Channel Technologies files for bankruptcy protection
Channel Technologies, a Santa Barbara-area ceramic components maker that built products used in the Navy’s sonar gear for decades, has filed for bankruptcy protection amid losses on long-term contracts. The company was expected to lose $11.6 million this year on around $30 million in revenue as it struggled to meet the terms of contracts it Read More →
Montecito Bank & Trust net income down but loan, deposit growth strong
Santa Barbara-based Montecito Bank & Trust reported $10.9 million of net income in the third quarter, down from $12.2 million over the same period last year, but had strong loan and deposit growth. In 2016, MB&T discontinued reversals of excess loan loss reserves to support loan growth, which is reflected in the reduced year-to-date net Read More →
Former Cottage Hospital supervisor charged with embezzling
A former Santa Barbara Cottage Hospital employee was charged with embezzling more than $200,000 from the hospital’s unincorporated Medical Staff Association, the Santa Barbara County District Attorney announced on Oct. 14. Cottage’s former Medical Staff Services Supervisor Pamela Cochran-Escalante is charged with one count of grand theft with the special allegation that she took more Read More →
Tri-Counties shedding fossil fuels industries
The Tri-Counties is moving away from its legacy of fossil fuels industries. The pace of that move and managing the cost of leaving oil and gas operations behind will say a lot about the region’s future prosperity. The Tri-Counties edged further away from fossil fuels on Oct. 5 when the San Luis Obispo County Planning Read More →
Lloyd Properties donates 860 acres of Ventura hillsides to land trust
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Invoca’s new CEO former Salesforce.com executive
A Salesforce.com executive is the new CEO of Santa Barbara call intelligence company Invoca, the company announced Oct. 11. Greg Johnson took over at the beginning of October for former CEO Mark Woodward, who stepped aside after 15 months as Invoca CEO because of personal matters. Johnson, formerly a senior vice president of product management Read More →
Avis Rent a Car property in Funk Zone purchased for $2.5 million
The Avis Rent A Car location in Santa Barbara’s Funk Zone was purchased in a sale-leaseback transaction for more than $2.5 million, Lee & Associates announced on Oct. 11. The transaction of the 1,350-square-foot property at 34 E. Montecito St. marked a record-setting price per square foot at $1,866, said Lee & Associates’ Rob Adams, Read More →
