Posts Tagged ‘Marin County’

Texas vs. California Update for June 28, 2016

Tuesday, June 28th, 2016

Welcome to another Texas vs. California update!

  • California’s skyrocketing housing costs, taxes prompt exodus of residents.” “During the 12 months ending June 30, the number of people leaving California for another state exceeded by 61,100 the number who moved here from elsewhere in the U.S.” Plus this: “The majority of the people we are seeing are moving to states that don’t have state income taxes.” And this “My husband’s salary would be in the six figures, but six figures is not enough to cover the rent, day care (and) food prices.” (Hat tip: Pension Tsunami.)
  • The middle class can no longer afford to live in the Bay Area.
  • “Orange County’s public city employees earned $144,817 on average last year.” (Hat tip: Pension Tsunami.)
  • In a completely unrelated story, lavish pension hikes have resulted in exploding levels of Orange County debt. (Hat tip: Pension Tsunami.)
  • “City employees working full-time in Long Beach earned an average of $128,731 in total compensation last year.” (Hat tip: Pension Tsunami.)
  • “A survey of 45 cities in Riverside and San Bernardino counties shows the average full-time city worker received $127,730 in pay and benefits last year.” (Hat tip: Pension Tsunami.)
  • On paper, Nevada County, California, is technically insolvent (which is the best kind of insolvent.) (Hat tip: Pension Tsunami.)
  • As good as Texas is doing compared to California’s profligacy, the people at the Texas Public Policy Foundation think the budget is still growing way too fast.
  • “Jacobs Engineering Group, one of the world’s largest engineering companies, is preparing to move employees from its Pasadena [CA] headquarters to Dallas, becoming the latest major corporation to relocate significant operations from California to Texas.”
  • “A California-based orthopedic goods manufacturer and distributor has decided to move its Ohio-based distribution hub to Dallas/Fort Worth International Airport, which will give the company a place to significantly expand operations and possibly relocate its West Coast headquarters. The company, Santa Paula, California-based Hely & Weber, has signed a lease totaling nearly 40,000 square feet of space at 755 Regent Blvd. in Dallas/Fort Worth International Airport.”
  • Still more companies leaving California. Plus why the “Bernie Sanders effect” will result in a veto-proof majority for Democrats in the California legislature. (Hat tip: Pension Tsunami.)
  • Bankrupt San Bernardino, union fight over settlement payments.” Clip and save this headline, as you’ll be able to use it again and again over the coming years…
  • Marin County pension reformer launches GoFundMe campaign to sue the county over pension increases. Though his $198,000 request strikes me as excessively optimistic…
  • Texas scores three of the top five cities (Houston, Austin, San Antonio) for U-Haul destinations. (Hat tip: Ted Cruz on Facebook.)
  • California Democrats and Social Justice Warriors conspire to drive Christian colleges out of the state. (Hat tip: Ace of Spades HQ.)
  • Once again, California leads the nation…in car thefts.
  • Which lead to this: “More than 71 percent of all recovered stolen cars in 2005 in Texas, New Mexico, Arizona, Nevada, and California were stolen by illegal aliens or by ‘transport coyotes,’ those who bring in illegals across the Mexican border.”
  • “Paul Tanaka, once one of the most powerful law enforcement officials in Los Angeles County, was sentenced Monday to five years in federal prison for interfering with an FBI investigation into jail abuses by sheriff’s deputies.” (Hat tip: Dwight.)
  • Oakland police chief resigns because at least 14 Oakland police officers (and 10 other law enforcement officers had sex with the same underage girl. (Hat tip: Ed Driscoll at Instapundit.)
  • And the guy Oakland found to replace him? He lasted…five days.
  • Bay Area law enforcement agencies have lost 944 guns since 2010. Maybe that’s the “gun control” Democrats should be focusing on… (Hat tip: Stephen Green at Instapundit.)
  • Californians face rolling blackouts this summer…some of which could last as much as 14 days.
  • Shuttered California hospital files for Chapter 7 bankruptcy.
  • You could count this Silicon Valley robot pizza technology startup as a win for California, but the subtext here as that many human California pizza workers will never work a day under that new $15 minimum wage…
  • Texas vs. California Update for January 19, 2016

