Archive for the ‘ Business ’ Category

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.

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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.

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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.

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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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InlandPolitics: California Driver’s continue to get hosed at the gas pump

Gas Prices

Monday, January 18, 2016 – 11:30 a.m.
Last Modified: Monday, January 18, 2016 – 05:00 p.m.

As crude oil prices hit multi-year lows, California continues to get hosed by gasoline refiners.

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The Sacramento Bee: Dan Walters: State’s big housing dilemma

Dan Walters

By Dan Walters
dwalters@sacbee.com
January 16, 2016 9:54 AM

  • California falls short in meeting housing demand
  • Shortage pushes costs, especially rents, sky-high
  • Politicians talk about it, but do little

It’s time once again for some fun with numbers, in this case the data on California’s serious – and worsening – housing crisis.

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The Press-Enterprise: ONTARIO: CVB Financial tops Forbes list of best banks

Citizens Business Bank

CVB Financial tops Forbes 2016 list of America’s best banks

Published: Jan. 14, 2016 – 11:25 a.m.

CVB Financial tops Forbes 2016 list of America’s best banks.

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

Gas Prices

Wednesday, January 13, 2016 – 09:00 a.m.

It’s time for California taxpayers to float bonds to construct and lease, at a minimum, two mega-gasoline refineries within the state.

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Rams

By Aaron Wilson and Rachel Swan
January 12, 2016
Updated: January 13, 2016 – 7:22am

HOUSTON — Oakland, the city with no stadium plans and a halfhearted effort to hang on to the Raiders, gets to keep the team anyway — for now.

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Roger Goodell

NFL Commissioner Roger Goodell, addressing the media on Dec. 2, has cleared the way for a vote on possible relocation to Los Angeles. (Brandon Wade / Associated Press)

Sam Farmer and Nathan Fenno
December 9, 2015

The current stadiums in Oakland, St. Louis and San Diego are “unsatisfactory and inadequate,” and the proposed solutions are not viable to keep the Raiders, Rams and Chargers in their home markets, NFL Commissioner Roger Goodell said in a report distributed Saturday to all 32 teams.

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Bloomberg: Payrolls Surge, U.S. Jobless Rate at 5% as Workforce Grows

Bloomberg Business

Sho Chandra
Updated on January 8, 2016 — 7:09 AM PST
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  • U.S. Employers Add 292,000 Jobs in December

America’s labor-market juggernaut continued to roll unabated at the end of 2015.

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The Sacramento Bee: California exports plunge nearly 14 percent in November from 2014

down-arrow

Business & Real Estate
By Mark Glover
mglover@sacbee.com
January 6, 2016 12:07 PM

  • $12.86 billion in shipments is the lowest in six years
  • Analysts cite slowing economies among key trade partners
  • Year-to-date totals lag record 2014 by 4.3 percent

Sacramento —

Wavering economies among key California trading partners in the last half of 2015 landed with a thud in the Golden State in November.

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The Press-Enterprise: ECONOMY: Inland index shows marked decline

csusb_logo_new

The Purchasing Managers Index from Cal State San Bernardino scored at 42.1, down from 52.3 in November

Published: Jan. 5, 2016 – Updated: 2:40 p.m.

Weakness in new orders and production helped pull the area purchasing managers index for December to a six-year low, sparking concerns about a potential economic contraction.

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

NFL

Los Angeles has had several sites proposed for an NFL stadium over the years, yet the nation’s second-largest city is still without a team.

Sam Farmer and Nathan Fenno
January 5, 2016

In an aggressive move Monday to end the NFL’s two-decade absence from Los Angeles, three franchises — the Oakland Raiders, San Diego Chargers and St. Louis Rams — submitted relocation applications to the league on the first day they were eligible to do so.

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Daily Bulletin: Stater Bros. announces new CEO Pete Van Helden

stater Bros

By Ryan Hagen, San Bernardino Sun
Posted: 12/28/15 – 12:31 PM PST | U

SAN BERNARDINO >> After 36 years as chief executive officer of the largest private employer in San Bernardino County, Jack Brown announced Dec. 28 that he had appointed Pete Van Helden as CEO of Stater Bros. Markets.

