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

California Says Uber, Lyft Vehicles Must Have Commercial Plates

bloomberg.com — Private drivers for ride-sharing companies such as Uber Technologies Inc. and Lyft Inc. must possess a commercial license plate to operate in California under an 80-year-old law or face getting a citation, the state said. The California Department of Motor Vehicles released a notice Jan.

California Pension Intends to Reduce Private-Equity Managers

bloomberg.com — The California Public Employees' Retirement System, the biggest U.S. public pension, is trying to reduce the number of private-equity managers it hires and teaming up with other institutional investors to negotiate better terms. Chief Investment Officer Ted Eliopoulos told the Financial Times in a story published today that the $292 billion pension could cut the number of managers it hires by two-thirds.

California Zooms Past Russia, Italy and Soon Brazil in Economic Might

bloomberg.com — California is overtaking Brazil as the world's seventh-largest economy, bolstered by rising employment, home values and personal and corporate income, a year after the most-populous state surpassed Russia and Italy. The Golden State, with an equivalent gross domestic product of $2.20 trillion in 2013, expanded last year by almost every measure, according to data compiled by Bloomberg.

California Pension System Sees Funding Level Climb to 77 Percent

bloomberg.com — The California Public Employees' Retirement System, the largest U.S. state pension, saw its funding level rise 7 percentage points last year as investment returns beat assumptions. The $293 billion system, known as Calpers, said its estimated funding level rose to 77 percent of assets needed to cover promised benefits as the fiscal year ended June 30.

California Projects No Revenue Note Sale for Next Fiscal Year

bloomberg.com — California won't need to issue revenue anticipation notes next fiscal year to raise cash, according to the state's Legislative Analyst's Office. It would be the second year since the mid-1980s in which the state didn't sell the debt, which it uses to bridge periods when tax revenue falls short of expenditures, according to the office's report released today.

California’s Brown Plans Record Spending in $113 Billion Budget

bloomberg.com — California Governor Jerry Brown unveiled a $113 billion general fund spending plan for the most populous U.S. state, a 4.9 percent increase over the current budget and the largest ever as surging tax revenue filled a surplus.

California’s Brown Urges Caution as Record Revenue Swells Budget

bloomberg.com — 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.

California’s Brown Pushes Bullet Train as Republicans Oppose It

bloomberg.com — More than six years after California voters approved a $10 billion bond measure to help finance a bullet train system, full-scale construction is finally set to begin even as Republicans in Congress vow to block further funding. Officials with the California High-Speed Rail Authority will break ground today in Fresno, a farming hub about 150 miles (240 kilometers) south of Sacramento.

California’s Brown Seeks $59 Billion in Infrastructure Fixes

bloomberg.com — California Governor Jerry Brown proposed spending $59 billion to fix crumbling roads and raising the state's renewable energy mandate to 50 percent, while projecting that California's new rainy-day fund would reach $2.8 billion this year.

U.S. Police Deaths Escalate, Led by 56% Rise in Gun Fatalities

bloomberg.com — U.S. law-enforcement deaths rose to the highest in three years, led by a 56 percent increase in the number killed by gunfire, leaving police on edge across the nation after the ambush of two New York City officers and shots fired at a squad car in Los Angeles.
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Jan 27, 2015

Apple's $18 billion quarter is worth: The FDA's annual budget + The Dallas Cowboys + The New York Yankees + Lots more bloom.bg/1uyZdTH

Jan 27, 2015

New York's public pension fund paid $708 million to people living in Florida. bloomberg.com/news/2015-01-2…

Jan 26, 2015

RT @justin_blum_: Doctors' pay will be linked to quality in historic U.S. overhaul of medical billing  bloom.bg/1tgUtGY via @business

Jan 26, 2015

RT @WSJ: Breaking: New Jersey Gov. Chris Christie joins crowded GOP fight for donors, forms PAC on.wsj.com/1BcC2B3

Jan 25, 2015

RT @FKlopott: The arrest of N.Y. Speaker Shelly Silver is threatening the balance of power in Albany bloom.bg/1Jt7uzu by @FKlopott @hgoldman77

Jan 23, 2015

RT @PaulRogersSJMN: Private equaity firm Cerberus in talks to acquire parent company of Mercury News, Denver Post bloom.bg/1upHVIE via @business

Jan 23, 2015

CHP issued 230k tickets for registration violations last year, including a 1935 law CA DMV says means #Uber & #lyft need commerical plates

Jan 23, 2015

NJ Gov. & presidental hopefull Chris Christie will headline @CAGOP spring confab

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