Archive for the ‘ Business ’ Category

KPCC: Judge gives ExxonMobil OK to restart Torrance refinery

smiley emoticon

KPCC Staff
May 03, 2016 – 10:58 AM

A judge cleared the way Monday for ExxonMobil to restart its Torrance Refinery after an environmental group sued to keep it shut.

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KPBS: Deadline Passes In Probe Of Secret San Onofre Deal

Kamala Harris

Customers may now have little recourse for accountability for how they were handed a $3.3 billion bill for the San Onofre nuclear power plant’s shutdown after a radiation leak in 2012.

By Amita Sharma
Friday, April 29, 2016

Aired 4/29/16 on KPBS News.

While California Attorney General Kamala Harris gathers steam in her campaign to replace U.S. Sen. Barbara Boxer, the statute of limitations has run out for her to file charges for a secret meeting in Poland that spawned a San Onofre settlement.

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The Wall Street Journal: U.S. Growth Starts Year in Familiar Rut

GDP

Global headwinds, weak business spending could continue to weigh on GDP in coming quarters

By Jeffrey Sparshott
Updated: April 28, 2016 – 6:39 p.m. ET

A sharp pullback in business investment and weak global demand dragged down an already-lackluster U.S. economy in the opening months of 2016, the latest setback in a bumpy expansion entering its seventh year.

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The Sun: ONT international traffic continues to take off

Ontario International Airport

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 04/28/16 – 8:46 PM PDT |

ONTARIO >> International passenger traffic continues to see a sizable growth at L.A./Ontario International Airport, according to figures released Thursday by Los Angeles World Airports.

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Apple Inc.

Apple shares have been reeling this week after disappointing earnings results. (Matthias Schrader / Associated Press)

Paresh Dave
April 28, 2016

Billionaire business magnate Carl Icahn, whose investment decisions can influence the stock market, said Thursday that he dumped what was left of his nearly 1% stake in Apple Inc. on fears that Chinese authorities would bully the iPhone maker.

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Los Angeles Times: Apple’s quarterly sales fall for the first time in 13 years

Apple Inc.

By Paresh Dave
April 26, 2016

Apple Inc. forewarned investors of its first-ever drop in iPhone sales and its first decline in quarterly revenue in 13 years.

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NYSE - Gannett Station

A specialist works at the post that handles Gannett on the floor of the New York Stock Exchange on Aug. 5, 2014. (Richard Drew / Associated Press)

Times staff and wire reports
April 25, 2016

USA Today publisher Gannett Co. is making an aggressive push to buy the owner of the Los Angeles Times, a move that would bolster Gannett’s position as the nation’s largest newspaper company and continue the consolidation in the industry.

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SBCO

Supervisors OK spending $12 million on web-based financial management system

Published: April 22, 2016 – Updated: 7:09 p.m.

The San Bernardino County Auditor-Controller/Treasurer/Tax Collector’s Office will undergo an overhaul of its computerized financial management program with a more than $12 million state-of-the-art web-based system approved by the Board of Supervisors on Tuesday.

To read article by Joe Nelson in The Press-Enterprise, click here.

Jerry Brown

Gov. Jerry Brown carries notebook paper after unveiling his proposed 2016-17 state budget at the Capitol on Jan. 7. Brown warned that the state is overdue for a recession and needs to build reserves to cushion the effects of an economic downturn. (Renée C. Byer – rbyer@sacbee.com)

Capitol Alert
By Dan Walters
dwalters@sacbee.com
April 22, 2016 – 2:51 PM

  • Texas shines in ability to absorb a recession
  • California and Illinois at the bottom

California, whose state budget is highly dependent on volatile income taxes, is the least able big state to withstand a recession, according to a “stress test” conducted by Moody’s Investor Service.

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The Sun: Millions of square feet of warehouse space created Inland, more to come

An aerial view of warehouses in Riverside County.

By Fielding Buck, The Press-Enterprise
Posted: 04/19/16 – 11:06 PM PDT |

Warehouses totaling more than 6 million square feet of space were completed in the Inland region in the first quarter of 2016, and nearly 16 million square feet are under construction.

