Archive for the ‘ Finance ’ Category

Riverside-County-Seal

What happens could be an indicator for negotiations with other labor units whose deals expire next year.

Published: Aug. 30, 2015 – Updated: 11:14 p.m.

Members of a union representing Riverside County prosecutors and other county lawyers have been working since the end of June without a new contract and the county is taking a firm line on pay raises, according to the union’s president.

To read story by Jeff Horseman in The Press-Enterprise, click here.

calpers

Under a proposal, CalPERS would begin slowly moving more money into safer investments such as bonds.

By Melody Petersen
August 30, 2015

California taxpayers have never paid more for public worker pensions, but it’s still not enough to cover the rising number of retirement checks written by the state’s largest pension plan.

Read the rest of this entry »

InlandPolitics: What does Hillendale have to do with San Bernardino?

Tax Reform

Friday, August 28, 2015 – 08:30 a.m.

There’s an interesting uproar building in the drama surrounding San Bernardino trashing its fire department in favor of a contract with the San Bernardino County Fire Department for fire protection services.

It’s all about a $143 per year parcel tax.

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San Bernardino Seal

Wednesday, August 26, 2015 – 12:30 p.m.

Only San Bernardino, California could hatch a whacked-out and completely unlawful scheme to tax it’s property owners.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
August 25, 2015

  • Gov. Jerry Brown talks about climate change
  • But there are warnings about other disasters
  • Earthquakes, budget meltdown also threaten

Gov. Jerry Brown says California’s drought and the wildfires it has spawned are wake-up calls about the potentially cataclysmic effects of climate change.

Read the rest of this entry »

The Sun: San Bernardino moves to outsource fire, raise parcel tax

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 08/25/15 – 12:25 AM PDT |

SAN BERNARDINO >> The City Council voted 4-3 on Monday to move forward with transferring responsibility for fire and emergency protection to the County Fire Department, a move that would also mean a $142-per-year tax on every parcel in the city.

Read the rest of this entry »

Stock Market Plunge

By Chris Megerian and Phil Willon
August 24, 2015

Gyrations in the stock market have taken California’s fragile finances for a ride before — when the dot-com bubble burst, when the Wall Street crash sank the national economy less than a decade ago.

Read the rest of this entry »

Lou Desmond

Monday, August 24, 2015 – 05:00 p.m.

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

On the show today, Estimable Economist Jay Prag joins the show to discuss the rollercoaster ride that the stock market has been. At one point today it was down over 1,000 points. What does he predict in the coming months?

Read the rest of this entry »

Calpensions: Brown aides urge CalPERS to speed up rate hike

calpers

By Ed Mendel
August 24, 2015

CalPERS took another step last week toward a gradual long-term rate hike, a move to lower the risk of big investment losses as the maturing pension system enters a new era.

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InlandPolitics: California Democrats want more tax money

Taxes

Saturday, August 22, 2015 – 10:00 a.m.

Democrats in the California Legislature want to pick your pockets again!

Read the rest of this entry »

WALL STREET BONUS

Saturday, August 22, 2015 – 09:45 a.m.

The various U.S. stock market indexes have essentially declined 10% from their record highs earlier this year.

Now all of a sudden the world is coming to an end.

Read the rest of this entry »

InlandPolitics: California gasoline inventories climbing

Gas Prices

Friday, August 21, 2015 – 01:30 p.m.

California gasoline stockpiles at in-state refineries are climbing.

Read the rest of this entry »

Wall Street

Friday, August 21, 2015 – 01:00 P.M.

Global stock markets plunged on Friday, with the Dow Jones Industrial Average plunging 530 points. The S&P 500 fell 65 points, while the Nasdaq fell 171 points.

Read the rest of this entry »

New Home Construction

Workers build single-family homes at the Rosedale housing project in Azusa in this Feb. 26, 2013 file photo. (SGVN/Staff photo by Leo Jarzomb)

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 08/20/15 – 6:34 PM PDT |

Rising home prices across California have eroded affordability to the point that only seven counties, including San Bernardino, have housing that a family earning the median income can afford to buy, according to a study released Thursday.

