11/23/2020

News

$15 State Minimum Wage in the Cards? Labor Union Says Initiative has Enough Signatures for 2016 Ballot

An initiative to raise California’s minimum wage to $15 an hour by 2021 has enough signatures to qualify for the November 2016 ballot, according to a press release from SEIU-United Healthcare Workers West, which is sponsoring the measure.

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Governor Loosens Deffinition of “Made in USA” for California Products

Gov. Jerry Brown approved legislation on Tuesday that expands the definition of “Made in U.S.A” to more closely resemble a federal standard for domestically-produced goods in 49 other states.

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After Raising Wages, Walmart Slashes Hours

The cost of that wage increase has been estimated at more than $1 billion, and it seems as though the retailer is offsetting that cost with cuts to employee hours. The reductions began weeks ago, during the busy back-to-school shopping period.

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Oakland Labor Lawyer: Tech Companies are Next Targets for Overtime Pay Cases

An Oakland lawyer who just won a $36 million settlement from Bank of America for failing to pay overtime to 365 employees said he expects to see an uptick in overtime-related lawsuits in the Bay Area — particularly for companies in the sharing economy, such as Uber or Lyft.

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Tesla Rival Seeking Billion-Dollar California Factory? Here’s What We Know

A secretive electric car developer recently announced that it’s scouting several locations for a new factory, fueling speculation about a state tax-credit race similar to last year’s push for Tesla’s gigafactory.

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Finance Department Opposition May Kill $13 California Minimum Wage

The finance department opposes this year’s minimum wage bill because it would boost the state payroll by an estimated $1.2 billion once the wage reaches $13 in 2017. Finance officials also think the economic impact of a $13 minimum wage likely would be negative because it would slow the growth of employment.

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Who is Paid Minimum Wage? Fewer Than You Think

The Fed’s finding: “Currently, a little over a million workers are paid the federal minimum wage, and most of them are not employed full-time.” In addition, “A little less than a million workers are paid less than the federal minimum wage, a large majority of whom are employed full-time.”

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California Set to Give Tesla Another Multi-million Dollar Tax Break

The $15 million state tax credit would be in return for Tesla (NASDAQ: TSLA) creating about 4,500 jobs across its facilities in Fremont, Hawthorne, Lathrop and Newark, said Brook Taylor, a deputy director of the Governor’s Office of Business and Economic Development. The agency administers the California Competes program.

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Sky-High Housing Prices Force CEOs Across Industries to Adapt

The cost of housing — and concerns about commutes — are causing anxiety among Jindal’s clients. He recently had to revise a deal that involved recruiting a crack team of hackers for projects in Silicon Valley. Instead, partially based on the projected cost to lure them, he was forced to export the projects — and the cash infusion it would have meant locally — to a coding team in Dallas and Charlotte. . . “It’s very difficult. I just lost three servers to Texas, and one cook and a busboy to Oregon,” Rocca said. “They can’t make enough money to get ahead, so they spend every dime they make. So they left. They just didn’t like that.”

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Port of Oakland Shuts Down as Union Skips Work, Federal Officials Intervene

The Port of Oakland shut down operations Thursday as longshore workers attended a union meeting instead of showing up to work amid a protracted labor dispute with shippers.

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Engineer Salaries Grew Even More in 2014; Exodus to SF Continued

In 2014, the average software engineer at a Series B funded company made $142,000, up from $130,000 in 2013. Series C funded companies paid programmers $137,000 salaries on average, up from $128,000 the previous year.

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San Jose is Top US Advanced-Industries Hub, but Faces Challenges in Expanding

San Jose’s metro area leads the U.S. as an advanced-industries hub, but the crucial expansion and improved competitiveness of this high-tech workforce could be challenging, the Brookings Institution says in a new report.

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Standard and Poor’s Upgrades California’s Credit to A+

Following voter approval of a state rainy day fund, Standard and Poor’s raised California’s credit to an A+ stable rating on Wednesday, the state’s fourth upgrade by a credit ratings agency in the past two years. The rating was raised from A.

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What Propositions 1 & 2 Mean for Business, California’s Economy

If the dollars flow in the intended areas, the newly approved water bond and rainy-day fund both have the power to improve California’s economy, local business leaders said Wednesday.

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Google Seals Massive Sunnyvale, Redwood City Deals

Google Inc. has cemented a pair of massive real estate deals in Sunnyvale and Redwood City that boost the company’s Silicon Valley footprint by 2.8 million square feet – about the size of the Empire State Building and enough room for more than 10,000 workers.

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