Business Times enters 10th year of news production
Just at the bottom of the masthead of this issue of the Business Times, you will find the following notation: “Vol. 10 No. 1.” That means we are entering our 10th year of publication. The current newspaper marks the beginning of a year-long countdown to our 10th anniversary, which we will officially celebrate in March Read More →
Stem cell research advances business
The Obama administration’s decision to open the door to federal funding for embryonic stem cell research has long-term benefits for the region. Already, University of California, Santa Barbara, researchers have indicated they will receive millions of dollars in funding for new therapies. These will give a boost to some early-stage projects that are the direct Read More →
TARP wears out welcome
There’s a range war happening in the West over the government’s draconian demands on local banks in return for TARP funding. Already, large banks such as Northern Trust and Wells Fargo have indicated they would like to give the money back. Smaller banks as well have put the government on notice that restrictions on pay, Read More →
TO offers buyouts
The city of Thousand Oaks will offer buyouts to certain employees to offset a budget shortfall, following approval by the city council at its March 10 meeting. Council members also voted to appropriate up to $400,000 to pay for the buyout program, which can accommodate up to 20 employees who are at least 50 years Read More →
Amgen CEO gets pay hike
Amgen Chairman and Chief Executive Kevin Sharer saw his compensation rise 4 percent in 2008 to just under $13.8 million as the company’s stock recovered from safety issues over its anemia drugs and were bolstered by a possible osteoporosis treatment. Sharer’s base salary was $1.56 million — roughly $21,400 per week — and he earned Read More →
Hertel & Sons to file Ch. 7
After several creditors pushed it to file involuntarily for Chapter 7 bankruptcy, R.W. Hertel & Sons was ordered to do so March 11 by the U.S. Bankruptcy Court for the Central California District in Santa Barbara, according to court documents. Hertel & Sons, which built more than 1,100 homes in the Tri-Counties, has been the Read More →
Embezzlement charges reach $1.3 million in SB County
Two Santa Barbara County women have been arrested on charges of embezzling a combined $1.3 million in recent days. Angela Phillips, a 37-year-old Montecito resident, was arrested March 11 on suspicion of embezzling $850,000 from her employer, Windsor Capital Group, according to the Santa Barbara County Sheriff’s Department. In a separate incident, sheriff’s officials arrested Read More →