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Reuters: U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

Reuters
Monday, December 28, 2015

(Reuters) – Strong online sales and demand for furniture and women’s apparel helped U.S. retail sales grow by a “solid” 7.9 percent this holiday season, according to MasterCard Advisors SpendingPulse.

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Gas Prices

Monday, December 28, 2015 – 09:45 a.m.

Every knew they wouldn’t let it go on for too long.

“They” being oil companies. “It” being low gasoline prices.

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The Sun: Inland Empire economy sees growth and expansion in 2015

Amazon

Workers work the assembly line at the new Amazon distribution center in San Bernardino. A fourth Amazon warehouse opened this year in the Inland Empire. (Staff File Photo)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 12/24/15 – 5:23 PM PST |

Positive employment growth, the expansion of the logistics industry in the Inland Empire and local control of Ontario Airport were key highlights for the regional economy in 2015, experts say.

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The Sacramento Bee: Dan Walters: Neighbors perhaps, friends no

Dan Walters

By Dan Walters
dwalters@sacbee.com
December 22, 2015 4:41 PM

  • California, 3 neighboring states much different
  • We get along with Oregon, not Arizona and Nevada
  • Relations with Nevada are particularly frosty

There’s always been an incongruity about California’s having three disparate states on its borders.

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Jobs

Chris Kirkham
December 18, 2015

California employers added just 5,500 jobs in November, according to federal data — a significant slowdown from more robust monthly gains earlier in the year.

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Help Wanted

In this Oct. 1, 2015 photo, a shopper walks past a store with a “Help Wanted” sign in the window, in New York. (AP Photo/Mark Lennihan)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 12/18/15 – 10:13 AM PST |

Los Angeles County and the Inland Empire both posted healthy job gains in November but California’s net gain amounted to just 5,500 jobs, the smallest monthly increase in more than three years.

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Janet Yellen

Federal Reserve Chairwoman Janet L. Yellen removes her glasses as she testifies on Capitol Hill on Feb. 25. (Pablo Martinez Monsivais / Associated Press)

Jim Puzzanghera
December 16, 2015

The Federal Reserve on Wednesday raised its benchmark short-term interest rate for the first time in 9 1/2 years, providing a long-awaited vote of confidence for the recovery from the Great Recession by beginning to remove the last of the central bank’s extraordinary steps to boost economic growth.

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Martin Shkreli

32-year-old suspected of plundering Retrophin to pay debts. (Martin Shkreli – Photographer: Francesco Nazardo)

Bloomberg Business

By Christie Smythe and Keri Geiger | December 17, 2015

Martin Shkreli, the boyish drug company entrepreneur, who rocketed to infamy by jacking up the price of a life-saving pill from $13.50 to $750, was arrested by federal agents at his Manhattan home early Thursday morning on securities fraud related to a firm he founded.

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Supreme Court of the United States

David G. Savage
December 14, 2015

California consumers who are angry about being hit with unexpected fees can be forced to air their complaints individually before an arbitrator rather than in a class-action lawsuit, under a decision handed down Monday by the U.S. Supreme Court.

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Los Angeles Times: CalPERS shelves controversial private equity policy

calpers

Melody Petersen
December 14, 2015

The state’s biggest public pension fund has repeatedly missed a key performance goal for its controversial private equity investments.

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Orange County Register

A bidding war may be emerging for the Orange County Register. (Don Bartletti / Los Angeles Times)

Andrew Khouri
December 14, 2015

A federal judge has approved a $4.5-million loan that will allow the Orange County Register to operate during bankruptcy — setting the stage for a possible bidding war by an insider group and the owners of the Los Angeles Times and the Los Angeles Daily News.

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The Sacramento Bee: Dan Walters: Los Angeles could be Olympic winner and loser

Dan Walters

By Dan Walters
dwalters@sacbee.com
December 13, 2015

  • City’s bid for 2024 games advances
  • Boosters say it could be profitable on $4.5 billion budget
  • But city would have to cover any losses

Los Angeles moved closer last week to becoming the venue for the 2024 Summer Olympics when voters in Hamburg canceled its bid.