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United Healthcare

UnitedHealth Group Inc.’s campus in Minnetonka, Minn. The company will be exiting some Obamacare marketplaces in 2016. (Jim Mone / AP)

Noam N. Levey
April 19, 2016

UnitedHealth Group, the nation’s largest health insurer, announced Tuesday that it would stop selling health plans through the Affordable Care Act next year in most of the 34 of states where it operates.

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Los Angeles Times: Southern California home prices surge in March; sales inch up

Home for sale

Andrew Khouri
April 18, 2016

Southern California home prices jumped 5.6% in March, as buyers fought over a meager supply of homes for sale and bid up values.

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Shell

By David R. Baker
Friday, April 15, 2016 – Updated 5:04 pm

Fifteen years after blackouts swept the state, a Federal Energy Regulatory Commission judge has found that a division of Shell Oil engaged in fraud and market manipulation during California’s energy crisis, with company traders joking on tape about burning the evidence if they were ever caught.

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American Apparel

American Apparel headquarters and manufacturing building located on Alameda Street and 7th street in Los Angeles where the clothier that was once a fashion trailblazer has taken drastic steps to stave off financial ruin. (Al Seib / Los Angeles Times)

Shan Li and Natalie Kitroeff
April 15, 2016

Los Angeles was once the epicenter of apparel manufacturing, attracting buyers from across the world to its clothing factories, sample rooms and design studios.

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Jobs

Natalie Kitroeff
April 15, 2016

California added 4,200 jobs in March, the Employment Development Department reported Friday.

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Donald Trump

Donald Trump has not taken independent expenditure money and does not have the kind of war chest typical for a general election campaign. Above, Trump in Rome, N.Y., earlier this month. (Mike Groll / AP)

Stephen Battaglio
April 14, 2016

GOP bigwigs aren’t the only ones worried about Donald Trump winning the Republican presidential nomination.

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Microsoft

FILE – This July 3, 2014, file photo, shows the Microsoft Corp. logo outside the Microsoft Visitor Center in Redmond, Wash. In a lawsuit filed Thursday, April 14, 2016, Microsoft is suing the U.S. government over a federal law that lets authorities examine its customers’ email or online files without the customers’ knowledge. The lawsuit comes as the tech industry is increasingly butting heads with U.S. officials over customers’ privacy rights. (AP Photo Ted S. Warren, File)

By Brandon Bailey, AP Technology Writer
Associated Press
April 14, 2016, at 2:23 p.m.

SAN FRANCISCO (AP) — In the latest clash over privacy rights in the digital age, Microsoft is suing the U.S. government over a federal law that allows authorities to examine customer emails or online files without the individual’s knowledge.

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No Money

By Dale Kasler
Business & Real Estate
April 12, 2016 3:29 PM
dkasler@sacbee.com

  • Bankruptcy judge says estate of Alfred Villalobos lacks money to pay money owed state
  • Villalobos commited suicide in January 2015
  • Villalobos’ fortune overstated

RENO —

The late Alfred Villalobos, the central figure in the CalPERS bribery case, always insisted he did nothing wrong and he didn’t owe the state of California a dime.

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The New York Times: In California, Marijuana Is Smelling More Like Big Business

marijuana-leaf

By Ian Lovett
April 11, 2016

ADELANTO, Calif. — After decades of thriving in legally hazy backyards and basements, California’s most notorious crop, marijuana, is emerging from the underground into a decidedly capitalist era.

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901 Strada LLC - LLC

In one high-profile L.A. case, there’s been a long-running dispute about the true owner of a massive home being built in Bel-Air by developer Mohamed Hadid. The site is owned by 901 Strada LLC, an entity that lists no owner. (Francine Orr / Los Angeles Times)

James Rufus Koren
April 8, 2016

Delaware and Nevada aren’t the only states where it’s possible to set up a company without saying who owns it.

