Archive for the ‘ Finance ’ Category

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

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

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

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Proponents of the Los Angeles-to-San Francisco high-speed rail line hope that erecting part of the line now will make future governors less likely to abandon the project. A viaduct in Fresno, Calif., is intended to carry the line over a freeway. (Credit: Jim Wilson/The New York Times)

By Adam Nagourney
July 30, 2018

  • In the face of sharp opposition and questions about how to pay for it, construction of California’s high-speed rail line is roaring ahead.

FRESNO, Calif. — It is vigorously opposed by Republicans, including President Trump. It has been plagued by escalating costs and delays. Californians are mostly against it. And a central question — how is it going to be paid for — remains unresolved.

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Bloomberg News
July 27, 2018

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

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

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

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

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

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

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Bloomberg: California’s Brown Says Cities on Their Own as Pension Tab Rises

By Romy Varghese
May 14, 2018 – 8:30 AM PDT

  • Governor says it’s not up to the state to help localities
  • California lawmakers passed pension overhaul in 2012

As California’s cities flounder under the rising cost of public pensions, they shouldn’t expect the state to extend a hand.

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By Benjy Egel
begel@sacbee.com

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

The Golden State is getting even richer.

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

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CALmatters: Bullet train colliding with reality


By Dan Walters | April 11, 2018 | Commentary

Reality may finally be catching up with the vision – or pipedream – of a 200-mile-per-hour train connecting California’s northern and southern regions.

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Jeff Daniels | @jeffdanielsca
Published: Mon, 19 March 2018 – 6:49 PM ET

Californians may still love the beautiful weather and beaches, but more and more they are fed up with the high housing costs and taxes and deciding to flee to lower-cost states such as Nevada, Arizona and Texas.

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The Hill: GOP pushes for ‘phase two’ of tax cuts

By Naomi Jagoda – 03/18/18 06:00 AM EDT

Republicans are increasingly talking about “phase two” of tax cuts — including a permanent extension of the new law’s individual tax cuts — in an effort to highlight their signature legislative accomplishment and force Democrats to take tough votes.

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Associated Press: California bullet train costs soar to $77B; opening delayed

By Kathleen Ronayne and Jonathan J. Cooper
Associated Press
Mar 9, 6:35 PM EST

SACRAMENTO, Calif. (AP) — The projected cost of California’s bullet train between San Francisco and Los Angeles has jumped to $77 billion and the completion date has been pushed back four years to 2033, according to a business plan released Friday.

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

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Jeff Cox | @JeffCoxCNBCcom
Published: March 9, 2018

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

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

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CALmatters: Commentary: California’s public pension crisis in a nutshell

By Dan Walters | Feb. 21, 2018 | Commentary

The essence of California’s pension crisis was on display last week when the California Public Employees Retirement System made a relatively small change in its amortization policy.

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CALmatters: Commentary: Proposition 13 turns 40, may face mid-life crisis



By Dan Walters | Feb. 18, 2018 | COMMENTARY

This year is the 40th anniversary of Proposition 13, the iconic property tax limit measure that California voters overwhelmingly endorsed in 1978.

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

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

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

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State income tax revenues for January totaled $16.34 billion, which was $2.53 billion higher than expected.

By Kathleen Pender
Published: February 13, 2018
Updated: February 13, 2018 – 4:00pm

California’s tax revenues far exceeded expectations in January for the second consecutive month, but it remains to be seen how much of the excess reflects underlying strength in the economy, versus people speeding up their 2017 state income tax payments while they were still fully deductible on federal tax returns.

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By Jeff Stein
February 12, 2018

California’s plan to shield residents from a tax hike under President Trump’s tax plan is likely to fail, said seven former high-ranking Internal Revenue Service and Treasury Department officials.

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

Business Wire
February 12, 2018

IRVINE, Calif.–(BUSINESS WIRE)–

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

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By Ed Mendel
Monday, February 12, 2018

The use of the word “unsustainable” had a distant echo this month as the League of California Cities issued a study of CalPERS rates, a move to get stronger local options for controlling rising pension costs.

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By Liset Marquez | lmarquez@scng.com | Inland Valley Daily Bulletin
February 7, 2018 at 4:51 pm

Ontario-Montclair School District is facing a $5.5 million deficit for the 2018-19 school year due to declining enrollment and increasing retirement obligations.

