Far West

WASHINGTON - In a ruling that could spell trouble for Wedbush Securities Inc., a municipal securities trader snagged a $3.5 million arbitration award from the firm, based on its failure to pay him incentive-based compensation.

Revenues in at least 28 states will exceed their fiscal 2011 budget forecasts as personal income and corporate taxes rebound, the Center on Budget Policies and Priorities said Monday.

A bill recently introduced in the House would create new tax-credit bonds to help state and local governments finance charging stations for plug-in electric cars.

The Internal Revenue Service closed a routine audit without changing the tax-exempt status of $147.5 million of auction-rate securities sold by the New Mexico Hospital Equipment Loan Council in May 2004.

SAN FRANCISCO — Washington Treasurer James McIntire announced a "Buy Washington Bonds" program Friday that will result in the state's first negotiated tax-exempt bond sale in decades.

WASHINGTON — The Governmental Accounting Standards Board unveiled a pension accounting and reporting proposal Friday that would fundamentally alter how cash-strapped states and localities report pension liabilities and pose challenges for them.

WASHINGTON — The House Transportation Committee chairman said Thursday he wants bond provisions in a bill he plans to introduce that would fund highway and transit programs for six years.

The Commodity Futures Trading Commission voted unanimously Thursday to approve a final rule that would significantly expand its powers to police fraud and manipulation in the swaps market.

SAN FRANCISCO — Standard & Poor's changed California's outlook to stable from negative Thursday, saying the state's cash flow appears unobstructed by its newly adopted budget.

SAN FRANCISCO — California Controller John Chiang's legislative push to increase oversight of local government finances in the wake of a scandal in the city of Bell has stalled in the face of political blowback.