San Diego, CA
Daily Business Report: Jan. 3, 2024, San Diego Metro Magazine
Visual Capitalist
Who Are America’s Most Popular CEOs?
What do the employees at America’s largest companies think of the leadership?
To answer that, we visualize CEO approval ratings gathered by professional social network Blind.
The results are based on a survey of 13,171 verified professionals in the U.S., conducted between Aug. 18–23, 2023. Respondents were asked if they approve or disapprove of the way their CEO is handling their job.
By far, the most popular CEO right now (according to Blind’s respondents anyway) is Nvidia’s Jensen Huang, with an astonishing 96 percent approval rating.
Huang’s numbers point to a theme in the data. Blind notes that there is a correlation between company stock performance and CEO approval rating. Nvidia’s critical role in the artificial intelligence hype train has sent shares up nearly 3x year-on-year. Their financials for the last three quarters show that profit is already up more than four-fold from last year.
Crucially, Huang also avoided layoffs that were otherwise rampant in the tech industry, helping his popularity among the staff.
In fact, the Blind survey uncovered that all of the 10 most popular CEOs, with the exception of Andrew Anag from AutoDesk, did not cut jobs in the last year.
View the infographic
The Least Popular CEOs by Employee Approval Ratings
Eric Nordstrom (Nordstrom) and David Goeckeler (Western Digital) shared the lowest approval rating possible in the poll: 0 percent. From Blind’s methodology section, this means not a single surveyed employee answered “strongly approve” or “somewhat approve” to the question.
Both companies cut nearly 200 jobs in 2023, with Nordstrom also responsible for the job losses amongst the company’s wage workers, who staffed the many retail stores the company shuttered.
Also featuring on this list of least-liked CEOs: Evan Spiegel (3 percent), who reduced Snap’s workforce by a fifth and Linda Yaccarino (4 percent), who heads X (formerly Twitter) that has been in turmoil since Elon Musk acquired the company in October, 2022.
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New California law will compensate
consumers defrauded by businesses
By Levi Sumagaysay | CalMatters
Businesses that defraud consumers sometimes pay a couple of thousand dollars in civil penalties under current California law. Or they’ll be ordered to pay millions of dollars, but close down or declare bankruptcy, leaving their victims without compensation.
A new law effective Jan. 1 will help change that: It will establish a restitution fund in the state treasury that can be used to try to fully reimburse consumers.
Assembly Bill 1366 will let the state attorney general pursue disgorgement, or repayment of ill-gotten gains, in cases where companies violate unfair competition or false advertising laws. The money recovered would go into the new fund.
“When a predatory business takes advantage of a consumer, it’s only right that the proceeds gained from illegal conduct should go towards compensating victims rather than remaining in the bank accounts of bad actors,” state Assemblymember Brian Maienschein,
a Democrat from San Diego who authored the legislation, said after the governor signed it in October.
Read more
NASA sets coverage for ULA,
Astrobotic Artemis robotic moon launch
As part of NASA’s CLPS (Commercial Lunar Payload Services) initiative and Artemis program, United Launch Alliance (ULA) and Astrobotic are targeting 2:18 a.m. EST Monday, Jan. 8, for the first commercial robotic launch to the Moon’s surface. Carrying NASA science, liftoff of ULA’s Vulcan rocket and Astrobotic’s Peregrine lunar lander will happen from Launch Complex 41 at Cape Canaveral Space Force Station in Florida.
Peregrine will land on the Moon on Friday, Feb. 23. The NASA payloads aboard the lander aim to help the agency develop capabilities needed to explore the Moon under Artemis and in advance of human missions on the lunar surface.
San Diego County Fair’s Street Banner Program announced
The San Diego County Fair is kicking off its 2024 community outreach efforts by
opening up applications for its Street Banner Program. The program is one of the more beloved activities of the community-centric San Diego County Fair, which also features myriad programs for youth, nonprofits, families, various diasporas, and others.
Cities and community organizations will have two weeks to submit an application to participate in the program this year.
During the 2023 Fair season — after a three-year Street Banner Program hiatus that was driven by the COVID-19 pandemic — more than 800 street banners were installed in 17 communities around the county, within the cities of San Diego, Chula Vista, and Lemon Grove.
Community leaders are encouraged to visit the Fair’s website and submit an online application to participate in the program no later than Monday, January 15, 2024. Photo sessions are scheduled to take place during the month of February.
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Scripps scientists study atmospheric
rivers with Hurricane Hunter flights
Hurricane Hunter flights gathering data on atmospheric rivers to improve weather forecasting led by Scripps scientists in La Jolla have resumed for the winter. Atmospheric rivers are relatively long, narrow atmospheric regions, typically several thousand kilometers long and only a few hundred kilometers wide, that transport most of the water vapor outside of the tropics. They can carry a greater flux of water than Earth’s largest river, the Amazon, and have been increasing slightly in intensity over the past century.
