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Previous Posts
Kern unemployment at 13.9 percent in September
Pre-Halloween Christmas displays
Read Florez's letter to the PUC
Know Your Farmer, Know Your Food
Text of Jerald Teixeira plea agreement
What are your kids (or you?) going to be for Halloween?
Update on Forever 21 opening at Valley Plaza
First-time homebuyer credit still available
Facts on Kern come out in American Community Survey
What can you get for your money? See our home sales map
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April 08
May 08
June 08
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January 09
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May 09
June 09
July 09
August 09
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October 09
November 09
The team

Contact us with your news and information:

Christine Peterson, cpeterson@bakersfield.com, 395-7418

John Cox, jcox@bakersfield.com, 395- 7345

Courtenay Edelhart, cedelhart@bakersfield.com, 395-7372

 

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The Bakersfield Convention & Visitors Bureau is under the gun to bring more events here.

Read John Cox's full report on the challenges the bureau faces.

Sure, it's nice to bring conventions and events and people here to spend money. But what events would you like to see here?

What could the bureau work on bringing that would interest you?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, conventions, tourism, economy
posted by MoneyTalks on Friday, February 29, 2008 at 07:22 PM
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The governor is spending $10.5 million for training for construction workers and others who have been laid off because of the downturn in the housing market.

“The housing slump has put many skilled Californians out of work – such as carpenters, steel workers and cement workers," Gov. Arnold Schwarzenegger said in a prepared statement. " But we can continue to use their talents to rebuild our schools, fix our levees and build more freeways. By investing in our infrastructure, we are creating jobs and ensuring California remains competitive in a global economy.”

So that's the help for construction workers.

How are you dealing with the downturn?

— Christine Peterson
 

Posted in these Groups:
Topics: jobs, construction, unemployment, economy
posted by MoneyTalks on Friday, February 29, 2008 at 06:36 PM
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Over the past eight months or so, I've written about a lot of reports that weigh in on the state of Bakersfield's real estate market. Most of them have concluded Bakersfield's market is especially risky.

A few weeks ago my colleague, John Cox, suggested we try to figure out what these reports are used for (aside from giving reporters something to write about) and if they have any real life consequences for borrowers.

You can read the result here.

But long story short, a lot of hopeful homeowners have to jump through more hoops to qualify for a loan.

Anybody out there trying to buy? Got a personal story to share about getting qualified for a loan?

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics:
posted by MoneyTalks on Friday, February 29, 2008 at 05:35 PM
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While it may not appear so as you're driving around Bakersfield, developers and investors are plotting an immense amount of growth.

They're poised the day when the housing market turns a major corner.

Read reporter Jenny Shearer's full report on what's happening in Bakersfield and in eastern Kern County. And see the maps and graphics posted there too.

Posted in these Groups:
Topics: bakersfield, growth, development, homes
posted by MoneyTalks on Friday, February 29, 2008 at 03:20 PM
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Kern County’s unemployment rate rose to 9.9 percent in January, up from 9.4 percent in December and 8.8 percent a year before, according to data released Friday by the state Employment Development Department.

By comparison, California’s unemployment rate in January was 6.3 percent, while the nationwide rate was 5.4 percent.

Read the full report.
 

Posted in these Groups:
Topics: bakersfield, unemployment, jobs
posted by MoneyTalks on Friday, February 29, 2008 at 12:48 PM
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The $8 minimum wage has profound impacts on business, columnist Marylee Shrider writes this week.

She's seeing it in higher prices on menus around town. And the business owners and managers she talked with say it's making them adjust hours down and hold off on hiring.

So was the $8 minimum wage a good move?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, restaurants, economy, Minimum wage, Marylee Shrider
posted by MoneyTalks on Friday, February 29, 2008 at 11:55 AM
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A new wind energy project is on the way to an area west of Rosamond.

The Kern Couny Planning Commisson voted 3-1 Thursday night to support the PdV Wind Energy Project by Power Partners Southwest LLC, an entity affiliated with enXco.

The company wants to put in 100 to 300 wind turbines on nearly 6,000 acres about 15 miles west of Rosamond, according to reporter Jenny Shearer's story.

Read her full report.

Posted in these Groups:
Topics: bakersfield, wind energy, business, Planning Commission
posted by MoneyTalks on Friday, February 29, 2008 at 11:20 AM
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A fellow editor pointed out this column by Glenn Beck, who is on Headline News nightly.

Beck considers whether the economy will fall into "The Greater Depression." He talks with Nouriel Roubini, chairman of RGE Monitor and professor of economics at New York University's Stern School of Business, who lays out 12 steps to financial diaster.

But you don't have to read all 12, because Beck summarizes in real people language what it could all mean in just five.

Beck says it better than I ever could, so go read!

— Christine Peterson

Posted in these Groups:
Topics: economy, finances, Great Depression
posted by MoneyTalks on Thursday, February 28, 2008 at 06:15 PM
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The Bureau of Land Managment wants you. Well, not you, necessarily; almost anyone will do. As long as you live in California, you're a legitimate nominee to the Central California Resource Advisory Council.

Nominations to the council opened today, and the deadline for submissioins is April 14. The best part is, you can even nominate yourself!

It may not be quite so easy to land a position on the council, however. The bureau is looking for individuals that fall within three categories. Category one is open to people representing organizations with business interests on public land (ranchers, oil executives, etc.). Category two is for people involved with environmental, archaeological, historical groups and the like. Category three: government representatives and, yes, "the public-at-large" (that's you!).

The idea, according to the official call for nominations that went out Thursday, is to fill the council with people who have pertinent training, education and knowledge of the area. It would be nice if the members are committed to consensus-building. But don't let that stop you from throwing your and others' hats in the ring!

Download a nomination form here, or call 916-985-4474. Go get 'em!

Posted in these Groups:
Topics: Bureau of Land Management, natural resources
posted by MoneyTalks on Thursday, February 28, 2008 at 01:27 PM
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We shared earlier this week that some 7,100 Starbucks shops would be shuttered Tuesday night for barista retraining.

Is the coffee any different now? Service?

Or are you just as addicted as you always were?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, starbucks, coffee, customer service, restaurants
posted by MoneyTalks on Thursday, February 28, 2008 at 01:07 PM
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9.7 million of you should listen up!

That's how many people use tax preparers this season, according to the Franchise Tax Board. So make sure that person is qualified, because ultimately YOU are responsible for what's on your return.

You have to be a licensed CPA, public accountant, enrolled agent, attorney or registered with of the California Tax Education Council to charge a fee for doing taxes, according to a press release from the tax board.

Here's where to get info on registered tax people:

The California Board of Accountancy licenses CPAs and Public Accountants.

California Society of Certified Public Accountants. 

California Society of Enrolled Agents.  

California Tax Education Council.   

Last year, FTB investigators arrested four tax preparers on felony charges of filing fraudulent tax returns and FTB employees visited 715 tax preparation offices as part of their ongoing efforts targeting unlicensed tax preparers, according to the press release.

Be vigilant!

Some common signs that a tax preparer may be abusive, according to the Tax Board press release, include:
• Claiming they can get bigger refunds than other tax preparers. Someone unfamiliar with your financial situation cannot make such a guarantee.
• Basing their fee on a percentage of the refund amount rather than the complexity of the tax return.
• Filing schedules where the information is fraudulent or lacks documentation to support the income or deductions.
• Refusing to sign the tax return as the paid preparer or not providing a copy for the taxpayer’s records. The preparer is required by law to sign the return.
• Require you to sign a blank return or in pencil.
• The preparer is not properly licensed or registered.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, income taxes
posted by MoneyTalks on Thursday, February 28, 2008 at 12:41 PM
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Location: 2693 Mount Vernon Ave., Bakersfield, CA

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Ross too pricey for you? Then you may be pleased to hear that parent company Ross Stores Inc. is opening a new, more budget-conscious retail concept right here in Bakersfield.

Come Saturday morning, a 25,000-square-foot dd's DISCOUNTS debuts at 2693 Mount Vernon Ave. There you'll find clothing, accessories, shoes, home goods — the kind of products for sale at a Ross. But there's a difference in terms of brands and price points, according to an e-mailed statement by Bobbi Chaville, director of investor and media relations at Ross Stores.

While Ross stores sell fashions you'd expect to find at a department store or specialty retailer, with an average price of $9 to $10 per item, dd's carries clothes you'd see at a "moderate or discount store" with an average price of $7 to $8.

"Value-focused shoppers in Bakersfield will find great bargains every day at dd's Discounts, in a convenient, accessible and easy-to-shop environment," reads a press release issued Thursday morning. It says more than 50 dd's stores have opened nationwide since 2004.

Store hours are 9:30 a.m. to 9 p.m. Monday through Saturday, and 11 a.m. to 6 p.m. Sunday.

Posted in these Groups:
Topics: shopping, discounts, retail, Ross, dd's DISCOUNTS
posted by MoneyTalks on Thursday, February 28, 2008 at 12:15 PM
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Who’s losing their home to foreclosure in Bakersfield?

Teachers, administrators, correctional officers and “normal, typical, picket-fence, college-educated families,” said Kristi Smart.

Smart and her partner, Michelle Gamero, run Elite Property Management, a property management company specializing in higher-end, single family homes.

And since late summer, the two women have seen a steady stream of post-foreclosure families looking for homes to rent.

“They come here really desperate and afraid,” Smart said.

Many are worried their ruined credit will make it hard to rent. Others fret over uprooting their kids in a move, she said. Almost all were first-time homebuyers. Often, the foreclosure is the only black mark on an otherwise clean credit report, Smart said.

“They’re not people to let their debts go by,” Smart said. “They’re not deadbeats at all.”

Many of her clients, Smart said, find the prospect of renting to be a grand relief after trying to scrape up the money needed to meet high monthly loan payments.

“It’s allowing them to breath and relax a little, and spend time with their families,” Smart said.

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics:
posted by MoneyTalks on Thursday, February 28, 2008 at 10:53 AM
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Attention east Kern!

Actor and economist Ben Stein is keynote speaker for the 36th Annual Business Outlook Conference hosted by the Antelope Valley Board of Trade.

It's Friday at the Poppy Pavilon at the AV Fairgrounds.

Tickets? $150 each, or $135 for members. Call 942-9581 to sign up.

— Christine Peterson

Posted in these Groups:
Topics: Antelope Valley, business conference
posted by MoneyTalks on Wednesday, February 27, 2008 at 04:43 PM
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Location: 2900 Calloway Drive, Bakersfield, CA

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A new chain restaurant with a sandwich-focused, deli-style menu will open in northwest Bakersfield in coming weeks, according to the franchisee.

