News

BizFed member Union Bank, and its parent company UnionBanCal Corp., have received final regulatory approval for the $1.5 billion purchase of Santa Barbara based Pacific Capital Bancorp, adding 45 branches and significantly expanding Union Bank’s geographic footprint to important areas of the Central Coast.

Legal closing date is expected Dec. 1, and comes after approval by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, and clearance by the Japan Financial Services Agency.

Mary Nichols, chairwoman of the California Air Resources Board, is widely regarded as one of the most knowledgeable and influential clean air and climate regulators in the United States. In 2006, California adopted AB 32, also known as the Global Warming Solutions Act, which laid the foundation for a cap-and-trade program that sets lower limits on companies' greenhouse gas emissions and allows those who emit less than their cap to sell permits to those who exceed their limits. The first state auction of emissions permits will be held Wednesday.

The election analysis is still rolling in, but one thing is crystal clear after yesterday’s voting across the nation – and closer to home: Business faces some critical challenges as well as opportunities in the months ahead on many fronts and must stay engaged at all levels of government to make our voice heard. Below is a quick snapshot of how BizFed’s slate of CA and LA County ballot measures fared ~ Voters backed BizFed’s positions on ONLY 3 of 8 measures;