By Henry Dubroff / Friday, August 1st, 2014 / Columns, Opinion / Comments Off on Dubroff: Wall Street rattles the West Coast, shaking up Amgen and Allergan
What happens on Wall Street is having a direct impact on West Coast jobs, with indirect effects on housing and other markets.
The region’s status changed dramatically on July 21 when Irvine-based Allergan announced that it would shutter its Santa Barbara operations and eliminate 300 jobs there.
Allergan will close its Goleta facility and eliminate about 300 positions there as part of a broader cost tightening effort as the Irvine company fends off a hostile takeover attempt. Allergan makes Botox and other cosmetic drugs and devices. The company became a major South Coast employer in 2005 when it bought breast implant maker Read More →
There are signs that the takeover wave that’s engulfed many sectors, notably pharmaceuticals and high-tech, may soon wash up on the beaches of the Tri-Counties.
A federal appeals court has upheld an order banning Ventura-based Athena Cosmetics from selling its eyelash-boosting products in California but ruled that the firm can resume selling them in the rest of the nation.