The rush of money into city political campaigns was not just limited to candidates. Campaigns for several San Francisco ballot measures had price tags in the neighborhood of $1 million.
Based on recent filings with the Ethics Commission, the largest spending on ballot measures was for the $195 million parks bond and on the measure to replace San Francisco’s business payroll tax with a tax on gross receipts. Both campaign war chests were about $1 million. Read More
After more than a decade of conversation, San Francisco voters will finally have the opportunity this November to replace The City’s tax on employee payrolls with a tax on the revenues that businesses bring in.
The 1.5 percent tax on business payrolls in excess of $250,000 has long been maligned as a “job killer” and a disincentive for companies to do business in San Francisco, the only city in California with such a tax. Read More
Zynga Inc.’s chief marketing officer resigned Monday, becoming the latest senior executive to depart the struggling social-gaming company behind popular Facebook games such as “FarmVille.”
Jeff Karp joins Chief Operating Officer John Schappert and Chief Creative Officer Mike Verdu among the top executives who have quit since August. Read More
A California law firm representing a stockholder has filed a class-action lawsuit against Zynga accusing the game publisher of failing to disclose a rapid decline in users and revenue. Read More
The value of the tax break that apparently kept the social gaming company Zynga from fleeing San Francisco for friendlier business environs could have exceeded $6 million.Zynga is expected to receive that benefit next week when it files its payroll taxes and exercises a tax exemption created to woo tech companies. Read More
With the passing of Warren Hellman last month, a classic generation of San Francisco philanthropic business leaders came to an end, leaving a major void. Read More
The death of San Francisco philanthropist Warren Hellman was felt across The City by the organizations he helped and the people who benefited from his generosity.
Although Hellman was best known for creating and funding the Hardly Strictly Bluegrass festival, he also gave money to education and arts causes across the Bay Area through his family foundation. Read More
Among the most monumental political challenges expected in 2012 is the overhaul of San Francisco’s business tax, an effort that has eluded politicians for more than a decade.Changing the tax’s structure is difficult, since it means businesses that aren’t hit with The City’s payroll tax will have to start paying levies if the system reverts to a gross receipts tax, which is the most likely alternative. Read More
Following its Friday initial public offering of stock, online game developer Zynga is positioned to become the first company to benefit from San Francisco’s recently adopted tax break on the sale of stock options.Yet The City also could benefit from the company’s IPO by setting a record for option-related payroll tax revenue from a single company. Read More
A former Zynga temp worker who decided to make off with tens of thousands of dollars worth of company computers won’t face jail time after pleading guilty Wednesday to felony commercial burglary.
Keith Brown, 21, of San Ramon was arrested Nov. 15 after taking about 30 laptops from Zynga’s offices over two weeks, police and prosecutors said. Read More