Chriss W. Street

Chriss W. Street

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AP/Charlie Neibergall

Democrats Hope Hillary Clinton Raises $100s of Millions from Wall Street

The first fundraising numbers for Hillary Clinton’s White House bid will not be posted until July, but Wall Street took leadership roles in fundraising for both of her New York Senate campaigns, and nine of Mrs. Clinton’s top 20 donor organizations in her 2008 presidential bid were financial services firms. But after six years of a Wall Street donation boycott in retaliation for passing Dodd-Frank, Clinton is the Democrats’ best hope for reviving access to $100s of millions from Wall Street’s firehose of political donations.
AP Photo

Report: Drought Will Have Little Impact on California Economy

There has been lots of hubbub in the last two weeks about California’s economy drying up and blowing away like sagebrush after four years of drought. But the nonpartisan Legislative Analyst’s Office (LAO), which provides budget advice to state lawmakers, announced that “We currently do not expect the drought to have a significant effect” on the state’s budget or overall economy. The reason: agriculture is only a small piece of the economy.
Xinhua/Guo Chen/AFP

Report: ‘Real’ China GDP Shrinks as Demand Collapses

Lombard Street Research (LSR) has reported that China’s “real” (after-inflation) GDP actually fell -0.2% for the quarter ending March 2015. Despite the official government claim of +1.3 percent growth for the quarter and +7 percent annualized growth. China’s quarterly performance
AP Photo/Charles Dharapak

The Real Elizabeth Warren Stands up to Trash Wall Street

Senator Elizabeth Warren (D-Mass) has not commanded much public attention since Hillary Clinton started channeling Warren’s book, Fighting Chance, which claims the “system is rigged” against the middle class because it is controlled by and for the elites who tilt the game in their favor. But in a bold effort to take all the oxygen out of the Clinton campaign, Senator Warren (D-Mass.) laid out a bare-knuckles legislative road map on Wednesday to kick Wall Street in the teeth.
AP Photo

Netflix Stock Streams Higher, Adding Almost 5M Subscribers

Netflix, Inc. beat its aggressive prediction that it would add 4 million new streaming subscribers in the quarter ending March by adding 4.88 million subscribers. After shares leaped 47% over the past three months, the fabulous numbers sent the stock up about 11 percent to $531 in after-hours trading on Wednesday.
android-reuters

EU Pursues Google for Antitrust After Leaked FTC Report

Google thought it had agreed last year with European competition regulators that the company's 90% dominance of Internet searches was “not an illegal business.” But new European Union antitrust chief Margrethe Vestager sought to put Google in chains on Wednesday by accusing the company of abusing its dominance in web searches to the detriment of competitors.
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Study: Over 27% of Student Loans Are in Default

A university degree was once perceived as the social elevator to a higher net worth. But the Federal Reserve Bank of New York estimates that 40 million Americans have racked up an average of four loans with an outstanding net balance of $29,000 to obtain a college education.
Owen Humphreys/PA Wire URN:15449317 (Press Association via AP Images)

Boeing Union Organizing Effort Collapsing in South Carolina

The International Association of Machinist (IAM) were cocky on March 17 when they filed petitions with the National Labor Relations Board for a vote to organize 3,175 jet assembly workers at the Boeing Company’s nonunion factories in South Carolina. But with a week before the April 22 vote and panicking that they are about to lose, the union is on the verge withdrawing the vote.
AP Photo/dpa,Wolfgang Kumm

China Launches ‘Great Cannon,’ Internet Weapon Leaked by Snowden

China recently flooded American websites with a barrage of Internet traffic known as a “denial of service attack” to block providers that allowed China’s Internet users to circumvent websites blocked by government policies. The action was initially thought to be another example of China’s use of a program called the "Great Wall." But academic researchers have determined that China appears to have reverse-engineered the capabilities of a powerful National Security Agency (NSA) program that was first described to the public in the leaked Edward Snowden files two years ago.
J Pat Carter/AP Photo

American Economy Still Down by 5.9 Million Jobs Since 2008

The Bureau of Labor Statistics (BLS) just published the Job Openings and Labor Turnover Summary (JOLTS) report for February. The job openings percent for the workforce hit a 14 year high of 5.1 million, while the layoffs and discharges percentage stayed at a historic low. But despite the job availability rate more than doubling since 2009, the hiring rate only grew by 30 percent in the same period. Adjusted for population growth, the American economy is still down by 5.9 million jobs.
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California State Departments Funded Raises with Ghost Employees

