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Scrip

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CALIFORNIA | LOCAL
May 16, 1996
In a move to improve spending in the African American community, an Inglewood-based advocacy group has started issuing scrip redeemable at businesses in the black community and at establishments that hire from the area. Recycling Black Dollars kicked off its scrip campaign last week and so far more than 100 businesses have signed up to participate. Nearly $1 million in scrip has been printed.
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BUSINESS
January 15, 2011 | By Alana Semuels, Los Angeles Times
Located almost in the dead center of California, North Fork is like a lot of other rural outposts: It's losing businesses and hopes for a turnaround. But there's nothing typical about the town's biggest booster, Josh Freeman. His efforts to resuscitate this tiny town include launching a local currency emblazoned with butterflies and hummingbirds in a bid to keep wealth in the community. Freeman grew up in Pacific Palisades and drives a car powered by vegetable oil. Until a few months ago he wore dreadlocks down his back.
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NEWS
March 21, 1986
Denny's Inc. can issue scrip instead of cash to settle a class-action lawsuit brought by disgruntled former shareholders who thought they were shortchanged in a 1985 merger, a Los Angeles Superior Court judge ruled. The scrip, with a total face value of approximately $3.1 million, will be issued as a form of discount coupons to more than 4,000 shareholders at the rate of 20 cents per share of Denny's common stock owned immediately before the merger under which they were paid $43 a share.
BUSINESS
July 21, 2009 | Tom Petruno
Buyers have been lining up to take California's IOUs off the hands of individuals, companies and other recipients. But so far, the IOU holders aren't very interested in selling -- perhaps because of expectations of a budget deal out of Sacramento soon. SecondMarket.com, which created an electronic marketplace for the state's IOUs on Wednesday, said it hadn't yet recorded a single trade.
BUSINESS
December 5, 2005 | Michael Hiltzik
If you're a parent of school-age kids, fundraising with scrip is an inextricable part of your life. You buy groceries or Christmas gifts from retailers that issue these vouchers at a discount to your PTA, which sells them to you at face value and keeps the difference to spend on a paint job for the multipurpose room, or a computer for the school library, or an art teacher's salary.
NEWS
January 17, 1998 | KEN ELLINGWOOD and PETER Y. HONG, TIMES STAFF WRITERS
The bake sale is toast, the jog-a-thon tired. When it comes to raising cash for schools, churches and other grass-roots charities, the hottest game around these days is scrip. Using currency similar to gift certificates and blending charity with consumerism, the scrip system has revolutionized the way thousands of small organizations raise cash to support themselves.
NEWS
August 28, 1992 | STEPHANIE SIMON, TIMES STAFF WRITER
The money crisis started slowly in this ancient city set on the steep wooded banks of the Volga River. In May, factory directors announced they didn't have enough cash to pay workers. After months of postponed paydays, people complained that they didn't have enough money to buy food. Soon afterward, store managers began to worry aloud that they wouldn't have enough rubles to pay their suppliers. Ever so painfully, the economy was grinding to a halt, for want of legal tender to buy and sell.
NEWS
March 20, 1986 | DOROTHY TOWNSEND, Times Staff Writer
When some owners of Denny's restaurant stock thought they had eaten losses in a merger last year, they filed a class-action lawsuit. Now some are angry at having to swallow the proposed settlement of their suit. Lawyers for both sides have proposed that the 4,000 former stockholders be issued scrip worth 20 cents a share and redeemable for meals at the 1,000 Denny's restaurants in 43 states over the next three years.
NEWS
May 16, 1987 | ELLEN MELINKOFF
UCLA's Mardi Gras is a high-spirited carnival for the whole family. From roaming Smurfs to daredevil rides like the Falling Star, the weekend festival at UCLA's Athletic Field is packed with old-fashioned sideshow atmosphere. The focus is the 75 or so food, game and show "booths"--a definite understatement, since most of these are elaborate theme structures that get better every year, thanks to competitive spirit among the fraternities, sororities and other groups that sponsor them.
