New adviser rules may bolster retirement plans
New rules for financial planners advising retirement plans and Health Savings Accounts could have an unexpected benefit for small businesses. The rules, from the U.S. Department of Labor, place new “fiduciary” responsibilities on financial advisers and consultants. They must pick the most economical plans – without regard to their own compensation — when advising clients. Read More →
Minimum wage hike a moral issue
By Steven Mintz California is frequently a bellwether state with respect to workplace ethics issues. Exhibit A is the recently adopted law that mandates a minimum wage of $15 by the end of 2022. Under a deal reached with state lawmakers on April 4, the state minimum wage will rise to $10.50 on Jan. 1, Read More →
CSU, faculty union reach tentative contract deal to avoid strike
California State University Chancellor Timothy P. White and California Faculty Association President Jennifer Eagan will hold a joint news conference at 10 a.m. April 8 to announce a tentative contract agreement between the university administration and faculty union. A proposed five-day faculty strike, slated to begin on April 13, will be postponed pending approval and Read More →
City National Bank opens Westlake Village office
City National Bank announced on April 7 the opening of its new Westlake Village office. The subsidiary of Toronto-based Royal Bank of Canada has been steadily growing its retail, commercial and wealth management presence in Ventura County. Its new 2,700-square-foot office at 3027 Townsgate Road will serve clients in Westlake and surrounding communities in Los Angeles Read More →
EDC suing California Resources for alleged contamination of Ventura waterways
The Environmental Defense Center is suing the California Resources Corporation for allegedly contaminating Ventura waterways with polluted storm water runoff. The suit, filed in U.S. District Court on April 5, claims CRC violated the Clean Water Act at its 5,757-acre South Mountain oil field, where it conducts oil exploration and development activities near the city Read More →
Santa Barbara entrepreneur Ziouani launches another company
Santa Barbara serial entrepreneur Said Ziouani launched another company April 6. Ziouani is CEO of Anchore, a new Santa Barbara company that provides a portal for security teams, inspectors and shippers to ensure proper containers get deployed to the proper place. The company was founded with $2 million in seed funding from Doug Carlisle, managing Read More →
Venoco suing Plains for $12 million over Refugio oil spill pipeline closures
Denver-based Venoco, an oil and gas producer with significant operations in the Tri-Counties, is suing Plains All American Pipeline for more than $12 million in damages. Venoco is suing the Houston-based energy infrastructure company responsible for the Refugio oil spill for the continued loss of profits that stemmed from the shut down of Line 901 Read More →
