Daily Business Report — May 14, 2012
Aldila Impacted by Rising Costs in China
Aldila Inc. of Poway, the leading graphite shaft manufacturer on the PGA Tour, announced net sales of $15.9 million and a net loss of $449,000 ($0.08 loss per share) for the three months ending March 31, 2012 as compared to net sales of $11.3 million and a net loss of $535,000 ($0.10 income per share) for the comparable period in 2011. The company’s composite products sales increased 61 percent for the three-month period compared to the comparable period of 2011. Golf shaft units shipped increased by 61 percent and the average selling price declined by 2 percent for 2012 as compared to 2011. “While we are encouraged with our increase in overall sales in our golf business, our gross margins continue to be impacted by the rising costs in our China operation,” said Peter Mathewson, chairman and CEO. “With virtually the entire golf industry manufacturing base entrenched in China, we believe this to be problematic for the entire industry as costs continue to rise systemically on account of rising labor costs. We believe it is imperative to reduce our costs in China as quickly as possible and to that end we have begun to shift production in a more meaningful way to our facility in Vietnam.” Mathewson said this would give the firm a “viable alternative” that most of its competitors lack.
Peter Ueberroth to Speak at USD
Former Major League Baseball Commissioner Peter Ueberroth will speak at a May 31 breakfast event sponsored by the University of San Diego’s Burnham-Moores Center for Real Estate. The breakfast will be from 7:30 to 9 a.m. on the campus. Registration for Breakfast costs $35. Ueberroth was MLB commissioner between 1984 and 1989. From 1980 to 1984, he was president of the Los Angeles Olympic Organizing Committee, the organization responsible for staging the 1984 Los Angeles Olympic Games — the first privately financed games.
Gas Prices Rising
The cost of fuel on the wholesale market jumped more than 30 cents a gallon last week, putting upward pressure on prices, KPBS reports. The average cost of a gallon of gas rose about 4.5 cents overnight. High prices have kept demand for fuel low, but now record inventories appear to be dwindling. The supply of fuel is shrinking, in part, because of refinery issues. “There’s been a lot of shutdowns for planned and unplanned maintenance, and also the refineries have been cutting back supply because demand has been very weak,” said Charles Langley, a gasoline analyst for the Utility Consumer’s Action Network.
Embarcadero Plan to be Reviewed on Thursday
The Joint Powers Authority for the North Embarcadero Visionary Plan will meet at 2 p.m. on May 17 to review a construction update and hear information on a planned shuttle that will serve the embarcadero area. The meeting will be in the Port of San Diego Administration Building, 3165 Pacific Highway. Construction on the first phase of the plan — intended to beautify the waterfront and create new public open space — began in January. The contractor, USS Cal Builders, is currently installing utilities and constructing the new North Harbor Drive roadway.
Jack in the Box Names New President and COO
Leonard A. Comma has been promoted to president and chief operating officer of Jack in the Box Inc. Comma, who had served as executive vice president and chief operating officer of the company since 2010, retains oversight of operations, restaurant development and franchising, and will now also oversee marketing for Jack in the Box restaurants. Comma joined Jack in the Box in 2001 as director of convenience store and fuel operations.
Cubic Corp. Appoints New Lobbyist
Cubic Corp. has named Andy Jazwick as its vice president for legislative affairs. Jazwick replaces Jack Liddle, who is retiring after holding the position the past 15 years. Jazwick will be Cubic’s representative and lobbyist in Washington, D.C. He has more than 25 years of experience in government and public relations, public policy, corporate business development and international affairs and as a senior staffer on Capitol Hill. Before joining Cubic, he was the senior vice president for aviation security at Reveal Imaging. Jazwick also was SAIC’s senior lobbyist to the government and industry in the homeland security, national defense and intelligence areas for 11 years.
Bellus Academy, a beauty school, will host a special fundraiser on May 17 to benefit recent aesthetician graduate Ashley Bartlett Moore of North Park, who has been battling ovarian cancer since her diagnosis earlier this year. Calling it Ashley Moore Day, the Academy plans to fill every appointment available on May 17 across all three of its California campuses — Poway, National City and El Cajon. Each campus will be accepting donations on behalf of Moore as well as holding a silent auction, offering giveaways and posting a banner for patrons to wish her the best. The money raised will help Moore pay her rising medical expenses that exceed her insurance coverage. Well-regarded by her peers and mentors, Moore made a name for herself within the Academy, earning top marks toward her degree and successfully passing her state board exam in April 2011. She then launched her own traveling aesthetician business, giving various skin treatments in clients’ homes before becoming the in-house aesthetician at Simply Spa, a boutique spa in Santee.
The Daily Business Report is produced by SD METRO. Contact: Manny Cruz (619) 287-1865. email@example.com.