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Pacific Capital shares up 35 percent

By   /  Wednesday, November 18th, 2009  /  Latest news  /  Comments Off on Pacific Capital shares up 35 percent

Shares of Pacific Capital Bancorp soared 35 percent in unusually heavy trading on Nov. 18 as the stock closed at 91 cents. Volume was more than 2 million shares compared with the normal 1.3 million shares daily. No news was announced, but as earlier reported, the region’s largest banking company has been seeking a buyer Read More →

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Semtech announces profit, acquisition

By   /  Wednesday, November 18th, 2009  /  Latest news  /  Comments Off on Semtech announces profit, acquisition

Camarillo-based chipmaker Semtech, which makes parts for the BlackBerry and other mobile phones, announced an $11.9 million third-quarter profit Nov. 18 and said it had purchased Irvine-based chipmaker Sierra Monolithics for $180 million in cash. Revenues were down 6 percent from a year ago to $75.1 million, but that figure represented a 13 percent increase Read More →

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North Santa Barbara County poised for rebound

By   /  Tuesday, November 17th, 2009  /  Latest news  /  Comments Off on North Santa Barbara County poised for rebound

The recession likely is ending for North Santa Barbara County, which should be experiencing stable home prices and employment. That is the view of economist Mark Schniepp, who spoke at a Santa Maria Valley Chamber of Commerce economic forecast event Nov. 17. Schniepp said plunging home prices in Santa Barbara County have been fueled by Read More →

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Paso Robles winery owner faces foreclosures

By   /  Friday, November 13th, 2009  /  Latest news  /  Comments Off on Paso Robles winery owner faces foreclosures

UPDATE [1:30pm, Nov. 20]: The auctioning off of San Luis Obispo businessman David Weyrich’s properties on York Mountain Road near Templeton and Los Ranchos Road near San Luis Obispo was postponed Friday morning — at the beneficiaries’ request — until Tuesday Nov. 24. Unless San Luis Obispo County businessman David Weyrich comes up with nearly Read More →

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Investors buy Bank of Santa Barbara from Michigan company

By   /  Thursday, November 12th, 2009  /  Latest news  /  Comments Off on Investors buy Bank of Santa Barbara from Michigan company

It’s official: Bank of Santa Barbara is now run from Santa Barbara and not Michigan. A group of local investors headed by Santa Barbara banking veteran Eloy Ortega announced that it bought the roughly $55-million-asset Bank of Santa Barbara from its Michigan-based parent firm in July. The deal with Capitol Bancorp Limited of Michigan closed Read More →

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Ventura County businesses see bright side, could benefit from exports

By   /  Thursday, November 12th, 2009  /  Latest news  /  Comments Off on Ventura County businesses see bright side, could benefit from exports

Ventura County business owners are more optimistic than their tri-county counterparts, economists told a gathering in Camarillo on Nov. 12. Some 31 percent of Ventura County business owners see improvement in the next three months, versus 10 percent of business owners in San Luis Obispo County and just 6.5 percent in Santa Barbara County. That’s Read More →

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Forecasters:

By   /  Friday, November 6th, 2009  /  Latest news  /  Comments Off on Forecasters:

The San Luis Obispo County economy won’t get much worse this year and will likely start improving next year. But the scope of that recovery will depend on decisions coming down from Washington, D.C., and Sacramento. That was the message delivered Nov. 6 to nearly 500 attendees at a 2010 economic outlook conference in San Read More →

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