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North Bay Business Journal

Monday, June 2, 2014, 5:00 am

Business News: Week of June 2, 2014

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    Banking & Finance

    Redwood Credit Union, in partnership with the Sonoma County Office of Education and Santa Rosa City Schools, will offer its 11th free 16-hour financial academy for local high school students. Using the High School Financial Planning Program created by the National Endowment for Financial Education, the program includes helpful topics such as budgeting, financial planning, saving and investing, credit and debt management and other life skills related to managing money. The Summer Banking & Finance Academy (reservations 707-576-5259, redwoodcu.org/academy) will be held June 17–20 at Redwood Credit Union’s administrative offices at 3033 Cleveland Ave. in Santa Rosa. While past academies have been limited to high school juniors and seniors, eligibility has now been extended to include students entering 10th-grader at any Sonoma County high school.

    Redwood Trust (NYSE:RWT) board of directors declared a second-quarter regular dividend of 28 cents per share, payable June 30 to stockholders of record as of June 13.

    Basin Street Properties, investor and developer of commercial and mixed-use properties in the North Bay and elsewhere, signed lease with United Capital for 1,600 square feet at Shoreline Office Center in Mill Valley. United Capital, based in Newport Beach, is a fast-growing private wealth consulting firm that offers a personalized approach to investment.

    Entertainment

    Sonoma Raceway named Santa Rosa-based Friedman’s Home Improvement an official raceway sponsor — official home-improvement retailer — and founding partner of the raceway’s new Youth Education Program.

    Health Care

    North Bay Leadership Council welcomes its newest member, the Hospital Council of Northern and Central California. The council is a nonprofit hospital and health system trade association established in 1961, representing 185 hospitals in 50 of California’s 58 counties. Membership includes hospitals and health systems ranging from small rural hospitals to large urban medical centers, totaling more than 38,000 licensed beds.

    The Marin Cancer Institute at Marin General Hospital received an Accreditation With Commendation, the highest level of recognition from the American College of Surgeons’ Commission on Cancer. In exceeding all seven standards of care considered for special commendation, Marin Cancer Institute has earned Gold level designation, a qualification for the CoC’s Outstanding Achievement award. Winners will be announced in early 2015. In addition, the Marin Cancer Institute fulfilled all 27 additional standards required for Comprehensive Community Cancer Programs.

    Technology

    Canara, a San Rafael-based maker of predictive monitoring and analytics for backup power systems for datacenters, improve efficiencies and cut costs, has been recognized in Gartner’s 2014 report “Cool Vendors in Data Center Infrastructure Management, Power and Cooling.” The products are designed avoid disastrous backup failures that lead to server downtime while also dramatically improving power system performance and reducing operating expenses.

    Direct Flow Medical, a Santa Rosa-based transcatheter heart valve maker, received an investigational device exemption from the Food and Drug Administration to start the pivotal phase of the SALUS Trial. It is a prospective, nonrandomized, multicenter, core lab-adjudicated clinical trial, evaluating the Direct Flow’s Transcatheter Aortic Valve System at up to 30 sites. This technology is positioned to be the first in its class designed to treat aortic stenosis by replacing the patient’s native aortic valve, while minimizing the degree and frequency of aortic regurgitation.

    Wine

    The California Wine Grape Growers Foundation has awarded seven high school seniors $25,000 in college scholarships, locally including Juan Alonso of Napa High School. He was one of four who received a $2,000, two-year scholarship to any California community college. Mr. Alonso was born in Mexico in a town with limited water and electricity, according to the foundation. Lack of work forced his father to find employment in the U.S. and support his family back home. He is quoted as saying the scholarship is giving him the opportunity to attend college and succeed in life. He plans to attend University of California, Davis, or Napa Valley College and major in viticulture and enology. Through donations and participation by members of the California Association of Winegrape Growers, the foundation awards scholarships each year to students whose parents are vineyard employees of winegrape growers. Other awards this year were two $8,000, four-year scholarships to state universities and a $1,000 scholarship.

    The Wagner Family of Wine was named the official wine partner for the Citation Jet Pilots/Owner Pilot Association, a global organization for Cessna Citation aircraft owners and pilots. Beginning in May, Wagner Family of Wine, which includes Caymus Vineyards, will join a small number of brands, such as Jaguar and Cessna, as a “platinum” partner with the association.

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