BusinessWeek.com: Things on a few fronts appear to be trending towards some kind of economic recovery, but in the United States' largest financial powerhouse state, the story is still trending downwards. Juliet Williams and Michelle Rindels' related article, Calif. jobless rate climbs to record 11.5 percent, details the situation from the Golden State. They write on the Terminator-in-Chief's thoughts about this not unexpected turn of events:

Gov. Arnold Schwarzenegger said in a statement that with the massive international economic downturn, it's natural the state would see historic job losses.

"A full recovery will not happen overnight -- it will take time, which only further underscores the need to continue the economic stimulus measures I fought for in the February budget," said Schwarzenegger. "There is no greater priority right now than to stimulate the economy, create jobs and get California back on the road to prosperity."

Schwarzenegger, a Republican, has proposed laying off another 5,000 state employees, along with billions of dollars in cuts to education and social welfare programs, to address a $24.3 billion deficit for the fiscal year that starts July 1.

That road might be riddled with huge potholes for those hoping to get back to work, but it looks like the Governator is serious about getting things patched up. Cutting 5K state jobs and making a substantial reduction in government funding -for what some would see as the most important programs in any state's budget- is sure to be controversial, but at least there's some semblance of action in the face of a worsening situation.

A VC: Should your venture capital motto be "Wanted: LTR?" Fred Wilson thinks that well-founded and lasting relationships are the key to future returns on your investments and uses real-life lessons to prove his point. From Building Successful Long Term Relationships Wilson writes, "Like a marriage, a venture investment is a long term relationship. None of mine have lasted twenty-two years and none will be as important as my marriage. But if you treat them like a marriage (on both sides) and work hard at them, communicate early and often, are tolerant, and most importantly share your vision and values, it can be a very rewarding experience, both emotionally and financially."  Wilson also provides some tips on how to make your long-term relationships go the distance while bringing a grounded and dignified point-of-view to the subject.

Adventures in Capitalism: From the outside looking in, the practice of entrepreneurship appears to be full of high-stress situations and critical deadlines/decisions, but there's another side, a more human one, to the day-to-day life of an entrepreneur that is less frequently seen. Chris Yeh offers up a one day diary of his life as an entrepreneur including some genuine and much-relatable moments that should help the general layperson understand that entrepreneurs are people, too. Be sure to check out Yeh's blog post, A Day In The Life Of Chris Yeh, for an insider's look at a day in the life.

Entrepreneur.com: David G. Javitch, Ph.D., organizational psychologist and president of Javitch Associates, thinks that the old methods of motivating your employees might not work so well after all but he hopes that his recent piece, with its closing list of 10 ways to *actually* motivate your employees, will lead you in the correct direction. Javitch opens with this premise: "Business owners need to ensure that their employees are productive and eager to do the best job possible--this is especially true during today’s challenging economic times. Yet every industry and every organization has people who simply do not produce work in the quality that they are capable of providing. That can create costly problems for a manager. Leaders often miss the mark when trying to ramp up employee productivity. Let’s debunk some of the top motivational myths." 5 Employee Motivation Myths Debunked for the win and while you're at it, be sure to do some thinking about how you can better manage your employees to be all they can be for your venture.

VCBall: Although a bit dated, Steve Brotman's Go for the Dark Horse, Obama relates to startups and venture capital investments alike as Brotman suggests that the real magic behind any successful venture is the judicious application of the Dark Horse, or unknown quantity, principle. From his 2008 post, Brotman writes why every businessman needs to take a risky gamble, "I think most entrepreneurs, as well as most VCs, and as most Americans, deep down, want to believe in Dark Horses too-- for good reason I think. Supporting the underdog is a uniquely American trait; it's a belief that hardwork and tenacity in the land of opportunity will pay off.  Americans and entrepreneurs know that Dark Horses know they are Dark Horses; Dark Horses have so much more to prove than traditional candidates: they need to win, not for money or love or power or fame but for the fact that no one expected them to get there and they have a lot to prove, to themselves if nothing else-- and nothing to lose if they just lay it all out there.  This set of traits is exactly what every startup needs." Three cheers for the underdog! Be sure to check out the rest of the story for more on how betting on Dark Horses can pay off handsomely.