The Promenade Shops at Dos Lagos loan may be in default reports Credit Suisse!!!

Corona, CA: Two of the largest loans in recent commercial mortgage-backed securities, including one financing two Westin hotels, are close to default, according to Credit Suisse analysts.

A $209 million loan for Westin hotels in Tucson, Arizona, and Hilton Head, South Carolina, in October was transferred to a special servicer in October "due to imminent default," the analysts said in a research note on Tuesday.

The loan, originated by JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) in December 2007, is split between two JPMorgan CMBS issues, representing 8.9 percent of each deal, Credit Suisse said.

A JPMorgan spokesman declined immediate comment.

Westin is owned by Starwood Hotels & Resorts Worldwide Inc (HOT.N: Quote, Profile, Research, Stock Buzz).

A $125.2 million commercial mortgage for the Promenade Shops at Dos Lagos -- a retail center located in California's foreclosure-ridden Riverside-San Bernardino-Ontario metropolitan area -- this month was also transferred to a special servicer, which focuses on troubled loans, according to Credit Suisse.

The Promenade loan is 10.8 percent of one of the JPMorgan CMBS containing part of the Westin loan.

Commercial real estate securities have been shattered this year amid expectations weak underwriting standards of recent years and slowing economic growth will increase defaults from historically low rates. Many loans were made on expectations that cash flows from office rents, retail stores and hotels would continue to rise.

Tight credit conditions have also eliminated refinancing opportunities.

The percentage of commercial real estate loans sent to special servicers has jumped to nearly 1 percent of deals by mid-2008 from less than 0.5 percent a year earlier, according to JPMorgan data. The data suggest more defaults, and possibly interest shortfalls for investors as fees to special servicers mount, JPMorgan said in a slide presentation this week.

The Promenade Shops at Dos Lagos tree lighting...The reviews are in and they are not good!

Editors Note: This is a shared story from a Blogger!

It seems that Christmas is coming early this year, as it seems it arrives earlier than it did the year before. Soon enough, we’ll only have to cook one turkey on Thanksgiving and there’ll be leftovers for Christmas. We went down to Dos Lagos last night and witnessed the longest, most drawn-out tree lighting ceremony ever…and all they did was flip a switch, but we had to wait for the emcee, Santa himself, to give his approval. Apparently he was stuck on the freeway, and when they announced that, I wondered how many kids looked up at their parents, and through innocent eyes, asked, “Why doesn’t he just fly here with his reindeer?” And since it was only 80 degrees out, which puts only a few people in the mood for Christmas, I’m surprised Santa didn’t collapse from heat stroke in his giant suit… and it explains why he was walking so slowly.

But then after they flipped the switch on the giant tree and all the twinkley lights made the crowd go “ahhhh,” he was taking Christmas wishes from kids in front of Victoria’s Secret, which would be the first place I would have thought to mix Santa and children on a warm Friday night.

All of the stores are decked out with that one sections that smacks Old Saint Nick right in your face without actually saying Christmas; it’s all “Happy Holidays,” a well-dissolved blanket greeting that will certainly not upset anyone who celebrates one of the non-holidays this time of year. Do you know anyone who doesn’t celebrate Christmas? And if you do, are they frequently offended by seeing the word Christmas? Odds are good they aren’t. Anyways, as my frustration with PCC (Politically Correct Consumerism) rises as we get closer to Christmas, I’m sure I’ll have more to add on this topic.

Hearthside Lane in Corona in default!

Potential buyers beware

One of the new communities in Eastvale is in trouble. Irvine builder California Coastal Communities is in default on a loan that is secured by several properties. One of those is Hearthside Lane in Corona. They are currently negotiating with the lender to turn over these properties to them. So it you are currently looking at a Hearthside home you might want to hold off. There's no telling what will happen once the lender takes the project.

Here's part of the press release

Impairment charges of $29.1 million recorded during the third quarter of 2008 primarily reflect fair value write-downs for the Hearthside Lane project in Corona and Las Colinas project in Lancaster of $24.1 million and $1.5 million, respectively, and a $3.4 million charge related to our Woodhaven project in Beaumont. Subsidiaries of Hearthside Homes, Inc. are currently in default on the loans secured by the Hearthside Lane and Las Colinas projects and they are attempting to negotiate a consensual resolution of the loans which is likely to involve turnover of the properties securing these loans to the lender. Therefore, under GAAP the Company was required to reduce the carrying value of the Hearthside Lane and Las Colinas projects to their estimated fair values during the quarter ended September 30, 2008. After these impairment charges, the related debt exceeds the carrying value of these assets by approximately $18.5 million. If the Hearthside Lane property is transferred to the lender in full settlement of that loan, the Company will recognize a substantial gain as a result of debt cancellation. If the gain is equal to the amount that the recorded debt exceeds the carrying value of the assets, the $18.5 million pretax gain would result in a gain of $10.9 million after tax, or $1.00 per share. Both of these loans are guaranteed by Hearthside Homes, Inc.; however, they are not guaranteed by and do not otherwise constitute obligations of California Coastal Communities, Inc. There can be no assurance that the lender will agree to a consensual resolution of these loans.

Corona, CA native Victorine out 6-8 months after knee surgery!

Chivas USA's Sasha Victorine successfully underwent microfracture surgery on his left knee and is expected to miss 6-8 months, the Major League Soccer club announced on Wednesday.

Victorine, who joined Chivas USA from the Kansas City Wizards on Sept. 15, originally suffered the injury to his knee in the match against the Colorado Rapids on Oct. 19.

In his MLS career, the Corona, Calif. native has played a total of 232 matches, with 32 goals and 40 assists. At the international level, Victorine has four caps and one goal for the full U.S. national team.

Skydiving daredevils break world record: A group of international daredevils has set a new world record in a skydive over Lake Elsinore in California.

The 71 divers from across the world assembled in the largest ever mid-air formation in the short history of wing-suiting - a variation on skydiving in which participants wear specially designed suits that slow down their fall to the ground.

The "wings" on wing-suits also allow the wearer to gain more control over their fall, giving them the sensation of flying horizontally as well as dropping vertically.

The group, who smashed the previous record of 16 wing-suiters, jumped from planes at 14,500 ft. They travelled almost three miles in a few minutes, moving at horizontal speeds of 100 mph and vertical speeds of 68 mph and were positioned just three metres apart.

They spent five days practising for the world record attempt, going through 30 dry-runs before the main event on Wednesday.

Justin Shorb, the group's organiser and wing captain, said: "It looks amazing and its a really good feeling to achieve this."

"We have people at this event from 6 continents including jumpers from UK, South Africa, Europe. I put my team through hell to get this to work ... to see their faces and to hear their screams and cheers when we announced that we did it, it was the most amazing accomplishment I have ever felt. It was awesome."

Mr Shorb, 27, from Boston, explained: "All 71 sky-divers were separated in four aircraft, named A, B, C and D. We had them lined up one in front of the other at 14,500 ft.

"At that height, every plane opened its door at the same time and we would all climb out and hold onto the side of the plane ready to jump. As soon as the jumpers in the second plane jumped, everybody followed.

"From the first person to the last person to exit the plane was roughly seven seconds."

No Sex Offender Status for Murrieta Teacher Who Had Sex With Student; double standard?

A female high school English teacher who had sex with an underage girl at her school was sentenced Thursday to three years probation.

Crissy Torcella Hisey, 28, must also serve 118 days in the county jail, to be served on weekends, according to court records.

But Hisey will not have to register as a sex offender, said Ryan Hightower of the Riverside County District Attorney's Office.

Hisey pleaded guilty in August to 10 counts of oral copulation with a child under 18.

As part of a plea agreement, Riverside County Superior Court Judge John Monterosso dismissed a charge of distribution or exhibition of lewd material to a minor.

Hisey was arrested in May, after Murrieta police were told Hisey was having sex with a minor at Vista Murrieta High School, where she taught, said Murrieta police Sgt. Jim Ganley.

The teacher and the student both admitted to having an ongoing sexual relationship, Ganley said at the time of the arrest.

Sears to shutter Great Indoors; Chino Hill's and 7 other locations.

Sears Holdings Corp. is closing its Great Indoors store in Schaumburg next year.
The store is one of seven slated to shut down on or around Feb. 4 due to “poor performance,” a company spokeswoman said. The list includes three stores in Las Vegas; Woodbridge, N.J., and Chino Hills, Calif.

