PXP drilling project in trouble
Plains Exploration & Production Co.’s plans to drill for oil off the Santa Barbara coast could be dead in the water after Gov. Arnold Schwarzenegger withdrew his support for the plan. Schwarzenegger’s change of heart was promoted by the spill in the Gulf of Mexico, Bloomberg News reported. Schwarzenegger appointees or allies make up two-thirds Read More →
Editorial: Higher ed fights for the future of the region
In a letter to business leaders, University of California President Mark Yudof argues forcefully for California to abandon budget cuts for higher education and fulfill the promise it made to state residents 50 years ago. What’s unique about this communication is that instead of pursuing a UC-first strategy, Yudoff and his counterparts at the California Read More →
Retail market heats up again in Santa Barbara, San Luis Obispo counties
The Tri-Counties are finally seeing some retail leasing action again, with everybody from large national chains to local mom-and-pop shops penning deals on spaces. It’s an encouraging sign that the economy is truly on the upswing. In Santa Barbara, national clothing retailer Love Culture announced that it has signed a 10-year lease on 7,000 square Read More →
A new deal for a new banking era
Every financial crisis breeds its own solutions. In the case of Pacific Capital Bancorp, the region’s largest financial institution, that solution is something called a “recapitalization.” As befits the era of the hybrid, the proposed $500 million cash injection by Dallas-based Ford Financial Group is part sale and part workout, all done with a wink Read More →
InTouch eyes an IPO: Medical robotics firm raises $10M in private funds
Goleta-based InTouch Health, the maker of a telemedicine robot, has raised $10 million in a private placement and is gearing up to go public. InTouch’s robot and Web-based control platform lets experts in stroke, cardiology and other fields perform patient consultations at faraway hospitals and connect devices such as electronic stethoscopes and EKGs. Founded in Read More →
