Economy

Even since the economy began stalling several years ago, there have been dire warnings that crime would rise. But in Southern California, crime continues its long decline despite the weak economy. Indeed, 2011 brought new worries about a "double dip recession," yet streets in many parts of the region were the safest they've been in decades. The trend continues to puzzle some criminologists but has reinforced the view of many in law enforcement that factors other than the economy determine the rise or fall of crime.

Rep. Adam Schiff (D-Burbank) said this past weekend that sequestration - the mandatory across-the-board spending cuts put in place last year and set to go into effect March 1 - would have a disastrous effect on the middle class and the country's recovering economy. Speaking with MSNBC's Alex Witt, Schiff said the cuts would jeopardize all the progress that the economy has made during the past few years and drastically cut jobs and economic growth. “Frankly, it's going to be a disaster for the country,” Schiff said.

The draining of Echo Park Lake has created quite the stench. Following several complaints over the weekend, the Los Angeles Department of Public Works deposited lime in parts of the lakebed to combat the stink, according to Echo Park Patch . According to a Field Poll released Tuesday , 91% of California voters say the Golden State's economy is experiencing "bad times. " It's the third year in a row that more than 90% of voters have depicted the state's economy in a negative light, the Los Angeles Time s reported.

Federal budget season is underway in Washington. As the spending and policy discussions begin, I am going to make sure that the lessons of the past quarter century are not forgotten. Namely, when American workers and entrepreneurs are left to their own devices, the economy is off to the races. The results of lower taxes and less regulation are indisputable. The Wall Street Journal reported that over the preceding 276 months, the U.S. economy was in recession for only 15 months.

Buck Wargo GLENDALE -- A strong U.S. economy doesn't mean every Glendale resident is benefiting with a good job and stable finances, according to some Glendale religious leaders. Request for assistance from the Salvation Army is up 14.25% from last fall, said Major Floyd Bacon of the Salvation Army. The organization operates a food bank, provides limited financial assistance for utilities, vouchers for clothing and daily meals to the homeless, and operates a transitional housing program.

Economists know that it is the circulation of money, not its accumulation, that creates a strong economy. That is why war appears to stimulate the economy, but so did the WPA and other Depression-era programs, without war. The Keynesian economics approach commonly known as "tax and spend" might have been overused, but its principles are still true. When A spends a dollar with B, B spends part of that dollar with C, who spends part of that, and so forth, until that single dollar becomes [by this "multiplier effect"]

The Glendale Pawn Shop, a Brand Boulevard store specializing in relatively inexpensive jewelry and easily acquired loans, has experienced a recent surge in business as the economy sinks south on continued fiscal concerns. Like other businesses, its profit margin is tied to the economy. But unlike most stores ? where spending usually increases in healthy fiscal periods ? business at the pawn shop is only as good as the economy is bad. ?It?s a very cyclical thing,? manager Meredith Rosenberg said.

A round-table gathering of seven business and economic leaders from Los Angeles County and the region gathered Wednesday in Pasadena to address concerns about the economy, energy prices and the recent closure of 33 IndyMac banks throughout California. The forum was organized by Rep. Adam Schiff, who said its impetus was grounded in a recent telephone town hall meeting that he held in which “80[%] to 90% of the questions that were raised had to do with the economy.” “There’s a level of insecurity in this country that we haven’t seen in years, maybe in decades,” said Schiff, adding that the primary factors were the slumping housing market and soaring energy costs based on “the world’s increasing demand, instability and the finite supply.

GLENDALE — The economy's slight deceleration is no cause for alarm, but the city's empty office space may be a sign of a weak economy, said Jack Kyser, senior vice president and chief economist for the Los Angeles Economic Development Corp. Thursday. Members of the business community, city and school officials gathered at the Hilton Glendale for the Glendale Chamber of Commerce's Economic Outlook 2007 breakfast. "It's to update local businesses on the local and regional economy, providing another benefit for chamber members," chamber Executive Director Judee Kendall said.

Rep. Adam Schiff (D-Burbank) said this past weekend that sequestration - the mandatory across-the-board spending cuts put in place last year and set to go into effect March 1 - would have a disastrous effect on the middle class and the country's recovering economy. Speaking with MSNBC's Alex Witt, Schiff said the cuts would jeopardize all the progress that the economy has made during the past few years and drastically cut jobs and economic growth. “Frankly, it's going to be a disaster for the country,” Schiff said.

