Results tagged “economy”

Your Kaja Silvermans and Teresa De Laurentises aren't going to save you now, UC ilk. The economy knows no bounds, it knows no AP scores, it known no misguided acceptance of one's own body odors. Today, UC students and faculty went on strike. UC Berkeley folks "took up their signs on Sproul Plaza beginning at 5 a.m. to protest an expected 32 percent student fee hike at today's UC Board of Regents meeting."

Over the next year, and due to Oracle's takeover, Sun Microsystems plans on eradicating over 3,000 jobs. According to CBS 5/BCN, "They are the latest in a series of job cuts at the server and software maker, whose prolonged financial troubles led to the $7.4 billion deal with Oracle in April." Good luck out there, Sun folks.

In a sign that the recession might -- might! -- be over, Google CEO Eric Schmidy and the lovely/talented/benevolent Sergey Brin told reports this morning that the company is partying like it's 1999. That is to say, according to Ryan Tate at Valleywag, "the Mountain View, California company is through with its recent belt-tightening, which included layoffs and cutbacks in the company's famously posh perquisites."

A prayer vigil and rally is scheduled to begin at noon at the Federal Reserve at 101 Market St. today, calling for solutions to widespread foreclosures. Rev. Jesse Jackson, who is currently on a national tour promoting his nonprofit RainbowPUSH Coalition's campaign for mortgage relief for homeowners facing foreclosure, is scheduled to appear. Jackson and other religious and community leaders are putting pressure on lenders to restructure loans in order to avoid foreclosures.

Curbed featured this photo montage sent in by reader Ben of storefronts that are empty or for lease along Union Street from Gough to Fillmore. Check out the larger version.

Governor Arnold Schwarzenegger finally signed California's budget today, making additional cuts to fill a $1.1 billion gap left by legislators in their approved package. An additional $6.2 million was cut from state parks after an $8 million cut was proposed last week. That makes a total of $14.2 million, a number the Schwarzenegger's office predicts "will result in the closure of probably more than 100 parks."

In some not-so-cheery Friday news, California's unemployment rate skyrocketed to 11.5 percent in May, making it "the highest in modern record-keeping," according to the U.S. Department of Labor. NBC Bay Area reports that "[a]lthough the federal agency reported that 48 states and the District of Columbia saw their unemployment rates rise in May, California's rate was substantially higher than the national rate of 9.4 percent for the month." Michigan, Oregon, Rhode Island, and South Carolina.are the only states with higher unemployment rates. (Again, this isn't fun for anyone.)

Gay marriage as an attack on small businesses? Because said small businesses would have to pay healthcare? Not even close, Michael Steel, chairperson of the Republican National Committee. That is a lie. What gay marriage can do for the country is add a whopping $16.8 billion toward the "gross national wedding product." Engagement rings alone, according to a Forbes study, would run at $1.8 billion a year. And that money would positively affect, you guessed it, small businesses.

Sad news, California state employees. Governor Arnold Schwarzenegger has asked his administration to "send 5,000 layoff notices to state workers Friday," according to an unnamed source close to Arnold's budget plan. The workers, according to (which is one publication we will truly be sad to see go if things are going the way they are in the print world), "will be among the 20,000 state workers who received layoff warnings earlier this year." Said 5,000 employees will have to have their desks cleaned out by the end of June. Also, for even more depressing news, be sure to check out live coverage of today's California budget crisis. (Pst, better get on the "California, the Weed Dealer State" thing right-quick, governor.)

Where The Onion used to be on Cortland in Bernal Heights. The Onion, as SFist pointed out last week, ceased print editions in San Francisco and Los Angeles.

Lessley Anderson (senior editor at CHOW and our former colleague back in the day) sent us this map denoting the sports where you can find the current "nonstaurant" trend in the Bay Area. It's pretty damn handy for those of you who prefer to get your gastronomic fix from a taco truck.

