For many years, the state pension funds like CalPERS have invested money that has been earned by different government employees, teachers and firefighters with private equity firms. But till now people did not have a clear picture about the expenses they are incurring or how much were earning.
Last week union contracts were ultimately ratified at Ford Motor and General Motors marking the beginning of a new era in the U.S auto industry.
The three Detroit automakers culminated labor talks with the workers union and were among the most generous in about a decade or more. It represented a significant shift from many years of stagnant wages and cuts.
The financial firms no doubt charge a hefty fee on the fast-growing stack of assets but few of them do it better than PIMCO or Pacific Investment Management Company, headquartered in Newport Beach, California.
The bond giant has taken greater than $6 billion as fees between the period of 2010 and 2013 marking the most profitable run for any mutual fund.
Hewlitt-Packard is soon going to split its business into two, with HP Inc. one side selling PC's and printers and HPE or Hewlett Packard Enterprise, selling computer storage, computer networking, servers among other things. Meg Whitman will be taking over as the CEO of HPE after the split.
On Thursday, Bellingham, Washington based grocery chain Haggen said it plans to exit the Pacific Southwest market totally. The grocery operator plans to shutter more stores and realign its core business with thirty seven stores and a stand-alone pharmacy in the Pacific Northwest.
Oil prices in California continue slipping at regular intervals and may drop below $2.50 per gallon by Christmas time. That will be something up to an 80-cent fall in the average statewide.
It is a forecast made by Allison Mac of GasBuddy.com this summer which slowly proving to be true.
On Friday, the state Employment Development Department reported that 80,600 non-farm payroll jobs were added by California in July. The jobless rate of the state dropped to 6.2 percent which was a decrease from the figures noted a month ago. Although the job numbers was a little gloomy for the Humboldt County but still it was lower as compared to the overall average of the state.
Davis researchers, at University of California say that the state which is in its fourth year of drought condition will lose $1.84 billion in the agricultural sector in the current year. That also comes with the approximately 21,000 jobs losses in the South Valley which is suffering the worst effects of the dry spell.
On Sunday, Trilby Lundberg Survey Inc, the survey publisher said that the current gasoline price average is 81 cents less than what was noted one year back.
According to the survey, on an average, the drivers in the US paid $2.7108 per gallon for regular Gasoline in the two weeks which ended on 7 August.