Economic Edge

By Kristi Coale on Mar 3 2010 - 5:22pm
Last year, when people were losing their homes, jobs, or both, and needed to find help, many of them called 2-1-1.  It’s a free 24-hour hotline, where operators refer callers to social service agencies in their region.  The hotline saw a 39 percent increase in call volume last year in the...
By Rina Palta on Feb 26 2010 - 2:37pm
Job talk ruled the week, as the number of people seeking unemployment assistance nationwide went up 22,000--in the midst of an east coast snowpocalypse that some say is keeping higher numbers from wading out to file claims. No snow in the Bay Area, but we certainly have unemployment, which has been...
By Rina Palta on Feb 25 2010 - 3:05pm
Last year, San Francisco Mayor Gavin Newsom launched a job-creation program using $32 million from the American Recovery and Reinvestment Act. “Jobs Now” offers private companies, non-profits, and city agencies a unique opportunity: hire a new employee, and the city will reimburse you for their...
By Zoe Corneli on Feb 22 2010 - 5:08pm
Last week on Crosscurrents, I reported about a homeowner who had been waiting for about 9 months to get a loan modification from Chase. When I met him, about a week before the story aired, it seemed his modification was on the verge of being approved. A representative of Chase assured him, "Right...
By Nancy Mullane on Feb 22 2010 - 12:11pm
Appearing before a meeting of the nation's governors, President Barack Obama called for a reauthorization and redesign of the federal governments, Elementary and Secondary Education Act, commonly known as the No Child Left Behind Act, enacted during the presidency of George Bush.  In an effort...
By Rina Palta on Feb 18 2010 - 2:26pm
Another work week in our rollercoaster of an American economy is coming to a close, and it's been a stimulating one! (Yuk, yuk.) The American Recovery and Reinvestment Act of 2009  (a.k.a. "The Stimulus") turned one year old yesterday, and House Speaker Nancy Pelosi dropped into town to laud...
By Holly Kernan on Feb 17 2010 - 5:53pm
Yesterday, Bank of America announced it made 12,700 permanent loan modifications in January, nearly quadruple the figure for the month before. But that bank still has about a million mortgages that are at least 60 days delinquent. And it turns out that when it comes to loan modifications, borrowers...
By Zoe Corneli on Feb 17 2010 - 5:14pm
Last year, President Obama announced HAMP, the Home Affordable Modification Program. Its goal: to help 3 to 4 million homeowners avoid foreclosure. BARACK OBAMA: In some cases, people may have had difficulties because they lost a job, somebody in their family got sick, they may have missed some...
By Shaleece Haas on Feb 11 2010 - 4:55pm
While TV pundits have declared the recession technically over, city coffers across California continue to shrink. In the city of Newark in southern Alameda County, things have recently gone from bad to worse. City manager John Becker says that 18 months ago, his small suburban city cut dozens of...
By Hana Baba on Feb 11 2010 - 3:20pm
While budget cuts continue in California and the Bay Area, there is some good news out of Sacramento. Yesterday, State Controller John Chiang announced that California collected $1.28 billion more in January than expected. Still, the state has a projected deficit of nearly $20 billion to...
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