Daily Business Report: Dec. 19, 2023
Visual Capitalist
How Big Tech Companies Make Their Billions
By Pallavio Rao
First there was oil, then tobacco, then pharma. The “Big” epithet has always denoted the unique scale and power of certain industries, and today’s Big Tech companies are the perfect example.
These six tech giants—Alphabet, Amazon, Apple, Microsoft, Meta (formerly Facebook), and Nvidia—are each one of the eight most valuablew companies in the world by market capitalization.
Thanks to the ubiquity of their business, they routinely pull in an annual revenue that exceeds many national GDPs. We visualize how and where Big Tech’s revenues came from, per their latest full-year SEC filings.
Dispute between San Diego personal
injury lawyers spills into public view
Well-known plaintiffs’ attorney John H. Gomez sued the Consumer Attorneys of San Diego, claiming it has sullied his reputation.
Sexual harassment allegations have dogged Gomez for several years, most of which he has denied.
Gomez said he settled two sexual harassment cases.
The filing acknowleges there are pending complaints with the State Bar.
Gomez, who served as president of the association in 2012, alleges the association is now working to undermine his law practice by perpetuating accusations that he is a serial sexual harasser of women.
The group’s board of directors voted two years ago to remove Gomez as a member.
Illumina sets a date to divest Grail
With its legal options running dry, Illumina will look to start fresh as it sets a timeline to completely relieve itself of Grail and its cancer-detecting blood test. The DNA sequencing giant announced it will aim to finalize the details of the divestiture within the first six months of the new year—whether it be through a sale to an interested suitor or by having Grail take itself public.
The decision came over the weekend after a U.S. appeals court handed down its ruling Friday on a lawsuit from Illumina against the Federal Trade Commission. The lawsuit had sought to reverse the agency’s order from this past April directing the company to fully unravel its ownership of Grail.
James Hill appointed warden of Richard J. Donovan Correctional Facility
James Hill, of Alpine, has been appointed warden of Richard J. Donovan Correctional Facility by Gov. Gavin Newsom. He has been acting warden since 2022. Hill served as warden of the California Institution for Men from 2021 to 2022. He held several positions at Centinela State Prison from 2002 to 2021, including chief deputy warden, correctional administrator, correctional captain, correctional lieutenant, correctional sergeant and correctional officer. Hill was a correctional administrator at Calipatria State Prison in 2018.
Hill served in the U.S. Navy from 1992 to 1996. This position does not require Senate confirmation and the annual compensation is $175,332. Hill is a Republican.
County of San Diego’s Free4Me program receives Challenge Award
The County of San Diego’s Free4Me program was awarded the 2023 California State Association of Counties Challenge Award. The program provides free menstrual products in County bathrooms. The Challenge Awards is an annual celebration recognizing innovative and creative programs across the state. The Free for Menstrual Equity, or Free4Me pilot program, was launched May 28, 2021 in restrooms at 24 county-owned buildings and included the installation of 58 tampon and menstrual pad dispensers
Nearly two-thirds of low-income people in the United States report being unable to afford menstrual products at some point during the previous year and have faced a decision between purchasing food or other necessities and menstrual products. This challenge, referred to as “period poverty” disproportionately impacts people experiencing homelessness, transgender people, youth, and low-income individuals.
San Diego International Airport anticipates
busy winter holiday travel through New Year’s Day
San Diego International Airport expects to see more than 700,000 people arriving and departing during the upcoming winter holiday travel week which runs from just before Christmas Day through New Year’s Day. Saturday, Dec. 23, and Saturday, Dec. 30, are anticipated to be the busiest days travel days of the holiday week. The airport anticipates approximately 80,000 people will travel through the airport each day that week.
Passengers are urged to plan ahead before heading to the airport.
With construction underway on the new Terminal 1 parking structure (scheduled to open in late 2024), on-airport parking is extremely limited. Parking is currently available at Terminal 2 Parking Plaza. Anyone planning to park at the airport should make reservations in advance. Reservations can be made for the Terminal 2 Parking Plaza or curbside valet. Make reservations here.
Jamul Casino and Tribe donate $250,000 in 2023
Jamul Casino reports that its team member-led Community Champions initiative along with the Jamul Indian Village of California Tribe has made philanthropic donations this year totaling approximately a quarter of a million dollars. These donations are part of the Tribe and Casino’s ongoing commitment to give back to the San Diego community and the local organizations that are making a difference in people’s lives.
Cetera welcomes $450 million AUA advisor
Cetera Financial Group, the premier financial advisor Wealth Hub, announced that Bill Schumann, CFP, has joined Cetera Financial Specialists from Grove Point Investments. Schumann provides comprehensive financial planning and investment advice to clients and had $450 million in assets under administration as of May 30, 2023. Schumann has more than 40 years of experience in the industry and holds his Series 7 and Series 63 registrations.
Ryan Kaeding named managing director at Trinity Capital
Trinity Capital Inc., a leading provider of diversified financial solutions to growth-stage companies, announced the appointment of Ryan Kaeding as managing director, life sciences in San Diego. .Kaeding, a veteran in the venture ecosystem, has been supporting venture capital-backed growth-stage companies for 20+ years. Kaeding joins Trinity following 12 years of health care investment banking experience, most recently as a managing director at Raymond James and 10 years at Piper Sandler.
XiFin introduces new Payor Rate Transparency Monitor
XiFin Inc., a leading provider of innovative health care information technologies and services that deliver artificial intelligence (AI)-enabled operational efficiency, interoperability, and simplicity, announced that it has launched the Payor Rate Transparency Monitor, the first-of-its-kind interactive visualization tool that compares contracted rates published by UnitedHealthcare, Aetna, and Cigna.
Crowe PR named agency of record for Trace Minerals
Crowe PR. a national public relations and digital agency, announced its partnership with Trade Minerals. Crowe PR will focus on increasing consumer awareness, emphasizing the importance of trace minerals and the brand through media relations, thought leadership, and influencer marketing initiatives. Crowe PR specializes in amplifying brand awareness and visibility for consumer goods, healthcare and technology, and hospitality brands.
City accepting funding applications for art, culture
The City of San Diego is accepting online applications for three funding opportunities in the arts and culture sector. These include the Organizational Support Program, Creative Communities San Diego and the newly introduced Impact categories. The funding supports not only general operating expenses but also projects that have a significant creative impact on the community and increase access to arts and culture in all City Council districts. For additional information on how to apply for these funding opportunities, visit the City website.
Global Picketball Federation launched
USA Pickleball, the National Governing Body for the sport of pickleball, along with pickleball federations across 28 countries, announced the launch of the Global Pickleball Federation. The mission of the GPF is to grow and promote pickleball internationally from the amateur to professional levels with integrity and purpose.
