Archive for December 14th, 2011

CNNMoney: Existing home sales to be revised lower

By Blake Ellis @CNNMoney
December 13, 2011: 6:51 PM ET

NEW YORK (CNNMoney) — If you thought the U.S. housing market couldn’t get much worse, think again.

Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.

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The State Worker
Chronicling civil-service life for California state workers
December 13, 2011

California’s three largest pension systems have promised $500 billion beyond their current ability to make those payments to retirees, according to a study released to today by Stanford University Professor and former Democratic Assemblyman Joe Nation and a student researcher.

The Stanford Institute for Economic Policy Research issued the report, documenting what it claims is the state’s deepening pension crisis. California Common Sense, an organization dedicated to engaging the public in “data-driven discourse” is also behind the report.

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Rep. Ken Calvert, R-Corona./The Press-Enterprise

The region’s politicians in Washington are split along partisan lines about how to extend tax cuts and jobless aid
BY BEN GOAD
WASHINGTON BUREAU

bgoad@pe.com

Published: 13 December 2011 08:28 PM

WASHINGTON — As the debate over extending a soon-to-expire payroll tax cut and benefits for the unemployed nears a crescendo in Congress, few corners of the nation have more at stake than does economically battered Inland Southern California.

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The PE: S.B. COUNTY: Reform proposals introduced

San Bernardino County Supervisor Janice Rutherford, seen earlier this year, formed an advisory group that urges the Board of Supervisors to adopt reforms that include campaign contribution limits, policing lobbyists and prohibiting supervisors’ staff from working on their political campaigns.//FILE PHOTO

BY IMRAN GHORI
STAFF WRITER
ighori@pe.com

Published: 13 December 2011 08:54 PM

An ethics advisory group formed by San Bernardino County Supervisor Janice Rutherford is proposing a package of reforms that include campaign contribution limits, policing lobbyists and prohibiting supervisors’ staff from working on their political campaigns.

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The PE: S.B. COUNTY: Derry vote still in limbo

County Supervisor Neil Derry
His inclusion on an excluded parties list has forced the supervisor to sit out budget talks (KURT MILLER/STAFF PHOTOGRAPHER)

BY IMRAN GHORI
STAFF WRITER
ighori@pe.com

Published: 13 December 2011 09:50 PM

The recent budget dispute among San Bernardino County supervisors highlighted Supervisor Neil Derry’s continued inability to vote on budget decisions due to criminal charges he faced earlier this year.

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The PE: SB AIRPORT: Hangar landlord files for Chapter 11

Scot Spencer

BY KIMBERLY PIERCEALL
STAFF WRITER
kpierceall@pe.com

Published: 13 December 2011 07:41 PM

The longtime landlord of one of San Bernardino International Airport’s largest hangars has filed for bankruptcy.

The public agency overseeing the airport is owed more than $400,000 in unpaid rent and has filed a suit to formally evict Norton Property Management Services LLC.

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Riverside County supervisors decide that medical marijuana locations will close or face legal action

BY DUG BEGLEY and RICHARD K. DE ATLEY
STAFF WRITERS
dbegley@pe.com | rdeatley@pe.com

Published: 13 December 2011 08:34 PM

Medical marijuana dispensaries operating in unincorporated Riverside County must shut down or face legal action, county supervisors decided Tuesday.

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By Joe Nelson, Staff Writer
Posted: 12/13/2011 06:59:46 PM PST

A group of San Bernardino County public safety employees, including probation officers and district attorney’s investigators, face a 14 percent cut in pay and benefits unless they agree to a previous proposal by the county.

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By Andrew Edwards, Staff Writer
Created: 12/13/2011 06:15:13 PM PST

ONTARIO – A spokesman for Prime Healthcare Services said the company is unaware of any federal investigation or review of its operations following a published report that the FBI has contacted former employees.

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VVDailyPress: Stanton mayor of A.V.

Coleman to serve as mayor pro tem
December 13, 2011 10:02 PM
BY Gretchen Losi

SPECIAL TO THE DAILY PRESS

APPLE VALLEY • Barb Stanton is the new mayor in town, with Ginger Coleman tapped to serve as mayor pro tem.

The two were voted and sworn in at Tuesday’s Town Council meeting.

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California schools, libraries, prisons and disabled services will all be affected — with more to come, Gov. Jerry Brown warns.

By Anthony York and Teresa Watanabe
Los Angeles Times
December 14, 2011

Reporting from Sacramento and Los Angeles — Gov. Jerry Brown announced nearly $1 billion in new state budget cuts, slashing spending on higher education and eliminating funding for free school-bus service but avoiding the deeper reductions to public schools that many had feared.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Wednesday, Dec. 14, 2011 – 12:00 am | Page 3A

California’s public schools received a rare bit of good news Tuesday when Gov. Jerry Brown largely exempted them from automatic reductions in state aid, citing improvements in the economy.

However, Brown’s declaration that the economy is getting better and he doesn’t have to squeeze all automatic spending cut “triggers” also lessened the air of crisis and therefore complicated Brown’s efforts to persuade voters to raise taxes next year.

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Calbuzz: Consultants: Brown’s 1st Year Not Bad, Not Great

Wednesday, December 14, 2011

Jerry Brown’s year one performance as governor has been satisfactory – but hardly stellar, according to the collective wisdom of California’s leading political consultants.

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State Treasurer Bill Lockyer

PolitiCal
On politics in the Golden State
December 13, 2011 | 3:27 pm

The debate over pension reform in California reached a boiling point Tuesday.

State Treasurer Bill Lockyer resigned from a pension advisory panel to protest a study it was affiliated with that called for reducing retirement benefits for current public employees and overhauling the boards that oversee the public pension systems.

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By Ed Mendel
Wednesday, December 14, 2011

The rate hike next July for most of the 2,043 local public pension plans in the giant CalPERS system will be lower than expected — an increase of 1 percent of pay or less for four-fifths of them.

The rates reflect the second year of a radical “smoothing” plan that spreads rate increases from huge investment losses over a three-year period.

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By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Dec. 14, 2011 – 12:00 am | Page 6B

CalPERS reported a $695 million profit from one of its investments Tuesday.

The California Public Employees’ Retirement System said it earned the money from an investment fund that closed down after a 10-year run that ended when it sold its last asset.

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