Business bank scrambles to get capital
Banks large and small are feeling the pinch from the real estate downturn, and regulatory agencies have started asking banks to step up and amass more capital. While that may be relatively easy for some of the area’s big institutions, smaller community banks are handling the process differently. In Oxnard, Ventura County Business Bank President Read More →
Stimulus funds flood Tri-Counties
Funding from the American Recovery and Reinvestment Act — the federal stimulus bill — are starting to percolate into the Tri-Counties, with millions of dollars allocated to infrastructure and job training programs. • Congresswoman Lois Capps (D-Santa Barbara), said that the Bureau of Reclamation will make available $20 million in federal economic recovery funding Read More →
Amgen stock rises
Thousand Oaks-based Amgen’s stock price rose the most in four years July 8 after the company reported its lead experimental product, a bone strengthening medicine, worked better than a potential rival in a study, Bloomberg News reported. Shares surged $8.16, or 16 percent, to $60.39 at 9:44 a.m. in Nasdaq Stock Market composite trading. Read More →
Frozen yogurt heats up as economy melts down
Stroll along State Street in Santa Barbara and you’ll find them dotted around town like candy sprinkles. There’s Yogurtland, Red Mango, Rock’n Yogurt and Pinkberry — to name a few. In Ventura and Oxnard, there’s Yogurberry, Tutti Frutti, Golden Swirl and U Yogurt, and up in San Luis Obispo, Bali’s and Yogurt Creations are just Read More →
Downtowns face reality
Tri-counties downtown organizations are ramping up their efforts to help merchants navigate choppy economic waters. And Oxnard, the region’s largest city, has a new leader to drive downtown economic development. Abel Magaña is the new executive director for the Oxnard Downtown Management District, a business improvement district. He comes on as the Economic Development Corp. Read More →
Banking: New rules for a new game
More than a decade ago, a pair of expansion-minded competitors, Mid-State Bank & Trust and Pacific Capital Bancorp, parent of Santa Barbara Bank & Trust, rewrote the rules for the banking game. • Simpler structures will be the name of the game. Bank of America is selling off First Republic, a longtime player in South Read More →
