Archive for the ‘ Finance ’ Category

VVDailyPress: State Controller reports who’s topping the pay scale

Money

Adelanto city manager, Hesperia Council highest paid locally

SHEA JOHNSON
STAFF WRITER
Posted Dec. 20, 2014 @ 8:39 pm
Updated Dec 20, 2014 at 8:59 PM

In general, city managers top the pay scale among city employees, and a report released this week by outgoing state Controller John Chiang indicates that the top brass in and around the Victor Valley and Barstow regions are not an exception to this trend.

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SacBee: Jerry Brown’s budget: Five things to watch

Jerry Brown

Gov. Jerry Brown gestures to a chart as he discusses his revised 2013-14 state budget plan at the Capitol in Sacramento, Calif., on Monday, May 13, 2013. Rich Pedroncelli / AP

Capitol Alert
The go-to source for news on California policy and politics
By David Siders and Jim Miller –
dsiders@sacbee.com

12/19/2014 4:08 PM | Updated: 12/19/2014 4:16 PM

Gov. Jerry Brown’s January budget proposal is just around the corner, and it’s the event every lawmaker, lobbyist and chief financial officer in your life will be talking about over the holidays.

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SacBee: California saw ‘striking’ job gains in November

Jobs

State added more than 90,000 jobs in one month
By Hudson Sangree –
hsangree@sacbee.com
12/19/2014 10:00 AM | Updated: 12/19/2014 8:58 PM

Recovering from the Great Recession has been slow and uncertain for many Californians, especially in the Central Valley. But a state labor report released Friday provided evidence that the Sacramento region is now adding higher-paying jobs.

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LATimes: Business groups cheer Obama’s move to normalize Cuba relations

Cuba

General Motors could eventually export vehicles to Cuba, a nation filled with aging relics. (Ernesto Mastrascusa, EPA)

By Andrew Khouri
December 17, 2014

President Obama’s decision to start normalizing relations with Cuba gives American business a fresh opportunity on an island once known as a travel hub for the U.S. jet set.

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Inflation

By Jim Puzzanghera
December 17, 2014

Plunging gasoline costs led to the largest drop in consumer prices in six years last month and added another complication for Federal Reserve policymakers as they try to determine when to start raising interest rates.

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federal reserve

By Jim Puzzanghera,
December 17, 2014

The American economic outlook, bolstered by robust job growth and a sharp drop in gasoline prices, was boosted a little more with the Federal Reserve’s signal that it would take as long as three years to raise interests to once-normal levels.

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The Sun: San Bernardino has bankruptcy workplan, gag order loosened

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 12/16/14, 8:58 PM PST | Updated: 28 secs ago

SAN BERNARDINO >> The city has a “work plan” to prepare its bankruptcy exit plan, and it’s been reviewed by the entire City Council — not just the small team that previously was allowed to know details of the confidential mediation where much of the city’s bankruptcy plan has been ironed out.

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By Chris Megerian
December 16, 2014

Despite efforts to tackle pension costs, state leaders have not set aside money for retiree healthcare

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LATimes: Southland home prices hit plateau

For Sale

The California Assn. of Realtors is predicting prices will grow 5.2% statewide next year, the slowest pace since 2011.

By Tim Logan
December 15, 2014

After a furious run-up in home prices in 2013, the Southern California housing market flattened out this year — setting the stage for slow but steady growth next year.

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Calpensions: CalPERS: extra contributions can yield big savings

calpers

By Ed Mendel
December 15, 2014

CalPERS is encouraging government employers to make extra payments to reduce their pension debt or “unfunded liability” if budgets allow, saying millions can be saved in the long run.

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SacBee: Opinion: Pension cost avoidance creates gaps

Dan Walters

By Dan Walters
dwalters@sacbee.com
12/14/2014 12:01 AM

California’s perpetual political debate over public employee pensions usually focuses on the benefits themselves – whether they are fair compensation for those doing the public’s work or, conversely, too generous.

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VVDailyPress: Adelanto councilman calls for jail moratorium

Prisonville

BROOKE SELF
STAFF WRITER
Posted Dec. 12, 2014 @ 8:10 pm
Updated Dec 12, 2014 at 8:27 PM

ADELANTO — While the Adelanto City Council will vote on a fifth prison in the city next month, one politician thinks that is enough.

