Daily Business Report: Friday, April 28, 2023
Elephant Ecosystem in Decline
By Mario Aguilera | UC San Diego
More than 3 million square kilometers of the Asian elephant’s historic habitat range has been lost in just three centuries, a new report from an international scientific team led by a University of California San Diego researcher reveals. This dramatic decline may underlie present-day conflicts between elephants and people, the authors argue.
Developing new insights from a unique data set that models land-use change over 13 centuries, a research team led by new UC San Diego faculty member Shermin de Silva found that habitats suitable for Asian elephants have been cut by nearly two-thirds within the past 300 years.
The largest living land animal in Asia, endangered Asian elephants inhabited grasslands and rainforest ecosystems that once spanned the breadth of the continent. Analyzing land-use data from the years 850 to 2015, the researchers describe in the journal Scientific Reports a troubling situation in which they estimate that more than 64 percent of historic suitable elephant habitat across Asia has been lost. While elephant habitats remained relatively stable prior to the 1700s, colonial-era land-use practices in Asia, including timber extraction, farming and agriculture, cut the average habitat patch size more than 80 percent, from 99,000 to 16,000 square kilometers.
Photo: Top, UC San Diego faculty member Shermin de Silva.
Newsom slaps down Senate Democrats’ tax hike
By Lynn La | CalMatters
Tax increases are sensitive business in politics. So it didn’t take long Wednesday — all of two hours — for Gov. Gavin Newsom to swiftly and decisively reject the latest idea from Democratic lawmakers to balance California’s budget by pumping businesses for more cash.
Ahead of Newsom’s revised budget proposal that he will unveil in mid-May, Democrats in the state Senate put forward their own plan Wednesday setting out their priorities for the upcoming negotiations. It included a bold provision that immediately ruffled some feathers: Suspending a major business tax credit and hiking the tax rate on the highest corporate earners to raise billions of dollars.
Under the proposal, California would pause the net operating loss deduction, which allows businesses to carry forward their losses to future tax years, whenever there is a “budget emergency,” raising about $5 billion annually — though only temporarily, because companies could claim those credits again once the emergency ended.
The Senate Democrats’ plan would also increase the tax rate by more than 2 percentage points on taxable corporate income above $1.5 million, bringinging in an additional $6 billion or more per year from the 2,500 largest companies operating in California. This would be partially offset by lowering the tax rates by more than 2 percentage points on those first $1.5 million in profits, benefitting smaller businesses.
Construction begins on 70-unit affordable
housing development in Carlsbad
The County of San Diego joined multiple partners in breaking ground on a 70-unit affordable housing development for families in Carlsbad.
The $36 million Aviara Development will provide housing for low-income families,
with 1-3 bedroom floorplans. The County Housing and Community Development Services Department invested $1.3 million through its HOME Investment Partnerships Program which is designed to increase affordable housing for low-income households.
Aviara is a development of Bridge Housing. Information on how to sign up for updates on the development, including when a waiting list will be established, is available on the nonprofit builder’s website.
BAE Systems gets $537 million U.S. Navy contract
BAE Systems was awarded a contract by U.S. Naval Information Warfare Systems Command, San Diego, to engineer command, control, communications, computers, and intelligence services on surface ships. The total value of the eight-year contract is $537 million. BAE Systems is one of three companies that will compete for work on the program. C4I systems are critical to the operation of surface ships, providing the ability to communicate, control, and coordinate operations across the fleet.
Under the new contract, BAE Systems will provide C4I services and data deliverables throughout the five phases of shipboard integration. The company will perform work in Alabama, California, Louisiana, Maine, Mississippi, South Carolina, Washington, and Wisconsin.
NuVasive shareholders approve
merger with Globus Medical
SAN DIEGO — NuVasive Inc., a leader in spine technology innovation, announced that its shareholders voted to approve the adoption of the company’s merger agreement with Globus Medical. Under terms of the merger agreement, NuVasive shareholders will receive 0.75 of a share of Globus Medical Class A common stock for each share of NuVasive common stock owned at the closing of the transaction. Globus Medical was to hold a separate special meeting of shareholders Thursday to vote on the issuance of Globus Medical shares to NuVasive shareholders.
Feeding San Diego rescues more than
3 million pounds of food from local stores
SAN DIEGO — This Earth Month, and during Starbucks Global Month of Good, Feeding San Diego is sharing the impact of its local partnership with Starbucks stores as part of the Starbucks FoodShare program, a national partnership between Starbucks and Feeding America to make sure food doesn’t go to waste. Since 2016, 3,098,942 pounds of food have been rescued from local Starbucks stores, including popular items from the chain like sandwiches, wraps, protein boxes, and pastries.
