Issue link: https://www.epageflip.net/i/10521
Saturday, May 15, 2010 – Daily News – 3A Local Calendar To add an upcoming event in the Local Calendar, submit information well in advance to the Daily News, attention Calendar, P.O. Box 220, Red Bluff, 96080 or e-mail to clerk@redbluffdailynews.com. Include a contact name and telephone number. SATURDAY,MAY 15 Red Bluff 4-H Poultry Show, 8 a.m., Tehama District Fair- ground, Jr. Judging Ring 527-3101 American Cancer Society Relay for Life, 9 a.m.,Vista Middle School Los Molinos High School Alumni Breakfast, 8:30 to 10:30 a.m. at Los Molinos High School North Valley Dairy Goat Association Dairy Goat Show, 8 a.m., Tehama District Fairground, Jr. Judging Ring, Beef Barn 357-3138. Northern Counties Quarter Horse Show, 7 a.m., Tehama District Fairground, Pauline Davis Pavilion 865-7311 Red Rock BMX racing, Registration 10:30a.m., Racing, noon, Tehama District Fairground, 526-3836 Tehama Thunder Boys AAU 8th grade basket- ball team carwash, noon to 4 p.m., Tom's Glass & Muffler, next to Taco Bell CORNING Airport rededication, Volunteer Fire Department pancake breakfast 8-11 a.m., rededication ceremony 10 a.m., 930 N. Marguerite Ave. Los Molinos Los Molinos High School Alumni Breakfast, 8:30-10:30 a.m., Los Molinos High School SUNDAY,MAY 16 Red Bluff North Valley Dairy Goat Association Dairy Goat Show, 8 a.m., Tehama District Fairground, Jr. Judging Ring, Beef Barn 357-3138 Northern Counties Quarter Horse Show, 7 a.m., Tehama District Fairground, Pauline Davis Pavilion 865-7311 Corning Evangelist services, 7 p.m., Family Bible Church, 609 Marin St., 824-9989 MONDAY,MAY 17 Red Bluff Al-Anon, 6 p.m., Presbyterian Church, Jefferson and Hickory Gastric Bypass Support Group, 6 p.m., St. Eliza- beth Community Hospital, Columba room, 529-3066 Head Injury Recreational Entity, 10 a.m., St. Eliz- abeth Community Hospital, Coyne Center, Rusty, 529- 2059 Key to Life, 6 p.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528-8066 North State Barrel Racers,5 p.m., Tehama District Fairground, Bull Sale Arena 526-4210 Red Bluff Community Band, 6:45-8:45 p.m., Red Bluff Community and Senior Center, 1500 S. Jackson St., 527-3486 Retired and Active Federal Employees, 11:30 a.m., Elks Lodge, call Karen at 585-2494 Salvation Army Writing Class, 9:30-11 a.m., 940 Walnut St., 527-8530 Sun Country Quilters Community Service Group, 9 a.m.to 3 p.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528-8066 Tehama County Military Family Support Group, 6 p.m., Green Barn, 529-1852 Corning Candidates Night,7 p.m., Veterans Memorial Hall, Solano Street Kirkwood School Board, 5 p.m., 2049 Kirkwood Road Narcotics Anonymous, 7 p.m., 815 First St., 385- 1169 or 566-5270, daily through Saturday, noon Mon- days, no meeting the third Wednesday Sewing group, 9 a.m., Family Resource Center, West and South streets, 824-7670 Spanish Adult Education, 5 p.m., Family Resource Center, West and South streets, 824-7670 Strategies for Success, Life Skill classes, 1:30 p.m., Family Resource Center, West and South streets, 824-7670 Los Molinos Senior Dance,7 p.m., Los Molinos Sr. Social Club, Los Molinos Senior Center, Josephine St. Gerber Gerber Elementary School Board, 6 p.m., Gerber School, 23014 Chard Ave. Public Works Committee, 8:30 a.m., Tehama County Public Works Department, 9380 San Benito Ave. Richfield Richfield Neighborhood Watch/Town Hall meet- ing, 6:30 p.m., Richfield School gym, 824-3354 or 824- 6260 Anniversary Special: FREE Regular or N.G. glass with all custom frames during May. Must persent this ad. Offer Expries 5/31/10. Oversize glass not included 857 Washington St. red bluff 530-527-3369 530-528-8120 10 Gilmore Rd. Red Bluff Corner of Antelope & Gilmore An easy solution to mortgage mess The mortgage problem is overwhelming the eco- nomic recovery. Foreclo- sures destroy the market for new homes and the jobs that home-building creates. Families are destroyed and hopes are shattered, while the foreclosure process moves slowly through the legal system. Federal programs for mort- gage modifications are drowning in red ink and strangled in red tape. How can America move on to recovery when the housing problem saps the strength and the confidence of the American economy and individuals? The federal government has not been able to come up with the answer, despite lofty proclamations and exhortations by leaders of both parties. But one very smart man -- now putting his substantial fortune to work to deal with these issues -- has a sensible and unique solution. His name is Wilbur Ross. I first met him 15 years ago when he was buying steel companies around the globe -- at a time when everyone thought he was crazy. He explained that he was buying assets very cheaply -- including Bethlehem Steel, LTV Steel and U.S. Steel's Gary Works plant. After reorga- nizing the companies into International Steel, Ross sold his collection of steel companies to Mittal Steel Co. for $4.5 billion in 2005. Ross has performed that same kind of financial triage in other industries -- including coal, textiles, auto parts and even bank- ing. Most recently he became interested in the domestic mortgage market, taking control of American Home Mortgage and expanding it to service $110 billion of mort- gages. Ross is incensed that the plans government has been trying are not only illogical, but unfair to the millions of home- owners who are strug- gling to pay their mort- gages. He asks: "Why is it good public policy to help only people who default, as opposed to people who struggle and give up vaca- tions, car purchases, etc., in