Alley Moyers and her daughter, Sara Moyers, plan to open a Heidi’s Brooklyn Deli on March 10 in The Shops at the Promenade shopping center, just north of Rosedale Highway on Calloway Drive.

“The food’s fabulous,” Moyers said. “Good portions, real good taste,”

Along with sandwiches, the Denver-based Heidi’s menu includes bagels, fresh-baked breads, smoothies and several vegetarian items, she said.

Heidi’s will be located at 2900 Calloway Drive, Building B. The deli will be open from 6 a.m. to 8 p.m., Sunday through Thursday, and from 6 a.m. until 9 p.m. on Friday and Saturday.

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics: bakersfield, restaurant, eating
posted by MoneyTalks on Wednesday, February 27, 2008 at 02:07 PM
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Free counseling is available to help homeowners avoid foreclosure. It's coming to communities thoughout California with the help of an $8 million grant, according to a news release from Gov. Arnold Schwarzenegger's folks.

The money's going to the California Housing Finance Agency and HUD-approved counseling groups along with the Rural Community Assistance Corp.

Get more info.

Here's the list of Central Valley places to get help:
ACORN Housing Corporation, Fresno
ByDesign Financial Solutions, Fresno, Merced, Modesto, Stockton 
Community Housing and Shelter Services, Modesto 
Community Housing Council, Fresno  
Community Services & Employment Training, Inc. (CSET), Visalia
Visionary Home Builders of California, Inc., Stockton 
Project Sentinel, Inc., Sunnyvale

— Christine Peterson

Posted in these Groups:
Topics: mortgages, Real Estate, foreclosure
posted by MoneyTalks on Wednesday, February 27, 2008 at 02:04 PM
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The woman who has patiently talked me through many of the finer points of the home mortgage business, Beth Cheatwood, has started a side gig with her grandkids, selling custom-blended coffee and healthy smoothies at soccer tournaments, festivals and other local events.

Cheatwood and her family cruise to various events with their “tiny little bean trailer” in tow, caffeinating parents on the sidelines and — when enough grandkids are on hand — delivering lattes straight to the stands.

“One of the reasons we did this was to bring our family back together in a way,” Cheatwood said of the Rollin’ Bean concept, which was hatched a few months after Cheatwood’s 37-year-old daughter, Vicki Cheatwood-Moore, succumbed to cancer. (Californian staff writer Emily Hagedorn wrote several articles about Vicki's  struggle last year.)

Cheatwood’s four grandchildren, who run from age 9 to 16, do most of the espresso-making and change-counting, which Cheatwood said has been great for teaching an old-fashioned work ethic. Cheatwood’s husband, son and daughter-in-law also pitch in.

The custom-built Rollin’ Bean trailer arrived in early February, but the family enterprise is already being booked for softball tournaments and high school football games.

“It’s so gratifying,” Cheatwood said. “We turn around when we do something with a school or nonprofit, where we give back to them. We give back to them a percentage of the gross.”

And it’s given the family a sense of purpose, a way to feel united as they learn to live without Cheatwood-Moore.

“We have seen such an amazing resurgence of positive, strong energy,” Cheatwood said.

More information on the business, family bios and details on booking the espresso trailer for an event can be found on the Rollin’ Bean Website. If the Rollin’ Bean is at an event, orders can be placed from the sidelines by dialing 377-BEAN.

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics:
posted by MoneyTalks on Wednesday, February 27, 2008 at 01:08 PM
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Did you know that wildflower lovers contribute to Kern's $1 billion-per-year tourism industry?

That's according to the Kern County Board of Trade, which launched its annual Wildflower Hotline today.

Call 661-322-WILD for info on where to see flowers. Or check out the Board of Trade's tourism Web site.

Kern blooms include the California poppy, Indian paintbrush, desert calico, San Joaquin wooly thread, coreopsis, lupine and other varieties, according to a board press release.

Want to share what you see so others know where to go? Call 800-500-KERN or e-mail kerninfo@co.kern.ca.us.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, wildflowers, tourism
posted by MoneyTalks on Wednesday, February 27, 2008 at 01:05 PM
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Cal State Bakersfield has a new dean for its School of Business and Public Administration.

John Emery, the former dean of the College of Business Administration at University of Texas – Pan American, was appointed to the post, according to a CSUB news release.

Emery will take the spot March 1, the university announced today.

He has a doctorate degree from the University of Washington, and bachelor's and master's degrees from the University of Denver.

According to the CSUB press release, Emery would like to expand evening and weekend classes and have more ways to take classes, such as using more online tools and podcasting.

— Christine Peterson

 

Posted in these Groups:
Topics: bakersfield, Cal State Bakersfield, business, Education
posted by MoneyTalks on Wednesday, February 27, 2008 at 12:33 PM
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Carl Cole, the former Crisp & Cole Real Estate broker now under investigation by the FBI, no longer has a recently acquired job with a coastal real estate company, an office manager confirmed Tuesday afternoon.

“He is no longer affiliated with the company,” said Cristina Better, team leader of Keller Williams Realty’s Camarillo branch at about 4:50 p.m. Tuesday.

Earlier Tuesday, The Californian reported Keller Williams recently hired Cole, 60, to work as a broker/associate in its Camarillo branch, according to a Feb 3. advertisement placed with the Ventura County Star newspaper. Read the whole story.

As many readers know, this story evolved throughout the day. In the morning, we reported Cole had a new job. By the afternoon, we reported he no longer worked at a Ventura County real estate agency.

Along the way, the bloggers were in on the act, making and breaking news themselves. One reported going to the Keller Williams office to inquire about Cole.

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics:
posted by MoneyTalks on Wednesday, February 27, 2008 at 11:58 AM
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Carl Cole, the former Crisp & Cole Real Estate broker and the subject of an ongoing FBI investigation, has a new job selling real estate on the coast.

Keller Williams Realty recently hired Cole, 60, to work in its Camarillo branch as a broker/associate, according to a Feb 3. advertisement placed with the Ventura County Star newspaper.

Cole is also listed as a sales associate on the branch’s Web site, which shows he has four homes listed for sale in Oxnard, Port Hueneme and Camarillo. Read the whole story here.

I'm working on adding more details for the newsprint tomorrow, but if you've got thoughts on the story, feel free to post away.

-Vanessa Gregory, staff writer
 

Posted in these Groups:
Topics: bakersfield, Real Estate
posted by MoneyTalks on Tuesday, February 26, 2008 at 11:08 AM
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Location: Stockdale Highway and California Avenue, Bakersfield, CA

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In addition to the Chick-fil-A, two more businesses are planned for the northeast corner of Stockdale Highway and California Avenue.

They're a CVS and The Vitamin Shoppe, assistant editor John Cox found out.

Read the full story.

Posted in these Groups:
Topics: bakersfield, retail, shopping, restaurants, pharmacy
posted by MoneyTalks on Monday, February 25, 2008 at 06:59 PM
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Here's what assistant editor John Cox dug up today:

Bakersfield’s median price for an existing home declined by 5 percent last month to $227,000, which represents an 18 percent drop from January 2007, the California Association of Realtors reported Monday.

Are we in trouble?

Read his full report.
 

Posted in these Groups:
Topics: bakersfield, Real Estate, homes, mortgage
posted by MoneyTalks on Monday, February 25, 2008 at 05:53 PM
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You'll have to for three hours Tuesday night when Starbucks shutters all 7,100 and some U.S. company-owned stores to retrain its baristas.

The coffee purveyor is waiting until 5:30 p.m., so those who need their early-morning fix and mid-day boost don't need to fret.

Can't wait? Stumbled across this map of Bakersfield locations. You'll know where to go when they open again.

— Christine Peterson

 

Posted in these Groups:
Topics: bakersfield, starbucks, coffee
posted by MoneyTalks on Monday, February 25, 2008 at 05:10 PM
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I guess everyone has a day. Brush your teeth day. Take your daughter to work day. Spay and Neuter Day. (That one, by the way, is real, and it's on Tuesday.)

Turns out there is a National Ag Day, too. This year it's March 11, to coincide with the first day of spring.

The Agriculture Council of America is planning events in Washington, D.C., to draw attention to the role ag plays in our economy. Of course, that's huge in Kern County.

The Ag Council says fewer than 2 percent of our country's people is directly involved in ag production. I would have guessed a little higher.

— Christine Peterson

 

 

Posted in these Groups:
Topics: bakersfield, agriculture
posted by MoneyTalks on Monday, February 25, 2008 at 03:29 PM
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Beware of a phony asphalt or paving service.

That's the warning today from the Contractors State License Board. It warns that a contracting scam is moving through the Central Valley, particularly Fresno, and could be moving to other areas of the state.

This is from a state board press release: "One elderly woman was trying to withdraw $15,000 in cash to pay a contractor, when an alert bank employee tipped off authorities.  It is believed this organized group has peddled its services to dozens of Fresno area residents and may have more victims. The suspects have used the names of: Boswell, Charlie’s Asphalt, Cal Form Paving or Davis Paving. They may have already moved on from Fresno to other parts of the state or even to neighboring states."

Protect yourself, the board urges, by checking a license. If you think you've been a victim of this asphalt scam, call (916) 255-2924.

The licensing board issued these "red flags" to avoid:

• Door-to-door solicitations
• Unsolicited offers to do painting, roofing or paving work
• Claims of leftover materials
• High pressure or scare tactics
• Reluctance to sign a written contract
• Demand for payment in cash
• Brand new vehicles, dump trucks, hauling trailers with out-of-state license plates
• A toll-free telephone number, instead of a local number, as a contact. 

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, consumer alert, scam, Contractors
posted by MoneyTalks on Monday, February 25, 2008 at 03:17 PM
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David Pauling was kicking himself before. Now he's kicking himself harder.

The Bakersfield resident learned Monday (when we told him) that Chick-fil-A plans to open a restaurant in Bakersfield later this year. That hurts, he said, because his father offered not long ago to buy him a franchise. And he turned it down.

If you haven't tried Chick-fil-A, you haven't tried some of the most popular chicken sandwiches in the South. They're simple— buns, pickles, breast of chicken — but they inspire people to drive across town, or farther, to get some.

On Monday, a company spokeswoman confirmed that the Atlanta-based chain expects to open at the northeast corner of Stockdale Highway and California Avenue in the fourth quarter — January at the latest. Two years ago the company opened its first stand-alone restaurant in the Los Angeles area, she said, and now it's time to expand into the Central Valley.

Pauling and his wife, Dana, were more than a little happy with the news.

"It's a fantastic product," he said, adding that the nearest Chick-fil-A he has tried in California was in Sacramento.

