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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (189209)	3/7/2009 3:40:38 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 306849

Almost forgot about California. They haven't been in the news lately. Anyone know what's going on there? Did they can all those state employees? I did just read that they started releasing tax refund checks again. mercurynews.com ... All payments, including tax refunds and state obligations, will be made on time in March. Meanwhile, Gov. Arnold Schwarzenegger's office announced that Friday will be the last day the state shuts down all its offices, including branches of the Department of Motor Vehicles. Instead, the administration is allowing employees to take so-called self-directed furloughs, letting them take any two days off a month without pay. Chiang warned that the governor and lawmakers have yet to solve the state's budget imbalance. The controller says revenues continue to come in below expectations, and while the new budget dramatically reduces the state's shortfall to $630 million from $5.1 billion in the current fiscal year ending June 30, the state will still need to conduct short-term borrowing. "You can't be in a position where you grow dependent on borrowing," Chiang said in a conference call.