TMC Communications acquired
Santa Barbara-based TMC Communications announced July 7 that it had agreed to an acquisition offer by Globalinx, a telecommunications company in Rochester, N.Y. The deal is expected to close in 90 days. Terms were not disclosed. Globalinx will keep TMC’s Santa Barbara office but will re-brand it under its own name. TMC employees will stay Read More →
Pacific Capital picks finance veteran as new CFO
Pacific Capital Bancorp, the troubled parent firm of Santa Barbara Bank & Trust, said July 15 that it has brought a Goldman Sachs Bank veteran on as its new chief financial officer. Mark Olson, 42, takes over from Don Lafler, Pacific Capital’s interim CFO. Olson will have his work cut out for him as Pacific Read More →
Amgen appoints new CFO
Thousand Oaks-based biotech giant Amgen said July 15 that it will have a new chief financial officer effective Sept. 1. Jonathan Peacock will replace Michael Kelly, who has served as acting CFO since May. Peacock, 52, comes to Amgen after five years as CFO of healthcare products company Novartis Pharmaceutical AG. “I am delighted to Read More →
Towbes: Banks will show care with business loans
Risk-based capital ratios of 12 percent to 13 percent are the new normal for community banks, according to Montecito Bank & Trust Chairman Michael Towbes. Speaking to community leaders at a United Way of Santa Barbara County luncheon on July 13, Towbes recounted how he and co-founder John O’Keefe had a hard time raising $1.25 Read More →
Maldonado to speak at Spirit of Small Business event
Lt. Gov. Abel Maldonado will be the keynote speaker at the Pacific Coast Business Times’ 8th Annual Spirit of Small Business Awards luncheon in Santa Barbara on Aug. 12. Since taking office in late April, Maldonado has made job growth and economic development his top priority. A Republican and a former state senator from Santa Read More →
$1B CKE acquisition deal finalized
CKE Restaurants, the parent company of Carl’s Jr., said July 12 that it has completed its $1 billion merger with private equity firm Apollo Management. The deal takes the Carpinteria-based fast food company private. CKE executives have sought to reassure the company’s 179 employees on the South Coast that not much would change after a Read More →
New SBA exec appointed
The U.S. Small Business Administration announced July 1 that Elizabeth Echols will be its new regional administrator for the area that includes the Tri-Counties. The SBA’s Region IX covers California, Nevada, Arizona, Hawaii and Guam. Under the federal stimulus act, the regional office has backed nearly $6 billion in loans to small businesses, according to Read More →
