Archive for the ‘ Business ’ Category

SacBee: California saw ‘striking’ job gains in November

Jobs

State added more than 90,000 jobs in one month
By Hudson Sangree –
hsangree@sacbee.com
12/19/2014 10:00 AM | Updated: 12/19/2014 8:58 PM

Recovering from the Great Recession has been slow and uncertain for many Californians, especially in the Central Valley. But a state labor report released Friday provided evidence that the Sacramento region is now adding higher-paying jobs.

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LATimes: Business groups cheer Obama’s move to normalize Cuba relations

Cuba

General Motors could eventually export vehicles to Cuba, a nation filled with aging relics. (Ernesto Mastrascusa, EPA)

By Andrew Khouri
December 17, 2014

President Obama’s decision to start normalizing relations with Cuba gives American business a fresh opportunity on an island once known as a travel hub for the U.S. jet set.

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Inflation

By Jim Puzzanghera
December 17, 2014

Plunging gasoline costs led to the largest drop in consumer prices in six years last month and added another complication for Federal Reserve policymakers as they try to determine when to start raising interest rates.

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federal reserve

By Jim Puzzanghera,
December 17, 2014

The American economic outlook, bolstered by robust job growth and a sharp drop in gasoline prices, was boosted a little more with the Federal Reserve’s signal that it would take as long as three years to raise interests to once-normal levels.

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LATimes: Southland home prices hit plateau

For Sale

The California Assn. of Realtors is predicting prices will grow 5.2% statewide next year, the slowest pace since 2011.

By Tim Logan
December 15, 2014

After a furious run-up in home prices in 2013, the Southern California housing market flattened out this year — setting the stage for slow but steady growth next year.

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LATimes: Financially troubled Adelanto approves plan to build another jail

Adelanto Prison Facility

Detainees walk down a hallway at an immigrant detention facility in Adelanto. The Adelanto City Council approved an agreement to build a new 3,264-bed jail on the edge of town. (Cheryl A. Guerrero / Los Angeles Times)

By Kate Linthicum
December 13, 2014

The cash-strapped city of Adelanto, already home to three detention facilities, has approved a plan to build another.

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Bloomberg/Businessweek: Verizon’s New, Encrypted Calling App Plays Nice With the NSA

Cell Phone Encryption - NSA

Verizon’s New, Encrypted Calling App Plays Nice With the NSA

Bloomberg-Businessweek

By Joshua Brustein
December 11, 2014

Verizon is the latest big company to enter the post-Snowden market for secure communication, and it’s doing so with an encryption standard that comes with a way for law enforcement to access ostensibly secure phone conversations.

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CCTimes: House members urge AG to nix hospital sale

Prime Healthcare

By Josh Richman
Thursday, December 11th, 2014 at 12:34 pm

Rep. Mike Honda and Rep. Zoe Lofgren led 16 other California House members Thursday in urging California Attorney General Kamala Harris to reject the sale of six Daughters of Charity Health System hospitals to a for-profit company they say has a history of unfair business practices.

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LATimes: Disney, Koch used secret tax deals routed through Luxembourg, report says

Walt Disney Company

A investigative news report said Walt Disney Co. was among more than two dozen firms that engaged in complex deals in Luxembourg to avoid U.S. taxes.

By Dean Starkman
December 10, 2014

Walt Disney Co., giant conglomerate Koch Industries Inc. and other companies channeled hundreds of millions of dollars in profits through units based in Luxembourg in secret deals designed to avoid paying U.S. taxes, according to a new report.

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VVDailyPress: BREAKING: Victorville opposes Adelanto jail plan

Victorville

City urges delay amid call for talks, volunteers to help change property tax formula

SHEA JOHNSON
STAFF WRITER
Posted Dec. 9, 2014 @ 6:55 pm
Updated Dec 9, 2014 at 6:58 PM

VICTORVILLE — Calling for a valleywide discussion regarding the number of correctional facilities in the area, the city announced late Tuesday that it was “fundamentally opposed” to a proposed prison to house Los Angeles County inmates near the Adelanto-Victorville border.

