Business news for San Diego https://timesofsandiego.com/category/business/ Local News and Opinion for San Diego Tue, 28 May 2024 22:57:59 +0000 en-US hourly 1 https://timesofsandiego.com/wp-content/uploads/2021/01/cropped-TOSD-Favicon-512x512-1-100x100.png Business news for San Diego https://timesofsandiego.com/category/business/ 32 32 181130289 No Tickets Sold with All 6 Powerball Numbers — Jackpot Now $143 Million https://timesofsandiego.com/business/2024/05/28/will-you-take-a-chance-no-tickets-sold-with-all-6-powerball-lottery-numbers-jackpot-143-million/ Tue, 28 May 2024 19:01:19 +0000 https://timesofsandiego.com/?p=274069 Lottery California winnerThere were no tickets sold with all six numbers in the latest drawing of the multi-state Powerball lottery, pushing the estimated jackpot for Wednesday's drawing to $143 million.]]> Lottery California winner
Lottery California winner
FILE PHOTO: Powerball tickets are seen at a liquor store in Washington, July 19, 2023. REUTERS/Nathan Howard/File Photo

There were no tickets sold with all six numbers in the latest drawing of the multi-state Powerball lottery, pushing the estimated jackpot for Wednesday’s drawing to $143 million.

A ticket with five numbers, but missing the Powerball number, was sold in New York and is worth $1 million, according to the Multi-State Lottery Association, which conducts the game.

The numbers drawn Monday were 9, 30, 39, 49, 59 and the Powerball number was 21. The jackpot was $131 million.

The drawing was the ninth since the last time a ticket with all six numbers was sold.

The odds of matching all five numbers and the Powerball number is 1 in 292.2 million, according to the Multi-State Lottery Association. The overall chance of winning a prize is 1 in 24.9.

The Powerball game is played in 45 states, the District of Columbia, Puerto Rico and U.S. Virgin Islands.

–City News Service

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San Diego’s Bonkers Toys Has Deal for Toys Based on YouTube Sci-Fi Hit ‘Skibidi Toilet’ https://timesofsandiego.com/business/2024/05/28/san-diegos-bonkers-toys-has-deal-for-toys-based-on-youtube-sci-fi-hit-skibidi-toilet/ Tue, 28 May 2024 16:15:00 +0000 https://timesofsandiego.com/?p=273797 Toy manufacturer content creatorsSan Diego's Bonkers Toys has signed a worldwide, multi-year licensing deal with digital studio Invisible Narratives for a "Skibidi Toilet" toy line.]]> Toy manufacturer content creators
Toy manufacturer content creators
San Diego’s Bonkers Toys will create and distribute new toys based on the YouTube sensation “Skibidi Toilet.” Photo credit: Courtesy

San Diego’s Bonkers Toys has signed a worldwide, multi-year licensing deal with Invisible Narratives, the digital studio created by Hollywood power brokers.

Under the terms of the agreement, the toy company, according to a news release, will manufacture and distribute toys based on the record-setting animated YouTube series “Skibidi Toilet.”

The partnership between Bonkers Toys and Invisible Narratives, led by former Paramount and Dreamworks SKG President Adam Goodman and Chief Creative Adviser Michael Bay (director of The RockArmageddon, films in the Transformers franchise and more), will bring “Skibidi Toilet” toys to major retailers beginning this fall.

The series, created by Alexey Gerasimov (aka Boom), has amassed over 65 billion views since its debut last year.  The sci-fi series chronicles the adventures of an alliance of humanoids with TVs, cameras and speakers for heads in their fight against Skibidi toilets – toilets that aren’t just bathrooms fixtures but living, scheming entities with ambitions of their own.

“‘Skibidi Toilet’ is a pioneer of its kind, the first epically viewed narrative series with all the right ingredients to position it as the next massive franchise,” said Brian Bonnett, CEO of Bonkers Toys. “As a toy company that specializes in non-traditional content that resonates with kids, we are thrilled to work with Michael Bay, Boom and Invisible Narratives to produce toys that capture the ‘Skibidi’ experience for its millions of fans worldwide.”

