Archive for January 23rd, 2011

VVDailyPress: SCLA bonds downgraded, placed on negative watch

Rating agency questions airport’s ability to make debt payments
January 22, 2011 12:00 PM
Brooke Edwards

VICTORVILLE • Moody’s Investors Service has dropped the rating on $51 million in bonds for Southern California Logistics Airport, placing that debt plus another $40-million set on a watch list for possible further downgrades.

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VVDailyPress: Hesperia demands answers from Victorville

Regional redevelopment group steps up efforts to take control of SCLA
January 22, 2011 8:11 PM
Natasha Lindstrom and Brooke Edwards

VICTORVILLE • Members of a regional redevelopment agency are ramping up efforts to take control of Southern California Logistics Airport away from Victorville, with Hesperia demanding details on how its neighbor has been handling the agency’s $300 million in outstanding debt.

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10:00 PM PST on Saturday, January 22, 2011

The Press-Enterprise

Six months into his tenure as chief administrator of the newly minted city of Eastvale, interim City Manager Robert Van Nort said he will soon give council members a status report to help them decide on a timetable for hiring his permanent replacement.

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Wesley G. Hughes, Staff Writer
Posted: 01/22/2011 07:10:05 AM PST

A lawsuit filed in Los Angeles federal court by a national environmental group has the potential to shut down two major San Bernardino County projects.

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The Sun: City mulls shielding its funds

Redevelopment proposal drawing fire from critics
James Rufus Koren and Ryan Hagen, Staff Writers
Posted: 01/22/2011 09:57:47 PM PST

The California Redevelopment Association on Thursday asked its members – cities and counties with redevelopment agencies – not to do anything to give redevelopment a black eye as they look for ways to keep the state from taking redevelopment funds.

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On politics in the Golden State
January 22, 2011 | 3:09 pm

State Treasurer Bill Lockyer warned Saturday that California could face the unwelcome prospect of issuing IOUs in April or May if legislators and Gov. Jerry Brown do not act quickly to solve the state’s fiscal problems.

The severity of California’s yawning budget gap, estimated at $25.4 billion, is widely known. But Lockyer’s comments, at a conference at UC Berkeley, were the first to suggest that the state government is staring at a more immediate cash crisis that could require IOUs.

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By Dan Walters The Sacramento Bee
Published: Sunday, Jan. 23, 2011 – 12:00 am | Page 3A

Buried in Gov. Jerry Brown’s new state budget proposal – one aimed at closing chronic operating deficits – is a decision to suspend sales of state bonds, at least for six months, this coming spring.

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CNBC: Accounting Tweak Could Save Fed From Losses

Published: Friday, 21 Jan 2011 | 4:58 PM ET

Concerns that the Federal Reserve could suffer losses on its massive bond holdings may have driven the central bank to adopt a little-noticed accounting change with huge implications: it makes insolvency much less likely.

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