Archive for November 19th, 2010

LATimes: California begins a new era in redistricting

Eight ordinary voters are chosen by lottery from among 36 applicants to serve on a panel to redraw political boundaries. They will pick six more from the same pool. The shift upends a system long friendly to incumbents.

By Patrick McGreevy, Los Angeles Times
November 18, 2010|7:09 p.m.

Reporting from Sacramento —

A handful of everyday Californians were chosen Thursday to tackle the politically incendiary task of redrawing the state’s voting districts — a job that voters decided to take away from political insiders.

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LATimes: California begins a new era in redistricting

Eight ordinary voters are chosen by lottery from among 36 applicants to serve on a panel to redraw political boundaries. They will pick six more from the same pool. The shift upends a system long friendly to incumbents.

By Patrick McGreevy, Los Angeles Times
November 18, 2010|7:09 p.m.

Reporting from Sacramento —

A handful of everyday Californians were chosen Thursday to tackle the politically incendiary task of redrawing the state’s voting districts — a job that voters decided to take away from political insiders.

Read the rest of this entry »

By Dale Kasler
dkasler@sacbee.com
Published: Friday, Nov. 19, 2010 – 12:00 am | Page 6B

A financier who has invested tens of millions of dollars for CalPERS was sued Thursday in a probe of corruption at New York state’s public pension fund.

Steven Rattner, accused of bribing officials in New York, briefly served as President Obama’s “car czar,” overseeing the bailout of General Motors. He was sued the same day GM’s stock went public again – a move seen by many as a vindication of the bailout.

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With some investors reluctant to buy, the state is forced to raise its rates to sell $10 billion in short-term debt.

By Tom Petruno, Los Angeles Times
November 19, 2010

California was forced to boost interest rates on $10 billion in short-term debt it sold Thursday, another sign of the turmoil racking the municipal bond market.

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LATimes: California home prices and sales slip in October

The statewide median price edges down 0.4% from a year earlier, breaking an 11-month streak of year-over-year gains. In the Southland, the median price is up 1.1%.

By Alejandro Lazo, Los Angeles Times
November 19, 2010

California home prices fell in October as sales continued to edge lower.

The state’s median home price was $256,000 last month, a 0.4% drop from October 2009, marking the end of 11 consecutive months of year-over-year gains, San Diego real estate research firm MDA DataQuick reported Thursday. The median price — which is the point at which half the homes sold for more and half for less — was also down 3.4% compared with a month earlier.

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CCTimes: Jobless benefits to expire as Congress debates tax

By Andrew Taylor Associated Press
Posted: 11/18/2010 05:49:10 PM PST
Updated: 11/18/2010 05:49:10 PM PST

WASHINGTON — Jobless benefits will run out for 2 million people during the holiday season unless they are renewed by a Congress that’s focusing more attention on a quarrel over preserving tax cuts for people making more than $200,000 a year.

It’s looking iffy at best whether Congress will renew jobless benefits averaging $310 per week nationwide that are presently claimed by almost 5 million people who have been out of work for more than six months.

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