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VVDailyPress: Prime Healthcare plans IPO by 2017 amid fast-moving expansion, CEO says

Prime Healthcare Services

SHEA JOHNSON
STAFF WRITER
Posted Dec. 8, 2014 @ 5:17 pm
Updated Dec 8, 2014 at 5:21 PM

VICTORVILLE — Prime Healthcare CEO Dr. Prem Reddy said Monday that the fifth-largest hospital system in the U.S. plans to go public in the next two to three years.

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VVDailyPress: SCLA buildout continues

SCLA

By STAFF REPORTS
Posted Dec. 8, 2014 @ 4:08 pm
Updated Dec 8, 2014 at 4:11 PM

VICTORVILLE — The largely occupied Southern California Logistics Airport is going to boast a new industrial building on 22 acres that will help provide additional space to accommodate demand, a joint venture company announced Monday.

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freddie-mac-fannie-mae-logo

On Monday, Fannie Mae and Freddie Mac announced details of programs to back mortgages with down payments as low as 3%.

By Jim Puzzanghera, E. Scott Reckard
December 9, 2010

Housing finance giants Fannie Mae and Freddie Mac on Monday detailed plans to once again back mortgages with down payments as low as 3%, saying the move to make home ownership more accessible contains safeguards to protect against abuses that led to the subprime housing market crash.

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InlandPolitics: Newspaper decline continues

newspaper

Saturday, December 6, 2014 – 11:00 a.m.

The sad steady decline in newspaper circulation continues to pressure publications nationwide, and in the Inland Empire.

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The Sentinel

By Richard Sierra, Business Manager
Laborers International Union of North America, Local 783
Posted on December 5, 2014

(December 2) Recently, Congressman Paul Cook sent a letter to the US Department of the Interior recommending against any further federal environmental review of the water project proposed by local renewable resources company Cadiz, Inc. This new position of support by Congressman Cook is a logical and positive change; one that promotes economic growth, jobs and safe water resource conservation. It is a welcome development for those of us fighting for sustainable economic development in the Inland Empire.

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LATimes: Southland adding jobs at rapid pace but many have low pay, reports say

Best Buy

Projections show that more than 70% of total job openings through 2018 will be in occupations that require no college degree, including those in retail. Above, employees of a Best Buy store in Culver City hand out coupons to shoppers waiting in line on Thanksgiving. (Marcus Yam, Los Angeles Times)

Andrea Chang
December 4, 2014

Southern California job creation has grown rapidly over the last two years, but the recovery has been dominated by lower-paying service jobs in retail and food services, according to new research.

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LATimes: O.C. Register, Riverside Press-Enterprise lay off 100 employees

Orange County Register

The Press-Enterprise

Orange County Register Publisher Richard Mirman said in a memo to employees that layoffs at the Register and Riverside Press-Enterprise are part of an attempt “to ‘right size’ the business back to appropriate levels.”

Freedom Communications lays off 100 employees
By Tiffany Hsu contact the reporter

Freedom Communications, the parent company of the Orange County Register and the Riverside Press-Enterprise, is laying off about 100 non-newsroom employees Wednesday.

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Tax Cut

By Jim Puzzanghera
December 3, 2014

The House overwhelmingly approved a one-year extension of $45 billion in tax breaks, mostly for businesses, after bipartisan efforts on a longer-term extension fell apart close to deadline.

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The PE: ONTARIO: Passenger numbers rise again at airport

Ontario International Airport

Ontario International Airport reports more passengers, with Aeromexico and Volaris flights to Guadalajara contributing to the uptick. The airport saw 3.42 million travelers from January to October, compared to 3.28 million last year. (David Bauman – Staff Photographer)

Published: Dec. 1, 2014 Updated: 8:36 p.m.

Passenger use at Ontario International Airport continues to rise, with a 4.11 percent increase since the first of the year, while October had the largest single-month increase of 2014, at 7.68 percent.

