September 20, 2013 |
Since the economic disaster of 2008 sent incomes spinning downward and the jobless rate shooting upward, at least one group of Americans has found a path back to prosperity: the top 1%. Over the last four years, the super-rich have been able to rake in 95% of all income gains. That's right, according to a new study by Emmanuel Saez, an economics professor at UC Berkeley, while the number of poor Americans has risen and members of the middle class...
CALIFORNIA | LOCAL
September 20, 2013 |
Cool guy, that new pope. Wish those House Republicans would spend some time studying the interview Pope Francis gave to the Italian Jesuit journal La Civita Cattolica that was published online by America, a U.S.-based Jesuit publication. They might learn a few things about compassion, priorities and how to be real Christians. Francis thinks the church, to its detriment, is “obsessed” with its battles against abortion, gay marriage and contraception. “The teaching of the church is clear,” he said.
September 19, 2013 |
Bob Biggs, the founder of Slash Records, has listed his ranch in Tehachapi for sale at $2.25 million. The 80-acre spread centers on a three-level concrete home designed by Santa Monica architect Carl Day and built a decade ago. Features include three ground-level fireplaces, loft offices, a library/den, three bedrooms and three bathrooms in nearly 3,900 square feet of living space. A deck runs almost the length of the house. Exterior metal doors can be rolled down for fire protection.
September 17, 2013 |
LOGAN, W.Va. - When President Obama laid out ambitious plans in June for combating climate change, coal miners like Roger Horton heard what they considered the latest fusillade in the administration's "war on coal. " Until his retirement two weeks ago, Horton, 59, worked underground for decades in southern West Virginia's Logan County, then operated a 200-ton earth-moving truck to remove debris from blasted mountaintops. A milestone in Obama's initiative will come this week, when the Environmental Protection Agency is expected to issue rules limiting emissions from new power plants.
August 30, 2013 |
The state of California and the Bank of America have a lot in common, says BofA Chief Executive Brian Moynihan. Both were all but written off by critics as the economy tanked. Both endured painful budget cuts and remain hampered by unemployment and housing issues. And yet each is now well positioned as the economy recovers, according to Moynihan, who spoke to The Times during a recent round of visits with California business owners and venture capitalists. Despite lingering image problems, BofA is gaining traction, Moynihan says, thanks to what he calls "addition by subtraction.
CALIFORNIA | LOCAL
July 22, 2013 |
The man who was granted California's biggest public pension isn't giving it up without a fight. Bruce Malkenhorst took home more than $911,000 a year as city manager of the tiny city of Vernon. His reign ended shortly before he was convicted of misappropriating public funds, and he walked away with an annual pension that eventually topped $500,000, the largest in the California Public Employees' Retirement System. But CalPERS last year decided to cut his pension to $115,000, concluding he'd derived some of his hefty salary improperly.
July 15, 2013 |
Monday tech news kicked off with a significant price cut to the Microsoft Surface RT tablet and a report that a woman in China was electrocuted while using her iPhone. Microsoft cuts price of Surface RT by $150 Microsoft reduced the price of its Surface RT tablets this weekend by $150. It's cheapest model now starts at $349, but there are plenty of other great tablets that start around that price. Chinese woman electrocuted using iPhone A 23-year-old woman in China was reportedly killed when she answered a call on her iPhone 5 while it was plugged into the wall for recharging.
July 15, 2013 |
Following a major company restructuring last week, Microsoft has cut the price of its Surface RT tablets by $150. The Surface RT is the light version of the company's flagship tablet, running a limited version of Windows 8 operating system. The base model, a 32-gigabyte version of the tablet, has been reduced from $499 to $349; the 64 GB model has had its price cut from $599 to $449. The 32 GB model with a keyboard has been cut from $599 to $449 as well; the 64 GB model with a keyboard is now $549, down from $699.
July 12, 2013 |
Ford Motor Co. will knock $4,000 off the price of its 2014 Focus electric cars, slated to hit dealers' lots in a few weeks. With destination charge included, the base model will now cost $35,995. In a statement Thursday, a company spokeswoman said the lowered price of the “fully-contented” cars “keeps us competitive in the marketplace and is an important part of our commitment to provide customers with a range of electrified vehicles to choose from.” The electric Focus has lagged far behind other battery-powered competitors, selling just 177 of the 2013 model cars in June.
June 19, 2013 |
A Senate bill meant to offer a pathway to citizenship for the estimated 11 million people in the U.S. who entered illegally or stayed on expired visas could trim the deficit by about $175 billion over the next 10 years, according to a federal report. The report from the Congressional Budget Office and Joint Committee on Taxation also found federal budget deficits would decrease by about $700 billion from 2024 to 2033. “However, the net impact of the bill on federal deficits would depend on future actions by lawmakers, who could choose to appropriate more or less than the amounts estimated by CBO,” the report said.