Business News

NORTHERN CALIFORNIA – The Postal Service is reminding its customers that Post Offices nationwide will be open Christmas Eve, Tuesday, Dec. 24, and New Year’s Eve, Tuesday, Dec. 31.

However, most Post Offices will shorten retail lobby hours and close at noon on these dates. Regular mail delivery will be unaffected by the change.

Revised hours are posted at each Post Office and commercial customers are asked to check with their business mail entry units for specific information regarding holiday hours of operation.

Blue collection boxes having final collection times before 12 p.m. will not be affected by these changes. However, collection boxes with final collection times scheduled after that may be collected early.

Therefore, mail should be deposited into these mailboxes by 12 p.m. for early pickup Dec. 24 and Dec. 31.

Customers requiring postal services later on those days are encouraged to contact their local Post Office. Customers also may call 800-ASK-USPS for additional information.

Post Offices will be closed Dec. 25 and Jan. 1. Only Priority Mail Express will be delivered on Christmas Day and New Year’s Day.

All Post Offices will be open and regular mail delivery will resume Dec. 26 and Jan. 2.

The Postal Service is also reminding customers that if they are planning to ship or mail any holiday items they should now use Priority Mail Express by Dec. 23 to guarantee delivery by Dec. 24 and in some cases, Dec. 25.

Details: Written by: Editor; Published: 22 December 2014

LAKEPORT, Calif. – LakeWorks, locally created arts, crafts and products, will host two more events this December.

On Saturday, Dec. 13, from 1 to 4 p.m., Sandy Stillwell will offer a free class in memory bracelet making.

All materials are provided, and everyone will complete a bracelet during this fun class.

Talented local authors will be on hand at LakeWorks on Saturday, Dec. 20, between noon and 5 p.m., reading from and chatting about their works, and the writing and publishing process.

Authors will be available to sign your book purchases, while sales will go to authors on “Local Authors Afternoon.”

LakeWorks is located at 307 N. Main Street in Lakeport. For more information call 707-263-5787.

Details: Written by: Editor; Published: 10 December 2014

SACRAMENTO – State Controller John Chiang has released his monthly report covering California's cash balance, receipts and disbursements in November 2014.

Total revenues for the fifth month of Fiscal Year 2014-15 were $6.4 billion, coming in below Budget Act estimates by $154.7 million, or 2.3 percent.

For the fiscal year to date (July 1-November 30), total revenues reached $34.3 billion, beating estimates by $1 billion, or 3.1 percent.

“California is experiencing a solid post-Recession upswing, which has brightened the State’s revenue picture,” Chiang said. “However, while the timing is unpredictable, history reminds us that booming economic times are always followed by painful lows. It is therefore critical for the State to take advantage of this window to smartly manage long-term fiscal risks such as deferred spending on critical infrastructure and unfunded retiree health care.”

Income tax collections for the month of November came in $259.5 million, or 7.3 percent, below estimates. Sales taxes fell short of estimates by $103.3 million, or 3.7 percent, for the month.

Corporate tax revenues were $163.8 million, or 205.3 percent, above estimates.

As of November, the General Fund accumulated outstanding loans of $18.5 billion, which was down $2.7 billion from what the State expected to need by the end of November.

This total was financed by $15.7 billion of borrowing from internal state funds and $2.8 billion of borrowing from banks and other outside investors.

Details: Written by: Editor; Published: 10 December 2014

California state gas prices continue tumble as motorists reap in the benefits of filling up for less this holiday season.

This week state gas prices are registering at $2.97 on average for a gallon of unleaded gasoline – that’s $0.24 cheaper than prices since AAA Northern California’s latest monthly gas survey of Nov. 11.

Northern California’s average price for a gallon of regular unleaded gasoline on Dec. 9 was $2.94 – that’s $0.25 less than last month’s AAA reported price on Nov. 11.

The highest recorded price ever registered in the state of California was in October 2012, at $4.67 a gallon for unleaded regular.

The least expensive average price in Northern California can be found in Marysville, where regular unleaded gasoline is $2.75 per gallon.

Of all metro areas tracked by AAA in Northern California, Yreka continues to register the highest price at $3.17 per gallon of unleaded regular.

“As crude oil costs continue to slide, gas prices are poised to drop even further,” said Cynthia Harris, AAA Northern California spokesperson. “Consumers can expect to see the price at the pump tick even lower as we approach the New Year.”

Tuesday's national average was $2.66 per gallon and the average price for regular unleaded gasoline could test $2.50 by Christmas, and likely will fall to the lowest level since 2009.

The average price for retail gasoline historically declines from fall into winter due to a number of factors including decreased demand.

However, crude oil would have to fall by another $25 to $30 per barrel to cause the national average to drop below the $2 per gallon threshold this winter, which remains unlikely.

The price of oil accounts for approximately two-thirds of the price at the pump, and a $10 per barrel drop in the price of crude oil results in about a $0.25 drop in retail prices for motorists.

Global oil markets are still struggling to find a bottom since the Organization of Petroleum Exporting Countries’ (OPEC) decision to sustain production levels.

In an attempt to protect its share of the global market, Saudi Arabia, the second largest member of OPEC, continues the recent price cuts and offers barrels of oil at prices not seen in at least 14 years. Brent Crude and West Texas Intermediate reached their lowest levels in five years on Friday and this continues to mean cheaper gasoline at the pump for drivers.

At the close of formal trading on Friday, West Texas Intermediate (WTI) settled below $66 per barrel for the first time since 2009, down $0.97 cents at $65.83 per barrel.

To get the best mileage possible, AAA recommends keeping tires at the recommended pressure suggested by the vehicle manufacturer, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair.

The way you drive can also impact fuel economy. Smooth driving to avoid sudden stops and starts, combining trips and lightening a vehicle’s load also help to conserve gasoline.

AAA Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express, LLC.