Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Corona, CA: AVT Reports Dramatic Revenue, Income Improvement In First Quarter

AVT Inc., a developer and manufacturer of automated and self-service retailing systems, posted gains in net income and revenue in the first quarter of 2012.

Net income for the three months ended March 31 rose to $225,0000 from $9,000 in the comparable 2011 period. Revenues climbed 150% year over year, to $3.5 million from $1.4 million. The company attributed the sharp increase to higher manufacturing revenues from large orders of its custom kiosks.

Corona, CA: Süss MicroTec acquires Tamarack Scientific

Süss MicroTec, a leading supplier of equipment and process solutions for the semiconductor industry and related markets, has acquired Tamarack Scientific Co. Inc., Corona, CA, a maker of laser systems for microprocessing in a $9.34 million share purchase (about 4% of Süss' 2011 sales), plus an additional variable earn-out component depending on the development of revenues for the upcoming three financial years.

The requirement for more functionality and higher performance of electronic devices drives the increasing performance needs for semiconductor components and higher complexity, trends that will require the adoption of innovative technologies in the semiconductor backend. In the last two years, necessary initiatives were undertaken to focus and reposition Süss MicroTec to ensure that the company will remain in a position to respond to market and customer requirements in a fast and flexible manner.

Corona, CA: California Shul Guilt Trips Mel Gibson


A temple in Southern California asks Mel Gibson to prove he is not an Anti-Semite by donating money to their cause

Congregation Beth Shalom, located in Corona California, sent a letter to Mel Gibson asking for a large sum of money that will aid in relieving their substantial debt. They have labeled their cause SOS: Save Our Synagogue.

The temple is at risk of foreclosure, and believes that Mel Gibson could improve his reputation within the Jewish community if he donates the necessary sum of money to prevent the temple’s doors from closing down.

Corona, CA: Corona Industrial Trades for $1M


Owner/User Expanding into 10,700 SF


Curlan, Ltd. sold the industrial building at 1691 Jenks Dr. in Corona, CA for $1.03 million, or about $97 per square foot, to an owner/user doing business as Preferred Insulation Contractors, Inc. The buyer is expanding and will be moving from its current location at 1678 S. Lewis St. in Anaheim.

Corona, CA: El Cerrito Fire Station Closes


The station, which lies close to Lake Elsinore on Temescal Canyon Road, is located less than 2 miles from the City of Corona’s fire station at 3777 Bedford Canyon.

After months of speculation, El Cerrito Fire Station #15 is closing, Cal Fire/Riverside County Fire Department officials have announced.

The county and the City of Corona have entered into an agreement to pass rescue, emergency medical services and public service assists in the unincorporated community of El Cerrito to Corona. CAL FIRE/Riverside County Fire Department will still jointly respond for fire protection.

The station, which lies close to Lake Elsinore on Temescal Canyon Road, is located less than 2 miles from the City of Corona’s fire station at 3777 Bedford Canyon.

Firefighters from Station #15 were called out to last month's Trilogy Fire that burned just west of the Trilogy Retirement Community near Temescal Canyon Road. The blaze ultimately charred 160 acres in the Cleveland National Forest.

“Closing the El Cerrito Fire Station #15 and entering into a contractual agreement with the City of Corona will avoid an overlap of services and create great cost efficiencies for both communities,” according to a Cal Fire/Riverside County Fire Department news release.

“The City of Corona operates a municipal fire department and provides all of the emergency services currently provided by the Riverside County Fire Department in El Cerrito including advanced life support, or paramedic service. We do not feel contracting services to the City of Corona will significantly impact the level of service the residents of El Cerrito have come to expect and deserve,” said CAL FIRE/Riverside County Fire Department Chief John Hawkins.

The agreement is one result of cost cutting measures designed to close a $9.9 million dollar budget gap faced by the Riverside County Fire Department.

The transition is set to take place effective July 5, and the agreement is valid through the end of the Riverside County fiscal year June 30, 2012. The agreement will be evaluated annually.

Continue to call 9-1-1 for all emergency services.

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Riverside, CA: Supervisor Proposing 13 Counties Secede From California


Under the proposal, Riverside, Imperial, San Diego, Orange, San Bernardino, Kings, Kern, Fresno, Tulare, Inyo, Madera, Mariposa and Mono would be asked to consider forming a 51st state, the State of South California.

Riverside County Supervisor Jeff Stone, 3rd District, announced Thursday that he will ask leaders in 13 counties to begin discussions about seceding from the State of California.

Under the proposal, Riverside, Imperial, San Diego, Orange, San Bernardino, Kings, Kern, Fresno, Tulare, Inyo, Madera, Mariposa and Mono would be asked to consider forming a 51st state, the State of South California.

Boards of supervisors and city councils within those counties would be invited to meet and discuss the feasibility of secession from California, Stone said in a statement sent by Ray Smith, spokesman for the Riverside County Executive Office.

"He is so disenfranchised with the state's inabilities," said Verne Lauritzen, Stone's chief of staff, in a phone interview late Thursday.

"So he is recommending we start some discussions with other counties, and there are lots of them.

"He is dead serious."

Lauritzen said Stone, who represents the communities of Murrieta, Temecula, Menifee, Canyon Lake, Hemet and San Jacinto, as well as several unincorporated areas, is largely frustrated with the Legislature's passage of Senate Bill 89.

The bill threatens to dismantle newly incorportated cities because it diverts vehicle license fee revenue to fund public safety.

The bill would drastically affect newly incorporated cities of Wildomar, Menifee, Eastvale and Jurupa Valley, Lauritzen said.

All are dependent on the vehicle license fee revenue.

