Archive for the ‘ Business ’ Category

InlandPolitics: Economy: GDP up 2.3% in second quarter

Economy

Thursday, July 30, 2015 – 07:30 a.m.

The U.S. Commerce Department reading on the U.S. economy reflected a mediocre climate.

Read the rest of this entry »

Los Angeles Times: Edison seeks almost $7.6 billion in damages for nuclear plant

San Onofre

The San Onofre nuclear power plant closed in 2013 because of faulty steam generators. (Mark Ralston / AFP/Getty Images)

By Ivan Penn contact
July 28, 2015

Southern California Edison is seeking almost $7.6 billion from the Japanese manufacturer of the faulty steam generators that led to the permanent shutdown of the San Onofre nuclear power plant.

Read the rest of this entry »

InlandPolitics: Really! Another healthcare giant?

AnthemBlueCrossLogo

Saturday, July 25, 2015 – 09:00 a.m.

Really! Another larges-scale merger, this time in the healthcare industry, and it’s supposed to be a good thing.

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Haggen

California’s grocery industry is one of the most competitive in the nation and newcomer Haggen Inc., which opened 83 California supermarkets including this one in Torrance earlier this year, appears to be losing traction.

By Kevin Smith, San Gabriel Valley Tribune
Posted: 07/24/15 – 5:34 PM PDT |

California’s grocery industry is among the most competitive in the nation and newcomer Haggen Inc., which opened 83 California supermarkets earlier this year, is rapidly finding that out.

Read the rest of this entry »

InlandPolitics: Crude oil continues fall, California gas prices barely move

Gas Prices

Friday, July 24, 2015 – 09:00 a.m.

Crude oil prices continued falling on Friday morning, with the price for a barrel of West Texas Intermediate Crude Oil hitting a low of $47.96.

However, California retail gasoline prices have barely budged.

Read the rest of this entry »

Citizens Business Bank

Citizens Business Bank’s Ontario-based parent company reports $26.8 million in net 2Q 2015 income, the 153rd consecutive quarter of profitability.

Published: July 23, 2015 – 2:36 p.m.

CVB Financial Corp., and its subsidiary Citizens Business Bank, reported $26.8 million in net income for the April-through-June quarter of 2015.

To read article by Debra Gruszecki in The Press-Enterprise, click here.

Gas Prices

Wednesday, July 22, 2015 – 08:00 a.m.

An uptick in crude oil inventory and the impending sale of Iranian oil on the global market has kept downward pressure on prices.

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LA County Seal

By Abby Sewell, Jean Merl and Katie Shepherd
July 21, 2015

Organized labor won an important victory Tuesday when the Los Angeles County Board of Supervisors voted to increase the minimum wage to $15, but it now faces a more daunting political challenge: convincing other local governments to join the movement.

Read the rest of this entry »

Money

By Ivan Penn and Samantha Masunaga
July 21, 2015

As Los Angeles drivers shelled out more than $4 a gallon at the pump in recent weeks, the state’s oil refineries pocketed record amounts of money — as much as $1.17 a gallon in gross profits.

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InlandPolitics: Gas prices start to “inch” down

Gas Prices

Sunday, July 19, 2015 – 10:00 a.m.

California wholesale gas prices have fallen about 50 cents a gallon in the past 48-hours. But don’t wait for pump prices to fall significantly anytime soon.

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InlandPolitics: Newsgroup circulation numbers alarming

Newspaper

Sunday, July 19, 2015 – 10:00 a.m.

We routinely check-in on local newspaper circulation numbers to get a flavor for the financial health and continued viability of the various publications.

What we found was alarming.

Read the rest of this entry »

Gas Prices

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IE Business Daily

By IE Business Daily
Saturday, July 18, 2015

Anyone notice the price of gasoline this week? Of course, if you are like most Californians who have to drive to live (instead of living to drive like the car ads), you have noticed that the price of gas is up 80 cents a gallon in many locations. In some locations, the price is above five dollars a gallon!

