Archive for the ‘ Finance ’ Category

The PE: RIVERSIDE COUNTY: Angry officials see politics in governor’s veto

Veto

A veto is the latest setback in the effort to restore millions in lost vehicle-license fees to new cities; an override of the veto seem unlikely.

Published: Sept. 29, 2014 Updated: 10:37 p.m.

Gov. Jerry Brown’s veto of a bill to restore up to $19 million to four fledgling Riverside County cities has some Inland officials questioning if politics played a role in the decision that could lead Jurupa Valley to dissolve.

To read story by Jeff Horseman, Sandra Stokley and Michael J. Williams in The Press-Enterprise, click here.

Home for sale

Pending home sales slowed a bit in August, a real estate trade group reported Monday. (Bryan Chan / Los Angeles Times)

By Tim Logan
September 29, 2014

The number of people who signed contracts to buy homes in August dipped slightly, though it remains near its highest level in a year.

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The PE: SACRAMENTO: Governor vetoes bill to restore new cities’ funding

Veto

Eastvale, Menifee, Wildomar and especially Jurupa Valley have struggled since vehicle license fee revenue was diverted in 2011

Published: Sept. 28, 2014 Updated: 11:44 p.m.

Jurupa Valley’s hopes of getting a budget boost from the state were dashed Sunday when Gov. Jerry Brown vetoed a bill that would have restored funding diverted in 2011 from the state’s four newest cities, all of which are in Riverside County.

To read story by Nikie Johnson in The Press-Enterprise, click here.

SacBee: California harvest much smaller than normal across crops

By Dale Kasler
dkasler@sacbee.com
Published: Sunday, Sep. 28, 2014 – 12:00 am

It’s harvest time in much of California, and the signs of drought are almost as abundant as the fruits and nuts and vegetables.

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SacBee: Jerry Brown mum on tax pledge

Jerry Brown

By David Siders
dsiders@sacbee.com
Published: Friday, Sep. 26, 2014 – 4:26 pm
Last Modified: Friday, Sep. 26, 2014 – 5:04 pm

Gov. Jerry Brown declined to say Friday if he will maintain the pledge he made in 2010 not to raise taxes without a public vote if – as is widely expected – he wins re-election in November.

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GDP

The second-quarter economic rebound was stronger than initially thought at 4.6% annual rate.

By Jim Puzzanghera contact the reporter

The U.S. economy grew at a 4.6% annual rate this spring, rebounding more strongly than initially estimated from a weather-related winter contraction, the Commerce Department said Friday.

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The Sun: San Bernardino city finance head David Cain resigns

Resignation

By Ryan Hagen, The Sun
Posted: 09/25/14, 6:38 PM PDT |

SAN BERNARDINO >> Thursday was the last day at City Hall for David Cain, the man responsible for the city’s finances and administrative services.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Sep. 25, 2014 – 10:50 pm
Last Modified: Thursday, Sep. 25, 2014 – 11:14 pm

When California taxpayers voted two years ago to sharply – albeit, temporarily – raise income taxes on the state’s highest-income residents, they touched off a debate over whether it would spur the rich to flee to low- or no-tax locales, such as neighboring Nevada.

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The Sun: Bear Mountain, Snow Summit ski resorts bought by Mammoth Mountain company

Big Bear Ski Resorts

Mammoth Mountain Ski Area, owner of Mammoth Mountain and June Mountain, announced today that it has entered into an agreement to acquire Big Bear Mountain Resorts in Big Bear Lake, California. Big Bear Mountain Resorts includes both Bear Mountain, pictured here, and Snow Summit, the largest and most popular of southern California’s ski and snowboard resorts that host nearly 800,000 winter visits annually. (Staff file photo)

By Ryan Hagen, The Sun
Posted: 09/24/14, 11:23 AM PDT | Updated: 51 secs ago

BIG BEAR LAKE >> In what will make it part of one of the nation’s largest ski companies with more than 2 million visitors per year, Bear Mountain and Snow Summit have been bought by Mammoth Mountain Ski Area, the northern California-based company announced Wednesday.

Read the rest of this entry »

Apple Inc.

