Chriss W. Street

Chriss W. Street

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Covered California

CalPERS Could Owe Obamacare $770 Million in “Cadillac Tax’

California government entities and their unions are panicking because Obamacare’s punitive 40% “Cadillac Tax” beginning in 2018 will directly hit the low-deductible and broad-provider network type of “platinum” healthcare coverage that public employees have enjoyed under the California Public Employee Retirement System (CalPERS).
AP Photo/Michel Euler

Rising Economic Power Means Women Will Dominate Silicon Valley

Media observers are claiming that Ellen Pao’s loss in her $160 million gender discrimination claims against her former venture capitalist employer Kleiner Perkins Caufield & Byer means a dark future for women in Silicon Valley. But women already control 36 percent of small businesses, hold 50 percent of all management positions and account for 60 percent of college students. With rising economic power, women seem destined to eventually dominate Silicon Valley and much of American business.
Christian Sanfilippo

Silicon Valley: Dot-com 2.0 Crash Looms as VC Tech IPOs Dwindle

Earlier this week, Breitbart News broke described how hedge funds paid too much for venture investments and are actually losing money on many public offerings. Now a new report by called "Are IPO down rounds to blame for dearth of VC tech IPOs?" reveals that the number of venture-backed tech companies seeking to go public is dwindling to a trickle. If the initial public offering (IPO) window closes, Silicon Valley could face a Dot-com Crash Version 2.0.
John Doerr (Matt Rourke / Associated Press)

Silicon Valley’s Kleiner Perkins Wins Gender Discrimination Lawsuit

In a shockingly short deliberation for such a highly-visible gender discrimination lawsuit, a San Francisco jury of six women and six men ruled against former junior partner Ellen Pao on Friday on the three most important claims brought against the prestigious Silicon Valley venture capital firm of Kleiner, Perkins, Caufield and Byers.
Long Beach Port (Jae C. Hong / Associated Press)

Port Strike Over, But Shipping Bottleneck Still Costing Jobs and Billions

Despite the February 21 settlement of a bitter labor dispute at West Coast ports between employers and members of the International Longshore and Warehouse Union (ILWU), whose members command average wages and benefits of about $1,200 a day, the continuing bottleneck is still causing job and revenue losses across many US industries.
AP Photo/Matt Rourke

Cord-Cutting and Cable-Bill-Cutting Are All the Rage

The Wall Street Journal recently published a strange piece called "Why Cable TV Beats the Internet, For Now." Despite pay-TV losing 1.4 million customers last year, it seems the WSJ is device-challenged and unwilling to embrace the obvious future dominance of Internet streaming media. And the war to discount your cost for pay-TV is heating up.
Jesse Jackson

Silicon Valley: Ground Zero for Diversity Lawsuits after Ellen Pao

The five-week-long and very salacious trail against Kleiner Perkins Caufield & Byers for alleged sexual discrimination against Ellen Pao went to the jury Wednesday. The former junior partner is demanding $16 million for sexual discrimination and up to $144 million for punitive damages. Her suit has paved the way for a coming tsunami of diversity litigation across Silicon Valley.
Jason Harper

NYC Hedge Funds Risk ‘Down Rounds’ in Silicon Valley Deals

Following Benchmark Capital partner Bill Gurley's warning last week at the South-by-Southwest conference (SXSW) that “we are in a risk bubble”, Bloomberg, the Wall Street Journal and the New York Times all sounded the claxon horn Monday morning that New York hedge funds and mutual funds are flooding into late-stage venture capital-back tech companies in the futile hope of making a killing when the firms go public.
Mercedes EV (Kevin Gimbel / Flickr)

Mercedes Challenges Tesla with Plug-in at Half the Cost

Competition is about to crank up in the emerging plug-in luxury vehicle sector, with Mercedes debuting its C350e plug-in hybrid-electric sedan this September at about half the cost of Tesla Model S sedan. Mercedes will also become the first car company to deliver diesel powered full-size sedans and SUVs at discounts to gasoline equivalents.
Jerry  Brown ull

