Kessler Case May Be Headed for Settlement
The city attorney is scheduled to brief city council in closed session Monday on Scott Kessler's unlawful termination suit against the City of San Diego. According to rumors, the council may be considering a settlement of the long-running case. If …
Government Panel Thumbs Down PSA Test
The government-sanctioned United States Preventive Services Task Force has reported that the P.S.A. blood test to screen for prostate cancer does not save lives and leads to more tests and treatments that cause pain, impotence and incontinence, according to a …
Illumina Shares Plunge 31.76%
Shares of biotech Illumina are down 31.76% to $27.25 this morning (Oct. 7) and pressuring some other biotechs. The maker of DNA analysis equipment expects third quarter revenue of $235 million, down sharply from analysts' expectations of $278.3 million. One …
U.S. Adds 103,000 Jobs in September; Unemployment 9.1%
The U.S. added 103,000 jobs in September, almost double what some economists had expected, and August was revised upward from zero to 57,000 jobs. The unemployment rate remained at 9.1%. However, an all-important alternative measure of unemployment, which includes discouraged …
Steve Jobs Died
Cupertino-based Apple Computer announced today (Oct. 5) that Steve Jobs, the innovator behind the iPhone, iPod, iPad, IMac and iTunes, has died after an extended illness. Jobs may go down in history with the likes of Thomas Edison. In fact, …
San Diego Tenth Most Expensive City
Kiplinger magazine is out today (Sept. 30) with lists of the most expensive and cheapest places to live in the U.S. San Diego comes in tenth on the most-expensive list. The magazine says the average home price is $555,768, so …
U.S. May Crack Down; Bridgepoint Stock Plunges
Stock of Bridgepoint Education plummeted 7.92% today (Sept. 30) to $17.44. The stock closed at $20.38 as recently as Tuesday. The government is making noises about reforming for-profit educational institutions. Yesterday, the Department of Education's Office of Inspector General identified …
Rumor: Papa Doug Buying U-T
This is strictly a rumor, but worth reporting. It goes like this: iconic local hotelier Doug (Papa Doug) Manchester is buying the U-T. I have not yet heard back from Platinum Equity, the Beverly Hills private equity group that owns …
Local Jobs Index Inches Up
The San Diego Workforce Index, compiled by the San Diego Workforce Partnership, ticked up to 84.81 in August from July's 84.44. A reading of 100 indicates full employment. The index was as low as 80 in the recent recession. An …
Carriers' U-T Case Certified as Class Action
Superior Court Judge Lisa Foster on Sept. 21 ruled that a suit by 1,300 newspaper carriers against the Union-Tribune can be certified as a class action. The carriers charge that they were misclassified as independent contractors when they were actually …
SD Home Values Gain Slightly in July
San Diego County home values inched up 0.1% in July from June, according to Standard & Poor's/Case-Shiller released this morning (Sept. 27). That compares unfavorably with a 0.9% gain for the top 20 metro areas, and is less than the …
Borrego's Problems Keep Mounting
Psst...want a golf course? Free? In late May, Encinitas-based Geyser Holdings closed escrow on the 3100-acre Montesoro housing project in Borrego Springs for a low but unannounced price. Geyser expected to sell the golf course; it didn't happen. At one …
Two More SD Specials: Ponzi, Real Estate Swindle
The U.S. Attorney's office today (Sept. 22) announced two more scams for which the county has become known. John Clement of Encinitas pleaded guilty to operating a $4.9 million Ponzi scheme. He was promising investors 1.5% to 2% per month …
Two San Diegans Make Forbes 400
Two San Diegans made the list of the 400 richest Americans published by Forbes Magazine. Money manager Charles Brandes is number 331 with an estimated wealth of $1.3 billion, even though his stock investment returns have been disappointing in recent …
Local Tourism Keeps Rising
San Diego hotel occupancy through August continues to pick up, according to the latest data from Smith Travel Research. Year-to-date through August, occupancy at local lodging places was 71.5%, up from 69.1% for the same period last year. However, San …
San Diego Named 7th Best City
Bloomberg Businessweek is out with a list of the best U.S. cities based on such criteria as the number of restaurants, bars and museums per capita; number of colleges, libraries, and professional sports teams; the income, poverty, unemployment, crime and …
Licensed Fiduciary Gets 18 Months for Fund Diversion
Teresa Laggner, a licensed fiduciary, was sentenced today (Sept. 19) to 18 months in custody and ordered to pay $471,000 in restitution for defrauding trust beneficiaries. From 2006 through early 2011, she managed bank accounts holding valuable assets for the …
San Diego Tax Revenue Sharply Down
Audit information released by the City last week reveals some surprisingly sharp declines in tax revenue. Consider, for example, transient occupancy (hotel) tax revenue for fiscal 2010, which goes from mid-year 2009 to mid-year 2010. Receipts for 2010 from that …
"Lady Catarina" Goes to Trial Tomorrow
"Lady Catarina Pietra Tourmei," with an address in Rancho Santa Fe, goes on trial tomorrow, (Monday, Sept. 19) in federal court in Manhattan. She is one of three persons charged with trying to peddle valuable goods while falsely claiming to …
La Madrid Associate Gets 51 Months
Moises Pacheco, a partner of Matthew "Beau" La Madrid, was sentenced today (Sept. 16) to 51 months in prison for, among several things, running a Ponzi scheme. Before 2005, Pacheco worked with La Madrid, his high school chum. Then Pacheco …