Let me see if I understand this correctly. If you totally pigged out on the sub-prime mortgage scam, bought an oversized house, took a ton of cash out and then failed to make the payments, it is now the official policy of the U.S. Treasury and the FDIC that you deserve a bailout. If you Read More →
FDIC takes over Maria Vista Estates Project
The Federal Deposit Insurance Corp. will decide the fate of Maria Vista Estates, a 77-lot development near Nipomo that is in Chapter 7 bankruptcy proceedings. The FDIC became the project’s largest creditor after it shut down Los Angeles-based Security Pacific Bank on Nov. 7. Security Pacific Bank had provided two loans worth about $23.7 million Read More →
Troubles mount for papers
In another sign the region is not immune to the deep problems weighing on the daily newspaper industry, the Ventura County Star is cutting 44 jobs and the National Labor Relations Board is filing new charges against the Santa Barbara News-Press. The Star announced its latest and deepest cuts on Nov. 6. At the News-Press, Read More →
Tea Fire 100% contained; 200+ homes destroyed
SANTA BARBARA — After the destruction of 210 homes, the Mt. Calvary Monestary and parts of Westmont College, firefighters were able to contain 100 percent of the "Tea Fire" by Nov. 18. County officials put the firefighting cost at $5.7 million to date. Three people suffered burn injuries while another 22 were treated for smoke Read More →
Zhiing
Jon Ziskind knows how big the world is, and he doesn’t want people to get lost. A former professional sailor, Ziskind traveled widely to compete in the America’s Cup, sailing’s most prestigious regatta. The sport relies heavily on Global Positioning System, or GPS, technology, so when Ziskind settled down, it made sense for Read More →
Pacific Capital Bancorp gets preliminary OK for $188M
Santa Barbara-based Pacific Capital Bancorp, the Tri-Counties’ largest bank, said Nov. 6 that it has received preliminary approval for a $188 million investment from the federal government. If given final approval, the money would come from U.S. Treasury Department as part of a program introduced in October to increase the flow of financing and Read More →