To better understand and forecast atmospheric rivers, “Hurrican Hunter” aircraft from the U.S. Air Force Reserve 53rd Weather Reconnaissance Squadron began flights in November over the Pacific Ocean to last through March. It is part of the Atmospheric River Reconnaissance program led by the Center for Western Weather and Water Extremes at Scripps Institution of Oceanography.
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Scripps to pay $6.8 million, rescind mandatory retirement age policy
Scripps Clinic Medical Group has agreed to pay more than $6.8 million to resolve allegations that it imposed a mandatory retirement age on physician employees. The settlement agreement stems from age and disability discrimination allegations filed with the U.S. Equal Employment Opportunity Commission. According to the EEOC, a subsequent investigation concluded there was “reasonable cause to believe that Scripps Clinic Medical Group violated the Age Discrimination in Employment Act (ADEA) and the Americans with Disabilities Act (ADA).”
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GoMacro benefits Feeding San Diego and Solutions for Change
GoMacro, known for its organic, plant-based nutrition bars, announced their continued partnership with Feeding San Diego and Solutions for Change for the eighth year in a row. As part of GoMacro’s Give Back Bar program, a percentage of annual net proceeds from the Everlasting Joy MacroBar is donated to the two nonprofit orgganizations.
Southern Border Coalition seeking nominations
The California Jobs First’s Southern Border Coalition is seeking members of the community to serve as leaders in shaping a resilient carbon-neutral economy in San Diego and Imperial counties. They will play a key role in creating an inclusive economic development plan focused on green jobs in disinvested communities. Interested parties may apply using the Sector Lead Nomination & Application form, which describes the 15 sectors as well as sector lead responsibilities.
Oceanside names new assistant chief of police
Oceanside Police announced that Capt. Taurino Valdovinos will be the department’s next assistant chief of police, replacing assistant chief Sean Marchand, who retired. Valdovinos has been with Oceanside Police for 20 years and has worked on a variety of specialized assignments, including the Gang Suppression Unit, Special Enforcement Section and the Neighborhood Police Team, according to the department.
Oceanside accepts Fish and Wildlife funds for sand dune project
The City of Oceanside has accepted a $56,876 grant from the U.S. Fish and Wildlife Service to install and monitor dunes on the backend of several northern city beaches as part of a pilot project to restore habitat and retain sand. The City Council unanimously approved the Oceanside Coastal Dune Restoration Project funds at its Dec. 20 meeting. The project will test a nature-based sand retention solution by installing dunes to help protect the shoreline from rising sea levels and coastal flooding by elevating the beach, acting as a buffer between the ocean and local infrastructure.
Carlsbad to consider increasing affordable housing minimums
The Carlsbad Housing Commission voted on Dec. 14 to recommend increasing the minimum affordability requirements for new residential developments and rezoning city-owned land to help meet the city’s state-mandated affordable housing goals. The commission’s approval sends the proposal to the City Council, which is set to review and consider the proposed changes on Jan. 30, 2024. The city is addressing the gap between planned affordable housing and actual construction by setting higher minimum affordability requirements.
County Water Authority to drop lawsuit over Rainbow, Fallbrook departures
The San Diego County Water Authority has agreed to drop its lawsuit over the proposed departure of two North County water agencies, it was announced Dec. 21. The lawsuit filed earlier this year challenged a decision by the San Diego Local Agency Formation Commission to allow the Rainbow Municipal Water District and Fallbrook Public Utility District to leave the water authority. The recent settlement allows Rainbow and Fallbrook’s water agencies to depart and includes a $25 million payment from both agencies, plus other costs and fees.
NCTD board approves Shawn Donaghy as next CEO
The North County Transit District Board of Directors unanimously approved Shawn M. Donaghy as the agency’s new CEO. Donaghy will take over for interim Executive Director Paul Ballard – who was brought on after the retirement of long-time Executive Director Matthew O. Tucker. Donaghy’s appointment follows a four-month, nationwide search by the board of directors. Most recently, Donaghy was the CEO of C-TRAN in Vancouver, Washington.
San Diego, CA
Coastal Commission ruling opens door to development of National City waterfront
National City’s Pepper Park can soon expand in size by nearly 50%, thanks to a ruling this week by the California Coastal Commission to approve the National City Balanced Plan.
The approval of the plan at the CCC’s Wednesday meeting, developed by the Port of San Diego, means that not only will the popular park have the ability to increase in size, big changes are coming for commercial, recreation and maritime uses on the National City bayfront.
“We are grateful to the California Coastal Commission for its support of the National City Balanced Plan,” said Danielle Moore, chair of the Board of Port Commissioners. “The progress we have made has been anchored in tireless collaboration with the community, business leaders and, of course, the city of National City. It’s about bringing more recreational opportunities to the bayfront while also streamlining and strengthening maritime operations, and we are eager to bring these projects to life.”
