Bank of America has shed a 1 million-square-foot portfolio of former Countrywide Financial Corp. office buildings for $200 million and plans to consolidate its Simi Valley campus.
Oxnard’s city attorney is trying to claw back $101,400 from seven city officials who benefited from an allegedly illegal retirement perk set up by Ed Sotelo, the former city manager at the heart of a corruption probe that began in 2010.
With $2.3 million in recent federal funding, Sansum Diabetes Research Institute is moving forward with clinical trials of its artificial pancreas, a device that researchers hope will substantially improve the lives of people living with Type 1 diabetes.
Radio Shack plans to close up 1,100 stores around the U.S. and Staples, the largest office-supplies company in the U.S., said it would shutter 225 stores nationwide in a plan to cut costs by $500 million.
A Philadelphia company’s $41.7 million purchase of Hotel Oceana in Santa Barbara signals that large out-of-town investors are betting on a major boom in South Coast tourism.
Deckers warned investors to expect a loss of 16 cents per share — compared to the 10-cent-per-share profit expected by Wall Street analysts — in the first quarter despite projected revenue growth. The company said that the reason was its aggressive build-out of its own branded retail stores around the world.