Archive for the ‘ Finance ’ Category

Refinery

Flyers were placed on nearly every door within a mile radius of the ExxonMobil refinery notifying residents of the impending restart of the facility. Thursday, May 5, 2016, Torrance, CA. (Steve McCrank/Staff Photographer)

By Nick Green, Daily Breeze
Posted: 05/05/16 – 8:40 PM PDT |

The February 2015 explosion that shuttered the ExxonMobil plant in Torrance was the costliest disruption at a California refinery in the past 16 years, with motorists paying at least $2.4 billion in higher pump prices in the following six months, according to a recent RAND study.

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Victorville

Officials meet in workshop to comb through nearly complete FY 17 spending plan

By Shea Johnson
Staff Writer
Posted:     May 4, 2016 at 3:28 PM
Updated: May 4, 2016 at 5:53 PM

VICTORVILLE — City officials met in a pre-budget workshop this week, broaching the upcoming fiscal year 2016-17 spending plan, where a little more than $1 million still needs to be trimmed to reach balance.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
May 2, 2016 – 3:01 PM

  • State has huge backlog of unmet housing needs
  • Demand-supply housing gap is widening
  • Poor hit hardest by rising housing costs

Three dry statistical reports issued simultaneously Monday reveal the stark dimensions of California’s deepening housing crisis.

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InlandPolitics: Time for SBCERA to lower projected returns

SBCERA

Monday, May 2 , 2016 – 12:00 p.m.

It’s time for the San Bernardino County Employees Retirement Association (SBCERA) to face reality regarding what it will make on investments in the future.

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The Wall Street Journal: U.S. Growth Starts Year in Familiar Rut

GDP

Global headwinds, weak business spending could continue to weigh on GDP in coming quarters

By Jeffrey Sparshott
Updated: April 28, 2016 – 6:39 p.m. ET

A sharp pullback in business investment and weak global demand dragged down an already-lackluster U.S. economy in the opening months of 2016, the latest setback in a bumpy expansion entering its seventh year.

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Apple Inc.

Apple shares have been reeling this week after disappointing earnings results. (Matthias Schrader / Associated Press)

Paresh Dave
April 28, 2016

Billionaire business magnate Carl Icahn, whose investment decisions can influence the stock market, said Thursday that he dumped what was left of his nearly 1% stake in Apple Inc. on fears that Chinese authorities would bully the iPhone maker.

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Jerry Brown

California Gov. Jerry Brown speaks at a gathering of political, business and community leaders at the annual California Chamber of Commerce Host Breakfast in May 2015. Brown will release his revised budget proposal next month. (Rich Pedroncelli AP)

Capitol Alert
By Jim Miller
jmiller@sacbee.com
April 27, 2016 – 2:29 PM

  • Two-fifths of taxpayers saw gains in average real income from 1995 to 2014, new data show
  • That is an improvement over 1994-2013 span, when only top-fifth had real growth
  • Average income of top 1 percent almost doubled over past 20 years

The wealthiest Californians paid nearly half of the state’s income taxes in 2014 after seeing an uptick in their average income from 2013, according to updated income distribution data compiled by the state Franchise Tax Board.

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Los Angeles Times: Apple’s quarterly sales fall for the first time in 13 years

Apple Inc.

By Paresh Dave
April 26, 2016

Apple Inc. forewarned investors of its first-ever drop in iPhone sales and its first decline in quarterly revenue in 13 years.

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NYSE - Gannett Station

A specialist works at the post that handles Gannett on the floor of the New York Stock Exchange on Aug. 5, 2014. (Richard Drew / Associated Press)

Times staff and wire reports
April 25, 2016

USA Today publisher Gannett Co. is making an aggressive push to buy the owner of the Los Angeles Times, a move that would bolster Gannett’s position as the nation’s largest newspaper company and continue the consolidation in the industry.