His wife was downright superlative as the two of them left the Popeyes on Chester Avenue.

"KFC can just go away. This one (the Popeyes) is good. But Chick-fil-A is the best," she said.

Posted in these Groups:
Topics: restaurants, fast food, Chick-fil-A
posted by MoneyTalks on Monday, February 25, 2008 at 01:57 PM
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Today Gov. Arnold Schwarzenegger's task force on nontraditonal mortgages launched radio announcments meant to help people struggling with payments learn about ways to keep their homes.

It's known as the 90 Days of Hope campaign.

You can listen to them in English and Spanish.

Here's a summary from the task force's press people:

"Real California Family features the Shields Family of Stockton. John and Kelly Shields outline their journey working with a counselor and eventually finding a solution to keep their home.

Real California Dream features Kelly Shields alone sharing her experiences as a mother who strives to live the California dream by keeping her home and raising her family.

Real California Hope is recorded in Spanish and features Secretary Rosario Marin calling upon California’s homeowners to take action to save their homes to reduce effects of the housing crisis on California’s economy."

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, sacramento, Real Estate, mortgages, default, Politics
posted by MoneyTalks on Monday, February 25, 2008 at 01:21 PM
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Our weekly home sales map is up!

No need to grab a map to figure out where streets such as Foxglove Court and Millay Way might be. We've done the work for you.

Check out our map updated with Jan. 7 to Jan. 13 sales. It also includes info for the first week of January. All data is from First American Real Estate Solutions.

Highlights from this week:

• 22 homes sold in Bakersfield.

• the highest sales price was $495,000 for a home in the 93311 ZIP code.

• the lowest sales price was $95,000 for a home in the 93307 ZIP code.

Missed the December map? It's here.

— Christine Peterson

 

Posted in these Groups:
Topics: bakersfield, Real Estate, home sales
posted by MoneyTalks on Sunday, February 24, 2008 at 02:09 PM
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Bako police got search warrants to track down suspected mortgage fraud last fall.

No, not Crisp & Cole.

Agustin Ramirez. He took out more than $4.8 million worth of loans in about 9 months time that have now foreclosed or defaulted.

Two Realtors who may or may not be related to Ramirez were also questioned, court documents show.

Here's the story link. The warrants and two grant deeds with conflicting information are posted for you to download:

http://www.bakersfield.com/...

 

-- Gretchen Wenner, staff writer

 

 

Posted in these Groups:
Topics: Mortgage Fraud, search warrant, bakersfield, Real Estate, Agustin Ramirez
posted by MoneyTalks on Sunday, February 24, 2008 at 08:58 AM
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Almond growers are paying more than ever before for the bee hives that pollinate their crops. And that could eventually lead to higher prices at the grocery store.

This is huge for the local economy, as almonds are a half-million dollar industry just in Kern County.

More than 600,000 acres of almond orchards are farmed in the state.

Kern County produces the largest amounts of the high-protein nuts, according to the state’s Almond Board.

Read reporter Jenny Shearer's full report and take a look at the many pictures to the left.

Posted in these Groups:
Topics: bakersfield, Shafter, agriculture, bees, almonds, crops
posted by MoneyTalks on Friday, February 22, 2008 at 08:15 PM
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Just why are people who live here fascinated when new chain restaurants open? Is it that we want to feel like we're in the big city? Are we already big city? Are we bored, with nothing else to do? Or do we just love to eat?

Assistant editor John Cox spent the last few days (among other work!) sleuthing out what may be behind the motivation of people to wait for hours for a table when Famous Dave's opened, sample appetizers outside while waiting for a seat at Red Lobster or camp out overnight for Krispy Kreme to open.

 Read his full story.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, restaurants, food, dining
posted by MoneyTalks on Friday, February 22, 2008 at 07:26 PM
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If the land dosen't belong to you, then you don't have much say about how it's used.

(Unless it's right by your home and is being used for a couple of purposes, such as a feedlot, rendering plant or a county dump.)

That's columnist Marylee Shrider's take she shares in this week's column.

She knows what it's like when something's moving in. An 80-acre parcel of land near her home will soon become residential development.

So she's bothered by some of the community response to the draft environmental impact report on The Canyons project, comments from people who want to use land they don't own.

— Christine Peterson

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Topics: bakersfield, development, Real Estate, land
posted by MoneyTalks on Friday, February 22, 2008 at 03:25 PM
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The men and women of the Kern County Cattlemen’s Association Inc. will be having a grand time Saturday night as they honor their cattleman and woman of the year.

See who won in assistant editor John Cox's full report.

Posted in these Groups:
Topics: bakersfield, cattle, ranching, economy
posted by MoneyTalks on Friday, February 22, 2008 at 12:34 PM
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The values of more than 40,000 homes suspected of losing value since their purchase are under review by the Kern County Assessor, a process that will reduce property tax bills for many homeowners, but also shrink a critical source of county revenue.

That's according to a report by Vanessa Gregory. Read the story.

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Topics: bakersfield, Real Estate, property values, homes, taxes
posted by MoneyTalks on Friday, February 22, 2008 at 11:31 AM
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Location: Panama Lane and Gosford Road, Bakersfield, CA

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The Bakersfield Planning Commission gave an OK to preliminary design plans for Panama Grove.

It's a shopping center slated for the southwest.

The 50-acre center on the southwest corner of Panama Lane and Gosford Road would bring 580,940 square feet of retail options to neighborhoods that don’t have a lot of shopping close by, reporter Jenny Shearer writes.

It's not known yet what shops will be there.

Read Jenny Shearer's full report.

Posted in these Groups:
Topics: bakersfield, shopping, retail, development
posted by MoneyTalks on Thursday, February 21, 2008 at 08:15 PM
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Driving home from work last night, I passed by two Jack in the Box locations (are they everywhere?) with big signs saying "under construction" but "drive-throughs open." They had colorful signs detailing what's to come, including new furniture, paint, music, decorations, uniforms and packaging.

Time for some investigation on behalf of the fast-food eaters!

I talked with a spokeswoman for Jack today, who said the company began reimaging restaurants in the Bakersfield area in January. Eight restaurants are complete, according to Kathleen Anthony, and eight more are underway or will be soon.

That explains what I saw at the corner of Chester Aveneue and 24th Street downtown and on Oswell Street in northeast Bakersfield.

Kathleen sent a list of the finished "Bakersfield market" restuarants:

 

• 3350 Stine Road
• 8968 Grapevine Road E. (Lebec)
• 73 Frazier Park Mountan Road (Lebec)
• 8320 Rosedale Highway
• 17081 Zachary Road
• 1200 Oak St.
• 114 Weedpatch Highway
• 19587 Highway 65

Anyone checked them out?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, restaurants, fast-food, eating, marketing
posted by MoneyTalks on Thursday, February 21, 2008 at 07:32 PM
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A Bakersfield homebuilder who allegedly engaged in various fraudulent real estate activities is being investigated by the Kern County District Attorney’s office and the United States Attorney’s office, according to Deputy District Attorney Don Mingleton.

The U.S. Attorney’s Office joined in the investigation of Donald Juhasz and his business, DMJ Customs Inc., at some point after Juhasz filed for Chapter 7 bankruptcy in October, Mingleton said.

Read reporter Vanessa Gregory's full report.
 

Posted in these Groups:
Topics: bakersfield, Real Estate, investigaton, homebuilder
posted by MoneyTalks on Thursday, February 21, 2008 at 07:10 PM
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Location: 13129 Rosedale Highway, Bakersfield, CA

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The newest Kern Schools Federal Credit Union branch has opened in Rosedale.
It’s at 13129 Rosedale Highway, just west of Allen Road.

While the 7,000-square-foot branch opened the first of the year, marketing manager Marlene Morales said, a ribbon-cutting will be held at 4:30 p.m. Feb. 28.

The branch has two drive-up windows, a drive-up ATM and a walk-up ATM and a variety of financial services.

The credit union has $1 billion in assets and more than 170,000 members. There are 13 other branches and more than 60 ATM locations. Any Kern County resident can join.

— Christine Peterson

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Topics: bakersfield, credit union, banking
posted by MoneyTalks on Thursday, February 21, 2008 at 01:20 PM
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The number of bank-owned properties listed on the Bakersfield Multiple Listing Service, an index of properties for sale, topped the 1,000 mark Wednesday, according to Jon Vaughn, an agent with RE/MAX Magic and the host of a morning real estate radio show, Real Estate Today, on KGEO AM 1230. (Some might better recognize Vaughn as the writer behind the “Mr. Master of Mortgage Fraud” song that made the internet rounds this summer.)

The MLS showed 1,017 bank-owned properties out of a total of 5,023 listings as of Wednesday, Vaughn said. His tally included 979 single family, condo and HUD properties that have been foreclosed on and repossessed by banks, and 38 bank-owned residential income properties, such as duplexes, triplexes and the like. The MLS includes listings for all of Kern County, as well as a small percentage of properties from other regions, he said.

“It’s going to make it really difficult for sellers out there who are trying to sell properties,” Vaughn said. The increasing inventory will continue to drive prices down, he said.

Read all about it, plus related stories.

In other, less local real estate news, housingwire has a post about mortgage rates posting a big jump despite all the recent interest rate-slashing by the Feds. Fascinating. Anyone care to expand on what’s going on?

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics: bakersfield, Real Estate, homes, foreclosures
posted by MoneyTalks on Thursday, February 21, 2008 at 10:42 AM
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Location: 701 Scofield Ave., Wasco, CA 93280

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More bad guys may be on the way to Wasco State Prison.

Reporter Jenny Shearer writes: The expansion at Wasco State Prison is part of Assembly Bill 900, which Gov. Arnold Schwarzenegger signed in 2007. The idea is to replace nontraditional beds in areas such as gyms and dayrooms with beds in cells.

Wasco could hold 1,900 more inmates, bringing its total number to 8,000 men. More staff, perhaps 1,056 people, would be hired. That would boost employee numbers from about 1,629 to 2,685.

While it would be a big boost to the economy, some people expressed concerns at a Thursday night meeting.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, Wasco, prisons, jobs, economy
posted by MoneyTalks on Wednesday, February 20, 2008 at 08:55 PM
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Location: Panama Lane and Gosford Road, Bakersfield, CA 93313

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06195_A5_In-Line~.pdf

Shhhh. Get in on the secret!

Developers will share what's being planned for about 50 acres in the southwest at Thursday's Bakersfield Planning Commission meeting.

Plus the commission will look at maps for the Shops on Brimhall at the northeast corner of Brimhall Road and Jewetta Avenue, across the street from Liberty Park and near Liberty High School.

