DOWNTOWN
Nancy Graham has resigned, effective immediately, as CCDC's president. Graham cited family and personal reasons for leaving. “Nancy has been a tremendous asset to our city and a true champion for downtown’s redevelopment since her arrival from Florida in 2005,” says Mayor Jerry Sanders. “Her ideas and innovative approach to focusing on the public realm have set in motion many important projects that will positively enhance downtown for years to come.”
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The San Diego Regional Chamber of Commerce board voted Thursday (July 24) to oppose the November ballot initiative that would amend the Port Master Plan regarding the Tenth Avenue Marine Terminal. The initiative would open up the area for recreational uses, hotels, pedestrian pathways, double decking to accommodate industrial and, possibly, a new stadium. The board expressed concerns over the "Port of San Diego Marine Freight Preservation and Bayfront Redevelopment" initiative’s alleged negative impacts on the safeguarding of waterfront jobs and maritime operations, as well as potential conflict with Navy operations. The measure qualified for the ballot this week.
DEFENSE
Cubic Corp. says it is reducing its defense segment workforce by 2.2 percent -- or 105 employees -- all from its San Diego facility. Five corporate employees also were let go. The company says the reductions are the result of a cost-cutting effort to streamline operations and enhance competitiveness. Employees were notified on Wednesday (July 23).
Affected employees will receive severance pay and outplacement assistance as well as company paid medical coverage for a defined period based on years of service.
"While this action is necessary to the continued health of our defense business, it is still a difficult transition," says Cubic spokesman David Liddle. "Workforce reductions are a painful part of the process of keeping a business competitive."
Cubic Corp. is the parent of two major business segments: transportation and defense. The Cubic Defense Applications group develops and integrates systems and services for warfighters at home and in the field. The Cubic Transportation Systems group provides state-of-the-art mass transit solutions used by commuters around the world..
REAL ESTATE
KBS Realty Advisors has sold the Paseo Del Mar office complex in Del Mar Heights for $147.9 million -- or $636.45 per square foot -- after acquiring it in January 2007 for $120 million -- or $516 per square foot. The property consists of three three-story office buildings, each with one level of subterranean parking. The buildings are at 12255, 12265 and 12275 El Camino Real.
The buyer is a fund advised by Metzler North America. Lynne LaChappelle and Robert Prendergrast of Jones Lang LaSalle represented KBS in the transaction.
"With respect to location, design and demographics, Paseo Del Mar is one of the finest trophy suburban office properties in the western United States," says Steve Jarecki, senior v.p. of KBS.
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Johnson & Jennings General Contracting has finished construction of the new San Diego National Bank branch office in Scripps Ranch. The 2,575-square-foot branch is located at 10020 Scripps Ranch Blvd. Exterior construction included expansion of the building’s footprint to accommodate a new server and ATM room and the addition of a drive-up ATM/Night Drop and drive-up pneumatic tube teller station. Exterior work also included new concrete sidewalks, asphalt driveways, all new landscaping and the whale mural painted on the exterior wall. Interior work included demolition of existing offices, ceilings, flooring, HVAC ductwork, light fixtures and millwork. New interior construction included individual offices, light fixtures, a break room, storage room, ceiling system and custom millwork.
Jim Lohnes served as project manager for Johnson & Jennings, with Lupe Gomez as onsite project superintendent. Nancy and Rick Suda of Studio Suda provided design services. Bill Hooper, v.p. of corporate real estate, served as project manager for San Diego National Bank. Subcontractors included Casper Company, J&S Asphalt Paving Sealing & Striping, CPE Construction Inc., Davis Framing, Trimm Woodworking, American Insulation, McBride Door & Hardware Inc., Cass Plumbing, Custom Interiors, Quality Paint & Wallcovering, Prism Flooring, East County Tile, Wall Dimensions, B&B Acoustics, Control Air Corp. and Enercomm.
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LBA Realty, a real estate investment and management company based in Irvine, has named John Garrigan to serve as leasing director for its San Diego region. Garrigan will be responsible for the marketing and leasing of the firm’s properties throughout the San Diego area. Garrigan comes to LBA from the San Diego office of Cruzan | Monroe, where he served as portfolio leasing director. Prior to that, he was a commercial real estate broker at CB Richard Ellis.
