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Working Partnerships USA brings people together to tackle root causes of inequality and poverty. Advocating for change, it collaborates with local organizations to offer “quality jobs, healthy communities, equitable growth and a vibrant democracy.”

California Local Pin Marker Local Economy & Jobs Digest

State May Downsize Program for First-Time Homebuyers

03/21/2023

Gov. Newsom wants to spend $300 million the first year. But falling home prices and rising mortgage rates are complicating the launch.

Ruling Opens Door to Gig Driver Unionization

03/19/2023

A court ruling that upheld much of a 2020 gig-worker initiative also struck down a part that labor advocates say could lead to legislation for driver unionization.

California Local Pin Marker Recent Articles

Image caption: What role did the self-described "libertarian" venture capitalist play in SVB's collapse?
Did Peter Thiel Cause the Collapse of SVB?

Peter Thiel, the Donald Trump supporting Silicon Valley billionaire and venture capitalist, may have played a big role inthe bank run that ended in the failure of Silicon Valley Bank. But why?

Image caption: The government has avoided calling its plan to pay off SVB depositors a "bailout." But is it?
Silicon Valley Bank Collapse: the Causes and Bailout

SVB lobbied hard for bank deregulation, which may have led to its own failure. And depositors blew past limits on federal insurance, knowing they would lose their cash if the bank went under unless the government saved them. Here’s how …

San Jose Inside logo LOCAL NEWS
The Whole World Was Watching: Five Days in March

The shockwaves and aftershocks of the failure of one bank are likely to linger for years, and these tremors will likely change the way companies are built in the future.

San Jose Inside logo LOCAL NEWS
High Interest Rates, Crypto Deposits Increase Banks’ Risks, Says Moody’s

Moody’s downgraded the credit rating of six regional banks, including the holding company of San Jose’s Bridge Bank.

San Jose Inside logo LOCAL NEWS
Zuckerberg Announces 10,000 New Layoffs at Meta

The new announcement is the company’s second round of cuts within the past half year. In November, Meta laid off more than 11,000 people, or about 13 percent of its work force at the time.

San Jose Inside logo LOCAL NEWS
Making Sense of the Silicon Valley Bank Collapse

For most banks, higher interest rates are good news because they can charge more for loans. But for SVB, they hurt.

San Jose Inside logo LOCAL NEWS
Silicon Valley Bank Paid Bonuses Just Before Feds Shut It Down

Insiders told a business news network that the Santa Clara-based bank has historically paid employee bonuses on the second Friday of March.

San Jose Inside logo LOCAL NEWS
State Regulators Shut Down Silicon Valley Bank, FDIC Takes Control of Loans and Deposits

The FDIC move came less than two hours after a decision by tech funding giant SV Financial Group, parent company of Silicon Valley Bank, to halt trading shortly after markets opened this morning on NASDAQ – after its stock collapsed …

Image caption: Heavy storms prompted the state to extend tax deadlines for most California residents.
Storms Could Make Newsom’s Budget Problems Worse

Climate change driven storms are creating new problems for Gavin Newsom and California's budget process, which is already reeling from a projected $25 billion deficit that emerged after a $97 billion surplus disappeared.

Gilroy Dispatch logo LOCAL NEWS
Sunshine Bicycles closing up shop after nearly five decades

Sunshine Bicycles, which has helped generations of locals get rolling on two wheels, announced recently that it is closing up shop after 47 years in business. Steve Warner, who founded the First Street business with Norman Currie in 1976, said …

Featured

Owning homes is the primary way the middle class builds wealth, and an option no longer available to most Californians.
Is California’s Housing Crisis Making Inequality Worse?
California has some of the worst economic inequality in the United States. Is housing a cause? Could it be a cure?
Upcoming Meetings & Events
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Community and Economic Development Committee
Monday March 27 2023   1:30 PM

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Sp. Finance Committee Meeting
Tuesday April 4 2023   5:30 PM

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