Daily Business Report/Jan. 11, 2017
Chris Yanov is the founder and president of Reality Changers, which will present its annual ecomonic impact report on Thursday.
State of the Inner City
Reality Changers Claims Potential
$1Billion Impact on San Diego Economy
On Thursday, the same day that Mayor Kevin Faulconer will give his State of the City address, the nonprofit Reality Changers organization will present its annual “State of the Inner City” report.
Reality Changers said its work translates to a $1 billion impact on the San Diego economy: “The difference in lifetime earnings between a high school graduate and a college graduate is $830,000. If that is the difference that Reality Changers has made on its 1,311 program graduates, then the impact that Reality Changers will have on San Diego’s economy over the lifetime of these students is $1,088,130,000.”
Reality Changers uses the day of the mayor’s address to describe the state of San Diego’s inner-city and the residents who don’t typically merit a mention at the annual Downtown affair: low-income youth, undocumented students, and those trying to leave a life of gangs and drugs in favor of becoming first generation college graduates.
The Reality Changers event will be at 3:15 p.m. at its headquarters at 3910 University Ave., San Diego.
The organization will announce that, for every dollar donated to the organization through May 31, a dollar in scholarships (up to $1.04 million) will be given to Reality Changers’ students, thanks to its scholarship partners:
- $420,000 Anonymous
- $200,000 UC San Diego’s Chancellor’s Associates Scholars Program
- $200,000 UC San Diego Extension
- $195,000 Masons of California
- $25,000 Reality Changers Foundation
Gov. Brown Proposes 5 Percent Higher
State Budget But Warns of Deficit
California Gov. Jerry Brown on Tuesday proposed a $179.5 billion state budget for the 2017-2018 fiscal year, a 5 percent increase over this year, but warned that the state must remain fiscally prudent ahead of an inevitable economic downturn.
The Democratic governor also proposed a $122.5 billion general fund budget for fiscal year 2017-18, virtually unchanged from this year.
Brown said the surging tide of tax receipts over the past few years appears to have turned, and that the state now faces a budget deficit of $2 billion, its first in five years.
Although the $2 billion is much smaller than the $27 billion the state faced in 2011, he said it demanded immediate attention.
“Small deficits can quickly mushroom into large ones if not promptly eliminated,” Brown said in a statement.
The budget proposed to boost funding for state reserves, education, healthcare expansion, and transportation infrastructure, counteracting poverty and combating climate change, while rolling back some planned spending increases.
State Sen. Toni Atkins, whose district covers most of coastal San Diego County, applauded the budget’s investment in local roads and fighting climate change. She said Brown “is right to be cautious amid shrinking revenue growth and the possible repeal of the Affordable Care Act.”
Assemblyman Todd Gloria, who represents the San Diego area, said he was concerned that the spending plan does not sufficiently address California’s housing crisis, calling elimination of a $400 million set-aside for affordable housing “a step backwards.”
Heather Rosing Elected President
Of California Bar Foundation
Heather L. Rosing, shareholder and chief financial officer of the Klinedinst law firm in San Diego, has been elected president of the California Bar Foundation.
As the center of philanthropy for California’s legal community, the foundation focuses on increasing the presence and viability of underrepresented communities in the legal profession.
Rosing has served the foundation as a member of the Scholarship Committee, as well as secretary of the board of directors. She has previously served as vice president of the State Bar of California.
The California Bar Foundation is California’s largest scholarship resource for diverse law students, investing more than $300,000 per year in tomorrow’s lawyers. In 2014, the organization distributed nearly $1 million in grants and scholarships supporting diversity, equity and inclusion in the California justice system.
“Heather’s commitment to community service and creating a more accessible justice system has earned her the respect of her peers,” said Nadia Bermudez, Klinedinst attorney and president of California La Raza Lawyers Association. “She is a tireless advocate for promoting diversity and serving the underrepresented. Her leadership will help move the needle on the critical initiatives of the Foundation.”
During her 2017-2018 term, Rosing will lead approximately 45 board members, as well as three ex officio members.
RAF Pacifica Group
Purchases San Marcos Property
RAF Pacifica Group has acquired a manufacturing and distribution property at 1880 Diamond St. in San Marcos for $3.8 million. DonMar LLC was the seller
The facility features 27 percent office and HVAC production areas, dock and grade level loading, 26-foot clear height and is located on a 1.78-acre parcel.
Lee & Associates represented the buyer and seller.
Scripps Research Institute Signs
Agreement with Pfizer on DNA Technology
The Scripps Research Institute (TSRI) announced a research collaboration and license agreement with Pfizer Inc. to pioneer new DNA-encoded library technology.
Under the terms of the collaboration, Pfizer will pay a technology access fee and thereby gain access to innovative chemical synthesis technology developed at TSRI. Members of the TSRI chemistry department —Professors Phil Baran, Dale Boger, Jin-Quan Yu, K. Barry Sharpless, and others — will work alongside Pfizer scientists.
Financial terms of the agreement were not disclosed.
Health Center Partners Elects New
Board Officers, Committee Chair
Health Center Partners of Southern California, a consortium of community health centers in San Diego, Riverside and Imperial counties, announced the election of four new board officers and five new committee chairs.
The new Health Center Partners board officers are:
- Chair: Kevin Mattson, president and CEO, San Ysidro Health Center
- Vice Chair: Roberta Feinberg, CEO, San Diego Family Care
- Secretary: Lori Holeman, CEO, Community Health Systems, Inc.
- Treasurer: Bruce Hebets, CEO, Borrego Community Health Foundation
The new Health Center Partners committee chairs are:
- Governance: Kevin Mattson, president and CEO, San Ysidro Health Center
- Finance: Bruce Hebets, CEO , Borrego Community Health Foundation
- Audit: Irma Cota, president and CEO, North County Health Services
- Policy: Tracy Ream, CEO, Neighborhood Healthcare
Bylaws: Judith Shaplin, CEO, Mountain Health
SDSU College of Extended Studies
Holds Session on Wine Certification
San Diego State University’s College of Extended Studies will host an information session for its Professional Certificate in the Business of Wine program from 6-7:30 p.m. on Tuesday, Jan. 17, at 57 Degrees, 1735 Hancock St., San Diego.
Attendees will meet instructors and fellow students, as well as learn more about the SDSU wine program.
The comprehensive Business of Wine courses are geared for professionals and entrepreneurs in the wine, food, and hospitality fields who want to quickly expand their knowledge of industry topics. The certificate is directed to restaurant owners and staff, winery employees, event planners, distribution and retail sales employees, wine bar owners and staff; plus anyone interested in moving into wine or hospitality careers, and wine enthusiasts who desire a professional-level education.
PACIFIC OCEAN (Jan. 9, 2017) Damage Controlman 2nd Class Billy Masten passes through a scuttle during a fire drill aboard the Ticonderoga-class guided-missile cruiser USS Lake Champlain. The ship is part of the Carl Vinson Carrier Strike Group which will report to the U.S. 3rd Fleet, headquartered in San Diego, while deployed to the western Pacific as part of the U.S. Pacific Fleet-led initiative to extend the command and control functions of 3rd Fleet into the region. (U.S. Navy photo by Mass Communication Specialist 2nd Class Nathan K. Serpico)