Recently on California Money:
This week, $2 billion worth of California debt
goes on sale. State Treasurer Bill Lockyer is selling
the tax-free general obligation bonds to raise money for
infrastructure projects. Also, the U.S. Treasury
Department has loosened restrictions on the export of
some Internet services to Iran, Sudan and Cuba.
Host: Stephanie Martin
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California's unemployment rate edged higher in
January to 12.5 percent -- the highest it's been in
nearly 70 years. But experts say there are some
encouraging signs in the state's job market. Meanwhile,
15,000 employees of the city and county of San Francisco
received pink slips today. The plan was put forward by
Mayor Gavin Newsom to reduce worker hours as a way to
deal with the city's budget shortfall.
Host: Peter Jon Shuler
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For the first time in two years, more Bay Area
businesses plan to hire workers than lay them off.
That's according to the latest Business Confidence
Survey from the Bay Area Council. San Francisco-based
retail giant Gap, Inc. surprised industry watchers today
with better-than expected February sales figures. Gap,
whose apparel brands include Old Navy and Banana
Republic, says it's same-store sales rose three percent
-- almost double analysts' expectations.
Host: Stephanie Martin
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Cybersecurity experts gather in San Francisco
for the annual RSA Conference in San Francisco. The
news: online security threats are worse than ever. Also:
Toyota announces a "bonus" package for the 4,600 workers
it's about to layoff from its NUMMI manufacturing plant
in Fremont, California.
Host: Stephanie Martin
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Job losses in California may have been much
worse than previously thought. The state Employment
Development Department is revising its job loss totals
for last year. The old number was 580,000. The new
number may be closer to 870,000. Apple has turned up
the heat in the smart phone wars by suing Taiwanese
phone maker HTC. Apple accuses the company of violating
20 patents. HTC makes a number of mobile phones using
Google's Android software -- considered to be a major
competitor of Apple's iPhone.
Host: Stephanie Martin
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Apple says it's taking steps to address labor
law violations by some of its foreign suppliers. The
Cupertino-based company says audits of 102 facilities
conducted last year found more than a dozen serious
violations of labor laws or Apple's own rules.
Violations included the use of underage labor. Also,
disgruntled Bay Area bricklayers and their assistants --
also known as hod carriers -- are demanding greater
protection from the U.S. Department of Labor.
Host: Stephanie Martin
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