Daily Business Report: June 13, 2024
Federal court upholds California’s
ban on gun sales on state property
by Nigel Duara | CalMatters
You can talk about guns at California state fairgrounds. You can advertise guns there, too. You can even, in the words of a gun rights group, host “a celebration of America’s gun culture.”
What you cannot do, according to a ruling Tuesday by a three-judge panel on the 9th U.S. Circuit Court of Appeals, is buy or sell a firearm on property owned by the state.
The ruling upholds California’s ban on gun sales on state property, dismissing a challenge from gun show operator Crossroads of the West. The judges distinguished between the free speech rights of gun enthusiasts on public property and the sales that often take place at gun shows.
California gun laws “prohibit accepting an offer to sell firearms or ammunition on state property,” the panel ruled.
Crossroads of the West first sued in 2018 when one of California’s agricultural district associations barred gun shows at Del Mar Fairgrounds in San Diego County. In 2021, a new state law also barred gun sales at the state fairgrounds in Orange County, which inspired another Crossroads lawsuit.
The cases were consolidated, and as they wound their way through the courts, California passed a 2022 law barring all gun sales on state property.
Photo: Gov. Gavin Newsom met with the media at Del Mar Fairgrounds in 2022, where he backed gun control legislation. (Photo by Nelvin C. Cepeda, The San Diego Union-Tribune via AP Photo, CalMatters)
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Insurance commissioner reveals next steps in strategy
to expand coverage options in areas of high fire risk
California Insurance Commissioner Ricardo Lara released further details of his transformative plan to increase the writing of homeowners and commercial insurance policies in areas of the state with high wildfire risk. This action is the next step of his Sustainable Insurance Strategy that will help restore coverage options for Californians across the state while safeguarding the integrity of the state’s insurance market.
Under this regulatory package, insurance companies must detail where they are writing policies in submitted rate filings and the Department will use its existing enforcement authority to hold them accountable. Insurance companies using catastrophe models also will be required to take into account the steps taken by policyholders to mitigate wildfire risk.
City of San Diego secures $37 million
to upgrade aging stormwater system
To help upgrade and modernize the City of San Diego’s aging stormwater system, Mayor Todd Gloria joined officials with the U.S. Environmental Protection Agency (EPA) and the State Water Resources Control Board in Mission Beach on Wednesday to announce $37 million in funding to reduce neighborhood flood risk, better prepare the region for increasingly intense rain events, and advance the city’s Stormwater Capital Improvement Program.
San Diego will receive a $32 million low-interest loan and $5 million grant as part of President Joe Biden’s Bipartisan Infrastructure Law that infuses over $50 billion in U.S. water infrastructure. This investment will enable the City to upgrade storm drain infrastructure in South Mission Beach that dates back to the 1940s and is inadequately sized, resulting in regular flooding in one of the City’s most densely populated neighborhoods.
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Find out which lobbying groups get their
way most often in California Legislature
By Ryan Sabalow | CalMatters
Los Angeles and the Bay Area tend to get their way in the California Legislature. So do labor unions, social justice organizations and defense attorneys. On the flip side, anti-tax, police and business groups are much less successful.
Those are the key findings from a data analysis of the organizations that have been most successful in passing their agendas during the current legislative session, according to CalMatters Digital Democracy project.
The analysis looked at every organization that took a position — either in testimony or in written comments — on at least 25 bills since January 2023, and whether those bills advanced or died in accordance with the group’s position.
The results reflect the priorities of a liberal Legislature where Democrats have held super majorities in both chambers since 2018, said Ken Cooley, a former moderate Democratic Assemblymember from Sacramento County. “To me, this does kind of reflect the ideological bent of the Legislature,” he said.
Unions feature prominently, accounting for five of the 25 most successful organizations. They got their way on bills at least two-thirds of the time.
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City Council rejects petition to put
municipal utility on November ballot
By Elizabeth Ireland | Times of San Diego
The San Diego City Council unanimously voted Monday against placing an initiative on the November ballot that would let voters decide if a nonprofit municipal electric utility should replace San Diego Gas & Electric within city limits.
The council was required to take action after Power San Diego, a campaign made up of customers, union supporters, environmental and community groups, collected enough registered voter signatures to make a determination on the utility alternative.
“I believe strongly that public services like electricity should be provided by public entities, which is why I worked with my colleagues to fund a public power feasibility study,” Council President Sean Elo-Rivera said. “However, I continue to have significant concerns with this proposal. There are far too many questions left unaddressed.”
SDG&E’s rates are consistently highest in the state and often the most expensive in the U.S., according to the U.S. Bureau of Labor Statistics.
“This was a lost opportunity for the city council to support the needs of San Diegans over those of the corporate giant,” Power San Diego Campaign Chair Bill Powers said.
