Teledyne assists with chemical defense
Thousand Oaks-based defense conglomerate Teledyne Technologies said March 5 that one of its companies won piece of a five-year $485 million support contract to help upgrade the Defense Department’s chemical and biological defense equipment. Huntsville, Ala.-based Teledyne Brown Engineering did not disclose the precise value of the deal but called it a “major task Read More →
Hotelier sued over wages
North San Luis Obispo County hotelier and one-time winery owner David Weyrich faces a lawsuit from the state labor commissioner demanding $450,000 in lost wages in penalties after scores of workers complained about how he ran the Carlton Hotel in Atascadero, the Tribune reported. The historic hotel also faces the revocation of its bar and Read More →
Overconfidence caused the crash, author argues
The global financial crisis was caused by the overconfidence of experts in the field, according to author and journalist Malcolm Gladwell. Speaking at the Arlington Theater in Santa Barbara on March 10, Gladwell said people often attribute mistakes to incompetence but that the financial crisis was actually caused by expert failure. “As our world gets Read More →
Pacific Capital loses $431.3 million in 2009
Santa Barbara Bank & Trust parent Pacific Capital Bancorp said March 12 that it lost $431.3 million in 2009 and faces strong headwinds raising the capital it needs to satisfy its agreements with federal regulators. In a regulatory filing, Pacific Capital said its total net loss for 2009 was $431.3 million, compared with $23.8 million Read More →
Solar projects face wildlife issues
It took an economic collapse to thin the number of large solar energy projects eyeing San Luis Obispo County’s Carrizo Plain from three to two. But the remaining solar farms face a formidable, if more diminutive, challenger before breaking ground: the San Joaquin kit fox. First Solar and SunPower are seeking approval to build respective Read More →
Clipper crosses the pond
Carpinteria-based Clipper Windpower broke ground Feb. 18 on a factory in the United Kingdom to produce some of the largest offshore wind turbines in the world. British Prime Minister Gordon Brown attended the ceremony near Newcastle, where Clipper is building a 43,000-square-foot plant. Slated for completion late this year, it will build 236-foot-long blades for Read More →
QAD swings back to profits
Santa Barbara-based business software firm QAD on March 11 shot back into the black with a $1.3 million profit for the fiscal year despite faltering revenue. QAD ends its fiscal year Jan. 31, making its most recent results its 2010 year. Its $1.3 million profit was up sharply from the $23.7 million loss it saw Read More →
