CalPERS Archives - California Globe

California’s CalPERS Public Employee Pension Fund Invested in Blacklisted Chinese Companies

February 14, 2020 1:18 pmFebruary 14, 2020 4:43 pm

‘I have a deep attachment to the motherland, and my roots are in China.’ ~CalPERS Chief Investment Officer Yu Ben Meng Rep. Jim Banks (R-IND) sent California Governor Gavin Newsom a letter this week (below) calling for the investigation of...

Busted CHP Boss Aims to Spike State Pension

February 12, 2020 9:29 pmFebruary 12, 2020 10:03 pm

Back in 2012, Spencer “Kyle” Scarber was the California Highway Patrol assistant chief in the Fresno area. When his son Spencer Scarber was on trial for rape, his father helped him escape to Mexico. The CHP boss served no prison...

Public Employee Strike Looms in Santa Clara County

January 3, 2020 6:35 amJanuary 3, 2020 12:33 pm

With 2020 upon us, it appears likely that two unions representing Santa Clara County employees will be going on strike. Unless agreements can be reached, 3,000 members of the Registered Nurses Professional Association will strike, along with over 11,000 members of...

Gov. Newsom’s Climate Change Executive Order Looting Road Funds Short on Details, Long on ‘Social Investing’

December 5, 2019 2:15 amDecember 6, 2019 6:42 am

‘There’s a growing understanding that climate change is a material risk to investors and companies just like cyber-terrorism or inflation.’ Recently California Gov. Gavin Newsom signed an Executive Order authorizing the looting of voter-approved gas tax funding for road repairs...

Pension Reform Waits for California Supreme Court

November 27, 2019 11:44 amNovember 27, 2019 11:44 am

“When local government has reached the point where it’s spending nearly as much on pensions as it spends on base salaries, you still can’t do much.” With markets fitfully advancing after a nearly two year pause, the need for pension reform...

CalPERS is Heavily Invested in Chinese Companies

October 10, 2019 9:40 amOctober 14, 2019 12:13 pm

On October 1st, 2019, the People’s Republic of China celebrated its 70th anniversary. The centerpiece of their festivities was a massive military parade down the streets of Beijing, and the centerpiece of that parade was China’s newest intercontinental ballistic missile, the...

California Supreme Court Cuts Pension ‘Air Time,’ but Preserves ‘California Rule’

March 4, 2019 12:57 pmMarch 5, 2019 3:34 pm

The California Supreme Court announced its long-awaited decision on pension spiking and the purchase of “air time” credits Monday. In an unanimous ruling, the court found that state government may legally rescind the purchase of “air time” credits, a practice where...