Entries
San Diegan Provided Insider Information, Says Department of Justice
The Department of Justice announced this morning (Dec. 16) that Walter Shimoon, 39, of San Diego has been arrested and charged with wire fraud and conspiracy in an insider trading case brought by the government. Three others, not from San …
Escondido Council Approves Ballpark -- with Reservations
The Escondido city council last night (Dec. 15) approved by 4-1 a tentative deal to shell out $50 million for a ballpark for the Padres's AAA minor league team, but councilmembers want changes before the deal is finally approved in …
Dumanis Met with Sanders to Tell Him She Wouldn't Prosecute Li Mandri, Mannino
The deposition of Mayor Jerry Sanders in the Kessler vs. San Diego suit indicates that District Attorney Bonnie Dumanis had a meeting with Sanders to tell him she would not prosecute the thoroughly-researched case against Little Italy political powerhouse Marco …
Portantino's Criminal Lawyer Talks of DA Investigation, Discussion over Charges
San Diego lawyer Marc Carlos, who represented the late Michael Portantino in the district attorney's investigation of Portantino's Gay & Lesbian Times, says that discussions of how Portantino would be charged were ongoing with the DA's office. Carlos was talking …
Vassallo Has Serious Criminal Exposure, Says His Lawyer
In a declaration filed today (Dec. 10) with U.S. District Court Judge Irma Gonzalez, attorney John Lemon, attorney for Alfred Louis "Bobby" Vassallo, said he had talked with David Brown of the Securities and Exchange Commission and Phil Halpern, assistant …
Cypress Stock Surges as Hedge Fund Ups Bid
Stock of biotech Cypress Bioscience is up 20.69% this morning (Dec. 1) to $4.90 as hedge fund Ramius LLC raised its offer for the company by 29%. The stock had already risen 16% since Ramius first offered to buy the …
NY Times Questions For-Profit Colleges' Exploitation of Veterans. Bridgepoint Criticized
Today's (Dec. 9) New York Times has a front-page story challenging how for-profit colleges exploit special benefits given veterans. San Diego-based Bridgepoint Education comes in for strong criticism. The story notes that since Congress jacked up tuition payments to veterans …
Ex-Gay Community Publisher Portantino Takes Own Life
A battle in the gay/lesbian/bisexual/transgender media ended tragically last night when Michael Portantino, owner of the now-defunct Gay and Lesbian Times, committed suicide by jumping off the Park Manor Suites. His death was confirmed to me by someone very close …
Two Plead Guilty to Insider Trading in Sequenom
Brent Cohen, a Baltimore business consultant, and his uncle, David V. Myers of Cleveland, pleaded guilty today to criminal charges of insider trading in the stock of scandal-plagued San Diego biotech Sequenom. The two face as long as five years …
Orexigen stock up 108.1% as FDA Panel OKs Weight Loss Drug
Stock of local biotech Orexigen Therapeutics is up 108.1% to $10.13 this morning (Dec. 8) as a panel of experts of the Food & Drug Administration voted 13 to 7 to approve the company's Contrave weight loss pill. The stock …
Chargers to Play 2012 in L.A., Says Columnist
T.J. Simers, sports columnist for the Los Angeles Times, says the Chargers will announce shortly after Feb. 1, 2012 that they will start the 2012 season in L.A., probably playing in the Coliseum. The eventual aim is to play at …
City to Spend $200,000 in Kessler Suit
The city council is voting today to authorize spending an amount not to exceed $200,000 in the city's defense of the wrongful termination case brought by Scott Kessler. The matter is on the consent agenda so it is all but …
La Madrid Trial Begins Feb. 8
Matthew "Beau" La Madrid and his brother, Lance La Madrid, will go on trial Feb. 8 before U.S. District Court Judge William Q. Hayes. An indictment by the U.S. Attorney's office charges the brothers, who operated out of El Cajon, …
Padres Trade Gonzalez, Say ESPN, U-T
The Padres have traded star first baseman Adrian Gonzalez to the Boston Red Sox, according to various sports media. ESPN broke the story this morning (Dec. 4) but as of 10:26 a.m. is still quoting "sources" on the deal. The …
So-Called Recovery Sputters. Unemployment Rises, Jobs Barely Up
Those expecting the national economy to spurt ahead were disappointed by today's (Dec. 3) employment news from Washington DC. Employment in November grew by only 39,000; economists had expected a gain of 155,000. The unemployment rate jumped to 9.8% from …
Local Lawyer Explains Profit in Federal Lending Program
The New York Times revealed today (Dec. 3) a list of Americans who profited from a Federal Reserve lending program launched in November of 2008 to support the market for student, auto, credit card, and small business loans. One of …
Who'll Buy LA Times? Platinum? More Likely Murdoch
Doug Page, columnist for the media news publication, News&Tech, says that Rupert Murdoch's News Corp. may be the most likely buyer of the Los Angeles Times. Thanks to Matt Potter for sending along this clip. First, new creditors are about …
Gamblers Betting on Orexigen Diet Pill. Be Careful
Stock of La Jolla-based biotech Orexigen Therapeutics is up 13.7% this morning to $5.56. As Bloomberg News points out, option traders are heavily betting that the company's developmental prescription diet pill, Contrave, may get the nod from the Food & …
Is Federal Reserve "Banker to the World?"
Bloomberg News has come out with banking numbers today (Dec. 2) that raise disquieting questions about the U.S. Federal Reserve's role in the world. The central question: is the U.S. the banker to the world? Bloomberg quotes Federal Reserve data …
Federal Pay Freeze Could Clip Almost $200 Million Annually from Local Economy
President Obama's proposed federal pay freeze could cost the local economy $108 million yearly in direct economic impact and $190.3 million annually in total economic impact, according to economist Kelly Cunningham of the National University System Institute for Policy Research. …