CKE shareholders approve buyout
Carpinteria-based CKE Restaurants said June 30 that 76 percent of its shareholders approved a $649 million cash acquisition by an affiliate of New York-based private equity firm Apollo Management. Shareholder approval was one of the final steps CKE, the parent company of Carl’s Jr. and Hardee’s fast food restaurants, needed to secure the deal, which Read More →
Pacific Capital extends bondholder deadline
In a sign that Pacific Capital Bancorp’s bondholders may play hardball as it tries to pull together a crucial $500 million rescue deal, the banking company said June 30 that it has again extended the deadline for its debt securities to be cashed in. Bondholders of just $68 million of outstanding debt have turned in Read More →
Watkins: California recovery will be soft
Don’t get too excited about those little signs of economic recovery, California Lutheran University economist Bill Watkins said June 29 in his latest state and federal economic forecast presentation. The recovery will be “soft,” especially in California, and there’s a “pretty high” chance of a double-dip recession, Watkins said during the unveiling of the CLU Read More →
Hearst buys Paso meat company
The Hearst Corp. announced June 9 that it has purchased the former Paso Robles Meat & Sausage Co. out of bankruptcy. The meat processing facility had been in receivership since June 2009 and was closed by a federal bankruptcy court in March, Hearst said. Hearst said it will lease the plant to Kaney Foods, which Read More →
Towbes wins Entrepreneur of the Year honors
Breaking a five-year drought for South Coast companies, Montecito Bank & Trust owner Michael Towbes won a coveted Ernst & Young Entrepreneur of the Year award for Greater Los Angeles. The awards were presented June 22 at the Beverly Hilton hotel. Towbes, who celebrated his 80th birthday last year, was the winner in the Financial Read More →
Cal Poly names temporary president
Cal Poly San Luis Obispo said June 18 that Robert Glidden, president emeritus of Ohio University, will serve as its new interim president as the school continues its search for a new leader. Glidden temporarily will fill the space vacated by longtime Cal Poly president Warren Baker, who announced his retirement last year after more Read More →
Inphi files for IPO
Semiconductor firm Inphi Corp. has filed documents to raise up to $115 million in an initial public offering on the New York Stock Exchange. Founded in 2000, Inphi designs high-speed chips for communications equipment and server memory modules. Though technically headquartered in Sunnyvale, it maintains significant operations in Westlake Village. The company has shipped 90 Read More →
