TARP deal good enough for Ford
[Editor’s note: This story has been updated from an earlier version on July 27.] Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, reported a $61 million second-quarter loss on July 27 and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, Read More →
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 →
Parking battle heats up at Ventura Harbor
At Andria’s Seafood Restaurant and Market in the Ventura Harbor, there’s been an odd quirk in the business this summer: Sales are down by about 10 percent, but not all the time. Manager Frederico Castro said it’s only happening on weekends, and only during the daytime — in other words, only during hours that customers Read More →
A fuzzy investment: Santa Ynez Valley duo deals in llamas and alpacas
At Alpacas at West Ranch, hundreds of long-necked, fuzzy creatures frolic about and doze under shady trees on a sweltering summer day in the Santa Ynez Valley. Alpacas are often described as just another agribusiness bubble, like emus, llamas, Shetland ponies and tulips before them. But at this Los Olivos ranch, the charm and the Read More →
Flying small: Private jet company grows even in recession
Santa Barbara may have lost its San Jose flight connection, but a start-up charter jet company is getting off the ground and looking to new heights. Santa Barbara-based Silver Air, founded by president and owner Jason Middleton in early 2008, focuses on transporting business and private travelers around in light, fuel-efficient jets. “Most charter companies Read More →
AML snags $3.7M contract
Camarillo-based defense manufacturer AML Communications said July 20 that it received a $3.7 million order for integrated microwave assemblies to be deployed in unmanned aerial vehicles, or UAVs, from a first-tier defense contractor. Are you a subscriber? If not, sign up today for a four-week FREE trial or subscribe and receive the Book of Lists 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 →
