Archive for the ‘ Business ’ Category

The California Supreme Court ruled Monday that interest rates on consumer loans can be “unconscionably” high and therefore illegal.

By James Rufus Koren
Aug 13, 2018 | 4:00 PM

California’s high court has ruled that interest rates on consumer loans can be so high that they become “unconscionable” and, therefore, illegal — a decision that could call into question the validity of millions of loans and upend the state’s subprime lending market.

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Bloomberg News
July 27, 2018

Consumer spending propelled U.S. economic growth to a 4.1% pace in the second quarter, the fastest since 2014, letting President Donald Trump claim a win for his policies even though most analysts see the high as temporary.

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The FedEx Boeing 757 delivery place will fly by at the second annual Breitling Huntington Beach Airshow, Sat. – Sun., Sept. 30 – Oct. 1., with a practice day Friday, Sept. 29 at Huntington Beach. (Photo courtesy Breitling Huntington Beach Airshow)

By Brian Whitehead | bwhitehead@scng.com | San Bernardino Sun
Published: July 25, 2018 at 7:00 am | Updated: July 25, 2018 at 7:01 am

FedEx Express will begin operating daily cargo flights out of San Bernardino International Airport in October, under terms of a new 10-year agreement.

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In late June a judge in two cases ruled against the proposed 3,600-house Harmony Development saying the city improperly defined the project and failed to properly analyze or mitigate downstream flooding impacts, and more.

By Jennifer Iyer | jiyer@scng.com | Redlands Daily Facts
Published: July 6, 2018 at 6:34 pm | Updated: July 6, 2018 at 6:35 pm

A judge has ruled against Highland’s proposed 3,600-house Harmony development, partially siding with environmental and community groups that opposed the massive project in two related lawsuits.

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A rendering of the next phase of San Bernardino’s Arrowhead Grove project shows the affording housing complex from Crestview Avenue. (Rendering courtesy of the city of San Bernardino)

By Brian Whitehead | bwhitehead@scng.com | San Bernardino Sun
Published: June 28, 2018 at 4:23 pm | Updated: June 28, 2018 at 10:52 pm

San Bernardino received $20 million from the state’s Strategic Growth Council on Thursday, June 28, for the development of affordable housing and market-rate units at Arrowhead Grove, a complex replacing the troubled Waterman Gardens.

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By Sandra Emerson | semerson@scng.com | Inland Valley Daily Bulletin
Published: June 27, 2018 at 6:06 pm | Updated: June 27, 2018 at 6:07 pm

FedEx Express has announced it will extend its lease at the Ontario International Airport for at least another three decades, and it plans to make $100 million in improvements there.

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Sunday, June 24, 2018 – 02:30 p.m.

A local developer has somehow achieved an unimaginable re-zoning of property in Adelanto, California, a city in the midst of an ongoing investigation by the Federal Bureau of Investigation (FBI) and the U.S. Department of Justice.

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By Benjy Egel
begel@sacbee.com

Publiahed: May 04, 2018 – 10:01 AM
Updated: May 04, 2018 03:44 PM

The Golden State is getting even richer.

California is now the world’s fifth-largest economy, according to data released Friday morning by the U.S. Department of Commerce. Its 2017 Gross State Product was $2.747 trillion, surpassing the United Kingdom’s $2.625 trillion Gross Domestic Product.

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CNBC: Nonfarm payrolls increase by 313,000 in February vs. 200,000 est.

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Jeff Cox | @JeffCoxCNBCcom
Published: March 9, 2018

  • Nonfarm payrolls rose by 313,000 in February while the unemployment rate remained at 4.1 percent, the lowest since December 2000.
  • Wage growth was muted, however, with average hourly earnings up 2.6 percent on an annualized basis, 0.2 percentage points below expectations
  • The stock market rallied after the report.

The economy added 313,000 jobs in February, crushing expectations, while the unemployment rate remained at 4.1 percent, according to a Labor Department report Friday that could help quell inflation fears.

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Fourth-quarter apartment rents averaged $1,883 a month in Los Angeles County and $1,871 a month in Orange County, market tracker Reis Inc. reported recently. Rents in the region increased between 3 percent and 5.5 percent last year.

