Posts Tagged: Mills

Does public banking loom in California?

A branch of Bank of America in Beverly Hills. (Photo: 4kclips, via Shutterstock)

by SCOTT SORIANO posted 06.24.2019

By law, currently California cities and counties typically have one place to deposit the funds they collect from taxes, fees and fines: private commercial banks. Billions of dollars of public money are handled by commercial banks — for a fee. Despite having billions of dollars banked, municipalities have no say in how their money is used by commercial banks. Bank management, owners and stockholders set policy.

Stem cell agency faces leadership challenge

Human embryonic stem cells. (Photo: California Institute for Regenerative Medicine)

by DAVID JENSEN posted 06.27.2017

California’s 12-year-old stem cell research effort is expected to give away tens of millions of dollars in public this week, but its most important matters — issues that deal with its survival and future — likely will be discussed behind closed doors at a meeting Thursday of its governing board. On the table is the leadership of the $3 billion organization, which is scheduled to run out of cash in just three years.