Despite dire warnings that future pension costs could cause a fiscal meltdown for tri-county governments, credit ratings for Santa Barbara, Ventura and San Luis Obispo county bonds remain mostly unaffected by looming gaps in their retirement obligation funding.
Standard & Poor’s, a leading rating agency, ranks all three counties near the top of a scale that spans from its highest AAA to C, the lowest rating a bond can have without defaulting. Santa Barbara County carries the agency’s second highest AA-plus designation. Ventura County is assigned a slightly lower AA-rating this year and SLO County is ranked AA-minus.Read More →
“We were drawn [to the property] by the proximity to the Amtrak station and lower State Street, but really the hostel is in its own class for budget-savvy kinds of travelers and international students,” said Jared Filippone, a vice president with Capitoline Properties, which recently purchased the hostel.Read More →
Developer Westar Associates has broken ground on Hollister Village, a mixed-use project in Goleta that will include 266 apartments and a shopping center.
After years in the planning process that included fierce opposition from some neighborhood activists, Costa Mesa-based Westar secured approvals for the project at Hollister Avenue and Glen Annie Road in October 2012.Read More →
Sansum Clinic’s planned merger with Cottage Health System remains on track despite the possibility that the partial government shutdown could delay an anti-trust review of one of the region’s biggest health care deals. And the biggest physician group in Santa Barbara County says it hopes to be able to join the Covered California insurance exchange Read More →Read More →
Many of the region’s largest manufacturers say they face a shortage of skilled factory workers. That’s despite high unemployment rates and a steady decline in tri-county manufacturing jobs in recent years. Industry experts say the shortage stems from a number of factors, including a dearth of young people interested in manufacturing careers. Few students are Read More →Read More →
In a sharp turnaround for its legendary CEO’s view of California real estate, Berkshire Hathaway has put its name on the former Prudential California Real Estate operations on the Central Coast. The change became official Oct. 1 when the first Berkshire Hathaway signs were unveiled at a private home in Montecito that carries a $16.9 Read More →Read More →
This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.Read More →