Entries
Faulconer Wants to Hasten Downtown Projects
Gov. Jerry Brown, aware that corporate welfare redevelopment projects subsidize the private sector by diverting money from schools, wants to eliminate state redevelopment agencies. So several cities are rushing to get proposed subsidized private sector projects on the books before …
Imprudence Not Unconstitutional, Says Appeals Court
An appeals court yesterday (Jan. 26) refused to overturn an Orange County law permitting sheriffs' deputies with 30 years of service to retire at age 50 with a pension amounting to 90% of their salaries. Orange County argued that its …
New York State Takes Over Finances of Wealthy Nassau County
This is a major shot across the bow. The New York State oversight board today (Jan. 26) seized control of Nassau County finances, as a story in the New York Times described in detail. Nassau County, on suburban Long Island, …
San Diego Home Values Beat the Field in November. But...
San Diego County home values rose 0.1% in November from October -- the only metro area among the top 20 to gain, according to the latest Standard & Poor's/Case-Shiller home price indices. San Diego's values rose 2.6% from a year …
Will Water Rate Increase Be Diverted to Pensions?
The water rate increase that passed city council by 6-2 yesterday (Jan. 24) may be a secret ploy to divert money to cover pension obligations, says Mike Aguirre, former city attorney. The City's most recent fiscal year ended in June …
Loan Modification Scamster Gets Five Years
Glenn Steven Rosofsky was sentenced today to 63 months in prison for his role in a loan modification scam, according to the U.S. attorney's office. He pleaded guilty to charges of wire fraud, money laundering, and filing false tax returns. …
Bridgepoint Says Government Softens Report; Stock Soars
Stock of Bridgepoint Education is up 5.92% to $18.25 this morning as the for-profit education company reported that Bridgepoint's Ashford University received a long-awaited report from the U.S. Department of Education's Office of Inspector General, which investigated the company for …
San Diego Gains Jobs, but Unemployment Rate Still above 10%
San Diego County employment rose by 1,800 jobs in December from November, but the unemployment rate remained in double digits. The December rate was 10.1%, down from 10.4% in November and 10.3% a year earlier, according to the Employment Development …
Congress Secretly Working on Way for States to Go Bankrupt
Policy makers in Washington DC are working behind the scenes to find a way to let states declare bankruptcy and get out of debts, including pensions promised to retired workers, according to a New York Times story that just went …
Qualcomm Named One of Fortune's 100 Best Employers
For the 13th straight year, Qualcomm is on Fortune Magazine's list of the 100 Best Companies to Work For. The list came out today (Jan. 20). Qualcomm is 33rd. Fortune notes that the company has 100% health care coverage, online …
Los Angeles to Fast-Track Downtown Stadium
According to stories in the Los Angeles Times and Orange County Register, Los Angeles city council wants to accelerate the downtown football stadium football stadium proposed by Anschutz Entertainment Group (AEG). The company keeps saying that the deal will be …
Goldsmith Appeals Suit He Ridiculed Aguirre for Filing
Early this month, the city attorney's office filed to appeal a cross-complaint in GIC841845 that had been filed by former City Attorney Mike Aguirre. The judge had ruled against Aguirre in 2006, and the case had sat in the judge's …
Vallejo's Bankruptcy Exit Plan Would Squeeze Creditors
On Tuesday, the City of Vallejo filed its plan to exit bankruptcy. The city northeast of San Francisco had filed for Chapter 9 in May of 2008 after unions rejected wage cuts. Under the plan, general unsecured creditors would collect …
Tiger Woods to Open 2011 Season at Torrey Pines
Tiger Woods announced today (Jan. 19) that he will open his 2011 season at the Farmers Insurance Open at Torrey Pines next week. He has won there the last five times he has played: the Buick Invitational in 2005, 2006, …
California Superstorm Could Cause 5 Times the Damage of Major Quake
Here's something to take your mind off California's massive fiscal deficit, as well as what might happen along the San Andreas Fault. As reported by Yahoo! news, more than 100 scientists and experts warn that California faces the possibility of …
Ike's Speech Warned of University Abuses, Too
On Jan. 17, 1961, fifty years ago, outgoing President Dwight Eisenhower gave his farewell address to the nation, now recognized as one of the most prescient speeches of all time. Astutely, he warned that, "In the councils of government, we …
New Yorker Magazine Scorches Darrell Issa
The Jan. 24 issue of the New Yorker probes San Diego County Congressmember Darrell Issa in a long piece. The article by Ryan Lizza covers some material earlier reported by other media. Issa has been named chairman of the House …
Er, Uh. FBI Building to be Constructed by La Costa Developer
Las Vegas's Molasky Group of Companies will construct a $100 million, four-story San Diego headquarters for the Federal Bureau of Investigation. Ironies abound. The Molasky Group of Companies was founded by Irwin Molasky and now run by his children. The …
Wall Street Traders Bring Home Far More Than Brain Surgeons
Some statistics graphically and poignantly tell what's wrong with a society -- like a fever thermometer registering 107 degrees. Bloomberg News has come out with such figures. An oil trader on Wall Street with ten years of experience is likely …
Brown's Redevelopment Proposal, If Passed, Could Whack Corporate Welfare
Gov. Jerry Brown today (Jan. 10), in revealing his budget, proposed major changes in redevelopment procedure that, if passed by the legislature, could take giant steps to eliminate abuses that have transformed laws meant to help the poor into a …