Daily Business Report — May 10, 2012

Cubic and UC San Diego Collaborate on Transit Project

Cubic Transportation Systems and the Jacobs School of Engineering at UC San Diego are collaborating on a project that would give transit customers the ability to make better travel choices by using information they receive from mobile devices and wireless communications and from new technologies. Cubic will contribute $500,000 over five years to the Jacobs School of Engineering to fund research done by faculty, students and Cubic Transportation Systems staff.  The project, according to the partners, aims to achieve a better understanding of the application and utilization of emerging technologies to improve transportation services. “The partnership with UC San Diego will help Cubic realize its vision of mobility in the future — what we call Nextcity,” said Matt Cole, senior vice president of strategy and business development. “Consumer mobile devices, wireless communications and account-based payment processing create the opportunity to make significant new information available to travelers.”

Cubic said Nextcity will deliver personalized information to passengers so they can make informed travel choices. “Our research will make better use of the existing data and seek innovative ways to apply this information and technology to better the traveler’s experience, and improve the efficiency and utilization of the transportation system and a city’s resources,” said Pradip Mistry, vice president of engineering. The research partnership potentially spans mobile and web technologies, wireless networking, location-based services, data warehousing and system architecture and analytics, all areas of expertise at the university.

Venture Capital Investment More Than Doubles in 1st Quarter

In the first quarter of 2012, venture capital investment in the San Diego region totaled $358 million in 22 transactions, which is more than twice the $156 million in 30 transactions recorded in the first quarter of 2011 and above the long-term quarterly average, according to a report by Cassidy Turley Commercial Real Estate Services. The report is based on figures from Money Tree Report by PricewaterhouseCoopers and National Venture Capital Association.

The quarterly average of venture capital investment in the San Diego region over the last 69 quarters (1Q95 to 1Q12) is $269 million. In comparison, Silicon Valley attracted $2.1 billion, which is below the quarterly average of $2.5 billion. Los Angeles and Orange County combined attracted $567 million in the first quarter of 2012, which is above the quarterly average of $477 million.

Golden Fleece Award Finalists Announced

The San Diego County Taxpayers Association has announced the finalists for its annual Golden Fleece Awards, which are given to government programs or services that exemplify “the wasteful, inefficient or downright absurd use of taxpayer dollars.” The recipients will be announced at the association’s annual dinner May 16 at the Town and Country Resort & Convention Center. The Regional Golden Fleece finalists are: San Diego Unified School District – Calling Mister Rogers! (Early Childhood Education Program/Project Stabilization Agreement Study); Otay Water District – Game of Thrones (Increase in Retiree Health Benefits); Southwestern Community College District – American Idle (Corner Lot Project); Sweetwater Union High School District – Hell’s Kitchen (District Cafeteria Woes).

The Metro Golden Fleece finalists are: City of San Diego – Let’s Not Make a Deal (Qualcomm Stadium Security Contract); City of Escondido – D’oh! (Escondido Management Raises); City of San Diego – Extreme Makeover, Bureaucracy Edition (Public Utilities Department Billing System); City of Oceanside – So You Think You Can Dance? (Library Services RFP).

The Repeat Offenders finalists are: County of San Diego SAFE Board  – Mad Men (and Women) (Marketing Campaign); Tri-City Hospital District – Keeping Up With The Klaims (Legal Issues Persist).

San Diego Press Club to Celebrate 40th Anniversary

The San Diego Press Club, celebrating its 40th year, will hold a gala party May 18 from 6 to 9 p.m. at Civita in Mission Valley. “Oh! Ridge,” a group that’s been playing in San Diego since the ’70s, will entertain. The party will take over the 10,000-square-foot recreation center at Circa 37, a luxury apartment village at Civita. Sudberry Properties, master developer of Civita, is the host and major sponsor of the celebration. Press Club memorabilia will be on display and special acknowledgement of those who launched the organization, along with the “next” generation – those expected to lead the club for the next 40 years. Funds raised by the event’s Honorary Committee and party proceeds will benefit the San Diego Press Club Foundation for journalism scholarships. Openings for the Honorary Committee are still available for a $100 donation. Tickets are $20 for members of the San Diego Press Club and professional media and public relations associations; $25 for nonmembers. Deadline for tickets, which must be purchased in advance, is May 14. For information and tickets, and to join the Honorary Committee, call (619) 231-4340.

Hughes Marino Executive Featured in Forbes Guest Post

Star Hughes, director of business development for Hughes Marino in San Diego, has a guest post in Forbes.com under the title, “How I Became a 21-Year-Old Business Executive.” Read her story at:

http://www.forbes.com/sites/jennagoudreau/2012/05/09/how-i-became-a-21-year-old-business-executive/

40 Under 40 Nominations Open

Nominations are now open for SD METRO’s annual 40 Under 40 Awards recognition program. Nominate a man or woman you think has made outstanding contributions to his or her profession, industry or to San Diego County as a whole. We will announce the winners in September. Either fill out the nomination form at sandiegometro.com or send your nomination to rebecapage@sandiegometro.com. Better get crackin’! The deadline is May 31.