Capital raise at Pacific Capital, other banks tops $700M
UncategorizedTri-county banks have brought more than $700 million into the region in recent months, with some looking to expand and others simply hoping to shore up their capital. “It means we have more financial institutions with the wherewithal to lend,” said California Lutheran University economist Bill Watkins. “It gives businesses more borrowing opportunities and provides Read More →
Retail market heats up again in Santa Barbara, San Luis Obispo counties
ColumnsThe 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
ColumnsEvery 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 →
Editorial: Higher ed fights for the future of the region
OpinionIn 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 →
Deckers treads lightly: New sustainability czar fits in at shoe firm
UncategorizedDeckers Outdoor Corp., maker of the Ugg boot, Teva sandal and Simple branwd of shoes, has spent the past few years making sure its footwear and factories are good for workers and the environment. It won’t put up with suppliers who don’t follow wage, health and safety laws, and its newest BIO.D sneaker soles biodegrade Read More →
PXP drilling project in trouble
UncategorizedPlains 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 →
