Daily Business Report-May 29, 2014
GoPro founder Nick Woodman wears some of his cameras.
A Little Madness Makes UC San Diego Grad A Billionaire
IN 2010, entrepreneur Nick Woodman realized his life was about to be radically transformed. That was the year Woodman’s rootsy family business — GoPro — exploded into worldwide success.
“You wake up one morning,” he remembers, “and the company you started with your college friends is the fastest growing digital capture company in the world.”
Woodman, a 1997 visual arts graduate of UC San Diego, is a thrill-seeking surf enthusiast who created a device that helps people capture and share their passions. It started as a durable wrist-mounted camera for surfers to record their feats in the lineup — effectively helping them “go pro.” Now the palm-size cameras, which sell from $200 to $400, can be fastened to helmets, handlebars, ski poles, and, yes, surfboards to document experiences both ordinary and extraordinary. Today, GoPro is worth an estimated $2.25 billion.
Spotlighted by Forbes and often called “the mad billionaire” for his eccentric and energetic ways, Woodman is a case study of how passion, limitless persistence and a little madness can go a long way. The campus and community will have an opportunity to learn more about this elusive entrepreneur on Friday, June 6, at “A Conversation with Nick Woodman” at UC San Diego. The free event, part of Alumni Weekend, will begin at 2 p.m. in the Price Center West Ballroom. Woodman will also be honored as the “Outstanding Alumnus” during the weekend’s festivities. He is one of five graduates recognized for their commitment to leadership, advocacy, philanthropy and service to UC San Diego.
The other graduates who will be honored are Larry Goldstein (1976), director of the Sanford Stem Cell Clinical Center; Paloma Young (2006), costume designer and Tony Award winner for the costumes in “Peter and the Starcatcher” which premiered at the La Jolla Playhouse; Julia Brown, honorary alumna, the parent of a UC San Diego graduate. She has served on the UC San Diego Foundation board as chair, vice chair, and as inaugural chair of the board’s stewardship committee, and has been a successful executive in the field of life sciences; and Steve Schreiner (1980), named one of “Southern California’s Top-Rated Lawyers” by American Lawyer Media and the Los Angeles Times. Has played a pivotal role in increasing the influence of alumni, both locally and at the state level.
Botanical Building in Balboa Park Needs $3M in Repairs
Around $3 million needs to be raised to overhaul the iconic Botanical Building in Balboa Park, the head of the Balboa Park Conservancy said Wednesday.
It’s been around 15 years since the last restoration project in the building, which was first constructed for the 1915 Panama-California Exposition — an event that brought international attention to San Diego, conservancy board President Carol Chang said.
“The Botanical Building is one of the most beloved, signature buildings in the park,” Chang said at a news conference.
She said that while less than $10,000 has been raised so far, some interested potential donors have been identified. In order to have the work completed by the target of fall 2015, it would help if the conservancy had the money in hand by around September, she said.
The conservancy is working to update its website to include an area to make donations and to volunteer to work on the building.
Late last year, Chang told City News Service that the structure has a crumbling roof, issues with water management and problems in the gardens. The 99-year-old building at the foot of the lily pond also needs new lighting.
The Botanical Building is one of the largest structures in the world made in a lath style, with strips of wood spaced slightly apart to let in sunlight. It’s home to around 2,100 plants, including collections of cycads, ferns, orchids and palms.
Many buildings in the park need some maintenance, but they’re supported by a museum or some other kind of institution. The Botanical Building, on the other hand, requires financial help from outside organizations or individuals.
Wednesday’s comments by Chang came at a news conference in which people involved in planning for a celebration of the park’s centennial next year said they have resolved their differences, particularly over issues like transparency in the planning process.
One event tentatively set for one spring weekend will transform the park into how it looked in 1915, with people in period garb and roving performers.
While various people and organizations are planning different events, the city of San Diego is in overall charge of managing the centennial, according to Chang.
Forum Focuses on Drought Problem and Solutions
National, regional and local experts in public health, agriculture, environmental planning and government will be brought together on June 6 to define California’s drought problem, debate solutions and identify what is needed to create answers for the city. The program is the second event in the Harvard DISrupt! series, developed by alumni of the Harvard University Graduate School of Design, as a forum for discussion using disruptive, creative thinking to spawn innovation necessary to solve problems and move society forward. It will be held from 4 to 7:30 p.m. at The Energy Innovation Center, 4760 Clairemont Mesa Blvd., San Diego.
Panelists will include:
• Tomas Morales, Morales Baldwin LLP, Regional Water Quality Control Board.
• Dr. James Shine, Harvard School of Public Health.
• Henry Abarbanel, professor of physics, Scripps Institute of Oceanography, UC San Diego.
• Ben Drake, winegrower, California State Board of Food & Agriculture.
• Jeff Pasek, watershed manager, city of San Diego, Public Utilities Department.
• Robert Noble, founder and CEO of Barrio Logan’s Noble Environmental Technologies.
North County Corporate Center Sells for $57.65 Million
VISTA — North County Corporate Center, a five-building industrial park, has been sold for $57.65 million to Cornerstone Real Estate Advisors LLC. Seller of the 493,898-square-foot property was New York-based JPMorgan Chase. Cassidy Turley represents buyer and seller.
North County Corporate Center’s five buildings are set on 26 acres at 990 and 995 Joshua Way and 2750, 2760 and 2765 Progress St.
Built in 1999, the center features 26-foot ceiling clear height, dock-high and grade-level doors, mezzanines, office space and generous parking. The project is more than 90 percent leased to tenants including Jeld-Wen, a major window and door manufacturer that occupies 180,000 square feet; John Deere Water; and CTDI, an electronics firm. About 40,000 square feet is available for lease.
Cavignac & Associates Hires Accounting Assistant
Cavignac & Associates has hired Joyce Hsiao as an accounting assistant. Hsiao will be responsible for executing the agency’s accounts payable operations, processing bi-weekly payroll, assisting with accounts receivable, maintaining the firm’s general ledger, and ensuring EPIC data integrity. Before joining Cavignac, Hsiao was a vendor management systems specialist and GL analyst for Eplica Inc., in Mission Valley. For nearly two years prior to that, she served as a payroll student assistant for the UC Riverside.
Hsiao graduated from UC Riverside with a bachelor’s degree in business administration, with a focus on accounting. She is currently working toward her Certificate of Achievement in accounting from Southwestern College, and her CPA license through Roger CPA Review.