Read the rest of this entry »

ExxonMobil

Exxon Mobil’s refinery in Torrance currently operates at less than 20% of its capacity after a February explosion. (Reed Saxon / Associated Press)

By Ivan Penn
July 17, 2015

The refinery that has historically produced about a fifth of Southern California’s gasoline has been crippled since a February explosion — and may stay that way for months to come.

Read the rest of this entry »

unemployment down

By Tiffany Hsu
July 17, 2015

  • Job Reports and Statistics Jobs and Workplace Job Market Unemployment and Layoffs

Job growth in California continued to hum along in June as employers added 22,900 nonfarm payroll positions from the previous month.

Read the rest of this entry »

The Lou Desmond & Company Show: Home Values Up, Donald Trump, Hillary Clinton

Lou Desmond

Friday, July 17, 2015 – 03:00 p.m.

The Lou Desmond and Company Show is coming to you from the Toyota of San Bernardino Recording Studios!

Tonight, Ed Hoffman, Doctor of Capitalism, joins the show to talk about the rising home values and sales in the Inland Empire and the shooting in Chattanooga, Tennessee. After that, they discuss Donald Trump. Ed likes him, Lou does not. But why is his popularity climbing?

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InlandPolitics: Still waiting for the gas shortage

A gas pump hozzle is shown in Wednesday, Aug. 4, 2010, in Portland, Ore.  Oil prices slipped toward $82 a barrel Thursday, pausing from a rally that lifted the commodity to a three-month high this week amid a weakening dollar and positive corporate earnings. (AP Photo/Rick Bowmer)

Friday, July 17, 2015 – 09:30 a.m.

Let’s just cut to the chase.

Where’s the expected major drop in California crude oil and refined gasoline production and stockpiles?

Read the rest of this entry »

Up Arrow

By Sarah Favot, Los Angeles Daily News
Posted: 07/16/15 – 7:33 PM PDT |

Fueled by an increase in home sales, the assessed value of all taxable property in Los Angeles County rose 6.13 percent in 2015 — the largest jump since 2010 — the county assessor reported Thursday.

Read the rest of this entry »

Home for sale

By Andrew Khouri
July 16, 2015

The Southern California housing market, known for its dramatic swings, is settling into a more normal, healthy pattern.

Read the rest of this entry »

Uber

Uber headquarters in San Francisco. (Eric Risberg / Associated Press)

By Laura J. Nelson, Andrea Chang and Paresh Dave
July 15, 2015

Uber — plagued by problems with regulators, drivers and taxi unions around the world — took a big blow in its home state Wednesday when an administrative judge recommended that the ride-sharing giant be fined $7.3 million and be suspended from operating in California.

Read the rest of this entry »

Lou Desmond

Wednesday, July 15, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is coming to you from the Toyota of San Bernardino Recording Studios!

Tonight on the show, Lou and Rob Starr from Toro joins the show to talk about new drought mandates that are limiting the amount of turf that can be put in at homes. Is the problem the water usage or the state’s water infrastructure?

Read the rest of this entry »

Calpers

Mary Childs and Alison Vekshin
July 14, 2015 -3:51 PM PDT

  • The $300 billion fund says it earned 2.4 percent in the last fiscal year, below its 7.5 percent target rate.

The chief investment officer of the biggest U.S. pension fund is most worried about low interest rates as the California Public Employees’ Retirement System struggles to earn enough money to pay beneficiaries.

Read the rest of this entry »

Los Angeles Times: CalPERS misses its target return by a wide margin

calpers

By Dean Starkman
Monday, July 13, 2015

The California Public Employees’ Retirement System said it missed its return target by a wide margin, hurt by a sluggish global economy and an under-performing private equity portfolio.

Read the rest of this entry »

InlandPolitics: California leads gas price ranking and it’s not even close!

 Gas Prices

Monday, July 13, 2015 – 08:45 a.m.

