Daily Business Report: May 28, 2024
Basketball legend and La Mesa native
Bill Walton dead at 71 after battle with cancer
By Debbie L. Sklar | Times of San Diego
NBA basketball champion and Southern California sports legend Bill Walton died Monday, according to NBA officials. The longtime San Diego resident was 71 years old.
Walton, a La Mesa native whose death came after a long battle with cancer, was a Southern California sports hero who played college basketball for coach John Wooden and the UCLA Bruins, winning three consecutive national college player of the year awards from 1972 to 1974 while helping lead UCLA to the NCAA championships in 1972 and 1973.
Selected as the first overall pick in the 1974 NBA draft, Walton then led the Portland Trail Blazers to an NBA championship in 1977, earning the NBA Finals Most Valuable Player Award. He won another NBA title in 1986 as a member of the Boston Celtics. Walton was inducted into the Naismith Memorial Basketball Hall of Fame in 1993.
As a Hall of Fame player, he redefined the center position.
“His unique all-around skills made him a dominant force at UCLA and led to an NBA regular-season and Finals MVP, two NBA championships and a spot on the NBA’s 50th and 75th Anniversary Teams,” NBA Commissioner Adam Silver stated on Monday.
Walton later became an Emmy Award-winning sportscaster. “Bill translated his infectious enthusiasm and love for the game to broadcasting, where he delivered insightful and colorful commentary which entertained generations of basketball fans,” Silver said.
An outpouring of remembrances were shared on social media Monday, including a message from former United States President Barack Obama.
“Bill Walton was one of the greatest basketball players of all time — a champion at every level and the embodiment of unselfish team play,” Obama wrote on X (formerly known as Twitter). “He was also a wonderful spirit full of curiosity, humor and kindness. We are poorer for his passing, and Michelle and I send our deepest condolences to his family.”
In a statement Monday, San Diego Mayor Todd Gloria said the city was mourning the death of Walton.
“He was a towering figure in basketball and broadcasting as well as a civic icon who loved his hometown,” Gloria said. “Our city’s thoughts are with his wife, Lori, and the entire Walton family. Godspeed, Bill.”
Walton was born on Nov. 5, 1952, in La Mesa, where he grew up and played basketball at Helix High School.
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UC San Diego’s Park & Market — celebrating
two years of community and civic connections
By Jennie Van Meter | UC San Diego
One way universities can boost their community impact is by expanding beyond campus boundaries, enriching the surrounding community educationally, socially, and economically. UC San Diego has done this through a first-of-its-kind mixed-use venue, UC San Diego Park & Market, a multi-tenant building with multiple event, meeting and conference venues, office and retail tenants and arts and culture programs in downtown San Diego.
The unique space, which celebrates its two-year anniversary this month, is located on a full city block in the East Village neighborhood of San Diego and adjacent to the UC San Diego Blue Line Trolley, connecting the jobs center of Torrey Pines Mesa and the university’s La Jolla campus to downtown and the U.S.-Mexico border.
Since opening in 2022, Park & Market—managed by UC San Diego’s Division of Extended Studies—has flourished as a sought-after event and conference venue, and has served a wide and growing client list representing campus departments, large and small corporations, school districts, public agencies, nonprofits, and the military and defense industry.
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How California and the EU work together to regulate artificial intelligence
By Khari Johnson | CalMatters
While the federal government appears content to sit back and wait, more than 40 U.S. states are considering hundreds of AI regulation bills.
California, with its status as a tech-forward state and huge economy, has a chance to lead the way. So much so, in fact, that the European Union is trying to coordinate with the state on AI laws. The EU opened an office in San Francisco in 2022 and dispatched a tech envoy, Gerard de Graaf, to better communicate about laws and regulations around AI.
We are living through what de Graaf calls “the year of AI.” De Graaf and deputy head of the EU office in San Francisco Joanna Smolinska told CalMatters that if California lawmakers pass AI regulation in the coming months, the state can emerge as a standard bearer for the regulation of AI in the United States. In other words: California’s laws could influence the future of AI as we know it.
