• Can Meg Whitman Save California? Friday, 18 Sep 2009 | 1:58 PM ET

    Last night I had the pleasure of interviewing California gubernatorial candidate and former eBay CEO, Meg Whitman, on her plans to rescue the moribund Golden Sate.

  • Good News in California! Really? Wednesday, 2 Sep 2009 | 2:30 PM ET
    California Flag

    The state is broke. The hills are on fire. There's no water. Michael Jackson is about to be buried, and there's the horror of Jaycee Lee Dugard's captivity. California's doesn't have much to be proud of lately. The state went into recession first with a collapsing housing market and rising unemployment. Any positive news, any, is embraced as a sign of hope that the worst is over. Well, the following news is quite positive.

  • California Plans to Stop Issuing IOUs One Month Early Thursday, 13 Aug 2009 | 4:09 PM ET
    California Flag

    The decision came after meetings among state officials. They needed to review California's cash flow and assess investors' appetite for buying California bonds.

  • California Still Issuing IOUs, But 'End is Near' Wednesday, 12 Aug 2009 | 4:34 PM ET
    California Flag

    Three weeks after reaching a budget deal, California is still short on money. It's still issuing IOUs. The State Controllers Office says that from July 2 through August 7, $1,862,358,782.85 in so-called "registered warrants" have been issued by California in lieu of cash. Of that amount, $369 million has been sent out in August.

  • Pros Say: This Market Rally is 'Justified' Wednesday, 29 Jul 2009 | 11:10 AM ET

    Stocks opened lower Wednesday after a report showed a much sharper drop in durable-goods orders than expected. And a sharp selloff in China dragged on oil prices, which also weighed on the market. Mortgage applications also fell for the first time in four weeks. Read and listen to what the pros had to say...

  • Signs of Hope in California Housing Tuesday, 28 Jul 2009 | 4:47 PM ET
    California Suburbs

    "There's a lot of action if you're in the right price range," says Re/Max realtor Billy Wynn, who sells home in LA's San Fernando Valley.

  • Schwarzenegger Likely to Veto Calif. Social Programs Tuesday, 28 Jul 2009 | 12:43 PM ET
    California Gov. Arnold Schwartzenegger

    Gov. Arnold Schwarzenegger on Tuesday is expected to use his line-item veto power to make additional cuts to California's latest spending plan—a move advocates fear could further hurt the poor.

  • Sign of the Times: Will Sell Homes for Food Monday, 27 Jul 2009 | 10:49 AM ET
    Sign of the Times

    More signs of the times we live in. Attached is an image CNBC producer Jeff Daniels snapped near the 710 Freeway in Los Angeles.

  • Years of state and federal neglect have hobbled the nation’s unemployment system just as a brutal recession has doubled the number of jobless Americans seeking aid, the New York Times reported.

  • Arnold's Garage Sale Wednesday, 22 Jul 2009 | 2:12 PM ET
    California Flag

    Governor Arnold Schwarzenegger will hold a "garage sale" next month to sell off state cars and office supplies to raise money for California. The Governor has been Tweeting about the August 28-29 sale, saying he plans to list items on eBay and Craigslist.

  • California Budget Plan Includes New Offshore Oil Wednesday, 22 Jul 2009 | 3:56 AM ET
    San Francisco

    The deal to close California's $26 billion budget deficit included a plan to drill for offshore oil, drawing allegations that the fiscal crisis was used for a backroom deal following rejection of the idea by state regulators earlier this year.

  • Dow Logs 7th Straight Gain; Apple Slides Tuesday, 21 Jul 2009 | 4:29 PM ET

    A late rally pushed stocks higher Tuesday following better-than-expected earnings from several Dow components. The Dow logged its seventh-straight gain, the Nasdaq, it's tenth.

  • How Will You Spend Your Furlough? Tuesday, 21 Jul 2009 | 3:58 PM ET
    Jane Wells and Sue Herera

    I'm sitting in front of the Capitol in Sacramento with Power Lunch anchor Sue Herera. Sue, a California native, is out here to anchor a special report tonight on California's financial melodrama. She remembers her father jumping up and down with joy when Prop 13 passed 31 years ago. Taxpayers are about as angry now as they were then.

  • California Governors John and Ken Tuesday, 21 Jul 2009 | 3:12 PM ET
    KFIam, hosts of the John & Ken Show

    As Governor Arnold Schwarzenegger and top legislative leaders announce a plan to close the state's $26 billion budget hole without raising taxes, two guys sitting in an LA radio studio are taking credit.

  • Stocks Turn Lower as Bernanke Testifies Tuesday, 21 Jul 2009 | 2:18 PM ET

    The Dow advanced Tuesday as a slew of components beat earnings expectations. But there were pockets of weakness throughout the market, including chips, hardware, banks and retail. The Nasdaq was lower.

  • Strong Earnings Boost Dow; CIT Skids Tuesday, 21 Jul 2009 | 10:09 AM ET

    The Dow bolted out of the gate Tuesday as a slew of components beat earnings expectations. But there were pockets of weakness throughout the market, including chips, hardware, banks and retail. The Nasdaq was lower.

  • Futures Turn Higher on Earnings Strength Tuesday, 21 Jul 2009 | 8:45 AM ET

    Futures indicated a slightly lower open for Wall Street Tuesday ahead of a slew of earnings and Federal Reserve Chairman Ben Bernanke's Capitol Hill testimony.

  • Jackson Memorial: Behind The Blue Wall Tuesday, 7 Jul 2009 | 12:18 PM ET
    Police at the Staples Center

    I am a Los Angeles native who has covered every major story here over two decades. I have never seen so many Los Angeles police officers as I do this morning at the Staples Center.

  • California, Other States Face Tough Budget Choices Wednesday, 1 Jul 2009 | 9:39 AM ET
    Golden Gate Bridge

    Legislators in more than a half-dozen states, their revenues evaporating in the recession, frantically worked to stave off government shutdowns and devastating service cuts. California failed to meet a midnight deadline and now may need to issue IOUs instead of paying bills.

  • California: Bad For Business, Good For Bonds? Tuesday, 30 Jun 2009 | 2:27 PM ET

    The more turmoil in California, the more attractive its bonds? "Yes," says Jon Schotz, Chief Investment Officer at Saybrook Capital in Santa Monica.