Daily Business Report — January 8, 2010
San Diego Radio Station Market Churns Again
Local Media of America, an affiliate of private equity firm Thoma Bravo LLC, has acquired San Diego-based Finest City Broadcasting, operator of three radio stations serving the San Diego market. The transaction was completed in partnership with The Broadcast Company of the Americas, which operates three other stations in that market. LMA earlier had purchased the debt of Finest City Broadcasting and acquired the company and its assets through a foreclosure sale.
John Lynch, CEO of Broadcast Company of the Americas, will hold the same title with Local Media of America.
The six San Diego-area radio stations owned by the two companies will be operated as a group under Lynch’s direction. The Finest City Broadcasting stations include: Magic 92.5, XHRM FM, Z-90 XHTZ FM, and 91X XETRA FM. BCA operates: XX Sports Radio XEPRS AM, the Walrus XHPRS FM, and San Diego 1700 XEPE AM.
“The Finest City Broadcasting stations, coupled with BCA’s leading stations, create a powerful cluster of broadcasters in the San Diego market and provide a tremendous growth opportunity for LMA,” said Lynch in a prepared statement. “With a focus on creating local media platforms led by radio broadcasting, our group of stations is highly attractive to advertisers. With Thoma Bravo’s support, we look forward to examining future investment opportunities in the San Diego area and across the nation.”
With the acquisition, Lynch returns to 91X XETRA FM, a station he founded in 1983 through a company he previously owned called Noble Broadcasting Group. Lynch sold Noble to Jacor Communications broadcast group in 1996. Jacor was subsequently sold to Texas-based Clear Channel Communications, which then sold it to Finest City.
RBC Daniels and Preferred Capital Advisors served as the financial advisers for the transaction. Goodwin Procter LLP, K&L Gates LLP, Garvey Shubert Barer, DLA Piper, Akin Gump Strauss Hauer & Feld LLP and Cervantes-Quijano Abogados provided legal counsel.
USD Index
The University of San Diego’s Index of Leading Economic Indicators for San Diego County was unchanged in November. Two of the components —consumer confidence and the outlook for the national economy — were up sharply during the month, and there was also a small increase in help wanted advertising. On the downside, local stock prices took a big tumble during the month. Building permits and initial claims for unemployment were also negative, but there were only slight declines in those components. November’s unchanged reading broke a string of seven consecutive increases for the USD Index. November’s Index was 103.7, unchanged from October.
Defense, Veterans Affairs Step Closer to Integrated Records
The Defense Department soon will join a Veterans Affairs Department and Kaiser Permanente partnership designed to improve the way military veterans and the nation receive health care. For the past month, Kaiser Permanente and VA — the nation’s two largest electronic medical records systems — have been working to integrate their standards for veterans through a pilot program in San Diego using the Nationwide Health Information Network. The network was developed by the Health and Human Services Department in 2008, and allows government and several private sector health care providers like Kaiser to share health exchanges such as integrated delivery networks, pharmacies, labs and patient information. More than 400 San Diego veterans are participating in the pilot.
The partnership has been successful so far and is the culmination of decades of work in the medical community, according to Dr. Stephen L. Ondra, senior VA policy adviser for health affairs, speaking at a press conference from Kaiser Permanente’s Otay Mesa Outpatient Medical Center in San Diego. The Defense Department plans to join those efforts in San Diego within the first quarter of this year, he said.
Equity And Environmental Justice
Citizens Coordinate for Century 3 will host a Jan. 21 breakfast dialogue titled “Are the Tides Turning on Equity and Environmental Justice in San Diego Planning?” in the Harborside Room at the Holiday Inn Embarcadero, 1355 North Harbor Drive in Downtown. Registration is at 7:30 and the program runs from 8-9:15 a.m. Environmental Justice is a social movement that seeks to protect those who have borne the brunt of environmental hazards. Panelists include Diane Tarkvorian, executive director, Environmental Health Coalition; Jennifer Vanica, president and CEO, Jacobs Family Foundation and Jacobs Center for Neighborhood Innovation; and Murtaza Baxamusa, director of research and policy, Center on Policy Initiatives. Nico Calavita, professor emeritus, SDSU Graduate Program in City Planning, will serve as moderator. Cost for the continental breakfast and program is $20 for members and $25 for nonmembers. Cost at the door is $35 for all. For reservations, call (619) 232-7196.
Director Named for Clean & Safe Program
John Hanley has been named the new executive director of the Downtown San Diego Partnership Clean & Safe Program. Hanley was director of finance for the Downtown Partnership since last March and held the same position for the Clean & Safe Program from March 2004 to September 2008. In between working for the Clean & Safe Program and the Downtown Partnership, Hanley served as the controller for the LWP Group where he managed all financial and accounting activities for the six companies within LWP. Hanley has a bachelor’s degree in hotel and restaurant management from the University of Wisconsin.
The Clean & Safe Program provides maintenance and safety-related services in the Downtown public-right-of-way above and beyond what is provided by the city of San Diego. The Clean & Safe service area covers 272-blocks in five neighborhoods; Core Columbia, Cortez, East Village, Gaslamp Quarter and Marina. With a $5.9 million budget, the Clean & Safe Program provides maintenance services such as trash removal, sidewalk power washing, landscaping and tree maintenance. Safety services include serving as eyes and ears to the San Diego Police Department to report ongoing criminal activity, providing directions to Downtown visitors and working with social service providers and the homeless community.
Colliers International Adds Associate
Evan McDonald has joined Colliers International as an associate, focusing on the leasing and sales of industrial and office properties within central San Diego County. Prior to joining the San Diego office of Colliers International, McDonald was affiliated with Lee and Associates. McDonald graduated from UCSD and was an affiliate of the UCSD baseball team.
La Jolla Institute Creates New Science Position
Amnon Altman, a scientist and longtime faculty member at the La Jolla Institute for Allergy & Immunology, has been appointed to the newly created position of director of scientific affairs. Altman will assist President and Chief Scientific Officer Mitchell Kronenberg with expanding management activities related to the institute’s recent growth. Altman will oversee the management of several components of the Institute’s scientific research infrastructure, scientific operations and scientific affairs.
Mortgage Company Signs $1.15 Million Lease
W.J. Bradley Mortgage Capital Corp. has signed a 65-month lease valued at $1.15 million for 5,500 square feet of office space at 12255 El Camino Real, Suite 150, in Del Mar Heights. The company will open its new office in March. The building is 99 percent leased. Other tenants include Premier Inc., Sheppard Mullin, First Business Bank, Jones Day and Pillsbury Winthrop. The lessee represented itself. The lessor, Union Investment Real Estate GMBH, was represented by Steve Wolf and Brunson Howard of Cushman & Wakefield.
Woodstock’s Pizza Coming to Pacific Beach
Woodstock’s Pizza, a landmark in the SDSU area for 25 years, is opening a new location in Pacific Beach. Build-out has begun on the new restaurant, which will be located next to Trader Joe’s, at 1221 Garnet Ave. The anticipated opening will be in February. Owners Jeff and Laura Ambrose, residents of Pacific Beach for more than 20 years, maintain their administrative offices in the beachside community. Woodstock’s will have nearly 4,000 square feet of space and offer dine-in, take-out and delivery services and plan to be open until 3 a.m. Thursday through Saturday. As with the SDSU location, Woodstock’s will host weekly pint nights and trivia nights, along with lunch and late night deals.
