Articles Written by:    GEORGE AVALOS     

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Retailers in expansion mode

99¢ Only Stores is launching a Fremont store at a former Smart & Final site. Pet Food Express has opened in downtown Walnut Creek at a former site of the now-defunct Elephant Pharm retail chain. Costco Wholesale Corp. is opening a warehouse store in ...

From GEORGE AVALOS, Inside Bay Area,  23 Nov 2009
Related Topics: Costco Wholesale,  Bed Bath & Beyond Inc.,  Circuit City,  Michael Levy

State unemployment hits record high 12.5%

California's jobless rate rose to a post-Depression record high of 12.5 percent in October, while the jobless rate in the East Bay jumped to a near-record 11.5 percent, state labor officials reported Friday. But a faint sign emerged that some portions ...

From GEORGE AVALOS, Inside Bay Area,  20 Nov 2009

Ross posts record profits and affirms outlook, but shares plunge

Ross Stores Inc. said third-quarter profits zoomed 94 percent higher than the year before, earnings that topped Wall Street's expectations by a wide margin. Pleasanton-based Ross earned $105 million, or 84 cents a share, on sales of $1.74 billion. ...

From GEORGE AVALOS, Contra Costa Times,  19 Nov 2009
Related Topics: Ross Stores, Inc.

Innovative Bank sees losses grow

Kemp said. "We believe much of the job losses that are coming will occur at small businesses." Innovative Bank suffered a third-quarter loss of $3.4 million, more red ink than the East Bay community bank endured a year ago, a regulatory filing ...

From GEORGE AVALOS, Inside Bay Area,  18 Nov 2009
Related Topics: FDIC,  Small Business Administration,  Federal Deposit Insurance Corp.

Dixon land auctioned off in Magna horse-racing bankruptcy case

A judge has approved the sale of a 257-acre site in Dixon to a partnership controlled by horse racing executive Frank Stornach. The auction was part of the bankruptcy case involving Golden Gate Fields owner Magna Entertainment, whose chairman is ...

From GEORGE AVALOS, Contra Costa Times,  18 Nov 2009

Office complex falls into default

finished with it when they moved." A three-building office complex in Pleasanton has stumbled into a default on its $41 million mortgage, fallout from tenant departures and rising vacancies. Britannia Business Center II, located on Stoneridge Drive ...

From GEORGE AVALOS, Contra Costa Times,  17 Nov 2009
Related Topics: Chrysler,  Stoneridge, Inc.

Nightclub singing bankuruptcy blues

flaw in our business plan." FREMONT — The Saddle Rack, a stalwart of Bay Area nightlife with a country western flavor, has tumbled into bankruptcy, listing millions in debts. For 25 years, the Saddle Rack was a fixture in San Jose until it closed in 200 ...

From GEORGE AVALOS, Inside Bay Area,  16 Nov 2009

NUMMI auto factory closing: End of the line

Manufacturing Inc. plant, due to close after a quarter-century of operation. Barbara Lopez and husband Ron Lopez are longtime employees at the New United Motor Manufacturing, Inc. auto plant in Fremont, where they met. FREMONT — Ron Lopez will believe ...

From GEORGE AVALOS, Inside Bay Area,  16 Nov 2009
Related Topics: General Motors,  Santos, Ltd.

Lack of transfer rights makes NUMMI shutdown even harsher

Manufacturing Inc. plant, due to close after a quarter-century of operation. Barbara Lopez and husband Ron Lopez are longtime employees at the New United Motor Manufacturing, Inc. auto plant in Fremont, where they met. FREMONT — Ron Lopez will believe ...

From GEORGE AVALOS, Inside Bay Area,  13 Nov 2009
Related Topics: General Motors,  Santos, Ltd.

NUMMI-reliant firm will be closing, too

the shutdown of the NUMMI plant that's scheduled for April 1 of next year could just be the first of many such ripples through the reeling Bay Area economy. The upcoming shutdown of the NUMMI factory has claimed a fresh victim months before auto-making ...

From GEORGE AVALOS, Contra Costa Times,  12 Nov 2009

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