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Manteca Bulletin

Cantu inquires about possible Singh ‘conflict’ in downtown

Mayor Ben Cantu was concerned simply because Gary Singh has interest in a liquor store that he might have a financial conflict in voting on a zoning measure to ban such retailers in Manteca’s downtown. It is why he stopped discussion on the issue at Tuesday’s City Council meeting to...
MANTECA, CA
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Press Democrat

Gilbert: Public officials shouldn’t be allowed to day trade

The U.S. Federal Reserve will review its rules governing personal investments after two policymakers disclosed transactions that raised both eyebrows and issues of potential impropriety. I’m with Sen. Elizabeth Warren in agreeing that the ownership and trading of individual stocks by public officials in such sensitive roles shouldn’t be allowed. In fact, I’m struggling to generate a single argument in favor of letting such potential conflicts of interest arise.
U.S. POLITICS
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newsguild.org

NewsGuild urges public pension funds to divest from Cerberus, citing the firm’s role in the destruction of local news

This article first appeared on dfmworkers.org on Sept. 23, 2021. Saying their investments are “enabling the destruction of local news,” The NewsGuild-CWA is calling on two of the nation’s largest public pension plans to consider divesting from the private equity firm Cerberus Capital Management. In letters sent Monday to the...
ECONOMY
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TRENDING TOPICS
marketscreener.com

PEWIN : Announces 2021 Annual LP/GP Awards Recipients

Private Equity Women Investor Network Announces 2021 Annual Awards Recipients at 13th Annual All Members Meeting. Private Equity Women Investor Network (PEWIN), the pre-eminent organization for senior-level women investment professionals in private equity, has announced the winners of its 2021 LP/GP awards. The awards were presented at PEWIN’s 13th Annual All Members Meeting with over 200 members attending.
BUSINESS
Washington Times

Public pensions must divest from China

China’s military grows stronger every day. And American taxpayer dollars are helping to fund its expansion. In California, top officials have allowed the investment of more than $3 billion to fund China’s Belt and Road Initiative, where they debt trap financially strapped countries. The Initiative expands the Red Dragon’s footprint worldwide with loans to build infrastructure, including deep-water ports and airports in other countries. When the loans can’t be repaid, China could use these port assets to project military power in a modern-day version of the Russians in Cuba.
FOREIGN POLICY
naked capitalism

CalPERS Devises “Heads I Win, Tails You Lose” Gamble for Long-Term Care Policyholders in Settlement

Yves here. We’ve written from time to time about the CalPERS long-term care insurance trainwreck. This post by policyholder and financial analyst Lawrence Grossman brings readers up to date. It describes how a proposed settlement of a class-action lawsuit over allegedly verboten increases puts policyholders in the ugly position of having to gamble when CalPERS has a vastly better grasp of the relevant odds than they do.
ECONOMY
ceres.org

Climate Week NYC: Shareholder Engagement Shaping Corporate Sustainability in the Real Economy

2021 has been a landmark year for shareholder engagement on climate, sustainability and human rights. Record high majority votes, increasing numbers of 30%+ non-majority votes and new commitments from companies show that collaborative investor stewardship initiatives are driving impressive, sometimes surprising results. Join Ceres and CalPERS for a discussion on leading and innovative practices for corporate engagement.
ECONOMY
Washington Post

Public Officials Shouldn’t Be Allowed to Day Trade

The U.S. Federal Reserve will review its rules governing personal investments after two policy makers disclosed transactions that raised both eyebrows and issues of potential impropriety. I’m with Senator Elizabeth Warren in agreeing that the ownership and trading of individual stocks by public officials in such sensitive roles shouldn’t be allowed. In fact, I’m struggling to generate a single argument in favor of letting such potential conflicts of interest arise.
U.S. POLITICS
Sacramento Bee

California union sends misleading texts on CalPERS election. Here are the facts

Many SEIU Local 1000 members recently received misleading texts from their union related to the CalPERS Board of Administration election. The texts, presented as survey questions, included an inaccuracy related to a board vote and presented information on other votes cast by board members Margaret Brown and David Miller without context. Brown and Miller are both up for re-election, with mail ballots and votes by phone or online due Sept. 27.
CALIFORNIA STATE
thecentersquare.com

Audit finds California regularly sends pension checks to dead people

(The Center Square) – An audit of the California Public Employees' Retirement System, America’s largest public pension fund, found regular payments to pensioners well after they died, so much so it’s challenging to get the money back. Around 1,800 CalPERS pensioners die every month, according to a June memorandum from...
CALIFORNIA STATE
Victorville Daily Press

‘Confidential recruitment’: Barstow paid corporate consultant, agreed to high-dollar hire in secret search for top official

Barstow’s top decision-makers paid a private consulting firm in a closed-door effort to decide who they should hire for the city’s top unelected seat. Now, an elected City Council often hampered by political squabbles is moving in lockstep on an upcoming vote to confirm a candidate who — after at least five months of confidential meetings — has been all but preordained without public knowledge.
BARSTOW, CA
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