Archive for the ‘ Finance ’ Category

DailyBulletin: Economic Conference: Education key to Inland Empire growth

Inland Empire

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/29/14, 5:01 PM PDT | Updated: 4 mins ago

ONTARIO >> While the Inland Empire economy continues on the upswing, the growth of high-paying jobs and quality firms continues to be hindered by educational attainment levels.

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US Bankruptcy Court

By Marc Lifsher and Melody Petersen
October 29, 2014

In a closely watched case, a federal judge on Thursday is expected to decide whether the bankrupt city of Stockton can continue to pay employees generous pensions that soon could consume one-fifth of municipal revenues.

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federal reserve

By Jim Puzzanghera
October 29, 2014

Federal Reserve policymakers voted Wednesday to end the central bank’s controversial bond-buying stimulus program, determining the economy is strong enough to remove the unprecedented support.

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SFChronicle: Gov. Jerry Brown downplays possibility of tax-hike extension

Jerry Brown

By Carla Marinucci
Monday, October 27, 2014

Emphasizing what he called the Democratic Party’s commitment to frugal governing, Gov. Jerry Brown downplayed the chances Monday of returning to the voters to renew sales and income tax increases when they expire starting at the end of 2016.

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The Sun: San Bernardino: Charter to cause $1.3 million in raises this year

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 10/23/14, 8:24 PM PDT |

SAN BERNARDINO >> The cost of police salary increases required by the city Charter Section 186 will surpass $1.3 million for the 2014-15 year, according to City Manager Allen Parker.

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UCR

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/23/14, 9:17 PM PDT |

RIVERSIDE >> Optimism about the regional and national economy was abundant at the 2014 Riverside/San Bernardino Economic Forecast Conference hosted Thursday by Los Angeles-based Beacon Economics and the UC Riverside School of Business Administration.

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Pensions

Governments sent CalPERS more than $8 billion last year, an amount that has quadrupled in the last 10 years. (Thomas Fuchs / For The Times)

By Melody Petersen and Marc Lifsher
October 23, 2014

Directing traffic is part of a police officer’s job, and in the city of Fountain Valley, keeping cars moving comes with a $145 monthly bonus — and a bigger pension.

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calpers

October 23, 2014

The board of the California Public Employees’ Retirement System voted to add to a recent pension reform law 99 bonuses that can boost workers’ current paychecks and also their future pensions. Here are some of these retirement-enhancing bonuses:

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interest_rates

By E. Scott Reckard
October 23, 2014

The lowest mortgage rates of the year sank a bit lower this week, with Freddie Mac reporting that lenders were offering 30-year fixed loans at an average of 3.92%, down from 3.97% a week ago.

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LATimes: Strong growth is forecast for Inland Empire

Inland Empire

By Chris Kirkham
October 23, 2014

It was among the nation’s hardest-hit local economies during the Great Recession, beset by staggering numbers of foreclosures and one of the highest jobless rates in California.

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SacBee: Dan Walters: Opinion: Local measures will test support for tax extensions

Dan Walters

By Dan Walters
dwalters@sacbee.com
10/20/2014 6:54 PM

It’s virtually certain that California voters will be asked in 2016 to extend – perhaps permanently – the temporary increases in sales and income taxes that they approved in 2012.

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calpers

By TERI SFORZA
STAFF COLUMNIST
tsforza@ocregister.com
Published: Oct. 19, 2014 Updated: Oct. 20, 2014 10:37 a.m.
image0-Watchdog: Thousands join the ‘$100K club’ for pensions

Back in 2005, some 1,841 retirees pulled down more than $100,000 a year in pension checks from the California Public Employees’ Retirement System.

By 2009, this so-called “$100K club” had more than tripled, to 6,133 members.

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NABE

By Jim Puzzanghera
October 20, 2014

Business economists reported solid but slowing growth at their companies over the summer as gauges of sales, hiring and profit margins fell slightly from the second quarter, according to survey results released Monday.

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LATimes: California unemployment rate drops to 7.3% in September

unemployment down

By Chris Kirkham
October 17, 2014

California’s unemployment rate dropped to 7.3% in September — the lowest in more than six years — though the total number of jobs declined by 9,800 last month, according to state data.

