Daily Business Report-Friday, March 18, 2016
The San Diego Convention Center will host the Oceanology International North America trade show on three days in February 2017.
International Maritime Technology
Trade Show Coming to San Diego
The Oceanology International North America, the world’s largest maritime technology show, will come to San Diego in February 2017 — a gathering expected to bring up to 5,000 participants.
The show, to be held here for the first time, was announced by the San Diego World Trade Center San Diego and The Maritime Alliance.
Every other year for the next decade, the trade show will call San Diego home, alternating with London.
“San Diego is the perfect city to launch Oceanology International, North America. We have the largest cluster of Blue Tech companies in the United States and a strong culture of collaboration and innovation,” said Greg Murphy, executive director of The Maritime Alliance. “The future will be increasingly influenced by what happens in the ocean, and the fact that the largest trade show in the world for maritime technology has partnered with us is a huge coup for San Diego and positions our region to capitalize on our strengths. So this is the right place, the right time and the right team to focus our collective attention on the ocean and the growth of sustainable, science-based economic development.”
The announcement was made in London at Oceanology International during a presentation that included The Maritime Alliance, World Trade Center San Diego and Reed Exhibitions, the owner and facilitator of Oceanology International. The show will take place Feb. 14-16 at the San Diego Convention Center.
“We look forward to welcoming companies from all over the world to San Diego next year,” said Nikia Clarke, director of World Trade Center San Diego. “Conferences like these make the most sense as they engage local companies, research institutions and talent — even the US Navy.”
San Diego is home to the largest blue tech economy in the U.S. Comprised of more than 1,400 local companies and organizations, the blue tech cluster supports more than 45,000 jobs and generates more than $14 billion in direct sales, according to The Maritime Alliance.
Governance Academy Trains
Directors for Boardroom Success
To prepare directors for the complex challenges of the boardroom, the Corporate Directors Forum will host a Governance Academy on May 16-17 at the University of San Diego. The two-day training course is designed to expand boardroom competencies, confidence and personal networks.
Led by nationally respected directors and boardroom leaders, “The Essentials of Corporate Directorship” is essential for aspiring and new directors and serves to keep even veteran members current on the expanding responsibilities of directorship.
C-level management, general counsel, key board advisers, business leaders and any individuals who may be involved in the boardroom experience also benefit from the hands-on course.
2016 Course Leaders:
• Michael J. Berthelot, CEO of Mission Manager Inc., and director at Fresh Del Monte Produce Company and Mtelligence Inc.
• Julia R. Brown, chair of Corporate Directors Forum and director at Biodel.
“We believe better directors create better boards, and our purpose is to help directors be even more equipped to thrive in an increasingly complicated, regulated and rapidly changing business climate,” said Linda Sweeney, executive director of Corporate Directors Forum.
To register for the event, contact Corporate Directors Forum at (858) 455-7930 or visit www.directorsforum.com/academy.
USS Carl Vinson Celebrates
Women’s History Month
Sailors aboard the San Diego-based USS Carl Vinson held a Women’s History Month celebration in the hangar bay on Wednesday.
This year’s program, themed “Working to Form a More Perfect Union: Honoring Women in Public Service and Government,” featured a cake-cutting ceremony and a speech from former Carl Vinson command Master Chief April Beldo, who is currently the Navy’s manpower, personnel, training and education fleet master chief.
“This month we pause to acknowledge all women in public service and government, and we remember those who have gone before us, opening the door of opportunity,” said Beldo. “These women laid the foundation and paved the way so that female sailors are able to serve as they choose today. Now, there is no longer any restriction on any occupation within our Navy, and nothing stands in our way.”
Capt. Karl Thomas, Carl Vinson commanding officer, discussed the importance of having women as a part of our nation’s fighting force. “We have come a long, long way over the years,” said Thomas. “I deployed on Carl Vinson in 1988 with an all-male crew, and I can say that we are now much better-equipped with the full integration of women among our crew.”