Get all the details in reporter Jenny Shearer's story.

The meeting's at 5:30 p.m. at 1501 Truxtun Ave. for those who want to join in.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, shopping, retail, development
posted by MoneyTalks on Wednesday, February 20, 2008 at 07:09 PM
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At least one marketing position has been eliminated at Bakersfield's Valley Plaza Mall, a spokesman for owner and operator, General Growth Properties Inc., confirmed Wednesday.

"This was a decision made at the corporate level," David Keating, a spokesman for General Growth Properties, said in an e-mail.

The company "restructured its marketing organization to be more centrally focused," the e-mail said. "It was not a reflection of the performance of our marketing managers."

-Vanessa Gregory, staff writer

 

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posted by MoneyTalks on Wednesday, February 20, 2008 at 05:41 PM
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Location: 10106 Paradiso Lane, Bakersfield, CA 93306

Jon Hess, the determined would-be homeowner who camped out last Friday to take advantage of major markdowns offered in two Bakersfield communities, got his prize.

"We did indeed get a home," Hess said in a voicemail message Wednesday. "We've got one under contract."

Kym Parsons, a spokeswoman with Hayes Martin Associates Inc., a Newport Beach-based public relations firm for the price-slashing builder, D.R. Horton, said company officials were unavailable to answer questions about how many homes went into contract over the weekend.

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics: bakersfield, Real Estate, home sales, developers
posted by MoneyTalks on Wednesday, February 20, 2008 at 05:22 PM
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HUD's Federal Housing Administration is sending more than 54,000 letters to at-risk homeowners who might be looking for alternatives to their current mortgages.

According to Dawn Golik in the Fresno Office of Field Policy and Management, the letters are going to homeowners "who have already faced or are experiencing the first reset of their adjustable rate mortgages, and live within geographic locations that are currently subject to FHA loan limits nationwide, including the San Joaquin Valley."

— Christine Peterson

Here's a copy of the letter:

Dear Homeowner,

Do you need help with your mortgage?

Your area is experiencing a disturbing home foreclosure rate that has accelerated in recent months. News reports cite the damaging effects of "subprime loans" as a major factor in the unsettled market. By focusing on education and safe mortgage alternatives, though, the Federal Housing Administration (FHA) of the United States Department of Housing and Urban Development (HUD) is working diligently to address this unacceptable foreclosure trend.

Over the past few months, FHA has worked with mortgage loan servicers to identify solutions for the crisis facing current homeowners. Your current mortgage does not have to be FHA insured for you to benefit from our help. If you are facing financial difficulties due to a recent or imminent mortgage reset, or other housing-related difficulty, I urge you to contact us at 1-800-CALL-FHA or to visit  www.fha.gov. There you will have the opportunity to learn about foreclosure prevention, legal rights, and credit counseling, among other topics.

Many homeowners may also be able to take advantage of our recently announced FHASecure program. This new program allows eligible homeowners to refinance into a secure, fixed-rate FHA loan even if they are in default.

Additionally, a new partnership between mortgage companies and non-profit housing counselors called HOPE NOW is available to you. Their mission is simple: reach out to homeowners who may be having difficulty paying their mortgages. For more information or to see if your mortgage company is a member of this caring coalition please go to www.hopenow.com.

Again, please contact us at 1-800-CALL-FHA (800-225-5342) or go to www.fha.gov. As part of the federal government, the Federal Housing Administration wants to help you protect and preserve the American dream - your home.

Sincerely,
Brian Montgomery
 

Posted in these Groups:
Topics: bakersfield, home loans, HUD, Real Estate
posted by MoneyTalks on Wednesday, February 20, 2008 at 12:15 PM
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Even though it's a 45-minute drive each way, we gladly travel to downtown Bakersfield from our home in Frazier Park as many as five days a week. Downtown, we've learned, has some great shops and a lively nightlife. (OK, yes, there's the matter of a paycheck, too.)

Often enough we find ourselves wondering: What more would it take to get more people to visit downtown?

That's the question facing the Downtown Business & Property Owners Association. Or is it? Judging by some of the discussion at the association's State of the Downtown Breakfast this morning at the Bakersfield Museum of Art, the real question may be this: What is it that's keeping people away?

Apparently, downtown parking and transportation are near the top of what we assume is a short list. But now, thanks to Pacific Gas & Electric Co., the list may get shorter.

As incoming association Chairman Bob Bell announced over breakfast, PG&E recently granted the group temporary use of a 10-year-old electric trolley that seats about 20 passengers. Following a new paint job and some work on new sidewalk benches (Bell said bus benches won't work with a trolley), the vehicle should be available for "minimum duty" within three months. It may even pull its own financial weight, given the association's plans to sell advertisements on the trolley's exterior and interior.

That's just the start. Bell hopes to secure the use of a second trolley. There's also the matter of persuading PG&E to "gift" the trolley to the association. With two trolleys the group hopes to schedule runs between hotels, transportation hubs and other downtown destinations.

With any luck, the trolley might one day make daily stops in Frazier Park, where the nightlife is, shall we say, a shade more sedate.

Posted in these Groups:
Topics: downtown, transportation, business association
posted by MoneyTalks on Wednesday, February 20, 2008 at 11:24 AM
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Downtown Bakersfield's Biscuit Boutique & Doggy Spa plans to open a doggie daycare facility by mid-March, according to owner Bonnie Tomlinson.

The market for high-end doggie care exists in Bakersfield, Tomlinson said, and the concept will likely appeal to baby boomers and young professionals who consider their canines to be furry versions of children.

"All the people we've told who come in, who work downtown, are just so excited," she said.

Bako has at least one other doggie daycare spot, Fur & Feathers Luxury Pet Resort on Allen Road.

Tomlinson is converting the old bridal shop, next door to Biscuit, to accomodate 10 to 15 dogs a day, both big and small.

Tentative prices will be $10 for a half-day of canine care, $20 for a full day and $25 if your dog needs a special suite to keep it separated from other pooches.

Stay tuned, dog hotels could be next.

-Vanessa Gregory, staff writer
 

 

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posted by MoneyTalks on Wednesday, February 20, 2008 at 10:47 AM
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The state building association just sent a release with this uplifting headline:

" California Still Leads Nation in Unaffordability"

Here's a link:

http://www.cbia.org/go/cbia...

And the cheery opening:

Despite falling home prices throughout most of the state, California remains the nation’s least affordable market for housing in the fourth quarter of 2007, the California Building Industry Association reported today.

I'm just guessing, but I doubt this subject surprises anyone, especially California natives like moi.

 

-- Gretchen Wenner, staff writer

 

 

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Topics: Real Estate, bakersfield, housing, home prices
posted by MoneyTalks on Wednesday, February 20, 2008 at 10:27 AM
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This press release landed in my e-mail today. Ah, the stuff editors receive.

I've never heard of this list, but it sounded curious. Curious enough to share, as everyone's had good and bad experiences from service companies and seems to have an opinion.

— Christine Peterson

Home Warranty Companies Make Angie’s List Most Complained List for 3rd Straight Year
Annual Review shows Top 10 and Bottom 10 Service Companies for 2007
 
The nation’s home warranty companies have earned the dubious distinction as the most complained-about service in 2007. Thirty-eight percent of the reports for home warranty companies were “F” grades. In addition, architects, structural engineering and solar panel companies made the bottom ten for the second year in a row.

Angie’s List, the nation’s leading consumer ratings service, collected nearly 300,000 reports in 2007 from members who graded service companies on overall experience, price, quality, responsiveness and punctuality. Warranty companies attracted the greatest percentage of “F” grades out of more than 280 categories of service, while veterinarians had the greatest percentage of “A” grades.

“It’s disappointing that the poorly graded companies haven’t taken their customers’ complaints more seriously because they could easily improve their standing,” said Angie Hicks, founder of Angie’s List. “Most of the complaints stemmed from misunderstandings over what the warranty covered or unhappiness with the contractor sent out to diagnose or fix the problem.”

The most common reasons members gave in explaining why they awarded either high or failing grades were strikingly similar: communication and attention to customer service. 

Angie’s List Top 10 worst grade earners:
1.      Warranty companies
2.      Home builders
3.      Furniture sales
4.      Internet service providers
5.      Architects
6.      Structural engineering
7.      Solar panels
8.      Taxi/Shuttle service
9.      Entertainment/party services
10.    Mattresses

Angie’s List Top 10 best grade earners:
1.       Veterinarians
2.       Dog walkers
3.       Piano tuning
4.       Animal training
5.       Hauling
6.       Hair salons/barbers
7.       Upholstery cleaning services
8.       Animal/house sitters
9.       Window cleaners
10.     Lighting services

Posted in these Groups:
Topics: business, service industry
posted by MoneyTalks on Wednesday, February 20, 2008 at 09:27 AM
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.... then you can nominate it for Inc.com’s annual list of the fastest-growing privately held companies in the United States.

The list is dubbed a "tenfold expansion of the 25-year-old Inc. 500, which has featured many companies before they became world-renowned, including Microsoft, Domino’s Pizza, and Oracle."

So why not someone from Bakersfield? From Kern County?

Nominate away. But please tell us about who you're nominating and why too. If we get enough variety here, maybe we'll give them a shout out in The Californian.

And by the way, I learned about this list from a Greater Bakersfield Chamber of Commerce E-news letter. Credit where credit is due.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, privately held companies, economy
posted by MoneyTalks on Tuesday, February 19, 2008 at 09:11 PM
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Location: 7600 District Blvd., Bakersfield, CA

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Hercules Tire & Rubber Co., (you've gotta hear the screeching cars on this Web site) which manufactures, warehouses and distributes tires for retail outlets, is on its way to Kern County, reporter Vanessa Gregory found.

She reports the company has signed a 10-year lease for a southwest Bakersfield warehouse.

Read her full report.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, tires, manufacturing
posted by MoneyTalks on Tuesday, February 19, 2008 at 08:19 PM
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Location: 1434 Flightline St., Mojave, CA 93501

Vacant land — 128 acres of it — next to the Mojave Air & Space Port could become one of Kern County’s largest industrial complexes.

That's what assistant editor John Cox found out Tuesday.

John's story says: "Pending county approval and tenant negotiations, the 2.5 million-square-foot Mojave Industrial Center would become a distribution center drawing rail cargo from the ports of Los Angeles and Long Beach, said Jack Vander Woude, a principal with The Tahiti Group, which bought the property for $2.2 million from several farming families late last year. He estimated the build-out cost at $95 million."

Read the full report.