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Los Angeles

California’s economy will grow faster this year than the national economy, according to a new study. (Mel Melcon / Los Angeles Times)

Natalie Kitroeff
April 6, 2016

California’s economy will grow faster this year than the national economy, and unemployment will drop to 5% in early 2017, according to a new report by the UCLA Anderson Forecast.

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The Sacramento Bee: CalPERS rethinks ban on tobacco stocks

calpers

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
April 4, 2016 – 9:08 AM

  • Decision to sell stocks in 2001 has cost $3 billion, consultant says
  • Pension fund undertakes broader look at divestment policies
  • Anti-smoking group criticizes potential move

It’s been a hallmark of CalPERS policy for 15 years: no tobacco stocks.

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Minimum Wage

By Don Thompson, Associated Press
Apr. 4, 2016 – 2:59 AM ET

SACRAMENTO, Calif. (AP) — California’s governor is setting in motion the most populous state’s climb toward the nation’s highest statewide minimum wage of $15 an hour to take effect by 2022.

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Self-service kiosk ar McDonald's, Friargate, Preston

Sunday, April 3, 2016 – 12:00 p.m.

California is set to increase the state’s minimum wage to $15 per hour by 2022.

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Orange County Register

The Orange County Register was acquired by Digital First Media on Thursday, along with the Riverside Press-Enterprise. Digital First Media’s Southern California News Group now publishes 11 daily newspapers in Southern California, including this one.

By Beau Yarbrough, Inland Valley Daily Bulletin
Posted: 04/02/16 – 7:23 PM PDT |

The new publisher of The Orange County Register and Riverside Press-Enterprise says the papers aren’t going anywhere.

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Minimum-Wage

Liam Dillon and Patrick McGreevy
March 31, 2016

In a move that puts California at the forefront of efforts to raise wages for low-income workers across the country, the Legislature approved a sweeping plan Thursday to raise the minimum wage to $15 an hour over the next six years, boosting the future paychecks of millions of the state’s workers.

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Amazon

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 03/30/16 – 10:47 AM PDT |

SAN BERNARDINO >> Amazon is planning to add more than 1,000 jobs to the region, announcing Wednesday that it will build a second fulfillment center in the city.

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State Capitol

By Don Thompson, Associated Press
Mar. 31, 2016 – 2:22 AM ET

SACRAMENTO, Calif. (AP) — California state lawmakers are poised to enact the nation’s highest statewide minimum wage on Thursday, with gradual increases to $15 by 2022.

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Up Arrow

By Hudson Sangree and Hector Amezcua
hsangree@sacbee.com
March 29, 2016 – 6:44 PM

  • Major industries affected would be farming, restaurants and retail
  • Impact could be greater in rural areas where cost of living is lower
  • Farmers who sell produce out of state could have a harder time competing

A landmark plan to raise the state’s minimum wage to $15 by 2022 could create sweeping changes across the industries that rely on low-wage workers and improve the living standards for millions of Californians employed in farm fields, restaurants and retail stores.

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Jerry Brown

Gov. Jerry Brown joined legislators and labor leaders Monday in Sacramento to announce a landmark agreement that would make California the first state in the nation to commit to raising the minimum wage to $15 per hour statewide. (Renée C. Byer rbyer@sacbee.com)

Capitol Alert
By Jim Miller and Jeremy B. White
jmiller@sacbee.com
March 28, 2016 – 7:30 AM

  • Hourly wage would increase to $15 an hour by 2022
  • Announcement comes days after November ballot measure qualifies
  • Business groups call plan ‘reckless’

Gov. Jerry Brown, Democratic leaders and labor leaders Monday touted an agreement that would raise the minimum wage to $15 an hour by 2022, saying the pact should avert an expensive ballot fight this fall.

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Daily Bulletin: UPS adding jobs, space at Ontario airport

UPS

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 03/27/16 – 7:52 PM PDT |

ONTARIO >> UPS has unveiled plans to add 500 jobs, growing its operations at LA/Ontario International Airport over the next five years in a bid to keep up with the growth in e-commerce.

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Minimum-Wage

John Myers and Liam Dillon
March 26, 2016

Lawmakers and labor unions have struck a tentative deal to raise the statewide minimum wage to $10.50 an hour next year and then gradually to $15, averting a costly political campaign this fall and possibly putting California at the forefront of a national movement.