To read story by Richard K. De Atley in The Press Enterprise, click here.

LATimes: Lower oil prices will help U.S. economy, two top Fed officials say

Oil Well

An oil well near Tioga, N.D., in August 2013. (Karen Bleier / AFP/Getty Images)

By Jim Puzzanghera
December 1, 2104

Two top Federal Reserve policymakers said Monday that falling oil prices will help the U.S. economy even though the drop adds to concerns about low inflation.

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LATimes: Black Friday weekend sales slump amid holiday bargain marathon

down-arrow

Total spending during the Black Friday shopping weekend was forecasted to drop to $50.9 billion, down from $57.4 billion last year.

By Shan Li and Javier Panzar
November 30, 2014

Holiday promotions that debuted as early as October led to a sharp decrease in Black Friday weekend sales, as some consumers took a breather from buying, according to industry data released Sunday.

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The Sun: Fired San Bernardino County union head responds to embezzlement allegations

SBPEA

By Joe Nelson, The Sun
Posted: 11/27/14, 11:13 AM PST |

The former general manager of the San Bernardino County Public Employees Association, responding to a lawsuit filed against him by the union, denies allegations he misappropriated or embezzled hundreds of thousands of dollars.

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NYSE Floor Trader

Reuters/Reuters – A trader watches the screen at his terminal on the floor of the New York Stock Exchange in New York October 15, 2014. (REUTERS/Lucas Jackson)

By Lionel Laurent | Reuters – Fri, 28 Nov, 2014

LONDON (Reuters) – A fresh slide in the price of crude wiped tens of billions of dollars off oil companies’ market value on Friday and signalled an end to the sector’s safe-haven status, as fears mounted over future profits and dividend payouts.

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LATimes: Lackluster consumer income and spending point to a slowing economy

Retail Sales

Consumers are in a buying mood, economists said, but they’re limiting spending because their incomes are not rising very fast. Above, accessories are displayed for sale at a store in New York. (Victor J. Blue / Bloomberg)

By Jim Puzzanghera
November 26, 2014

The economy just posted its best six-month stretch in 11 years, the labor market is on a record streak of job creation and gas prices are falling. But consumers — a key driver of U.S. economic growth — have not yet fully joined the party.

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LATimes: Economy grows at stronger-than-expected 3.9% pace in third quarter

Ford Dearborn Assembly Plant

Ford F-150s move along the production line at the Dearborn Truck Plant in Dearborn, Mich., on Nov. 11. (Paul Sancya / Associated Press)

By Jim Puzzanghera
November 25, 2014

The economy grew faster in the third quarter than initially thought, expanding at a solid 3.9% annual rate, the Commerce Department said Tuesday.

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Bloomberg: California Pension Fund Bonus Payouts Climb 14% From Prior Year

calpers

By Michael B. Marois
Nov 24, 2014 – 10:49 AM PT

The $300 billion California Public Employees’ Retirement System, the largest U.S. public pension, paid $9 million in bonuses last fiscal year, up 14 percent from a year earlier as earnings exceeded benchmarks.

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InlandPolitics: Opinion: Waiting for the other shoe to drop on Prisonville

hour-glass

Saturday, November 22, 2014 – 12:00 p.m.

It really looks as if Prisonville, commonly known as the city of Adelanto, is going to welcome construction of a couple more private prison facilities.

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Cocaine

Thursday, November 20, 2014 – 01:30 p.m.
Last Modified: Saturday, November 22, 2014 – 11:15 a.m.

It appears a player in Inland Empire political races “quietly” hit a bump in the road last year.

Read the rest of this entry »

unemployment

By Tiffany Hsu
November 21, 2104

The California unemployment rate held steady at 7.3% in October, even as the state generated the largest increase in jobs in the nation.

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The Sun: Adelanto Council approves two more prisons

Prisonville

By Joe Nelson, The Sun
Posted: 11/20/14, 12:25 AM PST | Updated: 47 secs ago

ADELANTO >> The City Council late Wednesday night and early Thursday morning tentatively approved a fourth and fifth private prison in this High Desert community, which will bring with them six additional sheriff’s deputies for the city.

