Archive for June 27th, 2010

YahooFinance (AP): Mutual fund returns turn negative in 2nd quarter

Investors can expect to see more negative returns on their mutal funds for April-June quarter

Tim Paradis, AP Business Writer,
On Sunday June 27, 2010, 2:23 pm EDT

NEW YORK (AP) — The minus signs are back.

Investors still feeling bruised by the terrible mutual fund returns of 2008 and early 2009 can expect to be disappointed again when they get their statements for the second quarter. While most fund categories did well in the first quarter, during the April-June period there were few places to hide.

The slump wasn’t as steep as in late 2008, when the stock market was crashing during the financial crisis. But it showed that nervous investors have put the market’s recovery on hold.

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Pat Dennen

Sunday, June 27, 2010 – 10:14 a.m.

Retired San Bernardino County Fire Chief Pat Dennen has been appointed Deputy Fire Chief of Operations for the California Emergency Management Agency (Cal EMA).

Cal EMA Fire and Rescue is responsible for management of the day to day operations of the State’s Fire and Rescue Mutual Aid System which has at its disposal a fleet of 129 Cal EMA engines, 12 Cal EMA water tenders, 13 Cal EMA swift water units, 6 Cal EMA communication/ support units and more than 1,000 local government fire engines that can be deployed statewide during major fire sieges and disasters.

Congratulations Pat……

11:21 PM PDT on Saturday, June 26, 2010

The Press-Enterprise

Arrowhead Credit Union, to some, had appeared to be climbing up from the bottom, much like the Inland economy that has shown slight signs of improvement in its long way toward recovery.

But that may not have been enough to prevent the National Credit Union Administration from seizing the well-known San Bernardino-based credit union on Friday.

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SBSun: San Bernardino eyes pension savings

City is looking to trim benefit for future hires
Andrew Edwards, Staff Writer
Posted: 06/26/2010 10:03:17 PM PDT

SAN BERNARDINO – City Hall’s long-range plan to halt growing deficits includes negotiations aimed at whittling away at the retirement benefits that could be owed to future employees.

City employees’ contracts expire at or before the end of this year, and the city’s weakened financial position could be a premise for difficult bargaining sessions.

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SBSun: Oil tax plan at issue

California budget

James Rufus Koren, Staff Writer
Posted: 06/26/2010 07:10:53 AM PDT

This year, oil companies have pumped 29.5 million barrels of oil from Kern County. An additional 3.4 million have come from Los Angeles County.

In San Bernardino County, the total is just 274 barrels, pumped by two tiny oil operations in the Chino Hills area – the hub of the county’s barely existent oil industry.

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June 26, 2010 12:04 PM
Brooke Edwards

VICTORVILLE • The city attorney has taken the position that e-mails sent by council members from their personal accounts are not subject to public records requests, regardless of whether they deal with official city business.

“To me that’s ludicrous,” said Judy Alexander, a Soquel-based attorney who works with the California First Amendment Coalition and filed a request for the records. “I think their interpretation of the law is incorrect.”

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Schools short on reserves for 2012-13
Wes Woods II, Staff Writer
Created: 06/26/2010 07:07:53 AM PDT

CLAREMONT – The school district has passed its three- year budget, but is below the state threshold for reserves in its third year.

This could cause Los Angeles County to get involved in Claremont Unified School District’s operations, but school officials said they doubt that will happen.

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SacBee: Fiorina courts Latino voters

Carly Fiorina

By David Siders
Published: Sunday, Jun. 27, 2010 – 12:00 am | Page 3A

In a bid to reach out to Latino voters, Republican U.S. Senate candidate Carly Fiorina campaigned in Sacramento on Saturday with former Bush administration Commerce Secretary Carlos Gutierrez, a well-known advocate of creating a path to citizenship for illegal immigrants.

But Fiorina declined to say whether she agrees with Gutierrez on the issue.

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LATimes: Whitman’s ad invokes the 1960s — sort of


Her effort to link Jerry Brown to the era is not exactly accurate — and not exactly surprising.

By Cathleen Decker, Los Angeles Times

June 27, 2010

Television screens in California last week were filled with pictures that looked like finds from a time capsule. A McGovern poster. Peace signs. Woodstock-esque views of young people having fun doing who knows what. A war helicopter, vaguely reminiscent of the Vietnam era, arcing sharply as if to avoid fire.

It was not an ad for a documentary on the 1960s or some PBS show on the Vietnam War. It was an ad for Meg Whitman’s campaign for governor.

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LATimes: Undone by their dreams


Drawn by the promise of affordable housing, thousands put down roots in arid Hesperia. But long-term security proved an illusion.
Vacant lots

By Thomas Curwen, Los Angeles Times

June 26, 2010

First of two parts

Dirt is cheap in the Victor Valley, and amid tumbleweeds and rabbit brush, Joshua trees and juniper bushes, home developments rise up like islands where the desert has been rolled back.

About 300,000 people call this region home. Baked in the summer, frozen in winter, it is scoured by winds that sweep down the mountains — and yet they come, drawn by what they can’t find elsewhere in Southern California: the promise of large and affordable houses in clean and safe neighborhoods.

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