Daily Business Report: May 22, 2024
Imperial Valley is California’s harshest charging
‘desert’ for electric cars. Local activists want to change that
By Alejandro Lazo | CalMatters
Few places in California are as unforgiving for driving an electric car as the remote and sparsely populated Imperial Valley.
Only four fast-charging public stations are spread across the valley’s vast 4,500 square miles just north of the US-Mexico border, according to the U.S. Department of Energy. That means if you’re Greg Gelman — one of only about 1,200 Imperial County residents who own an electric car — traveling almost anywhere is a maddening logistical challenge.
“It’s been, I won’t say a nightmare, but it’s been very, very, very inconvenient,” Gelman said on a recent afternoon as he charged his all-electric Mercedes-Benz at a charging station in a Bank of America parking lot in El Centro. “Would I do it again? No.”
California’s electric charging “deserts” like the Imperial Valley pose one of the biggest obstacles to the state’s efforts to combat climate change and air pollution by electrifying cars and trucks.
Experts say the slow installation of chargers in California’s remote regions could jeopardize the state’s phaseout of new gas-powered cars. Under the state’s mandate, 35 percent of sales of 2026 models must be zero-emissions, ramping up to 68 percent in 2030 and 100 percent in 2035.
Nestled in the desert in California’s far southeast corner, Imperial County ranks dead last in electric car ownership among California counties with populations of 100,000 or more, according to a CalMatters analysis of 2023 data. Only 7 out of every 1,000 cars are battery-powered there, compared with 51 out of every 1,000 statewide.
Photo: A map shows the electric car charging stations that the nonprofit group Comite Civico Del Valle plans to build in the Imperial Valley. (Photo by Adriana Heldiz, CalMatters)
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Momentum builds in sales of single-family homes in San Diego County
Sales of single-family existing homes in San Diego County continued to rise in April, while attached home sales dipped. Data on the current resale market is compiled by the Greater San Diego Association of Realtors.
The market for previously owned single-family (detached) homes in April grew by more than 5 percent compared to March, and nearly 6 percent over April of 2023. Attached properties (condominiums and townhomes), on the other hand, dipped slightly by 2 percent month-over-month, and were down about 1 percent from a year ago. For the year-to-date, home sales are up only about a percent; however, supply of homes on the market in San Diego County is up about 50 percent from last year.
The median price of detached homes in April increased by almost 5 percent over March, landing at $1.1 million. That’s a 16 percent increase over April 2023. Condos and townhomes hit a median price of $685,000, about a 2 percent increase month-over-month, and a 6.6 percent rise from a year ago.
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Foxhill Estates in La Jolla sells for $35 million
The most expensive single-family property sold last month in San Diego County was Foxhill Estate, one of San Diego’s largest and most historic properties. Set on 30 acres in La Jolla, the gated property features a 17,000-square-foot home, an eight-car garage and a putting green. Built in 1959 by James Copley, former publisher of the San Diego Union-Tribune, the estate sold on April 30 for $35 million.
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Northrop Grumman’s Microeletronics Center magnifies the microscope
Today’s dynamic global security threats require solutions both big and small – solutions living within the Northrop Grumman Microelectronics Center. A radar system which once required about eight transmit-receive modules for certain functions, each the size of a stick of gum, now is made possible with one tiny chip measuring less than a square inch. This is just one example living across the hundreds of systems leveraging microelectronics. Our quests to cut down on data loss, reduce size weight and power and the ability to provide a broader variety of materials for overall survivability have been accomplished because of the technological might of this center.
“The advanced computing center of the world is not in Silicon Valley, it’s right here in our foundries because of the advanced technologies we are working on,” said Vern Boyle, sector vice president, Northrop Grumman Microelectronics Center. “We are in the process of providing access to our microelectronics product lines to defense and commercials industries. Forward-thinking technologies, developed at Northrop Grumman ahead of their needed mission, is what sets this business apart.”
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California is on track for another record year spent on lobbyists
By Jeremia Kimelman | CalMatters
Special interest groups spent more than $114 million to lobby California officials and legislators in the first quarter of this year, matching the pace last year when a record $480 million was spent to influence state policy decisions.
So far, nearly $600 million has been spent since the current two-year session of the Legislature started in January 2023. This year’s pace so far is about $1.25 million per day.
The top 10 spenders for the first quarter of 2024, revealed in the latest financial reports filed with the Secretary of State, include nine that have been on the top 10 list since 2005. The only one that wasn’t: Contra Costa County.
Here are the 10 organizations that invested the most in state level lobbying between January and March of this year and how much they spent.
- Chevron U.S.A., Inc. and Affiliates — $3.07 million
- Western States Petroleum Association– $2.47 million
- California Chamber of Commerce — $1.18 million
- Howard Jarvis Taxpayers Association — $1.05 million
- California Hospital Association/California Association
of Hospitals and Health Systems — $1.02 million
- Pacific Gas and Electric Company and its affiliated entities — $1.14 million
- Contra Costa County — $772..77K
- AT&T Services Inc. and it affiliates — $865.46K
- California State Council of Service Employees — $753.94K
- California Teachers Association — $667.16K
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Braille Institute announces Lauren Ingersoll as 2024 ‘Teacher of the Year’
Braille Institute announces Lauren Ingersoll as its 2024 “Teacher of the Year” for excellence in braille instruction. With over 21 years of experience as a Teacher of the Visually Impaired (TVI), Ingersoll has serviced five school districts in the San Diego area catering to students across all grade levels who have visual impairments. Ingersoll works with students teaching braille from preliteracy through college level classes. “My passion is working with children and finding engaging and enjoyable ways to foster a love for braille reading and writing,” said Ingersoll.
