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share save 120 16 The Morning Flap: December 13, 2012

California Blue Shield The Morning Flap: December 13, 2012

These are my links for December 12th through December 13th:

  • The Republican brand problem – One thing comes through loud and clear in the new NBC/Wall Street Journal national poll: Republicans have a major brand problem.Consider the following findings in the NBC/WSJ poll:* Asked an open-ended question as to what single word or short phrase people would use to describe the Republican Party, 65 percent of the responses were negative, while just 17 percent were positive. (For Democrats, 35 percent were positive, while 37 percent were negative.) Among the most oft-mentioned phrases used to describe Republicans: “bad/weak/negative” (8 percent), “uncompromising/need to work together” (6 percent) and “broken/disorganized/lost” (6 percent). So, that happened.* The poll tested the positive and negative ratings for 11 politicians or political institutions. The lowest rated — in terms of the differential between positive and negative ratings — was the Republican Party, with a 30 percent positive score and a 45 percent negative score. Of the five worst positive-to-negative ratios, Republicans claimed four of them. (The lone exception: Susan Rice with a 20 positive/24 percent net-negative score.)

    * When asked who they trusted more in “handling the fiscal cliff,” 38 percent named President Obama while just 19 percent named House Speaker John Boehner and Republicans in Congress. (Fourteen percent said they trusted both equally, and another 28 percent said they trusted neither side.)

    What those numbers make clear is that the Republican brand is badly damaged. It is regarded by too many people as an uncompromising relic of the past — a party that lacks new ideas and is, therefore, forced to largely serve as a blockade to the other side. (That’s the biggest reason, by the way, why Republicans should be interested in compromising on the fiscal cliff. They gap between how Obama is regarded and how they are seen is enough to make going over the cliff a genuine political loser for them.)

  • California prison phychiatrist under investigation for $800,000 pay – After raking in half a million dollars for being “on call,” California’s top paid public employee of 2011 — a prison psychiatrist from Newark — has been suspended with pay for allegedly falsifying time records, officials said Tuesday.Dr. Mohammad Safi, 54, was paid more than $803,000 last year as a supervising senior psychiatrist at a Department of State Hospitals facility within Salinas Valley State Prison in Monterey County, records show.That amount included more than $503,000 for on-call pay — in Safi’s case being available to respond quickly to emergencies.His suspension was first reported Wednesday by Bloomberg News, which published an extensive analysis of state government pay that ranked California tops in the nation. It showed Safi was paid more than twice as much as any state psychiatrist in the 12 states Bloomberg examined.
  • California lawmaker Roger Hernandez proposes benefits for undocumented immigrants – A California lawmaker wants to expand government benefits for hundreds of thousands of undocumented immigrants who qualify for a new federal work-permit program.Assemblyman Roger Hernandez (D-West Covina) introduced legislation this week aimed at illegal immigrants who are part of an Obama administration protocol that allows undocumented immigrants who came to the United States before they were 16, and who are now 30 or younger and meet certain other criteria, to obtain work permits.The bill, AB 35, would enable those immigrants to obtain state identification cards and receive unemployment benefits and state-administered medical services. This year, Gov. Jerry Brown signed into law a measure that will allow that group of young immigrants to obtain driver’s licenses.
  • Fiscal Cliff Creates Problems That Don’t Faze Obama – Is Barack Obama bluffing when he threatens to go over the fiscal cliff if Republicans refuse to agree to higher tax rates on high earners?Some analysts think so. Keith Hennessey, a former top staffer for the Bush White House and Senate Republicans and a veteran of budget negotiations, argues that Obama’s whole second term would be blighted if he allows the fiscal cliff tax increases and sequestration budget cuts to take place next month.
  • Blue Shield of California seeks rate hikes up to 20% – Health insurer Blue Shield of California wants to raise rates as much as 20% for some individual policyholders, prompting calls for the nonprofit to use some of its record-high reserve of $3.9 billion to hold down premiums.In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers, effective in March, with a maximum increase of 20%.Some consumer advocates and healthcare economists say Blue Shield shouldn’t be raising rates that high when it has stockpiled so much cash. The company’s surplus is nearly three times as much as the Blue Cross and Blue Shield Assn. requires its member insurers to hold to cover future claims.”Blue Shield is sitting on a huge surplus that is beyond what is required or necessary,” said Laurie Sobel, a senior attorney for Consumers Union in San Francisco. “It should be used to hold down rate increases when it hits these extraordinary levels.”

