Harrington West files for bankruptcy
Solvang-based Harrington West Financial Group, the former parent of failed Los Padres Bank, announced Sept. 10 that it has voluntarily filed for Chapter 11 bankruptcy. Harrington West, listing more than $26 million in liabilities, said it intends to file a liquidating plan within the next few months. With the loss of Los Padres Bank Read More →
Row 44 closes $37M funding round
Row 44, a Westlake Village-based company that provides wireless Internet on commercial airlines, announced Sept. 8 that it had closed a $37 million round of private financing. The new Series B round brings Row 44’s venture capital total to more than $60 million since 2008. “This investment gives Row 44 the operating capital to continue Read More →
Financial crisis inquiry underway in Bakersfield
The federal Financial Crisis Inquiry Commission is meeting in Bakersfield for a Sept. 7 hearing that will focus on community banks and credit unions and the impact of the financial meltdown on California communities. A live feed of the hearing is available at www.fcic.gov. The FCIC’s vice chairman is Bill Thomas, a former congressman from Read More →
Region's companies make Inc. 5000
A number of regional companies were included on the 2010 Inc. 5000, Inc. Magazine’s latest list of the fastest growing companies in the nation. Santa Barbara-based FastSpring was No. 41 on the list, and Xirrus in Thousand Oaks was No. 75. Carpinteria-based Lynda.com was No. 899 and Santa Barbara-based Jensen Audio Visual was No. 2845. Read More →
RiverPark units sell for $81.5M
A 400-unit luxury apartment community in Oxnard’s RiverPark development has been purchased for $81.5 million by three L.A. area firms. Los Angeles-based Urban Partners LLC and Beverly Hills-based Capri Capital Partners and Kennedy Wilson purchased Serenade, a “resort-style community” within RiverPark, Oxnard’s proposed master-planned development. “Our focus has been on supply constrained, infill West Coast Read More →
Calavo Q3 earnings up 141%
Avocado marketer Calavo Growers reported a record third quarter, with earnings up 141 percent to $5.9 million, or 41 cents per share. The Santa Paula-based firm said Sept. 1 that third-quarter revenues jumped 8 percent to $114.6 million on healthy sales of fresh avocados and avocado products and growth in its other perishable produce sales. Read More →
Ford at PCBC to mark closing of deal
“The money’s in the bank.” That was the word from Texas billionaire Gerald Ford at the Aug. 31 announcement of the closing of a $500 million recapitalization deal with Pacific Capital Bancorp. It was Ford’s first public appearance regarding the deal, which leaves him with 86 percent of the tri-county region’s largest independent banking company. Read More →
