Archive for July 21st, 2012

InlandPolitics: S.B. County pension fund earns 0.75% in latest fiscal year

Friday, July 20, 2012 – 08:00 p.m.

The weak investment climate has stung another California public employee pension fund.

Sources say the pension system for San Bernardino County, California earned an estimated 0.75% in its latest fiscal year ending June 30, 2012.

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Friday, July 20, 2012 – 10:30 a.m.

San Bernardino County has apparently struck a deal with its public safety union.

The agreement with the San Bernardino County Safety Employees Benefit Association (SEBA) appears to be a major win for the union.

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Andrew Edwards, Staff Writer
Posted: 07/20/2012 07:58:22 PM PDT

SAN BERNARDINO – The city’s slide toward bankruptcy is creating new worries for business owners who are wondering when – or if – they will be paid for work performed for either the city or its defunct redevelopment agency.

The City Council voted Wednesday evening to declare a state of fiscal emergency and to seek Chapter 9 bankruptcy protection.

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Published: 20 July 2012 07:26 PM

It’s been a grim couple of weeks for San Bernardino as city officials decided to declare a fiscal emergency and file for bankruptcy due to a cash-flow crisis and budget deficit. Still, even amid serious discussions, the council found a few moments to debate 19th Century military history at its July 10 meeting.

Echoing a phrase used by one public speaker, Councilman Fred Shorett suggested that this could be a “Waterloo opportunity” allowing the city to get its financial house in order.

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Sandra Emerson, Staff Writer
Created: 07/20/2012 05:19:43 PM PDT

The Inland Empire’s jobless rate rose nearly one full percentage point in June but economists say it was because more people entering the work force rather than there being more unemployed.

The San Bernardino and Riverside counties saw a jump in unemployment from 11.8 percent in May to 12.6 in June, which could be a sign of people starting the job search following the end of the school year, said Johannes Moenius, an economist with the University of Redlands.

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SacBee: Hidden California state parks funds spark outrage

By Matt Weiser and Kevin Yamamura
Published: Saturday, Jul. 21, 2012 – 12:00 am | Page 1A
Last Modified: Saturday, Jul. 21, 2012 – 12:23 am

California state parks Director Ruth Coleman resigned and her second-in-command was fired Friday after officials discovered the department has been sitting on “hidden assets” totalling nearly $54 million.

The money accumulated over 12 years in two special funds the department uses to collect revenue and pay for operations: $20.4 million in the Parks and Recreation Fund, and $33.5 million in the Off Highway Vehicle Trust Fund.

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LATimes: California gains jobs, led by trade and tourism

The state’s 2% job market growth outpaces the national rate, with improvement in tech firms, tourism and even the battered construction industry.


By Ricardo Lopez, Los Angeles Times
July 21, 2012

While the nation’s job engine sputters, California’s is revving up, thanks to another month of solid employment growth with international trade and tourism leading the way.

Employers statewide added 38,300 net new jobs in June with gains in most industries, including construction and professional services, according to a report Friday by the state Employment Development Department.

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