Daily Business Report — April 21, 2010
40 Under 40 Nominations
Nominations are now open for San Diego Metropolitan Magazine’s 11th annual 40 Under 40 awards. The nomination period ends May 31. The honorees will be feted at our annual luncheon on Sept. 9 at the San Diego Convention Center and profiled in the September issue of the magazine. Visit http://sandiegometro.com/40under40/ for a nomination form.
Foreclosure Proceedings Drop in First Quarter
Lending institutions started formal foreclosure proceedings on fewer San Diego County homes last quarter, compared to the same period of 2009. It is unclear how much of the drop can be attributed to shifts in market conditions, and how much is because of changing policies, according to San Diego-based MDA DataQuick. A total of 6,170 Notices of Default were recorded at the county recorder’s office during the January-to-March period. That was down 39 percent from 10,111 for the first quarter of 2009.
Statewide, a total of 81,054 Notices of Default were recorded in the first quarter of this year, down 4.2 percent from 84,568 for the prior quarter, and down 40.2 percent from 135,431 in first-quarter 2009.
The year-ago number is the highest in DataQuick’s statistics, which go back to 1992 for NODs. The quarterly average is 44,041, while the low of recent years was 12,417 in third-quarter 2004, when housing market annual appreciation rates were around 20 percent.
“Several factors are at play here and it’s hard to know how they play into each other right now,” said John Walsh, DataQuick president. “A year-and-a-half ago the subprime loan mess was the black hole. Now, playing catch-up, is the financial distress households are experiencing because of the recession. Add to the mix shifting policy decisions, both by lending institutions and in public policy. We are seeing signs that the worst may be over in the hard-hit entry-level markets, while problems are slowly spreading to more expensive neighborhoods. We’re also seeing some lenders become more accommodating to work-outs or short sales, while others appear to be getting stricter about delinquencies. It’s very noisy out there.”
The lenders that originated the most loans that went into default last quarter in California were Countrywide (7,282), World Savings (6,459), Washington Mutual (6,371), Wells Fargo (5,204) and Bank of America (3,851). These were also the most active lenders in the second half of 2006, and their default rates were well below 10 percent.
Suze Orman to Speak at Fundraiser
Suze Orman, celebrity personal finance expert, is slated to be the keynote speaker at the third annual “Your Best Year Ever” fundraiser on May 26 to benefit The Jenna Druck Foundation’s Young Women’s Leadership Program. This year’s “Luncheon with Suze Orman and Friends” will be held at the Hilton San Diego Bayfront Hotel. With “Women and Money” as the theme, the benefit is designed to inspire women to become leaders in their own lives, starting with their finances, and to raise money to support young women in San Diego County to do the same. Following her keynote address, Orman will lead a Q&A session with the audience, with Orman asking a select group of young women about how their awareness and attitudes about money have been influenced by the adults in their lives.
About 1,000 local women are expected to attend the event, including top women business and government leaders from the region as well as young women who are past recipients of the Spirit of Leadership Award. All of the proceeds will be donated to the Young Women’s Leadership Program to direct benefit thousands of young women leaders. To register, call (619) 294-8000.
Millennium Laboratories and UCSD Launch Research Program
Millennium Laboratories has established a joint research program with the UCSD Skaggs School of Pharmacy and Pharmaceutical Sciences. Millennium will provide the UCSD faculty and student researchers with recources for original studies in the areas of monitoring the metabolism of pain medications, drug testing and toxicology. The aim of the alliance is to advance research into the use of pain medications that helps to minimize the morbidity and mortality sometimes associated with their use. The program will be under the direction of Amadeo Pesce, co-director of Millennium Laboratories, and UCSD’s Brookie M. Best, assistant clinical professor of pharmacy and pediatrics, and Rabia S. Atayee, assistant clinical professor of pharmacy.
FDA Approves Clinical Trial for Stemedica Stem Cells
The U.S. Food and Drug Administration has approved a clinical trial for stroke using Stemedica Cell Tehnologies’ proprietary allogeneic stem cells. Nikolai Tankovich, Stemmedica’s president and chief medical officer, said the FDA action is an important milestone for the company in its development program. “Currently, patients suffering from ischemic stroke have very limited treatment options. We hope that bringing this novel option to the medical community will help to alleviate the burden of a serious and disabling disease and will be valuable for both patients and their family members,” said Tankovich. The FDA approval allows Stemedica to initiate a planned clinical trial at medical centers within the United States.
Ron Roberts Hosts Lawnmower Trade-In Event
For $99.99, San Diego County residents can help mow down air pollution with ultra-efficient lawn mowers acquired at County Supervisor Ron Roberts’ 11th annual Lawnmower Trade-In Event on May 1. Residents of county, including each of its 18 cities, can trade in their pollution-belching, gasoline-powered mower during this event for a top rated Black & Decker CMM 1200, 24-volt, cordless rechargeable lawn mower. Normally sold for $399 and priced in previous years at $150, this mower is available for the discounted price of $99.99, tax included. “That’s an even bigger savings than previous lawn mower events,” said Roberts. “The savings we negotiated with our supplier are being passed directly to the consumer. More importantly, people who use zero-emission electric mowers will be helping to improve San Diego County’s air quality, making it easier for everyone to breathe, especially our children, and protecting public health.”