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$3.3 Billion

That’s how much customers must pay for nuclear power plant’s closure.

BY AARON ORLOWSKI / STAFF WRITER
Published: Nov. 20, 2014 Updated: 11:24 p.m.

Electricity customers will pay $3.3 billion for the premature closure of the San Onofre nuclear power plant, according to a settlement approved Thursday.

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LATimes: Southland employers expect 4.8% hike in health-benefit costs

Kaiser Permanente

Kaiser Permanente covers 7.3 million Californians. A company official said the HMO’s rate hikes for employers are running slightly below the 5% trend nationally and in California. (Bryan Chan / Los Angeles Times)

By Chad Terhune
November 19, 2014

Southern California employers expect their health-benefit costs to rise 4.8% next year as the economy recovers and mandates under the federal health law kick in, a new survey shows.

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InlandPolitics: Victorville SEC case has murky undercurrent

Victorville
Note: This is the first in a series of several related posts

Sunday, November 16, 2104 – 12:00 p.m.

Unsettling information pretaining to onging civil litigation involving the 2008 sale of bonds related to the construction of four large aircraft maintenance hangars at Victoville’s Southern California Logistics Airport (SCLA) has started to go public.

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IEBusinessDaily: San Bernardino Continues Self-Immolation

Inland-Empire-Political-News-Political-Whispers

IE Business Daily

November 15, 2014

The City of San Bernardino has a long history of rejecting private investment opportunities within her boundaries. Opposition to private development both large and small have ranged from objections to minor land use changes to the adoption of strict foothill development codes to rejection of the reuse of existing railroad right of ways for an intermodal facility at former Norton Air Force Base.

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Ontario International Airport

A passenger jet on approach to L.A./Ontario International Airport. (Staff file photo)

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 11/14/14, 1:28 PM PST | Updated: 54 secs ago

Admitting fault, attorneys for Ontario contended Friday that the Ontario airport never was sold to Los Angeles because the procedures followed by the local electors were flawed.

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Orange County Register

Newspaper boxes outside the Orange County Register in Santa Ana. (Don Bartletti / Los Angeles Times)

By Andrew Khouri
November 14, 2014

The Orange County Register is now asking its reporters and other staff members to deliver papers.

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UTSanDiego: Why millennials don’t buy homes

Millennials

By Jonathan Horn
Nov. 14, 2014 – 01:47 p.m.

Whether it’s a scar from the Great Recession, being overwhelmed with student loan debt, or having the ability to move for a career, America’s generation of young professionals just aren’t buying homes the way their parents did, a UBS executive said in La Jolla Thursday.

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SacBizJournal: California moves up slightly on Forbes best states for business list

Forbes

Allen Young, Staff Writer
Sacramento Business Journal
Nov 12, 2014 – 2:37pm PST

Although the state’s political stage is still filled with bickering over whether the California comeback is real, another economic snapshot has reinforced some optimism: California has advanced two slots to No. 37 on the Forbes ” Best States for Business and Careers” list.

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For Sale

After years of boom and bust, home prices and sales in Southern California are now responding to the very thing they should: job and income growth, not loose lending standards or investors, economists and real estate analysts say.

By Andrew Khouri
November 12, 2014

The Southern California housing market took a step back last month, as home sales fell and price gains slowed. But homeowners shouldn’t despair and would-be buyers might even rejoice, analysts say.

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repeal

By Kevin Drawbaugh
Wed Nov 12, 2014 – 6:53pm EST

Washington–

(Reuters) – Republicans in the U.S. Congress will soon move to kill a medical device tax imposed less than two years ago under President Barack Obama’s healthcare law, congressional aides and analysts said on Wednesday.

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InlandPolitics: Local newsroom troubles again

Editing

Monday, November 10, 2014 – 08:45 a.m.

More troubles emerge in a local Inland Empire newsroom.

Once again, pressure is being exerted to kill or undermine stories affecting certain politicos.

