Daily Business Report: May 27, 2021
NBA Hall of Famer Bill Walton joins
coalition to fight utility-backed solar bill
Bill Walton, iconic NBA legend, broadcaster, and current Solar Evangelist for San Diego-based Stellar Solar, has teamed up with the California Solar and Storage Association (CALSSA) and a coalition of solar consumers and environmentalists to oppose AB 1139 (Gonzalez). Their joint efforts will bolster the fight against the utility-backed legislation that would kill the residential and commercial rooftop solar industry in California and the 65,000+ jobs that go with it, according to the coalition.
AB 1139 would mandate a $70 monthly fee for all solar systems – AND slash export credits by 80 percent — making rooftop solar more than twice as expensive as it is today, reversing course on promises made by the state.
According to the coalition, residential solar would go from a 5-7 year payback to 20-50 years. Commercial solar would be equally hard hit including schools, farms, and faith based organizations. Solar systems paired with energy storage would not escape the negative economics proposed by this bill – drastically impacting the battery storage industry as well.
PHOTO: Stellar Solar solar evangelist Bill Walton sporting his Stellar Solar Track Club shirt at his solar powered home in San Diego.
San Diego City Council approves new
electric and gas franchise agreement with SDG&E
It was a close vote and required some additional financial concessions and commitments by San Diego Gas & Electric but the San Diego City Council on Tuesday approved a new electric and gas franchise agreement with the utility that can run as long as 20 years.
After a grueling session in which the outcome at times appeared uncertain, the council voted for a new deal on a 6-3 vote, just barely meeting the required two-thirds supermajority needed per the City Charter to finalize a new franchise agreement.
“While it is not everything that we wanted, it’s not everything SDG&E wanted either,” said Mayor Todd Gloria in a presentation that kicked off discussion of the item.
SBA launches Community Navigator
Pilot Program application
The U.S. Small Business Administrationannounced that it is accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach our nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as women and veterans. SBA will accept applications through July 12, 2021, and anticipates making award decisions by August 2021. The Biden-Harris Administration has made delivering equitable relief to hard-hit small businesses a top priority and will continue to take steps to ensure equitable distribution of relief.
For more information on the Community Navigators Initiative,click here
Proposal would limit number of out-of-state
students attending University of California
CalMatters
California would cut the number of out-of-state students attending the University of California in half over the next decade, freeing up more spots for Golden State residents, under a proposal top Senate Democrats are advancing in budget negotiations with Newsom. But while the idea could help mollify California taxpayers frustrated that their children aren’t able to get into the nation’s top public research university system, it’s opposed by UC itself, which says out-of-state and international students bring invaluable geographical diversity even as their higher tuition helps plug budget gaps, the Los Angeles Times reports. Meanwhile, more and more qualified students are applying for the same number of seats: UC received a record 250,000 applications for fall 2021, a 16% increase from the year before. And because UC recently announced it would no longer consider SAT and ACT scores in admissions and scholarship decisions, applications are likely to continue spiking.
Craig Miller promoted to Viasat
government systems president
Craig Miller, a 26-year veteran of ViasatInc., has been named president of the government systems business at the Carlsbad-based communications company.
Miller succeeds Ken Peterman in the role and leads Viasat’s global defense business in delivering new platforms to meet defense requirements in tactical data links, satellite networks, cybersecurity and information assurance, the company said.
Peterman, who served as head of government systems segment for eight years, transitioned to an advisory role and will work with Rick Baldridge, president and CEO of Viasat.
Since joining Viasat in 1995, Miller has held technology, strategic and business leadership positions. He most recently served as chief technology officer of the government systems business and launched the company’s government systems space business.
Viasat also promoted Evan Dixon, formerly vice president of global fixed broadband business, to the role of president of the business. Dixon joined Viasat in 2015 and has held a number of senior leadership roles since then, including VP and general manager of Viasat Europe and deputy CEO of the company’s prior joint venture with Eutelsat
Ken Aden to be inducted into the California
Homebuilding Foundation Hall of Fame
Kent Aden, an architect, developer and the visionary behind many of San Diego’s most honored master-planned communities, will be inducted into the California Homebuilding Foundation’s (CHF) Hall of Fame during a virtual gala 5-6 p.m., June 24.
Aden, the president of HomeFed Communities, is responsible for managing design, development and marketing for multiple villages, totaling 2,800 acres, in Chula Vista’s Otay Ranch; the 2,600-acre Fanita Ranch sustainable community in Santee, and the 700-acre SweetBay community in Panama City, Fla. He recently oversaw the completion of the 1,980-acre San Elijo Hills community in San Marcos.
