Archive for the ‘ Investments ’ Category

Los Angeles Times: Carl Icahn dumps all his Apple shares and makes $2 billion

Apple Inc.

Apple shares have been reeling this week after disappointing earnings results. (Matthias Schrader / Associated Press)

Paresh Dave
April 28, 2016

Billionaire business magnate Carl Icahn, whose investment decisions can influence the stock market, said Thursday that he dumped what was left of his nearly 1% stake in Apple Inc. on fears that Chinese authorities would bully the iPhone maker.

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Los Angeles Times: Apple’s quarterly sales fall for the first time in 13 years

Apple Inc.

By Paresh Dave
April 26, 2016

Apple Inc. forewarned investors of its first-ever drop in iPhone sales and its first decline in quarterly revenue in 13 years.

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NYSE - Gannett Station

A specialist works at the post that handles Gannett on the floor of the New York Stock Exchange on Aug. 5, 2014. (Richard Drew / Associated Press)

Times staff and wire reports
April 25, 2016

USA Today publisher Gannett Co. is making an aggressive push to buy the owner of the Los Angeles Times, a move that would bolster Gannett’s position as the nation’s largest newspaper company and continue the consolidation in the industry.

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Municipal Bonds

Published: April 13, 2016 – 8:09 a.m.

Puerto Rico, Atlantic City and Chicago school district bondholders have reason to fear a fight in court if the ailing governments collapse financially: recent cases show that when municipalities go broke, investors lose when pitted against municipal retirees.

To read article in The Press-Enterprise, click here.

The New York Times: In California, Marijuana Is Smelling More Like Big Business

marijuana-leaf

By Ian Lovett
April 11, 2016

ADELANTO, Calif. — After decades of thriving in legally hazy backyards and basements, California’s most notorious crop, marijuana, is emerging from the underground into a decidedly capitalist era.

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The Sacramento Bee: CalPERS rethinks ban on tobacco stocks

calpers

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
April 4, 2016 – 9:08 AM

  • Decision to sell stocks in 2001 has cost $3 billion, consultant says
  • Pension fund undertakes broader look at divestment policies
  • Anti-smoking group criticizes potential move

It’s been a hallmark of CalPERS policy for 15 years: no tobacco stocks.

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CalWatchdog: CalPERS has faith in imperiled energy status quo

calpers

Chris Reed
March 28, 2016

Is the California Public Employees’ Retirement System about to make another big mistake with a mistimed investment strategy, this time in the industrial solar sector?

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Los Angeles Times: CalPERS settles with Moody’s for $130 million in ratings case

calpers

James Rufus Koren
March 9, 2016

Moody’s Corp. will pay $130 million to the California Public Employees’ Retirement System to settle allegations that the ratings agency acted negligently by giving top scores to ultimately toxic investments that cost the pension fund hundreds of millions of dollars, CalPERS said Wednesday.

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Yahoo!

Yahoo is facing mounting pressure from shareholders who are threatening to overthrow the company’s board.

By Wendy Lee
Updated: March 3, 2016 – 8:19pm

Yahoo Chief Financial Officer Ken Goldman on Thursday reassured investors that the struggling company is serious about exploring all of its options, including a sale.

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Martin Shkreli

32-year-old suspected of plundering Retrophin to pay debts. (Martin Shkreli – Photographer: Francesco Nazardo)

Bloomberg Business

By Christie Smythe and Keri Geiger | December 17, 2015

Martin Shkreli, the boyish drug company entrepreneur, who rocketed to infamy by jacking up the price of a life-saving pill from $13.50 to $750, was arrested by federal agents at his Manhattan home early Thursday morning on securities fraud related to a firm he founded.

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Los Angeles Times: CalPERS shelves controversial private equity policy

calpers

Melody Petersen
December 14, 2015

The state’s biggest public pension fund has repeatedly missed a key performance goal for its controversial private equity investments.

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Bloomberg Business: Calpers Reports It Paid $3.4 Billion to Private-Equity Firms

Calpers

.

Bloomberg Business

Alison Vekshin
November 24, 2015 — 8:17 AM PST
Updated on November 24, 2015 — 9:15 AM PST

Private-equity firms reaped $3.4 billion in profit sharing for investing on behalf of the California Public Employees’ Retirement System since 1990, the sort of gains that have led to debate over why Wall Street pays lower taxes than most American workers.

