Countrywide's Mozilo accused of fraud
The U.S. Securities and Exchange Commission has filed civil fraud charges against former Countrywide CEO Angelo Mozilo as well as company president David Sambol and Eric Sieracki. Mozilo, who founded Countrywide in 1969, is separately charged with engaging in insider trading of Countrywide stock when he set up his highly controversial executive stock sale plans Read More →
Read More →King
Two massive San Luis Obispo County developments owned by John King have filed for Chapter 11 bankruptcy protections, putting on hold a foreclosure auction slated for June 1. King is developing Vaquero de los Robles, a luxury resort near the Paso Robles airport, and Spanish Springs, a development planned near Pismo Beach. The two projects Read More →
Read More →News-Press heads into trial with Labor Board
Ampersand Publishing, parent company of the Santa Barbara News-Press, went before a federal labor judge May 26 for what’s expected to be a 20-day trial over charges of bad-faith bargaining with and illegal firing of a union worker. The trial is the second in two years in which attorneys from the National Labor Relations Board Read More →
Read More →Three tri-county dealers to lose Chrysler franchises
Three tri-county dealers won’t be selling Chryslers after June 9 as part of the ailing automaker’s plan to shed a quarter of its dealerships. Kirby Oldsmobile-Jeep-Eagle-Suzuki in Ventura, Ted Miles Jeep in Atascadero and Perry Ford Lincoln-Mercury Jeep in San Luis Obispo will lose franchise agreements, the automaker announced May 14. Chrysler, which has already Read More →
Read More →Fire singes sales for Santa Barbara businesses
Sales dropped sharply for dozens of Santa Barbara’s small businesses as smoke and ash from the Jesusita Fire swirled through the city for a third day May 7. A few shops located near the blaze soldiered on as city officials pondered how small businesses already coping with a weak economy would survive the latest natural Read More →
Read More →Fire delays Apple store
Apple will open its first store in Santa Barbara at 10 a.m. May 16 after the Jesusita Fire pushed its grand opening back one week. The store at 928 State St. sat a few blocks from an evacuation warning area for several days as flames burned in the foothills above downtown Santa Barbara. It was Read More →
Read More →Jesusita Fire 95 percent contained
The Jesusita Fire, which has burned more than 13 square miles, is 95 percent contained, officials announced May 15. All evacuation orders and warnings have been lifted. Fire investigators announced May 10 that power tool equipment used to clear vegetation likely sparked the blaze May 5. Officials have confirmed that the fire destroyed 80 homes Read More →
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