Water rights require balance of interests
As a water lawyer, I am frequently asked, “Who owns the water in California?” In jest, I sometimes respond, “Is that a trick question?” The question is often a charged one that is underlain by personal views that there is either too much or too little government control over water use. The political adage that Read More →
Amgen Tour of California to include Thousand Oaks to Santa Barbara leg
Organizers of the 12th annual Amgen Tour of California bicycle race announced the full route on Jan. 28. The 2016 race will run 782.7 miles from San Diego to Sacramento from May 15 to May 22. This year will also be just the second time out of 11 previous races that the route runs south Read More →
Amgen revenues up 8 percent in 2015
Despite increased competition from biosimilars and blockbuster mergers by its rivals, Amgen revenues rose 8 percent to $21.67 billion in 2015 from $20.06 billion in 2014. Thousand Oaks-based biotech giant Amgen released its fourth-quarter earnings after markets closed on Jan. 28. Quarterly revenues were also up 4 percent to $5.54 billion in 2015 from $5.33 Read More →
Montecito Bank & Trust profits up 21 percent in 2015
Santa Barbara-based Montecito Bank & Trust reported net income of $15.9 million for 2015, up from $13.1 million in 2014. Total gross loans grew 17 percent year-over-year, totaling $711 million on Dec. 31. Total assets were up $53 million in 2015 to $1.2 billion. Total deposits increased 4.5 percent to $1.1 billion, up $48 million. Read More →
Community West Bancshares fourth-quarter income down from previous year
Community West Bancshares, parent company of Community West Bank headquartered in Goleta, reported a net income of $1.9 million for the fourth quarter of 2015, down from $2.2 million the previous year. For the full year, Community West reported net income of $2.9 million, down from $7 million in 2014. Excluding the $7.1 million net Read More →
Pacifica Hotels buys Milner Hotel in Los Angeles
Pacifica Hotels purchased The Milner Hotel in downtown Los Angeles, the company announced on Jan. 25. Pacifica is one of the largest independent hotel owners and operators along the Pacific Coast with an office on Cliff Drive in Santa Barbara. The company said it is evaluating its long-term strategy for the property at 813 S. Read More →
Ceres awarded patent in Australia for trait that increases crop yields
Thousand Oaks-based Ceres Inc., an ag-biotech company, was awarded a patent in Australia for a trait that allows growers to increase yields without increasing crop inputs like fertilizer. The patent extends intellectual property protection to the Australian market of a key gene that Ceres has licensed to a multinational crop developer. It covers uses of Read More →