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ObamaCare

Health insurer UnitedHealth cut its earnings forecast, citing hits it expects to take from public insurance exchanges.

Chad Terhune
November 19, 2015

Industry giant UnitedHealth has warned it may quit selling Obamacare coverage across the country, raising questions about an expansion in California.

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CalPERS

Melody Petersen
Novembe 17, 2015

Experts have warned for years that the state’s largest public pension plan has overestimated how much its investments will earn, leaving taxpayers to pay billions of dollars more than expected.

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Los Angeles Times: Experts defend CalPERS’ private equity investments

calpers

Though CalPERS has acknowledged private equity’s problems, including high fees and murky disclosure, its record of generating higher returns over time than it does in public stocks has made it an indispensable part of the portfolio, officials said.

Dean Starkman Dean Starkman
November 16, 2015

The nation’s largest public pension fund would have endured lower returns and higher volatility over the years had it not invested in private equity, even with its high fees and added risks, experts testified Monday.

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Los Angeles Times: Why supermarket magnate Ron Burkle couldn’t save Fresh & Easy

Fresh & Easy
Fresh & Easy’s fade-out comes as competition increases for local shoppers’ food dollars.

Shan Li and Samantha Masunaga
November 6, 2015

When Fresh & Easy was taken over by investor Ronald W. Burkle’s Yucaipa Cos. in 2013, it seemed as if the money-losing grocery chain would finally get a chance to turn things around.

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InlandPolitics: San Bernardino County pension fund records quarterly loss

SBCO

Thursday, November 5, 2015 – 09:00 a.m.

If San Bernardino County leaders want a reason to push back at union demands for salary and benefit increases they now have it.

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Fitch-Rating

High boarding costs and “possible” reversal of recent passenger increases cited by service.

Published: Nov. 2, 2015 – Updated: 10:52 p.m.

Fitch Ratings retained its A-minus listing for Ontario International Airport’s $59.6 million of fixed-rate revenue bonds, along with a “negative” outlook.

To read article by Richard K. De Atley in The Press-Enterprise, click here.

Calpensions: CalPERS shifts focus to avoiding another big loss

Calpers

By Ed Mendel
Monday, October 26, 2015

Still underfunded after a $100 billion loss during the recession, CalPERS plans to slowly shift over decades to more conservative and lower-yielding investments, raising employer rates but reducing the risk of another financial bloodbath.

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The Sacramento Bee: CalPERS aims to lower investment risks

calpers

The pension fund is looking to reduce investment risk.

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
October 12, 2015

  • Unusual plan would reduce risk following strong years
  • Returns could fall, taxpayer contributions could rise
  • All pension funds grappling with volatile climate

CalPERS is about to roll out an unusual new investment policy that could reduce risks but also lower its portfolio’s profitability.

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Pacific Premier Bank

The deal is expected to close in early 2016; the proposed transaction is valued at $118.9 million.

Published: Oct. 5, 2015 – 2:21 p.m.

Pacific Premier Bank has signed an agreement to acquire the holding company of Riverside’s Security Bank of California, and its branches in Riverside, Orange and San Bernardino counties.

To read article by Debra Gruszecki in The Press-Enterprise, click here.

American Apparel

American Apparel net losses have totaled nearly $384 million over the last 5 1/2 years. (Spencer Platt / Getty Images)

Shan Li
October 4, 2015

American Apparel, the trendy but troubled Los Angeles clothier, is preparing to file for Chapter 11 bankruptcy protection Monday — yet another blow to a company that has been struggling since ousting its chief executive last year.

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Los Angeles Times: Fed declines to raise interest rate amid global market turmoil

federal reserve

By Jim Puzzanghera and Don Lee
September 17, 2015

Cautious Federal Reserve policymakers on Thursday held a key interest rate at near zero, opting to wait longer to remove the unprecedented easy-money stimulus to determine whether recent global financial market volatility has slowed the U.S. economy.

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The Press-Enterprise: LOMA LINDA: Credit rating drops for medical center bonds

Fitch-Rating

Concerned about the expense of a $1.2 billion expansion, Fitch Ratings has downgraded the rating on $683 million revenue bonds issued on behalf of Loma Linda University Medical Center

Published: Sept. 10, 2015 – 3:33 p.m.

Concerned about the expense of a $1.2 billion expansion, Fitch Ratings has downgraded the rating on $683 million revenue bonds issued on behalf of Loma Linda University Medical Center.

To read article by Fielding Buck in The Press-Enterprise, click here.

InlandPolitics: Settlements reached in Redlands investment theft

U.S.-District-Court

Saturday, September 5, 2015 – 11:30 a.m.

Settlements have been reached with the U.S. Securities and Exchange Commission over the mismanagement and plundering of accounts held at a now-defunct Redlands-based investment advisory firm.

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Los Angeles Times: Pension fund CalSTRS weighs shift to safety

Calstrs

An investment strategy such as CalSTRS is considering raises the question of whether such a move would hamper the fund’s ability to meet its investment target of 7.5%.

By Dean Starkman and Melody Petersen
September 2, 2015

The California State Teachers’ Retirement System, the nation’s second-largest public pension system, is considering a new strategy that would shift up to 12% of its $191-billion portfolio into safer investments, such as long-term Treasury bonds.

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Stock Market Plunge

By Chris Megerian and Phil Willon
August 24, 2015

Gyrations in the stock market have taken California’s fragile finances for a ride before — when the dot-com bubble burst, when the Wall Street crash sank the national economy less than a decade ago.

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Lou Desmond

Monday, August 24, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

On the show today, Estimable Economist Jay Prag joins the show to discuss the rollercoaster ride that the stock market has been. At one point today it was down over 1,000 points. What does he predict in the coming months?

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InlandPolitics: A stock Market pin prick and it’s doomsday

WALL STREET BONUS

Saturday, August 22, 2015 – 09:45 a.m.

The various U.S. stock market indexes have essentially declined 10% from their record highs earlier this year.

Now all of a sudden the world is coming to an end.

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InlandPolitics: Stocks plunge on Friday in overdue ‘official’ correction

Wall Street

Friday, August 21, 2015 – 01:00 P.M.

Global stock markets plunged on Friday, with the Dow Jones Industrial Average plunging 530 points. The S&P 500 fell 65 points, while the Nasdaq fell 171 points.

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calpers

calstrs

By Dean Starkman
August 13, 2015

California’s two major public pension funds, the biggest in the nation, lost a total of more than $5 billion on energy-related investments for their fiscal years, ended June 30, according to a new report.

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Lou Desmond

Monday, July 27, 2015 – 04:30 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Tonight on the show, Jay Prag, estimable economist, joins the show. The Jay and Lou talk about the mayor of Murrieta’s sexual harassment accusations. Also, the mayor and city manager in San Bernardino can’t seem to get along.

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Citizens Business Bank

Citizens Business Bank’s Ontario-based parent company reports $26.8 million in net 2Q 2015 income, the 153rd consecutive quarter of profitability.

Published: July 23, 2015 – 2:36 p.m.

CVB Financial Corp., and its subsidiary Citizens Business Bank, reported $26.8 million in net income for the April-through-June quarter of 2015.

To read article by Debra Gruszecki in The Press-Enterprise, click here.

Calpers

Mary Childs and Alison Vekshin
July 14, 2015 -3:51 PM PDT

  • The $300 billion fund says it earned 2.4 percent in the last fiscal year, below its 7.5 percent target rate.

The chief investment officer of the biggest U.S. pension fund is most worried about low interest rates as the California Public Employees’ Retirement System struggles to earn enough money to pay beneficiaries.

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The Sacramento Bee: Opinion: Pensions fight gets new ammo

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 13, 2015

  • Ballot measure seeks to curb pension spending
  • Both sides gearing up for a big fight next year
  • Paltry earnings by CalPERS provide fuel

It’s likely that California voters will be treated – or subjected – next year to a vitriolic campaign over public employee pensions.

Read the rest of this entry »

calpers

By Dean Starkman
Monday, July 13, 2015

The California Public Employees’ Retirement System said it missed its return target by a wide margin, hurt by a sluggish global economy and an under-performing private equity portfolio.

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InlandPolitics: Greece, EU strike third bailout deal

Greece Bailout

Monday, July 13, 2015 – 08:40 a.m.

Greece and it’s European counterparts struck a deal for a third bailout of the beleaguered nation early Monday morning in Brussels.

