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Home My WebLink AboutTC Digest 2008-10-17 (2) DIGEST WESTERN TRAFFIC SERVICES, 82 RODEO AVENUE, SAUSALlTO, CA 94965, TELEPHONE: (4 t 5) 332-2766 EMAlL: RSGREITZ@COMCAST.NEr October 9, 2008 Calendar Clerk, Docket Office CAL PUBLIC UTILITIES COMNISSION 505 Van Ness Avenue San Francisco, CA 94102 RECEIVED OCT 1 4 Z008 TOWN MANAGERS OFFICE TOWN OF TIBURON Dear Sir or Madame: Pursuant to General Order 158 of the California Public Utilities Code we are enclosing the Original and eight (8) oopies of an Application filed on behalf of Marin Airporter, PSC No. 990, whereby we respectfully request authority to establish a new Rate Basis and expand a Zone of Rate Freedom, (ZORF), under authority contained in Section 453.2 of the California Public Utilities Code and depart from Section 491 of said code on behalf of the Applicant, Marin Airporter, PSC No. 990 Additionally, we have submitted herewith an extra copy of the aforementioned Application for you to mark with the Application number and date of filing which we serve as an acknowledgement of receipt of the Application, and return to the writer We have also included a stamped self address envelope to be used for this purpose. Yours Truly, Robert S. Greitz, Western Traffic Services On behalf of Marin Airporter CC: Marin Airporter Service List \lv- ~ r~ .) (Q - ".J /~lJ ArfllC2t-ft~ zt+ T tJW"lA H-u1 :pr.ffYl-f J)esk. BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA Application of Randy Kokke President, of Marin Airporter, PSC No. 990, requesting authority to obtain a new Zone Rate Freedom, (ZORF) iri Marin Airporter, Local Tariff No. I-B CA P.U.C. No.3 containing rates and fares of this common Carrier for the transportation of Passengers and their baggage and the performance of specified services related thereto, as authorized by Section 452.2 of the Public Utilities Code And APPLICATION NO. For authority to depart from the terms of the prov-isions of Sec'Eicn 491 of said Code when accomplishing such publication. Date Filed APPLICATION FOR EXPARTE RELIEF AND REQUEST FOR ZONE OF RATE FREEDdM--- The Application of Randy Kokke, President of Marin Airporter, 8 Lovell 'Avenue, San Rafael; California, 94901, Telephone No. (415) 256-8833, (hereinafter referred to as Applicant) acting as President of Marin Airporter, (Hereinafter referred to as M~rin) respectfully shows: I Marin is a California Corporation operating as a Passenger Stage Corporation under authority contained in PSC No. 990 of the California Public Utilities Commission. Marin's Articles of incorporation were previously filed with the Commission. This Application respectfully shows: Correspondence and communications regarding this Application should be directed to: Robert S. Greitz, of Western Traffic Services, Inc. 82 Rodeo Avenue Sausalito, CA 94965 Telephone No. {415} 332-2766 Tele-eo~ier No. 415) 332-2766 E-Mail Address;RSGreitz@comcast.net 1 II By this filing, Marin, hereby requests authority to establish its current Zone of Freedom Rates (Hereinafter referred to as ZORF) as its Base Rates and to establish a New ZORF respectfully shows. III This Application is based upon the following facts and circumstances. This is the third Application filed on behalf of Marin under the Zone of Rate Freedom program On April 24, 1995, Under the authority contained in Section 452.2, Marin filed Application No. 95-04-049 requesting to establish a Zone of Rate Freedom, The Commission granted that Application on June 21, 1995 in Decision No. 95-06-042 and Marin filed Application No. 02-03-037 requesting to establish it's ZORF as it's new Base Rate and establish a new ZORF, The Commission granted that Application on June 05, 2003 in Decision No. 03-06-014 and over the years Marin exercised the authorities contained in the newly established ZORF of five dollars above or below it's Base Rates. However, the last application of the ZORF contained in Decision No. 03-06-014 shows that Marin has exercised the entire ZORF on certain fares. IV An examination of the comparative Profit and Loss Statement (See Exhibit "An) will show in the year 2006, Marin enjoyed revenue from Airporter operations of $5,797,779. 2006 expenses totaled $5,816,128 providing a negative pretax income of ($18,349} producing an operating ratio of 101 in the year 2007, Marin enjoyed revenue from Airporter operations of $6,328,038. 2007 expenses totaled $6,149,931 providing pretax income of $178,107, producing an operating ratio of 97%, in the first six months of 2008 Marin enjoyed revenue from Airporter operations of $3,335,382. The first six months of 2008 show expenses totaled $3,260,114 providing pretax income of $75,268 See Exhibit "B". The reason for the increased revenue 2006 vis-a-viS 2007 was that due to spikes in consumer gasoline prices, many travelers are opting to use public transport to get to the airport, how lon~ will that trend continue is unknown. - - ~ Faced with the losses of 2006 and slim profit of 2007 this carrier embarked upon cost cutting measures such as selling excess equipment, reduction in staff, postponement of purchases of new equipment. On January 1, 1997, Marin established an Employee Stock Ownership Trust (ESOT) covering substantially all full-time employees meeting age and length of service requirements. The plan is a qualified Employee Stock Ownership P1:ein (ESOP). To "date "ove'r the life 'of the plan 648.843 'shares of stock ESOT. These cost savings have helped the carrier to continue operations. However, employees continue to expect health and welfare programs, the cost of which cOhtinue to increase dramatically and Marin's fleet of buses continue to age the newest being manufactured in the year 2001, replacement costs now exceed $400,000 per vehicle. 2 In view of the current financial crlS1S it is unclear what levels of commercial credit will be available in the near future, tires, parts, fuel and maintenance costs continue to increase; this carrier clearly is in dire need of rate relief. Exhibit "E>>, attached hereto and by reference made a part hereof, shows various economic tables, such as the u. S. Department of Labor Producers Price Indices, (PPI) and the Current Consumer Price Indices, (CPI) for All Items, San Francisco Bay Area, Currently, both of which show increases. In the period 2003- 2007 The CPI shows an increase of 19.65 points and the PPI shows an increase of shows an increase 7.30%. At the present time the economy is in recession, in view of the current financial crisis it is unknown if these pressures will worsen, if they do inflation will follow and escalate to higher levels. Also included the Department of Energy, Average Cost of Diesel Fuel for the last 52 weeks. While the Commission previously did authorize Fuel Surcharge Program, that authori ty has been cancelled. While the cost of fuel has recently spiked to levels in excess of $4.00 per gallon since mid March through September 2008 that cost is well above the $2.50 pe~ gallon that was in effect in January 2007. The carrier operates on half-hour schedules between Marin County and San Francisco Airport. It does not want to reduce operations nor its schedules To deny granting this request will result in a diseconomy to the passengers of Marin in that due to reduced schedules, the former Marin passengers may be compelled to seek other means to ride to and from the San- Francisco Airport. Also, to decline this request will result in an unnecessary burden on the environment, as former bus-riding patrons will certainly add more vehicles to the already crowded Highway 101 corridor not to mention air pollution in that more unburned carbon fuels will be released into the atmosphere. Marih is the primary Marin County airport ground transportation operator and it must be allowed to meet the needs of its bus-riding patrons and the only way it can do that is maintain profitable operations. 3 v In compliance with Rule 23 of the Commission's Rules of Practice and Procedure, the following Exhibits are appended to the instant Application and herein made a part hereof: Exhibit "An (Rule 23 (a)) - Balance Sheet for Marin together with an Ihcome Statement for the years 2006 and 2007. Also in accordance with Rule 23 (d)) - A statement of Applicant's property and equipment. (See Account's Notes) Exhibit "B" {Rule 23 (a)) - A statement of Income and Expenses for Marin together with an Income Statement for the first six months of the year 2008 and statement of the effects of granting this Application. Exhibit "c" {Rule 23 (b)) - A statement of Applicant's presently effective tariff rates and services. Exhibit "0" (Rule 23 (c)) - A statement of Applicant's Proposed tariff rates and services. Exhibit "E" Statistical Tables VI Marin manifests that it has no knowledge of any rider, carrier, or other party that would oppose the granting of this Application. VII Applicant has endeavored to comply with the known commission requirements in the preparation of this Application. Applicant also stands ready to cooperate in furnishing other data that may reasonably be available and helpful to the Commission or its staff in the consideration of this Application. In addition., the request made herein is consistent with the public interest and is consistent with the carrier-made rate programs of the Commission, under the circumstances, Applicant believes that this is a matter, which can be handled by Ex Parte Order of the Commission. In the event a public hearing is deemed necessary, it is requested that such hearing be set at any early date. If necessary, Applicant will stand ready to proceed on any date convenient to' the Commission. 4 Applicant hereby affirms the proposal contained herein is not a major action significantly effecting energy efficiency within the meaning of Section 3502.1 of the California Public Utilities Code. VI-I-I WHEREFORE, Applicant prays that the Commission issue its Ex Parte Order, authorizing: (1) Marin to depart from the provisions of General Order No. 158; (2) Applicant to publish and file to establish a new set of Base Rates shown in Exhibit "D", and to apply increases in the tariff named in Paragraph II hereof, for the account of Marin and to be able to apply such increases in varying (staggering) amounts over its entire base. , the increase/decrease not to exceed five dollars ($5.00) of the total new base rate or fare; (3) Applicant to adjust it's charges pursuant to Section 452.2 of the California Public Utilities Code for establishing and maintaining the authorized increases; (4) Authorize the Applicant to depart from Section 491 of the California Public Utilities Code to adjust its rates within its ZORF to become effective on not less than ten {10} days notice to the general public and the Order issued by the Commission shall be effective on the day it is signed. And also, authorize departure from Section 1033 of the Public Utilities Code; and, (5) Such other and further relief as may be deemed just and equitable under the premises. Executed on October 8, 2008 at San Rafael, California By: Randy Kokke, President Marin Airporter 5 VERIFICATION I am the President of the Applicant Corporation herein, and I am authorized to make this verification on its behalf. The statements in the foregoing document are true of my own knowledgel except as to matters which are therein stated on information and belief and to those matters I believe them to be true. I declare under penalty of perjury, that the foregoing is true and correct. Executed on October 8, 2008 at San Rafael, California By: Randy Kokke, President Marin Airporter (Last Page) 6 SERVICE LIST City Manager Corte Madera Town Hall 300 Tamalpais Drive Corte Madera, CA 94925 City Manager Larkspur City Hall 400 Magnolia Avenue Larkspur, CA 94939 Marin County Administrator 3501 Civic Center Drive, Room 325 San Rafael, CA 94903 Mill Valley City Manager 26 Corte Madera, Post Office Box 1029 Mill ValleYI CA 94941 Novato City Manager Novato City Hall 901 Sherman Avenue No~ato, CA 94945 San Francisco Airport Commission 'San Francisco International Airport San Francisco, CA 94128 San Rafael City Manager San Rafael City Hall 1400 Fifth Avenue San Rafael, CA 94901 Sausalito City Manager Sausalito City Hall 420 Litho Street Sausalito, CA 94965 Tiburon Town Administrator Tiburon Town Hall 1505 Tiburon Boulevard Tiburon, CA 94941 "EXHIBIT An APPLICANT'S ANNUAL REPORT MARIN AIRPORTER FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 and 2006 TOGETHER WITH ACCOUNTANT'S REPORT G H I R A R D 0 CPA 7200 Redwood Blvd., Suite 403, Novato, California 94945 (415) 897-5678 · fax (415) 897-5030 www.ghirardocpa.com GHIRARDO CPA telephone (415) 897-5678 7200 Redwood Blvd., Suite 403 Novato, California 94945 www.ghirardocpa.com (415) 897-5030 facsimile Accountants' Compilation Report To the Board of Directors and Stockholders of Marin Airporter: We have compiled the accompanying balance sheets of Marin Airporter (a California corporation) as of December 31, 2007 and 2006, and the related statements of net income and comprehensive income, changes in stockholders' equity, and cash flows for the years then ended, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. \ We are not independent with respect to Marin Airporter. ~ C!