Daily Business Report — Dec. 9, 2010
College Chancellor to Get Presidential Nomination
Constance M. Carroll, chancellor of the San Diego Community College District since 2004, is to be nominated by President Obama to serve on the National Council on the Humanities. Carroll served as president of three community colleges in California and worked with two universities before she became chancellor. Her board service has included the American Council on Education, American Association of Community Colleges, the League for Innovation, California Council for the Humanities, Maine Humanities Council, the NEH Panel on Museums and Historical Societies and the Community College Humanities Association. Carroll received her bachelor’s degree in humanities from Duquesne University and a master’s degree and Ph.D. in classics from the University of Pittsburgh.
Cubic’s Acquisition of Abraxas Clears Federal Regulators
Cubic Corp. has received regulatory approval to acquire Abraxas Corp. of Virginia. The company said it received word from the U.S. Department of Justice and Federal Trade Commission expressing no objection to its agreement and plan of merger with Abraxas. This clears the way for Cubic to acquire the privately held national security and cyber security company. Cubic first announced it had signed an agreement to acquire Abraxas on Nov. 15. Under the terms of the agreement, Abraxas will maintain its name and become a wholly owned subsidiary in Cubic’s Mission Support Services segment. The acquisition is expected to close later this month.
Cartridge World Opens in Downtown San Diego
A Cartridge World store, part of a chain of ink and toner replacement retailers, held its grand opening celebration on Wednesday at 240 Broadway in Downtown San Diego. The franchise is owned and operated by James Kim. The store recycles, refills and remanufactures empty ink and laser cartridges used in desktop and office printers, all-in-one machines, fax machines and photocopiers. It offers businesses and consumers a savings (up to 30 percent off) to buying new, and provides a 90-day, 100 percent customer satisfaction on every print cartridge, with the added green advantage of keeping spent cartridges out of the landfills, according to Kim. “Cartridge World Downtown San Diego carries ink for all major cartridge brands in stock so there is no need to wait,” said Kim. “We don’t simply ‘drill and fill’ like other refillers. We inspect and test each empty cartridge, completely flush and clean to remove all the old and dried ink, then we fill our cartridges in a vacuum with ink that is specific for each cartridge. Our inks are formulated to match the originals required for each brand name cartridge and we thoroughly print test each cartridge to ensure the best performance possible.” Cartridge World also offers free pick up and delivery to businesses in Downtown, and can deliver cartridges to its customers within minutes in case of a printing emergency. The store phone is (619) 238-0952 and the Website is cartridgeworlddowntownsd.com.
Westcore Properties Sells El Cajon Retail Center
Main Street Plaza, a 79,797-square-foot retail center at 198 West Main Street in downtown El Cajon, has been sold by Westcore Properties for $17,875,000. The buyer is RS Partner LP, which plans to hold the property as an investment. In the transaction, Westcore Properties, was represented by Mike Moser, Gleb Lvovich, Todd Goodman, Phil Voorhees, Preston Fetrow and Kirk Brummer of CB Richard Ellis. The buyer represented itself. The retail center is fully leased, with tenants that include Ross Dress For Less and 24 Hour Fitness. Main Street Plaza was acquired by Westcore Properties in 2009 and underwent a series of improvements, including a modern façade, newly paved parking lot, new roof and HVAC units.
Escondido Business Park Sold
State Place Business Park, a four-building multi-tenant property at 300-398 State Place in Escondido, has been sold for $5.2 million to a local limited liability company. The seller was a limited liability company. Marcus & Millichap’s Newport Beach office marketed the property on behalf of the seller. At the time of the sale, the buildings were more than 90 percent leased.
Four Nonprofits Receive Funds to Help Families
Four San Diego nonprofit organizations have been awarded a total of $505,000 by the Local Initiatives Support Corp. to open and expand Financial Opportunity Centers to help low- and moderate-income families. Funding for the grants came from the Obama Administration’s Social Innovation Fund, created to help solve social challenges by investing in community-based resources. The grant-winning organizations are: International Rescue Committee – $135,000; San Diego Housing Commission – $135,000; North County Lifeline – $135,000; and HomeStart – $100,000. Financial Opportunity Centers bundle financial counseling, employment placement and career advancement services to help working families increase their incomes and raise their standards of living.
Luce Forward Attorneys Elected as Partners
Amy Giannamore and Aaron Winn, attorneys in the San Diego office of Luce, Forward, Hamilton & Scripps, have been elected partners of the firm, effective Jan. 1. Giannamore practices in the real estate securities and finance group. She represents real estate sponsors across the country. Giannamore earned her law degree from the University of San Diego School of Law and a bachelor’s degree from the University of New Hampshire. Winn is a member of the firm’s business and intellectual property litigation practice group. His practice focuses primarily on complex business litigation, class actions, intellectual property litigation and appellate work. He earned both his law degree and bachelor’s degree from Brigham Young University.
SCORE San Diego Small Business Workshops
SCORE San Diego continues its series of low-cost workshops in December.
Workshop fees range from $29 to $109, depending on the program. To register, visit score-sandiego.org.
• Dec. 10 – Internet Marketing 202: E-mail Strategy – 9 a.m. to noon Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Dec. 11 – 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).
• Dec. 13 – Buying and Selling a Business – 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 $69, $79 at the door).
• Dec. 14 – How to Start and Manage Your Own Business – Carlsbad – 9 a.m. to 4:15 p.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
• Dec. 14 – Business Basics 101 – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; FREE! Please pre-register).
• Dec. 15 – Business Plan 201: How to Write a 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).
• Dec. 16 – Financing Your Business – Carlsbad – 9:30 a.m. to noon at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door).
• Dec. 17 – Internet Marketing 303: Social Media – 9 a.m. to noon at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Dec. 18 – Financial Statements – 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).
• Dec. 20 – Business Plan 201: How to Write a Business Plan – Carlsbad – 9 a.m. to 3:30 p.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $99, $109 at the door).
For more information regarding SCORE San Diego’s workshop series and locations, call (619) 557-7272.
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.