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By Staff Report / Friday, August 24th, 2012 / Banking & Finance, Law & Goverment, Top Stories / Comments Off on Stratus hits brakes on car shows amid shakeup
By Julian Moore on August 24, 2012 A Santa Barbara company that produces lavish luxury and collectible car shows has suspended its event schedule amid a financial shortfall and turmoil in its executive suite. Stratus Media Group, the luxury car show and fight promoter that owns the event, has sacked its CEO and given him Read More →
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By Staff Report / Tuesday, August 21st, 2012 / Latest news, Technology, Tri-County Public Companies / Comments Off on Qualstar cuts jobs amid $4.1M loss
Simi Valley-based Qualstar, a maker of tape-based hard-drive backups and power supplies, has laid off 13 percent of its workforce. The company said the employees were related to unprofitable technologies that it is phasing out, and the move is expected to save the company about $480,00 a year. The announcement came days after Qualstar said Read More →
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By Dana Olsen / Friday, August 17th, 2012 / Banking & Finance, Real Estate, Top Stories, Tourism, Tri-County Economy / Comments Off on Marriotts hope to leave troubles behind under new ownership
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By Marlize van Romburgh / Thursday, August 2nd, 2012 / Banking & Finance, Personal Finance, Real Estate, Top Stories, Tourism / Comments Off on Nesbitt hotels file $100M bankruptcy
[Editor’s note: See correction appended below.] Santa Barbara hotelier Patrick Nesbitt has placed a portfolio of eight Embassy Suites hotels into Chapter 11 bankruptcy, listing at least $100 million in debts. The bankruptcy filing, which gives Nesbitt’s companies protection from creditors while they restructure their debts, arises from a dispute with a lender over a Read More →
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By Staff Report / Thursday, August 2nd, 2012 / Banking & Finance, Earnings, Latest news, Tri-County Public Companies / Comments Off on K-Swiss profits fall as sales down 32%
Athletic shoemaker K-Swiss stumbled into another large loss in the second quarter as its worldwide sales plummeted by almost one-third. The Westlake Village-based company reported an $11.6 million loss, compared to a loss of $20 million in the same quarter a year earlier. Worldwide revenue fell 31.5 percent to $44.8 million during the quarter. U.S. Read More →
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By Staff Report / Thursday, August 2nd, 2012 / Banking & Finance, Banking Industry, Central Coast, Latest news, Tri-County Public Companies / Comments Off on PacWest closes American Perspective deal
PacWest Bancorp has wrapped up its $58.1 million acquisition of San Luis Obispo-based American Perspective Bank. The deal adds two branches, a loan production office and about $271 million in assets to Los Angeles-based PacWest’s portfolio and expands its reach up the Central Coast. The deal, first announced in April, trumped an earlier offer for Read More →
