Daily Business Report: June 21, 2023
Visual Capitalist
Ranked: The World’s Most Valuable Bank Brands
By Marcus Lu
Since 2019, Chinese banks have held the top four spots on Brand Finance’s Banking 500 —
an annual ranking of the most valuable bank brands.
Brand value in this context is a measure of the “value of the trade mark and associated marketing IP within the branded business”. In other words, it measures the value of intangible marketing assets, and not the overall worth of the business itself.
In this infographic, we’ve visualized the Banking 500’s top 10 brands since 2019 to show you how the ranking has evolved (or stayed the same).
The 10 most valuable bank brands of 2023 are evenly split between China and the United States. In terms of combined brand value, China leads with $262 billion to America’s $165 billion.
Chinese banks have a massive market to serve, which helps to lift the perceived value of their brands. For example, Industrial and Commercial Bank of China (ICBC) serves over 500 million individuals as well as several million business clients.
The biggest survey of homeless Californians
in decades show why so many are on the street
By Marisa Kendall | CalMatters
Losing income is the No. 1 reason Californians end up homeless – and the vast majority of them say a subsidy of as little as $300 a month could have kept them off the streets.
That’s according to a new study out of UC San Francisco that provides the most comprehensive look yet at California’s homeless crisis.
In the six months prior to becoming homeless, the Californians surveyed were making a median income of just $960 a month.The median rent for a two-bedroom apartment in California is nearly three times that, according to Zillow. And though survey participants listed a myriad of reasons why they lost their homes, more people cited a loss of, or reduction in, income than anything else.
The study’s authors say the findings highlight the idea that money, more than addiction, mental health, poor decisions or other factors, is the main cause of – and potential solution to – homelessness.
Serious business: Expanding the talent
pool for a more inclusive economy
By Christine Clark and Inga Kiderra | UC San Diego
UC San Diego first-year student Grace Njuguna is headed to the University of Chicago for a summer internship where she will have an immersive educational experience in the field of economics, learning quantitative skills and coding. She will also get to travel to Washington DC to explore national economic policymaking at the U.S. Capitol, the Federal Reserve Bank, the International Monetary Fund headquarters and more. As a business economics major, Njuguna already has a lot of hands-on experience exploring her major. She has spent her first year as an undergraduate research assistant in Emanuel Vespa’s lab in the Department of Economics at the School of Social Sciences, where her work sought to understand economic decision making.
These opportunities and others were made possible by the Business and Economics Mentoring Program, an initiative from the Department of Economics and the Rady School of Management.
Coaster train fleet downsizing after
transportation funding fizzles
North County Transit District is selling five of its Coaster passenger cars and two newly acquired locomotives after a proposed service expansion stalled.
NCTD agreed to cap its commuter train’s expansion recently after the San Diego Association of Governments identified a funding shortfall in the TransNet sales tax revenue earmarked for public transit, said Devin Rouse, a consultant for the transit district working in Washington, D.C.
Four recently delivered Siemens Charger locomotives are undergoing testing and certification in preparation for being added to the NCTD fleet, and 11 new two-level passenger cars will be delivered by the end of this year. In all, the district soon will have a total of 11 locomotives and 39 cars.
Dunn DeSantis Walt & Kendrick law firm adds
attorneys Cameron Neubauer and Anayeli Zavala
Attorneys Cameron Neubauer and Anayeli Zavala have joined the law firm of Dunn DeSantis Walt & Kendrick in San Diego.
Neubauer’s practice is focused upon representing businesses and business owners. He is regularly involved in transactional matters, including contract negotiations and contract formation, as well as business and employment litigation. Neubauer earned his law degree from the University of San Diego in 2022 and was a member of the Phi Delta Phi International Legal Honor Society.
Zavala’s practice is focused on the representation of businesses that are involved in litigation and in counseling business owners regarding employment law matters.
She earned her law degree from the University of San Diego School of Law in 2022. During that time, Zavala worked at a real estate and civil litigation law firm for two years.
Theater Review — ‘Eleanor’
By Martin Kruming
Three things you notice while waiting for “Eleanor” to begin at the North Coast Repertory Theatre: Sounds of chirping birds, an empty bottle of Gatorade and a bag of Sour Patch Kids.
But as the West Coast premiere about this remarkable woman opens, you quickly realize that you’re in Rock Creek Cemetery in Washington, D.C., where actress Kandis Chappell offers a fascinating glimpse of former First Lady Eleanor Roosevelt and her extraordinary grace, fortitude, wit and strength.
The play is a 85-minute or so, non-stop history lesson that traces the life of Eleanor as she refused to be broken following the discovery that her husband, four-time President Franklin Delano Roosevelt, and his social secretary, Lucy Mercer, had an extended affair. Eleanor and FDR never slept in the same bed again.
From start to finish, Chappell was magnificent. She engaged the audience – many of whom might have lived during the Roosevelt years – with interesting facts, humorous one liners and even references to today’s contentious politics.
“A teacher changed my life,” said Eleanor, referring to the director of the private finishing school in London which she attended as a teenager. It was there that the future First Lady learned to argue, stand up for herself and take her place in the world.
Eleanor suffered grief and disappointment, but she “decided [she] would be of use” after learning that her husband was stricken with polio. As FDR’s political adviser, Louis Howe, said, “He’s got the head for this game; you’ve got the heart.”
“I thought that was the perfect Eleanor,” said Betty Mason, who remembered listening to FDR’s “Fireside Chats” and the time he visited San Diego when Pacific Coast Highway was called Atlantic Street. “I think she was the smartest First Lady we had. She was interested in fairness and the vote. She was a remarkable woman.”
