Archive for the ‘ Finance ’ Category

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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%.

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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.

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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.

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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.

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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.

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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

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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.

Read the rest of this entry »

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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SacBee: California state revenue beats expectations in July

california_state_flag

By David Siders
dsiders@sacbee.com
Published: Monday, Aug. 11, 2014 – 10:10 am

California’s improving budget outlook has continued into the new fiscal year, with revenue last month beating estimates by about $232 million, or 4.5 percent, the state controller said Monday.

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San Bernardino Seal

Monday, August 11, 2014 – 09:30 a.m.

Only in backwards and bankrupt San Bernardino can this type of politics continue unabated.

Once again the city council, under new Mayor Carey Davis, is split down a 4-3 divide. A decades-long problem affecting the beleaguered city’s government.

Read the rest of this entry »

Mapp Bio

Monday, August 11, 2014 – 09:00 a.m.

One has to wonder.

The current scare over the Ebola virus is well taken. You know, that virus that causes out-of-control internal hemorraging and organ failure, and ultimately death in ninety-percent of those infected.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Aug. 11, 2014 – 12:00 am
Last Modified: Monday, Aug. 11, 2014 – 6:34 am

With just three weeks remaining in this year’s legislative session and the official deadline for placing issues on the Nov. 4 ballot long since passed, one might think that the Capitol’s politicians would be working night and day to write a new water bond.

Read the rest of this entry »

NYTimes: Print Is Down, and Now Out

newspaper-future

Media Companies Spin Off Newspapers, to Uncertain Futures

By DAVID CARRAUG. 10, 2014

A year ago last week, it seemed as if print newspapers might be on the verge of a comeback, or at least on the brink of, well, survival.

Read the rest of this entry »

InlandPolitics: This and That!

Edit

Sunday, Augusr 10, 2014 – 11:00 a.m.

Here’s some news flowing across the transom last week. In case you missed it!

Unemployment claims drop by 18,000

First-Time Jobless Claims dropped by 18,000 to 289,000, according to Thursday’s report by the Labor Department. The four-week moving average of 293,500 is the lowest since 2006. The claims estimate was for 305,000.

Read the rest of this entry »

SBCO Seal

Saturday, August 9, 2014 – 11:00 p.m.
Last Modified: Sunday, August 10, 2014 – 10:15 a.m.

A shady agreement from San Bernardino County’s past reared its ugly head this week.

Read the rest of this entry »

The PE: INLAND: Home construction industry building momentum

Home Construction

Builders are reviving Inland housing projects in master-planned developments derailed by the recession. Development areas include Riverside, Chino, Temecula, Ontario, Banning/Beaumont, Coachella, Calimesa, Lake Elsinore, Menifee, Murrieta, Rancho Cucamonga, San Jacinto, Redlands.

BY DEBRA GRUSZECKI / STAFF WRITER
Published: Aug. 9, 2014 Updated: 7:57 p.m.

Across the Inland region, developers are looking with renewed interest at thousands of acres where residential communities were approved or under construction when the recession hit – but never finished.

From Temecula and Riverside to Redlands and Ontario and beyond, construction crews are at work on developments that had languished for years as the Inland region crawled through economic hard times.

To read story by Debra Gruszecki in the Press-Enterprise, click here.

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Saturday, Aug. 9, 2014 – 11:15 pm
Last Modified: Saturday, Aug. 9, 2014 – 11:55 pm

The Sacramento Suburban Water District, which supplies water to some older neighborhoods outside the city, is engaged in a decades-long project to replace its aged, undersized water mains and install meters as required by a new state law.

Read the rest of this entry »

The PE: REAL ESTATE: Rising home prices take noticeable bite out of buying power

Home-Sales-R

While home prices have rise risen, income gains have not kept pace

Published: Aug. 8, 2014 Updated: 10:31 p.m.

Home affordability is a growing concern in Southern California, so much so that some real estate analysts are watching for signs of a post-recession housing bubble.

