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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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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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Network Hardware Resale becomes Curvature as strategy shifts

By   /  Friday, July 18th, 2014  /  South Coast, Technology, Top Stories, Tri-County Economy  /  No Comments

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Network Hardware Resale has changed its name to Curvature. The change comes as one of Goleta’s biggest employers shifts its focus away from selling used gear and toward becoming a technology consulting firm.

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Santa Maria, remixed: City looks for winning formula

By   /  Friday, July 18th, 2014  /  Central Coast, Real Estate, Top Stories, Tri-County Economy  /  No Comments

Santa Barbara County’s largest city is counting on projects such as a new 14-screen Edwards Theatres to give its downtown district a new look for the 21st Century. (Nik Blaskovich / Business Times photo)

A year after Santa Maria got a new theater complex and a Fallas Discount Store moved into the space formerly occupied by a Mervyn’s department store, city leaders are still scratching their heads over how best to revitalize its struggling retail core.

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Rewinding the tape: After ouster, Qualstar consolidates in Simi Valley

By   /  Friday, July 18th, 2014  /  East Ventura County, Technology, Top Stories, Tri-County Economy  /  No Comments

A year ago, the management team at Simi Valley-based Qualstar was ousted by Florida-based BKF Capital, which vowed to cut costs and executive compensation while expanding international sales.  (Stephen Nellis / Business Times photo)

One year after outside investors ousted Simi Valley-based Qualstar’s management and installed a new team, the company has reduced expenses and is working towards profitability.

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Chumash winemaker brings European training to tribe’s new enterprise

By   /  Friday, July 18th, 2014  /  Central Coast, Top Stories, Tourism, Tri-County Economy, Wine & Viticulture  /  No Comments

Tara Gomez of the Santa Ynez Band of Chumash Indians is the country’s only Native American winemaker. (Tom Bronzini / Business Times photo)

The nation’s only Native American winemaker is a young woman from the Santa Ynez Band of Chumash Indians who was ready for the challenge when the tribe entered the wine business.

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