Last month, de Graaf traveled to Sacramento to speak with several state lawmakers key to AI regulation:
- Assemblymember Rebecca Bauer-Kahan, a San Ramon Democrat, is author of a bill that requires businesses and state agencies report results of AI model tests in an effort to prohibit automated discrimination.
- Democratic State Sen. Scott Wiener from San Francisco is author of a bill to regulate generative AI.
- Assemblywoman Buffy Wicks, an East Bay Democrat, is author of a bill that would require online platforms put watermarks on images and videos generated by AI sometimes referred to as deepfakes ahead of elections this fall.
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Salk Institute receives $5 million gift to support pancreatic cancer research
The Salk Institute will receive a four-year, $5 million gift from the Paul M. Angell Family Foundation to support pancreatic cancer research. The project’s leaders, Salk Assistant Professor Dannielle Engle, Professor Ronald Evans, and Professor Reuben Shaw, will establish a novel pipeline from patients to the laboratory and back to the clinic. The approach will provide a unique opportunity to uncover new diagnostics and therapies for pancreatic cancer.
The gift from the Paul M. Angell Family Foundation will enable Salk scientists to analyze patient tumor samples in the laboratory, construct corresponding pancreatic tumor organoids, and screen compounds — potential drug precursors — to find those that block tumor growth and progression.
The Wicklow Foundation gifts $2 million to Salk Institute to establish the Margaret Faye Wilson Endowment
The Wicklow Foundation has donated $2 million to the Salk Institute to establish the Margaret Faye Wilson Endowment in honor of the banking and retail leader and former Salk trustee. Wilson served on the Salk Board from 2010 to 2019 and was a generous supporter of the Institute’s research over the years. A treasured member of the community, Wilson died in July 2023. The new endowment will support Salk’s Chief Information Officer and the Institute’s biocomputation strategy. With new investments in biocomputation—advanced capabilities in computing, data storage, machine learning, and artificial intelligence—the Institute is working to better position Salk researchers to acquire high-throughput data and harness varied datasets. The Wicklow Foundation’s investment will empower researchers to tackle currently unaddressed scientific questions and open fundamentally new areas of inquiry across fields ranging from cancer to climate change.
$21 million gift to UC San Diego honors unique efforts to link chemical and nano engineering more strongly
A new $21 million gift from San Diego-based business leader and philanthropist Aiiso Yufeng Li (Jeff) and his wife, DongDong Li (Doreen), honors unique efforts at the University of California San Diego to link chemical and nano engineering more strongly – in education and research. In recognition of this gift, the department that houses UC San Diego’s chemical and nano engineers will be named the Aiiso Yufeng Li Family Department of Chemical and Nano Engineering.
(W)right On Communications makes Newsweek’s Best Public Relations Agencies list
San Diego’s (W)right On Communications has been recognized among Newsweek’s Best Public Relations Agencies. The list of 150 agencies is based on a survey of PR agency employees and owners as well as people who work in the PR, communications or marketing department of a U.S. company. Both groups recommended PR agencies in their field of expertise. The agencies with the most recommendations represent 11 client sectors and 13 specializations.
Jamul Casino hires Tom Malloy as VP of marketing
Jamul Casino recently added to its team of hospitality veterans Tom Malloy as vice president of marketing. Malloy joins Jamul Casino with more than 30 years of relevant and exemplary experience where he will now oversee all aspects of the Jamul Casino marketing identity. His focus will be on top-level strategic development that echoes the tribe’s primary goals of community involvement and guest expansion especially with the addition of Jamul Casino’s highly anticipated hotel tower, opening 2025. Since 2000, Malloy has acted as an internal marketing leader for several casinos, both tribal and commercial, across the country
Denovo Biopharma secures $11.8 million grant
Local startup Denovo Biopharma, developing therapeutics targeting brain cancers and mental health disorders, received an $11.8 million grant from the California Institute for Regenerative Medicine. The company will use these funds to advance its late-stage brain cancer gene therapy for high-grade glioma and glioblastoma to Phase I and II clinical trials.
