Entries
Roski Catching Flak for Political Gifts
Money talks, but why must it nauseate? In October, Governor Arnold Schwarzenegger signed a bill clearing away legal and environmental barriers to the $800 million stadium that Los Angeles developer Ed Roski Jr. wants to build in the City of …
Luna, Constantin Generated Controversy in San Jose
The San Jose Mercury News on Jan. 31 reviewed the local controversies that led to Eduardo Luna and Chris Constantin winding up with juicy jobs with the City of San Diego. Luna was named San Diego internal auditor in 2007. …
SEC Cocks an Eyebrow at Bobby Vassallo Again
The Securities and Exchange Commission will be examining Alfred Louis "Bobby" Vassallo again. In August of 2005, the commission entered a final judgment against Vassallo, enjoining him from committing further securities fraud. He had been peddling shares of a dubious …
League Cites Establishment in Bid for Longer "Strong Mayor" Trial Period
The League of Women Voters will use arguments once advanced by quintessential establishment members when it asks the city council's rules committee this morning (Feb. 3) to extend the trial period on the so-called "strong mayor" concept. The corporate welfare …
Will Leap Leap into Arms of Rejected Suitor?
Wall Street is abuzz with rumors that Leap Wireless may go to the altar with MetroPCS Communications, a suitor it rejected a few years ago. The Wall Street Journal reports that Leap has hired Goldman Sachs to help the company …
Qualcomm Lowers Forecast; Stock Plunges 9%
Stock of San Diego telecom superstar Qualcomm is down 8.98% in after-hours trading this afternoon (Jan. 27). After today's market close, the company lowered its estimates for the year. Earlier, it had expected sales of $10.5 billion to $11.3 billion …
Copley Sold U-T at Bottom, Whether or Not iPad Rescues Newspapers
Most daily newspaper stocks are up sharply this morning (Jan. 27), partly because the unveiling of Apple's new iPad has uplifted spirits of those in the daily newspaper business. In fact, Apple's Steve Jobs demonstrated how one can read the …
Enron Revisited: City Pension Fund in No Better Shape
It was almost exactly six years ago that the City of San Diego was forced to admit that it had been cooking the books since 1996, and that unless it raised taxes or cut worker benefits, it would have to …
Seven Straight Home Price Gains for San Diego
San Diego County home values were up for the seventh straight month in the November 2009 Case-Shiller/Standard &Poor's data, released this morning (Jan. 26). Local home values rose 0.4% from October to November, the same as the September/October rise. Prices …
Obama Wants to Freeze Spending; Wall Street Horrified
Media are reporting that President Obama will call for a three-year freeze in spending on many domestic initiatives. After that period, he will want such spending to rise no faster than inflation. Predictably, Wall Street is aghast, because much of …
December Unemployment 10.1%
San Diego County unemployment was 10.1% in December, down from a revised 10.6% in November. However, the county lost 1,600 jobs in the month, and 43,000 from a year earlier, when the rate was 7.5%. During the December period, the …
Wisely Listening to Volcker, Obama Proposes Restrictions on Banks
Finally showing some backbone and taking advice from former Federal Reserve Chairman Paul Volcker, President Obama today (Jan. 21) proposed restriction on large banks' abusive practices. Obama's proposal would prohibit commercial banks from owning or investing in hedge funds or …
Pension Costs Reach 69% of City Payroll, Says DeMaio
Councilmember Carl DeMaio says that the City's annual pension payments have zoomed to more than $231 million or an astounding 42% of City payroll. "When factoring in the cost of all city retirement benefits, taxpayers are servicing a cost of …
Parent of Denver Post Files Bankruptcy
Another newspaper chain is headed for Chapter 11 bankruptcy. Affiliated Media, holding company for MediaNews Group, plans to file for a prepackaged Chapter 11 bankruptcy. The company is controlled by William Dean Singleton. Despite the company's ailing finances, there were …
Is That La China Seeking a Lover Online?
Richard La China, the San Diegan who was called "a serial Ponzi schemer and career impostor" in a civil lawsuit, then went into Chapter 7 bankruptcy, may well be a young man seeking a mate on Match.com. The Reader did …
Americana from Copley Library Will Be Auctioned in New York
The New York Times today (Jan. 16) relates how items from La Jolla's now-for-sale James S. Copley Library, 1134 Kline Street, will be on display at Sotheby's in New York City until next Saturday. Beginning April 2011, there will be …
U-T Cites Improvement, May Hire 25 Part-Timers
The new Union-Tribune management on Thursday told staff members that circulation and advertising are rising. (Some other metro dailies are reporting modest improvement in those measures, but analysts are not convinced the mild upturn will last. In any case, the …
League of Women Voters Protests Treatment by Council Committee
The city council's rules committee, meekly compliant to the mayor and his establishment puppeteers, on Wednesday (Jan. 13) ignored a proposal by the League of Women Voters to extend the trial period for strong mayor concept, rather than ask the …
Ex-Lerach Law Firm Criticized for Role in Inquiry Commission
The Wall Street Journal of today (Jan. 13) states that some business interests are criticizing the role of San Diego law firm Coughlin Stoia Geller Rudman & Robbins in the Financial Crisis Inquiry Commission. Byron Georgiou, who is "of counsel" …
USD's Partnoy Asks Panel Why FBI Mortgage Warning Ignored
University of San Diego law Professor Frank Partnoy testified before the Financial Crisis Inquiry Commission yesterday (Jan. 12) as it kicked off its probe into causes of the financial meltdown that led to the Great Recession. Along with former New …