Daily Business Report: Monday, Nov. 8, 2021
Student veterans get a needed helping hand
from San Diego Community College District
San Diego Community College District has become a leader in helping veterans pursue their career goals through various support services and workforce training programs.
Whether looking to capitalize on GI Bill benefits, which help with tuition and provide book stipends and a housing allowance, or entering workforce training programs to help turn military experience into job skills that more easily translate to a new career, San Diego City, Mesa, and Miramar colleges, as well as the San Diego College of Continuing Education (SDCCD) have a variety of programs and classified staff to support active duty military, veterans, and military families.
The district, in fact, serves approximately 6,000 such students.
U.S. Navy veteran Amor Carchano wanted a college where he could study computer programming. After a visit to Miramar College, he fell in love with the beauty of the campus and the people. For Carchano, going to college was more than taking classes and getting good grades; he also wanted to give back to his military brothers and sisters, and his fellow students.
Carchano, who came to Miramar College in 2019, is enrolled in the information sciences program and plans to transfer to a four-year college. After earning a bachelor’s degree, Carchano hopes to work in higher education, specifically in support services.
In his free time, Carchano helps run the campus food pantry, Jet Fuel, and is president of the Student Veteran Organization (SVO). As part of the SVO, he makes it his goal to share campus resources, including Disability Support Programs and Services (DSPS), financial aid, and how to get involved in campus life, with student vets who may not know what is available to them while at Miramar College.
TOP PHOTO: Miramar student veteran Amor Carchano helps sort fresh vegetables during a JetFuel food distribution event.
All San Diego Congress members but Issa
vote to pass $1 trillion infrastructure bill
All members of the San Diego congressional delegation except Darrell Issa voted Friday to pass a $1 trillion bill to upgrade American’s crumbling roads, bridges, ports and other infrastructure.
Reps. Sara Jacobs, Mike Levin, Scott Peters and Juan Vargas, all Democrats, voted with the majority, while Republican Issa rejected H.R. 3684, the Infrastructure Investment and Jobs Act., saying earlier in the day that it “does not build — it destroys.”
The bill passed the Senate in August with 19 Republican votes, but got fewer Republican votes in the House when it passed 228 to 206.
President Biden vowed to sign the bill immediately, and passage in the House was seen as a substantial triumph after Democrats bickered for months over two ambitious spending bills that make up the bulk of his domestic agenda.
Stos Partners acquires corporate headquarters
and manufacturing facility in Poway
Stos Partners has acquired a 37,530-square-foot corporate headquarters and manufacturing facility in the City of Poway.
Under its ownership, Stos Partners plans to implement a series of capital upgrades including interior office rehabilitation, roof repair, and HVAC system replacement, among other improvements.
Located down the street from an 18,000-square-foot warehouse that Stos also owns, this property is located at 13955 Stowe Drive. The property was acquired from a private seller for $8.6 million.
JLL arranges $15 million refinance
for Monarch Cottages in La Jolla
JLL represented the borrower, Monarch Senior Living, in arranging a loan.
The services Monarch Cottage offer range from personalized lifestyle plans developed and implemented daily for each resident to specialized personal assistance, along with full access to experienced staff, gourmet meals and snacks tailored to each residents’ preferences, facility events, nutritious meal planning and holiday and other special events.
Monarch Cottage is located at 7630 Fay Ave.
Jury returns $2 million fraud verdict against
San Diego firm in roofing dispute
A Dallas County jury has returned a $2 million verdict against Rhino Lining Corporation, a San Diego-based spray-applied roofing products manufacturer, finding that the company failed to properly train and vet its recommended installer and did not thoroughly inspect the finished roof for a large commercial building in Sunnyvale, Texas. As a result, the property sustained significant damage and required extensive repairs.
According to allegations in the lawsuit filed by the building’s owner, those failures by the management of Rhino Linings Corporation resulted in the building experiencing more than 200 leaks and required the installation of a new metal roof over the Rhino Linings products to prevent further damage.
