Long lines of tractor-trailers filled with electronics, apparel and home-improvement goods crowd Interstate 10 through Southern California’s Inland Empire. The trucks are headed for a growing number of warehouses that are displacing the citrus groves that once dominated the area.
Mark Takano saw how subprime mortgages devastated his hometown of Riverside, California, after Wall Street helped inflate a housing bubble that burst and left a trail of foreclosures among the worst in the U.S.
Former officers and directors of First Centennial Bank were sued for negligence by the Federal Deposit Insurance Corp., which said it had to pay $163 million to depositors after the bank failed in January 2009.
California weathered its most recent budget process well positioned for an upgrade of its credit rating, the worst in the U.S., said Mary Neale, principal and founder of Greencoast Capital Partners LLC.
California Governor Jerry Brown said he’ll propose a new budget next month and plans to campaign in Republican districts to win support for a statewide referendum to retain $9.3 billion of higher taxes and fees.