Business

Business

Can San Jose reduce its pension debt by issuing bonds?

As San Jose prepares its annual budget proposal, one factor looms larger than any other: Pensions. As of June 30, San Jose had $3.5 billion in unfunded liability—pension debt owed to city retirees that’s not covered by the return on investments made by the city’s two retirement plans. The city’s retirement plan for police and firefighters...

San Jose lawmaker asks for $1M to reopen small businesses

Small businesses lost millions over the course of the pandemic. One local lawmaker wants to make sure that doesn’t happen again. San Jose Councilmember Raul Peralez requested Wednesday that $1 million in federal funds go to support businesses as they reopen. Peralez, whose district includes downtown San Jose, spoke alongside members of the Greater Downtown...

San Jose business leader mulls ending political endorsements, new name

The Silicon Valley Organization’s newly-hired chief executive officer says the powerful business lobby should no longer endorse candidates. In the latest episode of The Podlight, CEO Derrick Seaver told host Bob Staedler that he’s looking to ending the organization’s tradition of political endorsements and changing SVO’s name back to a variation of its previous name,...

Do San Jose’s wage theft policies lack teeth?

San Jose has a long history of wage theft on construction projects throughout the city—what are officials doing to prevent it? A recent San José Spotlight investigation revealed numerous allegations of wage theft and unsafe working conditions on a public works project built last year intended to provide emergency shelter to the city’s homeless. Days after...

Will Topgolf revitalize San Jose’s ‘forgotten stepchild’ of Alviso?

Alviso, despite its quaint small-town charm, isn’t primed as a go-to destination as much as neighboring Willow Glen or downtown San Jose. One San Jose councilmember even called it the “forgotten stepchild” of the city. Topgolf San Jose, a gleaming multi-story golf entertainment center, looks to change that. “This is historic,” said Richard Santos, a longtime Alviso resident...

Santa Clara County to redistribute COVID-19 fines to small businesses

Santa Clara County will begin the process of returning thousands of dollars in COVID-19 safety violation fines back to small businesses. Supervisors voted unanimously Tuesday to create a grant program that redistributes money collected from pandemic-related health and safety violations back to local businesses. Once developed, the county is expected to partner with local financial...

Silicon Valley unemployment rate drops during slow recovery

A new jobs analysis from a regional nonprofit think tank suggests Silicon Valley is slowly recovering from the economy’s tumble last year. But the region has a long way to go before getting to pre-pandemic levels. The data analysis comes from Joint Venture Silicon Valley’s Institute for Regional Studies, the nonprofit’s research arm that publishes the Silicon...