Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Mayor Susan Golding invested well in pharmaceuticals

Centocor with close ties to some big San Diego biotech companies is one

Mayor Susan Golding has filed a personal financial disclosure statement showing she has invested well in the pharmaceutical business. The mayor, who's seeking the U.S. Senate seat held by Barbara Boxer, is required by Senate rules to divulge ballpark figures on her investments, but only within broad ranges. The filing shows that as of this August, Golding owned stock worth between $1000 and $15,000 in each of the following: Exxon, Lilly Industries, Merck and Co., Bristol Myers Squibb, Wrigley, and Puget Sound Energy. The mayor, who is said to appreciate good pastry, also owned between $1000 and $15,000 in cake-maker Sara Lee Corp. She reported her stake in the city retirement fund was worth between $15,000 and $50,000. Golding said a separate individual retirement account at Paine Webber was worth between $1000 and $15,000, and a Merrill Lynch "Nuveen Invt Quality" mutual fund was also valued in the same range. Golding apparently unloaded one possibly controversial holding earlier this year. Centocor, a Pennsylvania-based drug developer with close ties to some big San Diego biotech companies, is listed as providing the mayor with between $2500 and $5000 of dividend income, although no asset value is given. That probably means, according to a Senate source, that the stock was sold before the disclosure became due. City records show Golding has owned the shares since November 1991. The source couldn't explain why Golding reported she had received dividend income ranging between $5000 to $15,000 from both Wrigley and Bristol Myers on stock with a maximum value of $15,000 in each of the companies. Golding also reported getting between $2500 and $5000 each in dividends from similarly sized holdings in Burlington Northern Santa Fe and Exxon. The mayor's office did not return calls seeking comment.

Lawyer talk

Sponsored
Sponsored

Securities litigator William Lerach, a loyal and big-giving Clintonite, has lost one of his top partners to the other side. Susan Gonick has departed Lerach's San Diego law firm, Milberg Weiss Bershad Hynes & Lerach, which often sues corporations on behalf of shareholders, and joined up with Heller Ehrman White & McAuliffe, which defends corporations in such cases. Gonick, 52, did not go quietly. "I philosophically differ with some of the directions that the Milberg Weiss partnership is going," she told the Recorder, a legal newspaper. "I believe the pendulum in securities class actions has swung too far in the direction of shareholder rights." Gonick had worked with Lerach for about seven years ... Meanwhile, the Recorder reports, the battle between John Mabee and state Insurance Commissioner Charles Quackenbush over control of Mabee's Golden Eagle Insurance Co. is turning into a gold mine for some lucky lawyers. Quackenbush's outside counsel are seeking more than $5 million, while attorneys for the insurance company are requesting about $3 million. Mabee's legal team was led by Skadden, Arps. Top legal gun for Quackenbush was the firm of Orrick, Herrington & Sutcliffe. The money for both will come straight out of Golden Eagle, which Quackenbush, alleging financial irregularities, wrested away from Mabee. A judge must sign off on the final amounts.

Tidbits

With the San Diego City Council mulling whether to add treated sewage to the city's drinking water, the Pala Band of Mission Indians may have come up with a way to profit. According to the Indian Wells Water Company of Sausalito, the tribe has agreed to construction of a water-bottling plant on its reservation near Mt. Palomar, "considered one of Southern California's finest natural spring water sources," says a company press release ... While the San Diego City Council continues its legal battle against Dick Rider's effort to get a public vote on the taxpayer-backed convention center expansion bonds, closely held city documents show that the city is hedging its bets. According to a contract worth $25,000 between the city and an East Coast consultant signed late last month, the council is now secretly seeking "alternative financing structures and mechanisms" as well as "a detailed analysis...on the mechanics and risks of alternative financing structures."

Contributor: Matt Potter

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

2024 continues to impress with yellowfin much closer to San Diego than they should be

New rockfish regulations coming this week as opener approaches

Mayor Susan Golding has filed a personal financial disclosure statement showing she has invested well in the pharmaceutical business. The mayor, who's seeking the U.S. Senate seat held by Barbara Boxer, is required by Senate rules to divulge ballpark figures on her investments, but only within broad ranges. The filing shows that as of this August, Golding owned stock worth between $1000 and $15,000 in each of the following: Exxon, Lilly Industries, Merck and Co., Bristol Myers Squibb, Wrigley, and Puget Sound Energy. The mayor, who is said to appreciate good pastry, also owned between $1000 and $15,000 in cake-maker Sara Lee Corp. She reported her stake in the city retirement fund was worth between $15,000 and $50,000. Golding said a separate individual retirement account at Paine Webber was worth between $1000 and $15,000, and a Merrill Lynch "Nuveen Invt Quality" mutual fund was also valued in the same range. Golding apparently unloaded one possibly controversial holding earlier this year. Centocor, a Pennsylvania-based drug developer with close ties to some big San Diego biotech companies, is listed as providing the mayor with between $2500 and $5000 of dividend income, although no asset value is given. That probably means, according to a Senate source, that the stock was sold before the disclosure became due. City records show Golding has owned the shares since November 1991. The source couldn't explain why Golding reported she had received dividend income ranging between $5000 to $15,000 from both Wrigley and Bristol Myers on stock with a maximum value of $15,000 in each of the companies. Golding also reported getting between $2500 and $5000 each in dividends from similarly sized holdings in Burlington Northern Santa Fe and Exxon. The mayor's office did not return calls seeking comment.

Lawyer talk

Sponsored
Sponsored

Securities litigator William Lerach, a loyal and big-giving Clintonite, has lost one of his top partners to the other side. Susan Gonick has departed Lerach's San Diego law firm, Milberg Weiss Bershad Hynes & Lerach, which often sues corporations on behalf of shareholders, and joined up with Heller Ehrman White & McAuliffe, which defends corporations in such cases. Gonick, 52, did not go quietly. "I philosophically differ with some of the directions that the Milberg Weiss partnership is going," she told the Recorder, a legal newspaper. "I believe the pendulum in securities class actions has swung too far in the direction of shareholder rights." Gonick had worked with Lerach for about seven years ... Meanwhile, the Recorder reports, the battle between John Mabee and state Insurance Commissioner Charles Quackenbush over control of Mabee's Golden Eagle Insurance Co. is turning into a gold mine for some lucky lawyers. Quackenbush's outside counsel are seeking more than $5 million, while attorneys for the insurance company are requesting about $3 million. Mabee's legal team was led by Skadden, Arps. Top legal gun for Quackenbush was the firm of Orrick, Herrington & Sutcliffe. The money for both will come straight out of Golden Eagle, which Quackenbush, alleging financial irregularities, wrested away from Mabee. A judge must sign off on the final amounts.

Tidbits

With the San Diego City Council mulling whether to add treated sewage to the city's drinking water, the Pala Band of Mission Indians may have come up with a way to profit. According to the Indian Wells Water Company of Sausalito, the tribe has agreed to construction of a water-bottling plant on its reservation near Mt. Palomar, "considered one of Southern California's finest natural spring water sources," says a company press release ... While the San Diego City Council continues its legal battle against Dick Rider's effort to get a public vote on the taxpayer-backed convention center expansion bonds, closely held city documents show that the city is hedging its bets. According to a contract worth $25,000 between the city and an East Coast consultant signed late last month, the council is now secretly seeking "alternative financing structures and mechanisms" as well as "a detailed analysis...on the mechanics and risks of alternative financing structures."

Contributor: Matt Potter

Comments
Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Nation’s sexy soldiers stage protest at Pendleton in wake of change in Marine uniform policy

Semper WHY?
Next Article

Angry Pete’s goes from pop-up to drive-thru

Detroit Pizza sidles into the husk of a shuttered Taco Bell
Comments
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.