    California officials can take into account an insurer’s amount of surplus, among many other factors, when determining whether they think a rate increase is reasonable. Both the California insurance commissioner and the state Department of Managed Health Care are reviewing the company’s proposed premiums, but neither agency has the authority to reject changes in rates

  • DeMint: Obama wants cliff dive – South Carolina GOP Sen. Jim DeMint accused President Barack Obama on Thursday of trying to take the country over the fiscal cliff.“The president campaigned on raising taxes and getting rid of the Bush-era tax cuts, and he’s gonna get his wish,” DeMint said on CBS’s “This Morning.”
    Continue Reading“I believe we’re going to be raising taxes, not just on the top earners. Everyone is going to pay more taxes next year in this country, and I think that’s what the president wants. … If you look at the facts, we don’t need more revenue, we just need to stop spending. The president is not going to stop spending. He’s proposed more spending. So it’s hard to work with someone who I think is intentionally trying to take us over this cliff.”
  • GOP tech gap needs millions – Republicans need to make a multimillion-dollar investment to close a digital gap with Democrats and President Obama, according to GOP tech experts.The party faces a growing urgency to catch up with Democrats; frustrated GOP operatives believe the party is lagging in an area widely agreed to have given Obama the edge in the last two presidential election cycles.“Everyone in the party is frustrated. I haven’t talked to one person who thinks that the Republicans were more successful online in 2012 [than in 2008 or 2010],” said Vincent Harris, a GOP strategist who ran digital campaigns for Rick Perry’s and Newt Gingrich’s presidential campaigns.“There is no doubt in my mind that this is the moment that this must be fixed. The good news, though, is that everyone seems to be open to solutions,” he said
  • The do’s and don’ts of quitting smoking – Anyone who has ever smoked and tried to quit knows how addictive nicotine can be. But what really works when it comes to quitting? Several former smokers had some hard-earned tips that might help you quit.Carla Berg, a Winship Cancer Institute addiction expert and professor at the Emory School of Public Health, had talked to hundreds of people trying to quit.”One thing I hear from people all the time is, ‘I’m just waiting to feel ready to quit,’ or, ‘I just need to want to quit and then I’ll quit.’ And what we know is that just rarely happens out of nowhere. So I always tell people if you’re waiting for the best time to quit smoking, that time is now,” said Berg.So what works? Through her Facebook Page, FOX 5’s Beth Galvin asked former smokers to share their secrets.
  • Election over, administration unleashes new rules – While the “fiscal cliff” of looming tax increases and spending cuts dominates political conversation in Washington, some Republicans and business groups see signs of a “regulatory cliff” that they say could be just as damaging to the economy.For months, federal agencies and the White House have sidetracked dozens of major regulations that cover everything from power plant pollution to workplace safety to a crackdown on Wall Street.The rules had been largely put on hold during the presidential campaign as the White House sought to quiet Republican charges that President Barack Obama was an overzealous regulator who is killing U.S. jobs.But since the election, the Obama administration has quietly reopened the regulations pipeline.
  • Flap’s California Blog @ Flap Twitter Digest for 2012-12-12 – Flap’s California Blog – Flap’s California Blog @ Flap Twitter Digest for 2012-12-12
  • Flap’s Blog @ Flap Twitter Daily Digest for 2012-12-12 – Flap’s Blog – FullosseousFlap’s Dental Blog – Flap’s Blog @ Flap Twitter Daily Digest for 2012-12-12 #tcot
  • My Daily Twitter Digest for 2012-12-12 – Locum Tenens (Temporary) Dentist – Gregory Cole, D.D.S. – My Daily Twitter Digest for 2012-12-12
