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CalWatchdog Morning Read – August 2

Assemblyman under domestic violence restraining order goes reclusive Largest state employees union close to going on strike? Coal divestment raises concerns “CalPERS grapples with low earnings” Supporters spend big on gun control and tax on rich ballot measures  Good morning!  After

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CalWatchdog Morning Read – July 12

State’s largest pension fund down since last year San Diego congressman swapping donations State controller dinged for late contribution reporting Oakland firm fined  over $100,000 for laundering campaign contributions Big spending by pharmaceutical Good morning! Lots of ethics and campaign

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CalWatchdog Morning Read – April 21, 2016

Economic outlook grim, reality not as bad. Plus minimum wage, pensions and taxes. Good morning. A new report on the economic forecasts and past performances of the states casts a grim view of California’s outlook, but shows past performance has

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CA sues Morgan Stanley over public pension funds

  The State of California has sued investment bank Morgan Stanley, filing a complaint in San Francisco Superior Court, seeking redress for what officials said was massive harm to its public-sector workers. “Public employees in California, including peace officers, firefighters,

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CalPERS has faith in imperiled energy status quo

Is the California Public Employees’ Retirement System about to make another big mistake with a mistimed investment strategy, this time in the industrial solar sector? Beginning 13 years ago, CalPERS invested heavily in real estate at the height of the

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CA still struggling with unfunded liabilities

Despite a concerted effort from Gov. Jerry Brown to keep California from slipping back into the financial abyss, the state’s finances remain threatened by massive unfunded obligations. “It’s California’s debt and liabilities that are concerning financial analysts, particularly the state’s rapidly

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Drug prices latest CA ballot battle

Responding to a growing sense of alarm among state officials and the general public, the AIDS Healthcare Foundation has secured approval for a ballot initiative that would coercively reduce the cost of prescription drugs. The California Drug Price Relief Act,

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2011 San Francisco pension fix not panning out

The pension reform measure that San Francisco voters passed in 2011 isn’t yielding the savings that city leaders expected, and for several reasons — one of which should worry all pension-paying institutions. That reason: Retirees are living significantly longer than

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CalPERS board accused of bullying, deceit, flouting laws

A member of the CalPERS board has gone rogue, using public records laws to get documents from the agency while facing warnings that it is unacceptable for him to criticize staff at board meetings. Ed Mendel has details at Calpensions.com:

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Chuck Reed: Reform measure will bite pension liability ‘elephant’

Former San Jose Mayor Chuck Reed acknowledged at a recent taxpayer forum that his latest proposed pension reform initiatives won’t solve California’s $350 billion unfunded retirement benefit liability problem. But he thinks they’ll help. “Sometimes you have to eat the

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