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Fronnie Lewis - Editor

Tag Archives | economy

Photo: Chuck Kennedy/White House -- President Barack Obama delivers an address on jobs and the economy to a joint session of Congress at the U.S. Capitol September 8, 2011

President Obama calls on Congress to pass the American Jobs Act

President Barack Obama wants to shore up the sagging economy by putting “… more people back to work and more money in the pockets of those who are working.” Last night, in an address to a joint session of Congress at the U.S. Capitol, the president presented the American Jobs Act, which he claims will achieve those goals. THE PRESIDENT:  Mr. Speaker, Mr. Vice President, members of Congress, and fellow Americans: Tonight we meet at an urgent time for our country.  We continue to face an economic crisis that has left millions... Read More →

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Photo courtesy Guest Blogger Jean Youn

Guest Blogger: Labor Day weekend

It is now September and it is Labor Day weekend. It’s just about the end of summer and the beginning of fall. Labor Day was meant for people who work. It is a way for people to be grateful for and find joy in their work by having a well deserved break from work. You hear about a lot of people who are without and can’t find work these days. You also hear about self-employed people and/or small business owners like myself who get little to no business for periods... Read More →

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Photo: FLLewis/Media City G -- Chevron GM Food Mart at Buena Vista Street and Olive Avenue September 1, 2011

Labor Day weekend gas prices not bad

Okay, we’re not seeing self-serve regular for $2 a gallon — but under $4 a gallon is still a good buy. A short while ago, regular gasoline at the pump appeared to be headed for the $5 a gallon mark. The national average for regular today is $3.6, according to triple A.  However, on Labor Day weekend last year the average price was $2.6 a gallon for regular. The same trend can be seen on the state and local levels. The Auto Club reports the state average for regular today $3.9 a... Read More →

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More economic worries: Stocks take another dive

The stock market took a beating again today. Some dramatic swings in the market over the past few days. Worries about the country tumbling into another recession reportedly caused the market to plunge more than 500 points today. When the market closed stocks had gained some ground — ending the day down 419 points. More on the stocks and the economic fears, which have investors jittery and scrambling for cover here on Reuters.

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Photo: Chuck Kennedy/White House -- President Obama spoke to the nation from the White House about the 11th hour budget deal April 8, 2011

A government shutdown is averted by 11th hour deal

After weeks of haggling and last minute wheeling-and-dealing, the powerful Democratic and Republican leaders in Washington , D.C. have reached a historic agreement. It happened last night, shortly before the government would have had to shut down for lack of a budget. The deal include a one-week funding extension, which quickly passed the Senate and the House. President Obama is expected to sign it today.The president spoke to the nation from the White House about the bipartisan deal Friday night. Here is the full text of his statement from the White House blog.... Read More →

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Photo: FLLewis/Media City G -- Chevron station at Main Street and Alameda Avenue in Burbank selling self-serve regular for $4.05 March 18, 2011

Regular gas breaks through the $4 barrier in the Media City

The price of regular gasoline has been hovering very close to that dreaded $4 a gallon mark for several days here in B-town. Today, for the first time, I saw stations with posted prices for regular at a little over $4 a gallon. I began reporting on the appearance of $4 a gallon gas in Burbank about two weeks ago. There are still gas stations in Burbank selling regular a bit cheaper: $3.91, $3.93, and $3.95. I gassed up my ride today for $3.93 gallon. That was bargain when... Read More →

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Photo: Pete Souza/White House -- President Obama spoke to reporters during a news conference at the White House November 3, 2010

What’s next? President Obama talks about last night’s election returns

Reflecting on the returns from yesterday’s mid-term election, President Barack Obama admitted today that he received a  “shellacking” from the voters. At a White House news conference, the president blamed the sluggish economy for voter dissatisfaction and frustration, which resulted in the Republicans gaining a majority in the House and whittling down the Democratic majority in the Senate. Also, the president says he takes responsibility for Tuesday’s disappointing election results: “After what I’m sure was a long night for a lot of you — and needless to say it was for me... Read More →