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LATimes: Job gains were solid in October but wage growth still lags

Economy

By Jim Puzzanghera
November 7, 2014

October’s solid labor market growth of 214,000 net new jobs helped push the unemployment rate to a six-year low, but wasn’t strong enough to boost workers’ wages significantly, economists said.

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DailyBulletin: Stifel emerges as the largest public finance group in California

Stifel Financial

By Kevin Smith, San Gabriel Valley Tribune
Posted: 11/06/14, 5:13 PM PST |

Edward De La Rosa knows a thing or two about selling bonds.

As founder and president of Los Angeles-based De La Rosa & Co., he has helped entities like the University of California, the city of Los Angeles and Los Angeles International Airport obtain funds to build needed projects.

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LATimes: First-time home buying hits lowest level in nearly three decades

Home for sale

A home for sale in Huntington Beach in May. Just one-third of homes bought this year went to first-time buyers, the lowest rate since 1987. (Bryan Chan / Los Angeles Times)

Tim Logan
November 3, 2014

First-time home buyers aren’t buying homes like they used to.

Read the rest of this entry »

LATimes: U.S. economy shows solid growth, but it’s about to be tested

Economy

Consumer spending, which accounts for about two-thirds of U.S. economic activity, increased at a modest annual rate of 1.8% in the third quarter.

By Don Lee
October 30, 2014

The U.S. economy is showing steady, solid growth despite the shaky global environment, but its resilience will be tested in the coming months.

Read the rest of this entry »

DailyBulletin: Economic Conference: Education key to Inland Empire growth

Inland Empire

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/29/14, 5:01 PM PDT | Updated: 4 mins ago

ONTARIO >> While the Inland Empire economy continues on the upswing, the growth of high-paying jobs and quality firms continues to be hindered by educational attainment levels.

Read the rest of this entry »

federal reserve

By Jim Puzzanghera
October 29, 2014

Federal Reserve policymakers voted Wednesday to end the central bank’s controversial bond-buying stimulus program, determining the economy is strong enough to remove the unprecedented support.

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WSJ (AP): Caremark to Charge Extra Co-Pay at Pharmacies Selling Cigarettes

CVS Caremark Logo

By Ed Silverman
Associated Press
October 20, 2014

Last month, CVS Health {CVS +0.83%} purged its 7,700 pharmacies of tobacco products in a gambit to embrace a commitment to improving public health and generate goodwill. But the move comes with a price – an estimated $2 billion in annual sales will be sacrificed.

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The Sun: Business leaders optimistic at Inland Empire economic conference

UCR

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/23/14, 9:17 PM PDT |

RIVERSIDE >> Optimism about the regional and national economy was abundant at the 2014 Riverside/San Bernardino Economic Forecast Conference hosted Thursday by Los Angeles-based Beacon Economics and the UC Riverside School of Business Administration.

Read the rest of this entry »

interest_rates

By E. Scott Reckard
October 23, 2014

The lowest mortgage rates of the year sank a bit lower this week, with Freddie Mac reporting that lenders were offering 30-year fixed loans at an average of 3.92%, down from 3.97% a week ago.

Read the rest of this entry »

LATimes: Strong growth is forecast for Inland Empire

Inland Empire

By Chris Kirkham
October 23, 2014

It was among the nation’s hardest-hit local economies during the Great Recession, beset by staggering numbers of foreclosures and one of the highest jobless rates in California.

Read the rest of this entry »

LATimes: Business economists report solid but slowing growth in third quarter

NABE

By Jim Puzzanghera
October 20, 2014

Business economists reported solid but slowing growth at their companies over the summer as gauges of sales, hiring and profit margins fell slightly from the second quarter, according to survey results released Monday.

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NYTimes: For Aaron Kushner, a Difficult Foray Into Newspapers

Freedom Communications

By CHRISTINE HAUGHNEY
OCT. 19, 2014

Ever since the entrepreneur Aaron Kushner bought into the newspaper business two years ago, he has generated a steady stream of headlines — about himself.

