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BUSINESS: Potential federal government shutdown rattles local boardrooms


Friday, April 8, 2011

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As the federal government lurched toward a shutdown for the first time in 15 years this week, the standoff sowed unease in corporate boardrooms throughout North San Diego County and Southwest Riverside County.
Senior executives with Oceanside-based Pacific Marine Credit Union, which says 65 percent of its 74,000 members receive salaries from the military, agreed Friday to temporarily cover up to half ---- or $18 million ---- in unpaid salaries if the government were to shut down.
Its military members with direct deposit get paid $37 million twice a month, or $74 million monthly.