Updated: Pacific Capital posts $61M loss, gets Treasury cooperation in Ford deal
Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, on July 27 reported a $61 million second-quarter loss and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, it now expects to complete a $500 million acquisition by Texas-based Ford Financial Read More →
SLO housing fund gets $1.5M grant
The San Luis Obispo County Housing Trust Fund announced July 20 that it will receive a $1.5 million state grant for affordable housing — though exactly when the money will come remains to be seen. The state has awarded the grant, but due to the state budget crisis, “it is not know when the … Read More →
Editorial: Don't squeeze the customers
On the list of problems that might plague a commercial business district, a fight over parking might be one of the best. After all, if the idea of charging or imposing new restrictions gets any traction, it’s because the area is attracting too many customers for all of them to park conveniently. But even if Read More →
Editorial: How the South Coast can get its own Target
Someday, there will actually be a Target store on the South Coast. It’s just too bad it won’t occur in time to help either tax-poor cities or the growing numbers of job seekers in the worst economic times since the Great Depression. In case you missed a flurry of news over the July 18 weekend, Read More →
Muscle car supplier could have region
In what may be the largest lease deal in the Tri-Counties to date this year, Dynacorn International leased 98,952 square feet of industrial space at 4030 Via Pescador in Camarillo. The seven-year lease is valued at more than $3.8 million, according to NAI Capital’s Ventura County office, which represented the lessee. Dynacorn, a wholesaler of Read More →