Seven months after a Sacramento Bee investigation revealed how State of California departments play a personnel shell game to pad their budgets with millions in tax dollars earmarked for staffing salaries, an audit released Friday on the Department of Finance’s website confirmed that phantom employees are very widespread, and some of the cash allocated for salaries has been used to pay for raises and other unauthorized spending instead.
California drought (AP)

NOAA Warning: Strong El Niño Could Turn Drought into Mass Flooding

On April 9, the National Oceanic and Atmospheric Administration (NOAA) officially declared a strong El Niño advisory reflecting substantially above-average surface sea temperatures forming across the equatorial Pacific. This means that there is a 60 to 70 percent probability that America could experience a monster winter like the El Niño that hit in 1997-1998, causing torrential rains in the Southeast, ice storms in the Northeast, tornadoes in Florida, and mass flooding in California.
CalPERS (Reuters / Max Whittaker)

CalPERS: Actuaries Demand 10 Percent Annual Funding Increases

Despite hot stock market gains over the last three years, California Public Employees’ Retirement System (CalPERS) actuaries just demanded that public pensions increase funding by a stunning 10 percent next year and make similar annual increases for each of the next 5 years due to an inappropriate “assumption.” That means that CalPERS’ annual payment could leap 61% from $4.5 billion this year to $7.25 billion in five years.
Dodd Obama (Jeremiah Roth / Flickr / CC)

Hollywood Swinging Hard for Trans-Pacific Partnership

Hollywood moguls and the vast majority of leftist entertainers have joined forces in a last-ditch effort to bully wavering Democratic lawmakers into backing President Obama's fast-track authority for the Trans-Pacific Partnership (TPP) as the centerpiece of what he calls his “pro-trade agenda.”
AP

Presidential Preview? Carly Fiorina Bashes Jerry Brown over Drought

Carly Fiorina, former Hewlett-Packard CEO and possiuble Republican presidential candidate, recently blasted “liberal environmentalists” who are “willing to sacrifice other people’s lives and livelihoods at the altar of their ideology” during California’s water crisis." Fiorina’s campaign is specifically targeting Governor Jerry Brown’s difficult political choices in handling the drought--with a possible view to undermining his own potential presidential campaign.
AP Photo

Banks Raising Sub-Prime Credit Card Limits, Again!

The Office of the Comptroller of the Currency (OCC), which regulates the financial risks posed by the lending activity of American national banks, has officially reported that banks are expanding sub-prime credit by raising borrowing limits for credit card holders. The new concerns follow an OCC report last June that flagged “problematic” recent high-risk corporate takeovers, car loans through auto dealers, and commercial finance lending.
Charles Meyer Desalination Facility (City of Santa Barbara)

Desalination Gains Gov. Brown’s Support for Long-Term Drought Relief

With the Sierra Nevada snowpack at its lowest level since 1950, California Governor Jerry Brown announced last week that he would implement the first mandatory water reductions in state history. But Brown also called on districts to streamline permitting practices for water projects, and to invest in new water infrastructure technologies. Brown’s comments amount to his first vocal support for widespread desalinization.
Tim Cook, Apple Watch (Associated Press)

i-Watch Could Let Managers Snoop on Employees

UPS is probably America’s premier example of how Fred Taylor’s scientific management methods are being applied using “telematics” to break down every worker task to eliminate all un-essential movements--and then use the right tools, training and incentives to achieve optimum workflow productivity and dump excess Teamster members. By giving their employees an Apple i-Watch, managers across almost all industries could soon be using telematics to increase productivity and dump employees.
AP Photo/Ng Han Guan

California and Norway May Drop Tesla Incentives for the Rich

Government cash “incentives” have been the key to Tesla’s initial success, because buyers can often use the incentive and rebate payments to meet their down-payment for a $100,000 vehicle. But incentives may be reduced or terminated in the company’s biggest markets in California and Norway that represent 25 percent of sales.
Domenico Tiepolo (1773)

Gov Jerry Brown’s Healthy Work Law is Union Trojan Horse

Governor and stealth Presidential candidate Jerry Brown last September passed the “Healthy Workplaces, Healthy Families Act,” It declares employees in companies of all sizes must receive at least three paid sick days, which appears to be a huge expansion of the welfare state. But the law’s exemption for unions is aimed at forcing small businesses into healthy union workplaces.
Dodd-Frank (Reuters)

Dodd-Frank Hurts Latino and First-Time Home Ownership

According to the California Realtors’ home ownership affordability report, only 28 percent of Los Angeles residents can afford to buy a home in Los Angeles, due to the combination of low inventory and the fact that the Dodd-Frank Consumer Protection Act made it much harder for immigrants and first-time buyers to qualify for a loan.

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