Assembly resolution calls for national tax on fossil fuels
Energy, Latest newsA California Assembly resolution calling for a national tax on fossil fuels is headed to the desk of Gov. Jerry Brown. The bill, AJR 43, calls on Congress to institute a federal tax on carbon-based fossil fuels in order to reduce fossil fuel usage and stave off the effects of climate change. Assembly member Das Read More →
Net income down but Montecitio Bank & Trust’s loans and deposits grow
Banking & Finance, Banking Industry, Earnings, Latest newsSanta Barbara-based Montecito Bank & Trust reported net income of $7.2 million in the second quarter, down $800,000 from the same period last year. The bank reported 13.6 percent year-over-year loan growth, ending the quarter at $752 million. Total deposit growth was up 3.3 percent from the second quarter of 2015 while total assets grew Read More →
QAD reports solid second quarter earnings
Earnings, Latest news, Tri-County Public CompaniesSanta Barbara enterprise software firm QAD said it earned 3 cents per share or $600,000 in its fiscal second quarter on revenue of $69.8 million. When adjusted for non-cash items such as stock option expenses and amortization costs, earnings were 15 cents per share, the company said. The results reflect QAD’s accelerated transition from a Read More →
Lakers may hold training camp in Santa Barbara
Higher Education, Latest newsThe Los Angeles Lakers are in discussions with UC Santa Barbara to hold training camp in Santa Barbara this year. A university official confirmed the discussions on Aug. 25 but told the Business Times that no agreement has been reached and an official announcement will be made if a deal is finalized. The Orange County Read More →
San Luis Obispo’s REC Solar names new CEO
Energy, Latest news, TechnologyFormer Duke Energy executive Matt Walz replaced Al Bucknam as CEO of San Luis Obispo-based REC Solar, the company announced Aug. 24. Walz previously served as the vice president of marketing and later as the vice president of commercial solar for Duke Energy in the Cincinnati area. He replaces Bucknam, who joined REC Solar in Read More →
Parent of Ojai Community Bank raises funds
Banking & Finance, Banking IndustryOCB Bancorp, parent company of Ojai Community Bank, raised additional funds by issuing $3 million of subordinated notes to facilitate future growth. “During this extended period of low rates, many corporations have found it advantageous to issue corporate bonds instead of common stock to assist capital growth,” President and CEO Dave Brubaker said in a Read More →
Ventura’s The Trade Desk to hold $86.2M IPO
Latest news, West Ventura CountyVentura-based digital marketing firm The Trade Desk filed documents Aug. 22 with the Securities and Exchange Commission saying it intends to go public. The Trade Desk did not say in the early filing with the SEC what it intends to price its stock at. The filing said though the company intends to offer a maximum Read More →
