Money Talks - MoneyTalks's Blog - Bakersfield.com

Kern unemployment at 13.9 percent in September

Fri, 16 Oct 2009 09:15:15 PDT

From the Employment Development Department this morning:

The unemployment rate in Kern County was 13.9 percent in September 2009, down from a revised 14.4 percent in August 2009, and above the year-ago estimate of 9.1 percent.

This compares with an unadjusted unemployment rate of 12.0 percent for California and 9.5 percent for the nation during the same period.

Pre-Halloween Christmas displays

Mon, 12 Oct 2009 12:00:44 PDT

Weekend of Oct. 11-12, there are Christmas trees and garland for sale at Costco.

Anyone else see any premature Christmas elation?

Read Florez's letter to the PUC

Wed, 07 Oct 2009 19:42:16 PDT

State Sen. Dean Florez called upon the California Public Utilities Commission to stop Pacific Gas and Electric Co. from installing more SmartMeters and implementing any rate increases until meters can be thoroughly tested by independent technology experts.

Read the story here.

Click on the blue box above to read the full text of the senator's letter.

Know Your Farmer, Know Your Food

Thu, 01 Oct 2009 09:37:11 PDT

Agriculture Deputy Secretary Kathleen Merrigan on Oct. 1 will host a Facebook chat about the 'Know Your Farmer, Know Your Food' initiative to discuss the importance of better connecting producers with consumers to create economic opportunities throughout the country.

Merrigan will highlight how rural communities will benefit by rebuilding local and regional food systems. To join the 'Know Your Farmer, Know Your Food" chat, log-on Thursday, Oct. 1 from 3:45 to 4:15 p.m. EDT. (12:45 pm to 1:15 pm Pacific). Details are available at www.usda.gov/live and people can submit a question in advance of the chat or watch the conversation on the USDA website.

Just last week, USDA launched a new website, at www.usda.gov/knowyourfarmer, which features social media tools to help focus the public conversation about farming and food, while engaging American agriculture and linking producers to customers. The 'Know Your Farmer, Know Your Food' website directs consumers and producers to new media resources, such as information on the USDA blog, Facebook discussions, Twitter and YouTube videos. The public will be able to send their stories, ideas or videos to the 'Know Your Farmer, Know Your Food' team at knowyourfarmer@usda.gov. The public can become a fan of USDA on Facebook at www.facebook.com/USDA.

Text of Jerald Teixeira plea agreement

Tue, 29 Sep 2009 12:07:52 PDT

Click on the blue box to read the full text of the plea agreement in the case of Jerald Teixeira.

This is the first criminal proceeding in a federal investigation into borrowing and investment activity at the now-defunct Crisp, Cole & Associates.

And if you missed it, read our full coverage here.

What are your kids (or you?) going to be for Halloween?

Thu, 24 Sep 2009 09:11:25 PDT

In business reporter Courtenay Edelhart's Sept. 24 story, retailers that sell costumes are making their predictions about what the big sellers will be this Halloween.

What are you dressing up as?

Update on Forever 21 opening at Valley Plaza

Tue, 22 Sep 2009 13:11:19 PDT

Clothing retailer Forever 21’s new department store format will open in the former Gottschalks at Valley Plaza mall in mid-November, the mall’s general manager said Tuesday.

In June, Los Angeles-based Forever 21 purchased at auction more than a dozen leases held by bankrupt Gottschalks, including the anchor spot at Valley Plaza.

The so-called premier stores will carry Forever 21’s signature trendy clothes for women, as well as the company’s other lines — Heritage 1981, a men’s and women’s casual brand; Twelve by Twelve, an affordable couture brand; Faith 21, a plus-size brand; and Love 21, a contemporary brand.

Fresno-based Gottschalks filed for bankruptcy protection in January and is in the process of liquidating its assets.

— Californian staff writer Courtenay Edelhart

First-time homebuyer credit still available

Tue, 22 Sep 2009 12:32:12 PDT

Here's a news release from the IRS about this tax credit:

More than 160,000 California taxpayers so far have taken advantage of the first-time homebuyer federal tax credit that provides up to $8,000 to those purchasing a home.
But time is running out to qualify. Here are 10 things the IRS wants you to know about this valuable credit:

1. To be considered a first-time homebuyer, you — and your spouse if you are married — must not have jointly or separately owned another principal residence during the three years prior to the date of purchase.

2. You cannot claim the credit before there is a completed sale and purchase of the residence. The sale and purchase are generally completed at the time of closing on the purchase.

