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New Yorker faces SEC charges over Clean Diesel trades

By   /  Tuesday, July 22nd, 2014  /  Latest news, Law, Technology, Tri-County Public Companies, West Ventura County  /  No Comments

A New York investor relations executive has been charged with insider trading for using knowledge gained preparing press releases for Oxnard-based Clean Diesel Technologies for personal profit.

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Allergan to shutter Goleta facility, cut 300 jobs

By   /  Tuesday, July 22nd, 2014  /  Earnings, Health Care, Latest news, South Coast, Technology, Top Stories, Tri-County Public Companies  /  No Comments

Allergan will close its Goleta facility and eliminate about 300 positions there as part of a broader cost tightening effort as the Irvine company fends off a hostile takeover attempt. Allergan makes Botox and other cosmetic drugs and devices. The company became a major South Coast employer in 2005 when it bought breast implant maker […]

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Community West Bank COO dies

By   /  Monday, July 21st, 2014  /  Banking & Finance, Banking Industry, South Coast, Tri-County Economy  /  No Comments

Michael Phlaum, chief operating officer at Goleta-based Community West Bank, died Friday evening from complications related to a stroke, the bank said on July 21. Phlaum joined the bank in February 2012 and was promoted to COO and executive vice president in February of this year. “This is a tragic loss for me personally and […]

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Santa Clara Valley Bank to be sold in $15.3M deal

By   /  Friday, July 18th, 2014  /  Agriculture, Banking & Finance, Banking Industry, Latest news, Top Stories  /  No Comments

Santa Paula-based Santa Clara Valley Bank is being acquired by Sierra Bancorp for $15.3 million in an all-cash deal announced July 17. The Ventura County bank operates branches in Fillmore, Santa Paula and Valencia. With assets of about $127 million, the bank is the second-smallest bank headquartered in the Tri-Counties.

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PennyMac counts on family, Countrywide ties

By   /  Friday, July 18th, 2014  /  Banking & Finance, Top Stories, Tri-County Public Companies  /  No Comments

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  PennyMac, the Moorpark-based firm founded by former top brass at Countrywide Financial Corp., has inked a $550 million loan repurchasing deal with Bank of America. The deal forms a half-billion-dollar pact among three companies that have been intimately connected since shortly after Countrywide, the firm at the heart of the subprime loan meltdown, was […]

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Teledyne dives into underwater drone business with Ocean Aero deal

By   /  Friday, July 11th, 2014  /  Banking & Finance, Technology, Top Stories, Tri-County Economy, Tri-County Public Companies, West Ventura County  /  No Comments

While other companies look to the skies for drone business opportunities, Teledyne Technologies is looking to the seas. The Thousand Oaks-based conglomerate has been investing in so-called autonomous underwater vehicles that are used by oceanographers, oil and gas companies and for military missions. On July 2, Teledyne invested in a San Diego company called Ocean […]

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Strawberry grower, Heritage Oaks head to trial over loan contract

By   /  Friday, July 11th, 2014  /  Agriculture, Banking & Finance, Central Coast, Law, Top Stories, Tri-County Economy  /  No Comments

A Santa Maria strawberry grower’s lawsuit alleging that Heritage Oaks Bank’s failure to provide financing after promising to do so drove the grower into near-bankruptcy is headed to trial later this month.

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