UC San Diego’s graduate programs ranked among
Best in Nation by U.S. News & World Report
SAN DIEGO — Graduate programs and professional schools at the University of California San Diego have once again been recognized for their excellence by U.S. News & World Report. The 2023-2024 Best Graduate Schools rankings named nine of the campus’s graduate programs among the top 10 in the nation. The overall ranking for the university’s chemistry program rose one spot to 20th in the nation, with biochemistry jumping eight spots to eighth in the nation. The following specialties also ranked highly: inorganic chemistry (14), theoretical chemistry (15), and physical chemistry (17).
NextNav vertical location technology now
available on Kyocera’s DuraXV Extreme+
SAN DIEGO —Kyocera International Inc., a leader in rugged mobile solutions, announced the integration of NexNav Pinnacle vertical location technology into Kyocera’s DuraXV Extreme+ feature phone. Simple and easy to use, DuraXV Extreme+ is designed for those working in harsh environments, such as industrial or construction sites, and is now available in Verizon stores and via Verizon Frontline for public safety and first responders nationwide.
Entry deadline is April 30 for USTA National
Women’s Senior Hard Court Championships
SAN DIEGO — The deadline to enter the upcoming United States Tennis Association National Women’s Senior Hard Court Championships is Sunday, April 30. The national tennis tournament, which will feature top players from across the country in the 50, 60, 70, 80, and 90 and over age divisions, is scheduled to be played Monday, May 15 through Sunday, May 21 at the La Jolla Beach & Tennis Club, 2000 Spindrift Drive. Events will include singles and doubles. For tournament entry information, click here
Golf professional Tina Mickelson joins
Rebru Spirits’ Longball brand as partner
SAN DIEGO — San Diego golf professional and PGA member Tina Mickelson has joined ReBru Spirits’ Longball brand as a partner and adviser. Longball, a golf-themed hard lemon iced tea, was released earlier this year by the Barrio Logan-based distillery. ReBru founder Dennis O’Connor and Longball CEO Kerin Sovern made the announcement. Mickelson, whose brother Phil is a three-time Masters Tournament champion and World Golf Hall of Famer, will serve in an advisory role for the beverage in the golf space.
Ethos Asset Management Inc. inks
financial partnership with TruGolf
SAN DIEGO — Ethos Asset Management Inc. announced announced a new long-term financing partnership with TruGolf and has committed to providing significant capital infusion that will continue for several years. Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. Its mission is to help grow the game by making it more available, approachable and affordable through technology.
Zura Bio announces licensing
SAN DIEGO — Zura Bio Limited, a biotechnology company focused on developing novel medicines for immune and inflammatory disorders, announced the licensing from Eli Lilly and Company of tibulizumab, a potential first-in-class, anti-IL-17 and anti-BAFF dual antagonist. Following the closing, the compound will be known as ZB-106. ZB-106 currently has clinical data from two Phase 1b studies completed in Rheumatoid Arthritis and Sjogren’s Syndrome.
Three SDSU degree programs place in the
nation’s top 30 by U.S. News & World Report
SDSU’s rehabilitation counseling, educational leadership, and public health degree programs all place in the nation’s top 30 by U.S. News & World Report. Princeton Review ranks SDSU No. 13 among public universities in “Best Schools for Making an Impact.” The College of Education is ranked No. 49, its highest position ever and three slots higher than last year, in the publication’s 2023-2024 Best Graduate Schools , released April 25. Its educational administration program was No. 26, matching last year’s ranking.
Third Ramona ambulance and
crew busy helping residents
A new ambulance with its crew and services added by the San Diego County Fire Protection District and CAL FIRE is seeing a great deal of use. County Fire accepted the transfer of responsibility for fire protection and emergency medical services in Ramona last August. The change brought a third fire department paramedic ambulance and additional firefighter staffing enhancements to the Ramona service area.
David Crawford joins Procopio from Cooley
SAN DIEGO — Accomplished real estate and finance attorney David Crawford has joined Procopio as a partner from Cooley LLP. He’s represented many clients in the life sciences, tech and other industries on a wide array of complex real estate and strategic joint venture transactions in the U.S. and globally. His legal services are so broad he likes to say he assists “anything connected to dirt, bricks and sticks.” Crawford is based in Procopio’s Downtown San Diego office. Crawford was a member of Cooley’s West Coast Real Estate practice based in San Diego for eight years,
