Archive for April 29th, 2013

InlandPolitics: A shoe finally drops in Victorville, SEC files fraud suit

U.S. SEC

Monday, April 29, 2013 – 12:30 p.m.

A shoe has finally dropped in the ongoing financial escapades of Victorville, California.

The U.S. Securities and Exchange Commission (SEC), announced in a press release Monday, that it has filed a civil fraud lawsuit against the city of Victorville and investment banking firm Kinsell, Newcomb and DeDios (KND).

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InlandPolitics: Did anyone expect a different outcome?

Lakers

Monday, April 29, 2013 – 08:30 a.m.

The Los Angeles Lakers were blown out of the NBA playoffs by the San Antonio Spurs on Sunday.

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Jerry Brown

Gov. Jerry Brown’s proposed budget contains no provision for a reserve. Without a financial cushion, some say, California may be more vulnerable to drops in revenue.

By Chris Megerian, Los Angeles Times
April 28, 2013, 4:14 p.m.

SACRAMENTO — Arnold Schwarzenegger persuaded voters nine years ago that if they let him borrow money to cover the budget deficit, California’s financial woes would end for good. A key part of his plan was a new rainy-day fund to insulate the state from further crisis.

“It will be a whole new ball game,” Schwarzenegger said. “Trust me.”

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California Assembly Seal

AB 10, which would give California its first minimum wage increase since 2008, was approved by the Assembly Labor and Employment Committee on a party-line vote.

By Marc Lifsher, Los Angeles Times
April 29, 2013

SACRAMENTO — California’s $8-an-hour minimum wage needs to go up, says Watsonville Democratic Assemblyman Luis Alejo. And he may be getting the votes he needs to make it happen.

But don’t count on it; Alejo has tried this before.

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health-care-reform

By Ed Mendel
Monday, April 29, 2013

With pensions presumably shored up by Gov. Brown’s reform and a CalPERS rate hike, will the problem-solving trend spread to what is, by some measures, an even bigger retirement debt: health care promised state workers?

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Politico: Democrats ask: What debt crisis?

Politico

By BEN WHITE and TARINI PARTI | 4/28/13 2:29 PM EDT

Call them the debt crisis dissenters.

The two parties are miles apart on how to cut the deficit and national debt: Republicans want to slash spending even more. Democrats want to raise revenue.

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