To read story by Debra Gruszecki in the Press-Enterprise, click here.

LATimes: New FICO criteria could help borrowers

Credit Cards

FICO changes could make it easier for some consumers to get loans and credit cards at lower rates. (Elise Amendola / Associated Press)

By E. Scott Reckard and Tim Logan
August 8, 2014

The nation’s dominant credit-scoring system is being revised in a way that could save consumers nationwide billions of dollars, especially in qualifying for mortgages, auto loans and credit cards at lower interest rates.

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The Sun: San Bernardino council votes to put two charter changes to the voters

San Bernardino Seal

By Joe Nelson, The Sun
Posted: 08/07/14, 8:56 PM PDT |

SAN BERNARDINO >> Voters in November will get to determine how police and firefighter salaries are determined after the City Council on Thursday night approved a ballot measure proposing to repeal a longstanding formula used for determining those wages.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Aug. 7, 2014 – 9:06 pm
Last Modified: Friday, Aug. 8, 2014 – 12:07 am

When the Legislature adjourns this month, it will likely leave Assembly Bill 69 still sitting in the Senate Rules Committee, thereby avoiding an election-year debate on whether California motorists should cough up billions of extra dollars when they buy gas.

Read the rest of this entry »

LATimes: Many Americans are still struggling financially

economy

By Don Lee
August 7, 2014

Four in 10 U.S. households are straining financially five years after the Great Recession — many struggling with tight credit, soaring education debt and profound issues related to savings and retirement, according to a new Federal Reserve survey.

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Bank of America

FILE – In this Jan. 14, 2014, file photo, a Bank of America sign is photographed in Philadelphia. A person familiar with the matter says Bank of America has agreed to pay between $16 billion and $17 billion to settle an investigation into its sale of mortgage-backed securities before the financial crisis. (AP Photo/Matt Rourke, File)

By Kevin Smith, San Gabriel Valley Tribune

Posted: 08/06/14, 7:20 PM PDT | Updated: 1 min ago

Bank of America has tentatively agreed to pay up to $17 billion to settle an investigation into its sale of toxic mortgage-backed securities leading up to the nation’s financial crisis, an insider said Wednesday.

Read the rest of this entry »

VVDailyPress: County leaders stress job growth

SBCO Seal

SHEA JOHNSON
STAFF WRITER
Posted Aug. 6, 2014 @ 7:12 pm
Updated Aug 6, 2014 at 7:17 PM

VICTORVILLE — San Bernardino County supervisors and CEO Greg Devereaux on Wednesday touched upon a myriad of subjects affecting the county, including a push for technical education, the need for more private sector jobs and the ongoing impact of prison realignment.

Read the rest of this entry »

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Aug. 6, 2014 – 11:24 pm

California officials are threatening to sue investment bank Morgan Stanley over a series of toxic real estate investments that allegedly cost CalPERS nearly $200 million.

Read the rest of this entry »

CabinetReport: LAO review reveals more good budget news

Calculator+Finance+Budget

August 07, 2014
by Tom Chorneau

(Calif.) With the dust settling on this summer’s budget agreement and work complete on related trailer bills, the nonpartisan Legislative Analyst issued this week its most thorough review to date on exactly what was done.

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The PE: RIVERSIDE COUNTY: Top elected officials getting raises

Money

Supervisors also vote to keep linking their pay to what state’s judges make.

Published: Aug. 5, 2014 Updated: 8:49 p.m.

Riverside County supervisors on Tuesday approved raises for elected officials who head some county departments after tweaking pay hikes suggested by the county’s human resources department.

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

The Sun: SEC files complaint against Redlands broker for theft of accounts

U.S. SEC

By Sandra Emerson, Redlands Daily Facts
Posted: 08/04/14, 11:44 PM PDT |

REDLANDS >> A Redlands broker has been charged by the U.S. Securities and Exchange Commission with stealing $4.4 million from two trust brokerage accounts at his firm and diverting it to friends to spend on luxuries.

