From the archives

As many as 600 employees of Bay Meadows race track were set to lose their jobs November 2007 after the California Horseracing Board the week of March 23, 2007 decided not to grant an exemption to a new safety rule requiring tracks to install a synthetic racing surface that would have cost up to $10 million.

The track was approved for future development but many believed it would be granted an exemption and operate for another year or two while the Bay Meadows Land Company solidified the specific redevelopment of its 83.5-acre property.

In a 4-2 vote, the California Horseracing Board denied a request by the Bay Meadows Racing Association for a two-year waiver to install synthetic racing surface. Track operators were seeking the extension to avoid spending an estimated $8 million to $10 million on the new track when it expected to close it in approximately two years.

Apartment fees backdated

Apartment building owners were set to start receiving bills in the mail for fire inspections conducted more than a year prior after the Belmont-San Carlos Board of Directors voted the week of March 23, 2007 to back bill for services.

The fees, charged by most other cities, were suspended in 2005 by former fire Chief Chuc Lowden when it appeared the department — once known as the South County Fire Authority — would dissolve or seek an assessment tax to supplement its growing budget crisis. The tax failed in both Belmont and San Carlos the prior November.

Once reinstated, the fees for state-mandated fire inspections of all apartments with more than two units would raise approximately $170,000. The bills are sent out on a two-year cycle. By back billing, the department was to likely recover approximately $85,000.

Virgin America cleared

Virgin America was given the go-ahead to position itself for takeoff the week of March 23, 2007 when the U.S. DOT gave the Burlingame-based company a tentative OK to fly if it makes major changes previously suggested, such as ousting CEO Fred Reid.

The Department of Transportation’s tentative approval of Virgin America meant the revised plan met U.S. ownership rules capping foreign control at 25 percent. The DOT accepted all the suggestions to cut the appearance of foreign influences and even added a few.

The DOT in December 2006 tentatively denied the Burlingame-based company rights to operate until it could prove 75 percent of the company is owned or controlled by U.S. citizens. Virgin America responded in January with a laundry list of concessions it was willing to make.

Home sales rising

Sales of existing homes rose in February 2007 by the largest amount in nearly three years, it was announced the week of March 23, 2007 but worsening troubles in subprime mortgages were viewed as a roadblock to a full-fledged rebound.

The National Association of Realtors reported that week existing home sales climbed 3.9 percent the prior month, pushed up by a milder-than-normal winter that boosted sales in areas of the country such as the Northeast.

It was the biggest one-month gain since March 2004 and left sales at an annual rate of 6.69 million units, a pace that was still 3.6 percent below a year prior.

On Wall Street, the Dow Jones industrial average rose by 19.87 points to close at 12,481.01 as investors were encouraged by the better-than-expected showing on home sales.

From the archives highlights stories originally printed five years ago this week. It appears in the Thursday edition of the Daily Journal.