Wildomar stands to lose $1.8 million in revenues if SB 89 is not amended. Potential revenue losses for the three other new cities are even higher, with Eastvale standing to lose $3.1 million, Jurupa losing $6.2 million, and Menifee dropping $3.9 million, according to a letter written by legislators to Gov. Jerry Brown.

The legislators asked the governor to return Senate Bill 89 to lawmakers for amendments.

“This revenue accounts for 20 percent to 25 percent of the entire budget for these new cities. These cities will be seriously impacted by this realignment and will have way no ability to recover from this devastating loss of revenue. The four cities in Western Riverside County (and unknown others statewide) may be forced into bankruptcy or un-incorporation as a direct result of this bill,” the letter states.

Assemblyman Kevin Jeffries, 66th District, Assemblyman Paul Cook, 65th District, Assemblyman Jeff Miller, 71st District, Assemblyman Brian Nestande, 64th District, Senator Bill Emmerson, 37th District, and Senator Bob Dutton, 31st District, all signed the letter.

Otherwise there will be a “devastating effect on four new cities within our region and may well result in bankruptcy or un-incorporation of one or more of them,” the letter stated.

Stone is slated to bring his breakaway proposal to the Riverside County Board of Supervisors on July 12.

Stone suggested the new state consider a part-time legislature, shifting governance more toward local control. Part-time legislators might receive only a $600 per month stipend and no other financial benefits except travel expenses to the new state capitol, he said.

Also open for consideration would be doing away with term limits, actually enforcing the state’s borders, adopting reasonable sales taxes and a provision like Prop. 13 that would control property taxes.

Counties and cities interested in the proposal, including those Stone has not already identified, would be invited to sit down and discuss the proposal.

He also suggested convening a meeting at the Riverside Convention Center, where residents and officials from each county and city would be welcome to offer ideas and testimony.

“Are there huge challenges? Absolutely,” Stone acknowledged. “But the destruction of California has to stop and we won’t know what we can accomplish unless we sit down and consider the possibilities.”

Corona, CA: Corona-Norco school board calls for marketing effort

The Corona-Norco Unified School District needs to do a better job marketing the quality of its schools as more private, charter and even neighboring public school districts try to lure students away, some board members say.

Ontario Christian School and new, nearby schools in the Chino Valley Unified School District have been delivering brochures in Eastvale, depicting public schools there as overcrowded because they are on year-round schedules, Corona-Norco school board member Bill Newberry said.

Newberry said he recently spoke to about 30 people in Eastvale who didn't know that one Corona school, Santiago High, was No. 188 on Newsweek's recent list of best high schools in America; that the district has dual-immersion programs in which students can study English and Spanish; or that the district has a school for students with special needs from preschool to adult, Victress Bower School.

That information is on the district's website, but board member Michell Skipworth said the district needs to send it to parents and the community. She suggested emailed newsletters.

Superintendent Kent Bechler suggested Newberry and Skipworth serve on a marketing committee with staff.

Skipworth said she thinks home schooling, charter schools, private schools and other districts are attracting students from district schools, and getting the state revenue. Based on average daily attendance, that's about $5,200 per student for Corona-Norco.

In 2009, the Alvord Unified School District sent postcards to families in a Riverside neighborhood touting the advantages of Lake Hills Elementary School. Lake Hills attracted new students from private and charter schools, more than covering the cost of its $2,125 marketing campaign, Alvord officials said at the time. They said most students coming from private schools were behind academically when they got to public schools.

Skipworth said she meets parents who home-school their children because they have what she called incorrect perceptions about Corona-Norco schools.

If parents knew about the options and successes within the district, including alternative high schools and magnet schools, they would be less interested when they hear radio commercials about charter schools or decide they can easily take their children to a Chino school on their way to work, Skipworth said.

The district's test scores and graduation rates continue to be better than county and state averages.

About 10 percent more of the students with disabilities are scoring in advanced and proficient on standardized tests. The graduation rate is 92 percent, and more students are meeting admissions requirements for UC and CSU schools, Deputy Superintendent Greg Plutko said.

Corona, CA: Oregon State baseball signee Brandon Martin goes


The Oregon State baseball team's 2011 recruit list took its first hit, as shortstop prospect Brandon Martin has opted to go pro and sign a contract with Tampa Bay.

A top infielder from Corona, Calif., Martin had signed a letter of intent in November to play with the Beavers, but was selected No. 38 by Tampa Bay in the MLB draft on June 6. He is currently playing in the Rookie Gulf Coast League.

As a junior, Martin had batted .300 with five home runs and seven stolen bases for Corona Santiago High School. He was one of 13 signees that coach Pat Casey and Oregon State had inked for the upcoming season.

The Beavers are coming off a season in which they went deep into the postseason, ultimately losing to Vanderbilt in the NCAA Super Regionals in Nashville. OSU finished the season with a 41-19 overall record and 17-10 record in the Pacific-10.

Corona, CA: Corona to lay off 15 police officers due to budget


The Corona Police Department will begin laying off 15 officers - about 10 percent of its force - in just over a week.

This comes after salary negotiations between the department and the city broke down.

The 15 layoffs will all come from within the patrol division.

"I don't think it's acceptable for any of these police officers to go away. I surely hope that something can be worked out between the groups to be able to make this not happen," said Corona police Chief Richard Madory. "It's not a good day for the city of Corona. I'm hopeful something would happen to be able to change it."

The chief said the 15 patrol positions will be filled by officers in other divisions.

Corona, CA: Business Alert: Looking to Capitalize on Small Business Innovation Research Funds?


Business Alert: Looking to Capitalize on Small Business Innovation Research Funds?

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