By Jeff Collins | JeffCollins@scng.com | Orange County Register
Published: February 15, 2018 at 1:50 pm | Updated: February 16, 2018 at 6:24 pm

A $300 rent hike threw Noemi Hernandez’ finances into a tizzy in 2016, forcing the part-time cashier to apply for food stamps and curtail spending on other things. A year later, her rent went up another $160.

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Business Wire: Pacific Premier Bancorp, Inc. to Acquire Grandpoint Capital, Inc.

Business Wire
February 12, 2018

IRVINE, Calif.–(BUSINESS WIRE)–

Pacific Premier Bancorp, Inc. (PPBI) (the “Company,” “Pacific Premier,” “we,” “us” or “our”), the holding company of Pacific Premier Bank (“Pacific Premier Bank”), and Grandpoint Capital, Inc. (OTC Pink: GPNC) (“Grandpoint”) today announced they have entered into a definitive agreement under which Pacific Premier will acquire Grandpoint in an all-stock transaction valued at approximately $641.2 million, or $18.57 per share, based on a closing price for Pacific Premier’s common stock of $39.10 as of February 9, 2018.

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By Imran Ghori | ighori@scng.com | The Press-Enterprise
Published: February 9, 2018 at 6:41 pm | Updated: February 9, 2018 at 6:43 pm

A Riverside County judge has sided with critics of the planned World Logistics Center in ruling that an environmental study for the project was flawed.

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InlandPolitics: Dow drops 1,175 points — Get over it!

February 5, 2018 – 03:00 p.m.

The Dow Jones Industrial Average, a basket of thirty stocks, dropped 1,175 points at Monday’s close. The index had been down 1,600 earlier.

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By Jim Erwin
Sunday, February 4, 2018 – 01:00 p.m.

Remember the small beleaguered San Bernardino-based Life Bank?

Yes, that sleepy bank owned by the former Life Financial Corporation. The same institution that withered down to an asset size of $250 million and a stock price of just 68 cents back in 2002.

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LA Observed: Deep layoffs began Monday at SoCal News Group

By Kevin Roderick | January 22, 2018 11:43 PM

At least 10 staffers in sports and a whole bunch of photographers were let go Monday by the Southern California News Group papers. The cuts were telegraphed just over a week ago in somber Friday afternoon staff gatherings. Today the first journalists found out their jobs were ending.

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CALmatters: Commentary: Minimum wage hike, other acts have consequences

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By Dan Walters | Jan. 7, 2018 |

Outwardly, the McDonalds restaurant just off Highway 101 in Pismo Beach doesn’t look any different from the 1,500 or so others in California.

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Jeff Burum speaks Thursday, Nov. 2, 2017 at “An Evening of Hope,” the 25th annual gala of National Community Renaissance, a non-profit affordable housing development company he co-founded 25 years ago. Burum was named chairman of that group, as well as the non-profit Hope Through Housing Foundation, which was the beneficiary of the gala. (Ryan Beck/Contributed image)

By Richard K. De Atley | rdeatley@scng.com | The Press-Enterprise
Published: November 3, 2017 at 6:13 pm | Updated: November 4, 2017 at 1:25 am

Barely two months after his acquittal in the Colonies bribery case, developer Jeff Burum stood in front of a standing ovation crowd Thursday night at the Fairplex Conference Center stage in Pomona to resume leadership of the affordable housing non-profit he co-founded 25 years ago.

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Pending home sales numbers drop again, worrying California market analysts.

By Rose Meily |
Published: June 9, 2017 at 1:45 pm
Updated: June 9, 2017 at 2:03 pm

Consistent with the slowdown in April’s closed home sales, low housing inventory and eroding affordability suppressed pending home sales for the fourth straight month, the California Association of Realtors has announced. The state Realtor group’s April Market Pulse Survey shows mixed results, with Realtors reporting an increase in floor calls and less open house traffic for the fourth straight month.

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Natalie Kitroeff
May 19, 2017 – 2:45 p.m.

California employers slashed 16,300 jobs from payrolls in April, according to data released by the state’s Employment Development Department on Friday. It was the first month that the state has posted a job loss since June 2016.

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The Sacramento Bee: California’s economy growing faster than national average

By Phillip Reese
preese@sacbee.com
May 11, 2017

California’s economy grew faster in 2016 than all but a few other states, outpacing the average national growth for the sixth consecutive year, according to data released Thursday by the U.S. Bureau of Economic Analysis.

