Daily Business Report: Oct. 19, 2021
California’s gas lawn equipment ban
hits the little guys
A new state law to eliminate gas-powered lawn equipment sounds
reasonable, but it messes with the lives of small landscapers
By Dan Walters | CalMatters
Gov. Gavin Newsom’s signature on Assembly Bill 1346 makes one wonder whether California politicians ever fully understand — or even want to understand — the ramifications of their decisions. The measure aims to eliminate the sales of gasoline-powered lawn equipment, such as mowers, string trimmers, blowers and other devices, within a few years. Mowing a lawn once a week is one thing, but pros do it a dozen or more times a day to keep their families housed and fed. They would have to not only buy the equipment but dozens of batteries and chargers and have the facilities, including sufficient electric power supplies, to recharge those batteries.
Under AB 1346, the California Air Resources Board will decide how and when sales of gas-powered devices will be prohibited and it could be as early as 2024. A shift to battery-powered machines presumably would occur as older devices need replacement.
TOP PHOTO: canstock
San Diego Tourism Authority launches its
diversity, equity and inclusion tourism accelerator
The San Diego Tourism Authority (SDTA) has launched its Tourism Accelerator pilot program—one of the first in the country—that is designed to promote diversity, equity and inclusion in the local tourism industry by providing free membership, mentoring, education and networking opportunities to businesses owned by people of color, LGBTQ+, women and veterans.
Bank of America and San Diego Gas & Electric are the co-sponsors of the pilot program, which will offer participants a suite services valued at over $10,000, including:
• Complimentary Membership in SDTA and free admission to select SDTA events as well as special access to SDTA senior staff, board members and program investors.
• Coaching from a dedicated mentor who is a successful operator or owner of a tourism or hospitality business.
• Financial coaching from Bank of America and legal training from Procopio LLP.
• $500 voucher for a course through UC San Diego Extension.
• A $1,000 credit to use on SDTA’s digital advertising platforms.
• Two free quarter-page ads in both the San Diego Business Journal and San Diego Magazine for those businesses that are not already advertisers.
As circulation dives, U-T publisher sees
Sunday-only paper in its ‘digital future’
Times of San Diego
Days after his newspaper posted another sizable decline in daily circulation — to an average 66,192 copies — publisher Jeff Light said that The San Diego Union-Tribune would someday publish only once a week.
“Our plan for the Union-Tribune, like all big newspapers, calls for a digital future, with Sunday remaining in print,” he said via email. “We have robust business planning for the future of the company that we put in place back in 2017, and we have been hitting all of our marks.”
As he did last year — when average circulation fell from 104,377 to 87,834 — Light said the U-T was a “strong and profitable company.”
But if the 14.4 percent average annual decline over the past five years isn’t reversed, the print U-T is on track to sell 56,661 daily papers in 2022, 48,502 in 2023, 41,518 in 2024, 35,540 in 2025 and a paltry 30,422 in 2026 — all in a county with about 1.13 million households.
Illumina commits to 100 percent renewable
energy from San Diego Community Power
San Diego-based Illumina has committed to San Diego Community Power (SDCP), the not-for-profit community choice energy program. SDCP will provide all current San Diego-based Illumina facilities with 100 percent renewable, 100 percent carbon-free-electricity.
“Illumina is proud to be an advocate for clean energy. Partnering with San Diego Community Power enables us to work toward our goal of net-zero greenhouse gas emissions by 2050,” said Athena Harrington, vice president of facilities at Illumina. “Being able to reach our sustainability goals with a cost-competitive product for facility electricity is a gamechanger for us.”
Earlier this year, Illumina set verified science-based emission reduction targets across their entire value chain that are consistent with keeping global warming to 1.5°C above pre-industrial levels.
SDCP launched commercial and industrial service for 72,000 customers in San Diego, Chula Vista, Encinitas, Imperial Beach, and La Mesa in June of this year.
SDSU leads collaborators to detect oil spills sooner
As the recent Orange County oil pipeline leak continues to damage Southern California beaches and ecosystems, an interdisciplinary team of San Diego State University researchers and alumni are creating tools to identify early signs of offshore spills.
“The goal of reliably detecting oil spills as rapidly as possible is important in being able to reduce the environmental adverse impacts,” said chemistry professor Dave Pullman.
“This spill in Huntington Beach we couldn’t have necessarily prevented, but we could have made the warning much earlier so they could have responded earlier,” said Chris Chase, business development manager for San Diego-based InterOcean Systems.
