Daily Business Report — April 11, 2013
President Obama’s Budget Request Includes
$226 Million for San Ysidro Land Port Expansion
The federal budget released by President Obama on Wednesday contains $226 million for the San Ysidro Land Port of Entry expansion project, deemed necessary to shorten wait times, increase cross-border commerce and create jobs. The money would allow the second and third phase of the project to move forward. The port of entry is the world’s busiest land port, serving more than 50,000 vehicles and an estimated 25,000 pedestrian crossings coming in the country every day. The expansion would double the number of lanes at the border with Mexico. “This project is critical to the economic security of our region,” said Congresswoman Susan Davis. The president’s budget request must be approved by Congress through the appropriations process.
Governor Opens Trade and Investment
Talks With Chinese Government Leaders
Gov. Jerry Brown kicked off the state’s trade and investment mission to China with a series of events on Wednesday that included meetings with China’s Minister of Commerce, Minister of Environmental Protection, chairman of the National Development and Reform Commission, a forum with the American Chamber of Commerce-Beijing and a reception at the U.S. Embassy in Beijing with the U.S. Ambassador to China. This week and next, the governor will meet with Chinese government and business leaders, highlight bilateral trade and investment opportunities between the two regions and open a new trade and investment office. Joining the governor on the trade and investment mission is a delegation that includes 90 business, economic development, investment and policy leaders from throughout California.
More Than Half of San Diego Cops
Will be Eligible to Retire in Four Years
Sixteen percent of San Diego police officers are eligible to retire right now, and more than half will reach retirement eligibility in four years, the vice president of the San Diego Police Officers Association said Wednesday, City News Service reports. The comments by the association’s Jeff Jordan came during a report — delivered to the City Council’s Public Safety and Neighborhood Services Committee — on the department’s struggle to recruit and retain officers. Jordan said those now eligible and the 919 cops soon to qualify for retirement won’t all leave the force immediately, but it’s reasonable to expect most of them will depart within the next nine years. Councilwoman Lorie Zapf called the numbers “scary.” The attrition that has already hit the department would cause “heads to roll” in a private company, Jordan said. He said that of the 888 officers hired by the SDPD since July 2005, 29 percent have already left.
Advertising and Marketing Academy Opens
Donna DiGioia, an educator in the advertising and marketing fields, has opened the MARCC Academy in Downtown San Diego to offer continuing education courses, workshops, seminars and networking events for entry-level professionals in those fields. Enrollment will consist of monthly membership fees starting at $55. Free open houses will be held from 10 a.m. to noon on three consecutive Saturdays, April 13, 20 and 27, at the MARCC Academy headquarters in the Co-Merge Building, 330 A St. DiGioia said upcoming workshops will cover such topics as social media and personal brand marketing, digital design, traditional design, multimedia portfolio preparation, professional development and job interviewing skills.
Home Prices Rise in San Diego County
Median prices of single-family resale homes reached $432,000 in San Diego County in March, a rise of 5 percent from the previous month, and nearly 19 percent from March of last year, according to the Greater San Diego Association of Realtors. For the first quarter of 2013, single-family home prices were up 15 percent from a year ago. Condos and townhomes saw an even higher increase in the median price — $285,000, which is a jump of 14 percent from February, and 30 percent from March of last year. For the first quarter, condos and townhome prices were up 25 percent compared to last year.
Despite the historically low inventory levels, sales of single-family homes jumped 39 percent in March compared to February, and were up by 10 percent compared to March 2012. Condos and townhomes sales also rose in March, with an increase of 31 percent from February and 14 percent from March 2012. The amount of time properties are staying on the market was cut by about a third from a year ago, from 90 to 60 days.
The most expensive San Diego County listing sold last month: A five-bedroom, six-bath, 6,375-square-foot La Jolla home that sold for $12 million.
Cubic Receives $134 Million Navy Contract
Cubic Worldwide Technical Services has been awarded a contract for nearly $134 million by the U.S. Naval Air Warfare enter Training Systems Division based in Orlando, Fla. Cubic will deliver interactive and immersive academic and simulator instruction for nine different aircraft ranging between basic and advanced flight operation.
