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Thursday October 16th 2008

Sacramento Business Journal

Preview
Umpqua reports higher Q3 earnings
Umpqua Holdings, the parent company of Umpqua Bank, announced third-quarter earnings Thursday that represented an increase compared to last year’s third quarter and compared to the second quarter. (UMPQ)
Airco sale delayed for 90 days
The sale of Sacramento’s Airco Mechanical Inc. to APi Group Inc. of St. Paul, Minn., has been “put on hold for 90 days,” Airco president Steve Humason said Thursday.
Social Security benefits to jump 5.8 percent in 2009
The average retiree will have about $750 more coming to them next year thanks to a rise in Social Security benefits.
Downey Savings shutting down wholesale loan department
Downey Savings and Loan, the last major holder of option adjustable-rate mortgages, will cut about 200 jobs as it shuts down its wholesale lending department and make reductions in the retail loan department, the company said Thursday. (DSL)
County revamps developer services
Sacramento County is revamping development-related services as the result of a performance audit that made 99 suggestions for improvement.

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Los Angeles Times | Local News

Preview
Obama photo in GOP club newsletter sparks outrage
Illustration shows the candidate's head on donkey's body on a bogus $10 bill that says 'Food Stamps.' Leader of the Upland women's group denies racism, but a state party official decries the image. A Republican women's club in San Bernardino County sent out a recent newsletter with a photo of Barack. […]
Inmate turned millionaire was drunk when he fatally crashed his moped
DeWayne McKinney was found to have a blood-alcohol level of 0.22% -- nearly three times the legal limit -- when he died in a motorbike accident in Hawaii. DeWayne McKinney, a former California prison inmate turned millionaire, was driving with a blood-alcohol level nearly three times the legal limit. […]
Prison guards' union drops campaign to recall Schwarzenegger
Union president says the group will shift its resources toward the battle against Proposition 5, the Nonviolent Offender Rehabilitation Act. The state's well-heeled prison guards' union is dropping its campaign to recall Gov. Arnold Schwarzenegger and devoting resources to defeating a ballot initiat. […]
L.A. activist has a lot on the ball besides soccer
Raul Macias built a strong political base on the playing fields of northeast L.A. Even his critics acknowledge how far he has come. The Los Angeles city councilman wanted to preserve an old bridge. He called "Don Raul." A young politician running for office needed votes. He walked up the stairs of a. […]
Teachers' union donates $1 million to oppose Proposition 8
The gift from the California Teachers Assn. comes as an internal poll by opponents of the initiative to ban gay marriage reveals that the campaign has not raised as much as supporters. The California Teachers Assn. donated $1 million this week to defeat a ballot initiative seeking to ban same-sex ma. […]

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Los Angeles Times | Top News

Preview
Andrew Bynum's agent disappointed with contract talks with Lakers
The center is in the final year of his contract and could become a restricted free agent next year if the Lakers don't sign him to an extension by Oct. 31. Andrew Bynum turns 21 on Oct. 27. Then comes an even bigger date.
British couple in Dubai get prison term
Vince Acors and Michelle Palmer were arrested after being on a beach together and charged with having unmarried sex. In addition to the 3-month sentence, the pair were fined for drinking alcohol. A British couple whose drunken escapade led to sex on the beach, tabloid headlines and a clash between W. […]
Teachers' union donates $1 million to oppose Proposition 8
The gift from the California Teachers Assn. comes as an internal poll by opponents of the initiative to ban gay marriage reveals that the campaign has not raised as much as supporters. The California Teachers Assn. donated $1 million this week to defeat a ballot initiative seeking to ban same-sex ma. […]
U.S. policies may have contributed to Iran revolution, study says
A report based on declassified documents suggests that the Nixon and Ford administrations, angry with the shah for his support for raising oil prices, worked to curb his ambitions. A new report based on previously classified documents suggests that the Nixon and Ford administrations created conditio. […]
Stocks rally as oil prices drop below $70 a barrel
The Dow closes up 401.35 points, or 4.7%, after declining more than 300 points earlier in the day. It was only the third time in the last 14 sessions that the Dow has finished in positive territory. Stocks staged a strong comeback rally today as investors set aside fears of a looming recession to ce. […]

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