Other components of the balanced plan include:
- Realigning Marina Way to serve as the buffer area between commercial recreation and maritime uses
- The closure of Tidelands Avenue between Bay Marina Drive and West 32nd Street, and West 28th Street between Tidelands Avenue and Quay Avenue, around six acres, to increase terminal efficiency by eliminating redundancies
- The development of a recreational vehicle park, tent sites, cabins and the “ultimate development of up to two hotels with up to 365 rooms, as well as dry boat storage,” a port statement read
- A connector rail project to connect the existing rail and loop track located on the National City Marine Terminal to additional rail car storage spots at the existing Burlington Northern Santa Fe National City Yard east of the National Distribution Center
The Board of Port Commissioners must accept the CCC’s certification, then the port and city can begin the process of completing the above projects.
“I am proud of the work we have done to help create a lasting legacy for National City, the Port of San Diego, and the entire region,” said Port Commissioner GilAnthony Ungab. “Nearly a decade in the making, this plan balances the interests of the community and many other stakeholders, addresses public access, maritime, and recreation uses, and expands waterfront access in my community.”
The National City Bayfront is 273 acres of waterfront land and 167 acres of water, and includes the National City Marine Terminal, Pepper Park, Pier 32 Marina, the Aquatic Center and pieces of public art.
San Diego, CA
Gloria announces effort to add more townhomes, cottages to San Diego neighborhoods
Mayor Todd Gloria announced an initiative Wednesday intended to expand housing options in neighborhoods by integrating small-scale residences such as townhomes, rowhomes and cottages into an area’s existing character.
The Neighborhood Homes for All of Us initiative is also intended to support community land trusts — nonprofit organizations that acquire land to create permanent affordable housing.
“Since Day 1 of my administration, I have been focused on building more homes that San Diegans can actually afford — and getting them built faster,” Gloria said at a news conference Wednesday. “‘Neighborhood Homes for All of Us’ is the latest piece of that puzzle. This innovative program will break down the barriers that have gotten in the way of building the type of housing that I believe is ideal for young families and first-time homebuyers for whom the dream of homeownership has long felt out of reach.”
Around 80% of land zoned for housing in the city is restricted to single-family homes, which continue to increase in price, Gloria said. And a significant portion of new housing being built consists of apartment buildings with primarily studio and one-bedroom units, leaving working-class families fewer and fewer options for homes.
Neighborhood Homes for All of Us is intended to increase the housing supply and allow community land trusts to keep housing affordable in disadvantaged communities for low- to middle-income families.
“San Diego is an incredible place to raise a family, and more families need the opportunity to do that in San Diego’s existing, highly desirable single-family neighborhoods where their kids can learn and play in a great community,” City Planning Director Heidi Vonblum said. “But today, that comes at a price that is out of reach for too many. Integrating more options for families requires careful and thoughtful planning, with input from existing and future community members across the city, to ensure these new home opportunities for San Diego’s families are built in ways that best enhance and benefit San Diego’s amazing neighborhoods.”
The initiative will roll out in two phases. In the first phase, beginning this week and continuing through next summer, San Diegans can help determine what the neighborhoods can look like. The public will be able to see renderings showing small-scale neighborhood homes within San Diego’s existing communities, along with new regulations that “provide a clear pathway for building these homes,” according to a statement from Gloria’s office.
Phase 1 will also include an open house and ways for the community to provide feedback and concerns.
Phase 2, scheduled for the second half of 2026, will be for city staff to develop regulations allowing for the building of more neighborhood homes in a way informed by the public feedback.
The initiative is partly funded through a Regional Early Action Planning grant from the San Diego Association of Governments.
San Diego, CA
Affordable housing project for San Diego Unified teachers moves forward
The first of five affordable housing projects for San Diego Unified School District teachers was approved on Wednesday night.
The school board voted unanimously in favor of working with the developer who bid on the project at the Instructional Media Center on Cardinal Lane. The Affordable Workhouse Housing project promises 100% affordability, with 108 one-, two- and three-bedroom units, and some surface lot parking.
“It’s a practical solution to a very real problem, and it sends a message that we are committed to stability, not just for employees but for the students,” one speaker said.
Board members say the project will be fully funded by the developer, DECRO Corporation based in Culver City, and that the estimated annual rent revenue is $125,000 dollars. It is expected to increase 2.5% each year.
Some in the neighborhood are concerned.
“We are one way in and one way out. We are built in a canyon,” neighbor Callie Grear said.
“Parking here is horrible,” neighbor Paul Grear said. “Everybody is parking in front of our street. I can’t even park in front of my house.”
“The safety of our neighborhood is in jeopardy with this plan,” neighbor Patricia Torres said. “We are already overcrowded. We are asking this board to reconsider building on this site.”
Despite the pushback, board members unanimously voted in favor of moving forward with the developer on this project. Unless exempt, it will first undergo city scrutiny. There are still four other locations still on which SDUSD wants to build.
A vote for housing on those other four properties has been postponed until January so that the school board can hold a workshop and appropriately question the developers that are bidding on those projects.
In all five projects, San Diego Unified hopes to build 555 units in the next 10 years.
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