Entries
U.S. Jobs Rise Sharply but Unemployment Rate Up
Employment statistics announced by the federal government today (May 6) are a mixed bag, but they are initially pleasing Wall Street, as stock prices soar in early trading. However, it is not clear that the numbers will please Main Street. …
Vallejo to Emerge from Bankruptcy -- Bruised
According to a story in the May 4 Wall Street Journal, the city of Vallejo, which entered bankruptcy in 2008, should emerge by July. The city of 120,000 is 30 miles northeast of San Francisco. In the years leading up …
Bridgepoint Stock Leaps on Huge Profit Gain
Bridgepoint Education, the controversial for-profit education institution, enjoyed a stock gain of 8.1% to $19.87 today (May 3) as first quarter profits leaped 81% to 92 cents a share. Sales climbed 47% to $229.4 million. Earnings per share will be …
Impasse on Debt Ceiling Could Cost San Diego $15 Billion
Congress this month will debate the raising of the U.S. debt ceiling. If there is no agreement, the consequences for American finances could be devastating. But local effects could be deleterious, too. W. Erik Bruvold of the National University System …
U-T Sues Supplier for Touted "Daily Deal"
The Union-Tribune has been boasting of the success of its "Daily Deal" promotion, in which it touts steep discounts of 50% and more at businesses. Recently it wrote a purported news story bragging how a deal to give a 60% …
U-T, N.C. Times Report Circulation Figures Under New System
The Audit Bureau of Circulations (ABC) today (May 3) reported circulation figures for U.S. newspapers. However, ABC has changed its methodology and definitions, and recommends that current figures not be compared to previous numbers. Daily print (Monday-Friday) circulation of the …
U.S. Kills Osama bin Laden: Reports
Al Qaeda leader Osama bin Laden has been killed by the U.S. military and positively identified, according to multiple media reports at 8 p.m. West Coast time. He had been hiding out in Pakistan. President Obama is expected to go …
Ailing Callaway May Buy Conglomerate's Golf Business
Reuters is reporting that Carlsbad's Callaway Golf, which has just reported poor earnings and prospects, may join with Wall Street's Blackstone Group to buy the golf business of conglomerate Fortune Brands. Fortune announced late last year that it would sell …
State Bar Yanks License of Carlsbad's Michael Pines
Michael Pines, the Carlsbad lawyer who has advised clients to break into their homes after they have been foreclosed upon, and sometimes assisted them in the process, lost his license today (April 28) in a hearing before a State Bar …
Case-Shiller Home Data Dismal -- Even in San Diego
February home value data from Standard & Poor's/Case-Shiller strongly suggest a coming double-dip nationally. The composite of 20 major metro areas was down 3.3% from February of 2010. "San Diego, which had posted 15 consecutive months of positive annual rates, …
Judge Grants Injunction to End NFL Lockout. Victory for Players
According to the New York Times today (April 25), Minnesota federal judge Susan Richard Nelson granted players an injunction to lift the National Football League lockout by the owners. In Brady (quarterback Tom Brady) vs. NFL, the judge denied the …
Fire Department Compensation Far Higher than Private Sector's: Study
Councilmembers Carl DeMaio and Lorie Zapf today (April 21) released a study that purports to show that Fire Department compensation is far higher than comparable -- the key word is "comparable" -- jobs in the private sector. The two councilmembers …
Pessimism Worst in Two Years, Says Poll
The New York Times/CBS poll said today (April 21) that the nation's economic mood has sunk to its lowest in two years. A full 39% think the economy is getting worse -- 13% higher than a month ago. The percentage …
$1 Million Targeted for Homeless Will Be Diverted to L.A. Football Stadium
According to LA Weekly News, $1 million in federal block grants intended to help the Skid Row homeless in Los Angeles will go to subsidize the architect of the proposed new downtown football stadium. The big San Francisco-based architectural firm, …
Home Prices May Have Bottomed. But...
Radar Logic, which tracks national home values, notes that San Diego home prices rose 3% from January to February, but were down 4% compared with a year earlier. That was a better performance than most metro areas. The price per …
Qualcomm Reports Great Earnings, Helps Lift Market
San Diego-based Qualcomm reported smashing quarterly earnings today (April 20). So did Apple Computer. Qualcomm's chips are inside Apple's iPhone and more than half of all new smartphones based on Google's rival Android system, according to the Associated Press. Smartphones …
Major League Baseball Will Run Dodgers
Major League Baseball is taking control of the Los Angeles Dodgers, a once-solid team that is paralyzed by the extremely messy divorce of its owners. As ESPN.com points out, the Dodgers "have been consumed by infighting since Jamie McCourt filed …
Frye Gets Highest Grade on Environmental Voting
The League of Conservation Voters, San Diego, today (April 20) released its grades for councilmembers and the mayor for 2010. Former 6th District Councilmember Donna Frye got a perfect 100% score and an A+ grade -- the only councilmember to …
Some Copley Retirees May -- Repeat, MAY -- Get Refunds
In 2006, Copley Newspapers offered an early retirement package to a group of veteran employees. The company warned that if enough people didn't take the offer, there would be layoffs. A sufficient number took the deal. They got 25% of …
Gores Brothers Finalists in Bidding for Warner Music
Los Angeles entrepreneurs Alec and Tom Gores are reported this morning (April 18) to be among three final bidders for Warner Music Group. Tom Gores's Platinum Equity owns the Union-Tribune and recently bought the Detroit Pistons basketball team, along with …