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freddie-mac-fannie-mae-logo

Fannie Mae and Freddie Mac are the biggest pillars of support for U.S. housing, guaranteeing 59% of all mortgages being written.

By E. Scott Reckard and Tim Logan
October 17, 2014

Mortgage financing giants Fannie Mae and Freddie Mac, together with their federal regulator, have drawn up rules aimed at loosening constricted lending standards to make mortgages more affordable and easier to get for those with less than stellar credit.

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DailyBulletin: Upland council pays back debts with surplus revenue

Upland seal

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 10/16/14, 1:00 PM PDT | Updated: 1 min ago

UPLAND >> The city was left with a $6.3 million surplus after positive revenue gains and winnings from two legal settlements in the last fiscal year.

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The Sun: San Bernardino mayor: Police union claim untrue

San Bernardino SealSBPOA

By Ryan Hagen, The Sun
Posted: 10/15/14, 9:10 PM PDT |

SAN BERNARDINO >> Police union claims that the city’s management “misinterpreted” a tentative agreement are untrue, Mayor Carey Davis said Wednesday — it’s the union that’s trying to change the contract.

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Priya Mathur

Priya Mathur was removed from CalPERS board leadership positions for campaign finance disclosure infractions. | CalPERS

By Dale Kasler
dkasler@sacbee.com
0/15/2014 10:37 PM

CalPERS punished one of its own Wednesday, stripping a prominent board member of her leadership positions because of her latest violations of the state’s campaign finance disclosure laws.

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LATimes: Home sales post gains

For Sale

Higher prices have pushed many investors and cash buyers out of the market, while still-low interest rates and an improving economy are luring more so-called regular buyers. Above, a home for sale in Long Beach. (Cheryl A. Guerrero / Los Angeles Times)

By Tim Logan
October 13, 2014

Southern California’s housing market is starting to pick up the pace.

Home sales in the six-county Southland grew for the first time in a year in September as prices moderated from last year’s torrid gains, according to figures out Monday.

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VVDailyPress: Feds send Barstow casino notices to agencies

Los Coyotes Casino

Conceptual rendering of the proposed Barstow Casino. (Photo courtesy of www.barstowcasinoproject.com)

MIKE LAMB
STAFF WRITER
Posted Oct. 12, 2014 @ 2:31 pm
Updated Oct 12, 2014 at 2:44 PM

BARSTOW — Local government agencies would lose some property tax revenue if land being targeted for an Indian casino is put into a trust for development, but one Barstow City Councilman says that shouldn’t be a concern.

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SacBee: Dan Walters: Tax reform a better option, but Prop. 2 is only game in town

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Saturday, Oct. 11, 2014 – 8:07 pm

The Capitol’s politicians have known for years – and should have known for decades – that the state budget’s ever-increasing dependence on personal income taxes, especially those from high-income taxpayers, posed a big problem.

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SacBee: Dan Walters: Democratic supermajorities at risk with taxes in background

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Oct. 9, 2014 – 10:15 pm
Last Modified: Thursday, Oct. 9, 2014 – 10:53 pm

Two years ago, Democrats won what were quickly dubbed “supermajorities” in both houses of the Legislature, but in the ensuing months, they lost the Senate supermajority.

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Politico: A maze to opt out of Obamacare individual mandate

Politico

By RACHAEL BADE | 10/9/14 11:58 AM EDT Updated: 10/9/14 12:57 PM EDT

There are dozens of ways to escape Obamacare’s individual mandate tax — but good luck figuring that out come tax season.

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Unemployment Benefits Application

By Jim Puzzanghera
October 9, 2014

Average weekly unemployment claims over the last month hit an eight-year low, the government reported, in another positive sign for the labor market recovery.

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By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/08/14, 5:05 PM PDT | Updated: 3 hrs ago

ONTARIO >> The second highest ranking Democrat in the U.S. House of Representatives shared his vision for national economic growth at a forum in Ontario on Wednesday hosted by State Sen. Norma Torres, and the Inland Empire Economic Partnership business advocacy group.

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The PE: POLITICS: Roth seeks override on veto of vehicle fee measure

Veto Override

Special legislative session would be required to overturn Gov. Brown’s rejection of funding for Eastvale, Jurupa Valley, Menifee and Wildomar.

