Daily Business Report: Friday, Nov. 18, 2022
California increases efforts to combat organized
retail theft ahead of busy holiday shopping season
Gov. Gavin Newsom has increased efforts statewide to tackle organized retail theft ahead of the holiday shopping season. The California Highway Patrol Organized Retail Crime Task Force is increasing their presence at shopping centers throughout the state and working with local law enforcement agencies to make arrests and heighten visibility.
“Californians deserve to feel safe especially as they head to stores this holiday season,” said Newsom. “We’ve doubled down on our efforts to combat crime with millions of dollars to deter, arrest and successfully prosecute criminals involved in organized retail theft. This year, shopping centers across California will see saturated patrols as CHP regional teams work with local law enforcement agencies to help make arrests and recover stolen merchandise.”
Photo: CHP Organized Retail Crime Task Force investigators intercepted a shipment of stolen Lululemon products shipped from various places throughout the country. The 1,861 items were worth approximately $200,000. The merchandise was returned to Lululemon. (Courtesy Governor’s Office)
Budget whiplash: California faces $25 billion deficit
By Emily Hoeven | CalMatters
That’s the estimated deficit Gov. Gavin Newsom and state lawmakers will confront when crafting a budget for the upcoming fiscal year, the Legislature’s nonpartisan fiscal adviser announced Wednesday.
The projection marks a stunning reversal from back-to-back years of unprecedented prosperity: The budget for California’s current fiscal year clocked in at a whopping $308 billion, fueled by a record $97 billion surplus that was by itself enough to treat every state resident to a $7,500 vacation. The year before, Newsom and lawmakers approved what was at the time a record-busting $263 billion budget that included a $76 billion surplus.
Although the outlook is sobering — not since the Great Recession have California’s revenue estimates been so weak, according to the Legislative Analyst’s Office —
it could be worse, in ways both good and bad.
County Housing Market:
Home prices in flux in October, while sales fall greatly
While home prices in San Diego County are maintaining most of their value, the number of sales are falling significantly, according to the GreaterSan Diego Association of Realtors. Single-family number of homes sold dropped nearly 20 percent in October, compared to September, and are down 43 percent from a year ago. Condominiums and townhomes (attached properties) slowed by a similar rate month-over-month (22 percent) and are 44 percent lower than a year ago. So far this year, the number of resale homes sold have fallen 25 percent over 2021.
Median home sale prices continue to be in flux. October’s single-family median price settled on $884,000, down about 2.5 percent from last month, but still higher than a year ago by nearly 3 percent. Attached properties, on the other hand, saw an increase of 2.7 percent month-over month, or $616,000. Prices for attached properties are almost 10 percent higher than at this time in 2021.
“While the market continues to evolve over the next year, we expect that San Diego will remain one of the most expensive markets in the nation, as severely limited housing inventory will prevent large home price drops,” said SDAR President Chris Anderson.
Downtown San Diego demographics study survey
sdnews.com
The San Diego Downtown Partnership is seeking input on the residents, workers, and visitors of Downtown San Diego to help plan for the future of the city’s central hub. The partnership partnered with the San Diego Regional Economic Development Corporation and the Center for Research and Evaluation at UC San Diego to conduct the anonymous survey. Answers are confidential. Participants have until Dec. 2 to make their voice heard in the 15-minute survey.
The partnership wants to understand the attitudes of people who live, work, and play in Downtown San Diego and provide benchmark statistics on the urban core while also delivering insights into emerging trends to visualize how Downtown will continue to recover and grow into the future after COVID-19 first hit San Diego.
Here is the link to thesurvey: https://ucsdextension.co1.qualtrics.com/jfe/form/SV_0dmRwjbg93pr2DA
San Diego River Valley Conservancy
launches Coast to Crest fundraising campaign
The San Dieguito River Valley Conservancy (SDRVC) and the San Dieguito River Park Joint Powers Authority (JPA) announce its Get-to-71 Miles campaign, with the goal of raising $300,000 to reach its $2 million goal to help complete the two longest trail gaps of the Coast to Crest Trail. With a five-mile trail gap in East San Pasqual Valley and an eight-mile trail gap on the eastern end of Lake Sutherland, funds are needed to get these trail segments “shovel ready,” that is, planned, designed and ready for construction. The shovel-ready stage is essential to being competitive for key public grants and private funds needed for trail construction.
For more information, contact Cheryl Goddard, executive director, SDRVC (619-200-4805).
La Mesa’s Veranda La Mesa apartments sold
JLL Capital Markets announced that it closed the sale and acquisition financing of Veranda La Mesa, a 406-unit, garden-style apartment community in La Mesa. It declined to name the seller and buyer.
Eighth graders and mural artist complete
a legacy mural for St. Katherine Drexel Academy
ArtReach and the 8th grade class of St. Katharine Drexel Academy painted a new legacy mural for their school community and neighborhood. A crucial step in the ArtReach Mural Program is gathering words, ideas, themes, imagery, and actual drawings from the participating students and staff to help inspire the mural design imagery. Students drew various plants, trees, suns, and of course their school mascot of the powerful and resilient phoenix. Staff said they wanted a peaceful and welcoming mural — filled with plants growing and flowers blossoming —something to remind all students of their own continued expansion and inner strength. After looking through all of these ideas and input, Lead ArtReach Mural Artist Nina Lubarsky, created the final mural design.
