Explaining Southern California's economy

Reportings: Grocery strike; Netflix screw-up; Jerry's veto

Still no grocery strike in Southern California. But you have to wonder why the union and the big chain stores — Albertsons, Ralphs, and Vons — couldn't figure out how to resolve the problems with a jointly administered health care fund before now. VoiceofOC.org provided a blow-by-blow back in June, explaining how the fund was allowed to rapidly move from surplus to looming deficit. (VoiceofOC.org)

 

Speaking of which, the LA Times thinks a strike now would be a very bad move for the chains: "Today, Ralphs, Vons and Albertsons have fewer stores in Southern California, and fewer employees. Albertsons has closed 67 locations since the 2003-04 strike and worker lockout. Ralphs has closed 48 stores, and Vons and Pavilions are down 47." (LAT)

 

Netflix CEO Reed Hastings' solution to the epic screw-up of raising prices on subscriptions: The smaller DVD-by-mail business will now be spun off into a new company, Qwikster, presumably allowing Netflix to restore its brand. How long did it take to think up that new name? (NYT)

 

Gov. Jerry Brown gets tough on "trigger cuts" — automatic cuts that will kick in if the state can't bring in enough tax revenues. His veto will cause pain, but also enable California to keep borrowing at good interest rates. "The trigger mechanisms were adopted when I signed the budget and were essential to improving our credit standing." (gov.ca.gov)

Follow Matthew DeBord and the DeBord Report on Twitter.

Photo: Ethan Miller/Getty Images

 

 

blog comments powered by Disqus