Economy

Back in 1861, the Pony Express, whose long western route ended right here in Sacramento, was put out of business by the development of the telegraph.  I can imagine a Pony Express rider muttering under his breath “dang technology.”  

Every day we hear of people losing their jobs to technology; some refer to technology as a “job killer” as if we should slow down technological advancement to protect jobs. Most recently, toll-takers on the Golden Gate Bridge were replaced by a digital toll system.  Postal workers are endangered because email and FedEx have assumed much of the workload. Travel agents, paralegals, sales people, meter-readers, telephone operators… all positions that either have been or will be drastically altered by technology. read more

The 2013 Regional Business Outlook featured business success stories and key business insight presentations for the upcoming year on a variety of topics including banking, technology, healthcare, housing, jobs and investing. The luncheon event included presentations by: Kelly Brothers, Partner, Genovese Burford & Brothers; Steve Fleming, President and CEO, River City Bank; Tom Schauer, CEO, TrustCC; Barry Azarcon, Principal, Edgewood Partners Insurance Center; Andrew Silverman, Regional Director, Northern California, Waypoint Homes; and Michael E. Rossi, Senior Advisor for Jobs and Business for Governor Brown.

The presentations by these industry experts yielded a vast amount of valuable information for business owners and professionals including an overview of many Federal and State Income Taxes, ways to protect your business from cybercrime, the current state of the healthcare industry and how the Affordable Care Act will affect businesses in 2013. Here are some of the key highlights from the event. read more

There is a trend developing which does not bode well for a balanced California economy: companies are leaving California and taking many blue-collar jobs with them. To understand this trend we must take a look not just at the companies that have left, but the types of jobs these companies were offering.

AT&T has been systematically moving jobs out of the state for years. Many of these jobs paid $40,000 to $60,000+ to workers, many of whom had never spent a day in college. 

Campbell Soup closed its Sacramento plant earlier this year laying off 700 workers. Some of these workers were earning $20-$25 per hour, often with a high school diploma being the extent of their education.

At Hostess, the union representing the bakers pushed too far and the company shut its doors, putting 18,000 people out of work nationwide. read more

River City Bank is proud of the men and women of the California Highway Patrol (CHP) who risk their lives every day to make our motorways safe. Their service makes it possible for us to travel safely and they provide assistance if we have an unanticipated delay.  Just as the CHP watches out for motorists, The California Association of Highway Patrolmen (CAHP) watches out for CHP officers and their families.

The CAHP is a non-profit organization which supports those who serve in the CHP in a variety of ways.  Led by the current CEO, Jon Hamm, the CAHP negotiates with the state of California’s Department of Human Resources for working conditions for CHP officers. In addition, the CAHP helps its members with labor relations, health benefits, legal representation for job-related issues, and an array of other membership services. read more

Early February, we hosted the 2012 Regional Business Outlook at the Hyatt Regency in Sacramento. More than 300 attendees, comprised of C-level executives and key business owners throughout the region, listened intently as master of ceremonies and Riv... read more