Archive for the ‘ Investments ’ Category

Lou Desmond

Monday, July 27, 2015 – 04:30 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Tonight on the show, Jay Prag, estimable economist, joins the show. The Jay and Lou talk about the mayor of Murrieta’s sexual harassment accusations. Also, the mayor and city manager in San Bernardino can’t seem to get along.

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Citizens Business Bank

Citizens Business Bank’s Ontario-based parent company reports $26.8 million in net 2Q 2015 income, the 153rd consecutive quarter of profitability.

Published: July 23, 2015 – 2:36 p.m.

CVB Financial Corp., and its subsidiary Citizens Business Bank, reported $26.8 million in net income for the April-through-June quarter of 2015.

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

Calpers

Mary Childs and Alison Vekshin
July 14, 2015 -3:51 PM PDT

  • The $300 billion fund says it earned 2.4 percent in the last fiscal year, below its 7.5 percent target rate.

The chief investment officer of the biggest U.S. pension fund is most worried about low interest rates as the California Public Employees’ Retirement System struggles to earn enough money to pay beneficiaries.

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The Sacramento Bee: Opinion: Pensions fight gets new ammo

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 13, 2015

  • Ballot measure seeks to curb pension spending
  • Both sides gearing up for a big fight next year
  • Paltry earnings by CalPERS provide fuel

It’s likely that California voters will be treated – or subjected – next year to a vitriolic campaign over public employee pensions.

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calpers

By Dean Starkman
Monday, July 13, 2015

The California Public Employees’ Retirement System said it missed its return target by a wide margin, hurt by a sluggish global economy and an under-performing private equity portfolio.

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InlandPolitics: Greece, EU strike third bailout deal

Greece Bailout

Monday, July 13, 2015 – 08:40 a.m.

Greece and it’s European counterparts struck a deal for a third bailout of the beleaguered nation early Monday morning in Brussels.

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The San Diego Union Tribune: Edison sued over secret Poland talks

Michael Peevey

The Hotel Bristol Warsaw, where state regulators met with a utility executive.
Shareholder says company erred in not disclosing

By Morgan Lee | 6:13 p.m. July 9, 2015

A federal lawsuit filed this week accuses two top Edison International executives of harming shareholders by failing to disclose secret meetings with California regulators regarding a $4.7 billion settlement of costs for the failure of the San Onofre nuclear plant.

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Lou Desmond

Wednesday, July 8, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is coming to you from the Toyota of San Bernardino Recording Studios!

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Greece

Demonstrators hold flags and banners in front of Parliament in Athens in February. (Simela Pantzartzi/EPA)

By Ylan Q. Mui
July 5, 2015 at 2:55 PM

The financial crisis in Greece has upended the lives — and livelihoods — of residents of the Mediterranean nation. The shutdown of the banking system has resulted in long lines at ATMs to withdraw a daily maximum of just 60 euros, about $67. Citizens have stockpiled food and fuel, leading to empty shelves at grocery stores and crowded gas stations. Business leaders have warned that shortages of crucial medicines could be next.

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InlandPolitics: Greece says “NO” to European Union terms

Greece Flag

Sunday, July 5, 02:45 p.m.

Greece’s European Austerity Referendum went down in flames Sunday night.

The measure was overwhelmingly rejected by Greek voters.

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Standard and Poor's

By Chris Megerian
July 2, 2015

The Wall Street ratings agency Standard & Poor’s gave a vote of confidence to California’s finances on Thursday, upgrading its credit rating to its highest level in 14 years.

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InlandPoliics: Greece: What a headline for a newspaper!

Greece

Thursday July 2, 2015 – 10:30 a.m.

The headline in The Guardian, a British newspaper, is fitting.

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The Sacramento Bee: CalPERS to sell up to $3 billion in real estate

calpers

Business & Real Estate

By Dale Kasler
dkasler@sacbee.com
June 30, 2015

  • Pension fund continues to reshape portfolio
  • Goal is fewer speculative investments

CalPERS said Tuesday it plans to sell up to $3 billion worth of real estate as it continues to overhaul its investment portfolio.

