The median home prices dropped $15,000 from August in Orange County, in the month of September. And, as a result sales volumes continued to increase over year- ago levels.

Last month, the median price of an Orange County home was $425,000, and if we compare the price of August, it was a 3.4 percent decline from that. In August, the median home price was $440,000. Now, the county’s home prices are off $145,000 or 25 percent from a year ago and about 34 percent from June 2007, that which was county’s all-time high prices. (more…)

Orange County’s morning news program, “Daybreak OC,” that had been telecast on Santa Ana-based TV station, called KDOC has come to an end. The popular news show was launched to compete with various other news shows produced in Los Angeles and it first went on air on September 10, 2007. According to the owner of KDOC- TV Bert Ellis, the deteriorating economy, especially the sagging advertising market made the show too expensive to produce.

“We have tried to provide a voice for Orange County with ‘Daybreak OC,” said Bert Ellis. “Unfortunately, the L.A. advertising market has declined precipitously and is just too weak to support ‘Daybreak OC,’ which is an extremely expensive proposition for our station.” (more…)

Aliso Viejo based software maker Quest Software Inc., is helped by its own Buyback plan to defy Wall Street Selloff.

Quest Software shares closed up 5% on a market value of almost 1.2 billion dollars. A lot of people who were investing in the stock began to react to the company’s announcement that it is planning to buy back $135 million to $400 million worth of its shares.

Wall Street generally likes buybacks. It is due to the fact that buybacks boost a favorite number of analysts and investors—profits expressed on a per share basis. (more…)

The votes were held by the congressional members of the Orange County, as the revisions that were done to the financial bailout plan did little to sway their votes from Monday’s first pass at the plan.

There was a split of 3-3 for the delegation for the approval of the revised bailout that came out on Friday.

Loretta Sanchez, the delegation’s only Democrat and the one who represents parts of Santa Ana, Garden Grove and Anaheim, kept her “no” vote from Monday (more…)

The six U.S. representatives from Orange County split on the vote for the government’s emergency financial bailout plan, that was held on last Monday. Three representatives out of the six supported the legislation, while rest voted against the same.

John Campbell, who represents Irvine, parts of Newport Beach and South County voted for the emergency rescue package and urged his colleagues to support the legislation. “I desperately hope and pray that we as a body, Democrats and Republicans alike, have the courage to pass this bill,” said Campbell. Other two Orange County representatives who joined him were Ken Calvert and Gary Miller. (more…)