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The Sacramento Bee: California scores lowest on Moody’s fiscal ‘stress test’

Jerry Brown

Gov. Jerry Brown carries notebook paper after unveiling his proposed 2016-17 state budget at the Capitol on Jan. 7. Brown warned that the state is overdue for a recession and needs to build reserves to cushion the effects of an economic downturn. (Renée C. Byer – rbyer@sacbee.com)

Capitol Alert
By Dan Walters
dwalters@sacbee.com
April 22, 2016 – 2:51 PM

  • Texas shines in ability to absorb a recession
  • California and Illinois at the bottom

California, whose state budget is highly dependent on volatile income taxes, is the least able big state to withstand a recession, according to a “stress test” conducted by Moody’s Investor Service.

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Daily Press: Hesperia approves resolution to unfreeze wages for city employees

hesperia_logo

By Rene Ray De La Cruz
Staff Writer
Follow @@DP_ReneDeLaCruz

Posted Apr. 21, 2016 at 10:55 AM
Updated Apr 21, 2016 at 4:53 PM

HESPERIA — The City Council approved a resolution that paves the way to unfreeze wages for union and nonunion city employees.

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PPIC

Capitol Alert
By Dan Walters
dwalters@sacbee.com
April 20, 2016 – 2:00 PM

  • Surtax on high-income Californians, school bonds headed for November ballot
  • Unions support tax extension, education groups and developers want bonds
  • Gov. Jerry Brown has not endorsed either, critical of bond issue

California voters are inclined to extend extra taxes on the state’s high-income residents to support public education and pass a new school construction bond issue, a poll by the Public Policy Institute of California has found.

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calpers

Pension fund says rate hike smaller than expected

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
April 20, 2016 – 5:18 PM

CalPERS approved another round of rate increases Thursday, requiring higher contributions from state agencies and school districts for the 2016-17 fiscal year.

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Harriet Tubman

By Ben White and Nolan D. McCaskill
Published: 04/20/16 – 11:56 AM EDT
Updated: 04/20/16 – 08:05 PM EDT

  • Treasury Secretary Jack Lew reverses a plan to bump Hamilton after receiving fierce blowback.

Harriet Tubman will bump Andrew Jackson from the front of the $20 bill while Alexander Hamilton will stay put on the $10 — a historic move that gives a woman prime placement on U.S. currency and quells a controversy kicked up by Hamilton super-fans.

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The Sun: Millions of square feet of warehouse space created Inland, more to come

An aerial view of warehouses in Riverside County.

By Fielding Buck, The Press-Enterprise
Posted: 04/19/16 – 11:06 PM PDT |

Warehouses totaling more than 6 million square feet of space were completed in the Inland region in the first quarter of 2016, and nearly 16 million square feet are under construction.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
April 19, 2016 – 2:04 PM

  • State has pursued inventor Gilbert Hyatt for a quarter-century
  • Nevada courts said California had harassed Hyatt
  • U.S. Supreme Court upholds Nevada’s spanking of California

There is a perpetual debate in California political circles over whether the state’s highest-in-the-nation income tax rates encourage the wealthy to take themselves and their money elsewhere.

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High Speed Rail

A full-scale mock-up of a high-speed train is displayed at the Capitol in Sacramento last year. (Rich Pedroncelli / Associated Press)

Ralph Vartabedian
April 18, 2016

A key state legislative committee on Monday unanimously approved a Republican-led bill to strengthen oversight of the California bullet train, a sign of growing bipartisan concern about the project.

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Home for sale

Andrew Khouri
April 18, 2016

Southern California home prices jumped 5.6% in March, as buyers fought over a meager supply of homes for sale and bid up values.

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The Press-Enterprise: RIVERSIDE COUNTY: Millions spent on outside consultants

Riverside-County-Seal

As Riverside County faces budget crunch, some wonder why pricey specialists are needed to cut spending.

Published: April 15, 2016
Updated:   April 17, 2016 – 2:25 a.m.

Riverside County’s budget shortfall next fiscal year could approach $100 million. But it still found $44 million to spend on outside consultants.