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CCTimes: Conservatives blast Kevin McCarthy for CRomnibus

Kevin McCarthy

McCarthy

By Josh Richman
Friday, December 12th, 2014 at 11:57 am

A conservative super PAC is trashing House Majority Leader Kevin McCarthy, R-Bakersfield, for helping pass the $1.1 trillion “CRomnibus” spending bill, which some say doesn’t do enough to roll back President Obama’s executive actions on immigration.

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LATimes: Congress poised to allow cuts to private pension payouts

U.S. Capitol

Congressional action could mean that more than 1 million Americans could see part of their monthly pension checks evaporate.

By Evan Halper
December 11, 2014

More than 1 million Americans who were promised secure, predictable retirement income probably will see part of their monthly benefit checks evaporate as Congress moves to stabilize some private pension systems veering toward insolvency.

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LATimes: Disney, Koch used secret tax deals routed through Luxembourg, report says

Walt Disney Company

A investigative news report said Walt Disney Co. was among more than two dozen firms that engaged in complex deals in Luxembourg to avoid U.S. taxes.

By Dean Starkman
December 10, 2014

Walt Disney Co., giant conglomerate Koch Industries Inc. and other companies channeled hundreds of millions of dollars in profits through units based in Luxembourg in secret deals designed to avoid paying U.S. taxes, according to a new report.

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Ontario International Airport

By Hugo Martin
December 10, 2014

With fuel prices dropping and airline profits soaring, travelers could reap the benefits with a 5% drop in fares next year, according to a trade group for the world’s airlines.

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The PE: EASTVALE: City employees could get raises

Eastvale-Logo-Color

An assistant city manager position also would be created and filled if the acting city manager’s plan is approved

Published: Dec. 9, 2014 Updated: 10:00 p.m.

A proposal to give Eastvale employees a raise and reorganize City Hall staff by creating a new assistant city manager post will go the the City Council on Wednesday, Dec. 10.

To read story by Sandra Stokley in The Press-Enterprise, click here.

Federal Omnibus Spending Bill 2014-15

A copy of the fiscal 2014 spending bill is arranged for a photograph in Washington Jan. 14. (Andrew Harrer/Bloomberg)

By Ed O’Keefe
December 10, 2014 at 10:30 AM

{This item has been updated and revised.}

The $1.01 trillion spending bill unveiled late Tuesday will keep most of the federal government funded through next September — and it’s packed with hundreds of policy instructions, known on Capitol Hill as “riders,” that will upset or excite Democrats, Republicans and various special interest groups.

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Political: Budget bill shows GOP’s new muscle

House Speaker John Boehner Holds Weekly News Conference

Speaker of the House John Boehner is pictured. | Getty

Politico

By David Rogers
12/9/14 8:41 PM EST
Updated 12/10/14 8:51 AM EST

Capping weeks of backroom talks, House Republicans filed a $1.1 trillion year-end spending bill Tuesday night — a giant package that’s both a last marker for this Congress and first step toward GOP control in the next.

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VVDailyPress: Prime Healthcare plans IPO by 2017 amid fast-moving expansion, CEO says

Prime Healthcare Services

SHEA JOHNSON
STAFF WRITER
Posted Dec. 8, 2014 @ 5:17 pm
Updated Dec 8, 2014 at 5:21 PM

VICTORVILLE — Prime Healthcare CEO Dr. Prem Reddy said Monday that the fifth-largest hospital system in the U.S. plans to go public in the next two to three years.

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VVDailyPress: SCLA buildout continues

SCLA

By STAFF REPORTS
Posted Dec. 8, 2014 @ 4:08 pm
Updated Dec 8, 2014 at 4:11 PM

VICTORVILLE — The largely occupied Southern California Logistics Airport is going to boast a new industrial building on 22 acres that will help provide additional space to accommodate demand, a joint venture company announced Monday.

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freddie-mac-fannie-mae-logo

On Monday, Fannie Mae and Freddie Mac announced details of programs to back mortgages with down payments as low as 3%.

By Jim Puzzanghera, E. Scott Reckard
December 9, 2010

Housing finance giants Fannie Mae and Freddie Mac on Monday detailed plans to once again back mortgages with down payments as low as 3%, saying the move to make home ownership more accessible contains safeguards to protect against abuses that led to the subprime housing market crash.

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SacBee: California’s tax battle looms in ’16

Dan Walters

By Dan Walters
dwalters@sacbee.com
12/05/2014 10:12 PM

When Democrats lost their legislative supermajorities last month, it doomed even the very faint chance that legislators would enact the hefty tax increases liberal groups yearn to impose.

