Daily Business Report: October 13, 2023
Governor vetoes bill that would give
severance pay to laid off grocery workers
By Alejandra Reyes-Velarde | CalMatters
Gov. Gavin Newsom vetoed a bill that would have given grocery store workers who are laid off as a result of a merger or acquisition a week of severance pay for every year of their service. The veto, announced Sunday night, comes after the governor signed two other grocery worker protection bills . Advocates have been pushing for the measures since last fall, when Kroger and Albertsons announced plans for a massive merger. The $24.6 billion deal involving two of the largest grocery chains in the United States faces antitrust scrutiny but, if approved, it could happen in early 2024.
Newsom said he vetoed the bill — Senate Bill 725 — because other laws already protect these workers.
An employee stocks refrigerated items at a Grocery Outlet store in Pleasanton on Sept. 15, 2022. (Photo by Terry Chea, AP Photo)
California politicians will keep
drawing their own election districts
CalMatters
California’s push to have independent panels — not politicians — draw election districts has floundered into a more piecemeal approach. Gov. Gavin Newsom vetoed the most ambitious bill passed by state lawmakers, Assembly Bill 1248, which called for independent redistricting commissions in every city and county across the state with more than 300,000 residents, and every school or community college district with more than 500,000.
He also blocked Senate Bill 52, requiring independent panels in large charter cities, which would have applied to the scandal-plagued Los Angeles City Council. It appoints some members of the existing redistricting commission, and last year, a leaked recording revealed city councilmembers strategizing, in a conversation packed with racist comments, about how to get lines drawn in their favor.
Airport Authority completes bond sale
to help finance new Terminal 1 project
The San Diego County Regional Airport Authority has completed a major bond financing totaling $1.062 billion. The combination of the bond sales in 2021 and 2023 have provided $2.35 billion towards the projected $3.4 billion cost of the Terminal 1 project, whose first phase is set to open in late summer 2025.
The 2023 bond sale was a combination of $74.675 million in Senior Series A (Non-AMT) bonds, and $987.305 million in Series B (AMT) bonds with a true interest cost of 5.18 percent. The proceeds will provide funding for terminal and roadway construction, as well as airside projects as part of the New T1 program.
Landmark conservation pact marks
20 years of water security for San Diego
Twenty years ago this week, water officials from across the Southwest signed the largest water conservation-and-transfer agreement in U.S. history, providing decades of water security for San Diego County and benefits for numerous partners across the Southwest. In total, that pact supplies more than half of the water that sustains San Diego County’s 3.3 million residents and $268 billion economy.
The 2003 Quantification Settlement Agreement, better known as the QSA, provides more than 30 million acre-feet of high-priority conserved water to the San Diego region over multiple decades. It helped stabilize demands on the Colorado River and reduced California’s overdependence on surplus supplies.
Judge rejects lawsuit to overturn city’s
$3 billion franchise agreement with SDG&E
By Elizabeth Ireland | Times of San Diego
City Attorney Mara Elliott announced Wednesday that a lawsuit threatening to overturn the city’s estimated $3 billion franchise agreement with San Diego Gas & Electric has failed following a decision by Superior Court Judge Katherine Bacal.
The decision in the lawsuit filed by filed by controversial former City Attorney Michael Aguirre and Maria Severson found the city followed appropriate competitive bidding processes and will not be required to re-bid the agreement.
Elliott said the judgment vindicates the city’s position that the agreement with SDG&E was lawfully negotiated and confirms the franchise fees are not taxes.
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Former home of Dragon Style Buffet sold for $3.9 million
Will be replaced by new restaurant called ‘Sapphire Indian’
A free-standing building that formerly housed the Dragon Style Buffet in the Rancho Bernardo Town Center has been sold for $3.9 million, and will be converted to a new restaurant called Sapphire Indian. The name of the private buyer was not disclosed, but was described as “a very experienced operator of restaurants throughout San Diego,” by broker Reg Kobzi of CBRE. The seller was the Kim Family Trust.
The CBRE team of Kobzi, Michael Peterson and Joel Wilson represented the seller.
This is the fourth restaurant property the CBRE team has sold within the last three months. In July, the trio sold three Carlsbad restaurants: King’s Fish House, P.F. Chang’s, and BJ’s Restaurant.
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Mascot Signs & Branding: Elevating
school spirit through exceptional signage
In the world of branding and signage, one company is stepping into the limelight with a mission to ignite school spirit and pride like never before. Mascot Signs & Branding, the latest offshoot of V Group, is set to revolutionize the signage and branding industry for K-12 schools. With a wealth of experience garnered from serving major league sports teams and prestigious universities, Mascot Signs & Branding is poised to create a lasting impact on educational institutions across the nation.
Mascot Signs & Branding understands that a schools brand identity is more than just a logo on a sign. It’s about fostering a sense of belonging, instilling pride, and creating a positive atmosphere for students, faculty, and staff.
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The driving forces behind Mascot Signs & Branding are industry veterans Ron Morabito. founder and CEO, and Jack Leary. Morabito has extensive experience in overseeing large-scale sports and university signage and branding projects at V Group. Leary has a long-standing career dedicated to signage and branding solutions for K-12 schools.
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Shadowbox appoints Evan Steele to its board of directors
Shadowbox, a leading innovator in healthcare automation solutions, is pleased to announce the appointment of Evan Steele, founder and CEO of rater8, as a new member of its board of directors. Steele is a seasoned entrepreneur and technology leader with a proven track record of success in the health care technology sector. He spearheaded the development and growth of multiple start-ups, scaling them from concept to successful exit.