On Nov. 4, a 12-person jury in the 44th District Court in Dallas County unanimously found that Rhino Linings committed fraud, negligent misrepresentation, negligence, and gross negligence and returned actual and punitive damages on behalf of Dallas-based 2×2 Partnership Limited.
MetroConnect alum Cloudbeds raises $150 million
Cloudbeds has raised a $150 million Series D round to expand its hospitality management software as San Diego’s tourism cluster moves toward recovery. Cloudbeds participated in year five of World Trade Center San Diego’s MetroConnect export assistance program, which provides businesses with a $5,000 grant, access to translation software, the chance to win a $25,000 grand prize, and more. MetroConnect is accepting applications for its sixth cohort. Apply by Nov. 15.
Shoreline Biosciences raises $140 million
to develop universal cancer treatment
Shoreline Biosciences has raised $140 million to fund a one-size-fits-all strategy that would use immune cell therapies to work across patients. Shoreline aims to use its therapies to equip natural killer cells with proteins they’ll need to recognize and fight against different cancer types. The company expects to begin clinical trials by the end of 2022 and have one to two drugs entering clinical trials each year that follows.
San Diego Regional EDC teams with GoSite
to help small businesses succeed
San Diego Regional EDC is teaming with GoSite to provide free business tools and resources for up to 100 small businesses in the San Diego region. All are welcome to apply, but GoSite works best for small businesses that sell services.
As part of their commitment to reducing economic inequality, preference will be given to minority, women, veteran, disabled, and other economically impacted small business owners, who have been disproportionately affected by the pandemic.
SDSU receives Seal of Excelencia
for commitment to Latino students
San Diego State University was named among the 10 universities to receive the Seal of Excelencia granted by Excelencia in Education — an organization dedicated to closing the education equity gap and increasing Latino degree holders — it was announced Friday.
San Diego State was also just recognized this month by Hispanic Outlook in its Top 100 Colleges and Universities for Hispanics list. The higher education magazine ranked SDSU 43rd in the nation for its enrollment of Latino students and 25th for conferring the most master’s degrees and 16th for conferring the most bachelor’s degrees on Latino students.
Torrey Pines’ Tentarix Biotherapeutics
secures $50 million in Series A funding
Tentarix Biotherapeutics secured $50 million in Series A funding to back the development of its novel biotherapeutics platform. The funding round was led by Versant Ventures, a health care venture capital firm with $4.2 billion under management and Samsara BioCapital, a biotech investment firm based in Palo Alto. The early-stage biotech is headquartered in Torrey Pines and has more than 30 employees based in San Diego and Vancouver, British Columbia.
Fouders First to award $100,000 to 30
Southern California businesses
Founders First announced that it will award a total of $100,000 to 30 businesses in Southern California to be used as growth capital to hire or rehire premium wage jobs.
To qualify, applicants must have a current staff of 2-20 employees, have the ability to ad 1-2 net new premium wage jobs in the next 12 months, and must have annual revenues between $100,000 and $3 million. The application deadline is Nov. 3.
A total of $100,000 will be awarded to 30 small businesses: $10,000 grant, $4,000 grant, $2,500 grants, $1,000 grants. In addition, each grant recipient will receive a tuition scholarship for one of Founders First CDC’s stellar business accelerator programs.
For more information, click here
21st annual Residential Real Estate Conference: Outlook 2022
The Burnham-Moores Center for Real Estate will hold its 21st annual Residential Real Estate Conference: Outlook 2022 online on Wednesday, Dec. 1, featuring keynote speaker Frank E. Nothaft, chief economist for CoreLogic, the provider of advanced property and ownership information. Time: 11 a.m. to 12:30 p.m.
Other featured speakers will include: Lori Holt Pfeiler, president and CEO of the Building Industry Association of San Diego County, and Norm Miller, Hahn Chair of Real Estate Finance at the University of San Diego School of Business.
