New regulation allows everyone to invest in private companies
By Daniel S. Fabiano Until now, private businesses were banned from soliciting the public for equity investments. At the same time, individual investors were barred from trying their hand at investing in private businesses unless they were accredited investors (making $200,000 per year or possessing $1 million in personal assets) or had a relationship with Read More →
Read More →Osmo wins UCSB New Venture
Osmo, a device that simplifies water sampling and makes it easier for scientists to collect water samples, won the UC Santa Barbara New Venture Competition May 19. By winning the competition the young company won $12,500. UCSB’s Technology Management Program held the competition. About 300 students and 35 teams participated in a program that started Read More →
Read More →Federal regulators say Plains failed to prevent Refugio oil spill
Story updated at 5:20 p.m. May 19: Plains All American Pipeline did not adequately protect its lines from corrosion, properly measure the worn pipes nor respond quickly enough to the Refugio oil spill, according to a final report from the Pipeline Hazardous Materials Safety Administration issued May 19. PHMSA, the federal entity that regulated Plains Read More →
Read More →Sports Authority closing all stores, including 6 in Tri-Counties
Sports Authority plans to close all of its 463 stores, including six in the Tri-Counties, according to documents filed in bankruptcy court in Delaware. Tiger Capital Group, Gordon Brothers Group and Hilco Trading Co. won the May 16 auction with a joint bid for the assets of the struggling chain, which has racked up more Read More →
Read More →Amgen subsidiary discovers rare gene that could reduce heart attack risk
An Amgen subsidiary may have found a rare gene that could drastically reduce the risk of heart attacks in the future. DeCode Genetics, an Iceland-based subsidiary of Thousand Oaks biotech giant Amgen, uncovered a rare and unknown genetic variation in some people that could reduce the risk of heart attacks and lower cholesterol. The variant Read More →
Read More →Resonant signs licensing agreement with customer
Resonant may be turning a corner. The company announced it signed a second licensing agreement May 17 with an existing customer. The Goleta-based company is developing smartphone technology called duplexers it intends to license to manufacturers of smartphone technology. Last week, it announced the first revenues in the company’s history when it reported first quarter Read More →
Read More →Phillips 66 crude-by-rail project continued
Story updated at 10 p.m. May 16: The Phillips 66 proposal to expand its crude-by-rail project was continued until September. The San Luis Obispo County Planning Commission rejected a motion to deny the project at its meeting on May 16. Phillips 66 plans to build a rail spur that would connect its refinery to Union Pacific’s major interstate Read More →
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