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InlandPolitics: Local economist gets called on poor Inland Empire wage growth

Jobs

Friday, March 25, 2016 – 11:00 a.m.

The Inland Empire’s economic cheerleader was out touting the region’s job growth this week.

But he didn’t say much about all-important wage growth.

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The Sacramento Bee: CalPERS makes big California solar investment

calpers

Business & Real Estate
By Dale Kasler

dkasler@sacbee.com
March 23, 2016 – 1:46 PM

  • Company operates big solar facilities near Palm Springs
  • Plants sell energy to utilities in California

CalPERS said Wednesday that it’s buying a significant stake in a solar energy company with operations near Palm Springs.

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California

John Myers
March 22, 2016

State lawmakers now face a political ultimatum over California’s minimum wage: quickly take action to boost it above the current $10 an hour, or stand aside for a fall campaign in which voters are urged to do it themselves.

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Orange County Register facility shown shortly after construction 1986. File photo from archive.

Digital First Media said Saturday that Freedom Communications’ attorney will accept its offer for The Orange County Register and The Press-Enterprise. (File Photo)

By Jeff Collins and Jonathan Lansner
March 19, 2016 – Updated 10:50 p.m.

Attorneys for The Orange County Register’s owner filed a motion Saturday asking a bankruptcy judge to approve the company’s sale to Digital First Media, the second-highest bidder in last week’s newspaper auction.

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clown-jack-in-the-box

Jim Erwin
Saturday, March 19, 2016 – 01:30 p.m.

Hates off to the Super-PAC consultant class.

This consulting cadre, the brain trust behind the $200 million in failed efforts to stop GOP Front-runner Donald trump, has meticulously fleeced the richest of America’s political class.

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Orange County Register

The Orange County Register building in Santa Ana. (Rick Loomis / Los Angeles Times)

Andrew Khouri
March 18, 2016

A U.S. District Court judge has approved a temporary restraining order to block Tribune Publishing’s purchase of the Orange County Register and Riverside Press-Enterprise, a decision that the owner of the Los Angeles Times has described as a “death-knell” to its bid.

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Orange County Register

The Orange County Register building in Santa Ana. (Rick Loomis / Los Angeles Times)

Andrew Khouri
March 17, 2016

The owner of the Los Angeles Times was selected as the top bidder for the Orange County Register and Riverside Press-Enterprise during the papers’ bankruptcy auction, but the U.S. Department of Justice immediately filed a lawsuit to block the deal Thursday on antitrust grounds.

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Los Angeles Times

The U.S. Justice Department sees “serious” antitrust issues with Tribune Publishing’s bankruptcy bid for The Orange County Register and The Press-Enterprise and would take action to keep any merger from hurting newspaper readers and advertisers in the region, according to letter to Freedom Communications this week. Los Angeles Times is owned by Tribune Publishing.

Jonathan Lansner / Staff Writer
March 15, 2016
Updated: March 16, 2016 – 9:55 a.m.

The U.S. Justice Department sees “serious” antitrust issues with Tribune Publishing’s bankruptcy bid for The Orange County Register and The Press-Enterprise and would take action to keep any merger from hurting local newspaper readers and advertisers, according to a letter to Freedom Communications.

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VW

The Volkswagen logo is displayed on a car. (Michael Probst / Associated Press)

Associated Press
March 15, 2016

Volkswagen Group’s big institutional investors, including California’s huge public pension fund, are suing the German automaker for $3.57 billion in damages over its handling of the emissions scandal, which has seen VW’s stock price shrivel by a third.

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Orange County Register

Newspaper boxes outside the Orange County Register in Santa Ana. A $45.5-million bid from Digital First Media for the assets of parent Freedom Communications will be the “stalking horse” bid in an auction Wednesday. (Don Bartletti / Los Angeles Times)

Laurence Darmiento
March 13, 2016

Digital First Media, owner of the Los Angeles Daily News, was selected Sunday as the bidder to beat in an auction for the assets of Freedom Communications, the bankrupt owner of the Orange County Register.

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The San Diego Union-Tribune: Complaint alleges PG&E conflict by Brown’s top aide

Jerry Brown

Gov. Jerry Brown discusses a bill with advisers including Executive Secretary Nancy McFadden. [Rich Pedroncelli / Associated Press file]

By Jeff McDonald & Patrick McGreevy |
March 11, 2016 – 6 p.m.

A consumer advocacy group filed a complaint Friday with the state ethics agency seeking an investigation into whether the top aide to Gov. Jerry Brown influenced appointments to the state Public Utilities Commission while she owned stock in PG&E, an allegation rejected immediately by the Governor’s Office.

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Money

Julie Makinen
March 11, 2016

Los Angeles is now the eighth most expensive city in the world for tourists and foreign businesspeople, a study released Thursday said, as a rising U.S. dollar has pushed the City of Angels ahead of pricey metropolises including Tokyo and Shanghai.

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The Sacramento Bee: Jerry Brown’s judicial friend steps away from PUC email case

San Onofre Nuclear Power Plant

The San Onofre nuclear power plant in northern San Diego County, was shut down in 2013, and the Public Utilities Commission sunsequently said ratepayers should pay 70 percent of the closure costs. The decision is now being contested.

Capitol Alert
By Dan Walters
dwalters@sacbee.com
March 9, 2016 – 10:44 AM

  • Justice J. Anthony Kline had blocked order to review communications
  • Lawyers seeking email access demanded that Kline recuse himself
  • Other judges will now decide whether emails should be released

Appellate Justice J. Anthony Kline, one of Gov. Jerry Brown’s oldest friends, has quietly stepped away from handling a case involving Brown’s communications with the Public Utilities Commission.

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calpers

James Rufus Koren
March 9, 2016

Moody’s Corp. will pay $130 million to the California Public Employees’ Retirement System to settle allegations that the ratings agency acted negligently by giving top scores to ultimately toxic investments that cost the pension fund hundreds of millions of dollars, CalPERS said Wednesday.

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Carl's Jr.

For years, corporate offices were based in Anaheim. The headquarters relocated 13 years ago to Carpinteria. (File Photo)

By Nancy Luna, Staff Writer
March 8, 2016 – Updated 5:10 p.m.

The parent company of Carl’s Jr., founded in Anaheim 60 years ago, is relocating its California headquarters to Nashville, Tenn.

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THE Press-Enterprise: REAL ESTATE: Inland commercial forecast mixed

Howard Warehouse - Redlands

Published: March 4, 2016 – 6:23 p.m.

A rapidly changing industrial landscape means a mixed bag for commercial real estate for the Inland area for the remainder of 2016, according to a forecast by a key real estate company.

To read Staff Report in The Press-Enterprise, click here.

Ontario International Airport

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 03/06/16 – 6:40 PM PST |

CLAREMONT >> What does a thriving LA/Ontario International Airport mean to the Inland Empire’s economy? It’s a question many economists and officials have asked as ONT’s passenger traffic dwindled by 32 percent from 2007 and 2010.

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Daily Bulletin: New CEO envisions a new Ontario Airport

Ontario International Airport

Guests from Ontario International Airport Authority and Ontario city officials speak with one another before a conference on the future of L.A./Ontario International Airport under local control at the Drucker School of Management in Claremont on Friday. (Photo by James Carbone)

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 03/04/16 – 7:19 PM PST |

CLAREMONT >> More direct flights, lower fares and a terminal solely for international service could be in store at L.A./Ontario International Airport under local control.

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Economy

Jim Puzzanghera
March 4, 2016

A surprisingly strong gain of 242,000 net new jobs last month helped ease fears that the U.S. was skidding toward a recession, but a disappointing drop in average wages showed that the labor market is still a ways from fully healed.

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Jobs

Jim Puzzanghera
March 4, 2016

The labor market showed surprising strength last month in the face of slowing global growth, adding a robust 242,000 net new jobs after disappointing gains in January added to fears the U.S. economic recovery was losing momentum.

