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Chriss W. Street

Chriss W. Street

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Jerry Brown

California Budget in Deficit as Silicon Valley Falters

The bipartisan Legislative Analysts’ Office has announced that California’s 2015-16 personal income tax collection has fallen from a huge surplus to a $147 million deficit. The cause appears to be plummeting Silicon Valley capital gains and weakening tech employment.

jobs

January Job Cuts Double to Highest Level Since 2009

Despite an apparently level unemployment rate, a wave of corporate downsizing in the retail, computer, and telecommunication sectors pushed job-cuts to their highest level since the 105,696 layoffs last July, according to the latest report by the Challenger, Gray & Christmas, Inc. outplacement services.

AP Photo

First Porter Ranch Wrongful Death Suit Filed

The family of a 79-year old Porter Ranch resident filed the first wrongful death lawsuit against the Southern California Gas Company on Feb. 2 for contributing to her death. About 100,000 metric tons of methane gas has leaked into the atmosphere from the company’s facilities since October.

OC Register (Jae C. Hong / Associated Press)

Digital First Media to Bid Against Tribune for OC Register

The Digital First Media (DFM) conglomerate, which controls 800 multi-platform newspaper and media information products, announced that it is interested in bidding against the Tribune Corporation, which owns the Los Angeles Times, for control of the bankrupt Orange County Register newspaper. The owner

AP Photo

Amazon Hits Earnings Record, But Stock Tanks

Amazon set a quarterly earnings record of $1 a share on $35.7 billion in sales last quarter, but traders sent the stock plunging over 7% Friday after the e-commerce company missed Wall Street’s earnings estimates by 36 percent.

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Peak Apple iPhone Costs Shareholders $254 Billion

Despite announcing record quarterly sales through the end of 2015, the market valuation of Apple Inc.’s stock is down $254 billion since this summer. The company has now admitted revenue through March will be down by 10-15 percent as the iPhone sales stall.

REUTERS/DADO RUVIC

Twitter Loses Almost Half Top Executives On Sunday

Twitter’s CEO Jack Dorsey disclosed that almost half of Twitter’s senior managers are jumping ship, as the former #3 social media darling has fallen to #8 and monthly average users shrank by about 8 million since the end of October.

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Gordon Geckos of the World Unite for Biggest M&A Year

The China recession meteor has been hell for stock investors, but it is manna from heaven for the Gordon Gekko types on Wall Street that see bigger merger and acquisition opportunities from cheap valuations and rock bottom borrowing costs for big rich firms.

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Hypocrisy: Cal Dems Take Tom Steyer Mega-Checks

Democrats hypocritically blame the Supreme Court for the Citizens United v. Federal Election Commission (2010) ruling that supposedly allows money to dominate politics, but the biggest checks are being written to Democrats by Californian hedge fund billionaire Tom Steyer.

Capitol Dome, Sacramento (Joel Pollak / Breitbart News)

California Liberals Want Your IRA–Automatically

Covered California has been such a success at driving up healthcare premiums and blowing through $1 billion in federal subsidies that the state legislature’s liberal Democrats are poised to launch “Secure Choice” in an effort to take over Californian’s individual

John Kerry, Mohammad Javad Zarif

Iran Gets $215 Billion, West Gets Cheap Oil

The termination of nuclear sanctions means Iran will pocket about $215 billion in cash, sell another million barrels of oil a day (bpd), and produce 5 million more bpd within 10 years; while the West gets 20 years of cheap oil.