Special Comment: Where the region's biggest bank goes from here
Best and worst of times, indeed. Behind Pacific Capital Bancorp’s decision to sell a 90 percent stake to a Texas investment firm is a recognition that the California real estate market has not yet begun to turn around. That is the nightmare the bank faced — a slow bleeding of capital, including a loss of Read More →
Editorial: Bank turnarounds offer a ray of hope
If there is one thing we’ve learned from the painful experiences of the past couple of years it is this: As banks go, so goes the regional economy. And from that perspective, it appears the deep recession in real estate is slowly disappearing in the rearview mirror. Surprise first-quarter profits at Community West and American Read More →
Editorial: ACLU, Arnold step up for kids
Closing the housing gap and getting our economy back on track is going to take skilled workers filling high paying jobs. The training for those jobs begins in our primary and secondary schools. Which is why we think it was smart for Gov. Arnold Schwarzenegger to side with the ACLU and others who want to Read More →
Putting Cal Lutheran on the map
As part of its 50th anniversary celebration, California Lutheran University has taken the wraps off a much-anticipated economic impact study. It turns out that the Thousand Oaks campus pumped $142 million into the Ventura County economy in its last fiscal year, accounting for about 1,400 jobs and, importantly, more than $20 million in capital expenditures, Read More →
Business takes action to save vital flights
In Santa Barbara and Ventura counties, a business-led effort to reverse United Express’ plans to slash service between the Central Coast and major markets is beginning to gain altitude. In Ventura County, the pushback has begun with a grassroots petition effort to restore several daily United Express flights between Oxnard and Los Angeles International Airport. Read More →
From the editor: SEC finally cracks down
The U.S. Securities and Exchange Commission’s April 16 complaint against Goldman Sachs for failing to disclose the near-certainty of failure in the synthetic debt products it sold under the Abacus brand is an important first step in restoring a fair and equitable balance of power in the financial system. Allowing a select club of investment Read More →
Watching church moves
The Archdiocese of Los Angeles has a much greater impact on the area economy than you might think. High schools, hospitals, missions, colleges and seminaries make it one of the largest employers in the Santa Barbara-Ventura county area. And it was not always apparent that the outlying counties were a priority for outgoing Los Angeles Read More →