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LOS ANGELES – JUNE 14: The Tribune owned KTLA Channel 5 television antenna is seen June 14, 2006 in Los Angeles, California. The Tribune Company’s second largest shareholder, the Chandler family, has called for a breakup of the media giant, which owns 11 newspapers, including the Los Angeles Times and 26 television stations. The Chandlers want the Tribune to separate broadcasting from the newspaper business as well as explore other alternatives such as breaking up and selling some or all of the newspaper properties. (Photo by J. Emilio Flores/Getty Images)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 05/08/17 – 5:09 PM PDT |

Sinclair Broadcast Group Inc.’s plan to buy Tribune Media Co. for $3.9 billion will broadly expand its reach, but some experts fear the expanded company with a conservative lean will drown out other local sources of broadcast television news.

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James Rufus Koren
May 5, 2016

The latest allegations of unethical practices at Wells Fargo are so disturbing that even the bank has called them “offensive.”

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A newly released report from Coldwell Banker Commercial details commercial activity that’s occurring throughout Southern California. This artist rendering of a new research facility for Huntington Medical Research Institutes (HMRI) in Pasadena is one of many projects that are underway throughout the region.

By Kevin Smith, San Gabriel Valley Tribune
Posted: 04/23/17 – 11:23 AM PDT |

Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial.

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Darren Chin, project manager of Twelve Oaks, stands amid a vineyard on the 700-acre development, financed by Chinese investors. (Allen J. Schaben / Los Angeles Times)

David Pierson
April 23, 2016

David Liu made his first fortune more than two decades ago, exporting American scrap metal to his rapidly industrializing home country of China. After the financial crisis, he scored big again buying thousands of distressed apartments in the United States and selling them later for a tidy profit.

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Los Angeles Times: Unemployment in California falls to 4.9%, lowest since 2006

By Natalie Kitroeff
April 21, 2017

  • Job Layoffs Job Market Jobs and Workplace Unemployment and Layoffs

California piled on 19,300 jobs in March and its unemployment rate dropped to 4.9%, according to figures released Friday by the state’s Employment Development Department. That’s the first time since December 2006 that the jobless rate has fallen below 5%.

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By Thomas Lee
Published: April 8, 2017
Updated:   April 9, 2017 – 10:26am

The bills keep piling up for Wells Fargo as it grapples with a scandal where employees signed up customers for millions of accounts they never asked for. There’s $110 million to settle a class-action lawsuit, on top of $185 million in fines to regulators. The company has made amends in other ways, firing CEO John Stumpf, adding two independent directors to the board and slashing executive bonuses.

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Natalie Kitroeff
March 24, 2017

California’s unemployment rate ticked down to 5% in February, reaching a 10-year low on eight consecutive months of job growth.

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Natalie Kitroeff
March 24, 2017

California’s unemployment rate ticked down to 5% in February, reaching a 10-year low on eight consecutive months of job growth.

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CNBC: US created 235,000 jobs in Feb, vs 190,000 expected

Jeff Cox | @JeffCoxCNBCcom
March 10, 2017

Nonfarm payrolls increased by 235,000 in February and the unemployment rate was 4.7 percent in the first full month of President Donald Trump’s term, the Bureau of Labor Statistics reported Friday.

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The Sun: Business trip to China could lead to large mall near Ontario airport

Ontario International Airport Authority commissioner Curt Hagman (left) and OIAA CEO Kelly Fredericks recently returned from a trip to China to foster economic partnerships for growth. Here they sit in a China Airlines simulator cockpit in Taoyuan City, Taiwan.

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 03/05/17 – 9:38 PM PST |

ONTARIO >> A recent trip to China connected a San Bernardino County supervisor and a top Ontario International Airport official with a developer who’s considering vacant land near ONT as an ideal spot for a large indoor mall.

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The Orange County Register: Driverless trucks: Coming soon to a road near you?

Rachel Uranga / Staff Writer
March 6, 2017 – Updated 8:02 a.m.

For decades, trucking has provided big-rig driver Frank Mora and his family a decent living. He doesn’t expect that will last forever.

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By Kevin Smith, San Gabriel Valley Tribune
Posted: 03/03/17 – 2:16 PM PST |

Los Angeles County and the Inland Empire saw heavy job losses in January following the meager gains that were posted in December, but California still managed to add nearly 10,000 jobs, the state Employment Development Department reported Friday.