Associated Press
Sept. 25, 2014 | 1:31 a.m. EDT
By BRANDON BAILEY, AP Technology Writer

SAN FRANCISCO (AP) — Apple’s new iPhones have run into some glitches as users complained that a new software update blocked their calls, while a widely circulated video showed the larger of the two new models is vulnerable to bending.

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CPR: California Property Taxes Could Skyrocket

taxes

Katie Orr
Monday, September 22, 2014 | Sacramento, CA |

Proposition 13 regulates property tax values in California by limiting increases to 2 percent annually. But homeowners could see larger increases this year thanks to another, lesser-known proposition.

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SacBee: California GOP endorses water bond, rainy-day fund

By Christopher Cadelago
ccadelago@sacbee.com
Published: Sunday, Sep. 21, 2014 – 10:30 am

LOS ANGELES — California Republicans have given their blessing to a pair of measures on the Nov. 4 ballot heavily favored by Democratic Gov. Jerry Brown and legislative Democrats.

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By Ed Mendel
September 22, 2014

Three years ago CalPERS investment earnings hit bottom in a Wilshire consultants report that ranks the performance of big pension funds — dead last among its peers over the previous five years.

Read the rest of this entry »

The PE: RIVERSIDE COUNTY: Supervisor wants more details on lawsuit costs

Riverside-County-Seal

Published: Sept. 20, 2014 Updated: 4:52 p.m.

Riverside County Supervisor Kevin Jeffries wants county department budgets to more clearly reflect the cost of lawsuits stemming from their actions.

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

San Bernardino

Downtown San Bernardino. (File Photo)

By Ryan Hagen, The Sun
Posted: 09/20/14, 8:57 PM PDT | Updated: 58 secs ago

Hearings have begun on Detroit’s plan to exit bankruptcy, slightly more than a year after the distressed Motor City filed for bankruptcy — and at least six months before San Bernardino, which filed for bankruptcy a year before Detroit, expects to even come up with a plan.

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Goodman Birtcher Logistics Center

An artist’s rendering of the Goodman Birtcher logistics center planned in Fontana. (Courtesy of Goodman Birtcher)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 09/20/14, 6:32 PM PDT |

Two new large warehouse distribution centers are planned for Fontana and Eastvale that would bring thousands of new jobs to the Inland Empire.

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LATimes: California adds 44,200 jobs in August

Jobs

California jobs
By Tiffany Hsu and Chris Kirkham
September 19, 2014

California outpaced its recent job growth as employers added 44,200 nonfarm positions in August — far more than any other state.

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SacBee: CalPERS gets $88 million in Citi settlement

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Sep. 18, 2014 – 4:44 pm

CalPERS said Thursday it has collected $88 million from a previously-announced settlement with Citigroup Inc. over toxic mortgage securities.

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The PE: ECONOMY: Inland Empire incomes rising, poverty falling

California Poverty

Census numbers for the Inland area indicate the economy is inching toward rebirth. But they also indicate that our employment picture needs a lot more work.

BY DAVID OLSON / STAFF WRITER
Published: Sept. 17, 2014 Updated: 10:56 p.m.

In another sign that the Inland region is slowly emerging from years of economic decline, area residents’ incomes finally rose in 2013, and the poverty rate began to fall, according to U.S. Census Bureau estimates released late Wednesday.

To read story by David Olson in The Press-Enterprise, click here.

calpers

Ted Eliopoulos is named chief investment officer of the California Public Employees’ Retirement System, the nation’s largest public pension fund.

By Marc Lifsher
September 16, 2014

California’s huge pension fund has turned to a trusted insider to take over the daunting job of directing almost $300 billion in investments, crucial to the retirement of more than 1 million current and former state and local government workers.

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The Hill: House approves $1T spending bill

The Hill

By Rebecca Shabad – 09/17/14 05:35 PM EDT

The House on Wednesday approved a $1 trillion stopgap-spending bill to keep the government funded through December 11.

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LATimes: CalPERS decides hedge funds are a sell

Photo: CalPERS board

The CalPERS board meets at headquarters in Sacramento. (Robert Durell / For The Times)

By Marc Lifsher
September 15, 2104

SACRAMENTO — The country’s biggest public pension system is getting out of hedge funds.

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SacBee: CalPERS cleared to sue ratings agencies

California Supreme Court

By Dale Kasler
dkasler@sacbee.com
Published: Monday, Sep. 15, 2014 – 3:56 pm

The state Supreme Court has cleared CalPERS to sue Wall Street’s leading ratings agencies over a series of disastrous investments that cost the pension fund more than $1 billion.

