11/23/2024

News

L.A.’s dwindling transit ridership isn’t hard to fix. Make riding the bus cheaper and more convenient

The Los Angeles County Metropolitan Transportation Authority’s ridership has been falling steadily since 2014, losing on average 69,000 daily riders each month. The most recent 12 months of data show a decrease of more than 10% compared with the same period three years ago, and Metro’s current “annual boardings” — just under 400 million — represent a drop of almost 20% from the system’s 1985 peak, even though the county’s population has increased by nearly a fifth since then.

It wouldn’t be difficult to turn these figures around, as Metro’s history shows: The transportation authority should stop focusing primarily on building new rail and use a fair share of its voter-supplied wealth to lower fares and improve the bus system.

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Emissions fall under California’s cap-and-trade program

Industries regulated under California’s cap-and-trade program reduced greenhouse gas emissions by nearly 5% in 2016, according to new data released by state officials. Richard Corey, executive director of the California Air Resources Board, said the numbers show the state is on track to meet its emission-reduction targets in 2020 and 2030.

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L.A., Long Beach ports adopt plan to slash air pollution and go zero-emissions

Port officials said the plan seeks to accelerate pollution reductions while remaining sensitive to the economic effects of transforming the complex, which handles about 40% of U.S. imports and support hundreds of thousands of jobs across Southern California. Though the volume of shipments moving through the L.A.-Long Beach ports has tripled since the mid-1990s, they face increasing competition from East and Gulf Coast ports, which have less stringent environmental mandates.

By adopting the plan, the ports are expecting businesses and taxpayers to foot the bill. They are also sending a signal to manufacturers that there will be demand for cleaner trucks and freight-moving equipment, and, eventually, models with no tailpipe emissions.

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California business tax incentive program should end, legislative analyst says

California no longer should give specific tax incentives to businesses and instead should provide broad-based tax relief, the state’s nonpartisan Legislative Analyst’s Office said in a new report.

The analyst’s office examined California Competes, a program that began four years ago to give tax credits to businesses looking to move to the state or remain here, and found it puts existing companies that don’t receive the awards at a disadvantage without clear benefits to the overall economy.

“Picking winners and losers inevitably leads to problems. In the case of California Competes, we are struck by how awarding benefits to a select group of businesses harms their competitors in California,” the report said. “We also think the resources consumed by the program are not as focused as they should be on winning economic development competitions with other states to attract major employers that sell to customers around the country and the world.”

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Surge in energy costs sends U.S. consumer prices up 0.5%

U.S. consumer prices rose 0.5% in September, the largest increase in eight months. The result reflects another big jump in energy prices in the aftermath of Hurricane Harvey, which shut Gulf Coast refineries and caused gasoline prices to jump across the country.

The September increase in the closely watched consumer price index was the biggest one-month gain since a 0.6% rise in January, the Labor Department reported Friday.

Energy prices shot up 6.1%, led by a 13.1% surge in gasoline. Analysts believe that the impact of the hurricane will be temporary.

Core inflation, which excludes volatile food and energy, rose a tiny 0.1% in September.

Over the last year, overall prices are up 2.2%, while core inflation has risen 1.7%.

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Regulators recommend that the state reject a Ventura County natural gas plant

A California Energy Commission committee is urging the state to reject a proposal to build a new natural gas plant in Ventura County.

Called the Puente Energy project, the 262-megawatt power plant would be owned and operated by NRG, a Houston-based electricity company. NRG contracted with Southern California Edison to supply power to the utility.

In what the regulators themselves called an “unusual” statement, the two-member committee said that the proposed plant, set for construction on Mandalay Bay in Oxnard, conflicted with state laws and goals for communities and the environment.

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California’s students stagnate on standardized tests — but the lowest scorers are improving

When California rolled out new standardized tests, experts said scores would improve when students got used to them. But three tests in, rather than showing strides from familiarity, their scores have stagnated in English and math.

About 3.2 million students in third through eighth grade and 11th grade took the California Assessment of Student Performance and Progress in the spring. The tests are aligned to the Common Core standards, and demand mastery — which means they’re harder than California’s old standardized tests.

This year, 49% of students passed the English exam, compared with 48% in 2016. In math, 38% of students met or exceeded the state’s standard, compared with 37% last year. Fifth-graders’ scores dropped slightly in English.

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L.A. pension officials deliver another financial blow to the city budget

The City Employees’ Retirement System board, which oversees pension benefits for thousands of city workers, voted unanimously to cut its assumed rate of return — the yearly earnings expected from the agency’s investment portfolio — to 7.25%, down from 7.5%.