California has skyrocketed back to the number one position on the highest gas prices in the country list.

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InlandPolitics: Greece, EU strike third bailout deal

Greece Bailout

Monday, July 13, 2015 – 08:40 a.m.

Greece and it’s European counterparts struck a deal for a third bailout of the beleaguered nation early Monday morning in Brussels.

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California Street Commerce Center

An aerial view shows the plot of land next to the 10 Freeway being developed as part of the California Street Commerce Center in Redlands, north of the 10 Freeway and west of the Splash Kingdom Waterpark. Courtesy photo — Lee & Associates

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 07/12/15 – 7:59 PM PDT |

REDLANDS >> A major industrial project is taking shape next to the 10 Freeway and adjacent to the Splash Kingdom Waterpark.

Read the rest of this entry »

InlandPolitics: Is gas pump price spike criminal?

A gas pump hozzle is shown in Wednesday, Aug. 4, 2010, in Portland, Ore.  Oil prices slipped toward $82 a barrel Thursday, pausing from a rally that lifted the commodity to a three-month high this week amid a weakening dollar and positive corporate earnings. (AP Photo/Rick Bowmer)

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Related Content:
InlandPolitics: Oil Companies stick it to California driver’s again
InlandPolitics: More gas price manipulation: This time it’s creative!

Sunday, July 12, 2015 – 11:30 a.m.

In the past 72-hours the retail price of unleaded gasoline in the Inland Empire has spiraled out of control. It’s what happens when only four companies control the gasoline refining capacity for the entire state.

Read the rest of this entry »

InlandPolitics: Oil Companies stick it to California driver’s again

Smoke and Mirrors

Related: InlandPolitics: More gas price manipulation: This time it’s creative!

Saturday, July 11, 2015 – 11:30 a.m.

California regulators and politicians talk a good game. Especially when constituents become heated over high gas prices.

Read the rest of this entry »

InlandPolitics: March Joint Powers Authority launches general aviation facility

March - Millionaire FBO

Friday, July 10, 2015 – 09:00 a.m.

The March Joint Powers Authority has officially launched its new general aviation facility and fixed base operation at March Air Reserve Base.

Read the rest of this entry »

Michael Peevey

The Hotel Bristol Warsaw, where state regulators met with a utility executive.
Shareholder says company erred in not disclosing

By Morgan Lee | 6:13 p.m. July 9, 2015

A federal lawsuit filed this week accuses two top Edison International executives of harming shareholders by failing to disclose secret meetings with California regulators regarding a $4.7 billion settlement of costs for the failure of the San Onofre nuclear plant.

Read the rest of this entry »

Photo: Valero refinery

By Kevin Smith, San Gabriel Valley Tribune
Posted: 07/09/15 – 7:57 PM PDT |

California refineries support 2.4 million jobs that depend on the petroleum-based products they produce but increasing regulatory demands are jeopardizing their ability to continue operations in the state, according to a report released this week.

Read the rest of this entry »

InlandPolitics: More gas price manipulation: This time it’s creative!

Gas Prices

Thursday, July 9, 2015 – 10:00 a.m.

There’s some new spin on a now expected rise in California gasoline prices. That’s even though the price of crude oil has taken a steep fall in the past week.

Read the rest of this entry »

The San Diego Union Tribune: 2 new warrants served in CPUC case

California Department of Justice

Agents seek documents at headquarters for Edison, utilities commission
Read: Search warrants for Edison and CPUC
Download .PDF

By Jeff McDonald | July 6, 2015 – 06:00 a.m.

The criminal investigation of the California Public Utilities Commission appears to be intensifying, with state agents serving a fresh round of search warrants at the regulators’ headquarters in San Francisco and at Southern California Edison offices outside Los Angeles.

Read the rest of this entry »

Gas Prices

Consumer advocates say that oil refineries’ price manipulation are to blame for California’s high oil prices. (James Quigg / AP)

By Tiffany Hsu
July 6, 2015

Filling up at the pump is often painful in California, where drivers tend to pay more for gasoline than in most other states.

