SF News February 28th Economic Blackout Gaining Steam Posts on social media have been calling for a mass boycott of major retailers on Friday. The event appears to be attributed to People's Union USA, whose mission is a bit vague.
SF News Some Analysts Wonder If California Economy Is Barreling Into Recession A combination of inflation, high interest rates, and tech layoffs have some economists worried that a nasty California recession is brewing, though the downturn may be limited to commercial real estate landlords and people who made bank during the pandemic.
Business & Tech SF-Based First Republic Bank Gets $30B Lifeline From Group of Larger Banks It was good news on Thursday for regional bank First Republic, which on Monday was facing serious stress in the wake of the failure of Silicon Valley Bank. A coalition of larger banks agreed to funnel $30 billion in deposits to the bank to help it shore itself and meet the demand for withdrawals.
SF News Study Ranks San Francisco Dead Last In U.S. for Downtown Economic Recoveries Yet another analysis points out the well-reported state of affairs that downtown San Francisco’s economic recovery from the pandemic is awfully sluggish, but this one purports that we’re in last place among 62 North American cities.
SF News State of SF Economy: Tech Booming, Unemployment Low, But Tourism and Hospitality Still Screwed The SF unemployment rate is a fabulously low 2.9%, but the FiDi is still a ghost town, and SF’s economic recovery lags behind that of other cities, according to a new report from the Office of the Controller.
SF News Gap Continues To Struggle As Shoppers Reject Their Conformist Message As you've likely heard, Gap is in trouble. The San Francisco-based clothing company faces declining sales and is on the verge of closing dozens of stores as shoppers look elsewhere for their sartorial
SF News Layoffs At Tech Companies Double What They Were Last Year At This Time Can we all admit, finally, that the tech bubble has indeed burst, or at least floated off and disappeared somehow as bubbles do? It may be less of a pop-up than just a
SF Restaurants, Food & Drink What SF Restaurant Owners Are Saying About The Current Restaurant 'Bubble' Valencia Street probably already hit "peak restaurant" last year, and if you believe chef and restaurateur Dennis Leary (The Sentinel, Golden West, House of Shields), so did the rest of the city. San
SF News How Many San Franciscans Are Rooting For The Tech Economy To Tank? As they sometimes do with towns they consider their curious backwater cousins, the New York Times has taken up the current state of San Francisco, macro-psychologically, today in yet another piece about the
SF Restaurants, Food & Drink Study: Prices For Signature Dishes At Bay Area Restaurants Went Up 52% Since 2005 Steamed barbecue pork buns at Yank Sing were $3.50 in 2005. Now they'll set you back $5.50. A Saturday night dinner at Chez Panisse was $75 back then — this coming weekend
SF News 2001 All Over Again?: Apple, Twitter, Square, Yahoo Stocks Hit New Lows This Morning Though late-morning and afternoon trading on Wall Street has seen all four stocks bump up a bit, this morning looked really dismal for the local tech sector as the stock prices of Apple
SF News Average SF Tech Wages Up 12.8% To $176K (With Bonuses, Stock Options) The average wages for industries in the United States went up by 3.1 percent for 2014 to reach $51,364 according to the US Bureau of Labor Statistics. The Chronicle ran last
SF News At High End, SF's Housing Market Finally Cooling Off While doomsayers have believed there was no end in sight to the white-hot home sale market in San Francisco, at least at the luxury end of the spectrum, the market appears to finally
SF News Life After The Boom: What Will Happen When This Bubble Bursts Earlier this week, the Dow Jones Industrial Average suffered its largest intraday loss in history. With it, several major Bay Area stocks sunk low. Shares of Twitter dipped below their IPO price, and
SF News Gap Lays Off 250 Employees, Announces Closure Of 175 Stores Major news for a major Bay Area employer today as Gap, Inc. announced that it would be shuttering a swath of its stores across the U.S., and laying off a segment of
SF News Here Are All The Reasons Traffic Sucks More Than Ever In SF Everyone who's been anywhere near downtown in the last year or two knows how much longer it takes to get from point A to B than it used to. San Francisco has, maybe
SF News Here Are The Neighborhoods With The Most Burners Not that you probably needed this, but Fortune has made a map, via data from Square, that illustrates the "Playa Effect" on various S.F. neighborhood during the week of Burning Man this
SF News In S.F., The Lucky String Together TaskRabbit Gigs to Survive A new piece in the Chron about the "gig economy" is another depressing sign that if you're not a doctor, lawyer, video game designer, or tech millionaire, you're probably suffering through some indentured
SF News California Governor Signs Nation's First $10 State Minimum Wage Into Law Governor Jerry Brown signed a new measure into law on Wednesday, one that makes California the first state to raise its minimum wage to the $10 mark. Noted as the first minimum-wage hike
SF News S.F. Takes Lead In National Home Price Uptick A piece in the NYT yesterday confirms that San Francisco is winning the race to become the most expensive place to live anywhere ever. In the ongoing, much talked about economic recovery, home
SF News Blue Angels Will NOT Fly During Fleet Week 2013 That rumbling over the sky each October won't be heard this year as the Blue Angels will not fly Fleet Week 2013. Budget cuts, it seems, is the issue here. The air acrobats
SF News Stockton Is Largest U.S. City To Go Bankrupt A judge has authorized the city of Stockton's bankruptcy filing, making it the largest city in U.S. history to go bankrupt, second only to Vallejo, which filed for bankruptcy back in 2008.
SF News Governor Jerry Brown's Office To Fox News: Please Stop Lying [Update] Last week, the journalistic stalwarts at Fox News printed a striking piece claiming California's 2012 budget deficit would hit $28 billion and cause an exodus of high wage earners from the state. Unfortunately
SF News Just Days After Rocky IPO, Investors Sue Facebook As Facebook's stock fell just days after trading, three investors filed suit against the company today, along with underwriters Morgan Stanley and Goldman Sachs, accusing them of withholding damaging information about the social
SF News Media Descends On Facebook's Less-Than-Stellar Second Day Trading After closing 23 cents above its record-breaking IPO price of $38 on Friday, Facebook's stock dipped 11 to 13 percent to $33.87, at least as of early this morning. Patience will most