The Hoffman Estate-based retail chain also is shutting down Sears Grand and Sears Essentials stores in American Fork, Utah; Clearwater, Fla., and Menomonee Falls, Wis.

Sears said last month it would close 12 stores on Jan. 31.

The Schaumburg Great Indoors store employed about 113 people. Sears closed its Deerfield Great Indoors location in 2005.

Sears is slated to report third-quarter earnings Dec. 2. In the second quarter, net income dropped 62% to $65 million, or 50 cents a share, from $173 million, or $1.15 a share, in the year-earlier period. Revenue declined to $11.8 billion from $12.3 billion.

Since hedge fund manager and Sears Chairman Edward Lampert merged Sears Roebuck & Co. and Kmart Corp. in 2005, many shareholders betted he would sell the company’s prime real estate. Instead, Mr. Lampert has been restructuring the business by dividing the company into five business types — including real estate.

“Most people would imagine that given the lack of overall performance of the chain, you would probably see him shutting down a larger number of stores and using that capital to invest in some of the emerging businesses,” says Love Goel, who tracks the retail industry as head of retail investment company Growth Ventures Group.

The Great Indoors store concept, the brainchild of then-CEO Arthur Martinez in 1998, offers high-end home décor and remodeling, competing against Home Depot Inc. and Target Corp. It eventually became a money-losing chain.

Sears will be left with about 12 of these stores after the latest round of closings.

Pascarella Excited About Saturday Visit (Corona, CA)

Centennial HS OL Gavin Pascarella (Corona, CA) will make his official visit to Boise State on Saturday. It's no secret that Pascarella is one of the targets on the recruiting board. Expect the Bronco coaching staff to give him the full Boise State experience. He spoke to about the visit on Saturday and his most recent game.

Suspect With Fake Money Flees Chili's, Hides in Bushes (Murrieta, CA)

MURRIETA, CA: A man who allegedly tried to pay for a restaurant takeout order with a $100 bill was in custody, accused of trying to pass counterfeit money, authorities said Monday.

Andrew Donald Van Dam, 37, allegedly used a counterfeit bill at Chili's in the 41000 block of California Oaks Road about 10:30 p.m. Saturday, according to Murrieta police Sgt. James Gruwell.

Restaurant employees became suspicious of the money and called authorities.

When police arrived, Van Dam ran across Interstate 15 and hid in bushes, where officers found him, Gruwell said.

Officers recovered a second counterfeit $100 bill hidden in a drain basin near the suspect's hiding place, Gruwell said.

Van Dam was booked into the Southwest Detention Center on suspicion of burglary, possession of counterfeit currency and passing counterfeit currency, sheriff's jail records indicate. Arraignment is set for Thursday at the Southwest Justice Center.

The arrest was the third counterfeiting-related case in southwest Riverside County in two weeks. The earlier arrests were made in Murrieta and Hemet. It's unclear if the cases are connected.

The Crossings at Corona Fountain: Photographers Perspective

Daum Represents Seller in Sale of 4190 Green River Located in Corona, CA

Quick Pitch $1.9 Million Office Building Sale in Corona, CA

DAUM Commercial Real Estate Services announced today that it represented Lawrence and Vicki Jackson in the sale of an 8,204- square foot office building located in Corona. The total consideration of the sale was $1,900,000.

Mike Barreiro of DAUM’s Newport office represented the sellers, Lawrence and Vicki Jackson in the transaction. The free standing, two-story, class-A office building is located at 4190 Green River in Corona. This is a user/investment deal, with the buyer occupying half, and the seller leasing back half.

Recruiting Update: Week 12 Corona, CA

Sean Martin, Defensive Back, 6'0", 170 lbs, Corona, CA. Apparently he had already made up his mind, but decided to commit by phone to Mike Riley after the UCLA game. He was at the game, interacted with the coaching staff, and then committed. His other current offer appears to be from Minnesota, and he is being recruited by most of the Pac 10 schools. Even with the forthcoming graduation of Afalava, Lewis, and Hughes the Beavers have excellent depth in the defensive backfield for next year and we should all expect for Sean to redshirt and not really compete for playing time until 2010.

