Our view: Shuttered oil pipelines too much for Venoco
Updated at 12:05 p.m. April 24: When a Plains All American pipeline broke, spilling 142,000 gallons near Refugio Beach two years ago, few would have foreseen the unintended consequence that played out in a Delaware bankruptcy court on April 17. Venoco, a capable operator and the largest corporate taxpayer in Santa Barbara County, announced it Read More →
American Riviera Bank reports strong growth
Santa Barbara-based American Riviera Bank showed strong growth for the first quarter of 2017, posting an unaudited net income of $956,000 or 22 cents per share. The rise represents a 426 percent increase from the $182,000 or 4 cents per share reported for the first quarter ended March 31, 2016. The growth is the latest Read More →
Wealth manager, baseball player Lon Morton dies at 72
Story updated at 10:50 a.m. April 20: Lon Morton, a former minor league baseball player who pioneered the field of investing in alternative assets, has died. He was 72. Morton founded Morton Capital Management in the early 1980s, helping wealthy investors diversify their holdings with real estate and other forms of assets that provided stable Read More →
Data breach hit tri-county hotels in September
Holiday Inn Express Hotels in Santa Barbara, Lompoc, Atascadero and Solvang were part of a security breach that affected 1,200 InterContinental Hotels Group locations beginning Sept. 29, 2016, the company announced April 14. IHG said it hired a cyber security firm to conduct an investigation into the breaches in February, which identified malware intended to Read More →
CalAmp revenues up for fourth quarter
Oxnard-based CalAmp, owner of LoJack brand security devices, said revenue for the fourth quarter ended Feb. 28 jumped 22 percent. CalAmp, which has made extensive investments in Internet of Things technologies, said LoJack contributed $27.8 million to fourth-quarter revenue, which totaled $86.1 million. “As we close out fiscal 2017 we are pleased with the progress Read More →
Venoco again files for bankruptcy
Just nine months after a federal bankruptcy court approved its reorganization plan, Venoco LLC re-entered Chapter 11 proceedings on April 17 and handed environmentalists a victory in announcing the shutdown of an offshore oil platform. Venoco said that under its plan for bankruptcy reorganization, Platform Holly and the South Elwood Oil Field are being transferred Read More →
4 tri-county companies to get tax credits for adding employees
Four tri-county businesses received tax credits to hire additional employees on the Central Coast as part of the California Competes program through the Governor’s Office of Business and Economic Development. A total of $91.4 million for 114 companies was approved by the tax credit committee. Carpinteria’s Procore Technologies will invest around $4.7 million to bring Read More →
