The California Public Employees Retirement System has voted to adopt a trend-setting forest investment policy that requires certified sustainable forest management. This policy will direct $2.4 billion in CalPERS investments toward environmentally friendly projects. I feel that this is important because CalPERS is easily one of the biggest players in the game when it comes to investing in California.
The author goes on to explain that many financial investors are looked at as a hedge against inflation. The author goes on to say that a sustainable forest will produce positive numbers in the long term and will perform well when other assets are affected by inflation.
I feel that this is big news because CalPERS has taken the control away from publicly traded companies that would force the forest companies to cut trees prematurely in order to meet short-term quarterly earnings goals.
Link: http://www.nature.org/wherewework/northamerica/states/california/press/calpers21908.html
Wednesday, February 20, 2008
Wall Street says Schwarzenegger is overselling lottery idea/Karla Saia
With California facing a $14.5 billion budget shortfall, Governor Arnold Schwarzenegger has espoused privatizing the state’s lottery. He proposes leasing the lottery to the highest bidder, and has projected the windfall from the lease could reach as much as $37 billion, half of which may be paid up front.
However, several Wall Street investment banks have concluded that Schwarzenegger’s estimate might be wildly optimistic. While Lehman Brothers did valuate the CA lottery at as much as $37 billion over 40 years, other firms, such as Bear Stearns, Citibank, Goldman Sachs, and others, value the lease anywhere between $7 and $29 billion, with as little as approximately $9 billion up front.
Further, legislators and citizens groups are worrying about the possibilities of having to relax state gambling laws, and that an increase in lottery ticket sales would fall disproportionately on Californians in lower-income brackets. Maximizing the lottery’s value would entail selling tickets through ATMs, cell phones, college campuses and at bus stations, thereby shifting the burden of the budget shortfall to those most financially vulnerable.
California, if it approves the plan, would be the first state to privatize its lottery.
Link: http://www.signonsandiego.com/news/state/20080219-1048-schwarzenegger-lottery.html
However, several Wall Street investment banks have concluded that Schwarzenegger’s estimate might be wildly optimistic. While Lehman Brothers did valuate the CA lottery at as much as $37 billion over 40 years, other firms, such as Bear Stearns, Citibank, Goldman Sachs, and others, value the lease anywhere between $7 and $29 billion, with as little as approximately $9 billion up front.
Further, legislators and citizens groups are worrying about the possibilities of having to relax state gambling laws, and that an increase in lottery ticket sales would fall disproportionately on Californians in lower-income brackets. Maximizing the lottery’s value would entail selling tickets through ATMs, cell phones, college campuses and at bus stations, thereby shifting the burden of the budget shortfall to those most financially vulnerable.
California, if it approves the plan, would be the first state to privatize its lottery.
Link: http://www.signonsandiego.com/news/state/20080219-1048-schwarzenegger-lottery.html
Oxnard Assemblyman Proposes Hate Crimes Bill for Schools/ Claudia Paredes
In reaction to a hate crime in Oxnard, Assemblyman Mike Eng is introducing a bill to establish a pilot program that will aim to prevent hate crimes in schools. He is asking from up to $150,000 to create a pilot program that would include diversity and sensitivity awareness and education in schools statewide. This bill also includes protocol for teachers and administrators to contact law enforcement when they become aware of student harassment that may result in a hate crime. Currently, there are laws in place where teachers and counselors can report sexual impropriety with youth, but there are no procedures for reporting possible violent hate crimes.
Link: http://www.latimes.com/news/local/politics/cal/la-me-hate19feb19,1,1017789.story?ctrack=3&cset=true
Link: http://www.latimes.com/news/local/politics/cal/la-me-hate19feb19,1,1017789.story?ctrack=3&cset=true
Thursday, February 14, 2008
Inmate education increase urged by report: Legislative Analyst’s Office says boosting classes saves money/ April Johnson
The California Legislative Analyst’s Office released a report this week stating that California would save a lot of money if more prisoners were enrolled in educational programs. Numerous studies are showing that when education increases, recidivism decreases and that the state could essentially save $14,000 per inmate if they returned to their community as a productive citizen.