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

February 5, 2018 – 03:00 p.m.

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

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

Remember the small beleaguered San Bernardino-based Life Bank?

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

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By Jeff Horseman | jhorseman@scng.com | The Press-Enterprise
February 3, 2018 at 8:58 am

And they thought passage was the hard part.

Almost a year after Democratic leaders and a coalition of business, local government and labor interests lobbied furiously to get a massive road-repair bill through the state Legislature, the same alliance is ready to defend a 12-cent-per-gallon increase in California’s gas tax that’s key to the bill’s aim of raising more than $50 billion over 10 years.

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By Dan Walters | Feb. 4, 2018 | Commentary

From one end of California to the other, hundreds of cities are facing a tsunami of pension costs that officials say is forcing them to reduce vital services and could drive some—perhaps many—into functional insolvency or even bankruptcy.

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Fed caps growth at Wells Fargo over sham accounts, other consumer abuses.

By James Rufus Koren
Feb 02, 2018 | 5:25 PM

The Federal Reserve ordered Wells Fargo & Co. on Friday to cap its growth and improve its corporate governance, punishment for what the regulator called “widespread consumer abuses and other compliance breakdowns” at the San Francisco financial giant.

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By Adam Ashton
aashton@sacbee.com
February 01, 2018 – 12:01 AM

California’s swelling budget reserves are approaching a point where the state by law can’t save any more money ‑ but don’t expect a tax rebate.

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IE Business Daily: Republican Tax Plan a Boon for Working Americans

January 27, 2018

When Republicans in Congress passed the largest tax reform in the last 30 years, the opposition party held press conferences decrying the measure and telling the nation it was actually a big tax increase for the middle class. They referred to it as “Armageddon” and other outlandish descriptions of gloom and doom. Not a single Democrat in either the House of Representatives or the Senate voted for the measure.

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By Dan Walters | Jan. 29, 2018 | Commentary

During his second governorship, Jerry Brown has frequently touted big public-works projects as the mark of a great society—a marked change from his first stint four decades ago, when “small is beautiful” and “lower your expectations” were his oft-voiced themes.

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By Andrew Khouri
Jan 24, 2018 | 2:35 PM

Southern California median home price breaks record set last decade during housing bubble.

The Southern California median home price in December finally surpassed bubble-era highs, a milestone that took more than a decade to achieve and is once again raising concerns that housing is too costly.

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One of the elevated sections of the high-speed rail line under construction in Fresno. (Rich Pedroncelli / AP)
By Ralph Vartabedian
Jan 21, 2018 | 4:00 AM

Massive cost overruns threaten to derail the bullet train. Here’s what has to change

Only two years ago, the California rail authority unveiled an ambitious plan to begin operating a segment of bullet train service between San Jose and the Central Valley by 2025. It would take nearly every penny in its checkbook, but the rail authority assured the public it would work.

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By Jeff Horseman | jhorseman@scng.com | The Press-Enterprise
Published: January 8, 2018 at 4:19 pm | Updated: January 9, 2018 at 6:06 am

Riverside County’s $161 million savings could plummet to $8 million if costs aren’t cut, according to a new county staff report.

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

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By Dan Walters | Jan. 7, 2018 |

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

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Sunday, January 7, 2018 – 1:00 a.m.

A Great Recession give-back forced upon San Bernardino County employees will no longer apply to the county’s highest paid management employees, if county supervisors approve revisions to what is known as the exempt compensation plan on Tuesday.

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InlandPolitics: San Bernardino County cash reserves north of $400 million

Tuesday, January 2, 2018 – 12:00 a.m.

San Bernardino County, California is sporting a healthy budget reserve in its current fiscal year.

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Michael Smolens
December 29, 2017 – 05:00 a.m.

In the past few years, local taxpayers have saved a lot of money.

For those getting water from the Sweetwater Authority, it was $2.7 million.

In the Carlsbad Unified School District, folks saved $10.2 million.

And in San Diego, it was a whopping $323 million.

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InlandPolitics: S.B. County pension system deficit climbs in latest report

Tuesday, December 19, 2017 – 11:30 p.m.

It’s a not so Merry Christmas for the San Bernardino County, California pension system, which took another hit in its latest fiscal year.