The upcoming toys, according to the company, “will capture the spirit and humor of the record-setting YouTube series, translating its digital charisma into tangible icons that resonate with a broad international audience.”

Bonkers Toys has become known as a leader in YouTube and creator-based toys, serving as the first licensee for Ryan’s World, with flagship toys including the Giant Mystery Egg & Cap’n Ryan’s Mega Mystery Treasure Chest. Bonkers Toys also has partnered with other top creators, including Lankybox and Aphmau, to create best-selling toy lines.

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Case Shiller Report: San Diego Leads as Home Prices Reach Another All-Time High in March https://timesofsandiego.com/business/2024/05/28/case-shiller-report-san-diego-leads-as-home-prices-reach-another-all-time-high-in-march/ Tue, 28 May 2024 15:06:12 +0000 https://timesofsandiego.com/?p=274060 A house is for sale in Point Loma. Photo by Chris StoneWith San Diego in the lead, U.S. home prices reached another record level in March, according to the authoritative Case Shiller Index released Tuesday.]]> A house is for sale in Point Loma. Photo by Chris Stone
A house is for sale in Point Loma. Photo by Chris Stone
A contemporary home for sale in Point Loma. Photo by Chris Stone

With San Diego in the lead, U.S. home prices reached another record level in March, according to the authoritative Case Shiller Index released Tuesday.

The average U.S. home price rose 1.3% in March following a 0.7% increase in February and was up 6.5% over the past 12 months.

But in San Diego, prices were up 2.2% in March after 1.7% in February and over 11% in the past year.

“This month’s report boasts another all-time high,” says Brian D. Luke of S&P Dow Jones Indices. “We’ve witnessed records repeatedly break in both stock and housing markets over the past year.”

“San Diego stands out with an impressive 11.1% annual gain, followed closely by New York, Cleveland, and Los Angeles, indicating a strong demand for urban markets,” he said.

Prices grew slightly faster in San Francisco and Seattle than in San Diego in March, but those cities’ real estate markets has fallen further, and San Diego remains far ahead over the past 12 months.

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MarketInk: San Diego’s Greenhaus Launches Ad Campaign for ‘Visit Dallas’ https://timesofsandiego.com/business/2024/05/27/marketink-san-diegos-greenhaus-launches-ad-campaign-for-visit-dallas/ Tue, 28 May 2024 06:00:42 +0000 https://timesofsandiego.com/?p=274026 Visit Dallas videoGreenhaus, a San Diego creative marketing agency, has launched a branding platform and national advertising campaign for client Visit Dallas, a destination marketing organization for the Texas metroplex.]]> Visit Dallas video

Greenhaus, a San Diego creative marketing agency, has launched a branding platform and national advertising campaign for client Visit Dallas, a destination marketing organization for the Texas metroplex.

The mission of Visit Dallas is to promote tourism, increase business and city revenues and create and sustain jobs, a statement said.

MarketInk logo

The ad campaign, scheduled to roll-out in June and continue over the next three years, will include traditional print, broadcast, outdoor, digital placements, search and social buys, event sponsorship and activations and selected travel platform partnerships, according to Greenhaus.

Initially, over an eight-week run, seven billboards and 16 kiosks throughout Dallas will feature the campaign’s theme of “Maverick, Can-Do Spirit,” which highlights a diverse, welcoming intermingling of personalities, perspectives and passions.

Also, a 30-second TV spot features local Dallas personalities, including Arike Ogunbowale, who plays for the Dallas Wings, a women’s professional basketball team, and Cynt Marshall with the National Basketball Association’s Dallas Mavericks and the first black woman to serve as CEO of an NBA team.

Total media expenditures were not disclosed, but a Greenhaus spokesperson told Times of San Diego the national campaign features a multi-million dollar budget.

“We wanted to craft this unified destination brand to illustrate the individuality that is Dallas, transformed from the oil cowboy cliché into an emerging global power, future facing, magnetically energetic and impossible to ignore,” said Paul Whitbeck, managing partner, Greenhaus. “The creative campaign will then build upon this foundation, showcasing a destination full of homegrown tastemakers and innovators driving the concept that Dallas allows and invites everyone to experience and do whatever you need for fun and work alike.”

