Tuesday, March 15, 2016

A Handbook for Change > [we can do without the revolutuin-thang]

"STREETFIGHT: Handbook for an Urban Revolution" by Janette Sadik-Khan and Seth Solomonow, was published March 8 by Viking, an imprint of Penguin Publishing Group, a division of Penguin Random House LLC.
Believe it or not, and this evoked a giggle from your MesaZona blogger, a review of this book on Greenbiz.com begins with"  I often tell people that if they want to save the planet, they should move to New York City . . . "
Yours truly lived there for 22+ years, happy to take a 20-block walk from the Upper Westside into Central Park where he worked on the side of a lake in the middle of Manhattan! One of my most favorite other cities is also mentioned,   
"Large cities like New York or Mexico City offer the best odds for sustainable growth as global populations increase rapidly. The collective energy of millions of people concentrated into high-rise buildings instead of being spread out over hundreds of rural and suburban miles is itself a reason why so many people are attracted — culturally, professionally, politically and practically — to cities. . ."
The books somewhat too academic, but it makes a few points: 
  • Despite the natural advantages of cities, political leaders haven’t fully capitalized on them. Cities don’t come with owners’ manuals. Within city transportation departments, most street design practices were standardized by traffic engineers long ago. In this way, cities have tended to operate in much the same way that their cities have sprawled: by doing things the way they’ve always been done.
  • Making cities a choice preferable to the suburbs cuts against a long-standing anti-urban bias in the United States based on the view that cities are dangerous, crowded and havens for crime.
  • Suburbs and exurbs not only force long-distance commuting in cars, but also require cars to be used for every trip.
  • The misreading of what is occurring in America isn’t confined to driving. While spending money to build roads is seen as a public investment, critics characterize public transportation as a wasteful welfare subsidy. The pervasive myth that public transportation riders are subsidized and that people who drive pay the full cost of their trips has never been less true than it is today.
Janette Sadik-Khan served as Commissioner of the New York City Department of Transportation (NYC DOT) from 2007-2013, where she implemented an ambitious program to improve safety, mobility and sustainability, and ensure a state of good repair on the city’s roads, bridges and ferries. At Bloomberg Associates, she works with mayors around the world to reimagine and redesign their cities with innovative projects that can be developed quickly and inexpensively.
Seth Solomonow was the chief media strategist for Janette Sadik-Khan and the New York City Transportation Department under Mayor Bloomberg. A graduate of Columbia University Graduate School of Journalism, Solomonow now works at Bloomberg Associates.

This Is A Revolution! NEW ERA > Data + Information = More Economic Value Than Trade In Global Goods

Digital globalization: The new era of global flows
By James Manyika, Susan Lund, Jacques Bughin, Jonathan Woetzel, Kalin Stamenov, and Dhruv Dhingra
Soaring flows of data and information now generate more economic value than the global goods trade.
Remarkably, digital flows—which were practically nonexistent just 15 years ago—now exert a larger impact on GDP growth than the centuries-old trade in goods, according to a new McKinsey Global Institute (MGI) report >> http://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-globalization-the-new-era-of-global-flows?#_=_.
And although this shift makes it possible for companies to reach international markets with less capital-intensive business models, it poses new risks and policy challenges as well.

Conventional wisdom says that globalization has stalled. But although the global goods trade has flattened and cross-border capital flows have declined sharply since 2008, globalization is not heading into reverse. Rather, it is entering a new phase defined by soaring flows of data and information.
[see infographic to the right]



PAY ATTENTION: The world is more connected than ever, but the nature of its connections has changed in a fundamental way. The amount of cross-border bandwidth that is used has grown 45 times larger since 2005. It is projected to increase by an additional nine times over the next five years as flows of information, searches, communication, video, transactions, and intracompany traffic continue to surge. In addition to transmitting valuable streams of information and ideas in their own right, data flows enable the movement of goods, services, finance, and people. Virtually every type of cross-border transaction now has a digital component.
Trade was once largely confined to advanced economies and their large multinational companies. Today, a more digital form of globalization has opened the door to developing countries, to small companies and start-ups, and to billions of individuals.