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Yahoo!

Yahoo is facing mounting pressure from shareholders who are threatening to overthrow the company’s board.

By Wendy Lee
Updated: March 3, 2016 – 8:19pm

Yahoo Chief Financial Officer Ken Goldman on Thursday reassured investors that the struggling company is serious about exploring all of its options, including a sale.

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Daily Bulletin: Upland high stakes defense attorney Stephen Larson branches out

Stephen G. Larson

Attorney Stephen G. Larson at his home office in Upland last month. (Photo by Jennifer Cappuccio Maher/Inland Valley Daily Bulletin)

By Joe Nelson, The Sun
Posted: 03/02/16 – 2:00 PM PST |

Upland-based defense attorney Stephen G. Larson has been tied to some of the highest profile cases at both the local and national levels.

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Beacon Economics

A trio of new reports from Beacon Economics show that high home prices are driving low and medium-wage workers out of California. The studies also say that not enough homes are being built.

By Kevin Smith, San Gabriel Valley Tribune
Posted: 03/03/16 – 2:01 AM PST | Updated: 1 hr ago

California boasts some of the highest wages and fastest rates of job growth in the nation but high housing costs are pushing many people out of the state, according to a trio of reports released Wednesday.

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iPhone

By Sean Sposito
March 2, 2016
Updated: March 2, 2016 – 8:45pm

Around the time of the eighth major release of its mobile operating system in September 2014, Apple made a bold statement: Not even it could crack the software’s updated pass-code protections.

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iPhone 6

Apple and the FBI are at odds over creating software to unlock an iPhone belonging to San Bernardino shooter Syed Rizwan Farook. (Erik S. Lesser / EPA)

Joel Rubin
February 29, 2016

Apple won the latest round in its battle with the U.S. government over accessing iPhones in criminal investigations on Monday when a federal judge said he would not force the technology company to assist in a drug probe.

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InlandPolitics: Gas prices: The Golden State Gouge

Gas Prices

Friday, February 26, 2016 – 09:00 a.m.

The Golden State Gouge!

I had never heard the phrase until Friday morning. But it would appear to be appropriate.

Read the rest of this entry »

Apple Inc.

Apple is battling the U.S. government’s order to circumvent security features on an iPhone that belonged to one of the San Bernardino attackers. (Jewel Samad / AFP/Getty Images)

Joel Rubin, Maura Dolan and James Queally
February 25, 2016

  • Apple says the FBI’s court order violates its free speech rights

Apple dug in Thursday for its blockbuster legal battle against the U.S. government, arguing in new court papers that a federal judge overstepped her authority and violated the company’s constitutional rights when she granted an order compelling it to help unlock a terrorist’s iPhone.

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Los Angeles Times: Businesses can’t make workers share tips, appeals court rules

U.S. 9th Circuit Court of Appeals

Shan Li
February 24, 2016

A court ruling is pushing California restaurant owners to rethink how to pay employees.

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Tim Cook

Apple Chief Executive Tim Cook is resisting a federal judge’s order that Apple build software to unlock an iPhone used by one of the San Bernardino terrorist attackers. Above, Cook speaks in 2014. (Jeff Chiu / Associated Press)

Paresh Dave
February 19, 2016

Senior Apple executives underscored Friday that they have no intention of backing down in a high-stakes fight with the FBI over an iPhone used by one of the shooters in December’s San Bernardino terror attack.

Read the rest of this entry »

Ted Olson

Apple has hired high-profile attorneys Ted Olson, above, and Theodore J. Boutrous Jr. to fight the FBI’s demand for help hacking into an iPhone. (Win McNamee / Getty Images)

Maura Dolan and Victoria Kim
February 18, 2016

A court order requiring Apple to create a way to help law enforcement get access to a terrorist’s smartphone amounts to an “unprecedented” stretch of an antiquated law — one that is likely to spark an epic fight pitting privacy against national security, legal scholars said Thursday.

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Apple Inc.

Prominent lawyer Ted Olson has joined Apple’s effort to fight a judge’s order calling on the firm to help the FBI gain access to data on a cellphone used by the San Bernardino terrorists.