Read the rest of this entry »

DailyBulletin: New allegations raised in ONT dispute

Los Angeles World Airports

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 10/18/14, 9:02 PM PDT | Updated: 25 secs ago

RIVERSIDE >> Ontario has raised new allegations that purport to show a Los Angeles agency abandoned efforts to market L.A./Ontario International Airport in favor of multi-billion dollar projects at Los Angeles International Airport.

The allegations are raised in a court document filed by Ontario on Friday afternoon in Riverside Superior Court.

Read the rest of this entry »

The Sun: SBPEA sues former general manager for more than $700,000

SBPEA

By Joe Nelson, The Sun
Posted: 10/17/14, 5:08 PM PDT | Updated: 48 secs ago

San Bernardino County’s largest labor union filed a lawsuit Friday in San Bernardino Superior Court against its former general manager, alleging he embezzled or misappropriated more than $700,000 before he was fired in 2013.

Read the rest of this entry »

unemployment down

By Chris Kirkham
October 17, 2014

California’s unemployment rate dropped to 7.3% in September — the lowest in more than six years — though the total number of jobs declined by 9,800 last month, according to state data.

Read the rest of this entry »

freddie-mac-fannie-mae-logo

Fannie Mae and Freddie Mac are the biggest pillars of support for U.S. housing, guaranteeing 59% of all mortgages being written.

By E. Scott Reckard and Tim Logan
October 17, 2014

Mortgage financing giants Fannie Mae and Freddie Mac, together with their federal regulator, have drawn up rules aimed at loosening constricted lending standards to make mortgages more affordable and easier to get for those with less than stellar credit.

Read the rest of this entry »

Priya Mathur

Priya Mathur was removed from CalPERS board leadership positions for campaign finance disclosure infractions. | CalPERS

By Dale Kasler
dkasler@sacbee.com
0/15/2014 10:37 PM

CalPERS punished one of its own Wednesday, stripping a prominent board member of her leadership positions because of her latest violations of the state’s campaign finance disclosure laws.

Read the rest of this entry »

The PE: SAN BERNARDINO: New executive director named for airport

SBD International Airport

Published: Oct. 14, 2014 – Updated: 11:06 p.m.

Michael Burrows, who has been acting executive director of the two agencies that oversee the development of San Bernardino International Airport, has been officially appointed to the job.

To read story by Richard K. De Atley in The Press-Enterprise, click here.

DailyBulletin: ONT marketing campaign draws criticism

 Ontario International Airport

A new billboard, part of a marketing campaign by Los Angeles World Airports, has gone up along the 57 Freeway in Pomona. Ontario’s name should be on top, one driver tweeted. (Jennifer Cappuccio Maher — staff photographer)

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 10/14/14, 6:08 PM PDT | Updated: 1 min ago

ONTARIO >> There is growing skepticism about a newly launched billboard campaign meant to promote flights out of LA/Ontario International Airport.

Read the rest of this entry »

Aaron Kushner

The Los Angeles Times filed a lawsuit against the Orange County Register, owned by Aaron Kushner’s Freedom Communications, alleging breach of contract. (Anne Cusack / Los Angeles Times)

By Shan Li
October 14, 2014

The Los Angeles Times filed a lawsuit on Tuesday against the Orange County Register, accusing the embattled newspaper of breach of contract and failure to pay more than $2 million in delivery fees.

Read the rest of this entry »

LATimes: Home sales post gains

For Sale

Higher prices have pushed many investors and cash buyers out of the market, while still-low interest rates and an improving economy are luring more so-called regular buyers. Above, a home for sale in Long Beach. (Cheryl A. Guerrero / Los Angeles Times)

By Tim Logan
October 13, 2014

Southern California’s housing market is starting to pick up the pace.

Home sales in the six-county Southland grew for the first time in a year in September as prices moderated from last year’s torrid gains, according to figures out Monday.