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The Press-Enterprise: MORENO VALLEY: World Logistics Center foes seek a vote

Moreno Valley seal

Published: Dec. 7, 2015 – Updated: 11:41 p.m.

A group of Moreno Valley residents have launched a petition drive with the goal of overturning three city-adopted initiatives aimed at protecting the World Logistics Center from environmental challenges.

To read article by Michael J. Williams in The Press-Enterprise, click here.

The Press-Enterprise: REAL ESTATE: FHFA holds pat on mortgage loan limits

The Federal Housing Finance Agency (FHFA) Logo (PRNewsFoto/FHFA)

Federal Housing Finance Agency holds pat on mortgage loan limits in 2016, a move California Realtors say will make homebuying more difficult for first-time buyers.

Published: Dec. 4, 2015 – 4:42 p.m.

Put another crimp in the belt for housing unaffordability in California.

The Federal Housing Finance Agency recently said it will keep the 2016 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $417,000 on one-unit properties, and raised the cap to $625,500 in only four high-cost regions.

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

Los Angeles Times: Yellen signals rate hike is coming later this month

interest_rates

Don Lee
December 2, 2015

Federal Reserve Chairwoman Janet L. Yellen, saying the U.S. economy has come a long way since the Great Recession, gave clear signals Wednesday that the central bank was likely to raise interest rates this month.

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The Press-Enterprise: ONTARIO AIRPORT: Passenger traffic increases in October

Ontario International Airport

The number of flights increases; also, cargo tonnage is up at the Inland airport

Published: Dec. 1, 2015 – Updated: 4:59 p.m.

Both domestic and international passenger traffic at Ontario International Airport increased in October, up more than 5.6 percent. There were 380,584 passengers in October, compared with 360,256 for the same month one year ago.

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

California State University - San Bernardino

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 12/01/15 – 5:52 PM PST |

Manufacturing in the Inland Empire may be back in growth mode as manufacturers responded positively to questions about the state of their businesses, according to the latest report from the Institute of Applied Research at Cal State San Bernardino.

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The Hill: UnitedHealth CEO regrets entering ObamaCare

The Hill

By Sarah Ferris
12/01/15 – 11:05 AM EST

The CEO of UnitedHealthcare on Tuesday said he regretted the decision to enter the ObamaCare marketplace last year, which the company says has resulted in millions of dollars in losses.

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Sovaldi

Sovaldi, an expensive Hepatitis C treatment, is made by Gilead Sciences. (AP Photo/Courtesy of Gilead Sciences)

By Carolyn Y. Johnson and Brady Dennis
December 1, 2015 at 2:27 PM

–This story has been updated.–

Gilead Sciences executives were acutely aware in 2013 that their plan to charge an exorbitantly high price for a powerful new hepatitis C drug would spark public outrage, but they pursued the profit-driven strategy anyway, according to a Senate Finance Committee investigation report released Tuesday.

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The Sun: Amazon opens 6th California fulfillment center in Rialto

Amazon

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 11/24/15 – 4:51 PM PST |

RIALTO >> Online retail giant Amazon quietly began warehousing operations out of its sixth California-based e-commerce fulfillment center in Rialto earlier this month.

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Moreno Valley seal

Council members who approved the project in August again affirm their support. Two other council members, George Price and LaDonna Jempson, sought an election, but joined the majority, noting they lacked support.

Published: Nov. 24, 2015 – Updated: 10:28 p.m.

Three ballot initiatives aimed at protecting the World Logistics Center from environmental legal challenges won’t actually go to Moreno Valley voters.

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

Calpers

.

Bloomberg Business

Alison Vekshin
November 24, 2015 — 8:17 AM PST
Updated on November 24, 2015 — 9:15 AM PST

Private-equity firms reaped $3.4 billion in profit sharing for investing on behalf of the California Public Employees’ Retirement System since 1990, the sort of gains that have led to debate over why Wall Street pays lower taxes than most American workers.

Read the rest of this entry »

Moreno Valley seal

The City Council could call for an election or approve the initiatives themselves Tuesday, Nov. 24.

