Pair plead guilty to mortgage fraud

Two Coachella Valley businessmen, Christopher Oetting and Steven Kayden, agreed to plead guilty Thursday to their roles in a $150 million securities and mortgage fraud scheme led by a man who called himself “James the Cash King,” prosecutors said in Riverside. More

California unemployment rate hits 12.5 percent

California’s unemployment rate rose to 12.5 percent in October to set another modern record. More

New tourism event promotes city's spas

More than a dozen Desert Hot Springs spas will open their doors and give away more than $10,000 in prizes for a new tourism event, the Chamber of Commerce announced this week. More

Unemployment rates indicate slow recovery

A gauge of future economic activity and a report on unemployment benefits signaled Thursday that the recovery likely will remain weak in the coming months. More

Vivendi inching closer to decision on NBC

Media and entertainment conglomerate Vivendi SA is nearing a decision on whether to sell its stake in NBC Universal, which would clear the way for the creation of one of the most powerful media companies in the world. More

Jobless struggle to pay mortgage

The foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises concerns about the broader economic recovery. More

AOL to shed 2,500 jobs, offers employees buyouts

The struggling Internet company AOL plans to shed up to 2,500 jobs — more than a third of its work force — as it prepares to separate from Time Warner and finally sever their ill-fated marriage. More

Sports bar caters to valley locals

On a recent Thursday afternoon Jorge Salas entered Cicchi's Sports Shack Bar & Grill and settled into his routine. More

High-desert company leaving for more 'business-friendly' state

Bar-Sto Precision Machine, a maker of auto pistol barrels, is moving its operations from Twentynine Palms to South Dakota. More

Restaurant to award meals for a year to most generous in food drive

Souplantation in La Quinta is offering a meal-a-week for free for one year to the person who donates the most to a food drive benefiting Martha’s Village and Kitchen in Indio. More

AOL offers buyouts to 2,500, a third of work force

AOL LLC, an Internet company struggling to adapt to an advertising-driven economy, is looking to shed more than a third of its work force as it prepares to spin off from Time Warner Inc. next month. More

Story with video: State panel adopts tighter energy standards for TVs

State regulators adopted the nation's first energy-efficiency standards for televisions Wednesday in hopes of reducing electricity use at a time when millions of American households are switching to power-hungry, wide-view, flat-screen, high-definition sets. More

New jobless claims unchanged, foreclosures rise

The number of newly laid-off workers seeking unemployment benefits was unchanged last week, remaining above the level that would indicate the economy is adding jobs. More

Home-building slows recovery

The budding economic recovery isn't getting much help from the home-building industry, which normally creates jobs and drives growth when a recession ends. More

Harold Matzner to speak at hospitality luncheon

Harold Matzner of the Palm Springs International Film Festival will be the featured speaker at this week's Palm Springs Hospitality Association luncheon. More

Training movements, not muscles

Fitness is important, say Cheryl Cohen and Laura Keenan, owners of Desert Crossfit in Palm Desert. More

From Del Taco to deli

Ed Hackbarth, co-owner of Schlotzsky's sandwich shop in La Quinta — and founder of Del Taco — has been involved in the food services industry since 1954 when he became manager of Taco Tia, a taco stand in Barstow. More

Restaurant begins anew after fire

A La Quinta Resort and Club restaurant damaged by fire more than a year ago will officially reopen in January with a new look. More

Video Depot owner closing 4 valley stores

Video Depot ownership has decided to close four locations in the Coachella Valley, with some stores in the process of liquidating their movies and games. More

Home sales down for first time in over a year

Coachella Valley home sales fell 3 percent in September, a new report from San Diego-based MDA DataQuick shows. Sales had been rising steadily since June 2008 — after sales fell 12 percent and the median sales price stood at $300,000 — mostly because of dropping prices. More

Decline in factory production shows caution lingers

A decline in factory production in October signals that consumers and businesses remain cautious in their spending, with the economic recovery likely to be sluggish. More

Reporter departs KMIR post to lead minority foundation

Local television news reporter and weekend anchor Gloria Margarita is leaving KMIR 6 to head up a local nonprofit group that benefits minority high school students. More

Business Improvement District discovers funds

The beleaguered Palm Springs Business Improvement District may not have mandatory dues flowing into its coffers these days, but it does have about $13,000 more to work with this fiscal year than was previously anticipated, officials said Tuesday. More

GM says improved quarter indicates signs of stability

General Motors, its river of red ink stemmed by a trip through bankruptcy court, reported a narrower quarterly loss and said it would start repaying billions of dollars in government loans that helped keep it alive. More

Ho, ho, no: Subdued holidays ahead

Improved retail sales gave Wall Street a boost Monday but provided little hope for a robust holiday shopping season that might invigorate the economic recovery. More

Job services group stays in mall location, for now

The Institute for Sales and Service Excellence center will stay in its current location at Westfield Palm Desert for the time being, officials said. More

Valley stores open doors to track holiday sales activity

The holiday shopping season is the most important time of the year for some businesses. More

High-energy duo not just pouring coffee

On just about any given day, you'll find Old Town Coffee Co. owners Merv Tyer and Stuart Green busy at work at their popular neighborhood coffeehouse. More

Fundraising group helps raise bar on philanthropy scene

Philanthropy is a big business in the desert, especially as the calendar fills up with charity galas and volunteering commitments during the winter months. More

Playground offers teens glimpse at career fields

Construction types had a sense of satisfaction seeing roughly 70 teens from the Indio and La Quinta clubhouses of the Boys & Girls Club of Coachella Valley join Home Depot workers and other volunteers as they put together a new playground at South Jackson Park in Indio. More