Read the rest of this entry »

calpers

By Dean Starkman
June 25, 2015

  • CalPERS investment chief said fund returned only 3% over 10 months
  • The performance, which trails the broader stock market, has implications for city and state finances

The nation’s biggest public pension fund is falling far short of its annual investment goals.

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InlandPolitics: Greece default borders on comical

(Source: Bloomberg)

Monday, June 22, 2015 – 08:30 a.m.

Will the economically-tiny nation of Greece default?

Is it already too late?

If it does. Will the event ripple through the financial markets?

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Los Angeles Times: Gap closing 175 namesake stores in U.S.

GAP

San Francisco-based Gap is closing 175 of its namesake stores. (Gene J. Puskar / AP)

By Associated Press
June 15, 2016

Gap plans to close 175 of its namesake stores and 250 jobs at its headquarters as the company tries to strengthen the struggling brand.

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Wall Street

June 8, 2015 –  01:31 PM EDT
By Bernard Condon
AP Business Writer

NEW YORK (AP) — Those record profits that companies are reporting may not be all they’re cracked up to be.

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calpers

The nation’s largest pension fund is planning to slash the number of Wall Street firms its uses to manage its investments.

By Dean Starkman
June 8, 2015

The California Public Employees’ Retirement System plans to cut in half the number of Wall Street firms it pays to manage its $303 billion fund, an effort to cut down on high fees that drag down returns.

Read the rest of this entry »

Calstrs

Business & Real Estate

Teachers’ pension fund was pressured to dump holdings

By Dale Kasler
dkasler@sacbee.com
June 8, 2015

Ending a lengthy effort that had frustrated school teachers, CalSTRS has sold its investment in the firearms manufacturer linked to the 2012 massacre at a Connecticut elementary school.

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** FILE ** Susannah Fox, the main author of a study on internet spyware by the Pew Internet and American Life Project, is seen at the Pew Research Center in Washington in this July 6, 2005 file photo. In a recent survey, the Pew Internet and American Life Project found that adult Americans are broadly divided into three groups: 31 percent are elite technology users, 20 percent are moderate users and the remainder have little or no usage of the Internet or cell phones. (AP Photo/Lauren Victoria Burke, file)

Sunday, May 24, 2015 – 05:30 p.m.

The Pew Research Center has issued a not-so-pleasant report on the state of print media in the country.

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The Sun: San Bernardino plans huge reductions in bankruptcy plan

Bankruptcy Court

By Ryan Hagen, The Sun
Posted: 05/14/15, 4:49 PM PDT |

SAN BERNARDINO >> The proposed bankruptcy exit plan released to the public for the first time Thursday would pay 1 percent of the $50 million owed to pension obligation bondholders, slash retirees’ healthcare coverage, and contract out for services, including fire and waste disposal, among other changes.

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Digital First Media

By Bay Area News Group
Posted: 05/14/15 – 9:26 PM PDT |

Digital First Media, the company that operates the Los Angeles News Group and its digital and newspaper properties, has decided not to seek a sale of the entire company, saying it “is not in the best interest of shareholders at this time.’’

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InlandPolitics: With Fed stimulus gone, things look a little uncertain

Pricking Balloon

Saturday, April 4, 2015 – 10:30 a.m.

Remember last October, when the Federal Reserve ended the tapering down of its $85 billion a month bond-buying program?

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METRO

By Daniel Borenstein
Posted: 04/02/2015 – 08:27:25 AM PDT
Updated: 04/02/2015 – 09:38:48 AM PDT

Unless it alters its current funding structure, CalPERS will be even more vulnerable to market losses in the next economic downturn than it was during its devastating plunge in the Great Recession.

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InlandPolitics: Price tag for newspapers dwindles

The Sun

inland valley daily bulletin

Redlands Daily Facts

Friday, March 27, 2015 – 09:00 a.m.

The price tag for Digital First Media (DFM) is shrinking.

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San Bernardino Seal

Reuters

LOS ANGELES | By Tim Reid
Thu Mar 26, 2015 – 6:28pm EDT

(Reuters) – The bankrupt California city of San Bernardino revealed on Thursday details of its deal with the state’s public pension system Calpers, in which the retirement fund will be paid in full under the city’s bankruptcy exit plan.