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

American Apparel

American Apparel headquarters and manufacturing building located on Alameda Street and 7th street in Los Angeles where the clothier that was once a fashion trailblazer has taken drastic steps to stave off financial ruin. (Al Seib / Los Angeles Times)

Shan Li and Natalie Kitroeff
April 15, 2016

Los Angeles was once the epicenter of apparel manufacturing, attracting buyers from across the world to its clothing factories, sample rooms and design studios.

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Jobs

Natalie Kitroeff
April 15, 2016

California added 4,200 jobs in March, the Employment Development Department reported Friday.

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The Sacramento Bee: Field Poll: California voters think income taxes are too high

taxifornia

Capitol Alert
By Taryn Luna
tluna@sacbee.com
April 14, 2016 – 1:00 PM

  • Four out of five Republicans believe they pay too much income tax
  • Fifty-two percent of Democrats are OK with current tax rates
  • People who earn less than $40,000 were least likely to complain about high taxes

With the 2016 tax deadline on the horizon, it’s the time of year Californians grumble about Uncle Sam slashing their income.

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Municipal Bonds

Published: April 13, 2016 – 8:09 a.m.

Puerto Rico, Atlantic City and Chicago school district bondholders have reason to fear a fight in court if the ailing governments collapse financially: recent cases show that when municipalities go broke, investors lose when pitted against municipal retirees.

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

SBCO

County Supervisors up legal services contract by $400K

By Shea Johnson
Staff Writer
Follow @@DP_Shea
Posted Apr. 12, 2016 at 4:25 PM

SAN BERNARDINO — Attorney fees could rise above $1 million in the county’s lawsuit against the architectural and design firms of the High Desert Detention Center expansion in Adelanto, which was completed in February 2014 after falling nearly $29 million over budget.

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Soda

Capitol Alert
By Jeremy B. White
jwhite@sacbee.com
April 12, 2016 – 3:27 PM

  • Latest setback for effort to limit sugary beverage consumption
  • Year after year, the campaign has met defeat in Sacramento

Elections come and go, legislative leaders rise and fall, but one constant remains in Sacramento: Soda taxes can’t get traction.

Read the rest of this entry »

No Money

By Dale Kasler
Business & Real Estate
April 12, 2016 3:29 PM
dkasler@sacbee.com

  • Bankruptcy judge says estate of Alfred Villalobos lacks money to pay money owed state
  • Villalobos commited suicide in January 2015
  • Villalobos’ fortune overstated

RENO —

The late Alfred Villalobos, the central figure in the CalPERS bribery case, always insisted he did nothing wrong and he didn’t owe the state of California a dime.

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Pension-Fund

Ed Mendel
April 14, 2016

CalPERS actuaries recommend that the annual state payment for state worker pensions increase $602 million in the new fiscal year to $5.35 billion, nearly doubling the $2.7 billion paid a decade ago before the recession and a huge investment loss.

Read the rest of this entry »

The New York Times: In California, Marijuana Is Smelling More Like Big Business

marijuana-leaf

By Ian Lovett
April 11, 2016

ADELANTO, Calif. — After decades of thriving in legally hazy backyards and basements, California’s most notorious crop, marijuana, is emerging from the underground into a decidedly capitalist era.

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CCPOA

The State Worker
By Jon Ortiz
jortiz@sacbee.com
April 11, 2016 – 12:19 PM

  • Tentative deal makes fitness pay pensionable
  • Some leave counts toward overtime threshold
  • State’s annual payments to union’s benefits trust fund will nearly triple to $14 million

The latest tentative labor agreement with California’s correctional officers proves that there’s more than one way to boost employee compensation without calling it a “raise.”

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Calpensions: Brown’s long road to retiree health cost relief

Pensions

Ed Mendel
April 11, 2016

Gov. Brown’s plan to reduce state worker retiree health care costs got only a small nod in a tentative CSU faculty contract agreement last week. But three unions have agreed to begin paying down one of the state’s fastest-growing costs and largest debts.

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The Sun: Former Riverside finance director Brent Mason chosen for San Bernardino

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 04/08/16 – 2:13 PM PDT |

SAN BERNARDINO >> City officials have chosen a new finance director: Brent Mason, who held that position in Riverside from 2010 until April 1.