Monday, March 14, 2016

Meet "Jonathan Pie" News Spoof + Satire + Brutally Honest Views On The World of Politics

A character for sure as a UK News reporter… Warning Foul-Language Run-Amuck and Uncensored.
The world is waking up to Jonathan Pie, a spoof reporter created by British actor and comedian Tom Walker. The Pie character’s reports on political problems in an alternative way have become very popular with thousands of viewers on YouTube.
Tom Walker puts it down to the public recognizing an element of truth in his jokes.
 ; ; ;  [wink] you can only come to an opinion if you are well-informed, and that is the media’s job – to inform. I think Jonathan Pie seems to get frustrated - the fact that I feel that he feels he doesn’t always get the opportunity to do that. There is quite often an agenda rather than just telling the news, telling facts.

Funny 'cos it's true

Here's another 
 -enjoy!
 

Say What? We Wanted To Focus On Downtown + Its Funky Offerings.


Those are the words Michelle Streeter used in an article by East Valley Tribune reporter Shelley Ridenour yesterday to describe a 7-month mobile advertising campaign by Millennial Media [acquired by AOL, a subsidiary of Verizon, for $248 Million on October 23, 2015] who was hired by Visit Mesa, the tourism marketing arm for the city, to specifically target a demographic group called millennials to lure them here downtown for "funky offerings".
That's slightly off the mark when advertising industry publication AdAge predicts that in 2016, marketing and communications professionals will stop targeting millennials as one demographic and focus on reaching the younger consumers based on their passions, according to a study released on Nov 17, 2015 by Hotwire PR.
Why focus on millennials as one population
group for this ad campaign-buy [price not disclosed] when you can easily see in the infographic from the U.S. Census Bureau from July 2014 that there's almost an even spread from the ages of 25-65+?
That's more to the point than what the article reports "Millennials, described as people born in the 1980s and 1990s and sometimes called generation Y, now represent a larger percentage of the American population than generation X, their predecessors."

[Blogger's Note: More than 60% of internet usage occurs on a mobile device, with the millennial generation accounting for the largest demographic accessing the web via their smart phone or tablet. According to Nielsen, more than 85% of millennials in the U.S. own smartphones and they touch them an average of 45 times per day.]
Mark Garcia, VisitMesa CEO and President [whose wife Cori Garcia was recently "lured away to work for the City of Gilbert], is quoted as saying, "Visit Mesa officials want people to see that downtown Mesa is a new place to play," As noted in a post here early in December of last year, the advertising featured a 3:12 video. Streeter is quoted in yesterday's article saying "early results show it’s working."



A check just now turned up the result from YouTube that the video Our Downtown is Your Playground received 1,910 views after it was uploaded there on January 26, 2016 with only 20 'likes' to date. . .
A good return on investment - who's to say?

Garcia also says, "We anticipated that light rail would bring in new customers but it’s the unique businesses that have relocated or opened here that have truly lured in a new visitor.” He deservedly gives credit to the individual Main Street entrepreneurs who have taken the risk and made the investment to open new businesses [Power Pill, Lulubell's, Desert Eagle Brewery, Smith-O-Later Custom Bake Shop, Volstead Public House to name a few] here in the New Urban DTMesa - partnering with established businesses to promote Pop-Up events like the first Mesa Music Festival and the Southeast MakerFest, for example as well as regular weekly and monthly street attractions MACFest, Motorcycles on Main, 2nd Friday and 3rd Friday Night's Out. All these attract a broader spectrum that includes millennial. Established city-owned institutions like Mesa Arts Center, museums and other venues no doubt attract a greater share of visitors in all generations.
When talking about results what works for most people are numbers and data. Instead what's reported in the article are additional quotes like this:
In December, the top mobile landing pages on the Visit Mesa website were four directly connected to the millennial campaign. That means the millennial ads drew in the most mobile activity to the website. “Right now it is our top mobile referral site,” she said. “We’re seeing incredible results, and we’re realizing how much more people use their phones.”
Top Mobile Landing Pages: 1 2 3 4 [activity numbers?]
Actual Results for top mobile referral site: # hits ______

Institutional Investors Are Dumping Millennial Media Inc (NYSE:MM) by March 8, 2016
Millennial Media, Inc. is an independent mobile advertising marketplace delivering services and products to advertisers and developers. The company has a market cap of $249.14 million. The Firm offers advertisers a suite of solutions that allow them to reach and connect with the target audiences across screens, from smartphones, tablets and other mobile devices to PCs. It currently has negative earnings.

