Daily Business Report-June 26, 2018
General Atomics’ MQ-9B SkyGuardian RPA (Photo courtesy of General Atomics)
General Atomics to fly first trans-Atlantic
flight of its MQ-9B SkyGuardian Drone
On July 10-11, General Atomics Aeronautical Systems Inc. plans to make the first-ever trans-Atlantic flight of a medium-altitude, long-endurance remotely piloted aircraft. The company-owned MQ-9B SkyGuardian RPA is scheduled to fly from the company’s Flight Test and Training Center in Grand Forks, N.D. to Royal Air Force Fairford in Gloucestershire, UK.
The aircraft will then be on static display July 13-15 for the Royal International Air Tattoo airshow being held at RAF Fairford. The flight and display will commemorate the RAF’s centenary celebration.
“General Atomics is proud to have supported the RAF over the past decade with our MQ-9 Reaper. In honor of the RAF100 celebration, and to demonstrate a new standard in RPA flight endurance, we will fly SkyGuardian across the Atlantic,” said Linden Blue, CEO. “Given the distinguished 100-year history of the RAF, we believe that this flight is an appropriate way to celebrate the RAF’s position as a leader in innovation.”
In 2017, General Atomics and the RAF marked the 10-year anniversary of RAF MQ-9 operations, which coincided with the RAF completing 100,000 flight hours with its Reaper force. The entire Reaper fleet has completed over 2 million flight hours to date and is comprised of over 300 aircraft within the NATO alliance. The RAF is acquiring MQ-9B SkyGuardian as part of its PROTECTOR RG Mk1 program.
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‘Economics of Rent Control’ topic
of real estate groups’ July 10 panel
The “Economics of Rent Control” will be debated by an expert panel at a gathering July 10 sponsored by the Commercial Real Estate Alliance of San Diego (CRASD) and San Diego Association of REALTORS (SDAR) Government Affairs.The networking event takes place at Ballast Point Miramar, from 4:30 to 7 p.m.
While most will agree there is a housing crisis in San Diego, rent control may or may not be part of the answer. Currently, there are 10 cities in which signatures are being gathered to place rent control on the ballot. In San Diego County, National City is one of these communities. The panel will look at what rent control is, what the economic data tells us, and what the realities are for renters, property owners, investors, and city governments.
Jim Taylor of SVN Asset Advisory Group moderates the panel that includes:
- Norm Miller, The Ernest W. Hahn Chair in Real Estate Finance, University of San Diego
- Robert Vallera, senior vice president and partner, Voit Real Estate Services
- Dan Floit, 0wner, Floit Properties
Tickets to the event are $25 for CRASD/SDAR members, and $35 for non-members. Tickets include two complimentary drink tickets and appetizers.
Register: www.sdar.com/rentcontrol.
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AbbVie and Scripps Research
Collaborate on cancer fight
AbbVie, a Chicago research-based global biopharmaceutical company, and Calibr, a nonprofit drug discovery division of Scripps Research, announced a collaboration to develop T-cell therapies aimed primarily at cancer, including solid tumors. The collaboration broadens AbbVie’s oncology research to access advanced precision medicine technology to expand the development of potentially life-changing treatments for patients with cancer.
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Cubic to provide Queensland’s
new ticketing system
Cubic Transportation Systems has been selected by the Queensland Department of Transport & Main Roads to provide a new ticketing system for the state. Cubic was awarded the contract, worth approximately $276 million, to design, build and operate the new ticketing system as part of Queensland’s investment in ticketing.
Cubic will be responsible for upgrading the current system to incorporate some of the world’s most advanced ticketing technologies including contactless payment and next-generation real-time passenger information. Operation and maintenance of the system are also included in the agreement. The new system will enable Queensland commuters to use bankcards, mobile phones and personal electronic devices including watches to pay for travel on public transport.
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Cash-strapped borrowers
beware of pink-slip loans
Lucas Public Affairs
Legislation to protect cash-strapped Californians from falling victim — and losing their cars — to high-interest loans against their paid-off cars failed in the Senate Banking Committee. The committee could revive the bill by Assemblywoman Monique Limón, a Santa Barbara Democrat, on Wednesday.
Background: In 2016, people took 108,000 title loans totaling $433 million, and 20,648 vehicles were repossessed because borrowers failed to make the payments, a Senate analysis says. The loans can carry interest rates of 70 percent or more. Limón’s bill would cap interest at 36 percent.
