Daily Business Report: Friday, Dec. 23, 2022
Here’s what you need to know about
California’s new pay transparency law
In 2023, companies with at least 15 workers will need to add pay ranges to job postings
By Grace Gedye | CalMatters
In less than two weeks, job seekers in California will finally know how much a job pays when they apply for it — if companies don’t figure out a way around a new law.
Starting on Jan. 1, employers with at least 15 workers will have to include pay ranges in job postings. Employees will also be able to ask for the pay range for their own position, and larger companies will have to provide more detailed pay data to California’s Civil Rights Department than previously required.
California isn’t the first state to force businesses to put their cards on the table. Colorado took that step in 2019, and a similar requirement went into effect in New York City in November. Washington state has its own version that will also kick in on Jan. 1, and a similar statewide bill in New York awaits the governor’s decision.
The goal of the California law is to reduce gender and racial pay gaps. But New York City’s measure had a bumpy start, with some employers posting unhelpfully wide ranges the first day the law was in place. When Colorado rolled out its law at the beginning of 2021, some companies posted remote jobs that they said could be done from anywhere in the U.S. — except Colorado — dodging the requirement. That wasn’t widespread; about 1% of remote job listings included a Colorado carveout, according to reporting in The Atlantic.
Illustration by Miguel Gutierrez Jr., CalMatters; iStock
$3.4 million in congressional funding coming
San Diego Community College District
Federal funding totaling $3.4 million that will benefit more than 100,000 students at San Diego’s four community colleges is included in the FY 2023 Omnibus Appropriations Bill. The bill, the result of negotiations by House and Senate leaders, is expected to get President Biden’s signature before the current Continuing Resolution expires at midnight on Friday, Dec. 23.
he funding comes from three grants that the San Diego Community College District requested:
• $1.2 million to better serve lesbian, gay, and transgender students
• $1 million for an initiative to expand service at the San Diego College of Continuing Education to youths who have recently aged out of the foster care system
• $1.2 million for new and expanded centers serving undocumented students.
State-of-the-art veterinary urgent-care clinic
completed at San Diego’s Rancho Penasquitos
JRM Construction Management announce the completion of Ethos Veterinary Health’s new state-of-the-art urgent care clinic in Rancho Panasquitos in San Diego. The new, 2,600-square-foot clinic has been renovated from a former office and dry cleaner and will allow Ethos to accept thousands of new patients a year, as well as incorporate new health practices and technologies into their practice.
The scope of work included a modern new reception area, multiple specialty exam rooms, procedure and treatment rooms, and a nourishment area. The facility is equipped with point-of-care ultrasound, an in-house lab, and digital radiography x-rays giving veterinarians and their technician’s access to emergency equipment at their own facilities. JRM also constructed back-of-house areas including a break room, private offices, and a workroom to best support the Ethos Veterinary staff.
“The Ethos Veterinary Urgent Care’s new start-of-the-art facilities will give them the ability to support a range of veterinary medicine and emergency services while simultaneously supporting their staff,” said Martin Gilbert, principal, director of operations at JRM Construction West.
TuSimple announces restructuring with
25 percent reduction in its workforce
TuSimple, a global autonomous driving technology company in San Diego, announced a restructuring plan designed to set the company on the course to long-term success as a leader in the autonomous trucking industry.
The announced restructuring plan involves a 25 percent reduction of TuSimple’s total workforce. 80 percent of the remaining staff are in research and development, and many of these are engineers critical to hardware and software resilience, reliability, safety, and information security.
TuSimple said it plans to actively work with key shipping partners to operationalize its autonomous technology, and in an effort to help ensure capital efficiency, the company also plans to scale back freight expansion, including unprofitable freight lanes and respective trucking operations. Trucking operations along those lanes utilize previous generation autonomous software that provides limited value to the company’s on-going technology development. The majority of the restructuring is in the company’s U.S. operations as the Company continues its plan to explore strategic alternatives for its Asia business, including a divestiture.
Buried treasure: California politicians stash
$35 million in leftover campaign cash
By Alexei Koseff and Ben Christopher | CalMatters
It has been nearly eight years since Bill Lockyer held elected office in California.
For more than four decades, he climbed the ranks of state politics — Assembly member, Senate leader, attorney general, treasurer — before ending a campaign for controller amid turmoil in his marriage and retiring at the start of 2015.
Nevertheless, Lockyer still has more than $1 million in a campaign account for the 2026 lieutenant governor race. Every month, he pays $2,500 to consultant Michelle Maravich, who said she helps maintain his donor list, manage meetings and appearances, and provide advice on occasional contributions to other candidates as the 81-year-old Democrat contemplates a comeback.
Lockyer’s seven-figure war chest is among the largest of nearly 100 accounts belonging to state political candidates with leftover campaign cash, according to a CalMatters analysis of California campaign finance records. Collectively, they hold about $35 million — funds that never got spent on the campaigns for which they were raised — ranging from $13.1 million that former Gov. Jerry Brown didn’t need to win re-election in 2014 to $9.62 in the account for a failed Assembly run that same year run by investment manager Thomas Krouse.
Consultant to study future
best use of Del Mar Fairgrounds
The future of the Del Mar Fairgrounds will start to take shape in 2023 with the state agency in charge of the land that spans the main campus and beyond leaning on a real estate consultant to figure out how best to use — and profit from — all 324 acres under its management.
