Ontario names new city manager

By Liset Marquez, Inland Valley Daily Bulletin

Posted: 10/02/13, 9:23 AM PDT |

ONTARIO >> The City Council has named deputy city manager Al Boling to succeed Chris Hughes as city manager.
The council unanimously made the decision during closed session of Tuesday’s council meeting. The appointment was announced during the meeting.
Boling has been with the Ontario for 17 years, first serving as the city’s first internal auditor and in the role of deputy city manager for the past six years.
Hughes, the city manager for the past three years, announced Thursday he will retire in December.


“I have the most utmost confidence and respect with Al Boling,” Mayor Paul Leon said. “I know the city will be well taken care of.”
As deputy city manager, Boling has overseen several city departments but has usually has a low-profile during council meetings.
“A lot of people don’t even know who Al is,” said Councilman Alan Wapner, motioning Boling to stand up to the podium at the council meeting.
Wapner said he has had several long conversations with Boling and is confident in his capabilities for the position.


The outgoing city manager has been at the helm of the battle for local control of L.A./Ontario International Airport. And on Tuesday, Wapner assured the public that things will be no different with Boling, adding he has been involved in the issue with the airport from the start.

Fall Funfest All Breeds Horse Show

Fall Funfest All Breeds Horse Show - September 1st

Spectators are welcome to attend the Annual Fall Funfest All Breeds Horse Show on Sunday, September 1st from 8:00 am to 4:00 pm at the McCoy Equestrian & Recreation Center, 14280 Peyton Drive.

Housing news dominated the headlines this morning with positive home price data hitting the wires. First up was CoreLogic reporting that its national Home Price Index on a year-over-year basis in the month ended in June rose by nearly 12% as the sector continues to improve. From May to June, prices rose by almost 2%. In addition, home prices are expected to rise by 12.5% year-over-year basis in July. However, prices are still down 19% from their peak hit back in April 2006. All of the figures include distressed sales.

To further bolster price appreciations in housing, Clear Capital reported that national home prices surged 9.3% in July 2013 from July 2012 and gained 1.6% over the last quarter. Clear Capital did say that prices remain 33.4% below peak values. For the last half of 2013, the firm sees a moderation in home price trends.

President Obama will be in Phoenix, Arizona later today speaking on the housing market and in particular, the future fate of Fannie Mae and Freddie Mac. The government bailed out the two mortgage giants to the tune of nearly $200 billion after the housing market collapsed in 2008 and the plan is for their roles to diminish and let private sector capital take on a bigger role in the mortgage market.

Positive News Today

Economic data was abundant today and the reports were slanted towards the positive side.

First up was the advanced reading for second quarter Gross Domestic Product (GDP) showing that growth in the quarter rose by a rather dismal 1.7%. That was better than the 1.1% that was registered in the first quarter and above the 1.1% expected. The 1.1% in the first quarter was revised lower from 1.8%. The 1.7% reflected an uptick in inventories and as consumer spending eased. GDP measures the market value of goods and services produced by labor and property in the United States.

Over in labor market news, ADP reported that private employers added 200,000 new jobs in July, above the 175,000 expected while the June number of 188,000 was revised higher to 198,000. The gains were seen across the board in businesses of all sizes. The ADP precedes the government's monthly jobs report that will be released on Friday morning.

The highly anticipated Federal Open Market Committee statement will be released this afternoon at 2:00pm ET and will be closely scrutinized by market watchers around the globe. In particular, players will be looking for any hints of an ease in the Bond buying program enacted by the Fed to accelerate U.S. growth and to support the labor markets and to keep interest rates low.

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Wells Fargo announced this week that it will be laying off 300 workers in its joint venture home lending unit due to new regulatory changes. Those holding student loans can breathe a sigh of relief today after the Senate passed a bill that would lower the interest rate to 3.9% from 6.8% and will be approved by the House. The regularly scheduled Federal Open Market Committee meeting will be held next week with a monetary policy statement being released at 2:00pm ET on Wednesday.

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