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California saw a net gain of 9,700 jobs in January while its unemployment rate fell to 5.1%. (Source: Employment Development Department and Los Angeles Times graphics)

Natalie Kitroeff
March 3, 2016

The California economy started 2017 on a strong note, with employers adding a net 9,700 jobs in January and the unemployment rate dropping to 5.1%, according to data released by the Employment Development Department.

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Daily Bulletin: JCPenney closing 140 stores, moves distribution center to Inland Empire

J.C. Penney at Victoria Gardens in Rancho Cucamonga, CA., Friday, February 24, 2017. (Staff photo by Jennifer Cappuccio Maher/Inland Valley Daily Bulletin/SCNG)

By Fielding Buck, The Press-Enterprise
Posted: 02/24/17 – 9:58 AM PST |

JCPenney will close 130-140 stores in coming months and move its Southern California warehousing from Buena Park to the Inland Empire, the company announced Friday.

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By Kevin Smith, San Gabriel Valley Tribune
Posted: 02/22/17 – 8:11 AM PST |

L.A. County’s manufacturing sector has suffered massive job losses over the last decade, but a new report points to worse news — those positions have been replaced by jobs that pay less than half as much.

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Don Lee
February 14, 2017

Federal Reserve Chairwoman Janet L. Yellen on Tuesday painted a largely upbeat picture of the economy, telling lawmakers that somewhat faster wage growth is in store for workers, even as she signaled that the central bank would consider raising interest rates as early as next month.

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Associated Press: California looks to build $7 billion legal pot economy

By Michael R. Blood and Don Thompson
Associated Press
Jan 29, 2017 – 3:00 PM EST

SACRAMENTO, Calif. (AP) — The future of California’s legal marijuana industry is being shaped in a warren of cubicles tucked inside a retired basketball arena, where a garden of paper cannabis leaves sprouts on file cabinets and a burlap sack advertising “USA Home Grown” dangles from a wall.

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California employers added just 3,700 jobs in December, according to the state Employment Development Department. That was less than a third of the 13,600 jobs that were added the previous month. (Photo by Neil Nisperos, SCNG/File)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 01/20/17 – 11:38 AM PST |

California employers scaled back their hiring in December with just 3,700 jobs added, the state Employment Development Department reported Friday.

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American Apparel began laying off 2,400 Southern California workers on Monday. (Al Seib / Los Angeles Times)

Shan Li
January 16, 2017

American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.

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Los Angeles Times: Can L.A. support two NFL teams? It’s a challenge

Nathan Fenno
January 14, 2017

When Dan Reeves moved the Rams from Cleveland to Los Angeles in 1946, the owner made a prediction about his new home.

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A San Diego Chargers fan holds up a sign in front of Chargers headquarters after the team announced that it will move to Los Angeles. (Denis Poroy / AP)

Natalie Kitroeff and Daniel Miller
January 13, 2017

The Chargers’ dramatic split from the city of San Diego may be a sign that California is officially done spending public money on sports franchises.

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Jim Puzzanghera
January 13, 2017

Wells Fargo & Co. on Friday reported a 6% drop in fourth-quarter profit in the wake of a scandal over its employees creating as many as 2 million accounts without customer authorization.

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The Consumer Financial Protection Bureau fined Equifax and TransUnion for providing consumers with credit scores not actually used by most lenders in making credit decisions.

James Rufus Koren
January 4, 4016

All credit scores are not created equal.

That’s the upshot of federal enforcement actions levied Tuesday against credit bureaus Equifax and TransUnion.

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Los Angeles Times: Southern California home prices keep rising, and sales jump

The Southern California median home price has now risen, year-over-year, every month for more than four years.

Andrew Khouri
December 27, 2016

Southern California home prices and sales rose in November compared with a year earlier, according to a report released Tuesday.

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A homebuyer who held off purchasing a $500,000 home in July when rates sank to 3.41 percent now will pay $255 more a month on a 30-year loan.

By Kathy Orton
December 22, 2016 at 5:58 PM

House hunters might need to start adjusting their expectations as the days of ultra-low mortgage rates could finally be winding down.

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Los Angeles County saw healthy job gains last month but the region’s construction sector posted a loss of 1,600 jobs. (AP File)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 12/16/16 – 5:31 PM PST |

California employers added 13,600 jobs in November, marking the weakest showing since March.

