Updated: Pacific Capital posts $61M loss, gets Treasury cooperation in Ford deal
Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, on July 27 reported a $61 million second-quarter loss and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, it now expects to complete a $500 million acquisition by Texas-based Ford Financial Read More →
AML snags $3.7M contract
Camarillo-based defense manufacturer AML Communications said July 20 that it received a $3.7 million order for integrated microwave assemblies to be deployed in unmanned aerial vehicles, or UAVs, from a first-tier defense contractor. Are you a subscriber? If not, sign up today for a four-week FREE trial or subscribe and receive the Book of Lists Read More →
SLO housing fund gets $1.5M grant
The San Luis Obispo County Housing Trust Fund announced July 20 that it will receive a $1.5 million state grant for affordable housing — though exactly when the money will come remains to be seen. The state has awarded the grant, but due to the state budget crisis, “it is not know when the … Read More →
Big deals on State Street
Santa Barbara’s State Street signed its largest downtown retail lease on July 23, with U.S. Bank snagging 5,708 square feet for a new location. The deal comes the same day that 700 State St., the former home of Left at Albuquerque, sold for an undisclosed amount. The U.S. Bank lease at 936 State St. is Read More →
Brand guru pitches "Oxnard Shores," the international city
The consultant hired to develop a new brand for Oxnard recommends building an “international city” theme, centering the downtown area around a “public market,” and changing the city’s name to “Oxnard Shores.” Those were the highlights of a July 22 presentation by Roger Brooks of Destination Development International, the “destination branding” firm hired by the Read More →
Cal Poly delays launch of Santa Barbara MBA program
Cal Poly San Luis Obispo will continue to recruit students for its master’s of business administration program in Santa Barbara but the launch date has been delayed. Officials at the Orfalea College of Business said they had been asked by the office of the Chancellor of the California State system to delay the launch. "We Read More →
South Coast leaders vow to seek new San Jose airline service
Santa Barbara Municipal Airport will offer incentives to lure a new carrier to offer routes to and from San Jose, but service isn’t likely to return soon. That was the message from airport director Karen Ramsdell at a July 21 meeting of 50 business and community leaders, hosted by Citrix Online in Goleta. Business leaders Read More →