Alaska Airlines adds British Airways flights
Alaskas Airlines is expanding its long-standing partnership with British Airways, a founding member of the oneworld alliance, to now enable guests to purchase convenient, nonstop flights to London directly at alaskaair.com. Guests can buy British Airways flights at alaskaair.com for a seamless travel experience between London Heathrow and Alaska’s gateway airports in Seattle, Portland, San Francisco, Los Angeles and San Diego as well as Chicago and New York JFK. London is one of the most searched-for international destinations on alaskaair.com, with service between Seattle and London being one of the most in-demand routes for our guests in the Pacific Northwest.
Airport Authority administration building earns LEED Gold certification
The San Diego County Regional Airport Authority announced that its newly constructed Administration Building has been awarded the Gold certification under the U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) rating system. LEED is the most widely used green-building rating system in the world and an international symbol of environmental responsibility. The 135,000 square-foot, four-story office building located on the southwest corner of the San Diego International Airport campus earned this prestigious rating by meeting specific sustainability benchmarks for energy efficiency, water conservation, site selection, material selection, and waste reduction.
BodyKore teams up with Booty by Barbells
BodyKore, a leader in fitness equipment manufacturing and innovation, has partnered with Booty by Barbells to launch an innovative group training experience at its newest location in Oceanside. This collaboration brings 11 state-of-the-art Universal Trainer machines to the gym, providing each participant, including the trainer, their own workout station so everyone can train simultaneously. Each week, the classes will focus on a particular goal, such as hypertrophy, power, mobility, stability, or full-body conditioning, to provide detailed, effective workouts for strength, muscle building, fat burning, and overall health. This unique training concept reflects the shared commitment of both BodyKore and Booty by Barbells to delivering advanced fitness solutions.
New podcast, (Cerebral Palsy Answers) premieres on reVolver Podcasts
reVolver Podcasts announce the launch of a groundbreaking new program, Parálisis Cerebral Respuestas (Cerebral Palsy Answers). This unique Spanish-language podcast is dedicated to addressing the myriad questions surrounding Cerebral Palsy (CP). Hosted by the insightful and compassionate Azucena Garcia, a San Diego native, this weekly series promises to deliver invaluable information through in-depth interviews with top specialists and individuals living with CP.’
MONEY and SoFi team up to release the 2024 Best Colleges list
Personal finance digital platform Money and SoFi, a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, announced the release of the 2024’s Best Colleges list today. Now in its 10th year, Money’s Best Colleges includes an analysis of 745 choices that provide applicants the best value for their
money. For the second time, Money analyzed schools and gave them a star rating instead of a numerical ranking, giving users a more useful and nuanced research experience.
SOCi sets new standard for compliance
SOCi Inc., the CoMarketing Cloud for multi-location enterprises, unveiled SOCi Shield, the only all-in-one proactive compliance solution designed specifically for multi-location businesses and financial services firms. A protective layer surrounding the CoMarketing Cloud, SOCi Shield offers comprehensive protection and simplicity for local marketing. It streamlines existing compliance processes, adheres to regulatory standards, and protects brand integrity online at every location.
H20 Audio partners with Inspiring Paralympic medalist Jamal Hill
H20 Audie, the leader in waterproof audio technology, proudly announces a strategic partnership with Jamal Hill, the inspirational Team USA Paralympic swimmer and Tokyo 2020 medalist. The collaboration combines H2O Audio’s innovative technology with Hill’s moving story and dedication to swim education through his Swim Up Hill Foundation. In addition to serving as a brand ambassador, Hill will lend his insights to enhance H2O Audio’s award-winning waterproof audio solutions.
Lucy Therapeutics Inc. raises $12.5 million
Lucy Therapeutics, Inc. (LucyTx), incu incrbated and invested by Viva BioInnovator (VBI), announced it has raised $12.5 million in additional funding led by existing investors Engine Ventures and Safar Partners with new participation from Bill Gates, Parkinson’s UK, and the Michael J. Fox Foundation, which provided a $2 million non-dilutive grant. The fresh capital brings LucyTx’s total funding to date to more than $36 million. The investments will further the company’s research programs for Alzheimer’s and Parkinson’’s diseases and continue its development of a novel drug target for Rett syndrome.
Alida Biosciences announces Serial A Funding
Alida Biosciences (AlidaBio), an innovator in epigenomic research tools, proudly announces the successful completion of a $7.5 million Series A funding round. This funding, led by Genoa Ventures with participation from FusionX Ventures and Vertical Venture Partners, is complemented by two ongoing SBIR grants totaling $4 million from The National Human Genome Research Institute (NHGRI).
Avidity Biosciences Inc. announces proposed public offering of common stock
Avidity Biosciences Inc., a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates, announced that it intends to offer and sell, subject to market and other conditions, $300 million of shares of its common stock in an underwritten public offering. In addition, Avidity intends to grant the underwriters a 30-day option to purchase up to an additional $45 million of shares of common stock. All of the shares to be sold in the offering are to be sold by Avidity.
