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Scam Diego Entries for February, 2010

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Local Lead Indicators Continue Rising

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The lead indicators of the San Diego economy, compiled by Alan Gin of the University of San Diego, continued to rise in January, hitting 107.9 from 107.2 in December. Building permits, initial unemployment claims, stock prices, help-wanted advertising and the ...

Union Charges U-T Owner with Unlawful Surveillance

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Local 546-M of the Graphic Communications Conference of the Teamsters union yesterday (Feb. 24) filed a complaint with the National Labor Relations Board over activities of Platinum Equity, Beverly Hills-based owner of the Union-Tribune. According to the complaint, union members ...

Local Housing Values Up, but Pace of Gain Slowing

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San Diego County housing values rose 0.1% from November to December, according to the Standard & Poor/s Case-Shiller Home Price Index, released today (Feb. 23). Of the top 20 metro markets, San Diego was one of only four to register ...

Senturia's News Network Raises $3.18 Million

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U.S. Local News Network, parent of San Diego News Network, an online publication, has raised $3.18 million from investors, according to a recent filing with the Securities and Exchange Commission. Proceeds will be used to finance its expansion into other ...

"Healthy" Expansion? For Whom?

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The National Association for Business Economics will release today a poll of economists who say a recovery is firmly on track, although there will be no drop in unemployment below 9 percent for another year. Lynn Reaser, chief economist at ...

Journal Mentions San Diego in Chapter 9 Story

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The Wall Street Journal of today (Feb. 18) has an excellent story on Chapter 9 municipal bankruptcies. It focuses on Vallejo, which filed Chapter 9, and Harrisburg, the capital of Pennsylvania, which seems likely to file. "People believe that municipal ...

Sequenom Stock Soars on Fetal Sex Test

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Stock of biotech Sequenom jumped 16.37% to $5.26 today (Feb. 16) as the company launched its fetal test for sex determination. The company says the test is noninvasive, requiring only a blood sample from the mother, and it makes the ...

JP Morgan Will Buy Part of Sempra Trading Business Tuesday

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The Wall Street Journal is reporting today (Feb. 15) that JP Morgan Chase is expected to announce as early as tomorrow (Feb. 16) that it has agreed to pay $1.7 billion for the less juicy parts of RBS Sempra Commodities, ...

U-T Names Online Specialist as Editor

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The Union-Tribune today (Feb. 11) named Jeff Light as editor, replacing Karin Winner, who retired at the end of last year. Light has been with Freedom Communications, publisher of the Orange County Register, since 1993. He was most recently vice ...

Gin's Lead Indicators Strong in December

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The lead indicators of the San Diego economy, published monthly by Alan Gin of the University of San Diego, are looking good. The December data, published today (Feb. 11) show that all the indicators -- building permits, initial unemployment claims, ...

Isis Cholesterol Drug Disappoints; Stock Plunges

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Stock of biotech Isis Pharmaceuticals plunged 18.66% to $8.98 today (Feb. 10) as news about its experimental new cholesterol drug, mipomersen, disappointed investors. Results of a late-stage clinical trial showed that mipomersen did a good job reducing cholesterol for patients ...

Surprise: Union-Tribune Solicits Employee Suggestions

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The Union-Tribune has instituted an employee suggestion program that includes cash bonuses. Under the old Copley regime, management was militaristic; ideas came from the top down and the bottom-up approach was a no-no. Further, under the current management, the program ...

News Mixed in Unemployment Report

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The U.S. lost 20,000 jobs in January, according government statistics released this morning (Feb. 5). Economists had expected a gain of 25,000 jobs. December's job loss was raised to 150,000 from 85,000 reported earlier, although November was revised upward. In ...

Biotechs Take a Beating

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On a grim day in which the stock market plunged about 3%, local biotechs got hammered even more. Neurocrine Biosciences plummeted 7.28% to $2.17; Vical dropped 5.5% to $2.92; Amylin -5.78% to $17.29; Arena -5.63% to $3.02, Ligand -4.6% to ...

Roski Catching Flak for Political Gifts

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Money talks, but why must it nauseate? In October, Governor Arnold Schwarzenegger signed a bill clearing away legal and environmental barriers to the $800 million stadium that Los Angeles developer Ed Roski Jr. wants to build in the City of ...

Luna, Constantin Generated Controversy in San Jose

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The San Jose Mercury News on Jan. 31 reviewed the local controversies that led to Eduardo Luna and Chris Constantin winding up with juicy jobs with the City of San Diego. Luna was named San Diego internal auditor in 2007. ...

SEC Cocks an Eyebrow at Bobby Vassallo Again

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The Securities and Exchange Commission will be examining Alfred Louis "Bobby" Vassallo again. In August of 2005, the commission entered a final judgment against Vassallo, enjoining him from committing further securities fraud. He had been peddling shares of a dubious ...

League Cites Establishment in Bid for Longer "Strong Mayor" Trial Period

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The League of Women Voters will use arguments once advanced by quintessential establishment members when it asks the city council's rules committee this morning (Feb. 3) to extend the trial period on the so-called "strong mayor" concept. The corporate welfare ...

Will Leap Leap into Arms of Rejected Suitor?

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Wall Street is abuzz with rumors that Leap Wireless may go to the altar with MetroPCS Communications, a suitor it rejected a few years ago. The Wall Street Journal reports that Leap has hired Goldman Sachs to help the company ...

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