Daily Business Report-June 25, 2020
Initiative is focused on looking at who is leading companies and organizations.
San Diego Regional Chamber Foundation drives
efforts to place more women on boards, commissions
The San Diego Regional Chamber Foundation, in partnership with Mine The Gap, has launched a new initiative to drive efforts to place more women on boards and commissions in the region.
The initiative, “All Our Talent: Women on Boards and Commissions,” is focused on looking at who is leading companies and organizations and ensuring that leadership is diverse and gender balanced.
According to the research conducted through the All Our Talent initiative, of the 88 public companies headquartered in San Diego, 23 percent of the board seats are held by women. And, of the 27 largest private companies headquartered in San Diego, only two have female CEOs. This is compared to nonprofit boards where of the 51 largest nonprofit organizations, 34 have male board chairs, 14 have female board chairs, and 3 were unspecified. On City of San Diego-appointed boards and commissions, 53 percent of board seats are held by men and 47 percent by women. Sixty-five percent of county board and commission seats are held by men and 35 percent are held by women.
“The success of our region depends on ensuring that we have diverse voices at the table leading our businesses, governments, and nonprofit organizations,” said Chamber Board Chair and SDG&E CEO Caroline Winn. “That’s why I am excited to help lead this groundbreaking initiative to leverage all of our talent in the San Diego community and support the women interested in serving on local boards and commissions.”
According to the foundation, studies show that organizations perform better, are more successful, and have a competitive advantage when they are driven by a diverse and gender-balanced leadership.
_______________________________
Sempra Energy completes $2.23 billion
divestiture of Chilean businesses
Sempra Energy announced that it has completed the sale of its Chilean businesses, generating approximately $2.23 billion in total cash proceeds, subject to post-closing adjustments.
The sale to State Grid International Development Limited (SGID) includes Sempra Energy’s 100 percent stake in Chilquinta Energía S.A.
“Today’s announcement completes the divestiture of all of Sempra Energy’s South American assets – an important step in narrowing our strategic focus to the most attractive markets in North America,” said Jeffrey W. Martin, chairman and CEO of Sempra Energy. “This sale furthers our mission to be North America’s premier energy infrastructure company.”
The sale also includes a 100 percent interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energía and third parties, and a 50 percent interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission facilities.
The completion of the Chilean transactions concludes Sempra Energy’s sales of its South American businesses, resulting in approximately $5.82 billion in combined total cash proceeds, subject to post-closing adjustments. Proceeds from the sales will be used to further strengthen the company’s balance sheet and liquidity position.
_______________________________
Forbes School of Business & Technology
launches Center for Women’s Leadership
The Forbes School of Business & Technology at Ashford University in San Diego announced the launch of its Center for Women’s Leadership, a network of scholars, practitioners and students who seek to advance the standing of women in leadership, and enhance their knowledge, expertise, and research in this important area.
A virtual launch event will be held on Friday at noon. with keynote speakers and a preview of the services and benefits of the center. Registration is available by clicking here.
The speaker line-up features Margie Warrell, a seasoned media commentator, Forbes contributor, bestselling author and sought-after international speaker; Geraldine (Gerri) Wilson, chief of staff at Perkins Management Services Company, Ashford alumna and doctoral candidate; and Robert (Bob) Daugherty, dean of the Forbes School of Business and Technology.
_______________________________
State budget deal shields neediest
Californians, shifts burden to middle class
Middle-class families will likely bear the brunt of budget cuts under an agreement reached by Gov. Gavin Newsom and the Legislature to patch the state’s $54 billion deficit, while the neediest Californians are largely spared.
Unless the federal government supplies billions of dollars in aid by Oct. 1, state employee salaries will be slashed by 10 percent and the University of California and California State University systems will take a combined $602 million hit — likely leading to an eventual tuition hike on families who don’t qualify for financial aid, CalMatters’ Laurel Rosenhall reports.
_______________________________
Navy leases underutilized Coronado
school for military child care facility
Naval Facilities Engineering Command Southwest has leased an underutilized school in Coronado to use as a military child care facility.
The lease from Coronado Unified School District will support a much-needed demand for military child care in the San Diego area, as the Navy currently has a waiting list of over 2,000 in the county, over 500 of which are children of Navy personnel assigned to installations in Coronado.
“This project is truly rewarding and a win-win for both the Navy and CUSD,” said Rear Adm. Bette Bolivar, commander of Navy Region Southwest. “Under this lease, the Navy will operate an otherwise underutilized school to fulfill the child care needs of military families.”
The lease of CUSD’s underutilized school will provide a facility that can accommodate about 200 children, providing affordable, quality child care to help meet the readiness requirements of military families.