Rosemary Shahan of Consumers for Auto Reliability and Safety: “It’s legalized loan-sharking.”
Lobbyist Joe Lang, representing Community Loans of America: “For many consumers who have low credit scores, who … don’t have any other options, you will be removing their last credit option.”
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County moving to transfer animal
services to San Diego Humane Society
County Animal Services is in the final week of transferring jurisdiction over the animals of six contract cities to the San Diego Humane Society. The county’s contracts with the cities of Carlsbad, Del Mar, Encinitas, San Diego, Santee and Solana Beach expire Saturday, June 30. The Board of Supervisors voted in March 2017 to let the city contracts end when they expire.
The cities chose to contract with the Humane Society, which will take jurisdiction of the animals in those cities on July 1. The county’s Gaines Street shelter in the Morena neighborhood belongs to the city of San Diego so it will also be turned over to the Humane Society.
All three of the county’s shelters will close at 1 p.m. on June 30 to transfer any animals from the contract cities to the Humane Society and finalize the move out of the Gaines Street facility. The county’s two shelters in Carlsbad and Bonita will reopen for their regular hours on July 1. County Animal Services will continue to serve the unincorporated area.
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Gafcon acquires McDowell Scheduling
Gafcon Inc., an award-winning construction and program management firm based in San Diego, is expanding its construction expertise with its recent acquisition of Orange County-based McDowell Scheduling, experts in efficient planning for complex construction projects.
McDowell utilizes sophisticated software and decades of experience to identify challenges and potential delays, helping clients develop projects on time and under budget, according to Gafcon. The firm’s experience ranges from developing and monitoring schedules for private organizations like Downtown Disney to planning large-scale public transportation projects for Caltrans.
McDowell Scheduling was founded by Philip McDowell in 1988. It has been responsible for more than 3,000 project schedules. McDowell joins Gafcon as its director of scheduling.
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Heron Therapeutics announces public
common stock offering of $200 million
San Diego-based techology company Heron Therapeutics Inc. announced an underwritten public offering of approximately $200 million of shares of its common stock. In addition, Heron has granted the underwriter of the offering a 30-day option to purchase up to an additional $30 million of shares of its common stock. All of the shares of common stock in the offering are to be sold by Heron. Heron intends to use the proceeds for the commercial launch of HTX-011, if approved by the U.S. Food and Drug Administration, the continued commercialization and marketing of
Sustol and Cinvanti, the company’s ongoing and future clinical trials, including further clinical studies for HTX-011, preclinical development work, other product development activities and general corporate purposes.
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Endeavor Bank Begins Trading
Under Ticker Symbol OTC: EDVR
Endeavor Bank (OTC: EDVR), a San Diego business bank, announces its new ticker symbol trading on the OTC Markets. Effective June 5, 2018, the Bank’s common shares will trade on the OTC Markets under the symbol “EDVR.”
“This is another important step in our journey. We are pleased to be trading under our new ticker symbol which will provide greater exposure and opportunity to our shareholder base,” said Dan Yates, CEO of Endeavor Bank.
To learn more or obtain a live stock quote for “EDVR”, visit www.otcmarkets.com.
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Supreme Court rules on mobile
location data: get a warrant
The U.S. Supreme Court on Friday ruled that data generated by mobile devices – including mobile phones — that can be used to track individuals is protected by the Fourth Amendment, which guards against unreasonable search and seizure. he long-awaited ruling in the case of Carpenter v. U.S. was decided by a margin of 5-4, with all of the justices who joined the majority issuing a single opinion.
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Harbor Drive closure
planned for Comic-Con crowds
sdnews.com
The San Diego Convention Center, the City of San Diego and the Port of San Diego have announced a new traffic route that creates a pedestrian-only experience during Comic-Con International, July 18-22.
Harbor drive will be closed to vehicle traffic (including bikes, scooters and skateboards) between First Avenue and Park Boulevard during Comic-Con, with the exception of shuttle buses and emergency vehicles. Cars will be screened for Convention Center parking garage access at First Avenue. A second screening location will be at Park Boulevard.
Only badged members (attendees of Comic-Con) may access the front drive, stairs and surrounding sidewalks of the San Diego Convention Center.
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