Issue link: https://www.epageflip.net/i/8635
Saturday, April 3, 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, APRIL 3 Red Bluff Easter egg hunt, noon to 2 p.m., Red Bluff Moose Lodge, 11745 Hwy.99W, free hot dogs, 527-4239 Ride For Life, 7 a.m.check in, 9 a.m.start, Tehama District Fairground Sweet Dreams Patsy Cline Tribute, 7 p.m. recep- tion, 8 p.m. showtime, State Theatre, to recognize Friends of the State Theatre, $20 advance, $25 box office, 529-2787 SUNDAY, APRIL 4 Red Bluff Easter Brunch, 10 a.m.to 1 p.m., Elks Lodge, 355 Gilmore Road, $10 adults, $5 children 12 and younger Corning Evangelist services, 7 p.m., Family Bible Church, 609 Marin St., 824-9989 MONDAY, APRIL 5 Red Bluff Al-Anon, 6 p.m., Presbyterian Church, Jefferson and Hickory, additional meetings noon and 6 p.m. Wednesdays, 6 p.m.Fridays 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 Red Bluff Community Band, 6:45-8:45 p.m., Community and Senior Center, 1500 S. Jackson St., 527-3486 5700 Sons in Retirement, 11:30 a.m., Elks Lodge, 529- Sun Country Quilters Community Service Group, 9 a.m.to 3 p.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528-8066 Corning Narcotics Anonymous, 7 p.m., 815 First St., 385- 1169 or 566-5270. Meetings are every day through Saturday with an additional meeting at noon Mondays Sewing class, 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, Senior Center, Josephine St. TUESDAY, APRIL 6 Red Bluff City Council, 7 p.m. City Hall, 555 Washington St. PAL Kickboxing, 4 p.m., 1450 Schwab St., 529- 8716 or 200-3950 Playtime Pals Playgroup, 9:30 a.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528- 8066 Red Bluff Rotary, noon, Elks Lodge Tehama County and Red Bluff Landfill Manage- ment Agency, 8 a.m., board meeting, 727 Oak St. Tehama County Board of Supervisors, 10 a.m., board chamber, 727 Oak St. Tehama County Patriots, 6 p.m., Trinity Landmark Missionary Church, 20920 Hampton Rhodes Drive Corning Corning Community meeting, 7 p.m., Maywood Middle School, 1666 Marguerite Ave. Corning Recreation Commission, 7:30 p.m., City Hall, 794 Third St. Spanish Adult Education, 1:30 p.m., Family Resource Center, West and South streets, 824-7670 Los Molinos Los Molinos Cemetery District, 8:30 a.m., 7835 Highway 99E Who Wants Health Care? Do you know what Muhammad, Buddha, Confucius, Gandhi, Joseph Smith and Pope John Paul all have in common? There bodies all lie in tombs. Did you know that Jesus Christ’s body does not lie in a tomb? How is this possible? The greatest Health Care Reform ever happened 2000 yrs ago. Find out how you can sign up. Who: You What: Spiritual Health Care Reform. Where: A bible teaching church or on the radio at 90.3 FM. When: Sunday April 4th AM. See local listings for times. Why: I can have the free gift of life. Easter Sunday Be There Bathing suit season will be here before you know it, so now’s the time to work off that winter weight gain! If you start now and lose 1-2lbs per week you will have lost 15-35lbs by the 4th of July! Spring Specials $25 month unlimited tanning 3 month single membership $99 3 month couple membership $155 6 month single membership $189 6 month couple membership $299 Gift certificates available Specials offered through April only Must be 18 or with a guardian to sign up for tanning or membership Tehama Family Fitness Center 2498 South Main St • Red Bluff 528-8656 • www.tehamafamilyfitness.com Stockbroker doesn't really work for you What's the most significant differ- ence between a stockbroker and an investment adviser? If you're like most investors, you'll find it difficult to make that distinction. In fact, you probably consider your broker to be your adviser when it comes to invest- ments. But there is a huge distinction between the two categories of broker and adviser -- a difference that could be very costly. Let me start by saying that the ultimate distinction is the character of the person with whom you choose to work. No matter what the title, the most crit- ical ingredients in this decision revolve around expertise, experience and integrity. That said, there is a legal differ- ence between the obligations of a stockbroker or "registered represen- tative" and a registered investment adviser. The investment adviser pledges to put his or her client's interests first. That would require full disclosure of all costs and commissions, as well as any potential conflicts of interest. It's a standard set by the Investment Advisers Act of 1940 and affirmed by the Supreme Court. It's called a "fiduciary duty." But stockbrokers are only required by rule to "know your cus- tomer" and to offer products that are "suitable." Brokers have been excluded from the fiduciary duties required of investment advisers as long as any advice they give is "sole- ly incidental" to their brokerage ser- vices. That's a huge distinction -- and one that is little recognized by most investors, who naively assume the "expert" they are consulting is required to be their advocate. •Those distinctions were made long before there were "wrap accounts" and "managed accounts" sold by brokers. •And those lines were drawn when insurance companies offered few, if any, investment-type accounts such as tax-deferred annuities or uni- versal life policies that include investment alternatives. •The rules were created long before you could walk into a bank, expecting to buy an FDIC-insured Police reports The following informa- tion is compiled from Red Bluff Police Department, Tehama County Sheriff’s Department, Corning Police Department and California Highway Patrol. Arrests •Joel Jerome Graham, 46, Red Bluff, also known as Cody Lee Davidson, also known as Eric Hugh Graham, was arrested early Thursday morning on suspicion of three counts of failing to appear in court on felony charges and three