Read the rest of this entry »

The Sun: Negotiations for control of ONT continue

Ontario International Airport

By Liset Marquez, Inland Valley Daily Bulletin
Posted: 08/04/14, 8:40 PM PDT |

ONTARIO >> Local officials say they continue to make progress with Los Angeles in negotiating for control of LA/Ontario International Airport.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Aug. 4, 2014 – 10:19 pm

The water squeeze is on. A few sprinkles fell on the Capitol Monday as the Legislature reconvened, but they didn’t relieve either a severe drought or pressure on members to respond.

Read the rest of this entry »

InlandPolitics: This and That!

Edit

Monday, August 4, 2014 – 09:00 a.m.

Here’s some news flowing across the transom from the week of August 28, 2014. In case you missed it!

U.S. Gross Domestic product climbs 4.0% in Q2

The second quarter initial reading on U.S. Gross Domestic Product (GDP) came in at a healthy 4.0%.

Read the rest of this entry »

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 08/03/14, 6:19 PM PDT | Updated: 1 min ago

SAN BERNARDINO >> City Manager Allen Parker will ask the City Council today for permission to request proposals from outside fire departments that may be able to provide the city fire services for less money.

Read the rest of this entry »

Adelanto Logo

The city currently has a $2.6 million deficit and is asking voters to approve a 7.95 percent utility-user tax in November to help alleviate the debt.

BROOKE SELF
STAFF WRITER
Posted Aug. 3, 2014 @ 1:54 pm
Updated Aug 3, 2014 at 2:07 PM

ADELANTO — Adelanto’s recent financial woes, which are pushing city officials toward a bankruptcy filing, have led many residents to question what’s next for the small High Desert city.

Read the rest of this entry »

OCRegister: Public pensions: Good news, bad news

Pension Reform

Annual returns are looking good for many funds, but they are still in a big hole when it comes to being able to meet obligations.

By TERI SFORZA / STAFF COLUMNIST
Published: Aug. 3, 2014 Updated: 6:20 p.m.

Public investment types may be rubbing their hands together muttering, “money, money, money,” after stellar returns over the past year, but some have a lot more to crow about than others.

Read the rest of this entry »

The PE: Top Riverside County officials could get big raises

Money
Five elected leaders could get pay hikes approaching 25 percent. A separate item would tie supervisors’ salaries to judges’ earnings.

Published: Aug. 2, 2014 Updated: 9:53 p.m.

Riverside County’s sheriff, district attorney and other elected officials who earn six-figure salaries would get raises approaching 25 percent under a proposal before the Board of Supervisors on Tuesday.

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

Donald Sterling

Illustration by Robert Carter / For The Times

By Nathan Fenno, Kim Christensen, James Rainey
August 2, 2014

Inside the pillared estate on North Beverly Drive, after a television interview that lasted an hour and 20 minutes, Donald Sterling hoisted himself out of his chair. The Clippers owner and real estate mogul took a few steps before his knees buckled and he stumbled toward the living room floor.

Two people on either side kept the 80-year-old billionaire from falling, witnesses recalled.

Read the rest of this entry »

SacBee: Dan Morain: Zombie debt rises, 18 years later

Dan Morain

By Dan Morain
dmorain@sacbee.com
Published: Sunday, Aug. 3, 2014 – 12:00 am
Last Modified: Sunday, Aug. 3, 2014 – 12:19 am

On behalf of Cascade Capital LLC Series A, Convergent Outsourcing Inc. sent me a letter telling me I had past-due balance of $455.86.

Read the rest of this entry »

By Tiffany Hsu
August 2, 2014

A short gig doing security for the True Blood television show. A stint driving for a rental car company. A week as a customer service representative at a retail store.

Read the rest of this entry »

InlandPolitics: San Bernardino County: Top 25 highest-paid executives

SBCO Seal

Saturday, August 2, 2014 – 03:00 p.m.

