Daily Business Report — Oct. 27, 2009
Chamber talks small business with legislators
The San Diego Regional Chamber of Commerce will meet with Assemblyman Dan Logue, vice chairman of the Assembly Committee on Jobs, Economic Development and the Economy and members of the state legislative delegation on Oct. 30 for a discussion on how state regulations impact small business owners and what can be done to mitigate them. The meeting is from 10 a.m. to noon in the Chamber Board Room, 402 West Broadway, the 10th floor of the Westin Emerald Plaza Building. The delegation will hear from two panels of small business owners, with an opportunity for chamber members to testify following the discussion. The delegation includes Assembly members Mary Salas, Joel Anderson, Marty Block, Diane Harkey and Martin Garrick; Sen. Denise Moreno Ducheny; City Councilman Carl DeMaio; and county Supervisor Bill Horn.
A recent Cost of State Regulations on California’s Small Businesses study found that the state’s economy is crippled by overregulation of small businesses, costing $134,122.48 per small business in California in 2007.
Tenant improvements completed at The Mark
BASmith Design Associates of San Diego has completed the tenant improvement administration and conceptual design completion for the new sales center at The Mark. The tenant improvement in East Village included design, conceptual completion and construction administration in one of The Marks’ currently listed townhomes on Island Avenue. Design of the interior included new offices for the sales staff, conferencing and lending facilities, and a resident lounge. Brandon Smith acted as senior designer and project manager. Farzad Tadyon of T-Squared Engineering provided mechanical, electrical and plumbing engineering. Forza Construction of Valencia was contractor with Christian Deceuster and Josh Testa acting as project manager.
Seacost Commerce Bank reports third quarter results
Seacoast Commerce Bank in Chula Vista reported a record growth in assets for the third quarter ended Sept. 30 and a net loss for the same period. The bank reported assets topping $111.4 million for the third quarter of 2009, with growth of $36.4 million, or 48.6 percent, over Sept. 30, 2008. Deposits also reached a record high of $99.7 million, up $45.2 million, or 83 percent, over Sept. 30, 2008, with loans up $7.7 million to $68.3 million, or 12.8 percent over Sept. 30, 2008.
The bank reported a net loss of $1.6 million for the third quarter, compared to a net profit of $222,000 for the same period in 2008. The third quarter loss included several large, one-time, non-recurring items including a pre-payment penalty on the retirement of the bank’s borrowings with the Federal Home Loan Bank; a payment for the early termination of the bank’s Eastlake location lease; and the payment of an insurance deductible associated with the resolution of a litigation matter. The bank also set aside $1.1 million in its loan loss reserve to cover expected credit problems in the loan portfolio. During the quarter the bank also absorbed the start-up costs associated with its previously announced new Small Business Lending (SBA) and Religious Lending Divisions.
Fehr & Peers opens a San Diego office
Fehr & Peers, a Walnut Creek company that provides transportation planning and traffic engineering services to public and private companies and institutions, has opened a San Diego office with two new employees, Mark Peterson and Saul Kane, both of San Diego. Peterson joins Fehr & Peers with over 30 years of comprehensive transportation planning experience in a variety of capacities, including both public and private consulting management positions. Kane has over 14 years of experience in the area of traffic engineering design. This is the 13th office for Fehr & Peers, which began as a three-person company in Lafayette in the Bay Area.
Padres name Jed Hoyer as general manager
The San Diego Padres have named Jed Hoyer, former senior vice president and assistant general manager of the Boston Red Sox, as executive vice president/general manager for the Padres. CEO Jeff Moorad made the announcement. Hoyer, 35, joins the Padres as the eighth general manager in franchise history. He replaces Kevin Towers, who was fired after 15 seasons with the Padres.
ATK renews lease on industrial property
ATK Space Systems, a division of Alliant Techsystems Inc., has signed a five-year lease renewal on a 98,729 square-foot industrial property in San Diego. Randy LaChance and Todd Holley of Voit Real Estate Services were hired by Miramar Business Park LLC to represent them in the renewal of ATK Space System’s lease. ATK Space Systems occupied four industrial/manufacturing buildings totaling 98,729 square feet. The property is located at 9593 to 9669 Distribution Ave. Miramar Business Park is a 98,729-square-foot industrial park comprised of four buildings. Three of the buildings were completed in 1973 and the remaining one was delivered in 1984. Mike Christian of UGL Equis represented the lessee.
Four leases signed at Fountain Plaza
Four leases totaling 20,675 square feet with total consideration of $1,187,604 have been signed at Fountain Plaza, a four-building 85,353–square-foot office and corporate headquarters project located at 6042-6048 Cornerstone Court West in Sorrento Mesa.
• Sorrento Therapeutics leased 6,904 square feet at 6042 Cornerstone Court West for 60 months with total consideration of $418,174.
• Value Gene Inc. leased 2,619 square feet at 6042 Cornerstone Court West for 36 months with total consideration of $87,631.
