Governor (Arnold) Seeks Outside Donors for Campaigns

[realFedUp]

http://www.latimes.com/news/local/la-me-arnold29jan29,0,1699289.story?coll=la-home-headlines

Governor Seeks Outside Donors for Campaigns

Lucrative new sources from across the U.S. would help fund a fight over California's voting districts and pension system, he says.

By Robert Salladay and Peter Nicholas
Times Staff Writers

January 29, 2005

Gov. Arnold Schwarzenegger said Friday he would enlist donors from across the country to fund a multimillion-dollar fight over California's public pension system and its voting districts — reforms being watched with keen interest on Wall Street and a bit of panic in Washington, D.C.

The governor's comments signaled that his ambitions for 2005 could flood California with campaign contributions from lucrative new sources. And raising money on a national scale would allow Schwarzenegger, frequently mentioned as a presidential hopeful even though the Constitution bars foreign-born citizens from serving, to take a wider stage and expand his fundraising network.

In a wide-ranging interview, Schwarzenegger also modified his plan to reward teachers with merit pay based on their performance in the classroom — a controversial idea staunchly opposed by unions. The governor shifted his focus to the less contentious idea of "combat pay" — extra money for teachers who work in low-income schools where, he said, they are "threatened always with their lives and their cars are stolen."

As for his political ambitions, the governor said he wanted to raise at least $50 million to fund his 2005 proposals for overhauling government. His plans, announced three weeks ago, could include multiple ballot propositions and a TV advertising blitz leading up to a special election in November.

continued..

[patricia92243]

1. What is his stand on public pension system? Don't know anything about CA

[realFedUp]

2. He wants to privatize teacher's pensions...it's inside this article

If you can't access it, I'll go back and
find it.

Yeah, someone ought to be talking about
how Arnie wants to take $300 billion or
so of CA teacher pensions and privatize them.

[realFedUp]

3. More from article on privatizing pensions

For its part, Wall Street has an enormous stake in how Schwarzenegger proposes to transform California's pension systems for teachers and state workers, now worth nearly $300 billion in combined assets.

Schwarzenegger's plan would move new state employees into individual 401(k) investment plans by mid-2007. That means Wall Street investment houses would be able to work with tens of thousands of clients instead of just the handful of expert investors at CalPERS and CalSTRS, the two public pension systems. The windfall could be huge.

[doodadem]

7. CALPERS

My husband is not a teacher, but he works for the board of education, so his retirement is all in CALPERS. Arnold is doing the same damn thing Bush is--trying to get his hands on people's retirement. In both cases, CALPERS and Social Security, they are some of the very few programs out there that are doing really well and paying for themselves. They just can't stand it--have to try and screw it up.
This is just more Republican criminal insanity! Please explain to me how these multi-millionaire assholes, who will never have to worry about how they're going to pay bills in their retirement, get to play fast and loose with the security of people who have worked hard all their lives.

[msongs]

4. now it has vanished!

is that you Karl?

and now it HAS DISAPPEARED.............yep its Karl all right :-)

Msongs
www.msongs.com/political-shirts.htm

[leesa]

5. If they are sound plans, why would he need all this marketing. Especially

when the GOP controls the press?

[bemildred]

6. This seems an empty threat to me.

Ahnuld will get beaten over the head with all the outside money
in an election. Californios don't care all that much for outside
interests meddling in their state.