Daily Business Report: Friday, March 4, 2022
General Atomics introduces Gambit
New Aautonomous Collaborative platform designed to lead from front
General Atomics Aeronautical Systems Inc. announces its newest UAS platform: Gambit.
Like the chess opening move that inspires the name, Gambit is about initiative, leading from the front, using advanced sensing to grab the tactical advantage and open a world of possibilities.
Gambit is an Autonomous Collaborative Platform (ACP) designed through digital engineering to speed its time to market and lower acquisition cost, and it will deliver an extended and enhanced sensing capability. The jet-powered platform is being built for air dominance and will heavily leverage advances in artificial intelligence and autonomous systems. Working alongside human-piloted aircraft, Gambit will enable pilots to see deeper into hostile airspace, detect threats first, and provide time and space for critical decisions and actions.
“GA-ASI has led the way in integrating UAS into every aspect of military operations,” said GA-ASI President David R. Alexander. “Now we’re once again pushing the boundaries of what’s possible with unmanned aircraft, software, mission systems integration and more.”
Illustration courtesy of General Atomics.
San Diego hurtles toward $5-a-gallon gasoline
Rising gasoline prices have shifted into overdrive after Russia’s invasion of Ukraine led to a surge in crude oil prices, with stations in the San Diego area Wednesday posting an average of $4.88 for regular-grade gas. That’s an increase of 13 cents in the past week.
“Five dollars a gallon is in sight,” said David Hackett, president of Stillwater Associates, a transportation energy consulting company in Irvine.
California to investigate TikTok
Calmatters
California is one of eight states leading a nationwide investigation into TikTok and the social media giant’s strategies to boost engagement among children and young adults, Attorney General Rob Bonta announced Wednesday. The news comes about four months after Bonta unveiled a similar investigation into Instagram and follows a bipartisan group of state lawmakers’ introduction of legislation to strengthen children’s online privacy.
“Our children are growing up in the age of social media — and many feel like they need to measure up to the filtered versions of reality that they see on their screens,” said Bonta. “We know this takes a devastating toll on children’s mental health and well-being. But we don’t know what social media companies knew about these harms and when.”
Bonta said one aspect of the investigation will focus on determining whether TikTok is violating California’s strict consumer privacy laws.
Additional $6 million in small business and
nonprofit grants provided through relief fund
Mayor Todd Gloria announced the allocation of an additional $6 million in grants as part of the City of San Diego’s Small Business and Nonprofit Relief Fund program in partnership with The San Diego Foundation. In total, the city and The San Diego Foundation have provided relief to 1,514 small businesses and 166 nonprofit organizations hardest hit by the COVID-19 pandemic in San Diego.
So far, $11.2 million has been allocated to small businesses and nonprofits. The program is closed to new applications; however, some existing applicants may still receive grants. The city is in the process of finalizing expenses and payments to outreach partners before the balance of grant funds are expended.
Gloria’s “Back to Work SD” budget allocated a $10 million in financial assistance to small business and nonprofits hardest hit by the COVID-19 pandemic and in historically underinvested communities. The San Diego Foundation provided an additional $2 million to support local nonprofit organizations, increasing the total program funding to $12 million.
Mike Hess Brewing and SeaWorld
tap into Emperor Hazy IPA
SeaWorld San Diego and Mike Hess Brewing have created a custom IPA that celebrates Emperor, the tallest, fastest, and longest dive coaster in the state, which opens to the public on Saturday, March 12. The all-new limited release beer will be available only at SeaWorld starting on March 2, the same day that pass members can start previewing the ride before it opens to the general public.
Through SeaWorld’s continued partnership with Penguins International to focus on penguin awareness and the conservation needs of this special aquatic bird, a portion of the proceeds from Emperor Hazy IPA will be donated to Penguins International.
Emperor Hazy IPA is crafted with water, barley, wheat, and oats, as well as Citra, Mosaic, and Cascade hops. And, like all Mike Hess Brewing’s beers, Emperor Hazy IPA is crafted to reduce gluten.
SeaWorld and Mike Hess Brewing have partnered on custom brews for the park since 2015. The first, a fruit-forward IPA was created with the addition of real grapefruit juice to their popular Solis IPA brand.
Keenan Driscoll named the next chief
financial officer for Sundt Construction
Keenan Driscoll has been selected to serve as the next chief financial officer for Sundt Construction. In his new role, he will support executive leadership in driving business performance with short-term and long-term business decisions regarding asset and liability management, risk management and effective internal controls.
Driscoll also will join the Sundt Companies Board of Directors. He will work closely with the company’s longtime chief financial officer Kevin Burnett, who will remain with the company through April before retiring.
Driscoll joins Sundt after more than 11 years with AECOM, one of the world’s leading infrastructure services providers. During his tenure, he served as the company’s global treasurer as well as the chief finance and operations officer for the Americas, with responsibility for financial planning, controllership, project accounting, support services, procurement and real estate.
Prior to joining AECOM, Driscoll spent 10 years working in investment banking.
Cherry Park elected president of the San Diego
Bowl Game Association
The San Diego Bowl Game Association’s board of directors has elected Cherry Park president of the noprofit effort in 2022. She succeeds Bob Bolinger. The association oversees the annual SDCCU Holiday Bowl football game, Sports San Diego, and a year around calendar of events.
Park is a seasoned brand marketer and digital experience leader, driving innovation and transformative change for the global marketing organization at Qualcomm.
