Little union, huge deal. Earlier this month, the 3,000-member California Association of Professional Scientists nixed a three-year contract offer from Gov. Jerry Brown that included 15 percent in raises and a new requirement that members pay nearly 3 percent of salary into a health benefits fund for retirees. Of the 1,388 scientists who voted, 1,006
Preliminary General Fund agency cash for September was $217 million above the 2015-16 Budget Act forecast of $9.491 billion. Year-to-date revenues are $744 million above the expected $22.855 billion. Personal income tax revenues to the General Fund were $486 million above the month’s forecast of $6.21 billion. Withholding receipts were $244 million above the forecast
Don’t be fooled by the new California jobs report out Friday that shows statewide unemployment falling below six percent for the first time in nearly a decade. The state added almost no jobs last month – and 32,000 people stopped looking for work. The headline looks great: California’s unemployment rate dipped below six percent in
Major construction, equipment and engineering firms around the world, responding to a solicitation to form a partnership with the California high-speed rail project, have raised serious concerns about the state's shortage of funding, the potential need for long-term operating subsidies and whether the project can meet the current construction schedule. The comments were included in
A little more than a year ago, Gov. Jerry Brown was touting an outbreak of bipartisanship in the Capitol. Lawmakers from both parties backed crucial deals on water and state finances — "a high point in our work together," the governor said. That spirit has been absent as Brown has struggled to find a deal
A new corporate site selection study names Fresno one of the most “logistics-friendly” cities in the U.S. Compiled by the Princeton, N.J.-based Boyd Company, the report compares the cost of operating a 500,000-square-foot, 200-employee distribution warehouse for a year in 25 U.S. cities. With an annual average operating cost of $15.87 million, Fresno ranked as
State Treasurer John Chiang released his 2015 Debt Affordability Report, offering insights into the State of California’s fiscal health, including the finding that the state’s creditworthiness ranks above only Illinois and New Jersey. Data focus in particular on use of debt to finance critical public works projects – issued debt, analysis of the market for
Sacramento Bee Commentary Federal officials released three major economic reports this month and together, they paint a dark picture of California. Superficially, the monthly employment report from the Bureau of Labor Statistics (BLS) was good news. California added 36,300 jobs in August, 470,000 in one year and more than 2 million since the recovery began.
Wall Street Journal excerpts, 9/24/15 Caterpillar Inc. said it would slash thousands of jobs and cut manufacturing space by 10%, as it expects weakening demand from resource and construction companies will continue to drive down sales of its heavy equipment through at least next year. The Peoria, Ill.-based company said the job cuts could exceed 10,000
Fresno Bee opinion piece by John Laird is California Secretary for Natural Resources and Asm. Henry T. Perea of Fresno. The drought has hit every part of California hard, but the Central Valley has been particularly devastated. A recent Fresno Bee article detailed the tragic case of East Porterville residents whose wells have run dry