By: Len Raphael
The POB’s was approved tonight on a 6 to 2 vote. Only Schaaf and De le Fuente opposed. Schaaf summed up her opposition succinctly as that it was worth paying a few month’s of PFRS payments to take the...
View ArticleBy: Len Raphael
Calpers Misses Big on Investment Target WSJ July 16, 2012 By MICHAEL CORKERY The California Public Employees’ Retirement System said financial turmoil in Europe and subpar performance by outside...
View ArticleBy: Len Raphael
SACRAMENTO, Calif. (AP) — The nation’s largest public pension fund collected a dismal 1 percent annual return on its investments, a figure far short of projections that will likely bring pressure on...
View ArticleBy: Len Raphael
When Council approved borrowing +200Mill more to dump into the maw of the ancient PFRS pension system, one of the council members remarked that she didn’t want to make economic predictions. That’s...
View ArticleBy: Ron
Len, thanks for continuing to raise awareness on this. PFRS has a long and sad history with this city. This economy is no time to be adding new debts that depend on 2007-era growth numbers in the...
View ArticleBy: lenraphael
Ron, Based on reading the vague, feel good “platforms” of the various City Council candidates, I’d say we will have to hit Chapter 9 before anything changes here. All of them are hoping to get the...
View ArticleBy: Len Raphael
The tragedy here is similar to what elected officials did in other cities and states: they promised retirement pensions and benefits to employees who bargained in good faith. The employees built their...
View ArticleBy: Len Raphael
B is for bankruptcy: this is the first time any of our elected officials has publicly used the word in a context other than saying it will never happen here. SF Chron quotes Oakland City Councilwoman...
View ArticleBy: Len Raphael
Luckily for Wall Street, there’s a sucker born every minute. Oakland City Council is right up there. NYT’s article today about Stockton: “Alicia H. Munnell, director of the Center for Retirement...
View ArticleBy: WP Social Press Discount
With hackers around every corner, this continues to be an issue for all websites, regardless of how they are built. However, it is crucial for you to see how easily it adapts the changes for different...
View Article