The state is trying to turn things around, however, by making “new commitments” when it comes to prison educational programs. In 2006-07, the state spent $202 million on these programs but have since discovered that this funding needs to become more efficient. One problem is that these programs are vastly underutilized with only 40% of enrolled inmates attending class on a given day. What’s now being proposed is an incentive for departments to get more inmates enrolled in these programs by allocating a bigger share of the pie to those departments who get their enrollments up. Also being proposed is an increase in visitor hours for inmates enrolled in educational programs as well as getting these inmates into class even when their unit is in lockdown. The good news is that the Department of Corrections agrees with the findings of the LAO, with corrections spokesperson Oscar Hidalgo stating that his rehabilitation “strike team” is pushing to enroll 75% of its inmates into these programs.
Link: http://www.sacbee.com/capolitics/story/708274.html
The state is trying to turn things around, however, by making “new commitments” when it comes to prison educational programs. In 2006-07, the state spent $202 million on these programs but have since discovered that this funding needs to become more efficient. One problem is that these programs are vastly underutilized with only 40% of enrolled inmates attending class on a given day. What’s now being proposed is an incentive for departments to get more inmates enrolled in these programs by allocating a bigger share of the pie to those departments who get their enrollments up. Also being proposed is an increase in visitor hours for inmates enrolled in educational programs as well as getting these inmates into class even when their unit is in lockdown. The good news is that the Department of Corrections agrees with the findings of the LAO, with corrections spokesperson Oscar Hidalgo stating that his rehabilitation “strike team” is pushing to enroll 75% of its inmates into these programs.
Link: http://www.sacbee.com/capolitics/story/708274.html
Watts Comes Together To Fight School Violence/ Julia Gonzalez
Students at Markham Middle school located in Watts, CA., finally have something positive to look forward to at school—education sans violence. Markham is located in a violent neighborhood known for its seven notorious street gangs, and is bordered by four public housing projects. Recent campus violence-related statistics over the last year include: a suspension of 278 students due to attempted physical harm, 196 for defiance, 19 assaults against staff, 14 related to theft, 9 for sexual harassment, and 6 for possession of marijuana.
The absence of safety has recently drawn the ire of the community—namely former substitute teacher Michelle McGinnis, turned Prosecutor who decided that the time for reform was long overdue. Specifically, McGinnis has advocated that students desperately needed a program aimed at augmenting opportunities for children to be safe, and secure while studying on campus. This in turn, has yielded a robust community-based approach, armed with private donations has helped to pay for the first ever LAUSD on-campus Boys & Girls Club facility, for a new washer and dryer, for new school uniforms, and tennis shoes—a push to encourage students to engage in basketball during lunch instead of engaging in incessant fights.
While it is too early to postulate on the long-term benefits of the new program, proponents have pointed to the program’s early success as a cause for optimism—as arrests are already down 19%.
Link: : http://www.latimes.com/news/local/la-me-markham11feb11,1,1844220.story?ctrack=3&cset=true
The absence of safety has recently drawn the ire of the community—namely former substitute teacher Michelle McGinnis, turned Prosecutor who decided that the time for reform was long overdue. Specifically, McGinnis has advocated that students desperately needed a program aimed at augmenting opportunities for children to be safe, and secure while studying on campus. This in turn, has yielded a robust community-based approach, armed with private donations has helped to pay for the first ever LAUSD on-campus Boys & Girls Club facility, for a new washer and dryer, for new school uniforms, and tennis shoes—a push to encourage students to engage in basketball during lunch instead of engaging in incessant fights.
While it is too early to postulate on the long-term benefits of the new program, proponents have pointed to the program’s early success as a cause for optimism—as arrests are already down 19%.
Link: : http://www.latimes.com/news/local/la-me-markham11feb11,1,1844220.story?ctrack=3&cset=true
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