Brown Blasts Republicans on Climate–but Silent on His Oil Fortune

Potential Democratic Presidential candidate Gov. Jerry Brown told NBC News' Meet the Press on Sunday that a letter that Senate Majority Leader Mitch McConnell (R-KY) sent to all 50 governors urging them to block or ignore the Environmental Protection Agency's proposed carbon pollution regulations was “a disgrace.” Brown is somewhat of a hypocrite on the issue, because his family’s wealth reportedly comes from control of two huge imported oil trading firm.
AP Photo/Dario Lopez-Mills

Sidley & Austin at Risk of $40 Million Malpractice Claim

U.S. District Judge Orlando Garcia in February 2014 ruled that AT&T Inc. was ineligible to appeal a $40 million patent verdict in favor of Two-Way Media LLC because its attorneys from Sidley & Austin LLP and Davis Cedillo & Mendoza Inc. failed to file an appeal by the court’s deadline. Sidley & Austin LLP appealed what is essentially its malpractice based on the court’s electronic docket lacking full disclosure of the court’s order. But in a split panel decision, Federal Circuit refused to reverse the decision.
AP Photo/Jens Meyer, File

FTC Leak Suggests Google Searches are Biased, Discriminatory

In what is sure to lead to a customer scandal and heighten a U.S. Antitrust Probe, Federal Trade Commission (FTC) staffers determined in an undisclosed report that Google, Inc. allegedly used an algorithm to manipulate search results to favor their own less relevant search over competitors. The alleged Google fraudulent practice only became public when FTC staffers inadvertently shared the document with the Wall Street Journal.
San Bernadino (Lucy Nicholson / Reuters)

Inland Empire Job Growth Soars; Only Outpaced by Silicon Valley

A year ago, the Inland Empire cities of Riverside and San Bernardino were ranked as "Among Slowest To Recover Since Recession," in unemployment rates, median income and home prices. But those low costs have sparked a new economic boom as Riverside and San Bernardino counties’ job growth now only trails the Silicon Valley tech hubs of Santa Clara and San Francisco counties, according to a report released Thursday at an Ontario economic conference.
AP Photo/Hasan Jamali

Ted Cruz, Jim Bridenstine Push Back Against Climate Change Alarmists with ‘American Energy Renaissance Act’

Opposition to U.S. energy expansion has been growing, despite American fracking driving world energy prices down by 60%. But Senator Ted Cruz (R-Texas) and Representative Jim Bridenstine (R-OK) are taking a leadership role by introducing a 14 point ‘American Energy Renaissance Act’ to remove federal impediments to energy exploration, development, and export.
Fracking Protest 2014 (Brooke Anderson / Flickr)

Low Oil Prices Ahead as Fracking Breaks Even at $25/Barrel

The U.S. Energy Information Administraiton (EIA) has released a Drilling Productivity Report (DPR) that shows the U.S. drilling rig count in the four major “tight-oil” regions of the Permian, Eagle Ford, Bakken, and Niobrara fields fell 32%, from their October peak of 1160 to 780 rigs. However, despite a 65 percent crude oil price decline and the rig count at the lowest level in almost four years, the EIA predicts that production from these four regions is 500,000 barrels per day higher than in October. That translates to a $25 per barrel break-even price, meaning U.S. crude oil prices will remain low.
Richard Simmons and California Raisin (Ezio Petersen / UPI)

Supreme Court May Dump Raisin Price Controls

One of the pleasures of driving up Highway 99 is to stop in Selma, California at the Sunkist Raisin Store to buy the biggest and juiciest chocolate covered raisins on earth. But it seems that no all is copacetic in Sun-Maid Raisin land these days. The Supreme Court is beginning to review rules associated with a growers' co-op that could spell the end of cartel management of raisin supply and pricing.
AP Photo-Shizuo Kambayashi

SXSW Doc Trashes Steve Jobs as ‘The Man in the Machine’

The world premiere of Alex Gibney’s "Steve Jobs: The Man in the Machine" at South-by-Southwest in Austin was expected to be a celebration of the life and times of the departed founder of Apple Inc. Instead, the movie trashes Jobs and ridicules the global outpouring of emotion that greeted the Apple leader's 2011 death. Gibney slimes Jobs as less than rock star or a writer of fiction, “but merely a man who sold us things.”

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