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Home Construction

A new report from Beacon Economics and City National Bank points to a comeback in the Inland Empire. Above, homes being built in Rancho Cucamonga. (Gina Ferazzi / Los Angeles Times)

Economic comeback in the Inland Empire helps drive California recovery, report says
September 15, 2014

The economic recovery in California struggled through the first half of the year but now is picking up speed, driven by improvements in the real estate and the job markets, according to a quarterly report from Beacon Economics and City National Bank.

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SacBee (AP): S&P: California recovers growth with tax increases

Standard and Poor's

By JUDY LIN
Associated Press
Published: Sunday, Sep. 14, 2014 – 9:01 pm

SACRAMENTO, Calif. — Rising income inequality has led to slowing tax revenue growth in California, but the state has responded by increasing its top marginal tax rate, causing its growth rate to accelerate after 2009, according to a new study released Monday by credit rating agency Standard & Poor’s.

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SacBee: Dan Walters: Taxes on rich closed the state budget deficit

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Saturday, Sep. 13, 2014 – 9:18 pm
Last Modified: Saturday, Sep. 13, 2014 – 9:33 pm

As Jerry Brown seeks his fourth term as governor this year, he’s crowing about balancing the state budget after years of deficits that piled up a “wall of debt.”

Certainly Brown deserves some of the credit.

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LATimes: Owner of L.A. Daily News and other local newspapers exploring sale

For Sale

By Andrew Khouri
September 12, 2014

Digital First Media, the owner of the Los Angeles Daily News and other newspapers across the country, said it will explore the sale of its publications.

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For Sale

Housing price reductions are rising in the Southland

By Tim Logan, Andrew Khouri

The latest sign that buyers are gaining leverage in Southern California’s housing market: Price cuts are back.

Read the rest of this entry »

Reuters: Bankrupt San Bernardino, California, can cut firefighter benefits, judge says

San Bernardino Seal

By Tim Reid
RIVERSIDE Calif. Thu Sep 11, 2014 7:51pm EDT

(Reuters) – The city of San Bernardino, California, may impose cuts to its firefighters overtime and pension benefits in a bid to reach a bankruptcy exit plan, the federal judge overseeing the case said on Thursday.

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Yucaipa City_Logo

By Sandra Emerson, Redlands Daily Facts
Posted: 09/11/14, 4:41 PM PDT |

YUCAIPA >> The city has reached an agreement with its managers and supervisors.

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By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 09/11/14, 8:53 PM PDT |

The volume of goods coming in and out of the ports of Long Beach and Los Angeles over the next 20 years is expected to double and fuel expansion of the logistics sector in the Inland Empire, according to regional economy advocates.

Read the rest of this entry »

For Sale

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 09/11/14, 11:32 AM PDT | Updated: 9 hrs ago

Southern California’s housing market chilled out in August with sales sinking to a four-year low for the month while the median price rose to a post-recession high, CoreLogic DataQuick reported Thursday.

Read the rest of this entry »

InlandPolitics: San Bernardino County pension fund underperforms

SBCO Seal

Thursday, September 11, 2014 – 09:45 a.m.

The pension fund for San Bernardino County employees exceeded its assumed rate of return of 7.75% for the 2013-14 fiscal year, but that’s about it.

Read the rest of this entry »

Riverside-County-Seal

BY JEFF HORSEMAN / STAFF WRITER
Published: Sept. 9, 2014 Updated: Sept. 10, 2014 11:18 a.m.

After several years of deficits and financial struggles, Riverside County Regional Medical Center should have a balanced budget this fiscal year, the county-run hospital’s interim CEO said Tuesday.

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

UCLA Anderson_logo

The U.S. economy will be marginally stronger in 2016, according to the UCLA Anderson Forecast. Real gross domestic product is expected to swing up 3.1% next year and 3.4% in 2016.

By Tiffany Hsu
September 11, 2014

California’s “painfully plodding” economic recovery will continue its slow march through 2016, according to the quarterly UCLA Anderson Forecast.

