CalPERS Archives - California Globe

CalPERS Investment Chief with ‘Long and Cozy Relationship with China’ Resigns

August 6, 2020 8:17 amAugust 7, 2020 3:45 pm

California Public Employees’ Retirement System (CalPERS) said late Wednesday Yu Ben Meng resigned as its chief investment officer, Reuters reported. California Globe reported in February when House Armed Services Committee member Rep. Jim Banks (R-IND) sent California Governor Gavin Newsom...

Sen. John M. W. Moorlach. (Kevin Sanders for California Globe)

Why Sen. John Moorlach Opposes California’s State Budget

June 16, 2020 11:02 am

Senator John M.W. Moorlach (R-Costa Mesa) is the only CPA in the State Legislature. As such, his dire warnings about California’s budget deficit need to be considered. California Globe watched all of the budget debate Monday, and as usual, Moorlach schooled the Senate...

Lenders – and Pensions – Are Salivating at Californians’ Pain

June 11, 2020 3:14 pmJune 12, 2020 6:22 am

Californians have weathered several storms the last few months. Due to COVID-19, close to 5 million Californians have been put out of work. With so many people impacted by unprecedented job loss, more and more consumers will reach out to...

Who Runs the City of Santa Ana, Anyway?

June 1, 2020 7:03 amJune 1, 2020 7:18 am

With rare exceptions, most cities in California are run by public sector unions. There is the appearance of democracy, with public employees accountable to elected officials, who in turn are accountable to voters, but appearances can be deceiving. Because political...

President Trump Orders Federal Retirement Funds Invested in Chinese Equities to be Pulled

May 12, 2020 2:20 amMay 12, 2020 9:08 am

President Trump is moving to cut investment ties between U.S. federal retirement funds and Chinese equities, in a move that is tied to the handling of COVID 19, Fox News reported Monday evening. “National security adviser Robert O’Brien and National Economic Council Chair...

Coronavirus Side Effect: CalPERS Drops to 60% Funded

May 5, 2020 7:08 amMay 5, 2020 7:38 am

Gov. Gavin Newsom’s coronavirus emergency management policy to shut down the economy rather than triage the vulnerable has resulted in a 10 percent investment fund loss for the California Employees Retirement System – CalPERS – from 70 to 60 percent...

Rates of Pay and Pension Debt Escalating in California’s Distressed Cities

April 29, 2020 2:29 amApril 29, 2020 10:02 am

Nobody needs reminding that California’s cities, like every other going concern in America, are heading for tough economic times. As recently as two months ago, robust collections of sales taxes, utility taxes, transient occupancy taxes, property taxes and other sources...