An owner of a small business is ready for customers. (Photo: SaiArLawKa2, via Shutterstock)OPINION: As the fifth largest economy in the world, California is home to heavyweight economic industries: Silicon Valley, the entertainment industry, agriculture, tourism, and more. But anyone who lives here knows that there’s also a boom in the number of people who are starting their own microbusinesses.
The apparent suicide last week of Alfred Villalobos, who faced a bribery trial next month, is a sad end for a former CalPERS board member paid more than $50 million by firms seeking money from the big pension fund. Most of his fees came from private equity firms during the years leading up to the financial crisis in 2008. Some call the period private equity’s “golden years,” when leveraged buyouts of corporations yielded huge profits.
Gov. Brown unveils 2014-15 state budget plan.Gov. Brown has proposed a $106.8 billion state budget for the fiscal year beginning in July that reflects an improving economy, bumps public school funding by more than $6 billion and makes no mention of a $990 million universal kindergarten program sought by legislative Democrats. (Photo: Samantha Gallegos/Capitol Weekly)