Categories
San Francisco/California

Depression

As far as the hotel (and presumably restaurant) industry is concerned, Silicon Valley remains in not just a recession — but a real depression

The federal government dropped its per-diem rate for Silicon Valley on Oct. 1 by 30 percent — to $106 a night to reflect the lower costs. Only nine areas nationwide saw the federal per-diem rate drop while 23 were elevated and the rest remained the same.