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clip art of a haunted house

Halloween haunted house business booming

The sluggish economy is still a fright, but thrill seekers are throwing down a lot of bucks at Halloween haunted house attractions this season.  Across the country, haunt houses are doing a bang-up business. In Pennsylvania, the haunted house “PennHurst Asylum” reportedly caused a traffic jam when it opened  a short while ago. The number of Americans planning a scary visit to a haunted attraction jumped to 20.8 percent this year –up more than three percent from 2009, according to the National Research Federation. In a PRNewswire release, Read More →

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Photo: http://gov.ca.gov website -- California Governor Schwarzenegger holds news conference to discuss the passing of the budget in Sacramento 10/08/10

News, Politics & Issues

Governor signs new budget with deep cuts for the needy Finally, following weeks no months of haggling, the state has a new budget. My relief  over the passage of the budget is tempered by Governor Arnold Schwarzenegger’s last minute act of cruelty and elitism. After a hard fought compromise in the legislature, the governor used his line veto to slash more than $960 million from the budget before signing it yesterday. All of the governor’s cuts were directed at social programs including aid to families moving off of welfare and mental health services for children with... Read More →

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Photo Gallery: Warren Buffett meets with President Obama

A heavy discussion in the Oval Office of the White House on Wednesday, July 14, when Billionaire Investor, Warren Buffett, dropped by for a chat with President Barack Obama. Main topics: the struggling economy and jobs.   The Caucus blog on The New York Times website reported on the meeting and mentioned a funny incident with Buffett’s tie.  The President reportedly noticed Buffett’s tie was a bit worn — offered one of his own– and the offer was accepted. Buffett is consider one of the most successful investors in the world. Last March,... Read More →

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City Buzz

  Business is booming at one little shop in Burbank Photo: FLLewis/A Writer’s Groove — Customers waiting in line at Yogurtland in Downtown Burbank While many local businesses are struggling in this tough economy, Yogurtland is packing in the customers and making serious money!  “Business is very good.” Jamileth Mendoza, a shift leader, told me with a broad smile as she worked behind the counter last Saturday, June 26. I was out in Downtown Burbank when I noticed this crowded little pink shop near North San Fernando Boulevard and East Palm Avenue. Photo: FLLewis/A Writer’s Groove —... Read More →

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Good and bad news for Burbank

Burbank has not escaped the bumps and bruises of the brutal recession, but yesterday it got some good news from one of the top financial agencies. Standard and Poor’s upgraded Burbank’s credit rating to “AAA,” the highest grade possible.   S&P credited the Media City with a strong local economy, steady tax base, low debt, high reserve balance, and attractive location in the Southland as reasons for the rate hike, according to a press release on the city’s website. Photo: FLLewis/A Writer’s Groove — East Olive Avenue... Read More →

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President Obama’s State of the Union Address:”We don’t quit”

White House photo: Pete Souza — President Obama delivers the State of the Union Address 01/27/10 More jobs and pumping up the weak economy were major themes in President Obama’s first State of the Union speech delivered before a joint session of Congress last night. And that’s the way it should be. The country, and especially the backbone of the our society — middle class folks — are still struggling under the weight of this recession. ” For these Americans and so many others, change has not come fast enough.  Some... Read More →

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Biz Bytes: Holiday retail sales jolly & Warner Bros. chalks up another multi-billion dollar year

                                             New stats show holiday shoppers spent more this season than last Some Christmas cheer for retailers and good news for the economy today. Consumer spending during the period of November first through Christmas Eve rose 3.6 percent. That’s a heck of a lot better than what happened last year, when fears of economic disaster had shoppers holding tight to their money and thus sales plunged 2.3 percent, according to a report on Reuters. For more on those earlier figures, analysts’ reaction to them, and a look at some... Read More →

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Biz Bytes: Vote on the best plan to save taxpayer dollars & holiday shoppers holding back