A skilled and practicing printmaker, Nina Lubarsky, rendered this design in the style of a carved relief print echoing the ancient art of block printing. A powerful phoenix, symbolizing rebirth and transformation, is bursting with pride. Its wings stretched wide, it is set against a big sun — a perfect full circle which signifies family and unity. The rest of the mural is filled with plants- the resilient and healing aloe vera and California coastal oak tree. Poppies are blossoming and the native sage plant energetically grows towards the sun.
Not only did the 8th grade students help contribute with the mural design imagery, but they also physically painted the majority of the mural during a Student Paint Day led by ArtReach.
$20 million gift funds research to reverse glaucoma
Researchers at the University of California San Diego may soon be closer to finding ways to reverse the effects of glaucoma, thanks to $20 million in support from Hanna and Mark Gleiberman. The gift will establish the Hanna and Mark Gleiberman Center for Glaucoma Research at UC San Diego. The center will be housed within the Viterbi Family Vision Research Center at UC San Diego. The funds are designated to stimulate research on advanced glaucoma, with the ultimate goal of protecting and restoring the vision of those who suffer from the condition. Read more…
Northrop Grumman boosts successful Artemis I launch
CAPE CANAVERAL, Fla. – Nov. 16, 2022 – Two Northrop Grumman Corporation five-segment solid rocket boosters helped successfully launch the first flight of NASA’s Space Launch System (SLS) rocket from Pad 39B in Kennedy Space Center, Fla. as part of the Artemis I mission. This is the first in a series of Artemis missions focused on deep space exploration and establishing a sustainable human presence on and around the moon.
San Diego’s Drink Monday partners with Anthropologie
Drink Monday, the San Diego-based non-alcoholic beverage brand, announced an online partnership with the apparel and home goods retailer, Anthropologie. The company’s full award-winning range of products are now available for purchase (Monday Gin; Monday Whiskey; Monday Mezcal) via the retailer’s online platform. Founded in 2019 by entrepreneur and fitness enthusiast, Chris Boyd, Drink Monday is a pioneer in the non-alcoholic spirits category, created to serve people delicious drinks without the alcohol.
Juno Diagnostics announces launch of Juno Hazel
Juno Diagnostics announced the launch of Juno Hazel, a non-invasive prenatal screening (NIPS) solution enabled from finger-prick amounts of blood. The Juno Hazel test breaks through one of the most significant barriers to access for genetic testing by leveraging JunoDx’s proprietary Sample Collection Kit. This process improves early access to high-quality genetic testing without the high costs, long lead times, and phlebotomy requirements of traditional NIPS. For more information, visit www.junodx.com
3 Blind Mice acquires
Drapery Works of Orange County
3 Blind Mice Window Coverings, a San Diego company, has acquired Drapery Works, Orange County’s premier window treatment and custom upholstery company. An established brand since 1977, Drapery Works has provided tens of thousands of residential and commercial clients with valances, blinds, shades, shutters, and decorative home accessories. The acquisition follows 3 Blind Mice recently adding Kathy Pace as director of sales in August. The addition of Drapery Works supports the 3 Blind Mice strategy to strengthen its soft treatment offerings and expand its footprint.
Night of Christmas event set for Dec. 3
Awaken Church’s Night of Christmas event to celebrate the joy of the season — and give back to the community — will be Saturday, Dec. 3, at both 4 p.m. and 8 p.m. at The Rady Shell at Jacobs Park in the heart of Downtown San Diego. Tickets are available from $10-20, and Night of Christmas is donating all ticket proceeds to We See You San Diego and Solutions for Change, two local organizations supporting San Diego’s homeless population. For more information and to purchase tickets, visit www.nightofchristmas.com.
Cubic to demonstrate
advanced LVC training solutions
Cubic Mission and Performance Solutions (CMPS) will showcase its advanced LVC training solutions at the Interservice/Industry Training, Simulation and Education Conference (2022 event Nov. 28-Dec. 2 at the West Concourse of the Orange County Convention Center in Orlando, Fla. “CMPS provides a portfolio of advanced training capabilities that delivers a readiness advantage to ensure mission success for our U.S. and Allied Forces,” said Jonas Furukrona, VP and GM of Cubic’s LVC Training division.
Tandem Diabetes Care earns
Great Place to Work Certification
Tandem Diabetes Care Inc., a San Diego insulin delivery and diabetes technology company, has been granted a Great Place to Work Certification, a prestigious award based entirely on results from in-depth employee surveys around their experience working at the company. This year, 84 percent of Tandem employees said it’s a great place to work – 27 points higher than the average participating company in the United States.
San Diego Gymnastics opening
newest gym in Mission Valley
San Diego’s largest gymnastics school and camp program is opening its fifth location in January 2023 at Westfield Mission Valley West at 1144 Camino Del Rio North. Slated to open shortly after the new year, the 8,000 square feet Mission Valley San Diego Gymnastics
facility will feature a full slate of gymnastics equipment, training apparatus and a complete parkour set up, allowing greater diversity of class offerings in a variety of settings. Pre-registration is now open and Founders Club memberships feature lifetime reduced tuition, no annual or origination fees, sibling discounts, t-shirt and founder’s handprint on the gym wall.