Read the rest of this entry »

Moreno Valley seal

“This project is a game-changer of proportional magnitude not only for the city but the entire region,” said Mayor Jesse Molina, who was one of three supporters. Council members George Price and LaDonna Jempson opposed the project.

Published: Aug. 19, 2015 – Updated: 11:50 p.m.

After three years of controversy that has divided residents, Moreno Valley officials voted Wednesday, Aug. 19 to dramatically transform the city’s east side with what would be one of the largest warehouse complexes in the country.

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

California Taxes

By Jessica Calefati and Josh Richman, Staff writers
Posted: 08/20/2015 – 06:23:45 AM PDT

SACRAMENTO — State lawmakers on Wednesday took the first steps toward raising taxes and fees on motorists and further restricting Californians’ tobacco use as the Legislature convened special sessions aimed at solving the state’s transportation and health care funding crises.

Read the rest of this entry »

Dan Walters

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

  • Roadwork, Medi-Cal and carbon fees big issues
  • Taxes for transportation and health care need GOP votes
  • Republicans, pressured by anti-tax groups, are leery

The Legislature reconvened Monday after a monthlong summer recess and immediately focused on what most members like best: spending money.

Read the rest of this entry »

InlandPolitics: Inland Empire warehouse addiction continues

Howard Warehouse - Redlands

Monday, August 17, 2015 – 09:00 a.m.

The non-stop construction of warehouse properties in the Inland Empire is moving at a break-neck pace.

Read the rest of this entry »

The Press-Enterprise: MORENO VALLEY: Pact details warehouse costs

World Logistics Center

An artist’s rendering shows the World Logistics Center, which is proposed for Moreno Valley’s eastern end.

Published: August 14, 2015
Updated:   August 15, 2015 – 8:57 p.m.

  • Developer Highland Fairview would pay for upgrades inside the World Logistics Center, but funding for nearby work is less clear.

As a vote nears on the massive World Logistics Center warehouse, a big question has lingered.

Who would pay for the new streets, wider freeway interchanges and other improvements needed to serve the complex?

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

Pothole

A backlog of highway repairs is just one of the funding challenges that have state lawmakers looking for new revenue sources. (Mark Boster / Los Angeles Times)

By Chris Megerian and Patrick McGreevy
August 15, 2015

Gov. Jerry Brown and lawmakers will start tackling some of the state’s toughest challenges this week, and the solution to many of them may be new taxes and fees for Californians.

Read the rest of this entry »

Haggen

By Shan Li
August 14, 2015

Haggen Inc., the grocery chain that has struggled since rapidly expanding this year, is closing 27 stores, including 16 supermarkets in California.

Read the rest of this entry »

InlandPolitics: Gas Prices: Oil companies just can’t help themselves

Gas Prices

Friday, August 14, 2015 – 08:30 a.m.

Oil companies just can’t help themselves when it comes to sticking it to Southern California drivers.

Read the rest of this entry »

calpers

calstrs

By Dean Starkman
August 13, 2015

California’s two major public pension funds, the biggest in the nation, lost a total of more than $5 billion on energy-related investments for their fiscal years, ended June 30, according to a new report.

Read the rest of this entry »

The Los Angeles Times: California braces for falling yuan’s ripples

Currency exchange board showing cross rates between various countries

By Shan Li, Samantha Masunaga and Andrew Khouri
August 12, 2015

At the Beverly Center on Wednesday, a clutch of Chinese tourists spilled out of a bus and into the upscale mall, ready to snap up Gucci purses and Nike sneakers.

Read the rest of this entry »

Ballot Measures

Judy Lin, Associated Press
Tuesday, August 11, 2015 – Updated 11:14 pm

SACRAMENTO, Calif. (AP) — Proponents of a California pension initiative said Tuesday that state Attorney General Kamala Harris is once again favoring labor unions by using the same words she used to describe their previous failed bid to limit taxpayer spending on public pensions.