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California State University

California State University and its faculty union jointly announced Friday a deal that will raise instructor salaries 10.5 percent over the next two years.

Capitol Alert
By Alexei Koseff
akoseff@sacbee.com
April 8, 2016 – 10:00 AM

  • Deal includes 7 percent bump this year
  • CSU chancellor says deal provides ‘breathing room’ to figure out how to pay for it
  • Strike scheduled for next week averted

Just days before California State University professors were expected to walk out on the job, Chancellor Timothy White and the California Faculty Association jointly announced Friday a tentative contract agreement far more expansive than the 5 percent raise teaching staff sought for nearly a year.

Read the rest of this entry »

taxifornia

Liam Dillon
April 7, 2016

Californians are spending $2 billion more at the gas pump because of the state’s carbon rules, according to the state’s independent Legislative Analyst’s Office.

Read the rest of this entry »

Los Angeles

California’s economy will grow faster this year than the national economy, according to a new study. (Mel Melcon / Los Angeles Times)

Natalie Kitroeff
April 6, 2016

California’s economy will grow faster this year than the national economy, and unemployment will drop to 5% in early 2017, according to a new report by the UCLA Anderson Forecast.

Read the rest of this entry »

The Sacramento Bee: CalPERS rethinks ban on tobacco stocks

calpers

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
April 4, 2016 – 9:08 AM

  • Decision to sell stocks in 2001 has cost $3 billion, consultant says
  • Pension fund undertakes broader look at divestment policies
  • Anti-smoking group criticizes potential move

It’s been a hallmark of CalPERS policy for 15 years: no tobacco stocks.

Read the rest of this entry »

Minimum Wage

By Don Thompson, Associated Press
Apr. 4, 2016 – 2:59 AM ET

SACRAMENTO, Calif. (AP) — California’s governor is setting in motion the most populous state’s climb toward the nation’s highest statewide minimum wage of $15 an hour to take effect by 2022.

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Self-service kiosk ar McDonald's, Friargate, Preston

Sunday, April 3, 2016 – 12:00 p.m.

California is set to increase the state’s minimum wage to $15 per hour by 2022.

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The Sun: ‘Major step forward’ for San Bernardino bankruptcy

Exit Ahead

By Ryan Hagen, The Sun
Posted: 04/01/16 – 5:48 PM PDT |

SAN BERNARDINO >> The end to the city’s three-year-old bankruptcy is in sight, but the 20 years after exiting bankruptcy will still be tough, city officials tell their creditors and bankruptcy judge in the latest version of the bankruptcy exit plan.

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Minimum-Wage

Liam Dillon and Patrick McGreevy
March 31, 2016

In a move that puts California at the forefront of efforts to raise wages for low-income workers across the country, the Legislature approved a sweeping plan Thursday to raise the minimum wage to $15 an hour over the next six years, boosting the future paychecks of millions of the state’s workers.

Read the rest of this entry »

Ontario International Airport

Published: March 30, 2016 – Updated: 10:52 a.m.

Passenger traffic at Ontario International Airport increased nearly 5.7 percent in February over the same month in 2015, with 295,948 passengers using the Inland facility.

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

Riverside-County-Seal

Shortfall could reach $100 million if cost-cutting measures aren’t adopted

Published: March 30, 2016 – Updated: 11:07 p.m.

Freezing spending, holding the line on across-the-board raises and shifting existing money are key to Riverside County’s plan to stop escalating costs from drying up reserves and causing a $100 million shortfall.

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

Amazon

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 03/30/16 – 10:47 AM PDT |

SAN BERNARDINO >> Amazon is planning to add more than 1,000 jobs to the region, announcing Wednesday that it will build a second fulfillment center in the city.

Read the rest of this entry »

State Capitol

By Don Thompson, Associated Press
Mar. 31, 2016 – 2:22 AM ET

SACRAMENTO, Calif. (AP) — California state lawmakers are poised to enact the nation’s highest statewide minimum wage on Thursday, with gradual increases to $15 by 2022.

Read the rest of this entry »

Up Arrow

By Hudson Sangree and Hector Amezcua
hsangree@sacbee.com
March 29, 2016 – 6:44 PM

  • Major industries affected would be farming, restaurants and retail
  • Impact could be greater in rural areas where cost of living is lower
  • Farmers who sell produce out of state could have a harder time competing

A landmark plan to raise the state’s minimum wage to $15 by 2022 could create sweeping changes across the industries that rely on low-wage workers and improve the living standards for millions of Californians employed in farm fields, restaurants and retail stores.

Read the rest of this entry »

Jerry Brown

Gov. Jerry Brown joined legislators and labor leaders Monday in Sacramento to announce a landmark agreement that would make California the first state in the nation to commit to raising the minimum wage to $15 per hour statewide. (Renée C. Byer rbyer@sacbee.com)

Capitol Alert
By Jim Miller and Jeremy B. White
jmiller@sacbee.com
March 28, 2016 – 7:30 AM

  • Hourly wage would increase to $15 an hour by 2022
  • Announcement comes days after November ballot measure qualifies
  • Business groups call plan ‘reckless’

Gov. Jerry Brown, Democratic leaders and labor leaders Monday touted an agreement that would raise the minimum wage to $15 an hour by 2022, saying the pact should avert an expensive ballot fight this fall.

Read the rest of this entry »

Daily Bulletin: UPS adding jobs, space at Ontario airport

UPS

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 03/27/16 – 7:52 PM PDT |

ONTARIO >> UPS has unveiled plans to add 500 jobs, growing its operations at LA/Ontario International Airport over the next five years in a bid to keep up with the growth in e-commerce.

Read the rest of this entry »

Calpensions: Annual state report begins showing pension debt

Pension Reform

By Ed Mendel
March 28, 2016

Following new accounting rules, the annual state financial report issued this month shows a “net pension liability” of $63.7 billion, a dramatic increase from the $3.2 billion “net pension obligation” reported last year.

Read the rest of this entry »

CalWatchdog: CalPERS has faith in imperiled energy status quo

calpers

Chris Reed
March 28, 2016

Is the California Public Employees’ Retirement System about to make another big mistake with a mistimed investment strategy, this time in the industrial solar sector?

Read the rest of this entry »

Minimum-Wage

John Myers and Liam Dillon
March 26, 2016

Lawmakers and labor unions have struck a tentative deal to raise the statewide minimum wage to $10.50 an hour next year and then gradually to $15, averting a costly political campaign this fall and possibly putting California at the forefront of a national movement.

Read the rest of this entry »

InlandPolitics: Local economist gets called on poor Inland Empire wage growth

Jobs

Friday, March 25, 2016 – 11:00 a.m.

The Inland Empire’s economic cheerleader was out touting the region’s job growth this week.

But he didn’t say much about all-important wage growth.

Read the rest of this entry »

Riverside-County-Seal

County faces a potential $100 million shortfall and is seeking ways to cut costs. “The KPMG report clearly outlines that CEO’s Office has been operating in a vacuum and providing inaccurate and misleading information about County departments to the Board,” the statement said.

Published: March 24, 2016 – Updated: 5:58 p.m.

Changes in how the Riverside County Sheriff’s Department responds to calls and deploys its deputies and corrections officers can save taxpayers money and improve service, according to a much-awaited outside review of the county’s public safety spending.

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

High-Speed Rail

A full-scale mock-up of a high-speed train is displayed at the Capitol in Sacramento. (Rich Pedroncelli / AP)

Capitol Alert
By Christopher Cadelago
ccadelago@sacbee.com
March 24, 2016 – 2:28 PM

  • 52 percent of adults and 44 percent of likely voters back rail
  • More would back project if it were cheaper than $64 billion
  • A pair of proposed initiatives would threaten rail funding

There’s been little positive buzz of late about California’s high-speed rail system.

Read the rest of this entry »

The San Diego Union-Tribune: Will ruling make it easier to raise taxes?

