Recent California newspaper editorials

Feb. 16A federal judge’s ruling in the Stockton bankruptcy case should serve as a wakeup call that public worker pensions in California could be altered in times of fiscal crisis.Retirement boards, government officials and public employee unions should heed the warning by rationally funding retirement programs and setting salary and benefit levels. Otherwise, the outcome could be worse than it was for Stockton.Judge Christopher Klein last week upheld Stockton’s plan to exit bankruptcy after nearly three years. Klein made clear that, although pensions were spared, they could have been on the chopping block. bankruptcy proceedings.Klein also turned down claims of Franklin Templeton Investors, which will recover only about 12 percent of the $36 million it loaned the city. Franklin had said that the California Public Employees’ Retirement System should have also taken a haircut. Klein said CalPERS, while acting like a bully, is merely a servicing agent for the pension plan the city offers its employees and retirees. Those current and former workers had given up retiree health benefits
Michael Kors handbags outlet worth over a half billion dollars. In other words, they had shared the pain.But they could have lost pension benefits too. Klein criticized
Michael kors handbags outlet California’s "vested rights" doctrine, which locks in an employee’s pension formula for life on the first day of work. The "unusually inflexible" doctrine, he noted, was "judge made," a nod to legal scholars who think the state Supreme Court has overstepped.Klein could have stopped there. But he apparently couldn’t contain his contempt for CalPERS. He questioned whether the pension system had a legitimate role in the Stockton bankruptcy proceedings."CalPERS has bullied its way about in this case with an iron fist insisting that it and the municipal pensions it services are inviolable. The bully may
cheap Michael kors handbags outlet have an iron first, but
cheap Michael Kors handbags outlet it also turns out to have a glass jaw."CalPERS is merely one of several
cheap michael kors options municipal governments can choose to administer their pensions. Unfortunately, once local governments join CalPERS, the pricetag to escape is "confiscatory," Klein wrote. The termination charge, which legislators wrote into state law, makes it virtually impossible to withdraw and go elsewhere.Chico Enterprise Record: Food hub good for business and consumersSitting down at a restaurant, we order from the menu, marvel when a plate of food appears, and then dig in. Do we really care where it came
Cheap Michael Kors handbags from or what it took to get it on the table?The growing local and regional food movement stems partly from people wanting
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Michael Kors handbags about what they put in their bodies. There’s also a recognition we’re in one of the richest agricultural regions in the world, and supporting local growers supports the local economy.Articles Connexes:

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