Sunday, March 13, 2016

50 Pages > You Might Have Missed It! The Minutes Are Out

AUDIT, FINANCE & ENTERPRISE COMMITTEE  January 21, 2016
[Reproduced here partially out of 50 pages, with attenuation of  infographics and appendices that you can access for viewing with link provided]
. . . Just to show you how easily IT IS NOT . . .complicated issues
- there were some issues raised about what Mesa Channel 11 covers or not
- the City's bond programs ... per capita debt for each resident =$3,386
- the City’s Comprehensive Annual Financial Report (CAFR) and Single Audit Reports for Fiscal Year Ended June 30, 2015. 

The Audit, Finance & Enterprise Committee of the City of Mesa met in the lower level meeting room of the Council Chambers, 57 East 1st Street, on January 21, 2016, at 0 7:52 .

Please note the approval of these minutes is on the agenda for the entire Mesa City Council tomorrow in a late afternoon study session @ 5:15
File #: 16-0312
Find it here >> http://mesa.legistar.com/LegislationDetail.aspx?ID=2599281&GUID=04E636C8-3F08-4818-AEDD-992BC7B06DD1                                

Agenda for City Council Meeting 14 March 2016 - please note an important change in putting items on meeting agendas. Any one councilmember can put an item on the agenda. It was previously three. 

1.Review items on the agenda for the March 14, 2016 regular Council meeting.
2. Presentations/Action Items:
  • 16-0250 Hear a presentation and discuss the 2016 State Legislative update.2-a
3. Acknowledge receipt of minutes of various boards and committees.
  • 16-0311 Public Safety Committee meeting held on January 21, 2016.3-a
  • 16-0312 Audit, Finance and Enterprise Committee meeting held on January 21, 2016.3-b
  • 16-0310 Judicial Advisory Board meeting held on February 1, 2016.3-c
  • 16-0276 Economic Development Advisory Board meeting held on February 2, 2016
 
(A) The City Manager will prepare and distribute all City Council meeting agendas. The City Manager will place such items on the agenda, and in such order, as necessary to accomplish the business of the City. (3213)
(B) The City Manager will also place an item on the agenda at the request of the Mayor or three Councilmembers  any Councilmember.(3213)
(C) At the request of any Councilmember, an item on a Council consent agenda will be removed from the consent portion of the agenda and will be separately considered. (3213)