  • Poll: Obama won 71% of Asian Vote – But Not Wedded to Either Party – Asian American voters came out in droves for President Barack Obama over GOP challenger Mitt Romney, but the country’s fastest growing ethnic group is not wedded to either party, according to a new poll out Wednesday.Obama won an estimated 2.3 million of their votes to Romney’s estimated 900,000 votes, or 71 percent to 28 percent, according to the survey by the Asian American Justice Center, Asian & Pacific Islander American Vote and the National Asian American Survey
  • Mark Levin explains how a big part of Obamacare could be gutted during Obama’s second term » The Right Scoop - – RT @JedediahBila: Mark Levin explains how a big part of Obamacare could be gutted during Obama’s second term:
  • 5 ways the GOP can do better with Latinos – A coalition of conservative groups is releasing a major study of Latino voters in four key states this morning, and Republicans would be wise to heed its lessons.Resurgent Republic and the Hispanic Leadership Network are presenting the findings of their study at 9 a.m. Eastern. The polls of Florida, Colorado, New Mexico and Nevada show Republicans remain in contention for as many as half of Latino voters in those four states in 2016, but fewer than one-quarter of Latinos in each state say they are likely to vote Republican four years from now.
  • Election Integrity Activist Calls for Prop 37 Recount – Another Bay Area citizen has called for a recount on a statewide ballot measure, this time on Prop 37, and she’s being helped by the man responsible for the Prop 29 recount last summer.Lori Grace, an election integrity activist based in Tiburon, Calif., filed a formal request with the Secretary of State’s office on Monday for a recount in the contest over Prop 37, a voter initiative that would require special labels on foods containing genetically modified organisms, or GMOs. (There won’t be any other ballot measure recounts from the general election, since Monday was the last day to file).Having two such recounts in one year is highly unusual, if not unprecedented. The earlier effort came after the June primary, when Bay Area surgeon John Maa requested a recount for Prop 29, the cigarette tax initiative that would have helped to fund cancer research.Now Maa is imparting some of his own hard-earned (and expensive — recounts in California must be bankrolled by the requester) knowledge to Grace. Both acknowledged that Maa has given her strategical advice on how to proceed.
  • California Governor Jerry Brown has early-stage prostate cancer – Gov. Jerry Brown is undergoing treatment for prostate cancer, his office announced this afternoon.The governor’s office described the condition as a “localized prostate cancer” and said Brown is continuing to work a full schedule while being treated with a short course of radiation.It released a statement from Eric Small, Brown’s oncologist at University of California San Francisco.”Fortunately, this is early stage localized prostate cancer, which is being treated with a short course of conventional radiotherapy,” Small said in the statement. “The prognosis is excellent, and there are not expected to be any significant side effects.”
  • As ‘fiscal cliff’ nears, Obama schedule loaded with photo-ops, holiday parties, golf – Since returning from a trip to southeast Asia on Nov. 21, President Obama has managed to play three rounds of golf but has met face-to-face only once with Speaker John A. Boehner, the man with whom he is trying to strike a deal on taxes and spending that could prevent another recession.With the deadline for going over the “fiscal cliff” less than three weeks away, the president’s schedule this week is exceptionally light. It does not include any time on the links with Mr. Boehner, Ohio Republican, who is also an avid golfer.On Monday, Mr. Obama’s only public event was a trip to Detroit, where he held a campaign-style rally with union auto workers that was ostensibly a push for middle-class tax cuts but mainly showcased Mr. Obama’s criticism of Michigan’s new “right-to-work” labor law.“It seems to me, that time would have been better spent here in Washington, D.C., working on the fiscal cliff, but he was in Michigan,” said Sen. Lamar Alexander, Tennessee Republican.

