Daily Business Report-Jan. 30, 2014
The Salk Institute for Biological Studies is one of the principal investigators of the Center of Excellence in Stem Cell Genomics.
San Diego Institutions To Take Part
In New Center for Stem Cell Genomics
A team bringing together experts and investigators from seven different major California institutions — five from San Diego — has been awarded $40 million to create a new Center of Excellence in Stem Cell Genomics, by California’s stem cell agency, the California Institute for Regenerative Medicine.
The Center of Excellence will focus on bridging the fields of genomics — studying the complete genetic make-up of a cell or organism — with stem cell research. The goal is to use these tools to gain a deeper understanding of the disease processes in cancer, diabetes, heart disease and mental health, and ultimately to try and find safer and more effective ways of using stem cells in medical research and therapy.
“This Center of Excellence in Stem Cell Genomics shows why we are considered one of the global leaders in stem cell research,” says Alan Trounson, president of the stem cell agency. “Bringing together this team, to do this kind of work means we will be better able to understand how stem cells change as they grow and become different kinds of cells. That deeper knowledge, that you can only get through a genomic analysis of the cells, will help us develop better ways of using these cells to come up with new treatments for deadly diseases.”
The Center of Excellence consists of Stanford University and the Salk Institute for Biological Studies as the joint principal investigators. UC San Diego, the Scripps Research Institute, the J. Craig Venter Institute and Illumina Inc., all in San Diego, will collaborate on the project; UC Santa Cruz will run the data coordination and management component.
The stem cell agency’s governing board, the Independent Citizens Oversight Committee, also approved more than $27 million in funding for the Basic Biology V awards that go to researchers trying to advance the field by tackling significant, unresolved issues in human stem cell biology. The awards include $1.1 million to Dr. Christian Metallo from the UC San Diego to study how human neural or brain nerve stem cells can help people recover from a stroke.
Dianne Jacob: State of the County
Chairwoman emphasizes ‘bees, beer and burgundy’
Supervisor Dianne Jacob used the annual State of the County address Wednesday to discuss paving the way for business development in rural areas and the expansion of jails to absorb state prisoners, among other things, City News Service reports.
In her roughly 35-minute speech at the County Operations Center, the board chairwoman addressed prisoner realignment, including the planned expansion of detention centers and the staffing of sheriff’s stations in Rancho San Diego, Lakeside and Pine Valley.
Law enforcement officers also are combating sex trafficking. “Keeping our community safe remains our top priority,” Jacob said.
Jacob said county officials were committed to boosting business in the back country. In recent years, the county has made it easier to open farmers markets, and worked to cut red tape for horse stable owners and winemakers.
The board is now looking to ease regulations for beekeepers and craft brewers. “I’ve got three words for you — bees, beer and burgundy,” she said.
Sudberry Properties Moves Ahead With Civita Park
Sudberry Properties said it is moving ahead with construction drawings for the 19+acre Civita Park and ancillary parks in its master-planned Mission Valley community. The park was designed by Schimdt Design Group of San Diego.
Groundbreaking on the initial phases of the park is planned for summer of 2014, with an anticipated opening about one year later. Sudberry Properties will construct the parks, with the city of San Diego supervising the process.
The initial phases are planned to include a dog park, outdoor amphitheater, interactive water feature, community garden, exercise nodes, jogging path, two basketball half courts, restrooms and parking lot. Planned finger trails will connect surrounding neighborhoods with the park.
“Our goal from the beginning has been to create a marquee amenity that will serve Civita residents and the entire Mission Valley community,” said Marco A. Sessa, senior vice president of Sudberry Properties. “Glen Schmidt’s design is everything we envisioned and more.”
Civita Park is planned to be one of the largest public parks to be built in metropolitan San Diego in decades.
About one third of the 230-acre community will be set aside for parks, trails and open space.
Callaway Golf Posts $49 Million Loss for 2013 Fourth Quarter
CARLSBAD — Carlsbad-based Callaway Golf Co. on Wednesday reported a loss of $49 million, or 65 cents per diluted share, in the fourth quarter of 2013, and a $19 million loss for last year as a whole, or 31 cents per diluted share, City News Service reports.
The fourth quarter figures compare to a $71 million loss in that time period in 2012, which amounted to $1.01 per diluted share. For all of 2012, the maker of golf equipment lost $123 million, or $1.96 per diluted share.