/l May 15, 2008 MARIN AIRPORTER BALANCE SHEETS DECEMBER 31, 2007 AND 2006 ASSETS 2007 2006 CURRENT ASSETS Cash & Cash Equivalents (Notes 2 & 3) $ 943,511 $ 921,266 Marketable Securities (Note 4) 1,481,857 1,858,586 Accounts Receivable (Note 2) 92,066 91,857 Current Portion of Note Receivable (Note 11) 9,946 19,545 Prepaid Expenses 60,506 71,905 Prepaid License Fees 32,605 32,265 Prepaid Income Taxes 58,559 TOTAL CURRENT ASSETS 2,620,491 3,053,983 PROPERTY & EQUIPMENT (Note 2) Land 826,767 826,767 Buildings 834,907 834,907 Transportation Equipment 5,469,210 4,941,533 Office Furniture & Fixtures 26,140 18,820 Maintenance Equipment 182,870 182,870 Leasehold Improvements 1,387,713 1,387,713 8,727,607 8,192,610 Less: Accumulated Depreciation (5,890,315) (5,526,419) TOTAL PRO?ERTY & EQUIPMENT, NET 2,837,292 2,666,191 OTHER ASSETS Loan Fee, Net 2,201 2,634 Long-Tenn Note Receivable (Note 11) 9,995 Deposits 261,171 221,004 Class A License 15,000 15,000 Water Entitlement 22,400 22,400 Paid-up Life Insurance (Note 5) 156,572 156,572 Membership in Lrlsura.a'lCe Cooperative (Note 6) 36,000 36,000 TOTAL OTHER ASSETS 493,344 463,605 TOTAL ASSETS $ 5,951,127 $ 6,183,779 See accompanying notes and accountants' compilation report. I -I 2 MARIN AIRPORTER BALANCE SHEETS DECEMBER 31,2007 AND 2006 LIABILITIES AND STOCKHOLDERS' EQUITY 2007 2006 CURRENT LIABILITIES Accounts Payable $ 123,359 $ 78,947 Customer Deposits 3,021 5,661 Accrued Expenses 184,962 169,263 Income taxes payable 102,064 ESOP Contribution Payable 50,000 Deferred Tax Liability - Current (Note 8) 25,000 54,187 Current Maturities of Notes Payable 168,000 99,213 TOTAL CURRENT LIAB~ITIES 606,406 457,271 LONG-TERM DEBT (Note 7) Notes Payable 1,339,366 1,040,083 Less: Current Maturities of Notes Payable (168,000) (99,213) TOTAL LONG-TERM DEBT 1,171,366 940,870 OTHER NON-CURRENT LIAB~ITIES Deferred Tax Liability - Non-current (Note 8) 49,200 18,876 TOTAL LIABILITIES 1,826,972 1,417,017 STOCKHOLDERS' EQUITY Common Stock (no par value) 7,500 shares authorized; 874 shares issued and 726.455 shares outstanding 21,507 21,507 Unearned ESOT Shares (Note 10) ( 698,529) Redeemed ESOP Shares (Note 12) (649,926) (496,710) Retained Earnings 5,339,537 5,102,275 AccUll1ulated Other Comprehensive Income (Note 4) 111,566 139,690 TOTAL STOCKHOLDERS' EQUITY 4,124,155 4,766,762 TOT AL LIAB~ITIES & STOCKHOLDERS' EQUITY $ 5,951,127 $ 6,183,779 See accompanying notes and accountants' compilation report. 3 MARIN AIRPORTER STATEMENTS OF NET INCOME AND COMPREHENSNE INCOME FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006 See accompanying notes and accountants' compilation report. 4 MARIN AIRPORTER STATEMENTS OF NET INCOME AND COMPREHENSNE INCOME FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006 2007 2006 (Continued) NET INCOME (LOSS) FROM OPERATIONS $ 178,107 $ (18,349) OTHER INCOME (EXPENSE) Interest & Dividend Income 105,923 93,377 Gain (loss) on Sale of Marketable Securities 125,232 6,782 Gain on Sale of Property & Equipment 901 3,000 Other Income 28,274 21,800 Interest Expense (77,055) (75,150) Amortization ( 433) (433) TOTAL OTHER INCOME (EXPENSE) 182,842 49,376 INCOME BEFORE INCOME TAXES 360,949 3 1,027 BENEFIT FROM (PROVISION FOR) INCOME TAXES (123,687) 25,839 NET INCOME 237,262 56,866 OTHER COMPREHENSNE INCOME, NET OF TAX Unrealized gain (loss) on marketable securities, net of deferred income taxes (Note 4) (28,124) 54,719 COMPREHENSNE INCOME $ 209,138 $ 111,585 // See accompanying notes and accountants' compilation report. 5 . ~'-O E-<o So C/C'l ~~ C/)< ~t- ~o 00 ~C'l 0....... ~Q~ ~u~ ~~~ ~~~ <~o !~~ u~ ~C/) O~ ~~ z~ ~E-< E-<~ ~~ C/) C1) "1:l ,::: E m JS~~S :::S...s:::...s::: 0 a....eu :::sO P-l:: g 6 ~ < 8 "1:l m C1)M ,S,S .a S C1) t':S ~~ "1:l C1) a A.. ~ C1) 0 a C1)C/)..c:: ~~C/) ~ "1:l C1) E-< m ~O ~ C1)C/)..c:: 8~C/) l:: o~ ~B oc/) u ~ .... o E-< "<:t 00 V) r-"' 00 V) ~ ~ t- 0\ "<:t~ 00 ~ 00 '-0 V) '-0 "<:t~ 00 V) '-O~ "<:t V) o -n ~ --. 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M ~ C1) ~ C1) u C1) o C1) .U ~ ~ co m C1) .... o l:: 0.0 j:;:: ';>. ~ P- 6 o u U t':S C1) C1) CI) ..~ MARIN AIRPORTER STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006 2007 2006 Cash flow from operating activities: Net Income $ 237,262 $ 56,866 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation & Amortization 392,313 431,626 (Gain) Loss on Sales of Securities and Equipment (126,133) (9,782) Changes in operating assets and liabilities: Accounts Receivable (209) (53,275) Prepaid Expenses 11,059 1,453 Prepaid Income Taxes 58,559 (39,449) Deposits (40,167) (78,009) Accounts Payable 44,412 (23,332) Customer Deposits (2,640) (3,877) Accrued Expenses 15,699 11 ,961 Income Taxes Payable 102,064 Deferred Tax Liability 1,137 39,947 ESOP Contribution Payable (50,000) 50,000 Net cash provided by operating activities 643,356 384,129 Cash flows from investing activities: Proceeds from Sales of Property and Equipment 900 3,000 Purchase of Property & Equipment (147,980) (185,071) Proceeds from Salys of Securities 881,241 889,890 Purchase of Securities (407,404) (1,053,031) Principal Payments Received from Note 19,594 19,008 ~ , Loan to ESOT for stock purchase (948,529) Principal Payment from ESOT Note (Note 10) 250,000 150,000 Decrease in Fair Value of Released ESOP Shares (49) Purchase to Redeem ESOP Shares (153,216) (82,358) Net cash used in investing activities (505,394) (258,611) Cash flows from financing activities: Principal Payments on Long-Term Debt (115,717) (120,889) Net cash used in financing activities (115,71 7) ( 120,889) Net increase in cash and cash equivalents 22,245 4,629 Cash and cash equivalents at beginning of year 921,266 916,637 Cash and cash equivalents at end of year $ 943,511 $ 921,266 See accompanying notes and accountants' compilation report. 7 MARIN AIRPORTER STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31,2007 AND 2006 2007 Supplemental disclosure of cash flow information: Cash paid during the year for: Interest Income Tax Payments (Refunds) $ 77,055 Noncash investing and financing transaction: Borrowing to finance equipment acquisition $ 415,000 See accompanying notes and accountants' compilation report. 2006 $ $ 75,150 (61,110) 8 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 1 - Organization of Business Marin Airporter, the Company, is engaged in the transportation of passengers to and from a local airport 'and in providing bus charter and tour services. Generally 70% to 75% of the company's revenues are derived from transportation to and from San Francisco International Airport. The Company was incorporated in California on September 24, 1975 and is regulated by the Public Utilities Commission. The Company is closely held by an officer and a director of the Company, together with an employee stock ownership trust described in Note 10. Note 2 - Summary of Significant Accounting Policies Property and Equipment - Property and equipment are recorded at cost. For book purposes the Company depreciates its fixed assets using the straight-line method over the estimated useful lives of the related assets, ranging from two to forty years. Office furniture and fixtures and transportation equipment lives are three to eight years. Maintenance equipment lives are three to five years. Leasehold improvements and bus terminal lives are two to forty years. Accelerated methods are used for income tax purposes for selected fixed assets where it is allowed. Expenditures for normal maintenance and repairs are charged to expense as incurred. When assets are disposed of, the costs and related depreciation are removed from the accounts and any gain or loss on disposal is included in other income ( expense). Spare parts and vehicle supplies - Such items are expensed when purchased. The total value of the items on hand is not material and does not fluctuate significantly from one period to the next. Income taxes - The Company reports income taxes in accordance with SF AS No. 109 "Accounting for Income Taxes", which requires an asset and liability approach in accounting for income taxes. Accordingly, deferred tax assets and liabilities arise from the differences between the tax basis of an asset or liability and its reported amount in the financial statements. Deferred tax amounts are determined by using the tax rates expected to be in effect when the taxes will actually be paid or refunds received, as provided under currently enacted tax law. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable for the period plus or minus the change during the period in deferred tax assets and liabilities. Cash and cash equivalents - Cash equivalents consist of highly liquid investments with original maturities of three months or less. Cash and .cash equivalents as of December 31, 2007 and 2006 consisted of the following deposits with fmancial institutions: Money market mutual funds Cash deposits with banks $ 2007 77,671 $ 865,840 943,511 $ 2006 47,095 874,171 921,266 $ See accountants' compilation report. 9 ...~ MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 2 - Summary of Significant Accounting Policies - continued Trade Accounts Receivable - Accounts receivable are considered to be fully collectible at December 31, 2007; accordingly, no allowance for doubtful accounts has been set up. If any amounts become uncollectible, they will be charged to operations when that determination is made. Amortization - Loan fees are amortized on a straight-line basis over the life of the loan. Advertising - The Company expenses advertising costs as they are incurred. Advertising expenses for the years ended December 31, 2007 and 2006 were $10,764 and $21,001, respectively. Comprehensive Income - The Corporation accounts for comprehensive income in accordance with SFAS No. 130 "Reporting Comprehensive Income", which requires comprehensive income and its components to be reported when, a company has items of comprehensive income. Comprehensive income includes net income plus other comprehensive income (Le. certain revenues, expenses, gains and losses reported as separate components of stockholders' equity rather than in net income). Use of Estimates - The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Note 3 - Concentrations of Credit Risk Financial instruments that subject the Company to potential concentrations of credit risk consist principally of temporary cash investments. The Company has concentrated its risk with regard to cash by placing most of its temporary cash investments in one financial institution. Substantially all deposits exceed existing federal deposit insurance coverage. Cash and cash equivalents are deposited with financial institutions that management believes are credit worthy. Note 4 - Marketable Securities The Company has investments in marketable securities that are held for an indefinite period and are deemed available-for-sale securities. Securities categorized as available-for-sale are stated at fair value, with unrealized gains and losses, net of deferred taxes, reported in the stockholders' equity section of its balance sheets as "accumulated other comprehensive income" in compliance with the provisions of SF AS No. 115 "Accounting for Certain Investments in Debt and Equity Securities". See accountants' compilation report. 10 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 4 - Marketable Securities - continued Amounts were as follows as of December 31,2007 and 2006: 2007 Estimated Unrealized Market Value Cost Gain (Loss) Certificates of Deposit $ 74,994 $ 74,892 $ 102 Federal Home Loan Bk 52,505 51,195 1,31 0 US Government Bond Funds 161,451 153,086 8,365 Corporate Bond Funds 111,142 108,439 2,703 International Bond Funds 115,074 109,906 5,168 Domestic Stock Funds 599,396 534,291 65,105 International Stock Funds 300,209 204,932 95,277 BarclayBK PLC IP A TH Index 67,086 59,650 7,436 $ 1,481,857 $ 1,296,391 185,466 Deferred Tax (73,900) Net Unrealized Gain $ 111,566 2006 Estimated Unrealized Market Value Cost Gain (Loss) Certificates of Deposit $ 179,879 $ 180,431 $ (552) Federal Home Loan Bk 51,644 51,195 449 Federal Nat'l Mtg Assn 99,417 98,240 1,177 US Government Bond Funds 214,396 217,691 (3,295) Corporate Bond Funds 173,944 175,000 (1,056) International Bond Funds 124,493 125,153 (660 ) Stock Funds 950,701 713,767 236,934 DJ AIG Commodity Index Ern 64, III 64,932 (821) $ 1,858,585 $ 1,626,409 232,176 Deferred Tax (92,486) Net Unrealized Gain $ 139,690 The Company recorded a year 2007 decrease to stockholders' equity of $28,124 which represents the $46,710 decrease in unrealized gains, less the related decrease in deferred taxes of$18,586. The net increase to stockholders' equity for 2006 was $54,719 which represents the $90,947 increase in unrealized gains, less the related increase in deferred taxes of $36,228. See accountants' compilation report. 11 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 5 - Paid up Life Insurance The Company maintains split dollar insurance policies on two individuals. Under the terms of the contract, upon the death of an insured or other termination of a policy, the Company will be reimbursed from the proceeds of the policy for the premiums paid. The total premiums paid are $ 1 56,572 which is included in other assets in the accompanying balance sheets. Note 6 - Membership in Insurance Cooperative In August 2004 Marin Airporter made a $36,000 redeemable stock investment in a closely held cooperative insurance company consisting of approximately 50 members. This company is acting as a reinsurer in the commercial insurance program underwritten for participating subscribers. The program covers the risks of general liability, auto liability and workers' compensation. Approximately 37% of the premiums paid by Marin Airporter to this insurance company are set aside in a fund (Fund A) to cover claims of less than $100,000 per incident against Marin Airporter. Approximately 8% of Marin Airporter's premium, as well as a similar percentage of the other members' premiums, are placed in a common fund to cover claims from $100,000 to $300,000 against all members. The remaining 55% of all subscribers' premiums are used to purchase reinsurance to cover any claims exceeding $300,000 up to $5,000,000 and to cover fixed costs. If Fund A is not exhausted by Marin Airporter claims (of under $100,000 per incident), the balance in this fund (less certain fixed expenses) for each policy year will be returned in the form of a dividend at the close of the insurance period ending no earlier than three years after the end of the policy year. If Marin Airporter claims exceed the amount in Fund A for any policy year, Marin Airporter could be assessed an additional premium not to exceed the amount of premium originally allocated to Fund A for that policy year ($ 1 40,514 for the 2005/2006 policy year, $121,005 for the 2006/2007 policy year, and $108,497 for the 2007/2008 policy year). The Company is required to deposit two thirds (2/3) of these premiums with the cooperative. Accordingly, the 2007 and 2006 Company's balance sheets include deposits of $246,677 and $206,510, respectively. While the Company's Fund A loss experience since inception of the company's participation was less than the premiums allocated to this fund, there is insufficient information to estimate the potential future reimbursement or additional premium obligation (if any). Accordingly, no asset or liability has been recorded on these financial statements for such items. See accountants' compilation report. 