Appellate Courts

David Garrick
By David Garrick | March 23, 2016 – 8:35 p.m.

San Diego — In a decision that could have a sweeping impact across California, a new state appeals court ruling may ease approval of local tax increases if they are placed on the ballot by citizen’s initiative instead of by a government agency.

Read the rest of this entry »

California

John Myers
March 22, 2016

State lawmakers now face a political ultimatum over California’s minimum wage: quickly take action to boost it above the current $10 an hour, or stand aside for a fall campaign in which voters are urged to do it themselves.

Read the rest of this entry »

The Press-Enterprise: RIVERSIDE: Changes, deficit loom at City Hall

city-of-riverside-seal

After a multimillion-dollar surprise, city officials are adjusting their financial forecasting.

Published: March 18, 2016
Updated:   March 20, 2016 – 9:39 a.m.

Amid a shake-up of top finance employees, Riverside officials hope that changing the way they handle budgets and financial projections will help the city emerge from a surprise multimillion-dollar deficit.

To read article by Alicia Robinson in The Press-Enterprise, click here.

High-Speed Rail

A full-scale mock-up of a high-speed bullet train is displayed at the Capitol in Sacramento. (Rich Pedroncelli / Associated Press)

Ralph Vartabedian
March 18, 2016

The state has enough money to build an initial operating segment of the bullet train from San Jose to the Central Valley but faces major uncertainties about funding for the entire 500-mile system and whether the initial system will be profitable, according to a new report by researchers for the Legislature.

Read the rest of this entry »

Debt

Capitol Alert
By Dan Walters
dwalters@sacbee.com
March 18, 2016 12:07 PM

  • New accounting standards require pensions to be on balance sheet
  • The rules will also require health care obligations to be listed
  • Pension reformers praise inclusion as helping their cause

Although its 2014-15 budget was balanced, California’s state government ended the fiscal year $175.1 billion in the red, thanks largely to state retirement obligations that had to be included in its balance sheet for the first time.

Read the rest of this entry »

The Sacramento Bee: Dan Walters: California pension debts revealed

Pensions

By Dan Walters
dwalters@sacbee.com
March 15, 2016 – 4:15 PM

  • New accounting standards require pension debt to be listed
  • Multibillion-dollar unfunded liabilities are emerging
  • However, Fresno has state’s only pension fund surplus

Thanks to new accounting standards, California’s state and local governments are being forced to acknowledge tens of billions of dollars in previously obscure debt for unfunded pension liabilities.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
March 12, 2016 – 8:00 AM

  • Under court pressure, prison population has dropped sharply
  • State has dropped from 166,000 to 129,000
  • However, prison spending has continued to climb

Americans of a certain age may remember the term “peace dividend.”

Read the rest of this entry »

The Press-Enterprise: RIVERSIDE COUNTY: Overtime costs soaring

Riverside-County-Seal

Eight departments spent at least $1 million on OT last fiscal year, a new report finds.

Published: March 11, 2016 – 05:27 p.m.

Eight Riverside County departments spent at least $1 million on overtime during fiscal 2014-15, and five of those departments have seen overtime costs rise 52 percent or more in the past five years, according to a new report from the county auditor-controller.

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

U.S. Treasury Building

Contributions to the Treasury Department’s MyRA program can be made through direct deposit from a paycheck or a banking account. Treasury Secretary Jack Lew said the department is emphasizing the program in hopes that people will use some of their tax returns to begin saving for retirement. (J. David Ake / Associated Press)

Sarah D. Wire
March 11, 2016

A recent study shows nearly half of California workers don’t have a retirement savings plan available at work, and the U.S. Treasury Department is hoping a new no fee, no minimum deposit retirement saving program will fill the gap.

Read the rest of this entry »

Money

Julie Makinen
March 11, 2016

Los Angeles is now the eighth most expensive city in the world for tourists and foreign businesspeople, a study released Thursday said, as a rising U.S. dollar has pushed the City of Angels ahead of pricey metropolises including Tokyo and Shanghai.