SOCi Inc. partners with On the Border Mexican Grill & Cantina
SOCi Inc., the leading CoMarketing Cloud Platform for multi-location enterprises, announced it is the new Platform of Record for On the Border Mexican Grill & Cantina, the world’s largest Mexican casual dining brand. By leveraging SOCi’s all-in-one platform, On The Border is expanding its local marketing efforts, ultimately creating a better online experience for its guests and increasing its digital visibility.
Blanchard wins multiple MarCom Awards
Blanchard, a global pioneer in leadership development, consulting, and coaching for more than 40 years, won seven MarCom Awards in the 2023 international creative competition for marketing and communication professionals. MarCom is one of the oldest, largest, and most respected creative competitions in the world and recognizes outstanding achievement by creative professionals involved in the concept, direction, design, and production of marketing and communication materials and programs.
Strategic Vision wraps up 10th annual Research Convention
San Diego-based Strategic Vision wrapped up its tenth annual Research Convention — ReCon X — in Anaheim this past week at the Disneyland Grand Californian Hotel & Spa, culminating with a tour of mobility and innovation led by former Disney Imagineer Fireball Tim Lawrence. For the past 10 years, Strategic Vision has hosted its annual ReCon event to gather key automotive stakeholders for insightful presentations about the state of the automotive industry.
Del Mar Country Club Golf Tournament
raised more than $1.4 million
Last weekend’s Del Mar Country Club Golf Tournament and Dinner Gala raised more than $1.4 million for the (SOF)Special Operations Forces Support Foundation. The event featured guests Vice Adm. Collin Green, Chief Warrant Officer Nick Lavery and world champion boxer Canelo Alvarez. The Del Mar Country Club Golf Tournament and Dinner-Gala was co-hosted by Plewes and Madeleine Pickens, owners of the Del Mar Country Club.
San Diego Zoo Wildlife Alliance partners
with the Special Survival Commission
San Diego Zoo Wildlife Alliance has been recognized for its expertise in wildlife biobanking, and has partnered with the Species Survival Commission (SSC) of the world’s largest conservation organization—the International Union for Conservation of Nature (IUCN)—to form the new Center for Species Survival: Biodiversity Banking. The new center is the first ever to have a strategy focus rather than a taxonomic one.
Revelation Biosciences reports success of Gemini formulation
Revelation Biosciences Inc. announced that data from recent preclinical studies of the company’s Gemini formulation demonstrated its therapeutic potential as a preventative therapy across multiple indications including infection and acute kidney injury. Additional nonclinical biomarker analyses are ongoing in preparation for a planned Phase 1 study to be initiated later this year. Revelation intends to publish the full results of these studies.
CentralSquare Technologies and Datamark in partnership
CentralSquare Technologies, an industry leader in public sector technology, announced a partnership with Datamark, the public safety geographic information systems (GIS) team of Michael Baker International and the go-to authority on GIS data for public safety. CentralSquare’s partnership with Datamark will help public safety agencies fully realize the potential of their GIS mapping data to better prepare, plan and respond to emergency incidents by using the most accurate location-based information available.
Infiniti to debut Vision Qe concept
Japan-based Infiniti Motor Company, which has a design studio in San Diego, announced the global debut of Vision Qe, a sleek concept that previews its first all-electric model. The Infiniti brand of premium automobiles are assembled in manufacturing facilities in Japan, North America and China. Other design studios other than the one in San Diego, are located in Atsugi-Shi, near Yokohama, London, and Beijing.
Clearspeed announces multiple awards
Clearspeed, a leading provider of voice analytics technology for risk assessment in the insurance, banking, government, and security sectors, announce several new industry award wins that reflect market adoption and overall momentum in 2023. Last week, Clearspeed was named an honoree of the PropertyCasualty360 Insurance Luminaries Awards in the Claims Innovation and Technology Innovation category and won Combatting Fraud — Technology Innovation of the Year at the InsurancePOST Claims and Fraud Awards.
Manscaped partners with German football club
Manscaped, the global men’s grooming company and lifestyle consumer brand, announced its partnership with German football club Rot-Weiss Essen, a team competing in the 3. Liga and claiming the second largest audience in the league. With well over a hundred years of history, the red and white will now have the razor-sharp backing of the black and gold as they vie for a spot in the Bundesliga 2 division.
Technosylva acquires Atmospheric Data Solutions
Technosylva, a leading provider of wildfire mitigation technology solutions, announced the acquisition of Atmospheric Data Solutions (ADS), a provider of advanced atmospheric data and analytics solutions. The acquisition comes as Technosylva launches a wider “wildfire public safety initiative” to help prevent the destructive and increasingly common occurrence of wildfires in multiple geographies including the United States. Founded in 1997, Technosylva has offices in La Jolla, CA, and León, Spain.
CentralSquare Technologies partners with RapidSOS
CentralSquare Technologies, an industry leader in public sector technology, announced a partnership with RapidSOS, the world’s first intelligent safety platform. The partnership marks a major leap forward for emergency response to critical incidents at schools and universities, most notably involving active school shooters, by addressing the critical need for seamless communication, collaboration, and instantaneous sharing of call and unit information across campuses. The partners will share details at this week’s IACP 2023 conference in San Diego.
