recession – California Globe

Happy $20 Billion in Debt New Year: Drowning EDD Sinking Further

January 12, 2024 2:55 amJanuary 12, 2024 2:56 am

Globa Culpa. In October 2023, the Globe predicted the total EDD unemployment trust fund debt – principal and interest – would hit $20 billion. https://californiaglobe.com/fr/fed-unemployment-debt-to-hit-20-billion/ We were wrong – that didn’t happen until January 3, 2024. Even though six of...

CA Dept. of Insurance Approved State Farm 20% Home Insurance Rate Increase

January 4, 2024 4:48 pmJanuary 5, 2024 11:29 am

The California Department of Insurance approved a request by State Farm Insurance on Wednesday to allow the company to raise all active home insurance rates by 20%. Throughout 2023, multiple insurance companies operating in California either stopped accepting all new...

Not In Good Hands: Allstate Also Stops Accepting All New Home Insurance Applications in California

June 3, 2023 2:30 amJune 3, 2023 6:44 am

Allstate, one of the largest insurance companies in California revealed to the Department of Insurance on Friday that the company stopped accepting all new home insurance applications in California last year. Insurance companies have been on shaky ground in California...

Like A Good Neighbor, State Farm Isn’t There

May 27, 2023 2:30 amMay 27, 2023 4:50 pm

State Farm Insurance, the largest property and casualty insurance company in California, announced Friday they would no longer be accepting new applications for any kind of insurance other than personal vehicle insurance due to large increases in construction costs and...

Three Major Mayoral Races Still Have No Winner One Week After Election Day

November 14, 2022 4:59 pmNovember 15, 2022 6:43 am

Three of the largest mayoral races in California, as well as the entire country, remained undecided nearly a week after election day as of Monday, with Los Angeles, San Jose, and Oakland likely to not have overall winners until late...

Dead Heat In Oakland Mayoral Race According to Oakland Chamber Of Commerce Poll

October 20, 2022 12:21 pmOctober 20, 2022 12:22 pm

An Oakland Chamber of Commerce poll released on Wednesday found that that Oakland Mayoral candidates and City Councilmembers Loren Taylor and Sheng Thao are currently in a dead heat less than three weeks before election day. Ever since declaring themselves...

Gap Announces Mass Layoffs in SF, NY Corporate Offices

September 21, 2022 1:17 pmSeptember 21, 2022 8:31 pm

San Francisco-based retail giant Gap announced that 500 employees, or approximately 5% of their corporate employees are to be laid off in San Francisco as well as in smaller numbers in New York, marking the latest mass layoff to affect...