Archive for February 25th, 2011

InlandPolitics: Some Inland Republicans may cave on tax vote

Friday, February 25, 2011 – 4:00 p.m.

Well, it’s finally started.

The republican kabuki dance to sell out the people of California has began in earnest.

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InlandPolitics: Oil Prices: A Breather?


Friday, February 25, 2011 – 07:35 a.m.


The price of crude oil paused Friday morning hovering between $96 and $99 per barrel.


Growth slightly slower at year’s end than first thought; states cut spending more deeply

Jeannine Aversa, AP Economics Writer
On Friday February 25, 2011, 9:19 am EST

WASHINGTON (AP) — Deeper spending cuts by state and local governments weighed down U.S. economic growth in the final three months of last year. The government’s revised estimate for the October-December quarter illustrates how growing state budget crises could hold back the economic recovery.

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LATimes: Fourth-quarter economic growth revised downward

Money & Company
Tracking the market and economic trends that shape your finances.
February 25, 2011 | 6:18 am

Economic growth for the final three months of last year was revised downward to an annualized rate of 2.8% by government statisticians Friday, another indication of the struggling recovery from the recession as turmoil in the Middle East threatens further problems.

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Gov. Jerry Brown had pointed words for state lawmakers Thursday, as he testified before a budget committee at the state Capitol. (Rich Pedroncelli / Associated Press / February 24, 2011)

By Anthony York and Shane Goldmacher, Los Angeles Times
February 25, 2011

Reporting from Sacramento —

Gov. Jerry Brown said Thursday that he would hold out for a budget that cuts more than $25 billion from state services if voters and lawmakers do not approve more taxes.

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The PE: YUCAIPA: Supervisor Derry to conduct town hall




By PE News
on February 24, 2011 11:27 AM

San Bernardino County Supervisor Neil Derry will hold a town hall meeting 6:30 p.m. Tuesday, March 1, at Yucaipa City Hall.

Following a presentation on what’s going on at the county, Derry will open the floor to questions. No subject is off limits.

City Hall is located at 34272 Yucaipa Blvd.

DailyBulletin: Rocky roads ahead on tax extension ordeal

Staff and wire reports
Created: 02/24/2011 08:14:29 PM PST

The battle to get a tax extension on a June ballot is heating up in Sacramento.

Just a day after a majority of Republicans in the Legislature formed a “Taxpayers Caucus” – basically refusing to put the measure on the ballot – Gov. Jerry Brown on Thursday attempted to convince GOP lawmakers to leave it up to the voters.

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Rep. Mary Bono Mack at her press conference on her new role as Chairwoman of the House Subcommittee on Commerce, Manufacturing and Trade February 4, 2011. / Wade Byars, The Desert Sun

11:12 PM, Feb. 24, 2011 |
Written by PAUL C. BARTON
Desert Sun Washington Bureau

A man indicted on a charge of illegally funneling political contributions to two California legislative candidates also gave to past campaigns of Rep. Mary Bono Mack.

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DailyBulletin: Chino city attorney pleads not guilty to DUI

By Will Bigham Staff Writer
Created: 02/24/2011 08:13:30 PM PST

WEST COVINA – Chino City Attorney Jimmy Gutierrez pleaded not guilty this week to two misdemeanor drunken driving charges.

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VVDailyPress: Victorville’s public works director resigns



February 24, 2011 5:47 PM
Brooke Edwards

VICTORVILLE • Public Works Director Amer Jakher this week resigned from Victorville’s staff for a second time, as he prepares to take a similar position in another city.

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OC Watchdog ~ Your tax dollars at work
February 24th, 2011, 1:34 pm·
Posted by Tony Saavedra, Register investigative reporter

Two high-ranking officials at the Orange County Employees Retirement System have been placed on paid leave in connection with a $228 million mistake that has resulted in multi-million dollar pension catch-up bills for agencies countywide.

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Calpensions: New criticism of CalPERS: rate hike too small


By Ed Mendel
February 25, 2011

CalPERS bent the rules to avoid hitting state and local governments with a big rate increase after heavy losses in the stock market crash. Now it’s being criticized for passing some of the cost for today’s workers to future generations.

The president of a new group working on a pension reform initiative, Dan Pellisier, said in a newspaper article last week that a CalPERS decision to remain underfunded is a “Ponzi scheme” and “intergenerational theft,” legal but immoral.

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By Jon Ortiz
Published: Friday, Feb. 25, 2011 – 12:00 am | Page 1A

California’s state and local governments should roll back pensions for existing employees, dump guaranteed retirement payouts and put more of the burden for pension benefits on workers, a bipartisan watchdog commission said Thursday.

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By Dan Walters
Published: Friday, Feb. 25, 2011 – 12:00 am | Page 3A

Were Gov. Jerry Brown’s deficit workout plan to become reality, its spending cuts and additional revenues would probably bring the state budget into balance for at least a few years – but the fiscal picture then becomes much cloudier.

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A rendering of the Boeing NewGen Tanker. Boeing has said that its winning bid would mean about 4,500 jobs in California. (Boeing via EPA)

By W.J. Hennigan Los Angeles Times Staff Writer
February 24, 2011, 2:22 p.m.

Chicago-based Boeing Co. has won the $35-billion contract to build a fleet of aerial refueling tankers, possibly the culmination of a dramatic decade-long battle that the aerospace world has been following.

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LATimes: State to collect sales tax on medical marijuana



Money & Company
Tracking the market and economic trends that shape your finances.
February 24, 2011 | 1:17 pm

California’s tax collectors want their share of the burgeoning medical marijuana business.

The state Board of Equalization announced Thursday that medical marijuana dispensaries are not exempt from paying sales tax.

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