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Sacramento, California - The Governor today is offering the Legislature a compromise proposal on a state budget that responsibly addresses California’s remaining $15.2 billion budget shortfall and reforms our broken budget system. The Governor’s compromise proposal protects education funding, maintains important safety net programs, does not borrow funding from local government or transportation, and

Washington, DC - FDIC Chairman Sheila C. Bair today announced that IndyMac Federal Bank, FSB will implement a new program to systematically modify troubled mortgages. The program is designed to achieve affordable and sustainable mortgage payments for borrowers and increase the value of distressed mortgages by rehabilitating them into performing loans.

San Diego, California - Ten year-old Timyra-Joi of San Diego recently received the honor of being named winner by the Song of the Year songwriting contest. Song of the Year is an international songwriting contest supporting VH-1’s Save the Music Foundation. The Song of the Year judges are some of the biggest names in music including many Grammy Award winners.

The U.S. Environmental Protection Agency recently fined Imperial Toy LLC, located in North Hills, Calif., $66,180 for selling “Spray-A-String,” which contained R-22, an ozone-depleting substance. Selling or distributing products containing R-22 within the U.S. violates the Clean Air Act.