Wal-Mart
Nearly 70 percent of Atascadero voters on Nov. 4 rejected Measure D-08, the so-called “Shield Initiative” that would have prevented Wal-Mart from setting up shop in the northern part of the city. The failure of the measure, paired with the three pro-business candidates elected to the city council, signaled a voter mandate in the city. Read More →
Read More →Feds set to OK $188M for Pacific Capital
Santa Barbara-based Pacific Capital Bancorp is expected to receive nearly $200 million from the federal government’s bank bailout fund, a move the region’s largest bank said will enable it to strengthen its balance sheet and make more loans in the Tri-Counties. Pacific Capital said Nov. 6 that it has received preliminary approval for a $188 Read More →
Read More →Let me see if I understand this correctly. If you totally pigged out on the sub-prime mortgage scam, bought an oversized house, took a ton of cash out and then failed to make the payments, it is now the official policy of the U.S. Treasury and the FDIC that you deserve a bailout. If you Read More →
Read More →FDIC takes over Maria Vista Estates Project
The Federal Deposit Insurance Corp. will decide the fate of Maria Vista Estates, a 77-lot development near Nipomo that is in Chapter 7 bankruptcy proceedings. The FDIC became the project’s largest creditor after it shut down Los Angeles-based Security Pacific Bank on Nov. 7. Security Pacific Bank had provided two loans worth about $23.7 million Read More →
Read More →Troubles mount for papers
In another sign the region is not immune to the deep problems weighing on the daily newspaper industry, the Ventura County Star is cutting 44 jobs and the National Labor Relations Board is filing new charges against the Santa Barbara News-Press. The Star announced its latest and deepest cuts on Nov. 6. At the News-Press, Read More →
Read More →Tea Fire 100% contained; 200+ homes destroyed
SANTA BARBARA — After the destruction of 210 homes, the Mt. Calvary Monestary and parts of Westmont College, firefighters were able to contain 100 percent of the "Tea Fire" by Nov. 18. County officials put the firefighting cost at $5.7 million to date. Three people suffered burn injuries while another 22 were treated for smoke Read More →
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