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September 25, 2001
In August, home sales in Southern California surged to the
highest level in 12 years, the result of reasonable mortgage interest
rates and strong demand.
Prices were increasing at a moderate pace
and reached new highs, reports DataQuick Information
Systems.
A total of 32,386 new and resale houses and condos
were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino
and Orange counties last month.
That was up 11.9 percent from
28,944 for the month before, and up 12.7 percent from 28,739 for August
last year, reports DataQuick.
In San Diego, 5,181 homes and
condos were sold, up 8 percent from 4,798 sold in August last year. San
Diego’s median price in August was $274,000, up 15.6 percent from $237,000
the same month last year.
Last month's sales count was the highest
since June 1989 when 32,968 homes were sold. So far this year, 204,848
homes have been sold in the region, up 1.7 percent from 201,454 for the
same eight-month period last year.
"It's difficult to predict what
effect the tragedy of two weeks ago will have on home sales,” says Mike
Ela, DataQuick president. “Sales will certainly drop short term
because of uncertainty and turbulence. But there is a good chance the
market will kick back into gear because of steady demand in the region and
low mortgage interest rates."
The median price paid for a home was
$237,000 last month, a new record. That was up 1.3 percent from $234,000
for July and up 12.3 percent from $211,000 for August last
year.
The typical mortgage payment Southern California buyers
committed themselves to paying was $1,205 in August. A year ago it was
$1,185 when interest rates were higher. The all-time peak was April 1989
at $1,360, DataQuick reported.
***
Science Applications International
Corp. reports revenue of $1.54 billion for the second fiscal quarter
that ended on July 31, up 4 percent from the $1.47 billion reported in the
same quarter a year earlier.
SAIC's operating income for the second
quarter was $117.8 million, compared to $114.7 million during the same
period last year. Excluding net gains from the sale of business units,
operating income for the second quarter was $108 million compared to $84
million for the same period last year and included a restructuring charge
for a workforce reduction of 900 employees at SAIC's Telcordia
telecommunications subsidiary.
"This country's recent tragic turn
of events has been a sobering reminder of how vulnerable and fragile our
world is," says J. Robert Beyster, SAIC chairman, CEO and
president. "Words cannot adequately express the impact this surprise
attack has had on America, its allies and our fellow employees throughout
the world. We are now realizing the global effect this terrorist act has
had on our economy as well. SAIC stands ready to support our customers and
we intend to do everything we can to continue to provide the same high
level of services that we have in the past."
Consolidated net
income was $30 million in the second quarter, compared to $1.6 billion in
the same period last year.
Excluding $1.5 billion of after-tax
gain from the exchange of Network Solutions Inc. shares for shares
of Verisign Inc., prior year second quarter net income was $84
million.
The majority of the $54 million year-over-year decrease
was due to $53 million of after-tax losses on marketable securities and
other investments in the company's $1.3 billion investment
portfolio.
During the second quarter of fiscal year 2002, there
were numerous federal government contracts awarded to SAIC:
• A
team led by SAIC was awarded two major contracts by the Department of
Defense to design, develop and field the Joint Network Management
System, a joint communications planning and management system; and for
technical support services, including training, testing, fielding support
and software maintenance. The two contracts which have a total estimated
value of $75.8 million, will run simultaneously and are expected to be
completed by Oct. 16, 2008.
• An SAIC-led team won a contract from
the U.S. Army Simulation, Training and Instrumentation Command to
design and build the architecture and serve as system integrator for the
Army's One Semi-Automated Forces Objective System Program. The $4.5
million contract covers the first year, with option years running to 2005
for a total value of $38.5 million.
• The U.S. Customs
Service awarded SAIC a contract to purchase nine gamma ray-based
Railroad Vehicle and Cargo Inspection Systems. Railroad VACIS is the only
available method for safe and non-invasive inspection of loaded and moving
railroad cars.
• SAIC was one of two contractor teams selected for
the NATO Active Layered Theatre Ballistic Missile Defence Feasibility
Study. The study will examine weapons systems, firing platforms,
sensors and battle management command, control, communications and
intelligence that can be utilized to protect deployed troops or selected
NATO regions. The contract is valued at about $13.5 million.
