Change You Can Xerox: Guv Budget Mimics Legislature's, Plus: More On The Union Pacific Deal, And: Back On The UNM Beat

Jerry Brown's tough budget hinges on big if
Gov. Jerry Brown had promised to deliver a "tough Budget for tough times." He kept his word Monday. Brown proposed to close a Budget gap with a combination of $12.5 billion in cuts, $12 billion in revenue. It contained something for just about everyone to hate, as it sliced into almost every aspect of State Government except for K-12 education. As austere as Brown's Budget appeared - shrinking the $92 billion general fund to $84 billion in the Fiscal Year that begins July 1 - it is held togeth...

Jerry Brown budget protects teacher and correctional officer unions, but probably screws yours truly
Everybody who lives and works in California is going to suffer from Jerry Brown's proposed Budget. Everybody except the unions to whom he owes his election. The teachers' unions spent millions to elect Brown. Their payoff? K-12 education was fenced off and spared cuts in the proposed Budget. Brown plans to fund doing so by a Referendum extending what were supposed to be temporary taxes. The correctional officers' union also spent millions to elect Brown. Their payoff? Corrections a...

State's redevelopment agencies walloped in proposed budget
Among the hardest hit in Gov. Jerry Brown's proposed $12.5 billion cuts Monday were the state's 400-plus redevelopment agencies, which -- if Brown has his way -- the legislature would phase out by July 1. "The Governor appears not to understand how Job Creation and job growth happen at the local level, because he is preparing to take away the most important tools we have,'' said San Jose Mayor Chuck Reed. Redevelopment agencies are formed to eliminate blight and revitalize designated "project ar...

Debate Over Pension Reform Heats Up
The stakes were raised Monday in the debate over reforming Florida’s Public Pension system, as one union official decried the proposed “radical” changes and the “myths” public officials expound whenever they talk about the system. Legislators have targeted the Florida Retirement System for reforms as a way to cut spending. No Legislation has been written or filed so far, but some have looked at requiring an employee contribution, because the system is fully funded b...

Martinez budget proposal cuts 3 percent
Susana Martinez says her Budget proposal, released Tuesday, will cut state spending by three percent and won’t raise taxes. The proposal is based on estimates from December 2010 that the state’s revenues will increase 4.4 percent from Fiscal Year 2011 to Fiscal Year 2012. Martinez’s Budget plan would cut administrative costs from education, roll back the film subsidy program put into place by Gov. Bill Richardson and sizably cut the state environment department. According to th...

Gov. Brown strips cell phones from state employees
(01-11) 18:40 PST Oakland -- Gov. Jerry Brown issued his first Executive Order Tuesday, taking aim at a convenience that wasn't in vogue the last time he was the state's Top Official: cell phones. The Governor ordered state agency and department heads to collect half of the approximately 96,000 state-issued cell phones used by Public Employees, a move he said will save California at least $20 million a year. Brown also plans to return his own state-issued cell phone, said Evan Westrup, a spok...

LA County CEO: Brown's Budget Will Hurt
Los Angeles - A top public official said Tuesday he's worried about whether Los Angeles County will have enough funding to support Gov. Jerry Brown's proposal to shift a host of responsibilities from the state to counties. County CEO Bill Fujioka told county supervisors that California's most populous county should embrace Brown's proposal to restructure State Government to help resolve a projected $25.4 billion Deficit. Brown on Monday called for $12.5 billion in Spending Cuts, including reduct...

Governor reveals ABC plan
Gov. Bob McDonnell is pursuing a new liquor privatization plan that he hopes will be easier to swallow. McDonnell proposes that the state retain control of the wholesale operation and privatize the retail portion to reap a $200 million to $400 million Windfall for transportation, under a plan to be crafted into Legislation for the General Assembly session that starts today. Annual revenue to the state's general fund from liquor sales — budgeted at $324 million in the Fiscal Year that began...