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Reuters

Monday, Mar 23, 2015 – 5:57pm EDT

(Reuters) – The holdout creditor in Stockton, California’s bankruptcy case filed its opening brief in an appeal of the city’s reorganization plan on Monday, claiming “no bondholder has ever received so little in the history of municipal bankruptcy.”

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Lou Desmond

Friday, March 20, 2015

Tonight on the Lou Desmond & Company Show, Lou is joined by Ed Hoffman, president of Wholesale Capital Corporation, to discuss local news and financial news. First, missing San Bernardino Woman Sahray Barber is found safe near Los Angeles. She says she didn’t realize people were looking for her until she watched TV news last night.

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Reuters: Exclusive: San Bernardino has defaulted on $10 million in bond payments

File photo of cracked tarmac is seen in the parking lot of a largely abandoned shopping mall in San Bernardino

Cracked tarmac is seen in the parking lot of a largely abandoned shopping mall in San Bernardino, California in this January 23, 2015 file photo. (Reuters/Lucy Nicholson/Files)

By Tim Reid
Tue Mar 17, 2015 – 10:52pm EDT

Los Angeles —

(Reuters) – The southern California city of San Bernardino has defaulted on nearly $10 million in payments on its privately placed pension bond debt since it declared bankruptcy in 2012, according to documents seen by Reuters.

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Lou Desmond

Monday, February 23, 2015 – 05:00 p.m.

Today on The Lou Desmond & Company Show, economist Jay Prag and Financial Advisor Kraig Strom join Lou to discuss an array of topics.

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LATmes: Investors snap up luxury hotels amid rising occupancy and room rates

Montage Resort
Luxury hotels such as the Montage Laguna Beach that endured the downturn are now thriving, making them appealing targets for investors. The resort sold last month. (Allen J. Schaben / Los Angeles Times)

By Roger Vincent
February 15, 2015

Pampered guests at the five-star Montage Laguna Beach resort can swim in a lap pool overlooking the Pacific, dine on caviar and sleep on goose-down pillows to a lullaby of crashing waves.

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Calpensions: Pension shareholder clout reshapes corporations

Corporate Governance

By Ed Mendel
February 2, 2015

A bitter breakup of a well-known Ohio company, Timken, approved by shareholders in a battle led by CalSTRS and one of its investment funds, Relational, has become a case study as activist shareholders try to squeeze more profit from companies.

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AP: Record iPhone Sales Drive Blowout Quarter for Apple

Apple Inc.

SAN FRANCISCO — Jan 27, 2015, 5:56 PM ET
By BRANDON BAILEY AP Technology Writer
Associated Press

Apple had another blowout quarter thanks to its new plus-sized iPhones, which helped the company smash sales records for the holiday season.

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InlandPolitics: Private Equity looking at parent of Inland newspapers

The Sun

inland valley daily bulletin

Redlands Daily Facts

Related Posts: InlandPolitics: Newspaper decline continues

Tuesday, January 27, 2015 – 09:30 a.m.

Bloomberg is reporting that two private equity firms are taking a close look at a possible buyout of the parent company of The Sun, Inland Valley Daily Bulletin and Redlands Daily Facts newspapers.

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SacBee: Judge rejects bid to keep Stockton in bankruptcy

US Bankruptcy Court

By Dale Kasler
dkasler@sacbee.com
01/20/2015 8:58 PM

A bankruptcy judge Tuesday dismissed an effort to keep Stockton mired in bankruptcy while a creditor challenges a decision that lets the city pay its CalPERS pension bills in full.

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VVDailyPress: Depositions nearing in Victorville’s SEC case

Victorville

Long list of former, current officials expected to be called

SHEA JOHNSON
STAFF WRITER
Posted Jan. 7, 2015 @ 8:34 pm
Updated at 8:37 PM

VICTORVILLE — Depositions are expected to get underway next week, nearly two years after the Securities and Exchange Commission accused the city of Victorville, its airport authority and others of dramatically inflating the combined valuation of four airport hangars in a 2008 municipal bond offering.

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InlandPolitics: Crude Oil continues plunge

Oil Collapse

Monday, January 5, 2015 – 10:30 a.m.

Crude Oil prices plunged again on Monday morning due to an ever increasing oversupply.

