Recently on California Money:
The standoff between Google and the Chinese
government is coming to a head this week, as the search
giant appears ready to pull the plug on its Chinese
domain web site. Also, today marks a milestone in the
history of the Internet. On March 15, 1985, a company
called Symbolics registered the very first dot-com
domain name.
Host: Stephanie Martin
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Apple began taking pre-orders for its
much-hyped tablet computer this morning. Apple Insider
reports the firm took advance orders for 50,000 iPads in
the first two hours of sales. Also, strong investor
demand helped California sell 25 percent more bonds this
week than originally forecast. And the White House
confirmed today that Federal Reserve Bank of San
Francisco president Janet Yellin is its top pick for
vice chairman of the Federal Reserve.
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California's foreclosure rate ranked fourth in
the nation last month, moving up from its fifth-place
slot. But according to a survey by Irvine-based
RealtyTrac, the outlook for the state seems to be
improving. Also, concerns about the decline of salmon
in California's rivers are once again threatening the
fishing season along the state's coastline.
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San Francisco suffered a steep drop in
out-of-town visitors last year. City tourism officials
say one million fewer people visited in 2009 than the
previous year -- a decrease of 5.8 percent. Also, new
federal unemployment rankings show California has the
fifth-highest jobless rate in the country.
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San Ramon-based Chevron says it's still feeling
the effects of the recession. The company announced
today that it will cut 2,000 jobs in its refining,
marketing and transportation departments. But there's
some good news on the Bay Area hiring front. Employment
services company Manpower says its most recent survey of
companies in the region shows an increase in firms that
intend to hire new employees.
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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.
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