The Hake Kitchen & Bar Signs
Lease for Operation in La Jolla
Owners of The Hake Kitchen & Bar have signed a five-year, $550,450 lease for retail space in La Jolla to operate a brasserie offering a Mediterranean-inspired menu and full-service bar. The establishment, scheduled to open in late May or early June, would have 4,320 square feet. It is located at 1250 Prospect St., Suite B10-13. “The Hake Kitchen & Bar will be the flagship location for the owners, Prospect Restaurant Partners, with several other restaurants to follow in San Diego in the coming years,” said Mike Slattery of Cassidy Turley’s La Jolla Property Group, which represented the lessor, 1250 Prospect Street LP.
Mission Publishing Group Names Executive Editor
Genevieve A. Suzuki has been named executive editor of Mission Publishing Group’s three publications — Mission Times Courier, La Mesa Courier and Mission Valley News. Suzuki first began working for Mission Publishing Group as editor of Mission Times Courier in September 2011. She became editor of La Mesa Courier in July 2012. In December 2012, Shewas named acting editor of Mission Valley News. Suzuki was a journalist for several years in Hawaii before moving to San Diego to pursue her law degree at California Western School of Law. After graduating in 2008, she returned to journalism by freelancing for various news publications.
NewSchool of Architecture and Design
Appoints Chair of Digital Media Arts
NewSchool of Architecture and Design has named Linda Sellheim as the new chair of its Digital Media Arts program, effective July 1. Sellheim has broad experience in the digital arts industry as well as academia. She worked in Autodesk’s entertainment division as a curriculum development manager and later as an education product manager. Her academic experience includes serving as academic director at The Art Institute of California’s San Diego and Orange County campuses. Students in the Digital Media Arts program will have the chance to study in New Zealand and obtain a certificate specializing in either graphic design or interactive design, beginning in the 2013–2014 academic year.
Silvergate Bank Selects Carlsbad Branch Manager
Mark Beardsley has been appointed vice president and manager of Silvergate Bank’s Carlsbad branch, to serve the North San Diego coastal submarkets. Beardsley has more than 20 years of banking experience. Most recently he was senior business relationship manager with Wells Fargo Bank where he developed and managed a business banking portfolio of $60 million in loans and $40 million in deposits. Prior to that he was vice president and area manager of West Coast Bank for four years and vice president and senior community banking officer with LibertyBank for two years. Beardsley was raised in San Diego, graduating from University of San Diego with a degree in business administration. Before beginning his banking career, Beardsley founded and managed Mark’s True Value Hardware in Encinitas.
SMALL BUSINESS WORKSHOPS
Upcoming SCORE San Diego workshops:
April 12 – Intellectual Property – 9 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., No. 550, San Diego 92101; early registration $39, $49 after April 10).
April 13 – Business Plan 1: How to Develop Your Best Competitive Advantage – 9 a.m. to 3 p.m. at National University – Carlsbad (705 Palomar Airport Road, Carlsbad 92011; early registration $79, $89 after April 11).
April 13 – QuickBooks Basic – 9 a.m. to 12 p.m. at University of Phoenix (9645 Granite Ridge Dr., San Diego 92123; early registration $49, $59 after April 11).
April 13 – QuickBooks Advanced – 1 to 4 p.m. at University of Phoenix (9645 Granite Ridge Dr., San Diego 92123; early registration $49, $59 after April 11).
April 15 – Are You Ready to Start Your Own Business? – 9 a.m. to noon at University of Phoenix (9645 Granite Ridge Dr., San Diego 92123; early registration $15, $20 after April 13).
April 16 – Financial Statements 1: What They Are – 9 a.m. to noon at University of Phoenix (9645 Granite Ridge Dr., San Diego 92123; early registration $49, $59 after April 14).
April 16 – Financial Statements 2: How to Use Them – 1 to 4 p.m. at University of Phoenix (9645 Granite Ridge Dr., San Diego 92123; early registration $49, $59 after April 14).
April 17 – Search Engine Optimization (SEO) – 9 a.m. to 3 p.m. at National University – Carlsbad (705 Palomar Airport Road, Carlsbad 92011; early registration $79, $89 after April 15).
For more information regarding SCORE San Diego’s workshop series and locations, call (619) 557-7272.
