The three-step tax fix for California
Here’s a simple, three-step fix to California’s budget. First, cap the flat tax on individual income at 7.5 percent. Use a 10-year history to estimate what the average level of revenue will be with taxes at that level. That plus the state sales tax and other levies should really be California’s baseline for spending. It Read More →
Shout-out for a university leader
On a happier note, we’re pleased to add our own congratulations to Howie Wennes, president emeritus of California Lutheran University and recipient of the institution’s Christus Award, for bridging the gap between CLU and the communities it serves. Wennes came to the university just four years ago after a distinguished career in the Lutheran Church. Read More →
630 summer jobs created
A $1.75 million federal stimulus program created 630 jobs for young people over the summer, the Workforce Investment Board of Ventura County said in a release. The program provided work experience with Ventura County employers for youths aged 14 to 24. It ran through Sept. 30. In the program, young people worked for private, Read More →
NASA honors firm
Santa Barbara-based DKB Resources received awards from NASA and the Jet Propulsion Laboratory for services it provided to help robotic rovers search for water and signs of ancient life on Mars. The company, which provides high-end printed circuit board engineering, design layout and manufacturing support, was awarded for its “excellence in service” and participation Read More →
UCSB shutters Ventura Center for Off-Campus studies
The University of California, Santa Barbara, plans to close its Ventura Center for Off-Campus Studies, according to a release from the university. Campus officials said financial considerations drove the decision because UCSB cut $45 million from its budget this year after reductions in state support for the UC system. Many of the 65 students Read More →
Economist: Government needs to rein in spending
Budget deficits by the U.S. government pose the greatest risk to the stock market, the dollar and the economy, a prominent economist said Oct. 9. Speaking at California State University, Channel Islands, Sung Won Sohn, the Martin V. Smith professor of economics at the school and a former chief economist for Wells Fargo, said the Read More →
PCBC shares soar on speculation of capital infusion
Shares of Pacific Capital Bancorp, parent of Santa Barbara Bank & Trust, soared nearly 25 percent on Oct. 7, as 3 million shares, twice the normal volume, changed hands. Pacific Capital closed at $1.82 on NASDAQ, climbing 35 cents amid ongoing speculation the bank might be close to raising new capital or announcing a merger. Read More →