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By Kevin Smith, San Gabriel Valley Tribune
Posted: 12/16/16 – 5:32 PM PST |

California employers added 13,600 jobs in November, marking the weakest showing since March.

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Los Angeles Times: CPUC considering modifications to San Onofre nuclear deal

Rob Nikolewski
December 14, 2016

In a ruling made just before the close of business hours Tuesday, the California Public Utilities Commission (CPUC) directed Southern California Edison and San Diego Gas & Electric to meet with groups critical of a 2014 agreement that calls on utility ratepayers to shoulder about 70 percent of the costs from shutting down the San Onofre Nuclear Generating Station.

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Modification of the project known as San Gorgonio Crossing is not enough to assuage letter-writing opponents.

By Gail Wesson / Staff Writer
Published: Dec. 9, 2016
Updated:   Dec. 11, 2016 – 7:56 p.m.

The draft environmental report for a controversial industrial distribution facility project in Cherry Valley is available for public comment until Jan. 18, with public hearings possible later in 2017.

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By Rene Ray De La Cruz, Staff Writer
Posted:      Dec 10, 2016 at 9:40 AM
Updated:   Dec 10, 2016 at 9:40 AM

VICTORVILLE – The announcement of a new large development project at Southern California Logistics Airport is drawing the attention of many in the manufacturing industry.

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InlandPolitics: Local economist who pimped warehouses now says — What jobs?

Saturday, December 10, 2016 – 10:30 a.m.

One would hope that several local Inland Empire governments are feeling stupid and duped these days.

But maybe they don’t care.

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american-apparel

American Apparel has warned thousands of its Southern California workers that layoffs may be coming in January. (Al Seib / Los Angeles Times)

Shan Li
December 5, 2016

American Apparel has told nearly 3,500 employees in Southern California that they may lose their jobs in January depending on the outcome of a likely sale to Canadian clothing maker Gildan Activewear.

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Up Arrow

By Kevin Smith, San Gabriel Valley Tribune
Posted: 12/04/16 – 4:20 PM PST |

Southern California’s construction industry is gaining traction after years of decline, but it still has a long way to go.

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warehouse

“There are a lot of people doing traditional warehouse work, but that will change,” says John Husing, chief economist for the Inland Empire Economic Partnership. “Everything is being automated.”

By Natalie Kitroeff
Dec. 4, 2016

When Skechers started building a colossal distribution center in Moreno Valley six years ago, backers promised a wave of new jobs.

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question-mark

Jeff McDonald
November 30, 2016

The judge who until a few weeks ago was in charge of the long-running San Onofre case before the California Public Utilities Commission has taken a job with a contractor to plant owner Southern California Edison.

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U.S. home prices are slightly above the peak set in July 2006, according to the Case-Shiller national home price index.

Andrew Khouri
November 29, 2016

Southern California home prices jumped last month, but sales flatlined in a region where homeownership is increasingly out of reach for the middle class.

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The Washington Post: Wells Fargo wants claims over fake accounts settled out of court

wells fargo logo

By Chris Dolmetsch and Laura J. Keller
November 25, 2016

Wells Fargo is calling for dozens of customers suing over bogus accounts opened by the bank’s employees to resolve the dispute through arbitration rather than federal court.

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Los Angeles Times: Yellen affirms interest rate hike likely next month

federal reserve

Don Lee
November 17, 2016

Federal Reserve Chairwoman Janet L. Yellen gave a relatively upbeat assessment of the economy Thursday, further signaling a likely interest rate hike next month.

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Los Angeles Times: Wells Fargo hit with new sanctions following fake-accounts scandal

wells fargo logo

James Rufus Koren
November 18, 2016

A federal regulator has tightened restrictions on Wells Fargo & Co., requiring it to get approval to replace or hire new executives and make other changes, in the latest fallout over the San Francisco bank’s fake-accounts scandal.

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Jobs

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
November 18, 2016 – 9:00 AM

California employers added 31,200 more jobs to the state’s economy in October, although the unemployment rate held steady at 5.5 percent, state officials said Friday.

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The Sun: Stater Bros. leader Jack Brown dies at 78

black ribbon

By Michel Nolan, The Sun
Posted: 11/14/16 – 11:41 AM PST |

Jack H. Brown, executive chairman of Stater Bros. Markets and charitable leader throughout the region, died Sunday evening surrounded by family. He was 78.

