Pacific Capital extends bondholder deadline
In a sign that Pacific Capital Bancorp’s bondholders may play hardball as it tries to pull together a crucial $500 million rescue deal, the banking company said June 30 that it has again extended the deadline for its debt securities to be cashed in. Bondholders of just $68 million of outstanding debt have turned in Read More →
Watkins: California recovery will be soft
Don’t get too excited about those little signs of economic recovery, California Lutheran University economist Bill Watkins said June 29 in his latest state and federal economic forecast presentation. The recovery will be “soft,” especially in California, and there’s a “pretty high” chance of a double-dip recession, Watkins said during the unveiling of the CLU Read More →
Kids' clothes, grown-up businesses
Any parent can tell you that children can be an endless source of joy, tears, laughter and stress. For two Santa Barbara County moms, they’re also a source of business inspiration. In Solvang, children’s clothing company Lollybean has seen steady growth since owner Amy McConnell started the business in 2007. With the clothes she designs Read More →
Editorial: Pacific Capital deal moving along
There are signs that the $500 million investment by Ford Financial Fund into Pacific Capital Bancorp is inching forward. An increased offer to bondholders has met, we understand, with positive responses from a large group of investors. The expiration of TARP funding this fall means the U.S. Treasury might be highly motivated to swap its Read More →
Editorial: Small business is the real key to fixing state
A California Forward meeting for Ventura and Santa Barbara business leaders on June 16 provides a useful marker for how far California has come toward real reform — and how far it needs to go. Over the past several years, voters have overhauled the state’s method for drawing districts and, thanks in part to Lt. Read More →
