Daily Business Report: May 9, 2024
Commentary
Politicians keep shifting blame as California’s
homelessness crisis worsens
By Dan Walters
Over the last half-decade, state government has spent about $24 billion to ameliorate California’s worst-in-the-nation homelessness crisis. Local governments and private charities have spent countless billions more.
Despite those immense expenditures, the number of unhoused Californians has continued to increase to more than 181,000 in the latest federal census. It’s not only the most of any state but the highest ratio vis-a-vis population, and 28 percent of the national total.
The data imply that whatever officials have been doing hasn’t worked – or even more ominously that underlying factors, such as extremely high living costs, particularly for housing, and macro economic trends are so powerful that officialdom can only nibble at the margins no matter how much money they spend.
Recent political discourse on the issue indicates that Gov. Gavin Newsom, state legislators and local government officials recognize, if not publicly acknowledge, the virtual impossibility of significantly reducing homelessness, and therefore have evolved into self-protective blame-shifting.
When Newsom was running for governor six years ago, he promised to appoint a “czar” who would wage a frontal assault on homelessness. A year into his governorship, reporters pestered him about making good on the promise. Obviously irritated, Newsom pounded the podium at a budget news conference and snapped, “You want to know who’s the homeless czar? I’m the homeless czar in the state of California.”
As the number of homeless people continued to rise, Newsom began shifting from promises of effective action to blaming others for failure – local government officials in particular.
Top Photo: A homeless encampment in Los Angeles on June 20, 2023. (Photo by Julie A. Hotz for CalMatters)
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San Diego County wine sales reach all-time record of $54.5 million in 2023
San Diego County wineries received about $54.5 million in gross sales last year, an 11 percent jump over 2022 — representing a record high, according to the San Diego County Vintners Association.
The association released the San Diego County Economic Impact of Wineries report on Wednesday as it prepares to celebrate San Diego Wine Week May 13-19.
Other highlights of the report:
- The number of active planned wineries in San Diego County is currently 166.
- Newer and expanded wineries led job growth in the sector, which rose to an estimated 802 jobs in 2023, a 13 percent increase over 2022 totals.
- Yields from San Diego’s 2023 grape harvest season significantly improved from the prior year; most respondents indicated an above average (32 percent) or average (24 percent) yield, compared to 2/3rds indicating a below average (66 percent) harvest yield in 2022.
- Industry staffing, recruitment and retention continue to be challenges for county wineries.
Click here for the full report.
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MiraCosta College named a semifinalist
for prestigious 2025 Aspen Prize
The Aspen Institute named MiraCosta College as a semifinalist for the 2025 Aspen Prize for Community College Excellence. The $1 million award is the nation’s signature recognition of high achievement and performance among community colleges. The institutions selected for this honor stand out among more than 1,000 community colleges nationwide as having high and improving levels of student success, as well as equitable outcomes for Black and Hispanic students and those from lower-income backgrounds.
Awarded every two years, the Aspen Prize honors colleges with outstanding performance in six critical areas: teaching and learning, certificate and degree completion, transfer and bachelor’s attainment, workforce success, broad access to the college and its offerings, and equitable outcomes for students of color and students from low-income backgrounds. The winner will be announced in the spring of 2025.
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Cox Business Survey shows AI support by small businesses and employees
Despite the headlines touting AI as human replacement, most small business owners and employees surveyed by Cox Business view the technology as a tool to strengthen and grow their teams. Cox Business surveyed small business owners and employees to better understand their usage of and sentiment on AI in the workplace. Fifty-two percent of small business owners said AI enables them to increase or retain employees, and 65 percent of small business employees said the same.
Enhancing customer experience
Both small business owners and employees feel they have a good grasp on what AI is and feel comfortable using the tools within their organization:
- 85 percent of owners are somewhat to very comfortable using AI tools in their business.
- 75 percent of employees are somewhat to very comfortable using AI tools in their business.