Read the rest of this entry »

Crude OIl Chart - 070615

Monday, July 6, 2015 – 09:00 a.m.

The price of crude oil is hovering near the $54 per barrel range Monday morning, following a big drop.

Read the rest of this entry »

Greece

Demonstrators hold flags and banners in front of Parliament in Athens in February. (Simela Pantzartzi/EPA)

By Ylan Q. Mui
July 5, 2015 at 2:55 PM

The financial crisis in Greece has upended the lives — and livelihoods — of residents of the Mediterranean nation. The shutdown of the banking system has resulted in long lines at ATMs to withdraw a daily maximum of just 60 euros, about $67. Citizens have stockpiled food and fuel, leading to empty shelves at grocery stores and crowded gas stations. Business leaders have warned that shortages of crucial medicines could be next.

Read the rest of this entry »

InlandPolitics: Greece says “NO” to European Union terms

Greece Flag

Sunday, July 5, 02:45 p.m.

Greece’s European Austerity Referendum went down in flames Sunday night.

The measure was overwhelmingly rejected by Greek voters.

Read the rest of this entry »

interest_rates

By Tom Petruno
July 4, 2015

The last six years of extraordinarily low interest rates have been all about rewarding borrowers at the expense of savers. But that is probably coming to an end.

Read the rest of this entry »

Daily Bulletin: Economic boost anticipated for Eastvale from logistics center

Logistics

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 07/02/15 – 8:27 PM PDT |

EASTVALE >> Plans are moving forward for the city’s largest development.

Read the rest of this entry »

Arrow

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
July 3, 2015

  • Biggest restructuring in 14 years for electricity ratepayers
  • Move affects PG&E, Edison, San Diego
  • Higher rates for up to 40 percent of customers

Regulators overhauled the state’s system for pricing electricity for millions of Californians on Friday in a move that they said will simplify the structure and bring rates closer in line with costs. Many customers who use the least amount of energy will probably see rate increases, but regulators said the system will be more fair.

Read the rest of this entry »

Standard and Poor's

By Chris Megerian
July 2, 2015

The Wall Street ratings agency Standard & Poor’s gave a vote of confidence to California’s finances on Thursday, upgrading its credit rating to its highest level in 14 years.

Read the rest of this entry »

California Money

By Samantha Masunaga
July 2, 2015

If California were a country, it would have the eighth-largest economy in the world, maintaining its ranking from July 2014.

Read the rest of this entry »

InlandPolitics: California gasoline price whipsaw not unnoticed

Gas Prices

Thursday, July 2, 2015 – 11:00 a.m.

The abusive gasoline price swings oil companies dished out on California driver’s from February to late June hasn’t gone unnoticed.

Read the rest of this entry »

InlandPoliics: Greece: What a headline for a newspaper!

Greece

Thursday July 2, 2015 – 10:30 a.m.

The headline in The Guardian, a British newspaper, is fitting.

Read the rest of this entry »

Economy

Thursday, July 2, 2015 – 10:00 a.m.

The June employment report, released by the U.S. Department of Labor on Thursday, wasn’t quite the bell ringer some were looking for.

Read the rest of this entry »

PMI

Purchasing Managers Index reading virtually unchanged at 52.4 in June; factory order and production growth holds steady.

Published: July 1, 2015 – 4:43 p.m.

Factory production forged ahead in June, but at a pace that seems indicative of an Inland Southern California economy that’s functioning on a more even keel.

To read story by Debra Gruszecki in The Press-Enterprise, click here.

Moreno Valley seal

Moreno Valley’s elected leaders may start discussing the project as early as July 15.

Published: July 1, 2015 – Updated: 11:29 p.m.

Developer Iddo Benzeevi cleared an important hurdle Tuesday night, winning backing from a Moreno Valley panel for his massive World Logistics Center warehouse complex.