• The
company was awarded two contracts which support the Defense Advanced
Research Projects Agency. SAIC will develop advanced prototype perception
systems for unmanned ground vehicles. The other DARPA contract awarded was
the first phase of the Robust Passive Sonar Program. Under the terms of
the agreement, DARPA hopes to develop an order of magnitude improvement
for submarine-towed array systems in the littoral Anti-Submarine Warfare
environment.
• The Florida Department of Law Enforcement
will receive assistance from an SAIC-led team to perform systems analysis
and top-level design for its new Integrated Criminal History System. The
new system will replace the current Computerized Criminal History System,
the Automated Fingerprint Identification System.
• Data Systems
& Solutions, an equally owned subsidiary by Rolls-Royce and
SAIC was awarded a contract by the U.S. Air Force to supply JetSCAN
hardware and support services for engine condition monitoring of General
Electric F110 engines in use on the F-16 fighter.
• SAIC was
selected by the U.S. Air Force Research Laboratory as one member of a team
to operate and manage the Maui Supercomputer Center in Kihei,
Hawaii. SAIC will support the MSC with program development and science and
engineering applications. During the quarter, SAIC completed the sale of
its Broadway & Seymour Group to Webtone Technologies,
based in Atlanta, Ga. Broadway & Seymour specializes in providing
financial services institutions with systems integration, consulting, and
technology-based products for enterprise customer relationship
management.
The company also expanded operations in the United
Kingdom by opening a second office in Aberdeen, Scotland.
***
Callaway Golf Co. has unveiled
the next generation of golf ball aerodynamics with the introduction of its
HX golf balls. The dimpled spheres will be available in two models -- HX
Blue and HX Red -- both featuring Callaway Golf's patented new tubular
lattice network for unparalleled aerodynamic performance.
The HX
(pronounced "hex") is the flagship of the company's premium golf ball
offerings, which also include the new CTU 30 blue and red models and the
CB1 blue and red models.
The HX ball is the first ball to highlight
the company's latest ball technology, the patented tubular lattice network
-- a criss-crossing network of tube-like projections that form hexagonal
and pentagonal patterns around the golf ball.
"Most golf balls
have dimple patterns that allow for 70 to 80 percent surface coverage,"
says Richard C. Helmstetter, senior executive v.p. of research and
development and chief of new products for Callaway. "Our CTU 30 and CB1
balls raised the bar to 86 percent surface coverage, which is a great
advantage. Now HX takes golf ball aerodynamics to a whole new level. The
patented tubular lattice network has rounded edges, eliminating the flat
areas between dimples that add drag and decrease efficiency in traditional
golf balls. That means each HX ball has essentially 100 percent coverage,
which translates into a stronger, more reliable trajectory with better
carry and roll on driver shots, plus added control over short-game shot
trajectory.”
The balls will be available in three-ball sleeves and
by the dozen. A three-ball sleeve carries a suggested retail price of
$14.50, and a dozen-ball cube has a suggested retail price of $58.
The HX Blue and Red balls are expected to ship to retail accounts
in March 2002.
***
Sempra Energy's Sempra Atlantic Gas unit has notified the
Government of Nova Scotia and the Nova Scotia Utility and Review
Board that the company intends to surrender its natural gas
distribution franchise.
The decision comes after months of detailed
consideration of whether, under the current regulatory environment, a
viable business case can be made for moving forward in Nova Scotia,
company officials say.
In June, Sempra Atlantic Gas advised the
UARB that, since receiving the franchise, actions beyond the control of
the company have had a substantial negative impact on the company's
proposed plans.
Under the terms and conditions of the franchise
agreement, this entitles the company to surrender its
franchise.
Sempra Atlantic Gas was awarded the natural gas
distribution franchise in December 1999. After two years of continued
construction delays, the company says it now has no option but to take
this action.
Sempra Energy's investment in the natural gas
distribution project to date is about $35 million. The company expects to
recover a portion of the investment. Even with a third-quarter charge for
costs expected to be unrecovered, Sempra Energy continues to project
earnings per share for 2001 of about $2.50.
***
Qualcomm Inc. and Mobens
Co., developer of CDMA test and measurement instruments, have entered
into a CDMA test equipment license agreement.