This post will be the most difficult one your editor has had to write. We type these words as we head to the Golden Gate Bridge, ready to jump over the railing, prepared to take the final plunge. Why? Because we don't want to live in a world without MyOpenBar.com. See, MyOpenBar, the AWESOME site that informs readers on any and all open-bar/cheap-booze events, will cease operations in Los Angeles and San Francisco. We talked to MyOpenBar, who we hoped would inform us that this was some sort of cruel joke. No suck luck. According MyOpenBar, "Yes, we're closing both LA and SF websites due to our inability to monetize those branches in all this time. We simply can no longer sustain them through our work here in New York alone. Unfortunate, yes, but hey, life goes on." Their New York City and Chicago site, however, will remain open for business.

While not all out advocating the legalization of marijuana, Governor Arnold Schwarzenegger said it's time for California to "study whether to legalize and tax marijuana for recreational use." today, according to the Sacramento Bee. When asked about a Field Poll showing that a majority of Californians support legalizing and taxing mary jane to raise revenues for economically-strapped California, Arnold had this to say:

Area bankruptcy filings have gone up 50% in the first quarter of 2009, compared to last year, the San Jose Mercury News reports. Records at the U.S. Bankruptcy Court in San Jose (which covers Santa Clara, Monterey, San Benito and Santa Cruz counties) showed 2,399 filings in Q1 2009; for Q1 2008, there were just over 1,500 while in Q1 2006, there were just 500. One bankruptcy lawyer explained, "We're seeing cutbacks in electronics and at Sun, Yahoo — large numbers of people are having their income cut, and for many it's making their house unaffordable," while another points out many of those filings are from "people in their mid-50s, formerly with Hewlett-Packard, Cisco Systems, Intel and Applied Materials... They've been with these employers, in some cases, for decades. They are engineers, highly skilled people, and now they're being laid off. I didn't see that in the last downturn."

While Gavin Newsom tours California to tout his successes as mayor of San Francisco -- not to mention spending the weekend at the insider-baseball-y Democratic Convention in Sacramento, along with practically every other SF progressive and wonk -- he hasn't solved San Francisco's ails as thoroughly as he might want you to think he has.

Not on our watch, hopefully. But Eater came across 7x7's article concerning a critic's responsibility (namely, after a scathing re-review of Acme Chophouse, Michael Bauer's) in these trying economic times. Sara Deseran 7x7 food scribe goes on to (inexplicably?) say that, "in fragile times like these, it's a critic's responsibility to think not once, but twice." A curious, albeit worrisome, point of view.

Ailing Sunnyvale-based Yahoo Inc. suffered yet another setback this week after "lackluster' first-quarter results were announced. As a result, anywhere from 600 to 700 jobs will be cut. This makes the company's third round of layoffs in over a year. Yahoo product managers, it seems, are most likely to get axed during this round of layoffs. At least so says Chief Executive Carol Bartz who blunted, "We sort of had one product management person for every three engineers, so we had a lot of people running around and telling people what to do, but nobody was doing anything," Yahoo cut more than 2,500 jobs in 2008.

Nascent San Francisco bookstore Babylon Falling is closing its doors, according to SF Weekly. "After two short years in business," says BF's site, "Babylon Falling will be closing its doors for good at the end of June 2009." Alas. But as Weekly reporter Joe Eskenazi expertly points out, "this, by the way, is just the sort of cool place that Bay Area folks love the idea of and love having in their neighborhoods -- but don't go to enough to keep afloat (See: Parkway Theater)."

Today, the California State Senate "passed legislation that will extend benefits to the unemployed by 20 weeks, sending Gov. Arnold Schwarzenegger the first bill involving money from the federal economic stimulus package," according to reports. The bill passed in a 38-0 vote. "The most important thing we can do right now to help our economy and the day-to-day lives of Californians is to make sure those who are unemployed have the cash to pay their bills and feed their families," said Senate President Pro Tem Darrell Steinberg, D-Sacramento. This most recent alteration in California unemployment laws comes just as Google plans to cut part of its workforce.