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LATimes: Overseas problems won’t derail growing U.S. economy, analysts say

NYSE
Traders work on the floor of the New York Stock Exchange on the first trading day of 2015. (Andrew Burton / Getty Images)

By Dean Starkman
January 2, 2015

NEW YORK — Call it the Great Divide: The new year figures to be one of robust economic growth in the U.S., with slowdowns, stagnation and setbacks everywhere else in the world.

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

Prime Healthcare Services

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

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

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Reuters: Billions wiped off energy shares as investors rush for exit

NYSE Floor Trader

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

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

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

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

calpers

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

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

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InlandPolitics: Victorville SEC case has murky undercurrent

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

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

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

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DailyBulletin: Stifel emerges as the largest public finance group in California

Stifel Financial

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

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

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

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

Gavel

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

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

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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: CalPERS earnings no longer last among big funds

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.

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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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LATimes: CalPERS picks Ted Eliopoulos to be investment chief

calpers

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

By Marc Lifsher
September 16, 2014

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

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LATimes: CalPERS decides hedge funds are a sell

Photo: CalPERS board

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

By Marc Lifsher
September 15, 2104

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

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SacBee: CalPERS cleared to sue ratings agencies

California Supreme Court

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

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

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LATimes: Longtime trustee of Pimco mutual funds appears to have lost his job

PIMCO

By E. Scott Reckard
September 2, 2014

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

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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.

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SacBee: California pensions, consumers get $800 million from Bank of America case

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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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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LATimes: Warren Buffett’s Berkshire Hathaway stock tops $200,000 a share

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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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 »

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.

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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 »

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 »

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.

Read the rest of this entry »

LATimes: With Citigroup paying up, will feds’ attention now turn to BofA?

bank-of-america

By E. Scott Reckard and Jim Puzzanghera
July 14, 2014

With Citigroup Inc. agreeing to pay $7 billion for issuing toxic mortgage securities, the Justice Department now turns to settling its case against what analysts call the biggest mortgage miscreant of all: Bank of America Corp.

Read the rest of this entry »

Apple Hosts Its Worldwide Developers Conference

Apple CEO Tim Cook walks off stage after the keynote at the company’s Worldwide Developer Conference, when it unveiled a new programming language called Swift. (Justin Sullivan/Getty)

By Cade Metz
07.14.14 | 6:30 am

Chris Lattner spent a year and a half creating a new programming language—a new way of designing, building, and running computer software—and he didn’t mention it to anyone, not even his closest friends and colleagues.

Read the rest of this entry »

CCTimes (AP): Former CalPERS CEO pleads guilty to bribery, fraud

calpers

By Paul Elias, Associated Press
Posted: 07/11/2014 12:10:10 PM PDT
Updated: 07/11/2014 03:46:48 PM PDT

SAN FRANCISCO — The former head of the nation’s largest pension fund admitted Friday that he took bribes, including hundreds of thousands of dollars stuffed in paper bags and a shoe box, and helped an associate collect millions in a fraudulent investment scheme.

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SacBee: Moody’s raises California’s bond credit rating

Moody's Ratings

Capitol Alert
The latest on California politics and government
June 25, 2014

Moody’s Investors Service, one of the nation’s largest credit rating organizations, upgraded its rating of California’s $86 billion in general obligation debt Wednesday, citing the state’s “rapidly improving financial position.”

Read the rest of this entry »

InlandPolitics: This and That!

Edit

Wednesday, June 25, 2014 – 09:45 a.m.

Here’s some news flowing across the transom Wednesday, in case you missed it.

First-Quarter GDP goes in the tank

First-Quarter Gross Domestic Product (GDP), the output of all goods and services produced, contracted more than first reported.

Read the rest of this entry »

Private Equity

By Mark Glover
mglover@sacbee.com
Published: Tuesday, Jun. 24, 2014 – 11:48 am

California led all states in the number of companies with private equity investments in 2013, but it was far behind Texas in total dollars invested, according to the Washington, D.C.-based Private Equity Growth Capital Council.

Read the rest of this entry »

InlandPolitics: Is there a new investor bubble?

question-mark

Tuesday, June 17, 2014 – 11:00 a.m.
Last Modified: Wednesday, June 18, 2014 – 12:30 a.m.