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SFChronicle: UC’s new motto: Take the money and run

Debra J. Saunders

By Debra J. Saunders
Updated 3:39 pm, Friday, December 5, 2014

When Gov. Jerry Brown was pushing Proposition 30 in 2012, he sold his measure with the promise that the income and sales tax increases in his measure would put off sharp tuition increases in the UC and CSU systems. Sacramento increased state funding for the University of California and California State University by 5 percent annually for two years, then 4 percent annually for the next two years. Budget documents heralded a four-year deal that would keep tuition flat.

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The Sun: San Bernardino County seeking injunction to prevent nurses’ strike

SBCO

By Jim Steinberg, The Sun
Posted: 12/04/14, 5:28 PM PST | Updated: 28 secs ago

San Bernardino County officials are seeking to block a planned strike by its 1,100 member nurses union, saying a two-day event next week “could cost taxpayers millions of dollars” if the county is forced to hire temporary nurses.

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California Money

By Joanna Lin / December 4, 2014

California taxpayers spend about $40 billion a year to pay their fire chiefs, mayors, tree trimmers and thousands of other city and county employees. Some – including harbor pilots in Los Angeles – make more than $300,000 a year. Others receive as little as $190, the payout for one planning commissioner in tiny Alpine County.

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Best Buy

Projections show that more than 70% of total job openings through 2018 will be in occupations that require no college degree, including those in retail. Above, employees of a Best Buy store in Culver City hand out coupons to shoppers waiting in line on Thanksgiving. (Marcus Yam, Los Angeles Times)

Andrea Chang
December 4, 2014

Southern California job creation has grown rapidly over the last two years, but the recovery has been dominated by lower-paying service jobs in retail and food services, according to new research.

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SacBee: Multimillion dollar California Senate shortfall behind layoffs

Kevin de Leon+Jerry Brown

Senate President Pro Tem Kevin de León, D-Los Angeles, left, seen with Gov. Jerry Brown, found out he had to cut the Senate’s budget. The California Senate faced an estimated budget shortfall of $3 million to $4 million through June, a top Senate official said this week. (Steve Yeater The Associated Press)

By Jim Miller
jmiller@sacbee.com
12/03/2014 10:14 p.m.

//The California Senate faces an estimated budget shortfall of $3 million to $4 million through June, a top Senate official said this week, offering the first detailed explanation of the fiscal problems behind last month’s layoffs of 39 Senate employees.

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Orange County Board of Supervisors

The Orange County Board of Supervisors. (Nick Gerda / Voice of OC)

Posted: Wednesday, December 3, 2014 6:00 am | Updated: 10:06 am, Wed Dec 3, 2014.
By NORBERTO SANTANA JR.

As the 20th anniversary of Orange County’s municipal bankruptcy approaches, county supervisors are on the verge of reversing the centerpiece reform that emerged from the $1.5-billion financial disaster.

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pensions

By Michael A. Fletcher
December 3, 2014 at 9:38 PM

Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans.

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Orange County Register

The Press-Enterprise

Orange County Register Publisher Richard Mirman said in a memo to employees that layoffs at the Register and Riverside Press-Enterprise are part of an attempt “to ‘right size’ the business back to appropriate levels.”

Freedom Communications lays off 100 employees
By Tiffany Hsu contact the reporter

Freedom Communications, the parent company of the Orange County Register and the Riverside Press-Enterprise, is laying off about 100 non-newsroom employees Wednesday.

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Tax Cut

By Jim Puzzanghera
December 3, 2014

The House overwhelmingly approved a one-year extension of $45 billion in tax breaks, mostly for businesses, after bipartisan efforts on a longer-term extension fell apart close to deadline.

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The PE: ONTARIO: Passenger numbers rise again at airport

Ontario International Airport

Ontario International Airport reports more passengers, with Aeromexico and Volaris flights to Guadalajara contributing to the uptick. The airport saw 3.42 million travelers from January to October, compared to 3.28 million last year. (David Bauman – Staff Photographer)

Published: Dec. 1, 2014 Updated: 8:36 p.m.

Passenger use at Ontario International Airport continues to rise, with a 4.11 percent increase since the first of the year, while October had the largest single-month increase of 2014, at 7.68 percent.

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

Published: Dec. 2, 2014 Updated: 11:20 p.m.

