Archive for July 28th, 2012

LATimes: Newsom calls eminent domain plan in San Bernardino County ‘bold’

California Lt. Gov. Gavin Newsom believes a plan under consideration by Inland Empire communities to seize and restructure troubled mortgages deserves a look. (Brian van der Brug / Los Angeles Times)

By Alejandro Lazo
July 27, 2012, 4:36 p.m.

One of California’s highest-ranking politicians, Lt. Gov. Gavin Newsom, has told an investor group to “back off” and allow San Bernardino County to explore a controversial plan that would employ its eminent domain powers to seize and restructure troubled mortgages.

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The front entrance to the Pechanga Resort & Casino in Temecula.(File Photo)

 

RICHARD K. De ATLEY, STAFF WRITER
rdeatley@pe.com
Published: 26 July 2012 05:29 PM

A mistrial was declared Thursday, July 26 in the trial of an insurance broker and the former chief financial officer for Pechanga Resort & Casino who were charged with bilking the tribe out of about $4 million in what prosecutors describe as an overcharging scam.

Jurors were deadlocked after about a day and a half of deliberations and multiple votes. On Thursday the panel heard nearly two hours of re-read testimony before the foreman handed Riverside County Superior Court Judge Elisabeth Sichel a note saying they could not agree on verdicts.

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PolitiCal
On politics in the Golden State
July 27, 2012 | 7:35 pm

Gov. Jerry Brown has quietly handed out pay raises to three of his aides in recent months before pushing through pay cuts for most other state workers, including his staff.

Brown has asked employees in his office to take the same roughly 5% pay cut hitting other state workers, but a spokeswoman said raises were justified for three staffers because they were underpaid for the jobs they did.

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Facebook will free up nearly 1.7 billion shares — four times the number now trading — starting next month as provisions that barred employees from selling their holdings begin to expire.

 

By Walter Hamilton and Ryan Faughnder, Los Angeles Times
July 28, 2012

Think the plunge in Facebook’s stock after its sluggish earnings report was bad? Wait until a torrent of new shares hits the market in a few weeks.

Facebook will free up nearly 1.7 billion shares — four times the number now trading — starting next month as provisions that had barred employees from selling their holdings begin to expire.

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