Deal gone bad yields lawsuit
Two men who engineered the $190 million sale of Goleta-based Indigo Systems to Oregon-based FLIR Systems have sued the firms, alleging that FLIR scuttled their attempts to start a new business venture with Raytheon and seeking damages for the lost deal. The lawsuit, filed July 10 in Santa Barbara County Superior Court, is the latest Read More →
GRT gets the most out of natural gas
Santa Barbara-based Gas Reaction Technologies, or GRT, doesn’t do alchemy, but it comes pretty close. The company, founded in 1999, has invented a process that turns natural gas that otherwise would be wasted into gasoline and other useful products. The initial advances were discovered at GRT and the University of California, Santa Barbara. On July Read More →
Ventura Co. man remains in custody for alleged unlicensed money-trading
James Michael Fayed, co-owner of a Camarillo-based international gold-trading company is being held without bail as federal prosecutors pursue a charge that he operated an unlicensed money-transmitting business since April 2006 with his wife. The indictment does not mention that Fayed’s estranged wife, Pamela, 45, was stabbed to death July 28 in a Century City Read More →
Weber sues Picnic Time
Weber-Stephen Products Co., the closely held maker of Weber barbeque grills, sued a Moorpark-based wholesaler of picnic products for patent infringement. The Portagrillo portable barbeque grill sold by Picnic Time Inc., of Moorpark, infringed three U.S. patents, Weber-Stephen said in its July 24 complaint filed in Chicago federal court.
Quake causes power loss
Edison International, owner of the Southern California Edison utility, said about 5,000 customers lost power after an earthquake hit Southern California just before noon July 29. Residents in Ventura and Santa Barbara felt the 5.4 quake, but no injuries or serious damage was reported. Some Edison customers east of Los Angeles in Chino, Chino Read More →
Gap Fire contained
After almost a month of battling the inferno, officials declared the human-caused Gap fire fully contained at 6 p.m. July 28. The fire started July 1 north of Goleta in the Lizard’s Mouth area along West Camino Cielo. It burned 9,442 acres and destroyed four outbuildings, according to Los Padres National Forest officials. No injuries Read More →