    On Tuesday, Mr. Obama had lunch with Vice President Joseph R. Biden and spoke to Mr. Boehner by phone late in the day. The president spent much of his evening with first lady Michelle Obama posing for photographs with members of the White House press corps and their guests at a holiday party. (Mr. Obama actually has performed this function twice in the past week; there was another media holiday party at the White House on Dec. 5).

  • California prison health care receiver issues layoff notices – California Correctional Health Care Services has issued layoff warnings to 2,200 of its employees with a goal of axing 829 positions early next year.The cuts will touch nearly 60 job classifications around the state, from doctors to custodians and impact 38 jobs in Sacramento County. The statewide cuts take effect Mar. 31, 2013.The state normally issues three lay off warning notices for every position it cuts, and workers in danger of losing their jobs can displace less-senior counterparts in state government, so it’s not clear how many staff will actually lose work. Officials don’t have an estimate of savings from the reductions.
  • Day By Day December 12, 2012 – Figures – Flap’s Blog – Day By Day December 12, 2012 – Figures #tcot
  • Rep. Moran: Son’s Attack on Girlfriend “An Accident” – Virginia Rep. Jim Moran’s office has another statement about his son’s arrest for assaulting his girlfriend in Columbia Heights earlier this month. And it turns out it was all an accident, according to Moran, despite his son’s guilty plea to assault.”The situation was an accident,” Moran spokeswoman Anne Hughes writes in an email, adding that both Moran and his girlfriend testified to that in court. “Patrick didn’t hit or shove her.”Hughes claims that only Patrick Moran and his girlfriend were around to see the alleged attack. “They were the only two people who witnessed the scene,” writes Hughes. “In that sense, their statements are the only ones that matter.”That would contradict the police report, which describes both a Metropolitan Police Department sergeant and an Alcoholic Beverage Regulation Administration investigator seeing Moran slam his girlfriend’s head into a trash can cage outside the Getaway, a 14th Street NW bar.
  • Democratic senator Menendez employed illegal immigrant who was registered sex offender – U.S. Sen. Robert Menendez employed as an unpaid intern in his Senate office an illegal immigrant who was a registered sex offender, now under arrest by immigration authorities, The Associated Press has learned. The Homeland Security Department instructed federal agents not to arrest him until after Election Day, a U.S. official involved in the case told the AP.Luis Abrahan Sanchez Zavaleta, an 18-year-old immigrant from Peru, was arrested by U.S. Immigration and Customs Enforcement agents in front of his home in New Jersey on Dec. 6, two federal officials said. Sanchez, who entered the country on a now-expired visitor visa from Peru, is facing deportation and remains in custody. The officials spoke on condition of anonymity because they were not authorized to discuss details of Sanchez’s immigration case.
  • Sandoval opts to expand Medicaid coverage for Nevada’s neediest – Sandoval opts to expand Medicaid coverage for Nevada’s neediest #tcot
  • Fiscal Cliff: Hundreds of Billions Apart – The bellowing on Capitol Hill about which side has offered more “specifics” to resolve the fiscal cliff showdown masks a larger problem for Washington: The two sides are still hundreds of billions of dollars apart on revenue and entitlement cuts.Not to mention, Republicans and Democrats are also light-years apart on policy details that back up those budget targets.That’s why there’s increasing skepticism in Washington that a deal actually can be reached before Jan. 1, and the country will go over the fiscal cliff.
  • Fiscal Cliff: 180 economists oppose tax hike – A letter signed by 180 economists opposed to tax increases as part of a fiscal cliff deal will be delivered to Congress on Wednesday, according to a national anti-tax group.The letter argues that hiking tax rates would have a “significant, negative impact on the economy” and is slated to be sent to Capitol Hill on Wednesday, said Pete Sepp, executive vice president of the National Taxpayers Union, the low-taxes advocacy group that coordinated the effort.
  • California Psychiatrists Paid $400,000 Shows Bidding War- Bloomberg – RT @BloombergNews: Why do California psychiatrists make more than $400,00? Examining a payroll system run amok |
  • War-making for Losers By Mark Steyn – The new US Army manual for troops heading east apparently blames the tendency of Afghanistan’s US-trained soldiers and policemen to shoot their western “allies” on “American cultural ignorance”. Fortunately, the manual offers a solution:The draft leaked to the newspaper offers a list of “taboo conversation topics” that soldiers should avoid, including “making derogatory comments about the Taliban”…I mean, it’s not like they’re the enemy or anything.…“advocating women’s rights,” “any criticism of pedophilia,” “directing any criticism towards Afghans,” “mentioning homosexuality and homosexual conduct” or “anything related to Islam.”
  • Inside the Boehner-Ryan Alliance – Robert Costa – National Review Online – Inside the Boehner-Ryan Alliance – The speaker and the former GOP veep contender are quiet partners #tcot
  • Democrats continue to find out what was in ObamaCare–and try to dismantle it | Mobile Washington Examiner – Democrats continue to find out what was in ObamaCare–and try to dismantle it | Mobile Washington Examiner #tcot
  • Inside the Boehner-Ryan Alliance – The speaker and the former GOP veep contender are quiet partners – Paul Ryan spent the summer and fall in the national spotlight, but this winter he’s a subdued presence. He’s rarely granting interviews, and his public appearances have been scattered, with the most high profile a speech at the Kemp Foundation dinner. His closest friends say that he wants to return to his work quietly, and that he’s uninterested in playing a prominent role in the fiscal-cliff debate, even though he’s the GOP’s reigning budget expert.
  • The Morning Flap: December 12, 2012 – Flap’s Blog – The Morning Flap: December 12, 2012 #tcot
  • Democrats continue to find out what was in ObamaCare–and try to dismantle it | Mobile Washington Examiner – Democrats continue to find out what was in ObamaCare–and try to dismantle it #tcot
share save 120 16 The Morning Flap: December 13, 2012
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share save 120 16 The Morning Flap: August 3, 2012