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Fitch-Rating

Fitch Ratings says it will be watching the outcome of the tentative agreement between L.A. and Ontario.

Published: Aug. 11, 2015 – Updated: 4:23 p.m.

Fitch Ratings said Tuesday that the tentative agreement between Ontario and Los Angeles to return Ontario International Airport to Inland control will stabilize ONT, “but there remain lingering credit issues.

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

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 08/11/15 – 8:19 PM PDT |

SAN BERNARDINO >> The City Council will get a report Wednesday supporting a plan to outsource fire services to the San Bernardino County Fire Department, City Manager Allen Parker said Tuesday.

Read the rest of this entry »

california_state_flag

Capitol Alert
By Jim Miller
jmiller@sacbee.com
August 10, 2015

  • California has relied on revenue anticipation notes every year since 2000-01
  • The short-term loans help smooth out revenue and expenses
  • About $26 billion is available for internal borrowing to avoid RANs in 2015-16

California can handle all of its cash flow needs in-house, State Controller Betty Yee said Monday, the first time since before the dot-com bust that that the state will make it through a fiscal year without turning to Wall Street for short-term loans to smooth the ebb-and-flow of tax revenue.

Read the rest of this entry »

Under Employed

Capitol Alert
By Dan Walters
dwalters@sacbee.com
August 11, 2015

  • Unemployment rate has climbed out of the cellar
  • However, by other measures state still lagging
  • Los Angeles County labor picture especially dark

Although California’s official unemployment rate climbed out of the cellar during the year that ended June 30, it still had the nation’s second highest rate of total “labor underutilization,” according to a new federal government report.

Read the rest of this entry »

Lou Desmond

Tuesday, August 11, 2015 – 05:00 p.m.

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

On the show today, Paul Chabot and Cliff Cummings join the show to talk about an idea floating in California: a per-mile gas tax to pay for infrastructure upgrades. Couldn’t the money come from somewhere else? (Like the Bullet Train.)

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
August 10, 2015

  • California has nation’s second-worst pavement conditions
  • New coalition wants $6 billion a year for maintenance
  • Republicans hold key, generally oppose added taxes

Special legislative sessions aren’t bound by the time limits of regular sessions, so one on financing road maintenance could run another 15-plus months.

Read the rest of this entry »

Los Angeles Olympics

The Olympics last came to Los Angeles in 1984, when the city refused to sign a guarantee that it would cover financial overruns. (Ken Hively / Los Angeles Times)

By Peter Jamison
August 11, 2015

Los Angeles is close to reaching an agreement with the U.S. Olympic Committee to be America’s candidate for the 2024 Summer Games, pledging to host the event at a projected cost of approximately $4 billion and offering a guarantee that the city would cover any financial overruns, officials involved with the bid said Monday.

Read the rest of this entry »

Mileage Tracker

This undated photo released by the Oregon Department of Transportation shows a display device on the dashboard that indicates how many and what kind of miles a driver has driven. Proponents of a California transportation funding approach excluded mileage-tracking systems from its suggested revenue sources. AP

Capitol Alert
By Jim Miller
jmiller@sacbee.com
August 10, 2015

  • California budget includes $10.7 million for mileage tracking pilot study
  • Some say motorists should pay by miles driven, not gasoline pumped
  • Backers of Monday’s $60 billion plan say such a system still years away

Higher gas and diesel taxes, revenue from the state’s cap-and-trade program, and increased vehicle license and registration fees are among the possible sources of new revenue included in a transportation-funding package of principles put forward Monday by a coalition of local government, business and labor groups.

Read the rest of this entry »

Donald Trump

By Alan Rappeport
Tuesday, August 11, 2015 – Updated: 8:04 a.m. |

Donald J. Trump’s feud with Fox News came to a close on Tuesday morning when the billionaire tycoon called into the network for a friendly interview, declaring “we’ve always been friends.”

Read the rest of this entry »

Lou Desmond

Monday, August 10, 2015 – 05:00 p.m.

