Port's Maritime Losses
For most of its 46-year history, the Port of San Diego's marine operations has run at a loss of about $80 million. Port officials say maritime has made money for the past three years. But critics say that profit is the result of an accounting maneuver. Since 2004, the port has transferred millions of dollars in real estate revenue into maritime. Port Chief Financial Officer Jeff McEntee defends the transfers and says the leases are for businesses connected to maritime.