The Governor will hold a press conference at about 11:00 this morning to announce the creation of a Commission:

The Governor will hold a press conference to announce creation of the bipartisan Commission on the 21st Century Economy that will address California’s chronic budget problems and modernize our state’s tax laws.

Update: Here is the video:

Governor Announces Creation of Bipartisan Commission on the 21st Century Economy from Max Shenker on Vimeo.