But before the first bulldozer starts pushing dirt, the city’s elected leaders will have to sign off on the project that pits the promise of jobs and an economic boost against concerns of traffic and pollution. Most City Council members have received campaign support from Benzeevi, but none will say how they plan to vote.

To read story by Imran Ghori in The Press-Enterprise, click here.

Lou Desmond

Wednesday, July 1, 2015 – 04:30 p.m.

The Lou Desmond and Company Show is coming to you from the Toyota of San Bernardino Recording Studios!

Read the rest of this entry »

calpers

Business & Real Estate

By Dale Kasler
dkasler@sacbee.com
June 30, 2015

  • Pension fund continues to reshape portfolio
  • Goal is fewer speculative investments

CalPERS said Tuesday it plans to sell up to $3 billion worth of real estate as it continues to overhaul its investment portfolio.

Read the rest of this entry »

The Sun: Reports detail housing woes for Southern California residents

Housing Market

By Kevin Smith, San Gabriel Valley Tribune
Posted: 06/28/15 – 4:23 PM PDT |

The Southern California real-estate market is feeling the sting of a changing climate, as a pair of new reports finds renters, would-be homebuyers and black households losing ground in the face of competition from investors and a widening racial wealth gap.

Read the rest of this entry »

U-T San Diego: Judge wants Edison’s answers

Michael Peevey

At a March 2013 private meeting between a utility executive and then-president Mike Peevey of the California Public Utilities Commission, a framework for the San Onofre closure deal was discussed.

By Jeff McDonald
June 29, 2015 – 4:54 p.m.

The judge in charge of the San Onofre matter pending before the state Public Utilities Commission is seeking more details from Southern California Edison about its participation in a secret meeting in Poland regarding shutdown costs for the failed nuclear plant.

Read the rest of this entry »

InlandPolitics: Greece debacle more political theater

Greece

Sunday, June 28, 2015 – 10:00 a.m.

All eyes on the new Greek play. Really?

Greek Prime Minister Alexis Tsipras has called for a June 5 referendum asking voters to decide whether to accept more economic pain, which they will. But all the back and forth rhetoric over the weekend is sort of entertaining.

Read the rest of this entry »

U-T San Diego: Utilities: Let San Onofre deal stand

Are You Kidding Me

Edison, SDG&E, say $4.7 billion pact is in the public interest

By Jeff McDonald
June 26, 2015 – 4:58 p.m.

Southern California Edison and San Diego Gas & Electric have petitioned state regulators to reject the suggestion that the $4.7 billion settlement deal for the failed San Onofre nuclear plant be reopened.

Read the rest of this entry »

U-T San Diego: Utility regulators held post-Poland lunch

Michel Florio

Commissioner Michel Florio of the California Public Utilities Commission, left, discussed the closing of the San Onofre nuclear plant at a legislative hearing in 2013. (AP file/Rich Pedroncelli)
Peevey briefed colleague shortly after secret San Onofre meeting in Warsaw

By Jeff McDonald
June 26, 2015 – Updated: 5:16 p.m.

The regulator overseeing an investigation into the failure of the San Onofre nuclear plant met privately with then-California Public Utilities Commission President Michael Peevey days after Peevey returned from a secret meeting about the matter in Poland.

Read the rest of this entry »

The Press-Enterprise: JOBS: Amazon to add 1,000 more jobs

Amazon

Amazon doubled down on vow to create 1,000 jobs in three Inland Empire fulfillment centers at a hiring event in Moreno Valley on Tuesday, bringing the total job count to 2,000

Published: June 24, 2015 – Updated: 4:40 p.m.

Amazon has announced it will create 1,000 more jobs for its Inland Southern California fulfillment centers.

To read story by Debra Gruszecki in The Press-Enterprise, click here.

