Archive for October 2nd, 2014

The Sun: Agreement between San Bernardino and police union breaks down

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 10/01/14, 9:17 PM PDT | Updated: 31 mins ago

SAN BERNARDINO >> A tentative agreement between the city and the police union that both sides trumpeted months ago has broken down, union president Steve Turner said Wednesday.

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Paul Chabot

Paul Chabot

By Sandra Emerson, Redlands Daily Facts
Posted: 10/01/14, 7:46 PM PDT | Updated: 44 secs ago

SAN BERNARDINO>> Republican Congressional candidate Paul Chabot, surrounded by friends and supporters at the TVC Mas Latino Studios in San Bernardino, spoke out against a recent rash of political mailers which he called “racist” and “sexist.”

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Home Construction

Construction workers pour a concrete slab for a home under construction in Rancho Cucamonga on Wednesday. The median price for a single-family home in the Inland Empire rose 16.5 percent, to $267,000, in the space of a year. (Will Lester – staff photographer)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/01/14, 8:05 PM PDT | Updated: 1 min ago

A new report on the Inland Empire economy released Wednesday by the Los Angeles-based economic research firm Beacon Economics finds home prices rising in a region experts say is a major growth area for the state.

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CapitolWeekly: Referendum sought on plastic bag ban

Capitol Weekly

by SAMANTHA GALLEGOS posted 09.30.2014
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The ink was barely dry on the governor’s signature to ban plastic bags when foes of his decision filed paperwork with the state attorney general’s office for a referendum in 2016 to overturn the new law.

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US Bankruptcy Court

Stockton, Calif., faced a $1.6 billion termination fee from Calpers if it dropped out of the state pension system.

Restructuring & Bankruptcy
By Mary Williams Walsh
October 1, 2014 9:15 pmOctober 1, 2014 9:15 pm

A federal bankruptcy judge on Wednesday upended the widely held belief that public workers’ pensions have a special status in California that makes them impossible to cut, further chipping away at the idea that pensions are sacrosanct in a municipal bankruptcy.

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AP: Ruling lets bankrupt city cut pension benefits

judges-gavel

AP California News
Oct 2, 9:28 AM EDT

By DON THOMPSON
Associated Press

SACRAMENTO, Calif. (AP) — U.S. bankruptcy law allows the California city of Stockton to cut pension benefits because it can treat its obligations to the public retirement fund like other debts, a federal judge said in a ruling that could help clarify who gets paid first by financially strapped cities around the nation – pension funds or creditors.

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San Bernardino Seal

The City of San Bernardino may benefit from a recent ruling about paying pensions in the city of Stockton.

By Ryan Hagen, Press-Telegram
Posted: 10/01/14, 11:38 PM PDT |

A decision Wednesday by the judge at Stockton’s bankruptcy trial that allows bankrupt cities to treat the California Public Employees’ Retirement system like other debtors might open the door for other insolvent cities that could want to cut back on expensive pension obligations — including San Bernardino.

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Housing Bubble

Los Angeles and Orange Counties are two of the three most overvalued housing markets in the country, according to a new report from Trulia.

By Tim Logan
October 2, 2014

Southern California’s housing markets are among the most overvalued in the nation, according to a new report. But the closest thing in this country to a housing bubble is actually in Texas.

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