Biological Sciences launches immersive work
experience and corporate affiliates programs
A bold new strategy designed to help UC San Diego students maximize their education and training experiences in the life sciences has been launched by the Division of Biological Sciences.
In June, the division established a Cooperative Education (Co-Op) Program that offers a paid, yearlong immersive work and training experience in an industrial setting. In tandem with the Co-Op Program, the division also initiated a Biological Sciences Corporate Affiliate Program, or “BioCAP,” to strengthen links to the San Diego region’s deep roster of life sciences and biotechnology companies.
To join the Co-Op Program, companies become BioCAP partners with an annual membership to invest in the training and professional development of future leaders of the life sciences industry. Discussions are underway to include companies from other biotech-rich regions in California, across the country and internationally.
Fourth-year human biology major Siara Magee is one of the first students taking part in a new UC San Diego Co-Op Program that offers an immersive work and training experience in an industrial life sciences setting.
Synergy One Lending announces $50 million capital raise
Synergy One Lending Inc., based in San Diego, announced it has completed a $50 million corporate note financing with a consortium of institutional investors. The company intends to accelerate its investment in the growth of its distributed retail and consumer direct channels, technology and partnership development, as well as its servicing portfolio.
“Our ability to access the capital markets in this favorable environment provides tremendous lift as Synergy continues to evolve and thrive,” said Steve Majerus, CEO. “This bolsters our balance sheet at very attractive terms while allowing us to refine and improve our platform at a quicker pace.”
Synergy One Lending has grown over 500 percent in the past four years and the company executed a management buyout led by its current leadership team in April of 2020.
Spaero Triathlon launches with performance
triathlon gear and new ambassador team
Spaero Triathlon, a California-based advanced technical triathlon apparel brand formerly known as Wattie Ink, announces its new name, with a new line of advanced technical triathlon gear and robust ambassador team program.
Headquartered in San Diego, Spaero Triathlon will continue to be operated by CEO Ryan Cady and team of professionals.
“We have a stellar reputation for technical, high quality performance apparel. We are continuing to build on that eight-year foundation by working with some of the most advanced fabrics that deliver improved thermal regulation and superior aerodynamics,” said Cady. “I can’t wait to bring these new products to market with a new look and feel. We’re committed to taking triathlon training and racing apparel to the next level that will put athletes at every level at an advantage.”
Spaero Triathlon will continue to be manufactured in the company’s two wholly owned and operated facilities in San Diego and Mexicali, Mexico.
CoreLogic completes acquisition of
Closing Corp, a San Diego company
CoreLogic, a global property information, analytics and data-enabled solutions provider, announced the completion of its acquisition of all outstanding shares of ClosingCorp., a San Diego-based company.
ClosingCorp will continue to be led by Bob Jennings and remain headquartered in San Diego. The ClosingCorp team will join CoreLogic’s BUY segment which includes various solutions focused on the origination of home loans.
ClosingCorp’s intelligence and digital solutions broaden and add new capabilities for CoreLogic’s customers in such areas as assessing settlement service fees and mortgage tax obligations as well as access to title and closing services.
Discovery of new stem cells offers
hope to people with rare liver disease
Researchers from Sanford Burnham Prebys have discovered a new source of stem cells just outside the liver that could help treat people living with Alagille syndrome, a rare, incurable genetic disorder in which the bile ducts of the liver are absent, leading to severe liver damage and death.
The findings, published recently in the journal Hepatology, have extensive biomedical implications for Alagille syndrome and for liver disease in general, including cancer.
“We’ve been aware of the regenerative power of the liver for a long time, possibly even going back to the ancient Greek myth of Prometheus,” says lead author Duc Dong,
an associate professor in the Human Genetics Program at Sanford Burnham Prebys. “But the existence and nature of liver stem cells remains an intensely debated topic.”
The new study suggests that the reason these cells have been so hard to find may be that researchers have been looking in the wrong place.
How the brain ignores distracting
information to coordinate movements
As you read this article, touch receptors in your skin are sensing your environment. Your clothes and jewelry, the chair you’re sitting on, the computer keyboard or mobile device you’re using, even your fingers as they brush one another unintentionally—each touch activates collections of nerve cells. But, unless a stimulus is particularly unexpected or required to help you orient your own movements, your brain ignores many of these inputs.
Now, Salk researchers have discovered how neurons in a small area of the mammalian brain help filter distracting or disruptive signals—specifically from the hands—to coordinate dexterous movements. Their results, published in the journal Science on Oct. 14, 2021, may hold lessons in how the brain filters other sensory information as well.
