July 12, 2000 |
In one of the first solid signs that the local economy may be slowing, a new survey in Orange County shows that higher interest rates and the volatile stock market are eating into profit margins and forcing some companies to scale back their expansion plans. Predictably, finance, insurance and real estate firms have been hit hardest by the rate hikes, according to a poll released Tuesday by the UC Irvine Graduate School of Management.
July 9, 2000 |
The glass offices and modern industrial parks that dot Orange County give every impression that the area is an American mecca for high technology, embodying the bold dreams set out by civic promoters decades ago. But behind this high-tech facade and its blazing economy, Orange County has achieved only a glimmer of its promise. The county can't claim a single blockbuster company such as Intel, Microsoft, Qualcomm or Dell Computer.
June 28, 2000 |
Orange County's economy should continue to expand next year, but rising interest rates threaten to slow job growth to its lowest level since 1995, Chapman University economists said Tuesday. If the forecast is correct, it would mark the county's third consecutive year of declining job growth. "Obviously, we're in a downdraft," said Esmael Adibi, head of Chapman's Anderson Center for Economic Research. "But the expansion should continue into 2001 with no signs of a recession."
June 27, 2000 |
In one of Orange County's largest job cutbacks in recent memory, Boeing Co. said Monday that it will erase up to 900 jobs in Huntington Beach over the next two years, as the company shifts work on the Delta rocket and C-17 military aircraft to Colorado and Alabama. Boeing said the cuts in Huntington Beach are part of a consolidation of manufacturing operations that began in 1998, shortly after the Seattle-based giant acquired rival McDonnell Douglas.
June 2, 2000 |
Signs of an economic slowdown may be mounting, but Orange County residents sure aren't feeling it. Consumer confidence in the county rose to the highest level since 1986, according to UC Irvine's annual survey released Thursday. The poll, which measures residents' attitudes about the U.S. economy and their own financial condition, found widespread positive feelings among local consumers, particularly among the most affluent and among Latinos.
April 26, 2000 |
The "new economy" may be headquartered in the West, but the nation's wealthiest counties are still concentrated in bastions of "old money" in the East. In a study released Tuesday, researchers found that 20 of the wealthiest counties, as measured by per-capita income, are east of the Mississippi, mostly on the East Coast. Three Bay Area counties made the top 25, but Southern California was far down the list, according to a survey by the Washington market research firm Woods & Poole Economics.
CALIFORNIA | LOCAL
April 8, 2000 |
Who says scholarly work has to be boring? A new $800,000 study has researchers out in the sun and sand to quantify the value of a day at the beach. As summer approaches, a team of economists, scientists and environmentalists has begun examining how people use beaches in Orange and Los Angeles counties and what the experience is worth to them in dollars.
CALIFORNIA | LOCAL
March 30, 2000 | ,
A report presented to Orange County planning commissioners Tuesday warns that the county's housing crisis could take its toll on the local economy by driving residents--and jobs--elsewhere. Planning Commissioner Ben Nielsen said the county must start focusing on ways to solve the problem and said that may include finding ways to spur development. "One of the things that could happen is to build houses on smaller lots," Nielsen said following the meeting.
March 30, 2000 |
While crime remains at its lowest level in two decades, homicides in Orange County's largest cities inched up in 1999 for the first time in six years--a possible indication that the much-heralded plunge in violent crime is leveling off. A new state report released Wednesday shows that the county's total violent crimes dropped 2% in 1999--a much smaller decrease than the state average. Meanwhile, homicides rose 7% to 60 and the number of rapes jumped 14% to 331.