Editorial: Greece could be our future
We can’t let the European-led rescue plan for Greece pass without a note or two about California. Obviously the excesses of the regime in Athens run closely parallel to the excesses of the various regimes in Sacramento. Too many civil servants make too much money. Too little time has been spent on telling the truth Read More →
Editorial: In Santa Barbara DA race, chance to focus on economic crime
In an important race to be decided in just a few weeks, Josh Lynn and Joyce Dudley are mounting a spirited campaign for Santa Barbara County district attorney. This tussle between Dudley, the deputy DA, and Lynn, the chief trial attorney in the office, has become a fight to burnish tough-on-crime credentials. A blitz Read More →
Editorial: Higher ed fights for the future of the region
In a letter to business leaders, University of California President Mark Yudof argues forcefully for California to abandon budget cuts for higher education and fulfill the promise it made to state residents 50 years ago. What’s unique about this communication is that instead of pursuing a UC-first strategy, Yudoff and his counterparts at the California Read More →
Editorial: CEOs wanted here
There’s nothing wrong with Santa Barbara County’s economy that a few corporate headquarters wouldn’t cure. That’s one conclusion that can be drawn from a close examination of the data behind the recent UCSB Economic Forecast Project report. Local government employment, the largest sector in the county, is pretty much flat at about 23,000. Given the Read More →
Editorial: Building sale smells like another state fiasco
For more proof that the administration of Gov. Arnold Schwarzenegger is living in a world of illusion, look no farther than some serious number crunching on his proposed sale of state office buildings. Once touted as a way to close the state’s budget gap, the plan to sell and lease back 11 flagship office properties Read More →
Special Comment: Where the region's biggest bank goes from here
Best and worst of times, indeed. Behind Pacific Capital Bancorp’s decision to sell a 90 percent stake to a Texas investment firm is a recognition that the California real estate market has not yet begun to turn around. That is the nightmare the bank faced — a slow bleeding of capital, including a loss of Read More →
Editorial: Bank turnarounds offer a ray of hope
If there is one thing we’ve learned from the painful experiences of the past couple of years it is this: As banks go, so goes the regional economy. And from that perspective, it appears the deep recession in real estate is slowly disappearing in the rearview mirror. Surprise first-quarter profits at Community West and American Read More →