_______________________________
Australian government to provide funding for
added MQ-4C Triton UAVs from Northrop Grumman
The Australian government will provide funding for an additional MQ-4C Triton aircraft and associated ground mission control stations from Northrop Grumman, bringing its current total commitment to three aircraft. Australia currently intends to purchase six aircraft.
A cooperative development program between the Royal Australian Air Force and the U.S. Navy, the MQ-4C Triton provides a round-the-clock maritime wide-area intelligence, surveillance and reconnaissance capability. With its ability to operate at altitudes exceeding 50,000 feet and cover more than two million square miles of ocean and littorals in a single flight, Triton provides what Northrop Grumman describes as “unprecedented awareness to operational commanders’ common operating pictures.”
With a program of record for 68 aircraft, the U.S. Navy is planning five operational Triton orbits across the world. As one of the United States’ key allies and a strategic partner in the Pacific, Australia would be able to provide a sixth.
_______________________________
UC San Diego named among top 10
public universities for LGBTQ+ students
The University of California San Diego has been named the ninth best public university in the nation for LGBTQ+ students according to a new ranking by Campus Pride in partnership with BestColleges. The “2020 Best Colleges for LGBTQ+ Students” ranking, which placed the campus 17th overall, recognizes higher education institutions that provide both a quality academic experience as well as a safe and inclusive space for lesbian, gay, bisexual, transgender and queer (LGBTQ+) students.
_______________________________
Maritime Museum to reopen to public on July 1
Maritime Museum of San Diego will reopen to the public on Wednesday, July 1, after being closed since March 16 due to COVID-19. The Museum staff closely monitored the guidelines from the state, local and health authorities and have prepared the museum to abide by public health safety and CDC recommendations to ensure visitors enjoy a clean and safe experience, according to the museum announcement.
One of the methods employed to maintain safe social distancing practices is to limit visitor capacity to 25 percent of the museum’s normal capacity. According to Raymond Ashley, president/CEO of the museum, “the museum experience is spread out among multiple vessels, which leads me to believe we will not need to turn away guests or members with this new limit, but it’s a nice problem to have.”
Protecting visitors and preventing the spread of COVID-19 during this global
New Museum Hours
The museum has condensed hours of operation from 10 a.m. to 5 p.m. Tickets may be sold until 4 p.m. for same day visits, and are based on the new reduced capacity.
_______________________________
Living Coast Discovery Center
to reopen to public on July 3
The Living Coast Discovery Center, a nonprofit zoo/aquarium on San Diego Bay in Chula Vista, will reopen to the public on Friday, July 3.
New Hours: The Living Coast will be open 10 a.m. to 4 p.m. Friday through Sunday only for this initial phase of re-opening. The center will also have limited availability for pre-booked, private tours Monday through Thursday.
Semi-private “Meet-n-Greet” animal encounters with one of the Living Coast’s animal ambassadors and a keeper are also available for an additional $5/person.
It is strongly recommended (although not required) that guests purchase tickets and/or memberships online before their visits to minimize wait times/contact. Coupons and memberships that were still valid on March 15, 2020 will be extended by four months, due to the COVID-19 closure.
Further details, including health and safety measures and admission requirements, can be found here
_______________________________
Jacobs Center for Neighborhood
Innovation seeks board member
The Jacobs Center for Neighborhood Innovation has announced a call for applications for a community board member. Open to individuals who live, work or otherwise demonstrate engagement with the Southeastern San Diego community, this position is an opportunity to give back through advocacy, leading a committee or project, supporting community events and more. Applications are due July 31.
Jacobs Center’s community board members support and encourage the organization’s vision – to be part of a caring community where: people are responsible to each other, all cultures are embraced, sustaining resources are in place for a vibrant economy and residents create the future they envision.
“We are looking forward to welcoming another community board member onto the Jacobs Center board. Having community board members has greatly enhanced our understanding of Southeastern San Diego neighborhoods and residents’ needs and goals,” said Valerie Jacobs Hapke, chairman of the Jacobs Center board. “We are seeking a volunteer who’s invested in this community and supports Jacobs Center’s mission to build communities and lift lives.”
The new community board member will take the place of outgoing board member and current vice chair, Laila Aziz, who is the program director at Pillars of the Community.
_______________________________
PriceSmart opens eighth club in Costa Rica
Resumes construction of new warehouse club in Colombia
San Diego-based PriceSmart Inc. said it opened its newest warehouse club on June 17 in Liberia, Costa Rica, bringing to 46 the total number of warehouse clubs in operation by the company.
The Liberia club is the eighth club in Costa Rica and is located in the Guanacaste province, approximately 130 miles from the nearest PriceSmart club and three hours from the capital city of San José. The Liberia club offers the Click and Go program.
The company also announced that it is resuming construction of a new warehouse club on 170th St. in Bogota, Colombia. The company expects to open what will be its 47th warehouse club in the second fiscal quarter of 2021.