The 22nd District Agricultural Association, which manages the fairgrounds on behalf of the state of California, announced in a published notice last week that it plans to hire real estate consultancy London Moeder Advisors to identify the best use of its facilities. The state agency’s nine-member board will consider approval of the contract, which contemplates a one-year term with two optional, one-year extensions, at its January meeting.
EJEA names Janet Vásquez as executive director
The board of directors of East County-based Excellence and Justice in Education Academies (EJEA) appointed Janet Vásquez as executive director of EJEA. Vásquez served as principal and math teacher at EJEA’s middle school for more than 12 years, collaborating with teachers, staff, and parents to support students’ academic achievement and social emotional well-being.
She has a track record of successfully implementing programs and initiatives focused on social justice, equity, and access to higher education for diverse student populations.
Vásquez holds a Master of Education degree from the University of California, Los Angeles and a Bachelor of Arts in International Studies and Sociology, with a minor in Law and Society, from the University of California, San Diego.
San Diego Regional Policy & Innovation Center
adds three new team members to its staff
The San Diego Regional Policy & Innovation Center announced the addition of three new team members —Audra Hermann-Hayes, Rachel Lozano and Clint Smith.
Serving as director of government grants, Audra Hermann-Hayes adds nearly 20 years of experience creating solutions for nonprofit organizational funding diversification, stability, program sustainability and expertise. previously served as CEO of her own company, Salang Grant Writing and Nonprofit Solutions, where she held an 80 percent grant procurement success rate while raising millions in funding for clients in 2021.
Rachel Lozano Castro is senior officer of programs and impact, focused on leading a pilot launchpad to identify, attract, and scale innovative technology to increase climate resilience, and support a robust, sustainable, and inclusive region. Prior to PIC, Lozano Castro served as director of the Brink Small Business Development Center at the University of San Diego.
Clint Smith joins PIC as a project engineer, bringing his expertise in civil construction with focuses on nuclear energy and infrastructure. In his role as resident engineer for the U.S. Department of Veteran Affairs, Smith was responsible for the project and design management of large-scale projects up to $35 million.
Jose Escobedo reappointed to State Board of Education
Jose Francisco Escobedo, 62, of Bonita, has been reappointed to the State Board of Education by Gov. Gavin Newsom, where he has served since 2021.
Escobedo has been executive director of the National Center for Urban School Transformation since 2021.
He was superintendent for the Chula Vista Elementary School District from 2010 to 2021 and assistant superintendent for the South Bay Union School District from 2006 to 2010.
Escobedo was vice president of achievement and operations at Edison Schools Inc. from 2003 to 2006.
He earned a Master of Arts degree in Educational Administration from San Diego State University and a Doctor of Education degree in Educational Leadership from the University of California, San Diego.
The position requires Senate confirmation and the compensation is $100 per diem. Escobedo is registered without party preference.
California Protons celebrate 5th anniversary
with treatment of its 4,000th patient
California Protons Cancer Therapy Center celebrated its 5th anniversary with the treatment of its 4,000th patient with proton therapy. Proton Therapy is a form of radiation treatment that is less invasive than traditional x-ray radiation. Protons stop at the tumor site and do not travel past it, resulting in less radiation dose to surrounding healthy tissues and organs, and a decrease in side effects and risks of secondary cancers. Primarily used for cancer treatment, in some cases proton therapy can also be used to treat non-cancerous tumors.
Sony Electronics creates real-time distribution technology
For the first time in the world, Sony Electronics Inc. has created real-time live distribution technology with full object-based spatial sound1. Additionally, Sony has expanded the range of support for its “360 Reality Audio,” a musical experience that allows users to immerse themselves in a three-dimensional sound field. While livestreaming is valued for its ease of use and lack of restrictions on location and movement, achieving a sense of realism has been a challenge. Sony has evolved its proprietary 360 Spatial Sound technology, enabling real-time distribution of three-dimensional sound and video with “360 Reality Audio,” so users can experience the reality of enjoying a live performance or concert at the same time without being there.
Strategic Storage Growth acquires
self storage property in Chula Vista
Strategic Storage Growth Trust III Inc., a private company that intends to qualify as a real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc., announced the acquisition of an approximately 1,000-unit self storage facility in Chula Vista. The Chula Vista location is the third acquisition for SSGT III since it launched in May 2022. Located at 970 Industrial Blvd., the facility consists of one three-story building and two single-story buildings with approximately 110,000 square feet of rentable space.
Dalrada selects new independent auditor
Dalrada Corporation, a problem-solving innovator that takes on complex, multi-disciplinary challenges in health care, clean energy, precision manufacturing, and technology, has named MGO (Macias Gini and O’Connell LLP), as its new independent auditor beginning the quarter ending Dec. 31, 2022.
CBRE real estate outlook: moderate
recession will slow leasing and investment
CBRE foresees a moderate recession in 2023 that will bring declines in real estate
investment and leasing activity, though inflation will recede by year end and well-capitalized investors still will be able to make deals, according to the company’s 2023 U.S. Real Estate Outlook. CBRE anticipates recession-related trends in 2023 such as declining home prices and retail sales as well as rising unemployment. Even so, the recession likely will be moderate, given that corporate balance sheets are relatively strong, household debt is relatively low and inflation is expected to ease. For commercial real estate, CBRE forecasts a slowdown in construction in most sectors in addition to declines in asset values, investment volume and leasing activity.
