Maldonado touts Gills Onions' fuel cell project
Making a pitch for California to lead the world in clean technology research, Lt. Gov. Abel Maldonado said a $10 million project in Oxnard shows how innovation can create jobs in old-line industries such as agriculture. “This is an important project for California,” said Maldonado, speaking May 14 at Gills Onions, where a waste recycling Read More →
Feds give Pacific Capital September deadline to raise cash
Pacific Capital Bancorp, parent of Santa Barbara Bank & Trust and the largest banking company in the Tri-Counties, is under new orders from regulators to boost its capital levels by September or potentially sell or liquidate the bank. Pacific Capital, which is in talks over a $500 million rescue that would transfer control of the Read More →
Lokey joins Mission Community Bank
San Luis Obispo-based Mission Community Bank announced May 3 that it is bringing former Rabobank executive and tri-county banking veteran Jim Lokey on as its executive chairman. Lokey was the president and chief executive officer of Arroyo Grande-based Mid-State Bank & Trust for seven years, until the bank was bought by Rabobank in 2007 in Read More →
Ethos Water co-founder talks innovation, "ethical brands" at CLU
Social entrepreneurship is an emerging blend of nonprofit and for-profit activity, and leading-edge companies are “ethical brands” such as Tesla or Grameen Bank that favor relationships over transactions. That is the view of Jonathan Greenblatt, a former Clinton administration official and entrepreneur who now teaches at UCLA. Greenblatt spoke May 4 at the latest installment Read More →
Updated story: Pacific Capital chief briefs shareholders on $500M deal
[Editor’s note: This story was updated at 3:20 p.m. April 29 with comments from Gerald Ford.] Hours after signing a $500 million deal that could transfer control of Pacific Capital Bancorp to a Texas billionaire’s firm, the banking company’s executives went before investors at its 50th annual shareholder meeting to explain the bold transaction that Read More →
CKE to be acquired by Apollo
Carpinteria-based CKE Restaurants announced April 24 that it will be acquired by an affiliate of Apollo Management. Under the terms of the agreement, CKE stockholders will receive $12.55 per share in cash, representing a 41 percent premium to the company’s closing share price on Feb. 25 and a 14 percent premium over an earlier offer Read More →
CKE nears buyout endgame
South Coast, meet buyout specialist Leon Black. He does not mess around. Black is believed to be the man behind an April 19 bid of $12.55 per share for Carpinteria-based CKE Restaurants, the parent of Carl’s Jr. and Hardees. That’s a whopping 13.5 percent higher than the $11.05 on the table from Boston-based private equity Read More →
