Is PB Companies rebranding following Petetit’s arrest?

December 14, 2015
John Belsher and Ryan Petetit

John Belsher and Ryan Petetit

By KAREN VELIE

PB Companies, a business marred by allegations of financial mismanagement and criminal actions against a principal owner, appears to be attempting to change its image and its name.

Since its inception in 2012, PB Company partners John Belsher and Ryan Petetit have been in court over multiple financial controversies because of failures to pay contractors and for not following building code regulations. In addition, Petetit has been charged with five felonies and six misdemeanors for issues such as assault, writing bad checks and drunk in public.

In the past few weeks, since Petetit’s latest arrest for assault, the company erased its website and its Facebook page. In addition, multiple employees have scrubbed their affiliation with PB Companies from their LinkedIn pages.

Calls to PB Companies phone lines are picked up by a receptionist who answers, “Central Coast Developers.” When asked if PB Companies is closing or changing its name, the receptionist said she was not permitted to answer that question.

However, affiliates of the company said they are not going out of business, they are just getting rid of the PB Company name.

PB Companies is a private finance and investment firm which “creates investment solutions and equity plays in the real estate and business world,” according to its former website. Belsher and Petetit have secured money from banks, hard money lenders and private investors to fund their proposed developments, according to county records

PB Companies is involved in more than a dozen proposed projects including a 26 unit housing development in Templeton dubbed Oak Knoll Creek and a large mixed use development on Tank Farm Road in San Luis Obispo.

Oak Knoll Creek was formally known as Toad Creek. Several subcontractors who worked on the Toad Creek development said they have not been fully paid and question if the company’s habit of changing project names is to hide from claims of nonpayment.

In the past few years, multiple lenders have filed foreclosures notices on PB Company properties including Toad Creek while former contractors have utilized the courts to collect their debts.

In October, the court heard an appeal by Belsher of a small claims case in which a web designer was awarded approximately $6,200. The designer had filed and won a claim against PB Companies for breach of contract after the company failed to pay him for developing its website and designing several logos for the company.

Belsher argued that the work was inadequate. In the end, the judge awarded the designer $4,570.

However, PB Companies failed to pay the judgment. Last week, the designer filed a notice to get a bank lien against PB Companies.


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kayaknut

Maybe someone else will be changing his name soon, to “Former” County Supervisor Adam Hill, sounds good to me.


BigRed

This seems like a missed opportunity. The new thinking in crisis management is to lean into the controversy… use it as branding. In that spirit, why not call it “Chicken-Sh!t Coward Builders” or something like “Drunken Woman Beater Investments”. They could really find a niche as the “bad boys” of over-leveraged real estate developers on the coast. Either way I’m sure that their investors will not be swayed by all of this recent controversy. I’m sure there are plenty of them that do not have sisters, mothers, or wives that they care about. At least no so much that they couldn’t stand looking across the desk at this punk without wanting to go for his throat… or worse treat him like he did his last gal pal.


I hope that the women working for CENTRAL COAST DEVELOPERS / PB COMPANIES are being careful around their boss. Use the buddy system and make sure others know where you are at all times.


If you ARE in business with these guys, I urge you to read the Tribune article that detailed the allegations against Mr. Petetit. After that you might want to keep your involvement on the down low.


justbeware

It won’t take long for the word to get out.

They can run but they can not hide.

They can change their name, it will not change their character.


Gynweir

Thank you CCN for doing what the other “news” organizations won’t do. It’s people like you that are needed to tell us what is happening no matter who’s toes are stepped on! Keep it up!


TacomaRose

Rebranding?


What is it they say about putting lipstick on a pig?


scoopone

I hope the SLO Council and Planning Department read this…aren’t they the pair who have been selected to build the downtown “family” bowling lanes with several bars, pools tables, video machines, etc?????



That project should be re-considered after a complete review of their business\

acumen, but I wouldn’t bet on it. If it moves forward the city might have to finish the project. I don’t trust these two guys.


jonhartz

This pair should be investigated by the feds under the RICO act: they are both a pair of petty racketeers going through life cheating, stealing, and beating people. They remind me of the gangs that would blow through town doing driveways, siding, or roofs and leave before the rains washed everything down the drain. How can such sleazy people get away with this for so long? Adam Hill, are you reexamining your relationship with these crooks?


PolyProf

PB had to change their name because, thanks to Ryan Petetit, they were taking a real beating.


citygirl

Maybe Nick Tompkins wants to do business with them. He likes to screw people over too.


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