Power-Save raises eyebrows with the SEC
San Luis Obispo-based Power-Save Energy Corp. posted some big revenue gains over the past two years, but financial observers and the Securities and Exchange Commission have criticized the firm for non-existent internal financial controls. Power-Save’s stock has also lost more than 90 percent of its value in recent months, and the firm was ordered to Read More →
Defense firms draw jobs
Defense and space contractors are adding scores of jobs and thousands of square feet of production space on the South Coast. In the midst of a down economy, the tri-county divisions of defense giants Raytheon and Alliant Techsystems, or ATK, are hiring for engineering and other high-paying positions and breaking ground on new facilities that Read More →
Plastics firm moves in on market
Paso Robles-based Lindamar Industries is angling to become one of the top suppliers of custom-made plastic bags to the California coast’s rich agriculture industry. With 70 employees and a 40,000-square-foot factory, the company cranks out nearly 1.5 million bags each day. Its core customers are agribusinesses from Salinas to Oxnard, and it supplies the kind Read More →
Tank Farm gets a makeover
By Sara Hamilton on October 18, 2009. San Luis Obispo residents may not recognize Tank Farm Road by this time next year. Chevron, owner of the vacant land on either side of the busy street, has extensive development plans for its former crude oil storage facility. The petroleum giant wants to restore the land, dedicate Read More →
Feds order Los Padres Bank to raise capital
The parent company of Solvang-based Los Padres Bank has been hit with a cease and desist order and faces a series of deadlines to raise capital. Harrington West Financial Group, which owns Los Padres and other banking operations, reported on Oct. 16 that it consented to the entry of a cease and desist order from Read More →
Dole expected to raise up to $575M in IPO
Westlake Village-based Dole Food Co. said Oct. 13 its initial public offering is expected to raise up to $575 million by selling nearly 36 million shares for between $13 and $15 each. With $7.6 billion in 2008 revenue, Dole is the largest private company in the Tri-Counties. The company was public until 2003, when owner Read More →
Breaking news: South Coast residents warned to prepare for heavy rain
Residents of Santa Barbara County’s South Coast are encouraged to prepare for heavy rain from Oct. 12 through Oct. 15 and officials have set up sandbag stations to allow area residents to protect their properties. Recent fires in the South Coast region of Santa Barbara County mean that heavy rains could result in flooding or Read More →