Read the rest of this entry »

LATimes: Pension ‘spiking’ to cost CalPERS nearly $800 million, controller says

calpers

By Marc Lifsher
September 9, 2014

Taxpayers and local governments are on the hook to pay nearly $800 million stemming from “legal” pension spiking over the next two decades, the state controller said Tuesday.

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Politico: House GOP offers stopgap funding

Politico

By DAVID ROGERS | 9/9/14 8:38 PM EDT Updated: 9/9/14 9:12 PM EDT

House Republicans rolled out a stopgap spending bill to keep the government funded through Dec. 11 but also reshaping the budget landscape in a manner that tilts toward the GOP if it should win control of the Senate in November.

Read the rest of this entry »

DailyBulletin: Survey predicts tough job market, lower wages

Economy

By Kevin Smith, San Gabriel Valley Tribune
Posted: 09/08/14, 6:31 PM PDT | Updated: 1 min ago

Looking for full-time work?

Good luck, because a new survey from Harvard Business School reveals that U.S. business leaders are reluctant to hire full-time employees and would rather invest in technology, outsource work to third parties or hire part-time workers.

Read the rest of this entry »

Harvard Business

BOSTON — Monday Sep 8, 2014 – 4:12pm EDT

(Reuters) – The widening gap between America’s wealthiest and its middle and lower classes is “unsustainable”, but is unlikely to improve any time soon, according to a Harvard Business School study released on Monday.

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Calpensions: CalSTRS debt report drops from $167B to $59.5B

Calstrs

By Ed Mendel
Monday, September 8, 2014

CalSTRS was bracing to report the nation’s biggest pension debt under new government accounting rules that take effect this fiscal year — $167 billion, an amount so huge some thought it might increase the cost of issuing local school bonds.

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InlandPolitics: A few takes, questions from California Governor debate

Jerry Brown

Brown

Saturday, September 6, 2014 – 11:00 a.m.

The debate between California Governor Jerry Brown and republican Neel Kashkari, held Thursday night, was somewhat entertaining.

Brown, in his elderly style, routinely patted Kashkari on the head, while Kashkari kept raising Brown’s blood pressure, by poking at him on issues.

Read the rest of this entry »

Jobs

September 5, 2014 – 3:37 PM
By CHRISTOPHER S. RUGABER, Associated Press

WASHINGTON (AP) — A surprising drop in hiring and in the number of people seeking work in August sent a reminder that the U.S. economic recovery is still prone to temporary slowdowns.

Read the rest of this entry »

Labor Force Participation - August 2014

September 5, 2014 – 9:07 AM
By Ali Meyer

(CNSNews.com) – A record 92,269,000 Americans 16 and older did not participate in the labor force in August, as the labor force participation rate matched a 36-year low of 62.8 percent, according to the Bureau of Labor Statistics.

Read the rest of this entry »

San Onofre

The San Onofre nuclear power plant near San Clemente closed permanently in June 2013, a year and a half after defective steam generators costing $680 million leaked small amounts of radiation. (Allen J. Schaben, Los Angeles Times)

By Marc Lifsher
September 5, 2014

An agreement on paying for the closure of the San Onofre nuclear power plant near San Clemente needs to be more favorable to consumers, state regulators said Friday.

Read the rest of this entry »

Bloomberg/Businessweek: Megadroughts Worse Than the Dust Bowl Could Hit the Southwest

Bloomberg-Businessweek

By Karen Weise
September 04, 2014

The drought in California has already devastated the environment and upended the state’s economy. Imagine if it were to last for a decade. Or four decades. Or longer. So-called megadroughts are increasingly likely as the earth warms, according to a new scientific paper that paired historic drought patterns with climate change models.

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LATimes: California trails Texas in exports and related jobs, report finds

Texas Flag + California Flag

By Tiffany Hsu
September 4, 2014

California is home to the busiest port complex in the country and the largest manufacturing center, but where exports are concerned, it’s neither the heaviest mover nor the top employer.

Read the rest of this entry »

By Kate Linthicum
September 4, 2014

A report released Wednesday by researchers at USC found that immigrants who are in California illegally make up nearly 10% of the state’s workforce and contribute $130 billion annually to its gross domestic product.