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

Estimable Economist Jay Prag joins Lou tonight to discuss the announcement that the Ontario Airport will transfer back to local control. Will this be an economic driver for the Inland Empire economy?

Read the rest of this entry »

The Orange County Register: State kicking tires on idea to tax miles

Traffic comes to a complete standstill on the  southbound 55 freeway just north of the 22 freeway as California Highway patrol officers created a traffic break to remove a four-vehicle collision from lanes at about 7:15 a.m. ///ADDITIONAL INFO:  - Photo by BRUCE CHAMBERS, THE ORANGE COUNTY REGISTER - photos taken 04/01/09 -  ORANGE – Four vehicles have crashed at the southbound 55 freeway just north of the 22 freeway, one vehicle apparently has caught fire, and the wreckage has two lanes blocked, the California Highway Patrol says. At 6:26 a.m., the CHP got reports that a solo vehicle had spun out and was facing the wrong way, blocking the No. 1 lane. The CHP now says at least two vehicles are disabled in the center divider, blocking the carpool and No. 1 lane. Two other vehicles are involved and police say smoke is coming from one. An ambulance and tow trucks have been called to the scene. The CHP issued a SigAlert to clean up the mess. Traffic is backed up to near the 91 freeway.

With people driving more fuel-efficient cars and fewer miles, some states are pondering the question of how to pay for road upkeep funded largely with gas taxes. (Bruce Chambrs / File Photo)

By Nicole Knight Shine / Staff Writer
Updated Aug. 8, 2015 – 8:44 p.m.

The next time your Prius bounces through a pothole, consider the conundrum California faces.

Read the rest of this entry »

The Sacramento Bee: Budget-balancing bonds of 2004 finally paid off

Money

Capitol Alert
By Jim Miller
jmiller@sacbee.com
August 5, 2015

  • Voters approved Proposition 57 with more than 63 percent of the vote
  • Chiang and a top Brown aide said lawmakers in 2004 should have made the “difficult decisions”
  • In 2004, Brown told his local paper that Proposition 57 “made a lot of sense.”

Treasurer John Chiang and a top aide to Gov. Jerry Brown commemorated the final payoff Wednesday on billions of dollars in budget-balancing bonds, while chiding the “fiscal shortsightedness” of then-Gov. Arnold Schwarzenegger and lawmakers who backed the measure.

Read the rest of this entry »

Jon Ortiz

The State Worker
By Jon Ortiz
ortiz@sacbee.com
August 5, 2015

  • CalPERS’ and CalSTRS’ investment returns rose in 2013, but so did their pension debt
  • Unfunded public pension obligations totaled $4,425 per Californian in 2013
  • New ballot measure stirs debate over government retirement benefits again

Sacramento — With a new ballot proposal reigniting debate over government retirement benefits, the latest federal figures show California’s public pension debt in 2013 stood at $4,425 for every man, woman and child in the state, despite strong investment returns by public retirement funds.

Read the rest of this entry »

The Press-Enterprise: ONTARIO: Fox personality will speak at Inland forecast

Melissa Francis

Fox Business Network’s Melissa Francis will be the featured speaker at the sixth annual Inland Empire Economic Forecast Conference, Sept. 24 at Citizens Business Bank Arena.

Published: Aug. 4, 2015 – 12:15 p.m.

Fox Business Network’s Melissa Francis will be the featured speaker at the sixth annual Inland Empire Economic Forecast Conference.

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

calpers

Like other pension funds, CalPERS relies on private equity investing to meet its ambitious annual return target of 7.5% and keep pace with ever-growing obligations to its 1.7 million current and future retirees.

By Dean Starkman
August 3, 2015

CalPERS is finally about to reveal how much it really pays Wall Street for its most rarefied services — and taxpayers can expect a dose of sticker shock.

Read the rest of this entry »

InlandPolitics: San Bernardino County: Pension fund hurt by low investment returns

SBCO

Monday, August 3, 2015 – 07:30 a.m.

It looks as if San Bernardino County will be forking over additional money for pensions.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
August 2, 2015

  • David Crane critical of pension funding
  • It’s cost him two high state appointments
  • But investor/teacher still firing bullets

There may not be a bounty on his head, but David Crane sits atop the enemies list for California’s public employee unions.

Read the rest of this entry »

InlandPolitics: California gasoline shortage never materialized

Gas Prices

Saturday, August 1, 2015 – 09:30 a.m.

The latest in-state oil refinery numbers, released Wednesday by the California Energy Commission, point to only one conclusion.

Read the rest of this entry »

Gas Prices

The recent surge in regional fuel prices has left L.A. area drivers paying the nation’s highest average for a gallon of gas. (Jerome Adamstein / Los Angeles Times)

By Ivan Penn
July 31, 2015

Oil refinery profits set a California record of $1.61 a gallon in July as consumers in the Los Angeles region paid as much as a dollar more than the rest of the nation.

Read the rest of this entry »

The Press-Enterprise: UCR: Study calls warehouse jobs low-paying

Logistics

UC Riverside researchers call for better pay and health care for warehouse workers.

Published: July 30, 2015 – Updated: 11:02 p.m.

  • Average hourly pay for blue-collar warehouse employee: $10.05
  • Employed through temporary staffing agency: 63 percent.
  • Average length of employment: 28 months.

While Inland cities are increasingly looking to the logistics industry for economic growth, two recent studies by University of California, Riverside researchers say the mainly blue-collar employees who work at warehouses are paid poorly and lack proper access to health care.

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

Wage Growth

Markets | Fri Jul 31, 2015 – 9:21am EDT
WASHINGTON | By Lucia Mutikani

U.S. labor costs in the second quarter recorded their smallest increase in 33 years amid tepid gains in the private sector, but it likely was a temporary setback against the backdrop of diminishing labor market slack.

Read the rest of this entry »

Lou Desmond

Thursday, July 30, 2015 – 05:00 p.m.

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

Tonight on the show, Lou is joined by Dr. Adrian Moore of the Reason Foundation. First up, San Bernardino has reached an agreement with the police department, but details are sparse. Then, Hillary got fired from her “favorite summer job” after just one week.

Read the rest of this entry »

InlandPolitics: Economy: GDP up 2.3% in second quarter

Economy

Thursday, July 30, 2015 – 07:30 a.m.

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

Read the rest of this entry »

San Bernardino Seal

San Bernardino Mayor Carey Davis called the contract agreement between the city and the San Bernardino Police Officers Association “very favorable” to the city.

By Ryan Hagen, The Sun
Posted: 07/29/15 – 5:42 PM PDT |

After more than two years of police leaving San Bernardino, saying the lack of a contract robbed them of a sense of stability in a city where many residents say crime is their top concern, the police union and city negotiators both say they’ve agreed on a new contract.

Read the rest of this entry »

Daily Bulletin: Upland approves $43 million budget, cuts shelter funding

Upland seal

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 07/27/15 – 6:16 PM PDT |

UPLAND >> The city council approved the 2015-16 budget, including $350,000 cut to the animal shelter, but not after a spirited deliberation that went into the early morning hours.

Read the rest of this entry »

Lou Desmond

Monday, July 27, 2015 – 04:30 p.m.

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

Tonight on the show, Jay Prag, estimable economist, joins the show. The Jay and Lou talk about the mayor of Murrieta’s sexual harassment accusations. Also, the mayor and city manager in San Bernardino can’t seem to get along.

Read the rest of this entry »

METRO

By Daniel Borenstein, Staff Columnist
Posted: 07/24/2015 – 04:00:00 PM PDT

Although public employee pension plans across California are badly underfunded, union leaders have expressed little concern about the security of workers’ retirement pay.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 25, 2015

  • Two proposed ballot measures use same strategy
  • They are aimed at voter approval for pensions, Delta tunnels
  • Opponents would be forced to argue public shouldn’t have a vote

It’s no secret that the Legislature’s dominant Democrats want to make it more difficult to place initiative measures on the statewide ballot.

