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The article discusses a study conducted by the California Debt and Investment Advisory Commission to assess the extent to which local public agencies in California have adopted the debt management guidelines issued by the Government Finance Officers Association (GFOA) which reveals low adoption of policies. Topics discussed include benefits of a debt management policy, categories of information in a policy such as debt limits; and methods used to conduct the study such as sampling.

The article reports on the plan of Robert J. McLaughlin, president of San Francisco, California-based Fibreboard Corp., to sell the company's folding-carton business. It states that this move will impose an after-tax loss of around 26 million dollars, but should provide the company some funds to invest in other business and to lessen its debt load. Moreover, McLaughlin points out that when his plan would be realized, he hopes to focus on corrugated shipping containers.

The broker announced it is increasing its senior secured term loan by $500mn and is planning to issue $890 million of other unsecured debt. [ABSTRACT FROM AUTHOR]

The article reports on the issue that the 26 forward-delivery advance refundings done by small California school districts has grown out of a lack of understanding of the transactions on debt, as contended by the lead banker on the deals. J. Jeffrey Kinsell, executive vice president of Kinsell, Newcomb & De Dios Inc. has wanted to protect the school districts, at least nine of which have received preliminary adverse determinations from the Internal Revenue Service warning.

The article reports on the announcement from the brand management firm FITT Highway Products Inc. that it had mitigated nearly 1.9 million dollars in debt during 2010 in Mission Viejo, California. It mentions that potential investors have urged the company to compromise its debt before entering in any negotiations for its operations. It states that the firm's non-affiliated operating partner, F.I.T.T Energy Products Inc., has discussed with several parties to promote its energy shot product.

In this article, the author discusses the changing performance of real estate transactions in San Diego, California. He notes that most statistical indicators show decrease in the value decline rate for real estate, modest increases, or stabilization of values. He points out that large debt providers unload portfolios and assets. He contends that economic growth will not automatically erase deficits in value.

The article focuses on financial advice and lines of credit being offered by grant makers, including the California Community Foundation, to charities facing revenue declines in Los Angeles in 2009. Capital loans will be given to charities through the 6 million U.S. dollar-initiative. It is noted that many museums, universities and other nonprofit institutions made use of tax-exempt bonds to purchase real estate or construct new facilities. Nonprofit Finance Fund chief Clara Miller stresses the need to be careful about who can and who cannot manage debt.

The article reports on the plan of Language Line Holdings to secure a 575 million U.S. dollar credit facility to refinance its debt. A credit facility is being called by the proposal that would consist of a 525 million U.S. dollar term loan and a 50 million U.S. dollar revolver. It is noted that the Monterey, California-based company has approximately 463 million U.S. dollars in outstanding debt.

The article reports on the search of San Bernardino County Employees' Retirement Association (SBCERA) for credit/debt managers to oversee a $200 million portfolio at he $6.4 billion plan. The California investment plant will likely hire several managers with a focus on absolute return or relative value.

The article reports that the San Marcos, California-based My Credit Group Inc. has been retained by the United States Department of Defense to assist Marines at Camp Pendleton facing overwhelming debt issues. The company will repair its clients' credit reports, help with debt consolidation and refinancing. It is important to get credit issues ironed out before Marines get deployed.

This article reports on California governor Arnold Schwarzenegger's appeal to the voters in fighting the state's financial crisis. If California's voters, trooping to the ballot on March 2nd to choose everyone from a presidential candidate to the local school board, reject Propositions 57 and 58, the governor's aura of invincibility will be blown away--and the problems of a state cursed with a huge debt and a gridlocked legislature will look as insoluble as ever. Hence the current barrage of television ads, featuring not just the Republican governor but also the state's Democratic chief financial officer. Mr Schwarzenegger is stretching the truth a bit: the "past deficit borrowing" includes not just the $10.7 billion five-year bond authorised by the legislature last year (and now subject to legal challenge because it was not approved by the voters) but also the $4 billion or so which he decided to forgo when he cancelled an increase in vehicle-licensing fees. In a legislature where redistricting has given almost all lawmakers safe seats, the tax-averse Republican minority would no longer be able to block the Democratic majority. Yet they may protest too much: a California governor has a line-item veto power that can be overridden only by a two-thirds vote.

Reports on the financial aid to a Christian school system for debt refinancing in Stockton, California. Issuance of tax-exempt debt notes on behalf of the United Christian Schools; Public opinion with the city lending help to the religious schools; Protest from local religious and civil liberties groups to the city's action.

Describes how a student found help in managing her debt through the nonprofit Consumer Credit Counseling Service of San Diego and Imperial Counties in California.

The article reports that the Governor of California, Gray Davis signed the 2002-2003 state budget into law on September 5, 2002. The $98.9 billion budget represents a 0.2 percent decrease in General Fund expenditures from 2001, based on a combination of program reductions ($7.5 billion), loans, deferrals, debt restructuring and fund shifts and transfer. To balance the budget and address an estimated $23.6 billion gap, the Legislature is likely to make changes in the form of revenue increases and further cuts.