One has to wonder what’s coming down the road for the economy. There’s no debate that the Federal Reserve was responsible for the Internet and real estate bubbles, of the past.

The big question here is how big is the new Federal Reserve-driven stock and real estate bubble?

Read the rest of this entry »

Calpensions: Stockton bankruptcy judge may issue two rulings

Gavel-Legal

By Ed Mendel
Monday, June 9, 2014

Stockton filed a revised debt-cutting plan last week that could lead to a deal with a holdout creditor, Franklin bonds, possibly enabling the city to emerge from bankruptcy without cutting pensions.

Read the rest of this entry »

VVDailyPress: SEC amends fraud complaint

Victorville

Attorneys must answer or ask to dismiss by June 5
May 27, 2014 5:46 PM
SHEA JOHNSON, STAFF WRITER

VICTORVILLE • The Securities and Exchange Commission recently amended its complaint alleging fraud in a 2008 municipal bond offering against the city, Assistant City Manager Keith Metzler and others. The SEC had to do so to comply with a federal judge’s order to show proof of earlier dismissed claims that the city and Metzler were also benefactors of ill-gotten gains.

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calpers

By Dale Kasler
dkasler@sacbee.com
Published: Tuesday, May. 27, 2014 – 11:02 am

CalPERS has defeated a bid by Wall Street’s leading credit ratings agencies to toss out the pension fund’s lawsuit over a $1 billion investment loss.

Read the rest of this entry »

InlandPolitics: Is the economy as strong as people think?

Economy

Sunday, April 20, 2014 – 10:00 a.m.

Much effort is being put into making Americans believe the economy is building strength.

The assertion is prominent within government circles.

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LATimes: Venture capital funding soars to levels last seen in dot-com bubble

Venture Capital

Investors pour $9.5 billion into U.S. start-ups during the first quarter of 2014, the biggest amount since the second three months of 2001, when the so-called dot-com boom was gasping.

By Chris O’Brien
April 18, 2014, 7:01 p.m.

SAN FRANCISCO — With venture capital funding reaching levels not seen since the days of the dot-com bubble, analysts say the question of whether the tech boom in Silicon Valley is on the verge of sputtering is getting harder to dismiss.

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WSJ: OpEd: Mark Cuban and Thomas Melsheimer: How the Feds Rig Their Prosecutions

Mark Cuban

In the Mark Cuban case, the SEC refused to turn over exculpatory evidence to the defense for three years.

Opinion

By Mark Cuban and Thomas Melsheimer
April 3, 2014 6:36 p.m. ET

On March 21, 2014, Securities and Exchange Commission Chairwoman Mary Jo White was once again quoted praising her agency as “a strong and focused cop on the beat” that promotes fairness and accountability in the markets. The SEC often opens its trials by telling juries that every investor has to play by the same set of rules. But the agency won’t play by a rule that’s fundamental to due process. It’s called the Brady rule, and it keeps the government honest when it takes people or companies to court.

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LATimes: Investment firms curbing their home buying in California

Home-Sales-R

Among the 20 firms buying the most California real estate since January 2012, purchases are down more than 70% compared with last year in each of the last four months.

By Tim Logan
March 29, 2014, 5:00 a.m.

This time last year, investment firms raced to buy dozens of single-family homes in neighborhoods from Fontana to South Los Angeles to lease them out, transforming the mom-and-pop rental business into a Wall Street juggernaut.

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InlandPolitics: Stater Bros. sales, earnings increase in 4th quarter

stater Bros

Sunday, March 9, 2014 – 10:00 a.m.

Stater Bros. Holdings, an economic barometer for the Inland Empire and Southern California, posted solid numbers in the last quarter of 2013.

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The Sun: Comcast, Time Warner Cable deal raises concerns

Comcast

FILE – This Feb. 11, 2011 file photo shows the Comcast logo on one of the company’s vehicles, in Pittsburgh. Comcast has agreed to buy Time Warner Cable for $45.2 billion in stock, or $158.82 per share, in a deal that would combine the top two cable TV companies in the nation, according to a person familiar with the matter who spoke on condition of anonymity because it had not been announced formally. An announcement is set for Thursday morning, Feb. 13, 2014, the person said. (AP Photo/Gene J. Puskar, File)

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 02/13/14, 9:19 PM PST | Updated: 10 hrs ago

The $45.2 billion merger of Comcast Corp. and Time Warner Cable, the nation’s two biggest cable providers, will likely draw an intense review from federal regulators, while TWC customers could see new technology and improved service, officials said Thursday..