Read the rest of this entry »

AP: Bullet-train foes seek state Supreme Court review

High-Speed Rail

AP California News
Sep 2, 7:45 PM EDT
By JULIET WILLIAMS
Associated Press

SACRAMENTO, Calif. (AP) — Opponents of California’s $68 billion high-speed rail project submitted an appeal Tuesday to the state Supreme Court, asking it to overturn a lower court’s ruling that allowed the project to proceed despite questions about whether it complies with promises made to voters.

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PIMCO

By E. Scott Reckard
September 2, 2014

William J. Popejoy apparently has lost his longtime position as a trustee of the nearly $2-trillion Pimco mutual funds in Newport Beach, but the usually outspoken financial executive wasn’t talking about what happened.

Read the rest of this entry »

The PE: COURTS: Budgets still lean for Inland counties

scales-of-justice

Published: Sept. 1, 2014 Updated: 10:11 p.m.

Budgets for Inland superior courts increased from the previous fiscal year by about $6 million for each system, allowing for small improvements – but services and most courtrooms shuttered by recession-era budget cuts will remain closed.

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

calpers

By Ed Mendel
Monday, September 2, 2014

A small but affluent Orange County city, with a current staff of only a half dozen employees, would have to pay about $3.6 million to leave CalPERS, the giant state pension system estimated two years ago.

Read the rest of this entry »

SacBee: Dan Walters: ‘California Comeback’ hasn’t helped everyone

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Sep. 1, 2014 – 12:00 am
Last Modified: Monday, Sep. 1, 2014 – 9:57 am

As Gov. Jerry Brown runs for re-election, he has adopted “California Comeback” – voiced during his State of the State address in January – as his informal slogan.

Read the rest of this entry »

Hmmm

By Kenneth R. Harney
August 31, 2014

WASHINGTON — If you’ve got it, tap it. That appears to be the strategy for growing numbers of homeowners across the country who have begun taking out home equity credit lines at a rapidly accelerating pace.

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LATimes: Slow wage growth threatens California economic recovery, report finds

California Money

By Chris Kirkham
August 30, 2014

California’s economic recovery has featured a growing share of lower-wage jobs, raising concerns about the opportunities for middle-class workers hit hard by the Great Recession, a new analysis finds.

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The Atlantic: California High-Speed Rail—More Questions and Concerns

High-Speed Rail

The Atlantic

“Bad, bad, bad,” and other critiques
James Fallows
Aug 24 2014, 11:30 PM ET

If David Letterman can put out a Top Ten list night after night for decades, we can certainly make it all the way to 10 in our chronicles of the California High-Speed Rail debates. As a reminder, this is No. 8 in a series on the most ambitious and consequential infrastructure project now under consideration in our infrastructure-degraded land. It is the plan for a north-south California High-Speed Rail system, which had its genesis before Jerry Brown’s second coming as California’s governor but is now his signature project as he runs for reelection to an unprecedented fourth term. For previous installments see No. 1, No. 2, No. 3, No. 4, No. 5, No. 6, and No. 7.

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Calpensions: Image-sensitive CalPERS has down week in media

calpers

By Ed Mendel
August 25, 2014

Last week was not a good one for CalPERS, which carefully tracks mentions of the giant pension system in the media and gives each story a rating of positive, neutral or negative.

Read the rest of this entry »

Jerry Brown+Rick Perry

California Gov. Jerry Brown, left, recently launched the California Competes incentive program. Texas Gov. Rick Perry, right, has touted the Texas Enterprise Fund as a “job-creation machine.” (Rich Pedroncelli / Associated Press and Mengwen Cao / Associated Press)

By Chris Kirkham
August 24, 2014

When California rolled out a $750-million plan this year to attract and retain businesses, many aspects mirrored longtime perks used by Texas — where officials love nothing more than stealing jobs from the Golden State.

Read the rest of this entry »

SacBee: CalPERS seeks safer path but can’t eliminate investment risk

CalPERS

By Dale Kasler
dkasler@sacbee.com
Published: Saturday, Aug. 23, 2014 – 12:00 am

CalPERS, still feeling the effects of the 2008 financial markets crash, is working to dial back the risk in its investment portfolio.

Read the rest of this entry »

Money

Published: Aug. 21, 2014 – Updated: 1:22 p.m.

California’s Senate on Thursday passed legislation that would restore vehicle license fee revenue to four fledgling cities in Riverside County.

To read post by Jeff Horseman in the P-E Political Empire Blog, click here.