California slashes official cell phone use
New California Governor Jerry Brown ordered Tuesday the confiscation of half of the cell phones used by Public Employees in the state, as he slashes its Budget to rein in a huge Deficit. Brown, a Veteran Democrat who took over from Republican former film star Arnold Schwarzenegger this month, said far too many Civil Servants had their Mobile Phones provided from the public purse. "It is difficult for me to believe that 40 percent of all State Employees must be equipped with Taxpayer-funded cel...

Some AFSCME members could lose union cards
* This bill has not yet been assigned to a Senate committee, but it’s expected that the chamber will call it for a vote… The Illinois House pushed through a bill on Monday that would limit certain state workers’ rights to join a Collective Bargaining unit. The bill, which is backed by Gov. Pat Quinn, passed on a 64-49 vote and now heads to the Illinois Senate, where it must pass before noon Wednesday in order to head to the Governor’s desk. The Legislation, Senate Bill 3644, is...

Critical Alerts for Microsoft, DuPont, Union Pacific, MedcoHealth Solutions, and BorgWarner Released by Seven Summits Research
CHICAGO, Jan. 11, 2011 /PRNewswire/ -- Seven Summits Research issues critical PriceWatch Alerts for MSFT, DD, UNP, MHS, and BWA. Today's PriceWatch Alerts cover the following stocks: Microsoft Corporation (NASDAQ: MSFT), EI DuPont de Nemours & Co. (NYSE: DD), Union Pacific Corporation (NYSE: UNP), MedcoHealth Solutions Inc. (NYSE: MHS), and BorgWarner Inc. (NYSE: BWA). In today's unsure markets these brief PriceWatch Alerts contain concise detailed strategies for each covered stock and inclu...

Perry wants Rainy Day Fund off limits to balance budget
Austin - Gov. Rick Perry on Monday said he was opposed to using the state's rainy day fund to help pay for services despite a looming Budget shortfall that is estimated at $15 billion to $27 billion during the next two years. "We will prioritize what's important in this state. We will fund those. And we will craft a Budget that meets those revenue projections and not raise taxes nor get into the rainy day fund," Perry said. "And that's been a consistent message for at least a year and a half."...

Is Texas Special?
In the summer of 2010, the recovery was cooling and Texas appeared, comparatively, on fire. Its major metro areas claimed four of the top five spots in the Milken Institute's Best Performing Cities Index, four of the top ten of Forbes' "Cities Where the Recession is Easing," and another four spots in last year's Top Ten in Homebuilding. Its state Debt ranked fourth best in the country. CNBC had recently named Texas the Top State for Business for the second time in three years. Now what? Texas su...

Kentucky editorial roundup
It's no secret Americans are financially illiterate. Take, for example, a huge financial paradox to which we subscribe: We decry any increase in any tax, yet we believe our governments should foot the bill for everything from crayons for school kids to wars in two countries. We can't have it both ways. Politicians know that, but it's not really to their advantage to do much about either (a) educating the population on fiscal matters or (b) acting in a beneficent manner. Sure, our representatives...

McDonnell wants to privatize ABC retail operation
Gov. Bob McDonnell is pursuing a new liquor privatization plan that he hopes will be easier to swallow. McDonnell proposes that the state retain control of the wholesale operation and privatize the retail portion to reap a $200 million to $400 million Windfall for transportation, under a plan to be crafted into Legislation for the General Assembly session that starts Wednesday. Annual revenue to the state's general fund from liquor sales - budgeted at $324 million in the Fiscal Year that b...

Apocalypse Not: In a World Without the Tomo-Kahni State Historical Park, Survivors Would Envy the Dead
One of the most entertaining things about the state fiscal crisis is that the longer it goes on, the more clear it becomes how useless State Governments are. As California's walking wounded wander the wasteland and resort to Cannibalism in the wake of Gov. Jerry Brown's proposed "Austerity" Budget, the Sacramento Bee attempts to lay out how the damage will impact each and every state resident. If you're worried that the Golden State might have to axe such essential services as the boards of chi...

