Archive for November 30th, 2011

Forbes: Stocks Surge As Bernanke, ECB Throw More Dollars At Europe’s Crisis

Federal Reserve Chairman Ben Bernanke (Image by Getty Images via @daylife)

Wednesday, November 30, 2011

Wall Street enjoyed a big jump Wednesday morning, after a coordinated action by central banks around the world to provide more liquidity to the global financial system.

The U.S. Federal Reserve, after a similar effort in September, will “lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points.”

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InlandPolitics: ‘Gaff’man Perry needs to go as well

Wednesday, November 30, 2011 – 02:10 p.m.
Last Modified: Thursday, December 1, 2011 – 08:00 a.m.

It’s bad enough that Herman Cain, at least, appears to have a problem.

Now it’s becoming clear that Texas Governor and Republican candidate for President of the United States, Rick Perry, needs to go back home to Austin.

Perry, who can’t seem to go a few days without blowing it either during debates or on the campaign trail, pushed the stupidity button once again this week.

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Wednesday, November 30, 2011 – 02:00 p.m.

The Dow Jones Industrial Average climbed nearly 500 points on Wednesday on news the U.S. Federal Reserve will drop the rate foreign banks pay it to exchange the euro for the U.S. Dollar.

In other words, a promise to artificially print more money by doing nothing more than pushing buttons on a computer.

The move up, once again, brings stocks to the unchanged level for the year.

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A defendant in the Colonies corruption case wins the unsealing of comments from a different grand jury

BY IMRAN GHORI
STAFF WRITER
ighori@pe.com

Published: 29 November 2011 09:29 AM

A San Bernardino County judge on Tuesday ordered the grand jury testimony of a former county official unsealed as part of a government corruption case.

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Joe Nelson, Staff Writer
Created: 11/29/2011 10:37:41 PM PST

A San Bernardino Superior Court judge on Tuesday ordered that the Grand Jury testimony of a former county official be unsealed.

Judge Michael A. Smith ordered the release of transcripts of testimony given by Jim Lindley, the county’s former public health director and former director of purchasing, before the county’s civil Grand Jury on April 21.

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The PE: YUCAIPA: Mayor Dick Riddell appointed to 14th term

BY DARRELL R. SANTSCHI
STAFF WRITER
dsantschi@pe.com

Published: 29 November 2011 01:50 PM

Dick Riddell, a 30-year Yucaipa resident who retired from an engineering firm to devote full time to local politics, has been reappointed to a 14th term as the city’s mayor.

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The PE: RIVERSIDE: Charter review process nearly done

BY ALICIA ROBINSON
STAFF WRITER
arobinson@pe.com

Published: 29 November 2011 01:45 PM

Proposals that would create a citizens audit committee and have Riverside’s auditor report to the City Council rather than the city manager survived another round of discussion by the charter review committee, bringing them a step closer to the June 2012 ballot.

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Andrew Edwards, Staff Writer
Posted: 11/29/2011 10:37:42 PM PST

San Bernardino is among the state’s most costly cities to do business in, according to a new survey examining municipalities’ taxes and fees.

Claremont McKenna College’s Rose Institute of State and Local Government and Kosmont Cos. produced the survey.

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Josh Dulaney, The (San Bernardino County) Sun
Posted: 11/29/2011 08:03:09 PM PST

SAN BERNARDINO – A lease agreement for a new downtown movie theater was approved Tuesday night.

The board of the Economic Development Corporation – the nonprofit agency which has had oversight of redevelopment here since March – voted 4-0 to approve a 10-year lease agreement with Regal Entertainment Group.

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LATimes: Bullet train funding plan faulted

The Legislative Analyst’s Office says the financing plan does not fulfill key requirements of the ballot measure voters approved to authorize the project.

By Dan Weikel, Los Angeles Times
November 30, 2011

The funding plan for the California bullet train does not comply with key provisions of a ballot measure that voters approved to authorize the project and $9 billion in state bonds to help finance it, according to a report released Tuesday.

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By Torey Van Oot
tvanoot@sacbee.com
Published: Wednesday, Nov. 30, 2011 – 12:00 am | Page 1A
Last Modified: Wednesday, Nov. 30, 2011 – 9:44 am

Dozens of state legislators are turning in their car keys this week, as a decades-old program providing them with state-purchased vehicles comes to an end.

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Newt Gingrich and Mitt Romney

By Dan Smith
smith@sacbee.com
Published: Wednesday, Nov. 30, 2011 – 12:00 am | Page 3A
Last Modified: Wednesday, Nov. 30, 2011 – 8:16 am

California Republicans still favor former Massachusetts Gov. Mitt Romney in the GOP’s presidential primary sweepstakes, but they have a new No. 2: Newt Gingrich.

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