Famous Stars & Straps Warehouse Sale

I first heard news that the FMS warehouse sale was going down the other day, however I didn't post it because the date was not squared away 100%. Anyways, on December 6th, 2008 the warehouse sale will be held at the Famous Showroom just like last time. Its your one chance of the year to get gear for incredibly low prices. Shirts - $5.00, Denim - $15.00, Shoes - $8.00, Buckles - $1.00, and so on and so forth. So dont miss out, I'll be their for sure so dont be shy, come on up and say hey.

1-951- 817-0817

Glynn Johnson, your a bad, bad man! Puppy severely beaten, resulting in death

Incident Date: Monday, Nov 3, 2008
County: Riverside

Charges: Felony CTA
Disposition: Not Charged

Person of Interest: Glynn Johnson

How can any human being just murder a puppy for no reason?" dogowner Shelley Toole says fighting through tears.

Her family can't sleep.

They say Monday, their next-door neighbor, in some kind of violent rage, beat their puppy so badly the dog had to be put down.

Karley was a six-month old shepherd mix.

What may surprise many people is the fact that the neighbor is Los Angeles County Assistant Fire Chief Glynn Johnson.

An online biography lists a stellar 30-year career with the department. It says he's an expert in counter-terrorism, among other areas.

But his neighbors of the last ten years have a very different picture of the man. Jeff Toole, Shelley's husband, says he believes Chief Johnson "needs a lot of help."

Riverside County investigators tell KTLA the fire chief admits to beating the dog -- but says it was in self-defense because Karley attacked him viciously.

The Tooles say Monday evening, Karley got out and went to neighbor Travis Staggs' home. He lives on the other side of Chief Johnson's house.

Staggs says he was walking Karley home when Johnson stepped in and said he would take the dog back home.

Staggs says he reluctantly handed over the puppy, and that's when it happened in Johnson's front yard.

Travis Staggs tells KTLA that Glynn Johnson simply started beating the dog, and that the dog had not attacked Johnson first.

According to this witness, Johnson hit the dog repeatedly with a closed fist, put his hands in the puppy's mouth and tried to break its jaws, and eventually beat the dog over the head repeatedly with a large rock from the front yard.

Staggs says he tried to stop the attack but couldn't. The Toole family later decided to have Karley put down because of the extent of her injuries.

"It scares me, knowing I live next-door to this man," says Travis Staggs.

The Tooles say they will take civil action against the assistant fire chief regardless of the outcome of the criminal investigation.

Riverside County deputies tell KTLA they are conducting more interviews with witnesses in an attempt to determine what really happened in this case. If detectives find enough evidence that the dog beating was unwarranted, they will hand the case over to the district attorney for a possible animal cruelty charge, which is a felony.

The Tooles say there is a "history of violence" with Glynn Johnson, and deputies say they are looking into these claims as well.

"This man needs to go to prison for what he did," says Shelley Toole. She adds, "Karley was my baby, and he took her away from me."

Funding Pours in for Green Valley Initiative

The economic development agencies of both Riverside and San Bernardino counties have committed $25,000 each to the process of identifying and promoting clean and green technology opportunities and projects for the region - efforts that will bring jobs and grow business in the Inland Empire. The Morgan Family Foundation, a non-profit benefitting youth, education, environment and stewardship, has pledged a $50,000 matching grant to help fund a detailed action plan developed by Silicon Valley mastermind and economist Doug Henton of Collaborative Economics, Inc. The study will pinpoint strategies and approaches to take when GVI is formally launched as an independent entity in January.
These funding sources come on the heels of a $100,000 grant awarded to GVI last month by Southern California Edison.

GVI is a regional economic development plan launched in 2007 to promote renewable energy sources, alternative fuels, biotech, nanotech and other sustainable industries in Riverside and San Bernardino counties, a Southern California region referred to as the Inland Empire. To date, the boards of supervisors of both counties, the Western Riverside Council of Governments and more than 25 cities and public agencies have adopted resolutions in support of the initiative.

"Riverside County's Economic Development Agency has been a key partner in the Green Valley Initiative since its inception," said Sarah Mundy, assistant director. "These next steps are vital to identifying future projects for the region and seeing them through."

