Sacramento Statehouse Reporter for Bloomberg News. Dad. Fly Fisherman. Photographer. Air Force Veteran. Red Sox Fan.

Calpers Seeks 12% Jump in California’s Payment to Pension Fund

bloomberg.com — The California Public Employees' Retirement System said the state's annual pension contribution needs to jump by 12 percent because of payroll growth, salary increases and the longer lives of retirees. The payment to the pension fund would increase by $487 million to $4.7 billion during the fiscal year beginning in July, according to recommendations approved by the fund's finance and administration committee Tuesday.

Calpers’ Performance Fees to Wall Street Rise 6% as Assets Climb

bloomberg.com — The California Public Employees' Retirement System's performance fees to Wall Street firms rose 6 percent last year to $420 million as the value of its portfolio gained 18 percent. Managers in the real asset portfolio, which includes real estate, infrastructure and forest land, earned $261 million in profit-sharing fees in the year ended in June, according to a report Monday by Chief Operating Investment Officer Wylie Tollette.

Wealthy Tesla buyers under fire for taking rebates

theglobeandmail.com — California's incentives to purchase electric vehicles are under attack, as data shows most of the money goes to consumers who earn twice the national average yet collect cash rebates on Tesla Motors Inc.'s luxury models.

California's 'green' rebates come under attack

autonews.com — SACRAMENTO -- California's incentives to purchase electric vehicles are under attack, as data shows most of the money goes to consumers who earn twice the national average yet collect cash rebates on Tesla Motors Inc.'s luxury models.

Brown Orders Mandatory Water Curbs as California Drought Worsens

bloomberg.com — (Bloomberg) -- California Governor Jerry Brown ordered the state's first-ever mandatory water restrictions as an unprecedented drought gripping the region enters a fourth year. Brown issued an executive order seeking a mandatory 25 percent reduction in water use in cities and towns.

California Bullet Train Funding at Risk

bloomberg.com — (Bloomberg) -- The agency tasked with building a bullet train system in California is seeking to boost land purchases as it struggles to keep up with the schedule to acquire property while it ramps up construction. The California High-Speed Rail Authority spent $32 million by Jan.

California’s Brown Plans to Unveil Emergency Drought Legislation

bloomberg.com — (Bloomberg) -- California Governor Jerry Brown plans to detail new legislation to help manage a worsening drought gripping the most populous U.S. state for a fourth year. Brown has scheduled a news conference with legislative leaders for 10:30 a.m. Thursday in Sacramento, according to a statement from his office.

Calpers Chief Sees Lower Returns as Bull Market in Stocks Ebbs

bloomberg.com — (Bloomberg) -- The California Public Employees' Retirement System should expect an extended period of lower investment returns as the Federal Reserve pulls back its economic stimulus and raises interest rates, the fund's chief investment officer said. A six-year bull market that allowed the fund to earn an average annual 12 percent in the three years ended Dec.

Calpers Projects 8% Decline in Fees to Wall Street Next Year

bloomberg.com — (Bloomberg) -- The California Public Employees' Retirement System expects to pay 8 percent less next year for external money managers as it liquidates its hedge-fund program. The largest U.S.

California’s Brown Urges Caution as Record Revenue Swells Budget

bloomberg.com — (Bloomberg) -- California Governor Jerry Brown is faced with a dilemma other leaders would love to have as he releases his budget today: what to do with record tax revenue expected to leave the most populous U.S. state with a growing surplus.
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Apr 20, 2015

RT @business: Bloomberg wins its first Pulitzer Prize for @zachmider's reporting on corporate tax avoidance. Read the stories here bloom.bg/1P6rVa7

Apr 19, 2015

RT @shawnbadgley: Great journalism from @projo's @AmandaMilkovits on the trail of a legally bought "community gun" used in 5 shootings: goo.gl/6t8Rp9

Apr 17, 2015

Market value of @CalPERS hit $307 billion, the most ever, and combined with @CalSTRS , the two pension funds manage a half trillion dollars.

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