Under the terms of
the agreement, Qualcomm has granted Mobens a royalty-bearing license to
use Qualcomm's CDMA technology and patents to design and market test
equipment products for cdmaOne and third-generation applications,
including CDMA2000 1X/1xEV, TD-SCDMA and WCDMA.
Additionally,
Mobens has the ability to purchase Qualcomm's advanced chipsets and system
software solutions for use in their licensed
products.
"We are pleased to add Mobens Co.
to our growing list of licensees who recognize the significance of CDMA
technology and Qualcomm's CDMA patent portfolio for the development of
advanced wireless communications," says Marvin Blecker, senior v.p.
of technology transfer for Qualcomm. "The agreement allows Mobens Company
the opportunity to support the current CDMA market while helping to enable
the rapid deployment of 3G CDMA systems with commercial test
equipment."
***
Sony Electronics has split its FX
series into two separate VAIO PC lines, with a total of six new FX and FXA
notebook PC models.
Both lines will hit retail shelves in
October.
The new FXA series incorporates AMD processors and 15-inch
displays. All three models, the FXA36, FXA33 and FXA32 use Microsoft
Windows XP Home edition, offering advanced audio and video capabilities,
increased functionality and versatility.
The FXA36 boasts a 1GHz
AMD AthlonTM 4 processor and a CD-RW/DVD combo drive. It is expected to
sell for about $1,700 after a $100 mail-in rebate.
The FXA33 is
available with an AMD DuronTM 900MHz processor and a CD-RW/DV combo drive
for about $1, 500 after a $50 mail-in rebate.
The FXA32 features
the same AMD Duron processor and a fixed DVD drive for affordable, mobile
entertainment. It sells for about $1,400.
The FX390, FX370 and the
FX340 have mobile Pentium III processors, featuring Intel SpeedStep
technology.
Customers will have a choice of operating system on
the FX series, including Windows 2000 as well as Windows XP Home Edition
and Professional operating systems.
The FX390 features a 15-inch
display with a 30GB hard drive, 256 MB of SDRAM and is expected to sell
for $2,100 after a $100 mail-in rebate.
The FX370 also comes with
an expanded, 15-inch screen, 20GB hard drive and 256 MB of SDRAM. It's
expected to sell for $1,900 after $100 rebate.
With a 14-inch
screen, 128 MB of SDRAM and a 15 GB hard drive, the FX340 is expected to
sell for about $1,500 after a $50 mail-in
rebate.
All three new FX models come
equipped with a floppy drive and a state-of-the-art CD-RW/DVD combo drive,
so users can download and store music, create and rewrite CDs, back up
data, and watch movies on DVD -- whether at home, in the office or on the
road.
***
Wireless Knowledge Inc. is
working closely with the technology team of Equitable Distributors
Inc., a wholly owned subsidiary of New York-based AXA
Financial, dedicated to the distribution of the variable annuity and
life insurance product portfolios of The Equitable Life Assurance Society
of the United States, to develop a custom mobile application for EDI's
sales force.
The Mobile Sales Desk application enables EDI
wholesalers to access and exchange information -- such as broker records,
activity reporting, call and to-do lists, contacts and appointments --
using a wirelessly enabled Pocket PC.
EDI has equipped its field
sales staff with Compaq iPAQ 3650 handheld computers, which will run the
Mobile Sales Desk application in both online and offline mode.
“Every day, our wholesalers discuss, inform and distribute our
investment products to their clients," says Eric Jansen, EDI's CIO.
"As competition increases in the financial services sector, companies
today need to continually improve on customer care. The Mobile Sales Desk
gives our field sales staff better tools and updated data to enhance
communication with clients. Wireless Knowledge worked with the EDI
technology team to deliver a secure mobile solution that will allow us to
immediately improve order-fulfillment efficiencies and ultimately broaden
and deepen our client relationships."
"Our partnership with
EDI is a perfect demonstration of how businesses can leverage mobile
technology to enhance their market position," says Eric Schultz,
CEO of Wireless Knowledge. "With a mobile version of its Sales Desk
application, EDI can not only communicate more efficiently with existing
customers, but also attract new customers that are looking for
wireless-enabled financial services."
