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Phoenix Business Journal
ASU's Dillingham dismisses skeptics who predict poor Big 12 finish
LAS VEGAS – In its second year under coach Kenny Dillingham, the Arizona State football team looks to continue building a culture, even while it adapts to a new conference, the Big 12.<\p> Dillingham participated in the Sun Devils’ first Big 12 Football Media Day at Allegiant Stadium on July 9 along with four of his players: defensive back Xavion Alford, offensive lineman Leif Fautanu, running back Cameron Skattebo and defensive lineman Clayton Smith.<\p>
‘Something to prove’: ASU men’s basketball rebuilds for Big 12
TEMPE – After a disappointing 2023-24 campaign, ASU men’s basketball is looking to the future. The Sun Devils have utilized the transfer portal ahead of the 2024-25 season and acquired a trio of four- and five-star commits that could make the Sun Devils a formidable force in their Big 12 Conference debut.<\p> The buzz around the Tempe campus centers on five-star commit Jayden Quaintance. The 6-foot-9 center, who played at Word of God Christian Academy (Raleigh, North Carolina), was a top prospect for schools like the University of Kentucky and Florida. However, the top center in the 2024 class chose the desert as his new home with coach Bobby Hurley taking the reins of his highly skilled rim control.<\p>
These Valley grocery stores would be sold in Kroger-Albertsons merger
Just over six dozen Safeway and Albertsons stores in the Phoenix metro are on a list of 101 Arizona locations set to be divested under the pending Kroger-Albertsons merger.<\p> The 73 Valley stores, which would be divested to New Hampshire-based C&S Wholesale Grocers, and the total in Arizona is a substantial increase from what was originally set at 24 grocery stores in the Valley. The previous deal was to sell 413 stores nationwide, but in April Kroger announced it had bumped that number up to 579 stores. <\p>
White House opens competition for advanced chip packaging RD
The U.S. Department of Commerce is launching a federal funding competition for research and development related to semiconductor chip advanced packaging.<\p> The Department of Commerce plans to invest $1.6 billion in project proposals across five areas of research and development: equipment, tools, processes and process integration; power delivery and thermal management; connector technology; chiplets ecosystem and co-design/electronic design automation.<\p>
How Arizona farmers are going solar
WASHINGTON – For 31 straight days last summer, temperatures in Phoenix hit or topped 110 degrees, the longest such streak ever. That searing Arizona heat dehydrates crops and evaporates water the state needs to conserve.<\p> Creating shade is one way to combat the problem.<\p>
Troon acquires caddie tech and management company, adding to busy year
Scottsdale-based Troon, an international golf and hospitality management company, is making another major acquisition to boost its caddie services division.<\p> Troon announced on July 8 that it has acquired Lincoln-based CaddieNow, which allows Troon to offer caddie services and solutions to private clubs, public courses and resorts based on a property’s needs. CaddieNow’s caddie management solutions and programs are added to Troon’s family, which now includes 15 different brands. <\p>
Mortgage lender to cut 73 East Valley workers
Pennsylvania-based Newrez LLC has notified the state of Arizona that it intends to lay off 73 workers at its Tempe facility.<\p> This move follows other Worker Adjustment and Retraining Notification, or WARN letters, filed in Colorado and Florida to acknowledge layoffs in those states. Newrez has now laid off 569 employees in Arizona, Colorado and Florida between May 2024 to August 2024, according to WARNTracker.com.<\p>
Dutch Bros signs huge East Valley office lease
Dutch Bros Inc. has found its home for a corporate office in Arizona. <\p> Dutch Bros (NYSE: BROS), which is based in Grants Pass, Oregon, has signed a full-building lease at Liberty Center at Rio Salado — a business park in Tempe — according to industry sources and multiple second quarter office market reports by brokerage firms with a presence in Phoenix. Dutch Bros will occupy 136,426 square feet at 1930 W. Rio Salado Pkwy, in the same building that was once home to the headquarters of Tempe-based online car retailer Carvana Co.<\p>
Want remote work? Law firm has launched national hiring program
As American workers are increasingly being lured back into offices, a Phoenix law firm is leaning into remote work. <\p> Fennemore, which was founded in Arizona in 1885, launched its new Fennemore Forward campaign July 9 with the goal of enticing remote workers from across the country to join the firm.<\p>
Why residential real estate agents have it bad in Phoenix
Phoenix is the 8th worst city for residential real estate agents in the nation, according to a study by data firm Clever Real Estate.<\p> Making an annual salary of $48,640, a Phoenix agent's commission averages about 2.69%, which is about $12,395 on a typical home sale, according to the report. A buyer's agent commission is 2.75%, which is about $12,672 on a typical home sale in Phoenix.<\p>