Published: Oct. 6, 2014 Updated: Oct. 7, 2014 11:21 a.m.

Possibly reviving four Inland cities’ hopes for financial stability, state Sen. Richard Roth, D-Riverside, is seeking to reverse the veto of a bill that would have restored vehicle license fees to Eastvale, Jurupa Valley, Menifee and Wildomar.

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

SBCO Seal

By Joe Nelson, The Sun
Posted: 10/07/14, 4:17 PM PDT |

SAN BERNARDINO >> After 25 years of repeated attempts to get passed in San Bernardino County a property tax relief program for new homebuyers, the Board of Supervisors on Tuesday finally approved an ordinance.

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San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 10/06/14, 8:36 PM PDT | Updated: 1 min ago

SAN BERNARDINO >> Mayor Carey Davis broke a tie late Monday to impose new terms and conditions of employment on the city’s firefighters.

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UTSanDiego: Hundreds fail to report bond-firm meals

Free Meal

Statewide investigation started in Poway, nabbed 260 officials
By Ricky Young and Jeff McDonald
Oct. 6, 2014 – 02:52 p.m.

California regulators have cracked down on hundreds of public officials up and down the state who accepted meals, baseball tickets, brownies and other gifts from a bond-finance company and failed to disclose them.

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Calpensions: Pensions still a puzzle in Stockton bankruptcy

Pieces to the Puzzle

By Ed Mendel
October 6, 2014

A federal judge ruled last week that Stockton’s CalPERS pensions can be cut in bankruptcy. But Stockton does not want to cut pensions, and the lone holdout creditor says it can be paid without cutting pensions.

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The PE: JURUPA VALLEY: City won’t give up on lost funds

Jurupa Valley Seal

Another bill or a lawsuit against the state could be the next moves to get lost revenue restored.

Published: Oct. 3, 2014 Updated: 5:13 p.m.

Jurupa Valley leaders said this week that they will fight to remain a city after Gov. Jerry Brown’s second veto in three years of a bill to restore crucial state funding to Jurupa Valley and Riverside County’s three other new cities of Eastvale, Wildomar and Menifee.

Like Riverside County officials, they may consider a lawsuit against the state.

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

Inland Empire

By Kevin Smith, San Gabriel Valley Tribune
and Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/03/14, 9:10 PM PDT |

The nation’s unemployment rate dropped to 5.9  percent, its lowest level in more than six years, after U.S. employers added 248,000 jobs in September, according to the latest data from the U.S. Department of Labor.

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SacBee: Dan Walters: Bankruptcy judge lights fuse with Stockton pension ruling

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Oct. 2, 2014 – 10:20 pm

It should have surprised no one that federal Bankruptcy Court Judge Christopher Klein declared that public employees’ pensions are not sacrosanct when their employers declare bankruptcy.

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By Kevin Drawbaugh and Richard Cowan
WASHINGTON Thu Oct 2, 2014 6:14pm EDT

(Reuters) – A new math for tax policy is attracting fresh attention in Washington as polls suggest that Republicans could capture full control of the U.S. Congress next month.

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The Sun: Agreement between San Bernardino and police union breaks down

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 10/01/14, 9:17 PM PDT | Updated: 31 mins ago

SAN BERNARDINO >> A tentative agreement between the city and the police union that both sides trumpeted months ago has broken down, union president Steve Turner said Wednesday.

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Home Construction

Construction workers pour a concrete slab for a home under construction in Rancho Cucamonga on Wednesday. The median price for a single-family home in the Inland Empire rose 16.5 percent, to $267,000, in the space of a year. (Will Lester – staff photographer)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/01/14, 8:05 PM PDT | Updated: 1 min ago

A new report on the Inland Empire economy released Wednesday by the Los Angeles-based economic research firm Beacon Economics finds home prices rising in a region experts say is a major growth area for the state.

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Housing Bubble

Los Angeles and Orange Counties are two of the three most overvalued housing markets in the country, according to a new report from Trulia.

By Tim Logan
October 2, 2014

Southern California’s housing markets are among the most overvalued in the nation, according to a new report. But the closest thing in this country to a housing bubble is actually in Texas.

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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.

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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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

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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.

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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.

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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.

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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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