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Scam Diego Entries for October, 2009

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Memory -- er, uh -- Lapses at the Union-Tribune

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The Union-Tribune should be giving memory classes to its employees. Maybe an honesty class would help, too, but I don't want to pre-judge a case now going on in Superior Court. Background: Steve Kelley, former U-T editorial cartoonist, had once ...

Local Lead Indicators Continue Rising

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The lead indicators of the San Diego economy rose 1% in September from August, the seventh straight month of gains. The index is still lower than it was in January, however. Building permits, consumer confidence, and the national economy moved ...

San Diego Home Prices Rose in August; Values Down 38.7% from Peak

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San Diego County home values rose 1.6% between July and August, although this was worse than the 2.5% increase from June to July, according to data released this morning (Oct. 27) by Standard & Poor's/Case-Shiller. Prices dropped 8.9% from August ...

U-T Circulation Drops Sharply, but Many Dailies Do Worse

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Union-Tribune daily (Mon.-Fri.) circulation dropped to 242,705 from 269,820 for the six months ended September 2009 compared with the same six months of 2008, according to data released this morning (Oct. 26) by the Audit Bureau of Circulations. This was ...

Fabiani Quote Suggests Chargers L.A. Move May Be Done Deal

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If another NFL team occupies a new stadium under consideration in City of Industry in the Los Angeles market, "It would be financially catastrophic for the Chargers," Mark Fabiani, the team's spokesman, told Gene Cubbison of KNSD-TV yesterday (Oct. 22). ...

Burnham's "Elitist" Remark Hands Victory to Rider

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Congratulations to real estate mogul Malin Burnham for inadvertently handing opponents of a $432 million city hall a rallying cry. Yesterday (Oct. 22), the corporate welfare mendicants, San Diego Downtown Partnership, held a meeting for discussion of three projects it ...

Beware Buying Biotech on Basis of Ballyhoo

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Stock of biotech Aethlon Medical enjoyed a big ride this week on the basis of a news release touting a product, but the bloom is already off the rose. On Tuesday, the tiny company sent out a release saying that ...

Moores, Cronies to Pay about $55 Million in Peregrine Settlement

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Although all the details are not final, there is an agreement for John Moores and former board members and officers of fraud-tainted Peregrine Systems to pay roughly $55 million to victims of the swindle. The agreement was hammered out today ...

San Diego Unemployment Drops on Seasonal Factors

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The San Diego County unemployment rate dropped to 10.2% in September from a revised 10.6% in August, according to the state's Employment Development Department. However, seasonal factors played a major role. (The data are not seasonally adjusted.) For example, local ...

Fabled Borrego Springs Resort, Development May Close Nov. 30

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According to today's (Oct. 15) issue of the Borrego Sun, the Borrego Ranch Resort & Spa (formerly Casa del Zorro) and adjoining Montesoro Golf & Social Club (formerly Rams Hill) may close by November 30 if they cannot find an ...

Wall Street's Party Depends on Main Street's Misery

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Wall Street rejoiced yesterday as the Dow Jones Industrial Average once again went over 10,000. This time, however, there is a dangerous set of circumstances that could lead to social unrest. Two major factors are pushing stocks: 1. A worldwide ...

Ponzi Schemer J. David "Jerry" Dominelli Is Dead

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J. David "Jerry" Dominelli, whose multi-million dollar Ponzi scheme rocked San Diego in the 1980s, continuing into the 1990s, has died. His obituary ran in August in the Chicago Tribune, but it mentioned no details of his life. He was ...

Did Copley Sell Too Soon? Newspaper Stocks Rebound -- but Still Low

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Copley Press sold the Union-Tribune last spring for the sharply-discounted value of its real estate. At the time, everything looked gloomy for the newspaper industry. In the last three months, newspaper stocks have rebounded strongly. However, they are still far, ...

Copley Press Trying to Sell 22 Acres Adjoining Fox Hill

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Copley Press is selling nearly 22 La Jolla acres with a beautiful view of the sea. The parcel adjoins Fox Hill, a legendary home on 7 acres that was formerly occupied by the late Helen Copley. That is not included ...

Copley La Jolla Headquarters, Library for Sale

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The La Jolla headquarters of Copley Press at 7776 Ivanhoe is listed for sale for $11.5 million on LoopNet, billed to be the largest commercial real estate listing service online. The three-story building was built in 1957. It was not ...

Controversial LRAD Boosts American Technology Sales

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American Technology Corp. announced today that its revenues for the fiscal year ended Sept. 30 would be up 39%, making the second consecutive year they would rise. Sales were up 13% last year. The stock rose 3.7% to $1.70. However, ...

Judge Rules Fraud Case against AIG Can Proceed

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Judge Yvette Palazuelos of state court in Los Angeles ruled today (Oct. 8) that a fraud case against American International Group, the deeply troubled insurance company 80% owned by the federal government, can proceed to a key hearing. In a ...

In San Diego County, Fat Pensions Mean Higher Taxes

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The San Diego County Taxpayers Association released a study dated today (Oct. 8) showing that the cities in San Diego County with the biggest pension burdens are the ones raising taxes. Four of the five cities with the highest pension ...

Stock of Acadia Soars. Beware.

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Stock of San Diego biotech Acadia Pharmaceuticals has zoomed 19.39% this morning (Oct. 6) to $1.97. My advice: stay clear of this one. Acadia and its partner, Canada-based Biovail Corp., are conducting a third late-stage trial for pimavanserin, an experimental ...

Cock an Eyebrow at September Job Loss Data

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The September job loss data reported Friday morning by the federal government was bad, but realistically, it was worse. Jobs dropped 263,000 in September, much more than the expected 167,000 loss. The unemployment rate ticked up to 9.8% from 9.7%. ...

Teamsters Write U-T Advertisers Seeking Support

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The Graphic Communications Conference of the Teamsters local 432-M wrote Union-Tribune advertisers this week, seeking their support in the union's long-running effort to get a contract with the company. The letter spoke of a "situation that should cause you grave ...

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