This summer, the Milken Institute released its second report on manufacturing in California. Seven years the institute sounded the alarm that California was losing its manufacturing edge, the driving force for postwar prosperity from the aerospace industry through high technology. The institute said policy makers should pay attention to the state’s manufacturing decline.
Most recognized California as “the Golden State” long before lawmakers adopted the official nickname in 1968. But while California’s standing as the land of big ideas and golden opportunities is well-earned, so too is its recent reputation as a state in perpetual crisis. In few places is this more evident than the state’s ongoing debate over its aging and unsustainable water management system.
The new-home market in Solano County soared even higher than that of California as a whole, and it fell harder too.
Many things can claim victim status in the wake of the current economy, but local MBA programs aren’t one of them.
Despite significant tuition costs, ranging from $12,000 to $40,000, MBA programs are at worst holding steady in enrollments, and many are actually enjoying surges — not just in applications but in qualified applications.
The smart landlords are doing whatever it takes to keep old tenants and lure new ones. That includes free rent, bigger allowances for tenant improvements, free signs and plain old cash. “If there is less than two years remaining on the lease, a savvy landlord really should be talking to them about extending,” Frisch says. “Oftentimes landlords and property managers don’t start that conversation until it is much later in the lease term.” But if a tenant is in good enough financial shape to keep paying the rent, very few landlords will renegotiate a deal with more than two years left, Frisch says.
With the national economy stumbling along like a wounded animal, the only steady growth these days is in the number of workers being shown the door. But while layoffs can be demoralizing, those workers who remain on the job may find “the Great Recession” to be a huge career booster.
California is running out of money, pure and simple. As we go to press, the state is finalizing the budget and lurching from one financial crisis to the next thanks to elected leaders who put politics above fiscal responsibility.
Mary Nichols is no stranger to innovation. As one of the nation’s first environmental attorneys, Nichols has spent her career protecting natural resources at the state and federal level. She also served as the California Air Resources Board Chairwoman from 1978 to 1983, and now she’s at it again.
It may seem odd that local colleges, universities and vocational schools are putting energy into building a large base of qualified workers in an economy that is already showing double-digit unemployment and forcing many to leave retirement.
The cost of lumber, steel, asphalt and other construction materials has been on a wild ride since the early part of this decade, but don’t be fooled by the relatively placid prices in 2009. Industry players say it’s likely just a brief respite before the roller coaster starts climbing again.