Tuesday, November 18, 2008

Morning News Round-up -- 11.18.08: Yahoooooo!

In case you missed a very busy afternoon yesterday on Watch Dog, here is what you missed:
And today's news...

The chief/founding Yahoo is leaving town again…Jerry Yang, Yahoo’s CEO since June 2007, emailed the other Yahoos that the “…next wave of mission-critical decisions facing the company” would be made by someone else. Does that mean Carl Icahn and Microsoft are back on the table? The Merc invites you to voice your opinion

Are Lew Wolff’s plans for a South Bay sports mega-tropolis to be torpedoed by the disastrous economy? Voicing something resembling support San Jose Mayor Chuck Reed said, "Lew is a very creative, resourceful guy, and he'll probably figure something out." Matt Holliday hopes that Lew Wolff is creative and resourceful...he's got another year on his contract.

San Joseans aren’t the only ones wondering if the economy will tank plans for a new sports venue. Santa Clarans are wondering how it will affect the 49ers' plans. Santa Clara Deputy City Manager Carol McCarthy said the Mission City is re-examining its financial picture in the face of another State grab at Redevelopment money and an uncertain future for Yahoo!.

In what might be considered the silver lining for our economic black cloud, the Santa Clara Valley Water District Board of Directors is reviewing expenses. In a comparison with other water districts, the SCVWD spends a lot of money for employee on travel. However, since travel amounts to 0.2% of the travel budget – maybe that’s not the first place to look for cost cutting? 28 year Board member Sig Sanchez gets the Most Obvious Quote of the Day award: "We've got to tighten up our belt like everybody else."

The San Jose Redevelopment Agency presented plans to invest $1.1 billion to grow downtown and green-tech businesses. San Jose residents will hear all about it at tonight’s lightening fueled Council meeting. Plans include a green-tech incubator because, "High-tech is a bit of a cushion," Redevelopment Chief Harry Mavrogenes said. That's why the agency has targeted items that would attract "green" industries and other tech firms, "to bring more jobs in." Councilmember Sam Liccardo isn’t as hopeful saying, "I'm really concerned, and I suspect we may have to re-examine some of these assumptions in a week or two."

Development ceases in Morgan Hill creating need for drastic budget cuts. City Manager Ed Tewes reported, "We assumed a slowdown in new home production, but we did not predict a complete cessation." Mayor Steve Tate adds, "Our planning and building departments are just out of work...There's nothing going on construction-wise."

San Jose Revealed sounds off on the Vice Mayor's spot (they handicap that it will be Chirco), the recall (they seem to think it will fail), and the Mike Honda story.

Single Gal at San Jose Inside looks at Campbell as the center of Silicon Valley hipness...really?

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