The California legislature’s 2013-2014 session ended Nov. 30 and, with it, any hope of an override of Gov. Jerry Brown’s veto of a bill that would have restored vehicle license fee revenue to Eastvale, Jurupa Valley, Menifee and Wildomar.

To read story by Sandra Stokley in The Press-Enterprise, click here.

By Lisa Mascaro, Michael A. Memoli and Joseph Tanfani
December 2, 2014

Hoping to prevent a government shutdown by opponents of President Obama’s immigration plan, House Speaker John A. Boehner floated a proposal Tuesday for funding most of the government — but not the immigration agencies — through the end of the 2015 fiscal year.

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LATimes: Lower oil prices will help U.S. economy, two top Fed officials say

Oil Well

An oil well near Tioga, N.D., in August 2013. (Karen Bleier / AFP/Getty Images)

By Jim Puzzanghera
December 1, 2104

Two top Federal Reserve policymakers said Monday that falling oil prices will help the U.S. economy even though the drop adds to concerns about low inflation.

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Politico: John Boehner makes sales pitch to GOP

John Boehner

House Speaker John Boehner (R-Ohio)

Votes on a year-end congressional deal hinge on Rep. Yoho.
By Jake Sherman and Anna Palmer
12/1/14 9:51 PM EST / Updated 12/2/14 10:09 AM EST

Top House Republicans agree on a two-part plan to keep the government from closing in nine days. Now comes the hard part: selling it.

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LATimes: Black Friday weekend sales slump amid holiday bargain marathon

down-arrow

Total spending during the Black Friday shopping weekend was forecasted to drop to $50.9 billion, down from $57.4 billion last year.

By Shan Li and Javier Panzar
November 30, 2014

Holiday promotions that debuted as early as October led to a sharp decrease in Black Friday weekend sales, as some consumers took a breather from buying, according to industry data released Sunday.

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Pension Reform

By Ed Mendel
Monday, December 1, 2014

What happens when a bankrupt city does not cut its largest debt, pensions, is getting its first test in Vallejo, which has higher average pensions and higher CalPERS rates than the two larger cities still in bankruptcy, Stockton and San Bernardino.

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National Journal

By Billy House and Sarah Mimms
November 30, 2014

Lawmakers reconvene Monday for the final two weeks of the 113th Congress, with some Republicans clamoring to use the power of the purse to block President Obama’s executive action on immigration and Democrats warning that such a strategy could lead to another government shutdown.

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SacBee: Opinion: California’s big projects still face money questions

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/30/2014 12:01 AM

Jerry Brown occasionally suggests that a bullet-train system and twin water tunnels in the Sacramento-San Joaquin Delta were born during his first governorship.

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By Jim Puzzanghera
November 29, 2014

The incoming Republican majority in Congress is preparing to give number-crunching a controversial twist, and the new math could make it easier for the GOP to cut taxes.

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SacBee: California fails to collect billions in court-ordered debt

By Jim Miller
jmiller@sacbee.com
11/28/2014 2:23 PM

California government is missing out on collecting billions of dollars in fines, victim restitution and other court-ordered debts, with current law offering conflicting fiscal incentives for the mix of agencies charged with getting the money, according to a recent report by the Legislature’s nonpartisan fiscal experts.

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NYSE Floor Trader

Reuters/Reuters – A trader watches the screen at his terminal on the floor of the New York Stock Exchange in New York October 15, 2014. (REUTERS/Lucas Jackson)

By Lionel Laurent | Reuters – Fri, 28 Nov, 2014

LONDON (Reuters) – A fresh slide in the price of crude wiped tens of billions of dollars off oil companies’ market value on Friday and signalled an end to the sector’s safe-haven status, as fears mounted over future profits and dividend payouts.

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LATimes: Big state tax decisions lie ahead for California voters

Los Angeles Skyline

A tough battle is expected over an attempt to change how the state’s 36-year-old landmark property tax initiative, Proposition 13, treats commercial property, said Rex Hime, president of the California Business Properties Assn. (Scott Harrison)

By Marc Lifsher
November 27, 2014

Picking a new president might not be the only crucial issue before California voters at the polls in two years’ time.

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LATimes: Lackluster consumer income and spending point to a slowing economy

Retail Sales

Consumers are in a buying mood, economists said, but they’re limiting spending because their incomes are not rising very fast. Above, accessories are displayed for sale at a store in New York. (Victor J. Blue / Bloomberg)

By Jim Puzzanghera
November 26, 2014

The economy just posted its best six-month stretch in 11 years, the labor market is on a record streak of job creation and gas prices are falling. But consumers — a key driver of U.S. economic growth — have not yet fully joined the party.