12 ~~ , MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 7 - Long-Term Debt The Company is liable for the following debts as of December 31,2007 and 2006: 2007 2006 Note payable to a leasing corporation with interest at 5.36%, secured by three company vehicles, payable at $12,107 per month including interest; matures July 16,2009. $ 123,303 $ 210,566 Note payable to a bank with interest at 6.96%, secured by two company vehicles, payable at $8,210 per month including interest; matures in September 2012. 397,490 Note payable to a bank with interest at 7.25%, secured by the land and bus terminal in northern Marin County, payable at $5,962 per month including interest, with a balloon payment due February 15,2013. 818,573 1,339,366 (168,000) $ 1,171,366 $ 829,517 1,040,083 (99,213) 940,870 Less current maturities Future maturities of debt under the preceding agreements, based on the amounts outstanding as of December 31,2007, are as follows: Year Ended December 31 Amount 2008 $ 168,000 2009 133,000 2010 98,000 2011 105,000 2012 87,000 Thereafter 748,366 $ 1,339,366 See accountants' compilation report. 13 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 8 - Income Taxes The current provision for income taxes is based on earnings reported for income tax purposes. A deferred income tax asset or liability is determined by applying currently enacted tax laws and rates to the expected reversal of the cumulative temporary differences between carrying value of assets and liabilities for financial statement and income tax purposes. Deferred income tax expense or benefit is measured by the change in the deferred income tax asset or liability during the year. Deferred tax liabilities arise primarily from the recognition of unrealized gains in marketable securities available for sale and the cumulative excess of depreciation for federal tax purposes over the amount for financial reporting purposes. Deferred tax assets arise from temporary differences in the deduction of accrued vacation payroll costs, the federal deduction of California franchise tax, and the excess of depreciation for financial reporting purposes over the amount for California franchise tax purposes. The following schedule presents deferred tax assets and liabilities that are presented as net deferred tax liabilities in the accompanying balance sheet: Current: Deferred Tax Assets Deferred Tax Liabilities Net Deferred Tax (Liability) - current $ 2007 2006 48,900 $ 38,299 (73,900) (92,486) (25,000) $ (54,187) 2007 2006 17,900 $ 25,471 (67,100) (44,347) (49,200) $ (18,876) $ Non-current: Deferred Tax Asset Deferred Tax Liability Net Deferred Tax Asset (Liability) - non-current $ $ The components of the provision for (benefit from) income taxes are as follows: 2007 2006 Current tax expense: Federal cto 127,267 cto 13,441 .1) .1) California 28,267 1,702 155,534 15,143 Deferred tax expense 19,723 3,720 Federal fuel tax credit (44,998) (44,702) California: prior year capital loss applied (6,572) Total provision (benefit from) $ 123,687 $ (25,839) See accountants' compilation report. 14 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 9 - Lease Commitments One of the Company's terminals is on land that is leased from the Golden Gate Bridge District. The original lease was effective in April 1985 and has been renewed at varying intervals over the succeeding years. On April 1, 2003 the Company executed two separate land leases with the Bridge District, one for the terminal and one for the parking lot. The terminal lease matures in March, 2008 and includes options to renew for three additional five year terms. The Company has exercised the first option to renew the lease through March, 2013. The parking lot lease which had an original matUrity in March, 2006, includes options to renew for five additional three year terms. The Company has exercised the first option to renew the lease through March, 2009. In November 1994, the Company entered into a twenty-year operating lease with two of the shareholders of the Company for a property used as a maintenance facility and' office (see Note 11). The lease contains an escalation clause that provides for increases in base rental amounts to recover increases in future operating costs. The following is a schedule of future minimum lease payments exclusive of any future escalation, required under the above operating leases as of December 31, 2007: Year Ending December 31 Amount 2008 $ 409,147 2009 334,784 2010 309,179 2011 309,179 2012 309,179 Thereafter 326,334 $ 1,997,802 Total rental expense for the years e~ded December 31, 2007 and 2006 was $407,975 and $355,647, respectively. See accountants' compilation report. 15 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31,2007 and 2006 Note 10 - Employee Stock Ownership Trust Effective January 1, 1997, the Company established an Employee Stock Ownership Trust (ESOT) covering substantially all full-time employees meeting age and length of service requirements. The Plan is a qualified Employee Stock Ownership Plan (ESOP) under Section 401(a) of the Internal, Revenue Code. The Plan does not cover any employee whose employment is covered by a collective bargaining agreement in which retirement benefits were the subject of good faith bargaining, unless the agreement provides for participation in this Plan. The Plan was adopted as an amendment and restatement of the Company's Profit Sharing Plan, which was originally effective as of January 1, 1987. The assets under the Profit Sharing Plan were transferred to the ESOP and maintained as a separate account. There have been no added contributions to the Profit Sharing Plan since inception of the ESOP. All employees who were eligible to participate in the Company's Profit Sharing Plan on the adoption date of this Plan were automatically eligible to participate in this Plan as of the effective date. The purpose of the Plan is to enable participating employees to acquire beneficial stock ownership in the Company without personal cash outlay. As stated in the ESOT agreement, the Company stock account of each participant in the ESOP will be credited, as of each anniversary date, with the participants' allocated shares of the Company stock purchased and paid for by the ESOT or contributed in kind by the Company. At the inception of the ESOP plan in 1997, the shareholders of the Company sold 262.2 shares of capital stock to the ESOT for $1,260,000, evidenced by a promissory note between the Company and the ESOT. The final payment on principal was made by the ESOT in 2002. On July 31, 2002, the shareholders of the Company sold an additional 161.487 shares of capital stock \ to the ESOT for $700,000, evidenced by a promissory note between the Company and the ESOT. The note had an interest rate of 5.5% and required annual principal payments of $46,667 or more until the note was fully paid. The final payment on principal of $150,000 was made by the ESOT in 2006. On June 29, 2007, a shareholder of the Company sold an additional 225.15649 shares of capital stock to the ESOT for $998,529. To help finance this purchase, the ESOT borrowed $948,529 from the Company under a note requiring 10 annual payments of at least $94,853 plus interest 6.0% per year. The ESOT typically makes payments equal to the Company's contribution each year. The ESOT has elected to use the "Special Rule" as described in the plan document to compute the amount of shares released each year. Consistent with generally acc~pted accounting principals, the Company does not record interest income related to this not';. The Company recorded a principal payment of$250,000 from the ESOT on this note for 2QJ7. ) ) See accountants' compilation report. 16 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2007 and 2006 Note 10 - Employee Stock Ownership Trust - continued Company stock acquired by the ESOT with the proceeds of the share acquisition loans was credited to a contra account in the equity section of the balance sheet. For each plan year during the duration of the above promissory notes, shares are released from this suspense account as debt service payments are made. The unearned ESOT share activity during 2007 and 2006 consists of following: # of Shares Dollars Unearned ESOT shares at December 31, 2005 Less: Released shares - 2006 Unearned ESOT shares at December 31, 2006 Unearned ESOT shares purchased June 2007 Less: Released shares - 2007 Unearned ESOT shares at December 31, 2007 $ 150,000 (150,000) o 948,529 (250,000) $ 698,529 34.7 (34.7) 0.0 213.9 (56.4) 157.5 Under the terms of the Plan, the Company may make contributions to the ESOP at the discretion of the Board of Directors up to the maximum allowable for tax purposes each year. The Plan Trust may in turn use the contributions to repay the share acquisition loans, invest in the stock of the Company or make other investments (Le., saving accounts, certificates of deposit, etc.) The trustees of the ESOT chose to apply all of the annual contributions since inception first to repayment of the share acquisition loans in order to retire the debt as soon as possible. \ The Company authorized ESOP contributions of $250,100 and $200,000 for 2007 and 2006, respectively. The difference between the cost of the shares acquired from the shareholders and the fair market value at the time those collateralized shares are released is an adjustment that either increases or decreases the ESOP contribution ~xpense. The Company adopted the option of using the prior year-end appraisal for determination of fair market value, which was $4,435 per share and $4,333 per share for 2007 and 2006 transactions, respectively. The result was a book expense of $250,100 and' $199,951 for 2007 and 2006, respectively. This differential between the cost and the fair market value of the shares released is also recorded as an adjustment to retained earnings as follows: Beginning balance Increase (decrease) Ending balance Cumulative Adjustment to Retained Earnings 2007 2006 $ (35,258) $ (35,209) (49) $ (35,258) $ (35,258) See accountants' compilation report. 17 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS DECEMBER 31,2007 and 2006 Note 11 - Related Party Transactions The Company entered into a lease agreement in November 1994 for property owned by two of the shareholders of the Company (see Note 9). Rental expense of$153,145 and $108,287 was paid on this lease in 2007 and 2006, respectively. In 1995, the Company made a loan to the principal shareholders of the Company evidenced by a promissory note in the amount of $374,000 and secured by a second deed of trust on the above-mentioned property. The note bore interest at the rate of 5.5% through February 1, 2002, when it was renewed for another three years at the rate of 5.2% per annum. In March 2003, the terms were renegotiated with a rate of 3.2% and full amortization with a due date of June 1, 2008. The monthly payments remained at $3,362 through April 1, 2005 at which time one of the shareholders paid off one-half of the loan. The terms on the remaining half were renegotiated to 3.04%, payable in monthly installments of $1,681 until April 1, 2008 when the balance is due in full. The outstanding balance of this loan is $9,946 as of December 31, 2007. Note 12 -Redeemed ESOP Shares As permitted by the ESOT, the Company has elected to repurchase shares of Company stock from retiring employees holding vested ESOP shares (Note 10). These repurchased shares are available to be contributed to the ESOT in future years, subject to tax rule limitations. Shares are repurchased at fair market value up to a maximum of $10,000 per person based on the share value determined by the prior year-end appraisal. If a retiree has been allocated shares valued at more than $10,000, the excess remains in the ESOT for five years and then is paid out in installments over the subsequent five years to the retiree. The following schedule summarizes repurchases as of December 31 : 2007 2006 Cumulative purchase cost $ 649,926 $ 496,710 Cumulative shares repurchased 147.545 113.000 The Company anticipates that the cost of purchasing shares pending at December 31, 2007 (up to a maximum value of $10,000 per retiree per year) will be approximately $80,000 in 2008 and $77,000 in 2009. See accountants' compilation report. 18 EXHIBIT "B" STATEMENT OF APPLICANT'S INCOME AND EXPENSES FOR THE FIRST SIX MONTHS OF THE YEAR 2008 AND THE EFFECTS OF GRANTING THIS APPLICATION EXHIBIT "Bn FINANCIAL RESULTS OF MARIN AIRPORTER CALIFORNIA PASSENGER OPERATIONS FOR THE TWELVE MONTH TEST PERIOD ENDING DECEMBER 31, 2006 AS RECORDED IN BOOKS REVENUE PER BOOKS (AIRPQRTER OPERATIONS .