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Finance

A collection of news and information related to Finance published by this site and its partners.

Top Finance Articles

Displaying items 85-96
  • Citing debt, ratings agency gives Glendale water utility negative outlook

    Citing debt, ratings agency gives Glendale water utility negative outlook
    The water side of Glendale Water & Power is so in debt, a bond rating agency downgraded the utility’s rating and gave it a negative outlook because the score is expected to drop again in the future. Dropping the rating from AA to A+ could lead to...
  • Former Glendale Councilman John Drayman indicted on charges of embezzlement

    Former Glendale Councilman John Drayman indicted on charges of embezzlement
    Former Councilman John Drayman was indicted Tuesday on charges that he embezzled at least $304,000 from the weekly farmers market in Montrose. In a 28-count grand jury indictment unsealed in Los Angeles County Superior Court, prosecutors also allege that...
  • Judge grants John Drayman's release

    Judge grants John Drayman's release
    A Los Angeles County Superior Court judge on Wednesday granted the release of former City Councilman John Drayman from jail after his supporters agreed to pay a $16,000 bond. All that remained Wednesday afternoon was for a bondsman to provide the $200,...
  • Replace civil servants with contractors

    The article by Brittany Levine (“No easy answers to budget gap,” May 1) pointed out that the new city manager, Scott Ochoa, has pronounced that a “new normal” is necessary to mitigate the current financial shortfall that our city...
  • At public meeting, Greg Krikorian calls bankruptcy protection 'minor incident'

    At public meeting, Greg Krikorian calls bankruptcy protection 'minor incident'
    Greg Krikorian, a Glendale school board member challenging Assemblyman Mike Gatto in the 43rd district, defended his financial record Tuesday, calling the fact that he and his wife had to get through bankruptcy protection after incurring more than $49,000...
  • Glendale's $385M-investment portfolio feels tinge of foreign debt crisis

    The city’s investment portfolio continues to get pinched amid slow economic recovery, officials reported this week, ending $11 million down compared to the previous fiscal quarter. With the third quarter results out, the $385-million portfolio...
  • John Drayman: Grand jury testimony paints picture of lax financial oversight

    John Drayman: Grand jury testimony paints picture of lax financial oversight
    Grand jury testimony in the embezzlement case against John Drayman — unsealed Friday — painted a picture of lax oversight of the former city councilman’s collection and accounting of proceeds from the Montrose Harvest Market, an...
  • Ron Kaye: The restructuring of GWP

    Like dominoes tipping over, one after another, cities — first Vallejo, now San Bernardino, next Compton — are seeking relief from their fiscal incompetence and reckless irresponsibility by hiding behind bankruptcy laws that leave creditors and...
  • Glendale, Pasadena stand up to California

    Glendale, Pasadena stand up to California
    Nine cities, including Glendale and Pasadena, filed a lawsuit this week in an effort to force the state to make good on millions of dollars for local officials to pay down debt and other obligations left over by the dissolution of local redevelopment...
  • Glendale moves to issue more water bonds for infrastructure upgrades

    Glendale moves to issue more water bonds for infrastructure upgrades
    With Glendale’s bond rating under scrutiny, the City Council this week moved toward issuing $35 million in water bonds to cover the cost of planned infrastructure work. In October, Moody’s Investors Service put Glendale and dozens of other...
  • Questions roil Armenian Genocide compensation fund

    More than $1.6 million has been paid out from a compensation fund for descents of Armenian Genocide victims, according to a status report filed in a lengthy lawsuit in U.S. District Court. However, four of the 32 claimants who haven’t been paid...
  • Fitch downgrades Airport Authority bonds

    Fitch downgrades Airport Authority bonds
    Credit agency Fitch this week downgraded its rating on Burbank-Glendale-Pasadena Airport Authority bonds, but noted the airport is in healthy financial shape overall. The agency dropped its rating to A+ from AA- on $53.5 million worth of outstanding 2005...