Read the rest of this entry »

The Sacramento Bee: California’s gas tax drops to fourth highest in U.S.

Gas Prices

Lydia Holland replaces the gas nozzle after filling up at a Sacramento gas station in 2014. The Tax Foundation says in a new report that California’s gas tax, which recently dropped by 6 cents a gallon, is now the nation’s fourth highest. | Rich Pedroncelli AP

Capitol Alert
By Dan Walters
dwalters@sacbee.com
July 24, 2015

  • Pennsylvania has nation’s highest gas tax
  • California would have been No. 2 without recent cut
  • Alaska has the lowest tax on auto fuel

Both Congress and the California Legislature are noodling over whether to raise fuel taxes to pour more money into highway projects.

Read the rest of this entry »

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

Gas Prices

Friday, July 24, 2015 – 09:00 a.m.

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

However, California retail gasoline prices have barely budged.

Read the rest of this entry »

Citizens Business Bank

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

Published: July 23, 2015 – 2:36 p.m.

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

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

InlandPolitics: Where’s the gasoline shortage?

Refinery

Wednesday, July 22, 2015 – 04:30 p.m.

New data from the California Energy Commission begs the same question we’ve been asking all year.

Read the rest of this entry »

Gas Prices

Wednesday, July 22, 2015 – 08:00 a.m.

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

Read the rest of this entry »

LA County Seal

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

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

Read the rest of this entry »

Lou Desmond

Monday, July 20, 2015 – 04:30 p.m.

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

Tonight, Estimable Economist Jay Prag joins the show on this, the 46th anniversary of the Apollo 11 lunar landing. He and Lou discuss some high towing bills that were a result of the North Fire, which broke out on I-15 this weekend.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 19, 2015

  • Media reports on budget’s size vary widely
  • Their numbers are correct up to a point
  • Official numbers far less than total spending

It’s time again for some more fun with numbers – big numbers.

They’re the numbers associated with the 2015-16 state budget, which the Legislature and Gov. Jerry Brown enacted last month.

Read the rest of this entry »

InlandPolitics: Gas prices start to “inch” down

Gas Prices

Sunday, July 19, 2015 – 10:00 a.m.

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

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 18, 2015

  • California’s official poverty rate isn’t bad
  • Its real poverty rate is among nation’s highest
  • More jobs would be the best cure for malady

When the Census Bureau began calculating poverty a half-century ago – as a “war on poverty” became a hot issue in Washington – it devised a rather simple formula.

Read the rest of this entry »

InlandPolitics: San Bernardino County not “over the hump” on pension costs

Pension Reform

Saturday, July 18, 2015 – 02:30 p.m.

Several months ago county administrators told the Board of Supervisors the county was over the hump on ever escalating pension cost increases.

Not a chance!

Read the rest of this entry »

Gas Prices

.

IE Business Daily

By IE Business Daily
Saturday, July 18, 2015

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

Read the rest of this entry »

unemployment down

By Tiffany Hsu
July 17, 2015

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

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

Read the rest of this entry »

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

Lou Desmond

Friday, July 17, 2015 – 03:00 p.m.

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

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

Read the rest of this entry »

SANYO DIGITAL CAMERA

Friday, July 17, 2015 – 10:00 a.m.

California legislators apparently could give a gee-whiz about the sky-high gasoline prices sucking millions out of their constituents pockets.

Read the rest of this entry »

Up Arrow

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

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

Read the rest of this entry »

Home for sale

By Andrew Khouri
July 16, 2015

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

Read the rest of this entry »

Riverside-County-Seal

$1.285 billion: The estimated value of the county’s unfunded pension liability. More than 80 percent of the county’s pension obligations are already funded.

Published: July 15, 2015 – Updated: 10:42 p.m.

Riverside County officials say changes to the county’s public employee pension system have saved money, but that the county will still pay millions of dollars more to the statewide pension network.

To read expanded article by Jeff Horseman in The Press-Enterprise, click here.