    Tuesday, January 19th, 2016

    Been a while since I did a Texas vs. California update, due to Reasons, so here’s one:

  • Texas ranks as the third freest state in the union, behind New Hampshire and South Dakota. California ranks second to last, just ahead of Massachusetts.
  • Texas added 16,300 Jobs in November.
  • How’s this for heavy-handed symbolism? California’s legislature plans to close one of its doors to the public, but continue to allow access to lobbyists. Because you’ve always got to see your real boss when he comes around…
  • California’s unfunded liabilities for CalPERS and CalSTARS spiked by $24 billion is fiscal 2014/2015. (Hat tip: Pension Tsunami.)
  • The much ballyhooed pension reform plan won’t make it on the ballot this year. Supporters are now aiming for 2018. Who knows how broke California will be by then… (Hat tip: Pension Tsunami.)
  • That’s probably because the game is rigged against pension reform. (Hat tip: Pension Tsunami.)
  • Jerry Brown unveils a budget in California. The budget increases are relatively modest, by California standards, but $2 billion into the rainy day fund isn’t even remotely going to cover California’s huge unfunded pension gap, and most of the structural bloat in the budget remains.
  • More on the same theme:

    While all the numbers are constantly in flux, in 2014-15, the California Public Employees’ Retirement System saw its status fall from 76.3 percent funded to 73.3 percent, likely due to the fact that investment returns fell far below expectations. The long-neglected California State Teachers’ Retirement System, as of June 30, 2014, was 69 percent funded. Combined, the systems report unfunded pension promises of more than $160 billion.

    The current budget shows steep and consistent increases in state funding to the two systems. Whereas CalPERS is set to receive $4.3 billion in state contributions in the 2015-16 fiscal year, which ends June 30, it could receive $4.8 billion the following year. CalSTRS is to receive $1.9 billion this year and about $2.47 billion next year.

    In comparison, CalPERS and CalSTRS received $3.1 billion and $1.26 billion, respectively, in 2011-2012.

    While it is perfectly reasonable for costs to rise over time, the rate that costs have risen for the two giant pension funds is mainly a consequence of California trying to play catch-up for years of inadequate forecasting and planning, aggravated by investment losses. But because the pension systems are run for public employees – CalPERS’ board is full of former public employee union leaders – the necessary changes and adjustments have been made far too late to avoid calamity.

    (Hat tip: Pension Tsunami.)

  • On the actual mechanics of pension reform, and the impossibility implementing them at the state level in California. (Hat tip: Pension Tsunami.)
  • Part 2, examining the possibility of reform at the local level. (Ditto.)
  • “California government, however, serves one purpose. It always reminds America what not to do.” Also:

    California has given us three new truths about government.

    One, the higher that taxes rise, the worse state services become.

    Two, the worse a natural disaster hits, the more the state contributes to its havoc.

    And three, the more existential the problem, the more the state ignores it.

    California somehow has managed to have the fourth-highest gas taxes in the nation, yet its roads are rated 44th among the 50 states. Nearly 70 percent of California roads are considered to be in poor or mediocre condition by the state senate. In response, the state legislature naturally wants to raise gas taxes, with one proposal calling for an increase of 12 cents per gallon, which would give California the highest gas taxes in the nation.

  • Federal judge rejects San Bernardino’s bankruptcy proposal, saying it doesn’t contain enough information.
  • Sacramento continues to ignore the needs of rural residents. (Hat tip: Ed Driscoll at Instapundit.)
  • Half of California’s driver’s licenses are issued to illegal aliens.
  • After years at the top of the relocation list, Texas was only the 9th biggest relocation destination in 2015.
  • On the other hand, Texas was still the top destination according to Allied Van Lines.
  • But businesses continue to flee California:

    In California, costs to run a business are higher than in other states and nations largely due to the states tax and regulatory policies and the business climate shows little chance of improving. It is understandable that from 2008 through 2015, at least 1,687 California disinvestment events occurred, a count that reflects only those that became public knowledge. Experts in site selection generally agree that at least five events fail to become public knowledge for every one that does. Thus it is reasonable to conclude that a minimum of 10,000 California disinvestment events have occurred during that period….For about 40 years California has been viewed as a state in which it is difficult to do business. Gov. Jerry Brown’s Administration’s less than candid approach regarding the business climate has misled the Legislature, the news media and the public about the flight of capital, facilities and jobs to other states and nations.