The national campaign is planned to reach into other markets outside of Texas, according to Whitbeck.

“While there continues to remain a strong focus on core Texas travel markets and popular drive-short-haul flight audiences, we felt the time was right to add in major metro fly markets with substantial spends and innovative city takeovers in large markets such as Chicago, Los Angeles, Miami-Fort Lauderdale, Philadelphia, Seattle-Tacoma and San Francisco, among others,” he said.

According to Greenhaus, the campaign represents the culmination of nearly two years of research, outreach and community feedback. Input came from more than 30 individual stakeholder interviews, eight national and local qualitative focus groups, three customer advisory board groups comprised of meeting professionals and three Dallas-based, brand workshops, as well as more than 1,500 individual survey responses.

“We are thrilled to work with Greenhaus to redefine Dallas and share a new destination brand with our local, regional and national audiences,” said Visit Dallas CEO Craig Davis. “Greenhaus has been an essential partner in telling the Dallas story and including all of our partners as a vital part of this process as we embark on this new journey and create what’s next.”

San Diego’s Crowe PR Adds Staff in Florida

Crowe PR, a San Diego-based integrated public relations agency with 26 employees, has announced the hiring of two team members who will remain in Florida, including Jamie Avalon of Fort Lauderdale and Alana Pulver of Delray Beach.

The agency said the two new employees based in Florida, each with five years of PR experience, will serve clients in the consumer packaged goods, apparel and spirits industries.

Avalon has experience working with food-and-beverage brands, including Dunkin, Caribou Coffee and Little Caesars. Pulver has experience with Kay Jewelers, Coca-Cola and Mars.

Veronica Correa
Veronica Correa

Also newly hired is Veronica Correa as social media manager, with five years of PR experience. Correa, who will be based in San Diego, will focus on driving digital brand growth through the creation of compelling social media strategies, a statement said.

“As Crowe PR continues to expand its services and client roster, adding these three powerhouse women is a significant asset to our team,” said Natalia Barclay, senior director of communications, Crowe PR. “Their wealth of expertise in media, social media and influencer marketing strategy will only further our capacity to create and implement effective campaigns for our clients. This strategic move reaffirms our commitment to delivering targeted solutions and measurable outcomes for our clients as we expand our team and expertise.” 

Crowe PR also announced the promotion of four employees, including Cara O’Connell to media manager, Madison Garca and Grace Singh to PR manager and Angelica Olivas to integrated PR executive.

Headquartered in San Diego, Crowe PR has a second location in New York City and staff around the country

KCD Public Relations Wins Award for eBook

KCD PR, a San Diego-based, boutique public relations agency specializing in financial services, fintech and technology industries, reports it has received an Award of Distinction from the Academy of Interactive and Visual Arts for its free eBook, “Fintech PR: Strategies for Growth and Success.”

“It’s an honor to receive this award for something our entire team worked on,” said Kevin Dinino, KCD PR founder and president. “We’re thrilled to see our work recognized on such a high level. We pride ourselves on providing clients with the expertise needed for success and are happy to create this guide as a free resource for any who need it.” 

A statement said the ebook features techniques for maximizing media coverage, practical tips for crisis communications, tips for driving thought-leadership efforts and PR perspectives unique to the fintech industry. The ebook is available at kcdpr.com/fintech-ebook-download/.

(W)right On Communications Recognized by Newsweek

(W)right On Communications, a San Diego public relations firm, has announced it has been included on Newsweek magazine’s inaugural list of America’s Best PR Agencies.

The agency said the list was based on a survey of 2,400 industry professionals who identified the top 150 PR firms among more than 12,000 agencies operating in the U.S.

(W)right On also said that Newsweek noted the firm’s expertise in four categories, including: healthcare and pharmaceuticals; consumer goods, retail and fashion; internal corporate communications and employee engagement; and brand reputation and marketing.

“This achievement is a testament to the trust placed in us by our incredible client partners and the savvy and imaginative (W)right On team delivering impactful results every day,” said Grant Wright, CEO of the agency. “This recognition reaffirms our dedication to leading the way in the ever-changing communications industry.” 

Rick Griffin is a San Diego-based public relations and marketing consultant. His MarketInk column appears weekly on Mondays in Times of San Diego.