Upland: Poll: Upland residents won’t support tax increase

Upland seal

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 08/21/14, 9:02 PM PDT |

UPLAND >> Residents would not support tax measures on the November ballot, according to a recent city poll.

Read the rest of this entry »

Bank of America

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Aug. 21, 2014 – 8:29 am
Last Modified: Friday, Aug. 22, 2014 – 7:55 am

California homeowners and pension funds will receive $800 million from Bank of America Corp., the state’s share of a record-breaking settlement over toxic mortgages issued and packaged as investment securities during the housing bubble.

Read the rest of this entry »

The Sun: San Bernardino taking on more of its waste-collection services

San Bernardino Seal

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 08/19/14, 10:44 PM PDT | Updated: 11 hrs ago

SAN BERNARDINO >> The city is expected to expand its waste-hauling service and gain new revenue with the expiration of franchise agreements for two long-standing companies working here.

Read the rest of this entry »

calpers

By Jon Ortiz
jortiz@sacbee.com
Published: Wednesday, Aug. 20, 2014 – 11:10 am

A divided CalPERS board approved a regulation Wednesday that will allow nearly 100 different types of supplemental pay to count toward pension calculations for state and local government employees.

Read the rest of this entry »

Up Arrow

Prices have grown much faster than incomes in the last few years, a Zillow research director said. That’s pushing L.A. housing out of reach for many.

By Tim Logan
August 20, 2014

Los Angeles and Orange counties are the least-affordable housing market in the country. And it’s likely to only get worse.

Read the rest of this entry »

calpers

By Jon Ortiz
jortiz@sacbee.com
Published: Tuesday, Aug. 19, 2014 – 12:00 am

More than a year after Gov. Jerry Brown signed a law he said would tamp down pension spiking, the state’s biggest public pension fund is on the verge of adopting rules critics say would undermine its intent.

Read the rest of this entry »

VVDailyPress: Study: JPA a complicated undertaking

Calculator

Many questions unanswered as cities seek to save money

ANNELI FOGT
STAFF WRITER
Posted Aug. 17, 2014 @ 11:09 am
Updated Aug 17, 2014 at 11:29 AM

APPLE VALLEY — Council members from Adelanto, Apple Valley, Hesperia and Victorville still had several questions this week after they were presented with the findings of a feasibility study for the creation of a joint powers authority to manage the Victor Valley’s police and fire services.

Read the rest of this entry »

California Money

By Marc Lifsher
August 17, 2014

California is one of the most expensive states for businesses to operate, mainly because of high pay and related labor costs, says a new report commissioned by an arm of the state Chamber of Commerce.

Read the rest of this entry »

Dan Morain

By Dan Morain
dmorain@sacbee.com
Published: Sunday, Aug. 17, 2014 – 12:00 am

In a Capitol where contentious lobbying battles are de rigueur, the $14 billion hedge fund that goes by the name Pershing Square Capital Management has picked a most unusual fight.

Read the rest of this entry »

The Sun: Despite slight unemployment rate rise, Inland Empire jobs growing

unemployment

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 08/15/14, 8:55 PM PDT |

The Inland Empire unemployment rate rose slightly to 9.2 percent in July, the California Employment Development Department reported Friday.

Read the rest of this entry »

unemployment

By Chris Kirkham
August 15, 2014

California added more than 27,000 jobs in July, but the state unemployment rate remained flat at 7.4% as the size of the labor force shrank slightly from last month’s estimates.

Read the rest of this entry »

Prime Healthcare Services

By Chad Garland
August 15, 2014

Prime Healthcare Services Inc., a hospital chain that has come under fire for billing and patient privacy issues, is facing opposition over its potential acquisition of six California hospitals, including two medical centers in Los Angeles County.

Read the rest of this entry »

The Sun: San Bernardino, police union reach contract deal

San Bernardino Seal

By Jim Steinberg, The Sun
Posted: 08/14/14, 8:29 PM PDT | Updated: 49 secs ago

SAN BERNARDINO >> The city and the San Bernardino Police Officers Association announced to U.S. Bankruptcy Judge Meredith Jury that they have reached a tentative long-term agreement, officials said.

