Archive for June 30th, 2012

VVDailyPress: Details on grand jury’s Victorville investigation

  • Written by Administrator
  • Posted June 30, 2012 at 1:01 pm

 

June 29, 2012 1:11 PM
Brooke Edwards Staggs

The San Bernardino County Grand Jury issued a 100-page report Friday blasting Victorville for decisions that have jeopardized the city’s solvency, including mishandling bond funds, losing track of $13 million and potentially breaking the law by financing failed energy ventures with restricted money. Read more about the report here and read the entire report here.

Here are the five areas of concern cited by the grand jury. Click on the headlines below each section to read related background stories:

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Filed under: Budget, Cities, County of San Bernardino, Finance, In the News, Investments, Legal, Local Government, Redevelopment, U.S. Department of Justice, U.S. Government, U.S. Securities and Exchange Commission, Victorville

VVDailyPress: VVCH agrees to purchasing deal by KPC

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  • Posted at 12:54 pm

VVCH creditors initiated renegotiation
June 29, 2012 4:50 PM
Tomoya Shimura, Staff Writer

VICTORVILLE • In a surprising turn of events, bankrupt Victor Valley Community Hospital agreed to a $33.8 million purchasing offer by Riverside-based KPC Global medical group, who had once failed to close out a deal.

Judge Catherine Bauer approved their agreement Wednesday for the second time at the federal bankruptcy court in Santa Ana. The judge also approved KPC to lend $4 million to keep the hospital open until the deal seals. Now it’s up to California Attorney General Kamala Harris to give the final go sign.

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Filed under: Business, Cities, Courts, Elections, In the News, Legal, U.S. Bankruptcy Court, Victorville

The PE: SAN BERNARDINO COUNTY: Finance industry opposes eminent domain fix

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  • Posted at 12:51 pm

A coalition of 18 financial industry trade groups warned San Bernardino County that a proposal to use eminent domain to seize mortgage loans could make it harder for others to get loans.

 

BY IMRAN GHORI
STAFF WRITER
ighori@pe.com

Published: 29 June 2012 05:02 PM

A coalition of financial industry trade groups raised strong objections this week to a proposal being considered by San Bernardino County to use eminent domain to seize underwater mortgage loans.

In a letter to the San Bernardino County Board of Supervisors and Fontana and Ontario city councils dated Thursday, June 28, the groups state that the program intended to help homeowners could actually end up harming them.

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Filed under: Board of Supervisors - San Bernardino County, Business, County of San Bernardino, Economy, Finance, In the News, Real Estate

SacBee: Judge halts Jerry Brown’s move to take top spot on ballot

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  • Posted at 12:45 pm

By Kevin Yamamura
kyamamura@sacbee.com
Published: Saturday, Jun. 30, 2012 – 12:00 am | Page 3A

A Sacramento judge on Friday halted Gov. Jerry Brown’s drive to place his tax initiative atop the November ballot as the court examines recent signature counting and a new law intended to give his measure a leg up.

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Filed under: Budget, Campaigns, Courts, Education, Elections, Finance, In the News, Legal, Politics, State of California, State Superior Court

LATimes: Congress passes transportation bill, halts student loan rate hike

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  • Posted at 12:39 pm

By Richard Simon
June 29, 2012, 2:17 p.m.

WASHINGTON — Congress, in a rare display of bipartisanship, on Friday sent to President Obama a roughly $105-billion transportation bill that lawmakers from both parties touted as perhaps the largest jobs measure of the year.

The measure also would avert a doubling of interest rates for millions of college student loans that was due to take effect Sunday.

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Filed under: Economy, Education, Finance, In the News, Politics, Transportation, U.S. Government, U.S. House of Representatives, U.S. Senate