~.~~..~!!.~. $5,797,77~ ~~f~N~ts rER SQQKS !!.!!~~~~~..!!.!!~~~~~!!!.~!..~!~. $5,616,128 PROfIT OR (LOSS) (PRE TAX AND INTEREST) ....~~~.~.~!!. $ (l8,~49) OPERATING RATIO 101.0% FOR THE TWELVE MONTH TEST PERIOD ENDING DECEMBER 31, 2007 AS RECORDED IN BOOKS R~V~~Q~ rtR SOOKS (AIRPORTER OPERATIONS .~...~.~~.... $6,328,038 EXPENSES PER BOOKS ~!!!.!!!!!..!!!!!.!.",.,~..,!,,~, $6,149,9J! PROF~~ QR (~QSS) (rRe T~ AND INTEREST) OPERATING RATIO . ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ $ 178,107 97.0% II II......,...........,... III........, lit......... ."......... ........................... lIP............... ................,...... FOR THE SIX MONTH TEST PERIOD ENDING JUNE 30, 2008 AS RECORDED IN BOOKS . ~~V~~Q~ P~R SQOKS (AIRPORTER OPERATIONS ~~~~~~~~~~~~~~~~~ $3,~35 ~82 EXPENSES PER BOOKS ...................................... $3,260,114 I?~.of~T QR CLOSS) (:E'RE TAX AND INTEREST) ~ ~ ~ ~ ~ " ~ ~ ~ ~ ~ ~ ~ <! . . ($ 44, 421) OPERATING RATIO ................................................ 97.2% PROJECTED RESULTS FOR TWELVE MONTH TEST PERIOD UNDER PROPOSED RATES AND EXPENSES AT CURRENT COSTS \ R~V~NQ~ qNDERPROPQSEORATES <!~~~~..~...~....~~~.~~~..~..~ $6,670,764 EXPENSES AT CORRENT COSTS"". ~ " " " " " " " " " . " " " ~ " " " " .. " .. " " . " " " " " " " " . $ 6, 520, 226 f~Qf~T QR (LOSS) (PRE TAX AND INTEREST) <!.<!.""~.<!.<!...",, ($ 58,495) OPERATING RATIO 102.0% MARIN AIRPORTER FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30~ 2008 Prepared August 15,2008 MARIN AIRPORTER BALANCE SHEET JUNE 30~ 2008 ASSETS CURRENT ASSETS Cash & Cash Equivalents (Note 2 & 3) Marketable Securities (Note 4) Accounts Receivable (Note 2) Prepaid Insurance & Interest Prepaid License Fees Prepaid Income Tax $1~181,179 1,378,947 120,934 55,979 15,962 8,658 --------~-------- TOTAL CURRENT ASSETS $2,761,659 PROPERTY & EQUIPMENT (Note 2) Land Buildings Transportation Equipment Office Furniture & Fixtures Bus Terminal / Maintenance Equipment Leasehold Improvements 826,767 834,907 5,360,466 26,140 182,870 1,387,713 Less: Accumulated Depreciation 8,618,863 < 5,711,241> \ TOTAL PROPERTY & EQUIPMENT, NET OTHER ASSETS 2,907,622 Loan Fee, Net Deposits Class A License Paid-up Life Insurance (Note 5) Water Entitlement Membership in Insurance Cooperative (Note 12) 1,985 247,327 15,000 156,572 22,400 36,000 TOTAL OTHER ASSETS 479,284 TOTAL ASSETS $ 6,148,565 MARIN AIRPORTER BALANCE SHEET JUNE 30, 2008 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts Payable Accrued Expenses Current Portion of Long- T erm Debt Deferred Income Tax - Liability (Note 7) TOTAL CURRENT LIABILmES LONG - TERM DEBT (Note 6) Notes Payable Less: Current Portion of Long .. Term Debt TOTAL LONG - TERM DEBT OTHER NON-CURRENT LIABILITIES Deferred Tax Liability - Non-current (Note 7) TOTAL LIABILITIES \ STOCKHOLDERS'EQlnTY Common Stock (no par value) 7,500 shares authorized, 726.155 shares issued and outstanding Unrealized gain on securities, net of tax (Note 4) Unearned ESOP Shares (Note 9) Redeemed ESOT shares (Note 11) Retained Earnings TOTALSTOCKHOLDERS'EQUTfY TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 135,534 213,117 108,547 25,000 $ 482,198 1,550,696 < 108,547> 1,442,149 $ 49,200 ----~--.---~-~-~- 1,973,547 --~-------------- 21,507 48,600 < 698,529> < 649,926> 5,453,366 ------~-----.~.-- 4,175,018 $ 6,148,565 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 12 - Membership in Insurance Cooperative In August 2004 Marin Airporter made a $36,000 redeemable stock investment in a closely held cooperative insurance company consisting of approximately 40 members. This company is acting as a reinsurer in the commercial insurance program underwritten for participating subscribers. The program covers the risks of general liability, auto liability and workers' compensation. Approximately 38% of the premiums paid by Marin Airporter to this insurance company are set-aside in a fund (Fund A) to cover claims of less than $100,000 p~r incident against Marin Airporter. Approximately 10% of Marin Airporter;s premium, as well as a similar percentage of the other members' premiums, are placed in a common fund to cover claims from $100,000 to $300,000 against all members. The remaining 52% of all subscribers' premiums are used to purchase reinsurance to cover any claims exceeding $300,000 up to $5,000,000 and to cover fixed costs. If Fund A is not exhausted by Marin Airporter claims (of under $100,000 per incident), the balance in this fund (less certain fixed expenses) for each policy year will be returned in th~ form of a dividend at the close of the insurance period ending no earlier than three years after the end of the policy year. If Marin Airporter claims exceed the amount in Fund A for any policy year, Marin Airporter could be assessed an additional premium not to exceed the amount of premium originally allocated to Fund A for that policy year ($100,4 73 for the policy year from 2/1/08 to 1/31/09). Note 13 - Subsequent Event The Company will repurchase 23.54061 shares of Company stock during the remainder of 2008 from employees who retired prior to December 31, 2007 or those employees who chose the div~rsification option after age 55 and being a member of the plan fOT at least 10 years and holding vested ESOP shares (see Notes 9 & 11). The fmal valuation, based on the fair market value of Company shares at December 31, 2007 will be $105,359. MARIN AIRPORTER STATEMENT OF INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2008 INCOME Airporter Charter Parking Marin County Transit District Shuttles Commissions Total Income EXPENSES Salaries Fuel & Fuel Taxes Rents (Note 8) Depreciation Repairs & Maintenance Charter Expenses Insurance (Note 12) Employee Benefits Payroll Taxes Fees & Permits Advertising (Note 2) Professional Services Telephone & Utilities Office Expenses Bridge Tolls Miscellaneous Janitorial & Security Dues & Subscriptions Total Expenses NET INCOME (LOSS) FROM OPERA nONS OTHER INCOME (EXPENSE) Interest & Dividend Income Gain on Sale of Property & Equipment Other Income Interest Total CkherIncome (Expense) INCOME (LOSS) BEFORE INCOME TAXES INCOME TAXES (Note 7) NET INCOME (LOSS) $ 2,328,262 672,891 165,793 166,870 1,566 3~335,382 1,264,049 555,647 208,266 245,996 306,191 13,258 87,026 192,379 107,773 102,246 4,054 54,597 21,416 10,838 51,909 15,154 17,791 1,524 3,260,114 75,268 29,493 85,478 16,550 < 50,833> 80,688 155,956 < 42,127> $ 113,829 MARIN AIRPORTER STATEMENT OF RETAINED EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2008 RETAINED EARNINGS, as of December 31, 2007 Add: Net Income (Loss) RETAINED EARNINGS, as of June 30, 2008 $ 5,339,537 113,829 $ 5,453,366 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 1 - Organization of Business: Marin Airporter, The Company, is engaged in the transportation of passengers to and from local airports, providing bus charter and tour services as well as local contract shuttle services. The Company was incorporated in California on September 24, 1975 and is regulated by the Public Utilities Commission. The Company is closely held by an officer and an employee stock ownership trust described in Note 9. Note 2 - Summary of Significant Accounting Policies: Prooerty and Equipment - Property and equipment are recorded at cost. For book purposes the Company depreciates its fIXed assets using the straight-line method over the estimated useful lives of the related assets, ranging from two to forty years. Office furniture and fixtures and transportation equipment lives are three to eight years. Maintenance equipment lives are three to five years. Leasehold improvements and bus terminal lives are two to forty years. Accelerated methods are used for income tax purposes for all fIXed assets where it is allowed. Expenditures for normal maintenance and repairs are charged to expense as incurred. When assets are disposed of, the costs and related depreciation are removed from the accounts and any gain or loss on disposal is included in other income (expense). Spare parts and auto supplies - Such items are expensed when purchased. The total value of the items on hand is not material and does not fluctuate significantly from one period to the Re~t. Income taxes - The Company reports income taxes in accordance with SF AS No. 109 "Accounting for Income Taxes", which requires an asset and liability approach in accounting for income taxes. Accordingly, deferred tax assets and liabilities arise form the differences between the tax basis of an asset or liability and its reported amount in the fmancial statements. Deferred tax amounts are determined by using the tax rates expected to be in effect when the taxes will actually be paid or refunds received, as provided under currently enacted tax law. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable for the period plus or minus the change during the period in deferred tax assets and liabilities. For this six-month period however, income tax expense was calculated and the deferred tax amounts for the year ended December 31, 2007 were used. Cash and cash equivalents - Cash equivalents consist of highly liquid investments with original maturities of three months or less. Cash and cash equivalents as of June 30, 2008 consisted of the foHowing deposits with financial institutions: Money market mutual funds Cash deposits with banks $ 164,013 1,017,166 $1,181,179 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 2 - Summary of Significant Accounting Policies - continued Trade Accounts Receivable - Accounts receivable are considered to be fully collectible at June 30, 2008; accordingly, no allowance for doubtful accounts has been set up. If amounts become uncollectible, they will be charged to operations when that determination is made. Amortization - Loan fees are amortized on a straight-line basis over the life of the loan. Advertising - The company expenses advertising costs as they are incurred. Advertising expenses for the six months ended June 30, 2008 was $4,054. Comprehensive Income - The Corporation accounts for comprehensive income in accordance with SFAS No. 130 44Reporting Comprehensive Income", which requires comprehensive income and its components to be reported when a company has items of comprehensive income. Comprehensive income includes net income plus other comprehensive income (i.e. certain revenue, expenses, gains and losses reported as separate components of stockholders' equity rather than in net income). Use of Estimates - The preparation of fmancial statements in conformity with generally accepted principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Note 3 - Concentrations of Credit Risk Financial Instruments that subject the Company to potential concentrations of credit risk consist principally of temporary cash investments. The Company has concentrated its risk with regard to cash by placing all of its temporary cash investments in one fmancial institution. Substantially all deposits exceed existing federal deposit insurance coverage. Cash and cash equivalents are deposited with financial institutions that management believes are credit worthy. Note 4 - Marketable Securities The Company has investments in marketable equity securities that are held for an indefmite period and are deemed available-for-sale securities. Securities categorized as available-for-sale are stated at fair value, with unrealized gains and losses, net of deferred taxes, reported in stockholders' equity section of its balance sheets as "accumulated other comprehensive income (loss j' in compliance with the provisions of SFAS No. 115 "Accounting for Certain Investments in Debt and Equity Securities". Certificates of Deposit Corporate Bond Funds Stock Funds Sale securities Deferred Tax Np,t TTnrP,Ali7~t1 C1Ain (J .n~~) Amounts were as follows as of June 30, 2008: Estimated Mark~t Value $ 75;658 448,314 854,975 $1,378,947 Cost $ 74,891 424,770 753,985 $1,253,646 Unrealized Gain <Loss> $ 767 23,544 100.990 $ 125,301 $ <76,701> ~ 4ft.flOO MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 5 - Paid up Life Insurance The Company maintains split dollar insurance policies on two of its shareholders. Under the terms of the contract, upon the death of an insured or other termination of a policy, the Company will be reimbursed from the proceeds of the policy for the premiums paid. The total premiums paid in are $156,572, which is included in other assets in the accompanying balance sheet. Note 6 - Long-Term Debt The Company is liable for the following debts at June 30, 2008: Note payable to a credit corporation with interest at 5.36%, secured by three company vehicles, due initially at $12,107, currently $8,036 monthly including interest with a maturity date of July 16,2009. 77,890 Note payable to a credit corporation with interest at 5.56%, secured by two company vehicles, payable at $5,968 monthly including interest with a maturity date of March 14,2013. 298,369 Note payable to a bank with interest at 6.96%, secured by two company vehicles, payable at $8,210 monthly including interest with a maturity date of September 28,2012. 361,546 Note payable to a bank with interest at 7.25% secured by the land and bus terminal in northern Marin County, due $5,962 monthly including interest, with a balloon payment due February 15,2013. 