counts of failing to appear in court on mis- demeanor charges. Bail was set at $111,000. •Scott Rex Mills, 23, Chico, was arrested early Thursday morning at the corner of Watkins and Capay roads by the TCSD on suspicion of driving without a license, possess- ing a controlled substance, bringing a controlled sub- stance into an area with prisoners and transporting or selling a controlled sub- stance. Bail was set at $45,298. Violence •John Ernest Frasher, 46, Cottonwood, was arrested on suspicion of certificate of deposit, and instead find yourself in the "investment department" being talked into a bond fund or annuity. •Those rules were outlined before the blurring of titles for salespeople for all of those products. No wonder there's confusion among investors and savers about finding advice they can trust. The laws do not require salespeople to put your best interests ahead of their own financial interest. Now a group of highly respected econo- mists, investment advisers, financial planners and journalists (myself included) are publicly calling for the proposed financial reform legislation to require the fiduciary standard to be applied to all who provide financial advice. increase product competition -- and bring down profit margins. That's hardly a revolutionary idea, nor is it one that should really threaten the Street. Thirty-five years ago, Wall Street deregulated brokerage com- missions in an emotional event that was called "May Day" not only because it occurred on May 1, 1975. The competition that ensued certainly didn't drive the best firms out of busi- ness, as many had predict- ed. Terry Savage The Savage Truth on Money John C. Bogle, founder of the Vanguard Group and a signer on the petition, says Congress needs to act to affirm the basic principle that when render- ing investment advice, "No man can serve two masters." There's a provision in the finan- cial reform legislation introduced last week by Sen. Chris Dodd, D- Conn. It would require a study about the benefits of extending the fiducia- ry standard to stockbrokers. It seems to me that very little study is required. Asking brokers to adhere to the highest standards of responsibility is hardly an issue that should raise debate. In fact, most brokers agree this is a good idea. It's the Wall Street firms and the insur- ance industry that seem to be drag- ging their feet. Think about it. If brokers are required to put their clients' interest ahead of their own, they'd be selling no-load or index funds. Insurance salespeople couldn't sell annuities that are loaded with fees, commis- sions and penalties without full dis- closure -- and counseling their prospects on lower-cost, similar alternatives. The new awareness would violating parole after reportedly threatening to shoot a woman and her child on Shelter Haven Court. Bail was withheld. •A woman reported being pushed, punched and choked Thursday after- noon on Way Out Lane. Animal A man reported his dog poisoned Thursday morn- ing on Jefferson Street. Theft •A brown 2004 Chevro- let Venture belonging to Winchell’s Donut House was reported stolen Friday morning on Main Street. The vehicle, with the lic- sen plate 5PTF862, was last seen on the north- bound Interstate 5 onramp off Diamond Avenue. •A stolen trailer was recovered Thursday morn- ing on Hall Road near More recently, we've seen full disclosure of everything from new car costs to airline fares, and the intense competition raised by full disclosure has brought on new winners, like Southwest Airlines. But in every case, con- sumers have benefited by full disclosure -- a basic premise of the fiduciary standard. In these days of general public disillusion with Wall Street, any idea that encourages the public to feel their financial brokers are on their side is an idea that should be trumpeted instead of buried in a "study." We need faith in the free markets to bring our economy back into growth mode -- the only way to pro- vide jobs and all the government benefits we have promised. And we need investors in our markets to ben- efit from that growth and provide capital for future development. It's time for all financial salespeo- ple to adhere to a fiduciary standard. If we keep operating on a "buyer beware" standard, then don't be sur- prised if wary buyers avoid the mar- kets entirely. And that's The Savage Truth. Terry Savage is a registered investment adviser and is on the board of the Chicago Mercantile Exchange. She can be reached at www.terrysavage.com. She is the author of the new book, "The New Savage Number: How Much Money Do You Really Need to Retire?" South Avenue when some- one recognized it and reported it to the Tehama County Sheriff. •A woman reported los- ing her change purse Thursday afternoon at the Dollar Tree, only to have it returned with $80 missing. •A man reported losing $165 from a Home Depot card Thursday afternoon. Vandalism •A fence was reported struck by a vehicle Thurs- day morning on Griffin Way. •Several windows were reported broken Thursday morning on Johnson Street. Crash • Roy Austin, 57, of Red Bluff was taken to St. Elizabeth Community Hospital for minor injuries following a crash at 12:10 p.m. Thursday on Mulber- ry Avenue, north of Round-Up Avenue. Austin was driving south on Mul- berry about 20 mph when due to drug intoxication he allowed his vehicle to drift left, running off the road. The vehicle hit two cul- verts and a mailbox before coming to rest. The vehicle received moderate dam- age. Austin was arrested on suspicion of driving under the influence. Jack the Ribber Mon-Sat 9:30-5:30 A Unique Children’s Boutique Closed 905 Walnut St., Red Bluff 528-1698 twopeasinapod@aol.com Bring in this ad for 10% off Sundays • Ribs •Tri-Tip • Pulled Pork • Specials Mon.-Fri. 11am-8pm Sat. 5-9pm 1150 Monroe St. 527-6108