More than 900,000 current and former public school teachers are covered by the California State Teachers’ Retirement System (CalSTRS). The pension system has $210 billion in net assets. It will need all of it and more, since it holds only 63.7 percent of the funds necessary to pay all those teachers what they are owed....
Google knows where you live, how you earn a living, what you do for fun, and who your friends are. And it wants to know more. An internal company video obtained this week by The Verge reveals the company’s plans for total data collection, in which “Google helps nudge users into alignment with their goals, custom-prints personalized...
Sacramento It’s rare that a politician will say something that is praiseworthy and anger-inducing in the same breath. Nevertheless, Gov. Jerry Brown accomplished that unusual feat when he released his May revised budget, and told cities that the state government isn’t in a position to help them with their soaring pension costs. “They have to...
Sacramento – The city of Bell has been California’s poster child for local-government corruption, ever since the Los Angeles Times in 2010 exposed the greed and mismanagement that plagued the Los Angeles County burg. The story was a juicy one: The leaders of a tiny impoverished city lavished huge salaries and benefit packages on themselves,...
The next generation of vehicles will transform transportation in several fundamental ways. What is coming will be as revolutionary in our time as the transition from horses to horseless carriages was over a century ago. Some increments of this dawning revolution are already here in realized products. Electric drivetrains. Collision avoidance systems. Self-driving cars. Cars...
Sacramento — In its argument in the U.S. Supreme Court’s Janus case, which challenges the right of unions to collect union dues for collective-bargaining purposes, the American Federation of State, County and Municipal Employees argues that collective bargaining is not inherently political. But the plaintiff Mark Janus, an Illinois state employee, argues that everything a...
In July 2012, Elon Musk sat down for a “fireside chat” with Sara Lacy, founder of the PandoDaily website. In between discussions of Paypal, Tesla, and SpaceX, 43 minutes in, Musk unveiled his idea for the “Hyperloop,” a new transportation technology that “incorporates reduced-pressure tubes in which pressurized capsules ride on air bearings driven by...
Sacramento – In the seven years since Gov. Jerry Brown shut down California’s redevelopment agencies, their defenders have managed to resuscitate their image. Never mind that these controversial agencies ladled out corporate welfare, wantonly abused eminent domain on behalf of developers and diverted $5 billion annually from public services. A new bill would bring them...
California’s transportation future is bright. In every area of transportation innovation, California-based companies are leading the way. Consortiums of major global companies have offices throughout the San Francisco Bay area, pioneering self-driving cars that consolidate technologies from not just automakers, but cell phone manufacturers, chip designers, PC makers, telecoms, and software companies. In Southern California...
Sacramento The California Public Employees’ Retirement System’s report released last week touts all of the pension fund’s good news, which it says “has built a solid path forward for the long-term future of the fund.” But as longtime pension reporter Ed Mendel pointed out in his recent blog, the pension fund’s future is still quite...
The world has progressed in amazing ways since 1983, but for the most part, public education has stagnated. In 1983, the first mobile telephones intended for public use were released, ARPANET became the technical foundation of the internet, and A Nation at Risk: The Imperative for Educational Reform was released. The latter was a report...
Voters in tiny, affluent Sierra Madre, three square miles of leafy neighborhoods nestled at the foot of the majestic San Gabriel mountains, had an opportunity earlier this week to repeal their utility tax. As reported in the San Gabriel Valley Tribune, by a margin of more than four-to-one, they decided to keep their tax. Opponents...
MOVE OUT: U.S. Marines at Camp Pendleton, California, preparing for deployment, Oct. 24, 2017. (U.S. Marine Corps photo by LCpl Anabel Abreu Rodriguez) Among the many burdens we place on military families, there’s frequent re-location from one military duty station to another – one year you’re in North Carolina, the next in Southern California or...
New Jersey’s police and fire unions have demanded that the state give them control over their own pension destiny, and have convinced the Legislature to transfer management of their pension fund to a union-controlled board of trustees. Some Garden State residents have denounced the plan as the equivalent of giving unions a “blank check,” given...