Read the rest of this entry »

Los Angeles Times: CalPERS settles with Moody’s for $130 million in ratings case

calpers

James Rufus Koren
March 9, 2016

Moody’s Corp. will pay $130 million to the California Public Employees’ Retirement System to settle allegations that the ratings agency acted negligently by giving top scores to ultimately toxic investments that cost the pension fund hundreds of millions of dollars, CalPERS said Wednesday.

Read the rest of this entry »

Dan Walters

By Dan Walters
March 8, 2016 – 3:08 PM

  • Judge rules that bullet train doesn’t violate bond act
  • However, other legal hurdles still must be cleared
  • Project still faces financial challenges as well

California’s highly controversial bullet train project dodged a bullet Tuesday when a judge declared that opponents had not proved that it would violate provisions of a 2008 bond measure.

Read the rest of this entry »

taxifornia

Plastic bottles of soda could become more expensive after a state lawmaker in California proposed a soda tax to pay for health programs.

Patrick McGreevy
March 8, 2016

Alarmed by an obesity epidemic, two state lawmakers on Tuesday proposed a “health impact fee” of 2 cents per ounce on sugar-sweetened sodas and other drinks sold in California.

Read the rest of this entry »

Carl's Jr.

For years, corporate offices were based in Anaheim. The headquarters relocated 13 years ago to Carpinteria. (File Photo)

By Nancy Luna, Staff Writer
March 8, 2016 – Updated 5:10 p.m.

The parent company of Carl’s Jr., founded in Anaheim 60 years ago, is relocating its California headquarters to Nashville, Tenn.

Read the rest of this entry »

California State University

Members of the California Faculty Association and supporters attend a meeting of Cal State trustees in Long Beach on March 8. (Jay L. Clendenin / Los Angeles Times)

Carla Rivera
March 8, 2016

California State University faculty members appealed to trustees Tuesday to do more to avert a strike at the nation’s largest university system, but the two sides remain at odds over salaries for about 26,000 professors, lecturers, librarians, counselors and coaches.

Read the rest of this entry »

THE Press-Enterprise: REAL ESTATE: Inland commercial forecast mixed

Howard Warehouse - Redlands

Published: March 4, 2016 – 6:23 p.m.

A rapidly changing industrial landscape means a mixed bag for commercial real estate for the Inland area for the remainder of 2016, according to a forecast by a key real estate company.

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

Ontario International Airport

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 03/06/16 – 6:40 PM PST |

CLAREMONT >> What does a thriving LA/Ontario International Airport mean to the Inland Empire’s economy? It’s a question many economists and officials have asked as ONT’s passenger traffic dwindled by 32 percent from 2007 and 2010.

Read the rest of this entry »

The Press-Enterprise: RIVERSIDE: Council may ask voters for a raise

city-of-riverside-seal

A proposed ballot measure would bump the council’s annual pay from $41,376 to $66,211.

Published: March 4, 2016 – 1:58 p.m.

Many Riverside City Council members past and present would say that the job demands at least full-time hours.

But whether council members should be paid more than their current annual salary of $41,376 is about to become a matter of public debate.

To read article by Alicia Robinson in The Press-Enterprise, click here.

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 03/04/16 – 8:07 PM PST |

SAN BERNARDINO >> The week that began with the City Council putting off a key vote related to fire annexation until March 21 and hinting that it might not back it after all ended with a 4-0 vote to approve the item.

Read the rest of this entry »

Economy

Jim Puzzanghera
March 4, 2016

A surprisingly strong gain of 242,000 net new jobs last month helped ease fears that the U.S. was skidding toward a recession, but a disappointing drop in average wages showed that the labor market is still a ways from fully healed.

Read the rest of this entry »

Jobs

Jim Puzzanghera
March 4, 2016

The labor market showed surprising strength last month in the face of slowing global growth, adding a robust 242,000 net new jobs after disappointing gains in January added to fears the U.S. economic recovery was losing momentum.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
March 3, 2016 – 3:28 PM

  • Supreme Court allows ‘inclusionary’ housing laws
  • Such approaches don’t really solve crisis
  • California needs to build a lot more housing

Advocates of so-called “inclusionary” policies to provide more housing to low- and moderate-income families were elated when the U.S. Supreme Court this week spurned a challenge to San Jose’s ordinance.

