Affinity refinancing paves way for recovery
With new financing in place and a recovery brewing in the recreational vehicle industry, Ventura-based Affinity Group could be back on the road to black ink. Affinity Group owns a nationwide network of discount clubs for RV owners, along with the 75-location Camping World chain of retail stores and a stable of niche magazines targeted Read More →
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 →
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 →
