Navy sails to the rescue of Oxnard hotels
Last year was a dismal year for the region’s hospitality industry, but in Oxnard two Marriott hotels basked in the rays cast out by the nearby naval base. Even as the region’s tourism industry continued its slump in 2009, with occupancy rates and nightly revenues on the decline, the Residence Inn by Marriott at River Read More →
Pacific Capital picks finance veteran as new CFO
Pacific Capital Bancorp, the troubled parent firm of Santa Barbara Bank & Trust, said July 15 that it has brought a Goldman Sachs Bank veteran on as its new chief financial officer. Mark Olson, 42, takes over from Don Lafler, Pacific Capital’s interim CFO. Olson will have his work cut out for him as Pacific Read More →
Amgen appoints new CFO
Thousand Oaks-based biotech giant Amgen said July 15 that it will have a new chief financial officer effective Sept. 1. Jonathan Peacock will replace Michael Kelly, who has served as acting CFO since May. Peacock, 52, comes to Amgen after five years as CFO of healthcare products company Novartis Pharmaceutical AG. “I am delighted to Read More →
Towbes: Banks will show care with business loans
Risk-based capital ratios of 12 percent to 13 percent are the new normal for community banks, according to Montecito Bank & Trust Chairman Michael Towbes. Speaking to community leaders at a United Way of Santa Barbara County luncheon on July 13, Towbes recounted how he and co-founder John O’Keefe had a hard time raising $1.25 Read More →
Maldonado to speak at Spirit of Small Business event
Lt. Gov. Abel Maldonado will be the keynote speaker at the Pacific Coast Business Times’ 8th Annual Spirit of Small Business Awards luncheon in Santa Barbara on Aug. 12. Since taking office in late April, Maldonado has made job growth and economic development his top priority. A Republican and a former state senator from Santa Read More →
$1B CKE acquisition deal finalized
CKE Restaurants, the parent company of Carl’s Jr., said July 12 that it has completed its $1 billion merger with private equity firm Apollo Management. The deal takes the Carpinteria-based fast food company private. CKE executives have sought to reassure the company’s 179 employees on the South Coast that not much would change after a Read More →
Have spreadsheet, will travel: Former Harbor Freight exec now a CFO for hire
Small businesses often don’t have the resources to hire full-time financial executives. Enter CFOs-for-hire — a concept taking shape in the Tri-Counties as B2B CFO expands its reach. B2B CFO, based in Phoenix, is a firm that provides part-time chief financial officers to small and medium-sized businesses. The idea is that many smaller companies can’t Read More →
