Montecito investor gets sentencing date as ex-wife seeks bankruptcy
David Prenatt, the Montecito real estate investor who took in $18 million from more than a dozen people and then used the cash to support what a bankruptcy trustee called “lavish spending habits,” is headed for a sentencing in federal criminal court on Dec. 9.
Prenatt struck a deal with federal prosecutors this summer and pleaded guilty to giving false loan application information to Lompoc-based CoastHills Federal Credit Union. Prenatt’s creditors forced him into an involuntary bankruptcy proceeding in 2009. Earlier this fall, his former wife Maria Prenatt filed for personal bankruptcy claiming $27.1 million in debts.
Letter: Sheriff’s decision to sue reflects poor judgement
The article headlined “Ex VC sheriff sues for supplemental pension” in your Oct. 18 issue got my blood boiling, as I am sure it did with many of your readers.
Timing is everything with $56M Central Coast banking merger
Regulators will have one less bank to regulate and the combined bank will get benefits from economies of scale.
Santa Barbara tourist hostel sells as developers eye lower State St.
“We were drawn [to the property] by the proximity to the Amtrak station and lower State Street, but really the hostel is in its own class for budget-savvy kinds of travelers and international students,” said Jared Filippone, a vice president with Capitoline Properties, which recently purchased the hostel.
Deckers steps up sales
Shares of Goleta-based Deckers Outdoor Corp. jumped 14 percent in after-hours trading as the owner of Ugg, Teva and other casual footwear brands beat Wall Street expectations and said the rest of the year is on track.
Deckers said its acquisition of Hoka One One helped boost third-quarter sales 3 percent to $386.7 million; sales of its flagship Ugg brand gained 1.3 percent. The company, which is building a new headquarters on Hollister Avenue, said a new web site and more retail stores also helped.
Heritage shares rise despite profit dip
Shares of Paso Robles-based Heritage Oaks Bancorp were up 3.33 percent in after-hours trading after third-quarter profits hit analyst expectations and several key metrics painted a rosy picture as the bank spearheads its expansion into Ventura County. Profits actually declined to $2.8 million for the third quarter, down from $6.4 million. But the decline stemmed Read More →
Gills Onions looks to biogas for future revenue
Steve Gill, president and co-founder of Gills Onions in Oxnard, said at an energy sustainability seminar in Westlake Village Oct. 23 that the next big technology push for his company will be to convert solid onion waste into methane gas to be sold as biomethane. That is a product that will be in demand as Read More →
