Archive for February 8th, 2011

InlandPolitics: S.B. County Registrar of Voters returning to Riverside

Verjil

Tuesday, February 8, 2011 – 05:15 p.m.

San Bernardino County Registrar of Voters Kari Verjil has tendered her resignation and will be going to Riverside County effective February 24th.

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Brown

PolitiCal
On politics in the Golden State
February 8, 2011 | 2:45 pm

Gov. Jerry Brown met with U.S. Health and Human Services Secretary Kathleen Sebelius in Sacramento Tuesday to ask for federal help to solve the state’s budget problem.

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LATimes: CalPERS suit accuses Lehman Bros. of fraud

By Marc Lifsher, Los Angeles Times
February 9, 2011

Reporting from Sacramento —

The nation’s largest public pension fund accused Lehman Bros. Holdings Inc., its former top executives and numerous bond underwriters of fraud and making materially false statements about losses from mortgage-backed securities during the financial crisis of 2007 and 2008.

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February 8th, 2011, 2:30 pm · posted by Kimberly Edds, Staff Writer

The County of Orange’s fight to overturn the county’s generous “3 percent at 50″ pension plan for sheriff’s deputies is not over just yet. Next stop: the California Supreme Court.

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Tuesday, February 8, 2011 – 09:15 a.m.

Defiance! Defensiveness! Politics!

That’s what seems to be coming from San Bernardino County Treasurer Larry Walker.

Walker is currently managing trustee of the San Bernardino County Employees Retirement Association (SBCERA), while the fund searches for a new executive director and chief investment officer.

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Hansberger

Tuesday, February 8, 2011 – 07:25 a.m.

Former San Bernardino County Third District Supervisor Dennis Hansberger was quietly cleared of a complaint over document destruction last year.

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DailyBulletin: Feds won’t ID two listed in charges

Sandra Emerson, Staff Writer
Created: 02/07/2011 05:16:21 PM PST

UPLAND – The U.S. Attorney’s Office will not release for now the names of two individuals listed in the charges filed against two men associated with the FBI’s Upland-based investigation.

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The PE: Cassie MacDuff: Bitter Pill on Pension Plan

CEO Greg Devereaux, Treasurer Larry Walker and Director of Governmental Relations Mark Kirk

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10:00 PM PST on Monday, February 7, 2011
Cassie MacDuff

A new report on a growing deficit in the San Bernardino County employee pension fund has the Board of Retirement on the defensive.

Managing Trustee Larry Walker, the county treasurer, on Friday called the report an “attack piece,” but quickly backpedaled, saying the staff member who compiled it may have missed the big picture: Over 28 years, the fund’s earnings have averaged 9 percent a year.

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10:00 PM PST on Monday, February 7, 2011

By KIMBERLY PIERCEALL
The Press-Enterprise

Arrowhead Credit Union, under government control since June 25, had fewer assets, employees and members by the end of 2010 compared with a year ago.

The number could drop further in the first quarter since the agency announced it would close eight branches by the end of last year.

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The Sun: Kilmer’s comment disputed

Keith Kilmer and Wendy McCammack

City manager: Staffer denies police chief’s ‘safety’ remark
Josh Dulaney, Staff Writer
Posted: 02/07/2011 08:18:29 PM PST

SAN BERNARDINO – City Manager Charles McNeely said Police Chief Keith Kilmer never told a new city staffer that he could not ensure her safety if she moved to the city.

McNeely told officials at Monday’s City Council meeting that he spoke with the staffer in question and “she said the chief never made that statement.”

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The PE: Impacts of police chief’s DUI remain a year later

10:05 PM PST on Monday, February 7, 2011

By ALICIA ROBINSON
The Press-Enterprise

Special Section: Police Chief Crash Probe

A year ago this morning, Riverside’s then-police Chief Russ Leach was stopped at 3 a.m. while driving his city-owned Chrysler 300, which was heavily damaged and down to its rims on one side. Though he smelled of alcohol and couldn’t tell his officers what had happened, he got nothing more than a ride home.

No sobriety check. No arrest.

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The Sun: University of Redlands bond rating downgraded

School works to regain financial footing
Chantal M. Lovell, Staff Writer
Posted: 02/07/2011 06:33:39 PM PST

International bond ratings agency Fitch downgraded the University of Redlands’ revenue bonds three notches last week, from A to BBB.

Fitch Inc., had not assessed the university since 2008, said Colin Walsh, a director at Fitch. The downgrade is a result of budgetary factors that have happened since that time.

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DailyBulletin: OMSD prepares for budget scenarios

Canan Tasci, Staff Writer
Created: 02/07/2011 09:19:14 PM PST

ONTARIO – Ontario-Montclair School District could face up to $13.2 million in budget cuts for the next school year if the Legislature and voters are not willing to OK a tax extension proposed by the governor.

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VVDailyPress: Reserves help A.V. rebalance mid-year budget

February 07, 2011 4:14 PM
Brooke Edwards

APPLE VALLEY • The town will need to dip a bit further into its reserves to rebalance its budget mid-year, according to a staff report for Tuesday’s special meeting.

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February 7th, 2011, 4:46 pm · posted by Kimberly Edds, Staff Writer

The Orange County Board of Supervisors will vote in closed session Tuesday whether to take their fight to overturn the county’s generous “3 percent at 50″ pension plan for sheriff’s deputies to the state Supreme Court.

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10:38 PM PST on Monday, February 7, 2011

By JIM MILLER
Sacramento Bureau

PDF: Case Study from the San Bernardino Valley Enterprise Zone

SACRAMENTO – Supporters of tax-benefit zones in San Bernardino and elsewhere came out in force Monday to criticize Gov. Jerry Brown’s plan to dissolve the program.

California’s 42 enterprise zones have come under Capitol scrutiny in recent years. Proponents say they are a vital tool to create jobs in economically troubled areas. Critics call the zones an increasingly expensive perk for big business, costing the state more than $500 million.

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SacBee: CalSTRS set to lose nearly $73 million

Published: Tuesday, Feb. 8, 2011 – 12:00 am | Page 6B

CalSTRS stands to lose nearly $73 million after a New York office building it owns was hit with a foreclosure lawsuit.

Lenders last month sued in New York state court to foreclose on a Manhattan office building owned by the California State Teachers’ Retirement System and its partner, Silverstein Properties.

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By Jack Chang
jchang@sacbee.com
Published: Tuesday, Feb. 8, 2011 – 12:00 am | Page 3A

The leaders of California’s three higher education systems Monday said they are preparing to make budget cuts proposed by Gov. Jerry Brown, but warned that fewer degree programs and enrollment slots would likely result.

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SacBee: State worker retirements jumped 23 percent in 2010

The State Worker
Chronicling civil-service life for California state workers
February 7, 2011

Nearly 12,000 state workers drew their first pension checks last year, up 23 percent from 2009, according to the latest retirement application data from CalPERS (click on the table above to enlarge it).

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LATimes: 6 charged in Bell corruption case reject plea deal

By Jeff Gottlieb, Corina Knoll and Christopher Goffard, Los Angeles Times
February 7, 2011, 7:00 p.m.

Lawyers for six current and former Bell leaders said their clients would not accept plea deals that would have sent them to prison for two years and forced them to pay back hundreds of thousands of dollars allegedly looted from the city treasury.

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