Work Investment Board gets $1.1M
UncategorizedThe Santa Barbara County Workforce Investment Board was slated for the public handoff of a $1.1 million check for youth job creation on July 15. A countywide youth jobs program funded by the federal stimulus bill is expected to create jobs for 125 youths. Santa Barbara County Supervisor Joe Centeno was scheduled to hand over Read More →
$75M estate
FeaturesIt’s been a bad year for California homeowners. Many have seen their property values plummet, and the luxury market is no longer insulated. The real estate market in and around Los Angeles has taken a hit, but one Ventura County luxury homeowner is adapting his strategy to fit the downturn. Instead of reducing the $75 Read More →
Insurance agent sentenced in annuity scheme
UncategorizedA former Santa Barbara life insurance agent has been sentenced to 90 days in jail and ordered to pay $2.1 million for misleading seniors in a scheme that left them paying penalties while he reaped $1 million in commissions. David Abraham, 48, of Santa Barbara, pleaded guilty to felony grand theft on July 9, the Read More →
Area investors acquire Bank of Santa Barbara
UncategorizedBank of Santa Barbara is being sold to a group of investors headed by veteran Santa Barbara banker Eloy Ortega, the bank’s parent company said July 13. The exact price of the sale wasn’t disclosed. Ortega agreed to a cash payment of 1.6 times the tangible common equity of the $62 million Bank of Santa Read More →
Business bank scrambles to get capital
UncategorizedBanks large and small are feeling the pinch from the real estate downturn, and regulatory agencies have started asking banks to step up and amass more capital. While that may be relatively easy for some of the area’s big institutions, smaller community banks are handling the process differently. In Oxnard, Ventura County Business Bank President Read More →
Stimulus funds flood Tri-Counties
UncategorizedFunding from the American Recovery and Reinvestment Act — the federal stimulus bill — are starting to percolate into the Tri-Counties, with millions of dollars allocated to infrastructure and job training programs. • Congresswoman Lois Capps (D-Santa Barbara), said that the Bureau of Reclamation will make available $20 million in federal economic recovery funding Read More →
Amgen stock rises
UncategorizedThousand Oaks-based Amgen’s stock price rose the most in four years July 8 after the company reported its lead experimental product, a bone strengthening medicine, worked better than a potential rival in a study, Bloomberg News reported. Shares surged $8.16, or 16 percent, to $60.39 at 9:44 a.m. in Nasdaq Stock Market composite trading. Read More →
