Sunday, November 30, 2008

Walnut Creek mayor to depart after 21 years on council

The giant hole in the ground Gwen Regalia can see from her City Hall office window is what the Walnut Creek mayor was waiting for.

The hole, which will transform into the home of the new library, is how she knows after 21 years of service it's time to step down.

"You know, I said after the last election that I would leave after we had the library. Well, we are getting the library," Regalia said.

Now under construction, the library should open in 2010.

A tale of two Peratas

For Don Perata, it truly has been the best of times and the worst of times.

The Oakland lawmaker's four years as state Senate president pro tem, arguably California's most powerful elected Democrat, showed much of the ambition that had fueled the one-time schoolteacher's climb from the Alameda County Board of Supervisors to the Assembly to the Senate.

Now, term-limited out of office, he'll leave the Capitol for a consulting stint and perhaps a run for Oakland mayor in 2010. In retrospect, his pro tem tenure yields moments that made him and his supporters either stand up and cheer or cringe and wince.

Dominoes fall as lawmakers prepare to take office for next session

SACRAMENTO — If there's one upgrade Senator-elect Mark DeSaulnier is looking forward to, it's the daylight he will have in his new office.

DeSaulnier, a Concord Democrat elected to the Senate after two years with a windowless Assembly office, will finally have a view of the outdoors as he moves to the upper chamber.

"There are no cavelike offices in the Senate, even for Republicans," said DeSaulnier, who essentially switched seats with term-limited Tom Torlakson, who returns to the Assembly for one final two-year term. "I like natural light."

Saturday, November 29, 2008

Dominoes fall as lawmakers prepare to take office for next session

SACRAMENTO — If there's one upgrade Senator-elect Mark DeSaulnier is looking forward to, it's the daylight he will have in his new office.

DeSaulnier, a Concord Democrat elected to the Senate after two years with a windowless Assembly office, will finally have a view of the outdoors as he moves to the upper chamber.

"There are no cavelike offices in the Senate, even for Republicans," said DeSaulnier, who essentially switched seats with term-limited Tom Torlakson, who returns to the Assembly for one final two-year term. "I like natural light."

Dominoes fall as lawmakers prepare to take office for next session

SACRAMENTO — If there's one upgrade Senator-elect Mark DeSaulnier is looking forward to, it's the daylight he will have in his new office.

DeSaulnier, a Concord Democrat elected to the Senate after two years with a windowless Assembly office, will finally have a view of the outdoors as he moves to the upper chamber.

"There are no cavelike offices in the Senate, even for Republicans," said DeSaulnier, who essentially switched seats with term-limited Tom Torlakson, who returns to the Assembly for one final two-year term. "I like natural light."

Dominoes fall as lawmakers prepare to take office for next session

SACRAMENTO — If there's one upgrade Senator-elect Mark DeSaulnier is looking forward to, it's the daylight he will have in his new office.

DeSaulnier, a Concord Democrat elected to the Senate after two years with a windowless Assembly office, will finally have a view of the outdoors as he moves to the upper chamber.

"There are no cavelike offices in the Senate, even for Republicans," said DeSaulnier, who essentially switched seats with term-limited Tom Torlakson, who returns to the Assembly for one final two-year term. "I like natural light."

Thursday, November 27, 2008

Barbara Lee to head Congressional Black Caucus

Rep. Barbara Lee, D-Oakland, was announced as chairwoman-elect of the Congressional Black Caucus at a Capitol Hill news conference Wednesday.

She takes the 42-member caucus' reins as its power seems ascendant. Members will lead the House Judiciary, Homeland Security and Ways and Means committees in the 111th Congress; another, Rep. James Clyburn, D-S.C., will be the majority whip; and all of them will work in tandem with the nation's first black president, Barack Obama, of whom Lee was an early and ardent supporter.

Market bad for the can, bad for the bottle

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

Obama brand has local roots

A liberal think tank helping to shape the incoming Obama administration's personnel and policy owes its existence in part to a pair of East Bay billionaire banking moguls.

Herb and Marion Sandler made their fortune by building Oakland-based Golden West Financial Corp. — parent company of World Savings Bank — into one of the nation's largest savings and loans, before selling it to Wachovia Bank two years ago for $24.2 billion.

Wednesday, November 26, 2008

Recycled materials market chaos spurs talk of easing restrictions

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

Recycled materials market chaos spurs talk of easing restrictions

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

Recycled materials market chaos spurs talk of easing restrictions

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

Recycled materials market chaos spurs talk of easing restrictions

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

Recycled materials market chaos spurs talk of easing restrictions

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

Recycled materials market chaos spurs talk of easing restrictions

State and local waste diversion agencies are trying to calm the jittery waste industry before it starts sending aluminum cans and glass bottles to landfills because the economic crisis has rocked recycling profits.

An emergency workshop in Sacramento on Dec. 10 will focus on ways to maintain a once-thriving recycling industry that suffered a precipitous profit drop largely due to a Chinese market meltdown.

If demand for recycled metals, glass and paper does not improve, some believe haulers may ask the state for a reprieve from Assembly Bill 939 — the landmark 1999 state law requiring jurisdictions keep at least half of their waste out of landfills.

NRI Home Loans- Best Option for NRIs

Are you residing abroad and thinking of investing in a residential property in India then NRI home loans are the best option for you. Usually NRIs are doubtful whether they can invest in a residential property in India or not. They are not aware if they can dispatch funds from abroad under the current foreign exchange regulations to make any such purchase in India.NRI can easily buy any immovable property in India through a number of options. But again the question arises that if an NRI want to invest here and he does not have sufficient funds then what should he do? Under such circumstances an NRI has a ready-made option of NRI home loans in India.

Tuesday, November 25, 2008

Medical marijuana advocates sue DMV

This is a sampling of political writer Josh Richman's blog, The Political Blotter. Read more and post comments at www.ibabuzz.com/politics.

Nov. 19

Oakland-based Americans for Safe Access, a medical marijuana advocacy group, sued the California Department of Motor Vehicles today on behalf of Rose Johnson, 53, of Atwater. The Merced County Superior Court lawsuit claims that despite Johnson's clean driving record — not having caused an accident in 37 years of driving — the DMV refused to renew her license in July after finding she's a medical-marijuana user and deeming that she had an "addiction to, or habitual use of, [a] drug" that renders her unable to safely operate a car.

Clayton leaders leaning toward allowing four garage sales or produce stands a year for nine hours

CLAYTON — Now that the media firestorm over their produce stand and the mayor who shut them down has blown over, 11-year-old Katie Lewis is entertaining an offer to sell her homegrown fruit and veggies at the Clayton Farmers' Market.