• Accelagen Inc. leased 5,196 square feet at 6044 Cornerstone Court West. The 63-month lease is valued at $327,367.
• BPS Biosciences Inc. leased 5,956 square feet at 6044 Cornerstone Court West for 60 months with total consideration of $354,531.
Michael Alessio, Scott Kincaid and Tyler Gossett of CB Richard Ellis are the leasing team for Fountain Plaza. Brian Cooper of Jones Lang LaSalle represented Sorrento Therapeutics. Value Gene Inc. represented itself. Andy Irwin of CB Richard Ellis represented Accelagen Inc. BPS Biosciences represented itself.
Fountain Plaza is owned by Suntree Garden LLC with management provided by Trilar Property Management.
L-3 Communications Corp. has signed an $8,775,397 lease renewal for 123,442 square feet of office and R&D space at 10770 Wateridge Circle, Suite 100, in the Sorrento Mesa area of San Diego. L-3 Communications, a supplier of products and services used in aerospace and defense platforms, was represented by Matt Strockis of Cushman & Wakefield. The lessor, Metropolitan Life Insurance Co., was represented by Matt Nickels of CB Richard Ellis.
Two leases totaling $169,339 have been signed at Southrail Business Center, a 15-building industrial campus, which includes approximately 128,000 square feet of space in Chula Vista.
• Warren Pumps LLC, a rotary pump manufacturer, has signed a 36-month, $106,000 lease renewal at 693 Marsat Court, Suite B. Both the lessee and the lessor, Westcore Properties, represented themselves.
• Gerardo Cervantes, dba Aguas Frescas, has signed a 36-month, $63,339 lease for 1,950 square feet of industrial space in the project. The company, which manufactures and distributes refreshing Mexican beverage products, is moving from its current location at 1497 Jayken Way to 1548 Jayken Way, Suite A. In this transaction, both the lessee and Westcore Properties, were represented by Michael Mossmer of Voit Commercial.
General Atomics successfully fires prototype railgun
General Atomics Electromagnetic Systems division says it has successfully fire multiple rounds for the first time in a prototype of its new Blitzer electromagnetic railgun air defense prototype system. These tests were performed at the U.S. Army Dugway Proving Grounds under a contract with the Office of Naval Research. Testing is scheduled to continue through spring of 2010 and will culminate with the launch of tactically relevant aerodynamic rounds. Blitzer will provide transformational, leap-ahead air defense capability against a number of threats for both naval and land-based applications. GA said that, with a muzzle velocity of more than twice that of conventional systems, Blitzer provides significant increases in standoff and lethality at lower cost without the need for propellant or high explosives. “These tests are an important first step toward demonstrating the viability of a revolutionary technology that will significantly improve the safety and protection of our warfighters at sea and on land,” said GA Vice President R. Scott Forney III.
Federal Contracts Awarded
• Stoody Industrial & Welding Supply Inc., San Diego, won a $5,907,166 federal contract from the U.S. Naval Supply Systems Command, San Diego, for industrial bottled gases.
• Alturdyne Corp., El Cajon, won a $460,000 federal contract from the U.S. Air Force Materiel Command, Wright-Patterson Air Force Base, Ohio, for a portable turbine engine model.
• Remec Defense & Space Inc., San Diego, won a $193,775 federal contract from the Defense Logistics Agency’s Defense Supply Center, Columbus, Ohio, for radio frequency amplifiers.
• SAIC, San Diego, won a $152,448 federal contract from the U.S. Navy’s Space and Naval Warfare Systems Command, North Charleston, S.C., for Hewlett Packard Titanium blade servers and EVA Disk Subsystems.
• American Innotek Inc., Escondido, won a $54,816.50 federal contract from the Defense Logistics Agency’s Defense Supply Center, Philadelphia, for waste kit bags.
• Progressive Medical International, Vista, won a $32,094.63 federal contract from the U.S. Army’s Contracting Agency, Fort Richardson, Alaska, for medical equipment and supplies.
• BAE Systems National Security Solution, San Diego, won a $27,320 federal contract from the U.S. Air Force Materiel Command, Hill Air Force Base, Utah, for electrical and electronic equipment components.
• Stoody Industrial & Welding Supply Inc., San Diego, won a $5,907,166 federal contract from the U.S. Naval Supply Systems Command, San Diego, for industrial bottled gases.
(Source: Targeted News Service)
San Diego Advertising Club to study social media
The San Diego Advertising Club will present “Measuring the Power of Social Media,” a morning seminar on the next step in the evolution of social media, from 8 to 10 a.m. on Oct. 30 at the Courtyard by Marriott Hotel, 595 Hotel Circle South, in Mission Valley area. The public is invited to attend. The speaker will be Tamara Bousquet of MEA Digital, an analytics-focused social advertising and marketing agency with offices in San Diego and New York. Bousquet also will discuss balancing quantitative measures and qualitative insights, as well as how to apply solid marketing metrics to determine success or failure and examples of the latest measurement offerings with different social media platforms (Facebook, Twitter, etc.). Cost to attend is $35 for Ad Club members and $45 for nonmembers with reservations. For reservations, visit www.sandiegoadclub.com, or phone (619) 255-2281.
