CALIFORNIA | LOCAL
February 8, 2014 |
SALINAS, Calif. - Tony Salameh and Danielle Clark weathered the Great Recession from two worlds just a few miles apart. Salameh, 62, owns several restaurants in Carmel, the wealthy hamlet perched like a small jewel overlooking the sea. After a significant falloff, business is about where it was five or six years ago. Salameh's bottom line, though, is a third what it used to be; tourists are back in force, but they order lamb sliders or spring rolls...
February 7, 2014 |
While other sectors of the U.S. economy have yet to completely rebound from the recession, the travel industry has surpassed its pre-recession employment numbers. U.S. Department of Labor figures released Friday show that the travel industry added 7,000 jobs in January, reaching a total of 14.6 million. The same report revised previous data, showing that the industry stands 11% above the employment peak of February 2008. Much of the growth has been fueled by international travel to the United States, especially spending by visitors from China, Brazil, Japan and Australia.
January 19, 2014 |
The stock market has hit sky-scraping highs, the unemployment rate has dipped to a five-year low and any number of economic statistics - new car sales, home prices, consumer spending - point to a perked-up economy that is steadily growing. But one thing that has changed little is President Obama's job approval rating, which tumbled over the last year to the anemic 40% range and remains stuck near the low point of his administration. The chasm is striking, and a worrisome thing for Democrats already facing a tough election year.
January 19, 2014 |
Few regions were hit harder by the Great Recession than the Inland Empire, where foreclosures turned neighborhoods into ghost towns and real estate projects dissolved into weeds and broken dreams. So it's not surprising that four of the five largest banks in the region failed, sunk by risky subprime mortgages and failed construction loans. Citizens Business Bank was the exception. The bank, operated by holding company CVB Financial Corp., limited construction and land development loans to no more than 10% of its portfolio, far less than many of its peers.
January 16, 2014 |
In 2013, films such as "The Wolf of Wall Street," "Spring Breakers" and "Pain & Gain" showed us the corrupting power of cash. The just-scraping-by stress articulated by New York rock band the Parquet Courts, on the other hand, captures the souls who just can't get a break - a soundtrack for twenty- and thirtysomethings who graduated college and have found dead-end jobs rather than a career. There's humor, but it isn't always pretty. Stoned, starving and facing a meal that's little more than a bag of Swedish Fish, the souls that populate the Parquet Courts' most recent full-length, "Light Up Gold," are all on a mission of sorts, but what they're searching for often isn't clear.
January 13, 2014 |
WASHINGTON - The Supreme Court hinted Monday it may move to limit a presidential power used since the days of George Washington to fill high-level vacancies during Senate recesses. A top Obama administration attorney ran into sharp skepticism from justices while defending the presidential power, granted in the Constitution, to bypass the Senate and make recess appointments when lawmakers are not in session. Use of this power has grown more controversial in recent decades as both Republican and Democratic presidents have clashed with Senates controlled by the opposing party.