City planners and private developers in Sacramento envision a downtown shopping and entertainment hub pulsing with revenue and pedestrians. The mind’s eye replaces vagrants with decorative park benches and rundown storefronts with shiny new facades. And rather than dispersing at sundown, restaurant patrons and theatergoers would linger into the wee hours.
The question of value is crucial in business, whether it’s how much you should pay to acquire a competitor, the fair price for that new piece of equipment or how big a share of your company you can pass along to your heirs.
It might be hard to imagine, but Sacramento will start building thousands of houses and condominiums again — some day.
For many environmentalists and residents of the Sacramento-San Joaquin Delta, the solution to California’s water supply sounds brilliant in its simplicity: Use less than we do now, particularly in areas of the state that have precious little of their own to begin with, thereby eliminating the need for spending billions of dollars on new water storage. But don’t try selling that idea to the bulk of California’s most powerful water stakeholders, many of whom contend that all the low-flow toilets and drip irrigation systems in the world won’t mean much without more dams and reservoirs to capture water during wet years and reap the benefits in dry times.
California’s water supply largely depends on the capacity of dams, reservoirs and pipelines built in the past century. These days, however, water utilities are increasingly using conservation and efficiency measures to manage supplies.
Red Hawk Casino opened in December, just weeks after economic woes sent the stock market plunging. The launch of the new venue just off Highway 50 coincided with a sharp drop in gross gaming revenue at Nevada’s Lake Tahoe casinos, and California casinos also felt the sting as gamblers gave Red Hawk a try.
Newspapers across the nation have been in a painful freefall for the past couple of years, cutting budgets, pages and staff nearly as quickly as they can relay information. The culprit, of course, is a lackluster economy that has severely hindered advertising revenue piggybacked on a readership that’s demanding free content in new mediums. So it comes with a few raised eyebrows to find Winters Express, a small weekly, still plodding along.
On paper it looks like the Capital Region has the makings of a world-class clean-tech hub: access to policy makers at the Capitol, access to innovative research churning out of UC Davis, and housing that’s affordable for green-collar workers. What this equation doesn’t account for, however, is how fast California is losing its competitive edge to other states and the global economy.
More than four decades after it was proposed, the Auburn dam still draws conflicting opinions about why it was doomed.
Even in the best economy, employers fight a financial tug of war with the people who work for them. One side wants more pay and benefits while the other side wants to trim costs. When the economy takes a nose dive, though, the tug of war can get a lot rougher. State and local government jobs are getting much of the attention in Sacramento this year as furloughs and layoffs have increased tension with workers. But Sacramento’s private sector has seen temperatures rise, too.
From the corner of Pedrick Road and West Kentucky Avenue in Woodland, tomato fields stretch to the east. It’s a contrast to the scene of subdivisions to the west. The juxtaposition of plants and people marks where the city ends and the unincorporated area begins.
Wearing coveralls and galoshes caked in manure and mud, a father and son attach suction devices to the teats of ailing cows.
A drive past a neglected home in Natomas or a shuttered Mervyn’s in Roseville is more than a sign of the strained Capital Region economy. It is also an expensive risk that can hit property owners at the knees.
If there was a soundtrack to banking this summer, it sounded something like the theme from “Jaws” — tense, ominous and hinting at unknown dangers below the surface.
This summer, the Milken Institute released its second report on manufacturing in California. Seven years the institute sounded the alarm that California was losing its manufacturing edge, the driving force for postwar prosperity from the aerospace industry through high technology. The institute said policy makers should pay attention to the state’s manufacturing decline.
Most recognized California as “the Golden State” long before lawmakers adopted the official nickname in 1968. But while California’s standing as the land of big ideas and golden opportunities is well-earned, so too is its recent reputation as a state in perpetual crisis. In few places is this more evident than the state’s ongoing debate over its aging and unsustainable water management system.
The new-home market in Solano County soared even higher than that of California as a whole, and it fell harder too.
Many things can claim victim status in the wake of the current economy, but local MBA programs aren’t one of them.
Despite significant tuition costs, ranging from $12,000 to $40,000, MBA programs are at worst holding steady in enrollments, and many are actually enjoying surges — not just in applications but in qualified applications.
The smart landlords are doing whatever it takes to keep old tenants and lure new ones. That includes free rent, bigger allowances for tenant improvements, free signs and plain old cash. “If there is less than two years remaining on the lease, a savvy landlord really should be talking to them about extending,” Frisch says. “Oftentimes landlords and property managers don’t start that conversation until it is much later in the lease term.” But if a tenant is in good enough financial shape to keep paying the rent, very few landlords will renegotiate a deal with more than two years left, Frisch says.
With the national economy stumbling along like a wounded animal, the only steady growth these days is in the number of workers being shown the door. But while layoffs can be demoralizing, those workers who remain on the job may find “the Great Recession” to be a huge career booster.