Aviation Boatswain’s Mate 2nd Class Britanny Engbrecht re-enlisted during the event, with Beldo as her witness.
“As the first woman in my family to ever enlist in the military, I feel great pride today,” said Engbrecht. “I feel it’s very important for women in the military to carry on the tradition and show other women that they are just as capable as anyone else, regardless of gender.”
Naval Ships Based in San Diego
and Hawaii to Swap Home Ports
By City News Service
The Navy announced today that the guided-missile destroyers USS William P. Lawrence based in San Diego, and USS Paul Hamilton, docked in Hawaii, will swap home ports later this year.
The William P. Lawrence currently is deployed, and will go straight to Pearl Harbor in the middle of this year, according to the Navy. The Paul Hamilton will come to San Diego for an overhaul.
The swap is part of an overall Navy strategy of placing its most advanced ships in, or closer to, Asia.
The Lawrence, named for a vice admiral who was a prisoner of war in Vietnam and later commander of the U.S. Naval Academy, left San Diego Jan. 20 to accompany the aircraft carrier USS John C. Stennis on deployment.
The Paul Hamilton is named for a secretary of the Navy from 1809 to 1812 who was instrumental in the creation of naval hospitals.
J. Craig Venter to Receive
Biotech Industry Award
The Biotechnology Innovation Organization has named Dr. J. Craig Venter, founder of Celera Genomics, The Institute for Genomic Research and the J. Craig Venter Institute, as the recipient of its 2016 George Washington Carver Award for innovation in industrial biotechnology.
The award honors the legacy of George Washington Carver, who was one of the founding fathers of the chemurgy movement, a branch of applied chemistry focused on manufacturing industrial products from raw agricultural materials. Industrial biotechnology is the modern-day equivalent of Carver’s vision for chemurgy, and the annual award honors an individual for carrying on Carver’s legacy.
“Dr. Venter’s commitment to this industry matches that of George Washington Carver. Throughout his career, he has used his vast knowledge of biotechnology to break through barriers in science and medicine that were once thought to be impenetrable. This makes him worthy of the recognition attached to this award,” said Joe Hrdlicka, executive director of the Iowa Biotechnology Association and sponsor of this year’s award.
Venter will receive the award and give a plenary session talk at the upcoming BIO World Congress on Industrial Biotechnology plenary luncheon session on April 18 at the San Diego Convention Center. A special selection committee chose him for opening new outlooks on impactful applications in a biobased economy and for industrial sustainability.
San Diegans Transfer One-of-a-Kind
Aluminum Penny to U.S. Mint for Display
The 1974-D aluminum penny — one small coin with a big story — has found a new home.
After uncovering the never-before-seen penny and undergoing a legal discovery process to determine the coin’s origins, real estate agent Randy Lawrence of Berkshire Hathaway and La Jolla Coin Shop Owner Michael McConnell will transfer the aluminum one-cent piece to the United States Mint for public display. Lawrence inherited the 1974-D aluminum penny from his father, former Denver Mint deputy superintendent Harry Edmond Lawrence, who gave it to him in a plastic sandwich bag filled with random coins from mints in other states.
After Lawrence moved to La Jolla from Denver in late 2013, he sold the bag of coins, unbeknownst of the penny’s rarity, to the La Jolla Coin Shop. Shop owner Michael McConnell later suspected the penny’s significance and had it inspected and authenticated by the Professional Coin Grading Service.
Delightfully surprised, the pair planned to auction the coin, with an estimated minimum value of $250,000, and donate up to $100,000 to Funders Together to End Homelessness San Diego, a local collaborative of philanthropists and grant makers that combine resources to fight homelessness, and of which McConnell is a member. The finding of the 1974-D aluminum one-cent piece was named one of the “Top 10 Stories of 2014” by “Coin World” magazine.
But in 2014, the U.S. Mint claimed rights to the coin, and Lawrence and McConnell began a legal discovery process to determine its history: In the early 1970s copper prices spiked and the U.S. Mint began experimenting with other metals, including aluminum. The Philadelphia Mint pressed 1.5 million aluminum pennies, but nearly all of them were destroyed before they entered public circulation, and there is no record of a production run at the Denver Mint. Dr. Alan Goldman, former interim mint director, who served as the head of the aluminum cent project and other witnesses speculate that the 1974-D aluminum penny was most likely part of a very limited unofficial run, and that Lawrence received one of them at some point (exact timeline not determined).
Once Randy Lawrence and McConnell learned that the coin was not part of an official mint production and the 1974-D aluminum one-cent piece was the only one known to exist to date, they immediately reached a settlement with the U.S. Mint that would preserve the coin’s historical significance for public appreciation and display.
“I know my father would be pleased that others will get to see and enjoy this rare piece in the US Mint collection for years to come,” said Lawrence about his father, who retired from the Mint in 1979.
San Diego CFOs Expect Increased
Hiring in the Next Six Months
San Diego executives expect professional-level hiring to increase in the next six months, according to the just-released San Diego Professional Employment Forecast from Robert Half. Nineteen percent of local chief financial officers (CFOs) anticipate their company will create new jobs, up three points from the previous six-month period. Another 65 percent plan to hire only for open roles.
“We’re seeing strong business growth in San Diego, particularly in the technology, biotech, health care and construction sectors,” said Brett Good, senior district president for Robert Half. “A big issue among employers is how to retain the top performers they already have, because those workers now have so much more opportunity to move to other firms. We’re seeing more companies incorporating retention strategies, which have become crucial as businesses continue to expand.”
Fifty-seven percent of San Diego CFOs surveyed said it’s somewhat or very challenging to find skilled candidates for professional-level positions today. This compares to 54 percent in the previous six months.
Many firms are facing increased difficulty staffing financial positions, the research found. Twenty-six percent of San Diego executives said it’s much more challenging or somewhat more challenging to find skilled candidates for finance and accounting positions today compared to three years ago.
County Jobless Rate 4.7 Percent in February
Unchanged from January
Nonfarm jobs up 6,200 over the month; 39,100 over the year
The unemployment rate in the San Diego County was 4.7 percent in February 2016, unchanged from a revised 4.7 percent in January 2016, and below the year-ago estimate of 5.5 percent. This compares with an unadjusted unemployment rate of 5.7 percent for California and 5.2 percent for the nation during the same period.
Between January 2016 and February 2016, total nonfarm employment rose from 1,393,500 to 1,399,700, an increase of 6,200 jobs. Agricultural employment increased by 400 jobs over the month.
• Trade, transportation and utilities posted the largest monthly decrease with an overall loss of 4,000 jobs. Nearly 78 percent of the decline occurred in retail trade as retailers continued to cutback seasonal workers following the holiday shopping season.
• Professional and business services posted an overall decline of 700 jobs, with employment losses scattered throughout.
• Leisure and hospitality recorded the largest month-over payroll employment rise with the addition of 3,500 jobs. Accommodation and food services accounted for 83 percent of the growth.
• Other industry groups with employment growth included government (up 2,200 jobs), education and health services (up 2,200 jobs), construction (up 2,000 jobs), financial activities (up 400 jobs), other services (up 300 jobs), information (up 300 jobs) and manufacturing (up 200 jobs).
Between February 2015 and February 2016, total nonfarm employment increased by 39,100 jobs, or 2.9 percent. Agricultural employment declined by 200 jobs, or 2.2 percent.
• Education and health services reported the largest overall gain with the addition of 8,500 jobs. Health care and social assistance accounted for 85 of the growth.
• Eight other industries reported year over growth including leisure and hospitality (up 7,000 jobs), professional and business services (up 6,400 jobs), construction (up 5,800 jobs), government (up 4,700 jobs), manufacturing (up 3,300 jobs), financial activities (up 2,500 jobs), trade, transportation and utilities (up 1,200 jobs) and information (up 100 jobs).
• Other services posted a loss of 400 jobs over the year.