Taylor GoldensteinT
February 18, 2016

Legal titan Ted Olson has signed on to help Apple Inc. fight a court order requiring the tech giant to assist the FBI in unlocking a phone belonging to one of the San Bernardino terrorists, court records show.

Read the rest of this entry »

Apple Inc.

Apple resists demand to help FBI hack into terrorist’s iPhone

Tracey Lien, Brian Bennett, Paresh Dave and James Queally
February 17, 2016

Setting up a pitched battle between Silicon Valley and the counter-terrorism community, Apple’s chief executive said Wednesday that his company would fight a court order demanding the tech giant’s help in the San Bernardino attack investigation, turning what had been a philosophical dispute into a legal skirmish that could have major ramifications for the tech industry.

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California

Shan Li
February 17, 2016

Employers in Los Angeles and the rest of California will keep hiring in the next two years but at a slightly slower pace than in 2015, a new report said.

Read the rest of this entry »

The Press-Enterprise: MORENO VALLEY: Foes fail to get warehouse on ballot

Moreno Valley seal

World Logistics Center opponents fall short in a petition drive to let voters decide on the project.

Published: Feb. 16, 2016
Updated: Feb. 17, 2016 – 8:09 a.m.

Moreno Valley residents will not get a chance to vote on the World Logistics Center.

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

InlandPolitics: DFM bid for assets of bankrupt Freedom Communications is serious irony

Freedom Communications

Saturday, February 13, 2016 – 10:00 a.m.

Bankrupt Freedom Communication, parent company of The Orange County Register and The Press-Enterprise, has already been ran into the ground by former CEO Aaron Kushner.

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Orange County Register

Bidders interested in acquiring Freedom Communications, the bankrupt owner of the Orange County Register, had until Friday to submit initial offers. An auction is scheduled for next month. (Jae C. Hong / AP)

James Rufus Koren
February 13, 2016

An investor group led by the chief executive of Freedom Communications will not be among the initial bidders for the bankrupt company, in a reversal from a plan first announced in November.

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The Press-Enterprise: MORENO VALLEY: Big spending continues in warehouse battle

Iddo Benzeevi

Developer Iddo Benzeevi at an August hearing on the World Logistics Center. His company has spent more than $800,000 in campaign expenses to promote the project. (David Bauman/File)

Published: Feb. 11, 2016 – Updated: 10:20 p.m.

  • Highland Fairview, developer of the World Logistics Center, outspent foes 4-1 in campaigns for competing initiatives.

The developer of the World Logistics Center in Moreno Valley spent more than $800,000 in the last few months of 2015 to promote the mega-warehouse.

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

Port of Los Angeles

The ports of Los Angeles and Long Beach reported a jump in imports last month compared with a year earlier, when severe congestion had snarled traffic.

By Erica E. Phillips
Updated: Feb. 11, 2016 – 3:33 p.m. ET

The two busiest U.S. ports on Thursday reported slight growth in imports, the latest sign that many companies are holding back on spending as they wait for the economic picture to clear.

Read the rest of this entry »

Ontario International Airport

Published: Feb. 9, 2016 – Updated: 1:25 p.m.

Registration is open for Claremont McKenna College’s half-day conference about the future of Ontario International Airport.

To read brief by Fielding Buck in The Press-Enterprise, click here.

Exxon Mobil

An Exxon Mobil ship sailed for 70 days off the coast of Singapore but never picked up fuel for California from the company’s two refineries there. Above, an Exxon tanker truck. (J. Scott Applewhite / Associated Press)

Ivan Penn
February 9, 2016

There’s an unusual new entry to the long list of reasons why Californians spent the last year paying significantly more for gasoline than other U.S. drivers: a mystery ship.

Read the rest of this entry »

calpers

CalPERS has completed the purchase of a New York office building for $1.9 billion.

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
February 9, 2016 – 10:18 AM

  • Purchase is one of largest real estate investments in fund’s history
  • Almost fully leased, building represents conservative strategy

CalPERS has completed one of the biggest real estate investments in its history, purchasing a New York office tower for $1.9 billion.

