Farmworker overtime bill rotten for growers in Tri-Counties
If you want more evidence for my theory that small businesses are simply being thrown under the bus in the current political season, just look at the farmworker overtime bill that nearly passed the General Assembly on Aug. 23. The proposed rules, which were pulled from a final vote on Aug. 25, would mandate higher Read More →
Net income down but Montecitio Bank & Trust’s loans and deposits grow
Santa Barbara-based Montecito Bank & Trust reported net income of $7.2 million in the second quarter, down $800,000 from the same period last year. The bank reported 13.6 percent year-over-year loan growth, ending the quarter at $752 million. Total deposit growth was up 3.3 percent from the second quarter of 2015 while total assets grew Read More →
QAD reports solid second quarter earnings
Santa Barbara enterprise software firm QAD said it earned 3 cents per share or $600,000 in its fiscal second quarter on revenue of $69.8 million. When adjusted for non-cash items such as stock option expenses and amortization costs, earnings were 15 cents per share, the company said. The results reflect QAD’s accelerated transition from a Read More →
Plaintiffs file for class certification in Refugio oil spill lawsuit
A class of plaintiffs who claim to be injured by the Refugio oil spill filed for class certification. After Plains All American Pipeline’s corroded Line 901 ruptured on May 19, 2015 and spilled an estimated 123,000 gallons of oil along the Gaviota Coast, 21,000 gallons of which seeped into the ocean, fisheries were closed, oil Read More →
Lakers may hold training camp in Santa Barbara
The Los Angeles Lakers are in discussions with UC Santa Barbara to hold training camp in Santa Barbara this year. A university official confirmed the discussions on Aug. 25 but told the Business Times that no agreement has been reached and an official announcement will be made if a deal is finalized. The Orange County Read More →
San Luis Obispo’s REC Solar names new CEO
Former Duke Energy executive Matt Walz replaced Al Bucknam as CEO of San Luis Obispo-based REC Solar, the company announced Aug. 24. Walz previously served as the vice president of marketing and later as the vice president of commercial solar for Duke Energy in the Cincinnati area. He replaces Bucknam, who joined REC Solar in Read More →
Ventura’s The Trade Desk to hold $86.2M IPO
Ventura-based digital marketing firm The Trade Desk filed documents Aug. 22 with the Securities and Exchange Commission saying it intends to go public. The Trade Desk did not say in the early filing with the SEC what it intends to price its stock at. The filing said though the company intends to offer a maximum Read More →