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The San Diego Union Tribune: Edison sued over secret Poland talks

Michael Peevey

The Hotel Bristol Warsaw, where state regulators met with a utility executive.
Shareholder says company erred in not disclosing

By Morgan Lee | 6:13 p.m. July 9, 2015

A federal lawsuit filed this week accuses two top Edison International executives of harming shareholders by failing to disclose secret meetings with California regulators regarding a $4.7 billion settlement of costs for the failure of the San Onofre nuclear plant.

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Lou Desmond

Wednesday, July 8, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is coming to you from the Toyota of San Bernardino Recording Studios!

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Greece

Demonstrators hold flags and banners in front of Parliament in Athens in February. (Simela Pantzartzi/EPA)

By Ylan Q. Mui
July 5, 2015 at 2:55 PM

The financial crisis in Greece has upended the lives — and livelihoods — of residents of the Mediterranean nation. The shutdown of the banking system has resulted in long lines at ATMs to withdraw a daily maximum of just 60 euros, about $67. Citizens have stockpiled food and fuel, leading to empty shelves at grocery stores and crowded gas stations. Business leaders have warned that shortages of crucial medicines could be next.

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InlandPolitics: Greece says “NO” to European Union terms

Greece Flag

Sunday, July 5, 02:45 p.m.

Greece’s European Austerity Referendum went down in flames Sunday night.

The measure was overwhelmingly rejected by Greek voters.

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Standard and Poor's

By Chris Megerian
July 2, 2015

The Wall Street ratings agency Standard & Poor’s gave a vote of confidence to California’s finances on Thursday, upgrading its credit rating to its highest level in 14 years.

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InlandPoliics: Greece: What a headline for a newspaper!

Greece

Thursday July 2, 2015 – 10:30 a.m.

The headline in The Guardian, a British newspaper, is fitting.

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The Sacramento Bee: CalPERS to sell up to $3 billion in real estate

calpers

Business & Real Estate

By Dale Kasler
dkasler@sacbee.com
June 30, 2015

  • Pension fund continues to reshape portfolio
  • Goal is fewer speculative investments

CalPERS said Tuesday it plans to sell up to $3 billion worth of real estate as it continues to overhaul its investment portfolio.

Read the rest of this entry »

calpers

By Dean Starkman
June 25, 2015

  • CalPERS investment chief said fund returned only 3% over 10 months
  • The performance, which trails the broader stock market, has implications for city and state finances

The nation’s biggest public pension fund is falling far short of its annual investment goals.

Read the rest of this entry »

InlandPolitics: Greece default borders on comical

(Source: Bloomberg)

Monday, June 22, 2015 – 08:30 a.m.

Will the economically-tiny nation of Greece default?

Is it already too late?

If it does. Will the event ripple through the financial markets?

Read the rest of this entry »

Los Angeles Times: Gap closing 175 namesake stores in U.S.

GAP

San Francisco-based Gap is closing 175 of its namesake stores. (Gene J. Puskar / AP)

By Associated Press
June 15, 2016

Gap plans to close 175 of its namesake stores and 250 jobs at its headquarters as the company tries to strengthen the struggling brand.

Read the rest of this entry »

Wall Street

June 8, 2015 –  01:31 PM EDT
By Bernard Condon
AP Business Writer

NEW YORK (AP) — Those record profits that companies are reporting may not be all they’re cracked up to be.

Read the rest of this entry »

calpers

The nation’s largest pension fund is planning to slash the number of Wall Street firms its uses to manage its investments.

By Dean Starkman
June 8, 2015

The California Public Employees’ Retirement System plans to cut in half the number of Wall Street firms it pays to manage its $303 billion fund, an effort to cut down on high fees that drag down returns.

Read the rest of this entry »

Calstrs

Business & Real Estate

Teachers’ pension fund was pressured to dump holdings

By Dale Kasler
dkasler@sacbee.com
June 8, 2015

Ending a lengthy effort that had frustrated school teachers, CalSTRS has sold its investment in the firearms manufacturer linked to the 2012 massacre at a Connecticut elementary school.

Read the rest of this entry »

** FILE ** Susannah Fox, the main author of a study on internet spyware by the Pew Internet and American Life Project, is seen at the Pew Research Center in Washington in this July 6, 2005 file photo. In a recent survey, the Pew Internet and American Life Project found that adult Americans are broadly divided into three groups: 31 percent are elite technology users, 20 percent are moderate users and the remainder have little or no usage of the Internet or cell phones. (AP Photo/Lauren Victoria Burke, file)

Sunday, May 24, 2015 – 05:30 p.m.