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Mall Developer Plans 850-Unit Luxury Apartment Project at Fashion Valley https://timesofsandiego.com/business/2024/05/26/mall-developer-plans-850-unit-luxury-apartment-project-at-fashion-valley/ Mon, 27 May 2024 06:30:26 +0000 https://timesofsandiego.com/?p=273891 Shopping centers Mission ValleyMall developer Simon has announced plans to develop 850 luxury apartments at Fashion Valley on the site of the JC Penny store that is closing next year.]]> Shopping centers Mission Valley
Shopping centers Mission Valley
Fashion Valley. Photo credit: @FashionValleyMall via Facebook

Mall developer Simon has announced plans to develop 850 luxury apartments at Fashion Valley on the site of the JC Penney store that is closing next year.

“We’re excited about this next phase of Fashion Valley as we continue to reinvest and add a walkable, livable lifestyle community that is intertwined with handpicked luxury brands that can only be found here,” said Mark Silvestri, president of development at Simon.

“This redevelopment marks a new era of sophistication and convenient living in San Diego,” he added.

Simon is partnering with luxury apartment developer AMLI Residential on the Mission Valley development, which will include 100,000 square feet of new retail and dining space. Work is expected to begin in 2025 and be complete by the end of 2026.

Fashion Valley has just completed a multimillion-dollar revitalization to continue to draw shoppers from greater San Diego and northern Baja.

“Due to this unique positioning and Simon’s continued reinvestment, it attracts some of the most prominent names in luxury and European fashion” said Vicki Hanor, senior executive vice president and managing director of luxury leasing for Simon.

The mall recently announced that three first-to-market luxury brands will join the lineup including Celine in 2024, and both Christian Louboutin and Fendi in 2025. 

Few details of the planned housing were released, but AMLI described it as a “dynamic living environment — a vibrant, diverse and exclusive residential enclave featuring incomparable amenities and high-end finishes.”

AMLI owns and manages 77 apartment communities, including about 26,000 apartment homes, and has over 2,900 additional units under development at seven new communities.

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San Diego County Gas Prices Continue to Drop This Memorial Day Weekend https://timesofsandiego.com/business/2024/05/26/san-diego-county-gas-prices-continue-to-drop-this-memorial-day-weekend/ Mon, 27 May 2024 05:45:33 +0000 https://timesofsandiego.com/?p=273899 Gas nozzlesThe average price of a gallon of self-serve regular gasoline in San Diego County dropped for the 26th time in the last 27 days Sunday, decreasing two-tenths of a cent to $5.107.]]> Gas nozzles
Gas nozzles
Photo courtesy of Pixabay

The average price of a gallon of self-serve regular gasoline in San Diego County dropped for the 26th time in the last 27 days Sunday, decreasing two-tenths of a cent to $5.107.

The average price has decreased 24.7 cents over the past 27 days, including 1.5 cents Saturday, according to figures from the AAA and Oil Price Information Service. It is 9 cents less than one week ago and 25.1 cents less than one month ago, but 24.7 cents more than one year ago. It has dropped $1.328 since rising to a record $6.435 on Oct. 5, 2022.

The national average price dropped six-tenths of a cent to $3.593. It is two-tenths of a cent more than one week ago, 6.7 cents less than one month ago, and 2.1 cents more than one year ago. The national average price has dropped $1.423 since rising to a record $5.016 on June 14, 2022.

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San Diego County Gas Prices Still Falling; Average Price Per Self-Serve Regular $5.10 https://timesofsandiego.com/business/2024/05/25/san-diego-county-gas-prices-still-falling-average-price-per-self-serve-regular-5-10/ Sat, 25 May 2024 22:27:06 +0000 https://timesofsandiego.com/?p=273826 Gas pumpThe average price of a gallon of self-serve regular gasoline in San Diego County dropped Saturday for the 25th time in the last 26 days, decreasing 1.5 cents to $5.109.]]> Gas pump
Gas pump
Photo credit: Alexander Nguyen

The average price of a gallon of self-serve regular gasoline in San Diego County dropped Saturday for the 25th time in the last 26 days, decreasing 1.5 cents to $5.109.

The average price has decreased 24.5 cents over the past 26 days, including 1.5 cents Friday, according to figures from the AAA and Oil Price Information Service. It is 9.3 cents less than one week ago and 25 cents lower than one month ago, but 25.8 cents more than one year ago. It has dropped $1.326 since rising to a record $6.435 on Oct. 5, 2022.

The national average price dropped 1 cent to $3.599. It is six-tenths of a cent more than one week ago, 5.9 cents lower than one month ago, and 2.5 cents more than one year ago. The national average price has dropped $1.417 since rising to a record $5.016 on June 14, 2022.

— City News Service

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Renovated North Park Apartment Building Sells for $4.35 Million https://timesofsandiego.com/business/2024/05/24/renovated-north-park-apartment-building-sells-for-4-35-million/ Fri, 24 May 2024 21:25:00 +0000 https://timesofsandiego.com/?p=273735 San Diego real estateA nine-unit urban apartment complex has been sold for $4.53 million, a real estate brokerage announced.]]> San Diego real estate
San Diego real estate
3981 Oregon St. in North Park. Photo credit: Courtesy, Marcus & Millichap

A nine-unit urban apartment complex has been sold for $4.53 million, a real estate brokerage announced.

“This was the first extensively renovated complex over five units to trade in North Park this year and set a new pricing benchmark for the submarket.” said Ben Sierpina, a senior associate in Marcus & Millichap’s San Diego Downtown office.

Sierpina and Raymond Choi, senior vice president investments, represented the sellers, Garret Reuter and Matthew Holt. The buyer, a local private investor, also was procured by Sierpina and Choi.  

The property, at 3981 Oregon St., has three two-bedroom/one-bathroom units and six one-bedroom/one-bathroom units. The previous owners embarked on a complete renovation in 2023, including plumbing and electrical systems. All units were leased with premium rents, according to the brokreage.

Marcus & Millichap (NYSE: MMI) is a commercial real estate firm specializing in investment sales, financing, research and advisory services.

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Survey Finds Small Businesses See Artificial Intelligence as Tool for Growth https://timesofsandiego.com/business/2024/05/23/survey-finds-small-businesses-see-artificial-intelligence-as-tool-for-growth/ Fri, 24 May 2024 05:45:00 +0000 https://timesofsandiego.com/?p=273491 Office groupDespite the headlines touting artificial intelligence as human replacement, most small business owners and employees surveyed by Cox Business view the technology as a tool to strengthen and grow their teams.]]> Office group
Office group
Colleagues discuss business issues in an office.

Despite the headlines touting artificial intelligence (AI) as human replacement, most small business owners and employees surveyed by Cox Business view the technology as a tool to strengthen and grow their teams.

Cox Business surveyed small business owners and employees to better understand their sentiment toward AI and how they use the technology in the workplace. Among those surveyed, 52% of small business owners said AI enables them to increase or retain employees, while 65% of small business employees said the same.

According to the survey, small business owners are increasing their AI investment to grow customer service, marketing and sales in 2024.

Enhancing the Customer Experience

Both small business owners and employees feel that they have a good grasp on what AI is and are comfortable using the tools within their organization:

  • 85% of owners are somewhat to very comfortable using AI tools in their business
  • 75% of employees are somewhat to very comfortable using AI tools in their business

Small business owners (53%) report AI had a positive impact on customer experience in 2023 and plan to use AI to support the customer experience in several ways this year:

  • 36%: Online order product/service recommendations
  • 35%: Online order placement
  • 35%: Website live chatbot
  • 33%: Customer service calls

AI Investment

One-third of small business owners invested in AI for their company last year and 53% plan to invest in AI even more in 2024.

“The data clearly shows that small- and medium-sized businesses are embracing AI,” said Mark Greatrex, president of Cox Communications. “Leveraging AI to boost productivity and enhance the customer experience empowers entrepreneurs to take their business to the next level and prosper.  With our generative AI practice at RapidScale, we are making it easier to realize the benefits faster.”