Unemployment rate graph The Morning Flap: August 3, 2012

These are my links for The Morning Flap – August 2nd through August 3rd:

  • July jobs report: America’s labor market depression continues- Only in a world of lowered, New Normal expectations was the July jobs report anything less than another disaster for U.S. workers. Nonfarm payrolls rose 163,000 last month as the unemployment rate rose to 8.3%. In addition, employment for May and June was revised by 6,000 jobs.– Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.– Job growth, as measured by nonfarm payrolls, has average about 75,000 jobs a month during the Obama recovery for a total of 2.7 million jobs. Context: During the first three years of the Reagan Recovery, job growth averaged 273,000 a month for a total of 9.8 million. If you adjust for the larger U.S. population today, the Reagan Recovery averaged 360,000 jobs a month for a three-year total of 13 million jobs.– This continues to be the longest stretch of 8% or higher unemployment since the Great Depression, 42 straight months.– If the labor force participation rate was the same as when Obama took office in January 2009, the unemployment rate would be 11.0%.

    – Even if you take into account that the LFP should be declining as America ages, the unemployment rate would be 10.6%.

    – If labor force participation rate hadn’t declined since just last month, unemployment rate would have risen to 8.4%.

    – The broader U-6 unemployment rate, which includes “all persons marginally attached to the labor force, plus total employed part time for economic reasons,” ticked up to 15.0%.

    – Two years ago, Treasury Secretary Tim Geithner wrote his now-infamous “Welcome to the Recovery” op-ed for the New York Times. During those two years, the economy has added an average of just 137,000 jobs a month.

    – Not only is the 8.3% unemployment rate way above the 5.6% unemployment rate that Team Obama predicted for July 2012 if Congress passed the $800 billion stimulus plan. It’s way above the 6.0% unemployment rate they predicted if no stimulus was passed.

