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Business News

Middletown Merchants plan Jan. 20 expo

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Written by: Editor
Published: 11 January 2011
HIDDEN VALLEY LAKE, Calif. – The Middletown Area Merchants Association (MAMA) will host a home-based business mixer and exposition Thursday, Jan. 20.

 

The mixer will take place from 5:30 p.m. to 7:30 p.m. at the Greenview Restaurant's Greenview Room,19210 Hartmann Road, in Hidden Valley Lake.

 

The event is open to the public.

 

To exhibit, businesses must be members in good standing of the association. There is no cost to member businesses.

 

Each business will have a display table or space. Refreshments will be provided.

 

Space is limited. Contact Gary Graves at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 696-5294 for more information or to register.

 

Visit the association online at www.middletownareamerchants.com.

Controller releases December 2010 cash update

Details
Written by: Editor
Published: 07 January 2011
SACRAMENTO – State Controller John Chiang on Friday released his monthly report covering California’s cash balance, receipts and disbursements in December.


Receipts for the month were $562.5 million, or -5.8 percent, below estimates found in the 2010-11 State Budget.


“It is clear that next year’s budget deficit will not be solved by a surge in revenues,” said Chiang. “Rather than hope for a miracle, lawmakers must take the tough actions necessary to bring the budget back into balance.”


In the month of December, sales taxes were down $50.2 million (-2.3 percent), and personal income taxes came in $64.1 million above (1.3 percent) estimates.


Corporate taxes were down $529.9 million (-25.6 percent), indicating that the unexpected $263 million in November’s corporate tax collections were merely accelerated revenues.


The state faced a $20.8 billion cash deficit on Dec. 31.


That deficit was covered by $10.8 billion of internal borrowing – short term loans from special funds – and $10 billion of external borrowing.


December 2010’s financial statement and the summary analysis can found on the Controller’s Web site at www.sco.ca.gov.

Yee to be sworn in to second BOE term Jan. 4

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Written by: Editor
Published: 03 January 2011
SAN FRANCISCO – Betty T. Yee will be sworn in on January 4 in San Francisco for a second four-year term, serving as one of 12 constitutional officers for the State of California.


The Honorable Lucy H. Koh, Judge, United States District Court Northern District of California, will administer the oath.


Yee represents the Board of Equalization, First District which is comprised of 21 counties in northern and central California that include the nine-county San Francisco Bay Area region, which includes Lake County.


As a board member, Ms. Yee will continue to work hard to ensure California’s tax laws are interpreted and applied correctly, fairly, and consistently when hearing and deciding business and income tax appeals.


The board oversees over 26 revenue programs that provide funding for vital programs such as public education, health care, natural resources and environmental protection, and public safety.


A native of San Francisco, Yee received her bachelor of arts degree in sociology from the University of California, Berkeley, and her master's degree in public administration from Golden Gate University, San Francisco.


She has more than 20 years of public service experience, primarily in the area of state and local finance.

Insurance commissioner urges new governor to protect workers

Details
Written by: Editor
Published: 02 January 2011
SACRAMENTO – Commissioner Poizner sent a letter to Gov.-Elect Jerry Brown on Dec. 30 to urge him to preserve the workers' compensation insurance reforms that have reduced the Workers' Compensation Cost Claims Benchmark by more than 60 percent since its high in 2003.


“We all witnessed the hostile business climate prior to the 2004 reforms and know that if the California economy is to rebound from this great recession, we must not return to those days,” wrote Commissioner Poizner. “While there is a real need to examine the permanent disability schedule, reinstituting the schedule to pre-2004 reform levels would result in a significant increase in the Workers Compensation Cost Claims Benchmark. This increase would likely be reflected in real world rates paid by employers and could slow a recovery by California's economy.”


He also urged the incoming governor to implement reforms to the workers' compensation insurance system that would increase efficiency and reduce costs.


These recommendations, which were the result of a June 2009 hearing on ways to improve the workers' compensation system, included:


  • All insurers should implement pharmacy networks with or without regulations based upon the example set by Safeway and the fact that the provisions of Labor Code Section 4600.2 do not require regulations as a prerequisite.

  • Regulations should be implemented regarding physicians dispensing of pharmaceuticals. Legislation may be necessary to deal with this.

  • Require the prescribing and/or dispensing of generic drug equivalents. Utilization Review needs some utilization review of itself. If a majority of medical requests are going to utilization review and are approved, it is not effective.

  • Utilization review, as it was intended for health care, was for the outlier circumstance. Require billing and payment at fee schedule in return for restrictions on liens.

  • Regulations for electronic billing and a standard medical bill form need to be implemented.


Last year Commissioner Poizner released a top-down review of the Workers Compensation Insurance Rating Bureau and an audit of State Fund, the state's largest workers' compensation insurance company.


Both reviews included specific recommendations that would make the organizations more efficient and successful at their duties.

  1. Brown announces $2.4 million settlement in scheme that fleeced thousands of California companies
  2. California gasoline consumption rose 0.8 percent in third quarter 2010
  3. Sustainable winegrowing assessments workshop planned for Jan. 13
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