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On brink of financial collapse, state lawmakers struggle with budget passage

a shared story    284 weeks 3 days 16 hours 58 minutes ago
Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse. An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators...(more) 




Bikes help commuters get around gas prices

a shared story    316 weeks 2 days 4 hours 10 minutes ago
High gasoline prices are fueling bicycle sales, and on some days Michael Hall's blood pressure. At least three times a week, Hall pedals to his job in Hollywood from his home in northern Glendale, a 25-mile round-trip commute that is faster on two wheels than four. "It's definitely...(more) 



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Exxon profit surges, but production slips

a shared story    4 hours 53 minutes ago
NEW YORK (AP) -- Exxon Mobil Corp. net income rose 28 percent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped 6 percent, disappointing analysts.... 



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Higher oil prices lift Exxon's profit as production sags

a shared story    4 hours 53 minutes ago
(Reuters) - Exxon Mobil Corp, the world's largest publicly traded oil company, reported a stronger-than-expected quarterly profit on Thursday as higher prices for its crude and natural gas offset a 6 percent drop in production.  




Wholesale prices soar in June; sales are sluggish

a shared story    315 weeks 2 days 5 hours 33 minutes ago
The economy showed the depth of its twin problems on Tuesday, slow growth and rising inflation, as the nation wrestled with a teetering financial system, a slumping dollar and rising prices for food and fuel. The Labor Department reported that soaring costs for gasoline and food pushed...(more) 




In Silicon Valley, more homeowners are spending more than half their income on housing

a shared story    303 weeks 4 days 1 hour 42 minutes ago
Laura Meneses made the same fateful choice that thousands of local home buyers have made since 2004: She decided to spend most of her family's income on housing. Over the last four years, the number of Santa Clara County homeowners who spend over half their income on...(more) 



buzz  5  + buzz


Price to PepsiCo for Not Being in Court: $1.26 Billion

a shared story    248 weeks 16 hours ago
What's the cost of not showing up to court? For PepsiCo Inc., it's a $1.26 billion default judgment. A Wisconsin state court socked the company with the monster award in a case alleging that PepsiCo stole the idea to bottle and sell purified water from two...(more) 




As Finances Tighten, Furloughs Give Way to Pay Cuts

a shared story    208 weeks 1 day 14 hours 8 minutes ago
The furloughs that popped up during the recession are being replaced by a highly unusual tactic: actual cuts in pay. 




Jobs outlook weak as state's unemployment rate hits 6.9% in June

a shared story    314 weeks 5 days 11 hours 45 minutes ago
California's jobless rate crept ahead Friday as experts saw weakness spreading into new areas of the economy. For months, job losses were concentrated in the state's housing industry. But with June's increase of one-tenth of a percentage point to 6.9%, it was evident that a broader downturn...(more) 



buzz  10  + buzz


UC System Could Gain Millions From Stimulus

a shared story    286 weeks 5 days 2 hours 10 minutes ago
If the $819 billion stimulus package passed by the U.S. House of Representatives Wednesday survives the legislative gauntlet in the coming weeks, it would boost financial aid chances for students and pump millions of dollars into the University of California, higher education officials say. It is unclear...(more) 




Dow loses 777 points, Worst Single-Day Drop in Two Decades

a shared story    304 weeks 2 days 22 hours 38 minutes ago
Stocks fell by nearly 9 percent on Monday — the worst single-day drop in two decades — after the government’s bailout plan, touted by its supporters as a balm for the current market stress, failed to pass the House of Representatives, setting off a fresh wave...(more) 




Economists see longest recession since World War Two

a shared story    289 weeks 4 days 19 hours 33 minutes ago
The U.S. recession will probably be the longest since World War Two and could worsen without heavy government spending, according to a closely-watched survey of economists released on Saturday. The Blue Chip Economic Indicators poll of 52 economists from top financial firms, major companies and academia found...(more) 



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