New SBA exec appointed
The U.S. Small Business Administration announced July 1 that Elizabeth Echols will be its new regional administrator for the area that includes the Tri-Counties. The SBA’s Region IX covers California, Nevada, Arizona, Hawaii and Guam. Under the federal stimulus act, the regional office has backed nearly $6 billion in loans to small businesses, according to Read More →
New water runoff rules approved
Building advocates are claiming a modest victory after water regulators approved changes to proposed storm water rules that would give developers a more affordable tool to help manage runoff. The Los Angeles Regional Water Quality Control Board labored late into the evening July 8 to work out changes to rules that will affect how all Read More →
Cottage, CSUCI announce new nursing program
Santa Barbara County’s first program to offer bachelor’s degrees in nursing will open in 2012 under the leadership of CSU Channel Islands and Cottage Health System, university and hospital officials announced July 9. The program will be in a facility next to Goleta Valley Cottage Hospital, one of three Cottage hospitals in Santa Barbara County. Read More →
Final mortgage fraud suspect arrested
Federal agents have arrested the 14th and final person charged with mortgage-related fraud in two cases in Ventura County, the Ventura County Star reported. The first 13 were arrested June 16, but the 14th, Richard Ceniseroz of Oxnard, was traveling abroad at the time. He was arrested later and arraigned on June 28.
Eucalyptus Systems raises $20 million
In one of the largest technology deals of recent years, Santa Barbara-based cloud computing software firm Eucalyptus Systems raised $20 million in venture capital on July 1 from a group led by Menlo Park-based New Enterprise Associates. With the deal, Eucalyptus has raised $25.5 million since launching last year. Earlier this year, the firm brought Read More →
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 →
