Far West

ALAMEDA, Calif. — Legislation enacted to separate California’s veterans’ home loan bond program from the state’s general fund had an immediate ratings payoff.

ALAMEDA, Calif. — The California attorney general’s office appears to have junked a proposal by Democrats to raise $8 billion by securitizing revenue from bottle and can deposits.

WASHINGTON — The executives of United and Continental airlines yesterday assured members of the Senate Commerce, Science, and Transportation Committee that airline service would not be cut if their companies merge.

WASHINGTON — A Republican proposal that would have allowed the Build America Bond program to expire at the end of the year was defeated yesterday, as Senate lawmakers continued working toward passing legislation to extend several expiring tax breaks, including for BABs.

WASHINGTON — House and Senate conferees meeting to hammer out a financial regulatory reform bill appear to have reached an agreement that would allow the Municipal Securities Rulemaking Board to regulate financial advisers and other market intermediaries.

ALAMEDA, Calif. — Four unions representing California state employees agreed to contracts that require workers to contribute more to their pensions and provide less generous benefits to future hires, Gov. Arnold Schwarzenegger announced Wednesday afternoon.

WASHINGTON — The Securities and Exchange Commission is stepping up its enforcement efforts in the municipal securities market for the first time in more than a decade, with a staff of roughly 30 attorneys charged with investigating and trying muni and public pension fund cases.

House conferees meeting to hammer out compromise financial regulatory reform legislation potentially handed the Securities and Exchange Commission at least two significant victories yesterday: the authority to self-fund its operations without annual appropriations from Congress and the authority to register and regulate municipal financial advisers.

The nascent nationwide push for high-speed rail still needs a specific funding plan and a mix of federal, local and private sources are now being explored, U.S. Department of Transportation officials said yesterday.

WASHINGTON — The District of Columbia Council on Tuesday approved savings measures to increase reserve funds and reduce borrowing needs in an attempt to offset the drop in the district’s capital cushion resulting from the economic recession.