Daily Business Report — April 12, 2011
SD METRO is asking persons who have submitted nominations online for this year’s 40 Under 40 Awards to resubmit their nominations. A glitch in a software program resulted in the loss of some of the nominations. The form is on the Website at sandiegometro.com.
March Home Sales Rise 36 Percent Over February
March sales of properties in San Diego County increased 36 percent since February, according to the San Diego Association of Realtors. Sales of detached properties increased 36.1 percent while attached properties increased by 36.35 percent. Compared to March of 2010, detached home sales only increased by 0.29 percent; and sales of attached units were down by nearly 6 percent. Taking a look at the first quarter of 2011, sales did not outperform the same quarter in 2010. Sales of detached homes are down by 4 percent and sales of condos and townhomes are down by almost 9.5 percent compared to last year.
The overall median sales price in the county also increased 5 percent since February. The median sales price for detached properties increased 7.2 percent since February, while the price of attached properties increased by almost 3.5 percent. Median sales prices posted slightly lower numbers for the first quarter of this year when compared to 2010. The median price for detached homes is down only 1.33 percent, while for attached units decreased it decreased 4.65 percent.
“The March sales numbers are just what we hoped for and expected heading into spring,” says Bob Kevane, SDAR president. “There is a lot of very affordable inventory for buyers to choose from right now and median prices are still relatively stable. Interest rates are still historically low, but the future of mortgage loans is unclear. Federal regulators have proposed requiring high down payments which could lead to higher interest rates and fees. This would likely have a negative impact on the housing recovery by pricing many out of the market.”
Diversity Fellows Named by Fish & Richardson
Three law school students have been named Diversity Fellows by the Fish & Richardson law firm and will receive a $5,000 academic scholarship, mentoring by an attorney in the firm and a paid 2011 summer associate position in the firm’s San Diego office. The students are Carlos Espinoza, attending Columbia Law School, who has a master’s degree and bachelor’s degree from the University of Southern California; Kevin Kantharia, student at the University of San Diego School of Law who has a bachelor’s degree from California Polytechnic University; and Robert Yeh, student at UC Berkeley who has a bachelor’s degree from Princeton University and will be returning to the San Diego office for a second summer. “Our goal is to attract top diverse attorney candidates from around the country at an early stage in their legal careers and provide positive experiences and career-building opportunities that will directly benefit the student, the firm and the legal profession in general,” said Nancy L. Stagg, a principal at Fish & Richardson’s Southern California office based in San Diego and chair of the firm’s Diversity Initiative.
Dave Bialis Takes Cox Communications Reins
Dave Bialis, the man who replaced Bill Geppert as senior vice president and general manager of Cox Communications’ California operations (San Diego, Orange County Palos Verdes and Santa Barbara), began his career with Cox in Santa Barbara in 1984 and later was division business operations director at Cox’s Atlanta headquarters. He was most recently the senior vice president of the company’s Western Division, overseeing operations in California, Arizona, Nevada and Louisiana. Bialis was vice president and general manager of Cox Oklahoma for nearly 20 years and also worked as the chief financial officer for the Atlanta Journal-Constitution, a sister company to Cox Communications. He also held management positions at several entertainment companies and was a senior auditor with Price Waterhouse & Co. Bialis holds a bachelor’s degree from USC. Geppert retired from the company at the end of February after spending 30 years in the communications industry.
California Community Bank Appoints President
Escondido-based California Community Bank announced the promotion of Robert A. Marshall to the position of president and chief credit officer. Marshall has been the bank’s executive vice president and chief credit officer since the bank opened in August 2003 and will be assuming additional management duties in his role as second-in-command at the bank. Marshall is a veteran San Diego County community banker with over 25 years of experience. The bank is headquartered at 1320 West Valley Parkway in Escondido and operates four branches — Escondido, Encinitas, San Diego, and Vista.
Union Bank Celebrates National Start! Walking Day
April 6 was National Start! Walking Day and Union Bank joined the American Heart Association in a kick-off celebration at San Diego’s Concourse Plaza. The event included a one-mile wellness walk to promote physical fitness in the workplace. During the lunch hour, employees and co-workers wore their sneakers and participated in the fun walk led by Union Bank Senior Vice President and Market President George Kaye and San Diego Mayor Jerry Sanders. Every year, the AHA challenges corporations to promote physical fitness and break down the obstacles that keep Americans from being physically active to fight America’s No. 1 and No. 3 killers —heart disease and stroke. (Photo: George Kaye, left, Union Bank senior vice president and market president, with Mayor Jerry Sanders.)
SCORE San Diego Small Business Workshops
• April 13 – Internet Marketing 303 – Social Media for Small Businesses – 9 a.m. to noon at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92009; pre-paid registration $49, $59 at the door).
• April 14 – Effective Marketing – Identify and Target Your Customers – 9 a.m. to 4 p.m. at National University in Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $69, $79 at the door).
• April 14 – Business Basics 101 – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; No Charge – Please Pre-Register).
• April 16 – Business Plan 201: How to Write a Winning Business Plan – 9 a.m. to 3:30 p.m. at National University in Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $99, $109 at the door).
• April 19 – Internet Marketing 304 – Cost-Effective Internet Marketing Tools – 9 a.m. to noon at National University in Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $49, $59 at the door).
• April 20 – Buying and Selling a Business – 9 a.m. to 3:30 p.m. at National University in Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $69, $79 at the door).
• April 26 – Introduction to Starting Your Own Business – 9 a.m. to 4:15 p.m. at National University in Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $69, $79 at the door).
• April 26 – Financial Statements – What They Mean, How to Use Them – 9 a.m. to 3:30 p.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• April 27 – Financing Your Business – 9:30 a.m. to noon at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92009; pre-paid registration $29, $39 at the door).
• April 27 – Good Governance for Nonprofits: Effective Board Performance – 9 to 11:30 a.m. at The San Diego Foundation in Liberty Station (2508 Historic Decatur Road, #200, San Diego 92106; pre-paid registration $39, $49 at the door).
• April 29 – Business Basics 101 – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; No Charge – Please Pre-Register).
• April 29 – Tax Considerations for Small Business – 9:30 to 11:30 a.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92009; pre-paid registration $29, $39 at the door).
The Daily Business Report is produced by REP Publishing Inc., publisher of SD METRO, the North Park News, Kensington News and the West Coast Craftsman. Contact: Manny Cruz (619) 287-1865.