Daily Business Report: June 20, 2024
A California senior lost $700K to scammers.
Now she’s asking the state to slow bank transfers
By Ryan Sabalow | CalMatters
Alice Lin’s husband died, and she found herself alone and caring for a disabled son. Then two years ago, the 81-year-old Alhambra woman said she started getting texts from a stranger on a messaging app.
Over the course of a series of friendly chats, he convinced her to wire $720,000 — her entire life savings — to a cryptocurrency app.
So she did – in seven separate in-person transactions at her local bank over three weeks. Her life savings disappeared, along with the man who scammed her. For a time, she said she contemplated suicide. But then she got angry – at her bank.
“Despite many red, red flags, my bank failed to consider that I might be a victim of elder fraud,” Lin told the California Assembly’s Banking and Finance Committee this week. “And they did not even contact my daughter, who is the joint account holder on the account.”
In the months since, Lin started working with Consumer Attorneys of California to sponsor Senate Bill 278, a measure aimed at preventing elder fraud scams like the one that drained Lin’s investment accounts.
The bill, by Napa Democratic Sen. Bill Dodd, would require that financial institutions delay transactions of more than $5,000 by at least three days if they “reasonably” suspect an elderly person is a victim of fraud. Banks would be required to train their employees to spot red flags, such as an unusually large and sudden transaction. Banks would also have to take steps to inform an elderly customer’s designated “emergency financial contact” or joint account holder – someone like Lin’s daughter – of a suspected fraudulent transaction.
“Elder financial abuse is everywhere,” Dodd told the banking committee. “Losses exceed $23 billion annually. Once a senior falls prey to financial fraud, they may never recover.”
Photo: A bill by Napa Democratic Sen. Bill Dodd aims to keep seniors from being scammed.
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California hits Amazon
with fines under warehouse worker law
By Jeanne Kuang | Cal Matters
California workplace regulators are fining Amazon $6 million over alleged violations of a recent warehouse labor law at two of the company’s Inland Empire warehouses.
Labor Commissioner Lilia García-Brower’s office said Tuesday that the e-commerce giant failed to notify employees at the ONT8 warehouse in Moreno Valley and ONT9 in Redlands of any productivity quotas they were required to meet, leading workers to be disciplined without knowing why.
“If you don’t work a certain number of items per day and make sure you meet your rate you’ll get a write-up, or a verbal coaching,” Carrie Stone, an ONT8 worker, said at a press conference today. “My manager said I missed it by 1 percent, and I got the write-up. I didn’t even know what the target was for the day. I could lose my job if I get a certain number of write-ups.”
The company has contested the citations; the appeals are likely to take years.
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Northrop Grumman demonstrates critical
capabilities in Indo-Pacific region exercises
Northrop Grumman Corporation collaborated with the U.S. military on nine separate experiments to improve operational readiness in the Indo-Pacific region. These experiments took place during biennial military exercises conducted by U.S. Indo-Pacific Command focusing on joint training in a multi-domain environment.
Northrop Grumman regularly participates in training exercises with the U.S. military and allies to demonstrate innovative warfighting capabilities providing a definitive edge. The company participated in previous Indo-Pacific exerciseswhere various systems, including the U.S. Army’s IBCS, deployed as part of an expansive, distributed network across the area of operations.
The company previously conducted capability demonstrations at the Northern Edge 2023 exercise conducted across the Joint Pacific-Alaska Range Complex, Rim of the Pacific hosted by the U.S. Navy and Resolute Hunter hosted by the Naval Aviation Warfighting Development Center.
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Patrick Espinoza appointed to California Veterinary Medical Board
Patrick Espinoza of San Diego has been appointed to the California Veterinary Medical Board by Gov. Gavin Newsom. Espinoza has served as chief Deputy District Attorney at the San Diego County District Attorney’s Office since 2021 and has served in positions there since 1995, including Division Chief, Team Leader and Deputy District Attorney. Espinoza is a member of the San Diego County Bar Association, La Raza Lawyers Association and the California District Attorneys Association. He earned a Bachelor of Arts degree in Political Science from Stanford University and a Juris Doctor degree from the University of California, Los Angeles School of Law. This position does not require Senate confirmation and the compensation is $100 per diem. Espinoza is a Democrat.