The Pew Research Center has issued a not-so-pleasant report on the state of print media in the country.

Read the rest of this entry »

The Sun: San Bernardino plans huge reductions in bankruptcy plan

Bankruptcy Court

By Ryan Hagen, The Sun
Posted: 05/14/15, 4:49 PM PDT |

SAN BERNARDINO >> The proposed bankruptcy exit plan released to the public for the first time Thursday would pay 1 percent of the $50 million owed to pension obligation bondholders, slash retirees’ healthcare coverage, and contract out for services, including fire and waste disposal, among other changes.

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Digital First Media

By Bay Area News Group
Posted: 05/14/15 – 9:26 PM PDT |

Digital First Media, the company that operates the Los Angeles News Group and its digital and newspaper properties, has decided not to seek a sale of the entire company, saying it “is not in the best interest of shareholders at this time.’’

Read the rest of this entry »

InlandPolitics: With Fed stimulus gone, things look a little uncertain

Pricking Balloon

Saturday, April 4, 2015 – 10:30 a.m.

Remember last October, when the Federal Reserve ended the tapering down of its $85 billion a month bond-buying program?

Read the rest of this entry »

METRO

By Daniel Borenstein
Posted: 04/02/2015 – 08:27:25 AM PDT
Updated: 04/02/2015 – 09:38:48 AM PDT

Unless it alters its current funding structure, CalPERS will be even more vulnerable to market losses in the next economic downturn than it was during its devastating plunge in the Great Recession.

Read the rest of this entry »

InlandPolitics: Price tag for newspapers dwindles

The Sun

inland valley daily bulletin

Redlands Daily Facts

Friday, March 27, 2015 – 09:00 a.m.

The price tag for Digital First Media (DFM) is shrinking.

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San Bernardino Seal

Reuters

LOS ANGELES | By Tim Reid
Thu Mar 26, 2015 – 6:28pm EDT

(Reuters) – The bankrupt California city of San Bernardino revealed on Thursday details of its deal with the state’s public pension system Calpers, in which the retirement fund will be paid in full under the city’s bankruptcy exit plan.

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Reuters

Monday, Mar 23, 2015 – 5:57pm EDT

(Reuters) – The holdout creditor in Stockton, California’s bankruptcy case filed its opening brief in an appeal of the city’s reorganization plan on Monday, claiming “no bondholder has ever received so little in the history of municipal bankruptcy.”

Read the rest of this entry »

Lou Desmond

Friday, March 20, 2015

Tonight on the Lou Desmond & Company Show, Lou is joined by Ed Hoffman, president of Wholesale Capital Corporation, to discuss local news and financial news. First, missing San Bernardino Woman Sahray Barber is found safe near Los Angeles. She says she didn’t realize people were looking for her until she watched TV news last night.

Read the rest of this entry »

Reuters: Exclusive: San Bernardino has defaulted on $10 million in bond payments

File photo of cracked tarmac is seen in the parking lot of a largely abandoned shopping mall in San Bernardino

Cracked tarmac is seen in the parking lot of a largely abandoned shopping mall in San Bernardino, California in this January 23, 2015 file photo. (Reuters/Lucy Nicholson/Files)

By Tim Reid
Tue Mar 17, 2015 – 10:52pm EDT

Los Angeles —

(Reuters) – The southern California city of San Bernardino has defaulted on nearly $10 million in payments on its privately placed pension bond debt since it declared bankruptcy in 2012, according to documents seen by Reuters.

Read the rest of this entry »

Lou Desmond

Monday, February 23, 2015 – 05:00 p.m.

Today on The Lou Desmond & Company Show, economist Jay Prag and Financial Advisor Kraig Strom join Lou to discuss an array of topics.

Read the rest of this entry »

LATmes: Investors snap up luxury hotels amid rising occupancy and room rates

Montage Resort
Luxury hotels such as the Montage Laguna Beach that endured the downturn are now thriving, making them appealing targets for investors. The resort sold last month. (Allen J. Schaben / Los Angeles Times)

By Roger Vincent
February 15, 2015

Pampered guests at the five-star Montage Laguna Beach resort can swim in a lap pool overlooking the Pacific, dine on caviar and sleep on goose-down pillows to a lullaby of crashing waves.