Here’s the Top 25 highest paid public employees in San Bernardino County government, according to 2013 compensation figures provided by the searchable database at website TransparentCalifornia.com

The totals include all costs related to the positions, including inusrance, pension contributions, allowances, etc. For hourly-wage employees further down in the database, overtime is included.

So much for tightening those purse strings!

Read the rest of this entry »

The PE: San Bernardino’s bankruptcy reaches two-year mark, quietly

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 07/31/14, 7:15 PM PDT |

SAN BERNARDINO >> At a certain age, people stop talking about birthdays, and so it is with the quiet second anniversary of the city’s filing for bankruptcy protection.

Read the rest of this entry »

Tax Reform

Published: July 31, 2014 Updated: 1:03 p.m.

Coachella could become the third Riverside County city to raise its sales tax rate above 8 percent if residents approve a ballot measure in November.

To read story by Luke Ramseth in the Press-Enterprise, click here.

Bill Lockyer

Lockyer

Allen Young, Staff Writer
Jul 31, 2014, 2:46pm PDT – Updated: Jul 31, 2014, 3:04pm PDT

State Treasurer Bill Lockyer said Thursday he predicted an inevitable political push to extend the 2012 tax hike known as Proposition 30, but he expects the measure will return to voters before it expires in two years.

Read the rest of this entry »

LATimes: U.S. economy grows at 4% annual rate in second quarter

Economy

By Jim Puzzanghera, Don Lee
July 30, 2014

The economy’s strong second-quarter growth showed the recovery has regained momentum after a brutal winter and could signal a quicker end to the era of rock-bottom interest rates.

Read the rest of this entry »

McClatchyDC: Fed taper continues, on pace to end in October

The facade of the U.S. Federal Reserve building is reflected on wet marble during the early morning hours in Washington

By Kevin G. Hall
McClatchy Washington Bureau
July 30, 2014

WASHINGTON — Citing the improving economy and a firming jobs markets, the Federal Reserve announced Wednesday it was again trimming its monthly purchases of government and mortgage bonds by another $10 billion and is on pace to end the program this year.

Read the rest of this entry »

The Sun: Ontario airport, area hotels report some growth in 2014

ontario airport

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 07/27/14, 9:28 PM PDT | Updated: 37 secs ago

Ontario and Rancho Cucamonga hotels near the L.A./Ontario International Airport are reporting occupancy growth this year, as airport officials report some growth in passenger traffic during the first half of 2014.

Read the rest of this entry »

The Sun: Inland Empire housing market still in flux

Arrow

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 07/27/14, 6:24 PM PDT | Updated: 1 min ago

It was supposed to be a breakout year for home sales.

But after years of recession that bulldozed the Inland Empire housing market, there are still glitches in the road to recovery.

Read the rest of this entry »

question-mark

By Ed Mendel
July 28, 2014

Bankrupt Detroit announced last week that current workers and retirees voted overwhelmingly to cut many pensions by 4.5 percent and to trim or eliminate cost-of-living adjustments.

Read the rest of this entry »

Money

By Stephen Ceasar
July 27, 2014

Last year, James Hammond, the superintendent of the Montclair-Ontario Unified School District in the Inland Empire, was paid $492,077. Jonathan Eagan, the principal of a junior high school in the Bay Area city of Martinez made $279,669.

Read the rest of this entry »

VVDailyPress: Adelanto citizens critical of utility tax

Adelanto Logo

City manager hopes residents will consider the option

BROOKE SELF
STAFF WRITER
Posted Jul. 26, 2014 @ 6:09 pm
Updated Jul 26, 2014 at 6:13 PM

ADELANTO — Several Adelanto citizens said this week that they would vote against a proposed utility-user tax that would allow the nearly bankrupt city to avoid an impending Chapter 9 filing.

Read the rest of this entry »

Home Construction

By Lew Sichelman
July 26, 2014

If your builder is late delivering your new house, don’t be too upset. You are not alone. New home buyers almost everywhere are probably experiencing the same thing.

