Two Congressmen Say Citigroup Shouldn't Pay NY Mets $400 Million for Naming Rights When Sucking $350 Billion from Federal Government
Democratic Rep. Dennis Kucinich and Republican Rep. Ted Poe have sent a letter to New York beggar-bank Citigroup, saying that since it has received $45 billion of bailout funds, plus another $306 billion in loan guarantees from the federal government, …
Alan Gin's USD Leading Indicators of San Diego Economy Continue Plunging
The University of San Diego leading indicators of the San Diego economy continue plummeting. According to calculations of economist Alan Gin, the December index was at 108.4, down 2.1 percent from November. But look at the index compared with past …
Guess Who's San Diego's Newest Author: Michael Ellis of Metabolife, Writing from Prison
Michael Ellis, the former head of Metabolife, is at Taft Federal Prison in California until mid-February. When he gets out, he will give interviews about his new self-published book, "The Metabolife Story," which is, he says, about "The Rape of …
L.A. Times Says Chargers Closer to Moving North. Fabiani Suggests It's True
The Los Angeles Times has been reporting this week that the Chargers may be closer to a move to that area. First, the newspaper reported that the team has hired a sports promotion group to expand the team's marketing in …
San Diego Home Prices Down 38 Percent from Peak Three Years Ago
November home prices in the 20 major metro areas were down a record 18.2 percent compared with a year earlier, according to Case-Shiller Home Price Indices released this morning (Jan. 27) by Standard & Poor's. San Diego did worse: the …
Stock of Charlotte Russe, Retailer That May Sell Itself, Comes Down Sharply
On Wednesday (Jan. 21), Charlotte Russe, retailer of fashion merchandise to females in their teens and twenties, shot up to $5.89 in after-hours trading. The company announced that day that it might sell itself and has received "expressions of interest" …
San Diego Rent Declines Are 22nd Highest Among Major Metro Areas
San Diego metro area apartment rents dropped 2 percent through last year -- the 22nd largest decline among large U.S. cities, according to data from Axiometrics.com compiled by Business Week Magazine. San Diego rents declined 1.6 percent in last year's …
Unemployment Jumps to 7.4 Percent in December. Retail, Publishing, Construction Off Sharply
San Diego County unemployment hit 7.4 percent in December, up from a revised 6.9 percent in November, and up from 5 percent a year earlier, according to the Employment Development Department. State unemployment was at 9.1 percent and the U.S. …
Brandes Investment Partners Still Underperforming Sharply, Losing Clients
San Diego's money management firm Brandes Investment Partners continues its string of disastrous investments, particularly in financial and newspaper companies. Today (Jan. 20), the stock of Royal Bank of Scotland plunged 69.31 percent. The British government owns the majority of …
This Year's Super Bowl Will Be Spelled G-A-N-G-S-T-E-R, No Matter Who Plays
No matter what two teams play in this year's Super Bowl Feb. 1, the relationships of National Football League owners to organized crime should be on display, although mainstream media will almost certainly ignore the facts. The best source on …
Union-Tribune Slashing Wages and Benefits, Warning of More Staff Reductions
Union-Tribune President Gene Bell today (Jan. 16) sent a memo to staffers outlining draconian salary and benefits cuts and warning of even more layoffs to come. For February and March, pay cuts will range from 9.25 percent for lower-rank employees …
LA Times Editor Says Online Ad Revenue Enough to Cover Entire Print and Online Payroll
Columnist Jeff Jarvis of the UK's Guardian publication quotes the editor of the Los Angeles Times saying that online ad revenue is now sufficient to cover entire editorial payroll costs, including both print and online. Jarvis calls it a "moment …
Fabiani Is Principal in New Consulting Firm Featuring Both Republicans and Democrats
Political consultants who have furiously battled each other for years have founded a new consulting firm, LFM campaigns, in Sacramento, according to the San Francisco Chronicle. Mark Fabiani, former special counsel to President Clinton and deputy campaign manager for Gore-Lieberman …
New York's Ponzi Scheme Wins for Size, but San Diego's Wins for Investor Gullibility
New York authorities are working through Bernie Madoff's $50 billion Ponzi scheme. Today (Jan. 12), a San Diego federal judge sentenced two men to extended prison terms for a mere $50 million Ponzi that had various names such as "Learn …
Union-Tribune Now Telling Employees of "Audience Reach," Not Circulation
For years, the Union-Tribune in its house organ, Inside Edition, gave employees an update on circulation. But as circulation declined sharply, the newspaper stopped the practice in its December edition, as reported on this blog. Now, in its January edition, …
Chargers' Fabiani Admits in Article That San Diego Is Bankrupt or Heading in That Direction
A quintessential establishment member, Mark Fabiani, Chargers counsel, admits in the Jan. 12 issue of Sports Business Journal that "Government at all levels [including the city of San Diego] is either bankrupt or going bankrupt." Up to now, it has …
When Chargers Play in Super Bowl, They Will be Supported by Wall Street's Bears, Despite Tarnished Indicator
Even before the Denver game, I said the Chargers could make the Super Bowl. Now I am even more of a believer (I write this before the Pittsburgh game), although I confess I don't know a damned thing about football. …
If Vegas Can Get Federal Stimulus Money for Organized Crime Museum, Will Chargers Demand Funds for Stadium?
Las Vegas is planning a $50 million mob museum featuring the exploits of multifarious gangsters who launched the gambling industry in Sin City, and, many say, still run the place. Mayor Oscar Goodman, a long-time Mafia lawyer who for years …
Chula Vista and Gaylord, Now Separated, Singing the Blues
Chula Vista has declared itself in a fiscal emergency. This means it is bleeding so much it could ask the voters for a sales tax increase. The city is considering a layoff of 130 employees, and closing of faciities such …
Copley Press Sells Posh Condos in Ballpark District to Owner David Copley. The Deal Raises Questions
Reader document sleuth Matt Potter has come up with information that should interest anxiety-ridden Union-Tribune employees. They had cocked their eyebrows in mid-2003 when the parent company, Copley Press, revealed that it had bought two luxury condos in the 11-story …
Warner Springs Ranch Ousts Board, Possibly Opening Way for Pala Band to Buy Back Ancestral Homeland
Members of North County's financially-troubled Warner Springs Ranch have successfully ousted the board by a vote ratio of more than 4 to 3. A new board has been elected. For some time, there has been a feud among the 1,000 …
Jeff Moorad, Former Players' Agent, Says He Has Reached Agreement in Principle to Purchase Padres
Jeff Moorad has resigned as chief executive officer of the Arizona Diamondbacks and says he has an agreement in principle to buy the San Diego Padres, according to the Associated Press. Moorad was a former players' agent; other Major League …