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The State Worker
Chronicling civil-service life for California state workers
By Adam Ashton
aashton@sacbee.com
November 22, 2017 – 09:48 AM

Gov. Jerry Brown got most of what he wanted when he carried a proposal to shore up the state’s underfunded public employee pension plans by trimming benefits for new workers.

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

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

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

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The Sacramento Bee: Growing retirement costs are hitting new state budget hard

By Dan Walters
dwalters@sacbee.com
May 28, 2017 – 12:01 AM

California’s rapidly growing public employee retirement costs weigh heavily on the 2017-18 state budget now being fashioned, but their impact is only partially revealed in budget documents.

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Associated Press: $400 billion price tag for California single-payer bill

 

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AP Nation / World
By JONATHAN J. COOPER
Associated Press
May 22, 2017 – 7:05 PM EDT

SACRAMENTO, Calif. (AP) — A California bill that would eliminate health insurance companies and provide government-funded health coverage for everyone in the state would cost $400 billion and require significant tax increases, legislative analysts said Monday.

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

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

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A federal judge has raised issues with a proposed $142-million settlement between Wells Fargo and customers over the creation of unauthorized bank accounts.

James Rufus Koren
May 17, 2017

A San Francisco federal judge is leaning toward rejecting some of the terms of a $142-million settlement aimed at ending a bevvy of class-action lawsuits against Wells Fargo & Co. over its sham accounts scandal.

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The San Francisco Chronicle: Closer look at $175 million UC hid from the public

UC President Janet Napolitano reads her statement concerning the audit conducted Elaine Howle (right), state auditor. (Photo: Rich Pedroncelli, Associated Press)

By Nanette Asimov and Melody Gutierrez
May 14, 2017

News that thousands of students at the University of California often go hungry because they can’t afford meals prompted a generous promise last summer from UC President Janet Napolitano: $3.3 million for more food pantries and other ways of feeding the young scholars.

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

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

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

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Capitol Alert
By Jim Miller and Christopher Cadelago
jmiller@sacbee.com
May 11, 2017 – 10:45 AM

California Gov. Jerry Brown released a revised, $180 billion budget proposal Thursday that closely mirrors his January plan, maintaining a cautious approach amid uncertainty about the direction of the economy and possible federal actions that could hurt the state’s bottom line.

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Observations on California and its politics
By Dan Walters
dwalters@sacbee.com
May 08, 2017 – 2:07 PM

Democratic legislators have counted on a revenue surge to persuade Gov. Jerry Brown to loosen up on spending – but just the opposite is occurring.

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James Rufus Koren
May 5, 2016

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

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Observations on California and its politics
By Dan Walters
dwalters@sacbee.com
May 02, 2017 – 5:10 PM

Throughout California, local government and school district officials are writing new budgets and confronting rapidly rising costs of pensions.

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California budget
John Myers
April 28, 2017 – 4:07 p.m.

California’s most important month for collecting income taxes could end some $600 million short of official projections, based on preliminary data collected Friday.

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Early morning traffic makes its way along the 91 Freeway in Riverside County. A new report from a nonpartisan think tank finds that the recently passed $52.4 billion transportation funding bill, which raises the gas tax by 12 cents a gallon, isn’t a long-term solution for California’s transportation needs. (File)

By Jeff Horseman, The Press-Enterprise
Posted: 04/24/17 – 7:43 PM PDT |

A newly passed transportation funding bill that raises California’s gasoline tax by 12 cents a gallon isn’t a long-term fix for the state’s crumbling roads, according to a report released Monday by a nonprofit, nonpartisan think tank.

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

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

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

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

David Pierson
April 23, 2016

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

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The Sun: Hidden costs of gas-tax legislation: Jon Coupal

Gov. Jerry Brown speaks during a press conference regarding a landmark road repair and transportation investment package on April 4, 2017 in Riverside. (Stan Lim, The Press-Enterprise/SCNG)

By Jon Coupal
Posted: 04/21/1 – 4:11 PM PDT |

For the last three weeks this column has focused on both the policies and politics of the $5.2 billion annual transportation tax increase. In the unlikely event that some have forgotten — or were on another planet — the taxes include a substantial hike in the car tax as well as a 12 cent increase in the gas tax.

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By Mark Muckenfuss, The Press-Enterprise
Posted: 04/21/17 – 8:08 PM PDT |

Just a year ago, the faculty of California State University was ready to walk.

