Daily Business Report-Oct. 18, 2016
Stone IPA from North County. (Photo courtesy Stone Brewing Co.)
Craft Beer Pioneer Stone Brewing
Lays Off 5 Percent of Workforce
Times of San Diego
Citing a slowdown in growth, San Diego craft beer pioneer Stone Brewing Co. has laid off 5 percent of its workforce.
“Due to an unforeseen slowdown in our consistent growth and changes in the craft beer landscape, we have had to make the difficult decision to restructure our staff,” the Escondido-based company said in a statement.
Approximately 60 of its 1,200 employees were affected last week, and the company said no additional layoffs are expected.
Stone cited greater market pressure from large breweries as a result of acquisitions, and growing competition from “small, hyper-local breweries.”
The layoffs come as the 20-year-old company ramps up production and distribution from new facilities in Richmond, Va., and Berlin, Germany.
“This comes despite a year that includes the incredible accomplishments of opening two new breweries, which are ultimately expanding the availability of Stone beers and boosting the reputation of American craft beer in Europe,” the company said.
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Famed Architect to Deliver
First Lecture of the Year
at NewSchool of Architecture & Design
Architect Billie Tsien, whose architectural firm was chosen by President Barack Obama and First Lady Michelle Obama to design their upcoming Obama Presidential Center in Chicago, will be the NewSchool of Architecture & Design’s first lecturer of the school year at a 6:30 p.m. program Wednesday in the Spreckels Theatre in Downtown San Diego.
The free session, titled “Inside Out,” will focus on how Tsien’s design process progresses from concept to reality. She will also touch on how user experience heavily influences her work while providing advice and key learnings gleaned from her extensive industry experience.
Tsien studied fine arts at Yale University and received her Master of Architecture degree from UCLA. Her career took off in 1977 when she began working with fellow architect Tod Williams. Together, they established their architectural practice Tod Williams Billie Tsien Architects | Partners in 1986. The studio produces work for institutions of all kinds, with a focus on organizations and people who value issues of aspiration and meaning, timelessness and beauty.
“We are honored to host Billie Tsien as our first lecturer of the season,” said Marvin J. Malecha, president and chief academic officer of the NewSchool of Architecture & Design. “As both an educator and leader in the industry, Billie displays a deep commitment to making the world a better place through architecture. Her voice and influence is one we value deeply value in educating our students.”
Because of the popularity of the lecture, NewSchool asks that all attendees RSVP. For more information on how to register, click here/
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City of San Diego Earns Perfect
Municipal Equality Index Score
The city of San Diego was awarded a perfect score of 100 points in the Human Rights Campaign’s 2016 Municipal Equality Index (MEI). Of the 506 cities reviewed in this year’s report, 60 received a perfect score of 100 points. While the Human Rights Campaign does not award scores over 100, San Diego earned 10 additional bonus points above its perfect score.
“I am extremely proud of the work San Diego has done to continue to be a nationwide leader in promoting equality,” said Councilman Todd Gloria. “Our region has benefited from a history of strong LGBTQ leadership and though we have come a long way, we must always look for ways to improve to ensure every person is afforded their basic rights, respect, and dignity.”
The 2016 MEI is the fifth edition of the index and cities were scored based on categories including non-discrimination laws, municipality as an employer, municipal services, law enforcement, and relationship with the LGBTQ community.
The city was recognized in the report for its progressive laws, policies and services, including revisions approved by the City Council last year to the San Diego’s Nondiscrimination in Contracting Ordinance proposed by Gloria which added gender identity and gender expression as types of unlawful discrimination.
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Deadline to Register
to Vote is Next Monday
By City News Service
Just one more week is left to register to vote for the Nov. 8 general election, or to re-register for those who have moved or wish to change parties.
The deadline to register is next Monday, and can be done online at registertovote.ca.gov. Forms can also be obtained at many government offices, such as the Department of Motor Vehicles, post offices, public libraries and county registrar of voters offices.
Those who are registered are being encouraged to sign up for mail-in ballots. Because there are so many state and local propositions — some of them complicated — election officials hope that people will vote at home, which will reduce wait times at polling places next month.