Federal Contract Awards
• General Atomics Aeronautical Systems Inc. in Poway won a $127,150,940 contract from the U.S. Air Force Materiel Command, Wright-Patterson Air Force Base, Ohio, for aircraft and airframe structural components. (Source: Targeted News Service)
Grant Celebrating 100th Anniversary
The U.S. Grant Hotel is beginning its 100th anniversary celebration by launching a “What’s Your Story” blog, inviting people to share memories of the hotel. Stories can be posted at http://www.usgranthotelstories.com. Initial postings range from a postcard sent with a 1-cent stamp by a guest in 1941, to digital images posted on Twitter in 2009. Beginning in February one story will be chosen from the previous month’s posts by Doug Korn, general manager, along with key hotel staff members, and announced on the 15th via the hotel’s blog, Twitter and Facebook. The monthly winner will receive a two-night stay at the hotel and be eligible for the grand prize package. The hotel is the property of the Sycuan Band of the Kumeyaay Nation. For more, call (619) 232-3121.
Events Worth Your Attention . . .
All People’s Breakfast Jan. 18 — The 22nd annual All People’s Breakfast, a celebration of the life and legacy of Dr. Martin Luther King Jr., will be held at 7:30 a.m. on Jan. 18 in Golden Hall at the San Diego Concourse Downtown. The celebration is hosted by the YWCA of San Diego County. The theme is “Living the Dream.” The program will focus on youth and include performances from The Gospel Signing Choir, Collective Purpose and Eveoke Dance Theatre. There will be a community space where attendees will have an opportunity to learn about local social justice and advocacy organizations. Speakers will be Ashley Walker, chair of the 2010 All Peoples Breakfast Dream Team-Host Committee; Christopher Yanov, founder of Reality Changers; and Rustin Lewis, president of the National Cares Mentoring Movement.
The 2010 All People’s Breakfast is sponsored by Qualcomm, ACLU of San Diego and Imperial Counties, Sycuan Casino, San Diego Community College District, Sempra Energy, Unified Port of San Diego, Tariq Khamisa Foundation and the Inspire Fund. For more information, call (619) 209-8241 or visit allpeoplesbreakfastsd.org.
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San Diego Sunroad Boat Show Jan. 28-31 — The San Diego Sunroad Boat Show, successor to the event previously sponsored by the National Marine Manufacturers Association, will be staged Jan. 28-31 at the Sunroad Resort Marina on Harbor Island. The new Sunroad Boat Show will feature on land and in water locations, focusing on the latest boats and marine equipment. Its new location puts the show on the east end of Harbor Island with free shuttle transports. There will be more marina space, giving more dealers slips to showcase their boats. Show hours are: Jan. 28, noon-6 p.m.; Jan. 29, noon-6 p.m.; Jan. 30, 10 a.m. – 6 p.m.; and Jan. 31, 10 a.m.-6 p.m. Entrance fees are $10 for adults and $5 for children ages 12 to 16. Children under 12 are free. For more information, please call (619) 497-5254 or visit bigbayboatshow.com.
After the National Marine Manufactures Association decided to shutter the annual show last year, Sunroad Marina stepped in to build a new show. With the demise of the previous Convention Center boat show, The Port of San Diego is supporting the new San Diego Sunroad Boat Show as the presenting sponsor.
Business Datebook
Jan. 11
SEMINAR: Foothills Bar Association’s seventh annual “Hard to Get” MCLE Credits Seminar, 5 to 9 p.m., La Mesa Community Center, 4975 Memorial Drive, La Mesa. Speakers include Brian Forbes, Julie Greenberg, Mattheus Stephens, and M. David Meagher. 3.5 hours MCLE Credit. $50, FBA members, $65, nonmembers. Download registration form at : lawyersclubsandiego.com/associations/4937/files/FBA.MCLE.form.pdf.
Jan. 13
BREAKFAST PANEL: The 2010 San Diego Retail Market Forecast sponsored by the International Council of Shopping Centers. Local retail experts discuss what to expect in 2010 and how to survive. Moderator: Mike Clark, ICSC, San Diego program committee chair. Marriott Del Mar, 11966 El Camino Real, San Diego. 7:30 a.m. registration, program at 8 a.m. Members $45 to $60; nonmembers $60 to $75. Registration information at (646) 728-3800.
