Business

Tuesday, Nov 12 2013 07:34 PM

Worth noting in business: Bakersfield's home sales, inventory rose in October

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    By Henry A. Barrios / The Californian

    This home located at 5401 Dunsmuir Road #21 sold for $67,000 on Sept. 23. The 853-square-foot home in the 93309 ZIP code has 2 bedrooms and 1 bathroom.

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By THE BAKERSFIELD CALIFORNIAN

Bakersfield's home market entered the off-peak season with sales and inventory both on the upswing, according to an October update from local appraiser Gary Crabtree.

Single-family listings were up 18 percent from September at 991, a 71 percent jump from a year before. Closed sales of existing homes reached 463, a 4 percent bump from the month before but 19 percent below the year-ago mark set during an investor shopping spree.

The city's median sale price for an existing home was $185,000, nearly 5 percent less than September's median but nearly 20 percent greater than 12 months earlier.

 

Tejon Ranch Co.'s third-quarter earnings were off significantly from the same period a year before , largely because higher almond prices failed to offset reduced pistachio, grape and oil production.

For the three months ended Sept. 30, the Lebec agribusiness and real estate development company posted net income of $2.3 million, or 11 cents per common share, as compared with earnings of $4 million, or 20 cents per common share, for the third quarter of 2012. Revenues were $15.1 million, compared with $16.1 million for the same period last year.

The company attributed some of the declines to temporary oil well closures amid maintenance and storage facility expansion work. It also pointed to increased earnings from joint commercial real estate ventures, as well as a checkered performance by Tejon's almond and pistachio groves. Lower grape revenues resulted as the company removed older vines and continued to deal with damage from a summer windstorm.

 

Assemblyman Rudy Salas, D-Bakersfield, is scheduled to deliver the keynote speech at the Greater Lamont Chamber of Commerce's 2013 Business Conference.

The Nov. 20 event is scheduled to run from 8:30 a.m. to 2 p.m. at the David Head Center, 10300 San Diego St. Registration is $25 for members, $30 for nonmembers. Breakfast and lunch are included.

For information, check online at www.lamontchamber.com

 

Winners of the inaugural 2013 West Coast Oil & Gas Awards were announced Oct. 24 at a dinner and awards ceremony inside the Bakersfield Marriott at the Convention Center.

The Source Group won in the category of Construction Company of the Year. Brown Armstrong Certified Public Accountants won in Corporate Consultancy of the Year. Signal Hill Petroleum Inc. won in Corporate Social Responsibility Initiative of the Year. Kenai Drilling won in Drilling Company of the Year. Hathaway LLC won in The TEEMCO E&P Company of the Year.

TJ Cross Engineers Inc. won in the category of Engineering Company of the Year. E&B Natural Resources Management Corp. won in Environmental Initiative of the Year by an exploration and production company. Baker Hughes won in Environmental Initiative of the Year by a Service Provider.

Nodal Seismic won in the category of Geophysical Company of the Year. Sage Environmental Consulting LP won in Health & Safety Initiative of the Year.

Robert Heinemann, president and CEO of Berry Petroleum Co., was named Industry Leader. JD Rush Co. Inc. was named Industry Supplier of the Year. Mannatt, Phelps & Phillips LLP was named Law Firm of the Year.

Celanese was named Manufacturer of the Year. Halliburton was named Oilfield Service Company of the Year. Total Safety was named Operational Consultancy of the Year. Commercial Global Insurance Services of California LLC was named Risk Management Provider of the Year. Gazelle Transportation Inc. was named Trucking Company of the Year.

 

Pacific Gas and Electric Co. has awarded a $25,000 grant to Bakersfield ARC , a nonprofit that provides job training, employment and support services for people with intellectual and developmental disabilities.

The grant is part of the San Francisco-based utility's Economic Vitality Grant Program, which is expected to give up to $250,000 in shareholder money to organizations that help small business creation and workforce development this year.

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