Daily Business Report — Aug. 23, 2010
Join Us For Lunch
San Diego Metropolitan Magazine’s 11th annual 40 Under 40 Awards luncheon will be held at noon on Sept. 9 in Ballroom 6 A&B of the San Diego Convention Center. Tickets are $75. Tables are $750. For tickets, contact Cyndi Meeves at (619) 906-4105. The awards honor 40 of the San Diego region’s best and brightest minds in a variety of industries. And read about the honorees in the September issue of San Diego Metropolitan.
County Employment Down 13,500 Over Month
The unemployment rate in the San Diego County was 10.8 percent in July, up from a revised 10.5 percent in June 2010, and above the year-ago estimate of 10.3 percent, according to the state Employment Development Department. The unadjusted jobless rate for California was 12.8 percent. The nation’s unemployment rate for July was 9.7 percent.
June-July 2010
Between June 2010 and July 2010, total nonfarm employment declined by 13,100 and settled at 1,212,900 jobs. Agricultural employment decreased by 400 jobs, or 4.1 percent.
• Government reported the greatest month-over decline, down 12,600 jobs. Local government (down 8,500) accounted for roughly two-thirds of the job loss in this sector, primarily from a seasonal downturn in local government education (down 8,600). State government contracted by 2,800, while federal government receded by 1,300 jobs.
• Educational and health services decreased by 2,000 jobs, mostly from educational services (down 1,600). Health care and social assistance declined by 400 jobs.
• Five industries reported month-over job gains. Leisure and hospitality and trade, transportation, and utilities added 1,000 jobs each, while professional and business services and construction increased by 200 jobs each. Information gained 100 jobs and mining and logging posted no change in employment levels over the month.
July 2009-July 2010
Between July 2009 and July 2010, total nonfarm employment declined by 3,100 jobs, or 0.3 percent. Agricultural employment decreased by 300 jobs, or 3.1 percent.
• Manufacturing recorded the greatest year-over decline, down 3,300 jobs. Durable goods (down 3,100) contributed to more than 90 percent of the job losses in this industry. Nondurable goods decreased by 200 jobs.
• Seven other industries posted job losses over the year, but the most notable declines came from financial activities (down 2,400), construction (down 1,500), government (down 1,300), and information (down 1,000).
• Four sectors reported year-over job growth, including educational and health services (up 3,800), professional and business services (up 2,500), other services (up 800), and leisure and hospitality (up 300).
No on Frankenstein
San Diego City Attorney Jan Goldsmith doesn’t like the wording used by the attorney who filed a lawsuit challenging Proposition D, the sales tax increase measure on the November ballot. The lawsuit called Proposition D a “Frankenstein Proposition.” Don’t use the court system to campaign against the measure, admonished Goldsmith, adding, “There is no such legal term. Stick to the legal issues and keep the political rhetoric to the political campaign.”
CDC Small Business Finance Names Senior Adviser
Ken Rosenthal, a 20-year veteran of small business financing, has been named to the new position of senior adviser for lending, education and training for CDC Small Business Finance in San Diego. Rosenthal will focus on educating California, Arizona and Nevada commercial bankers about the SBA’s new secondary market program, designed to help jump-start the stalled secondary market for SBA-504 loans. He also will provide training on other CDC lending products and services. Rosenthal has worked as a loan officer for CDC Small Business Finance in the company’s San Diego office for the last 20 years, generating an average of $100 million annually in financing for small businesses.
Partner Engineering and Science Appoints Project Manager
Environmental consultant Eric Correia has joined Partner Engineering and Science as a project manager in the firm’s San Diego office. Correia will work with Partner’s San Diego client base of law firms, financial institutions and real estate companies in the acquisition, disposition and financing of mobile home parks, multi-family complexes, skilled nursing/assisted living facilities, commercial buildings, retail properties, hotels and industrial facilities. Correia previously was quality control manager for Project Resources Inc., a national engineering and environmental consulting firm headquartered in San Diego. He holds a bachelor’s degree from California Polytechnic State University, San Luis Obispo.
High School District Purchases Office Building
Escondido Union High School District has purchased a two-story, 25,400-square-foot office building at 220 West Crest St. in Escondido for use as the district’s adult school. The district paid $3.5 million to the seller, The Clark Family Trust. Terry Jackson of Cushman & Wakefield represented the district in the sale. The family trust was represented by Barbara Kreis of Sperry Van Ness.
Lease Transactions Completed at Crossroads Office Building
Four lease transactions totaling 50,061 square feet have brought the Crossroads office building in Mission Valley to more than 80 percent occupancy. The seven-story building is at 404 Camino del Rio South. T.Y. Lin International signed a 10-year, $4,864,952 lease for 21,354 square feet of office space in Crossroads (Suite 700). The lessee was represented by Joseph Bernstein and Randall Wood of Jones Lang LaSalle. The lessor, Behringer Harvard Crossroads LP, was represented by Eric Vann and Derek Applbaum of Cushman & Wakefield. T.Y. Lin will relocate from its current Mission Valley location to Crossroads in November 2010. Resortcom International LLC signed a six-year lease renewal for 20,456 square feet of office space in Suite 400. Resortcom International was represented by Scot Ginsburg and Joe Bernstein of Jones Lang LaSalle. The lessor was represented by Eric Vann and Derek Applbaum of Cushman & Wakefield. The company has been located at Crossroads since 2003. Financial terms were not disclosed. Polycomp Administrative Services signed a 69-month, $727,223 lease renewal for 5,937 square feet of office space in Suite 608. The lessee was represented by Michael Macie of Cushman & Wakefield. The lessor was represented by Eric Vann and Derek Applbaum of Cushman & Wakefield. McQueen Kalligan Insurance Services Inc. signed a 63-month, $293,022 lease for 2,314 square feet of office space in Suite 505. The lessee and lessor were represented by Eric Vann and Derek Applbaum of Cushman & Wakefield.
Gubernatorial Appointment
Shu-Hong Zhu, 47, of San Diego, has been appointed to the Tobacco Education and Research Oversight Committee by Gov. Schwarzenegger. He has served as a professor at SDSU’s Department of Family and Preventive Medicine since 2006, where he was previously an associate professor from 1999 to 2006, assistant professor from 1992 to 1999, principal investigator of the California Smokers’ Helpline for the Cancer Center since 1992, project director of the Smoking Cessation Telephone Counseling Program from 1990 to 1992 and research assistant and teaching assistant for the Department of Psychology from 1986 to 1990. Prior to that, Zhu served the Beijing University, Department of Psychology as faculty in 1986 and research and teaching assistant from 1983 to 1986. This position does not require Senate confirmation and there is no salary. Zhu is a Republican.
Upcoming SCORE San Diego Workshops:
• Aug. 24 – Internet Marketing 303: Social Media – 9 a.m. to noon at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Aug. 25 –Business Plan 201: How to Write a Winning Business Plan – 9 a.m. to 3:30 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $99, $109 at the door).
• Aug. 26 – Effective Marketing – 9 a.m. to 4 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Aug. 27 – Internet Marketing 304: LinkedIn – 9 a.m. to noon at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Aug. 28 – How to Start and Manage Your Own Business – 9 a.m. to 4:15 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Aug. 31 – Import/Export – 9 a.m. to 4:30 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
For more information, call (619) 557-7272 or visit score-sandiego.org.
The Daily Business Report is produced by REP Publishing Inc., publisher of San Diego Metropolitan Magazine, the North Park News, Kensington News and the West Coast Craftsman. (619) 906-4104.