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The Jackson Drive Group (JDG), a general partnership, has sold the commercial property at 7404-7424 Jackson Drive in San Diego for $3.5 million. The property consists of a 12,220-square-foot multi-tenant professional building and a free-standing 6,500-square-foot Bank of America branch. the property was 100 percent leased at close of escrow. The Jackson Group, with managing partners Francis T. Kleber, William C. Thompson and Kenneth M. Shipstead, will be dissolved. JDG was represented by Scott Collins and Gina Coldani of NAI San Diego. The buyer, 7404-7424 Jackson Drive TIC, represented itself.
DESALINATION
The California Coastal Commission will hold an Aug. 6 public hearing and vote to finalize approval for Poseidon Resources’ Carlsbad desalination project. The hearing is expected to bring to an end the commission’s two-year approval process. It will be held in the Oceanside City Council Chambers, 300 North Coast Highway, in Oceanside. The project is the first item on the commission’s 9 a.m. agenda.
In November 2007, the commission approved the desalination project’s coastal development permit and attached two conditions. Poseidon Resources developed an energy minimization and green house gas reduction plan and a marine life mitigation plan that address the conditions. Poseidon will restore up to 42.5 acres of wetland habitat and also has committed to serve as the steward of the Agua Hedionda Lagoon once the Encina Power Station is fully decommissioned. The Carlsbad desalination plant will be the first major infrastructure project in the state to voluntarily eliminate its net carbon footprint.
A copy of Poseidon’s energy minimization and green house gas reduction plan and marine life mitigation plan can be found at http://www.carlsbad-desal.com/environmental_stewardship.asp.
MANUFACTURING
Green Mountain Development Corp. in Carlsbad, an incubator of green technology companies, has issued a term sheet for the merger/acquisition of EcoCover California Inc. (ECI), a startup manufacturing company of organic mulch products made from recycled waste paper for agricultural, landscaping, horticultural and land management use. Under Green Mountain’s terms, it would acquire 60 percent of the outstanding stock of ECI upon raising $2.5 million in funding. ECI would become a subsidiary of Green Mountain in the deal, which would be formalized by Oct. 31.
"Originally developed, tested, launched and successfully established in New Zealand, the EcoCover story is now being extended into the global market and an opportunity exists to establish an EcoCover manufacturing facility, fully equipped and commissioned, in the California market territory," says Robert Brehm, CEO of Green Mountain. "Once the initial capital is raised and the first facility has been established, it is our intention to roll out multiple manufacturing facilities across California and beyond. We believe the business model of ECI and its shareholders and employees could be a strong contributing factor to the future success and growth of both ECI and GMND as a combined business entity."
EDUCATION
Eighteen graduates of USD’s Master of Science in Global Leadership program will receive their degrees today at 2 p.m. in the Joan B. Kroc Institute for Peace & Justice Theatre. The class includes 11 military officers from the Navy, Marine Corps and Air Force. Seven of the 11 officers have served in Iraq and Afghanistan. Three of the seven civilian graduates are natives of other countries including Australia, Kenya and Turkey.
Graduates of the program are Ianthe Andress, Michael Bukolt, Emily Butali, Matthew Cole, Joseph Fiksman, John Greene, Daniel Hannum, Siddhartha Herdegen, Daniel Hubert, Adam Johnson, Gregory Knutson, Ahmet Kucuk, Timothy Loy, Scott Maloney, Dara Manning, Matthew Muga, Franz Rozsnyoi and Jonathan Stock.
The 16-month program focuses on leadership and ethics, the global political environment and best business practices along with cultural understanding and the role it plays in leadership across international boundaries.
Jaime Alonso Gómez, founding dean of the Graduate School of Business Administration and Leadership at the Tecnológico de Monterrey (TEC) in Monterrey, Mexico, will address the class. TEC is USD’s partner for its dual-degree master’s program in international business and student and faculty exchanges.