“We are pleased with our financial results during the first full year of our new operating model,” said Chip Brewer, the company’s president and CEO.
“Despite challenging market conditions throughout much of the year, we were able to grow sales of our current business, on a constant currency basis, by 14 percent.”
The company has refocused on golf equipment and performance-enhancing products, changed its approach to sales and marketing, and increased its presence on the PGA tour, Brewer said.
Sales increased by $7 million in the 2013 fourth quarter compared to the same period the year before, according to the company’s financial report. For 2013 as a whole, sales were up by $9 million over 2012, to $843 million — led by a 28 percent increase in sales of its drivers and fairway woods.
Callaway’s guidance for 2014 projects sales of $880 to $900 million, based on current foreign exchange rates.
Even with higher expenses for marketing efforts and its increased tour presence, the firm is projecting earnings of 12 cents to 16 cents per diluted share this year.
UC San Diego Rady School of Management Ranked High
The UC San Diego Rady School of Management has been ranked as one of the top 100 business schools in the world by the Financial Times. The school was also ranked 17th in faculty research in the Financial Times’Global MBA Rankings 2014, and ranked 8th globally in entrepreneurship by alumni surveyed by the outlet. The Financial Times selected 153 business schools for its full-time MBA ranking, from among the 700-plus schools accredited by The Association to Advance Collegiate Schools of Business worldwide. A further breakdown of the rankings reveal that among business schools in California, the Rady School ranked first for percentage of female students, second for career progress, and third for percentage of international students. The Rady School offers a unique MBA program tailored for professionals with science and technology backgrounds that also have an interest in innovation and entrepreneurship. Many Rady students have gone on to establish their very own start-up ventures.
County Parks Get OK to Offer Naming Rights
To Sports Arenas, Gardens, Trails and Amenities
The County Board of Supervisors Wednesday voted to allow individuals, businesses or nonprofits to name or basically sponsor certain park amenities as part of a cost-recovery plan for the County Department of Parks and Recreation. The vote means the parks director has the authority to approve naming rights for five years or less or $15,000 or less.
Entire parks or previously named areas would retain their monikers but tennis and basketball courts, sports arenas, gardens, playgrounds and pools in addition to the above mentioned ball fields, playgrounds and trails would be available for naming sponsorships.
“It’s another way to raise money for county parks,” said Parks Director Brian Albright. “We are not going to commercialize the parks, but we want to offer opportunities for groups and individuals who want to help us maintain our award-winning park system.”
Pricing for naming rights begins at $1,000. The naming rights program will get under way in the spring. For more information, visit sdparks.org.
Connect and Rady School Offer New Executive Education Program
Connect and the Rady School of Management announced a new executive education program to support the Southern California region’s technical and scientific workforce, The Leadership Development Program for Science and Technology Management (LDP). The program will extend over a three-month period and will combine lectures and peer interaction while giving program participants the ability to apply the curriculum immediately in the workplace.
“While there are many regional opportunities for executives that may want a master of business administration degree, the LDP is unique in that it addresses critical management skills necessary in managing science and technology portfolios,” said Clark Jordan, associate dean of the Rady School of Management.
For more detailed information, contact Kevin Carroll at (858) 964-1313.
Gov. Brown and Budget Fare Well in Poll
SACRAMENTO — Gov. Jerry Brown is on a roll with record-high favorable ratings and strong public support for a budget that bolsters school spending and pays off some debt, according to a new poll, the U-T San Diego reports. The survey by the Public Policy Institute of California shows that 60 percent of likely voters approve of Brown’s job performance and three out of every four of them favor his approach to the state budget. “For the governor, it really hasn’t been any better than this,” said Mark Baldassare, PPIC president.
The survey comes after Brown released his proposed 2014-15 spending plan this month that socks away more in reserve, pays off some old bills and substantially increases the outlay to schools. An improving economy and voter-approved tax increases are boosting the availability of cash.
In contrast, President Barack Obama’s favorable numbers have plunged to 46 percent among likely voters — a record low in this Democratic state. He fares better among all adults, with an approval rating of 53 percent.
Baldassare said a litany of problems — from the disastrous rollout of the Affordable Care Act to the budget stalemate — remains on the minds of voters.
