Daily Business Report: June 20, 2023
UC San Diego starts building huge student
union and a 2,400-bed residential village
UC San Diego’s seemingly endless growth will expand further this week when the school starts building a 2,400-bed residential village and a large student union that will become the social center of campus.
The projects will jointly cost nearly $1 billion and are meant to help meet a big demand for housing and create a central gathering spot at a school whose enrollment could rise by 7,000 over the next decade. The school currently has almost 43,000 students.
The new housing village — to be known as Ridge Walk North Living and Learning Neighborhood — will erase a part of the university’s history. The school will tear down low-rise apartments that have served UCSD since the mid-1970s.
Photo: Triton Center will house everything from student health services to a welcome center for alumni. (Courtesy of UC San Diego )
Renters’ rights: California advocates chip
away at landlords’ political influence
By Alejandra Reyes-Velarde | CalMatters
When state Sen. Maria Elena Durazo introduced a bill in March to bolster the California Tenant Protection Act, she called for lowering the cap on rent increases to 5 percent, while closing loopholes landlords use to evict tenants when there’s no “just cause.”
By the time her “homelessness prevention” bill moved to the Senate floor on May 31, negotiations and compromise had watered it down. The rent cap provision was gone and several other provisions were significantly curbed.
That the bill lost some of its strength disappointed renters’ rights groups that had made the proposal their top priority. But the measure still passed the Senate. And other pro-tenant legislation, such as a bill by Assemblymember Matt Haney to limit security deposits,
also is still alive this session.
Those victories are evidence, advocates say, that renters are gaining influence in the Capitol. Though groups representing landlords and real estate continue spending millions on lobbying and supporting candidates, tenants rights groups are starting to chip away at their influence.
“It’s still an uphill battle for tenants in Sacramento,” said Shanti Singh, legislative director for the Tenants Together coalition. “But, at the same time, you do see the tide turning.”
The shift comes as housing and homelessness crises touch every corner of California, injecting a sense of urgency into potential state legislation.
Rob Knight appointed The Wolfe Family
Endowed Chair at Rady Children’s Hospital
Rob Knight has been appointed The Wolfe Family Endowed Chair in Microbiome Research at Rady Children’s Hospital-San Diego.
Knight will continue his microbiome research with a focus on the development of microbiome-based and companion diagnostics, which provide patients with early warnings of disease flares and can rapidly accelerate the process of finding the correct treatment.
Knight, who is also a professor of pediatrics, bioengineering, and computer science and engineering at UC San Diego, is an international leader in the scientific study of microbes and has made countless contributions to pediatric medicine. His work has produced many of the initial software tools and laboratory techniques that enabled microbiome science, including the QIIME pipeline and UniFrac, both of which have been cited thousands of times.
Viasat Vice Chairman Rick Baldridge to retire
Carlsbad-based Viasat Inc. reports that Rick Baldridge will be retiring from his position as vice chairman, effective June 30, and will remain a member of the board of directors.
The announcement comes following the successful close of Viasat’s acquisition of Inmarsat, a deal Baldridge led for the last two years.
Baldridge joined Viasat in 1999, and has served in senior executive roles including executive vice president and chief operating officer from 2002, and as president and chief operating officer from 2003. He was appointed president and chief executive officer in November 2020 and assumed the role of vice chairman in July 2022.
“In his more than 20-year career with Viasat, Rick has been integral to the evolution of the company – supporting our approximately 50x revenue growth from a subsystems technology manufacturer to a global industry leader in satellite communications services, systems solutions, and space and ground products,” said Viasat Chairman and CEO Mark Dankberg.
San Diego County Water Authority board
holds public hearing on 2024 water rates
The public hearing is scheduled to start when the Administrative and Finance Committee meets at 9 a.m. at 4677 Overland Ave. in San Diego. The hearing will also be livestreamed. Public comments will be accepted in person; via Zoom.
While the Water Authority currently sets rates annually to address changing conditions, the agency’s budgets span two fiscal years. The recommended $1.8 billion budget for fiscal years 2024 and 2025 is up 5 percent from the current two-year budget due to higher costs for water, treatment and infrastructure maintenance. Similar scenarios are playing out across the state and nation as water suppliers struggle to balance rapidly increasing costs with highly variable demands and dwindling supplies.
ESET expands its cybersecurity platform
SAN DIEGO — ESET, a global leader in cybersecurity, announced that it has expanded its unified cybersecurity platform, ESET PROTECT, with a new subscription tier for businesses requiring all-in-one prevention, detection and response. Available immediately, ESET PROTECT Elite delivers enterprises, small and midsize businesses (SMBs), and channel partners with enterprise-grade XDR for increased visibility and threat-hunting capabilities. The comprehensive offering combines multilayered endpoint protection with multi-factor authentication, server security, advanced threat defense, full disk encryption, mail security and cloud application protection.
Sony Electronics and Zoom Video
Communications in partnership
SAN DIEGO — Sony Electronics Inc. announced that Zoom Video Communications Inc. will be coming to BRAVIA TVs, compatible with BRAVIA CAM. This partnership will allow users to easily connect with friends, family, and colleagues for video calls and meetings from the comfort of their living room. Sony’s BRAVIA is the first TV brand to support the Zoom for TV app on Google Play Store. With Zoom on BRAVIA TVs, users can now easily communicate through the big screen with the BRAVIA CAM. This includes video communication, screen sharing, and collaboration tools.