San Onofre

Under an agreement, Southern California Edison and San Diego Gas & Electric Co. ratepayers would pay $3.3 billion of the San Onofre shutdown costs, or 70%. Edison says the deal is “fair and reasonable.” (Allen J. Schaben, Los Angeles Times)

By Jeff McDonald
June 24, 2015

The San Francisco consumer group that helped broker the $4.7-billion deal dividing costs for the shutdown of the San Onofre nuclear plant said Wednesday that it no longer supports the agreement and called on regulators to reopen talks.

Read the rest of this entry »

Chapman University

By Margot Roosevelt / Staff Writer
June 24, 2015 – Updated 11:29 p.m.

Orange County will add more jobs this year than at any time in the past 15 years, buoyed in part by a reviving national economy, Chapman University economists predict.

Read the rest of this entry »

The San Francisco Chronicle: Report blasts secret talks between utilities, CPUC

CPUC

By Jaxon Van Derbeken
Monday, June 22, 2015 – Updated 7:19 pm

The ability of Pacific Gas and Electric Co. and other utilities to engage in back-channel talks with top California Public Utilities Commission officials unfairly skews decisions in favor of big-money interests, and the practice should be banned in rate cases, a review requested by the state agency concluded Monday.

Read the rest of this entry »

Money

By Samantha Masunaga
June 22, 2015

Chief executives of the country’s largest firms made 303 times more than a “typical” worker in 2014, according to a report from the Economic Policy Institute, a left-leaning think tank.

Read the rest of this entry »

Drugs

By Victoria Colliver
June 22, 2015
Updated: June 22, 2015 5:17pm

Drug shortages have turned into a nationwide chronic condition.

Disruptions in production, safety recalls, difficulties finding key raw ingredients, shifts in demand and decisions to discontinue certain products are just some of the reasons pharmaceutical makers give for not having enough supply. Nearly half the time, research shows, the reason is not disclosed, but the problem has escalated over the past five years.

Read the rest of this entry »

InlandPolitics: Inland warehousing juggernaut continues

Warehouse

Monday, June 22, 2015 – 09:00 a.m.

The Inland Empire logistics renaissance is booming,

Tilt-up warehouse construction is on fire and all those high-paying jobs, according to a handful of experts, are not far behind.

Read the rest of this entry »

InlandPolitics: Greece default borders on comical

(Source: Bloomberg)

Monday, June 22, 2015 – 08:30 a.m.

Will the economically-tiny nation of Greece default?

Is it already too late?

If it does. Will the event ripple through the financial markets?

Read the rest of this entry »

unemployment

By Chris Kirkham
June 19, 2015

  • California adds 54,200 jobs in May; unemployment rate slightly up to 6.4%
  • California continues nearly four-year streak of monthly job growth, adding 54,200 jobs in May

California employers continued a nearly four-year hiring streak by adding 54,200 jobs in May, one of the largest monthly employment jumps in the last year.

Read the rest of this entry »

The Sun: San Bernardino bankruptcy plan criticized in court

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 06/17/15 – 11:24 PM PDT |

RIVERSIDE >> The attorney representing bondholders who’ve invested about $50 million in San Bernardino came out swinging Wednesday in the first bankruptcy hearing since the city filed a bankruptcy exit plan that would pay bondholders only 1 percent of that.

Read the rest of this entry »

Sledgehammer

By Carolyn Said
Wednesday, June 17, 2015 – Updated 9:26 pm

An Uber driver is an employee, not an independent contractor, the California Labor Commission ruled this month, in a decision that foreshadows a big challenge to Uber’s business model and potential seismic changes to the nation’s classifications of workers.

Read the rest of this entry »

Up Arrow

By Andrew Khouri
June 17, 2015

Southern California home prices rose slightly in May, while sales jumped during the busy spring buying season.

Read the rest of this entry »

Janet Yellen

Federal Reserve Chairwoman Janet L. Yellen speaks in May at the Institute for New Economic Thinking Conference on Finance and Security at the International Monetary Fund in Washington. (Jacquelyn Martin / Associated Press)

By Jim Puzzanghera
June 17, 2015

Federal Reserve policymakers on Wednesday kept the central bank’s benchmark short-term interest rate near zero, opting against the first increase since 2006 after determining the economy still isn’t strong enough to handle it.