3. To qualify for the credit, the completed purchase must occur before Dec. 1, 2009.

4. The home must be located in the United States.

5. The credit is either 10 percent of the purchase price of the home or $8,000, whichever is less.

6. The amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000 or $150,000 for joint filers.

7. The credit is fully refundable. A homebuyer with no taxable income, who qualifies for the credit, may file for the sole purpose of claiming the credit and receive a refund. The credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

8. The credit is claimed on IRS Form 5405, First-Time Homebuyers Credit.

9. Taxpayers can claim the credit for a qualified 2009 purchase on either their 2008 or 2009 tax return. For those who have filed a 2008 return, a Form 1040X, Amended U.S. Individual Income Tax Return can be filed in order to get a refund in 2009.

10. The credit for qualified 2009 purchases does not have to be repaid, as long as the home remains your main home for 36 months after the purchase date.

Qualified taxpayers who have been considering a main home purchase may find extra incentive from this tax credit to buy now so they can complete the purchase before the Dec. 1 deadline.

For more information on this and other key tax provisions of the American Recovery and Reinvestment Act of 2009, visit the official IRS Web site at www.irs.gov.

Facts on Kern come out in American Community Survey

Tue, 22 Sep 2009 11:32:17 PDT

Total population: 800,458;
51.8 percent male and 48.2 percent female.

Population age 18 and older: 561,613

Households: 244,186, including 101,793 with children under age 18 still at home.

Average household size: 3.1

Marital status of those age 15 and up: 119,943 men were never married, vs. 84,736 women.

(updated info on education to clarify)
People age 25+ with just a high school diploma or equivalent: 115,320

Those 25+ with some college, no degree: 112,891

Those 25+ with an associate degree: 34,825

Those 25+ with a bachelor's degree: 48,854

Those 25+ with a graduate or professional degree: 20,651

People enrolled in college, undergraduate and graduate: 49,497.

Languages spoken at home: 292,131 people ages 5 and older speak a language other than English.

Occupied housing units: 244,186, including 145,468 owner-occupied (59.6 percent) and 98,718 renter-occupied (40.4 percent).

Median monthly cost of homes with a mortgage: $1,591

Median gross rent: $801

Race or ethnicity: 69.5 percent white;
47.1 percent Hispanic or Latino;
5.5 percent black;
3.7 percent Asian; 17.9 percent
other; and 3.5 percent two or more races.

Place of birth: 155,938, or 19.5 percent, were foreign born.

Source: 2008 American Community Survey

What can you get for your money? See our home sales map

Mon, 21 Sep 2009 12:35:53 PDT

Get a snapshot of the local residential real estate market by taking a look at what’s sold recently in Bakersfield.

See the current update to our home sales map, plus a year’s worth of data on the sale of Bakersfield homes.

We publish single-family home sale transactions, as well as foreclosures. The homes are color-coded by price, with information from First American Real Estate Solutions.

This week’s data covers July 27 to 31. Highlights include:

90 homes are newly plotted on the map.

Priciest? One sold for $1,077,590 in the 93308 ZIP code. It was 2,464 square feet.

Cheapest? One sold for $28,500 in the 93307 ZIP code. It was 986 square feet.

Bakersfield Business Conference back in 2010 — Who should speak? Where?

Mon, 14 Sep 2009 19:53:11 PDT

Haven't heard?

The Bakersfield Business Conference will be back in 2010, organizer George Martin confirmed Monday. He plans to ask folks where they'd like the conference to be held later.

Over the years, the event that draws internationally known leaders, politicans, newsmakers and entertainers has been held at Stockdale Country Club, Cal State Bakersfield and what's now Rabobank Arena downtown.

But being impatient news types, we're curious (now) where you'd like to see the conference held in 2010.

What's a good venue?

And who would you like to hear speak?

What are homes selling for? Find out on our maps

Mon, 14 Sep 2009 14:28:33 PDT

Get a snapshot of Bakersfield's residential real estate market by taking a look at what’s sold recently.

See the current update to our home sales map, plus a year’s worth of data on the sale of Bakersfield homes.

We publish single-family home sale transactions, as well as foreclosures. The homes are color-coded by price, with information from First American Real Estate Solutions.

This week’s data covers July 20 to 26. Highlights include:

99 homes are newly plotted on the maps.

Priciest? One sold for $829,000 in the 93314 ZIP code. It was 3,672 square feet.

Cheapest? One sold for $18,000 in the 93307 ZIP code. It was 1,010 square feet.

Is the recession over? What do you think?

Thu, 10 Sep 2009 18:26:30 PDT

We asked local people in business if they thought there were signs the recession is ending. We turned up five responses by deadline today.

