundation, a community partnership with the National AIDS Fund, and support from local private donors. In addition to its announced grants, SDHFC also has set aside $50,000 to address program specific technical assistance or emergency assistance.
A complete listing of all grants awarded by SDHFC fiscal year 2002 follows:
The SDHFC Youth Prevention and Education Initiative focuses on at-risk minority youth by funding programs offering HIV/AIDS prevention strategies and education services. Family Health Centers of San Diego's Youth Drop-In Center was awarded $25,000 for its Project ART program in Logan Heights.
Reclaimed Hope received $25,000 for its second year of Let's Talk HIV, a prevention and education program in southeast San Diego geared to African-American youth ages nine to 14, and their parents/guardians.
Grants offered through SDHFC with AIDS WALK San Diego included the following 12 programs:
• Asian Pacific Islander Community AIDS Project, $10,000 to provide individual, group and community interventions to HIV-positive men.
• Bi-National AIDS Advocacy Project, $5,800 to provide education services to residents along the border region.
• Camp Laurel, $15,000 to send 15 San Diego youth to the Teen Adventure wilderness camping program.
• Christie's Place, $7,500 to support bilingual and bicultural services to families impacted and living with HIV/AIDS.
• Family Health Centers of San Diego,$20,000 for the Teen Mobile Outreach Clinic.
• Horn of Africa Community, $18,290 to provide HIV/AIDS outreach, education and prevention services to African refugees from the Ethiopian, Somalian, Ertirean and Sudanese communities in City Heights.
• Lesbian, Gay, Bisexual, Transgender Senior Health Needs Assessment Project,$14,890 to gage the needs of the LGBT senior community and the needs of gay and mainstream service providers who serve this community.
• Operation Samahan Inc., $15,000 for its Youth-to-Youth Project, which trains junior and senior high school students in HIV/AIDS education and prevention for at-risk youth ages 12 to 19 living in the South Bay.
• San Diego Harm Reduction Center, $20,000 for its HIV prevention program for injection drug users, their partners and families.
• San Ysidro Health Center,$18,500 for the CASA (coordinated assistance services advocacy) Prevention for Positive's program targeting HIV-positive Latino men in the South Bay area of San Diego.
• Something Special Food Pantry, $5,000 in order to expand its food bank for low-income persons living with HIV/AIDS.
• Vista Community Clinic, $14,520 for the Alma Latina project targeting monolingual and bilingual Latino/Latinas living in the North county area.
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The Inamori Foundation in Japan and the University of San Diego will bring together the laureates of the 2001 Kyoto Prizes, including citizens of the United States, the United Kingdom, Austria, Russia and Japan, for a symposium at the university's new Joan Kroc Institute for Peace and Justice, Feb. 6-8.
This inaugural Kyoto Laureate Symposium will mark the first time that laureates of the Kyoto Prizes have convened outside of Japan. The three-day agenda features addresses by the laureates, responses by scholars in each laureate's field, and panel discussions relating the laureates' work to the improvement of society and the pursuit of peace.
Recognized among the world's leading awards for lifetime achievement, the Kyoto Prizes are presented annually by the nonprofit Inamori Foundation to recognize people worldwide who have contributed significantly to the scientific, cultural and spiritual development of mankind.
“Today, we are rushing ahead with incredible scientific and technological achievements, while understanding of our emotional and psychological development lags deplorably," says Dr. Kazuo Inamori, founder of the Inamori Foundation and chairman emeritus of Kyocera Corp. "It is my hope that the Kyoto Prizes will encourage balanced development of both our scientific and our spiritual sides, and hence provide new impetus toward the structuring of new philosophical paradigms."
"The University of San Diego is honored to welcome the Inamori Foundation and the Kyoto Prize laureates," says Dr. Alice B. Hayes, the university's president. "Like Dr. Inamori, we strive to combine intellectual advancement with social responsibility. We see the Kyoto Prizes and the Joan Kroc Institute for Peace and Justice as a perfect match."