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General Dynamics NASSCO christens the fifth ship in the Navy’s ESB program
General Dynamics NASSCO christened the USNS Robert E. Simanek (ESB 7), the fifth ship for the U.S. Navy’s Expeditionary Sea Base (ESB) program. The Honorable Sean Coffey, General Counsel of the Navy, served as the principal speaker at the ceremony, in addition to remarks from NASSCO, U.S. Navy, and U.S. Marine Corps representatives. Following remarks, Ann Simanek Clark, ship sponsor and daughter of the ship’s namesake, christened the ship with the traditional champagne bottle break alongside the hull.
The ship is named for Private First Class Robert Ernest Simanek, who was awarded the Medal of Honor for shielding fellow Marines from a grenade at the Battle of Bunker Hill during the Korean War. The Medal of Honor was presented to him by President Dwight D. Eisenhower in a White House ceremony in 1953.
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Study pinpoints cellular response to pressure in Sea Star embryos
An international team of scientists has discovered a new cellular mechanism that explains how cells can adapt to pressure changes during tissue growth by packing themselves into a unique shape.
Researchers at UC San Diego’s Scripps Institution of Oceanography, Stanford University’s Hopkins Marine Station, and the Institute of Biomedicine in Seville (IBiS) in Spain led the research, which is novel for its use of sea star embryos as model organisms in this context. Their findings were publishe in the journal Development on May 7.
The lab work was conducted at Scripps Oceanography’s Center for Marine Biotechnology and Biomedicine in the Lyons Lab, which is focused on advancing the field of evolutionary developmental biology using marine invertebrates. The study is notable for its use of marine embryos — specifically the embryo of the sea star Patiria miniata — to understand how cells cope with changes in their physical environment.
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Neurocrine Biosciences to present at the BofA Securities Health Care Conference
Neurocrine Biosciences Inc. will present at the BofA Securities 2024 Health Care Conference at 11:20 a.m. Pacific Time (2:20 p.m. Eastern Time) on Tuesday May 14, 2024 in Las Vegas. Kevin Gorman, chief executive officer, Matt Abernethy, chief financial officer, and Kyle Gano, chief business development and strategy officer, will present at the conference. The live presentation will be webcast and may be accessed on Neurocrine Biosciences’ website under Investors at www.neurocrine.com.
FM Global launches Renewable Energy Unit
Commercial property insurer FM Global announced the launch of a Renewable Energy unit to help clients in the transition to alternative energy through research and innovation, and to support the overall advancement of the renewable energy industry. FM Global unveiled the new initiative as part of its presence at the RISKWORld conference in San Diego this week, announcing leadership for the new unit and disclosing that it will begin offering a renewable energy insurance product later this year.
Radical Science welcomes former FTC commissioner
Pamela Jones Harbor to Strategic Advisory Board
Radicle Science, award-winning healthtech B-corp and Proof-as-a-Service pioneer, announces the appointment of Pamela Jones Harbour, the first African-American female commissioner of the United States Federal Trade Commission (FTC), to its Strategic Advisory Board. Harbour’s addition underscores Radicle Science’s deep commitment to innovative research and regulatory compliance for the dietary supplement industry.
Cetera appoints Marten Hoekstra to Board of Directors
Cetera Financial Group, the premier financial advisor Wealth Hub, announced that Marten Hoekstra has joined its Board of Directors. Hoekstra has nearly 30 years of experience in leadership roles at UBS and its predecessor firm PaineWebber and has a deep understanding of the wealth management industry. As the newest member of Cetera’s Board of Directors, he will be instrumental in guiding Cetera’s organic growth strategies through recruitment, retention and asset growth. Hoekstra’s experience includes multiple leadership roles at UBS.
Dr. Vijay Patel appointed director of Pediatric Complex
Sinus and Skull Base Surgery Program a Rady Children’s Hospital
Rady Children’s Hospital-San Diego and the University of California San Diego announce that Vijay A. Patel, M.D., has been appointed as director of the Pediatric Complex Sinus and Skull Base Surgery Program at Rady Children’s Hospital and assistant professor of otolaryngology a UC San Diego School of Medicine. Dr. Patel will lead a multidisciplinary team of physicians committed to providing comprehensive care for pediatric patients with complex sinonasal and skull base lesions.
