Fraley banned from securities business
Peddling Nova Gen stock, he told investors gross untruths
The Securities and Exchange Commission (SEC) has banned Paul Randall Fraley from the securities industry. The commission's complaint said that from 2006 to 2009, he raised more than $2.3 million through an unregistered offering of Nova Gen stock. He misrepresented …
For-profit colleges exploit African-Americans
Bridgepoint's Ashford among top two schools, says Salon.com
Salon.com has an excellent article dated June 9: "Young, black and buried in debt: How for-profit colleges prey on African-American ambition." Black college enrollment soared 35% between 2003 and 2009, almost twice the rate of white college enrollment, says the …
CPUC commissioner proposes use of storage systems
Would minimize greenhouse gas emissions, avoid fossil fuel utility plants
Carla Peterman, a commissioner of the California Public Utilities Commission (CPUC), proposed today (June 10) that the commission begin a proceeding to look into whether or not utilities should adopt energy storage systems. She notes in the proposal that new …
De La Fuente's posh Uruguay restaurant ordered closed
Judge says rotating dining spa, in foreclosure, should be auctioned
La Vista, a fancy, rotating restaurant atop a hotel in Punta del Este, Uruguay, has been ordered closed, according to the Uruguay newspaper, El Pais. It is scheduled to be auctioned June 27. It is one of a series of …
WFP Securities ordered to pay $19 million for peddling Ponzi
Brokerage, closed in 2011, loses before arbitration panel
WFP Securities has been ordered to pay almost $19 million to a trust representing investors who lost money in a Ponzi scheme sold by the defunct brokerage, according to the Wall Street Journal. The trustee of the liquidating trust accused …
U.S. gains 175,000 jobs in May
But unemployment rate rises as more join labor force
The United States gained 175,000 jobs in May, more than economists had expected. That is a sharp improvement from the 149,000 in April. However, the unemployment rate rose to 7.6% from 7.5% in April as more Americans joined the labor …
Edison shutting down San Onofre permanently
Announcement made early this (Friday, June 7) morning
Southern California announced this morning that it is shutting down the troubled San Onofre nuclear power plant, according to a story in the Los Angeles Times. The move comes 17 months after the plant was closed because of steam generator …
Enterprise zones a flop, says new study
They don't generate job growth or promote business development
Enterprise zones, which through tax breaks were supposed to help small businesses in distressed areas, are a boon for big business, but are not creating jobs or development, according to a study by the Sacramento-based California Budget Project. The zones …
Cunningham worries about local housing bubble
Price-to-income ratio getting pretty high again
Kelly Cunningham, economist for the National University System Institute for Policy Research, says investors are jumping into the San Diego housing market, and since there is not much new housing coming on to the market, the ratio of housing prices …
Qualcomm unit backs Chinese company aping Apple
Xiaomi founder models self after Steve Jobs
The New York Times today (June 5) has an excellent story on China's Xiaomi, whose head, Lei Jun, is a "professed [Steve] Jobs acolyte," says the Times. One question is whether the company's products are close to Apple clones. The …
Doctor arrested for selling Oxycodone pills for non-medicinal purposes
William Joseph Watson allegedly got cash, goods, by selling to addicts
According to the U.S. Attorney's office, physician William Joseph Watson was arrested and charged today (June 4) with selling thousands of Oxycodone prescriptions for non-medical purposes. Allegedly, the pills were bought by addicts who used them, sold them on the …
San Diego 13th most romantic travel destination
But look at those cities that are higher on the list
Travel.com has come out with a list of the most romantic U.S. travel destinations. San Diego is 13th on the list. San Francisco is first and New York second -- both understandable, plausible. But Miami is third. Miami? And Las …
Charles Langley resigns from UCAN
So-called watchdog still "irredeemably corrupt," he says
Charles Langley, the well-known and respected executive of Utility Consumers' Action Network (UCAN) has resigned. He joined the group in 1996 at $25,000 a year. His salary has been slashed to $32,000, which adjusted for inflation is less than he …
Why the UT should be called the Union-Redneck
Wailing about the cost of art — tiny fraction of subsidized stadia.
UT-TV announcer Roger Hedgecock has interviewed one Trent Seibert, an on-air and in-print reporter for the UT purported Watchdog section. Both Hedgecock and Seibert lament the cost of public art placed by the Port District. But neither gives any perspective. …
David Copley's downtown condo sold for $3.4 million
He bought it when John Moores needed tenants in ballpark-related building
On May 30, the late David Copley's downtown condo was sold to software whiz Steve G. Bjorg for $3.4 million, according to Redfin and real estate records. Copley had purchased the condo when John Moores, former Padres owner, was searching …
Grantville Action Group loses at appeals court level
Tax revenue from Grantville area can be used in downtown San Diego
The 4th District Court of Appeals has ruled against Grantville Action Group in a long-running suit. The Grantville group argued that the City of San Diego could not use redevelopment tax money on downtown projects such as the C Street …
Nurses charged with misconduct, including sex assault
Controlled substances, alcohol also allegedly involved
The Board of Registered Nursing has filed accusations against six San Diego area nurses. Dale Edward Robinson is charged with sexually assaulting elderly women, one of whom was suffering dementia. Susan Haidvogel and Jaime Lynn Murray were charged with alcohol-related …
Psychologist gets 21 months for falsifying records
Roberto Velasquez said people disabled when they were not
Clinical psychologist Roberto Velasquez was sentenced today (May 29) to 21 months in federal prison for certifying that dozens of people were disabled when they are not. According to the U.S. Attorney's office, he fabricated patient histories and test results.
More layoffs at Union-Tribune
News people get the axe in North County restructuring
The Union-Tribune laid off 4 or 5 news people in a restructuring in North County today (May 28), according to good sources. I don't have more details at this time but will add them as I get more. As previously …
County home values continue soaring
Up 10.2% on yearly basis, beating U.S.
San Diego County home values shot up 2.2% in March from February, topping the increase of 1.2% among the 20 largest metro areas, according to Standard & Poor's/Case Shiller data released this morning (May 28). Over the last 12 months, …