***
In the wake of the recent terrorist attacks,
the Grossmont-Cuyamaca Community College District Governing Board
has voted to extend military leave benefits for employees called into
active duty.
Anticipating there will be employees affected by
President Bush's activation order, governing board President
Gary Kendrick says the trustees' action means district employees'
jobs will be waiting when they return.
Also, the district will
make up the difference in pay for up to six months for those employees who
otherwise would see their incomes shrink as active-duty military
personnel.
The Sept. 18 board action also covers reservists
volunteering for active service.
“We took this action to assist
those employees who are serving our nation in this time of national
crisis," Kendrick says. "We want to show our wholehearted support of them
and their families. They are making the sacrifice of leaving their regular
jobs and their families for the sake of their country."
District
Chancellor Omero Suarez says the district also will support
students who are called into active military duty by ensuring their
college records are not negatively impacted by their absence from classes.
Student reservists who become active duty members will not be
penalized for missing classes and will be allowed to re-enroll in courses
without paying additional tuition.
Other initiatives at both
campuses include counseling and referral services following the
devastation of the Sept. 11 tragedies.
***
Gray Cary Ware & Freidenrich
LLP has more than doubled its office space in its North County
offices, originally founded in 1994.
In addition, a portion of its
attorneys will relocate from the firm's Downtown offices to North
County.
“During the last several years, many San Diego companies,
at all stages of growth, have migrated to North County and a large
majority of the most promising new companies are being established there,"
says Doug Rein, regional managing partner of Gray Cary's San Diego
offices. "Our office expansion in North County is to accommodate our
clients by bringing more of our lawyers closer to them, and to have our
lawyers close to San Diego's newest and most innovative technologies for
early-stage ventures and more established companies. The majority of
attorneys moving from downtown to North County are employment lawyers and
litigators. They join our corporate, intellectual property, tax, and
estate planning lawyers that have been in North County since
1994."
Gray Cary is a Silicon Valley-based law firm.
***
Nuffer, Smith, Tucker Inc. and
Stock/Alper & Associates plan to merge their operations Oct.
1.
The move will bring the combined fee billings to about $4
million.
The merged organization will operate under the Nuffer,
Smith, Tucker name and remain located at 3170 Fourth Ave.
“Despite
the declines we have been hearing about in the PR industry over the past
months, both agencies have continued to see steady growth, and are having
a great year,” says Bill Trumpfheller, NST president. “We really
see this merger as an opportunity to bring together the two firms under
one administrative structure to take advantage of the synergies we each
bring to the table.”
***
Rancho Santa Fe Technology Inc.,
a San Diego-based network communication service, has completed the
installation of a high-speed structured cabling system for Ward North
America's San Diego and San Antonio offices, reports Trestand
Conrique, president of Rancho Santa Fe Technology.
Conrique
says the project included the installation of Berktek/Ortronics cable and
connection solution for the company's voice and data system.
"The
professionals at Rancho Santa Fe Technology were able to work closely with
the IT departments at Ward North America's San Diego and San Antonio
office to install a state-of-the-art structured cabling system that will
simultaneously enable Ward to better service their customer base, while
providing flexibility for future growth and expansion," Conrique
says.
***
Compaq Computer Corp. has signed
a $262,000, one-year lease for 9,712 square feet of office space at 5473
Kearny Villa Road in the Seville Plaza in San Diego.
The
lessor, The Shidler Group, was represented by Don Mitchell
of CB Richard Ellis.
Compaq
represented itself.
***
Sandra Shippey, partner with the San Diego law firm
Procopio, Cory, Hargreaves & Savitch LLP, has been appointed to
the California State Bar Business Law Section's Uniform Commercial Code
Committee.
As a member of the UCC Committee, Shippey will focus
primarily on further development of commercial law in California.
Shippey and the committee also will work with other national
organizations on issues that affect the UCC. Frequently, California's
efforts in this area serve as models for other states.
"Sandy is a
gifted attorney," says Tom Turner, managing partner of Procopio.
"She has demonstrated exceptional skill and expertise. The firm is
extremely proud of her involvement on this important
committee."
Prior to joining Procopio, Shippey was
counsel to NextWave Telecom Inc.
***
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