A Federal Reserve report out Wednesday said, "Economic activity in the Twelfth District (a large region that includes California) showed continued scattered signs of firming but appeared to be little changed on net during the reporting period of late July through the end of August."

Now we're asking you. What do you think?

Free workplace hazard seminar

Tue, 08 Sep 2009 17:29:11 PDT

The State Compensation Insurance Fund is holding a free seminar to help people learn how to protect themselves from chemical hazards at work.

The seminar is 7:30 a.m. Sept. 16 at the State Fund Bakersfield Regional Office, 9801 Camino Media.

It will cover reading material hazard data sheets, writing a Cal/OSHA hazard communication program and proper labeling of chemical containers.

To register, call 664-4021 or log onto www.scif.com.

New comic book, collectibles store opens

Tue, 08 Sep 2009 17:27:30 PDT

A new comic book and collectibles store has opened in East Hills Mall.

Tommy T's Toys and Treasures opened Saturday, offering new and vintage comic books, action figures, CDs, DVDs, T-shirts and record albums.

The 1,100-square-foot store's sole employees are the five collectors who jointly own Tommy T's.

Co-owner Dennis Yabiku said the mall's high vacancy rate doesn't bother him because Tommy T's was able to negotiate low rent that will enable keeping prices low.

— Californian staff writer Courtenay Edelhart

Save money this year at the Kern County Fair

Tue, 08 Sep 2009 12:31:58 PDT

Here's a press release from the folks at the Kern County Fair, in their words:

If funds are tight this year, you might want to know about these special deals for no- and low-cost admission to the Kern County Fair, plus tons of fun for free once you’re through the gates.

Free admission 3-5 on Opening Day, Sept. 23

The Kern County Fair will open with a flourish on Wednesday, Sept. 23, starting a 12-day run of free shows, concerts and special attractions.

Opening day will feature the annual kick-off parade and ceremonies, a free concert by country star Phil Vassar and two free shows by hypnotist Tina Marie, who will be making her Kern County debut at this year’s event.

Early birds arriving between 3-5 on opening day will be rewarded with free admission to the Fair.

Free admission for seniors 55+ on Friday, Sept. 25

People age 55 or older will be nonpaying guests of the Kern County Fair on Friday, Sept. 25. The day, sponsored by GEMCare, has become an annual tradition at the Kern County Fair.

The event begins at 9 a.m., and continues with free activities and entertainment all day. Parking also is free to seniors until 4 p.m. Tram service from the parking lot to the fair entrance will be available at the parking lot on South P Street.

An added bonus for frugal seniors, blood pressure and other health checks are provided at no charge at the GEMCare booth in the Main Plaza.

There also will be informational tables during the morning program on free services for seniors in Kern County.

Free admission for active military

In a new program for 2009, visitors with active military IDs will receive free admittance to the Fair throughout the 12-day run.

Free admission for young readers

Some 30,000 school children from throughout Kern County are participating in a special reading program to earn free tickets to the upcoming Kern County Fair.

Through KC’s Reading Round-Up, sponsored by Bright House, students will receive a free ticket to the Kern County Fair upon completion of 300 minutes of reading for pleasure. To qualify, students must participate through their classrooms. It is not available to individuals.

Purchase tickets in advance and save

Planning ahead will save families on admission. Tickets purchased in advance of the Fair are offered at a great discount: Only $6 for adults and $3 for children 6-12.

Advance tickets are offered online at kerncountyfair.com or at Albertson’s stores.
Once the Kern County Fair is underway Sept. 23, advance tickets will no longer be available.

Discount carnival wristbands also are available online and at Albertson’s until Sept. 22. The wristbands let fairgoers ride all day. Regularly priced at $30, the discount wristbands offer a big savings at $23.

Save on a return ticket

When you come to the Fair this year, make your first stop at one of the interactive kiosks at each entrance. There, you can answer a few questions and win a $1 ticket for a return visit to the Fair later in the week.

Still the best value in town

Even with the full price of admission, frugal fairgoers are still getting the best entertainment value in town.

Admission is $8 for adults and $3 for kids 6-12 years of age. Children 5 and under get in free. Parking is $5.

“We haven’t raised our admission prices for several years,” said Bill Blair, chief executive officer of the Kern County Fair. “We want the Fair to be affordable and we think it’s the best entertainment value of the year.”