Martin Armstrong appointed to California Landscape Architects Technical Committee
Martin Armstrong of San Diego has been appointed to the California Landscape Architects Technical Committee by Gov. Gavin Newsom. Armstrong has been owner and studio director of landARCH six-19 since 2023. He was senior associate at GroundLevel Landscape Architecture from 2022 to 2023. Armstrong was enior project manager, Regional Landscape Architecture and Urban Design Team Leader of Mark Thomas Co. from 2020 to 2022 and practice builder and landscape architect at Kimley-Horn Associates from 2018 to 2020. Armstrong is a member of the American Society of Landscape Architects. He earned a Bachelor of Arts degree in Landscape Architecture from California Polytechnic State University, San Luis Obispo. This position does not require Senate confirmation and the compensation is $100 per diem. Armstrong is a Democrat.
Dr. Wilma Wooten, face of county COVID response, to retire
By Debbie Sklar | Times of San Diego
Dr. Wilma Wooten, San Diego County’s public health officer and the face of the county’s COVID-19 response, announced her retirement Tuesday following 23 years of service.
Of that time, 17 years were spent as the county’s lead doctor.
“During her career, Dr. Wooten has prioritized the prevention and control of infectious disease, protection from environmental hazards and promoted injury prevention,” county officials said in a statement. “She has reinforced healthy choices and lifestyles, emergency preparedness and has fought to eliminate health disparities in traditionally underserved communities.”
In May, Wooten was honored by the California Department of Public Health with its highest recognition — the Beverlee A. Myers Award for Excellence in Public Health, presented annually for outstanding leadership and dedication to all aspects of public health.
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City Council rejects Power SD’s ballot measure
On June 12th, San Diego City Council members unanimously rejected the Power San Diego ballot measure, which sought authorization for the city to purchase and operate SDG&E’s electric distribution system. Council President Pro Tem Joe LaCava emphasized the need to see the complete results of the city’s municipalization study before deciding on any measures to present to voters. The city announced that phase two of the study will delve into the operational aspects of a public power utility and provide more detailed cost estimates. Bill Powers, chair of the Power San Diego campaign, acknowledged that the outcome of the City Council’s vote was expected. However, he affirmed their commitment to continuing the promotion of municipalization as an option for San Diego.
Mayor signs $5.82 billion city budget with 12 percent increase over last year
On Friday, San Diego Mayor Todd Gloria officially signed the $5.82 billion budget into law, following the City Council’s unanimous approval earlier in the week. The budget includes revisions from the original March proposal, addressing concerns about cuts to equity programs, police and fire academies, and some parks and libraries. On Tuesday, additional items were added, including $8.4 million in general fund expenditure modifications such as $3 million for the city’s community equity fund for January 2022 flood victims and $1 million for a youth care and development program. The “Protecting Our Progress” budget features a roughly $28 million increase in funding for homelessness services, allowing the city to follow through on its plans to create new shelters and spaces for homeless residents. This budget comes as the city faces a $172 million deficit in the wake of the COVID-19 pandemic.
San Diego FC expands store Eighteen Threads in Mission Valley
On Saturday, June 22 at 3 p.m., San Diego FC will open the doors to their newly renovated and expanded official store, Eighteen Threads, in Mission Valley Mall. Growing from 1,900 to 5,500 square feet, the store offers a unique immersive experience featuring a state-of-the-art soccer simulator, a gamers’ lounge, and a customization station in partnership with Avery Denison for personalized merchandise. As the official store of San Diego FC, Eighteen Threads will offer merchandise, including exclusive in-store items, and serve as a gathering spot for fans before matches at nearby Snapdragon Stadium.
VIIA unveils fresh new website and rebrand for the modern cannabis consumer
VIIA, a leading force in the cannabis industry, is excited to announce the launch of its new website and reimagined brand identity across all touchpoints. These changes reflect the company’s commitment to evolving alongside the modern cannabis consumer, offering a simpler, more curated experience for its growing customer base. The new look and feel of VIIA is closely aligned with its dedication to clean ingredients, everyday wellness, and intentional cannabis consumption. Everything from the logo to the product packaging has been refreshed and modernized.
Stellar Solar installs solar panel system for Southwestern Yacht Club
Stellar Solar, one of the most experienced commercial and residential solar and battery installers in Southern California and Michigan since 1998, and consistent winner of the San Diego Union Tribune Readers Poll in the category of Best Solar Company, recently designed and installed an impressive 100kW solar panel system for the Southwestern Yacht Club in San Diego. Consisting of 186 panels, the system will offset 40 percent of the Yacht Club’s electric consumption, producing 154 MW hours annually, resulting in significant cost savings.
