Regulators force banks to play defense
Largely innocent bystanders in the financial meltdown that gripped Wall Street a year ago, community banks have been walking around with targets on their backs. A severe crackdown by regulators, including threats to get capital ratios up, shrink loan portfolios or face seizure, has put bank executives on the defensive. “We’re getting speeding tickets for Read More →
Cabrillo Business Park breaks ground, 12 years in the making
In 1997, Bill Clinton was president, Harry Potter was introduced to the world, and the development process began on an office project in the as-yet-unincorporated city of Goleta. Now, almost 12 years later, the Cabrillo Business Park has finally broken ground. It will eventually have 956,000 square feet of space on Hollister Avenue and 42 Read More →
Ex-Amgen workers file whistleblower suits
As Thousand Oaks-based Amgen prepares to square off in court against 15 states over an alleged Medicaid kickback scheme, it’s facing two whistleblower lawsuits in Ventura County Superior Court. The complaints, which don’t appear related to the fraud alleged by the group of states, were brought by former employees who said they uncovered wrongdoing at Read More →
Sizing up the health of your insurance firm
Investing oracle Warren Buffet once said that an insurance policy is just a promise on a piece of paper, and businesses have been banking on that understanding for decades. But as losses rise and carriers go bankrupt, that business foundation could disintegrate. Since the federal government stepped in with $85 billion to prop up failing Read More →
A clear vision
Clairvoyance means the ability to see things or events that remain invisible to our normal senses. So it’s fitting that when David Hardee, head of Santa Barbara-based renewable energy developer Clairvoyant Energy, looks at a shuttered Ford Motor Co. factory in Wixom, Mich., he sees the largest renewable energy plant in the United States and Read More →