— Christine Peterson
 

Posted in these Groups:
Topics: Mojave, development, industry, distribution center, economy
posted by MoneyTalks on Tuesday, February 19, 2008 at 08:10 PM
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Apparently lots of local kids want to be petroleum engineers — or at least their teachers think they should consider it.

For the first time in the history of the local event, the annual Engineers Day event sposnored by The Society of Petroleum Engineers, San Joaquin Valley Section, is so booked that schools had to be turned away from this Thursday's festivities, according to John Kaiser, the community outreach director for the local group.

More than 400 high school juniors and seniors in college-prep math and science classes are slated to attend the day at the Kern County Museum.

Kaiser, a petroleum engineer in the local Bureau of Land Management office, noted that the workforce of engineers is aging (and likely retiring), creating a shortage of available engineers to step into those jobs.

— Christine Peterson

 

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Topics: bakersfield, petroleum, jobs, engineers, Education
posted by MoneyTalks on Tuesday, February 19, 2008 at 07:45 PM
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Growers and others in the agriculure industry can learn more able implementing Spray Safe programs in their operations in a meeting set for 9 a.m. to 1:30 p.m. Thursday at the Kern County Fairgrounds.

There will be presentations from local businesses that use Spray Safe. Call 758-6070 for information.
 

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, agriculture, safety
posted by MoneyTalks on Tuesday, February 19, 2008 at 07:02 PM
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Imagine having a home equity line of credit as a sort of reserve. Maybe just in case your mother can't pay her medical bills. Maybe because you work on commission and have it for the days times are bad.

It's happened in Bakersfield. Nobody knows exactly how many people here got letters, but Countrywide Home Loans sent 122,000 letters out across the country to clients saying their lines of credit were suspended.

Reporter Vanessa Gregory found two locals who lost their line of credit, even though they were told by Countrywide that their lines of credit were handled responsibly by the clients. They were told the values of their homes went down, and that's the reason for the change. Read her full report.

So is it right for people's lines of credit to be yanked if they were responsible customers?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, home equity, Real Estate, Lending
posted by MoneyTalks on Tuesday, February 19, 2008 at 05:47 PM
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Check out our latest home sales map.

We have what sold in Bakersfield the first week of January, as compiled by reporter Vanessa Gregory. Information comes from First American Real Estate Solutions.

Some interesting notes for Jan. 1 to Jan. 7:

• 18 homes were sold.

• 5 sold for less than $150,000.

• The highest sales price for the week was $350,000, a home in the 93314 ZIP code.

Didn't catch the map for December? Find it here.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, Real Estate, home sales, development
posted by MoneyTalks on Tuesday, February 19, 2008 at 12:25 PM
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Here's a copy of the letter Gov. Arnold Schwarzenegger sent to U.S. Secretary of Agriculture Ed Schafer this morning about recalling meat from Hallmark/Westland Meat Packing Co.

Check it out:

February 18, 2008

The Honorable Ed Schafer
Secretary of Agriculture
1400 Independence Avenue, SW
Washington, DC  20250
 
Dear Mr. Secretary,
 
The announcement on February 17 of a recall of product from the Hallmark/Westland Meat Packing Company, if the allegations prove true, represents one of the worst violations of food safety laws in the country and one of the most egregious cases of animal cruelty I've ever seen.  Because the State of California has no jurisdiction in this matter, my administration stands ready to assist the U.S. Department of Agriculture in this investigation in any way possible.
 
Protecting consumers, particularly children, from willful and deliberate violations of food safety laws is among the most important responsibilities of government.  If these allegations are proven to be true and an isolated case, we expect full criminal prosecution.  If this is a willful and broad-based corporate practice, we urge you to shut the plant down and pursue full prosecution of those involved.
 
We all take pride in the fact that the United States food supply is one of the safest in the world.  California especially prides itself on having among the most robust agriculture and ranching industries in the world.
 
We urge swift investigation and action so that the public confidence in our food supply is not lost and a message is sent that mistreatment of animals will not be tolerated by anyone.  My California Department of Food and Agriculture is prepared to support you in any way necessary.
 
Sincerely,
Arnold Schwarzenegger

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Topics: Gov. Schwarzenegger, meat recall
posted by MoneyTalks on Tuesday, February 19, 2008 at 11:01 AM
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Cal State Bakersfield has some budding financial planners.

Cal State Bakersfield's "Students in Free Enterprise" team won the regional championships in Denver and gets to play at the national finals in March, according to a news release from the university. 

CSUB beat teams from Brigham Young University, Bryant University and Colorado State University.

According to the release, teams get hypothetical cases about families in financial trouble. Students had 36 hours to research the problems and devise a financial plan.

Students Joleen Camacho, Kimberly Cooter, Brennan Ott and Amy Zachary made up the team. They're coached by David Olson, CSUB professor of management. 

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, csub, financial planning
posted by MoneyTalks on Tuesday, February 19, 2008 at 09:08 AM
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Location: 10106 Paradiso Lane, Bakersfield, CA 93306

Deeply discounted new homes go on sale Saturday in two northeast Bakersfield communities, an event that has inspired stakeout tactics in some would-be homeowners and a measure of concern among those who paid full price to live in the neighborhoods.

D.R. Horton Inc., a national homebuilder based in Fort Worth, Texas, is selling homes at up to a 50 percent discount in 23 Southern California developments starting this weekend. Bakersfield’s Contessa’s Vineyard II and Lavender Trails neighborhoods, both located in the larger City in the Hills development, are part of the first-come, first-served sale.

One home plan, formerly listed for $380,000, has been reduced 48 percent to $199,990, according to a company sales flier. Read the whole story.

Anybody going to jump on these sales? Are the sales a good idea? Is this the start of a discounting trend?

-Vanessa Gregory, staff writer

Posted in these Groups:
Topics: bakersfield, home sales, development, D.R. Horton
posted by MoneyTalks on Friday, February 15, 2008 at 07:54 PM
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Kern County’s economic growth rate fell to 1.6 percent in the last three months of the year, down from a 2.6 percent rate of growth between July and September 2007, according to a new issue of Cal State Bakersfield’s Kern Economic Journal. 

A soft housing market, mixed labor market and decreased consumer confidence are examined, according to a CSUB news release. The report is free online.

--Vanessa Gregory, staff writer

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posted by MoneyTalks on Friday, February 15, 2008 at 05:46 PM
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Location: 7777 Rosedale Highway, Bakersfield, CA

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We know how people react to restaurant openings around here. Go! Go the first day! Go before the first day if you can nab an invite!

Famous Dave's, a national BBQ shop, opens to the public after a 10 a.m. Monday "rib-cutting." No word yet on what exactly that entails. Use your imagination.

Get the menu.

They're holding a "passing of the embers" ceremony Monday. That's where the embers from the most recently opened restaurant to start the smokers at the new location, according to a Favous Dave's press release.

The go before the place even opens? They're holding VIP parties for invited guests Friday and Saturday with proceeds going to the Bakersfield Salvation Army.

We're a business blog, so we must note they're planning to have more than 200 employees.

Reporter Shellie Branco has all the details on the opening in her story.

 

— Christine Peterson

 

Posted in these Groups:
Topics: bakersfield, barbecue, restaurant, food
posted by MoneyTalks on Friday, February 15, 2008 at 02:46 PM
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A few real estate items for the hungry out there. Bad news yadda yadda. Here goes.

One: Local defaults and foreclosures set new records (again) last month. Here's a link to existing story/PDFs. I'll update later in the day with more graphs:

http://www.bakersfield.com/...

Two: State building association's latest grim report out today:

http://www.cbia.org/go/cbia...

Three: Here's a link to a recent story in the Sacramento Business Journal about serious financial troubles for Sacto-based developer Reynen & Bardis, which has numerous projects in Kern (at least one in default):

http://sacramento.bizjourna...

Four: Here's a hilarious powerpoint slideshow on The Big Picture blog; you have to manually click through the slides.

Warning: This is gallows humor about the subprime market and includes -- gasp -- four-letter words. Not for the sqeamish or folks with kids reading over their shoulders:

http://bigpicture.typepad.c...

Back later,

Gretchen Wenner, staff writer

 

 

 

Posted in these Groups:
Topics: bakersfield, Real Estate, subprime, foreclosures, defaults, Housing market
posted by MoneyTalks on Friday, February 15, 2008 at 12:50 PM
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Location: 2737 W. Cecil Ave., Delano, CA 93215

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A point possibly lost in the debate about prison expansion — and whether the ones in Kern should get more inmates — is the "mitgation funds" the county gets for each inmate.

It's $800 annually, according to Jenny Shearer's report from a Thursday night meeting where expansion plans at North Kern State Prison were discussed.

North Kern could gain 1,000 more inmates, which would bring more money to the county, and possibly Delano. The mayor would like to see more of the money go to her city.

— Christine Peterson

Posted in these Groups:
Topics: delano, taxes, prisons
posted by MoneyTalks on Friday, February 15, 2008 at 12:39 PM
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Location: Lebec Road and Houser Avenue, Lebec, Ca

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Vacant land at the southwest corner of Lebec Road and Houser Avenue could sprout into 32 residential lots, following a zone change OK'd by the Kern County Planning Commission.

Not everyone at the meeting was happy about the plan. Read Jenney Shearer's full report, including details about a new sanctuary for a church and other votes taken.

Should the mountain community get new homes?

— Christine Peterson

Posted in these Groups:
Topics: Lebec, Kern County Planning Commission, homes, Real Estate, development
posted by MoneyTalks on Friday, February 15, 2008 at 09:24 AM
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More bad Bakersfield news.

Our fair city ranks 14th in the country for identity theft consumer complaints per capita, according to the Federal Trade Commission's report, "Consumer Fraud and Identity Theft Complaint Data."

We logged 184.1 complaints per 100,000 population, or 1,436 complaints, in 2007.

Who's worst? Napa, followed by Madera, of course both in California. Others in our state worse than us are Vallejo-Fairfield, Hanford-Corcoran and Yuba City.

Have you been a victim?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, consumer fraud, identify theft, Federal Trade Commission
posted by MoneyTalks on Thursday, February 14, 2008 at 05:21 PM
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Location: 1116 Airport Drive, Bakersfield, CA

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Local businessman John Getty has opened Sound Waves, a new business at Airport Drive and Wilson Road that offers everything cars. He's building on a wholesale business he's had for years.

While it's been open since Jan. 2, he's having a grand opening and ribbon-cutting at 1 p.m. Friday, Feb. 29.

The store is open 8 a.m. to 5 p.m. Monday through Saturday at 1116 Airport Drive.

"A lot of the neighbors have come in already," Getty said today.

