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.