A.M. Splash: Report – FBI Investigating Solyndra For Accounting Fraud; Navy to Hand Over Alameda Point for Free; Alameda Drowning Report
- Solyndra target of FBI fraud investigation (Bloomberg)
The FBI is investigating bankrupt solar company Solyndra for possible accounting fraud and the accuracy of financial representations made to the government, according to an agency official who spoke on condition of anonymity.
- City, Navy work out deal for Alameda Point transfer (Contra Costa Times)
In what Alameda officials say will help jump-start the redevelopment of Alameda Point, the U.S. Navy has agreed to drop the $108 million price tag for the property and convey it at no cost to the city. The Alameda Reuse and Redevelopment Authority, the body under which the City Council meets to oversee the former Alameda Naval Air Station, is expected to approve the deal on Wednesday. City Manager John Russo called the deal “unconditionally good news.”
- Report rebukes Alameda for non-rescue in bay (SF Chronicle)
An independent review of the Memorial Day death of an apparently suicidal man at Alameda’s Crown Beach rebukes the city for not having a water rescue crew at the time, and urges better coordination between the island city’s police and fire agencies when handling offshore emergencies.
- UCSF police take man into custody in connection with Hells Angels homicide (SJ Mercury News)
Police have arrested a member of the Vagos gang on charges that he killed the president of the San Jose chapter of the Hells Angels. A University of California San Francisco police sergeant spotted Ernesto Manuel Gonzalez, 53, of San Jose at 8:20 p.m. Thursday and took him into custody, where police in Sparks, Nev. will come to retrieve him, according to UCSF Police Chief Pamela Roskowski.
- Ed Lee, David Chiu have most cash in mayors’ race (SF Chronicle)
…Lee raked in almost $750,000 in cash and other contributions since jumping into the mayor’s race less than two months ago. But the candidate with the largest war chest heading into the home stretch for the Nov. 8 election is Board of Supervisors President David Chiu, campaign finance reports filed Thursday show.
- PG&E’s Rancho Cordova blast fine rejected as low (SF Chronicle)
An administrative law judge on Thursday rejected as too lenient a $26 million fine against Pacific Gas and Electric Co. that the utility agreed to with state regulators for a 2008 natural gas pipeline explosion near Sacramento that killed a homeowner. Instead, the judge recommended that PG&E be fined $38 million for breaking state and federal safety laws. If upheld, it would be the largest regulatory penalty ever against a California utility.
- Apotheker leaves HP with $13 million; Whitman takes $1 a year (SJ Mercury News)
Former Hewlett-Packard chief Léo Apotheker, who was ousted last week after the company’s stock lost nearly half its value during his 11-month tenure, is leaving with $13.2 million in cash and stock. Newly appointed CEO Meg Whitman will join Silicon Valley’s $1-a-year club, following the lead of Oracle chief Larry Ellison and Apple Chairman Steve Jobs, among others, although HP reported Thursday that Whitman will be eligible for stock options and an annual bonus of up to $6 million.
- Demonstrators give banks an earful in downtown San Francisco (SF Examiner)
Several hundred people picketed in front of bank branches throughout downtown San Francisco on Thursday afternoon, chanting slogans and hoisting signs that placed the blame for the country’s ongoing economic trouble on Wall Street tycoons.
- As black families leave Oakland, their kids disappear from school (Oakland Tribune)
The Oakland school district’s student population shrank by about 30 percent between 2000 and 2010, but that decline was by far the sharpest among its African-American students, who accounted for more than three-quarters of the total drop. The public school system lost about 12,500 black students in that decade — roughly half, according to figures from the California Department of Education.
- Report shows rise in sexual assaults at Stanford (Palo Alto Daily News)
Stanford saw a 75 percent rise in forcible sexual assaults last year, a new report reveals, but university officials assert there is a silver lining to the grim statistic. A total of 21 attacks were reported to campus authorities in 2010, nine more than the previous year, according to the Safety, Security & Fire Report, which was released last week. Just 10 cases were reported in 2008. Though startling, the statistic does not mean more sexual assaults are taking place, said Stanford Department of Public Safety spokesman William Larson. Rather, more people are stepping forward to report the crimes.
Category: Morning Splash