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LATimes: Cal State funding talks include scenario of turning away freshmen

California State University

By Carla Rivera
November 25, 2014

The University of California’s decision to raise tuition generated much controversy.

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SacBee: Brown-UC clash isn’t over money

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/25/2014 9:31 PM

The confrontation between Gov. Jerry Brown and the University of California is ostensibly about money.

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Ford Dearborn Assembly Plant

Ford F-150s move along the production line at the Dearborn Truck Plant in Dearborn, Mich., on Nov. 11. (Paul Sancya / Associated Press)

By Jim Puzzanghera
November 25, 2014

The economy grew faster in the third quarter than initially thought, expanding at a solid 3.9% annual rate, the Commerce Department said Tuesday.

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Bloomberg: California Pension Fund Bonus Payouts Climb 14% From Prior Year

calpers

By Michael B. Marois
Nov 24, 2014 – 10:49 AM PT

The $300 billion California Public Employees’ Retirement System, the largest U.S. public pension, paid $9 million in bonuses last fiscal year, up 14 percent from a year earlier as earnings exceeded benchmarks.

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Politico: GOP leaders uniting around plan to avoid shutdown

House Republican Leadership Address The Media After Conference Meeting

Sen. Mitch McConnell and Speaker of the House John Boehner are pictured. | Getty

By Jake Sherman and John Bresnahan
11/24/14 7:29 PM EST
Updated 11/25/14 8:39 AM EST

House Republican leaders are beginning to coalesce around a strategy to avoid a government shutdown in less than a month.

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Calpensions: CalPERS retirees outnumber active workers soon

calpers

By Ed Mendel
Monday, November 24, 2014

In a few years CalPERS retirees are expected to outnumber active workers, a national trend among public pension funds that makes them more vulnerable to big employer rate increases.

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SacBee: Opinion: California’s ‘comeback’ is still spotty

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/22/2014 9:02 PM

As he sought re-election to his fourth and last term as governor this year, Jerry Brown crowed about a “California comeback” after weathering the worst recession since the Great Depression.

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LATimes: California adds 41,500 jobs; unemployment rate holds at 7.3%

unemployment

By Tiffany Hsu
November 21, 2104

The California unemployment rate held steady at 7.3% in October, even as the state generated the largest increase in jobs in the nation.

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UTSanDiego: CalPERS wins yet another hollow victory

Pat Morris

Former San Bernardino Mayor Pat Morris ponders a question Wednesday, July 11, 2012, regarding the city council vote authorizing a bankruptcy filing outside San Bernardino City Hall in San Bernardino, Calif. (AP Photo/The San Bernardino Sun, Rick Sforza) Former San Bernardino Mayor Pat Morris ponders a question Wednesday, July 11, 2012, regarding the city council vote authorizing a bankruptcy filing outside San Bernardino City Hall in San Bernardino, Calif. (AP Photo/The San Bernardino Sun, Rick Sforza) — AP

Bankrupt San Bernardino rolls over, but pension problems persist
By Steven Greenhut
Nov. 21, 2014

SACRAMENTO — The recent announcement that the bankrupt city of San Bernardino has agreed to fully pay its pension debt to the California Public Employees’ Retirement System has public-employee unions cheering. But pension reformers, though demoralized, believe the CalPERS victory is a hollow one.

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SacBee: Opinion: Brown tries to hold line on spending

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/20/2014 8:27 PM

The election is over, the Legislature will soon reconvene and interest groups are starting to beat their drums – signals that the Capitol will soon begin its annual spasm of Darwinian combat known as the state budget.

Read the rest of this entry »

University of California

Tuition going up at University of California

By Larry Gordon
November 20, 2014

Over the din of students chanting their protest, the University of California regents voted 14-7 on Thursday to approve tuition increases of as much as 5% for each of the next five years.

Read the rest of this entry »

Allen Young
Staff Writer- Sacramento Business Journal
Nov 19, 2014 – 2:16pm PST Updated: Nov 19, 2014 – 3:06pm PST

Incoming tax dollars are predicted to climb about $2 billion above estimates in this year’s state budget, the nonpartisan Legislative Analyst’s Office reported Wednesday. But lawmakers could not spend the windfall on anything but public education, due to funding formulas guaranteed under state law.

