Union In The News – Weekly Highlights

By Sean O’Striker
07/26/2016
Raising Minimum Starting Wages to $15 per Hour Would Eliminate Seven Million Jobs By James Sherk, July 26, 2016, Democracy Now Prominent Members of Congress have proposed raising the minimum wage to $15 per hour, more than doubling the federal minimum wage. States with lower costs of living would see an even greater real increase....

Minnesota’s Toxic Twins

By Larry Sand
07/26/2016
Randi Weingarten and Hillary Clinton embrace, as parents sue to modify rigid, anti-child union work rules. The yearly American Federation of Teachers wingding was a doozie this year. The 100th anniversary of the union and the presence of Democratic presidential nominee Hillary Clinton made for an especially noxious four days in Minnesota – a forced...

TAGS: American Federation of Teachers, Campbell Brown, Chris Stewart, Hillary Clinton, Larry Sand, Randi Weingarten, seniority, teacher shortage, teachers union, tenure

Unraveling California’s New “Fiscal Paradox”

By David Kersten
07/25/2016
California taxpayers are getting taken to the cleaners, but most of them are completely in the dark about how and why. I will pose a quick question:  Does it seem strange that California has recorded record revenue increases, yet we also see a record number of tax increases and bond issuances on the ballot? In...

TAGS: public employee unions, Robert Reich

The Consequences of Weak Pension Earnings

By David Crane
07/22/2016
Several reporters have asked about the consequences of CalPERS’s weak investment earnings. Although CalPERS has not issued an actuarial report since June 30, 2014, one can draw an inference that its Unfunded Liability has grown about $50 billion since then, to $140 billion. Here is how you get there: Start from this chart on page...

Union In The News – Weekly Highlights

By Sean O’Striker
07/19/2016
Diablo Canyon Settlement May Hinge on Cost Allocation By Patrick Ferguson, July 19, 2016, JD Supra On June 21, 2016, Pacific Gas and Electric Company (“PG&E”) announced a plan to close down the state’s last remaining nuclear power plant, the 2.3 gigawatt Diablo Canyon plant near San Luis Obispo, by 2026. Diablo Canyon currently produces...

Government Unions Benefit from the Asset Bubble that Harms Workers

By Edward Ring
07/19/2016
Earlier this month the California Policy Center released a study that provided additional evidence that the U.S. stock indexes are overvalued by approximately 50%, along with calculations showing the impact of a major downward correction on the solvency of California’s state and local government pension systems. Stocks are now at unsustainable bubble valuations. Not covered...

TAGS: asset bubble, CalPERS, low interest rates, Wall Street corruption

School Choice and Its Foes

By Larry Sand
07/19/2016
My brief talk Saturday at FreedomFest identified those who try to deny school choice to the children of America and the tactics they use to do it.  On a recent panel at FreedomFest, a libertarian gathering held yearly in Las Vegas, I along with National School Choice Week President Andrew Campanella, Friedman Foundation State Programs...

TAGS: ACLU, Bob Bowdon, Choice Media, Florida Education Association, Friedman Foundation, Greg Forster, Jonathan Butcher, Larry Sand, National Education Association, National School Choice Week, school choice, tax credit scholarship, teachers union, Valerie Strauss, voucher, Zelman v. Simmons-Harris

Pensions and Taxes Increase While Labor Unions go Unchallenged

By Joel Fox
07/18/2016
In January 2015, the Manhattan Institute’s Steve Malanga, writing in the Wall Street Journal about public pension costs gulping down tax raises, quoted me saying that no matter what local politicians tell voters, when you see tax increases, think pensions. To paraphrase Ronald Reagan: Here I go again! Recent accounts indicated that the California Public Employees’...

TAGS: California Public Employees Retirement System, Dan Walters, Steve Malanga

SUITABLE FOR QUOTING: Expert Responses to CalPERS' Monday, July 18 Earnings Report

By Will Swaim
07/18/2016
For Immediate Release July 18, 2016 California Policy Center Contact: Will Swaim Will@CalPolicyCenter.org (714) 573-2231 California Policy Center Responses to Monday, July 18, 2016 Earnings Report For reporters and commentary writers, the California Policy Center can make available two public finance experts. We also offer for publication these immediate responses to the CalPERS report:   ED...

TAGS: CalPERS, public employee pensions, Wall Street