Weakness In Electricity Trading Exposed; State Agency $73M ShortCalifornia officials say a big electricity trader has apparently figured out a way to exploit vulnerabilities in the state’s $8 billion-a-year electricity market, just as Enron Corp. did a decade ago.
California Parks Department Sitting On $54M Surplus; Director ResignsThe director of the California Department of Parks and Recreation has resigned and a deputy has been fired after officials learned the department has been sitting on nearly $54 million in surplus money for years.
UC Tuition Freeze Hinges On Brown's California Tax InitiativeThe University of California Regents on Wednesday voted to endorse the governor’s tax plan, and contingent on its passing, to freeze next year’s undergraduate tuition costs, as well as put into place fee increases for professional programs system-wide.
CalPERS Reports Dismal 1 Percent ReturnThe nation’s largest public pension fund reported a dismal 1 percent return on its investments, a figure far short of projections that will likely add pressure on California’s state and local governments to contribute more.
Californians Favor Legalizing Sports Betting To Help Balance BudgetWhy limit gambling on sports to the Vegas casinos when our state could make millions in taxes from it? That's the current thinking in New Jersey, New York, and now California.
California Teacher Pension Fund Posts Low Investment ReturnCalifornia’s teacher pension fund has earned a 1.8 percent return from investments this year, a rate that falls short of expectations and could add to the system’s shortfall.
Gov. Brown Issues Furloughs For 11,000 State WorkersCalifornia Gov. Jerry Brown has issued a furlough order for more than 11,000 state workers whose unions have yet to reach a deal for a 5 percent wage cut.
UC Tuition May Rise 20 Percent If Brown Tax Measure FailsUniversity of California students will likely face a steep midyear tuition increase if voters reject Gov. Jerry Brown’s tax initiative.
Governor Brown’s Tax Initiative To Top November Ballot Gov. Jerry Brown's initiative to raise taxes has received top billing on the November ballot after a judge rejected a challenge from a competing measure.
Melissa Griffin: Ballot Battle Over California Tax Measure PlacementGovernor Jerry Brown and civil rights attorney Molly Munger are going head to head over whose tax proposal is listed first on the November ballot, and July 1 marks the start of new laws in California.
Brown, Democrats Fail To Reach Pension Reform DealThe governor said he couldn’t reach a deal with lawmakers on his comprehensive proposal that included raising the retirement age and moving workers to a hybrid pension-401(k) system.
Effort To Boost Brown's California Tax Hike Draws LawsuitAn effort to give Gov. Jerry Brown's tax initiative top billing on California's November ballot has drawn a lawsuit by a rival tax campaign.
California Parks Slated For Closure To Remain Open TemporarilyWith a busy Fourth of July week looming, California parks officials announced Thursday that 65 of the 70 state parks once slated to close Sunday due to budget cuts will remain open.
New California Budget Crafted To Influence VotersGov. Jerry Brown and Democratic lawmakers have long warned of dire consequences if California voters reject a proposed tax hike on the November ballot.
Governor Brown Signs California Budget Relying On Tax ProposalGov. Jerry Brown signed a new budget for California on Wednesday that relies heavily on voters approving his proposed tax hikes in November.