And neighbors are part of the story. Getty said he bought up property that included a long-standing vacant commercial building and two run-down houses. He's spiffed up and remodeled the houses and rented them out, and refurbished the business building.

So what can you buy? A sampling: Aftermarket car and truck accessories, including alarm installation, bed liners, running boards, GPS navigation, tool boxes, reverse safety systems, chrome accessories, car audio and hands-free cellular equipment.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, business, cars, trucks, Sound Waves
posted by MoneyTalks on Thursday, February 14, 2008 at 11:58 AM
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GMAC Bank issued a memo to branch managers, underwriters and the like last month, that begins:

"Effective for loans registered with GMAC Bank on or after January 7, 2008


"GMAC Bank Correspondent Funding (GMACB) Approved Correspondents please take notice; current home price trends indicate that home values continue to decline in many markets across the country. As a result, and based on continued monitoring of loan performance, GMAC Bank is reinstating a policy to restrict the maximum loan-to-value (LTV) ratio and combined loan-to-value (CLTV) ratio for properties located within a declining market to five percentage points less than the maximum permitted for the selected mortgage product."

It goes on to direct folks to the GMAC Bank Market Indicator Portal, which spits out assessments for market conditions in any given ZIP code. A "D" indicates a declining market, the memo states.

It's another example of credit tightening, especially for borrowers in tough residential real estate markets.

--Vanessa Gregory, staff writer

Posted in these Groups:
Topics: Lending, Real Estate, home loans, mortgages, market, GMAC, borrowers
posted by MoneyTalks on Thursday, February 14, 2008 at 11:22 AM
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Location: Rosamond, CA

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Gold mining could start up again at the Tropico gold mine in Rosamond, according to a report today by Antelope Valley Press reporter James Rufus Koren. 

Owners have applied for state and county permits, the story says.

The federal Bureau of Land Management found toxic levels of arsenic there, according to the Press' story.

Posted in these Groups:
Topics: Rosamond, gold, mining
posted by MoneyTalks on Thursday, February 14, 2008 at 10:37 AM
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The company that runs Bakersfield’s HomeTown Buffet and Tahoe Joe’s Famous Steakhouse restaurants filed Chapter 11 bankruptcy.

But the Bakersfield locations are spared for now, according to reporter Vanessa Gregory's full report.

Eat up!

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, restaurants, HomeTown Buffett, Tahoe Joe's Famous Steakhouse, Bankruptcy
posted by MoneyTalks on Wednesday, February 13, 2008 at 06:49 PM
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I walked out of my house this morning, locked the front door and saw a NOTICE in big, bold letters taped to my house.

It said that "tomorrow" people would paint new black numbers on my curve for $5 — and I could pick a picture such as a rose or flag for even more money.

The words suggested I needed new black numbers so an ambulance could find me if I were dying or the police would find me faster if I needed help.

What bugged me is considering the official-like language on the sheet, there was no goverment agency or business listed on the paper. Just who was offering this "service?"

I wrote a big fat NO on the sheet and left it posted to my door! I don't do business with anonymous note-posters.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, business
posted by MoneyTalks on Wednesday, February 13, 2008 at 06:32 PM
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Here's an opportunity for employers from the Greater Bakersfield Chamber of Commerce.

This press release comes from the chamber:

Greater Bakersfield Chamber of Commerce brings Disney Institute
training to town for return engagement

 
The Greater Bakersfield Chamber of Commerce welcomes the world-renowned Disney Institute Keys to Excellence for a day of learning, insight and inspiration on Thursday, March 6, 7:30 a.m.-4:30 p.m. at the DoubleTree Hotel.

According to GBCC President/CEO Debra Moreno, “This is a rare opportunity for local leaders, executives, managers and staff in any size organization to obtain an inside look at the ‘business behind the magic’ from Walt Disney World employees.”

Presented in four 90-minute sessions, each focuses on a different aspect of Walt Disney World Resorts corporate culture, including Leadership, Management, Service and Loyalty Disney Style.

Space is still available for this outstanding program that spotlights the successful business practices and unique philosophies that have made the Disney name synonymous with creativity, quality and innovation the world over. For information or to register, call the Chamber, 327-4421.
 

Posted in these Groups:
Topics: bakersfield, Disney Institute, employment, Chamber of Commerce
posted by MoneyTalks on Wednesday, February 13, 2008 at 10:56 AM
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Location: 1009 11th Ave., Delano, CA

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Delayed! At least for now, with some lawsuits pending.

It was to be part of a project known as the Delano Marketplace, on which city officials were pinning hopes of additions to their tax base.

There's a meeting at 6 tonight at the Civic Center, 1009 11th Ave., Delano, for the public to get its questions answered.

Read reporter Jenny Shearer's full report. Jenny will be there tonight to bring us the latest.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, delano, shopping, Wal-Mart
posted by MoneyTalks on Wednesday, February 13, 2008 at 09:20 AM
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Okay, maybe everybody else has seen this little video, but I didn't watch this until a source mentioned it yesterday.

Slightly nauseating, but also pretty clever, the video illustrates a century's worth of U.S. home price fluctuations as an animated roller coaster ride.

--Vanessa Gregory, staff writer

Posted in these Groups:
Topics: Real Estate, home prices, roller coaster
posted by MoneyTalks on Wednesday, February 13, 2008 at 09:14 AM
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Location: 3320 Truxtun Ave. #150, Bakersfield, CA 93301

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Valentine's Day isn't just for couples — or making a lot of money.

The Garden Spot Restaurant is offering a free dinner of chicken, salad, pasta, muffins, bread and dessert bars to singles Thursday night. Beer and wine will be sold.

It's from 6 to 9 p.m. and you need reservations. Call 323-3236.

 

I got to talk to owner Keith Barnes this morning. He's a single guy. Here's a summary of what he had to say.

Q. How did you come up with this idea?

A. I was in the shower on Monday morning thinking about what I was going to do for Valentine's Day. And I was wondering how to bring people to the restaurant on that day. And I came up with this.

Q. Why do it?

A."It's good for the heart in more ways than one."

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, restaurants, dining
posted by MoneyTalks on Wednesday, February 13, 2008 at 09:08 AM
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Have you tasted the new McCafe selections at McDonald's? What do you think?

Watch our video from the first day of taste-tests in Bakersfield.

And read assistant editor John Cox's full report on the unveiling of the new tastes.

 

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, coffee, McDonald's, fast food
posted by MoneyTalks on Tuesday, February 12, 2008 at 12:04 PM
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Some days you just have to laugh — especially when certain press releases cross your desk. Who comes up with this stuff?

But hey, Cintas Corp. is looking for the cleanest restroom in corporate America. And the winner gets featured on “America’s Best Restroom Hall of Fame.” No kidding.

Maybe Bakersfield has a chance.

— Christine Peterson


Here's the press release, in the company's own words:

Nominations Now Being Accepted for Cintas Corporation’s
Seventh Annual America’s Best Restroom Award

CINCINNATI, OH – February 12, 2008 – Nominations are now being accepted for
the seventh annual “America’s Best Restroom Award” - presented by Cintas
Corporation’s Facility Services Division. Nominations can be submitted at
www.bestrestroom.com through April 7, 2008.  Up to 10 finalists will be
announced in May, at which time the Internet public will be asked to cast
their votes.  The winner will be announced in August of 2008 and receive the
coveted “America’s Best Restroom” plaque of recognition from Cintas. The top
five vote-getters will secure their place in the “America’s Best Restroom
Hall of Fame” found at www.bestrestroom.com.

Cintas’ “America’s Best Restroom” contest is open to any non-residential
restroom that is free of charge and open to employees, visitors or the
general public.  Nominators are not required to have a professional
relationship with the business or staff that manages the facility, but
personal experience is encouraged. Past champions have boasted breathtaking
skyline views, unique décor and sparkling fixtures.
 
“The important message here is restroom hygiene matters - for good health
and good business," said Kirk Kirssin, Cintas Director of Marketing.  Cintas
created the “Best Restroom Award” to honor businesses that combine good
hygiene with functionality and exceptional style in their public restrooms.
The contest has attracted tens of thousands of votes since its inception in
2002. 

Previous winners include the University of Notre Dame in South Bend, IN, the
Grand Casino in Biloxi, MS, the Kohler Art Center in Sheboygan, WI, the Fort
Smith Regional Airport in Fort Smith, AR, Wendell’s Restaurant in
Westerville, OH and Jungle Jim’s International Market in Fairfield, OH.

Posted in these Groups:
Topics: bakersfield, restrooms
posted by MoneyTalks on Tuesday, February 12, 2008 at 11:47 AM
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Check out the homes sold in Bakersfield from Dec. 24 to Dec. 30 in our color-coded map.

You can see where the homes are, how much they sold for, square footage and more. This map shows homes sold from mid-December to almost  the end of the month.

Reporter Vanessa Gregory compiles these numbers for us each week.

See what's selling in your neighborhood.

– Christine Peterson

Posted in these Groups:
Topics: bakersfield, Real Estate, homes
posted by MoneyTalks on Tuesday, February 12, 2008 at 11:05 AM
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Is it any wonder businesses get any work done for about a week in February?

OK, I am exaggerating a bit. Certainly work is accomplished every day in private business, schools, courts, the DMV, banks, state, local and federal agencies. But it can sure be confusing WHEN the work's getting done.

Everyone seems to have different days off for Lincoln's Birthday. Feb. 11 or Feb. 12 this year? And Presidents Day? Feb. 18 this year, pretty universal. But some places tack on Feb. 15 to make a four-day weekend.

And are we actually remembering the presidents on those days, or going to Pismo?

All very confusing.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, holidays, employment
posted by MoneyTalks on Tuesday, February 12, 2008 at 09:08 AM
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Location: 1009 11th St., Delano, CA

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We had a story last summer about plans for a shopping center and mixed use development in Delano. The Delano City Council gave its nod to a report on the environmental impacts of such a project, known as the Marketplace.

Officials in the city hailed it as a great development for the area, and one that would bring in sales taxes to benefit the city.

But now the project could be stalled, according to an e-mail mayor pro-tem Sam Ramirez sent to us.

There will be a "find out the facts" meeting at 6 p.m. Wednesday so people can find out more about the project's status. The Town Hall forum will be at the Civic Center, 1009 11th Ave. in Delano.

— Christine Peterson

Posted in these Groups:
Topics: delano, bakersfield, shopping, development
posted by MoneyTalks on Monday, February 11, 2008 at 04:23 PM
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A former Crisp & Cole Real Estate employee who owes more than $4.2 million in outstanding mortgage payments and other unpaid bills filed bankruptcy last week, court records show.