BUSINESS
July 9, 1992 | MICHAEL SCHRAGE
Just like Disneyland, California now has its very own currency. But where Disney mints millions of its "Disney Dollars" for frolicking theme park families, the state of California has issued millions in IOUs to unhappy creditors. So which currency offers the better long-term value: public or private?
BUSINESS
July 16, 2009 | Tom Petruno
A trading firm Wednesday launched an online marketplace where people can buy and sell IOUs issued by California's cash-short government. SecondMarket Inc., which operates a number of markets for illiquid assets, is offering its SecondMarket.com site as a venue where holders of the state's scrip can sell it to investors. The New York company is registered as a broker-dealer with the Securities and Exchange Commission, so it is subject to the agency's trading oversight.
BUSINESS
July 7, 2009 | W.J. Hennigan
An informal market is springing up online for the IOUs that cash-strapped California began issuing last week, attracting the attention of regulators and state officials. Meanwhile, the state's bonds moved a step closer to "junk" status because of the budget mess that has prompted the state to pay tax refunds and other obligations with the vouchers. Would-be buyers of the scrip, officially called registered warrants, have expressed their interest on Web marketplaces including Craigslist and EBay.
CALIFORNIA | LOCAL
July 2, 2009 | Michael Rothfeld and Shane Goldmacher
After trying for weeks to fix a state budget gone out of control, Gov. Arnold Schwarzenegger and state lawmakers stood frozen in conflict Wednesday with the state at the brink of a meltdown. A day after the state Senate failed in a late-night bid to close part of a deficit now projected at $26.3 billion, California Controller John Chiang took steps to begin issuing IOUs today to tens of thousands of companies and individuals that are owed millions of dollars by the state.
BUSINESS
December 5, 2005 | Michael Hiltzik
If you're a parent of school-age kids, fundraising with scrip is an inextricable part of your life. You buy groceries or Christmas gifts from retailers that issue these vouchers at a discount to your PTA, which sells them to you at face value and keeps the difference to spend on a paint job for the multipurpose room, or a computer for the school library, or an art teacher's salary.
NEWS
February 4, 2001 | LISA RATHKE, ASSOCIATED PRESS
Radha Tereska Buko gets her hair trimmed, art framed, help with her computer and an occasional massage for a few slices of bread. Burlington Bread. It's an alternative paper currency that allows people to barter their goods and services--from yoga and violin classes to catering and graphic design. Organizers say it boosts the local economy and promotes connections within the community.
CALIFORNIA | LOCAL
June 12, 2000 | WILLOUGHBY MARIANO, TIMES STAFF WRITER
Can't think of a Father's Day gift? Not sure if the graduate on your list wants a calculator or a Gameboy? Invited to a wedding for a friend of a friend? Consumers are increasingly turning to gift certificates to avoid the pitfalls of modern day gift-giving. With the gift-certificate business growing about 15% each year, consumers are sometimes left wrestling with the little-known laws governing the certificates.
NEWS
October 3, 1991
The Foothill Employees Federal Credit Union has joined a program of the Arcadia Unified School District to raise money by selling supermarket scrip. Program spokeswoman Cathy Tyson said Tuesday that local supermarkets, including all Vons and Ralphs stores, donate 6% of the scrip receipts to the Arcadia Educational Foundation. Until the union began participating Aug. 31, scrip was sold only at schools. Last year, the program raised almost $70,000 through selling more than $1 million in scrip.
CALIFORNIA | LOCAL
June 9, 1992 | MARESA ARCHER
A controversial plan to use scrip to buy goods from vendors at the Orange International Street Fair may not be implemented this year as expected. City officials announced Monday that the scrip system, which would replace cash at fair vending stands, will probably be postponed until the economy and attendance at festivals in the area improve.
NEWS
January 17, 1998 | KEN ELLINGWOOD and PETER Y. HONG, TIMES STAFF WRITERS
The bake sale is toast, the jog-a-thon tired. When it comes to raising cash for schools, churches and other grass-roots charities, the hottest game around these days is scrip. Using currency similar to gift certificates and blending charity with consumerism, the scrip system has revolutionized the way thousands of small organizations raise cash to support themselves.
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