Ojai Oil Co. goes from black gold to organic olives
By Marlize van Romburgh / Monday, November 15th, 2010 / Features, Small Business, Top Stories / Comments Off on Ojai Oil Co. goes from black gold to organic olives
Ojai Oil Co.’s 110-year history is as rich as the black gold bubbling up into the Ojai Valley, but the fourth generation of the company is moving away from crude oil to find new fortunes in olive oil. Ojai Oil, headquartered in Camarillo, was started in 1900 by the late Charles Off and 25 original Read More →
Business pressure could kill 1099 rule
By Stephen Nellis / Monday, November 15th, 2010 / Small Business, Top Stories / Comments Off on Business pressure could kill 1099 rule
Among the many political casualties of mid-term elections this year may be an obscure tax-reporting rule that it seems no one — even people within the IRS itself — will miss. The 1099 rule, as it has come to be known, was a little-noticed part of the health-care legislation passed earlier this year. It requires Read More →
SLO mortgage lenders file personal bankruptcy
By Marlize van Romburgh / Monday, November 8th, 2010 / Features, Top Stories / Comments Off on SLO mortgage lenders file personal bankruptcy
The former president of now-defunct mortgage lender Cameron Financial Group has filed for personal bankruptcy, listing $33.1 million in debts and $2.6 million in assets. E. Shannon Faries and his wife, Olivia Faries, filed for Chapter 7 bankruptcy on Sept. 29, listing mostly debts from their now-bankrupt company, which was based in San Luis Obispo. Read More →
New suit hits Brooks Institute
By Stephen Nellis / Monday, November 8th, 2010 / Top Stories / Comments Off on New suit hits Brooks Institute
A former Brooks Institute of Photography student and his family are suing the school’s parent company and lender Sallie Mae, alleging that after he defaulted his student loans ballooned from $120,445 to more than $227,000 based on hidden terms and fees. The former student, Todd Marek, is suing Sallie Mae and two debt collectors in Read More →
Banks in no rush to repay TARP money
By Marlize van Romburgh / Monday, November 8th, 2010 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Banks in no rush to repay TARP money
Two years after the U.S. Treasury Department rolled out its Troubled Asset Relief Program, the federal rescue plan for banks, eight of the nine banks based in the Tri-Counties that took those funds have not yet repaid them. The one bank in the region that has repaid its TARP funds — Santa Barbara-based Pacific Capital Read More →
Hertel partner files $128M bankruptcy
By Marlize van Romburgh / Friday, October 29th, 2010 / Real Estate, Top Stories / Comments Off on Hertel partner files $128M bankruptcy
Almost two years after Ventura-based developer R.W. Hertel & Sons was forced into bankruptcy by its creditors, one partner is left holding the bag. Bob Fowler filed one of the largest personal bankruptcies in tri-county history on Sept. 26, listing $127.6 million in debts. Of those liabilities, $105.6 million are personal guarantees Fowler made on Read More →
Foreclosure freeze won
By Marlize van Romburgh / Monday, October 25th, 2010 / Real Estate, Top Stories, Tri-County Economy / Comments Off on Foreclosure freeze won
As the nation’s largest home lenders continue their self-imposed foreclosure freezes, economists in the tri-county region say the residential real estate market’s search for the bottom is being delayed. The Tri-Counties had more than 1,200 homes in foreclosure at the end of the second quarter, according to information from research firm DataQuick. That’s up more Read More →
