Daily Business Report: Thursday, Dec. 23, 2021
The world’s most valuable brands in 2021
Visual Capitalist
In 2020, the global economy experienced one of the worst declines since the Great Depression. Yet, while the ripple effects of COVID-19 have thrown many businesses into disarray, some companies have not only managed to stay afloat amidst the chaos—they’ve thrived.
Using data from Kantar BrandZ, this graphic looks at the top 100 most valuable brands of 2021.
The total value of 2021’s Top 100 brands grew by 42 percent, reaching a combined $7 trillion. At the top of the list, perhaps unsurprisingly, is Amazon, with a total brand value of $683 billion.
It’s the third consecutive year that Amazon has placed first on the list. Since last year’s ranking, the ecommerce brand has seen its value grow by 64 percent. Keep in mind, this accounts for all areas of Amazon’s business, including its web and subscription services.
Second on the list is Apple with a brand value of $612 billion. Apple wasn’t completely immune to the impacts of COVID-19—in the early days of the pandemic, its stock dipped almost 19 percent from record highs—but the company recovered and reported record-breaking revenue, generating $64.7 billion in Q4 2020.
TOP PHOTO: Amazon has a total brand value of $683 billion in 2021.
Fearing a big COVID surge, California reinstates
rules for private workplaces — and the vaccinated
By Emily Hoeven | CalMatters
A little more than a year after the first COVID-19 vaccines arrived in California, the state is bracing for yet another surge — and piling back on protections.
On Wednesday, the day California’s new indoor mask mandate went into effect, the state Department of Public Health quietly updated its online guidance to emphasize that the rules — which are set to last through Jan. 15 — apply to both public and private workplaces. Previously, the state had allowed most fully vaccinated workers to forgo masks.
Then the standards board of Cal/OSHA, the state’s workplace safety agency, voted Thursday to, among other things, eliminate some distinctions between vaccinated and unvaccinated workers. Under the new temporary COVID workplace rules, which are slated to last from Jan. 14 to April 14, workers exposed to someone who’s tested positive for the virus must quarantine for two weeks (though some asymptomatic vaccinated employees will have the option to wear masks and social distance), and companies must make free COVID tests available to them at work.
California State University system requires
COVID-19 boosters for students, faculty, staff
The California State University system announced that all students, faculty, staff and auxiliary employees, across its 23 campuses, including San Diego State University, will be required to have a COVID-19 booster on file to access campus facilities in spring 2022.
While the new requirement is going immediately into effect, represented employees will not be subject to the requirement until the CSU concludes its meet-and-confer process with its labor unions.
At SDSU, all students, faculty and staff eligible for the COVID-19 booster will be required to have their booster on file in HealtheConnect by Tuesday, Jan. 18, 2022 to be considered fully vaccinated. The CSU has implemented a system-wide “not to exceed” deadline of Feb. 28, but SDSU community members must be in compliance by Jan. 18.
Consumers expect in-store cannabis dispensary
shopping to equal traditional retail experiences
With 2021 legal cannabis industry sales nearing $31 billion, and the challenges presented by a growing cannabis black market, most Americans (76 percent) said they expect in-store cannabis dispensary shopping to equal traditional retail store experiences, according to a recent Harris Poll online survey commissioned by Urbn Leaf, California, acannabis retailer. Thirty-six percent say a clean store environment is one of the most important factors for a positive shopping experience; 32 percent want a variety of tetrahydrocannabinol (THC) percentage options, and 31 percent want educated sales associates.
“Consumers are demanding a new industry standard for cannabis retail, especially in light of the black market in California, which has no regulatory oversight or seed to sale tracking for quality control, presenting a huge risk to consumers with no transparency to growing or manufacturing processes of what they are ingesting, said Ed Schmults, CEO of Urbn Leaf.
Salk Scientists receive the 2021 Aspire
award to study pancreatic cancer
Professor Ronald Evans and Assistant Professor Dannielle Engle have been granted a 2021 ASPIRE (Accelerating Scientific Platforms and Innovative Research) award to study the cellular and molecular drivers of pancreatic cancer, one of the deadliest cancers with few effective treatment options.
The $250,000 award, supported by the Mark Foundation for Cancer Research, enables innovative approaches to solving impactful problems in cancer research. The 23 scientists chosen to lead 2021 ASPIRE projects represent disciplines across the spectrum of cancer research at top academic institutions worldwide.
“With the support of the ASPIRE award, Ron and Dannie will take a novel approach to uncover what is driving pancreatic cancer,” says Salk President Rusty Gage. “Their work will hopefully fuel new avenues of pancreatic cancer research and lead to new, more-effective treatment options for those experiencing the disease.”
