Schwarzenegger buys time while California builders raise dough
Gov. Arnold Schwarzenegger signed legislation July 15 extending the expiration for subdivision maps, giving developers a chance to wait for the housing slump to pick up before embarking on major projects. The struggling residential market, the governor’s office reported, is making it tough for builders to secure financing. In an effort to save developers from Read More →
Independent moves up in media industry
Two years ago this month, the journalistic eyes of California turned to the South Coast where the Santa Barbara News-Press melted like an ice cream cone in the summer sun. Top editors quit or were fired. Reporters and columnists fled the News-Press as if the building was on fire. Some reporters wore tape over their Read More →
American Principle reports
San Luis Obispo-based American Principle Bank, which opened in October, reported July 21 financial results for the six months ended June 30. It lost $309,000 during the second quarter of 2008, compared to a loss of $499,000 during its first quarter of the year. The second quarter loss was primarily because of $349,000 in Read More →
United Online finances
Woodland Hills-based United Online, a provider of consumer Internet and media services, announced July 17 it has received a commitment from Silicon Valley Bank to provide a $60 million senior secured term loan facility to be used by United Online to fund a portion of the cash merger consideration for its acquisition of FTD Group. Read More →
ValueClick announces
Westlake Village-based ValueClick on July 17 announced preliminary results for the second quarter ended June 30, expecting revenue between $163 and $164 million, compared to its prior guidance range of $166 million to $170 million; adjusted-EBITDA between $43 million and $43.5 million, compared to its prior guidance range of $40 million to $42 million; and Read More →
Pacific Capital reports Q2 net loss
Santa Barbara-based Pacific Capital Bancorp announced July 23 financial results for the second quarter ended June 30, showing a net of $5.9 million, or 13 cents per diluted share, compared to net income of $33.2 million, or 70 cents per diluted share, in the same period last year. The results include a provision for loan Read More →
Resting easy – Home service takes the worry out of being away
Julie Steele and Shannon Trotta couldn’t have picked a better spot to start their company, Nest Assured. Taking advantage of the largely affluent population on the South Coast, the business caters to clients who have second homes in the region or are frequent travelers. Called a home concierge service, Nest Assured manages private homes while Read More →