Read the rest of this entry »

VVDailyPress: Feds send Barstow casino notices to agencies

Los Coyotes Casino

Conceptual rendering of the proposed Barstow Casino. (Photo courtesy of www.barstowcasinoproject.com)

MIKE LAMB
STAFF WRITER
Posted Oct. 12, 2014 @ 2:31 pm
Updated Oct 12, 2014 at 2:44 PM

BARSTOW — Local government agencies would lose some property tax revenue if land being targeted for an Indian casino is put into a trust for development, but one Barstow City Councilman says that shouldn’t be a concern.

Read the rest of this entry »

question-mark1a

By MICHAEL R. BLOOD Associated Press
Oct. 12, 2014 – 07:35 a.m.

LOS ANGELES (AP) — California’s health insurance exchange has awarded $184 million in contracts without the competitive bidding and oversight that is standard practice across state government, including deals that sent millions of dollars to a firm whose employees have long-standing ties to the agency’s executive director.

Read the rest of this entry »

DailyBulletin: LA/Ontario International Airport billboards questioned

Ontario International Airport
Documents cited by attorneys representing Ontario detail several instances in which Los Angeles World Airports appeared to direct key personnel to focus efforts on Los Angeles International Airport rather than ONT.

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 10/11/14, 9:21 PM PDT | Updated: 46 secs ago

ONTARIO >> A billboard marketing blitz will take off on Monday promoting flights out of LA/Ontario International Airport.

Read the rest of this entry »

LATimes: Prime to buy six Catholic hospitals in California; SEIU opposes deal

Prime Healthcare Services

By Chad Terhune
October 10, 2014

Escalating its battle with organized labor, Prime Healthcare Services Inc. reached a deal to acquire six nonprofit Catholic hospitals in California, including St. Vincent and St. Francis medical centers in Los Angeles County.

Read the rest of this entry »

LATimes: Four-week average of unemployment claims lowest since 2006

Unemployment Benefits Application

By Jim Puzzanghera
October 9, 2014

Average weekly unemployment claims over the last month hit an eight-year low, the government reported, in another positive sign for the labor market recovery.

Read the rest of this entry »

UTSanDiego: Ebola drug manufacturing ramping up

Mapp Bio

By Bradley J. Fikes
Oct. 9, 2014

Ebola drug maker Mapp Biopharmaceutical is working on several fronts to increase supplies of the potentially life-saving medicine as fast as possible, Mapp’s chief executive, Kevin Whaley, said Thursday.

Read the rest of this entry »

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/08/14, 5:05 PM PDT | Updated: 3 hrs ago

ONTARIO >> The second highest ranking Democrat in the U.S. House of Representatives shared his vision for national economic growth at a forum in Ontario on Wednesday hosted by State Sen. Norma Torres, and the Inland Empire Economic Partnership business advocacy group.

Read the rest of this entry »

LATimes: Wal-Mart to end healthcare coverage for 30,000 part-timers

walmart-logo
Wal-Mart said Tuesday it will end healthcare benefits for some part-time workers.

By Andrew Khouri
October 7, 2014

Retail giant Wal-Mart Stores Inc. is cutting healthcare benefits for roughly 30,000 part-time employees, citing rising costs.

Read the rest of this entry »

Calpensions: Pensions still a puzzle in Stockton bankruptcy

Pieces to the Puzzle

By Ed Mendel
October 6, 2014

A federal judge ruled last week that Stockton’s CalPERS pensions can be cut in bankruptcy. But Stockton does not want to cut pensions, and the lone holdout creditor says it can be paid without cutting pensions.

Read the rest of this entry »

InlandPolitics: Why are people so shocked over “Inbred Inland Empire” label ?

question-mark

Saturday, October 4, 2014 – 05:30 p.m.

I had to roll my eyes over all the outrage arising from the revelation that an official for Los Angeles World Airports (LAWA) referred to the Inland Empire as the “Inbred Inland Empire”.

