Much of this piece, which was intended to be about journalism, is instead about money. Perhaps that’s the ultimate message, as journalists everywhere are discovering. As journalists, we’re nothing if we don’t tell the truth, backed up by solid reporting. But unless someone, somewhere, is bringing money to the table, our political insights or critical acumen or familiarity with the machinations of city hall are mere dinner party—or Facebook—fodder. Without the money, we don’t have jobs. And “citizen journalism” notwithstanding, without journalism jobs, we don’t have journalism.
Skilled Healthcare Group Inc. asked a California judge to declare a mistrial or order a new trial over a jury’s $677 million damages award for claims the company improperly staffed its nursing homes.
Moody’s Investors Service Inc., Standard & Poor’s and Fitch Ratings asked a judge today to dismiss a lawsuit filed by two California investors who claim the companies gave inflated ratings to inferior bonds. The companies named the bonds “investment grade” to achieve more sales of their rating services and didn’t downgrade the bonds until Lehman filed for bankruptcy in 2008, plaintiff Ronald Grassi said.
Standard & Poor’s, Moody’s Investors Service and Fitch Ratings sought dismissal of a lawsuit by two
California investors, claiming they weren’t responsible for the plaintiffs’ investment decisions.
Christopher Warren, a Californian who fled to Ireland and Lebanon, was arrested in connection with a $100 million Ponzi scheme involving mortgage fraud, U.S. prosecutors said.
Backers of California’s gay marriage ban lost a bid to keep some of their donors’ names secret after a judge said campaign-finance disclosure laws outweigh concerns that supporters may be harassed.
A New Jersey broker of processed tomato products agreed to plead guilty to price-fixing and racketeering charges and pay $600,000 for making kickbacks to customers and inflating prices, prosecutors said.
The realization that Tower, which was born in Sacramento and grew to include stores all over the world, is not indestructible has prompted many to reflect on the pivotal role Tower Records has played in area culture – and in pop culture in general. In the ’60s, ’70s and ’80s in particular, Tower defined cool in Sacramento – though some may have seen it as arrogance – and it provided a unique common ground for people of varied tastes and interests. No one is more surprised at Tower’s impact than the man who founded it – Russ Solomon.