14 from Ventura County face federal mortgage fraud charges
Fourteen Ventura County residents could face up to hundreds of years in federal prison for their connections to loan applications that generated $35 million in allegedly fraudulent mortgages. Federal and Ventura County authorities arrested 13 people on June 16 who prosecutors say filled out false loan applications on behalf of largely Spanish-speaking recruits. The applications Read More →
State reform group comes to Santa Barbara
About 50 area business leaders gathered in Santa Barbara on June 16 as California Forward, the Bay Area group promoting regional collaboration and reform of state government practices, held a seminar at the Cabrillo Arts Pavilion. The program was jointly hosted by the Economic Development Collaborative of Ventura County and the Santa Barbara-based Community Environmental Read More →
CLU study casts doubt on green jobs
Expectations that thousands of new green jobs can rescue the California economy from its deep recession are greatly overstated. That’s the conclusion of a new study by Bill Watkins at the California Lutheran University Center for Economic Research and Forecasting. Funded by the California Manufacturers and Technology Association and released June 16, the study says the opportunity for green jobs is Read More →
Web pioneer shares secrets of success
Lynda Weinman, the co-founder of Carpinteria-based online learning site Lynda.com, has been on a roll this year. With 30 million visitors a month and hundreds of thousands of paying members, her fast-growing Web service – which provides online training for creative professionals such as Web designers – outgrew its space in Ventura and has been Read More →
Pacific Capital sweetens deal for debt holders
Debt holders appear to be pushing back against Pacific Capital Bancorp, the parent of Santa Barbara Bank & Trust in the middle of a $500 million rescue deal that requires debt holders’ cooperation. Pacific Capital has more than doubled its cash offer on some of its outstanding debt and extended the deadline to accept to Read More →
Limoneira breaks even on 70 percent revenue gain
Limoneira Co. reported mixed second-quarter results, as revenues jumped 70 percent but shareholders saw no profits. The Santa Paula-based citrus and avocado grower and real estate developer reported net income of $47,000 applicable to common shareholders after preferred dividends, and a $564,000 non-cash charge for the mark-to-market adjustment on its interest rate swaps. The company Read More →
Ventura's City Hall reaches out to business leaders
The détente between Ventura’s business community and City Hall continued on June 12, with the city’s second “Economic Summit” and the first meeting of the economic development roundtable dubbed the “Prosperity Council.” Close to 150 people attended the Saturday morning summit, which included sessions on four topics: “greening” the Ventura economy; enhancing the business climate; Read More →