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LATimes: ETF that models billionaires’ investments to launch in spring

Carl Icahn

The IBillionaire index tracks investments of many billionaires, including Carl Icahn. (Mark Lennihan / Associated Press / February 4, 2014)

By Stuart Pfeifer
February 4, 2014, 9:22 a.m.

IBillionaire Inc., a company that models investments of the world’s wealthiest people, plans to offer an exchange traded fund this spring that will allow the public to “invest like a billionaire,” its top executive said Tuesday.

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LATimes: Pressure builds for Apple to overhaul or expand product portfolio

Apple Inc.

With Apple saying its revenue could drop this fiscal year, analysts increasingly believe the tech giant must shake up its product lineup to boost growth.

By Chris O’Brien
January 28, 2014, 6:27 p.m.

Apple iTV? The iWatch? Bigger iPhones and iPads?

Rumormongering about such mythical products is a regular spectator sport for many Apple watchers.

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OCRegister: Pension board for public employees takes $450 million risk

OCERS

Orange County Public Employees Retirement System officials are hoping that a loan to little-known companies with poor credit ratings will supercharge the pension fund’s earnings.

BY MIKE REICHER / STAFF WRITER
Published: Jan. 23, 2014 Updated: Jan. 24, 2014 7:57 a.m.

In the past year, the Orange County Public Employees Retirement System board has agreed to loan $450 million to companies in the U.S., Europe and the Asia-Pacific region, mostly little-known companies with poor credit ratings that need cash.

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LATimes: Pimco’s El-Erian resigns

PIMCO

Global investment management firm Pimco announced Tuesday that its chief executive, Mohamed A. El-Erian, will be leaving the firm in mid-March.

Bloomberg News
January 21, 2014, 1:37 p.m.

Mohamed El-Erian resigned as head of bond-fund manager Pacific Investment Management Co. and will be replaced by Douglas Hodge.

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SacBee: CalSTRS reports 19.1 percent investment gain

calstrs

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Jan. 16, 2014 – 6:42 pm

CalSTRS said Thursday it earned a hefty 19.1 percent return on its investments in 2013 but repeated its plea for funding assistance from the Legislature.

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LATmes: Bond-rating agencies see California finances on upswing

WALL STREET BONUS

Two Wall Street ratings agencies have praised California Gov. Jerry Brown’s latest budget proposal. Above, the Wall Street bull. (Robert Caplin / Bloomberg News / August 16, 2006)

By Chris Megerian
January 14, 2014, 12:39 p.m.

SACRAMENTO — Two Wall Street bond-rating agencies gave Gov. Jerry Brown’s budget proposal a clean bill of health on Tuesday, saying it would further California’s fiscal recovery.

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SacBee: California once again the nation’s top municipal bond issuer

Municipal Bonds

Capitol Alert
The latest on California politics and government
December 27, 2013

A multi-billion-dollar surge of bond issues by state and local governments is making California, once again, the nation’s top issuer of municipal debt, the Bloomberg financial news service calculates.

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Reuters: Zuckerberg to sell Facebook shares worth about $2.3 billion

Facebook

Thu Dec 19, 2013 12:07pm GMT

(Reuters) – Facebook Inc founder and CEO Mark Zuckerberg will sell 41.4 million shares worth about $2.3 billion to pay a tax bill, as part of an offering by the social network of 70 million Class A common shares.

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VVDailyPress: Judge refuses to dismiss claims against VV in SEC case

Victorville

November 19, 2013 11:03 AM
Shea Johnson, Staff Writer

Arguments made to dismiss SEC case in U.S. District Court

LOS ANGELES • The Securities and Exchange Commission’s case will move forward against Victorville city officials accused of defrauding investors in a 2008 municipal bond offering, although a judge said there isn’t any proof right now that they made improper money from it.

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