Clipper Windpower sells 49.5% stake to United Technologies
After suffering losses despite explosive revenue growth, Carpinteria-based wind turbine maker Clipper Windpower has sold 49.5 percent of the company to industrial giant United Technologies Corp. for $270 million. The transaction, announced Dec. 9, sets into motion a battle between U.S. industrial giants for the large wind turbine market. Clipper’s primary U.S. rival and the Read More →
Read More →Breaking news: Select Staffing to go public with $840M merger
Santa Barbara-based Select Staffing, the largest private company in the Tri-Counties, plans to go public in an $840 million merger with a Florida-based company. The deal, announced on Dec. 11, will see Select, which pulled in $1.4 billion in revenue last year, join with Atlas Acquisition Holding Corp, a publicly traded “blank check” firm that Read More →
Read More →Pacific Capital CFO to resign
After a brief but eventful tenure, Stephen Masterson, chief financial and operating officer of Pacific Capital Bancorp, is leaving the troubled banking company, the firm said Dec. 9. Pacific Capital Bancorp is the parent of Santa Barbara Bank & Trust and is the largest independent banking company in the Tri-Counties. After taking federal bailout money Read More →
Read More →The Walking Co. files Chapter 11
Playing a game of chicken with some high-profile mall magnates, Santa Barbara-based shoe retailer The Walking Co. has filed for Chapter 11 bankruptcy, citing untenable leases it signed during what company leaders called a “high water mark for retail space.” The Walking Co., formerly known as Big Dogs, said the move came about because it Read More →
Read More →Baker to leave Cal Poly
Warren J. Baker, president of California Polytechnic State University, San Luis Obispo, is retiring after more than 30 years of heading the university. Baker’s retirement becomes effective when his replacement is named in mid-2010, the school said in a release. Baker will continue to teach part time and assist with science, technology, engineering and mathematics Read More →
Read More →Amgen approves $5 billion stock repurchase
Thousand Oaks-based biotech firm Amgen said Dec. 7 that its board of directors has authorized the firm to buy back as much as $5 billion in stock. Amgen has $1.2 billion of potential stock repurchases under its previous buyback program. Companies often buy back stock to boost share prices or earnings per share. Amgen’s shares Read More →
Read More →Onnen becomes Goleta's new mayor
Erin Onnen and Margaret Connell on Dec. 2 respectively became Goleta’s new mayor and mayor pro tempore. Onnen replaces Roger Aceves and will hold the position until December 2010. Onnen, Aceves and Connell serve on the Goleta City Council. The council rotates the mayor post to a different member each year. In his acceptance speech, Read More →
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