Schwarzenegger Plans Shake-Up of Calif. Pensions

[gatorboy]

http://news.yahoo.com/news?tmpl=story&cid=1896&u=/nm/20050105/us_nm/politics_calpers_dc_1&printer=1

<snip>
SAN FRANCISCO (Reuters) - California Gov. Arnold Schwarzenegger (news - web sites) will urge lawmakers to pass a sweeping overhaul of the state's public pension systems, including Calpers, the nation's largest pension fund, an aide said on Wednesday.

Schwarzenegger plans to use his "State of the State" address on Wednesday evening to back a plan that would scrap California's defined-benefit public pension plans in favor of defined-contribution plans similar to 401(k) retirement plans in the private sector.

Critics of that partial privatization, which mirrors Bush administration moves to shift Social Security (news - web sites) money into private accounts, call it an attempt to undercut the influence of Calpers as a corporate watchdog and curb its political activism.

The aide to Schwarzenegger, a popular Republican who has clashed with the state's Democrat-controlled legislature, declined to provide details.

<snip>

[Sandpiper]

1. Voters need to be reminded of the last privatization snake oil

They were sold by a Repuke governor, when Pete Wilson decided that California's electricity should be privatized and left in the hands of Enron.

[xxqqqzme]

2. just like steroid boy campaigned

during the recall - details 2 B supplied later - guess wilson didn't fax them over in time 4 the release

[FreakinDJ]

3. Gropanator needs to get a grip

The GOP is trying to sell America and now Calif. on this crap.

Do they think we have forgotten How much was stolen from the pension plans by Enron and Worldcom?

Calpers alone lost 140 million on just The Enron scam

Has anyone tallied the total losses to American pension plans by Bush and his band of 40 theives

[cosmicdot]

4. well, they did get rid of CalPERS' president, Sean Harrigan

someone who is "one of the nation's most outspoken advocates for corporate governance reform" ... you may recall the strike against Safeway which occurred in California last year ... that was Harrigan's union, the United Food and Commercial Workers ... sure looks like retribution and setting the stage for these 'shake-up' plans

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=2893123#2893191

~snip~
"The dismissal of Sean Harrigan from the presidency of California's giant public employee pension fund, CalPERS, is just the latest skirmish in the corporate governance wars. On one side are pension and mutual funds that believe corporations must be prodded to consider shareholder interests. On the other are business executives tired of being blamed - and regulated - for what they view as a few bad corporate apples such as Enron." ~snip~
http://www.sacbee.com/content/opinion/story/11792565p-12677253c.html

"Ousted CalPERS president convinced governor helped bounce him"
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=141x4997

side note: February 1, 2001
CalPERS Invests $425 Million in The Carlyle Group
http://dc.internet.com/news/article.php/2101_576721


Anti-Schwarzenegger Campaign Kicks Off

Calif. Treasurer Calls for More Taxes to Protect Schools, Health Care, Criticizes Schwarzenegger
The Associated Press

SACRAMENTO, Calif. Jan 5, 2005 — The state treasurer announced Tuesday the start of a statewide TV ad campaign criticizing Gov. Arnold Schwarzenegger for "breaking his promise" to voters not to spend more than the state takes in.

Treasurer Phil Angelides, a Democrat, said Schwarzenegger's budget policies have put the state at risk by relying too much on borrowing and spending cuts to close an $8.1 billion budget gap.

Instead, Angelides proposed a mix of spending cuts with a tax increase on the state's highest earners to balance the books.
~snip~

http://abcnews.go.com/US/wireStory?id=385597&CMP=OTC-RSSFeeds0312

Schwarzenegger Plans Harder Line With Dems
AP via Yahoo! News - Jan 05 4:23 PM
Gov. Arnold Schwarzenegger plans to take a harder line with the Democrat-controlled Legislature this year, challenging lawmakers to follow his lead on reform or face him at the polls, aides say.
~snip~
http://news.yahoo.com/news?tmpl=story&u=/ap/20050106/ap_on_re_us/schwarzenegger_speech_2

it's war on all fronts ... and, it's corporate america vs. We the People (wish the 04 campaign had made it more of an issue)

pet peeve: apologists for the Gropinator, i.e, 'but, he's liberal on social issues' ... don't trust him further than you can throw Maria ... he'll abandoned those positions, if he really has them, in a heart beat ... what he was set up to do is becoming clear ... and, he's probably holding illegitimate power, too ... just like shrub ... is Jeb Bush's accountant loan still on the job?

[Erika]

5. Ahnold is not all there, nd/or GOP

How dare he talk about limiting pension plans. These workers have paid in bucks most of their lives to the pension plans. Does he think he is Enron or a bud of Bush so he can just steal their money?

[The_Casual_Observer]

6. Stupid people voted for the ugly bastard because of the "car tax"

and because it would be "fun". Now bastard is in a money bind because bastard can't make good on his big lousy promises. fuck the evil bastard piece of shit.

[Erika]

7. I can remember Ahnold saying he would help the schools

as part of his campaign pledge. I for one am totally disgusted his wife went along with his scam of the taxpayers.

[Moderator]

8. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1124297