Free at this year’s Kern County Fair

Just a sampling of what’s free at this year’s event:
-    Twelve nights of free concerts at the Budweiser Pavilion
-    Community entertainment on Frontier Stage, Kern Family Health Care Stage, KC Lane Stage, Goode Time Stage, Garage Stage, La Villa Festiva
-    Free fun for kids all day at Calico Corner (Plan ahead and take advantage of free immunizations offered by San Joaquin Community Hospital here every day. Just bring your kids’ immunization records.)
-    “Ag-Adventure” learning and GASCAR animal races at KC’s Farm
-    Free shows twice each evening with our new hypnotist, Tina Marie
-    New this year: Nerveless Nocks aerial thrill show
-    New this year: Dr. Solar’s old-time entertainment with a contemporary ecological message
-    New this year: Mini-Tractor Races call for young tractor drivers from the audience to pedal their way to victory
-    BMX Pro Stunt Team
-    All-Alaskan Pig Races
-    Russell Brothers Circus
-    Turkey Stampede (where visitors can win free coupons for Subway sandwiches)
-    Hobby Pavilion
-    Exhibit Buildings and Community Exhibits
-    Livestock Barns and Pavilions

Free shows in the Grandstand

With an emphasis on value and entertainment, planners of this year’s Kern County Fair are bringing free shows to the grandstand on both weekends.

The Digger Helm Short Track National will begin at 6 p.m. Saturday, Sept. 26. This is the fifth annual year for this competition, part of the West Coast Vintage Dirt Track Series.

On Sunday, Sept. 27, at 7 p.m. Lucha Libre, World Power Wrestling, will take over thearena. A combination of drama and sport, Lucha Libre is returning to the fair after last year’s popular event. The show is presented by Azteca 42 Bakersfield and KERO ABC-23.

Corona will present the annual Fiesta Rodeo on Sunday, Oct. 4. The event will begin at 6 p.m. in the grandstand. Now a Kern County Fair tradition, the Fiesta Rodeo features roping, bull riding and other events of a traditional Mexican rodeo.

For all three events, grandstand seating is free with paid fair admission. No ticket is required.

For more information about the Kern County Fair, visit kerncountyfair.com.

Looking for a deal? See what homes are selling for

Tue, 08 Sep 2009 12:16:41 PDT

Get a glimpse of the local home market on our maps.

See the current update to our home sales maps, plus a year’s worth of data on the sale of Bakersfield homes.

We publish single-family home sale transactions, as well as foreclosures. The homes are color-coded by price, with information from First American Real Estate Solutions.

This week’s data covers July 13 to 19. Highlights include:

113 homes are newly plotted on the maps.

Priciest? One sold for $530,000 in the 93311 ZIP code. It was 3,162 square feet.

Cheapest? Two sold for $28,000 each in the 93304 ZIP code. One was 955 square feet, the other 1,133.

What’s selling? View our latest home sales map

Mon, 31 Aug 2009 14:51:41 PDT

What deals are out there?

See the current update to our home sales maps, plus a year’s worth of data on the sale of Bakersfield homes.

We publish single-family home sale transactions, as well as foreclosures. The homes are color-coded by price, with information from First American Real Estate Solutions.

This week’s data covers July 6 to 12. Highlights include:

96 homes are newly plotted on the maps.

Priciest? One sold for $495,000 in the 93312 ZIP code. It was 4,046 square feet.

Cheapest? Two sold for $40,000 each. One was in the 93304 ZIP code and was 1,209 square feet; the other was in the 93305 ZIP code and was 2,394 square feet.

See what’s selling: Click on our home sales map

Mon, 24 Aug 2009 13:04:32 PDT

Black push pins, blue push pins ... what does it all mean?

See the final set of data added to our June map, and the start of our July map. You can also find a year’s worth of data on the sale of Bakersfield homes.

We publish single-family home sale transactions, as well as foreclosures. The homes are color-coded by price, with information from First American Real Estate Solutions.

This week’s data covers June 29 to July 5, with homes newly plotted on the map for each month.

Highlights between the two maps include:

84 homes are newly plotted on the maps.

Priciest? One sold for $440,000 in the 93314 ZIP code. It was 3,319 square feet.

Cheapest? One sold for $41,500 in the 93305 ZIP code. It was 1,315 square feet.

About those upgraded SmartMeters ...

Fri, 21 Aug 2009 12:21:24 PDT

Reporter John Cox has a story on SmartMeters. Here's the top:

Pacific Gas and Electric Co. has returned to Kern County to upgrade customers' SmartMeters, a move the utility insists will mean better service at a modest price.

As expected, however, the change has stirred skepticism among some customers who say the meters are to blame for higher electric bills.

SmartMeters are designed to give customers more information about how much power they use, and when. The devices also let PG&E charge some customers according to their electricity consumption during times of peak use.

Tell us what you think ...