Daily Business Report — July 7, 2011
San Diego Regional EDC Selects New President & CEO
Barry Broome, head of the Greater Phoenix Economic Council for the past six years, has been tabbed as the next president and CEO of the San Diego Regional Economic Development Corp. He replaces Julie Meier Wright, who retired in June. Broome will take the helm of the organization in early August. During Broome’s tenure in Phoenix, the agency attracted more than 160 companies to the area, creating more than 30,000 jobs and more than $6.5 billion in capital investments in Greater Phoenix. According to a biographical sketch accompanying Broome’s selection announcement, he orchestrated the passage of a $350 million tax credit to stimulate renewable energy investment in Arizona — one of the largest incentive offerings in the U.S. The program helped propel Arizona to first in the country for renewable energy ranked by Business Facilities magazine. “In this new opportunity, I’ll have a unique chance to leverage my expertise in cultivating the bioscience industry, deepen my experience in clean technology and pursue pioneering trade and foreign direct investment,” said Broome.
“Barry’s proven ability to develop new industries, structure economic development programs and secure complex relocation and expansion projects is going to fuel our region,” said Debra Reed, EDC chairman and CEO of Sempra Energy.
Downtown Partnership Hires Security Service
The Downtown San Diego Partnership has hired Heritage Security Services to provide “safety ambassadors” for its Downtown Clean & Safe Program. The firm will deploy more than 28 ambassadors to patrol the Downtown area 24 hours a day, seven days a week. The Partnership will be able to track each of the ambassadors through GPS and will be provided with reports and statistics on graffiti incidences, landscaping litter, medical emergencies and public nuisance activities such as panhandling and public intoxication.
First-Phase Renovations Completed at Sycuan Casino
KCM Group Inc., project manager for the Sycuan Casino in El Cajon, has completed the first phase renovations for the gaming, dining and entertainment destination. Part of a 200,000-square-foot renovation, this first of two phases involved constructing three new, smoke-free locations: San Diego-area’s largest poker room, an Off Track Betting room and an entire gaming wing for slots and table games. Paipa’s Buffet restaurant was relocated and transformed with a new kitchen and food stations. Construction of phase one of the project started in November 2010 KCM Group is currently managing its second and final phase, with completion expected in lateAugust. Sycuan Casino is operated by the Sycuan Band of the Kumeyaay Nation and has remained open to guests throughout the renovations. The second phase includes a grand entrance to the casino featuring specialty lighting designed to create the illusion of water, as well as renovation of the bingo hall, reconstruction of casino restrooms, a new video and promotions stage, and new grand stairway linking the lower-level casino to the new table games area. For dining, final renovations will signal the debut of the GameDay Sports Bar & Grill and the unveiling of makeovers for the Sunset Deli and Bingo Snack Bar.Swinerton Builders is the general contractor. Subcontractors include Neal Electric, California Comfort Systems, American Marble, J.F. Duncan Industries, Custom Seating and Upholstery, Component West, Casa Interiors Floor Coverings, Howard’s Rugs and South Bay Welding. The architect is Hnedak Bobo Group of Memphis, Tenn., and the interior designer is Cleo Design of Las Vegas.
SCS Engineers Retained for Mercade del Barrio Work
SCS Engineers has been retained by Shea Properties and PCL Construction Services for the Mercado del Barrio, an affordable housing complex to be built in Barrio Logan. Seven acres are being redeveloped by Shea Properties for a grocery store, commercial and restaurant space, affordable housing and an above-ground parking structure. SCS conducted soils investigations and developed a soil anagement plan, which was approved by the San Diego County Department of Environmental Health. The grand opening for Mercado del Barrio is slated for late 2012.
Regents Bank Promotes Darla Clark
Darla Clark has been promoted to executive vice president of corporate banking for Regents Bank, which she helped form in 2001. Clark previously was senior vice president and manager of corporate banking. Clark is a member of Strategic Trusted Advisors Roundtable, an invitation-only membership group comprised of business and/or advisory professionals with more than 10 years of experience. Regents operates banking offices in Downtown San Diego, La Jolla, Carlsbad and El Cajon as well as in Vancouver, Washington.