Read the rest of this entry »

Calpensions: Pension shareholder clout reshapes corporations

Corporate Governance

By Ed Mendel
February 2, 2015

A bitter breakup of a well-known Ohio company, Timken, approved by shareholders in a battle led by CalSTRS and one of its investment funds, Relational, has become a case study as activist shareholders try to squeeze more profit from companies.

Read the rest of this entry »

AP: Record iPhone Sales Drive Blowout Quarter for Apple

Apple Inc.

SAN FRANCISCO — Jan 27, 2015, 5:56 PM ET
By BRANDON BAILEY AP Technology Writer
Associated Press

Apple had another blowout quarter thanks to its new plus-sized iPhones, which helped the company smash sales records for the holiday season.

Read the rest of this entry »

InlandPolitics: Private Equity looking at parent of Inland newspapers

The Sun

inland valley daily bulletin

Redlands Daily Facts

Related Posts: InlandPolitics: Newspaper decline continues

Tuesday, January 27, 2015 – 09:30 a.m.

Bloomberg is reporting that two private equity firms are taking a close look at a possible buyout of the parent company of The Sun, Inland Valley Daily Bulletin and Redlands Daily Facts newspapers.

Read the rest of this entry »

SacBee: Judge rejects bid to keep Stockton in bankruptcy

US Bankruptcy Court

By Dale Kasler
dkasler@sacbee.com
01/20/2015 8:58 PM

A bankruptcy judge Tuesday dismissed an effort to keep Stockton mired in bankruptcy while a creditor challenges a decision that lets the city pay its CalPERS pension bills in full.

Read the rest of this entry »

VVDailyPress: Depositions nearing in Victorville’s SEC case

Victorville

Long list of former, current officials expected to be called

SHEA JOHNSON
STAFF WRITER
Posted Jan. 7, 2015 @ 8:34 pm
Updated at 8:37 PM

VICTORVILLE — Depositions are expected to get underway next week, nearly two years after the Securities and Exchange Commission accused the city of Victorville, its airport authority and others of dramatically inflating the combined valuation of four airport hangars in a 2008 municipal bond offering.

Read the rest of this entry »

InlandPolitics: Crude Oil continues plunge

Oil Collapse

Monday, January 5, 2015 – 10:30 a.m.

Crude Oil prices plunged again on Monday morning due to an ever increasing oversupply.

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LATimes: Overseas problems won’t derail growing U.S. economy, analysts say

NYSE
Traders work on the floor of the New York Stock Exchange on the first trading day of 2015. (Andrew Burton / Getty Images)

By Dean Starkman
January 2, 2015

NEW YORK — Call it the Great Divide: The new year figures to be one of robust economic growth in the U.S., with slowdowns, stagnation and setbacks everywhere else in the world.

Read the rest of this entry »

VVDailyPress: Prime Healthcare plans IPO by 2017 amid fast-moving expansion, CEO says

Prime Healthcare Services

SHEA JOHNSON
STAFF WRITER
Posted Dec. 8, 2014 @ 5:17 pm
Updated Dec 8, 2014 at 5:21 PM

VICTORVILLE — Prime Healthcare CEO Dr. Prem Reddy said Monday that the fifth-largest hospital system in the U.S. plans to go public in the next two to three years.

Read the rest of this entry »

Reuters: Billions wiped off energy shares as investors rush for exit

NYSE Floor Trader

Reuters/Reuters – A trader watches the screen at his terminal on the floor of the New York Stock Exchange in New York October 15, 2014. (REUTERS/Lucas Jackson)

By Lionel Laurent | Reuters – Fri, 28 Nov, 2014

LONDON (Reuters) – A fresh slide in the price of crude wiped tens of billions of dollars off oil companies’ market value on Friday and signalled an end to the sector’s safe-haven status, as fears mounted over future profits and dividend payouts.

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Bloomberg: California Pension Fund Bonus Payouts Climb 14% From Prior Year

calpers

By Michael B. Marois
Nov 24, 2014 – 10:49 AM PT

The $300 billion California Public Employees’ Retirement System, the largest U.S. public pension, paid $9 million in bonuses last fiscal year, up 14 percent from a year earlier as earnings exceeded benchmarks.

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InlandPolitics: Victorville SEC case has murky undercurrent

Victorville
Note: This is the first in a series of several related posts

Sunday, November 16, 2104 – 12:00 p.m.

