Folks in government are beginning to wonder when private industry is going to, um, hire people. 12.4% is better than 12.6%, but I don't see a lot of Californians breaking out the bubbly.  The Governator's response:

While the decline of our unemployment rate is welcome news, there are still far too many Californians out of work. To achieve a full recovery, there must be accelerated hiring in the private sector, and that’s exactly why we must not burden California employers and consumers with higher taxes. Now is the time for government to be a partner to economic growth, not an obstacle to it. Just this week, Baxter’s BioScience [my emphasis] business announced it would continue investing in California because of the efforts of Los Angeles and my Administration to expand the East Los Angeles Enterprise Zone. These are the type of efforts we should focus on, and I encourage the legislature to consider this as they continue budget deliberations.

Government subsidies only take a firm/sector so far. And for some market investors, a big grant from the US Department of Energy can raise questions about a company's ability to function without that support.  Solyndra has canceled its planned initial public offering, opting to raise money from existing investors instead. Solyndra cited "adverse market conditions," but if that's fer real, it's not stopping Tesla.

Toyota is set to restart North American Corolla production ... in Mississippi.