Scam Diego Entries for December, 2008

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Wall Street Journal Puffs Up Sam Wyly, Ignoring Offshore Tax Shenanigans Uncovered by Congressional Investigators

In a book review Dec. 29, the Wall Street Journal gives a rave review to "1,000 Dollars and an Idea," ...

San Diego Home Prices Back to Levels of March '03, Down 36% from '05 Peak

According to Standard & Poor's Case-Shiller data released this morning (Tues. Dec. 30), San Diego home prices in October were ...

City of Industry to Vote Jan. 20 on $500 Million Infrastructure Bond that Would Serve Planned New Stadium

Industry, California (also known as City of Industry) votes Jan. 20 on a $500 million infrastructure bond to serve the ...

Delicious Irony: SEC Clears San Diego Councilmembers at the Time the Public Is Learning What a Worthless Agency It Is

The Securities and Exchange Commission has ended its investigation into the involvement of San Diego's elected officials in the fraudulent ...

Lead Indicators of San Diego Economy Continue Steady Decline

The lead indicators of the San Diego economy, compiled by University of San Diego economist Alan Gin, continued to drop ...

County Unemployment Rate 6.9 Percent in November, Up from 4.9 Percent a Year Ago

San Diego lost 15,300 jobs in November from a year ago, and 2,200 from October, according to data from the ...

Gless, Powanda Sentenced for Roles in Peregrine Systems Fraud

Matthew Gless, former chief financial officer of Peregrine Systems, was sentenced today (Dec. 17) to 63 months in custody for ...

Ex-Madoff Trader, Now Running Cardiff Firm, Was Asked by Hedge Firms about Those Steady Returns

Steven Winters is the founder and managing partner of Gemini Strategies, a boutique Cardiff investment firm. His bio says that ...

Wall Street's Goldman Sachs, Which Got $10 Billion Government Handout, Paid Only 1% in Taxes

Here's one that should start a revolution. In October, Wall Street's Goldman Sachs, supposedly the best-managed investment firm (calling itself ...

San Diegan Who Spearheaded Tax Avoidance Schemes for Dentists and Doctors Indicted on Tax Charges

A federal grand jury today (Dec. 16) indicted former dentist L. Donald Guess on two counts of filing false income ...

Federal Reserve Essentially Admits It Is Fighting Depression, Not Simply Recession. It Lowers Interest Rate Target to Lowest Level Ever

The Federal Reserve today (Dec. 16), essentially admitted it is fighting a depression, not a recession. The central bank dropped ...

New Website Preserves Documents from Aguirre, Gwinn Administrations

There is a new website, www.sdcityattorney.com, that preserves documents created by former City Attorney Mike Aguirre. Importantly, this includes his ...

Copley Employees Likely to Get 5% to 15% Lower Lump Sum Benefits; If Company's Pension Plan Badly Underfunded, May Not Get Lump Sums at All

Yesterday afternoon, I posted an entry indicating that severely-ailing Copley Press will no longer be putting money into its defined ...

Copley Press Tells Employees It Will Put No More Money into Defined Benefit Pension Plan

Union-Tribune employees say they were told Friday via the Copley Press's electronic in-house communications system that the company will no ...

Melvyn Weiss, Once Co-Managing Partner of Notorious New York/San Diego Law Firm, Allegedly a Victim of Ponzi Schemer Madoff

According to the Wall Street Journal of Saturday/Sunday (Dec. 13-14) one of the persons who lost money in the alleged ...

Gardner Gets 8 Years for Peregrine Scam; His Lawyer Says Criminal Activity Going on Before Gardner Got There

Stephen Gardner, former chief executive of Peregrine Systems, was sentenced today (Dec. 11) to eight years and one month for ...

Moody's Says Singleton's MediaNews Almost as Sick as Tribune, Headed for Default

Moody's Investors Service said today that William Dean Singleton's Denver-based MediaNews Group will soon be in default on its credit ...

Goldsmith Continues Cheap Shots on City Website. He Criticizes Predecessor for Politicizing Office, Then Politicizes It Even More

Newly-elected City Attorney Jan Goldsmith is stepping up his political potshots even after being elected by a landslide, and even ...

Hedge Fund in Which SDCERA Has Money Puts up Barriers to Redemptions

The Composite International Fund of Wall Street's D.E. Shaw has set up so-called "gates" to slow down redemptions as a ...

Union-Tribune's December House Organ Doesn't Report Circulation Figures

For many years, the Union-Tribune has revealed its circulation figures to employees in a monthly internal publication called "Inside Edition." ...

Tribune Co. Files for Bankruptcy, Saddled with $13 Billion in Debt and Decline in Ad Revenues

Chicago's Tribune Co., owner of the Chicago Tribune and Los Angeles Times, filed for Chapter 11 (reorganization) bankruptcy in Wilmington, ...

More Copley Competition:McClatchy's Miami Herald Reportedly on the Block

The New York Times has reported on its website that Sacramento-based McClatchy is looking to sell its flagship Miami Herald. ...

Aguirre Preparing Paper on Derivatives Market; His New Firm Will Specialize in Derivatives Legislation

Mike Aguirre, who leaves the city attorney's position Monday (Dec. 7), is preparing a white paper on the multi-trillion derivatives ...

Aguirre Sums Up Criminal Activity That Led to Pension Deficit

British author W. Somerset Maugham penned "The Summing Up" late in his career. Ditto for Mike Aguirre, who will shortly ...

November's Shocking 533,000 Jobs Loss Was Actually Far Worse

U.S. nonfarm payrolls plunged 533,000 in November -- far worse than economists expected. They used words such as "almost indescribably ...

Several Big U.S. Cities Could Be without Daily Newspapers by 2010, Says Rating Agency

Fitch Ratings, which provides ratings on various investments, said this week that several cities could be without daily print newspapers ...

At Confirmation Hearings, Will Bill Richardson Be Asked about His Role as Peregrine Board Member?

As expected, President-elect Barack Obama named New Mexico Gov. Bill Richardson as secretary of commerce today (Dec. 4). Richardson may ...

Rancho Santa Fe Is 12th of 34 Small U.S. Towns with Highest Home Values

Business Week Magazine, along with Zillow.com, has picked the 34 towns in the U.S. with the highest home values -- ...

In Survey, San Diego Second Most Desirable Job Location. But It Can't Be the Weather; In Second Survey, Twin Cities Is Tops

A survey of 2,500 employees and entrepreneurs by the Human Capital Institute indicates that San Diego is the second most ...

Leading Indicators of San Diego Economy Take Monumental Pratfall

The October leading indicators of the San Diego economy plunged 2.3 percent from September, the biggest percentage decline or rise ...

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