CALIFORNIA | LOCAL
May 2, 2013 |
SACRAMENTO - California has been flooded with revenue this tax season and is on track to finish the fiscal year with a surplus of billions of dollars, according to officials. State coffers contain about $4.5 billion more than expected in personal income tax payments. Nearly $2.8 billion of it arrived April 17, the third-highest single-day collection in California history, according to government figures. Business taxes have also rebounded and are likely to be $200 million ahead of projections.
October 19, 2012 |
WASHINGTON - A strong fundraising push and a light presence on the airwaves enabled Restore Our Future, the “super PAC” backing Mitt Romney, to end September with replenished coffers, setting the stage for its October spending blitz. The group pulled in $14.8 million and spent just $4.1 million on ads, ending the month with $16.6 million in the bank, according to filings submitted Friday to the Federal Election Committee. That's a much healthier cash outlook than Restore Our Future's previous month; in August, the group spent three times as much as it took in and ended the month with just $6.3 million on hand.
June 29, 2012 |
Independent mortgage bankers and the home-loan arms of major banks are making the highest profit in years on loans they make and then sell, thanks to rock-bottom interest rates. The record-low rates have been a recent boon to borrowers, who have enjoyed 30-year fixed-rate loans starting with a "3" for the first time. But the rates could be still lower if lenders cut their profit margins, according to data released Friday by the Mortgage Bankers Assn. Instead, bankers have been making extra money by keeping the rates higher than necessary, which makes them more profitable when they are sold to Fannie Mae, Freddie Mac or other buyers in the secondary markets, the Mortgage Bankers Assn.
May 30, 2012
Venice Beach features a boardwalk, a skate park and basketball courts along its wide, sandy shore. And if Los Angeles City Councilman Bill Rosendahl has his way, it will get another attraction by the Fourth of July - a zip line, offering a 720-foot-long, barely one-minute joy ride above it all. A 44-foot launch tower planted near the skate plaza would zip riders over grass and pedestrians to a landing pad near the basketball courts. City officials hope that as many as 400 riders daily will pay $20 to take a ride.
CALIFORNIA | LOCAL
March 3, 2012 |
Approaching retirement, Ventura County Chief Executive Marty Robinson was earning $228,000 a year. To boost her pension, which would be based on her final salary, Robinson cashed out nearly $34,000 in unused vacation pay, an $11,000 bonus for having earned a graduate degree and more than $24,000 in extra pension benefits the county owed her. By the time she walked out the door last year, her pension was calculated at $272,000 a year ...
CALIFORNIA | LOCAL
January 15, 2012 |
The future of California's public schools, universities and health programs could be linked partly to the fictional town of FarmVille. The popular virtual world is the creation of Zynga, a San Francisco online game company that raised $1 billion in an initial public stock offering last year. Because California receives much of its income from capital gains taxes, such moves by businesses like Zynga can mean hundreds of millions of dollars for state coffers. More California technology companies are poised to go public this year - including a widely expected $10-billion offering from Facebook - than at any time since the dot-com boom, experts say. Their success could relieve state officials of the need to cut state services more deeply in the budget year that begins in July, but Gov. Jerry Brown and his fellow Democrats are already squaring off over whether to count on the fruits of those transactions.