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Home for sale

A for-sale home in the 3200 block of Hacienda Drive in Duarte is shown here. Southern California home sales hit a three-year low for the month of July, hampered by rising prices, a limited supply of homes and a decrease in investor activity. (Photo by Watchara Phomicinda/ San Gabriel Valley Tribune)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 08/14/14, 8:18 PM PDT |

Southern California home sales hit a three-year low for the month of July and the region’s median home price dipped to $413,000, industry tracker CoreLogic DataQuick reported Wednesday.

Read the rest of this entry »

interest_rates

By E. Scott Reckard
August 14, 2014

The cost of getting a home loan has slipped back to the lowest level of the year, with Freddie Mac pegging the average rate for a 30-year fixed mortgage early this week at 4.12% compared to last week’s 4.14%.

Read the rest of this entry »

Warren Buffett

Warren Buffett’s Berkshire Hathaway is trading above $200,000 for the first time.

By Andrew Khouri
August 14, 2014

Shares of billionaire Warren Buffett’s Berkshire Hathaway traded above $200,000 for the first time — nearly eight years after topping the $100,000 mark.

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InlandPolitics: Sterling appeal denied

Gavel

Thursday, August 14, 2014 – 09:00 a.m.

For our readers who happen to be Clipper fans.

The California Second District Court of Appeal has put a fork in Donald Sterlings last minute attempt to reverse the sale of his former team.

Read the rest of this entry »

SacBee: Water bond headed to voters

water-dam

By Jeremy B. White
jwhite@sacbee.com
Published: Wednesday, Aug. 13, 2014 – 9:40 pm
Last Modified: Thursday, Aug. 14, 2014 – 12:15 am

California voters will be asked to authorize $7.5 billion to bolster the state’s water supply, infrastructure and ecosystems in November, as lawmakers and Gov. Jerry Brown on Wednesday struck a long-sought deal to move a new water bond to the ballot.

Read the rest of this entry »

LATimes: Southern California home sales plunge in July

down-arrow

By Andrew Khouri
August 13, 2014

Southern California home sales plunged in July and show little signs of rebounding. And that, economists say, could stunt the region’s economic growth.

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SacBee: Dan Walters: New water bond may be close, but it’s not fully cooked yet

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Tuesday, Aug. 12, 2014 – 10:27 pm
Last Modified: Tuesday, Aug. 12, 2014 – 11:30 pm

Chances are that sometime Wednesday the Legislature will place a new water bond issue on the Nov. 4 ballot.

Read the rest of this entry »

Los Angeles Clippers

The $2-billion sale of the Los Angeles Clippers to former Microsoft CEO Steve Ballmer was finalized Tuesday.

By Ben Bolch, Nathan Fenno and Melissa Rohlin
August 12, 2014

The NBA announced that Steve Ballmer’s $2-billion purchase of the Clippers had closed on Tuesday, making the former Microsoft CEO the undisputed owner of the team.

Read the rest of this entry »

LA County Seal

Los Angeles County’s five supervisors took a step Tuesday — over the objections of labor groups — toward approving a new set of rules that would require a four-fifths vote for any salary or benefit increases in union contracts.

By Abby Sewell
August 12, 2014

Read the rest of this entry »

By Rick Orlov, Los Angeles Daily News
Posted: 08/12/14, 6:31 PM PDT |

The city reached a tentative agreement Tuesday with the Los Angeles Police Protective League over a portion of its new proposed contract that deals with the 1,000 officers hired over the past three years who were paid less than their counterparts.

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InlandPolitics: San Bernardino unions waste little time

Police - Fire Logo

Tuesday, August 12, 2014 – 05:30 p.m.

Last week the San Bernardino, California City Council, on a split 4-3 vote, agreed to place a charter reform measure on the November ballot. A measure aimed directly at its public safety employees.

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San Bernardino Seal

By Jim Steinberg, The Sun
Posted: 08/11/14, 7:57 PM PDT | Updated: 53 secs ago

Top San Bernardino city officials and some of the city’s creditors met with a court-appointed federal mediator in Reno, Nev., all day Monday with discussions continuing into the evening.

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Jobs

By Chris Kirkham
August 11, 2014

The U.S. economy earlier this year recovered all the jobs lost during the recession, but those new jobs pay an average of 23% less than the ones lost in the downturn, according to an analysis released Monday by the U.S. Conference of Mayors.

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