Published: Nov. 23, 2015 Updated: 10:57 p.m.

Three initiatives that could insulate the World Logistics Center from lawsuits have qualified for the ballot, Moreno Valley’s City Clerk said Monday, Nov. 23.

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

unemployment down

Chris Kirkham
November 20, 2015

California employers added 41,200 net jobs in October, a significant increase from more sluggish growth reported a month earlier, according to data released Friday.

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Los Angeles Times: Here’s where we stand on the NFL returning to Los Angeles

NFL

Los Angeles has had several sites proposed for an NFL stadium over the years, yet the nation’s second-largest city is still without a team.

Sam Farmer
November 19, 2015

The clock is winding down on the likelihood of the NFL’s return to Los Angeles by the 2016 season, and the situation is as murky as ever.

Read the rest of this entry »

ObamaCare

Health insurer UnitedHealth cut its earnings forecast, citing hits it expects to take from public insurance exchanges.

Chad Terhune
November 19, 2015

Industry giant UnitedHealth has warned it may quit selling Obamacare coverage across the country, raising questions about an expansion in California.

Read the rest of this entry »

The Press-Enterprise: SAN BERNARDINO: Layoff notices given at Wells Fargo

wells fargo logo

Workers in asset management and preservation were told their jobs would be eliminated in mid-January.

Published: Nov. 18, 2015 – Updated: 7:31 p.m.

Wells Fargo Bank has warned more than 100 employees in an operating unit of a San Bernardino office of its intention to eliminate their staff positions in January.

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

federal reserve

Jim Puzzanghera
November 18, 2015

Most Federal Reserve policymakers believe next month could be the right time to nudge up a key interest rate for the first time in nearly a decade, according to minutes of their last meeting.

Read the rest of this entry »

The Sacramento Bee: Dan Walters: Is California’s economy booming? Not really

Dan Walters

By Dan Walters
dwalters@sacbee.com
November 17, 2015

  • De León, Brown tout carbon reduction as economic benefit
  • However, the connection is tenuous
  • The state’s economy remains relatively lethargic

Kevin de León, the state Senate’s president pro tem, has been making his way slowly to a global conference on climate change in Paris next month.

Read the rest of this entry »

World Logistics Center

They file 48,000 signatures for ballot measures to fight challenges to the proposed World Logistics Center warehouse complex.

Published: Nov. 16, 2015 – Updated: 10:23 p.m.

Supporters of the World Logistics Center turned in about 48,000 signatures Monday for three ballot initiatives aimed at thwarting legal challenges to a 40.6 million-square-foot warehouse complex that would transform the city’s eastern side.

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

The Sun: San Bernardino approves outsourcing with Burrtec

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/17/15 – 12:42 AM PST |

SAN BERNARDINO >> After years of uncertainty going back at least to the first month of bankruptcy when the city started moving forward with outsourcing its refuse services, 72 city employees learned Monday night who their new employer will be: Burrtec.

Read the rest of this entry »

calpers

Though CalPERS has acknowledged private equity’s problems, including high fees and murky disclosure, its record of generating higher returns over time than it does in public stocks has made it an indispensable part of the portfolio, officials said.

Dean Starkman Dean Starkman
November 16, 2015

The nation’s largest public pension fund would have endured lower returns and higher volatility over the years had it not invested in private equity, even with its high fees and added risks, experts testified Monday.

Read the rest of this entry »

Los Angeles Times: L.A. Daily News owner expresses interest in bankrupt O.C. Register

Orange County Register

A bidding war may be emerging for the Orange County Register. (Don Bartletti / Los Angeles Times)

Andrew Khouri
November 14, 2015

Another bidder appears to be lining up for Freedom Communications, the owner of the Orange County Register that filed for bankruptcy last week.

Read the rest of this entry »

Los Angeles Times

Tribune Publishing, the owner of the Los Angeles Times, Chicago Tribune and other newspapers, said Thursday, Nov. 12, 2015, it expects a buyout offer to cut its staff by 7 percent. Chicago-based Tribune Publishing Co. owns 11 major daily newspapers.