David Massey Joins Merrill Lynch Wealth Management
David Massey has joined Merrill Lynch Wealth Management as senior vice president, financial adviser in its Carlsbad office. Massey manages short-term investments for corporations and works with executives across the nation. He has been in the financial services industry for over 10 years, beginning his career at Merrill Lynch Wealth Management and then working at UBS for eight years. Prior to returning to Merrill Lynch, Massey was most recently with Morgan Stanley Smith Barney for three years. He has been recognized nationally, ranking No. 8 on On Wall Street’s “Top 40 Under 40” in 2010 and No. 17 on the same list in 2009. Massey attended Wheaton College in Illinois.
ResMed Inc. Acquires Irish Medical Technology Firm
ResMed Inc., a manufacturer and distributor of medical equipment for treating sleep-disordered breathing and other respiratory disorders, has acquired BiancaMed Ltd., an Irish medical technology company. ResMed purchased all of BiancaMed’s outstanding shares with cash. BiancaMed has developed SleepMinder to monitor sleep and breathing in the home and hospital. The device that measures sleep and breathing with sophisticated biometric software. The company is developing a number of other applications for the technology, across a range of medical and consumer settings. BiancaMed will become a part of ResMed’s newly-created Ventures and Initiatives unit. ResMed estimates the acquisition will dilute ResMed’s earnings per share by approximately $0.04 in fiscal year 2012, excluding amortization of intangibles and one-time acquisition related costs.
‘Coinarama’ Coin Show Set for July 23-24
The seven coin collector clubs of San Diego County will hold their 54th annual “Coinarama” Coin Show July 23-24 at the Scottish Rite Event Center, 1895 Camino del Rio South, in Mission Valley. Seventy-five bourse tables have been sold out to dealers who will offer American and foreign coins and currency, ancient coins, precious metal bullion pieces, jewelry, reference books and collecting supplies. Dealers will provide free informal appraisals of coin values. An area set aside for “Coins for Kids” will include contests, awards, and free coins and coin albums for children. On July 23, from 1 to 4 p.m., a Merit Badge Workshop for Boy Scouts will be held. Check-in begins at noon. Coin show hours will be 10 a.m. to 6 p.m. on Saturday and 10 a.m. to 5:30 p.m. Sunday. A numismatic auction will be held Saturday at 5:30 p.m. with Jim Hill of “Treasure Trove” doing the auctioneering. Adult admission covering both days is $4, or $3 with a current membership card to a numismatic organization. Ages 15 and under are free. For more information, visit coinarama.org.
SCORE San Diego continues its series of low-cost workshops. Fees range from $29 to $109, depending on the program. To register online, visit score-sandiego.org. For more information, call (619) 557-7272.
• July 8 – Professional Selling: Increase Your Business Sales Now! – 9 a.m. to 4 p.m. at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; pre-paid registration $69, $79 at the door).
• July 8 – Financial Statements: What They Mean, How to Use Them – 9:30 to 11:30 a.m. at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; pre-paid registration $29, $39 at the door).
• July 11 – Business Basics 101 – 9 a.m. to noon at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; no charge – please pre-register).
• July 12 – Legal Issues for Small Business: Contracts and Leases – 9 a.m. to noon at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; pre-paid registration $49, $59 at the door).
• July 13 – QuickBooks Basic – 9 a.m. to 4 p.m. at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; pre-paid registration $69, $79 at the door).
• July 15 – Women’s Networking Breakfast and Exhibits – 8 to 11 a.m. at Morgan Run Resort & Club in Rancho Santa Fe (5690 Cancha de Golf, Rancho Santa Fe 92091; attendees: $30 by July 12, $40 after; exhibitors: $80 by July 12, $90 after).
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.