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No Ice Cream After Dinner

By Jim Erwin | 09/11/08

Now that I've had a chance to reflect on some of the local media writings regarding my appointment as Chief of Staff for Supervisor-Elect Neil Derry, I will share with you some of my thoughts.   The writings of the local press in my opinion, kind of fall in the realm of "tantrum". Like a kid being told "No ice cream after dinner", and the child then falling to the floor to kick and scream.   I had the experience of chatting with Lauren... read more »

Financial System Debacle

By Jim Erwin | 09/11/08

This article is my opinion and in no way should be construed as investment advice.   Back on July 15 when the U.S. Treasury and Federal Reserve intervened in the financial markets in a feable attempt to restore confidence in a system in meltdown I was appauled. Free markets is something this country was based upon and when government action makes things worse it turns my stomach.   Here we take witness to a Republican administration... read more »

San Bernardino County Foreclosures Skyrocket

By Jim Erwin | 09/11/07

County figures indicate the meltdown in the San Bernardino County housing market is continuing to unfold. Data from the Office of the Assessor which flags title transfers on foreclosure and distress sale properties (otherwise known as "Bad Sales") paints a dark picture for the area. Distress sale property transactions for the period 1/1/07 to 8/20/07 jumped a shocking 744.2% to 3,301. The number compares to just 391 in 2006. The real... read more »

Real Estate Meltdown Escalating: Fremont General Downgraded

By Jim Erwin | 08/28/07

California based thrift operator Fremont General Corporation was downgraded this morning by Moody's Investor's Service to a rating of Caa2 from Ba3, a lower junk rating due to low capital levels and increased uncertainty as to whether the company can meet its ongoing obligations. Ratings for long-term deposits at Fremont Investment and Loan, which operates a branch in Redlands, was dropped from B2 to B1. Fremont was a player in the sub-prime... read more »

Fed Rate Cut: Too Little, Too Late; Housing Meltdown Driving Economic Downturn

By Jim Erwin | 08/25/07

The cut in the symbolic "Discount Rate" by the Federal Reserve Open Market Committee one week ago Friday was nothing more than a psychological move in a weak attempt to alter investor psychology. Even as we speak the Fed continues to pour liquidity into the banking system like a drunken sailor in an effort to prop up the mortgage banking system. Yesterday, the Fed purchased $18 billion of fixed income securities alone indicating... read more »

County and Cities to Face Tough Choices Ahead

By Jim Erwin | 05/17/07

Rising fuel prices and a falling real estate market appear to be taking their toll on consumers. Something that we knew was coming but didn't want to admit it. Today alone, wholesale futures for unleaded gasoline for June delivery gained $0.10 per gallon and a barrel of Light Sweet Texas Intermediate Crude Oil rose $1.99. Energy prices are acting like the energizer bunny, they just keep going and going. As energy prices climb, discretionary... read more »

Smith Receives Key Law Enforcement Endorsement

By Jim Erwin | 04/05/07

State Assembly candidate Bob Smith is the recipient of a major law enforcement endorsement this week. Smith, a retired deputy sheriff and current staffer to Former County Supervisor turned Assessor Bill Postmus, who is seeking to replace Assemblyman Bill Maze to represent the Republican-controlled 34th Assembly District received the endorsement of the San Bernardino County Safety Employees' Benefit Association (SEBA) yesterday.  Maze is... read more »