Robin's Feed
Jul 23, 2015

Some public hospitals win, others lose with Obamacare

SAN FRANCISCO (Reuters) – A year and a half after the Affordable Care Act brought widespread reforms to the U.S. healthcare system, Chicago’s Cook County Health & Hospitals System has made its first profit in 180 years.

Seven hundred miles south, the fortunes of Atlanta’s primary public hospital, Grady Health System, haven’t improved, and it remains as dependent as ever on philanthropy and county funding to stay afloat.

Jul 15, 2015

Calpers chief looks to cut volatility as fund enters negative cash-flow era

WALNUT CREEK, California (Reuters) – The California Public Employees’ Retirement System, projected to have negative cash flow for at least the next 15 years, is looking to recast investment priorities to slash the complexity and volatility embedded in its $301-billion portfolio, officials said on Tuesday.

Fund officials, recognizing that the wave of retiring baby boomers means it will pay out more in benefits than it takes in from contributions and investment income – a gap that could reach $10 billion by 2030 – are expecting to pivot more toward assets that deliver reliable income than in the past.

Jul 2, 2015

S&P lifts rating of California debt, signaling fiscal health

SAN FRANCISCO, July 2 (Reuters) – Standard & Poor’s Rating
Agency upgraded California’s general obligation debt on Thursday
to “AA-” from “A+”, marking another sign of the state’s
financial recovery.

The one-notch upgrade gives California GO debt the highest
rating from S&P since 2000. That was when the dot-com bust hit
the state’s economy hard, prompting a series of credit
downgrades and years of chronic budget problems.

Jun 20, 2015

Clinton: race a ‘deep fault line’ in America

WASHINGTON/SAN FRANCISCO (Reuters) – Democratic presidential front-runner Hillary Clinton said on Saturday the deadly mass shooting at a historic black church in South Carolina is a violent reminder of continued institutionalized racism in the United States.

“It’s tempting to dismiss a tragedy like this as an isolated incident, to believe that in today’s America bigotry is largely behind us, that institutionalized racism no longer exists,” Clinton said. “But despite our best efforts and our highest hopes, America’s long struggle with race is far from finished.”

Jun 20, 2015

Race a ‘deep fault line’ in America – Clinton

WASHINGTON/SAN FRANCISCO (Reuters) – Democratic presidential front-runner Hillary Clinton said on Saturday the deadly mass shooting at a historic black church in South Carolina is a violent reminder of continued institutionalized racism in the United States.

“It’s tempting to dismiss a tragedy like this as an isolated incident, to believe that in today’s America bigotry is largely behind us, that institutionalized racism no longer exists,” Clinton said. “But despite our best efforts and our highest hopes, America’s long struggle with race is far from finished.”

Jun 20, 2015

Many U.S. mayors skeptical Charleston will inspire gun law changes

SAN FRANCISCO (Reuters) – Many U.S. mayors said this week’s deadly church shooting in South Carolina should lead to more restrictions on gun ownership, but few believe the violence that killed nine people will propel legislators to enact stricter gun laws.

“Among ourselves, it has been coming up,” said Bill Harrison, mayor of Fremont, California, during the annual meeting of the U.S. Conference of Mayors this weekend in San Francisco. “But how many of these events does it take to get action?”

Jun 16, 2015

Arizona city’s exit from Coyotes arena deal is positive -Moody’s

June 15 (Reuters) – A decision by the city of Glendale,
Arizona, to cancel its contract with the National Hockey
League’s Arizona Coyotes is a credit positive for the
sports-laden Phoenix suburb.

Glendale’s city council voted last week to exit a deal that
obligated the payment of $15 million a year to the Coyotes to
manage the city-owned arena. Moody’s Investors Service on Monday
called the move a credit positive, because it reduced Glendale’s
professional sports-related costs.

Jun 5, 2015

California teachers pension fund to drop assault weapons maker

By Robin Respaut

(Reuters) – The largest teachers pension fund in the world plans to end its indirect investment in Remington Outdoor [FREDM.UL] assault weapon manufacturer after two years of urging for divestment.

The California State Teachers’ Retirement System (Calstrs) announced on Friday that it agreed to a proposal by its private equity partner, Cerberus Capital Management [CBS.UL].

Jun 4, 2015

New California measure proposed on public worker pension reform

June 4 (Reuters) – A new statewide ballot measure campaign
aimed at reforming public worker pensions was filed in
California on Thursday, led by former Democratic San Jose mayor
and longtime pension reform advocate Chuck Reed.

The ballot initiative is the latest in a long fight to
reduce public pension obligations in California, where debts are
particularly burdensome and have contributed to municipal
bankruptcies in some cities.

May 29, 2015

Stockton, Calif., argues against appeal of its bankruptcy plan

SAN FRANCISCO, May 28 (Reuters) – Stockton, California,
urged an appellate court on Thursday to back the city’s exit
from municipal bankruptcy after a holdout creditor appealed its
plan.

Stockton said in a brief on Thursday that the creditor, two
funds managed by Franklin Templeton Investments, was trying to
relitigate its case using the same flawed legal arguments that a
U.S. federal bankruptcy court judge had already rejected.