Eleanor by Mark St. Germain is directed by David Ellenstein and is playing through July 9 at the North Coast Repertory Theatre in Solana Beach.
Martin Kruming is a retired attorney and journalist who teaches journalism at San Diego State University and chairs the Global Neighborhood Project.
Edwin Ojeda joins Reachify
as chief revenue officer
SAN DIEGO — Reachify, North America’s premier enabler of restaurant engagement automation, announced that Edwin Ojeda has been hired as chief revenue officer.
In his new capacity, he will be responsible for all go-to-market functions while the company disrupts the restaurant experience through intelligent automation.
With more than 25 years of experience, Ojeda has an impressive combination of sales acceleration, enterprise automation and leadership.
Prior to joining Reachify, Ojeda held various sales and leadership roles focused on the enterprise delivery of automation powered by machine learning and artificial intelligence at industry leading firms.
Elizabeth N. Thompson joins Allen Matkins firm
SAN DIEGO — Allen Matkins, a real estate and business law firm, announced the addition of partner Elizabeth N. Thompson to its San Diego office.
She joins as a member of the firm’s Real Estate Department and Joint Venture & Equity Investments practice group.
She advises a broad range of clients on the negotiation and structuring of complex joint ventures in connection with the acquisition, disposition, and development of all asset types.
Thompson received her Juris Doctor degree from the University of San Diego School of Law, magna cum laude, where she was elected to the Order of the Coif, and served as an associate editor of San Diego Law Review.
American Diabetes Association
to start its 83rd Scientific Sessions
SAN DIEGO — On June 23, the American Diabetes Association (ADA) will kick off the 83rd Scientific Sessions at the San Diego Convention Center. This is the world’s largest diabetes meeting, convening more than 12,000 leading physicians, scientists, and health care professionals from around the globe. The hybrid meeting will feature the latest scientific findings in diabetes, including more than 190 sessions and 2,000 original research presentations starting June 23 through June 26.
Avidity Biosciences issues support
of Muscular Dystrophy Day
SAN DIEGO — Avidity Biosciences Inc., a biopharmaceutical company, joins with the global community of patients, caregivers, and health care providers in support of World Facioscapulohumeral Muscular Dystrophy (FSHD) Day. FSHD is a serious, rare, hereditary muscle-weakening condition marked by life-long, progressive loss of muscle function that causes significant pain, fatigue, and disability. Currently, there are no approved therapies for the treatment of FSHD.
Jumpcode Genomics announces
results of genotyping study
SAN DIEGO — Jumpcode Genomics, a genome technology platform company, announced the results of a study demonstrating the ability to improve genotyping through CRISPR-Cas9-based in vitro repeat depletion, a new method for high-throughput genotyping where repetitive fragments are removed prior to genotyping with low-pass sequencing. The study, published in the journal Genome Research, shows how Jumpcode Genomics’ depletion technology can be used to remove repetitive elements from genome sequencing libraries.
SOCi secures No. 1 spot in 13
G2 Summer 2023 reports
SAN DIEGO — SOCi Inc. has earned the number one placement in 13 Summer 2023 Reports by G2, the world’s largest and most trusted software marketplace, and upheld its place as a Leader in 10 of the company’s marketing category Grid Reports. From implementation to usability to tangible results, this recognition from G2 and SOCi customers proves that the SOCi platform offers marketers a streamlined tool for maintaining local visibility on countless digital channels across hundreds or thousands of locations.
Aardvark Therapeutics receives Orphan
Drug Designation from the FDA
SAN DIEGO — Aardvark Therapeutics Inc., a clinical stage biopharmaceutical company, has received an Orphan Drug Designation from the FDA for its lead program, ARD-101, an oral small molecule bitter taste receptor (TAS2R) agonist. The early clinical study results suggest a promising future for a new class of pharmaceuticals that could benefit people with insatiable hunger (hyperphagia) and aggressive food-seeking behaviors, as well as for obesity and metabolic conditions.
Dentist-invented SuperMouth
‘Summer of Smiles’ program
SAN DIEGO —SuperMouth, the first dentist-invented mouthcare system for kids, was launched Tuesday at SuperMouth.com, kicking-off its Summer of Smiles program. Designed to focus on whole mouth health, SuperMouth is a revolutionary approach to oral care that includes the safest and most effective ingredients, parent-targeted educational resources, and branded entertainment content for kids. Dr. Kami Hoss is a dentist and founder of SuperMouth.
Ethos Asset Management announces
deal with Sector Resources Ltd.
SAN DIEGO — Ethos Asset Management Inc USA announced a new long-term financing partnership with Sector Resources Ltd., founded in 1995 to focus on the development and operation of mining-related projects. Sector’s mission is to concentrate on acquiring and developing gold silver copper and industrial minerals interests in Canada and Colombia. Ethos has committed to providing significant capital infusion that will continue for several years.
UC San Diego partners with Xendee
for testing of microgrid controller
SAN DIEGO — UC San Diego’s Center for Energy Research has entered into an agreement with Xendee Corporation to conduct testing and evaluation of ots enhanced Xendee Operate control platform at one of the university’s test facilities. The project, funded by a CalTestBed Voucher, aims to integrate, validate, and evaluate new AI-enabled forecasting and control algorithms, as well as communication networks, of Xendee Operate.
Orion Advisor Solutions schedules
Orient Ascent 2024 for San Diego
SAN DIEGO — Orion Advisor Solutions of Omaha, Neb., a provider of wealthtech solutions for fiduciary advisers, unveiled the schedule for Orion Ascent 2024, the financial industry’s signature wealthtech event, which will be held March 12-15, 2024, at the Marriott Marquis San Diego Marina in San Diego. Orion serves 2,300 advisory firms and more than 52,000 active advisory representatives.
