Hertel debt at $100M, Fowler says
The business empire controlled by developers Ron Hertel and Bob Fowler racked up $100 million in debts, acquiring five aircraft, a boat, a horse ranch and vineyards before it collapsed last year amid a mountain of real estate-related liabilities. At a hearing in the Santa Barbara office of the U.S. Trustee on July 24, Fowler Read More →
Amgen profits soar, ups guidance
Amgen shares soared in after-hours trading Monday as the Thousand Oaks-based biotech giant reported sharply higher-second quarter profits and raised earnings guidance for the full year. Amgen said it earned $1.29 per share on revenue of $3.7 billion, sharply higher than analyst estimates of $1.15 per share and revenue slightly below $3.6 billion. Amgen said Read More →
Power-One cuts 300 jobs
Camarillo-based power supply maker Power-One slashed 300 more jobs July 24 as its losses steepened sharply in the second quarter. The net loss felt by common shareholders spiked to $6.8 million from a loss of $3.9 million in the second quarter last year, the company said in an earnings announcement. Net sales also tumbled 39 Read More →
Fire burns near Ojai
Firefighters in Ventura County had a blaze off Highway 33 near Ojai 75 percent contained late in the evening July 21, according to the Ventura County Star. The fire started that afternoon and scorched more than 30 acres by 7 p.m. It was burning in a rugged, hard-to-reach area with several oil fields nearby. Read More →
Union wants boycott
A union representing technical employees at television station KSBY, a San Luis Obispo and Santa Maria NBC affiliate, is demanding advertisers boycott the local station for the remainder of a labor dispute. The union is currently in a labor contract dispute with the station’s South Carolina-based owners. The boycott asks that advertisers support the Read More →
Kaai raises another $3.5M
Goleta-based Kaai has raised a $3.5 million series B round of financing from a group of investors that includes clean-tech investment firm Khosla Ventures, according to regulatory filings. The secretive start-up is working on an LED lighting technology developed by Steven DenBaars and Shuji Nakamura, two researchers at the University of California, Santa Barbara. Nakamura Read More →
In honor of a business news leader
We’ll take a few words to honor Ray Shaw, a journalist and entrepreneur who died suddenly this month at age 75. Beginning in the late 1980s, Shaw led Charlotte, N.C.-based American City Business Journals, the nation’s foremost owner of weekly financial news publications. As a former Wall Street Journal reporter, Shaw rose through the ranks Read More →