By Tali Arbel, AP Business Writer
Posted: 11/12/15 – 10:03 AM PST |

The owner of the Los Angeles Times, Chicago Tribune and other newspapers says it expects a buyout offer to cut its staff by 7 percent.

Read the rest of this entry »

Sacramento-Business-Journal

Bill Hethcock, Staff Writer
Dallas Business Journal
Nov 11, 2015 – 10:05am PST

Roughly 9,000 California companies moved their headquarters or diverted projects to out-of-state locations in the last seven years, and Texas has been a prime beneficiary of the Golden State’s “hostile” business environment.

Read the rest of this entry »

Blue Shield
Blue Shield of California sued a former employee who has criticized the nonprofit insurer. (Bob Chamberlin/Los Angeles Times)

Chad Terhune
October 9, 2015

Health insurance giant Blue Shield of California sued its former public policy director and accused him of disclosing confidential company information.

Read the rest of this entry »

Los Angeles Times: Why supermarket magnate Ron Burkle couldn’t save Fresh & Easy

Fresh & Easy
Fresh & Easy’s fade-out comes as competition increases for local shoppers’ food dollars.

Shan Li and Samantha Masunaga
November 6, 2015

When Fresh & Easy was taken over by investor Ronald W. Burkle’s Yucaipa Cos. in 2013, it seemed as if the money-losing grocery chain would finally get a chance to turn things around.

Read the rest of this entry »

Los Angeles Times: Strong jobs data set stage for rate hike

Jobs

Employers across a broad spectrum of industries added a net 271,000 new jobs in October.

Don Lee
November 6, 2015

Hiring and wages surged last month as the unemployment rate dropped to 5%, a symbolic threshold with potential significance both for the economy and the 2016 election.

Read the rest of this entry »

Keystone Pipeline Oklahoma

The Obama administration will deny the federal permit for the controversial Keystone XL pipeline, officials say.

Christi Parsons and Paul Richter
November 6, 2015

President Obama announced Friday that he was rejecting the controversial Keystone XL oil pipeline project because it wouldn’t serve U.S. interests, dismissing its potential economic benefits as insignificant over time as he sought to close a long-running chapter in the political fight over global warming.

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Los Angeles Times: Fight over Pacific trade agreement begins

TPP

Don Lee
November 5, 2015

The long-anticipated release Thursday of the sweeping Pacific Rim trade agreement text set off an intense public battle over its pros and cons that probably will rage until Congress issues its own verdict next year.

Read the rest of this entry »

Los Angeles Times

By Sean Emery and Jonathan Lansner / Staff Writers
Nov. 4, 2015 – Updated 8:11 p.m.

The owner of the Los Angeles Times made a surprise offer Wednesday to lend $3 million to the owner of The Orange County Register and The Press-Enterprise in what may be a precursor to a bid to buy the two newspapers out of Freedom Communications’ bankruptcy.

Read the rest of this entry »

Fitch-Rating

High boarding costs and “possible” reversal of recent passenger increases cited by service.

Published: Nov. 2, 2015 – Updated: 10:52 p.m.

Fitch Ratings retained its A-minus listing for Ontario International Airport’s $59.6 million of fixed-rate revenue bonds, along with a “negative” outlook.

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

California State University - San Bernardino

Purchasing Managers Index for Inland Southern California registers 45.9 in October, setting a three-month trend of no growth in factory output and manufacturing.

Published: Nov. 2, 2015
Updated: Nov. 3, 2015 – 8:58 a.m.

The manufacturing sector in Inland Southern California is no longer growing, according to a new report by Cal State San Bernardino University’s Institute of Applied Research.

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

The Sun: San Bernardino chooses developer for Carousel Mall

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/03/15 – 12:38 AM PST |

SAN BERNARDINO >> A plan to dramatically redevelop the 42.6 acres downtown where Carousel Mall has sat since 1973 took a big step forward Monday when the City Council unanimously entered an exclusive negotiation agreement with two companies to develop the mall and adjacent Theater Square area.

Read the rest of this entry »

Freedom Communications

Monday, November 2, 2015 – 08:30 a.m.

