Daily Business Report — Jan. 14, 2013
Qualcomm Leaves Big Economic
Footprint on San Diego’s Economy
New report details the chip giant’s huge influence in the region
Nearly one in three people in San Diego’s telecommunications sector works for Qualcomm, a measure of the chip giant’s massive economic footprint on the region. According to a report by the San Diego Workforce Partnership and the San Diego Regional Economic Development Corp., Qualcomm’s presence in the regional economy contributes $4.53 billion in direct and indirect economic activity annually — equal to about 3 percent of the county’s Gross Regional Product in 2010. The combined effect is larger than six other major industry sectors in the region.
The study also found the company is the driver of the local wireless and telecom industry. A third of all workers in San Diego’s telecom industry cash a Qualcomm check.
While the company’s economic footprint is big, most of its revenue comes from somewhere else. “Qualcomm has two main lines of business,” said William Bold, Qualcomm’s senior vice president of government affairs. “We develop chips that go into mobile devices, phones and tablets. And we also license technology to manufacturers. Most of our customers are outside the United States.”
Qualcomm, which was founded in 1985, is San Diego County’s largest for-profit, private sector employer, employing nearly 12,000 workers here out of 21,000 people worldwide in more than 170 locations. It is the world’s leading mobile chipset provider, and its CDMA technology powers 3G and 4G networks around the globe.
The report said Qualcomm supports 27,365 jobs paying an average annual wage of more than $70,000. Every job created at the company, it said, generates about 2.3 jobs in the region, and every dollar generated directly by Qualcomm generates almost $2 of economic activity in the region.
The presence of Qualcomm also benefits a number of charitable organizations in the region. The company and the Qualcomm Foundation donated an estimated $85 million to county charities between 200 and 2001, according to the report, while employees gave an estimated $20 million more to local charities in 2011. The employees gave an estimated 165,000 hours, with a conservatively estimated value of $4.1 million, to local charities in 2011, according to the report.
U.S. Supreme Court Justice Ruth Bader Ginsburg
to Appear at Thomas Jefferson School of Law
U.S. Supreme Court Justice Ruth Bader Ginsburg will appear at the 13th annual Women and the Law Conference Feb. 8 at the Thomas Jefferson School of Law in Downtown San Diego. The conference, “Her Honor: Women in the Judiciary,” will celebrate women judges and examine their role in the legal system. The event, to be held from 10:30 a.m. to 6 p.m., also will look at the part women judges will play in developing stronger legal regimes. Ginsburg will appear during a Q&A session in the afternoon. After a 2003 visit to the school, Ginsburg created the Ruth Bader Lecture Series, which has become the keynote presentation of the annual conference. The conference is open to the public. Ginsburg will be the second Supreme Court justice to visit San Diego this year. Justice Sonia Sotomayor will visit the University of San Diego on Jan. 17.
The 2013 lecturer will be Susan Williams, the Walter W. Foskett Professor of Law and director of the Center for Constitutional Democracy at the Indiana University Maurer School of Law. A former clerk of Ginsburg, Williams is the author of “Truth, Autonomy and Speech: Feminist Theory and the First Amendment.” She also has written articles on constitutional law and feminist legal theory. She is currently advising constitutional reforms around the world. Former French Supreme Court Justice and French cabinit minister for European Union Affairs Noelle Lenoir will be one of the participants on the morning panel focusing on international issues related to women in the judiciary. An afternoon panel will address domestic issues.
Admission for the general public is $50. Students, faculty and staff of the school will not be charged. For more information, contact Donna Gehlken at dgehlken@tjsl.edu.
December Home Sales Increase,
Capping Year of Housing Growth
Home prices rose again in December, finishing off the year on a strong note, according to the Greater San Diego Association of Realtors, KPBS reports. The association reported that 2012 was overall a good year for the housing industry. Home prices in December were 18 percent higher than they were in December 2011, according to the association. The number of sales of existing homes also increased in December. Lindy Kaiser, a Realtor in San Diego, said she expect an even bigger year in 2013. Chula Vista saw the most home sales of any local city in December, according to the association. The most expensive home sold in December was a four-bedroom, four-bath La Jolla home that went for $7.4 million.
Websense Appoints New CEO
Websense Inc.’s board of directors has named John McCormack as chief executive officer, succeeding Gene Hodges, who is retiring after serving as both CEO and a board member since January 2006. Websense also announced record fourth quarter billings performance, Charles Boesenberg’s appointment to the board of directors and Russ Dietz as the company’s chief technology officer. Websense also released its preliminary fourth quarter 2012 results, saying that it expects billings to be approximately $122 million, up 5 percent year-over-year, exceeding its guidance range of $112 to $117 million for the fourth quarter. Also for the fourth quarter, Websense expects revenues of $91.5 to $92.0 million, versus guidance of $90 to $92 million.
San Diego Council to vote on SANDAG appointments
A single slate of appointments by the city of San Diego to the San Diego Association of Governments is scheduled to be considered by the City Council at its meeting today, City News Service reports. Dueling lists led to apublic squabble between Mayor Bob Filner and City Council President Todd Gloria last week. The new list resolves the major issues raised in the tiff over the mayor’s appointment power and the bipartisan nature of the nominations, which are scheduled for council confirmation at today’s meeting. Under the proposal, both Filner and Gloria would serve on the board of directors of the regional planning agency. The new list of appointments originated from the mayor’s office. It also includes Councilwoman Lorie Zapf, a Republican, as a representative on SANDAG’s Regional Planning Committee — as requested by Gloria. Another GOP member, Scott Sherman, would be given a post on the organization’s Energy Working Group. A third Republican, Mark Kersey, was selected as an alternate for two SANDAG committees.
La Jolla Pharmaceutical Adds to Management Team
La Jolla Pharmaceutical Co. has made two additions to its management team with the hiring of Stacey Ruiz as director of research and development, and Chester S. Zygmont III as director of finance. Ruiz will be working on the development of La Jolla’s pipeline drug candidates alongside James Rolke, senior director of research and development. Zygmont will be leading the management of all financial responsibilities including accounting, regulatory reporting, investor relations and treasury. Ruiz spent five years at Reata Pharmaceuticals before his hiring. Zygmont previously was with Z3 Capital LLC.
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The Daily Business Report is produced by SD METRO.
Contact: Manny Cruz (619) 287-1865. manny@sandiegometro.com.
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