Jacobs Center hosts inaugural health fair
SAN DIEGO — Jacobs Center for Neighborhood Innovation, a nonprofit located in the heart of Southeastern San Diego, invites residents to attend its second event of the year – a health resource fair at the Joe & Vi Jacobs Center Celebration Court on June 24. The free community event, from 10 a.m.-1 p.m., will have accessible health resources such as blood pressure screenings, nutrition education, mental health materials, limited diabetes testing, mammograms and dental exams for those who are uninsured, and assistance with applying or renewing Cal-Fresh, Medi-Cal and Medicare.
Cubic features tactical edge technology
solutions during Modern Day Marine
SAN DIEGO — Cubic Defense will showcase its technology that enables edge users to connect, secure and analyze mission-critical data at the tactical edge during Modern Day Marine, a conference is set for June 27-29 at the Walter E. Washington Convention Center in Washington, D.C. The annual Modern Day Marine conference provides a forum for Cubic to gain insight and understanding into the U.S. Marine Corps’ Force Design 2030 priorities, as well as the opportunity to showcase its solutions designed to meet or exceed the Corps’ tactical and training requirements.
Jack in the Box and Snoop Dogg
unite for limited edition Munchie Meal
SAN DIEGO — Jack in the Box Inc. announced the brand is teaming up with Snoop Dogg to create Snoop’s Munchie Meal. If there’s one thing Jack in the Box and Snoop Dogg know about, it’s late night. Fit for the D-O-double-G himself, Snoop’s Munchie Meal features a wide variety of Jack’s iconic offerings to cure all late night cravings, sweet or salty for $14.
In celebration of the 10 year anniversary of the original Munchie Meal, Jack in the Box is Dropping Snoop’s Munchie Meal like it’s hot. Jack in the Box is also introducing the Build Your Own Munchie Meal. Pick between 1 of 4 different entrees.
Heritage Global appoints Tony
Spencer as senior vice president
SAN DIEGO — Heritage Global Capital, a division of Heritage Global Inc., specializing in flexible funding structures for the Accounts Receivable Management “ARM” industry, announced that Tony Spencer has been appointed as senior vice president of credit risk operations and originations. Spencer brings extensive knowledge and expertise to HGC in both credit risk operations and originations, gained from years of experience in portfolio management. He spent two years with PRA Group, where he was responsible for portfolio acquisitions in the U.S. and Canada.
Equity Oak Ventures closes on two
off-market industrial properties
SAN DIEGO — Equity Oak Ventures LLC announced the $22.5 million all cash, off-market acquisition of two industrial/R&D assets in San Diego. The two-building portfolio includes 1900 Aston Ave., a 100 percent leased 44,757-square-foot industrial/R&D corporate headquarter asset within the Carlsbad Research Park; and the 100 percent leased 42,862-square-foot industrial business park located at 11225-11245 W. Bernardo Court.in Rancho Bernardo. The portfolio was an off-market opportunity originated by Equity Oak Ventures.
San Diego’s Concert Health
partners with Froedtert Health
SAN DIEGO — Concert Health, a leading behavioral health medical group, announced a partnership with Froedtert Health, a leading Wisconsin-based health care provider, to improve the quality of care for pediatric, women’s health, and primary care patients. The partnership, which launched in spring 2023, involves 30 providers in Manitowoc and Sheboygan counties. Concert Health specializes in the Collaborative Care Model, an evidence-based approach to identifying and treating patients with behavioral health conditions in primary care settings.
Top ice cream offerings offered
at The Craft Creamery in Point Loma
SAN DIEGO — To sample flavors from the country’s top independent creameries – and local favorites too – seek out The Craft Creamery in Point Loma. The business at 1302 Rosecrans St. was recently taken over and remodeled by entrepreneur Ryan Sisson, founder/CEO of Moniker Group in Liberty Station. Moniker’s multifaceted brand draws from numerous specialties including interior design, custom-made furniture, co-working spaces, a cocktail bar and catering, a coffee company, a retail store, unique event properties, and now a craft creamery.
Guild Mortgage introduces 1 percent
Down Payment Advantage program
SAN DIEGO — Guild Mortgage announced the immediate availability of its 1 percent Down Payment Advantage program, a new 1 percent down, 1 percent one-year lender interest rate buy down home loan program designed to make homeownership more attainable in today’s housing market. Traditionally, a 3 percent down payment is the minimum required for conventional loans. The 1 percent Down Payment Advantage program allows homebuyers to purchase a home with a minimal down payment of only 1 percent of the purchase price, and Guild covers the remaining 2 percent to bring the down payment to the 3 percent requirement.
Home Start raises nearly $150,000
for child abuse prevention efforts
SAN DIEGO — Home Start, a local nonprofit organization dedicated to child abuse prevention and providing evidence-based family strengthening services, celebrated its annual Blue Ribbon Gala at The US Grant Hotel. The event raised nearly $150,000 for funding its crucial programs and assistance services. Funds raised will go towards Home Start’s services to help children, families, and individuals affected by tragedies including homelessness, domestic violence, hunger, abuse and neglect. The Presenting Sponsor for the event was U.S. Bank. For more information about Home Start, visit www.home-start.org.