After months of stalled negotiations, the California Faculty Association and its members had already planned for a weeklong work stoppage when Chancellor Timothy White stepped into the process, cut a last-minute deal and kept the system’s classrooms open.

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By Natalie Kitroeff
April 21, 2017

  • Job Layoffs Job Market Jobs and Workplace Unemployment and Layoffs

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

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The Sacramento Bee: Gas tax deals illegal? ‘Preposterous,’ says Jerry Brown

Capitol Alert
By Christopher Cadelago
ccadelago@sacbee.com
April 19, 2017 – 11:37 AM

Gov. Jerry Brown on Wednesday dismissed as “preposterous” suggestions that he broke the law by providing district-specific projects to lawmakers to win their support for his $52 billion road repair package with tax and fee increases.

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By Dale Kasler
dkasler@sacbee.com
April 15, 2017

Blowing past state officials’ financial projections, three construction contractors submitted bids for the Oroville Dam repairs that begin at $275 million, the Department of Water Resources said Saturday.

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By Jeff Horseman | jhorseman@scng.com | The Press-Enterprise
Published: April 10, 2017 at 2:47 pm |
Updated:   April 11, 2017  at 10:13 am

Cutting 11 jobs and changing the staffing mix on fire engines are two ideas Riverside County supervisors will consider as they try to close an $11.9 million shortfall in the Fire Department’s budget for next fiscal year.

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Assembly Speaker Anthony Rendon (D-Paramount), left, Gov. Jerry Brown and Senate President Pro Tem Kevin de León (D-Los Angeles) were the forces pushing for a new transportation funding bill. (Gary Coronado / Los Angeles Times)

Patrick McGreevy, Melanie Mason and John Myers
April 9 , 2017

In one of the biggest legislative victories of his storied political career, Gov. Jerry Brown pushed through an ambitious plan last week that will increase gas taxes and vehicle fees to raise $52 billion over the next decade for the repair of California’s system of crumbling roads, highways and bridges.

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

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

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Democratic state Senators Ricardo Lara, of Bell Gardens, left, and Richard Roth, of Riverside, confer off the Senate floor in Sacramento. By a razor-thin margin, lawmakers late Thursday, April 6 approved a $5-billion-a-year boost in California’s gas and vehicle taxes to pay for major road repairs. (Rich Pedroncelli, Associated Press)

By Jeff Horseman / Staff Writer
Published: April 7, 2017 – Updated: 11:41 a.m.

Riverside County will get $420 million for transportation infrastructure projects, and four cities will finally get their vehicle license fee revenue back, thanks to a deal struck with two Democratic lawmakers to get their votes for a massive transportation funding package.

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Capitol Alert
By Jim Miller, Christopher Cadelago and Taryn Luna
jmiller@sacbee.com
April 8, 2017 – 12:01 AM

California drivers will begin paying 12 cents per gallon more in gas taxes later this year, the first of several tax and fee hikes contained in this week’s road-funding bill that eventually will cost the average motorist about $120 a year.

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Capitol Alert
By Taryn Luna and Alexei Koseff
tluna@sacbee.com
April 6, 2017 – 7:00 PM

The state Legislature on Thursday passed a sweeping $52 billion transportation plan that will raise California gas taxes after leaders struck deals with wavering lawmakers to fund road projects in their districts.

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Pay gap between men and women by industry

Natalie Kitroeff and Nina Agrawal
April 4, 2017

Today is Equal Pay Day, which was invented by an activist group two decades ago to draw attention to the wage divide between men and women.

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The Sacramento Bee: Jerry Brown’s gas tax increases still need more votes

By Dan Walters
dwalters@sacbee.com
April 3, 2017 – 3:22 PM

During Barack Obama’s presidency, Republican congressional leaders easily passed repeals of Obama’s landmark health insurance law, knowing they were DOA.

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California Gov. Jerry Brown discusses a plan to raise $52 billion to fix California roads, during a news conference Wednesday in Sacramento. The 10-year plan would boost the gasoline excise tax by 12 cents a gallon along with higher registration fees and a $100 charge on emission-free vehicles. Rich Pedroncelli (AP)

By Jeff Horseman, The Press-Enterprise
Posted: 04/03/17 – 8:25 PM PDT |

Gov. Jerry Brown is bringing his pitch for a $52 billion transportation funding plan to Riverside.