Phoenix offers cash for restaurants to reduce food waste
The city of Phoenix is giving away thousands of dollars to downtown restaurants to help them reduce food waste.<\p> The city’s Office of Environmental Programs is expanding it Project Reduce Program to a second phase, making microgrants of up to $2,000 available to restaurants in downtown Phoenix to implement simple, convenient and innovative food waste prevention solutions.<\p>
Cloud and Copper’s hometown grit reshaping Mercury's culture
LOS ANGELES – Kahleah Copper held on to Natasha Cloud’s arm, bowed her head and shared a laugh with her teammate Sunday as they arrived at Crypto.com Arena and approached the visiting locker room. It’s a common off-the-court moment for the two Phoenix Mercury guards. But joy soon turned to aggression on the court, and the ”Philly Sisters” served the Los Angeles Sparks a “Philly Special.”<\p> Copper and Cloud combined for 56 points on 51.5% from the field to lead the Mercury to an 84-78 victory over the Sparks, despite the absence of Diana Taurasi due to a leg injury. Cloud led the team with a career-high 31 points and added nine rebounds, five assists, two steals and two blocks in a stellar all-around performance. Copper finished with 25 points, 10 rebounds and five assists.<\p>
Lucid shares pop on strong EV deliveries
A short statement issued Monday by electric vehicle maker Lucid Group Inc. had a big impact on its share price, which gained nearly 8%.<\p> Newark, California-based Lucid Group (Nasdaq: LCID), which produces its Lucid Air luxury electric sedans at a plant south of Phoenix in Casa Grande, said it produced 2,110 vehicles during the quarter and delivered 2,394 EVs during the three months ending on June 30.<\p>
CopperPoint Insurance names CEO as board chair
CopperPoint Insurance Companies, a multistate commercial insurance company headquartered in Phoenix, said Monday that Marc Schmittlein, the firm's president and CEO, will succeed Ken Kirk as executive chairman of the board of directors.<\p> Schmittlein was elected as executive chair at the company’s June 25-26 board meeting. He joined CopperPoint as CEO in 2016. Since that time he has overseen an organizational transformation, taking the company from $255 million in gross written premiums and $3.6 billion in total assets in 2016 to $715 million in gross written premiums and $5.2 billion in total assets in 2023. <\p>
Phoenix is one of the nation's super-commuting hot spots
With hybrid work potentially here to stay, super-commutes of over 75 miles have grown 32% among the nation’s top 10 metro areas, with Washington D.C. posting 100% gains to lead the way.<\p> Phoenix has seen a 57% increase in super-commuters in recent years, enough to give the Valley the third-highest rate among the nation's largest cities. <\p>
East Valley city to review Dallas data center developer's plans
More than six years after acquiring nearly 70 acres of southeast Mesa land, CyrusOne is set to have its plans for a data center campus considered by the city.<\p> Mesa's design review board will hear a proposal on July 9 for Dallas-based CyrusOne's five-building campus that would bring more than 1.4 million square feet of new data center development online near the intersection of Elliot and Ellsworth roads. Each of the buildings would be two stories apiece and span 290,023 square feet, according to drawings submitted to the city of Mesa. <\p>
My View: Leaving a lasting legacy on the State Bar of Arizona
The State Bar of Arizona made history in June 2023 when unanimously electing me as the first Black president in the 91-year history of the organization. With a one-year term, we had a lot of work to do in a short amount of time and it was my goal to make lasting changes.<\p> The president of the State Bar is tasked with overseeing Arizona attorneys and judges, implementing new initiatives and ensuring the judicial system is honest and fair for everyone.<\p>
Infill project proposed for long-vacant site near airport
Baker Development Corp. is looking to add to its Phoenix portfolio with a business park on a prime infill site. <\p> The developer wants to build an approximately 130,000-square-foot development across three buildings along 24th Street and the Loop 202, just north of the Phoenix Sky Harbor International Airport. The individual buildings comprise 12,000 square feet, 46,260 square feet and 72,200 square feet, respectively. <\p>
Arizona laser company's expansion includes a 'Battle Lab'
A Tucson-based company that develops laser and optical technology is expanding at the University of Arizona’s UA Tech Park, where it plans to create a new lab and expand its manufacturing capacity.<\p> Applied Energetics (OTCQB:AERG) leased 5,000 square feet of additional space at the UA of Tech Park to establish a "Battle Lab," allowing the company to conduct laser system testing and demonstrations. The facility will also provide more capacity to manufacture advanced lasers, according to a company release.<\p>
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