Chriss W. Street

Latest News

With Iraq Imploding, California Now Reliant on Oil Trains

In the time since our April expose titled “California: Here Come the Oil Trains”, pressure has been mounting on state and federal officials to disclose the number of hundred tank-car trains that are rumbling into California carrying highly combustible crude oil. But with California’s substantial supply of imported Iraq oil in peril of being cut off, the State of California on June 13 said it will be withholding all disclosures regarding the rapidly growing number of oil trains coming to California. Jun 16, 2014 5:19 AM PT

Resentment of Bay Area Drives 'Six Californias' Initiative

The U.S. Bureau of Economic Analysis just recognized California for being in the top half for GDP growth by state in 2013. Governor Jerry Brown likes to crow about California being a leader in nation economic recovery and job growth. But Brown avoids the fact that most of the recovery is along a narrow 48 mile strip of the 101 Freeway betwee Santa Clara and San Francisco counties, known as the “Bay Area.” Jun 12, 2014 3:10 PM PT

California Misses Budget for First Time in Six Months

The California State Controller has announced that sales, income and corporate tax revenue came in $530.4 million, 7.8%, below budget for the month of May. That substantial budget miss comes less than two weeks after the California Bureau of State Audits found a $31.65 billion in accounting misstatements. With Governor Brown and the Legislature battling over how to spend the state’s expected surplus, the Controller just announced that a big piece of that “fun money” just got wiped out. Jun 12, 2014 8:20 AM PT

David Welch: The Man Who Slayed California Tenure

Behind the conservative’s dream-come-true victory of tenure laws and union contracts for California’s public schools teachers being ruled unconstitutional Wednesday by a Los Angeles Superior Court, is an organization called Students Matter. The group is led and funded by Silicon Valley entrepreneur David Welch, who also sits on the national board of the ultra-liberal Natural Resources Defense Council. Jun 12, 2014 8:17 AM PT

6 Million Medicaid Enrollments Since Rollout of Obamacare

U.S. Centers for Medicare and Medicaid Services disclosed that 6 million people have signed-up for healthcare from Medicaid since the rollout of the Patient Protection and Affordable Care Act (Obamacare). Jun 9, 2014 10:09 AM PT

Silicon Valley's Andreessen calls Snowden 'Traitor'

While the U.S. technology industry now seems desperate to try to reign in spying programs after the retaliatory blowback of losing huge amounts of foreign commercial and government business, top venture capitalist Marc Andreessen is standing alone in calling Edward Snowden a "traitor" for leaking government secrets. Jun 8, 2014 5:00 AM PT

New 'Peak' US Jobs Leaves Another 7 Million Behind

Despite the hoopla about a new record for jobs, the “recovery” is really about the 11 million U.S. population growth and about 4.7 million seniors that are postponing retirement. It would still take another 7.2 million jobs for a real recovery. Jun 6, 2014 3:45 PM PT

Russia's Biggest Weakness Is Dependence on Visa and MasterCard

To most observers, U.S. and European economic sanctions have had minimal success in discouraging Russia from covertly interfering in the Ukraine. But sanctions have exposed Russia’s dependence on America’s Visa and MasterCard for processing about 56% of all transactions in Russia’s $2.3 trillion economy. Jun 6, 2014 12:37 PM PT

Lifting US Crude Oil Export Ban Would Spur US Production

IHS Consultants just published a report that lifting the U.S. oil export ban would cause U.S. crude oil production to rise by an average of 1.2 million barrels a day. The study argues that allowing crude oil exports would improve the fit between booming crude production and America’s lack of refining capacity. Jun 3, 2014 3:38 PM PT

New Jersey Financial Ratings on Credit Watch

Standard and Poor’s Credit Rating Service announced on June 2nd that the ratings on New Jersey’s general obligation (GO) bonds, appropriation-backed, and moral obligation debt were placed on Credit Watch with negative implications. The warning means that S&P could lower the ratings within the next 60 to 90 days depending on the outcome of the state’s budget deliberations and other developments. Jun 3, 2014 11:07 AM PT

Protesters Fight 'Bomb Trains' Hauling Oil Thru California

With energy projects cranking up, the Richmond protest against “bomb trains” is just the first of what promises to be a protracted battle over a slew of new carbon-based energy projects in the Golden State. Jun 2, 2014 4:59 AM PT

Meg Whitman Has the Easiest Job in Silicon Valley

Meg Whitman has, in fact, the easiest job in Silicon Valley: just keep cutting costs, and focusing on more profitable market segments and generating tremendous amounts of free cash flow for shareholders. May 29, 2014 9:01 AM PT

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