The article focuses on the plan of the city of Vallejo in California to exit bankruptcy by paying its unsecured creditors 5 to 20 cents on the dollar. It notes the proposal filed to the U.S. Bankruptcy Court for the reorganization of debt the city owes from Union Bank Inc. and National Public Finance Guarantee Corp.

S&P Global Ratings analysts said new California's law emphasis on debt management policies could bode well for issuer's credit quality. [ABSTRACT FROM AUTHOR]

St. Louis and Missouri leaders say they won't waver in paying off Edward Jones Dome bonds, though the stadium's National Football League's tenant has decamped for California and state lawmakers may balk. [ABSTRACT FROM AUTHOR]

The article reports on the increase of delinquency rate in subprime lending industry in Central Valley, California. It states that mortgage lenders were forced to close its businesses due to bankruptcy, increasing foreclosures and lawsuits which resulted to laying off of thousands of employees. Moreover, several lending companies like Network USA and Ameriquest had laid off employees due to the failure of homeowners to settle their payments until interest rates hit the highest level.

The article reports on the difference of opinion between Governor Arnold Schwarzennegger's office and the Legislative Analyst's Office (LAO) on the possible cut to the $1.6 billion of debt service on debt-financing bonds in California in 2007. H. D. Palmer from the governor's office of finance points out that LAO numbers vary from the governor based on tax receipts remittance. Palmer adds that data obtained from the April 15 deadline will be considered as a decisive data for revenue forecasts.

Reports on the plan of the Los Angeles Harbor Department to issue a multi-million in debt to refinance bonds issued in 1996. Details of the amount of money for the complex transaction; Engagement in an open market purchase of outstanding 1996 bonds to support issuance of a series of 2005 bonds; Issuance of 2006 series of bonds for forward delivery when the 1996 bonds are callable.

California's treasurer has launched an open data website that he says will make it easier to analyze $1.5 trillion in debt issued in the state since 1984. [ABSTRACT FROM AUTHOR]

Although oversubscribed, the first €3bn syndication from a public sector borrower since the European Central Bank began buying in the sector -- a 0.2% April 2025 issue for the European Financial Stability Facility -- has left bankers fretting over crowded-out investors deserting SSA debt in the single currency, writes Tessa Wilkie. [ABSTRACT FROM AUTHOR]

In his last debt affordability report before he retires from public office, State Treasurer Bill Lockyer gives an update on California's financial position and debt issuance plans, including plans to issue $3.9 billion in new general fund supported debt in fiscal 2015. [ABSTRACT FROM AUTHOR]

The article reports that California's Governor Jerry Brown has proposed a constitutional amendment to California's Rainy Day Fund, under which the state will be allow paying off debts faster. Topics discussed include commencement of a special legislative session, the replacement of the present Rainy Day Fund measure and the approval of the Assembly Constitutional Amendment 4 in November 2014.Also mentions a plan to the improve the existing fund structure.

The article focuses on a report by California Treasurer Bill Lockyer, which reveals that the state's general fund revenues will account less percentage for debt service payments on October 1, 2013. According to the report, the debt service for the financial year 2013-2014 will account for 7.7 percent of general fund revenues from 9.8 percent as projected in the 2009 debt affordability report. According to Lockyer, general obligation bonds are more competitive than higher-rated bonds.

The article reports that San Bernardino, California officials have presented a budget plan to pay for city services during its Chapter 9 bankruptcy proceedings. It mentions that the proposed plan is a contrast to Stockton's approach to bankruptcy, which relies on cutting bond payments. The state also plans to cut 100 positions to save an estimated 16 million U.S. dollars to help close the 46 million U.S. dollars budget gap.

The article reports on the plan of the San Francisco International Airport to refund its fixed-rate debt worth 215.9 million dollars with variable-rate demand obligations in California.

The article reports that voters has approved the proposal to sell the bankrupt Valley Health System's two hospitals and real estate assets in Riverside County, California. The bankruptcy court already approved the deal and the proceeds which will be used to pay off its 44.7 million dollars worth of outstanding tax-exempt bond debt. Moreover, the trustees of the U.S. Bank NA has filed motions and has questioned how the district did the sale process and its ability to close the proposed deal.

The article reports on the introduction of the Taxpayer Protection Act by Lee Brand, a Fresno City Council member in California. It states that the proposed resolution will formulate policies for the city related to debt management. Further, it will establish sensible conditions for the utilization of debt and the creation of policies that will lessen the debt service and insurance cost of the city.

The article reports that state officials' issuance of $3.2 billion of IOUs in California has triggered questions whether the registered warrants should be considered securities or other type of state obligation. Sales of IOUs and trades by broker-dealers are cited to be subjected to Municipal Securities Rulemaking Board rules if IOUs are issued by the state government. Also discussed is the regulatory jurisdiction of the U.S. Securities and Exchange Commission (SEC) for misleading disclosure.

The article offers information on the launch of personal finance tool called Debt In Focus in El Segundo, California. It states that the tool can help improve credit profiles and can reduce the debts of credit union (CU) members. According to Kathryn Davis, senior vice president (SVP) of marketing and human resources of Xceed Financial Credit Union, the tool can help credit unions to stay in constant contact with their members and can give them meaningful assistance.

