Sunday, December 22, 2012 – 11:30 a.m.
The U.S. Treasury has announced it will begin to liquidate its stake in General Motors at a huge loss. A loss so significant it will likely wipe out any profit from the bank bailout.
4 Comments
Archive for December 22nd, 2012
Saturday, December 22, 2012 – 08:30 a.m.
San Bernardino received a reprieve in U.S. Bankruptcy proceedings yesterday. Even though a temporary one.
A U.S. Bankruptcy Judge ruled the city, for the time being, can’t be sued for past due and ongoing obligations it owes its pension fund, the California Public Employees Retirement System (CalPERS).
Filed under: Budget, CalPERS, Cities, Courts, Finance, Legal, Libertarian, Pension Funds, Pensions, San Bernardino, State of California, U.S. Bankruptcy Court
Saturday, December 22, 2012 – 08:00 a.m.
The bankruptcy saga of San Bernardino, California continues to have an unusual twist.
That being the city’s woe-is-me excuse for not paying its post-bankruptcy creditor and pension obligations.
Ryan Hagen, Staff Writer
Posted: 12/21/2012 12:08:19 PM PST
RIVERSIDE – San Bernardino scored a victory in bankruptcy court Friday, as Judge Meredith Jury refused a motion by CalPERS that would have allowed the pension giant to sue in state court for millions of dollars in payments the city has stopped making.
Municipalities were to give California money that had been set aside for affordable housing. But some cities refused to do so.
By Abby Sewell and Nicole Santa Cruz, Los Angeles Times
December 21, 2012, 10:18 p.m.
Cities and counties across California faced a Friday deadline for handing over millions of dollars — tens of millions in some cases — as the state winds down more than 400 redevelopment agencies.
Filed under: Budget, Cities, Finance, In the News, Legal, Local Government, Redevelopment, State of California
Retailers ramp up hiring, but November payrolls shrink overall, the state says. One expert says more Californians are becoming self-employed. Another expects the payroll report to be revised.
By Ricardo Lopez, Los Angeles Times
December 21, 2012, 5:52 p.m.
California’s unemployment fell below 10% in November for the first time in almost four years, thanks in part to a holiday hiring surge by retailers.