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Comerica Bank’s California Index Lower in August

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Comerica Bank’s California Index Lower in August


DALLAS, Nov. 9, 2022 /PRNewswire/ — The Comerica California Financial Exercise Index declined at a 2.8% annualized price within the three months by means of August. The Index has slowed from the sturdy will increase within the first half of the yr. The index was nonetheless up 6.2% from a year-ago in August.

Three of the 9 parts that represent the Index rose in August. California continues to get pleasure from sturdy employment features. Electrical energy consumption by California’s industrial sector rebounded within the month, indicating a pickup in industrial exercise. So did housing begins within the Golden State.

Nonetheless, home costs fell in California for a 3rd consecutive month in August. Housing affordability is a longstanding downside in California and has gotten worse as first dwelling costs after which rates of interest surged post-pandemic. Declines in home costs and weak residential funding are probably going ahead. As well as, air passenger visitors and resort occupancies present the journey trade misplaced momentum in August, after notable features within the second quarter.

California’s economic system is predicted to proceed to lose momentum within the coming months, because it faces quite a lot of headwinds, together with a weakening housing sector, rising rates of interest, excessive inflation, and slowing shopper spending. The slowdown within the tech sector, a key trade of the Californian economic system, is an extra detrimental for the Golden State’s economic system.

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The Comerica California Financial Exercise Index is a month-to-month composite indicator of state financial exercise. The Index supplies a wholistic advance view of the state of California’s economic system, utilizing financial knowledge which can be accessible about one quarter sooner than actual GDP is launched. The index is comprised of 9 parts: Nonfarm payroll employment, persevering with claims for unemployment insurance coverage, housing begins, home costs, industrial electrical energy gross sales, overseas commerce, enplanements, resort occupancy, and state revenues. All knowledge are seasonally adjusted with nominal values transformed to fixed greenback values as applicable. To filter out month-to-month volatility within the index parts, the index is calculated from the three-month transferring averages of its parts. Values for a minority of parts are projected from the prior months’ launch as a result of timing of information releases.

Comerica Financial institution is a subsidiary of Comerica Included (NYSE: CMA), a monetary companies firm headquartered in Dallas, Texas, and strategically aligned by three enterprise segments: The Industrial Financial institution, The Retail Financial institution and Wealth Administration. Comerica focuses on relationships, and serving to folks and companies achieve success. Along with Texas, Comerica Financial institution areas will be present in Arizona, California, Florida and Michigan, with choose companies working in a number of different states, in addition to in Canada and Mexico. Comerica reported whole property of $84.1 billion as of Sept. 30, 2022.

To subscribe to our publications or for questions, contact us at [email protected]. Archives can be found at www.comerica.com/insights.

SOURCE Comerica Financial institution



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California

Dickies to say goodbye to Texas, hello to Southern California

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Dickies to say goodbye to Texas, hello to Southern California


FORT WORTH, Texas — Dickies is leaving Cowtown for the California coast, according to a report from the Los Angeles Times.

The 102-year-old Texas workwear brand, which is owned by VF Corp., is making the move from Fort Worth to Costa Mesa in order to be closer to its sister brand, Vans.


What You Need To Know

  • Dickies headquarters will be relocated from Texas to California, according to a Los Angeles Times report 
  • The workwear brand has operated in Fort Worth since 1922
  • The report says the movie will occur in May 2025 and affect about 120 employees 
  • Dickies headquarters is being moved by owner VF Corp. so that it can be closer to its sister brand, Vans

Dickies was founded in Fort Worth in 1922 by E.E. “Colonel” Dickie. Today, Dickies Arena is the entertainment hub of the city and home of the Fort Worth Stock Show and Rodeo.

The company is expected to make the move by May. Approximately 120 employees will be affected, the report said.

By moving one of its offices closer to the other, VF Corp. says it can “consolidate its real estate portfolio,” as well as “create an even more vibrant campus,” Ashley McCormack, director of external communications at VF Corp. said in the report.

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Dickies isn’t the only rugged brand owned by VF Corp. The company also has ownership of Timberland, The North Face and JanSport.

VF Corp. acquired Dickies in 2017 for $820 million. 