The 2001 Kyoto Prize laureates in Advanced Technology are Dr. Zhores Ivanovich Alferov of Russia, Dr. Izuo Hayashi of Japan, and Dr. Morton B. Panish of the United States. Putting political ideologies aside, the unlikely trio made pioneering contributions to the advancement of opto-electronics with their achievement of the continuous operation of semiconductor lasers at room temperature.
The 2001 Kyoto Prize laureate in Basic Sciences is Professor John Maynard Smith of the United Kingdom. Maynard Smith established a unified understanding of fundamental issues in evolutionary biology through his proposal of the "evolutionarily stable strategy" employing game theory. In short, he concluded that the selfish behavior of groups produces a social relationship in equilibrium.
For Arts and Philosophy is Gyorgy Ligeti, a composer from Austria. This master of modern music has enchanted people the world over with his unique musical style. A Hungarian-born survivor of the Holocaust, Ligeti established his reputation with "Apparitions," a piece that features his original tone cluster technique.
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The Scripps Health board has elected Janet Rodgers as its chair for the term that began Jan 1.
Rodgers, dean of the University of San Diego's Hahn School of Nursing and Health Science, is the first woman and first nurse to take the helm at Scripps.
"It is a privilege and an honor," says Rodgers, who has served on the board the past three years.
As a nurse, Rodgers believes she has brought a different perspective to the board and as chair will continue to emphasize that perspective.
"Nurses have frequently been described as the glue that holds the hospital together,” she says. “We would not have hospitals if we didn’t have a need for nursing care," Rodgers says. "Nurses play an extremely important role in patient care because, from a holistic view, they see all the patient's needs."
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The Sandical 2002 Stamp Expo is set for Feb. 1-3 in the Activity Center of Del Mar Fair Grounds. Admission is free.
Sandical's hours are 10 a.m. to 6 p.m. on Friday and Saturday, and 10 a.m. to 4 p.m. on Sunday.
The United States, Mexico and United Nations Post Office will have booths at the expo, selling their current and recent stamps, booklets and postal stationery at face value. Sandical is the only U.S. stamp show at which the Mexico post office has a booth.
The expo offers exhibits, free appraisals for stamp collections, and free stamps for beginning collectors at the busy Youth Booth. A large number of U.S. and worldwide collections will be offered at substantial discounts from catalog values.
For more information, write to Sandical Stamp Expo 2002, Box 4417, San Diego, CA 92164, or call Chairwoman Linda Mabin at 619-582-9311; or e-mail Jay Tell at jtell1@san.rr.com.
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Carbite Golf of San Diego will be the "Sponsoring Putter" of the Buick Invitational PGA Tour event at Torrey Pines to be held on Feb. 7-10.
"As a local San Diego company, Carbite is excited to work with the Century Club at the PGA tour event in our own backyard," says Andy Robertson, Carbite executive v.p.
Carbite will be highly visible the entire event week at Torrey Pines with its famous "Yipless" putting robot and demonstrations of its wedge and putter products taking place at the Torrey Pines practice green. Carbite also will be giving away its popular "Brass Balls" hat signifying the launch of the revolutionary Brass Balls insert featured in most of the company’s putters.
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UCSD Extension, Business and Professional Development Program will present its annual Land-Use Law and Legislative Update from 8:30 a.m. to 12:30 p.m. Jan. 25, at its Sorrento Mesa UCSD Extension campus, 6925 Lusk Blvd. (in the AT&T Wireless building).
The seminar will focus on all the legal (statutory, judicial and administrative) and legislative changes that took effect on Jan. 1 that affect land use, real estate development, the environmental review process and planning. It will also focus on federal, state and local jurisdiction's regulatory changes that involve land-use planning including general and specific plans and implementation of CEQA; endangered species act; zoning and subdivision law and permit streamlining.
Presenters, Anthony J. Lettieri and Scott C. Smith have more than 50 yearsÕ experience in urban development and planning, real estate and redevelopment law.
The State Bar of California has approved this seminar for continuing legal education credit in the amount of 4 hours.
For registration and information, contact Jill Berner at (858) 882-8011 or e-mail gberner@ucsd.edu.
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