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U.S. News (AP): $52B Needed to Fix California Roads, Taxes and Fees Proposed

California’s governor and legislative leaders want to raise $52 billion to fix roads through a big increase in the gas tax.

By DON THOMPSON and SOPHIA BOLLAG, Associated Press
March 29, 2017, at 9:11 p.m.

SACRAMENTO, Calif. (AP) — California’s governor and legislative leaders on Wednesday proposed raising $52 billion to fix the state’s roads through a big gasoline tax increase, higher car registration fees and a charge on emission-free vehicles.

Read the rest of this entry »

Natalie Kitroeff
March 24, 2017

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

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Natalie Kitroeff
March 24, 2017

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

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Los Angeles Times: Trump budget would reignite California’s financial strains

Protesters rally in 2013 against cuts to Medi-Cal. (Rich Pedroncelli / Associated Press)

Evan Halper and Sarah D. Wire
March 16, 2016

President Trump’s budget would deliver a painful financial blow to California, with the potential to push a state that has struggled for years to keep its books balanced back into the kind of red ink that consumed it after the housing market collapse a decade ago.

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Los Angeles Daily News: California’s property tax burden 10th worst in nation

California’s 0.81 percent effective rate, by WalletHub math – that’s 81 cents per $100 of assessed value – was tied for 17th lowest among the states. (Register file photo)

By Jonathan Lansner,
jlansner@scng.com
Posted: 03/12/17 – 10:17 PM PDT |

Warning: Property taxes are due April 10.

Before you search for the bill and the checkbook – and perhaps express a few choice nasty words aloud about the financial pinch – let me make you extra grumpy.

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

Jeff Cox | @JeffCoxCNBCcom
March 10, 2017

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

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

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

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

Natalie Kitroeff
March 3, 2016

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

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The Sacramento Bee: Bullet train suffers two big setbacks that could be fatal

By Dan Walters
dwalters@sacbee.com
March 2, 2017 – 3:59 PM

Late Wednesday, the California High-Speed Rail Authority dispatched a report to the Legislature, crowing about progress in building a statewide bullet train system.

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By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 03/01/17 – 5:56 PM PST |

CLAREMONT >> President Donald Trump’s tough talk on potential tariffs — which has some fearing a trade war — also concerns a leading regional business and economy expert.

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Calpensions: CalPERS investment priority shifts to avoiding loss

Ed Mendel
February 27, 2017

Despite a low funding level little changed since massive investment losses nearly a decade go, CalPERS is focusing on avoiding another big loss, not risky attempts to maximize investment earnings.

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Sun Feb 26, 2017 | 10:11 pm EST

The White House will send federal departments a budget proposal on Monday containing the defense spending increase President Donald Trump promised, financed partly by cuts to the U.S. State Department, Environmental Protection Agency and other non-defense programs, two officials familiar with the proposal said.

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

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

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The Sacramento Bee: Once again, poll finds voters are ignorant on budget

By Dan Walters
dwalters@sacbee.com
February 19, 2017 – 4:00 PM

It’s been said that ignorance is bliss.

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Don Lee
February 14, 2017

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

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Chris Nichols
Thursday, February 9, 2017 | Sacramento, CA |

The share of California home buyers who could afford the state’s median priced home remained at just 31 percent during the last quarter of 2016, according to a new report.

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Los Angeles Daily News: Area pay raises shrink to smallest in a year

The December edition default index suggests local borrowers may need to monitor their 2017 household budgets more carefully. (Photo by Mark Wilson/Getty Images)

By Jonathan Lansner
Posted: 02/06/17 – 5:04 PM PST |

It might not have been the year-end bonus you expected, as Southern California pay raises dipped to a one-year low as 2016 ended.

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The Sacramento Bee: Trump threatens to defund ‘out of control’ California

In this Jan. 26, 2017 file photo, President Donald Trump speaks at the Republican congressional retreat in Philadelphia. . (AP Photo/Matt Rourke File)

Politics & Government
By Sean Cockerham
scockerham@mcclatchydc.com
February 5, 2017 – 5:17 PM

Washington —

President Donald Trump is threatening to withhold federal funds from “out of control” California if the state declares itself a sanctuary state.

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John Myers
February 5, 2017

During the depths of California’s budget crisis, talk in Sacramento about how many tax dollars were sent to Washington, compared with what the state received in services, generally sparked anger. But these days, it’s triggered fear.

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