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$50M dash for cash sealed Affinity deal

By   /  Monday, September 7th, 2009  /  Top Stories  /  Comments Off on $50M dash for cash sealed Affinity deal

Just three days before scooping up failed Ventura-based Affinity Bank on Aug. 28, San Diego-based Pacific Western Bank gave a $50 million signal that it was in acquisition mode. At a time when banks across the nation were struggling to raise capital, PacWest Bancorp, the bank’s holding company, came up with $50 million. The capital Read More →

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Pacificor revamps strategy

By   /  Monday, September 7th, 2009  /  Top Stories  /  Comments Off on Pacificor revamps strategy

Twenty months after financier Michael Klein died in a high-profile plane crash, his Santa Barbara-based hedge fund, Pacificor, is still working through the deals it struck before a private Cesna 172 he chartered flew into a mountain in Panama. Pacificor is still trying to repair its investment in troubled automobile parts maker Dura Automotive Systems, Read More →

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Getting science right

By   /  Monday, September 7th, 2009  /  Top Stories  /  Comments Off on Getting science right

A group pulling world-class researchers together in Goleta wants to take the spin out of science in the public debate. Novim brings small bands of researchers to the University of California, Santa Barbara, to tackle global questions. The idea is to get 10 of the world’s smartest experts in a room for a week, cut Read More →

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Calavo reports record-breaking third-quarter revenue

By   /  Friday, September 4th, 2009  /  Top Stories  /  Comments Off on Calavo reports record-breaking third-quarter revenue

Santa Paula-based avocado distributor Calavo Growers said Sept. 3 that double-digit growth in fresh avocado sales fueled a 77 percent rise in profits to $2.5 million in the third quarter. Since the beginning of the year, Calavo’s profit has soared three-fold compared to 2008, from $3.7 million to $11.3 million. The third quarter earnings came Read More →

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Dallas Fed president speaks of recovery, warns of deflation

By   /  Friday, September 4th, 2009  /  Top Stories  /  Comments Off on Dallas Fed president speaks of recovery, warns of deflation

Speaking to a crowd at the University of California, Santa Barbara, on Sept. 3, Dallas Federal Reserve Bank President Richard Fisher said that with businesses across the country dealing with overcapacity, deflation is still a greater worry to the U.S. economy than inflation. Fisher, who was invited to speak at UCSB by the Laboratory for Read More →

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Heritage Oaks defies trend, shares up 40% year-to-date

By   /  Monday, August 31st, 2009  /  Top Stories  /  Comments Off on Heritage Oaks defies trend, shares up 40% year-to-date

Amid some of the largest shake-ups to hit the tri-county banking world, one area bank has emerged seemingly unscathed. Paso Robles-based Heritage Oaks Bancorp, holding company of Heritage Oaks Bank, which also includes Business First Bank, has seen its stock price surge by almost 40 percent year-to-date — a sharp contrast to the performance of Read More →

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Scooting along

By   /  Monday, August 31st, 2009  /  Top Stories  /  Comments Off on Scooting along

Tri-county consumers are cutting back on extravagant toys as their investments diminish and jobs grow less secure. But while big motorcycles may be experiencing a slump in sales, those looking to lower their expenses are seeking out small scooters as a pragmatic way of around-town transportation. “We’re seeing a lot of inconsistency,” said Carlin Dunne, Read More →

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