Read the rest of this entry »

wells fargo logo

jpmorganchase2

Wells Fargo, JPMorgan Chase and four other banks are still not meeting standards in handling troubled mortgage borrowers, federal bank regulators say. (Julie Jacobson / Associated Press)

By E. Scott Reckard
June 17, 2015

Four years after pledging to clean up wide-ranging foreclosure abuses, Wells Fargo & Co., JPMorgan Chase & Co. and four other banks still aren’t complying with customer-service standards imposed by a federal regulator.

Read the rest of this entry »

Los Angeles Times: Gap closing 175 namesake stores in U.S.

GAP

San Francisco-based Gap is closing 175 of its namesake stores. (Gene J. Puskar / AP)

By Associated Press
June 15, 2016

Gap plans to close 175 of its namesake stores and 250 jobs at its headquarters as the company tries to strengthen the struggling brand.

Read the rest of this entry »

Los Angeles Times: Higher home loan rates are likely as Fed rate hike looms

interest_rates

By Jim Puzzanghera and Andrew Khouri
June 14, 2015

In moving from London at the beginning of the year, Rose-Linn Jensen would have preferred to spend a year getting familiar with the Los Angeles area before buying a home.

Read the rest of this entry »

U-T-San Diego: Where did Peevey party proceeds go?

Peevey Dinner Photo

Organizers aren’t saying what happened to funds rejected by Berkeley

By Jeff McDonald
June 12, 2015 – 7:17 p.m.

Tens of thousands of dollars in proceeds from a February tribute dinner for former utility regulator Michael Peevey was turned away by the University of California after Peevey fell under the shadow of criminal investigation.

Read the rest of this entry »

Boeing Long Beach Factory

At the beginning of the year, Boeing had 17,566 employees in the Golden State — half of the 35,000 employed here 10 years ago. Above is Boeing’s Long Beach plant, which is being shut down. (Ricardo DeAratanha, Los Angeles Times)

By Melody Petersen
June 13, 2015

Once there were so many workers building military cargo jets at Boeing’s sprawling plant in Long Beach that employees put flags on their cars to find them in the vast parking lot.

Read the rest of this entry »

The Press-Enterprise: MORENO VALLEY: Warehouse question won’t be decided soon

Iddo Benzeevi

Iddo Benzeevi, CEO of Highland Fairview, is proposing the World Logistics Center on Moreno Valley’s east side. (David Danelski / File Photo)

Published: June 12, 2015 – Updated: 11:14 p.m.

Evaluating the World Logistics Center mega-warehouse won’t be a quick process.

Moreno Valley planning commissioners say they may need a couple more meetings to fully vet the 40.6-million-square-foot project proposed for the city’s east end.

To read story by Imran Ghori in The Press-Enterprise, click here.

Drought in California

By Lisa M. Krieger, San Jose Mercury News
Posted: 06/12/15 – 8:49 PM PDT |

SACRAMENTO >> In a historic step, California is cutting water allotments to some of the state’s most senior rights holders, who have depended upon essentially unlimited water from the state’s rivers and streams for more than a century.

Read the rest of this entry »

Lou Desmond

Thursday, June 11, 2015 – 04:00 p.m.

On the Lou Desmond and Company Show tonight, Jay Prag is in the Toyota of San Bernardino Recording Studious. Up first, Inland Empire companies and cities continue sending contracts to Orange County and Los Angeles. What can be done to keep jobs here?

Read the rest of this entry »

Moreno Valley seal

Two county transportation officials say a study on the impact of a warehouse project falls short.

Published: June 10, 2015 – Updated: 10:53 p.m.

As the World Logistics Center faces its first public hearing in Moreno Valley on Thursday, June 11, two county transportation agencies became the latest to say the mega warehouse proposal’s environmental analysis is flawed.