2-a. Hear a presentation and discuss Mesa Channel 11’s budget
Public Information and Communications Director Steve Wright displayed a PowerPoint presentation relating to the background and services provided by Mesa Channel 11. (See Attachment 1) Mr. Wright provided a brief overview of the history of Government channel programming and stated that Mesa Channel 11 currently has three full-time employees (FTEs) on staff. (See Pages 2 and 3 of Attachment 1)  
Mr. Wright explained that the official name for the division is Broadcast and Multimedia Services, due to the fact that it encompasses much more than just Government channel programming. He illustrated the detailed services provided by the division, which are categorized under HDTV, Digital/Social Media, and Audio/Visual. (See Page 4 of Attachment 1) 
Mr. Wright displayed a chart of the production process for the program Covering Mesa and emphasized that a 3-minute package takes approximately 6-12 hours to produce. He provided a list of all of the programming produced in 2015. (See Pages 5 through 7 of Attachment 1)  
Mr. Wright reported that approximately 30-40 additional requests are received annually for outside programming, such as the following: 
Audit, Finance & Enterprise Committee January 21, 2016 Page 2  
• Weekend or evening events • Neighborhood specific programming outside of the usual news conferences, groundbreakings and grand openings • Departmental requests for internal use • Departmental requests promoting new and existing services/programs 
Mr. Wright advised that current staff lacks the capacity to take on the additional requests and must often rely on hired freelancers. He suggested that a budget solution may be to increase the freelance budget by $50,000 annually or move one part-time benefitted position to a full-time position for a cost of $36,000.  
In response to a question from Committeemember Finter related to decentralized PIO’s, Mr. Wright replied that staff meets weekly with marketing staff and PIO’s to coordinate the needs of Channel 11.  
Committeemember Finter suggested that the freelance budget assign broader topics to the individual departments’ marketing staff and PIO’s to assist with their professional growth, as well as ease the workload and break down cultural barriers. 
Chairman Glover concurred with Committeemember Finter and advised that it may be worthwhile to investigate the possibility of moving all PIO’s under the direction of Mesa Channel 11, in order to determine the feasibility prior to budget discussions.   Committeemember Thompson thanked Mr. Wright and asked what it would take to cover all after-hour events attended by Council that are currently being overlooked.   Mr. Wright responded that it would need to be part of the budget discussions, since the issues are with staffing levels and Channel 11 resources.  
Chairman Glover noted that it was the consensus of the Committee that staff return with an organizational and cost-benefit analysis related to having all PIO’s under Mesa Channel 11, in order to assist with budget discussions. 
2-b. Hear a presentation and discuss the City’s bond program and remaining bond authorizations
Chief Financial Officer Mike Kennington displayed a PowerPoint presentation updating the bond program. (See Attachment 2) He introduced Ryan Wimmer, Deputy Director of the Office of Management and Budget, who was present to answer any questions boardmembers may have. 
Mr. Kennington informed the Committee that the General Obligation (GO) Bonds have $337 million of outstanding principal with a high investment grade rating. He stated that one of the two metrics that staff looks at in the Debt Program is debt limitation, which is broken down into two buckets as follows: 
• Outstanding GO debt for water, wastewater, artificial light, parks and recreational facilities, public safety, and transportation, which may not exceed 20% of the City’s net assessed valuation, and • Outstanding GO debt for general municipal purposes, which may not exceed an additional 6% of the City’s net assessed valuation.
Audit, Finance & Enterprise Committee January 21, 2016 Page 3  
Mr. Kennington, in addition, reported that Mesa is currently at 46% of its debt capacity. The second metric, he added, is the debt burden and Mesa’s debt per capita is $3,389. (See Pages 2 through 4 of Attachment 2) 
Mr. Kennington proceeded by saying that the Utility Systems Revenue Bonds is debt service that is secured by and repaid from revenues of the utility systems. He reported that the principal outstanding for these bonds is $1,007,455,000 and displayed a graph of the debt expectations after the restructure and issue of authorized bonds.  
Mr. Kennington continued his presentation by reviewing the 2015 Bond activity. He reported that Mesa retired the outstanding Highway Project Advancement Notes (HPAN) bond principal of $77.8 million, as well as refunding Highway User Revenue Fund (HURF) bonds for a $1.8 million savings.  
Mr. Kennington explained that staff has explored ways to spread out the debt service in anticipation of the spike in 2017/2018 that is a result of the 2004 refunding. He stated that IRS law states that a tax-exempt bond can only be refunded once; therefore, a taxable bond must now be issued at a cost of $1.3 million. He reported that staff has identified $1.7 million in other bonds to cover that cost. He added that approximately $4.6 million in other savings has been identified from normal Utility Revenue Bond refunding, as well as retiring Utility Revenue Bonds early. He provided an estimated timeline for bond refunding activity. (See Page 7 of Attachment 2) 
Mr. Kennington indicated that $100 million was estimated in the normal New Money Bond activity in 2016, from both the GO Bond issuance and the Utility Revenue Bond issuance. He provided an estimated timeline for New Money Bonds. (See Page 8 of Attachment 2) 
In response to a question from Committeemember Thompson, Mr. Kennington explained that $60 million of the Utility Systems Revenue Bonds is planned but unissued, mostly from the 2014 election.  
Mr. Wimmer added that staff would provide a list of the outstanding Capital Improvement Program (CIP) projects, including how many are funded through the various bond authorizations. 
In response to a question from Chairman Glover, Mr. Wimmer clarified that GO Bonds are funded through the City’s secondary property tax and are instituted the year following the election, in order to be clear in the minds of the voters. He noted that the property tax revenue may only be used to pay for the GO Bond debt. He explained that the levy, as well as impact fee revenue and court construction fee revenue is first used to pay for the debt on projects that were authorized since 2008. He added that any remaining ‘temporary’ excess is used to cover existing debt from prior authorizations until the debt service for new authorizations catches up to the levy. 