Trigild Promotes Kelley McLaren to CAO;
Josh Hall Advanced to Chief Financial Officer
Trigild, a San Diego-based real estate firm, has promoted Kelley McLaren from managing director/receiver services to chief administrative officer, and Josh Hall from managing director/real estate east to chief financial officer.
McLaren has been with Trigild since 2006, working her way up the company ranks and overseeing more than 100 receivership appointments. She currently is incoming president of the San Diego Receivers Forum board, co-chair of the Southern California chapter of the Turnaround Management Association’s NextGen committee and on the planning committee for the Turnaround Management Association’s Western Regional Conference. She has an MBA and a bachelor’s degree from San Diego State University, received her paralegal certificate from the University of San Diego.
Hall has been with Trigild since 2010, and in addition to his extensive commercial real estate background, is a trained engineer, working as an engineering project officer and operations officer during five years in the U.S. Navy. He holds an MBA from Harvard Business School and a bachelor’s degree from the United States Naval Academy.
San Diego Center for Children CEO to Retire
Dave McCaslin, chief executive officer of the San Diego Center for Children for the past six years, announced his retirement, effective March 31. The local nonprofit provides services for children and teens facing behavioral, emotional, social and educational challenges. McCaslin began volunteering on the board of trustees for the center in 2007, and was promoted to interim CEO in 2008 and subsequently to permanent CEO a few months later. McCaslin has more than 30 years of experience with small entrepreneurial companies and large multinational organizations. He has also served on the board for First Medical Inc., HTI Bio Services, HTI Bio Products, Sierra Biomedical and Concerro.
Michael Lees Named Shareholder of Seltzer Caplan
Michael Lees has been named a shareholder of the San Diego-based law firm Seltzer Caplan McMahon Vitek. Lees, who joined the firm as an associate in 2005, focuses on real estate and business transactions, taxation and health care law. He received his J.D. from the University of San Diego School of Law and his LL.M. in taxation, with distinction, from Georgetown University Law Center. He also holds an undergraduate degree in business administration with a double major in accounting and finance from the University of Arizona.
Suzanne Somers Added
To Speakers List at
San Diego Women’s Week
Actress and healthy living advocate Suzanne Somers has been added to the list of speakers at the 2014 San Diego Women’s Week March 17-21 sponsored by the San Diego North Chamber of Commerce. Somers will speak on how she reinvented her life and career — triumph over a turbulent childhood, the firing from the hit show “Three’s Company and, most recently, breast cancer. She has written 25 books, the latest being “I’m Too Young for This! The Natural Hormone Solution to Enjoy Perimenopause.”
Somers will share the stage with a variety of other speakers at the March 21 Inspiration Conference. Those include author, child advocate and kidnap victim Elizabeth Smart; author of “Orange is the New Black,”Piper Kerman; Kim Coles; and Tanya Brown, sister of Nicole Brown Simpson.
Attendees of the 2014 Women’s Week will be inspired, empowered, and connect with women in the San Diego region through the week at different events being hosted. Each event will have a dedicated focus including Financial Empowerment, Health, Networking and Business. A complete list of speakers and events is listed at www.sdwomensweek.com.
Access Destination Services
Promotes Jennifer Miller
Access Destination Services has promoted Jennifer Miller to the role of partner and president of Access offices in San Diego, Los Angeles, Las Vegas and Arizona. Miller began her career in the hospitality industry in 1990 as a meeting planner/account executive for an incentive travel firm. She joined Access Destination in 2000 and was promoted to general manager, overseeing offices in San Diego and Los Angeles. By 2010 her responsibilities were expanded to include the Arizona and Las Vegas offices.
PR Agency Offers Pro-Bono Services to Nonprofits
Clearpoint Agency Inc., a public relations and marketing communications firm based in the San Diego area, is accepting nominations of nonprofit organizations in need of pro-bono PR and marcom services in 2014. The PR firm will choose one nonprofit based on mission and need. Clearpoint will accept nominations from local, regional or national 501(c)(3) organizations. The firm will select three entries to be reviewed by a panel of judges including clients and partners of the firm.
To submit, visit the agency’s website (clearpointagency.com) and complete a brief online formby Feb. 14. The winner will be notified by telephone, and announced on Feb. 28 via Clearpoint’s blog and Facebook page. Services rendered will be based on the nonprofit’s needs and may include, but are not limited to, message development, press releases, blog writing, website content, social media, and media relations.