Freedom Communications, parent of The Press-Enterprise and Orange County Register newspapers has filed for chapter 11 bankruptcy protection.

What a shock!

Read the rest of this entry »

Fresh & Easy

Customers are seen here shopping at a Fresh & Easy on Bonita Avenue in San Dimas earlier this month. (Photo by James Carbone)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 11/01/15 – 3:46 PM PST |

Haggen and Fresh & Easy’s pullout of Southern California’s grocery industry doesn’t exactly bode well for the soon-to-arrive new kids on the block.

But they’re coming — and they’re bringing lots of jobs with them.

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The Press-Enterprise: UC RIVERSIDE: There’s no drought, expert says

Christopher Thornberg

Without significant economic consequences, it’s just a water shortage, expert tells business leaders.

Published: Oct. 30, 2015 – Updated: 4:31 p.m.

UC Riverside economist Christopher Thornberg told hundreds of business leaders at a recent economic forecast that there is no drought.

To read article by Janet Zimmerman in The Press-Enterprise, click here.

Contract Arbitration

Alan Carlson, a restaurant owner and chef, was involved in a 2003 class-action suit against American Express. A decade later, a Supreme Court ruling enabled American Express to prevent merchants from bringing class actions. (Credit: Jason Henry for The New York Times)

By Jessica Silver-Greenberg and Robert Gebeloff
October 31, 2015

On Page 5 of a credit card contract used by American Express, beneath an explainer on interest rates and late fees, past the details about annual membership, is a clause that most customers probably miss. If cardholders have a problem with their account, American Express explains, the company “may elect to resolve any claim by individual arbitration.”
Stories from Our Advertisers

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Amazon

Amazon aims to reduce its traditional two-day delivery to less than two hours, and has expanded its Prime Now delivery service to more than 15 major U.S. cities in less than a year.

Chris Kirkham
October 30, 2015

Taree Truong wore a uniform bearing Amazon’s logo, signed into an Amazon tracking device and was told by Amazon dispatchers to make deliveries for its new Prime Now courier service across far-flung parts of Orange County.

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Reuters: Inventories hurt U.S. third-quarter GDP, domestic demand strong

GDP

Reuters
By Lucia Mutikani | Reuters
October 29, 2015

WASHINGTON (Reuters) – U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory glut, but solid domestic demand could encourage the Federal Reserve to raise interest rates in December.

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Ontario International Airport

Published: Oct. 27, 2015 – 3:48 p.m.

Passenger traffic at Ontario International Airport increased 1.64 percent for September over the previous year. The Inland airport had 341,089 travelers last month, compared to 335,589 in September 2014.

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

B-2 Stealth Bomber

A B-2 Spirit Stealth bomber taxis to the runway at the Northrop Grumman Corp. facility in Palmdale in 2014. Northrop will build 80 to 100 new strategic bombers over the next decade. (Al Seib / Los Angeles Times)

Melody Petersen and W.J. Hennigan
October 27, 2015

Aerospace giant Northrop Grumman Corp. won an intense four-year competition Tuesday to build the nation’s new fleet of stealth bombers, a project likely to create thousands of jobs in Southern California.

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Calpensions: CalPERS shifts focus to avoiding another big loss

Calpers

By Ed Mendel
Monday, October 26, 2015

Still underfunded after a $100 billion loss during the recession, CalPERS plans to slowly shift over decades to more conservative and lower-yielding investments, raising employer rates but reducing the risk of another financial bloodbath.

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Los Angeles Times: Sex scandal leads to verdict against Prime Healthcare hospital

Prime Healthcare

Stuart Pfeifer
October 24, 2015

Dr. Prem Reddy has frequently been criticized over his tough management, cost-cutting and reduced medical services at Prime Healthcare Services Inc., his fast-growing Ontario-based hospital chain.

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InlandPolitics: Pacific Premier Bancorp continues climb

Pacific Premier Bank

Saturday, October 24, 2015 – 09:00 a.m.

Pacific Premier Bancorp (Nasdaq: PPBI), the parent of Southern California-based Pacific Premier Bank, continues to grow, along with its share price.

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