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San Bernardino Seal

By Ed Mendel
November 20, 2014

A former Stockton city manager, Bob Deis, regarded as the architect of the Stockton plan to exit bankruptcy, is part of a consulting team hired by bankrupt San Bernardino this week to develop an exit plan.

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SacBee: UC regents move tuition increase plan forward

University of California

By David Siders and Alexei Koseff
dsiders@sacbee.com
11/19/2014 11:17 PM

SAN FRANCISCO — University of California regents moved forward with a controversial plan Wednesday to raise tuition if the state does not give the system more money, with the proposal expected to be finalized Thursday.

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Kaiser Permanente

Kaiser Permanente covers 7.3 million Californians. A company official said the HMO’s rate hikes for employers are running slightly below the 5% trend nationally and in California. (Bryan Chan / Los Angeles Times)

By Chad Terhune
November 19, 2014

Southern California employers expect their health-benefit costs to rise 4.8% next year as the economy recovers and mandates under the federal health law kick in, a new survey shows.

Read the rest of this entry »

InlandPolitics: San Bernardino County pension fund still has $2 billion funding gap

SBCO

Wednesday, November 19, 2014 – 09:00 a.m.

San Bernardino County’s pension fund isn’t in horrible shape. But it isn’t in great shape either!

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San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/18/14, 7:46 PM PST |

RIVERSIDE >> San Bernardino has six months to come up with a detailed plan to exit bankruptcy or its case will be thrown out of court.

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SacBee: Opinion: Big pension gap won’t vanish soon

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/18/2014 10:15 PM

State Controller John Chiang performed an admirable public service by publishing a detailed report on the finances of California’s public employee pension systems.

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San Bernardino Sign

The city’s lawyers suggested San Bernardino wasn’t eager to pick a fight with the nation’s largest public pension fund.

By Dale Kasler
dkasler@sacbee.com
11/18/2014 11:08 PM

Public employees and retirees in California absorbed a potentially devastating court ruling a little more than a month ago: Pension benefits can be legally slashed if their employers go bankrupt.

The cities in a position to cut pensions, however, have shown no interest in doing so.

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The Sun: San Bernardino pulls move toward outsourcing police

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/17/14, 3:35 PM PST | Updated: 57 secs ago

SAN BERNARDINO >> A move to ask the Sheriff’s Department to submit a bid to police the city was dropped Monday at the request of Mayor Carey Davis.

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SacBee: California tax revenue beating estimates

Tax Reform

By David Siders
dsiders@sacbee.com
11/17/2014 1:19 PM

Tax revenue to California’s general fund is running more than $1 billion above estimates since the July 1 start of the fiscal year, the state said Monday, as Gov. Jerry Brown prepares for another round of budget talks next year.

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InlandPolitics: Victorville SEC case has murky undercurrent

Victorville
Note: This is the first in a series of several related posts

Sunday, November 16, 2104 – 12:00 p.m.

Unsettling information pretaining to onging civil litigation involving the 2008 sale of bonds related to the construction of four large aircraft maintenance hangars at Victoville’s Southern California Logistics Airport (SCLA) has started to go public.

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InlandPolitics: San Bernardino to explore outsourcing public safety services again!

San Bernardino City Fire Departmentsan bernardino police

Saturday, November 15, 2104 – 12:00 p.m.

San Bernardino City Hall is once again making overtures in regards to the outsourcing of police services to the Sheriff’s Department.

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UTSanDiego: Why millennials don’t buy homes

Millennials

By Jonathan Horn
Nov. 14, 2014 – 01:47 p.m.

Whether it’s a scar from the Great Recession, being overwhelmed with student loan debt, or having the ability to move for a career, America’s generation of young professionals just aren’t buying homes the way their parents did, a UBS executive said in La Jolla Thursday.

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LATimes: California pension funds are running dry

John Chiang

New data on California public pensions from a website created by state Controller John Chiang come at a time of growing anger from taxpayers over the skyrocketing cost of public workers’ retirements. (Cheryl A. Guerrero / Los Angeles Times)

By Marc Lifsher
November 13, 2014

A decade ago, many of California’s public pension plans had plenty of money to pay for workers’ retirements.