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Bloomberg: Wells Fargo’s Stars Thrived While 5,000 Workers Got Fired

General Views Of Wells Fargo Locations Ahead Of Earns Figures

Laura J Keller, Dakin Campbell and
Kartikay Mehrotra
Published: November 3, 2016 — 2:00 AM PDT
Updated: November 3, 2016 — 6:38 AM PDT

After Wells Fargo & Co. executive John Sotoodeh handed off more than a hundred branches in Southern California to a colleague in 2009, problems surfaced quickly.

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wells-fargo

More than 250,000 homeowners who had loans serviced by Wells between 2005 and 2010 and paid for the appraisals could receive at least $120 each. (Photo: CX Matiash, Associated Press)

By Kathleen Pender
Published: October 31, 2016
Updated:   October 31, 2016 – 4:33pm

More than 250,000 homeowners who had loans serviced by Wells between 2005 and 2010 and paid for the appraisals could receive at least $120 each.

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Los Angeles Times: Southern California home sales dip in September

down-arrow

Andrew Khouri
October 26, 2016

The Southern California real estate market took a breather in September, with sales dipping slightly as the market entered a typically slower season amid price gains that have made homes less affordable.

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Los Angeles Times: Prime Healthcare ordered to pay $6.5 million in back wages

Prime Healthcare

Natalie Kitroeff
October 25, 2016

In a ruling last week, the National Labor Relations Board ordered Prime Healthcare Services, the owner of several Southern California hospitals, to pay back wages to laboratory technicians, clerks and pharmacists, among other employees.

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Apple Inc.

By Rex Crum | rcrum@bayareanewsgroup.com
Published: October 25, 2016 at 2:03 pm | Updated: October 26, 2016 at 5:44 am

CUPERTINO — For any other company, reporting annual sales of more than $215 billion would be worth celebrating. For Apple, however, it’s a reason for disappointment.

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Los Angeles Times: California adds 30,000 jobs as unemployment holds at 5.5%

California

Natalie Kitroeff
October 21, 2016

California’s unrelenting economy refused to slow in September, amassing another 30,000 new jobs even as more people seeking work opted into the labor market, according to state data released Friday.

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InlandPolitics: It was a long time coming for Wells Fargo’s Stumph

General Views Of Wells Fargo Locations Ahead Of Earns Figures

Thursday, October 13, 2016 – 08:30 a.m.

Wells Fargo may be one of the most financially-stable financial institutions in the world. But its greed was a recipe for disaster.

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General Views Of Wells Fargo Locations Ahead Of Earns Figures

Jim Puzzanghera
September 30, 2016

The reputation of Wells Fargo & Co. took another blow Thursday when it agreed to pay $24 million for the improper repossession of cars owned by members of the U.S. military.

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wells fargo logo

Federal regulators said Wells Fargo employees opened accounts in customers’ names without their consent.

James Rufus Koren and Jim Puzzanghera
September 27, 2016

Wells Fargo & Co. Chief Executive John Stumpf will forfeit compensation worth about $45 million as the bank tries to appease angry lawmakers and regain the trust of customers amid the still-unfolding scandal over fake accounts.

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wells-fargo-bank

Wells Fargo is already facing four potential class-action suits and could soon face more from customers, former employees and investors over the bank’s fake-accounts scandal. (Justin Sullivan/Getty Images)

James Rufus Koren
September 26, 2016

As beleaguered banking giant Wells Fargo & Co. deals with inquiries from federal prosecutors and scrutiny from lawmakers, it’s facing a growing number of civil lawsuits brought by customers and former employees.

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California Supreme Court

Paresh Dave
September 21, 2016

The California Supreme Court agreed to review Yelp’s objection to a decision ordering it to strip the Internet of comments posted about a San Francisco law firm.

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Wells Fargo

A Wells Fargo office in Oakland. The bank’s CEO says that aggressive sales tactics were not part of an “orchestrated effort.” (Ben Margot / Associated Press)

James F. Peltz
September 19, 2016

When the Senate Banking Committee grills Wells Fargo & Co.’s chairman Tuesday about the banking giant’s sales scandal, look for the word “clawback” to come up more than once.

