North Bay Business Journal

Impact Napa conference to feature economist Thornberg

NAPA — The Business Journal will host its annual Impact Napa Conference on Aug. 18 featuring a regional overview by highly sought-after economist Chris Thornberg as well as presentations from local experts on issues important to Napa businesses, including wine, tourism and the vitality of downtown Napa.

The event will be held Wednesday, Aug. 18 at the Meritage Resort in Napa. Registration begins at 7:30 a.m., and the program runs from 8:00 a.m. to 11:00 a.m. Tickets are $45 per person or $450 for a table of 10 (with company name on sign). To register, contact Linda Perkins at 707-521-5264 or events@busjrnl.com by Aug. 13, or go to www.NorthBayBusinessJournal.com.

Lennar buys Linwood development from Christopherson

SONOMA COUNTY — National homebuilder Lennar Corporation has purchased Santa Rosa-based Christopherson Homes’ Linwood properties near the Sonoma County Fairgrounds and expects to have a sales office open within a month.

Luther Burbank Savings to take ex-Traverso’s site

SANTA ROSA — Luther Burbank Savings, the largest Sonoma County-based financial institution with $3.5 billion in assets, is moving to the old Traverso’s Gourmet Foods site in downtown Santa Rosa, doubling the size of its current headquarters branch to 6,000 square feet.

Foster’s rebrands wine group as Treasury Wine Estates

NAPA — Australia-based Foster’s Group Ltd. today said it renamed its Napa-based global wine group, set for a “demerger” sometime next year, as Treasury Wine Estates.

Unemployment rates remain high in June, barely changed from May

Unemployment rates for North Bay counties remained high in June and mirrored those for the state and nation, with rates changed less than a half-percentage point from May and some the same as in June 2009, according to state figures released today.

Sonoma Mountain Business Cluster, Wavepoint in partnership

ROHNERT PARK – The Sonoma Mountain Business Cluster has formed a strategic relationship with Wavepoint Ventures, it announced today.
The venture will identify and support innovative startups throughout the North Bay region, according to SMBC Executive Director Michael Newell.
Wavepoint, a venture capital firm with offices in El Dorado Hills and Menlo Park, manages seed-stage investment funds [...]

TriVascular obtains new $60 million infusion

SANTA ROSA — TriVascular of Santa Rosa, California, announced today the close of $60 million in funding, comprised of a Series C equity financing and growth capital venture debt.

Zap acquires majority stake in Chinese auto maker

SANTA ROSA — Electric vehicle maker Zap will acquire 51 percent of Chinese vehicle manufacturer Jonway Auto for $29.03 million in cash. Zap will also acquire exclusive international distribution rights to Jonway’s automobiles in a stock deal valued at $31.5 million based on $1 per share.

The merger agreement was signed by the boards of directors for both companies on July 2.

Wells Fargo Financial closes doors

NORTH BAY — Wells Fargo & Company announced the restructuring of the Wells Fargo Financial division, which will close 638 Wells Fargo Financial stores in the U.S. including an office in Santa Rosa and Fairfield.

The company expects to see 2,800 positions eliminated in the next two months and another 1,000 in the next year.

There are currently 14,000 positions at Wells Fargo Financial, and the remaining people will be moved to other Wells Fargo businesses.

Sonoma Valley Hospital board names new administrator

SONOMA — Sonoma Valley Health Care District named former hospital administrator and “healing model” advocate Kelly Mather as president and chief executive officer of Sonoma Valley Hospital, replacing outgoing Carl Gerlach as of July 19.

Ms. Mather, 43, comes to the 83-bed hospital as the district board last week unanimously approved a five-year plan for $83 million in capital improvements.