Plains let Line 901 run for 35 minutes after pipe ruptured in May
Energy, Latest newsPlains All American Pipeline allowed Line 901 to run for 35 minutes after the pipe ruptured the morning of May 19, 2015, according to a preliminary report published on Feb. 17. Federal regulator Pipeline Hazardous Materials Safety Administration came out with a detailed timeline of the Refugio oil spill and more detail regarding Line 901’s Read More →
Venoco misses interest payment, looks to restructure debt
Energy, Latest newsVenoco is looking to restructure its debt as the Refugio oil spill fallout and oil market decline has hindered operations. The Denver-based oil producer that has offices in Carpinteria has chosen not to make the $13.7 million semi-annual interest payment due Feb. 16 on its 8.875 percent senior unsecured notes as the company considers its Read More →
SBA offers tri-county crab fishermen low-interest loans
Latest newsTri-county crab fishermen impacted by the four-month fishery closure can apply for low-interest federal disaster loans, the U.S. Small Business Administration announced on Feb. 12. The SBA is offering working capital loans of up to $2 million with a 4 percent interest rate for small businesses and 2.625 percent for nonprofits with terms up to 30 Read More →
OCB Bancorp income up 142 percent in 2015
Banking & Finance, Banking Industry, Earnings, Latest newsOCB Bancorp, the parent company of Ojai Community Bank, increased its year-over-year net income by 142 percent in 2015. OCB Bancorp’s net income grew from $380,000 in 2014 to $921,000 in 2015, or 40 cents in earnings per share. Total loans increased $48.2 million or 37.5 percent to $176.5 million in 2015. Total assets rose Read More →
California Coastal Commission fires executive
Latest newsThe California Coastal Commission voted 7-5 on Feb. 10 to fire Executive Director Charles Lester. Hundreds of people filled the Morro Bay Community Center and gave several hours of public comment in support of Lester before commissioners deliberated in a closed session and then announced their decision. Lester, who defended his leadership, said he was Read More →
Mindbody revenue up but so are losses
Earnings, Latest news, Tri-County Public CompaniesYoga software developer MindBody reported that revenues increased, subscribers increased and net losses increased once again when the company released fourth quarter and year-end earnings Feb. 10. San Luis Obispo-based MindBody sells products and merchant processing to yoga and fitness centers worldwide. Fourth quarter revenue increased 40 percent from $20.12 million in 2014 to $28.27 Read More →
Ventura, Channel Islands harbors to get federal funds for dredging
Latest newsTwo Ventura County harbors will receive federal funding to continue dredging operations. The Ventura Harbor will receive $11.6 million in federal funding for dredging operations over the next two years. Channel Islands Harbor will also receive $9.85 million in federal funds for dredging this year. The Army Corps of Engineers included $7.33 million in this Read More →