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Los Angeles Times: California added 63,000 jobs in August, 42% of U.S. total

Up Arrow

Natalie Kitroeff
September 16, 2016

California employers quieted any lingering doubts about the state’s economy in August, as an uptick in hiring helped absorb hordes of new job-seekers.

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Daily Bulletin: Ontario airport bond outlook upgraded, here’s why

Fitch-Rating

By Richard De Atley
Posted: 09/12/16 – 4:35 PM PDT |

ONTARIO >> Fitch Ratings said Monday it has revised its outlook for Ontario International Airport bonds from negative to stable, based on better passenger traffic and a healthy financial profile for the Inland facility.

The A-letter grade remained unchanged from the previous report.

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wells-fargo-bank

Aggressive sales tactics by Wells Fargo & Co. employees led to a $185-million settlement package with federal and state regulators last week. Above, a branch in Miami. (Joe Raedle / Getty Images)

Jim Puzzanghera
September 12, 2016

The Senate Banking Committee will hold a hearing next week on the aggressive sales tactics by Wells Fargo & Co. employees that led to a $185-million settlement package with federal and state regulators.

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ON30-ONT-REGIONAL-TRC

File photo. LA/Ontario International Airport saw its traffic decline the first half of 2016. (Thomas R. Cordova/Staff Photographer)

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 09/09/16 – 12:36 PM PDT |

ONTARIO >> As the future CEO of L.A./Ontario International Airport, Kelly J. Fredericks doesn’t like the statistics he sees for passenger traffic.

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 ashley-furniture

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 09/08/16 – 8:09 PM PDT |

COLTON >> Former employees at the Ashley Furniture plant in Colton say they want justice and an apology over a recent mass layoff they see as a betrayal and retaliation for their failed attempt at unionization last year.

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Wells Fargo

James Rufus Koren
September 8, 2016

Calling it “outrageous” and “a major breach of trust,” local and federal regulators hammered Wells Fargo & Co. for a pervasive culture of aggressive sales goals that pushed thousands of workers to open as many as 2 million accounts that bank customers never wanted.

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Los Angeles Daily News: Home prices up for 51st straight month in LA, Inland Empire

Home for sale

Mortgage interest rates near all-time lows are a key factor in the housing market upward trajectory climb.

By Jeff Collins, jcollins@scng.com
Posted: 09/06/16 – 7:40 PM PDT |

House prices continued rising in July, increasing from year-ago levels for a 51st straight month in Los Angeles County and the Inland Empire and the 50th straight month in Orange County, the CoreLogic Home Price Index showed Tuesday.

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Hanjin

By Rachel Uranga, LA Daily News
Posted: 09/04/16, 8:22 PM PDT |

Several Southern California members of Congress urged the U.S. secretary of commerce to intervene in the worldwide supply chain havoc caused by the collapse of South Korean Hanjin Shipping Co., which has left local workers’ jobs in limbo and threatens to spoil the holiday season for retailers.

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Ashley Furniture

Ashley’s flagship store in downtown Shanghai. The company said it is closing its plants in San Bernardino so it can compete better globally. (Weng Lei / Imaginechina.)

Natalie Kitroeff
August 29, 2016

Southern California is losing another manufacturing stalwart.

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San Onofre

2014 photo of San Onofre nuclear power plant. (Allen J. Schaben / Los Angeles Times)

Liam Dillon
August 28, 2016

For years, state lawmakers have been trying to crack down on private meetings between utility companies and members of the California Public Utilities Commission after revelations that top officials and industry executives had frequent dinner dates, shared talking points and even sketched out details of the multibillion-dollar closure of a Southern California nuclear power plant during a secret rendezvous in a luxury hotel in Poland.

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The Washington Post: Health-care exchange sign-ups fall far short of forecasts

ObamaCare

By Carolyn Y. Johnson
August 27, 2016 at 8:10 PM

Enrollment in the insurance exchanges for President Obama’s signature health-care law is at less than half the initial forecast, pushing several major insurance companies to stop offering health plans in certain markets because of significant financial losses.

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Daily Bulletin: Hundreds laid off at Ashley Furniture factory/warehouse in Colton

pink_slip

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 08/26/16 – 12:33 PM PDT |

COLTON >> About 840 employees at an Ashley Furniture HomeStore factory/warehouse in Colton were laid off Friday.

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