PacWest Bancorp’s contentious acquisition of First California Bank has closed but the dust hasn’t settled yet on the $243 million merger. As the deal was sealed, the banks announced that federal regulators had ordered First California to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who had Read More →
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Ventura-based developer Ronald W. Hertel has filed for personal bankruptcy, listing assets of $591,000 and debts of $118.4 million, likely signaling the final chapter in the spectacular collapse of his business empire. At his peak, Hertel claimed large stakes in homebuilder R.W. Hertel & Sons, private jets, vineyards and a thoroughbred horse ranch. He tried Read More →
The Santa Maria Valley is on the upswing, and builders and businesses are taking note. In April, Santa Maria saw its unemployment rate dip below 10 percent for the first time in more than four years, according to a report released by the Santa Barbara County Workforce Investment Board on May 17. “Going below double Read More →
Why does a hospital in San Luis Obispo charge tens of thousands dollars more for major joint replacement surgery than one across the Santa Barbara County line? And what’s behind a hospital in the city of Santa Barbara asking twice as much as a facility in nearby Lompoc? And perhaps more puzzling, why is the Read More →
