Daily Business Report — July 23, 2014
Meb Keflezighi was honored at his alma mater, San Diego High School, after winning the 2014 Boston Marathon. (Photo by Chris Stone)
Meb Keflezighi Named VP of Running
For Company that Stages Road Races
Boston Marathon winner Meb Keflezighi on Tuesday was named vice president of running at the San Diego-based Competitor Group Inc., which stages road races around the country.
The San Diego High graduate, who in April became the first American male to win in Boston in 31 years, will develop training content and help the company’s growth in the running industry.
Keflezighi, 39, is the first to hold the position in the firm, which puts on the Rock ‘n’ Roll Marathon.
“I look forward to working with CGI to help grow and expand the Rock ‘n’ Roll Series with their new running festival weekends,” Keflezighi said.
“From developing training plans to collaborating for social media content and participating in the events, I am excited to share my love for our sport with so many runners around the world and help millions of runners run to win — which doesn’t always mean first place, it means getting the best out of yourself.”
He will continue competitive running and serving as an ambassador for his sponsors.
David Abeles, CEO of the Competitor Group, said Keflezighi has a “proven ability to inspire and motivate runners of all levels.”
Keflezighi and his wife, Yordanos, live in Mission Hills with their three daughters.
USA Today first reported the news Monday, and quoted Keflezighi as saying:
“My dream has been realized. Boston was the capping. Now I want to inspire others to get the best out of themselves, inspire others just getting started. I feel honored to have the role of VP of running. It’s a huge honor. I am so excited to have an office more so than anything.”
USA Today added: “In his position, Keflezighi will play a key role working with event managers for Rock ‘n’ Roll races, developing training content and appearing and competing at events. He still will compete professionally. He said he will run a few more marathons with the goal of making his fourth Olympic team. At the 2016 Olympics in Rio, he will be 41.”
Sometime in the next two weeks, the paper said, Keflezighi will escort his father on a visit to Competitor Group’s headquarters on Waples Street in Sorrento Valley. He will give him a tour, then show him his office.
“He knows about the job, but hasn’t seen the office. I want to experience that moment with him,” he said.
— Times of San Diego/City News Service
Brookings: Foreign Direct Investment
Supports Nearly 50,000 Local Jobs
The Brookings Institution released its first-ever metro-level analysis of foreign direct investment’s role in the San Diego metropolitan area’s economy as part of its Global Cities Initiative, a joint project of the Brookings Institution and JPMorgan Chase. The report analyzes the types of foreign-owned businesses located in the San Diego metropolitan area, outlines the region’s sources of foreign investment and shows that 48,370 jobs are supported by FDI locally.
The research finds that San Diego has seen a steady climb in its FDI ranking, which is based on the top 100 most populous metropolitan areas in the U.S. In 1991, San Diego ranked 31 on the list with 25,600 jobs in foreign-owned establishments (FOE). In 2011, the region ranked 24th with 48,730 jobs, signifying more than a 90 percent increase in the number of jobs in FOEs in a 20 year period.
Other key finds specific to the San Diego region:
• Industries with the highest concentration of jobs in foreign-owned establishments include precision instruments (unmanned systems, medical devices), grocery stores and semiconductors
• The largest share of jobs by foreign-owned establishments were created from mergers and acquisitions (36 percent).
• Foreign-owned establishments have become more goods-intensive. The most recent data shows that 2011 was the first time more jobs in FOEs were concentrated in goods as opposed to services.
• Tokyo (13 percent) followed by London (12.1 percent) are the top sources of foreign direct investment by city.
The Global Cities Initiative team is comprised of leadership from the city of San Diego, San Diego Regional EDC, Biocom and Qualcomm. San Diego is one of two cities — and the only in California — that Brookings selected to publish and develop its FDI plan.
“San Diego is global city,” said Mark Cafferty, president and CEO of San Diego Regional EDC. “It’s no coincidence that our top two FDI-generating cities — Tokyo and London –– are also the two direct international flights out of San Diego. This report gives the San Diego region a key resource to take full advantage of this important economic development tool.”
Comic-Con Begins
Tonight the 45th San Diego Comic-Con kicks off with preview night. The geek factor begins with the show’s organizers.
No one involved in Comic-Con ever suspected their intimate geek gathering that began in a hotel basement would eventually take over the entire San Diego Convention Center, sprawl out into the Gaslamp Quarter, attract upwards of 125,000 attendees and pour more than $135 million annually into the San Diego economy.
“I don’t think anybody ever thought that this show would be the size that it is,” Comic-Con spokesman David Glanzer said.
He began attending the show in 1978 and in costume.
“One of the first costumes I ever made was a Tusken Raider from ‘Star Wars.’ I have to tell you my friend Allison and myself spent months buying material and trying to find pictures in every magazine and we made these Tusken Raider costumes.
“And they were a huge hit — incredibly hot to wear but a huge hit,” Glanzer said.
“Star Wars,” like comics, was a gateway to Comic-Con for many in the late ’70s. At the Comic-Con offices you’ll also find Trekkies and Whovians, and shelves filled with toys. That’s because the staff are pop culture fans. Most began their association with the Con as attendees or volunteers.
— KPBS
Algae Biomass Summit Set for Sept. 29-Oct. 2
Assistant Secretary of the Navy Dennis McGinn will be a keynote speaker at the eighth annual Algae Biomass Summit, the largest algae conference in the world, Sept. 29-Oct. 2 in San Diego. the host is the Algae Biomass Organization (ABO). McGinn is leading the Department of the Navy in its search to find advanced biofuels that will serve as a sustainable and independent source of energy for naval operations.
Under the Defense Production Act, the Navy has looked at numerous feedstocks and the ability to bring larger quantities of advanced alternative fuels to market. Algae-based fuels have been looked at because of their great potential for becoming sustainable and scalable. A number of companies, including Cellana, Sapphire Energy, Algenol and Bioprocess Algae are leading the effort and investing hundreds of millions of dollars to commercialize algae-derived automotive, aviation and marine fuels.
“McGinn is a well-respected and powerful advocate for the importance of domestically-produced renewable fuels as a strategic imperative for the United States military,” said Matt Carr, executive director of ABO. “The algae fuels industry is creating new sources of fuel and energy that will create jobs, increase our energy security and deliver improved performance for our economy.”
Sundt Construction Expands Team
Sundt Construction Inc. expanded its San Diego office by adding four new team members. David Barragan, Sef Silofau, Stephen Mayes and Jeffrey Cardenas join the team constructing the 2 million-square-foot Consolidated Rental Car Complex at San Diego International Airport, which is on schedule for completion in late 2015.
Barragan, a field superintendent within Sundt’s concrete operations, rejoins Sundt with more than 22 years of extensive construction experience, including 17 years of concrete work. Silofau, a project superintendent, brings more than 15 years of construction experience working on significant projects throughout Southern California. Mayes, a field engineer within Sundt’s concrete operations, comes to Sundt after working for another well-known construction company for 30 years. Cardenas, a field engineer within Sundt’s concrete operations, worked for the general contractor previously for five years on many projects, including the $77 million Aztec Student Union at San Diego State University.
AMN Healthcare Announces Promotion
AMN Healthcare, a staffing company, has promoted Jeanette Sanchez to chief information officer. Previously, Sanchez was senior vice president of information technology, launching a multi-year project to affect the quantum change to nearly all the company’s systems. She brings a broad understanding of IT to her newly appointed role, having previously served in various leadership roles in strategic planning, governance, large-scale technology modernization, and business transformation events.
