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Allergan to shutter Goleta facility, cut 300 jobs

By   /  Tuesday, July 22nd, 2014  /  Earnings, Health Care & Life Science, Latest news, South Coast, Technology, Top Stories, Tri-County Public Companies  /  Comments Off on Allergan to shutter Goleta facility, cut 300 jobs

Allergan will close its Goleta facility and eliminate about 300 positions there as part of a broader cost tightening effort as the Irvine company fends off a hostile takeover attempt. Allergan makes Botox and other cosmetic drugs and devices. The company became a major South Coast employer in 2005 when it bought breast implant maker Read More →

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Santa Clara Valley Bank to be sold in $15.3M deal

By   /  Friday, July 18th, 2014  /  Agribusiness, Banking & Finance, Banking Industry, Latest news, Top Stories  /  Comments Off on Santa Clara Valley Bank to be sold in $15.3M deal

Santa Paula-based Santa Clara Valley Bank is being acquired by Sierra Bancorp for $15.3 million in an all-cash deal announced July 17. The Ventura County bank operates branches in Fillmore, Santa Paula and Valencia. With assets of about $127 million, the bank is the second-smallest bank headquartered in the Tri-Counties.

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PennyMac counts on family, Countrywide ties

By   /  Friday, July 18th, 2014  /  Banking & Finance, Top Stories, Tri-County Public Companies  /  Comments Off on PennyMac counts on family, Countrywide ties

  PennyMac, the Moorpark-based firm founded by former top brass at Countrywide Financial Corp., has inked a $550 million loan repurchasing deal with Bank of America. The deal forms a half-billion-dollar pact among three companies that have been intimately connected since shortly after Countrywide, the firm at the heart of the subprime loan meltdown, was Read More →

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Network Hardware Resale becomes Curvature as strategy shifts

By   /  Friday, July 18th, 2014  /  South Coast, Technology, Top Stories, Tri-County Economy  /  Comments Off on Network Hardware Resale becomes Curvature as strategy shifts

Network Hardware Resale has changed its name to Curvature. The change comes as one of Goleta’s biggest employers shifts its focus away from selling used gear and toward becoming a technology consulting firm.

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Santa Maria, remixed: City looks for winning formula

By   /  Friday, July 18th, 2014  /  Central Coast, Real Estate, Top Stories, Tri-County Economy  /  Comments Off on Santa Maria, remixed: City looks for winning formula

A year after Santa Maria got a new theater complex and a Fallas Discount Store moved into the space formerly occupied by a Mervyn’s department store, city leaders are still scratching their heads over how best to revitalize its struggling retail core.

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Rewinding the tape: After ouster, Qualstar consolidates in Simi Valley

By   /  Friday, July 18th, 2014  /  East Ventura County, Technology, Top Stories, Tri-County Economy  /  Comments Off on Rewinding the tape: After ouster, Qualstar consolidates in Simi Valley

One year after outside investors ousted Simi Valley-based Qualstar’s management and installed a new team, the company has reduced expenses and is working towards profitability.

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Chumash winemaker brings European training to tribe’s new enterprise

By   /  Friday, July 18th, 2014  /  Central Coast, Top Stories, Tourism, Tri-County Economy, Wine & Viticulture  /  Comments Off on Chumash winemaker brings European training to tribe’s new enterprise

The nation’s only Native American winemaker is a young woman from the Santa Ynez Band of Chumash Indians who was ready for the challenge when the tribe entered the wine business.