Alaska Airlines unveils new state-of-the art location at Harvey Milk terminal
Alaska Airlines began welcoming guests to a new and cutting-edge space in San Francisco International Harvey Milk Terminal 1 following a two-year relocation project from Terminal 2. This multimillion-dollar investment allows us to deliver a premium and enhanced guest experience at SFO as the largest carrier at Harvey Milk Terminal 1. “Our new home in San Francisco International Airport’s Harvey Milk Terminal 1 delivers a world class experience that our guests will love while supporting our goals of innovation, sustainability and long-term growth,” said Shane Jones, senior vice president of fleet and real estate at Alaska Airlines.
San Diego-based TaxGlobal.com offers a marketplace with AI-powered relief for businesses
For many business owners, tax seaso isn’t just a headache – it’s a full-blown migraine which lasts throughout the year. But a new technology company, TaxGlobal.com, is aiming to change the game with a one-stop-shop, AI-powered platform designed to connect business owners to accountants in the TaxGlobal marketplace, providing a unified user experience between you and your accountant on the platform. “The complexity of tax codes and the constant updates create a huge burden for business owners, as taxes are your biggest expense in any business. Finding an accountant who is a good-fit and can do your tax work and more can be challenging,” says Sanjay Popat, Founder + CEO of TaxGlobal.com.
Rubio’s and the Colapinto Brothers launch Breakfast Burrito at Rubio’s
Rubio’s is collaborating with two of the country’s top professional surfers, Griffin and Crosby Colapinto, to launch an exclusive new menu item, the “All-World Breakfast Burrito.” Partnering with Rubio’s culinary team, the brothers created the ultimate meal to refuel after surfing. Packed with 47 grams of protein, their burrito features eggs, bacon, fresh guacamole, french fries, salsa fresca, and Rubio’s signature chipotle white sauce, all wrapped in a warm flour tortilla with toasted cheese. Starting June 19 for a limited time, the breakfast burrito is available all day at Rubio’s locations across Southern California, Arizona and Las Vegas.
San Diego Rescue Mission opens new homeless center, South County Lighthouse
The San Diego Rescue Mission celebrated the grand opening of its third low-barrier center in San Diego County. The South County Lighthouse, located in National City, is a new referral-only, 162-bed shelter providing individuals with a safe place to sleep, as well as hot meals, clothing, access to showers, laundry, and wrap-around services. Guests will also receive weekly case management sessions to identify options for rehabilitation and stable housing. The South County Lighthouse is the first permanent, 30-day homeless emergency shelter in National City and will serve men, women and families.
Western wear brand Tecovas to open store in Fashion Valley
Leading Western wear brand Tecovas is opening their first San Diego location on Friday, June 21. Located at Southern California’s trendiest shopping destination, Fashion Valley open-air shopping mall, the 3,523 square foot store will be open Monday-Saturday from 10 a.m.-9 p.m. and Sunday from 11 a.m.-7 p.m. Tecovas is excited to be expanding in California; the San Diego store will be the second location in the state for the Austin based brand. Founded in 2015, Tecovas has become a leader in the Western space, with 34 stores that bring Tecovas’ “radical hospitality” in reimagining the boot-buying experience entirely, which traditionally is intimidating, cluttered, and unrefined.
The Tecovas store design is unique to immerse customers in the spirit of the West, and make the shopping experience warm and inviting, as year-round customers are welcome to grab a complimentary drink from the bar while checking out handcrafted boots.
Aerofund Financial Plaza in Mission Valley sold for $9.8 million
Cushman & Wakefield announced the firm has brokered the sale of Aerofund Financial Plaza, a 48,571-square-foot multi-tenant office building on over ±1.3 acres in Mission Valley. Located at 4025 Camino del Rio S, the three-story, u-shaped building was 100 percent leased to nine tenants across a diversified mix of industries and sizes. The property was acquired by CES Remington, LLC, based near Chicago, for $9.8 million. Jeffrey Cole, Nico Napolitano, Mark Avilla, and Brooks Campbell of Cushman & Wakefield’s Capital Markets and Private Capital groups in Southern California collaborated to represent the seller in the transaction. The buyer was represented by Brandon Keith of Voit Real Estate Services.
