Monday, July 26, 2010

Monday Must Read

By Stephen Buel
Mon, Jul 26, 2010 at 8:58 AM

Stories you shouldn't miss:

1. Oakland's recent decision to lay off 80 police officers is likely just the beginning of a wave of public employee layoffs across the state, as governments begin to come to grips with the excessively generous benefit packages they awarded workers during the past decade, experts told the San Francisco Chronicle.

2. Managers from several Bay Area police agencies are scheduled to meet this week to review the communications breakdowns and logistical errors that marred the response to the protests that followed the verdict in the Johannes Mehserle murder trial, the Chronicle reported. Officers from some 15 agencies turned out for the July 8 police action.

3. As of last April, an estimated 40,283 homeowners in seven Bay Area counties are at least three months late on their mortgage payments but not yet in foreclosure, the real estate research firm CoreLogic told the Tribune. That's about 4.5 percent of all mortgages in the area, the paper reported.

4. Homeowners who have received short-term loan relief from the federal Home Affordable Modification Program are finding that they often are unable to secure a long-term loan modification within the three months in which lenders are supposed to provide an answer, the Tribune reported.

5. Reel Video has closed, the Trib reported. A group of investors purchased the store's inventory earlier this month, and they visited the store on July 11 to break the news to employees.

6. Former Republican Secretary of State George Shultz has joined Democratic financier Tom Steyer to oppose state Proposition 23, a November ballot measure that seeks to roll back AB 32, California's groundbreaking climate change law, the Chron reported. (Article not online until Tuesday at 4:00 a.m.)

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