"Superior proposal" made for CKE
[Editor’s note: This story was updated at 2:25 p.m. on April 20, to reflect the correction at the bottom of the article.] A $75 million price hike has restarted the bidding war for CKE Restaurants, the Carpinteria-based parent of Carl’s Jr. and Hardees. CKE said April 18 that it has received a buyout offer worth Read More →
Oil
ExxonMobil has set a new record for slant drilling from an oil platform off the coast of Santa Barbara County, setting the stage for decades of more tension between energy companies and environmentalists as new technology unlocks billions of barrels of oil. Houston-based Exxon said April 16 that it had drilled more than six miles Read More →
Cal Lutheran pumps $142M into Ventura County
Thousand Oaks-based California Lutheran University contributes $142 million to the Ventura County economy, including taxes of about $21 million and 1,400 full-time jobs. Those figures are the result of an economic impact study CLU conducted as part of its 50th anniversary. The study was conducted by Jamshid Damooei, a professor of business administration at CLU Read More →
Strawberries top Santa Barbara crop report
Santa Barbara County’s agricultural production topped $1.24 billion in 2009, its highest total ever, according to the county agricultural commissioner’s annual crop report. The report, released April 12, shows a 9.1 percent increase over 2008 in gross value of crops, livestock and other agricultural products. Santa Barbara County ranked 14th in the state in agricultural Read More →
Late bidder emerges to top offer for CKE
Hold the lettuce. The emergence of a late bidder has frozen private equity firm Thomas H. Lee’s plans to take Carpinteria-based CKE Restaurants private for $11.09 per share. The parent company of Carl’s Jr. and Hardees said April 7 it had received a late bid that was likely to top THL’s best offer, an announcement Read More →
Santa Barbara Borders building sold for $10M
The $10 million sale of 900 State St. in Santa Barbara makes for the largest commercial real estate deal in the city in more than two years and signals new life in the city’s downtown. The 38,000-square-foot retail space where Borders bookstore is currently housed was sold on April 5 to an affiliate of SIMA Read More →
UPDATE: Chumash buy Fess Parker land in $40M deal
The Santa Ynez Band of Chumash Indians has bought a 1,390-acre ranch from Fess Parker Entreprises, the company of the late Fess Parker. The deal’s recorded value was $40 million. Charles Bargiel, an attorney for Fess Parker Enterprises, said negotiations for the property commonly known “Camp Four” went on for several months. “Mr. Parker himself Read More →