HuffPo writer and author of TASTE (a cooking blog!) Isabel Cowles has come down on Out Patron Saint of Organic Sprigs Alice Waters. She says what most people are afraid to say about Waters and the slow food movement: it's too expensive. Cowles says, "If Ms. Waters is serious about changing the national food system for all Americans, she needs to get down and dirty on the economic issues tied to her edible ethos. At present, the food Waters espouses--clean, local and organic--is not sustainable to the American wallet." Too true. If Waters can address this issue -- which she really should do; tell us this economic climate is a surmountable challenge to live an organic lifestyle, or just tell us po' folk to stick to our Sonic burgers -- this fresh food philosophy might be a tad more accessible. Until then, we'll be sticking to the 'conventional' produce section at Whole Foods.

With coverage on Oprah, followed by countless other media stories on the Third World-ish homeless camp, Sacramento's 'Tent Camp' will officially close over the next few weeks. Sacramento Mayor Kevin Johnson, who's clearly freaked out by this kind of attention, plans to shut it down and move its residents to nearby shelters. The Oakland Tribune says, "With foreclosure rates in the Sacramento region among the highest in the nation, the ragtag camp has been depicted as a symbol of the economic meltdown — people who'd lost their homes and were suddenly pitching tents along a riverbed."

It was announced today that Hearst Corporation's other troubled publication, Seattle P-I, will roll out its final print publication tomorrow. Publisher Roger Oglesby just made the announcement on behalf of Hearst. The online version, seattlepi.com, will remain up and running.

An anonymous reader writes SFist with the following urgent request.

After the Metreon proved to be an inarguable disaster (e.g., shops, feel, maneuverability, clientele, warm fuzzies), the awkward steelish complex at Fourth and Mission is attempting a comeback. According to the Examiner, "popular New York restaurant Tavern on the Green will occupy the top floor; a food terrace will face Yerba Buena Gardens; and lights will colorfully illuminate the Fourth Street facade." Darling! Hopefully, the new restaurants will be more affordable than the ones in the Ferry Building. And while the cinema will be one of few things remaining from the old Metreon, the San Francisco Filipino Cultural Center will lease space in the complex, "where it will set up its events and administrative headquarters."

Owen Thomas at Valleywag has word that there might -- might! -- be "'major layoffs'" at Apple today. According to VW tipsters, "'all sales teams have mandatory meetings today'" and "'HR booked conference rooms in Cupertino.'" Is it true? Who knows. But we're here to spread the wild speculation. Stay tuned.

Before we get to what esteemed journalists have to say about SF Chronicle's impending closure -- when discussing "micropayments" and other snake oils with a SFSU journo professor this morning, KTVU's Ross McGowan looked even more crestfallen than usual -- SFGate commenters have much to say about why, exactly, the Chron might have to shut its doors. Their reason? Commie, homo-loving sons-of-guns on the editorial staff.

This just in: the SF Chronicle is (practically) up for sale. Word is that "if they don't sell it, they'll shut it down." No deadline communicated yet.

With support from Supervisor David Campos, CA Superior Court Judge James P. Gray, and SF Sheriff Mike Hennessey, Tom Ammiano held a frenzied press conference at the State Building this morning.

Coming as a surprise to no one, Sony plans on shutting down the PlayStation Store and SonyStyle Store at the Metreon complex. As near to the heart to PlayStation fans as the Apple store is to Mac sect members, the Metreon saw lines circling the block when they released the PlayStation 3 in 2006. But now, due to the recession (not to mention the Metreon's jarring feng shui), both Sony stores will close later this year. According to The New York Times, "the PlayStation store’s decline is an emblem of bigger problems with Sony, which has seen its fortunes turn from first place in the console business to third place." All of this boils down to one question: Should one get a Sony PSP or Nintendo DS?

KRON 4's parent company, Young Broadcasting, (finally) filed for bankruptcy today, according to sources. KRON, once the Bay Area's NBC affiliate, has been for sale since last year. Most recently, Young Broadcasting Inc., skipped out on a $6.125 million interest payment to lenders. Back in November of 2008, Young made public that "it had been unable to sell KRON and might have to file for Chapter 11 bankruptcy protection." Looks like that day has finally come for the beleaguered San Francisco station. KRON bills itself as "the Bay Area's news station," featuring original programming and syndicated shows (like Dr. Phil and Sex and the City reruns). We'll update as soon as we know more.