Daily Business Report — July 13, 2010
560 Jobs Eliminated at NASSCO
NASSCO, the last major shipbuilder on the West Coast and preparing to celebrate its 50th anniversay, said Monday that it has eliminated 560 jobs because of a decline in the number of contracts from commercial and government customers. The company, a subsidiary of General Dynamics Corp. in Virginia, said the layoffs affected 290 direct employees and 270 subcontractors and that the cuts have been taking place since May. The company had originally announced potential layoffs of up to 900 employees. NASSCO employment earlier this year was about 4,100.
Study Says Petco Park Stimulates Area Economy
The development of Petco Park exceeded all of the city’s expectations on job creation, sales tax revenue, private investment, increased property values, hotel rooms, commercial space, housing units and property taxes, according to an economic impact study to be released today by the San Diego Regional Economic Development Corp. (EDC). The city and Centre City Development Corp. have seen a direct payback in terms of tax revenues from the ballpark and ancillary development, the study said. Both have leveraged their investment into more than $1.58 billion in private investment, or $5.25 for each $1 of public investment, according to the study. The results of the study are to be made by Bill Rhoda, principal of CSL International, which was commissioned to do the study by the EDC.
Raytheon Gets Navy Contract for San Diego and R.I. Work
Raytheon Co. has been awarded a $14.2 million contract to deliver a combat management system for four U.S. Navy ships and one land-based test facility. The system is designed to expedite the detect-to-engage sequence to defend against anti-ship cruise missiles. Work is to be performed at Raytheon Integrated Defense Systems’ Expeditionary Warfare Center in San Diego and at the Seapower Capability Center in Portsmouth, R.I.
Under the contract, Raytheon will assemble, test and deliver upgraded hardware sets that will be integrated on board the Navy’s amphibious assault ship LHA 7; aircraft carriers USS Truman and USS Ford; the amphibious transport dock ship LPD 26; and the Naval Air Systems Command test facility.
Cuyamaca College Appoints VP of Instruction
Robin L. Steinback has been appointed vice president of instruction at Cuyamaca College. Steinback, who has served as a faculty member, department chair and dean of instruction in community colleges, previously was vice president of academic affairs at Solano College in Fairfield, Calif. She was selected after a national search. “We had talented, articulate candidates with diverse backgrounds and experiences competing for this appointment. Dr. Steinback was tops,” said Arleen Satele, administrator in charge of Cuyamaca College. Steinback’s faculty and administrative experience ranges over 20 years and includes dealing with the rules and regulations governing community colleges, technology, accreditation and community partnerships.
Panel to Discuss Chula Vista Bayfront Master Plan
The Chula Vista Bayfront Master Plan will be the focus of a July 22 panel talk arranged by Citizens Coordinate for Century 3. It will be held in the Harborside Room at the Holiday Inn Embarcadero, 1355 North Harbor Drive, in Downtown San Diego. Registration is at 7:30 a.m. The program runs from 8 to 9:15 a.m.
At 550 acres, the Chula Vista Bayfront Master Plan is one of the largest urban waterfront planning efforts in the country. For eight years, the planning area has been a battleground for organized labor, environmentalists, developers and public agencies, all of whom reached compromises prior to the plan’s approval by the Port and the city of Chula Vista.
Panelists will discuss how the plan will fare as it goes before the State Lands Commission and California Coastal Commission for final approvals. Panelists will be Gary Halbert, Chula Vista’s assistant city manager; Allison Rolfe, director of planning for Pacifica Cos.; and Nicholas DeLorenzo, president of DeLorenzo Inc. Leslie Wade, president of Wade Communications Inc., will serve as moderator.
Cost for the continental breakfast and program is $20 for members and $30 for nonmembers. Student admission is $10.For reservations, call (619) 232-7196.
CEOs Expect to See Increased Revenues and Profits
CEOs of small to medium-sized businesses have lowered their expectations for the pace of growth in the overall economy, but remain confident that they will increase revenues and profits and hire new employees over the next 12 months, according to a survey by San Diego-based Vistage International. “CEOs of small to medium size companies have adjusted to the lean economy, are doing more with less, and have positioned their companies for success,” said Rafael Pastor, chairman and CEO of Vistage International. “Their continued confidence sends a strong message that small and medium sized businesses will be among those who will lead our overall economic recovery.”
LOCAL BUSINESS NEWS
• Energy Innovations Moves to Poway: Energy Innovations Inc., which manufactures solar energy systems, is moving its corporate headquarters and design center from Idealab in Pasadena to Poway. The company will celebrate the move on July 22 with a ribbon-cutting ceremony from 10:30 a.m. to noon at the new headquarters, 14100 Danielson St. Appearing at the event will be Joe Budano, CEO of Energy Innovations; Poway Mayor Don Higginson; San Diego Mayor Jerry Sanders; Assemblyman Nathan Fletcher; and Kevin Carroll, Southern California regional director of TechAmerica.
