San Bernardino city council has delayed a vote on whether to declare a fiscal emergency until at least Wednesday.The action comes after council members voted last week to seek bankruptcy protection due to a 45-million-dollar budget deficit. Declaring a fiscal emergency wwould speed up the bankruptcy proceedings. Meantime the San Bernardino Sun reports that city officials have discovered that money from restricted funds was routinely used in the past to meet payroll and other expenses. A criminal investigation is underway into possible wrongdoing.
Economists say the current drought is hitting the nation’s corn crop hard, with the price of goods made with corn jumping some 38 percent since June 1st. They note that roughly 75 percent of the products you buy in your local grocery store are made from corn. The USDA predicts grocery prices will rise 3 and a half percent by the end of the year.
It looks like an ipad mini is about to be a reality. The New York Times is reporting that Apple could announce the smaller ipad with a 7.8 inch screen later this year and will be as thin as an ipod. It’s also expected to have a lower price…likely less than $300.
Deep Purple co-founder and keyboardist Jon Lord has died after a battle with pancreatic cancer. Lord co-wrote many of the bands songs including the iconic Smoke on the Water. He was 71.
It could only be a matter of months before the Rolling Stones are back on stage. Mick Jagger tells London’s “Evening Standard” thatthe band plans to be performing together live “in the autumn.” Rumors of a Stones tour have been circulating for months, in conjunction with the band’s 50th anniversary.
July 17, 2012 at 6:10 am | Local News | No comment