  • 195,000 Fewer Americans Had Jobs in July; 150,000 Dropped Out of Labor Force- There were 195,000 fewer people employed in the United States in July than in June, according to the Bureau of Labor Statistics, as the national unemployment rate ticked up from 8.2 percent to 8.3 percent.Meanwhile, 150,000 people simply dropped out of the labor force during the month and did not seek to find a job.In June, according to BLS, there had been 142,415,000 people employed in the United States. In July, that dropped to 142,220,000–a decline of 195,000.Similarly, in June, there were 155,163,000 people in the civilian labor force in the United States. To be counted in the civilian labor force, person must be 16 years old or older, not be in the military, prison or a mental institution, and either have a job or have actively looked for a job in the past four weeks.In July, the number of people in the civilian labor force was 155,013,000–a decline of 150,000 from June.
  • Economy Creates 163,000 New Jobs but Rate Rises to 8.3%- The U.S. economy followed up a weak second quarter by creating more jobs than expected with 163,000 new positions added in July, but the unemployment rate rose to 8.3 percent.Markets reacted positively to the announcement, with the stock market surging at the open and safe-haven bond prices plunging. Economists had been expecting 100,000 new jobs.As the country struggles to gain growth traction, the unemployment rate held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics.”I’d call this a soft 163,” said Steve Blitz, chief economist at investment research firm ITG in New York. “If you want to take from this the notion that the economy is not heading to a recession or something more ominous, that’s fine. But if you want to take from this the idea that the economy is about to accelerate, I think that would be a big mistake.”
  • CA Gov. Brown Allegedly Took $3 Million from 9/11 Fund- As California teeters near default in many areas, news is breaking that Gov. Jerry Brown may have taken up to $3 million from a fund created “in honor of the victims of the 2001 terror attacks” to make up for shortfalls.The fund, which was raised by the sale of specialized plates within the state, totals approximately $250 million, and the AP reports that both Brown and former Gov. Arnold Schwarzenegger each allegedly dipped into the monies in an effort to make ends meet.
  • GAO: Tax cheats get millions in Medicaid money- One in every 20 health providers getting taxpayer money from Medicaid is delinquent on their federal taxes, and in some cases the tax cheats are years behind in paying the IRS, according to a new audit by Congress’s investigators.The Government Accountability Office looked at about 7,000 providers in three large states who Medicaid reimbursed more than $6 billion in 2009 and found that they had nearly $800 million in unpaid federal taxes.In two cases, the health companies — which range from dentists and doctors to private ambulances and medical supply companies — had been under criminal investigation, including for medical billing fraud.“It is outrageous that heath care providers who cheat on their taxes are getting paid with taxpayer dollars through the Medicaid program,” said Sen. Carl Levin, chairman of the Senate’s investigative subcommittee.He called for the government to prohibit companies with unpaid taxes from Medicaid money.
  • Tax Scam: IRS Pays Out Billions in Fraudulent Refunds- The IRS is paying out billions of dollars in fraudulent tax refunds to identity thieves; a problem that the tax service’s inspector general told CNBC is a “growing problem” involving numbers that are increasing “exponentially.”In a new report to be issued Thursday, the inspector general for the IRS says that tax thieves are stealing the identities of taxpayers and then filing bogus returns on their behalf and collecting fraudulent refunds as a result.The inspector general estimates that the IRS could issue as much as $21 billion in fraudulent tax refunds over the next five years.
  • Pelosi, Dems push Homeland Security for clarity on LGBT deportations- Scores of House Democrats called on the Obama administration this week to protect lesbian, gay, bisexual and transgender (LGBT) couples when considering deportations.Behind Minority Leader Nancy Pelosi (D-Calif.) and Rep. Jerrold Nadler (D-N.Y.), the lawmakers want the Department of Homeland Security (DHS) to state explicitly that LGBT “family ties” will be deemed “a positive factor” discouraging deportation as DHS agents gauge whether to pursue cases.
  • Defense Lawyers Say Prop 37 Will Bring Bumper Crop of Litigation- With recent polling suggesting Californians want labels on genetically modified food, defense attorneys warn that an upcoming ballot initiative could generate a bumper crop of litigation.Proposition 37, also known as the Right to Know Genetically Engineered Food Act, would require labels on edibles containing ingredients whose DNA was tweaked to increase yield, to fight off disease or for any other reason. If voters approve the initiative in November, California would become the first state in the nation to employ such a far-reaching consumer alert system.Proponents say their measure has a simple rationale: Californians should know what’s in the food they buy and eat. But legal critics say compliance would be a far more complex task. And they point to an enforcement provision authorizing private consumer lawsuits, something defense lawyers compare less than flatteringly to Prop 65, the 1986 law that requires businesses to warn consumers about chemicals they use.”When I used to go and talk about Prop 65 when it was on the ballot, I would say the biggest beneficiaries would be lawyers. I think that goes double for Prop 37,” said Michele Corash, a environmental defense partner with Morrison & Foerster.James Wheaton, the Oakland attorney who helped draft Prop 37, said such claims amount to scare tactics.
  • Majority of Californians say they know nothing about emissions cap-and-trade program- California’s landmark global-warming bill was a white-hot topic in the 2010 governor’s race and remains former Gov. Arnold Schwarzenegger’s signature environmental achievement.But as the state prepares to unroll the law’s cap-and-trade program in November with the first state auctions of emissions permits, a new poll finds that 57 percent of Californians say they have never heard anything about the program.The statewide poll by the Public Policy Institute of California further found that 30 percent of respondents said they had heard “a little,” while just 12 percent said they had heard “a lot.”
  • Police Chief’s $204,000 Pension Shows How Cities Crashed- Stockton, California, Police Chief Tom Morris was supposed to bring stability to law enforcement when he was appointed to the job four years ago.He lasted eight months and left the now-bankrupt city at age 52 with an annual pension that pays more than $204,000 — the third of four chiefs who stayed in the position for less than three years and retired with an average of 92 percent of their final salaries.Stockton, which filed for bankruptcy protection on June 28, is among California cities from the Mexican border to the San Francisco Bay confronting rising pension costs as they contend with growing unemployment and declining property- and sales-tax revenue. The pensions are the consequence of decisions made when stock markets were soaring, technology money flooded the state, and retirement funds were running surpluses.“We didn’t have very many people looking out for the taxpayers when these deals were negotiated,” San Jose Mayor Chuck Reed, 63, said in a telephone interview. San Jose, the state’s third-largest city, approved a ballot measure in June to contain annual retirement costs that soared to $245 million from $73 million in the past decade.
share save 120 16 The Morning Flap: August 3, 2012
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