Read the rest of this entry »

DailyBulletin: Ontario-Montclair schools superintendent James Hammond made $492K

Ontario-Montclair School District

By Grace Wong, Inland Valley Daily Bulletin
Posted: 07/25/14, 9:49 PM PDT |

The superintendent of the Ontario-Montclair School District is one of the most highly compensated superintendents in the state of California, according to data on public schools salaries published this week.

Read the rest of this entry »

Fuel Gas

The average price for regular gasoline in California fell below $4 a gallon on Friday, according to one gauge.

By Andrew Khouri
July 25, 2014

California gasoline prices are falling, welcome news for motorists amid the summer driving season.

Read the rest of this entry »

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Jul. 24, 2014 – 8:32 pm

It’s been one of the darkest chapters in CalPERS history, a bribery scandal that prompted a guilty plea from its former chief executive earlier this month.

It’s also been rather profitable.

Read the rest of this entry »

DailyBulletin: CSUSB study highlights public perception of Inland Empire economy

California State University - San Bernardino

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 07/22/14, 9:47 PM PDT | Updated: 1 min ago

Upland resident Mirella Lozano has hope.

Despite being unemployed for five years, he’s optimistic about San Bernardino County’s job market.

Read the rest of this entry »

Tax Reform

By Paul Rogers
progers@mercurynews.com
Posted: 07/22/2014 07:15:34 PM PDT3 Comments
Updated: 07/22/2014 08:09:01 PM PDT

Major water districts in California are quietly considering using property taxes — and possibly raising them without a vote of the public — to help fund Gov. Jerry Brown’s $25 billion plan to build two massive tunnels through the Sacramento-San Joaquin River Delta.

Read the rest of this entry »

Economy

By Bernard Condon
Associated Press
Posted: 07/22/2014 11:58:06 AM PDT0 Comments
Updated: 07/22/2014 04:52:56 PM PDT

NEW YORK — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Read the rest of this entry »

InlandPolitics: This and That!

Edit

Tuesday, July 22, 2014 – 11:30 a.m.

Here’s some news flowing across the transom this Tuesday morning. In case you missed it!

Appeals court deals blow to Obamacare

The D.C. Circuit Court of Appeals has ruled subsidies paid under The Affordable Care Act in states where no exchanges exist are illegal. Meanwhile, within hours, a Virginia Circuit Court of Appeals ruled exactly the opposite.

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VVDailyPress: Economist sees full recovery in 15 months

John Husing

UNEMPLOYMENT
Region could make up all jobs lost in Great Recession by September 2015
SHEA JOHNSON
STAFF WRITER
Posted Jul. 22, 2014 @ 7:48 am / Updated at 7:53 AM

Even as the region lags behind the state, the economy in San Bernardino and Riverside counties is on track to fully recover all the jobs it lost during the Great Recession by September 2015, noted economist John Husing said Monday.

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InlandPolitics: This and That!

Edit

Monday, July 21, 2014 – 09:30 a.m.

Here’s some news flowing across the transom Monday morning. In case you missed it!

Jerry Brown for President?

We’ll start off with this morning’s humor.

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LATimes: Three NFL teams on a short lease: Might they respond to L.A.’s call?

NFL

By Sam Farmer
July 19, 2014

San Diego Chargers, St. Louis Rams and Oakland Raiders have stadium leases that could make move to L.A. viable

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unemployment

By Kevin Smith, San Gabriel Valley Tribune
Posted: 07/18/14, 6:13 PM PDT | Updated: 49 secs ago

California’s economic recovery hit a milestone last month as the state finally regained all of the jobs it lost in the Great Recession.

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CapitolWeekly: District by district, data tells the tale in California

California

By CONNOR GRUBAUGH
Posted 07.17.2014

While most indicators signal an economic upswing in California, the reality facing many residents of the Golden State is simple: On the ground, the recovery is still sluggish.

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