Lou Desmond

Wednesday, July 15, 2015 – 05:00 p.m.

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

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

Read the rest of this entry »

California Governor Jerry Brown waits to speak during a news conference at the State Capitol in Sacramento, California March 19, 2015. REUTERS/Max Whittaker

California Governor Jerry Brown waits to speak during a news conference at the State Capitol in Sacramento, California March 19, 2015. (Reuters/Max Whittaker)

Politics | Tuesday, July 14, 2015 – 7:17am EDT

SACRAMENTO, Calif. | By Sharon Bernstein

After years of fiscal and policy restraint by California Governor Jerry Brown, a new crop of legislative leaders are trying to push the state further to the left, with mixed results.

Read the rest of this entry »

Calpers

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

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

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

Read the rest of this entry »

Riverside-County-Seal

The sheriff has been wary of the study, which would be done by an outside party.

Published: July 13, 2015 – Updated: 11:58 p.m.

Riverside County supervisors and Sheriff Stan Sniff continue to differ over the value of a planned review of the county’s public safety expenses, with supervisors calling it a fresh look to find savings and the sheriff blaming board-approved pay hikes for boosting his costs.

To read article by Jeff Horseman in The Press-Enterprise, click here.

California Seal

AP California News
By JUDY LIN
Associated Press
Jul 13, 4:59 PM EDT

SACRAMENTO, Calif. (AP) — California can proceed with setting up a state-run savings program for private-sector workers who don’t have access to retirement plans at work, under a rule change ordered by President Barack Obama on Monday.

Read the rest of this entry »

The Sacramento Bee: Opinion: Pensions fight gets new ammo

Dan Walters

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

  • Ballot measure seeks to curb pension spending
  • Both sides gearing up for a big fight next year
  • Paltry earnings by CalPERS provide fuel

It’s likely that California voters will be treated – or subjected – next year to a vitriolic campaign over public employee pensions.

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calpers

By Dean Starkman
Monday, July 13, 2015

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

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

 Gas Prices

Monday, July 13, 2015 – 08:45 a.m.

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

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InlandPolitics: Greece, EU strike third bailout deal

Greece Bailout

Monday, July 13, 2015 – 08:40 a.m.

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

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California Street Commerce Center

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

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

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

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IE Business Daily: California: Coming for Your Pocketbook Again!

Inland-Empire-Political-News-Political-Whispers

By IE Business Daily
Saturday, July 11, 2015

The State of California just passed a $125 Billion State budget which increases funding for education, welfare programs, and expands Medi-Cal.

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Riverside-County-Seal

Officials say settling cases is cheaper than going to trial. The families who sue say they want justice, not cash.

Published: July 10, 2015
Updated: July 12, 2015 10:27 a.m.

More than bullets are spent when a Riverside County sheriff’s deputy shoots a suspect.

Wrongful death lawsuits filed against the county Sheriff’s Department have cost taxpayers at least $8.39 million since 2003, a Press-Enterprise analysis found.

To read expanded story by Jeff Horseman in The Press-Enterprise, click here.

Los Angeles County - Take Home Cars

Supervisors Don Knabe and Michael Antonovich each exceeded the county’s price limit when they bought their hybrid SUVs: a $56,288 Chevrolet Tahoe and a top-of-the-line $65,648 GMC Yukon Denali, respectively. (Hans Gutknecht — Staff Photographer)

By Mike Reicher, Los Angeles Daily News
Posted: 07/11/15 – 3:23 PM PDT |

Walk the garage under Los Angeles County’s headquarters and you’ll see rows of practical Ford Tauruses and efficient Toyota Priuses — the ones with government seals on the front doors.

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West Covina

By Stephanie K. Baer, San Bernardino County Sun
Posted: 07/10/15 – 10:48 PM PDT |

WEST COVINA — Assemblyman Roger Hernandez, D-West Covina, said Friday that the findings of a state audit into the city’s fiscal mismanagement revealed criminal activity at City Hall that ultimately led to the waste of taxpayer money.

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