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Vietnamese residents packed a local restaurant to speak with San Jose’s mayor about the biggest issue on their minds: small businesses. San Jose Mayor Matt Mahan and District 8 Councilmember Domingo Candelas hosted a town hall with residents Thursday afternoon. More than 50 attendees filled the seats at Nam Giao Restaurant in East San Jose....
Sunnyvale Starbucks workers feel exploited
Employees of a busy Starbucks store in Sunnyvale are working to unionize, joining a growing movement by workers at hundreds of the chain’s stores pushing back on what they call unfair and exploitative conditions. Most of the 24 partners—what Starbucks calls its employees—at the store near South Mary and Fremont avenues have signed onto a letter...
Congressman discusses why Silicon Valley Bank failed
Congressman Ro Khanna led efforts to ensure depositors of Silicon Valley Bank could withdraw their funds following the largest collapse of a U.S. financial institution since the 2008 mortgage meltdown. The Federal Deposit Insurance Corporation (FDIC) took control of Silicon Valley Bank last week after uncertainty about its solvency led to a run on the bank,...
Silicon Valley Bank collapse hits nonprofits
The abrupt closure of Silicon Valley Bank has hit dozens of local nonprofits. The immediate concern was making payroll. But nonprofit leaders also worried how they could continue providing direct services for the disenfranchised residents who rely on them. Thankfully, it hasn’t had a drastic impact, but it could’ve meant life or death for many families, said...
Silicon Valley Bank CEO leaves powerful board
Silicon Valley Bank President and CEO Greg Becker, who led the financial institution for more than a decade before its collapse on Friday, has resigned from the board of directors of Silicon Valley Leadership Group. Laura Wilkinson, spokesperson for Silicon Valley Leadership Group, an influential advocacy organization for tech businesses, told San José Spotlight on...
San Jose mayor’s budget targets homelessness, public safety
San Jose Mayor Matt Mahan’s top issues—homelessness, public safety, growth and blight—haven’t changed since he took office, but tackling them is going to require an aggressive approach. Mahan released his budget proposal this week, which outlines how he plans to allocate millions of dollars to address the city’s top problems. The proposal, which the San...
Dozens line up to pull money from Silicon Valley Bank
In the wake of the tumultuous shut down of Silicon Valley Bank and a weekend of uncertainty that has made national headlines, the local impact of the financial institution’s collapse in the tech-driven region was clear by the dozens of people who lined up outside the bank’s Santa Clara branch Monday. Everyone was hoping to...
San Jose mayor blasts ‘weak’ government response to Silicon Valley Bank collapse
In the aftermath of the collapse of Silicon Valley Bank, San Jose Mayor Matt Mahan is blasting the federal government’s approach to the crisis — calling it “weak” and “half-hearted.” U.S. Treasury Secretary Janet Yellen said during a Sunday morning broadcast of Face the Nation that the government could not commit to guaranteeing the deposits...
San Jose small businesses can still apply for COVID rent relief
San Jose has opened its next wave of grants for small businesses to pay off their rent debts accrued during the COVID-19 pandemic. Small business owners can now apply for grants of up to $15,000 to help pay off the back rent they owe to commercial landlords. San Jose opened applications for the grants last week,...
Proposed tax law threatens billions in San Jose funding
The San Jose City Council will decide whether to oppose a state ballot initiative Tuesday, which officials say would hobble the city’s ability to provide basic services. The initiative, dubbed the Taxpayer Protection and Government Accountability Act, would make it more difficult for state and local governments to pass new taxes and fees. If passed, local governments...