UCSB breaks research funding record
UC Santa Barbara brought in $222 million in external research funding during its last fiscal year, topping all of its old totals. The university called the record-breaking sum “directly attributable to the federal stimulus program.” The money came from federal and state agencies, corporations and nonprofits. It represents a 28 percent increase from the year Read More →
K-Swiss buys actions-sports firm
Athletic shoe company K-Swiss said July 29 that it had acquired Laguna Beach-based mixed martial arts brand Form Athletics for an undisclosed amount, bringing the company’s founder on board to lead the Westlake Village-based firm’s push into the youth products market. K-Swiss has been working to modernize its brand, which is still largely known for Read More →
Earnings Snapshot: Amgen profits dip, Occam losses narrow, Teledyne income rises
Biotech giant Amgen reported a 5 percent dip in second-quarter earnings despite slightly better revenues on July 29. The Thousand Oaks-based company earned $1.2 billion, or $1.25 per share, compared with $1.3 billion, or $1.25 for the same quarter in 2009. It blamed the loss in profitability on higher taxes. Revenue edged up to $3.8 Read More →
Los Padres Bank parent given order to raise capital by July 31
Under a new order from federal regulators, Solvang-based Harrington West Financial Group, parent company of Los Padres Bank, has until the end of the week to boost its capital levels or have the U.S. Office of Thrift Supervision step in. The OTS put Los Padres under what’s called a “prompt corrective action,” or PCA — Read More →
Delta to stop Santa Barbara to Salt Lake City flights
Delta Airlines announced July 28 that it will cancel its twice-daily flights between Santa Barbara and Salt Lake City. It’s the latest in a string of bad news for Santa Barbara’s frequent fliers. SkyWest’s direct service to San Jose was recently canceled and Horizon plans to ends its flights to Sacramento. In every case, the Read More →
TARP deal good enough for Ford
[Editor’s note: This story has been updated from an earlier version on July 27.] Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, reported a $61 million second-quarter loss on July 27 and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, Read More →
Updated: Pacific Capital posts $61M loss, gets Treasury cooperation in Ford deal
Pacific Capital Bancorp, the struggling parent of Santa Barbara Bank & Trust, on July 27 reported a $61 million second-quarter loss and said that with the U.S. Treasury agreeing to wipe out $180.6 million in TARP debt in exchange for equity, it now expects to complete a $500 million acquisition by Texas-based Ford Financial Read More →
