SAN FRANCISCO, Oct 3 (Reuters) – California Governor Jerry
Brown has a problem. Call it the Munger problem.
They’re scions of a billionaire financier, one a liberal
lawyer in Los Angeles and the other a conservative scientist in
the Bay Area. Neither claims to enjoy politics.
SAN FRANCISCO, Sept 14 (Reuters) – Las Vegas Sands
deceived a Nevada court in an attempt to stall a lawsuit by the
former head of its Macau operations, a state judge ruled on
Friday, fining the casino operator and abridging its right to
object in a fight over key evidence.
The ruling gives former Sands China Chief
Executive Steve Jacobs new room to pursue his wrongful
termination case, which has become a public fight over the
leadership and business methods used by Sands Chief Executive
SAN FRANCISCO, Aug 1 (Reuters) – Bond insurer Assured
Guaranty, facing massive losses in Stockton,
California’s bankruptcy, on Wednesday said the largest U.S.
public pension fund, Calpers, was getting preferential treatment
That may set the stage for a fight over whether cities in
dire circumstances legally have the ability to change
obligations under pension plan benefits agreed to in much better
times. Calpers, the California Public Employees’ Retirement
System, so far has said that the cities don’t have that ability.
SAN FRANCISCO (Reuters) – California may be struggling to make ends meet, but Governor Jerry Brown is still thinking big.
The 74-year-old governor is championing major public works projects, including a statewide bullet train network and giant tunnels for delivering fresh water, even as he tries to convince voters to approve a tax increase in the fall.
SAN BERNARDINO, California (Reuters) – San Bernardino, the third California city planning to file for bankruptcy since June, voted to stop debt payments, freeze vacant jobs and quit paying into a retiree health fund under a three-month emergency proposal submitted to the city council on Tuesday.
The city is preparing a longer-term plan to make it through its expected bankruptcy period, when it will financially regroup under court protection from a financial hole created by a combination of the bad economy and poor management.
SAN FRANCISCO (Reuters) – San Bernardino, California, which is planning to file for bankruptcy, would suspend payments on pension obligation bonds and other debt under a three-month proposal to be submitted to the city council on Tuesday.
A package of materials on the city council’s website included the plan for July-September of this year.