Archive for February 4th, 2016

InlandPolitics: San Bernardino Election: Beard needs 66.8% of remaining 342 votes

Spin Zone

Thursday, February 4, 2016 – 12:30 p.m.

Yep! The race for San Bernardino 7th Ward city council seat is up in the air.

It sure is.

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Victorville

SCLA leading city’s growth spurt, with more expected

By Shea Johnson
Staff Writer Follow @@DP_Shea
Posted Feb. 3, 2016 at 1:12 PM
Updated Feb 3, 2016 at 5:32 PM

VICTORVILLE — The city touted its economic growth during its annual address Wednesday, announcing that negotiations had concluded to draw a “major” manufacturer to Southern California Logistics Airport that will create 100 new jobs.

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NYSE Trading Floor

Specialist Michael Gagliano, foreground, works with traders at his post on the floor of the New York Stock Exchange, Monday, Feb. 1, 2016. The stock market’s problems likely contributed to lower-than-estimated California income tax revenue in January, the LAO reports. (Richard Drew AP)

Capitol Alert
By Jim Miller
jmiller@sacbee.com
February 3, 2016 3:53 PM

  • Preliminary income tax revenue for January $260 million less than proposed budget estimate
  • Corporation tax for month $93 million above estimates
  • LAO cautions that “continued stock market weakness” could mean lower revenue through June

It’s been a heady ride for California finances in recent years, with budget revenue outpacing estimates by billions of dollars, buoyed along by the state’s healthy economic growth in 2015.

Could that trend be coming to an end?

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Reuters

Wednesday, Feb 3, 2016 – 8:10pm EST
SAN FRANCISCO | By Jim Christie

The bankrupt city of San Bernardino, California, said in a court filing on Wednesday it had reached a tentative agreement with the creditor holding its pension obligation bonds on how the debt would be treated in the city’s plan to exit bankruptcy but did not provide details.

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Wells Fargo

Wells Fargo “engaged in a regular practice of reckless origination and underwriting” of Federal Housing Administration loans, prosecutors alleged. (Ben Margot / Associated Press)

James Rufus Koren
February 3, 2016

Wells Fargo & Co. will pay $1.2 billion to settle claims that it duped the federal government into insuring thousands of risky mortgages in the years leading up to the housing crash, the San Francisco banking giant said Wednesday.

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