Posts Tagged: schwarzenegger

News

CalPERS eyes long-term rate hike

The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)

CalPERS is considering small increases in employer and employee rates over decades to reduce the risk of big investment losses, a policy that also would lower an earnings forecast critics say is too optimistic. The proposal is a response to the “maturing” of a CalPERS system that soon will have more retirees than active workers. From two active workers for each retiree in 2002, the ratio fell to 1.45 to one by 2012 and is expected to be 0.8 to 0.6 to one in the next decades.

News

Proposed pension initiative targets local changes

The leaders of two local pension reforms, former San Jose Mayor Chuck Reed and former San Diego Councilman Carl DeMaio, are working with a coalition on a statewide initiative to help local governments make cost-cutting pension reforms. During a break at the Reason Foundation’s third annual Pension Summit in Sacramento last week, the two men said they are “on the same page” and working with a coalition on the details of a proposed initiative for the November 2016 state ballot.

News

Shoe shiner Eddie Wright among Senate layoffs

Shoe shine man Eddie Wright, a familiar figure in the Capitol who has polished the shoes at the South Entrance for 22 years, has been laid off because of budget cuts. A shoe shine stand has existed in the Capitol for a century. In 1992, when Wright took it over, the job was private. A decade later, former Senate Leader John Burton made Wright a Senate staffer and put him on the official payroll, according to the Capitol Morning Report, which first reported Wright’s situation.

News

CCPOA’s clout high, but profile low

An officer of the California Correctional Peace Officers Association at memorial services for fallen colleagues. (Photo: CCPOA)

The California Correctional Peace Officers Association was once one of the most visible – and powerful – political forces in Sacramento. It thrived with the state’s vast prison expansion and it muscled concessions from Democratic and Republican governors alike. But the CCPOA now is in transition. The 28,500-member union still has the power – but it keeps a far lower profile.

News

He’s back — in his official portait

Former Gov. Arnold Schwarzenegger poses with his official portrait after it was unveiled at the Capitol in Sacramento, Calif., Monday, Sept. 8, 2014. The photograph-like giant image of the former governor was done by Austrian artist Gottfried Helnwein and will hang on the third floor of the Capitol. (AP Photo/Rich Pedroncelli)

Arnold Schwarzenegger returned to the Capitol today for the first time since leaving office as governor nearly four years ago to unveil his official – and massive – executive portrait. The big painting — it’s about seven feet long by five feet wide — will be the largest portrait of a governor hanging on the walls of the state Capitol.

News

Brown outlines $6 billion water bond

The dry bed of Ivanpah Lake in San Barnardino County, which had been filled by the 2004-05 rains. (Photo: Ed Berlen)

The governor, up for reelection in November, announced the plan on his campaign web site in an open letter to voters. If approved by lawmakers, it would replace the $11.14 billion water bond scheduled to go before voters in November. That bond, delayed for years, was approved in a bipartisan vote in the Legizslature and signed by former Gov. Arnold Schwarzenegger.

News

Kevin McCarthy: Political skills trump policy

Rep. Kevin McCarthy, R-Bakersfield, shortly after being named House Majority Leader. (Photo: Associated Press)

Kevin McCarthy, the newly minted House Majority Leader, rose speedily through the GOP ranks during his time as a California legislator – and used political instincts he honed in Sacramento to achieve power in Congress. During his time in the state Assembly, McCarthy was known as a deal-maker. He became Assembly minority leader only two months after Republican Gov. Arnold Schwarzenegger took office in 2003, and worked closely with him to unite the party by engineering difficult votes on controversial issues.

News

Oil severance tax at center stage

Pumpjacks in a Kern County oil field, November 2013. (Photo: Christopher Halloran)

It has been killed repeatedly in the state Legislature or at the ballot box, but the backers of an oil severance tax hope 2014 is the year to get it done, to the tune of $2 billion annually. But history is not on their side. Above: Pumpjacks in Kern County, November 2013. (Photo: Christopher Halloran)

News

Corporate tax receipts slide, despite profits

Gov. Schwarzenegger unveils budget, 2009

It’s a litany of good news in Gov. Jerry Brown’s election-year budget. Safety net programs are being shored up. Debt is being repaid. Revenues are rising.

Except for corporate taxes.

In fact, business tax receipts are falling at the same time hefty profits are being posted by major companies across the country. (AP Photo/Rich Pedroncelli)

News

Do water woes help 2014 bond?

But even as the rain clouds appear sparse, there may be a silver lining for the backers of a major ballot measure: Experts say the grim outlook could spur voters to approve a multibillion-dollar bond facing voters in November 2014. It could bring to reality the need to borrow money and resolve some of the state’s water issues. (Photo: Lower American River, USFWS)

Support for Capitol Weekly is Provided by: