Over 80 percent of California is now in extreme or exceptional drought. CNBC's Jane Wells reports UC Davis predicts this will cost the state $2.2 billion.» Read More
Is it unpatriotic to have a Fourth of July celebration without fireworks? Or is it fiscally responsible? That difficult choice is facing cities across America, as tight budgets have city managers weighing the mood-boosting value of throwing a traditional civic party against the realities of today's deficits.
California has about 225,000 organized state employees—still—and many have been forced to take three-day-a-month furloughs without pay. A few thousand of them converged on the Capitol Wednesday to protest threats by the Governor to impose the $7.25 minimum wage on them starting Thursday. There's no budget, and no solution to the $19.1 billion deficit.
I feel like a broken record. As the fiscal year ends, California is facing a crisis, with no budget…and a $19.1 billion…deficit…(yawn)…and no solution…zzzzzzz….. I’ve been reporting essentially the same thing for over two years, and while services have been cut and people are suffering, California, for the most part, is still functioning.
Two years ago, the Bay Area city of 120,000 went into a special kind of bankruptcy reserved for local governments called Chapter 9. It allowed the city of break contracts and suspend debt payments.
The Long Beach and Los Angeles ports released preliminary figures for May today.
The national foreclosure rate continued to fall in May, according to a new report released Thursday.
While sales of existing homes shot up across most of the nation in April, they fell in the West, down 6.2 percent.
Whitman is leading by 25 to 27 points in two polls (SurveyUSA and PPP) over Steve Poizner in the governor’s race, while Fiorina has opened up a 20 to 23 point lead against Tom Campbell in the Senate contest, with Chuck Devore trailing well behind.
Democrats in the state Senate on Monday countered Gov. Arnold Schwarzenegger's proposed budget cuts with a plan to raise taxes by nearly $5 billion, largely by extending temporary taxes and delaying corporate tax breaks for two years.
A large investor in Goldman Sachs is not ready to abandon the beleagured financial services giant just yet.
The chief investment officer of California's giant pension fund said Monday he is disturbed by the allegations of wrongdoing against investment firm Goldman Sachs.
California officials say former "Baywatch" star Pamela Anderson has failed to pay $493,000 in personal income tax. Anderson is on the annual list of delinquent taxpayers released Monday by the California Franchise Tax Board.
President Obama needs a real strategy that recognizes we will soon run out of oil and atmosphere and set goals to sustain our economy and environment in equal measures, instead of drilling for oil along the East Coast.
She's done it again. Former Hewlett-Packard CEO Carly Fiorina has released another attention-grabbing campaign video, as she seeks to beat out two Republican rivals and take on Sen. Barbara Boxer in November.
The City of Angels is facing a $200 million budget deficit in the current fiscal year which will grow another half billion next year. The city will owe $399 million next year just in debt service, and it faces about $6 billion in underfunded pensions and healthcare costs for its retired employees.
For more than a dozen years, the B&B Do It Center in Camarillo, CA, has been offering free doughnuts and coffee to customers. Not anymore.
n a new survey from Portfolio.com, seven of the top ten "wealth centers" in the country are in the Golden State. The survey combines several measurements from the Census Bureau, including per capital income, median income, the percentage of incomes over $200,000, and home prices.
Many of you assume that California is full of liberals, even though the Golden State produced Ronald Reagan, Richard Nixon, and Prop 13.
"The Power of Many: Values for Success in Business and in Life" is part memoir - part business philosophy – and yes, part campaign speech divided up into 10 chapters outlining Whitman’s rules of thumb.
When it rains, it pours. After more than three years of drought, California has had so much rain and flooding this week that the San Joaquin Valley, the setting of John Steinbeck's "Grapes of Wrath," is more like the "Grapes of Rafts."