San Diego Air & Space Museum honors legends
The San Diego Air & Space Museum on Nov. 21 will honor national and international air and space legends at the 46th Hall of Fame Induction and Gala. Each honoree was slected for his or her historic contributions to aviation, space or aviation technology. The event will be in the Pavilion of Flight in the museum. For more information, call (619) 234-8291 or visit www.sandiegoairandspace.org.
The Class of 2009 to be honored are:
• Sally Ride, an American physicist and a former NASA astronaut who, in 1983, became the first American woman and youngest American (at the time) to enter space. Ride was one of 8,900 people to answer an advertisement in a newspaper seeking applicants for the space program.
• Sean Tucker, a native of Eagle Rock, earned his pilot’s certificate at age 17. He has been flying airshows worldwide since the mid-1970s and is considered one of the world’s premier airshow performers.
• Clay Lacy is the founder of Clay Lacy Aviation, one of the largest corporate jet providers in the country. Clay Lacy Aviation’s roots begin in the early 1960s when Clay Lacy and Bill Lear offered the first Learjet available in the Western United States. The Lacy Lear gained instant acceptance and notoriety with the high profile entertainment industry.
• Lockheed Brothers and Skunk Works Brothers Allan and Malcolm (who originally spelled their name Loughead) created a series of aviation companies that eventually led to the present day Lockheed Martin Aircraft Co. starting in 1912. Incantations of the company would produce some of the most famous aircraft ever to take to the skies, including the Vega, P-38 and Constellation.
• The Blue Angels are the United States Navy Flight Demonstration Squadron who performed their first flight demonstration in June 1946 at their home base, Naval Air Station in Jacksonville, Fla., flying the Grumman F6F Hellcat. Over the past several decades the Blues have flown several types of aircraft, including the Grumman F11F-1 Tiger and the McDonnell Douglas F-4J Phantom IIand the A-4F Skyhawk II.
• Cliff Robertson is a pilot, Academy Award and Emmy-Award-winning screen star as well as founder of the Cliff Robertson Work Experience. He has owned several de Havilland Tiger Moths, a Messerschmitt Bf 109 and a Supermarine Spitfire.
• Women Airforce Service Pilots (WASP) and the predecessor groups the Women’s Flying Training Detachment (WFTD) and the Women’s Auxiliary Ferrying Squadron (WAFS) were pioneering organizations of civilian female pilots employed to fly military aircraft under the direction of the United States Army Air Forces during World War II. The female pilots would number thousands, each freeing a male pilot for combat service.
• Frank Robinson is an engineer and the founder, president and CEO of Robinson Helicopter Co. of Torrance. He designed the Robinson R22 helicopter, a popular, light, two-place civilian aircraft in the early 1970s. The first production R22 was delivered in late 1979, and the R22 soon became the world’s top selling civil helicopter.
Small Business Workshops for November
SCORE San Diego continues its small business workshops in November. Fees range from $29 to $109 depending on the program. The schedule:
• Nov. 2 – Business Plan 101: How to Develop Your Best Competitive Advantage – Carlsbad – 9 a.m. to 3 p.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92009; pre-paid registration $79, $89 at the door).
• Nov. 3 – Financial Statements: What They Mean, How to Use Them – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• Nov. 4 – Internet Marketing 101: Use the Internet to Successfully Market Your Business – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Nov. 4 – Financing Your Business – 9:30 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• Nov. 5 – Marketing & Contracting with the Federal Government – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Nov. 6 – Legal Issues: Organizational Structure – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Nov. 7 – Business Plan 101: How to Develop Your Best Competitive Advantage – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $79, $89 at the door).
• Nov. 10 – Hiring and Managing Employees – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Nov. 12 – Import/Export Basics – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Nov. 13 – Women’s Networking Breakfast & Exhibits – 8 to 11 a.m. at Morgan Run Resort & Club (5690 Cancha de Golf, Rancho Santa Fe 92091; $35 pre-paid by Nov. 10, $45 thereafter).
• Nov. 13 – Internet Marketing 201: Build Your Business Through Search Engine Optimization – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Nov. 14 – Quickbooks Advanced – 9 a.m. to 4 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Nov. 16 – Business Plan 201: How to Write a Winning Business Plan – Carlsbad – 9 a.m. to 3:30 p.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92009; pre-paid registration $99, $109 at the door).
• Nov. 17 – How to Start and Manage Your Own Business – 9 a.m. to 4:15 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Nov. 18 – Quickbooks Basic – 9 a.m. to 4 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Nov. 21 – Business Plan 201: How to Write a Winning Business Plan – 9 a.m. to 3:30 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $99, $109 at the door).
• Nov. 24 – Professional Selling: Increase Your Business Sales Now! – 9 a.m. to 4 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
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