"I miss it," Katie said. "It was fun to come home from school and then go into the front yard and sell. Now, I just come home and do homework."

But she said the Clayton Business and Community Association has offered to pay for her and her sister, 3-year-old Sabrina, to host a table at the Clayton Farmers' Market and sell their wares. She said it sounds like a good idea.

Monday, November 24, 2008

Prop. 8 enters legal long haul

The California Supreme Court agreed Wednesday to review whether Proposition 8, the constitutional ban on same-sex marriage approved by 52 percent of voters two weeks ago, can stand.

The court refused to delay the ban's effect while it considers whether the initiative was a revision of, rather than an amendment to, the state constitution.

Proponents of Proposition 8 say it was an amendment — a narrow, specific change requiring only petition signatures to qualify for the ballot. Its opponents say it was a revision — a more substantial change to the constitution as a whole, which should have required two-thirds votes of both Legislative chambers before being put to voters. Both sides had urged the court to review the matter.

Prop. 8 enters legal long haul

The California Supreme Court agreed Wednesday to review whether Proposition 8, the constitutional ban on same-sex marriage approved by 52 percent of voters two weeks ago, can stand.

The court refused to delay the ban's effect while it considers whether the initiative was a revision of, rather than an amendment to, the state constitution.

Proponents of Proposition 8 say it was an amendment — a narrow, specific change requiring only petition signatures to qualify for the ballot. Its opponents say it was a revision — a more substantial change to the constitution as a whole, which should have required two-thirds votes of both Legislative chambers before being put to voters. Both sides had urged the court to review the matter.

Friday, November 21, 2008

Assemblywoman-elect Joan Buchanan's school board replacement will be chosen by trustees

SAN RAMON VALLEY — When Joan Buchanan heads off for the state Assembly, the San Ramon Valley school board will pick her replacement rather than hold an election.

Buchanan, a school board member since 1990, is resigning after winning the state Assembly District 15 race in the Nov. 4 election.

She has served half her current four-year term on the school board, and was last elected in 2006 along with running mates Rachel Hurd and fellow incumbent Bill Clarkson in a four-candidate race for three seats on the five-member board. Her replacement would serve the remaining two years.

Contra Costa proposes eliminating foster, adoption programs

After Daisy Gery turned 2, her foster mother had no luck finding her an adoptive family. The infant's medical ailments scared off Contra Costa couples.

After surviving a 13-week premature and drug-exposed birth, little Daisy seemed destined for a group home or institution.

"She would be bounced around and aged out," Kris Gery said. "That was just not appropriate for my baby."

Gery, 51 at the time, adopted Daisy, putting her confidence in a tight-knit Contra Costa network of foster and adoptive parents and services. State budget cuts have endangered those county programs, along with almost 70 full-time positions, as the county must cut $34 million from the Employment and Human Services Department. These cuts are separate from new reductions that likely will result from the $28 billion deficit the state next plans to tackle.

Cal State plan startles community colleges

Community college leaders are worried a California State University plan to turn away as many as 10,000 students next year could inundate two-year schools that already can't handle spiking enrollment.

Cal State trustees will discuss Wednesday whether to limit admissions more strictly than ever before. The 23-campus system simply won't be able to handle the 460,000 or so students it has now if state funds drop next year, Chancellor Charles Reed told reporters Monday.

Tuesday, November 18, 2008

Concord Council to take up Naval Weapons Station plans

CONCORD — For the first time, city leaders will embark on choosing a land use plan for the shuttered Concord Naval Weapons Station, weighing in on the number and locations of parks, and the placement and quantity of development.

Instead of holding the City Council meeting in the smallish chamber at the Civic Center, leaders will meet at 6:30 p.m. Monday in the Concord Senior Center to accommodate expected a larger crowd.

Housing and environmental organizations have been watching the city's years-long effort to come up with new uses for the base's 5,028 inland acres. And finally on Monday, they will get to talk with the full City Council about what they want to see happen on the former military station. Members of the public are encouraged to attend, too. In fact, Councilman Guy Bjerke said, the more the merrier.

Time to graduate from Electoral College, Stanford professor says

This is a sampling of political writer Josh Richman's blog, The Political Blotter. Read more and post comments at www.ibabuzz.com/politics.

Nov. 12

This year's presidential election didn't bring us the sort of one-state Electoral College cliffhanger that we had in 2000 and 2004, but there are those who still believe the college as it stands is an outdated relic.

A leader of that movement — John Koza, a computer scientist who's a consulting professor in Stanford University's electrical engineering and medicine departments — is delivering a lecture this afternoon (Nov. 12) at UC Berkeley. His argument is that in the existing system, a candidate has no reason to poll, visit, advertise in or even pay much attention to states where he/she or his/her opponent enjoys a seemingly insurmountable lead; witness how California usually serves as little more than a campaign-cash ATM for candidates. But if the president is picked by a direct national popular vote, he says, every state becomes a battleground.

County assessor pays $5,000 fine for improperly removing asbestos

Contra Costa's assessor paid a $5,000 fine to the region's air quality district for improperly demolishing a Bay Point house after repeatedly ignoring warnings that it contained asbestos, according to reports.

The elec-ted official violated numerous Bay Area Air Quality Management District regulations: late notice of demolition; asbestos wasn't removed before demolition; no survey was conducted; asbestos was discovered after demolition; waste wasn't contained properly; and no waste records were kept, officials say.

County assessor pays $5,000 fine for improperly removing asbestos

Contra Costa's assessor paid a $5,000 fine to the region's air quality district for improperly demolishing a Bay Point house after repeatedly ignoring warnings that it contained asbestos, according to reports.

The elec-ted official violated numerous Bay Area Air Quality Management District regulations: late notice of demolition; asbestos wasn't removed before demolition; no survey was conducted; asbestos was discovered after demolition; waste wasn't contained properly; and no waste records were kept, officials say.

Monday, November 17, 2008

Anti-Prop. 8 protests' energy comes late

As thousands gather in cities across the nation today to protest the passage of Proposition 8, a constitutional ban on same-sex marriage, some are asking, "Where were all these people a few weeks ago?"

After all, so many fired-up advocates of the right to same-sex marriage could have proved a powerful grass-roots army to knock on doors, work phone banks and get out the vote against Prop. 8. Many volunteers worked against the measure, to be sure, but not this many, and the outpouring of emotion since last week's vote has led some to wonder why it did not come earlier.

Anti-Prop. 8 protests' energy comes late

As thousands gather in cities across the nation today to protest the passage of Proposition 8, a constitutional ban on same-sex marriage, some are asking, "Where were all these people a few weeks ago?"

After all, so many fired-up advocates of the right to same-sex marriage could have proved a powerful grass-roots army to knock on doors, work phone banks and get out the vote against Prop. 8. Many volunteers worked against the measure, to be sure, but not this many, and the outpouring of emotion since last week's vote has led some to wonder why it did not come earlier.

Sunday, November 16, 2008

Prop. 8 debate exposes divisions within families of gay couples

OAKLAND — By the time Shidiva and Sherri Black-White were married at Oakland City Hall in June, they had spent two years trying to help their families adjust to the idea of their lesbian relationship.

Shidiva's relatives in Contra Costa County came around.

"I kind of put it to my family, if you make a decision that you can't deal with my sexuality, you're really going to be losing the relationship you have with me," she said. "Over time, they got used to me."

Conservative lawmaker's bid to challenge Boxer meets with skepticism

SACRAMENTO — Orange County conservative Assemblyman Chuck DeVore's decision to challenge Sen. Barbara Boxer for 2010 wasn't exactly what some Republicans had in mind when thinking about revitalizing an image that took a bruising in the just completed Nov. 4 elections.

A darling of the hard-right wing of the party for his positions on abortion, taxes, regulations and energy, critics say the Irvine Republican is tied too closely to past battles already waged and lost. He doesn't do what they need, they say, to expand the party beyond its shrinking base.

U.S. October Retail Sales Fall

U.S. October Retail Sales Fall

October retail sales came in much weaker-than-expected falling 2.8% in the month. This was much weaker than the 2.1% drop expected within financial markets and more than double the downwardly revised 1.3% decline recorded in September. (September was originally reported as down 1.2%).

A sizeable decline in nominal retail sales was widely expected based on earlier indications of weak auto sales and a sharp falloff in gasoline prices. That latter weighed on receipts at service stations and resulted in this component dropping a much greater than expected 12.7% in the month. (This represented a record monthly decline for this series, in its current form, going back to 1992.) The motor vehicle component was more in line with expectations dropping 6.2% in the month.

Friday, November 14, 2008

In Moraga's open space debate, confusion reigned

On the surface, Sean Roberts was exactly the type of Moraga voter the Friends of Moraga Open Space hoped would support Measure K.

"I'm anti-development," Roberts said, sitting outside a Mexican restaurant in Moraga this week. The town already has vacant houses, he said, so why build more housing?

But Roberts voted for Measure J and against Measure K, because of the ballot arguments against Measure K that mentioned low-income housing.

East Bay transportation projects could see cash infusion

Rep. Ellen Tauscher, the senior Californian on the House Transportation Committee, has asked East Bay transportation officials to compile a list of highway and transit projects ready to go in the event Congress includes funding in another stimulus package.

The idea is to bolster projects that could stall as their other sources of cash dry up in the economic drought. It would also generate high-paying construction jobs.

"The situation is extreme," said Tauscher, D-Alamo. "We need to look at stimulative funding that will push federal money forward to mitigate the loss of sales tax and state transportation dollars that may not materialize."

Wednesday, November 12, 2008

Tiny Contra Costa veterans department changing lives

Jonathan Atherton was standing atop the Humvee turret swiveling his machine gun when darkness enveloped him.

The Concord Army corporal woke up confused two hours later in a different Iraqi city. Others in his squadron teased him for falling asleep on the job. The gunner in the Humvee behind him saw what had really happened.

As Atherton's patrol passed underneath a bridge, a child had dropped a cinder block on his head. His helmet saved his life, but he had a traumatic brain injury that sent him down a troubled path not uncommon for soldiers returning from Iraq and Afghanistan.

Livermore parks district welcomes back incumbents

LIVERMORE — The business world isn't the only thing bearing the brunt of the sickly economy.

If the financial picture doesn't improve soon, some of the region's most precious commodities — its parks, trails and recreational programs — could find themselves on the chopping block, parks officials say.

Steve Goodman, one of two Livermore Area Parks and Recreation District board incumbents who were re-elected Nov. 4, said that although he was happy for the opportunity to serve on the board another four years, he has been rolling up his sleeves for what could be a bumpy road ahead, trying to pull together funding for existing services.

Bay Area congressional Democrats eagerly await Obama's arrival in the White House

A Barack Obama presidency holds great promise for California's Democratic congressional delegation.

It virtually guarantees greater access to the White House for high-profile Californians such as House Speaker Nancy Pelosi of San Francisco and veteran Rep. George Miller of Martinez, the powerful chairman of the House Committee on Education and Labor and one the speaker's top advisers.

"California will absolutely have a greater voice in the Obama White House through its congressional delegation," said Bruce Cain, director of the UC Berkeley Washington Center. "Having a Speaker from California who relies very heavily on her caucus and people like Miller, who hold very important committee chairmanships, will increase the state's influence."

Open primaries another path to moderation?

SACRAMENTO — Gov. Arnold Schwarzenegger likely will go to the end of his days in the Capitol frustrated by the unwillingness of the two major parties to work together, especially in times of crisis.

But he apparently is trying to plant the seeds of compromise for future governors, having led the successful redistricting ballot initiative, which he contends will make lawmakers more responsive to the needs of constituents.

He will soon pivot to another pet reform that he says he hopes would bring even more levelheadedness to Sacramento: open primaries.

Tuesday, November 11, 2008

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Black men hope Obama presidency shatters racial stereotypes

Bryan Ford sees a lot of himself in Barack Obama. Like the president-elect, the San Jose State sophomore was raised by a single mother. And, like Obama's long fight to the White House, Ford says being a young black man in America has often meant defying others' low expectations.

"I've been searched by the cops just for being black, for standing on the street with my friends," said the 19-year-old student, who also recalls being tailed by security guards in shopping malls. "It happened all the time."

Governor hoping that some term-limited Republicans will soften anti-tax stance

SACRAMENTO — Republican state Sen. Dick Ackerman bridles when it's suggested he might suddenly soften his anti-tax principles and vote for a tax increase because he's term-limited and not worried about re-election.

Not even a plum appointment by Gov. Arnold Schwarzenegger could sway him, said the former Senate minority leader from Orange County, who is a bit mystified that he was called back last week into a lame-duck special session to tackle an $11.2 billion budget shortfall.

Black men hope Obama presidency shatters racial stereotypes

Bryan Ford sees a lot of himself in Barack Obama. Like the president-elect, the San Jose State sophomore was raised by a single mother. And, like Obama's long fight to the White House, Ford says being a young black man in America has often meant defying others' low expectations.

"I've been searched by the cops just for being black, for standing on the street with my friends," said the 19-year-old student, who also recalls being tailed by security guards in shopping malls. "It happened all the time."

Black men hope Obama presidency shatters racial stereotypes

Bryan Ford sees a lot of himself in Barack Obama. Like the president-elect, the San Jose State sophomore was raised by a single mother. And, like Obama's long fight to the White House, Ford says being a young black man in America has often meant defying others' low expectations.

"I've been searched by the cops just for being black, for standing on the street with my friends," said the 19-year-old student, who also recalls being tailed by security guards in shopping malls. "It happened all the time."

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

Black men hope Obama presidency shatters racial stereotypes

Bryan Ford sees a lot of himself in Barack Obama. Like the president-elect, the San Jose State sophomore was raised by a single mother. And, like Obama's long fight to the White House, Ford says being a young black man in America has often meant defying others' low expectations.

"I've been searched by the cops just for being black, for standing on the street with my friends," said the 19-year-old student, who also recalls being tailed by security guards in shopping malls. "It happened all the time."

Black men hope Obama presidency shatters racial stereotypes

Bryan Ford sees a lot of himself in Barack Obama. Like the president-elect, the San Jose State sophomore was raised by a single mother. And, like Obama's long fight to the White House, Ford says being a young black man in America has often meant defying others' low expectations.

"I've been searched by the cops just for being black, for standing on the street with my friends," said the 19-year-old student, who also recalls being tailed by security guards in shopping malls. "It happened all the time."

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

College can't insulate students from economic crisis

Like other students in the new world of debt and financial hardship, Darla Tuning has had a tough time affording college.

The 42-year-old Oakland resident has balanced her Cal State East Bay education with a smorgasbord of stress: a husband laid off from IndyMac who is working four musician jobs to make ends meet, three children with costly music lessons and the possibility her bachelor's degree in music education will not help her land a job.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Lawmakers field requests for inaugural tickets

The East Bay congressional delegation is compiling first-come, first-serve waiting lists of those who want free — and hard to get — tickets to the Jan. 20 presidential inaugural ceremony in Washington, D.C.

But federal lawmakers are warning the hundreds of constituents who have called or sent e-mail requests for tickets that a spot on the list offers no guarantees.

Members do not know how many of the estimated 250,000 tickets their offices will receive from the Joint Congressional Inaugural Committee. Ticket-holders will have access to the outdoor viewing area on the west front of the Capitol.

Concord councilwoman wants city to curb 'urban noise'

CONCORD — This isn't about leaf blowers and barking dogs, Councilwoman Helen Allen said.

But she wants city leaders to talk in the near future about creating a noise ordinance to curb rumbling motorcycle noise, pounding bass-heavy car stereos and other "urban noise" throughout town.

"It shouldn't be so stringent that your dog can't bark," Allen said at a recent City Council meeting. "But I'd like to at least look at what we can do."

Concord councilwoman wants city to curb 'urban noise'

CONCORD — This isn't about leaf blowers and barking dogs, Councilwoman Helen Allen said.

But she wants city leaders to talk in the near future about creating a noise ordinance to curb rumbling motorcycle noise, pounding bass-heavy car stereos and other "urban noise" throughout town.

"It shouldn't be so stringent that your dog can't bark," Allen said at a recent City Council meeting. "But I'd like to at least look at what we can do."

Concord councilwoman wants city to curb 'urban noise'

CONCORD — This isn't about leaf blowers and barking dogs, Councilwoman Helen Allen said.

But she wants city leaders to talk in the near future about creating a noise ordinance to curb rumbling motorcycle noise, pounding bass-heavy car stereos and other "urban noise" throughout town.

"It shouldn't be so stringent that your dog can't bark," Allen said at a recent City Council meeting. "But I'd like to at least look at what we can do."

Concord councilwoman wants city to curb 'urban noise'

CONCORD — This isn't about leaf blowers and barking dogs, Councilwoman Helen Allen said.

But she wants city leaders to talk in the near future about creating a noise ordinance to curb rumbling motorcycle noise, pounding bass-heavy car stereos and other "urban noise" throughout town.

"It shouldn't be so stringent that your dog can't bark," Allen said at a recent City Council meeting. "But I'd like to at least look at what we can do."

Concord councilwoman wants city to curb 'urban noise'

CONCORD — This isn't about leaf blowers and barking dogs, Councilwoman Helen Allen said.

But she wants city leaders to talk in the near future about creating a noise ordinance to curb rumbling motorcycle noise, pounding bass-heavy car stereos and other "urban noise" throughout town.

"It shouldn't be so stringent that your dog can't bark," Allen said at a recent City Council meeting. "But I'd like to at least look at what we can do."

Californians and Bay Area voters embrace new spending measures

San Mateo County school ballot measures, for the most part, won convincingly Tuesday despite or even because of the bad economy. The measures' supporters say voters realized schools need more funds, particularly in a time of budget shortfalls. The high voter turnout also helped.

Voters easily passed the Millbrae School District's $30 million bond Measure X, the Belmont-Redwood Shores district's parcel-tax Measure U and the Bayshore district's parcel-tax Measure Y.

Californians and Bay Area voters embrace new spending measures

San Mateo County school ballot measures, for the most part, won convincingly Tuesday despite or even because of the bad economy. The measures' supporters say voters realized schools need more funds, particularly in a time of budget shortfalls. The high voter turnout also helped.

Voters easily passed the Millbrae School District's $30 million bond Measure X, the Belmont-Redwood Shores district's parcel-tax Measure U and the Bayshore district's parcel-tax Measure Y.

Monday, November 10, 2008

U.K. Producer Price Index at Hand, Can the British Pound Hold Its Ground?

U.K. Producer Price Index at Hand, Can the British Pound Hold Its Ground?

Trading the News: U.K. Producer Price Index Output

What's Expected

Time of release: 11/10/2008 09:30 GMT, 04:30 EST
Primary Pair Impact : GBPUSD
Expected: 7.4%
Previous: 8.5%

Impact the U.K. PPI Output has had on GBPUSD after the last 3 releases

U.K. Producer Price Index at Hand, Can the British Pound Hold Its Ground?

Clayton City Council election results could change

CLAYTON — Some 764 ballots cast by Clayton voters — 657 absentee and 107 provisional — remained uncounted as of Friday and could change the outcome of the City Council election.

Incumbent Julie Pierce, a 16-year council veteran and top vote-getter with 3,258, will retain her first-place finish.