Zane Richards, a former office worker for the now-defunct real estate firm, filed Chapter 7 bankruptcy seeking forgiveness of a mound of debt, including unpaid property taxes, credit card bills and utilities charges.

Richards declined to comment on the filing, but one of his lawyers, Fresno-based Carl Faller, said his client’s situation was similar to that of several others who became involved with the Crisp & Cole agency, which is now the subject of a federal investigation.

“What’s happened to him was, basically, collateral damages from the business practices Crisp & Cole were engaged in,” Faller said. Read the whole story.

So what do you guys think? Does Richards' financial trouble fit the definition of "collateral damage"?

--Vanessa Gregory, staff writer

 

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Topics:
posted by MoneyTalks on Monday, February 11, 2008 at 02:54 PM
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Location: 35089 Merle Haggard Drive, Bakersfield, CA

The signs are up declaring a section of the former Seventh Standard Road as "Merle Haggard Drive."

But at noon Wednesday officials with the Board of Trade are going to make it super-official with a dedication at Bakersfield Harley Davidson, 35089 Merle Haggard Drive

They say Mr. Haggard and other pioneers of The Bakersfield Sound will be there. Anyone can go.

Plus, according to a press release from organizers, a private effort is afoot to make a green belt adjacent to Merle's street. The North of the River Chamber of Commerce will coordinate efforts to raise money for "Hag's Place." 

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, Merle Haggard, streets
posted by MoneyTalks on Monday, February 11, 2008 at 01:56 PM
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Just this morning President Bush urged Congress to do more to help people and businesses hurt by the housing market and credit crunch, according to the Associated Press.

The AP went on to report, "Bush said that other steps need to be taken to strengthen the economy, and he exhorted Congress to make his tax cut permanent and do more to help struggling homeowners.

Bush urged lawmakers to pass additional legislation that would revamp mortgage giants Fannie Mae and Freddie Mac and modernize the Depression-era Federal Housing Administration, which insures mortgages for low- and middle-income borrowers. The president also said Congress should approve legislation allowing state housing agencies to issue tax-free bonds to help squeezed homeowners refinance their mortgages.

These and other steps could help struggling homeowners “weather turbulent times in the market,” Bush said."

Posted in these Groups:
Topics: economy, President Bush, credit, tax cuts, mortgage
posted by MoneyTalks on Monday, February 11, 2008 at 12:19 PM
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McDonald's is testing out its new McCafe at Bakersfield restaurants.

And according to a big ad in Sunday's paper, every Monday through March 31 you can get a sample of the new McCafe coffees anytime during the day, no purchase necessary.

Assistant editor John Cox was out covering the story this morning, and will have a full report later today.

You likely won't see me testing out the coffee — at McDonald's or anywhere! I'm just too much of  a soda drinker. So I'll leave it to all of you to decide who locally has the best coffee for the best price.

The competition should be interesting to watch. Will Starbucks come up with a way to fight back?

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, McDonald's, coffee
posted by MoneyTalks on Monday, February 11, 2008 at 12:09 PM
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Location: 1001 Truxtun Ave., Bakersfield, CA

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We don't have the Bakersfield Business Conference any more, but we do have the Bakersfield Women's Business Conference. And this year's, slated for April 17, will the 19th in the community, and will be at the Rabobank Arena, Theater and Convention Center.

Soledad O'Brien, CNN special correspondent and news anchor, will focus on “brains, beauty and balance” in the lives of successful working women. According to a press release from conference organizers, she was the only broadcast journalist allowed to travel with First Lady Laura Bush on her trip to Moscow.

The opening speaker is Jeanne Robertson, talking about  surviving and succeeding as a woman in the business world. 

The closing speaker is Anne Ryder, a TV journalist and speaker.

Registration at $90 for the daylong conference begins in about a month. Check out the Options Unlimited Web site.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, business, women
posted by MoneyTalks on Monday, February 11, 2008 at 11:57 AM
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The state's looking at adding more prison beds to Kern.

Specifically, officials are considering more "infill" beds at North Kern State Prison and Kern Valley State Prison in Delano, Wasco State Prison and California Correctional Institution in Tehachapi.

A spokesman for the prisons told reporter Jenny Shearer that "infill" beds are meant to alleviate crowding at existing prison sites. Read her full report.

Jenny Shearer reports there are ways you can give feedback on the proposals. Here's  the info:

North Kern State Prison
4 p.m. Thursday, council chambers, Delano City Hall, 1015 11th Ave., Delano
By mail: Roxanne Henriquez, senior environmental planner, California Department of Corrections and Rehabilitation, Division of Facility Planning, Construction and Management, 9838 Old Placerville Road, Suite B, Sacramento, CA, 95827.

Wasco State Prison
4 p.m. Feb. 20, council chambers, Wasco City Hall, 746 8th St., Wasco
By mail: John Sharp, senior environmental planner, California Department of Corrections and Rehabilitation, Division of Facility Planning, Construction and Management, 9838 Old Placerville Road, Suite B, Sacramento, CA, 95827.
Feedback for both projects is due by the end of the month.

Posted in these Groups:
Topics: bakersfield, prison, growth, development, delano, Wasco, Tehachapi
posted by MoneyTalks on Monday, February 11, 2008 at 11:42 AM
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A year-end sale of southwest land formerly slated to become two Corky McMillin Cos. subdivisions may suggest some builders are looking to pare down their holdings as Bakersfield home prices tank.

 

KRP Panama LLC bought about 230 lots near Panama Lane and Stine Road from Casa Azul Land LLC, an affiliate company of the San Diego-based McMillin, on Dec. 28, county records show.

Tom Carosella, the Bakersfield developer who formed KRP Panama with Visalia-based partner Joe Leal, declined to state the sale price. But he paid less than the $9.6 million county records show a McMillin company bought the land for in 2005, he said.

A McMillin representative also declined to state the price but said the sale was profitable for the company.

Price and location made the land a good deal, Carosella said. McMillin wanted to sell excess land to get it off its balance sheets, he said. Read the whole story.

--Vanessa Gregory, staff writer

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posted by MoneyTalks on Saturday, February 9, 2008 at 08:17 AM
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Location: Avenue 184, Tulare, CA

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One will be raffled off at the 2008 World Ag Expo, according to reporter Vanessa Gregory's story on the event slated for next week.

Here are the details:

Dates: Feb. 12-14

Hours: 8 a.m. to 5 p.m. Tuesday and Wednesday, 8 a.m. to 4 p.m. Thursday

Admission: $10, or $9 with advance registration online

Directions: Heading north on Highway 99, exit Avenue 184 or Avenue 200 and follow the signs.

Web site: www.worldagexpo.com

Posted in these Groups:
Topics: bakersfield, Tulare, World Ag Expo, agriculture
posted by MoneyTalks on Friday, February 8, 2008 at 05:50 PM
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Yesterday we got a map going of home sales by week.

Now we've got it color-coded by sales price. So if you're just interested in homes that sold for, say, $200K to $250K, you can pick those without looking at every sale.

See it here.

We'll add to it every week, with a new map for each month.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, Real Estate, home sales
posted by MoneyTalks on Friday, February 8, 2008 at 01:59 PM
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Sinking, sinkng, sunk.

The Associated Press reported this morning that "People’s confidence in the economy sank even lower amid heightened fears about shrinking job opportunities and the possibility the country is falling into recession.

According to the RBC Cash Index, confidence dropped to a mark of 48.5 in early February, from 56.3 last month. The new reading was the worst since the index began in 2002 and surpassed the previous low reached in January."

Is it that bad?

Posted in these Groups:
Topics: economy, consumer confidence, jobs, recession
posted by MoneyTalks on Friday, February 8, 2008 at 11:39 AM
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What do you think of a large development slated for northeast Bakersfield? The city's Planning Commission heard comments about it Thursday night, and took a look at the report on environmental impacts.

Reporter Jenny Shearer was there and brings us this report.

You can also read the draft environmental impact reports for The Canyons and a potential new southwest shopping center.

Tell us what you think ... and the city's taking official comments at the Development Services Department, Planning Division, 1715 Chester Ave., Bakersfield, 93301, or by  e-mail to DevPln@bakersfieldcity.us.

Posted in these Groups:
Topics: bakersfield, The Canyons, development, Real Estate, shopping
posted by MoneyTalks on Friday, February 8, 2008 at 09:00 AM
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We have a new toy in the newsroom. Or some might say it's not new but I've learned how to use it! So that's new, right?

Each week, we're planning to bring you a map of local home sales. Now sure, there is some lag time between sales and when they pop up on the service we use. So today you get a list from mid-December.

But you can find out all kinds of stuff like sales price, square footage and location, location, location. Because that's what it's all about, right?

No need to grab a map, because we've done it for you.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, home sales
posted by MoneyTalks on Thursday, February 7, 2008 at 02:21 PM
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We like to focus on local news in this blog, but we figured you'd want the latest national housing news. This "urgent" post comes from the Associated Press:

By ALAN ZIBEL  AP Business Writer

WASHINGTON (AP) — Industry data released Thursday show pending U.S. home sales fell 1.5 percent in December to the second-lowest reading on record, another indication that the housing market is worsening.

The National Association of Realtors said its seasonally adjusted index of pending sales for existing homes fell to a reading of 85.9 from a downwardly revised November index of 87.2. The reading was just short of the record low of 85.5 it hit in August, at the peak of the worldwide credit squeeze.

Analysts had predicted the index would rise to a reading of 88, according to the consensus forecast of Wall Street economists surveyed by Thomson/IFR.

Typically there is a one to two-month lag between when a buyer signs a home sales contract and the closing of the deal. Sales completed last month and into this month should be reflected in the December reading.

An index reading of 100 is equal to the average level of sales activity in 2001, when the index started.

The Realtors group also lowered its forecast for U.S. existing home sales this year. It now projects sales will fall to 5.4 million, down from 5.7 million in 2007.

Posted in these Groups:
Topics: Housing market, economy, realtors
posted by MoneyTalks on Thursday, February 7, 2008 at 11:15 AM
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Time is money and who has enough time at work?

Today Google launched some new busines software that, according to an Associated Press report, is "designed to make it easier for people in the same organization to share documents and information."

The AP goes on to say, "The free “Team Edition” software, scheduled to debut Thursday, represents the Internet search leader’s latest attempt to attract more users to free applications, which poses a potential threat to rival Microsoft Corp.’s highly profitable word processing, spreadsheet, presentation and calendar programs."

 — Christine Peterson

Posted in these Groups:
Topics: google, Microsoft, software, computers
posted by MoneyTalks on Thursday, February 7, 2008 at 10:23 AM
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It's that time of year when Realtors are deciding whether to join their associations again.

Some are leaving the profession amid faltering home prices and tough competition.

Staff writer Vanessa Gregory found the latest numbers and more about what's happening.

Read her full report.

 

Posted in these Groups:
Topics: bakersfield, realtors, Real Estate, home prices
posted by MoneyTalks on Wednesday, February 6, 2008 at 06:43 PM
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Well, maybe not so much.

I dug up some stats today on Realtor salaries. In the end, I left them out of my story because they're not local, but they're interesting nonetheless.

In 2006, the median salary of a National Association of Realtors member was $47,700.

Not bad, but a shade under the national median family income of $48,451, according to the U.S. Census Bureau.

The broker median salary was $73,700; the sales agent median was $34,600, according to NAR.

Now, I suppose these numbers could be artificially low because some Realtors sell homes part-time. But I was a little surprised considering how much hustle the job seems to require, and how many people jumped into the industry in recent years.

So what is it about real estate that seems to attract so many people? Is it the allure of working for yourself? Or the dream of being one of those who beats the median and rakes it in?

--Vanessa Gregory, staff writer

 

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posted by MoneyTalks on Wednesday, February 6, 2008 at 05:27 PM
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The eighth annual Kern County Economic Summit is coming up. It's from 7 a.m. to noon March 26 at the Doubletree Hotel.

Locals will talk about the economy.

It's put on by the Greater Bakersfield Chamber of Commerce, Kern Economic Development Corp. and CSUB.

Posted in these Groups:
Topics: bakersfield, economy
posted by MoneyTalks on Wednesday, February 6, 2008 at 11:48 AM
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Location: 2120 Kern St., Fresno, CA

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Problems? We have problems?

A group meant to address those problems — housing, air quality, water supply and reliability, transportation and education — meets from 10 a.m. to 3 p.m. Friday in Fresno.

They're officially called the California Partnership for the San Joaquin Valley. It will be at The Downtown Club, 2120 Kern St. in Fresno.

In the morning the board will consider giving the OK to the San Joaquin Valley Housing Trust, an organization designed to help Valley jurisdictions achieve their housing goals. 

 

The state's finance director, Mike Genest, will talk about Gov. Schwarzenegger’s proposed budget and its impact on the San Joaquin Valley at 12:15 p.m.

Learn more at the Partnership's Web site.

— Christine Peterson

Posted in these Groups:
Topics: business, economy, housing, Air quality, water, transportation, Education
posted by MoneyTalks on Wednesday, February 6, 2008 at 10:35 AM
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Ah, junk e-mail.

This showed up in the inbox of a colleague this morning. Maybe you have to be a reporter to find this amusing, but I thought I'd share with the world.

--Vanessa Gregory, staff writer


------ Forwarded Message
From: Mortgage Market Guide <Mortgage_Market_Guide@ixs1.net>
Reply-To: Mortgage Market Guide <Mortgage_Market_Guide.ue.r174707.2185032875@i xs1.net>
Date: Wed, 6 Feb 2008 12:10:48 -0500
To: "gwenner@bakersfield.com" <gwenner@bakersfield.com>
Subject: Feeling beat up by the media?

 
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 © Copyright 2008 The Mortgage Market Guide, LLC. All Rights Reserved.
Mortgage Market Guide, 24 S. Holmdel Road, Suite 1-B, Holmdel, NJ 07733
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------ End of Forwarded Message

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posted by MoneyTalks on Wednesday, February 6, 2008 at 10:08 AM
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Scanning the business wires this morning, I came across this fun little story. Why fun?  I guess because you neve really think about where things like cleaning wipes come from.

This is from Associated Press reporter Jim Fitzgerald:

"Germs are the enemy at Nice-Pak Products Inc., which claims to make 80 percent of the world’s disinfecting wipes and has products designed to clean everything from shopping cart handles to babies’ bottoms.

The privately held company, based 20 miles north of New York City in Orangeburg, N.Y., says its big break came 50 years ago when Kentucky Fried Chicken put in a big order for the original Wet-Nap moist towelette, apparently to wipe away whatever finger-lickin’ didn’t.

Now Nice-Pak makes 50 to 100 billion wipes a year."

— Christine Peterson

Posted in these Groups:
Topics: business, economy
posted by MoneyTalks on Wednesday, February 6, 2008 at 09:16 AM
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Public awareness of the government's FHASecure refinancing program -- designed to help those strapped by adjustable rate mortgages -- is low, said Adam Roberts, a mortgage adviser with Bakersfield's Guild Mortgage Co.

"I don't think the community knows enough about it," Roberts said Tuesday.

Now the government program does have its critics.

But many borrowers with adjustable rate home loans may qualify to refinance through the program, Roberts said.

Those looking for help can find details and search for local U.S. Department of Housing and Urban Development-approved lenders on the agency's website.

--Vanessa Gregory, staff writer

 

Posted in these Groups:
Topics: Real Estate, adjustable rate mortgages, consumer tips, home loans
posted by MoneyTalks on Tuesday, February 5, 2008 at 05:01 PM
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The Franchise Tax Board is sending letters to more than 750,000 Californians telling them to pay up. Basically, these folks are people who earned California income but didn't file a tax return last year.

And 4,100 of those letters went to Kern County residents, according to Holly McDonell, a spokeswoman at the Franchise Tax Board.

They owe an estimated $142 million in taxes, McDonell said.

Of the three quarters of a million letters, about 3,000 of the letters went to Bakersfield residents, and next in line in Kern was about 158 letters to Tehachapi residents.

Why should you care?

"The honest taxpayers pay an estimated 20 percent more because of those who cheat," McDonell said Tuesday. She explained that's a percentage economists have come up with, and it's based on how the system is built to "cover" for those who don't pay.

In a news release, State Controller and FTB Chair John Chiang wrote, "Last year, California taxpayers voluntarily filed more than 15 million tax returns and paid nearly $28 billion in state income taxes. Honest taxpayers do their part to ensure that necessary dollars go towards critical services such as education and public safety. They should not have to foot the bill for those that unfairly avoid filing tax returns."

So if you're one of these people who needs to pay up, go to the FTB Web site and select the Bills and Notices tab, then the Request/Demand for Tax Return, Get more information link.

Or call (866) 204-7902 to get information.

— Christine Peterson

 
 

Posted in these Groups:
Topics: bakersfield, Tehachapi, taxes
posted by MoneyTalks on Tuesday, February 5, 2008 at 02:10 PM
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Location: 3000 Mall View Road, Bakersfield, CA

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Early this morning, it was time to cast my vote for president (and all the state propositions, of course.) This Super Tuesday, my polling place was the east end of East Hills Mall.

Those shop owners and managers are smart. They were open at 8 a.m., I'm sure to catch anyone who might have some time on their hands before or after voting.

And the Bakersfield Art Association Gallery of Art was open, too.

While I needed to zip off to work, seemed there were some sales going on for you shoppers out there.

— Christine Peterson

Posted in these Groups:
Topics: bakersfield, shopping, Voting, Super Tuesday
posted by MoneyTalks on Tuesday, February 5, 2008 at 01:24 PM
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Here's the latest, as reported by the Associated Press:

"Apple Inc. updated its iPhone and iPod Touch lineup Tuesday, doubling the memory and setting a new premium price for its high-end models.

The latest iPhone features 16 gigabytes of memory and retails for $499. The previously released 8 GB version of the hybrid cell phone, multimedia player and wireless Internet device costs $399.

The new iPod Touch comes with 32 GB of memory and retails for $499. The older 16 GB and 8 GB versions of the combination multimedia player wireless Internet gadget cost $399 and $299, respectively."

You can check out the new toys. People are already weighing in.

Who's buying?

Posted in these Groups:
Topics: Apple, iphone, IPod Touch, Technology, phones
posted by MoneyTalks on Tuesday, February 5, 2008 at 11:37 AM
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Location: Mount Vernon Avenue and Columbus Street, Bakersfield, Ca 93306

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During my second trip to the northeast Bakersfield Albertson's in two days, I noticed signs for a new store at the adjacent big-box location.

Apparently a dd's DISCOUNTS is moving in. That's what the signs say, anyway. Right now there's a chain-link fence around the store entrances.

The big-box has been empty — save for some Halloween-time temporary stores — since the computer store moved to its new digs by East Hills Mall.

Not knowing anything about dd's DISCOUNTS, I checked out some Web sites. Some hail the store is a great discounter with lots of wonderful bargains. Others, well, say the stores aren't exactly what you want in your neighborhood.

For the business perspective, check out this site for a Standard and Poor's report. And Ross owns the stores, so there's more there.

 — Christine Peterson

 

Posted in these Groups:
Topics: bakersfield, retail, shopping
posted by MoneyTalks on Tuesday, February 5, 2008 at 11:03 AM
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Eric Schlosser will not be pleased.

Bakersfield will likely get five new Checkers fast food restaurants in coming years, with the first set to open in March on Calloway Drive, between Rosedale Highway and Hageman Road.

From what I understand, Checkers, which focus on burgers and boasts two drive-thrus for fast service, are pretty much the same thing as Rally's. And Bakersfield had three Rally's until they were shut down in 2000. (Thanks to a helpful reader, who turned me on to the chain's local history after reading an early,  web version of the Checkers story.)

So, I've never eaten at Rally's or Checkers. What's the verdict? Tasty or no? And do you think Checkers will survive where Rally's failed?

--Vanessa Gregory, staff writer

Posted in these Groups:
Topics:
posted by MoneyTalks on Monday, February 4, 2008 at 04:22 PM
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More and more people are without jobs. That's the latest from the Labor Department, which is saying the cuts haven't been so bad since the summer of 2003.

The Associated Press is reporting: "Nervous employers cut 17,000 jobs in January — the first such reduction in more than four years and a fresh sign that the economy is in danger of stalling.

The Labor Department’s report, released Friday, also showed that the unemployment rate dipped slightly to 4.9 percent, from 5 percent, as the civilian labor force shrank slightly.

Job losses were widespread. Manufacturers, construction firms and a variety of professional and business services eliminated jobs in January — reflecting the toll of the housing and credit debacles. The government cut jobs, too. All those cuts swamped job gains in education, health care, retailing and elsewhere.

Wage growth also slowed, another indication that employers are tightening their belts amid the economic slowdown.

Pointing to the drop in jobs, President Bush prodded Congress to quickly pass an economic rescue package. The president said there are “serious signs that the economy is weakening, and we’ve got to do something about it.”

 

Posted in these Groups:
Topics: economy, jobs, unemployment
posted by MoneyTalks on Friday, February 1, 2008 at 11:20 AM
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