With more than two decades of building Qualcomm’s online presence and digital strategy, she has led several high-profile initiatives, including the launch of Qualcomm’s award-winning “mobile-first” web platform and the creation of the Snapdragon Insiders fan community.
The mission of the nonprofit San Diego Bowl Game Association is to generate tourism, visibility and economic impact for the San Diego region. Since 1978, the group has done this by producing the Holiday Bowl.
To date, the bowl effort has generated an economic benefit of nearly $1 billion for the San Diego region.
Viasat named one of Satellite magazine’s Top 10
Hottest Satellite Companies for 2022
Carlsbad-based Viasat Inc. has been named one of the Top 10 Hottest Satellite Companies for 2022 by Via Satellite magazine. The exclusive list, chosen by the magazine’s editors,
was based on expected activity in 2022, a mix of market share, ground-breaking deals, innovative ideas and next-generation technology being delivered to the industry.
“Viasat has long been one of the most admired companies in satellite and has been a technology innovator for many decades,” said Mark Holmes, editorial director of Via Satellite. “Its deal last year to acquire Inmarsat takes the company into an exciting new era.”
“This is an exciting time to be in the space sector — and we’re pleased to be recognized by Via Satellite magazine as one of the preeminent companies leading the industry in terms of innovation, market evolution and growth,” said Rick Baldridge, Viasat’s president and CEO.
Applications to open for California
Competes tax credit program
Applications will open March 7 – March 28 for companies seeking a tax credit to offset state income tax liability. Join the hundreds of San Diego companies who have benefitted.
The Governor’s Office of Business and Economic Development (GO-Biz) has $104 million or more in funds available for eligible companies. Awards are primarily based on the following factors, including:
• Number of jobs created or retained
• Anticipated amount of new capital investments
• Overall economic benefit to the state
• Opportunities for future growth and expansion
Sycuan opens new Pan-Asian Restaurant and cocktail lounge
Sycuan Casino Resort has opened a new restaurant and cocktail lounge Pink Buddha and Karma Lounge. Pink Buddha, a new casual dining restaurant, offers a fresh take on Pan-Asian cuisine featuring the eclectic influences of China, Thailand, Japan, Vietnam, the Philippines and Hawaii. The extensive chef-crafted menu boasts a mix of items including noodles, fried rice, pho, dim sum, Bahn Mi sandwiches, stir fry dishes and more.
Karma Lounge at Pink Buddhais a cozy cocktail hideaway providing guests with a place to enjoy specialty cocktails and small bites in a beautifully crafted atmosphere. The intimate lounge features plush seating areas, ambient lighting, bold neon pink signage and a floor-to-ceiling cherry blossom tree.
The lounge’s cocktail menu serves up a variety of Asian-inspired drinks mixed with everything from Japanese whiskey, Infanta Lambanog to Tia Maria Matcha. The small bites menu offers both savory and sweet options for the perfect cocktail pairing.
City of San Diego simplifies plumbing
requirements for property owners
The City of San Diego no longer requires property owners to file a Water Conservation Certificate when selling their property, simplifying plumbing requirements while ensuring consistency with state legislation. The City Council approved the change to the Municipal Code which went into effect on Feb. 27, 2022.
“The city regularly reviews processes to streamline experiences for San Diegans, and it’s been determined that the Water Conservation Certificate is no longer needed,” said Juan Guerreiro, interim director of the City’s Public Utilities Department. “This change removes a hurdle for property owners and makes it easier for them to do business in San Diego, while upholding our commitment to water conservation.”
In 1992, the city developed several permanent water conservation provisions which were more stringent than industry standards at the time. The provisions required property owners to remove non-conserving water devices and install ultra-low flow toilets and other low-flow fixtures in all new construction or permitted remodels.
Presidio Residential Capital closed
787 homes throughout the West in 2021
San Diego real estate development management company Presidio Residential Capital and its building partners closed 787 homes and acquired nine new projects in 2021. Its current portfolio totals 5,800 homes and lots for sale, under construction or in entitlement or development process and has 20 western U.S. communities with active sales.
Last year four of Presidio’s joint venture partners in California were named to Builder Magazine’s 2021 Next 100 list, the housing industry’s premier ranking of the nation’s most active homebuilders based on how many homes were closed in the previous year.
In 2022 Presidio’s goal is to fund $100 million in joint venture equity to residential homebuilders throughout California, Nevada, Arizona, Colorado, Idaho, Utah and Washington. There are currently 17 projects totaling 2,500 lots that are approved or under due diligence that are planned to close escrow by the end of 2022.
Northrop Grumman and Ball Aerospace to
develop two payloads for U.S. Space Force
Northrop Grumman Corporation and Ball Aerospace will design and develop the two mission payloads for the U.S. Space Force’s Next Generation Overhead Persistent Infrared Polar (NGP) program.
“NGP combines Northrop Grumman’s proven experience in missile warning and defense with Ball Aerospace’s expertise in optical sensors and mission data processing,” said Sarah Willoughby, vice president, overhead persistent infrared and geospatial systems, Northrop Grumman. “Our team’s solution for NGP will assure continuous coverage of the northern hemisphere – especially the critical Arctic region – to protect against incoming threats.”
In May 2020, the U.S. Space Force awarded Northrop Grumman a $2.37 billion contract for the first phase of NGP program.