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Yahoo!

Yahoo is facing mounting pressure from shareholders who are threatening to overthrow the company’s board.

By Wendy Lee
Updated: March 3, 2016 – 8:19pm

Yahoo Chief Financial Officer Ken Goldman on Thursday reassured investors that the struggling company is serious about exploring all of its options, including a sale.

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Beacon Economics

A trio of new reports from Beacon Economics show that high home prices are driving low and medium-wage workers out of California. The studies also say that not enough homes are being built.

By Kevin Smith, San Gabriel Valley Tribune
Posted: 03/03/16 – 2:01 AM PST | Updated: 1 hr ago

California boasts some of the highest wages and fastest rates of job growth in the nation but high housing costs are pushing many people out of the state, according to a trio of reports released Wednesday.

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San Bernardino Seal

Wednesday, March 2, 2016 – 09:00 a.m.

It took the San Bernardino City Council long enough to figure out that a special district parcel tax, part of a plan to fund the county taking over the city’s fire department, was nothing more than a tax grab.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
February 29, 2016 – 6:10 PM

  • Republicans provide votes for new tax on managed care organizations
  • With medical issue settled, attention turns to gas tax
  • Is there a deal on new transportation revenues?

When Republicans gained a few seats in the Legislature two years ago, they regained their power over tax increases.

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Jerry Brown

Gov. Jerry Brown speaks at the Capitol on Jan. 7. (Rich Pedroncelli / Associated Press)

By Melanie Mason
February 29, 2016

Culminating a prolonged, wonky debate that has consumed the Capitol for months, legislators on Monday approved a new tax on healthcare plans that would help finance the state’s public healthcare program for the poor.

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InlandPolitics: San Bernardino County public attorneys get new contract, raises

SBCPAA

Saturday, February 27, 2016 – 04:00 p.m.

The union representing public attorneys employed by San Bernardino County has secured a new collective bargaining agreement through August 2019.

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The Press-Enterprise: RIVERSIDE: City officials struggling with deficit

city-of-riverside-seal

Officials say they’ll seek savings but expect to spend reserves to cover some of $8 million budget gap.

Published: Feb. 25, 2016
Updated:   Feb. 26, 2016 – 6:43 a.m.

After projecting a $1 million surplus last June, Riverside officials now say the city faces an $8 million deficit this fiscal year and potential budget gaps in coming years.

To read story by Alicia Robinson in The Press-Enterprise, click here.

Associated Press

By Don Thompson, Associated Press
February 23, 2016

SACRAMENTO, Calif. (AP) — California’s tax board voted Tuesday to lower the state excise tax on gasoline by 2.2 cents per gallon as of July 1.

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The Sacramento Bee: Dan Walters: California GOP ready to support a new tax

Dan Walters

By Dan Walters
dwalters@sacbee.com
February 22, 2016 – 3:54 PM

  • Gov. Jerry Brown proposes tax on medical organizations
  • It would generate net gain in federal health care aid
  • Republican votes needed and likely in Assembly

Opposition to new taxes has been a bedrock stance for Republican legislators, one they can enforce because taxes require two-thirds legislative votes.

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The Sacramento Bee: State spending more money than ever, but how to measure it?

California Taxes

Data Tracker
By Jim Miller
jmiller@sacbee.com
February 19, 2016 – 7:41 PM

  • Total general fund and special funding in proposed plan tops $167 billion
  • Plan reflects about $7.78 in spending for every $100 in personal income
  • More spending has been shifted from general fund to special funds

When it comes to debating whether California government spends too much money or too little, there are multiple reasons agreement is hard to come by.

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Los Angeles Times: California economy is poised to grow in 2016 and 2017, report says

California

Shan Li
February 17, 2016

Employers in Los Angeles and the rest of California will keep hiring in the next two years but at a slightly slower pace than in 2015, a new report said.

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