To read story by Imran Ghori in The Press-Enterprise, click here.

California Money

By Julia Horowitz, The Associated Press
Posted: 06/10/15 – 10:35 PM PDT |

SACRAMENTO >> After taking a significant recession-era hit, California’s economy has bounced back up to the seventh largest in the world as the state’s gross domestic product reached $2.3 trillion in 2014, according to figures released Wednesday by the U.S. Bureau of Economic Analysis.

Read the rest of this entry »

Moreno Valley seal

An environmental report on the proposed project — which would stretch 700 football field — could be vulnerable to court challenges, air board says. The developer, however, sticks by the report.

Published: June 9, 2015
Updated: June 10, 2015 – 8:02 a.m.

State air quality officials say that Moreno Valley’s environmental analysis of a proposed warehousing complex with enough indoor space for 700 football fields is “legally inadequate” and needs major revisions. The developer countered Tuesday that the report “meets all the requirements” of the state’s environmental quality law.

To read story by David Danelski in The Press-Enterprise, click here.

Dan Walters

Dan Walters
dwalters@sacbee.com
June 9, 2015

  • State Chamber of Commerce fights with four liberal groups
  • Most of its targeted bills fall by wayside
  • Top-two primary system helps business win

The Capitol’s longest-running conflict pits business against four liberal groups – labor unions, consumer advocates, personal injury attorneys and environmentalists.

Read the rest of this entry »

InlandPolitics: Rapists in the night!

Gas Prices

Tuesday, June 9, 2015 – 09:00 a.m.

Like rapists in the night, oil companies have picked, gouged and fleeced the pockets of California driver’s for the past three and one-half months.

Read the rest of this entry »

Wall Street

June 8, 2015 –  01:31 PM EDT
By Bernard Condon
AP Business Writer

NEW YORK (AP) — Those record profits that companies are reporting may not be all they’re cracked up to be.

Read the rest of this entry »

calpers

The nation’s largest pension fund is planning to slash the number of Wall Street firms its uses to manage its investments.

By Dean Starkman
June 8, 2015

The California Public Employees’ Retirement System plans to cut in half the number of Wall Street firms it pays to manage its $303 billion fund, an effort to cut down on high fees that drag down returns.

Read the rest of this entry »

Calstrs

Business & Real Estate

Teachers’ pension fund was pressured to dump holdings

By Dale Kasler
dkasler@sacbee.com
June 8, 2015

Ending a lengthy effort that had frustrated school teachers, CalSTRS has sold its investment in the firearms manufacturer linked to the 2012 massacre at a Connecticut elementary school.

Read the rest of this entry »

Lou Desmond

Monday, June 8, 2015 – 05:00 p.m.

Tonight on the Lou Desmond and Company Show: Judy Oakes was released from jail after serving six months of her five year sentence. You may recall, she is the one who stole the lunch money from the Rialto Unified School. Also, the TSA allowed 73 individuals with ties to terrorism into secure areas.

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Daily Bulletin: 2015 a big year for warehouse development in the Inland Empire

Warehouse

By Jim Steinberg, San Bernardino Sun
Posted: 06/06/15 – 8:58 PM PDT |

There’s an economic tsunami washing over the Inland Empire and it shows no signs of slowing down, experts say.

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Blue Shield of California

Blue Shield of California is seeking state approval for its $1.2-billion purchase of Care1st, a Medicaid insurer based in Monterey Park. Above, Blue Shied’s San Francisco headquarters. (Eric Risberg / Associated Press)

By Chad Terhune
June 5, 2015

  • Blue Shield of California takes on its critics in seeking state OK for a $1.2-billion acquisition of Care1st
  • Consumer groups dispute Blue Shield’s claim that the nonprofit doesn’t hold charitable assets

Health insurance giant Blue Shield of California is facing more questions over its loss of tax-exempt status as it tries to win state approval of a $1.2-billion acquisition.

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