Read the rest of this entry »

The Sun: How the former Rialto Airport will be developed

Rialto-Seal

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 02/07/16 – 4:20 PM PST |

RIALTO >> One of the larger redevelopment projects in the Inland Empire is currently taking shape in and around the former Rialto Airport, with developers in discussions with potential tenants and city officials eager to usher in new housing, job and revenue opportunities.

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Bloomberg Business: Payrolls in U.S. Climb as Jobless Rate Declines, Wages Rise

Bloomberg Business

Victoria Stilwell
February 5, 2016 — 5:30 AM PST
Updated on February 5, 2016 — 7:16 AM PST

Job growth settled into a more sustainable pace in January and the unemployment rate dropped to an almost eight-year low of 4.9 percent, signs of a resilient labor market that’s causing wage growth to stir.

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Daily Press: Victorville officials tout outlook for growth at State of the City event

Victorville

SCLA leading city’s growth spurt, with more expected

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

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

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Wells Fargo

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

James Rufus Koren
February 3, 2016

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

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Kelly Fredericks

The Ontario International Airport Authority has tapped Kelly J. Fredericks as its chief executive officer. (Courtesy photo)

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 02/01/16, 5:55 PM PST |

ONTARIO >> When the new executive director for the Ontario International Airport Authority takes the helm in March, he will earn an annual salary of $398,500 — and bonuses could push it over $500,000 a year.

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MarketWatch: U.S. GDP fizzles in the fourth quarter

Economy

By Jeffry Bartash, Reporter
Published: Jan 29, 2016 – 1:30 p.m. ET

  • Growth tapers off as consumers, businesses cut back
  • Exports were a drag on growth throughout 2015.

WASHINGTON (MarketWatch) — The economy bogged down at the end of 2015, raising questions about whether U.S. growth is losing momentum.

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The Sacramento Business Journal: S&P says California economy might have peaked

Standard & Poor's

Allen Young, Staff Writer
Sacramento Business Journal
Jan 25, 2016 – 2:27pm PST

Standard & Poor’s, one of the nation’s top three credit ratings services, has forecast another year of economic growth for the California economy. But in a report released Monday, the agency also warned that the growth may soon end.

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The Press-Enterprise: ECONOMY: Inland jobless rate dips below 6 percent

Inland Empire

In December, unemployment in Inland Southern California dropped below 6 percent for the first time since the recession, according to figures released by the state.

Published: Jan. 22, 2016 – 3:58 p.m.

For the first time since the recession, the Inland unemployment rate dropped below the 6 percent figure, hitting 5.9 percent for December in the Riverside-San Bernardino-Ontario area.

To read Staff Report in The Press-Enterprise, click here.

Dan Walters

By Dan Walters
dwalters@sacbee.com
January 23, 2016 – 9:55 AM

  • California ended 2015 with employment gain
  • Yet recovery from recession has been uneven
  • High-skill and low-skill jobs grow, middling jobs stagnant

Gov. Jerry Brown delivered a mixed economic message to the Legislature last week – hailing California’s strong recovery from the Great Recession but warning it could quickly turn sour.

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Jobs

Chris Kirkham
January 22, 2016

California employers added 60,400 jobs in December, according to state data, one of the largest single-month gains in the last three years.

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InlandPolitics: As California gas prices slowly edge lower – a look at taxes

Gasoline Taxes 10-01-2015

(Source: American Petroleum Institute – 10/01/15)

Friday, January 22, 2016 – 09:30 a.m

Price Alert! The average price of unleaded gas in California has dropped to a whopping $2.701 per gallon, according to tracking website Gasbuddy.com.

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Hand Out

By Tracy Seipel
tseipel@mercurynews.com
Posted:    01/21/2016 – 12:01:48 PM PST
Updated: 01/21/2016 – 07:01:54 PM PST

California’s four largest health plans may be on the hook for $10 billion in state back taxes — and at least $1 billion every year going forward — if a closely watched legal case does not break their way.

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