Athletic Brewing Company, America’s largest non-alcoholic brewery, will celebrate the inaugural “Ask For Athletic Day” during American Craft Beer Week by offering its award-winning non-alcoholic beer to fans across America. Athletic Brewing will pick up the tab on your first brew for any consumer (21+) who visits a bar or restaurant on Thursday, May 16, and orders Athletic.
Tide Rock acquires full-service Premier Packaging Inc.
Tide Rock, an unlevered buyout firm with a portfolio of diverse economically resilient B2B businesses, acquired Premier Packaging Inc., a contract packaging company in Memphis, Tennessee. Since its founding in 1997, Premier Packaging has earned a reputation for quality work addressing time sensitive, specialized and short-run packaging needs. The company offers a wide range of custom supply chain solutions, including primary and secondary packaging, kitting, assembly, sorting, and labeling as well as value-added warehousing services.
TuSimple appoints two new directors to its Board of Directors
TuSimple Holdings Inc., a global autonomous driving technology company, announced the appointment of Albert Schultz and Jianan Hao to its Board of Directors. Schultz, an independent director, brings extensive experience from his roles at the CIA and as an entrepreneur. His background will further bolster TuSimple’s governance practices and help ensure regulatory compliance. Hao is the chief operating officer at TuSimple and has been with the company since its inception. He has a strong technical background and deep understanding of the company’s technology and global presence.
Bespoke Partners achieves record commercial results
Bespoke Partners, the largest retained executive search fir for software and SaaS companies, announced commercial performance in the first quarter that exceeded all targets and the launch of its private equity-focused Alliances Program and the Bespoke Leader Community.
Bespoke’s outperformance included winning a record number of searches to recruit executives in software and SaaS companies with private equity sponsors, bucking the industry trend.
Belmont Village and Greystar announce luxury senior living in Rancho Santa Fe
Belmont Village Senior Living and Greystar Real Estate Partners LLC are excited to announce the development of Belmont Village Rancho Santa Fe, a luxury senior housing community within the gated Lakes of Rancho Santa Fe master-planned community. The project has been years in the making and is fully entitled. Groundbreaking is expected before year-end. Located at 16202 Sunny Summit Drive in Rancho Santa Fe, the project will feature over 185 apartments including 15 free-standing cottages with extraordinary indoor/outdoor amenities.
RMS North America and Solonis release product enhancements
RMS North America and Solonis, leading providers of cloud-based reservation and property management systems to the hospitality industry, announced their latest product enhancements designed to boost the guest experience and streamline day-to-day operations for property partners. RMS and Solonis’ recent improvements include more guest experience options and smarter tools to simplify daily tasks. With the new Loyalty by Nights module, guests earn rewards for each night they stay at a property.
PracticeTex appoints Steve Auerbach as new chief executive officer
PracticeTek, a leading provider of software, payments and billing solutions to the retail healthcare market, has announced that Steve Auerbach has been named chief executive officer, effective May 1, 2024. He has served as the chairman of the board since October 2023. Auerbach brings more than 30 years of health care experience, having most recently served as the CEO of Alegeus, a leading benefit administration platform in consumer directed health care and a former Lightyear Capital portfolio company.
Sapient appoints Jonathan Usuka as chief business officer
Sapient, a leading biomarker discovery organization providing at scale services for multi-omics data generation and analysis, has announced the appointment of Jonathan Usuka, MBA as chief business officer, expanding its leadership team to support and further propel the company’s rapid growth. In this role, Dr. Usuka will lead Sapient’s global business strategy for commercial collaborations, strategic partnerships, and client service innovations across its proteomic and metabolomic offerings leveraging Sapient’s Human Biology Database, the company’s industry leading real-world data asset.
