Daily Business Report-May 6, 2013
Scripps Research Institute Reports Successful Preclinical Tests of Vaccine Against Heroin
Scientists at The Scripps Research Institute have reported successful preclinical tests of a new vaccine against heroin. The vaccine targets heroin and its psychoactive breakdown products in the bloodstream, preventing them from reaching the brain. “Heroin-addicted rats deprived of the drug will normally resume using it compulsively if they regain access, but our vaccine stops this from happening,” said George F. Koob, who chairs TSRI’s addiction research group, the Committee on the Neurobiology of Addictive Disorders. If the vaccine works as well in human trials, it could become a standard part of therapy for heroin addiction, which is estimated to affect more than 10 million people worldwide. Koob, Professor Kim Janda, and their laboratories led the study, which appears in the Proceedings of the National Academy of Sciences.
The heroin vaccine is one of several vaccines against drugs of abuse that have been developed since the 1990s by scientists at Scripps Research Institute and other institutions.
Roberto’s Mexican Food Restaurant in Del Mar to Reopen for Business
Roberto’s Mexican Food restaurant in Del Mar, a popular eatery for more than 30 years, will reopen for business on May 9. The restaurant was forced to close on March 30 after a motorist plowed into the kitchen. “We are really excited about the re-opening and we are going to celebrate,” said Cecilia Robledo, who owns the business with her husband Rolando. “Closing has been hard on everyone, especially the employees. They are eager to get back to work.” Rolando and Cecilia opened their first Roberto’s in 1981 in Solana Beach. They now own seven of over 100 family-run Roberto’s locations throughout the Southwest.
Roberto and Dolores Robledo started Roberto’s in 1964. It originally opened as a tortilla factory and went on to serve a limited menu.
Mayor’s Budget Proposal to Get City Council Scrutiny
The San Diego City Council this week will begin reviewing Mayor Bob Filner’s initial budget proposal, department by department. Today, the city’s Independent Budget Analyst Andrea Tevlin will present her report on the budget. In it, she addresses Filner’s attempt to handle a $38.4 million deficit. This gap comes from the loss of redevelopment funds and the extra costs of implementing voter-approved pension reform. To help balance things, Filner suggests using $23.7 million in one-time funds, including $21.6 million in settlement money from an SDG&E lawsuit. “The reliance on one-time solutions to balance the budget is a concern,” Tevlin’s report states. Because that money will not be available next year, the next budget could have to cut services to remain balanced.
The IBA report proposes alternative ways for the city to make more money without the use of these one-time funds, including using $1.1 million from the Street Damage Fund and increasing the Redevelopment Property Tax Trust Fund revenue from $3.1 million to $5.2 million. City Council President Todd Gloria said the council won’t like using one-time funds, but also could accept it as necessary.
Real Estate Sales
Reported by Cassidy Turley San Diego
Hamann Properties Inc. purchased a 103,997-square-foot industrial building in the Britannia Industrial Park at 2350 Siempre Viva Court, San Diego, for $5.41 million. Cassidy Turley represented both parties in the transaction.
La Jolla Trust & Rose Trust purchased a 5,000-square-foot multi-family property of seven residential units over two parcels at the Wind N Sea Apartments at 6520-6526 La Jolla Blvd., San Diego, from California First Property Consultants Inc. for $1.95 million. Ray Adams of Cassidy Turley represented the buyer. Alan and Faye Tassviri represented the seller.
Luxury Auto Body purchased an 11,894-square-foot industrial building at 9450 Camino Ruiz in San Diego from Pioneer Real Estate for $1.8 million. Bryce Aberg, and Brant Aberg of Cassidy Turley represented both parties in the transaction.
Peter P. Tarantino Trust purchased a 30,000-square-foot industrial building at 796 Energy Way in Chula Vista from CSB Florida CRE Holdings LLC, c/o Iberia Bank for $1.55 million. Cassidy Turley represented the seller in the transaction. Arthur Bleier and Nick Price of Voit Real Estate Services represented the buyer.
Mark D. Matthews, Nancy Matthews, Gabriel Matthews and Janelle Matthews purchased an 11,050-square-foot industrial building at 830-856 Fesler St. in El Cajon, from Arban Family Trust for $1.3 million. Cassidy Turley San Diego represented the seller in the transaction. James Renner of Inland Pacific Commercial Properties represented the buyer.
County Supervisors Greg Cox and Dianne Jacob Urge Support for Legislation to Protect Patients from Medi-Cal Cuts
County Supervisors Greg Cox and Dianne Jacob joined with local hospital leaders last week to call on the California Legislature and Gov. Brown to spare hospital-based skilled-nursing facilities and other health care providers from Medi-Cal cuts. Both Assembly Bill 900 and Senate Bill 640 would reverse the Medi-Cal cuts that were enacted in 2011. “Unless the Legislature and Gov. Brown take action, the health and safety of California’s most medically complex patients, frail seniors and disabled people will be at risk,” said Cox. “Here in San Diego County, these cuts would come to $6.6 million moving forward and $10.4 million in retroactive repayments.” Cox and Jacob spoke at a press conference at Edgemoor Hospital in Santee.
Dischcrawl Comes to North Park
Alexander’s on 30th, Sea Rocket Bistro, West Coast Tavern and Swoon Dessert Bar are on the “menu” for the May 7 Dishcrawl in North Park. Similar to a pubcrawl, the event will take food lovers to each of those restaurants to sample the fare and to meet the chefs behind the meals. The event starts at 7 p.m. Tickets are $45 apiece and can be purchased online at dishcrawl.com/san diego.