Help Wanted

Currently, 75% of small business owners say they are responsible for their company’s AI implementation and operations. Even though more owners and employees say their company did not feel much impact from last year’s IT labor shortage, 42% of owners did see an impact, having experienced decreased revenue. Employees who saw an impact experienced:

  • 43%: Added job responsibility
  • 40%: Increased stress in the workplace
  • 38%: Working longer hours

“For SMBs with limited technology resources, building AI models specific to their business can be intimidating,” said Jeff Breaux, executive vice president of Cox Business. “But the engineers at RapidScale can make Generative AI accessible and guide businesses on the right deployments to improve a variety of use cases. From building the optimal data resources to training the machine learning models, we can make Generative AI achievable for a wider set of businesses looking for a powerful new growth engine.”

For more key survey findings, visit CoxBLUE.com/SmallBizSurvey.

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Booming Bakery Business in East Village Continues https://timesofsandiego.com/business/2024/05/23/the-booming-bakery-business-in-the-east-village-continues/ Thu, 23 May 2024 19:34:19 +0000 https://timesofsandiego.com/?p=273617 Whether it's a flaky croissant, decadent cupcake, or a fresh-baked loaf of bread to take home, there's plenty of both and then some to find in San Diego's East Village.]]>
A decadent dessert from Hey Sugar! in San Diego’s East Village. Courtesy photo

Whether it’s a flaky croissant, decadent cupcake, or a fresh-baked loaf of bread to take home, there’s plenty of both and then some to find in San Diego’s East Village.

In this neighborhood lies a treasure trove of culinary delights, each offering a unique experience for those with a sweet tooth. Above all, there is an array of charming bakeries that make East Village a haven for pastry lovers and connoisseurs alike.

From quaint corner cafes to bustling patisseries, here’s a taste of what the vibrant neighborhood has to offer:

·       IZOLA – East Village bakery, IZOLA, known for its freshly baked sourdoughs and flaky croissants, will be reopening its doors beside Fault Line Park in June. Located at 1429 Island Avenue, the popular morning breakfast spot will boast an expansive heated patio that overlooks the park so hungry community members can enjoy all the freshly baked goods IZOLA is known for in the fresh air. The grand opening date will be announced soon and guests can anticipate exciting new flavor drops to celebrate the occasion.

·       ASA Bakery & Café – ASA Bakery & Cafe takes joy in introducing East Village locals and San Diego residents to the unique and inventive world of Japanese bread culture. The bakery adds an enchanting twist to the Japanese Kissaten tradition, offering a diverse selection of handcrafted breads and pastries that beautifully enhance the depth of their brews, alongside hojicha and matcha teas directly sourced from Fujioka.

·       Blackmarket Bakery – Located in the Markers Quarter,Blackmarket Bakery brings delight to every customer with its buttery baked goods, flakey croissants, freshly baked bread, and more. With a baking career spanning two decades, owner, Rachel Klemek shares her wealth of baking knowledge with the local community through a variety of baking classes each month hosted at the East Village location. To sign up, click here.

·       Café de L’Opera – Alina Ahmed, alongside her husband Hasan Ahmed, co-own Café de L’Opera, an establishment in East Village since 2008. Offering sweet delights ranging from fresh-out-the-oven house-baked croissants to savory quiches, Alina and her husband ensure that everyone who walks through those doors has a delightful experience any time of the day.

·       Hey Sugar! – Owner of Hey Sugar! and longtime East Village resident, Chan Buie, first discovered her passion for baking in the armed forces. Today, Chan runs a successful dessert distribution business out of Tavern + Bowl and busses around hundreds of her signature desserts including her famous Southern Cake Jars, banana puddings, and other desserts to hotels, restaurants, and caterers throughout the region.

·       Hinar Dessert Bar & Café – Step into Hinar Cafe and you’ll instantly be greeted by the irresistible aroma of fresh treats and pastries. Offering everything from freshly brewed coffees with homemade syrups for that extra kick in the morning to tasty dessert options to snack on in the afternoon, Hinar Café has something for everyone. The monochromatic ambiance and aesthetically pleasing atmosphere make it the perfect place for a relaxing quiet bite.

A yummy dessert from Hinar in the East Village. Courtesy photo

Next time you have a craving for something sweet you might take a drive to the diverse East Village neighborhood.

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