"Thanks to the generosity of the county EDAs and the Morgan Family Foundation, the Green Valley Initiative will continue to gain the momentum required to accomplish our goals," said Ali Sahabi, who helped launch GVI in 2007 through his nonprofit, GIVE. Sahabi is president of SE Corporation, a land-planning and entitlement company specializing in sustainable communities.

GIVE is a nonprofit organization established in 2006 to promote balance in the way people live, how their choices impact the environment and others in their community. For more information visit

Various agencies and nonprofits contribute $200,000 to the mission's next steps: forming an independent entity and action plan to be implemented in January, 2009

Local Voting Results.

Corona-Norco USD Governing Bd. Mbr. 83/116 71.55%

Vote Count Percent
JOSE LALAS 13,463 22.71%
CATHY L. SCIORTINO 12,349 20.83%

PAT SCOTT 8,553 14.43%
MAGGIE E. LITTLE 8,077 13.62%
BILL NEWBERRY 6,787 11.45%
Total 59,287 100.00%

Corona City Council Member 45/66 68.18%

Vote Count Percent
JASON SCOTT 8,813 29.48%
STEVE NOLAN 8,723 29.18%

BAXTER MILLER 7,072 23.66%
LOUIS DAVIS 2,791 9.34%
TIA MARIA MAGEE 2,492 8.34%
Total 29,891 100.00%

Proposition Results

The following statewide proposition election results have been reported by the California Secretary of State. With 5,706(22.4%) of 25,429 precincts reporting:

Proposition 1A - Safe, Reliable High-Speed Train Bond Act
Yes 1,489,236 48.5%
No 1,578,868 51.5%

Proposition 2 - Standards for Confining Farm Animals
Yes 1,959,649 62.1%
No 1,199,254 37.9%

Proposition 3 - Children's Hospital Bond Act. Grant Program
Yes 1,499,862 48.4%
No 1,598,304 51.6%

Proposition 4 - Parent Notification Before Terminating Minor's Pregnancy
Yes 1,565,518 49.7%
No 1,582,677 50.3%

Proposition 5 - Nonviolent Drug Offense. Sentencing, Parole, Rehab
Yes 1,129,236 36.2%
No 1,987,451 63.8%

Proposition 6 - Police, Law Enforcement Funding. Criminal Laws
Yes 942,673 30.8%
No 2,112,462 69.2%

Proposition 7 - Renewable Energy Generation
Yes 1,055,436 33.7%
No 2,067,541 66.3%

Proposition 8 - Eliminates Right of Same-Sex Couples to Marry
Yes 1,691,250 54.6%
No 1,411,329 45.4%

Proposition 9 - Criminal Justice System. Victims' Rights. Parole
Yes 1,707,659 55.5%
No 1,370,023 44.5%

Proposition 10 - Alternative Fuel Vehicles and Renewable Energy Bonds
Yes 1,142,290 37.3%
No 1,914,381 62.7%

Proposition 11 - Redistricting
Yes 1,612,580 54.0%
No 1,378,419 46.0%

Proposition 12 - Veterans' Bond
Yes 1,873,636 61.3%
No 1,185,973 38.7%

Corona-Norco Voting Results as of 10 PM

CITY COUNCIL-CORONA Total Reporting: 12%

Name Votes Pct.
Steve NOLAN (NP) 3,254 30%
Jason SCOTT (NP) 3,167 29%
Baxter MILLER (NP) 2,346 22%
Louis DAVIS (NP) 1,128 10%
Tia MAGEE (NP) 958 9%


Name Votes Pct.
Cathy SCIORTINO (NP) 5,039 21%
Jose LALAS (NP) 4,965 21%
Michell SKIPWORTH (NP) 4,059 17%
Pat SCOTT (NP) 3,713 15%
Maggie LITTLE (NP) 3,571 15%
Bill NEWBERRY (NP) 2,752 11%

Voting Update!

McCain wins North Dakota and Wyoming, Obama wins New York, Michigan and Minnesota.

Voting Update!

Barack Obama wins Pennsylvania.

Voting Update!

Obama wins Connecticut, Delaware, District of Columbia, Illinois, Maine, Maryland, Massachusetts, New Jersey, according to the Associated Press. McCain wins Oklahoma, Tennessee, South Carolina.