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SacBizJournal: California moves up slightly on Forbes best states for business list

Forbes

Allen Young, Staff Writer
Sacramento Business Journal
Nov 12, 2014 – 2:37pm PST

Although the state’s political stage is still filled with bickering over whether the California comeback is real, another economic snapshot has reinforced some optimism: California has advanced two slots to No. 37 on the Forbes ” Best States for Business and Careers” list.

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For Sale

After years of boom and bust, home prices and sales in Southern California are now responding to the very thing they should: job and income growth, not loose lending standards or investors, economists and real estate analysts say.

By Andrew Khouri
November 12, 2014

The Southern California housing market took a step back last month, as home sales fell and price gains slowed. But homeowners shouldn’t despair and would-be buyers might even rejoice, analysts say.

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SacBee: California post-recession tax revenue growth exceeds U.S. average

california_state_flag

By Jim Miller
jmiller@sacbee.com
11/11/2014 2:42 PM

Despite dropping during the first three months of the year, state government tax revenue continued to surpass pre-recession levels through the end of June, according to a new study by The Pew Charitable Trusts.

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SFChronicle: Jerry Brown looks to solidify legacy with big state projects

Chiseling Into Rock

By Melody Gutierrez and Carla Marinucci
Sunday, November 9, 2014

SACRAMENTO — Fresh off winning a historic fourth term as governor, Jerry Brown plans to push ahead with a pair of projects that could transform the California landscape: high-speed rail and delta water tunnels.

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LATimes: Job gains were solid in October but wage growth still lags

Economy

By Jim Puzzanghera
November 7, 2014

October’s solid labor market growth of 214,000 net new jobs helped push the unemployment rate to a six-year low, but wasn’t strong enough to boost workers’ wages significantly, economists said.

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The Sun: San Bernardino will look to outsource, raises taxes

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/06/14, 8:36 PM PST |

San Bernardino voters’ decision not to change the way police and firefighters are paid is a “game-changer” that could mean outsourcing services and going back to voters next year — this time to raise taxes, the city’s bankruptcy attorney said Thursday.

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Stifel Financial

By Kevin Smith, San Gabriel Valley Tribune
Posted: 11/06/14, 5:13 PM PST |

Edward De La Rosa knows a thing or two about selling bonds.

As founder and president of Los Angeles-based De La Rosa & Co., he has helped entities like the University of California, the city of Los Angeles and Los Angeles International Airport obtain funds to build needed projects.

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LATimes: Brown brushes off GOP opposition to bullet train

nomoney1

By Michael Finnegan
November 6, 2014

Gov. Jerry Brown played down concerns Thursday about Republicans killing the state’s $68-billion bullet train, saying that “they’re going to join the chorus” in support of high-speed rail once construction around Fresno and Bakersfield gains momentum.

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LATimes: First-time home buying hits lowest level in nearly three decades

Home for sale

A home for sale in Huntington Beach in May. Just one-third of homes bought this year went to first-time buyers, the lowest rate since 1987. (Bryan Chan / Los Angeles Times)

Tim Logan
November 3, 2014

First-time home buyers aren’t buying homes like they used to.

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LATimes: Different pension rulings expected in Stockton, Detroit bankruptcies

Pension-Fund

By Marc Lifsher
November 2, 2014

Stockton employees and retirees avoided pension cuts when a federal judge last week approved the San Joaquin Valley city’s plan to emerge from bankruptcy.

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San Bernardino Seal

By Ed Mendel
Monday, November 3, 2014

The city charter has forced San Bernardino to give police two pay raises since declaring bankruptcy, one costing $1 million and the other $1.3 million. Now voters are being asked Tuesday to change the charter and prevent a third automatic pay raise.

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SacBee: Opinion: Controller John Chiang drops bombshell on California public pensions

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/01/2014 5:00 PM

State Controller John Chiang dropped a political bomb the other day, although he was so quiet about it, one could say it was a stealth bomb.

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SacBee: Judge approves Stockton’s plan to repay creditors, leaving pensions intact

Gavel

By Dale Kasler
dkasler@sacbee.com
10/30/2014 9:20 PM

Government pensions in California remain untouchable, at least for now, after a bankruptcy judge approved Stockton’s plan to repay its creditors Thursday without reducing the city’s pension obligations.

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Economy

Consumer spending, which accounts for about two-thirds of U.S. economic activity, increased at a modest annual rate of 1.8% in the third quarter.

By Don Lee
October 30, 2014

The U.S. economy is showing steady, solid growth despite the shaky global environment, but its resilience will be tested in the coming months.

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