The decision is expected to shift $38 million in retirement costs onto the general fund budget, consuming funds that would otherwise pay for basic services. And it comes at a time of increased concern over the city’s growing pension burden.

Another pension agency, which oversees benefits for thousands of retired firefighters and police officers, recently reduced its own rate of return and recalculated the expected lifespan of its beneficiaries. Meanwhile, growth in the overall city payroll is also expected to push pension payments upward.

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From oil refineries to solar plants, unions bend California climate change policies in their favor

Labor influence over climate policies occasionally made Democrats uncomfortable last week. One late addition to state budget legislation, Assembly Bill 134, directs regulators to develop a process for determining whether automakers are “fair and responsible” in their treatment of workers.

If lawmakers approve the process next year and companies fall short of that standard, their electric cars could become ineligible for California rebates that are crucial to making zero-emission vehicles more cost competitive. Tesla, the state’s only automaker, has resisted efforts to unionize the workforce at its Fremont factory.

The provision was supported by the California Labor Federation, a coalition that includes the United Auto Workers, as a way to ensure public money doesn’t flow to companies that mistreat employees. But these kinds of rules could end up “undermining our own goals” of fighting climate change with more electric cars, said Sen. Scott Wiener (D-San Francisco).

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California’s growth slowdown continues in August as the state loses 8,200 jobs

California’s slowing economic expansion was evident in August as the state lost 8,200 net jobs and the unemployment rate rose to 5.1%, from 4.8% a month earlier, according to data released Friday from the state’s Employment Development Department. The drop in employment follows a robust July in which the Golden State gained the most jobs in more than a year: 84,500, revised up from a previous estimate of 82,600. August’s slide back was in large part driven by employers in the leisure and hospitality sector: They cut 12,400 jobs on a seasonally adjusted basis — the largest decrease by any sector in the state. Professional and business services and the public sector also lost jobs. Manufacturing and the trade, transportation and utilities sector, meanwhile, gained jobs.

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California lawmakers pitch a break from a key environmental law to help L.A. Olympic bid, Clippers arena

California lawmakers introduced legislation Friday to bypass a key state environmental law that would dramatically ease the construction of rail, bus and other transit projects connected to Los Angeles’ bid to host the Olympic Games in 2028. Under the bill, any public transportation effort related to the city’s Olympics bid would be exempt from the California Environmental Quality Act, the state’s primary environmental law governing development. The law, known as CEQA, requires developers to disclose and minimize a project’s impact on the environment, often a time-consuming and costly process that involves litigation. The measure, Senate Bill 789, also provides major CEQA relief to help the construction of an NBA arena for the Los Angeles Clippers in nearby Inglewood.

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California cap-and-trade program gets a shot in the arm with strong permit auction results

During August’s auction, every emission permit offered by the state was sold, and prices reached their highest level since the program launched five years ago. The auction results, announced Tuesday, were the first since Gov. Jerry Brown signed legislation continuing cap and trade until 2030, erasing some of the political and legal uncertainty that had dogged the program.

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Faraday Future plans to refurbish an old tire factory to take on Tesla

Faraday Future is running on fumes. But it’s still running. The Gardena-based luxury electric car start-up raised $14 million in emergency funding and will lease an old factory near Fresno that will enable it to turn out 10,000 cars a year. The company has dramatically lowered its ambitions. Its goal now is to try to remain solvent enough to start manufacturing and selling the FF 91, a powerful, technology-packed luxurious electric sedan with a base price expected to top $100,000. As recently as last year, the company had plans to turn out 150,000 cars a year from a massive new $5-billion assembly plant near Las Vegas.

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A Bay Area developer wants to build 4,400 homes where they may be sorely needed. Here’s why it won’t happen

A developer wants to build 4,400 new homes there — one of the largest projects recently proposed in one of the country’s most unaffordable regions. The development would overlook a railway that drops riders into the heart of San Francisco in 15 minutes, reducing the need for cars and cutting the greenhouse gas emissions that come from them. State and regional leaders have endorsed the project. But its fate rests with Brisbane, a city of 4,700 people that annexed the property 55 years ago. And no one, not even the developer, thinks Brisbane’s residents will approve all 4,400 homes.

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Home prices in parts of Southern California are at record highs — and keep rising

In many corners of Southern California, home prices have hit record highs. And they keep going up. In Los Angeles County, the median price in June jumped 7.4% from a year earlier to $569,000, surpassing the previous record set in May. In Orange County, the median was up 6.1% from 2016 and tied a record reached the previous month at $695,000. Across the six-county region, the median price — the point where half the homes sold for more and half for less — rose 7.5% from a year earlier and is now just 1% off of its all-time high of $505,000 reached in 2007, according to a report out Tuesday from CoreLogic.

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