Mr. Kennington explained that Mesa sells bonds annually and if there is temporary excess capacity in the secondary levy, then staff is able to pay down the principal in order to save taxpayers interest costs over time.  
Audit, Finance & Enterprise Committee January 21, 2016 Page 4  
In response to a question from Chairman Glover, Mr. Kennington confirmed that the City paid approximately $5 million of debt last year in order to pay off principal this year thanks to temporary excess capacity. 
Committeemember Finter recalled that when he joined the Council, Mesa had the lowest debt compared to other cities in the metro area and now it is half way up the chart. He followed by saying that, although not a bad thing, debt affects the City’s ratings and impacts future Councils. He explained that some debt is good and great things are happening in Mesa, but suggested that all projects go through a filtering process to analyze any future impact before decisions are made. He thanked staff for always making the effort to save money when possible.  
Chairman Glover thanked staff for the presentation. 
2-c. Hear a presentation, discuss, and provide a recommendation on the City’s Comprehensive Annual Financial Report (CAFR) and Single Audit Reports for Fiscal Year Ended June 30, 2015. 
Finance Director Irma Ashworth introduced Sandy Cronstrom with CliftonLarsonAllen, LLP, the City’s external audit firm, who was prepared to address the Committee.   Ms. Ashworth displayed a PowerPoint presentation (See Attachment 3) and provided a brief overview of the Fiscal Year 2015 Comprehensive Annual Financial Report (CAFR).  She stated that the report provides a detailed presentation of the City’s financial and economic condition that includes an unmodified report, which is a clean audit opinion that meets the Generally Accepted Accounting Principles (GAAP) and complies with the Government Accounting Standards Board (GASB). She summarized the new GASB Statement No. 68 and its implementation, which requires government entities to record their pension liabilities on their financial statements.  
Ms. Ashworth reported that the City’s total assets were approximately $3.8 billion, with the largest portion being capital assets (buildings, building improvements and infrastructure). She noted that the second largest portion is Cash & Investments, used for ongoing projects. She reviewed the cash balances and highlighted that the cash amount of $121 million seems high, however that includes $78 million received to pay-off Highway Project Advancement Notes (HPAN) in August 2015. (See Page 5 of Attachment 3)   Ms. Ashworth provided an overview of the total liabilities of approximately $3 billion and highlighted that the amount for pension liabilities was now recorded. She displayed a chart illustrating the Citywide Long-Term Debt and noted that the amount listed for HPAN notes was paid in August 2015. (See Pages 6 and 7 of Attachment 3) 
Ms. Ashworth illustrated a graph of the Revenue by Source made up of only governmental activities. (See Page 8 of Attachment 3) She commented that the majority of the large revenue funds include taxes, unrestricted inter-governmental, and transfer funds.  
In response to a question from Chairman Glover, Office of Management and Budget Director Candace Cannistraro explained that she could provide all of the information regarding debt service by issuance date after the meeting, as she did not have that information with her at this time. 
Audit, Finance & Enterprise Committee January 21, 2016 Page 5  
Ms. Ashworth continued with her presentation and displayed a chart of Functional Expenses that illustrates how the expenses are divided for the government activities funds. She indicated that approximately half of the expenditures are Public Safety expenses with General Governmental in second place.  
Committeemember Finter commented that the CAFR is a great process and the outside auditor provides a good check and balance.  
Chairman Glover thanked staff for the presentation. 
It was moved by Committeemember Finter, seconded by Committeemember Thompson, to recommend that the City’s Comprehensive Annual Financial Report (CAFR) and Single Audit Reports for Fiscal Year Ended June 30, 2015, be forwarded on to the full Council for consideration.            Carried unanimously.  
2-d. Hear a presentation, discuss, and provide a recommendation on multi-year Solid Waste Service Agreement Discounts for Business and Commercial Establishments. 
Environmental Management and Sustainability Department Director Scott Bouchie displayed a PowerPoint presentation (See Attachment 4) as it relates to providing discounts for multi-year solid waste service agreements.  
Mr. Bouchie indicated that new legislation allows apartment complexes of five or more units to be open to commercial competition. He added that the Mesa ordinance was updated to meet such compliance, which led to discussions on how the City can remain competitive within the commercial market. He reported that the Solid Waste Management division currently serves 2500 commercial accounts that provide approximately $5 million in revenue. He added that the change in state law allows for an additional 250 accounts, or $1.5 million in revenue for apartment complexes.  
Mr. Bouchie requested direction from the Committee relative to offering business customers a 2% cumulative discount each year for signing a multi-year service agreement. He clarified that a one-year agreement would offer a 2% discount, a two-year agreement would offer a 4% discount, up to a three-year agreement offering a 6% discount. He emphasized that service agreements would offer incentives to the customers while offering stability to the City, allowing staff the ability to project future revenues and expenditures.  
. In response to a question from Committeemember Thompson, Mr. Bouchie explained that staff programs commercial accounts with a 10% profit margin in order to reach the target range after the potential 6% discount. He added that if an account were lost, approximately 25% of its associated profit would be lost.    Committeemember Finter supported the recommendation and stated that the customer wins in the end.  
Chairman Glover voiced his support for the discounted service agreements as it should keep Mesa competitive with the private market.  
Audit, Finance & Enterprise Committee January 21, 2016 Page 6  
It was moved by Committeemember Thompson, seconded by Committeemember Finter, to recommend that the multi-year Solid Waste Service Agreement Discounts for Business and Commercial Establishments be forwarded on to the full Council for consideration. 
           Carried unanimously.  
2-e. Hear a presentation, discuss, and provide a recommendation on a proposed amendment to the Mesa City Code, Section 1-5-7 regarding reducing the number of Councilmembers required to place an item on an agenda.  

