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Articles Tagged With ‘Paso Robles’




Bank’s own appraisal questions Gearhart loan

Written on 1 Jul, 2008 in Uncovered SLO | 7 comments

By KAREN VELIE and DANIEL BLACKBURN A million-dollar loan from Heritage Oaks Bank to North County developer Kelly Gearhart earlier this year was based on “erroneous” and questionable claims, according to the bank’s own appraisal. That appraisal was not received by bank... (Continue reading)

More state allegations heaped on EFI

Written on 1 Jul, 2008 in Uncovered SLO | 10 comments

The State Department of Real Estate (DRE) has filed accusations against hard money lender Estate Financial (EFI) of Paso Robles for eight causes of action that include “misrepresentations and false promises made to investors and acting fraudulently and dishonestly in... (Continue reading)

Paso merchants lost big on Memorial Weekend

Written on 16 Jun, 2008 in Uncovered SLO | 4 comments

By DANIEL BLACKBURN Angry Paso Robles downtown merchants are reacting to what many are calling a Memorial Weekend financial disaster triggered by city officials responsible for the sudden departure of one of the nation’s largest car shows. Local business owners are reporting... (Continue reading)

BULLETIN: Paso cops clip “No-Cruise Night”

Written on 23 May, 2008 in Uncovered SLO | 4 comments

By DANIEL BLACKBURN Paso Robles police officials are trying to corral the “First Annual No-Cruise Night” even as the spontaneous resurrection of a 30-year Memorial Weekend tradition gains steam. Participants want to return to Paso Robles one of the largest custom... (Continue reading)

Cruisin oldies plan unsanctioned Paso revival

Written on 21 May, 2008 in Uncovered SLO | 6 comments

By DANIEL BLACKBURN “Old habits like you are hard to break.” - Country western singer Ronnie Milsap. Hold the obituary on Paso Robles’ famous Memorial Weekend custom vehicle cruise. Some longtime participants, quoting Yogi Berra in proclaiming, “It ain’t over ‘til it’s over,”... (Continue reading)

Hurst’s lending practices under scrutiny

Written on 10 May, 2008 in Uncovered SLO | 20 comments

By KAREN VELIE and DANIEL BLACKBURN Hard money lending schemes and questionable business practices have jeopardized hundreds of millions of dollars of investors’ money and placed several San Luis Obispo financial firms directly in the path of a sweeping probe by... (Continue reading)

INSIDE EFI: Under The Microscope

Written on 4 May, 2008 in Uncovered SLO | 80 comments

Part 3: The good times are gone (Editors’ note: This is the third and final article in a series examining the high-rolling, multi-million-dollar Paso Robles financial lender, EFI, and its current problems.) By DANIEL BLACKBURN One of the down sides of divorce is... (Continue reading)

INSIDE EFI: The Long Fall

Written on 3 May, 2008 in Uncovered SLO | 15 comments

Part 2: Maybe money does grow on trees By DANIEL BLACKBURN (Editors' note: This is the second in a series examining the high-rolling, multi-million-dollar Paso Robles financial lender, EFI, and the fascinating reasons for its current critical condition.) When Karen Guth angrily ordered... (Continue reading)

INSIDE EFI: An Investors Nightmare

Written on 1 May, 2008 in Uncovered SLO | 8 comments

Part 1: Divorce sparks nasty public war By DANIEL BLACKBURN (Editors’ note: This is the first in a series examining the high-rolling, high-interest, high-risk, hard money business, and a close-up look at the primary players in one multi-million-dollar Paso Robles firm that... (Continue reading)

Gearhart’s $28 million Paso project imperiled

Written on 29 Apr, 2008 in Uncovered SLO | 17 comments

By DANIEL BLACKBURN and KAREN VELIE It’s only a few second’s drive time between the weathered plywood sign on Paso Robles' Jardine Road announcing the imminent approach of “Vista del Hombre,” and its equally unimpressive, unmarked entrance, but that brief moment... (Continue reading)