812.891 1,550,696 < 108547> $ 1,442,149 Less: Current Maturities Future maturities of debt under the preceding agreements based on the amounts outstanding as of June 30, 2008 are as follows: Year Ended December 31 Amount 2008 2009 2010 2011 2012 Thereafter 108,547 191,310 159,599 169,888 156,039 765.313 $ 1,550,696 MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 7 - Income Taxes The provision for income taxes as of June 30, 2008 consists of estimated amounts payable based on June 30 Income: Federal $ 26,340 State $ 15,787 $ Total 42,127 Current The deferred tax asset and liability accounts have not been adjusted during this period and reflect the balances reported as of December 31, 2007. Note 8 - Lease ~ommitments The Company's Larkspur terminal is on land that is leased under two (2) separate leases, both commencing on April 1, 2003. The first lease is for the lower portion of the property and is a five (5) year lease with three (3) five (5) year options. The second lease is for the upper parking lot and is a three (3) year lease with five (5) three (3) year options. Both leases have annual rental adjustment increases based on the Consumer Price Index for the San Francisco - Oakland - San Jose area, with no provision for a decrease in rent. Currently rent is at $12,657.55 and $8,535.01 respectively. In November 1994, the Company entered into a twenty-year operating lease with the principal shareholders of the Company for a property used as a maintenance facility and office (see Note 10). The lease contains an escalation clause, which provides for increases in base rental amounts to recover increases in future operating costs. Currently rent is at $13,107.34. The future minimum rental payments shown below include base rental amounts exclusive of any future escalation. The following is a schedule of future minimum rental payments required under the above operating leases as of Jun~ 30, 2008: Year Ending December 31 2008 2009 2010 2011 2012 Thereafter Amount 205,799 334,783 309,179 309,179 309,179 326334 $ 1,794,453 Total rental expense amounted to $208,266 for the six months ended June 30, 2008. MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 9 - Em'Ployee Stock Ownership Trust Effective January 1, 1997, the Company established an Employee Stock Ownership Trust (ESOT) covering substantially all eligible employees meeting age and length of service requirements. The Plan is a qualified Employee Stock Ownership Plan (ESOP) under Section 401(a) of the Internal Revenue Code. The Plan does not cover any employee whose employment is covered by a collective bargaining agreement in which retirement benefits were the subject of good faith bargaining, unless the agreement provides for participation in this Plan. The Plan was adopted as an amendment and restatement of the Company's Profit Sharing Plan, originally effective as of January 1, 1987. The assets under the Profit Sharing Plan were transferred to the ESOP and maintained as a separate account. There have been no added contributions to the Profit Sharing Plan since inception of the ESOP. All employees who were eligible to participate in the Company's Profit Sharing Plan on the adoption date of this Plan were automatically eligible to participate in this Plan as of the effective date. Under the terms of the ESOT, contributions are at the discretion of the Board of Directors up to the maximum allowable for tax purposes. Under the terms of the Plan, the Company may transfer sums to the Plan Trust, which may in turn repay the share acquisition loan, invest in the stock of the Company or other investment opportunities (Le., saving accounts, certificates of deposit, etc.) The purpose of the Plan is to enable participating employees to acquire beneficial stock ownership in the CQmpany without personal cash outlay. In 1997, the shareholders of the Company sold 262.2 shares of capital stock to the ESOT for $1,260,000, e.videnced by a promissory note. There is no remaining balance on the Note. On July 31, 2002, the shareholders of the Company sold an additional 161.487 shares of capital stock to the ESOT for $700,000, evidenced by a promissory note. There is no remaining balance on the Note. On June 29, 2007 shareholder Melbern sold his remaining 225.15 shares of capital stock to the ESOT for $998,529, evidenced by a promissory note of $948,529 and $50,000 in cash. The note has an interest rate of 6% and requires annual principal payments of $94,853 until the note is fully paid. No contribution has been made for 2008 and for this statement no accrued amount has been recorded. See year-end fmancial statements for further details. As stated in the ESOT agreement, the Company stock account of each participant in the ESOP will be credited, as of each anniversary date, with the participants' allocated shares of the Company stock purchased and paid for by the ESOP or contributed in kind by the Company. Company stock acquired by the Trust with the proceeds of the share acquisition loan has been credited to a suspense account. For each plan year during the duration of the above promissory note, debt service payment will cause shares to be released from this suspense account. MARIN AIRPORTER NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Note 10 - Related Party Transactions The Company entered into a lease agreement in November 1994 for property owned by the shareholders of the Company (see Note 8). Rental expense of $78,644 was paid on this lease in 2008. In 1995, the Company made a loan to the shareholders of the Company evidenced by a promissory note in the amount of $374,000 and secured by a deed of trust on the above- mentioned property. The note bore interest at the rate of 5.5% through February I, 2002, when it was renewed for another three years at the rate of 5.2% per annum. In March 2003, the terms were negotiated with a rate of3.2% and full amortization with a due date of June 1, 2008. There is no remaining balance on the note. In July of 2000 one of the principal shareholders retired, but he was retained as a consultant for 5 years under an agreement signed July 1,2000, which expired June 30, 2005. Note 1 I - Redeemed ESOP Shares As permitted by the ESOT, the Company has elected to repurchase shares of Company stock from retiring employees holding vested ESOP shares (Note 9). These repurchased shares are available to be contributed to the ESOP. Shares are repurchased at fair market value based on the share value determined by the prior year-end appraisal. As of June 30, 2008, 147.54488 shares had been repurchased for a cumulative total of $649,926. EXHIBIT "e" STATEMENT OF APPLICANT'S PRESENT RATES Cal Puc No.3 MARIN AIR PORTER (PSC 990) LOCAL PASSENGER TARIFF NO. 1-8 SECTION 3 - FARES AND DISTANCES SERVICE TO AND FROM SAN FRANCISCO INTERNATIONAL AIRPORT OPERATING AUTHORITY Transporting Passengers and thefr baggage between Carrie(s Ignacio terminal (11455 Hamilton- Parkway, Ignacio.) (X) Denny's Restaurant, (7330 Redwood Highway) Novato, (X) The Oaks Inn, (215- Alameda Del Prado) Novato, (X) The Sheraton Four Points Hotel, (1010 Northgate Drive) San Rafael, The San Rafael Transportation Center, (2nd and Heatherton Street), San Rafael, (X) TheEmbassy Suites ( 1100 Mcinnis Parkway) larkspur, Carrier';s larkspur Terminal, (300 larkspur landing, larkspur, Mill Valley, Park and Ride lot, (U.S. Highway 101 and Califorinia Highway 1) Mill Valley. Sausalito, Sasalito Spencer Avenue andand U.S. Highway 101. 16TH Revised Page 4 Cancels 15th Revised Page 4 (a) Motor Vehicles may be turned at termini and intermediate points, in either direction, at intersections of streets or buy operating around a block contiguous to such intersections in accordance with local traffIC regulations. (b) No passengers) shall be picked up or discharged at any intermediate points. (c) Certain service points in larkspur, Novato and San Rafael shall be on an "On Call" Basis with a minimum of twenty-four hours (24) notice necessary. 300 $14.00 (A) $20.00 $15.00 (A) $20.00 $15.00 (A) $20.00 $16.00 (A) $20.00 $16.00 (A) $20.00 $15.00 (A) $20.00 $17.00 $21.00 $17.00 $21.00 $18.00 $21.00 (A) Denotes increased rate or fare. (X) Denotes "On Call" Basis, reservations required. Base Fares as used herein, indicates fare was in effect prior to the authorization of ZORF. (1) Denotes Base Fare, shown for infonnational purposes only. (2) Denotes ZORF Fare, in all cases the ZORF shall apply. ZORF Denotes Zone of Rate Freedom. . # issued on ten days notice under authority of Cat P.U.C. G. o. No. 158 and Decision No. 03-06-014. ISSUED: JULY 15, 2008. # EFFECTIVE: SEPTEMBER 8, 2008. Issued By: RANDY KOKKE, President --- 8 Lovell Avenue San Rafael, CA 94901 4 Cat Puc NO.3 MARIN AIRPORTER (PSC 990) LOCAL PASSENGER TARIFF NO.1-B SECTION 3. COMMUTATION TICKET BOOKS 8TH Revised Page 4-A Cancels 7TH Revised Page 4-A A Commutation Ticket Book, consisting of thirty pre-paid fares, valid for four (4) calendar months shall be available for the riders at the rate of (A) $200.00 per book. Conmuters must board at scheduled stops only. Commutation Books shalf be available at the Larkspur Landing Station or through the mail, provided the convnuter includes a self addressed, stamped envelope. The commuter may purchase the Ticket Book at any time during the prior month of the Commutation Ticket Book's validity. The Commutation Book shall be valid for four 4) months from the date of purchase. LIMITATIONS OF USE FOR THE COMMUTATION TICKET BOOK: (1) Issued Ticket Books are valid only for the period shown on the book. (2) Tickets shall be removed from the Book by the Station Agent or Driver(s) only. (3)Tickets shall be honored by presentation of the Book to the Station Agents or the Driver prior to boarding. Said carrier employee shall remove one ticket from the Book and return the unused the portions of the Book to the convnuter. loose tickets which are presented for fares are invalid. (4) Commutation Ticket Books are not transferable. Ticket Books will be accepted for fare only from the person shown on the Ticket Book in the event any party presents a Ticket Book issued to another person Ticket Book shall become invalid and the Station Agent or Driver shall confiscate said Ticket Book. (See Exception) EXCEPTION: In the event a Ticket Book which has been lost or stolen is subsequently confiscated by by the carrier, the return of the Ticket Book will be accomplished as follows; The party that had purchased the confiscated TIcket Book may file an affidavit stating the lost or stolen was used unlawfully and without consent or knowledge of the lawful owner. The unused Ticket Book shall be returned to the rightful owner, or in lieu thereof, a new Ticket Book may be issued. Provided, the carrier is reimbursed for the full value of the TICkets which were used while the Ticket Book was not in the possession of the party to whom the Ticket was originally issued. Also, in the event the original purchaser has purchased a new TICket Book to replace the lost or stolen Ticket Book, the entire amount remaining on the second Ticket Book shall be credited toward the purchase of a new Ticket Book. (5) Tickets left or Forgotten: No refunds for Ticket Books left at home or any other place. Riders will be obligated to pay full fare for the day they appear without the Ticket Book. (6) Refunds For Unused Tickets: Applications for refunds for unused tickets may be made to the carrier subject to the following conditions; when as a result of labor disputes a refund may be made to the rider when no portion of the Conmutation Ticket Book has been used during the period when the book was valid. No refunds or credits for partially used Conmutation Ticket Book$. ITEM 350 (A) Denotes increased rate or fare. Base Fares as used herein, indicates fare was in effect prior to the authoriZation of ZORF. Base Fare: 34 Tickets @$150.oo = $3.40 per fare. ZORF Fare 30 Tickets @$200.00 = $6.6'7 per fare. ZORF Fare, in all cases the ZORF shall apply. ZORF Denotes Zone of Rate Freedom. (# Issued on ten days notice under authority ot Cat P.O.C. Decision No. 95~~2 ISSUED: JULY 18, 2008. # EFFECTIVE: SEPTEMBER 8, 2008~ Issued By: RANDY KOKKE, President 8 Lovell Avenue San Rafael, CA 94901 4-A Exhibit "D" STATEMENT OF PROPOSED RATES AND CHARGES Cal Puc No.3 MARIN AIRPORTER (PSC 990) LOCAL PASSENGER TARIFF NO. 1-B SECTION 3 - FARES AND DISTANCES SERVtcE TO AND FROM SAN FRANCISCO INTERNATIONAL AIRPORT OPERATING AUTHORITY Transporting passengers and their baggage between Carrier's Ignacio terminal (11455 Hamilton- Parkway, Ignacio.) (X) Denny's Restaurant, (7330 Redwood Highway) Novato, (X) The Oaks Inn, (215- Alameda Del Prado) Novato, (X) The Sheraton Four Points Hotel, (1010 Northgate Drive) San Rafael, The San Rafael Transportation Center, (2nd and Heatherton Street), San Rafael, (X) TheEmbassy Suites ( 1100 Mcinnis Parkway) larkspur, CalTier';s larkspur Terminal, (300 larkspur landing, larkspur, Mill Valley, Park and Ride Lot, (U.S. Highway 101 and Califorinia Highway 1) MlH Valley. Sausalito, Sasalito Spencer Avenue andand U.S. Highway 101. Revised Page 4 Cancels Revised Page 4 (a) Motor Vehicles may be turned at termini and intermediate points, in either direction, at intersections of streets or buy operating around a block contiguous to such intersections in accordance with local traffic regulations. (b) No passenger's) shall be picked up or discharged at any intermediate points. (c) Certain service points in Larkspur, Novato and San Rafael shall be on an "On Call" Basis with a minimum of twenty-four hours (24) notice necessary. FARES PER PERSON, PER TRIP, BETWEEN SAN FRANCISCO INTERNATIONAL AIRPORT AND ALL FARES ARE ONE WAY ~a_~~~litQ, (U.$. HighWay 101 and Spencer Ave.) Mill Valley, (Mananita and Park and Ride lot, (U.S. Highway No. 101 and California Highway 1) Mill Valley, (U.S. Highway 101 and Seminary Dr.) (X) Larkspur, Marriott Cou~ard Inn, (2500 Larkspur Landing Center) Larkspur, Carrier's Term. (300 Larkspur Land) (X) San Rafael, The Embassy Suites Hotel, (100 Mcinnis Parkway) (X) San Rafael, The Sheraton Four Points Hotel, (1010 Northgate Drive) San Rafael Transportation Center (2nd and Hetherton Street) (X) Novato, The Oaks Inn (215 Alameda Del Prado) Ignacio, Carrier's Terminal (1455 Hamilton Parkway) {Xl Novato, Dennys Restaurant (7330 Redwood Highway) AVG BASE FARE $22.00 (1) BASE FARES $20..00 $20.00 AVG ZORF FARE $22.00 (A) (2) ZORF FARES (A) $22.00 (A) $22.00 300 MILES ONE WAY 20.8 23.8 24.4 28.9 28.9 33.2 33.4 33.6 37.1 37.6 42 (A) Denotes increased rate or fare. (X) Denotes liOn Call" Basis, reservations required. Base Fares as used herein, indicates fare was in effect prior to the authorization of ZORF. (1) Denotes Base Fare, shown for infonnational purposes only. (2) Denotes ZORF Fare, in all cases the ZORF shall apply. ZORF Denotes Zone of Rate Freedom. $20.00 (A) $22.00 $20.00 (A) $22.00 $20.00 (A) $22.00 $20.00 (A) $22.00 $20.00 (A) $22.00 $20.00 (A) $22.00 $21.00 (A) $23.00 $21.00 (A) $23.00 $21.00 (A) $23.00 - # issued on ten days notice under authority of Cat P.U.C. G. o. No. 158 and Decision No. ISSUED: # EFFECTIVE: Issued By: RANDY KOKKE, President 8 Lovell Avenue San Rafael, CA 94901 4 Cal Puc No.3 MARIN AIRPORTER (PSC 990) LOCAL PASSENGER TARIFF NO. 1-8 SECTION 3 - COMMUTATION TICKET BOOKS Revised Page 4-A Cancels Revised Page 4-A ITEM A Commutation Ticket Book, consisting of thirty pre-paid fares, valid for four (4) calendar months shall be available for the riders at the rate of (A) $250.00 per book. Convnuters must board at scheduled stops only. Convnutation Books shall be available at the Larkspur Landing Station or through the mail, provided the convnuter includes a self addressed, stamped envelope. The commuter may purchase the Ticket Book at any time during the prior month of the Commutation Ticket Book's validity. The Commutation Book shall be valid for four 4) months from the date of purchase. LIMITATIONS OF USE FOR THE COMMUTATION TICKET BOOK: (1) Issued Ticket Books are valid only for the period shown on the book. (2) Tickets shall be removed from the Book by the Station Agent or Driver(s) only. (3)Tickets shall be honored by presentation of the Book to the Station Agents or the Driver prior to boarding. Said carrier employee shall remove one ticket from the Book and return the unused the portions of the Book to the convnuter. Loose tickets which are presented for fares are invalid. (4) Convnutation TICket Books are not transferable. Ticket Books will be accepted for fare only from the person shown on the Ticket Book in the event any party presents a Ticket Book issued to another person Ticket Book shall become invalid and the Station Agent or Driver shall confiscate said Ticket Book. (See Exception) 350 EXCEPTION: In the event a Ticket Book which has been lost or stolen is subsequently confiscated by by the carrier, the return of the Ticket Book will be accomplished as follows; The party that had purchased the confiscated Ticket Book may file an affidavit stating the lost or stolen was used unlawfully and without consent or knowledge of the lawful owner. The unused Ticket Book shall be returned to the rightful owner, or in lieu thereof, a new Ticket Book may be issued. Provided, the carrier is reimbursed for the full value of the Tickets which were used while the Ticket Book was not in the possession of tile party to whom the Ticket was originally issued. Also, in the event the original purchaser has purchased a new Ticket Book to replace the lost or stofen Ticket Book, the entire amount remaining on the second Ticket Book shall be credited toward the purchase of a new Ticket BOOk. (5) Tickets Left or Forgotten: No refunds for Ticket Books left at home or any other place. Riders will be obligated to pay full fare for the day they appear without the Ticket Book. (6) Refunds For Unused Tickets: Applications for refunds for unused tickets may be made to the carrier subject to the.. following conditions; when as a result of labor disputes a refund may be made to the rider when no portion of the Commutation Ticket Book has been used during the period when the book was valid. No refunds or credits for partially used Commutation Ticket Books.. (A) Denotes increased rate or fare. Base Fares as used herein, indicates fare was in effect prior to the authorization of ZORF. Base Fare: 34 Tickets @ $250.00 = $7.35 per fare. ZORF Fare 30 Tickets @ $275.00 = $9.17 per fare. ZORF Fare, in aU cases the ZORF shall apply. ZORF Denotes Zone of Rate Freedom. tlissued on ten days notice under authority orCal P.U.C. Decis.on No. &5~6~2 ISSUED: # EFFECTIVE: Issued By: RANDY KOKKE, President 8 Lovell Avenue San Rafael, CA 94901 4-A EXHIBIT '-E" STATSICTICAL TABLES Bureau of Labor Statistics Data Page lof2 . U.S. Department of Labor www.bls.gov Search: All BLS.gov for: l~~~~~~j -:: Bureau of Labor Statistics Newsroom I Tutorials I Release Calendar II Home Subject Areas Databases & Tables Publications Economic Releases A...Z Index I About BLS Databases, Tables & Calculators by Subject : FONT SIZE: 8 ffi Change Output From: 1998 II To: 200811 ($) Options: ~ include graphs NEWI More Formattinq Options..... Data extracted on: October 3, 2008 (11:45:57 PM) Producer Price Index-Commodities Series Id: WPU14 Not Seasonally Adjusted Group: Transportation equipment Item: Transportation equipment Base Bate: 198200 Year Jan FebMar Apr May. 1998 141.4 141.5 141.5 141.3 140.7 1999 142.0,142.3 141.8141.9 141.5 2000,143.5' 143.4 143.4 143.5 143.5 2001 145.7 144.9145.1 145.5: 144.8 144.5 2002 145.4 145.8 145.3 145.1 144.5 : 144.4 2003: 145.3 145.5 146.9144.9: 144.8 .144.3 2004 147.8 147.7 148.0 147.7 148.0 148.4 2005 151.9 151.0 151.0 151.0i 151.0 149.7 n.'"" <~_, 2006.152.1 152.4 152.7 152.8 152.8 .152.5 ~.. < 2007 155.0 155.0 154.6154.3 154.2 154.4 2008 157.5157.5 156.8 157.6157.1 156.7 -- ',' p:.<p)~(p.t .(p) " (I'.) p : Preliminary. All indexes are subject to revision four months after onglnal'publlcation. ~E!P Oct_n.Novp;!.~e~nJ~llnual 139 . 6L~4?.~,;! 42. 8 L1~?,~J! 41. 2 140.1 14~~?L1~~~..3t1.,43.~JJ1.1.8 142. 9 145'~j145.~L1.4?..?~~143.8 145.0 i 1 ~~.Q:!~5.?L1.4~.. Q.J}45.2 ,. 14:2.5:146.4; 145.5] 144.8! 144.6 . ,~_.. ..... '- ~ -"~~i--"~-<"'" ~""n'"" 144.1 148.7i147.91147.4j}45.7 147.} :lSl...~,~.151,.!.~!,?!'~J.!1.~..~ 150.2:152.9; 1,?1.8L!?'!"u?!1,,~J..9. 151.4 f !.?3.QL!.??..?1!??..1.!.1~??.6 153.7,: 156. ~:~~?~}I}56'.~L1.??..9 http;l/d~~.bts.gov/Cgi..bWl~~~y~~~ 1013/2008 - -. -. -.- -. . Bureau of Labor Statistics Data Page 2of2 Quick Links Tool. o At a Glance Tables o Economic News Releases o Databases & Tables o Maps Calculator. o Inflation D Location Quotient o Injury And Illness Help o Help & Tutorials o A to Z Index o FAQs o Glossary o About BLS o Contact Us Info o What's New o Careers @ BLS a Find It! DOL o Join our Mailing Lists o Privacy & Security o Linking & Copyright Information Frequently Asked Questions I Freedom of Information Act I Customer Survey U.S. Bureau of Labor Statistics 2 Massachusetts Avenue, NE Washington, DC 20212-0001 e-'" bls.gov {....) .....-$ www.bls.gov I Telephone: (202) 691-5200 I Do you have a Data question? bJtp;I/~~~~~.g~v/(;g~-~~s~~y~os~ ~ OJ3/~OO8 Bureau of Labor Statistics Data Page 10f3 . U.S. Department of Labor www.bls.gov Search: All BLS.gov for: f~~~~~~J -:: Bureau of Labor Statistics Newsroom I Tutorials I Release Calendar iI Home Subject Areas Databases & Tables Publications Economic Releases A~Z Indl!tx I About BLS Databases, Tables & Calculators by Subject ; FONT SIZE: (3 (fJ Change Output II' '- II" '. ~, ,.,' . Front: 1998 To: 2008 W' Options: ' ~ include graphs NEWI More Formatting Options..... Data extracted on: October 3, 2008 (11:42:08 PM) Consumer Price Index - All Urban Consumers Series 10: CUURA422SAO Not Seasonally Adjusted Area: San Francisco-Oakland-San Jose, CA Item: All items Base Period: 1982-84~lOO !~~!L~nnUal 19981165.5 '_"n.._~_ ~',,""'--'-~ _..t-._~.,.......~...~._..."... _._w._ ~_~??jJ?:? ,'~.". i http://data.bls.gov/PDQ/servletlSurveyOutputServlet 10/3/2008 Bureau of Labor Statistics Data Page 20f3 2000 180.2 2001 189.9 2002 193.0 2003 196.4 2004 198.8 200S 202.7 2006 209.2 2007 216.048 12 Months Percent Change Series Id: CUURA422SAO Not Seasonally Adjusted Area: San Francisco-Oakland-San Jose, CA Item: All items Base Period: 1982-84=100 Year iAnnual 1998i3.2 1999l~~.~ 2000'4.5 2001 5.4 20(2) 1.6 2003 1.8 20()4 i~.' 2 2005'2.0 2006!3.2 2007 3.3 ~~p://~~W~-g()v~QQ/~~~V~~t!yq~tp~~~~~~ 10/3/2008 Bureau of Labor Statistics Data Page 3 of3 Quick Links Tools a At a Glance Tables a Economic News Releases G Databases & Tables G Maps Calculator. f} Inflation a Location Quotient a Injury And Illness Help o Help & Tutorials G A to Z Index a FAQs a Glossary G About BLS a Contact Us Info o What's New G Careers @ BLS a Find It! DOL G Join our Mailing Lists a Privacy & Secu rity G Linking & Copyright Information Frequently Asked Questions I Freedom of Information Act I Customer Survey U.S. Bureau of Labor Statistics 2 Massachusetts Avenue, NE Washington, DC 20212-0001 bl \<-;....., s.gOY (~__;;.' www.bls.gov I Telephone: (202) 691-5200 I Do you have a Data question? ~~~.//~~.1?~~.g()vlf~Q./~~~~t/~~~yQ~tp~~~~~~ 1 0/3/2008 oureau 01 LaOOf .:')unl~ncs uata 8 u.s. Department of Labor www.bls.gov Search: All BLS.gov -:: Bureau of Labor Statistics Page 1 ot 1.. for; ~-~~,<h ~-'1 Newsroom I Tutorials I Release Calendar ifm Home Subject Areas Databases & Tables Publications Economic Re!eases A - Z Index I About BLS Databases, Tables & Calculators by Subject ~ Change Output Optioos; F~; 199$ TQ: 2008 ~ inctude graphs NeWt Data extracted on: October 3, 2008 (4:33:18 PM) Consumer Price Index - All Urban Consumers Seri.s Id: CUURA422SAO Not Seasonally Adjusted Area: San f~ancisco-.Oakland~San Jose, CA It..: All items Base ~~iod; 1982~e4~100 Year Jan feb Mar Apr 1998 163.2 164.G 1'99 169.4 172.2 2000 176.5 118.7 2001 187.9 189.1 2002 191.3 193.0 2003 197.7 197.3 2004 196.1 198.3' 200S 201.2 202.5 2006 201.1 208.9 2007 213.688 215.842 2008 219.612 222.074 QUICk links Tool. G At a Glance Tables o Economic News Releases G Databases & Tables o Maps Calculator. May Jun 165.5 171.6 179.1 190.9 193.2 196.3 199.0 201.2 209.1 216.123 225.181 D Inflation e Location Quotient o Injury And Illness http:// data. bls.gov 1 cgi...binlsurveymost Jut Aug 166.6 173.5 un.7 191.0 193.5 196.3 198.7 203.0 210.' 216.240 225.411 ..:;';j. :;.I.c.:t.: ~." + More Formatting Options..... Sep Oct 167.2 175.2 183.4 191.7 194.3 196.3 200.3- 205.9 211.0 217.949 Help D Help & Tutonals G A to Z lndex fJ FAQs o Glossary o About BLS f.) Contact Us Nov Dee Annual HALfiil HALf2 167.4 165.5 164.2 166.9 174.5 172.5 170.8 174,2 184.1 180.2 177.7 182.6 190.6 189.9 18S, '7 191.1 193.2 193.Q 192.3 193.7 195.3 196.4 196.8 196.1 199.5 198.8 198.2 199.5 203.4 202.7 201.5 203.9 210.4 209.2 207.9 210.6 218.485 216.04B :Z14.736 41'7.361 221.730 Info o \iVhat's New o Careers @ BLS 9 Find ltl DOL o Join our i'1aU!ng LIsts D Privacy & Security C Linkmg & Copyright Information 10/3/2008 Diesel Prices Details - Last 53 Weeks Page 1 of2 e Energy Information Administration EmDj 0IIiciaI Energy S1atistics from the U-S. Goverrment Glossary Home > Petroleum > Weeklv Retail On-HighwaY Diesel Prices > Average AfI Types - last 53 Weeks Weekly Retail On-Highway Diesel Prices Average All Types - Last 53 Weeks (Dollars per gallon, including all taxes) Date U.S. East New Central Lower Gulf Rocky West CA Average Coast England Atlantic Atlantic Midwest Coast Mtn Coast ~---_.._-------- .-._------.----- -~-_._._-- 09/29/08 3.959 4.020 4.077 4.073 3.992 3.936 3.929 3.944 3.941 3.963 09/22/08 3.958 4.021 4.JlO 4.081 3.987 3.931 3.924 3.964 3.943 3.951 09/15/08 4.023 4.082 4.246 4.166 4.031 3.973 4.011 4.041 4.056 4.053 09/08/08 4.059 4.100 4.312 4.246 4.018 4.015 4.015 4.105 4.156 4.185 09101/08 4.121 4.169 4.359 4.307 4.093 4.066 4.068 4.184 4.248 4.282 08125/08 4.145 4.199 4.382 4.360 4.113 4.073 4.098 4.227 4.286 4.359 08/18108 4.207 4.263 4.422 4.414 4.184 4.130 4.156 4.319 4.356 4.422 08/11/08 4.353 4.420 4.584 4.563 4.344 4.267 4.299 4.473 4.511 4.607 08/04/08 4.502 4.563 4.735 4.672 4.501 4.419 4.450 4.605 4.664 4.781 07128/08 4.603 4.664 4.806 4.772 4.604 4.518 4.570 4.657 4.766 4.869 07121108 4.718 4.773 4.869 4.869 4.723 4.649 4.701 4.714 4.845 4.%4 07/14/08 4.764 4.822 4.889 4.912 4.777 4.698 4.737 4.718 4.909 5.026 07/07108 4.727 4.789 4.863 4.887 4.741 4.654 4.697 4.672 4.886 5.001 06130/08 4.645 4.704 4.822 4.822 4.643 4.571 4.604 4.638 4.817 4.928 06123108 4.648 4.711 4.833 4.831 4.648 4.574 4.602 4.652 4.816 4.922 06116/08 4.692 4.752 4.853 4.874 4.690 4.618 4.656 4.685 4.852 4.969 06/09/08 4.692 4.743 4.834 4.879 4.677 4.615 4.658 4.698 4.874 4.992 06102108 4.707 4.759 4.846 4.907 4.687 4.643 4.664 4.680 4.878 5.027 05126/08 4.723 4.779 4.843 4.913 4.717 4.667 4.673 4.653 4.883 5.027 05/19108 4.497 4.544 4.610 4.682 4.480 4.463 4.443 4.442 4.610 4.737 05/12108 4.331 4.377 4.463 4.516 4.310 4.298 4.268 4.276 4.454 4.547 05/05/08 4.149 4.194 4.337 4.345 4.117 4.101 4.084 4.156 4.303 4.382 04128/08 4.177 4.230 4.346 4.376 4.157 4.133 4.113 4.141 4.312 4.390 04121/08 4.143 4.207 4.346 4.370 4.126 4.098 4.077 4.111 4.255 4.317 04/14/08 4.059 4.117 4.239 4.266 4.043 4.013 4.000 4.039 4.176 4.234 04107/08 3.955 4.005 4.121 4.142 3.936 3.917 3.894 3.974 4.052 4.118 03/31/08 3.964 4.014 4.130 4.160 3.941 3.929 3.907 3.972 4.049 4.112 03124/08 3.989 4.045 4.142 4.186 3.975 3.964 3.928 3.953 4.056 4.119 03/17108 3.974 4.035 4.119 4.177 3.967 3.958 3.914 3.892 4.018 4.083 03/10108 3.819 3.870 3.938 3.989 3.814 3.784 3.198 3.732 3.885 3.955 03/03/08 3.658 3.700 3.813 3.825 3.636 3.639 3.609 3.573 3.736 3.803 02125108 3.552 3.608 3.710 3.693 3.562 3.525 3.510 3.473 3.609 3.672 http://tonto.eia.doe.gov/oog/info/wohdp/diesel_ detail_report_ combined.asp 10/2/2008 Diesel Prices Details - Last 53 Weeks 02/18198 3.396 3.444 3.588 3.526 3.396 3.365 3.367 3.350 3.454 3.511 02/11108 3.280 3.324 3.542 3.412 3.266 3.249 3.239 3.264 3.347 3.393 02104/08 3.280 3.338 3.566 3.438 3.275 3.243 3.247 3.260 3.325 3.377 01/28108 3.259 3.327 3.583 3.432 3.258 3.218 3.218 3.236 3.301 3.346 01/21/08 3.270 3.343 3.594 3.472 3.264 3.228 3.222 3.229 3.327 3.360 01/14/08 3.326 3.391 3.621 3.510 3.318 3.288 3.266 3.261 3.420 3.459 01107108 3.376 3.436 3.644 3.554 3.366 3.345 3.318 3.276 3.474 3.526 12131/07 3.345 3.399 3.600 3.519 3.328 3.309 3.293 3.269 3.451 3.491 12/24107 3.308 3.356 3.584 3.497 3.275 3.277 3.246 3.268 3.411 3.434 12117107 3.309 3.359 3.581 3.511 3.273 3.271 3.245 3.319 3.415 3.426 12110/07 3.325 3.372 3.570 3.514 3.293 3.276 3.265 3.397 3.440 3.455 12/03/07 3.416 3.444 3.595 3.570 3.376 3.385 3.345 3.487 3.532 3.567 11/26107 3.444 3.453 3.590 3.574 3.389 3.423 3.360 3.527 3.587 3.620 11/19/07 3.410 3.407 3.488 3.524 3.350 3.389 3.324 3.507 3.586 3.624 11/12107 3.425 3.415 3.484 3.523 3.362 3.403 3.347 3.532 3.608 3.663 11105107 3.303 3.290 3.375 3.381 3.244 3.278 3.219 3.411 3.508 3.524 10/29107 3.157 3.148 3.250 3.251 3.095 3.122 3.062 3.281 3.394 3.406 10/22/07 3.094 3.078 3.182 3.186 3.022 3.067 2.994 3.229 3.323 3.338 10/1S/07 3.039 3.023 3.122 3.125 2.970 3.025 2.941 3.169 3.229 3.249 10/08107 3.035 3.031 3.123 3.137 2.977 3.028 2.946 3~ 139 3.167 3.197 10101107 3.048 3.052 3.117 3.141 3.008 3.061 2.975 3.100 3.090 3.143 W..kly U.S Ret~iI On-Hi9hW~Y Di.,.' Prite' AVe..:l9. All Type' 5.10 t~ 4.ao 4.70 4.60 4.50 4.40 4.30 ,..4.20 15 4.10 ;;4.00 $" 3.90 ~ 3.80 I 3.70 J5 3.60 15 3.50 =s ~:~ =3.20 3.10 3.00 2.90 2.80 2.70 ~~ 2.40 2.30 ~ C:! (") ^ T - \ , , J \ J \ , 1 -,. .... I "- r- - J , J T -- T , '-.I\.. 7 I -- 7 ,.."..., ,... _ .J' ,- I r T """'- -~ ~ I T I J \ ~ I "'. -, -,. I 'iJ . . . .. . . 8 8 to to t>.. ,... .... t>.. .... ~ ~ ~ ~ ~ ~ 8 ~ ij ~ ~ g 8 0 ~ 0 C:! C:! C:! ~ ~ C:! t>.. ..... ~ ~ .... ~ ~ ..... .... ~ ..... ~ ...... ..... C:! C:! C:! C:! (:! C:! ~ ~ ~ I/) ..... 0) ~ ..- (") I/) "" 0) .... .... I/) "" .... .... Source: Energy Information AclministrSOn Contact Us . Feedback. Privacy I Security . careers. About elA Fedstats . USA.gov . Dept. of Energy http://tonto.eia.doe.gov/oog/info/wohdp/diesel_ detail_report _ combined. asp Page 2 of2 10/2/2008 Table 23. Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W); Selected areas, by expenditure category and commodity and service group (1982-84=100. unless otherwise rIOted) Monthly cities and pricing schedule 21 U.S. Chicago- city Atlanta, GA Gary- average Kenosha. Item and group Il-IN-WI Index Percent change Index Percent change Index Percent change from- from-- from- June June Apr. June June Apr. June June Apr. 2008 2007 2008 2008 2007 2008 2008 2007 2008 Expencftlure category All items .............. .......... ........................... ............ ............. ........ 215.223 5.6 2.1 212.013 5.5 3.0 209.021 4.9 1.5 All items (1967=100) 2 .............................................................. 641.082 - - 641.051 - - 613.867 - - Food and beverages a................................................................... 212.700 5.2 1.0 213.715 4.5 1.3 208.663 4.5 .0 Food ....................................................................................... 212.514 5.3 1.1 220.505 4.7 1.4 207.734 4.5 -.1 Food at home .,......................,............................................ 212.079 6.0 1.2 211.237 6.0 1.5 211.623 4.5 -1.0 Food away from home ........................................................ 214.861 4.5 1.0 236.860 3.1 1.2 197.792 4.5 1.2 A1lXlholic beverages ...... ........ ............ ....... ........ .... ................ 213.976 3.0 .2 139.051 .7 -.4 220.523 4.3 1.1 Housing ................................................................................... 213.441 3.8 1.6 205.456 4.2 3.2 208.978 4.2 1.4 Shelter .................................. ................................................ 239.198 2.6 .4 212.397 2.5 .4 240.006 2.1 .0 Rent of primary residence 3 ................................................ 241.62~ 3.6 .5 221.825 5.8 .1 263.922 3.7 .6 Owners' equivalent rent of primary residence 3 4 ............... 228.536 2.6 .3 199.841 1.4 .1 233.624 1.8 -1.1 Fuels and utilities ........................ ........ ...................... ....... ..... 228.843 12.0 8.5 282.414 13.0 18.8 221.527 20.8 10.3 ~~>=y ei;.tri~.3.::::::::::::::::::::::::::::::::::::::::::::: 209.843 13.3 10.1 267.472 16.1 22.5 205.403 21.9 11.3 211.398 10.2 9.9 267.269 15.7 22.7 209.754 21.5 11.3 Electricity 3 ..................................................................... 192.747 5.8 9.4 217.718 8.4 27.8 142.357 7.6 5.9 Utility (piped) gas service 3............................................. 2n.453 22.2 10.9 366.690 32.9 14.1 298.526 34.6 15.7 Household furnishings and operatiQns ................................. 123.434 .5 .3 133.Ei22 2.9 -.4 102.574 -.8 -.8 Apparel ... .................................... ............................................ 116.706 .3 -4.2 123.257 -1.2 -7.5 88.022 -5.1 -3.7 Tmnsportation ........................................................................ 213.633 12.9 7.1 211.860 14.5 8.9 200.923 11.6 7.0 Private transportation ........................................................... 210.423 12.9 7.0 209.880 14.4 8.6 197.788 11.4 6.7 Motor fuel ....................................................................4........... 348.762 33,3 18,0 354.380 36.4 18.4 364.181 24.0 16.8 G~=~~~=~.~Ui~~.5.:::::::::::::::::::::::::::::::::::::::::: 346.459 32.8 18.1 351.009 36.0 18.4 361.344 ~4.1 16.9 347.642 33.0 18.4 349.673 35.7 18.7 358.234 24.4 17.1 GasQllne, unleaded midgrade 56 ................................... 351.828 32.7 17.5 418.515 36.8 17.9 373.795 23.8 16.5 Gasoline, unleaded premium 5 ....................................... 328.556 31.9 17.1 345.159 36.2 17.9 338.274 22.6 16.3 Medical care .. ...... ...... ............ ........... ........ .,.. ....... ........ ........... 363.628 4.1 .1 314.175 .1 -.6 367.540 4.9 -.3 Recreation 7 ... .... ..... .... ............~..... .... .... .....l.. .... ......... ...... ....... 109.905 1.1 .1 109.182 .8 -1.0 109.104 1.9 .0 Education and communication 7 ............................................. 119.264 3.0 .7 110.480 2.2 -.1 130.241 3.5 -.3 Other goods and services .......................................................... 358.419 4.2 1.0 346.244 3.8 1.7 343.632 3.8 -.6 Commodity and service group AM Itetns . ............ .......... ...... ,......................... ... .......................... 215.223 5.6 2.1 212.013 5.5 3.0 209.021 4.9 1.5 Commodities ........................................................................................ 184.495 7.8 3.1 188.494 8.9 3.7 170.478 4.8 1.7 Commodities less food and beverages .. ..,... .................. ~..... 167 .344 9.1 4.3 173.395 11.2 4.9 149.692 5.3 2.9 Nondurables less food and beverages ............................... 225.585 15.7 7.1 240.712 18.8 7.5 205.616 8.2 5.2 Ourables ....................................... ..................... ................. 111.769 -.6 -.4 110.499 .1.1 .4 99.740 -.7 -1.3 Services .................................................................................. 251.365 3.8 1.3 243.191 3.5 2.6 249.206 4.9 1.4 Special aggregate Indexes All items less medical care ....................................................... 208.906 5.6 2.3 205.539 5.7 3.1 202.093 4.8 1.6 All items less shelter ................................................................. 208.817 6.8 2.9 218.909 7.5 ".6 199.079 6.1 2.2 Commodities less food ............................................................. 169.169 8.9 4.1 172.547 10.9 4.8 152.321 5.2 2.8 Nondurables ......................................... .................................... 220.813 10.7 4.3 227.970 12.3 4.8 209.292 6.0 2.5 Nondufables less fOOd .............................................................. 225.276 14.9 6.8 234.336 18.1 7.2 206.950 7.8 4.9 ServIces less rent of shelter" ................................................... 243.780 5.1 2.5 261.526 5.2 6.0 243.879 8.4 3.0 Services less medical care services .......................................... 241.422 3.7 1.4 231.986 3.6 2.7 239.213 4.8 1.5 Energy ...................................................................................... 2n.597 25.1 14.9 284.293 26.4 20.2 269.060 23.1 14.4 AM items less energy ...."............................................................. 208.458 2.9 .3 200.887 2.0 .1 202.879 2.6 -.2 All Items less food and energy ................................................... 208.007 2.4 .2 197.689 1.6 -.1 201.950 2.2 ..2 See footnotes at end of table. 67 CPI Detailed Report-June 2008 Table 23. Consumer PrIce Index for Urban Wage Eamers and Clerical Workers (CPI..W): Selected artt8$, by expenditure category and commodity and service group-Continued (1982-84=100, unless otherwise noted) Item and group Expenditure category An items ..... .............. ......... ........ ............... ........ .... ..................... All items (1967=100) 2 .............................................................. Fooct and beverages ...................................,.......................... Food .. ........ ............ ....... ................... .......... .......... ........... ...... Food at home .....................,............................................... Food away from home ........................................................ Alccholic beverages ... ....... ........ .................. ....... .................. Housing .................................................................................. Shelter .................................. .... ............................................ Rent of primary residence 3 ................................................ Owners' equivalent rent of primary residence 34 ............... Fuels and utilities .................................................................. H~se:~)"=y ei~.3.::::::::::::::::::::::::::::::::::::::::::::: Electricity 3 ......... ................... ................. ........................ Utility (piped) gas service 3 ............................................. Household furnishings and operations ................................. Apparel................................................................ ................... Ttansportation ....... ....................... ........ ........ ........ ....... ........... Private transportation ......... ....... ........ .... ........ ....... ........ ........ Motor fuel...... ........ ....................................... ... .... ........ ....... ~~~~=~.;;g~.s.:::::::::::::::::::::::::::::::::::::::::: Gasoline. unleaded mldgracfe S 6 ..............................._.. GasoIlne. unleaded premium S ....................................... MedicaJ care ................ ................. ....... ..... ).......... ......... ....... ... Recreation 1 .. .................... ....... ........ .................. ........ ............ Education and communication 1 ..............................._............ Other goods and services ..............................,........,.............. Commodity and service group A1llterns .......... ....... ............... ........ ................... ..... .......... .... ...... Corntnodities ......... ................ ............ ........... ...............,... ....... Cornrnodities less food and beverag~ ................................ Nondurables less food and beverages ............................... Durables ........................... ....................................... ........... Services ....,....... ...................................................................... SptciaI aggregat$lndexes ) Aft lterns less medical care .. ......... ..... ........ ............ ........... ........ AR lterns less sheller ................................................................. Cornrnodities less food ............................................................. Nondurabl&s ............... ................................... ........................... Nondurables leSs food .............................................................. Services less rent of shelter 4 ................................................... Services less medical care services ......................................... Energy ...................................................................................... AIllterns less energy ................................................................ All items less food and energy ............................................... See footnotes at end of 18b1e. Index June 2008 203.524 599.417 195.234 195.491 194.042 198.486 187.124 184.822 199.937 204.935 206.917 235.n6 199.613 199.532 160.827 240.864- 114.728 106.256 243.553 242.585 350.791 349.034 361.032 379.379 3~4.213 341.874 112.376 126.890 353.374 203.524 3.6 175.215 6.6 164.075 10.1 214.312 13.0 107.420 2.2 239.053 .8 198.534 3.7 208.180 4.6 165.241 9.7 205.752 7.3 213.191 12.2 257.324 1.2 231.146 1.1 273.908 19.5 195.812 1.2 196.432 1.0 Detroit- AM Arbor- FUnt. MI Percent change from- Monthly cities and pricing schedule 21 Houston- Galveston- Brazoria. TX June Apr. 2007 2008 3.5 1.7 1.8 1.4 2.6 .3 1.9 .6 -.3 .6 7.5 8.4 8.0 2.4 14.4 2.0 5.9 11.5 11.5 27.2 27.1 21.7 25.3 25.0 -.9 -2.6 1.8 .6 68 Index June 2008 1.2 193.742 618.339 200.044 200.008 205.358 189.582 192.200 179.461 187.982 183.607 186.251 213.898 211.151 208.979 203.453 241.699 128.902 137.927 205.732 205.289 338.207 335.348 349.796 340.891 317.606 337.462 103.n1 100.687 287.646 .9 .9 1.3 .4 .2 .3 -.1 .0 .1 2.0 2.3 1.9 2.8 1.0 .4 -5.3 6.6 6.5 15.5 15.6 15.8 13.7 16.2 -.3 -2.4 .5 -,2 1.2 2.6 3.8 5.0 .5 .0 193.742 5.7 178.211 6.5 165.123 6.6 226.350 11.2 106.443 -1.2 212.