Circle City Miss Corona Scholarship Pageant

I just wanted to inform everyone that we will be having the 1st annual Circle City Miss Corona Scholarship Pageant (Actually this year it will be a Queens Corination) this event will take place at the Historical Civic Auditorium at the end of November. Please check our web site for more details and how to aquire tickets to our event.

Something Smells Citrusy! A Blogger's perspective of Cirtus City Grille.

Mmmmm, the smell as you drive into the parking lot of Corona's Dos Lagos is something that will send your appetite into overdrive. The culprit to the scentsation...the Citrus City Grille.

One Saturday afternoon, my husband and I had a day all to ourselves (Papa had the boys), so, we decided to head to my "happy place" to enjoy an afternoon of relaxing and enjoying a good meal. The scent of citrus and herbs permeated the air, and like true epicures, my husband and I allowed our imagination of taste to lead the way.

As we entered the Citrus City Grille, we were amazed by the modern decor; and yet, the Grille also had a very zen-like appeal. The restaurant, with its obvious upscale elements, also lead one to feel at ease and relaxed. As the hostess lead us through the area, and out onto the patio; we noticed many wonderful attributes about the eatery. There was an amazingly clean, open-view kitchen, which we were later told, by the manager, Willyum Gald, that this was created to help customers decide what to order, by first viewing the impressive plating of the entrees. We also strolled by the wine cellar which held over 150 selections.

Are dining area of choice was the patio area that was centered around a grass lawn (there was also a mini putting green). The most wonderful part about this area was the view, which boast the two lakes by which Dos Lagos receives its name. Serene, lovely...tranquil. Out on the grass where several plush sofas and chairs for persons to sip wine and sit quietly while enjoying the view and listen to cool jazz.

Our lunch was delicious and the service was impeccable. We were enjoying ourselves so much that we ended up just sitting and enjoying the scenery...uninterrupted for several hours. Hey, what's the rush...NO KIDS!

Oh yes, I must mention this wonderful feature: Just outside the bathroom was an area just for washing your hands. That's right, rather than going into the restrooms, the Grille created an area specifically for hand-washing. By the way, I took a peak into the potties...they were equally beautiful.

The Citrus City Grille will give you an excellent dining experience. Enjoy!

Interactive Classroom Makeover Contest...VOTE for Corona, CA!

Technology “6-8 Grade″

Corona Ranch Elementary School
Corona, CA Click HERE

McCain in Kentucky, Obama wins Vermont

McCain in Kentucky, Obama wins Vermont

More FREE Stuff for Voting...

What a country we have here in the US. Not only do you have the privilege of voting tomorrow in a safe manner of a true democracy, but you can get free stuff just because you went to the polling place and pulled that lever for your candidate of choice for this great country. Can this be true? Just for casting a vote? Yes it is, so read on my voting friend.

Vote and you can get Free Food

Krispy Kreme is offering a free donut in the shape of a star for your vote tomorrow. It even has red, white and blue sprinkles. So keep that blood sugar up tomorrow and show them your sticker that says you voted and get your free donut!

And that ice cream specialty retailer, Ben & Jerry's is offering to the American voter a free scoop of ice cream on Tuesday but only from 5 p.m. to 8 pm. All flavors are available for you to choose from.

Chick-fil-A, will be giving away a chicken sandwich to all you voters out there that braved the long lines to vote. Anytime between 6:00 a.m. and 10:00 p.m. on Wednesday you just bring in any campaign sign from the election and exchange it for your free chicken sandwich, only one per customer. They have noted that "all voter signs will be returned to the appropriate campaign representative."

Vote and Get Free Music

You can download for free the Bob Dylan song "I Shall be Released" as performed by Wilco with Fleet Foxes. All you have to do is check a box at the website that says "I pledge to vote in the 2008 election" and the sond is yours for free.

Vote and get Free Coffee

And not to be outdone for the day that the American voter goes to the polls and casts their choice for the leader of the free world, Starbucks, the coffee officiates, are giving away a free tall cup of brewed coffee anytime tomorrow if you show your "I voted" sticker.

FREE Coffee for Voting...Say WHAT?

Vote TODAY, November 4th, and visit Starbucks at The Promenade Shops at Dos Lagos (as well as other participating Starbucks) for a FREE Tall Brewed Coffee.