Daily Business Report: Thursday, June 16, 2022
California legislators want to help you buy
a house with down payment, ‘shared equity’
Proposal authored by state Senate President Pro Tem Toni Atkins of San Diego
By Alejandro Lazo | CalMatters
First-time buyers often rely on family gifts to afford the down payments on their homes. Now California Legislators want the government to fill the role of generous relative.
Lawmakers are proposing creating a billion-dollar fund in this year’s state budget that would provide California’s first-time buyers either all of the money they need for a down payment, or very close to it, in exchange for partial ownership stakes in those residences.
The proposal, put forward by state Senate President Pro Tem Toni Atkins, comes as skyrocketing property prices broaden the divide between those who own their homes and those who rent in California. In the past year, Golden State homeowners gained $141,000 in home equity, on average, the housing research firm CoreLogic reported last week, more than in any other state.
California’s rate of home ownership, at 56 percent, is second lowest in the country behind New York, according to the American Community Survey data from the census.
Atkins said the California Dream for All program is aimed at creating opportunities for lower- and middle-income buyers in a rapidly rising market, including those who have faced racial and economic barriers to homeownership.
“The California Dream for All program will give more people the chance to break free from the cycle of renting,” Atkins said last month. “This has the ability to change people’s lives.”
The proposal is the subject of negotiations between the Legislature’s Democratic supermajority and Gov. Gavin Newsom, also a Democrat, on how to spend a projected budget surplus of $97.5 billion. The legislature passed a budget on Monday that includes the proposal, though negotiations with Newsom continue on a final overall spending plan.
Top photo: Aralyn Tucker outside of her condo in Natomas on June 11, 2022. (Photo by Julie Hotz for CalMatters
Viasat named key market player
in Global Satellite Modem Market report
Viasat was named as one of the key players in the Global Satellite Modem Sales Market 2022 report, along with ORBCOMM Inc., Novelsat, Datum System, Hughes Networks Systems, Contech Telecommunications Corp., ST Engineering, Teledyne Technologies, Gilat Satellite Networks Ltd., and Work Microwave GmbH.
The global satellite modem market was valued at $354.6 million in 2020, and is projected to reach $1033.4 million by 2030, registering a CAGR of 16.5 percent from 2021 to 2030.
Key market driving factors during the forecast period include communication satellite solutions across military and defense and telecommunication sectors; a rise in numbers of high-throughput satellites (HTS) globally; a growing need for enriched high-speed data communication; and a growing demand for satellite communication in the Internet of Things (IoT).
Ram Patrachari joins Jamul Casino
as chief information officer
Jamul Casino has recruited Ram Patrachari to its team as its new chief information officer. With more than two decades of IT and casino experience, Patrachari is a sought-after gaming technology industry expert, speaker, and award-winning executive.
Jamul Casino engaged Patrachari to build new technology systems to help ensure that the casino remains a regional leader, offering a secure and seamless experience for all casino guests.
Patrachari brings more than 25 years of experience in information technology.
Throughout his career, he has worked for premier companies like Bell Labs, Compaq, Exodus Communications and AT&T Wireless. Most recently, he brings a wealth of experience from a more than 15-year tenure with another major Southern California casino. In this position, he was instrumental in building the IT infrastructure to support the building and operation of hotel towers with 400 VIP guest rooms.
Patrachari holds an MBA degree from Monmouth University and a master’s degree in electrical engineering from Stevens Institute of Technology.
U.S. Navy 3rd Fleet Changes command today
Vice Adm. Steve Koehler will transfer command of U.S. 3rd Fleet to Vice Adm. Michael Boyle during a change of command ceremony at Naval Base Point Loma at 10 a.m. today.
Koehler, a native of San Diego, assumed command as the 31st commander of U.S. 3rd Fleet in June 2021, leading a combat-ready force of more than 68,000 people, 100 ships and 400 aircraft stationed throughout California, Hawaii and Washington.
He is scheduled to report to his new assignment as director for strategy, plans and policy, J-5, Joint Staff, and for appointment as senior member of the Military Staff Committee of the United Nations in Washington, D.C.
Boyle previously served as the director of maritime operations at U.S. Pacific Fleet. As Third Fleet commander, he will lead the Combined Task Force for RIMPAC 2022, scheduled to be held from June 29 to Aug. 4.
