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A.M. Splash: Obama in Oakland; Alameda County to Vote on Drug Disposal; Facebook Earnings

| July 23, 2012
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Oakland prepares for Obama, protesters (Oakland Tribune)

Patrol cars and news vans were parked outside the Fox Theater at 6 a.m. Monday morning in anticipation of the afternoon arrival of both President Obama and hundreds of protesters… The president is scheduled to appear at a 4:30 p.m. fundraiser inside the theater, which is located in the heart of Oaksterdam — a district dotted with cannabis-related businesses and home base for many of the industry’s leaders.

Alameda County to vote on drug disposal (SF Chronicle)

With a law believed to be nationally unprecedented, Alameda County is about to tell the pharmaceutical industry it must pay to get rid of the unused pills in people’s medicine cabinets.

Facebook efforts on advertising face a day of judgment (New York Times)

In the race for digital advertising dollars, Google has been the clear winner, with its ability to customize advertisements based on what you search for. But Facebook, which customizes ads based on who you and your friends are, hopes to be a contender. An important test of how it is doing will come on Thursday, when it releases its first earnings numbers since going public.

Perjury claims might cap honeymoon period for Mayor Ed Lee (SF Examiner)

…The Board of Supervisors unanimously adopted a resolution opposing his exploration of New York City’s stop-and-frisk policy, which critics say encourages racial profiling. His re-appointment of Michael Antonini to the Planning Commission was held up by supervisors amid heated debate. A key vote on the proposed multibillion-dollar California Pacific Medical Center project was postponed for two weeks amid the threat of defeat. And the mayor hasn’t been able to secure a compromise between dueling proposals to replace The City’s payroll tax with a levy on gross business receipts.

Juvenile hall camp alternatives catch on (SF Chronicle)

Redwood trees line the road to Log Cabin Ranch, a 640-acre property in the woods of La Honda that’s home to snakes, deer, turkeys, hawks and up to 24 of San Francisco’s most troubled youths.

Obama’s Piedmont backers an emerging force (SF Chronicle)

…Wayne Jordan, an Oakland real estate developer, is one of Obama’s top national fundraisers. In the past year, he has contributed $200,000 to Priorities USA, a super PAC supporting Obama, and the same amount to American Bridge 21st Century, a liberal super PAC.

Peet’s coffee & tea going private for $977.6 million (Associated Press)

Peet’s Coffee & Tea is being taken private for approximately $977.6 million. German conglomerate Joh. A. Benckiser will pay $73.50 per share, which is a 29 percent premium to Peet’s Friday closing stock price of $57.16. The companies put the deal’s total value at about $1 billion Monday.

City mediation wrangling: 210 hours (Stockton Record)

… Hundreds of pages of documents released Friday evening by the city provided the first comprehensive insight into the AB506 mediation process that preceded Stockton’s filing June 28 for Chapter 9 bankruptcy protection.

Larkspur opts to buy power from Marin Energy Authority (Marin Independent Journal)

Larkspur has chosen the Marin Energy Authority for its power needs. The City Council voted 4-0 on Wednesday with Councilman Dan Hillmer absent to choose the authority’s “light green” program rather than opt for competitor Pacific Gas and Electric Co., Mayor Len Rifkind said.

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