During the past 10 years, nearly 4,500 polluting mowers have been exchanged, reducing smog-forming emissions by more than 15 tons per year. The average gasoline-powered lawn mower spews 40 times more pollution than a single, late model automobile.
The exchange process is simple. Starting at 8 a.m. on May 1 at the County Administration Center, 785 mowers will be offered on a first-come, first-served basis. Once in line, a place card is distributed to each person who is present with a working gas mower for trade-in. When the customer reaches the front of the line, he or she hands over the gas-guzzler and is given a voucher for a new rechargeable mower. Next, the consumer walks over to the register and purchases the new mower, which then loaded into their car. For more information, call (619) 531-5544 or visit ronroberts.com.
Evanco Realty Advisors Promotes Joanne Williams
Evanco Realty Advisors Inc. has promoted Joanne Rizza Williams to senior vice president -accounting. Williams has over 30 years of experience in the accounting field, earning her accounting degree from San Diego State. She has been with Evanco Realty Advisors for six years and is responsible for all aspects of accounting for commercial properties in excess of 1 million square feet.
Panel to Discuss 2010 Census
A panel discussion on the 2010 U.S. Census and San Diego’s population booms and busts will be held April 22 under sponsorship of the San Diego History Center. It will last from 6 to 7:30 p.m. at the San Diego History Center, Casa de Balboa, in Balboa Park. It is free. Panelists will be Hoa Quach, political editor of San Diego News Network, the moderator; Beth Jarosz, senior research analyst for SANDAG; Erik Bruvold, president and CEO of the National University Systems Institute for Policy Research; and Tait Galloway, senior planner for the city of San Diego Department of Planning & Community Investment. For more information, call (619) 232-6203 or visit sandiegohistory.org.
San Ysidro Clean-Up
The San Diego Redevelopment Agency, in partnership with Urban Corps of San Diego County and the San Ysidro Business Association, will host a volunteer community service event in San Ysidro on April 24 from 8:30 a.m. to noon. Council President Ben Hueso will address volunteers at 10 a.m. on the corner of West San Ysidro Boulevard and Smythe Avenue. This is the second “Green Street” volunteer event in San Ysidro and the seventh annual San Ysidro Community Clean-up hosted by the San Ysidro Business Association in conjunction with the Creek to Bay event. Volunteers are to meet at the Community Service Center at 663 East San Ysidro Blvd. Urban Corps staff, Business Association staff and dozens of youth corps members will be on-hand to coordinate volunteer service among area residents. In addition to the community clean-up, two home mini-facelifts will be performed — one on West San Ysidro Boulevard and the second on Beyer Boulevard. Thirty-four tree plantings are also planned along Smythe Avenue. Lunch for volunteers will be served at noon at the Community Service Center, courtesy of La Bodega Markets, Jennifer Goudeau, Raquel Moran and Tom Shultz of Subway.
Creek to Bay Cleanup
I Love A Clean San Diego is gearing up for its eighth annual Creek to Bay Cleanup, scheduled for April 24 from 9 a.m. to noon. The organization estimates that volunteers will remove close to 200,000 pounds of trash on Saturday, the weight of over 25 killer whales. Volunteers also will engage in storm drain stenciling, tree planting and other beautification activities at a handful of sites. Volunteers will receive a reusable water bottle, branded with the phrase “Green Starts Here.” Persons wishing to help out can visit the Website (creektobay.org) to view the full list of cleanup sites and register.
PHOTOGRAPHY WORKSHOP: San Diego Press Club hosts a panel of photojournalists to discuss new digital tools and share tips on taking compelling photos and videos. Panelists: Nancee Lewis, photojournalist; Sam Hodgson, former reporter-photographer for voiceofsandiego.org; and Joe Little, 10News Team reporter for ABC affiliate KGTV. 6 to 8 p.m., Essy’s Studio (adjacent to the Sports Arena). Free for Press Club members, $10 for nonmembers. For reservations, call (858) 274-6160 or e-mail to: email@example.com.
LUNCHEON: Joon Han, founder and strategy specialist with Better San Diego, to speak on “Getting Ahead by Giving Back” at the luncheon meeting of the National Association of Women Business Owners San Diego. 11:30 a.m. to 1:30 p.m., Sheraton La Jolla, 3299 Holiday Court, La Jolla. Early bird pricing for members and guests available through April 15. For more information and online registration, visit nawbo-sd.org.
WORKSHOP: Grossmont College Career Center will present “Job Interview Fitness,” a free workshop from 11 a.m. to 12:15 p.m. at the Career Center, Room 627, on campus. Topics: job interview tips, ethics and etiquette. Speakers: Nancy Davis, Grossmont College student development services supervisor, and Carole Martin of The Interview Coach. For more information or to reserve a seat, phone (619) 644-7614.
PROGRAM: The World Trade Center presents “Standards, Connections, Pathways and Problem Solving — the DNA of Lean,” featuring Samuel Obara of Honsha demonstrating why so many companies fail when trying to implement lean strategies. 7:30 to 9:30 a.m., World Trade Center conference room, Downtown. $35 for members, $45 for nonmembers. Walk-ins, $55. For information, call (619) 615-0868, Ext. 111. To register, visit wtcsd.org.
The Daily Business Report is produced by REP Publishing Inc., publisher of San Diego Metropolitan Magazine, the North Park News, Kensington News and the West Coast Craftsman. (619) 906-4104.