Netflix-style algorithm builds blueprint of cancer genomes
By Liezel Labios
The science behind predicting your viewing habits on Netflix could one day be used to guide doctors in managing some of the hardest-to-treat cancers, shows a study led by the University of California San Diego and University College London.
The researchers used artificial intelligence to analyze and categorize the size and scale of DNA changes across the genome when cancer starts and grows. By analyzing genomes from 9,873 patients with 33 types of cancer, the scientists found 21 categories of common changes to the structure and number of chromosomes in the genetic material of tumors.
These categories of common DNA changes, known as copy number signatures, could be used to build a blueprint to predict how a cancer is likely to progress and design the most effective treatments for it. The findings are reported in a paper published June 15 in Nature.
“Cancer is a complex disease, but we’ve demonstrated that there are remarkable similarities in the changes that happen in chromosomes when different cancers start and grow,” said Ludmil Alexandrov, a professor of bioengineering and cellular and molecular medicine at UC San Diego, who is a co-lead author of the study.
North San Diego Business Chamber
elects new board of directors for 2022-2023
Stacey Hrountas, CEO of Sharp Rees-Stealy Medical Centers, will continue her second term as chair of the board of directors of the North San Diego Business Chamber for 2022-2023. Joe Leventhal, office managing partner for Dinsmore and Shohl LLP, was elected to the position of chair- elect.
The board on May19 elected seven new officers who will begin their terms on July 1:
• Lee Wills, chief diversity officer, ASML
• Scott Norum, senior director research and site leader, HP Inc.
• Kristin Gaspar, president/CEO, Palomar Health Foundation
• Rob Latta, partner, Jones Day
• Joe Britton, regional public affairss manager, SDG&E
• Susan Miller, senior director, technical oversignt and reporting, Oracle
• Sanjiv Prabhakaran, president, Bytes Inc.
The remaining members of the board for the 2022-2023 term:
• Neal Manowitz, president/COO, Sony Electronics Inc.
• Denise Visconti, shareholder, Littler Mendelson
• Nick Torres, partner, Hochman Torres LLP, CPA
• Jamie Lemon, general manager, Rancho Bernardo Inn
• Lisa Peterson, director, San Diego Zoo Safari Park
• Eric Cutler, chief data officer, TOOTRiS On-Demand Child Care
• Sarah Hassaine, director of diversity, ResMed
• Jean Loo-Russo, chief philanthropy officer, The Elizabeth Hospice
• Fred Nasseri, owner, Unicorn Jewelry & Watch Boutique
• Stacy Rungaitis, executive director, Palomar College Foundation
• David Shields, president, Component Surfaces Inc.
• Jana Vargas, director of procurement, San Diego Regional Airport Authority
• Evan Wahl, director project management and site strategy, Catalent Pharma Solutions
Board votes to oversee program where
homeowners create fire-resistant homes
The County Board of Supervisors voted unanimously Tuesday to establish a Home Hardening Program as part of a state pilot program to encourage homeowners to create fire-resistant homes.
San Diego County is one of three counties selected to take part in the California Wildfire Mitigation Program which will fund the County initiative. In December, the Board accepted a $250,000 CAL FIRE/CAL OES grant for the development of the program. CAL FIRE/CAL OES has since approved the County’s nearly $25 million grant request to implement the 3-year program. The funding is expected in the fall which will allow the project to officially kick off.
National University announces plan to train
staff as coaches to boost student success
National University announced a new initiative aimed at improving student outcomes by training hundreds of staff and advisers to apply one-on-one success coaching in their outreach and communication with students. With capacity-building and training support from the national student success nonprofit InsideTrack, the university will work over the next three years to create an in-house coaching program to help more adult learners overcome barriers to success and completion.
The innovative coaching initiative is part of National University’s effort to serve a highly diverse population of students that reflect the shifting demographics of students in higher education today. Approximately 70 percent of NC’s students take the majority of their classes online. More than 25 percent identify as Hispanic, and 10 percent identify as Black. More than 80 percent of undergraduates are transfer students.
The expansion of the coaching program builds on a successful collaboration with InsideTrack focused on reaching students at risk of academic failure.
