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First California to sell 10M shares

By   /  Wednesday, March 17th, 2010  /  Latest news  /  Comments Off on First California to sell 10M shares

Westlake Village-based First California Financial Group, parent of First California Bank, said March 17 it plans to sell 10 million shares to raise capital to fund potential acquisitions and new customers. A per-share price has not been set for the stock offering, which is being underwritten by investment bank Keefe, Bruyette & Woods. At First Read More →

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SkyWest adds Oxnard to nixed flights

By   /  Tuesday, March 16th, 2010  /  Latest news  /  Comments Off on SkyWest adds Oxnard to nixed flights

After raising fares in the face of declining passenger numbers, SkyWest is cancelling its flight from Oxnard to LAX starting in June. The 20-minute connection to one of the nation’s largest airports has been a mainstay for Ventura County business and government passengers looking to cut down time and hassle getting to Los Angeles. Without Read More →

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SB city manager: General fund cuts inevitable

By   /  Tuesday, March 16th, 2010  /  Latest news  /  Comments Off on SB city manager: General fund cuts inevitable

General fund cuts are inevitable as revenue declines are historic, Santa Barbara City Manager Jim Armstrong said March 16 at the annual State of the City address. The $140 million general fund has experienced a 20 percent decline in retail taxes, a 16 percent decline in hotel taxes and an even sharper decline in property Read More →

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Overconfidence caused the crash, author argues

By   /  Friday, March 12th, 2010  /  Latest news  /  Comments Off on Overconfidence caused the crash, author argues

The global financial crisis was caused by the overconfidence of experts in the field, according to author and journalist Malcolm Gladwell. Speaking at the Arlington Theater in Santa Barbara on March 10, Gladwell said people often attribute mistakes to incompetence but that the financial crisis was actually caused by expert failure. “As our world gets Read More →

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Pacific Capital loses $431.3 million in 2009

By   /  Friday, March 12th, 2010  /  Latest news  /  Comments Off on Pacific Capital loses $431.3 million in 2009

Santa Barbara Bank & Trust parent Pacific Capital Bancorp said March 12 that it lost $431.3 million in 2009 and faces strong headwinds raising the capital it needs to satisfy its agreements with federal regulators. In a regulatory filing, Pacific Capital said its total net loss for 2009 was $431.3 million, compared with $23.8 million Read More →

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QAD swings back to profits

By   /  Thursday, March 11th, 2010  /  Latest news  /  Comments Off on QAD swings back to profits

Santa Barbara-based business software firm QAD on March 11 shot back into the black with a $1.3 million profit for the fiscal year despite faltering revenue. QAD ends its fiscal year Jan. 31, making its most recent results its 2010 year. Its $1.3 million profit was up sharply from the $23.7 million loss it saw Read More →

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Wendy

By   /  Thursday, March 11th, 2010  /  Latest news  /  Comments Off on Wendy

A burger bidding war might be in the works for Carpinteria-based CKE Restaurants, the parent of the Carl’s Jr. chain of fast-food restaurants. Citing sources close to the potential offer, the New York Post reported March 11 that Nelson Peltz, owner of the Wendy’s and Arby’s chain of restaurants, is considering a bid for the Read More →

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