Read the rest of this entry »

DailyBulletin: Unemployment rate continues to drop across Inland Empire, nation

Inland Empire

By Kevin Smith, San Gabriel Valley Tribune
and Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/03/14, 9:10 PM PDT |

The nation’s unemployment rate dropped to 5.9  percent, its lowest level in more than six years, after U.S. employers added 248,000 jobs in September, according to the latest data from the U.S. Department of Labor.

Read the rest of this entry »

Covered California

Officials don’t find Covered California rates unreasonable
By Chad Terhune
October 3, 2014

California regulators won’t challenge the next round of health insurance rate increases in the state exchange, but insurers’ narrow networks of doctors and hospitals are drawing tougher scrutiny.

Read the rest of this entry »

SacBee: Dan Walters: Bankruptcy judge lights fuse with Stockton pension ruling

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Oct. 2, 2014 – 10:20 pm

It should have surprised no one that federal Bankruptcy Court Judge Christopher Klein declared that public employees’ pensions are not sacrosanct when their employers declare bankruptcy.

Read the rest of this entry »

Michael Hiltzik

Michael Hiltzik
October 2, 2014

The investment house Franklin Templeton’s effort to knock down the city of Stockton’s proposal to emerge from bankruptcy portrays the case as one in which Franklin is defending itself against three big, faceless adversaries.

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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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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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LATimes: Pending home sales dip in August as investors pull back

Home for sale

Pending home sales slowed a bit in August, a real estate trade group reported Monday. (Bryan Chan / Los Angeles Times)

By Tim Logan
September 29, 2014

The number of people who signed contracts to buy homes in August dipped slightly, though it remains near its highest level in a year.

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InlandPolitics: What a mess for Apple Inc.

iPhone 6 - Bent

Sunday, September 28, 2014 – 09:30 a.m.

The heralded rollout of the iPhone 6 and 6 Plus could be about to go in the tank.

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By Dale Kasler
dkasler@sacbee.com
Published: Sunday, Sep. 28, 2014 – 12:00 am

It’s harvest time in much of California, and the signs of drought are almost as abundant as the fruits and nuts and vegetables.

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The PE: ONTARIO: Riverside judge asked to rule on ONT suit

ontario airport

Ontario’s lawyers want her to uphold its right to sue for the return of local control of airport. Owner L.A. says it’s too late.

Published: Sept. 26, 2014 Updated: 11:08 p.m.

Ontario is asking a judge to unwind the city’s agreement with Los Angeles that gave L.A. control of Ontario International Airport, saying Ontario officials in 1967 and 1985 had no right to give up the airport forever and provide no way out of the contract.

To read story by Cassie MacDuff in The Press-Enterprise, click here.

GDP

The second-quarter economic rebound was stronger than initially thought at 4.6% annual rate.

By Jim Puzzanghera contact the reporter

The U.S. economy grew at a 4.6% annual rate this spring, rebounding more strongly than initially estimated from a weather-related winter contraction, the Commerce Department said Friday.

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National Community RenaissanceSan Bernardino Seal

By Ryan Hagen, The Sun
Posted: 09/25/14, 4:58 PM PDT |

SAN BERNARDINO >> The first phase of revitalizing the affordable housing at Waterman Gardens is clear to begin after it received $12 million in state tax credits Thursday.

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The Sun: Bear Mountain, Snow Summit ski resorts bought by Mammoth Mountain company

Big Bear Ski Resorts

Mammoth Mountain Ski Area, owner of Mammoth Mountain and June Mountain, announced today that it has entered into an agreement to acquire Big Bear Mountain Resorts in Big Bear Lake, California. Big Bear Mountain Resorts includes both Bear Mountain, pictured here, and Snow Summit, the largest and most popular of southern California’s ski and snowboard resorts that host nearly 800,000 winter visits annually. (Staff file photo)

By Ryan Hagen, The Sun
Posted: 09/24/14, 11:23 AM PDT | Updated: 51 secs ago

BIG BEAR LAKE >> In what will make it part of one of the nation’s largest ski companies with more than 2 million visitors per year, Bear Mountain and Snow Summit have been bought by Mammoth Mountain Ski Area, the northern California-based company announced Wednesday.

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