“Their contributions to our city’s culture, economy and identity are immeasurable,” District 9 City Council member Elizabeth Beck, who represents the area of downtown Fort Worth where Dickies headquarters is currently located, said in a statement to the Fort Worth Report. “While we understand their business decision, it is bittersweet to see a company that started right here in Fort Worth take this next step. We are committed to supporting the employees who remain here and will work to honor the lasting imprint Dickies has left on our community.”



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Caitlyn Jenner says she'd 'destroy' Kamala Harris in hypothetical race to be CA gov

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Caitlyn Jenner says she'd 'destroy' Kamala Harris in hypothetical race to be CA gov


Caitlyn Jenner, the gold-medal Olympian-turned reality TV personality, is considering another run for Governor of California. This time, she says, if she were to go up against Vice President Kamala Harris, she would “destroy her.” 

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Jenner, who publicly came out as transgender nearly 10 years ago, made a foray into politics when she ran as a Republican during the recall election that attempted to unseat Gov. Gavin Newsom in 2021. Jenner only received one percent of the vote and was not considered a serious candidate. 

Jenner posted this week on social media that she’s having conversations with “many people” and hopes to have an announcement soon about whether she will run. 

Caitlyn Jenner speaks at the 4th annual Womens March LA: Women Rising at Pershing Square on January 18, 2020 in Los Angeles, California. (Photo by Chelsea Guglielmino/Getty Images)

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She has also posted in Trumpian-style all caps: “MAKE CA GREAT AGAIN!”

As for VP Harris, she has not indicated any future plans for when she leaves office. However, a recent poll suggests Harris would have a sizable advantage should she decide to run in 2026. At that point, Newsom cannot run again because of term limits. 

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If Jenner decides to run and wins, it would mark the nation and state’s first transgender governor.  



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Northern California 6-year-old, parents hailed as heroes for saving woman who crashed into canal

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Northern California 6-year-old, parents hailed as heroes for saving woman who crashed into canal


LIVE OAK — A six-year-old and her parents are being called heroes by a Northern California community for jumping into a canal to save a 75-year-old woman who drove off the road. 

It happened on Larkin Road near Paseo Avenue in the Sutter County community of Live Oak on Monday. 

“I just about lost her, but I didn’t,” said Terry Carpenter, husband of the woman who was rescued. “We got more chances.” 

Terry said his wife of 33 years, Robin Carpenter, is the love of his life and soulmate. He is grateful he has been granted more time to spend with her after she survived her car crashing off a two-lane road and overturning into a canal. 

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“She’s doing really well,” Terry said. “No broken bones, praise the Lord.” 

It is what some call a miracle that could have had a much different outcome without a family of good Samaritans. 

“Her lips were purple,” said Ashley Martin, who helped rescue the woman. “There wasn’t a breath at all. I was scared.” 

Martin and her husband, Cyle Johnson, are being hailed heroes by the Live Oak community for jumping into the canal, cutting Robin out of her seat belt and pulling her head above water until first responders arrived. 

“She was literally submerged underwater,” Martin said. “She had a back brace on. Apparently, she just had back surgery. So, I grabbed her brace from down below and I flipped her upward just in a quick motion to get her out of that water.” 

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The couple said the real hero was their six-year-old daughter, Cayleigh Johnson. 

“It was scary,” Cayleigh said. “So the car was going like this, and it just went boom, right into the ditch.” 

Cayleigh was playing outside and screamed for her parents who were inside the house near the canal.

I spoke with Robin from her hospital bed over the phone who told us she is in a lot of pain but grateful.

“The thing I can remember is I started falling asleep and then I was going over the bump and I went into the ditch and that’s all I remember,” Robin said. 

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It was a split-second decision for a family who firefighters said helped save a stranger’s life. 

“It’s pretty unique that someone would jump in and help somebody that they don’t even know,” said Battalion Chief for Sutter County Fire Richard Epperson. 

Robin is hopeful that she will be released from the hospital on Wednesday in time to be home for Thanksgiving. 

“She gets Thanksgiving and Christmas now with her family and grandkids,” Martin said. 

Terry and Robin are looking forward to eventually meeting the family who helped save Robin’s life. The family expressed the same feelings about meeting the woman they helped when she is out of the hospital. 

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“I can’t wait for my baby to get home,” Terry said. 



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