Federal employees come up with thousands of ways to save money It was a simple idea, but boy did it pay-off big time. At the end of September, President Obama’s SAVE Award contest was launched by the Office of Management and Budget. Federal workers were asked to come up with ways to save taxpayer money by making the government perform more effectively and efficiently. In three weeks, they got 38,484 entries! Some of the plans were so good that the Obama administration is already working on putting them into practice. The President’s SAVE Award will... Read More →

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President Obama talks about those upbeat job figures, the economy, and where we go from here

Photo: Pete Souza/The White House 12/03/09 President Barack Obama gets it. The economic recovery will not really hit home for many until the sluggish job market is revitalized. Yesterday, the Labor Department reported the national unemployment rate took a surprising dip to 10 percent in November— the best it’s been since December of 2007. Companies laid off 11,000 workers last month, compared to 111,000 in October. A significant improvement.  Still, millions of unemployed Americans searched but did not find work last month.   Meanwhile, the nation’s tally of 2009 bank failures hit 130... Read More →

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News Bytes: Cyber Monday, Black Friday & $123.5 million in free money

 Cyber Monday Sales Up The keyboards were clicking and online shoppers were buying on Cyber Monday. Early data indicates sales were up 14 percent over last year. On the average 4.3 million consumers per minute reportedly visited shopping web sites yesterday. More on the cyber shopping bonanza here.   Black Friday Sales Tumble Big crowds turned out on Black Friday and over the Thanksgiving weekend, but apparently those shoppers were more lookie-loos than serious buyers. Early figures show those shoppers spent 8 percent less than last year — which is really bad news all around. Consumer... Read More →

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Thanksgiving greetings from President Barack Obama

Official White House Photo/Peter Souza — Yesterday President Obama, First Lady Michelle and daughters Malia and Sasha helped distribute food for Thanksgiving to the needy at Martha’s Table, a food pantry in Washington, D.C.   Prepared Remarks of President Barack Obama Weekly Address Thursday, November 26, 2009 For centuries, in peace and in war, in prosperity and in adversity, Americans have paused at this time of year to gather with loved ones and give thanks for life’s blessings. This week, we carry on this distinctly American tradition.  All... Read More →

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Gas prices riding high this Thanksgiving week

Photo: FLLewis/A Writer’s Groove — Burbank Looking for bargains this Thanksgiving week? Head for the malls or shopping centers, but don’t expect to find great deals at the local gasoline pumps.  If you’re hitting the road for Thanksgiving take along some extra cash or plan on swiping your credit card a few times, because the trip is going to cost ya! Last night, I bought almost 7 gallons of regular at the Conoco Phillips 76 station at Alameda Avenue and Victory Boulevard in Burbank for about 20 bucks. The price per... Read More →

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Jobless rates jump! Where is that recovery?

Some grim economic news out today from the federal government about the number of Americans out of work. The federal data shows the unemployment rate continues to rise despite reports from some experts that the recovery from this dreaded recession is underway. The California jobless rate rose from 11.9% to a record high of 12.2% in August, according to the U.S. Bureau of Statistics. The golden state is not so bright for more than 12,000 of its workers who lost their jobs last month and thousands of job seekers who were looking and... Read More →

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Happy Labor Day!

Photo: FLLewis/A Writer’s Groove — Burbank I have some mixed feelings on this Labor Day. Nationally, unemployment is at a 26-year high of 9.7%.  In California, the jobless rate has soared to 11.9%. There is evidence the recession-battered economy is making a slow recovery, an encouraging sign. Still with so many people out of work it’s hard to cheer the upturn in the economy. I may not be cheering, but I’m hopeful. And that is as good as it gets for me on Labor Day 2009.   

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Bummed by rising gas prices at the pumps!

Photo: FLLewis/A Writer’s Groove — Burbank A sure sign of summer, rising gas prices. Wait a minute. Prices at the pumps have been climbing for a while. In fact, a gas spike has been underway for the past seven weeks with “no end in sight”, according to the Automobile Club of Southern California’s Weekend Gas Watch dated June 18, 2009. Locally, the price of gasoline is hovering around $3 a gallon. Last night, I gassed up at a station in Burbank and paid $2.99 a gallon for self-serve regular. I was... Read More →

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