Snapdragon Stadium to bolster women’s
sports, athletic investments
Another team has gameplay plans at Snapdragon Stadium when the venue opens in September. Recently announced, San Diego Wave Futbol Club will call the SDSU Mission Valley stadium its permanent home.
The announcement with Wave FC means that SDSU will “bring the best women’s soccer in the world to our brand new, state-of-the-art stadium,” said SDSU Athletic Director JD Wicker.
The Wave FC news follows earlier announcements that multiple SDSU teams will practice and compete at Snapdragon Stadium: women’s lacrosse, women’s soccer, men’s soccer and football teams.
“Our mission from day one was to bring phenomenal new professional partners to San Diego to play in a stadium designed for the entire San Diego community,” Wicker said. “This is the signature athletics, entertainment and community venue for our region, and many more opportunities are coming to SDSU’s women and men student-athletes through the ongoing development of SDSU Mission Valley.”
Seltzer Caplan McMahon Vitek attorney awarded
Distinguished Public Service Award
Seltzer Caplan McMahon Vitek attorney Robert S. Brewer Jr. was honored by the U.S. Coast Guard with a Distinguished Public Service Award. U.S. Coast Guard Commandant Admiral Karl Schultz awarded Brewer with this recognition for his breakthrough work and leadership as the United States Attorney for the Southern District of California from 2019 to 2021.
During his term as U.S. Attorney, Brewer effectively strengthened the Southern District of California’s comprehensive maritime counter-narcotics program to significantly disrupt the flow of narcotics and human smuggling in both the California coastal region and the Eastern Pacific.
Cue Health partnership with Air Canada
gives flyers access to COVID-19 self-test
Cue Health, a San Diego health care technology company, said its first airline partnership with Air Canada to provide U.S.-based passengers with access to Cue’s molecular COVID-19 test is the most accurate self-test on the market.
Air Canada’s U.S.-based customers can now meet Canada’s specific travel testing requirements using Cue’s COVID-19 tests, which can be purchased three, six, or 10 at a time along with the reusable and portable Cue Cartridge Reader, which processes test results in about 20 minutes.
As a Nucleic Acid Amplification Test (NAAT), Cue’s molecular COVID-19 test meets Canada’s testing entry requirements, as Canada is one of the growing number of countries that accept molecular NAAT test results for entry. These travel entry requirements are more stringent than those countries that accept rapid antigen test results.
Sempra announces agreement to sell 10 percent
interest in Sempra Infrastructure Partners
Sempra has entered into a definitive agreement to sell a non-controlling 10 percent interest in Sempra Infrastructure Partners to a subsidiary of the Abu Dhabi Investment Authority (ADIA) for $1.785 billion in cash, subject to customary closing adjustments.
This transaction implies an enterprise value for Sempra Infrastructure of $26.5 billion, including asset-related debt of approximately $8.6 billion.
In October, Sempra completed the sale of a 20 percent non-controlling interest in Sempra Infrastructure to a wholly owned affiliate of KKR. Upon closing of the transaction just announced, Sempra will own a 70 percent controlling stake in Sempra Infrastructure.
Sempra Infrastructure was created earlier this year through the consolidation of two world-class infrastructure companies – Sempra LNG and Infraestructura Energética Nova, S.A.B de C.V.
MG Properties Group acquires
450-unit Andorra Apartments
MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, announced its acquisition of Andorra Apartments in Camarillo, Calif. The 450-unit community brings 2021 to a close with over $1.9 billion in total acquisitions.
The buyer was represented by Joseph Smolen, Mark Peterson and Geoff Boler of Eastdil Secured. The acquisition of the community was financed with a loan from Nuveen Real Estate and arranged by Lee Redmond and Greg Stampley of Eastdil Secured.
David A. Brenner to step down next June as
vice chancellor for health sciences at UC San Diego
Following more than 15 years of service as vice chancellor for health sciences at UC San Diego, David A. Brenner, M.D., will step down on June 30, 2022 to focus on teaching and research as a member of the School of Medicine’s faculty. Brenner is a Distinguished Professor of Medicine at UC San Diego School of Medicine.
Brenner served as vice chancellor for health sciences since 2007 and served as dean of the School of Medicine from 2007 to 2018, holding both positions longer than any predecessor. He is the university’s seventh vice chancellor for health sciences and was the School of Medicine’s 13th dean.
Growth of UC San Diego Health during Brenner’s tenure (he helped recruit five CEOs) has been dramatic. There are now more than 10,000 employees, 808 licensed beds (up from less than 400 in 2007), nearly 1 million outpatient visits and surgeries, more than 31,000 annual hospital admissions and an operating budget of more than $2 billion.