Fairgoers purchase tickets online
More than 150,000 fairgoers have visited the San Diego County Fair during the first five days of its 2022 season, and those who have purchased fair admission, concert tickets, and parking passes have done so in advance online, allowing them to better plan their day and streamline parking access.
With the purpose of giving guests additional flexibility and more buying options, all tickets and passes can now be purchased at the fairgrounds with the use of a debit or credit card. While the Fair encourages purchasing all tickets and passes in advance online to avoid waiting in line, on-site availability will accommodate guests who prefer a more traditional system. For all ticket options, visit sdfair.com/tickets.
Best of North County Party returns to Carlsbad
The Best of North County Party returns to Carlsbad for a sunset celebration with the top restaurants, bars, breweries, and businesses in North County. Guests will dine on unlimited food tastings prepared by local chefs paired with sips of craft beer, cocktails, wine, and more. The Friday evening event is hosted in the lush gardens of the Carlsbad Flower Fields with vignettes of live music, lounges, photo-ops, and boutique pop-up shops. Start your weekend with a fun-filled evening at the Best of North County Party!
Tickets are limited and will sell out. This is a 21+up event. No exceptions.
Plenty of free parking is available, but hitching a ride via ride share, taxi, or designated driver is always our best recommendation so you can enjoy the event to the fullest.
Click here for more information and tickets
Applications sought for county’s Citizens’
Law Enforcement Review Board
The County of San Diego Citizens’ Law Enforcement Review Board is seeking applicants to fill an opening on the board. CLERB was established in 1990 to investigate citizen complaints against San Diego County Sheriff’s deputies and probation officers.
The vacancy is in Supervisorial District 3. The area covers the coast ranging from Carlsbad south to Coronado, includes some City of San Diego communities and runs east to include Harmony Grove, Rancho Peñasquitos and Mira Mesa.
The 11 members of CLERB include two from each of the five supervisorial districts. The eleventh is chosen at large from any of the five districts. The County Board of Supervisors appoints CLERB members for three-year terms that are staggered beginning on July 1 and ending on June 30.
CLERB also investigates deaths in connection with the actions of sworn deputies and probation officers. The review board makes advisory findings on complaints, and recommends policy and procedure changes to the Sheriff, Chief Probation Officer and the Board of Supervisors.
The Clerk of the Board will take applications until July 14.
USD to host Fowler Global Social
Innovation Challenge Finals
The University of San Diego’s Joan B. Kroc School of Peace Studies is hosting the Fowler Global Social Innovation Challenge Finals on Saturday, June 18, 2022. The Fowler GSIC is an opportunity for student social entrepreneurs to build an international network while competing for seed funding. The top 8 out of more than 40 teams from universities around the world will deliver a 90-second pitch of their innovative sustainable business solutions to global issues for a chance to earn a portion of more than $75,000 in seed funding.
Two teams from USD are competing in the event:
• Tabitha Nakholi founded the Wezesha Binti Foundation, which aims to address period poverty for girls and women in Kenya. Nakholi’s solution is to create a menstrual care kit containing feminine products made by Kenyan women for Kenyan women.
• Steffek Rainey created Envi Bottle, which aims to tackle plastic pollution in our oceans. Rainey designed an insulated water bottle with a compartment to store foldable stainless-steel utensils, a reusable straw and nylon bag.
Netradyne announces partnership with Boyle Transportation
Netradyne, a San Diego company leading in artificial intelligence (AI) and edge computing focusing on driver and fleet safety, announced a partnership with Boyle Transportation, a specialized transportation logistics provider for life sciences and defense companies. Through the partnership, Boyle Transportation will deploy Netradyne’s vision-based Driver•i safety camera platform throughout its fleet of vehicles.
Headquartered in Billerica, Mass., Boyle Transportation applies comprehensive, proactive systems to ensure the safe and secure transport of critical cargo. Boyle Transportation specializes in transporting sensitive commodities for the U.S. military and life-saving medicine for pharmaceutical and biotechnology companies. Notably, Boyle was one of the first to transport the COVID-19 vaccine from Pfizer’s Global Supply manufacturing plant to distribution points across the country with their specialized temperature-controlled trucks.