Previously, Aden was the executive vice president of The Otay Ranch Company, responsible for implementing the first phases of the 23,000-acre Otay Ranch, which includes an 11,375-acre nature preserve.
He began his real estate development career at EastLake Development Company, where he rose to vice president of community development and was instrumental in the creation of the 3,200-acre EastLake, a model community in the 1980s.
Aden has been active in the San Diego Building Industry Association for 37 years and served as president in 2003. The chair of the 2008 Pacific Coast Builders Conference (PCBC), Aden was inducted into the San Diego Building Industry Hall of Fame in 2018. For 18 years he was a director of Housing Opportunities Inc., which developed affordable housing in San Diego County.
Gerald Ellison joins Higgs Fletcher & Mack
as information technology director
Veteran information technology executive Gerald Ellison has joined Higgs Fletcher & Mack as the firm’s information technology director.
Ellison has a long history of success as an IT executive with considerable experience in software development, enterprise architecture, virtualization, IT Training, and cybersecurity. Prior to joining HFM, Ellison served as the vice president of technology for Reliant Funding, and earlier in his career, he served as the vice president of information technology for ESET North America.
“Gerald is a true IT professional, with decades of experience working in the IT space. We are excited to welcome him to HFM,” said Steve Cologne, HFM’s managing partner.
Ellison was named the “Information Technology Executive of the Year” in 2009 by the San Diego Business Journal and has also been named as one of the “Top Technology Executive” nominees by the San Diego Business Journal several times. He earned a Bachelor of Science degree in Finance from the University of Maryland.
Airspace expands leadership team with
appointment of Anna Goranson as head of people
Airspace, a leader in time-critical shipping, has added Anna Goranson as head of people. In this executive leadership role, Goranson will scale up recruitment to support business growth, expand the company’s sustainability program, and further develop the people-centric culture at the venture-backed logistics startup headquartered in Carlsbad.
As Head of People at Airspace, Anna will bring over 20 years of human resources management, recruiting, and culture-building experience. Most recently, she held a similar role at MediaAlpha, where she helped to grow the real-time, programmatic technology platform by 133 percent over 1.5 years.
Prior to that, she was global director of people and culture at AvePoint, an expert Microsoft services provider with over 1,800 employees worldwide.
Goranson started her career at Weinstein Properties, a commercial/residential real estate, property management, and development company, where she managed talent acquisition and navigated culture development while the company tripled in size through numerous mergers and acquisitions.
Parallel Capital Partners inks deal with
architectural firm at Arizona Center
San Diego-based Parallel Capital Partners Inc. announced $8 million in retail and commercial lease deals at Phoenix’s mixed-use hub, Arizona Center – including an 11-year lease renewal spanning 22,858 square feet with global architectural and design firm, SmithGroup.
Expanding Arizona’s Center’s growing mix of retail options are a new 1,276-square-foot Jersey Mike’s sandwich shop and a 459-square-foot boutique shop, Made on Planet Earth, which curates unique items from around the globe.
Brett Abramson of JLL represented Parallel Capital Partners and Andrew Cheney of Lee & Associates represented SmithGroup. Brent Mallonee of Cushman & Wakefield represented Parallel on the retail leases.
Plant-based fast food chain completes
$7.5 million Series A capital raise
San Diego-based Plant Power Fast Food has completed its $7.5 million Series A capital raise led by Helia Capital USA Inc. (a subsidiary of Fusion Ventures), Eat Beyond Global Holdings and Batta Foods with additional funding from Aileen Getty.
Co-founder and co-CEO Zach Vouga said that the funds will be used by the plant-based fast-food restaurant chain to continue to execute its expansion plans with a focus on new corporate unit development. Vouga also spoke about finding the right investment partners, “It’s important that the capital comes in tandem with an unwavering belief in our mission to change the world.”
First clinical trial to assess Alzheimer’s
gene therapy receives $5 million
The National Institute on Aging (NIA), part of the National Institutes of Health, has awarded a $5 million grant to researchers at University of California San Diego School of Medicine to conduct a first-in-human Phase 1 clinical trial of a gene therapy for treating Alzheimer’s disease (AD) or Mild Cognitive Impairment (MCI), a condition that often precedes full-blown dementia.
Gene therapy is an experimental technique that uses genes or gene products to treat or prevent disease instead of relying on drugs or surgery.
The clinical trial, developed by principal investigator Mark Tuszynski, MD, PhD, professor of neuroscience and director of the Translational Neuroscience Institute at UC San Diego School of Medicine, delivers the brain-derived neurotrophic factor (BDNF) gene into the brains of qualifying trial participants where it is hoped it will prompt production of BDNF in nearby cells.