Transposon receives FDA ‘Fast Track Designation’ for TPN-101
Transposon Therapeutics, a biotechnology company developing a platform of novel, orally administered therapies for the treatment of neurodegenerative and aging-related diseases, announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to TPN-101 for progressive supranuclear palsy (PSP). The FDA grants Fast Track designation to facilitate the development and expedite the review of medicines to treat serious conditions and fill an unmet medical need.
Cali Biosciences announces successful Phase 2 study results in hernia
Cali Biosciences Co. Ltd., a biotechnology company dedicated to the research and development of innovative drugs, announced publication of “CPL‑01, an investigational long‑acting ropivacaine, demonstrates safety and efficacy in open inguinal hernia repair” in the scientific journal Hernia. The article’s authors are Hanghang Tommy Xu, John Zimmerman, Todd Bertoch, Lee Chen, PJ Chen, and Erol Onel. Cali Biosciences US, LLC was established in San Diego in 2016, and later Cali Biosciences built its global headquarter in Shenzhen.
Anna Richo joins Illumina’s Board of Directors
Illumina Inc. announced that Anna Richo has joined the company’s Board of Directors following shareholder approval of the director slate at the company’s May 16, 2024, annual meeting. Richo currently serves as corporate senior vice president, strategic adviser to the general counsel and CEO at Cargill Inc. a global food production and agricultural company. Ms. Richo brings more than 30 years of regulated-industry experience as an attorney and legal executive, with extensive experience in compliance and business ethics, intellectual property, and corporate litigation.
Franchise offers fitness, recovery, life-coaching and faith
Todd Durkin, internationally recognized mindset coach, and fitness trainer behind some of the world’s top athletes (including NFL greats Drew Brees and Jordan Love), is joining forces with fitness industry veterans Travis and Cyndy Barnes to announce the launch of IMPACT-X Performance, a new gym franchise set to reshape the fitness industry. “We are more than just a fitness franchise; we are a community of lighthouses, shining light into darkness,” said Durkin. IMPACT-X Performance’s core pillars incorporate fitness, recovery, life-coaching and faith.
Bumble Bee debuting new advertising campaign
Bumble Bee is debuting a new advertising campaign featuring the talented trio better known to the millennial crowd as BBMAK, one of the original 2000s era “boy bands.” All three original band members, Mark Barry, Christian Burns, and Stephen McNally, star in the new “Snack Meal, Baby” music video-esque ad for Bumble Bee, a tuna twist on “Back Here,” the band’s biggest hit song ever. Currently, BBMAK is touring the country as part of the Pop 2000 Tour, hosted by Chris Kirkpatrick of NSYNC and performing alongside O-Town, LFO, and Ryan Cabrera.
Quanta partners with Obsidian Sensors to spearhead thermal imaging solutions
Quanta Computer Inc., a trailblazer in advanced technology solutions for computing, consumer electronics and smart automotive solutions, is partnering with Obsidian Sensors Inc., a San Diego company, to produce high resolution thermal imaging cameras for automobiles. Obsidian Sensors is revolutionizing the thermal imaging industry by producing high resolution thermal sensors at low cost and high volume on LAMP (Large Area MEMS Platform), manufactured at established flat panel foundries.
Annex Brands maintains North American shipping and business services
Annex Brands Inc. has opened 75+ new franchise locations and experienced 120+ resales since the beginning of 2021, with many resale locations passing ownership to younger generations and former managers. In honor of National Small Business Month, it’s noteworthy that Annex Brands’ network of 850+ franchise locations continues to make it one of the leading packing and shipping franchisors, supporting small business opportunity and growth in local communities across the country.
Nature Communications publishes results of a COVID-19 vaccine
Global biotechnology leader CSL and San Diego-based Arcturus Therapeutics announced Nature Communications has published results from an integrated phase 1/2/3a/3b study evaluating the safety, immunogenicity, and efficacy of ARCT, 154, a novel self-amplifying COVID-19 vaccine and the world’s first approved sa-mRNA COVID-19 vaccine. The results demonstrate that two 5 μg doses of ARCT-154, sa-mRNA vaccine, were well-tolerated, immunogenic and provided significant protection against multiple strains of COVID-19.
Simon announces new luxury lifestyle mixed-use development at Fashion Valley
Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, announced significant reinvestment to integrate luxury living at Fashion Valley. Following the recent completion of a multimillion-dollar revitalization, the new development further positions the center as the epicenter of upscale shopping, dining, and living in the San Diego area. Renowned for its curated collection of designer brands, Fashion Valley will soon transform into a community unto itself with 850 multi-family luxury residences by AMLI Residential, a leader in luxury apartment living.
