Editor’s note: This story was updated July 30 at 3:53 p.m. with comments from CSU and CSUCI representatives. Cal Poly San Luis Obispo has abandoned its plans for a master’s of business administration program in Santa Barbara, university officials said July 30. The move came at the request of the office of California State University [...]
UC Santa Barbara brought in $222 million in external research funding during its last fiscal year, topping all of its old totals. The university called the record-breaking sum “directly attributable to the federal stimulus program.” The money came from federal and state agencies, corporations and nonprofits. It represents a 28 percent increase from the year [...]
Athletic shoe company K-Swiss said July 29 that it had acquired Laguna Beach-based mixed martial arts brand Form Athletics for an undisclosed amount, bringing the company’s founder on board to lead the Westlake Village-based firm’s push into the youth products market. K-Swiss has been working to modernize its brand, which is still largely known for [...]
Biotech giant Amgen reported a 5 percent dip in second-quarter earnings despite slightly better revenues on July 29. The Thousand Oaks-based company earned $1.2 billion, or $1.25 per share, compared with $1.3 billion, or $1.25 for the same quarter in 2009. It blamed the loss in profitability on higher taxes. Revenue edged up to $3.8 [...]
Under a new order from federal regulators, Solvang-based Harrington West Financial Group, parent company of Los Padres Bank, has until the end of the week to boost its capital levels or have the U.S. Office of Thrift Supervision step in. The OTS put Los Padres under what’s called a “prompt corrective action,” or PCA — [...]
Delta Airlines announced July 28 that it will cancel its twice-daily flights between Santa Barbara and Salt Lake City. It’s the latest in a string of bad news for Santa Barbara’s frequent fliers. SkyWest’s direct service to San Jose was recently canceled and Horizon plans to ends its flights to Sacramento. In every case, the [...]
[Editor's note: This story has been updated from an earlier version on July 27.] Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, reported a $61 million second-quarter loss on July 27 and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, [...]
Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, on July 27 reported a $61 million second-quarter loss and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, it now expects to complete a $500 million acquisition by Texas-based Ford Financial [...]
The San Luis Obispo County Housing Trust Fund announced July 20 that it will receive a $1.5 million state grant for affordable housing — though exactly when the money will come remains to be seen. The state has awarded the grant, but due to the state budget crisis, “it is not know when the … [...]
Camarillo-based defense manufacturer AML Communications said July 20 that it received a $3.7 million order for integrated microwave assemblies to be deployed in unmanned aerial vehicles, or UAVs, from a first-tier defense contractor. Are you a subscriber? If not, sign up today for a four-week FREE trial or subscribe and receive the Book of Lists [...]
It’s all smiles and sauvignon in Happy Canyon’s vineyards
Towbes Group grabs Goleta with Groupon-like deals at retailers
Social-media IPOs could launch Golden State sustainability fund
Ventura County brokers hold out ’til 2013 for real recovery
Name changes and new faces at SLO and Oxnard law firms
From apartments to industrial spaces, deals close in the region