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San Diego Business Law Blog

Citigroup looking to sell 50 California branches

As one of the largest companies in the financial sector, anytime Citigroup makes a move, it is sure to grab attention from one side of the world to the next. The company is currently seeking bidders for approximately 50 branches located in California. With holdings of $3 billion, this is big news for the third largest lender in the United States.

Those close to the situation have noted that the offices are located in rural areas spanning from Los Angeles to Sacramento and that a sale price could reach $100 million or more.

California community agency regroups after dissolution

More than a year after the Long Beach Redevelopment Agency shuttered its doors, local community groups are still trying to make a go of it without the infusions of tax dollars into its projects.

The dissolution of the RDA had a definite effect on the three Project Area Committees made up of involved residents who served the central, west and north geographic areas and served as an approval board for proposed projects.

Business sales up and down throughout California

Every year throughout the state of California, hundreds of businesses are sold. There are many reasons for the sale of a company, and with so many opportunities in the state, it is only natural for some level of turnover every year.

According to a recent report by the BizBen Index, which collects information related to the sale of small and medium sized companies, sales in Fresno County, California, took a dive during the month of March. At the same time, activity in Tulare County picked up quite a bit.

California lobbyists try to sway legislators on tech issues

Recently, Washington, D.C. played host to Silicon Valley representatives hoping to see some patent reform legislation get passed with bipartisan congressional support.

Patent lawsuits continue to be the focus of the lobbying group that organized the visit. Both small and large tech corporations have the same concerns -- net neutrality, copyrights, patent reform and cybersecurity.

Business planning will always be a big part of success

It does not matter if you one of our California readers or live in another part of the United States, if you are interested in starting a business there are steps you need to take upfront to improve your chance of success down the road. One of the most important steps is business planning.

Despite the fact that industries change, an organization with a business plan has a much better chance of dealing with any challenge that comes its way.

California company purchases Miami Seaquarium

The Miami Seaquarium is one of the top attractions in the state of Florida, however, things are going to be changing for this tourist destination in the near future. The business was recently purchased by California-based Palace Entertainment.

There is a lot that goes into a business acquisition, especially when so much money is changing hands. According to the Seaquarium's president and general manager, negotiations with the buyer have been taking place for the past two years.

Starbucks is bringing lemon cake back

California residents who are big fans of Starbucks pastries should be happy to learn of a recent development. Their sliced lemon cake will soon be available again.

As often happens when one business entity acquires another in an acquisition or merger, some business practices and products wind up in the circular file.

Former file sharing exec ordered to pay for copyright violations

A former music sharing company's chief executive has been ordered to pay $41 million to several music publishers after being found guilty of copyright infringement. The settlement amount also included $7.5 million in punitive damages. The San Diego company, MP3tunes, submitted a bankruptcy filing in 2012.

California readers might remember when companies such as MP3tunes, MP3.com and its predecessors such as LimeWire and Napster made sharing music between individuals as easy as clicking a download button. However, music publishers such as EMI and Sony vehemently opposed the use of these sites. The publishers posited that even if the original sharer paid for the music, those that downloaded the music from the sharer did not, and that was having a negative impact on profits for the publishers as well as the artists themselves.

Nokia finding sale of a business to be complicated

It goes without saying that both Nokia and Microsoft know a thing or two about the business world, including what goes into the sale of a company. That being said, they also realize that roadblocks can pop up along the way.

Many of our California readers have been staying current with the sale of Nokia's handset business to Microsoft. While things were previously moving along as planned, Microsoft has announced that its $7.5 billion takeover is not expected to close until April.

Regulators approve AT&T acquisition of San Diego company

Mergers and acquisitions are becoming more and more frequent in the telecommunications industry as existing companies look to expand their airwave reach through targeted acquisitions rather than trying to build from scratch. These business acquisitions are complicated and lengthy processes that often require regulatory approval before they can move ahead.

On March 13, 2014, regulators approved AT&T's planned acquisition of Leap Wireless International, a San Diego firm. Leap is best known for its Cricket brand, which offers month-to-month wireless service to consumers. In the wireless communications industry, the pay-as-you-go sector is one of the most fiercely competitive, and Leap was struggling. It posted operating losses in 2013 of $225 million, compared to the $158 million operating profit it reported in 2012.

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watkins firm a professional corporation

Watkins Firm, A Professional Corporation
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