Category: Pensions

The curse of the Gray PERL: Part 7, “CalPERS says the city would owe it $1.6 billion”

17 June, 2015 (10:00) | Bankruptcy, California, Federal supremacy, Law, Municipal bankruptcy, Pensions, Politics, Public-employee pensions, Speculation, Stockton, US Constitution, US News | No comments

 By: David A. Smith [Continued from yesterday’s Part 6 and the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.] Now readers fully understand, as laid out by Stockton Judge Christopher Klein’s bankruptcy decision and opinion (In re City of Stockton), CalPERS’ unique position under California law.  CalPERS had a position so […]

The curse of the Gray PERL: Part 5, “The CalPERS board gets to block changes”

15 June, 2015 (10:00) | Bankruptcy, California, Federal supremacy, Law, Municipal bankruptcy, Pensions, Politics, Public-employee pensions, Speculation, Stockton, US Constitution, US News | No comments

 By: David A. Smith [Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] To appreciate just how important was Stockton Judge Christopher Klein’s bankruptcy decision and opinion (In re City of Stockton), one must understand at least some of what makes CalPERS the evil empire, possessed of powers and […]

Month in review, January 2015: Part 2, Hello to the future

2 March, 2015 (10:00) | Airbnb, Detroit, Golf, Green space, Month in review, Municipal bankruptcy, Pensions, Public employees, Speculation, Transportation, Urban issues, Urbanization, US News, Zoning |

[Continued from Friday’s Part 1.] By: David A. Smith Although half of January’s post concerned themselves with the unhappy past, the other half looked at the emerging, even disrupted, future, starting with the visible-yet-covert dissolution of urban zoning by Airbnb and its local ‘hosts,’ who are multiplying invisibly, as revealed in Aiding and a-bedding? Part 1, […]

Month in Review, January, 2015: Part 1, Goodbye to the past

27 February, 2015 (10:00) | Airbnb, Detroit, Golf, Green space, Month in review, Municipal bankruptcy, Pensions, Public employees, Speculation, Transportation, Urban issues, Urbanization, US News, Zoning | 1 comment

By: David A. Smith A new year means a new beginning and new resolutions, and 2015’s first post completed the story of Detroit’s financial death-and-rebirth through bankruptcy, though to hear the New York Times tell it, Detroit’s recovery would be A fleeting miracle? Part 2, As long as the city recovers: Public-employee pension funds are […]

Doublethink pension funding: Part 10, “One would think that alert trustees”

16 January, 2015 (10:00) | Actuaries, Bankruptcy, Bonds, Capital markets, Cities, Detroit, Housing, Municipal bankruptcy, Net present value, Pensions, Speculation, US News |

[Continued from yesterday’s Part 9 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, and Part 8.] By: David A. Smith It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. The Revolution will be complete when the […]