When a removal of uncertainty would cause too much uncertainty
Brown also is going after a third business benefit. He wants to raise $1 billion by ending a Corporate Tax break approved by state lawmakers in early 2009. The Legislation, which took effect this month, allows multistate and multinational corporations that operate in California to choose each year between two methods of calculating their state income taxes, whichever results in the lower payment. Instead, Brown wants to require that all companies pay taxes based solely on their sales in Californ...

Nearly 1,400 state workers apply for Md. buyout
Nearly 1,400 Maryland State Employees have applied for a voluntary buyout program, according to Gov. Martin O'Malley's office. O'Malley invited state workers last month to participate in the "voluntary separation program" as part of a strategy to whittle down a looming Budget shortfall of about $1.3 billion. As of last week's deadline, 1,395 employees had filed an application. Workers have until the end of the week to change their minds. The number of employees filing is shy of a goal of 1,500 f...

Brown strips cell phones from state employees
(01-11) 11:52 PST Sacramento -- Gov. Jerry Brown issued his first Executive Order Tuesday, taking aim at a technology that wasn't around the last time he was the state's Top Official: cell phones. The Governor ordered state agency and department heads to collect half of the approximately 96,000 state-issued cell phones currently in Public Employees' hands, a move he said will save California at least $20 million a year. Each cell phone costs an average of $36 a month, he added. "It is diffic...

Job bias claims set new record on disability surge
Federal job bias complaints climbed to record levels last year, led by a surge in workers claiming Discrimination based on Disability. The Equal Employment Opportunity Commission says charges of disability Discrimination rose by about 17 percent to 25,165 claims. Overall, the agency received nearly 100,000 claims during the 2010 Fiscal Year, a 7 percent increase and the highest number in its 45-year history. The spike in disability claims began in the months after Congress approved changes to th...

Job bias claims set new record on disability surge
WASHINGTON — Federal job bias complaints climbed to record levels last year, led by a surge in workers claiming Discrimination based on Disability. The Equal Employment Opportunity Commission says charges of disability Discrimination rose by about 17 percent to 25,165 claims. Overall, the agency received nearly 100,000 claims during the 2010 Fiscal Year, a 7 percent increase and the highest number in its 45-year history. The spike in disability claims began in the months after Congress a...

Bringing Balance to Public Benefits
This comparison shows the inequity between Public Sector and private-sector employees for overall compensation. There’s a way to save Michigan Taxpayers $5.7 billion without cutting a single program, eliminating any government job or touching public wages. That’s more than enough to balance the state’s Budget, Repeal the Michigan Business Tax, fix Michigan’s roads and still have money left over. Michigan can do all this through government employee perks parity. Compensat...

Detroit meets audit deadline for first time since 1997
But the city's audit, sent to the state Monday, shows Detroit may be turning a corner as Mayor Dave Bing continues to shrink the Deficit and help attract big Federal Grants. The audit, for the Fiscal Year ending June 30, 2010, shows the city is making strong progress toward downsizing the government and getting money for Mass Transit, road improvements and Job Creation. "Although the city's current economic condition is poor, the future outlook for rec...

Job bias claims set new record on disability surge
WASHINGTON—Federal job bias complaints climbed to record levels last year, led by a surge in workers claiming Discrimination based on Disability. The Equal Employment Opportunity Commission says charges of disability Discrimination rose by about 17 percent to 25,165 claims. Overall, the agency received nearly 100,000 claims during the 2010 Fiscal Year, a 7 percent increase and the highest number in its 45-year history. The spike in disability claims began in the months after Congress appr...

Public Pension and Finance news round Public Pension and Finance roundup 11Jan2011up 11Jan2011
It’s time to balance that Budget! An extended sports metaphor applied to Public Pensions. A Hail Mary pass ain’t going to fix this one. Who is the Patron Saint of public Pensions? There should be one, as a miracle is needed to keep some unchanged. Robert Samuelson frets that these cushy benefits for Boomers will suck resources from the younger generations and thus recommends cutting Retiree health benefits since the pension benefits are legally untouchable. Oh, Robert. Rest your wea...