Recently on California Money:
California's unemployment rate climbed again in
October to its highest rate since World War II. Also,
Central Valley wine grape growers say sales have jumped
six percent over the last year and a half, even as sales
of some higher-priced Napa wines have dropped. And
Northern California's ski industry is getting some
welcome precipitation in advance of the holiday weekend.
Host: Peter Jon Shuler
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For the first time in two years, the Bay Area's
median home price rose in October from the previous
year. Home sales were also up even as foreclosure sales
dropped. That's according to new figures from MDA
Dataquick. But the Mortgage Bankers Association is
warning of a new wave of foreclosures.
Host: Peter Jon Shuler
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State Attorney General Jerry Brown has
announced a settlement with Wells Fargo Investments. The
settlement requires the bank's brokerage unit to return
about $1.3 billion to the firm's clients, whose funds
have been frozen in the auction rate securities market.
Also, federal stimulus funds in the form of family
assistance programs are finally starting to flow in California.
Host: Peter Jon Shuler
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A Sunnyvale-based start up is set to become the
latest of only a handful of tech firms to jump into the
IPO market this year. Fortinet, a network security
provider, is expected to go public tomorrow. Silicon
Valley has seen virtually no IPO activity for nearly two
years. But Fortinet may be just the beginning of a
flurry initial public offerings.
Host: Stephanie Martin
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A delegation of high ranking officials from
Vietnam is in San Francisco this week for a conference
aimed at attracting Bay Area investors. A number of high
profile companies, such as Intel, have already set up
shop in Vietnam. Also, San Jose-based Cisco Systems
today raised its bid for Norwegian videoconferencing
company Tandberg.
Host: Stephanie Martin
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San Jose-based Mi Pueblo Food Center is getting
ready to open a new store in East Palo Alto this
weekend. The opening marks the first time the community
has had a full-service supermarket in more than two
decades. Also, new numbers show California's export
trade beginning to pick up.
Host: Stephanie Martin
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