• O’Riordan & Associates Adds Staff: Estate planning and wealth management firm O’Riordan & Associates has added Katelyn O’Riordan and Juan Barrie to its office team. Family member Katelyn O’Riordan, a graduate of the University of Colorado at Boulder’s School of Journalism, joins the company as the director of health benefits. O’Riordan also is a freelance writer for the North Park News, Kensington News and San Diego Metropolitan Magazine. Barrie has been involved in a variety of business endeavors for more than 20 years, including work in technology, transportation, real estate development and music promotion. The additions were announced by Michael O’Riordan, president and founder of the company.
• Johnson & Jennings Hires Project Manager: Johnson & Jennings General Contracting has hired Tim Heinichen as a project manager to focus on the company’s ground-up, design-build and shell projects. Heinichen has spent 32 years in the industry with project experience in pharmaceutical manufacturing, biotech and commercial office facilities.Previous employment includes multiple years at Grant General Contractors, Good & Roberts and Grahovac Construction. Heinichen is wrapping up the Johnson & Jennings’ Harbor Point project at 5055 North Harbor Drive along San Diego Bay. He also is responsible for a large site-work project at Innovation Corporate Center for Kilroy Realty.
• Bridalinsider.com Adds Brick and Mortar: Bridalinsider.com, a free online service that helps brides and grooms plan their weddings, has added an brick and mortar component — the Bridal Insider Studio. “We are excited to expand our services,” said founder Lori Foote.“We receive more than 150,000 page views from 10,000 unique visitors each month. It was time to expand and create additional connectivity offline.” On July 24 and 25, from 11a.m. to 6p.m. both days, Bridal Insider will open its doors with a grand opening celebration. The studio is located at 305 Laurel St., San Diego 92103. Attendees may R.S.V.P at rsvp@bridalinsider.com. The first 50 guests will receive a complimentary swag bag when they attend. For more information, contact Foote or Eve Harrison at (888) 256-9032 or visit bridalinsider.com. Beginning in August, Bridal Insider will provide complimentary wedding kick-off meetings for newly engaged couples to help them get started with their wedding plans. Bridal Insider will match the couples with two to three vendor contacts for each service they need.
• Currant American Brasserie Upgrades Cuisine and Interior: Currant American Brasserie in Downtown’s Sofia Hotel has revamped its cuisine and interior space. The revival includes four new menus — breakfast, lunch, dinner and bar— and adjustments to the service style and interior ambiance. Dishes such as the Crunchy Ham & Cheese and Mussels & Fries are showcased, based on the traditional Croque Monsieur and Moules Frites. The Currant bar and lounge now offers twice nightly happy hour specials. Sangria is a new addition to the menu. Currant’s Absinthe service, also known as “la fée verte” (the green fairy), is featured. Currant American Brasserie is located at 140 W. Broadway on the street level of the Sophia Hotel. Doors open at 6:30 a.m. every day, and happy hour is twice nightly at 4–7 and 9–11p.m. Visit currantrestaurant.com or call (619) 702-6309 for more information.
LEASES
• Qualcomm Inc. and Cisco Systems Renew Leases: Two lease renewals hae been signed for spaces in Pacific Plaza at Torrey Hills, a three-building office complex in Del Mar Heights. Qualcomm Inc. signed a renewal for 86,331 square feet of office space at 10945 Vista Sorrento Parkway. The company occupies the entire building. The lessee was represented by Brett Ward and Brad Tecca of Cassidy Turley BRE Commercial. Cisco Systems Inc. signed a lease renewal for 14,652 square feet of office space at 10935 Vista Sorrento Parkway, Suite 100. The lessee was represented by Shawn Lorentzen of Jones Lang LaSalle. In each of the transactions, Eric A. Northbrook and Christopher P. High of Cushman & Wakefield represented the lessor, TREA Pacific Plaza LLC.
• Quiznos Leases Space in El Camino North: Restaurant Realty LLC, doing business as Quiznos, leased 1,256 square feet of retail space at El Camino North shopping center, 2611 Vista Way, Oceanside 92054. The 10-year lease is valued at $360,509. Mike Moser of CB Richard Ellis represented the lessor, Kimco Realty. Restaurant Realty LLC represented itself. Anchored by Barnes & Noble, Toys R Us, Ross Dress for Less and Michael’s, El Camino North is a 366,775-square-foot shopping center located along SR-78 at South El Camino Real in Oceanside. The Quiznos lease brings the project to 87 percent leased with six suites available for lease ranging in size from 1,050 square feet to 38,902 square feet.
• Massage Envy to Open at San Carlos Village: Solidified Inc., doing business as Massage Envy, leased 4,500 square feet of retail space at San Carlos Village, 8798 Navajo Road, San Diego 92119. The 10-year lease is valued at $997,200. Carrie Bobb of CB Richard Ellis represented Massage Envy. Stoltz Management represented the lessor, PCCP/SB San Carlos LLC.
• Submarina Leases Plaza de Cuyamaca Space: Matthew and Xyreine Kennedy, doing business as Submarina, leased 980 square feet of retail space at Plaza de Cuyamaca in Santee, 9713 Mission Gorge Road Santee 92071. The three-year lease is valued at $100,952. Brad Jones of CB Richard Ellis represented the lessor, CLL-Cuyamaca LP. Submarina represented itself.
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