Partners
Latest Comments
- Who Has Two Thumbs and Loves Their Fisher Space Pen? (5 comments)
- Word of the Day – Serial Comma or Oxford Comma (2 comments)
- 5 Most Wanted Guns (1 comments)
- Which AR-15 Collapsible Stock is the Toughest? (2 comments)
- One thing that really is true / This here’s a zoo and the keeper ain’t you / And I’m sick of you (2 comments)
- Local Restauranteur Stands up to Local Idiot Politician Stacey Campfield (18 comments)
- How Did Stainless Steel Appliances Get So Popular? (2 comments)
- Watchmen Prequels (2 comments)
- Too Much of Everything: Car Companies (1 comments)
- Amazon Reviews You Can Use (1 comments)
Subscribe
Archives by Date
Tags
1911 amazon apple ar-15 bailout banks bbq beretta biofuels bullshit artists california china climategate conversations d40 deficit dslr video facebook fdic flash photography global warming glock gold google guns and cameras inflation investing jesus chrysler Lost million dollar ideas mortgage mess nikon nikon d7000 obama pensions porkulus preparedness remington ruger silver smith and wesson the fed unions wordpress youtubeAdmin
Tag Archives: california
California Dreamin’ is Meetin’ with Reality
How Much Could California’s Government Pensions Cost Taxpayers?: This week both of California’s largest government employee pension funds, CalPERS and CalSTRS, released their portfolio earnings numbers for the most recent twelve months. In a statement released on January 24th, “CalSTRS … Continue reading
California Dreamin’ is Meetin’ with Reality
CalPERS Earned 1.1% on Investments in 2011, Plan Assumptions are 7.75%: The nation’s largest public pension fund, the California Public Employees’ Retirement System, posted a 1.1% return on its investment portfolio in 2011, Chief Investment Officer Joseph Dear told his … Continue reading
Good News for California
Moody’s now rates Illinois as having the worst credit rating in the country.
This is your train on drugs
Advisory group recommends withholding billions for high-speed rail: Over $2.6 billion in state bond money dedicated for the California’s high-speed rail plan should be withheld until the project establishes a more financially viable business model, an advisory council recommended on … Continue reading
California’s High Speed Rail Now Projected at $98 Billion
Washington Post – California’s high-speed rail system is going nowhere fast: THINGS JUST WENT from bad to worse for high-speed passenger rail in California. After the Golden State’s voters approved a $9 billion bullet-train bond issue in 2008, officials said … Continue reading
California dreamin’ is meetin’ with reality
Michael Lewis in Vanity Fair – California and Bust: At that point, if not before, [San Jose] would be nothing more than a vehicle to pay the retirement costs of its former workers. The only clear solution was if former … Continue reading
Remember California’s High Speed Rail Project?
It’s way over budget. Try to act surprised. The California High-Speed Rail Authority’s new cost estimates released Tuesday show the initial stretch of construction between Merced and Bakersfield will cost $10 billion to $13.9 billion depending on how it’s built. … Continue reading
Schwarzenegger Decriminalizes the Dope
LA Times – Schwarzenegger approves bill downgrading marijuana possession of ounce or less to an infraction: Gov. Arnold Schwarzenegger, who opposes legalization of marijuana for recreational use, has approved legislation downgrading possession of an ounce or less from a misdemeanor … Continue reading
In Bizarro World Bankruptcy Am Good
Zero Hedge – 32 States Now Officially Bankrupt: $37.8 Billion Borrowed From Treasury To Fund Unemployment; CA, MI, NY Worst: Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the … Continue reading
Chicago Going as Bankrupt as California
Mish – Illinois Doesn’t Pay Bills; Crisis Pushes Businesses to Edge of Bankruptcy: Illinois isn’t bothering with the formality of issuing IOUs, as California did last year. It simply doesn’t pay. Right now, $4.4 billion worth of bills, some dating … Continue reading
California Uber Alles
Ride Fast – The California Way – Stealing from the wage earners: As of yesterday, California is stealing an additional 10% of wage earners pay, by pre-deducting today your future taxes of tomorrow. They say it’s all wonderful and rainbow, … Continue reading
CalPERS actuary says pension costs “unsustainable”
Mish – CalPERS Admits California “Pension Costs Unsustainable” – So What To Do About It? The CalPERS chief actuary says pension costs are “unsustainable,” and the giant public employee pension system plans to meet with stakeholders to discuss the issue. … Continue reading
California pensions loses 23% of assets, managers get millions in bonuses
Sacramento Bee – CalPERS, CalSTRS award big bonuses despite losses: California’s two biggest public employee pension funds handed out millions of dollars in bonuses last year to their top executives and investment managers, despite losing billions of dollars. The biggest … Continue reading
California’s farce continues towards its final act
Courthouse News – California won’t accept its own IOUs for payment: SAN FRANCISCO (CN) – Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but … Continue reading
Judge orders California to release 40,000 prisoners
Wall Street Journal – California Scrambles to Prepare for Inmate Release: California state and local officials, already reeling from budget cuts and public-safety layoffs, are struggling with a federal order to release about 40,000 inmates to reduce prison overcrowding and … Continue reading
Study: refinancing, not buying at top, caused most SoCal defaults
Via Calculated Risk: Michael LaCour-Little, a finance professor at California State University at Fullerton, looked at 4,000 foreclosures in Southern California from 2006-08. He found that, at least in Southern California, borrowers who defaulted on their mortgages didn’t purchase their … Continue reading
CALPERS plans riskier bets to recoup losses on previous risky bets
New York Times – California Pension Fund Hopes Riskier Bets Will Restore Its Health: Mr. Dear wants to embrace some potentially high-risk investments in hopes of higher returns. He aims to pour billions more into beaten-down private equity and hedge … Continue reading
California pension funds lose $100 billion in a year
LA Times – California’s biggest government pension funds lose almost $100 billion: CalPERS’ preliminary losses were $56.2 billion in the fiscal year that ended last month, while the California State Teachers’ Retirement System lost $43.4 billion. On Tuesday, the country’s … Continue reading
SEC: Cali. IOUs should be treated as securities
Sacramento Business Journal – SEC rules that IOUs should be treated as securities: The U.S. Securities and Exchange Commission on Thursday issued its opinion that California’s IOUs should be treated as securities under federal securities law. Under that opinion, holders … Continue reading
California: “Dude, where’s 58% of my budget?”
California has the worst budget shortfall of the 50 states, both in dollars and percent of budget: California: $53.7 billion shortfall or 58 percent of its budget Arizona: $4 billion shortfall or 41 percent of its budget Nevada: $1.2 billion … Continue reading
RSS Posts Feed