The article focuses on the suggestion of Edward J. De La Rosa that issuers should emphasize on simple, fixed-rate deals amd avoid swaps that force local governments to manage basis and counterparty risks that are far from their main missions in California. Many of the less sophisticated counterparts of the state saw their more conservative debt management justified in 2008. They realized that Bureaucrats and officials realize their want to reconsider the use of swaps in market conditions.

The article reports on the plans of Fresno government to sell $161.2 million of sewer revenue bonds to get out of the variable-rate debt out (VRDO) market in California. California is recognized as the sixth-largest city that in need to refund its variable-rate demand obligations from the Financial Guaranty Insurance Co. The city also announces its plan to bring out an issuance of water revenue bonds to the market before the end of the year.

The article reports on the decision of the city of Vallejo, California to renege on promised pay increases for city workers in order to continue making full debt service payments under a fiscal 2008-2009 budget proposed by city manager Joseph Tanner. City officials proposed a $78.7 million general fund budget that cuts spending by 10% and builds a $1 million reserve. Meanwhile, revenue is expected to decline by 7.8% in 2009.

The article reports on the formal debate between California State Treasurer's Officer Paul Rosenstiel and Standard & Poor's Corp.'s Steven Zimmermann regarding municipal credit crunch. Both have laid out their positions on the issue. Moderator David Stephens said the bottom line is that whehter changing the way they rate bonds really change the market. Rosenstiel said they do not promise to do anything other than pay debt service and Standard should not rate them based on anything else.

The article reports on the plan of the San Francisco International Airport (SFO) to issue about $469 million of refunding bonds in two issues. The first issue is a $169 million variable-rate portion and the $300 million fixed-rate piece. SFO took a financial hit from traffic declines after the 2001 terrorist attacks and the SARS epidemic in Asia. As a result, the airport has spent years refunding and restructuring its outstanding debt with a goal to reduce debt service.

The article reports on the suggestion of California treasurer Bill Lockyer that as the state prepares to increase its debt load, it should consider diversifying the types of bonds that it issues. Lockyer stresses that the issued bonds can be diversified by creating new general obligation (GO) bond credits. It should study the use of GO bonds backed with dedicated revenues including a pledge of the personal income tax, and consider backing bonds with a statewide property tax levy.

The article reports on the upgrading of California's Alameda Corridor Transportation Authority to A3 from Baa1 $795.1 million of subordinate-lien bonds by the Moody's Investors Service Inc. on December 14, 2006. The upgrade followed in a ratings update on the transportation corridor and based on its satisfactory debt service coverage in 2006. Moody's revealed that the ratings also reflected the operational track record of the agency and partial debt support by highly rated ports in the state.

The article reports on the overruling on the recommendation of administrative officer William Fujioka for the competitive sale of $500 million transaction in Los Angeles, California. The recommendation, initiated to enhance the city's debt management division, is overthrown by the city council with a vote of 6 against 8. Instead, it initiates to sell the deal on negotiated basis and structured requirements with De La Rosa & Co. and Siebert Brandford Shank LLC as undewriters.

The article provides updates on the Arco Arena replacement project in California. According to report, only 26% of Sacramento County voters approved the quarter-cent tax to finance the project. The tax proceeds related to the arena, currently home to the National Basketball Associations' Sacramento Kings, would secure up to $500 million of bonds. It was believed that if voters will reject the measures, other sources of revenue would not meet debt service needs.

The article reports on the request for permission of Mendocino-Lake Community College District for its first bond sales in California. The college is asking voters' approval for its $67 million of general obligation debt. The approval would speed up the district's ability to obtain cash appropriations from the state through matching funds. It has been said that the school is taking advantage of the state's Proposition 39, which allows school district bond authorizations to pass with 55% of the vote.

The article reports on the postponement of Tulare Local Health Care District of its plans to issue $20 million in general obligation debts, a deal originally scheduled for late August 2006. In September 2005, voters authorized $85 million in bonds to finance a 100,000-square-foot-expansion and seismic upgrades for the Central Valley district's hospital. The construction will break ground in the middle of 2009.

The article focuses on Orange County, California, which plans to refinance the debt it issued to emerge from bankruptcy. The county issued $279 million of recovery bonds in June 1995 and $761 million of recovery certificates of participation in June 1996. The county plans to issue about $125 million to refund recovery bonds and about $480 million to refund the recovery Certificates of Participation. The county's primary goal in the refunding is to pay off the bankruptcy debt as soon as possible. Currently they are repaid with dedicated revenue transfers from a variety of sources, including redevelopment and park funds, that will expire in fiscal 2016, placing the full debt service burden on the general fund at that point.

Reports that the U.S. Federal Trade Commission has settled with three credit counseling firms that were accused of misleading consumers. Millions of dollars of consumer redress settled upon, and amount that was held in trust accounts and must be repaid; Amounts to be paid from the National Consumer Council in Santa Ana, CA, Debt Management Foundation Services in Tampa, FL and Better Budget Financial Services in Beverly, MA; Deceptive practices the institutions were charged with, including failure to inform consumers that debt management programs rarely work and what the consequences can be.