However, there is a 189-vote spread between community activist Howard Geller, who had snagged the third and last council seat as of Wednesday morning, and the fourth-highest vote-getter, Dan Richardson, a retired Walnut Creek public services director.

Sunday, November 9, 2008

Candidates in tight races wait anxiously

With as little as a 13-vote separation in some races Thursday, candidates anxiously awaited final election results as Contra Costa election workers tabulated a record number of uncounted ballots.

The first results update is expected to be on the county election Web site (www.cocovote.us) late this afternoon, Contra Costa registrar of voters Steve Weir said.

In the county's tightest race, Hercules City Council candidate John Delgado held a 13-vote lead for the final seat on the board.

Shell Canada president wants better co-ordination on climate change

Governments across the country need to get their act together on policies to address climate change, the president of one of Canada's major oil companies says.

Brian Straub, president of Shell Canada, said Thursday that voluntary efforts to reduce greenhouse gas emission should be replaced by coherent and consistent government-mandated rules.

"It often comes as a bit of a surprise to hear a major oil company advocating for more and better public policy guidance," Straub said at a news conference in Regina. "But that's exactly what we're after. We believe the time for voluntary action has passed and must be replaced by consistent government policy on a Canadian, North American and a global basis."

Friday, November 7, 2008

Lafayette council to remain the same

In voting for three incumbents — Mike Anderson, Carl Anduri and Carol Federighi — Lafayette voters sent the message that the city is on the right track, re-elected City Council members said.

"It indicates an overall sense of satisfaction with what the council is doing," Anderson said.

Anduri agreed. "I feel good about the direction the city is going. People weren't buying what the challenger was saying about the concerns. I think the people who know the facts know the city is on the right track."

Lafayette council to remain the same

In voting for three incumbents — Mike Anderson, Carl Anduri and Carol Federighi — Lafayette voters sent the message that the city is on the right track, re-elected City Council members said.

"It indicates an overall sense of satisfaction with what the council is doing," Anderson said.

Anduri agreed. "I feel good about the direction the city is going. People weren't buying what the challenger was saying about the concerns. I think the people who know the facts know the city is on the right track."

East Richmond Heights law enforcement tax fails

A proposed parcel tax to bolster law enforcement presence in a pair of unincorporated neighborhoods near Richmond failed to receive the required two-thirds majority at the polls Tuesday night.

Measure F would have cost the owners of about 1,900 parcels in the East Richmond Heights and Bayo Vista neighborhoods $108 annually per parcel, raising about $180,000 annually to support a Contra Costa sheriff's deputy dedicated full time to serving those communities.

East Richmond Heights law enforcement tax fails

A proposed parcel tax to bolster law enforcement presence in a pair of unincorporated neighborhoods near Richmond failed to receive the required two-thirds majority at the polls Tuesday night.

Measure F would have cost the owners of about 1,900 parcels in the East Richmond Heights and Bayo Vista neighborhoods $108 annually per parcel, raising about $180,000 annually to support a Contra Costa sheriff's deputy dedicated full time to serving those communities.

East Richmond Heights law enforcement tax fails

A proposed parcel tax to bolster law enforcement presence in a pair of unincorporated neighborhoods near Richmond failed to receive the required two-thirds majority at the polls Tuesday night.

Measure F would have cost the owners of about 1,900 parcels in the East Richmond Heights and Bayo Vista neighborhoods $108 annually per parcel, raising about $180,000 annually to support a Contra Costa sheriff's deputy dedicated full time to serving those communities.

Lafayette council to remain the same

In voting for three incumbents — Mike Anderson, Carl Anduri and Carol Federighi — Lafayette voters sent the message that the city is on the right track, re-elected City Council members said.

"It indicates an overall sense of satisfaction with what the council is doing," Anderson said.

Anduri agreed. "I feel good about the direction the city is going. People weren't buying what the challenger was saying about the concerns. I think the people who know the facts know the city is on the right track."

Acalanes voters pass district's largest bond measure ever

Despite a softening economy, voters in the Acalanes Union High School District approved its largest bond issue ever — $93 million — at the ballot box Tuesday, with more than 63 percent of those who cast ballots supporting the measure.

It required 55 percent approval to pass.

The measure will not raise taxes immediately. Instead, it will extend the current tax rate, which would have ended in 2025, until about 2042, depending on economic conditions.

Acalanes voters pass district's largest bond measure ever

Despite a softening economy, voters in the Acalanes Union High School District approved its largest bond issue ever — $93 million — at the ballot box Tuesday, with more than 63 percent of those who cast ballots supporting the measure.

It required 55 percent approval to pass.

The measure will not raise taxes immediately. Instead, it will extend the current tax rate, which would have ended in 2025, until about 2042, depending on economic conditions.

Acalanes voters pass district's largest bond measure ever

Despite a softening economy, voters in the Acalanes Union High School District approved its largest bond issue ever — $93 million — at the ballot box Tuesday, with more than 63 percent of those who cast ballots supporting the measure.

It required 55 percent approval to pass.

The measure will not raise taxes immediately. Instead, it will extend the current tax rate, which would have ended in 2025, until about 2042, depending on economic conditions.

Notable East Bay residents hail Obama era's dawn

As America awoke to a new chapter of history Wednesday, some notable East Bay residents offered their views on what the Obama victory and presidency might mean.

Poet, essayist and novelist Ishmael Reed, 70, of Oakland, said he was in a Mexican restaurant with a largely black clientele Tuesday night when television networks began announcing Obama's win.

"There was spontaneous cheering, a real outpouring of joy and emotion," he said. "I drove to downtown Oakland and people were honking horns and cheering, and I told my spouse and daughter that this must've been what it was like in the South when the Emancipation Proclamation had been declared."

Notable East Bay residents hail Obama era's dawn

As America awoke to a new chapter of history Wednesday, some notable East Bay residents offered their views on what the Obama victory and presidency might mean.

Poet, essayist and novelist Ishmael Reed, 70, of Oakland, said he was in a Mexican restaurant with a largely black clientele Tuesday night when television networks began announcing Obama's win.

"There was spontaneous cheering, a real outpouring of joy and emotion," he said. "I drove to downtown Oakland and people were honking horns and cheering, and I told my spouse and daughter that this must've been what it was like in the South when the Emancipation Proclamation had been declared."

Notable East Bay residents hail Obama era's dawn

As America awoke to a new chapter of history Wednesday, some notable East Bay residents offered their views on what the Obama victory and presidency might mean.

Poet, essayist and novelist Ishmael Reed, 70, of Oakland, said he was in a Mexican restaurant with a largely black clientele Tuesday night when television networks began announcing Obama's win.

"There was spontaneous cheering, a real outpouring of joy and emotion," he said. "I drove to downtown Oakland and people were honking horns and cheering, and I told my spouse and daughter that this must've been what it was like in the South when the Emancipation Proclamation had been declared."

Struggling Citi bids farewell to No. 1 spot

One year ago this week, the board of a struggling Citigroup Inc. ousted chief executive Charles Prince in hopes of turning the bank around.

Twelve months and $68 billion in mortgage-related losses later, Citi shares have lost 65% of their value, and the company has so many troubled assets that its days as a leader in U.S. finance appear to be over.

What was once the world's biggest bank has slipped to a position as America's fourth-largest by market value, ahead of Minneapolis-based U.S. Bancorp.

Thursday, November 6, 2008

Goldman hedge fund takes mighty fall

A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.

The Goldman Sachs Investment Partners fund, which was launched in January with $6 billion under management, reportedly told shareholders the fund had taken a huge hit as part of the overall financial crisis.

The fund, managed by a unit of The Goldman Sachs Group Inc. of New York, was down 13% in the third quarter and was down 15.5% through the first nine months of the year, according to the Financial Times.

Goldman hedge fund takes mighty fall

A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.

The Goldman Sachs Investment Partners fund, which was launched in January with $6 billion under management, reportedly told shareholders the fund had taken a huge hit as part of the overall financial crisis.

The fund, managed by a unit of The Goldman Sachs Group Inc. of New York, was down 13% in the third quarter and was down 15.5% through the first nine months of the year, according to the Financial Times.

Goldman hedge fund takes mighty fall

A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.

The Goldman Sachs Investment Partners fund, which was launched in January with $6 billion under management, reportedly told shareholders the fund had taken a huge hit as part of the overall financial crisis.

The fund, managed by a unit of The Goldman Sachs Group Inc. of New York, was down 13% in the third quarter and was down 15.5% through the first nine months of the year, according to the Financial Times.

Naked short selling on the wane

Christopher Cox, Securities and Exchange Commission chief, has been coming down hard on short selling and illegal naked short sales since October, and his efforts seem to be paying off, according to the New York Post.

While he has been generating results, he has not been making many fans on Wall Street.

The Nasdaq Stock Market Inc. published a naked-short-selling watch list this week that named 56 stocks, as opposed to nearly 500 listed in September.

Goldman hedge fund takes mighty fall

A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.

The Goldman Sachs Investment Partners fund, which was launched in January with $6 billion under management, reportedly told shareholders the fund had taken a huge hit as part of the overall financial crisis.

The fund, managed by a unit of The Goldman Sachs Group Inc. of New York, was down 13% in the third quarter and was down 15.5% through the first nine months of the year, according to the Financial Times.

Naked short selling on the wane

Christopher Cox, Securities and Exchange Commission chief, has been coming down hard on short selling and illegal naked short sales since October, and his efforts seem to be paying off, according to the New York Post.

While he has been generating results, he has not been making many fans on Wall Street.

The Nasdaq Stock Market Inc. published a naked-short-selling watch list this week that named 56 stocks, as opposed to nearly 500 listed in September.

Wednesday, November 5, 2008

Dotson beats LaForce in East Bay Regional Park District contest

A pair of environmental activists squared off in the sole competitive race this year for the East Bay Regional Park District board of directors, with Whitney Dotson, a retired public health program director and Richmond community activist, emerging as the victor.

Dotson garnered more than 48,000 votes compared with nearly 37,000 votes for his competitor, lawyer and Sierra Club activist Norman LaForce.

The pair were competing for the Ward 1 seat being vacated by Nancy Skinner, who is running for state Assembly. Ward 1 includes Albany, Berkeley, Emeryville, El Cerrito, El Sobrante, Kensington, Richmond, San Pablo and parts of Oakland and Pinole.

Glover beats Agopian as final ballots counted in East County supervisor race

In a close race that was only decided when the final votes were tallied early Wednesday morning, two-term incumbent Federal Glover beat back challenger Gary Agopian in the runoff race for the Contra Costa supervisor seat.

With provisional ballots outstanding, Glover took 28,358 votes compared with 26,069 for Agopian.

Glover, the top vote-getter in the June primary, was set to face runner-up Erik Nunn in the two-man race, but weeks after the June primary Nunn, his wife and another Oakley couple died in a plane crash outside of Las Vegas. The election code determined that third place finisher Gary Agopian, an Antioch school trustee, would replace Nunn on the November runoff ballot.

Buchanan beats out Wilson, steals Houston seat

In a costly upset for the Republicans, Democrat Joan Buchanan has won the race for the Bay Area's last remaining GOP-held seat in the state legislature.

The Assembly District 15 contest between Buchanan, a veteran board member in the San Ramon Valley Unified School District, and Abram Wilson, the popular Republican mayor of San Ramon, was one of the most expensive and hardest fought Assembly races in the state this election season.

With 97 percent of the votes counted early Wednesday, Buchanan appears to have prevailed by a nearly six percentage point margin.

Dotson beats LaForce in East Bay Regional Park District contest

A pair of environmental activists squared off in the sole competitive race this year for the East Bay Regional Park District board of directors, with Whitney Dotson, a retired public health program director and Richmond community activist, emerging as the victor.

Dotson garnered more than 48,000 votes compared with nearly 37,000 votes for his competitor, lawyer and Sierra Club activist Norman LaForce.

The pair were competing for the Ward 1 seat being vacated by Nancy Skinner, who is running for state Assembly. Ward 1 includes Albany, Berkeley, Emeryville, El Cerrito, El Sobrante, Kensington, Richmond, San Pablo and parts of Oakland and Pinole.

Dotson beats LaForce in East Bay Regional Park District contest

A pair of environmental activists squared off in the sole competitive race this year for the East Bay Regional Park District board of directors, with Whitney Dotson, a retired public health program director and Richmond community activist, emerging as the victor.

Dotson garnered more than 48,000 votes compared with nearly 37,000 votes for his competitor, lawyer and Sierra Club activist Norman LaForce.

The pair were competing for the Ward 1 seat being vacated by Nancy Skinner, who is running for state Assembly. Ward 1 includes Albany, Berkeley, Emeryville, El Cerrito, El Sobrante, Kensington, Richmond, San Pablo and parts of Oakland and Pinole.

Dotson beats LaForce in East Bay Regional Park District contest

A pair of environmental activists squared off in the sole competitive race this year for the East Bay Regional Park District board of directors, with Whitney Dotson, a retired public health program director and Richmond community activist, emerging as the victor.

Dotson garnered more than 48,000 votes compared with nearly 37,000 votes for his competitor, lawyer and Sierra Club activist Norman LaForce.

The pair were competing for the Ward 1 seat being vacated by Nancy Skinner, who is running for state Assembly. Ward 1 includes Albany, Berkeley, Emeryville, El Cerrito, El Sobrante, Kensington, Richmond, San Pablo and parts of Oakland and Pinole.

Dotson beats LaForce in East Bay Regional Park District contest

A pair of environmental activists squared off in the sole competitive race this year for the East Bay Regional Park District board of directors, with Whitney Dotson, a retired public health program director and Richmond community activist, emerging as the victor.

Dotson garnered more than 48,000 votes compared with nearly 37,000 votes for his competitor, lawyer and Sierra Club activist Norman LaForce.

The pair were competing for the Ward 1 seat being vacated by Nancy Skinner, who is running for state Assembly. Ward 1 includes Albany, Berkeley, Emeryville, El Cerrito, El Sobrante, Kensington, Richmond, San Pablo and parts of Oakland and Pinole.

Dotson beats LaForce in East Bay Regional Park District contest

A pair of environmental activists squared off in the sole competitive race this year for the East Bay Regional Park District board of directors, with Whitney Dotson, a retired public health program director and Richmond community activist, emerging as the victor.

Dotson garnered more than 48,000 votes compared with nearly 37,000 votes for his competitor, lawyer and Sierra Club activist Norman LaForce.

The pair were competing for the Ward 1 seat being vacated by Nancy Skinner, who is running for state Assembly. Ward 1 includes Albany, Berkeley, Emeryville, El Cerrito, El Sobrante, Kensington, Richmond, San Pablo and parts of Oakland and Pinole.

Glover beats Agopian as final ballots counted in East County supervisor race

In a close race that was only decided when the final votes were tallied early Wednesday morning, two-term incumbent Federal Glover beat back challenger Gary Agopian in the runoff race for the Contra Costa supervisor seat.

With provisional ballots outstanding, Glover took 28,358 votes compared with 26,069 for Agopian.

Glover, the top vote-getter in the June primary, was set to face runner-up Erik Nunn in the two-man race, but weeks after the June primary Nunn, his wife and another Oakley couple died in a plane crash outside of Las Vegas. The election code determined that third place finisher Gary Agopian, an Antioch school trustee, would replace Nunn on the November runoff ballot.

Buchanan beats out Wilson, steals Houston seat

In a costly upset for the Republicans, Democrat Joan Buchanan has won the race for the Bay Area's last remaining GOP-held seat in the state legislature.

The Assembly District 15 contest between Buchanan, a veteran board member in the San Ramon Valley Unified School District, and Abram Wilson, the popular Republican mayor of San Ramon, was one of the most expensive and hardest fought Assembly races in the state this election season.

With 97 percent of the votes counted early Wednesday, Buchanan appears to have prevailed by a nearly six percentage point margin.

John Swett school district bond measure passes

A bond measure that will help the John Swett school district in renovating John Swett High School passed with 73 percent approval Tuesday.

Yes votes totaled 3,308 while 1,197 voters opposed the measure. That figure represented 26.5 percent. Measure A is a $20 million bond measure that helps the John Swett Unified School District pay for upgrades to John Swett High in Crockett and needed a 55 percent approval rating to pass.

The money would be used to build a new sports complex with an artificial turf playing field, media center, expanded classrooms and more. Other upgrades include creating better accessibility and replacing John Swett's 80-year-old heating, ventilation and air-conditioning system.

Glover beats Agopian as final ballots counted in East County supervisor race

In a close race that was only decided when the final votes were tallied early Wednesday morning, two-term incumbent Federal Glover beat back challenger Gary Agopian in the runoff race for the Contra Costa supervisor seat.

With provisional ballots outstanding, Glover took 28,358 votes compared with 26,069 for Agopian.

Glover, the top vote-getter in the June primary, was set to face runner-up Erik Nunn in the two-man race, but weeks after the June primary Nunn, his wife and another Oakley couple died in a plane crash outside of Las Vegas. The election code determined that third place finisher Gary Agopian, an Antioch school trustee, would replace Nunn on the November runoff ballot.

Glover beats Agopian as final ballots counted in East County supervisor race

In a close race that was only decided when the final votes were tallied early Wednesday morning, two-term incumbent Federal Glover beat back challenger Gary Agopian in the runoff race for the Contra Costa supervisor seat.

With provisional ballots outstanding, Glover took 28,358 votes compared with 26,069 for Agopian.

Glover, the top vote-getter in the June primary, was set to face runner-up Erik Nunn in the two-man race, but weeks after the June primary Nunn, his wife and another Oakley couple died in a plane crash outside of Las Vegas. The election code determined that third place finisher Gary Agopian, an Antioch school trustee, would replace Nunn on the November runoff ballot.

John Swett school district bond measure passes

A bond measure that will help the John Swett school district in renovating John Swett High School passed with 73 percent approval Tuesday.

Yes votes totaled 3,308 while 1,197 voters opposed the measure. That figure represented 26.5 percent. Measure A is a $20 million bond measure that helps the John Swett Unified School District pay for upgrades to John Swett High in Crockett and needed a 55 percent approval rating to pass.

The money would be used to build a new sports complex with an artificial turf playing field, media center, expanded classrooms and more. Other upgrades include creating better accessibility and replacing John Swett's 80-year-old heating, ventilation and air-conditioning system.

John Swett school district bond measure passes

A bond measure that will help the John Swett school district in renovating John Swett High School passed with 73 percent approval Tuesday.

Yes votes totaled 3,308 while 1,197 voters opposed the measure. That figure represented 26.5 percent. Measure A is a $20 million bond measure that helps the John Swett Unified School District pay for upgrades to John Swett High in Crockett and needed a 55 percent approval rating to pass.

The money would be used to build a new sports complex with an artificial turf playing field, media center, expanded classrooms and more. Other upgrades include creating better accessibility and replacing John Swett's 80-year-old heating, ventilation and air-conditioning system.

Tuesday, November 4, 2008

Feds plan for new era in nuclear deterrence

Under a new federal plan, Lawrence Livermore Laboratory would become the nation's center for testing and developing explosive devices for nuclear weapons.

The proposed expansion at the Livermore site is one of numerous sweeping changes recommended by the agency overseeing the nation's nuclear weapons arsenal.

The plan, released Oct. 24, aims to reconfigure the country's eight national security labs to meet 21st century demands for maintaining a reliable and credible nuclear deterrence with an aging weapons stockpile.

Dems hoping to ride Obama wave

SACRAMENTO — When the state's political landscape settles after Tuesday's election, California is likely to be a deeper shade of blue than it is today — with Democrats up and down the ballot hoping to ride the coattails of presidential candidate Barack Obama.

In a mood to punish Republicans for President Bush's unpopular reign, voters are expected to send more Democrats to Congress, the state Assembly, and possibly the state Senate, and, in the process, push the state Capitol to the left on tax and spending policies, as well as on the environment, business regulation and social issues.

Boxer fires a shot across Paulson's bow

EDITOR'S NOTE: This is a sampling of political writer Josh Richman's blog, The Political Blotter. Read more and post comments at www.ibabuzz.com/politics.

Oct. 29

Sen. Barbara Boxer, D-Calif., fired a warning shot across the banking industry's bow — and Treasury Secretary Henry Paulson's as well — while taking questions at her San Francisco news conference today.

She called for a crackdown on banks that are sitting on or misusing some of the money they got from the $700 billion public bailout of the financial industry; the bailout's intent was to get credit flowing again, but that won't happen if banks aren't lending out the public money they just got.

The Contra Costa 13

MARTINEZ — Kerry Jacquet found a last-minute baby sitter. Selin Khayatan took time off from work. Danielle Bullock missed a math exam. Dan Eaton forked over $50 to a cabbie.

And you thought dragging yourself down to your local precinct to vote was a chore. Thirteen Contra Costa residents braved an early morning drizzle Monday and jumped through legal and bureaucratic hoops to cast likely the most well-earned votes of their lives.

Judge reinstates Antioch write-in candidate

MARTINEZ — A Contra Costa County Superior Court judge on Monday reinstated Allen Payton as a qualified write-in candidate for Antioch mayor, reversing an earlier decision by the county clerk.

Judge Judith Sanders ruled that County Clerk Steve Weir must requalify Payton, therefore ensuring that votes cast for him in today's election will be tallied and counted.

"It was a fair decision and a right decision," Payton said. "Not just on behalf of my campaign, but for voters in Antioch."

Monday, November 3, 2008

Richmond council candidates spend big money to woo voters

Six Richmond City Council candidates are taking advantage of a new law that provides public money to help finance their bids for election.

Incumbents Nat Bates and Harpreet Sandhu each requested $25,000 in public funds, the maximum allowed under the city's new campaign financing law, City Clerk Diane Holmes said. Incumbent Tom Butt requested $20,000 and John Marquez $15,000. Challengers Jovanka Beckles and Jeff Ritterman requested $10,000 each.

Congressional candidates battle to the wire

The Times spent a day in the final week leading up to Election Day shadowing each of the congressional candidates in the high-profile contest between Rep. Jerry McNerney, D-Pleasanton, and GOP challenger Dean Andal of Stockton.

It illuminated a grueling schedule and the candidates' disparate — much like their politics — personal styles.

McNerney possesses an extraordinary level of curiosity about the world around him.

Bocce controversy rolling again in Clayton

CLAYTON — People living in a residential enclave near City Hall found themselves fairly riled up three years ago when the city approved bocce courts near their houses.

The fiercely popular Italian sport of tossing small, hard balls within manicured outdoor courts would lead to loud, cheering crowds and parking problems, they argued.

The City Council approved plans for seven courts despite the grumblings. But try as they might, and with the economy deteriorating, members of the Clayton Bocce Federation couldn't raise the money in the meantime to build them.

Mitchoff leads Pleasant Hill council race in dollars, key endorsements

PLEASANT HILL — Karen Mitchoff has emerged as the "establishment" candidate among the challengers in the Pleasant Hill council race, collecting campaign contributions and endorsements from labor unions and other local politicians — including the two incumbents in the race.

Mitchoff, a Pleasant Hill Recreation and Park district board member with strong political ties in the county, has raised more than $11,000 for her campaign, easily outpacing the two other challengers, according to campaign statements filed with the city clerk.

Almost 1 in 5 U.S. homes worth less than mortgage: report

Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday indicates.

About 7.63 million residential properties, or 18 per cent, had negative equity in September, and another 2.1 million will follow if home prices fall another five per cent, according to a report by First American CoreLogic.

The data, covering 43 states and Washington, D.C., includes borrowers nationwide, even those who took out mortgages before housing prices began to soar early this decade.

One-time item boosts Goldcorp's profit to $297M US

One-time item boosts Goldcorp's profit to $297M USThree-month TSX trading for Goldcorp

A revaluation of future tax liabilities almost quadrupled Goldcorp Inc.'s third-quarter profit to $297.2 million US from $75.8 million in the same period last year, the company reported Friday.

Sunday, November 2, 2008

Dollar and Yen Rally as Markets Retrace Gains from Middle of the Week

Dollar and Yen Rally as Markets Retrace Gains from Middle of the Week

JPN Household Spending Drops 2.3%, Unemployment Rate Falls to 4%

We begin with a barrage of data from Japan to end the month. Household spending declined 2.3% in September compared to a year ago, the seventh consecutive month that spending has been negative. The figure did beat expectations of an even larger decline. In another release that beat forecasts, the unemployment rate fell to 4%.

Saturday, November 1, 2008

Bruce Power eyes Lake Erie site for nuclear reactors

Nuclear power-plant operator Bruce Power said Friday it is considering construction of two new nuclear stations in Nanticoke, Ont., the site of a coal plant scheduled to shut down in 2014.

The private nuclear generating company announced Friday it had applied for a site preparation licence with the Canadian Nuclear Safety Commission.

"Ontario needs affordable, reliable and clean energy as we move forward to address one of the greatest challenges of our time — climate change," said Bruce Power president and CEO Duncan Hawthorne in a statement.

Consumer Spending Plummets & Sets the Stage for a Weak Q4

Consumer Spending Plummets & Sets the Stage for a Weak Q4

Personal income rose 0.2 percent in September and spending fell 0.3 percent. The September number is a bit of a lame duck, as nearly all of the information was included in yesterday’s GDP figures. The report, however, does shed light on where the current quarter begins and gives us an idea of how weak the fourth quarter will be.

Wages & Salaries Are Cleaner Than The Income Data

Canada's Economy Contracted In August

Canada's Economy Contracted In August

CAD GDP (Aug) Actual -0.3%, Expected -0.3%, Previous 0.7%

Release Explanation: This report measures the monetary value of all goods and services produced within a Country's borders in a specific time period. GDP is calculated on an annual basis, is the broadest measure of activity, and the primary gauge of each economy's overall health. It includes all Company and Personal consumption, government outlays, investments, and exports less imports, that occur within a defined territory.