Analysts: Second half critical for PCBC
The next two quarters could be the most important in Santa Barbara-based Pacific Capital Bancorp’s history. The parent of Santa Barbara Bank & Trust and four other banking franchises on the Central Coast, Pacific Capital said July 30 that it suffered a $362 million loss in the second quarter. That news followed 300 job cuts Read More →
Hertel tells tale of ruin
Developer Ronald W. Hertel said he likely made payments for his planes, a 130-foot yacht, a horse ranch and more than a dozen mortgages from the accounts of Ventura-based R.W. Hertel & Sons. In January, a group of creditors forced R.W. Hertel & Sons into an involuntary Chapter 7 bankruptcy. Just what R.W. Hertel & Read More →
LaunchPoint looks at energy
The technology to carry America’s energy grid into the 21st century might be born behind a hamburger joint in Old Town Goleta. That’s where LaunchPoint Technologies keeps its stable of 20 engineers working on a range of projects, from a giant ring that could use electricity and magnets to fling satellites into space to tiny Read More →
Ventura OKs projects
The Ventura City Council has approved three major improvement projects, including the first phase of a multimillion-dollar plan to relocate a decaying bike path and restore the beach near Surfers Point and the Ventura County Fairgrounds. The City Council also unanimously agreed to spend $1.2 million to repave Poli Street in the downtown area and Read More →
SLO Airport gets FAA nod
San Luis Obispo County Regional Airport was honored at the Federal Aviation Administration Contract Tower Program Workshop, held July 27-29 in Washington, D.C., with more than 100 delegates representing contract tower airports, ATC contractors and government officials in attendance. The 2009 Willie F. Card award, given in memory of former FAA Contract Tower Office Manager Read More →
Special Devices emerges from bankruptcy
Special Devices, one of Moorpark’s larger employers, has emerged from bankruptcy less than eight months after filing for Chapter 11 reorganization protection, said the Ventura County Star. During the restructuring, Special Devices closed its local auto operations, which employed about 120 employees. The company consolidated the division with the company’s Arizona location, The Star reported. Read More →
UCSB
The next few months could make or break UC Santa Barbara’s new Economic Forecast Project. Currently operating with a skeleton crew, UCSB officials had hoped to hire a new executive director by early September. But now it looks like a rocky startup process might be in store for the project. When economic forecasting guru Bill Read More →