Jan. 14
REAL ESTATE PANEL: Residential real estate leaders will gather for an annual forecasting event at 5 p.m. at the Del Mar Hilton, 15575 Jimmy Durante Blvd., Del Mar. The program, “Positive Again in 2010,” is presented by the Sales & Marketing Council of the San Diego Building Industry Association. Moderated by Pete Reeb of Reeb Development Consulting. Cost is $65 for BIA members and $85 for nonmembers. Dinner, 6 p.m., program, 7 p.m. For more information or to register, visit http://www.biasandiego.org/eventsupcoming.php?key=91 or call (858) 450-1221, Ext. 101.
WORKSHOP: CONNECT workshop on “Establishing an Effective Bioscience IP Portfolio,” held in partnership with Pillsbury Winthrop Pittman Shaw LLP. The workshop will cover basic elements of developing a commercially meaningful intellectual property portfolio for a bioscience company. 8 a.m. to 1:30 p.m., offices of Pillsbury Winthrop Shaw Pittman,
12255 El Camino Real, Suite 300, San Diego. Light breakfast will be provided; optional lunch. $45. For more information, call (858) 964-1312.
PRESENTATION: Jeff Morgan, president and CEO of the National Investor Relations Institute (NIRI), speaks to the San Diego NIRI chapter at Leap Wireless, 5887 Copley Dr., San Diego. Networking reception at 5 p.m. presentation, 5:30 to 7 p.m. Morgan will speak on the NIRI and the state of the industry. Admission is $45 for members and $60 for nonmembers if registration is received before 5 p.m. on Jan. 11. The cost for late or on-site registrations is $55 for members and $70 for nonmembers. Register by e-mail at: rsvp@nirisandiego.org.
Jan. 19
BREAKFAST TALK: Jeff Moorad, vice chairman and CEO of the San Diego Padres, will give a talk on the recent Padres franchise deal at the Jan. 19 meeting of the San Diego chapter of the Association for Corporate Growth. It will be from 7 to 9 a.m. at the Doubletree Hotel Hazard Center, 7450 Hazard Center Drive, San Diego. ACG San Diego members are free; others are $50. To reserve, visit acteva.com/go/acgsd. For more information, call (619) 741-7247.
Jan. 19
FORUM: San Diego Mayor Jerry Sanders will discuss past, present and future city government reforms that will shape the region in NAOP San Diego’s fourth annual Breakfast with the Mayor program. Marriott San Diego/Del Mar, 11966 El Camino Real, San Diego. Registration at 7:30 a.m., program runs from 8 to 9:15 a.m. $40 for members, $60 for nonmembers. Attendees may pay online at naiopsd.org. NAOP San Diego is a chapter of the Real Estate Development Association.
Jan. 20
WORKSHOP: “Unlocking the Secrets: the Power of Strategic Alliances” sponsored by the San Diego Regional Chamber of Commerce. A 90-minute training course to be successful in the chamber’s complementary referral program, the Business Alliance. Chamber HQ, 402 West Broadway, Suite 1000, San Diego. No charge. Reservations required. To reserve, e-mail Erin Chapman at echapman@sdchamber.org or call (619) 544-1382.
CONFERENCE: San Diego Society for Human Resource Management’s annual Law Day Conference focuses on employment law, compliance and legislative issues facing today’s workplace. 7:30 a.m. to 3:30 p.m., Hilton La Jolla Torrey Pines, 10950 North Torrey Pines Road, La Jolla. $129 for members, $189 for nonmembers. To reserve and for more information, visit sdshrm.org or acteva.com/go/sdshrm.
FORUM: “TelCentris: Generating Revenue from a Market Used to ‘Free,’”
5 to 8 p.m. Salk Institute, 10010 North Torrey Pines Rd., La Jolla. Sponsored by MIT Enterprise Forum San Diego. For more information, visit sdmitforum.org.
Jan. 21
LUNCHEON: Lawyers Club of San Diego monthly luncheon, noon to 1:15 p.m., Bristol Hotel, 1055 First Ave., Downtown San Diego. Doors open at 11:45 a.m. Members $25. Nonmembers $30. Make reservations to rsvp@lawyersclubsandiego.com.