order to make their mort- gage payments?" And that is at the heart of his proposed solution to help all of the estimated 20 million American home- owners who owe more than their home is currently worth. Ross' solution is so sim- ple that it takes your breath away. Here it is, in his words: "My proposal is that lenders who agree to down- size a mortgage to today's values be given the follow- ing deal, regardless of whether the mortgage was in default or not: • "First, the federal gov- ernment would guarantee one-third of the reduced mortgage. This would give the lender an asset (that can be sold) at par and therefore provide liquidity to the mortgage market. • "Second, the lender -- in return for reducing the mortgage principal amount -- would get one-half of the appreciation on the first resale, until the lender had recouped the forgiven prin- cipal, without interest. • "The government would get one-fourth of the appreciation up to the same cap, on the first resale, as a The Tehama County Elections Department encourages voters to con- sider the Vote-By-Mail option begin- ning Monday, May 10. Vote-By-Mail options: • When filling out your Voter Regis- tration Card, mark the bubble and initial the line in the appropriate box "Perma- nent Vote-By-Mail Voter" • Fill out the request card on the back of your Sample Ballot and mail it in Police reports The following infor- mation is compiled from Red Bluff Police Depart- ment, Tehama County Sheriff’s Department, Corning Police Depart- ment and California Highway Patrol. Arrest • Matthew Marc Jiminez, 25, of Corning was arrested Thursday evening on Highway 99W near Loleta Avenue. Offi- cers made a traffic stop where Jiminez, the driver, admitted he was driving on a suspended license. Officers smelled marijua- na coming from the vehi- cle and found three grams of marijuana, vicodin and Norco, for which he did not have a prescription. Jiminez was booked into Tehama County Jail. Bail was set at $26,261. • Christopher Levi Scheel, 24, Red Bluff, also known as Brian Kyle Scheel, was arrested Thursday afternoon at Star Mart on suspicion of receiving known stolen form of insurance premi- um. • "And the homeowner would get one- fourth of the appreciation back to the orig- inal principal amount -- and 100 percent of any further appreciation." Stop and think about it. You'll wonder, as I did, why the federal govern- ment couldn't come up with this simple solu- tion that requires no paperwork, no modification, no red tape -- simply a reduc- tion of principal and monthly payment that policy that rewards people who do not honor their obligations and ignores people who make sacrifices to honor those same oblig- ations. This is why you are see- ing bumper stick- ers all around the country that read, 'Honk if I am pay- ing your mort- gage.'" Terry Savage The Savage Truth on Money could be done by the ser- vicer, combined with a one- page attachment to the title, attesting to this deal to repay when the house is sold. When I expressed my own astonishment, Ross reminded me: "It was the government that let this mess occur and indeed helped create it. Remember Barney Frank's now- famous remark, 'I am ready to roll the dice with Fannie Mae and Freddie Mac.' Well, he did, and it came up snake eyes. And now they are trying to offload the blame. ... Also remember Alan Greenspan (saying), 'You have to be crazy not to take out an adjustable-rate mortgage.' The same gov- ernment officials are now trying to solve the problem they created." We can all agree that the current approach to dealing with the mortgage problem is not working. Ross puts it succinctly: "It is a bizarre Vote-By Mail ballot option • Contact the Elections Office and request a Vote-By-Mail application be sent to you or come to the office 8 a.m. to 5 p.m. by June 1. You can choose to vote by mail this election only, or per- manently. For more information, call the Elec- tions Office at 527-8190 or (886) 289- 5307, visit 444 Oak St., Room C, Red Bluff or send and email to elections@co.tehama.ca.us. property. Bail was not set. Teen A teen girl was report- edly pushed and called numerous names Thurs- day evening on D Street. Theft A briefcase full of hear- ing aids and a computer was reported stolen Thurs- day afternoon from the Raley’s parking lot. The theft could have occurred earlier and elsewhere, according to the victim. Vandalism Sugar was reportedly found in a gas tank Thurs- day afternoon on South Main Street. Day’s Mini Storage STORAGE RENTALS Get Them While They Last 8160 Highway 99 E, Los Molinos 530-384-2751 $25.00 5 X 10 50 sq ft $40.00 10 X 10 100 sq ft $50.00 10 X 15 150 sq ft $60.00 10 X 20 200 sq ft 530-528-8120 10 Gilmore Rd. Red Bluff Corner of Antelope & Gilmore BLOWOUT MINI The reality is that the mortgage situation is getting worse, not better. The reality is that housing is the one issue that can drag down our recov- ery into a double dip. I'll let Ross have the last word: "The reality is that when you have a system that rewards defaults, you will create defaults that otherwise never would have occurred." Amen. That's the Savage Truth. Terry Savage can be reached at www.terrysavage.com. Limited time offer expires May. 31, 2010. Other conditions and restric- tions may apply. See store for full details. Offer valid only at NorCal AT&T Authorized Retailer stores. Rebate debit card offer. Price before mail-in rebate is $149.99. Must purchase BlackBerry Unlimited Plan and sign new 2 year service agreement ot qualify for discounted pricing and rebate. Retail price Blackberry Pearl 8110 is $399.99.