Daily Business Report: Monday, November 3, 2025
Elo-Rivera Wants City to Build Solar to Combat High Water Rates
By MacKenzie Elmer | Voice of San Diego
What if San Diego blanketed land, reservoirs and buildings its Public Utilities Department owned with solar and used the money it made off that power to subsidize skyrocketing water rates for poorer people?
That’s the idea San Diego City Councilmember Sean Elo-Rivera pitched during an uncomfortable series of debates over raising water rates on San Diegans by 63 percent over the next four years. The Public Utilities department owns 42,550 acres of land – about the size of Washington D.C. It could, in theory, lease that land out to solar developers and help bring down water rates, fix dams or otherwise prop-up a city department key to ensuring water is treated and distributed to 1.4 million people.
“We need to be more aggressive about finding sources besides ratepayers to find revenue,” Elo Rivera said during a 30-percent water rate increase vote on Oct. 28.
Even California’s iconic industries are cutting back in this sluggish economy
By Dan Walters | CalMatters
As Gov. Gavin Newsom ramps up what appears to be a 2028 White House bid, a mainstay of his pitch during television interviews and social media appearances is California’s economy.
As Newsom tells it, the state’s $4-trillion-plus annual economic output is not only the fourth largest in the world, were it a nation, but it’s a model of entrepreneurial vigor and programs advancing equity.
Were it only true.
A year ago, the Legislature’s budget analyst, Gabe Petek, indirectly blew the whistle on Newsom’s braggadocio.
US Economic Impact on San Diego Lodging Industry
By Robert Rauch | Hotel Guru
According to Bernie Baumohl of the Economic Outlook Group, a recession is unlikely. While Baumohl says the Trump presidency represents an unknown entity, tariffs, the Federal Reserve, and inflation are all in play. Immigration has undoubtedly played a role in this president’s agenda, and stagflation is possible. But stocks are up, credit spreads are tight, and spending is still alive and well.
Unemployment is still low at 4.3%, while gold prices remain near record highs. Are there cracks in consumer spending? Well, household debt is high, but net worth is at record levels. Further, 65 % own homes and 60 % own stocks. Not a bad picture!
Yes, Trump has vilified allies, saddled courts, and frustrated Americans with uncertainty. Will the midterm elections impact Trump’s moves? Will he change course, as most presidents have, when facing adversity? Consumer spending and retail sales are up, and people are still dining out even after inflation is factored in.