Even since the economy began stalling several years ago, there have been dire warnings that crime would rise. But in Southern California, crime continues its long decline despite the weak economy. Indeed, 2011 brought new worries about a "double dip recession," yet streets in many parts of the region were the safest they've been in decades. The trend continues to puzzle some criminologists but has reinforced the view of many in law enforcement that factors other than the economy determine the rise or fall of crime.

The fast-approaching year is already looking to be a bumpy one. Without a redevelopment agency, local officials will have to re-evaluate plans for future projects and rethink how to keep pace with the demand for affordable housing. Redrawn political districts could force local representatives and long-time allies into some uncomfortable contests, such as the potential matchup between Assemblyman Anthony Portantino and state Sen. Carol Liu. The true impact of a state prison realignment program that is expected to send hundreds of nonviolent offenders back into our communities likely will be felt in 2012.

Danny Baca has applied to dozens of jobs and always hears the same line: “We'll get back to you.” But they don't. The Glendale resident is one of several local veterans who are struggling to find employment. The jobless rate in October for those who served during the wars in Afghanistan and Iraq is 12.1% , compared to the civilian rate of 9%. This disparity, which has lasted for several months, has stirred the political pot in the days leading up to Veterans Day. On Thursday, the Senate passed part of President Obama's jobs plan that gives a tax credit to companies that hire veterans . The bill is now pending before the House.

Speaking before a Pasadena crowd of about 150 Wednesday night, Republican presidential candidate Rep.  Michele Bachmann  (R-Minn.) hammered the military and economic policies of President Barack Obama. Bachmann's appearance at the Castle Green Hotel in Old Pasadena came one night after the most recent debate among GOP hopefuls for the White House . The congresswoman, whose campaign has faltered after an early rise to the top of the polls, said Tuesday's debate in Las Vegas didn't offer enough opportunities to address national security, an issue that she said is her main focus.

Maintenance workers at Bob Hope Airport voted overwhelmingly this week to unionize, setting the stage for contract negotiations they hope will result in higher wages and improved benefits. Thirty-one maintenance workers will now join International Union of Operating Engineers Local 501, said Gavin Koon, a Local 501 representative. One worker was out of town the day of the vote, which came in at 29-1 in favor of unionizing, he added. “Very rarely is there such solidarity,” Koon said.

The draining of Echo Park Lake has created quite the stench. Following several complaints over the weekend, the Los Angeles Department of Public Works deposited lime in parts of the lakebed to combat the stink, according to Echo Park Patch . According to a Field Poll released Tuesday , 91% of California voters say the Golden State's economy is experiencing "bad times. " It's the third year in a row that more than 90% of voters have depicted the state's economy in a negative light, the Los Angeles Time s reported.

At the beginning of the fiscal year, City Treasurer Ron Borucki had questioned the market's ability to recover, but was hopeful that despite two-year lows, interest rates would rise. His hopes didn't last long. “Would this third year be the one where the recovery catches fire, where people go back to work, where consumer spending picks up, and where interest rates finally pick up and start to rise? Nope, not this year,” Borucki wrote in a report to the City Council. Glendale's investment portfolio dropped to $409 million, down $39 million from $448 million at the end of last fiscal year, according to the report.

Six local students are heading to college this fall with a few extra dollars in their pockets after being named Glendale Scholarship Endowment recipients. They include 2011 Crescenta Valley High School graduates Camille Johnson, Andrea Kizyma, Justin Trejo, Katrina Yentch and Adena Zadourian, and 2011 Hoover High School graduate Artin Mirzakhanyan. The scholarships ranged from $500 to $1,000 of a total $5,000 that was awarded. Chuck Sambar, a former Glendale Unified teacher, administrator and school board member, founded the Glendale Scholarship Endowment in 2001.

Unseasonably cool temperatures and penny-pinching may be drawing more hikers to local mountains and trails, triggering an uptick in mountain rescues this year, officials said. So far this year, there have been 50 mountain rescues for the Verdugo region, which includes Pasadena, Burbank, Glendale and nine other foothill cities, said Glendale Fire Battalion Chief Greg Godfrey. There were 56 rescues in all of 2010. He said there is a correlation between the number of hikers rescued and the economic recession.  “People are staying closer to home,” Godfrey said.