Unsettling information pretaining to onging civil litigation involving the 2008 sale of bonds related to the construction of four large aircraft maintenance hangars at Victoville’s Southern California Logistics Airport (SCLA) has started to go public.

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DailyBulletin: Stifel emerges as the largest public finance group in California

Stifel Financial

By Kevin Smith, San Gabriel Valley Tribune
Posted: 11/06/14, 5:13 PM PST |

Edward De La Rosa knows a thing or two about selling bonds.

As founder and president of Los Angeles-based De La Rosa & Co., he has helped entities like the University of California, the city of Los Angeles and Los Angeles International Airport obtain funds to build needed projects.

Read the rest of this entry »

SacBee: Judge approves Stockton’s plan to repay creditors, leaving pensions intact

Gavel

By Dale Kasler
dkasler@sacbee.com
10/30/2014 9:20 PM

Government pensions in California remain untouchable, at least for now, after a bankruptcy judge approved Stockton’s plan to repay its creditors Thursday without reducing the city’s pension obligations.

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UTSanDiego: Hundreds fail to report bond-firm meals

Free Meal

Statewide investigation started in Poway, nabbed 260 officials
By Ricky Young and Jeff McDonald
Oct. 6, 2014 – 02:52 p.m.

California regulators have cracked down on hundreds of public officials up and down the state who accepted meals, baseball tickets, brownies and other gifts from a bond-finance company and failed to disclose them.

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Calpensions: CalPERS earnings no longer last among big funds

By Ed Mendel
September 22, 2014

Three years ago CalPERS investment earnings hit bottom in a Wilshire consultants report that ranks the performance of big pension funds — dead last among its peers over the previous five years.

Read the rest of this entry »

SacBee: CalPERS gets $88 million in Citi settlement

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Sep. 18, 2014 – 4:44 pm

CalPERS said Thursday it has collected $88 million from a previously-announced settlement with Citigroup Inc. over toxic mortgage securities.

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LATimes: CalPERS picks Ted Eliopoulos to be investment chief

calpers

Ted Eliopoulos is named chief investment officer of the California Public Employees’ Retirement System, the nation’s largest public pension fund.

By Marc Lifsher
September 16, 2014

California’s huge pension fund has turned to a trusted insider to take over the daunting job of directing almost $300 billion in investments, crucial to the retirement of more than 1 million current and former state and local government workers.

Read the rest of this entry »

LATimes: CalPERS decides hedge funds are a sell

Photo: CalPERS board

The CalPERS board meets at headquarters in Sacramento. (Robert Durell / For The Times)

By Marc Lifsher
September 15, 2104

SACRAMENTO — The country’s biggest public pension system is getting out of hedge funds.

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SacBee: CalPERS cleared to sue ratings agencies

California Supreme Court

By Dale Kasler
dkasler@sacbee.com
Published: Monday, Sep. 15, 2014 – 3:56 pm

The state Supreme Court has cleared CalPERS to sue Wall Street’s leading ratings agencies over a series of disastrous investments that cost the pension fund more than $1 billion.

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LATimes: Longtime trustee of Pimco mutual funds appears to have lost his job

PIMCO

By E. Scott Reckard
September 2, 2014

William J. Popejoy apparently has lost his longtime position as a trustee of the nearly $2-trillion Pimco mutual funds in Newport Beach, but the usually outspoken financial executive wasn’t talking about what happened.

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SacBee: CalPERS seeks safer path but can’t eliminate investment risk

CalPERS

By Dale Kasler
dkasler@sacbee.com
Published: Saturday, Aug. 23, 2014 – 12:00 am

CalPERS, still feeling the effects of the 2008 financial markets crash, is working to dial back the risk in its investment portfolio.

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SacBee: California pensions, consumers get $800 million from Bank of America case

Bank of America

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Aug. 21, 2014 – 8:29 am
Last Modified: Friday, Aug. 22, 2014 – 7:55 am

California homeowners and pension funds will receive $800 million from Bank of America Corp., the state’s share of a record-breaking settlement over toxic mortgages issued and packaged as investment securities during the housing bubble.

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Dan Morain

By Dan Morain
dmorain@sacbee.com
Published: Sunday, Aug. 17, 2014 – 12:00 am

In a Capitol where contentious lobbying battles are de rigueur, the $14 billion hedge fund that goes by the name Pershing Square Capital Management has picked a most unusual fight.

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