MARITIME
NASSCO has begun construction of the third ship in a series of nine product carriers for U.S. Shipping Partners under a $1 billion contract for the nine ships. The shipyard is scheduled to lay the first ship’s keel in November and deliver it to Shipping Partners in the fourth quarter of 2009. The product carriers are designed to carry petroleum and chemical products in Jones Act trade between United States ports. The ships will be double-hulled, 183 meters (600.4 feet) in length and can carry cargo weighing up to 49,000 tons.
Third ship will be named "Sunshine State" in honor of the state nickname of Florida.
HOSPITALITY
The Shores Restaurant in La Jolla has hired Lisa Redwine as restaurant manager. Redwine has more than 10 years of experience in the food and beverage industry in managerial capacities, most recently at Molly’s Restaurant & Bar at the Marriott Hotel, San Diego, where she served as general manager and hotel wine director. Redwine also has worked for the The Kimpton Group and the Cypress Club in San Francisco. She holds a degree in hotel and restaurant management from the University of Wisconsin.
NONPROFITS
Floresta, an international Christian charity based in San Diego, has expanded its programs in Thailand and Kenya to halt deforestation and improve lives. Executive Director Scott Sabin said the growing need for long-term environmental restoration and spiritual outreach worldwide is fueling Floresta’s growth. "Christians are sensing an urgency to transform the lives of the world’s poor by helping them restore their forests, learn farming skills and obtain loans. At the same time, more churches want to partner with us, bringing increased donations that support our expanded services," says Sabin.
The new Kenya program located on Rusinga Island in Lake Victoria includes training in bio-intensive agriculture and goat farming. Families who receive the goats are expected to multiply their herds to share with other villagers. In Thailand, a two-year-old program in Huay Pong is expanding thanks to success with soil conservation, tree planting, water cisterns and micro lending. "The loans allow women to purchase supplies needed to sell their native weavings and tapestries," Sabin says.
Floresta measures top poverty indices around the world to identify countries with severe deforestation, poor soil quality, fuel consumption that is mostly firewood and people living on less than $1 per day. "We work in countries with the greatest need that will benefit the most from our unique expertise," says Doug Satre, director of outreach and development. Based on its research, Floresta will begin this fall to explore opportunities to help villages in the African nation of Burundi. "We continue to measure the impact of our programs to ensure that we are changing lives for the better. As environmental concerns mount across the globe, Floresta has seen a spike in support from donors wanting to take better care of the earth that God created," says Satre.
Floresta can be reached at (858) 274-3718.
FUNDRAISERS
St. Paul’s Senior Homes & Services will hold its 25th annual LUV Gala Sept. 20 featuring this year’s honorees radio personality Mark Larsen and philanthropist Marie Tuthill. The theme is "Silver and Spurs."Tickets for the event are $175 until Sept. 5 and $200 thereafter. The Gala features silent and live auctions, dinner, entertainment and dancing to the sounds of Society Beat. Channel 10 Anchorwoman Carol LeBeau will serve as the master of ceremonies and the attire is black-tie optional or "rhinestone cowboy." Proceeds from the event benefit the programs and services of St. Paul’s Senior Homes & Services. For more information, contact foundation coordinator Nancy Loevinger at (619) 239-6900.
PUBLISHING
The Copley Press Inc., publishers of The San Diego Union-Tribune, has hired an investment banker to explore future options for the company, including its possible sale. Evercore Partners, a New York-based investment banking firm, represented Copley Press in the sale of the newspapers it previously owned in Los Angeles and the Midwest. Those sales were completed in 2006 and 2007.
"The last couple of years have been a difficult period for the newspaper industry, especially those in a real estate-dependent market like San Diego," said Harold W. Fuson Jr., executive v.p. of the company, in a press release issued yesterday. "We have every reason to believe the business will rebound with the economy, but the uncertainties pose too great a risk to sit still."
The Union-Tribune has more than 1,000 employees at its Mission Valley headquarters. The newspaper’s average daily circulation Monday-Friday (as of March 31) was 288,669, a 2.59 percent drop from the same period of last year, according to Editor & Publisher magazine. Copley Press put the newspaper’s Sunday circulation at 363,745.