LUNCHEON: Annual installation luncheon of the Downtown San Diego Partnership. 11:30 a.m. check-in, program at noon, Hard Rock Hotel, Downtown San Diego. For information, call Sheri Snead, (619) 234-0201 or e-mail her at ssnead@downtownsandiego.org.
WORKSHOP: Presentation workshop sponsored by BIOCOM, 8:30 a.m. to 5 p.m., at BIOCOM, 4510 Executive Drive Plaza 7, San Diego. Provides opportunity for practice, feedback, videotaping and one-on-one coaching for each participant. Each participant will present three times, be videotaped and receive group and one-on-one feedback. For information, call Kristie Grover, (858) 455-0300.
PANEL TALK: Citizens Coordinate for Century 3 hosts a breakfast dialogue, “Are the Tides Turning on Equity and Environmental Justice in San Diego Planning?” Harborside Room, Holiday Inn Embarcadero, 1355 North Harbor Drive, Downtown San Diego. Registration 7:30 a.m. Program runs from 8 to 9:15 a.m. Cost for the continental breakfast and program is $20 for members and $25 for nonmembers. Cost at the door is $35 for all. Student admission is $10. For reservations, call (619) 232-7196.
Jan. 26
WORKSHOP: “Unlocking the Secrets: The Art of Giving a Presentation,” a training course sponsored by the San Diego Regional Chamber of Commerce. 8 to 9:30 a.m., San Diego Regional Chamber of Commerce, 402 West Broadway, Suite 1000, San Diego. Learn how to show off what you do and share what makes your business, product or service unique. For more information, call (619) 544-1382.
Jan. 27
WORKSHOP: The San Diego chapter of the International Association of Business Communicators holds a special workshop/learning session on “The New Rules of Engagement: How Communicators Shape Leaders’ Thoughts and Actions.” Speaker is Mark Schumann, principal of Towers Perrin and 2008-09 chair of the IABC. 11:30 a.m. to 1 p.m., learning session and lunch; 1 to 2 p.m., roundtable workshop. Doubletree Hotel San Diego/Mission Valley, 7450 Hazard Center Drive, San Diego. Register by Jan. 21 and its $40 for members, $50 for nonmembers. Register afterwards, its $50 and $60, respectively.
Feb. 3
ANNUAL DINNER: The 139th annual dinner of the San Diego Regional Chamber of Commerce, 5-8 p.m., Town and Country Resort & Convention Center, 500 Hotel Circle North, Grand Exhibit Hall. $150 individual registration. Highlights include induction of the 2010 chairman of the board, Tom Wornham of Wells Fargo, and the board of directors, and presentations of the Spirit of San Diego, Courageous Leadership and Regional Unity awards. For more information, call Katie at (619) 544-1370.
Feb. 16
CELEBRATION: The Asian Business Association of San Diego holds its 16th annual Lunar New Year Celebration featuring Lucky Lion Dancers, a casino night with prizes and Chinese cuisine. 5:30 to 8:30 p.m., dinner from 6:15 to 7:15 p.m., no-host bar, Fat City Steakhouse/China Camp Restaurant, 2137 Pacific Coast Highway, San Diego. Cost: before Feb. 16, $30 to ABA members, $35 for nonmembers; at the door, $40 members and nonmembers. Register online at abasd.org. For more information, call (858) 277-2822.
Feb. 27
WORKSHOP: The San Diego chapter of the American Society of Interior Designers sponsors a “Day with Designers,” a public workshop to provide information on practical interior design basics and how to select an interior designer, among other tips. 9 a.m. to 2 p.m. at the Art Institute, 7650 Mission Valley Road, San Diego. Advanced tickets available for $35 by visiting ASIDSanDiego.org. Tickets at the door are $45. For more information, call (858) 646-9896.
The Daily Business Report is produced by REP Publishing Inc., publisher of San Diego Metropolitan magazine and the North Park News. (619) 906-4104