San Diego County Offic of Education partners on California’s first HBCU
In a historic move to bring the first Historically Black College and University (HBCU) to California, the National College Resources Foundation, San Diego County Office of Education, and University of La Verne partnered with Huston-Tillotson University (HTU) to offer an HTU California program starting this fall. Students interested in joining HTU’s San Diego or Los Angeles/Inland Empire camuses are required to complete a six-week summer program at the university’s Austin, Texas campus.
California life science industry generates $414.2 billion annually
Biocom California, the association representing the California life science industry, released a new report showing California’s life science industry directly provides more than 465,000 jobs in the state and generates $414.2 billion in total business output. Biocom California’s 2024 Economic Impact Report outlines these and other key findings about the state’s life science industry, including information on economic, demographic, investment, and industry performance data. The full report analysis and regional fact sheets are available on the Biocom California website.
County Assesor Jordan Marks honored
Jordan Z. Marks, San Diego County Assessor/Recorder/County Clerk (ARCC), was recently honored with a “Public Service Leadership Award” at the inaugural Blu Lapis Southern California Leadership Summit. The awards event, held May 20, recognized a number of Southern California leaders who have made extraordinary contributions to their communities and beyond. Marks was honored for his inspirational commitment and unwavering dedication to the pursuit of excellence, a statement said.
Port and ECOncrete win Climate Leadership Award
The Port of San Diego and ECOncrete have been honored by The Climate Registry (TCR) with the Innovative Partnership Award in the 2024 Climate Leadership Awards. The prestigious accolade recognizes exemplary leadership in reducing carbon pollution and addressing climate change through innovative solutions and sustainable practices. ECOncrete deployed an interlocking tidal pool system it calls COASTALOCK along San Diego Bay’s Harbor Island. The system is made up of concrete mix that incorporates bio-enhancing additives to promote marine biodiversity and reduce the carbon footprint of marine infrastructure projects.
Caltrans opens $4 million SR-56 bike path extension under I-5
Bicyclists and pedestrians will now enjoy the benefit of a recently completed pathway underneath Interstate 5 in Carmel Valley that connects to the already existing State Route 56 Bike Path, North Coast Bike Trail, and Coastal Rail Trail. Caltrans and the California Coastal Commission joined partner agencies to officially open the $4 million State Route 56 (SR-56) bike path extension. The State Highway Operations and Protection Program (SHOPP) provided funding for this project, which provides an important link to other regional bike paths.
$14 million secured for Southern Border Coalition to advance quality jobs
The San Diego & Imperial Community Colleges Center of Excellence, in collaboration with the San Diego Regional Policy & Innovation Center recently drafted a plan that secured $14 million from California Jobs First for the Southern Border Region, which is comprised of San Diego and Imperial counties. This significant investment from the state will fuel pre-development activities that will 1) lead to a net-zero economy, 2) create high-road jobs and 3) benefit disinvested communities in the Southern Border Region
Blanchard announces collaboration with OpenAI
Blanchard, a global pioneer in leadership development, consulting, and coaching for more than 40 years, proudly announces the strategic partnership with OpenAI, adopting its ChatGPT Enterprise platform. This collaboration signifies Blanchard’s commitment to revolutionizing the approach to leadership training and development, ensuring that leaders are not only prepared for the challenges of today but become visionaries for the opportunities of tomorrow.
Ascent completes first public securitization in a $287 million offering
Ascent, a leading provider of innovative financial products and student support services, enabling students to access education and achieve academic and economic success, announced its inaugural public securitization in a $287.43 million transaction. The offering included its most innovative product to increase access to college education, the pioneering Outcomes-based Loan. Ascent is the leading provider of innovative financial products and wrap-around student support services that enable more students to access education and achieve academic and economic success.