 Glover displayed a PowerPoint presentation (See Attachment 5) regarding the proposed amendment to the Mesa City Code Section 1-5-7. He explained that he initiated this amendment in an effort to be more in line with the original intent of the City Charter, which offers every Councilmember an equal vote with the Mayor.  
Committeemember Finter stated that Phoenix allows Councilmembers to add items to the agenda and he feels that it is more advantageous to the district system. He voiced his support for the amendment. 
It was moved by Committeemember Thompson, seconded by Committeemember Finter, to recommend that the proposed amendment to the Mesa City Code, Section 1-5-7 regarding reducing the number of Councilmembers required to place an item on an agenda be forwarded on to the full Council for consideration.  

DYK? Killing The Cameras Might Cost Jobs in Mesa @ American Traffic Solutions

Are people in Arizona and the U.S. getting pissed about surveillance?
Is it about safety or profits?
According to a report on March 10, 2016 8:39 pm  •   the days for photo radar on state roads may be numbered.

SF Fed Reserve President John Williams / MythBusters: Monetary Policy Edition.


"Groovy times" are back - or if you, dear readers remember the other lyrics of that song "Slow down you move too fast/ you gotta make the moments last/ lookin' for fun and feeling groovy" - that's just one phrase cherry-picked from a popular song.
John Williams takes off from there to address a number of topics in a recent speech.
Readers of this blog do not get the news "spoon-fed" - you need to look at the menu and decide to dig into and connect with the links provided.
How about an appetizer to whet your appetite? . . . things are looking good for employment in the services industry [government is getting bigger] while other indicators—workers who are part-time for economic reasons or the labor force participation rate, for example— have been the focus of continued concern.
Other aspects of the current discussion—and worry—about the economy and monetary policy that should be seen in context.
"The narrative of the punditry can sound alarming, and can give a false impression of what motivates monetary policymakers. Since I’m about to talk about motivations, it’s probably a good time to inject the standard disclaimer that the views expressed today are mine alone and do not necessarily reflect those of others in the Federal Reserve System."
Just one detail about employment is that more people are quitting their jobs, having confidence they can find another job, according to John Williams, while some might ask if that's the reason, or not. It might be something like from the accompanying image.
Here's the link to the John Williams whole speech >>
The Right Profile: Economic Drivers and the Outlook
a speech on 18 Feb 2016

The San Francisco Federal Reserve Bank is one of 12 districts in the U.S.
According to a report by Jana Randow   in Bloomberg Business News on 11 March 2016 @ 10:06 AM MST  
All Fed Districts Are Equal? Not When It Comes to Job Growth
District size matters, if data from San Francisco to Minneapolis are any guide
"When John Williams spoke about employment last month, the San Francisco Fed president proclaimed the return of "groovy times." He sees joblessness in the U.S. coming down to about 4.5 percent this year in a sign that the labor market has fully recovered from the Great Recession and its aftermath.
He has reason to be optimistic. In his district, payrolls have increased more than 5 percent in the past two years, about 1 percentage point more than at the national level, according to data compiled by the Dallas Fed. San Francisco is also the Fed's biggest district — home to almost one in five jobs in the U.S. at the end of 2015."
if you're John Williams, you're sitting in San Francisco and employment is growing quickly, you may be more optimistic generally about the nation than someone somewhere else," commented Raymond Stone, managing director at Stone & McCarthy Research Associates in Princeton, New Jersey.
[blogger's note" just to put things into context]



 

Zelensky Calls for a European Army as He Slams EU Leaders’ Response

      Jan 23, 2026 During the EU Summit yesterday, the EU leaders ...