    The study also shows that Texas had the most new facilities opening up in the nation in 2014, with 689. California, despite being the most populous state, tied for 12th with 170.

  • 85% of Marin County’s special district workers collected over $100,000.” Bonus: Their pensions are underfunded too. (Hat tip: Pension Tsunami.)
  • Troubled California Wine Retailer Files for Bankruptcy. Premier Cru owes customers almost $70 million for wines it never delivered.”
  • This county-by-county breakdown of recession recovery is full of (very slow loading) data, and I haven’t come close to digesting it yet.
  • Texas vs. California Update for April 24, 2015

    Friday, April 24th, 2015

    Time for another Texas vs. California roundup:

  • The Manhattan Institute has a new report out discussing how California’s pension spending is starting to crowd out essential services. (Hat tip: Pension Tsunami.)
  • Austin is the number one city in the country for technology job creation.
  • Texas unemployment is down to 4.2%.
  • That’s the lowest unemployment rate since March of 2007.
  • Marin County Grand Jury:

    Unfunded pension liabilities are a concern for county and city governments throughout California. Reviewing this problem in Marin County, the Grand Jury examined four public employers that participate in the Marin County Employees’ Retirement Association (MCERA): County of Marin, City of San Rafael, Novato Fire Protection District, and the Southern Marin Fire Protection District, hereafter collectively referred to as “Employer(s)”

    The Grand Jury interviewed representatives of the County of Marin, sponsors of MCERA administered retirement plans, representatives of MCERA, and members of the various Employer governing boards and staff. It also consulted with actuaries, various citizen groups, and the Grand Jury’s independent court-appointed lawyers.

    In so doing, the Grand Jury found that those Employers granted no less than thirty-eight pension enhancements from 2001- 2006, each of which appears to have violated disclosure requirements and fiscal responsibility requirements of the California Government Code.

    (Hat tip: Pension Tsunami.)

  • The Marin Country lawyer: Nothing to see in this Grand Jury Report! Critics: Hey, aren’t you pulling down a cool $434,000 by “triple dipping” the existing system? (Ditto.)
  • Why does the University of California system have to hike tuition 28%? Simple: Pensions.

    As with other areas of state and local budgets, a big factor is pension costs, which for UC have grown from $44 million in 2009-10 to $957 million in 2014-15. And the number of employees making more than $200,000 almost doubled from 2007-13, from 3,018 to 5,933.

    While total UC employees rose 11 percent from October 2007 to October 2014, the group labeled “Senior Management Group and Management and Senior Personnel” jumped 32 percent.

    (Hat tip: Pension Tsunami.)

  • Los Angeles Teacher’s Union gets a 10% pay hike over two years.
  • Like everything else associated with ObamaCare, covered California is screwed up.
  • BART wants a tax increase. This is my shocked face. (Hat tip: Pension Tsunami.)
  • And by my count, there are 157 BART employees who make more than $200,000 a year in salary and benefits…
  • California state senate committee votes to raise California’s minimum wage to $13 by 2017. If I were Gov. Greg Abbott, I’d be ready to start sending Texas relocation information packets to large California employers the minute this gets signed into law.
  • California-based Frederick’s of Hollywood files for bankruptcy. The retail lingerie business just isn’t what it used to be…
  • Torrence, California newspaper wins Pulitzer Prize for reporting on local school district corruption.
  • Priorities: Carson, California approves $1.7 billion for an NFL stadium even though they don’t have an NFL team to put in it.
  • Dilbert’s Scott Adams weighs in on California’s drought: