STOCKTON, CA — “We lost 30 thousand workers in the schools both teachers and schools employees. 170,000 school workers across the state have taken furlough days, unpaid days, in order to help with this budget crisis, we rank at the bottom of all 50 states in staff students ratio,” said Rose Roach, Field Director of the River Delta California School Employees Association discussed education and the tax initiatives on the November 2012 ballot. Continue reading
San Joaquin County, CA — Stockton’s traditional Mexican-American Cinco de Mayo parade continues its growth since the mid 1970’s inception. Continue reading
STOCKTON, CA — On February 28, 2012, the Stockton City Council approved moving forward with a confidential neutral evaluation process recently adopted through state legislation, AB 506Stockton Selects Mediator. Continue reading
Stockton, CA — “You can choose to throw in the towel or clean the sweat off your head and work harder,” said Chef LaLa as she encouraged the attendees of the San Joaquin County Hispanic Chamber of Commerce’s 11th annual Latina Business Conference on March 22nd at the Stockton Hilton Hotel. Continue reading
IR-2012-33, March 13, 2012
WASHINGTON — With business tax-filing deadlines fast approaching, the Internal Revenue Service today encouraged small employers that provide health insurance coverage to their employees to check out the small business health care tax credit and then claim it if they qualify.
(Stockton, CA) – On February 28, 2012, the Stockton City Council approved moving forward with a confidential neutral evaluation process recently adopted through state legislation, AB 506. The process gives municipalities that are in fiscal distress an opportunity for financial restructuring, not unlike what goes on in the private sector. The City has not declared bankruptcy.
The City’s total annual budget is $600 million including all funds and operations; the financial restructuring involves only a small portion of the City’s total budget – the General Fund – which represents approximately $165 million of the larger budget.
The AB 506 process allows municipalities to enter into a period of confidential mediation with creditors or “interested parties” with $5 million or more in obligations or debt. The City and interested parties will select a mediator with the goal of reaching an agreement on how to manage these City debt obligations.
AB 506 process requires that the mediation process remain confidential; however, the participants in Stockton’s AB 506 process have all agreed to identify the names of the organizations that will be participating, which is allowable under the legislation. The participating parties include:
– Association of Retired Employees of the City Of Stockton
– Assured Guaranty
– California Public Employees Retirement System (CalPERS)
– Dexia Credit Local, New York Branch
– Franklin Advisers, Inc.
– Jarvis/MUD case
– Mid-Management/Supervisory Level Unit (Management B&C Employees)
– National Public Finance Guarantee Corp.
– Operating Engineers’ Local 3
– Price case
– Stockton City Employees’ Association (SCEA)
– Stockton Firefighters’ Local 456
– Stockton Fire Management Unit
– Stockton Police Management Association
– Stockton Police Officers’ Association (SPOA)
– Union Bank, NA
– U.S. Department of Housing and Urban Development
– Wells Fargo Bank, National Association, as indenture trustee for the following bonds: Redevelopment Authority of the City of Stockton Revenue Bonds, Series 2004 (Stockton Events Center Arena Project); Stockton Public Financing Authority Lease Revenue Bonds, Series 2004 (Parking and Capital Projects); Stockton Public Financing Authority 2006 Lease Revenue Refunding Bonds, Series A; Stockton Public Financing Authority Variable Rate Demand Lease Revenue Bonds, 2007 Series A and 2007 Series B (Taxable) (Building Acquisition Financing Project); City of Stockton 2007 Taxable Pension Obligations Bonds, Series A and Series B; Stockton Public Financing Authority Lease Revenue Bonds, 2009 Series A (Capital Improvement Projects); Stockton Public Financing Authority Variable Rate Demand Water Revenue Bonds, Series 2010A (Delta Water Supply Project)
In addition, the participants have all agreed to provide the name of the mediator, once the mediator has been selected.
For additional information or questions, please visit www.stocktongov.com or call (209) 937-8827.
Stockton, CA– The City of Stockton was home to the 8th annual REXPO, whose theme this year was “Unplugged,” on March 14, 2012 between the hours of 7:00 AM until 2:00 PM at the Hilton Hotel. The event was hosted by Green Team of San Joaquin, a program of the Stockton Chamber of Commerce.
Homeowners with Government-Sponsored Mortgages not eligible to Reduce Homeowners Negative Equity – yet.
WASHINGTON, D. C. – Earlier this month, a $25 billion settlement was announced for 49 states to help former and current homeowners who have struggled in the wake of the foreclosure crisis, including California. Although five major banks—Bank of America, Wells Fargo, J.P. Morgan Chase, Ally Financial, and Citigroup—are participating in the settlement, homeowners with loans secured by Government-Sponsored Enterprises (GSEs) are not eligible for that assistance. The GSEs, including Freddie Mac and Fannie Mae, own or secure approximately 60 percent of the mortgages in the country.
Editor’s Note: Why is the price of gas spiking? While Republican candidates blame President Obama, energy experts point to global market forces at work—the complications of supply and demand. To get the inside story, New America Media’s Ngoc Nguyen interviewed David Hackett, president of Stillwater Associates, an energy consulting firm specializing in the transportation-fuels market, based in Irvine, Calif. Following are excerpts from her interview.
WASHINGTON –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. Continue reading
Kaiser Permanente employees and union leaders circled outside the Kaiser facilities in Stockton on Tuesday, January 31st as part as a one-day strike throughout Northern California, battling over contract negotiations with Kaiser.
United States Capitol Washington, D.C. 9:10 P.M. ET
By Mayra Barrios
On January 11, 2012, the South San Joaquin Hispanic Chamber of Commerce will install the 2012 Officers and Board of Directors.
The 2012 Board of Directors to be installed are: