Wall St. Journal: “Southern California Institute of Law is suing bar association officials for requiring that it include information on its website advising students where they can view exam passage rates online.” 43 SCIL grads took the California Bar exam in 2012 and all of them flunked. Wow! How does a school like that stay in business?
Associated Press: “One casualty of the new health care law may be paid coverage for families of people who work for small businesses. Insurance companies have already warned small business customers that premiums could rise 20 percent or more in 2014 under the Affordable Care Act.”
Arizona Republic: “Frank Becerra Campos, 66, of San Diego, and two other men ran advance-fee mortgage-rescue companies that collected at least $669,743 in up-front fees from more than 260 homeowners ‘in exchange for loan modification services they utterly failed to provide,’ according to court documents. . . . Under two business names, the men charged up-front fees ranging from $2,500 to $4,500 and promised homeowners their mortgage principal balance and monthly payments would be reduced by about 25 percent, a news release by federal prosecutors said. Court documents said, ‘Not a single homeowner received a reduction in the principal balance on their mortgage loan’.”
Politico: “Arizona Republican Gov. Jan Brewer mocked the Obama administration’s assertion Saturday that the border is more secure than ever. ‘It’s Jay Leno comedy every other week,’ she told POLITICO”
Rural/Metro Corp., a Scottsdale-based company that provides fire and ambulance services for hire in 21 states, filed a petition for Chapter 11 bankruptcy reorganization in federal bankruptcy court in Delaware. Lenders will loan the company $75 million and it will get additional cash of $135 million during its reorganization. Rural/Metro was acquired by Warburg Pincus for approximately $438 million in 2011.