Archive for January 21st, 2011

YahooFinance (NYTimes): A Path Is Sought for States to Escape Debt Burdens

MARY WILLIAMS WALSH, On Thursday January 20, 2011, 8:56 pm EST

Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.

Unlike cities, the states are barred from seeking protection in federal bankruptcy court. Any effort to change that status would have to clear high constitutional hurdles because the states are considered sovereign.

Read the rest of this entry »

The PE: Agencies for ex-air bases act to guard their funding

12:10 AM PST on Friday, January 21, 2011

By KIMBERLY PIERCEALL
The Press-Enterprise

Two Inland groups overseeing the redevelopment of former Air Force bases took steps this week to prevent the state from siphoning away the agencies’ funds.

Read the rest of this entry »

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Jan. 20, 2011 – 10:40 am
Last Modified: Thursday, Jan. 20, 2011 – 5:16 pm

California’s two big public pension funds said today they earned investment returns of more than 12 percent last year, boosting their portfolios to levels not seen since the stock market crashed in 2008.

Read the rest of this entry »

MountainNews Editorial: True to His Principles

Friday, January 20, 2011

Though he created what’s shaping up as a hornet’s nest of indignation and bitterness by opposing Supervisor Josie Gonzales’ bid for the chairmanship of the county board of supervisors last week, Supervisor Neil Derry could have done nothing else, as we see it.

Read the rest of this entry »