~3 4.7 1.3 1.7 3.6 3.0 4.8 .2 .1 10.2 -.2 -.4 186.370 5.7 196.420 6.4 166.1~ 6.4 214.925 8.9 224.326 10.6 220.792 6.1 198.004 4.4 283.228 25.2 183.330 2.5 179.331 1.5 Percent chaf1{1e from- June Apr. 2007 2008 5.7 6.2 6.5 7.4 5.2 1.4 5.4 3.2 3.1 3.5 12.7 14.2 13.7 8.5 52.5 6.6 -10.5 13.1 13.0 32.2 31.7 32.3 31.2 29.9 5.1 -5.8 2.0 5.9 Index June 2008 2.8 222,435 657,362 222.047 219.722 231.903 201.202 235.383 Los Angeles- Riverside- Orange County, CA Percent change from- June Apr. 2007 2008 6.1 2.1 2.5 2.7 4.0 1.0 .2 4.0 .9 .7 1.3 16.8 20.4 20.6 19.7 25.3 3.0 -9.5 7.2 7.0 15.9 15.9 16.3 15.4 14.7 237.235 259.760 275.515 253.070 249.157 255.740 253.664 241.793 304.204 126.658 103.761 214.327 209.552 352.246 344.432 346.545 325.566 325.663 349.606 111.207 124.100 328.479 4.8 4.9 6.4 2.7 2.3 1.4 1.4 1.6 1.1 .7 .2 -3.0 .1 .2 2.8 2.8 3.0 4.6 .1 2.8 222.435 6.1 184.374 8.9 159.689 10.9 217.3n 20.9 108.059 -1.3 261.859 4.0 3.4 3.5 4.5 3.6 7.0 7.0 6.1 -3.7 27.8 -.9 7.0 14.2 14.3 40.8 40.6 41.4 40.0 38.4 4.9 .7 .7 1.0 .6 .3 ,1 -.2 -8.1 14.4 1.2 -4.5 7.3 6.9 19.3 19,4 19.7 19.1 18.5 1.0 1.2 1.0 3.0 3.3 2.9 3.6 4.3 4.5 3.0 17.4 .~ -.2 217.592 207.709 163.794 224.317 222.708 240.764 255.378 328.288 214.392 213.428 1.4 5,4 3.4 .1 2.1 3.5 4.6 8.3 -.3 1.0 6.2 2.1 7.5 2.8 10.6 4.5 13.0 5.0 19.9 7.9 4.7 1.3 4.0 1.0 31.2 14.2 3.5 .6 3.2 .5 CPt Detailed Report-June 2008 Tab'e 39. Consumer Price Index fOr Urban Wage Earners and Clerical Workers (CPJ-W): Selec:t areas, semiannual average', by expenditure category and commodity and service group-Continued (1982-84=100, unless otherwise noted) Item and Group EJrpehdlture category All items 4 ............................. ........................... ......................... All items (1967=100) 5 .............................~............................... F=~~.~~~~.~.:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Food at home .............._..........................................~......... J~()/~::~~.~.::::::::::::::::::::::::::::::::::::::::::::::::::::: Housing 4 ...... ......... .............. ....... ..... .... ........... ......... ............... Shelter ...................... ........................................... ................. Rerlt of primary residence 4 ................................................ Owners' equivalent rent d primary residence 7 ................. Fuels and utilities ............... ....... ........ ................ ............... ..... Household energy..... ........ .... ........... .................................. Gas (pip&d) and e1edriQity ................................................ electricity .... ,.. ............ ....... ........ ........ ........ ....... .......... ..... Utility (piped) gas service ....... ........................................ Household furnishings and operations ................................. Apparel 4 .. ............................. .......... ....................................... Transportation 4 .. ............... ................ ........................... .......... Private transportation .... ....... ......... ....................... ................ Motor fuel ....... .................................................................... GasolIne (all types) ........................................................... GasolIne. unleaded regular 8 .......................................... Gasoline, unleaded rnidgrade 8 9 ................................... Gasoline. unleaded "remlurn 8 ....................................... Medical ~ 4 ........................................................................ Recreation 10 ...... ........ ... ............. ................ ...\.... ........... ......... Education and communication 10 ........................................... Other goods and servic$s 4 .................................................... Commodity and service grol.Ip All items 4 .... .......... ............ ....... ................ ....................... ......... COITIfJl()djtjes ...... ... ..... ... .... .... ...... ..... ........ ...... ...... ........... .... ... Commodities less food and beveragea ................................ Nondurables I~ food and beverages ............................... Durables ........ ........ ....... .............. ............... ....... ........... ....... Services ........... ............................................................ ........... Special aggregate Index.. All items Ies$ medical care 4 .................................................... All items IesI shelter ................................................................. Commodities less food ............................................................. Nondurables .. .... ....... ................ ........ .... ............ ........................ Nondurables less food ............................................_................ Services Ies8 rent of shelter 7 ....................... ............................ ServiatS less medical care seIVices ......................................... Energy 4 .................. .... ._.................... ....... ........ ............ ........... ~ ~ '*::se:r ~';;;gy'4'::::::::::::::::::::::::::::::::::::::::::::: See footnotes at ehd of table. Index Minneapolis- Sl Paul. MN-WI Percent change from.. New York-Northem New Jersey-Long Island. NY.NJ.CT.PA Index Percent change from.. Philadelphia- Wilmington-Atlantic City. PA-NJ-DE-MD Index Percent change from- 1 sf half 1 sf half 2nd half 1 sf half 1 st half 2nd half 1 st half 1 st half 2nd half 2008 2007 2007 2008 2007 2007 2008 2007 2007 202.004 634.011 m.321 225.237 218.995 235.334 264.817 185.768 202.466 204.499 200.914 201.721 191.972 193.929 186.764 218.268 132.245 120.602 193.090 184.929 272.893 274.587 280.439 272.658 310.934 375.595 114.802 116.531 346.401 202.004 178.631 153.115 195.545 112.362 227.978 195.816 203.n4 157.743 213.888 201.007 240.940 216.785 237.434 201.857 197.757 4.1 7.7 8.0 7.8 8.0 3.7 2.4 1.7 2.8 1.5 7.7 6.6 5.8 3.8 8.2 2.0 -1.8 6.9 6.7 23.0 23.3 25.~ 20.4 19.4 4.0 2.0 3.6 4.4 4.1 6.2 5.2 8.5 1.1 2.6 4.1 5.3 5.1 8.4 8.1 3.8 2.5 16.4 2.7 1.8 135 3.0 228.284 649.~1 4.2 4,4 5.1 3.1 1.4 2.9 1.6 2.1 ... 10.7 10.9 10.6 1.3 22.3 2.5 .2 4.0 3.6 13.9 14.1 14.6 13.0 12.6 1.9 216.692 216.419 215.240 222.764 218.303 245.921 293.924 289.864 276.013 197.367 202.007 193.970 173.493 232.829 118.702 102.840 206.388 1 Qa.996 266.346 264.969 268.960 263.436 259.644 365.039 111.843 124.255 374.944 .$ 1.9 2.4 3.0 4.0 3.8 5.9 1.1 2.4 228.284 4.2 181.949 5.6 156.067 6.1 189.188 10.2 108.419 -1.6 275.122 3.3 3.0 3.6 3.7 5.4 5.6 3.0 2.5 12.3 1.9 1.6 223.092 204.272 158.681 205.216 191.388 229.449 268.106 231.436 229.171 233.094 4.2 4.9 5.0 5.2 4.8 3.6 3.7 3.2 4.4 3.0 10.8 11.4 5.7 6.3 4.3 -2.7 -2.5 9.3 9.9 28.6 28.4 28.8 27.9 27.0 2.8 .6 3.0 2.9 4.3 2.5 4.8 3.1 6.0 4.5 7.4 5.0 9.8 7.1 3.4 1.8 3.3 1.7 19.2 12.8 2.7 1.4 2.3 1.1 2.5 223.341 648.730 2.8 2.8 3.4 2.1 1.7 204.m 203.592 215.563 180.431 205.363 231.737 278.311 253.069 249.284 213.958 194.693 203.999- 189.864 229.nS 118.643 103.995 207.985 206.766 301.343 295.492 298.647 285.894 272.517 2.0 1.5 2.3 1.5 7.4 8.0 4.1 1.3 1.9 -.7 -.5 6.3 6.6 18.1 17.9 18.7 16.7 16.1 1.0 404.111 .7 .9 121.134 1.6 117 .882 388.884 2.5 3.9 4.6 7.4 -.7 1.6 223.341 4.2 180.583 5.9 161.954 7.5 192.580 11.1 117.575 .9 275.104 3.2 216.781 208.556 163.966 201.798 194.349 246.322 265.456 231.850 222.794 228.617 4.2 2.5 3.3 3.5 4.3 3.2 .6 1.8 1.9 2.8 1.3 .1 1.1 .9 1.3 .9 3.2 2.2 -.7 -2.3 3.1 1.0 2.8 2.6 3.2 2.4 6.7 6.8 3.0 3.0 3.0 -.8 3.1 11.0 11.2 26.7 26.2 26.5 25.7 24.9 3.6 5.1 3.2 5.9 6.8 7.2 18.2 17.7 18.1 17.3 16.5 2.6 4.6 .7 .0 .9 2.5 4.8 6.3 8.9 1.3 1.1 4.3 5.2 7.2 7.3 10.5 4.0 3.2 16.2 2.7 2.5 2.5 3.5 6.1 5.5 8.5 1.7 1.1 9.8 1.5 1.4 CPI Detailed Report-July 2008 Table 39. Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W): Select areas, semiannual averages, by expenditure category and commodity and service group-Continued (1982-84=100. unless otherwise noted) Itern and Group Expenditure category All items 4 ................................................................................. AD items (1967=100) 5 .............................................................. F=~~.~~~~~.~.:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Food at hon1e ..................................................................... Food away from home 6 ..................................................... Alcoholic beverages 6 ........................................................... Housing" .. ....... ......... ............................... ....... ............ ............ Shetter ... ......... ...................................................................... Rent of primary residence .. ................................................ Owners' equivalent rent of primary residence 7 ................. Fuels and utilities .......... ....... ......... ......... ....... .......... .............. Household energy.............................................................. Gas (piped) and electricity ................................................ Electricity ... ........ .... .... .... ... .... .... .... .... ..... ...... _.. .... .... ....... Utility (piped) gas service ............................................... Household furnishings and operations ................................. Apparel" .......... ............. ....................... .................. ............ .... Tran~ 4...................................................................... Private transportation ............ ............................... ................ Motor fuel ..... .................... ............ ........... ............ .... ........... Gasoline (aU types) ........................................................... Gasoline, unleaded regular 8 .......................................... Gasoline, unleaded midgrade 8 9 ................................... Gasoline, unleaded premium 8 ....................................... Medical care 4 ........ .......... .... .................. ......... .... .......... ......... Recreation 10 .. ................ ........... .... ................\.......... .............. Education and COITlrnunlcati0l110 .............._........................... <>ther goods and services" .................................................... Commodity and service group All items 4 ................................................................................. Cornrnodities ................ ..... ................. ....... .................. .... ....... Commodities less food and beverages ................................ Nondurables less food and beverages ............................... Durables .... ................... ........ ........................... .... .... ........... ServIces ......... ............... ........ ............ ..... ...... ........ ......... ...... .... Special aggr.gate Indexes All iterps less medical care" .................................................... AD items Ies$ shelter ..............................................._................ CQrnrnodlties less food ............................................................. Nondurables .......... ............ ..... ......................................... ......... Nondurabfes less food .............................................................. Services less rent of shelter 7 ................................................... ~ less medical (;8re services ......................................... E:nergy 4 ...... ........ ............... ............................... ....................... ~~~e~=~.~.4.::::::::::::::::::::::::::::::::::::::::::::: See footnotes at end of table. Index Phoenix-Mesa. AZ. 1 Percent change from.. Index Pittsburgh. PA Percent change from.. Index Portland-Salem. OR-WA Percent change from.. 1 st half 1 st half 2nd half 1 st half 1 st half 2nd half 1 st half 1 st half 2nd half 2008 2007 2007 2008 2007 2007 2008 2007 2007 118.222 125.018 125.280 129.833 117.046 121.065 116.923 115.818 117.580 115.206 136.638 142.101 141.527 145.956 133.283 107.342 111.730 12O.&<< 121.015 291.528 296.711 303.953 286.792 280.873 13O.a60 103.924 111.663 123.931 118.222 116.689 112.n2 150.651 83.594 119.678 117.662 119.609 112.949 136.292 148.349 123.647 118.341 215.498 111.639 109.056 4.0 2.6 5.4 2.6 5.6 2.6 5.9 2.7 4.3 1.6 2.8 2.5 2.9 .7 2.8 1.1 5.3 1.6 2.8 1.0 6.4 -1.0 7.0 -5.4 6.8 -5.6 8.7 -5.1 2.0 -.3 -.1 1.5 -3.2 2.8 7.6 7.0 7.0 6.6 23.9 21.5 23.1 20.9 23.3 21.2 22.5 20.5 22.5 19.8 5.0 3.0 2.7 1.1 2.3 .9 2.2 .9 4.0 4.4 3.8 7.4 -.9 3.8 4.0 4.6 3.8 6.5 7.2 5.0 3.6 17.1 2.6 1.9 136 202.892 603.433 207.568 205.766 205.238 208.882 221.187 193.151 197.886 198.518 205.583 255.431 249.606 237.962 166.856 315.552 133.314 142.991 187.494 190.137 299.685 299.361 297.743 316.417 287,132 344.901 108.396 123.818 374.264 2.6 3.9 4.8 8.3 .1 1.4 202.892 5.5 187,301 1.3 173.409 8.7 228.564 13.0 114.769 1.2 222.751 4.0 5.5 5.0 4.9 5.5 4.1 4.9 3.4 1.0 1.4 .9 13.8 16.2 11.9 9.5 13.8 1.1 -.8 12.7 13.1 31.1 30.7 30.9 30.1 29.8 7.1 4.2 4.1 3.0 2.6 3.3 4.8 5.3 8.0 1.9 1.2 9.9 1.6 1.3 197.759 5.4 3.4 205.239 7.1 4.3 176.048 8.6 5.0 219.518 9.2 5.3 229.781 12.7 7.6 219.532 6.7 4.7 215.553 3.6 2.5 275.541 24.1 14.9 195.566 3.0 1.9 193.539 2.6 1.7 3.4 209.456 603.657 193.119 193.272 191.303 200.239 196.069 200.080 222.399 224.968 234.556 222.109 188.684 226.630 250.976 194.544 110.543 118.273 2.8 2.6 3.2 2.0 3.9 2.4 .5 1.1 1.1 9.4 11.0 8.4 8.3 8.0 1.4 .0 1.3 7.2 18.4 18.0 18.1 17.8 17.6 4.6 3.5 215.340 214.768 303.882 305.146 303.455 257.491 281.166 395.665 113.063 104.458 407.819 2.0 1.7 3.4 4.2 5.0 7.8 .4 2.7 209.456 173.198 161.997 202.595 122.2n 250.438 202.892 206.625 162.936 198.158 200.990 267.265 240.994 248.860 207.439 210.740 4.1 2.3 4.3 4.1 4.6 3.9 6.8 3.3 3.0 4.7 2.8 4.9 5.6 5.0 11.~ -8.4 2.6 2.4 7.0 6.9 20.5 20.4 20.6 20.3 19.7 6.1 2.2 2.1 3.0 1.2 4.0 .9 1.0 2.3 1.4 -1.0 -1.6 -2.1 ..6 -5.8 1.7 -.4 5.9 5.9 19.8 20.0 20.4 19.3 18.9 2.4 1.2 -.2 .6 3.7 .4 3.0 4.1 4.8 6.1 9.3 -.5 3.6 2.3 3.6 4.5 8.4 -.8 1.2 4.0 2.3 4.5 2.8 5.1 4.4 6.9 5.3 92 8.2 3.9 1.3 3.2 1.1 15.8 12.4 3.0 1.3 2.7 1.1 CPI Detailed Report-July 2008