The last day to apply for a mail ballot is Nov. 1. However, the faster the ballots are filled out and returned, the sooner the votes will be recorded, according to the Registrar of Voters Office.
The ballots and other voter materials are so big that the Board of Supervisors will be asked Tuesday to spend an additional $1.8 million to cover printing and mailing costs. Voters will receive a two-card ballot for the first time.
The election will determine races for president, members of Congress and the state Legislature, and decide 17 state propositions.
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Navy’s Pacific Fleet to be Outfitted
With Freedom View LED Videoscope
Optim LLC, a Massacusetts manufacturing company, has been awarded an $860,000 contract to supply its newest product, the FreedomView LED Videoscope, to the United States Navy, Fleet Logistics Center in San Diego. The Videoscope will be outfitted in all Pacific Fleet ships.
The intended application for the FV Videoscope is for gas turbine system technicians to conduct preventative/corrective maintenance on gas turbine generators, propulsion engines and their supporting systems. These technicians use the FV Videoscope as their tool to maintain gas turbine engines and main propulsion machinery including gears, shafting, and controllable pitch propellers.
The company said the lightweight FV Videoscope is ideal for this type of field inspection with its patented, integrated LED light source and sleek, compact handle design. It offers greater flexibility while providing exceptional light quality and visual clarity to allow a wide range of non-destructive visual inspection tasks, quickly and easily.
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Community College District Gets
Highest Bond Rating from Moody’s
The San Diego Community College District has received the highest possible bond ratings from Moody’s Investors Service, which has upgraded the District from Aa1 to Aaa.
Moody’s has departed from its historical practice of not awarding its highest rating to an apportionment funded community college district due to the SDCCD’s healthy financial position, sound fiscal planning and management, strong reserves, outstanding independently prepared audits and “the strong management team leading the district.” This is the third time the district’s bond rating has been upgraded since 2005 by Moody’s Investors Services.
Standard & Poor’s has reconfirmed its AA+ rating but changed its rating outlook to positive. This means the district is being monitored for AAA rating over the next two years. The outlook revision reflects in S&P’s view, “the district’s continued maintenance of very strong fund balances and positive operational performance.” This is the second time the district’s bond rating has been upgraded since 2005 by Standard & Poor’s and the first time that the district moved from a “stable” outlook to a “positive” outlook by S&P.
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THE LONG GOODBYE
Petty Officer 2nd Class Ricardo Avalos, from San Diego, hugs his children goodbye as he prepares to depart on deployment aboard the amphibious transport dock ship USS Somerset. Somerset is on its maiden deployment as part of the Makin Island Amphibious Ready Group, with the embarked 11th Marine Expeditionary Unit in support of the Navy’s maritime strategy in the U.S. 3rd, 5th and 7th Fleet areas of responsibility. (U.S. Navy Photo By Petty Officer 2nd Class Jacob I. Allison)
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Personnel Announcements
OliverMcMillan Hires COO and Promotes 2 Executives
OliverMcMillan announced the hire of senior real estate manager and industry veteran Michael O’Hanlon as the firm’s new chief operating officer, and the promotion of two executives, Jeff Zeigler and Eric Buchanan.
O’Hanlon will be responsible for implementing the company’s strategic plan, managing all aspects of the OliverMcMillan organization and furthering the company’s growth. He has over 35 years of experience in real estate management, development, portfolio strategy operations, capital markets transactions and joint ventures. He has directed two major U.S. real estate company’s asset management groups with portfolios of diversified real estate assets valued at approximately $6 billion and $11 billion respectively, and most recently served as CEO and President of Behringer Harvard’s opportunity-style real estate investment trusts.
Zeigler, a member of OliverMcMillan’s Executive Committee, was promoted to senior managing director of asset management and leasing.
In his new role, he will oversee both leasing and asset management of the firm’s property portfolio. Zeigler joined OliverMcMillan in 2011 and most recently led the Retail Services group.
Buchanan was promoted to join the Executive Committee and lead the firm’s development activities as senior managing director of development.
In his new role, Buchanan will lead all development and construction activities for the firm and will be responsible for seeking and vetting potential mixed-use development acquisitions.
