Reckoning day postponed.The financially troubled city of Gardena has won another reprieve from its major creditor. The South Bay city, which lost money on an expensive foray into Verb 1. foray into - enter someone else's territory and take spoils; "The pirates raided the coastal villages regularly" raid encroach upon, intrude on, obtrude upon, invade - to intrude upon, infringe, encroach on, violate; "This new colleague invades my the liability insurance business, faced a May 31 deadline to pay its creditors, chiefly Sumitomo Bank of Japan. That deadline to pay $26 million in bond debt had already been extended from last Dec. 31. Earlier this month, Sumitomo agreed to roll over the debt for another 90 days, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Gardena City Manager Mitch Lansdell. Meanwhile, the city has yet to form a plan to repay Sumitomo. "We're trying to piece together a bit here and a bit there, but we're not there yet," Lansdell said. Staff reporter Howard Fine Howard Fine (November 28, 1958) is an American acting teacher, the founder of the Howard Fine Acting Studio in Hollywood, CA, and also a theatre director. Early Life Howard Fine was born on November 28, 1958 in Providence, Rhode Island. He is the youngest of 5 children. can be reached by phone at (323) 549-5225, ext. 227, or by e-mail at hfine@labusinessjournal.com. Targeted Bills California Chamber of Commerce labels these proposals "job killers." * AB 6 (Wilma Chan Wilma Chan is a politician in California, United States. Chan served as the California Assembly Majority Leader from 2002-2004, the first woman and the first Asian American to hold the position. She also served as Assembly Majority Whip from 2001-2002. Chan is a Democrat. , D-Oakland) Increases tax rates on upper-income earners * AB 9 (Joe Coto Assemblymember Joe Coto (D- San Jose) is currently serving his second term in the California Assembly. His agenda in the Legislature continues to focus on making California’s schools the best in the nation. , D-San Jose) Extends sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. to currently-exempt services like accounting, legal and computer services * AB 1644 (Hector de la Torte, D-South Gate) Raises taxes on subchapter "S" corporations and eliminates other business tax credits * SB 17 (Martha Escutia, D-Norwalk) Increases commercial property taxes when more than 50 percent of ownership changes hands * SB 109 (Deborah Ortiz, D-Sacramento) Increases penalties for certain types of air pollution violations * SB 593 (Richard Alarcon, D-Van Buys) imposes tax on employers whose workers and/or families enroll in state health care programs * SB 760 (Alan Lowenthal, D-Long Beach) Adds $30 fee for every container going through the state's ports |
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