Previously published on April 14, 2016 on  Most commentary on California’s decision to increase the state minimum wage to $15 over time is either along the lines of it being a boon to minimum-wage workers and their families or a disaster for California’s economy.  Neither is accurate.  Different regions sill see different outcomes.  Central… Read more

Large banks (think of Wells Fargo, Citicorp, JP Morgan and Bank of America) today hold equity capital roughly equal to about ten percent of total assets.  Inverting that ratio we get assets to equity of ten times or leverage as commonly defined (debt divided by equity, instead of assets divided by equity) of nine times. … Read more

By Bill Watkins – Previously Published in the Pacific Coast Business Times In popular culture, there are “good” industries and “evil” industries. Oil has held the most hated position of the evil list for generations and is likely to hold it until there is no more oil. Farming, once solidly on the good list, is… Read more