On January 28, 2018, the Dow Jones stock index closed at a record high of 28,610. Nine days later, on February 6, the Dow index hit an intraday low of 24,198, a drop of over 15 percent. Since then the Dow index has recovered somewhat, along with other stock indexes and the underlying stocks around […]
About Edward Ring
Edward Ring is a Contributing Editor and Senior Fellow with the California Policy Center.
Entries by Edward Ring
In most cities and counties in California, “OPEB” (other post-employment benefit) costs are a growing expense. While OPEB costs do not amount to nearly as much as costs for pensions, they are significant, and like pension costs, they are increasing every year. And unlike pensions, cities and counties usually have more flexibility to modify OPEB […]
The U.S. Census Bureau’s most recent statistics on poverty find that California has the highest rate of poverty in the nation. That study tracks with a new Truth in Accounting report that ranks California near the bottom – 43rd in the nation – for its finances. California earned a grade of F becasue of its […]
What’s the difference between “communications” and a political campaign? The difference should be obvious. When you engage in a political campaign, you are explicitly supporting a particular candidate or ballot measure. When you are “communicating,” you are compelled to limit yourself to presenting objective facts and information to the public; you cannot take a stand […]
The following set of five financial graphics are offered as additional templates (ref. previous post “Graphics to Explain the Pension Crisis to Colleagues and Constituents“) that can be prepared and used by any local elected official, journalist, or citizen activist who wants to explain to others how pension obligations affect the financial health of their […]
The following financial graphics can be prepared and used by any local elected official, journalist, or citizen activist who wants to explain to others how pension obligations affect the financial health of their city, county, or other public agency. While these tables depict data for the City of San Jose, the format they use can […]
The following list of questions, compiled by the Reason Foundation, offers the opportunity to develop an in-depth understanding of any public agency pension plan. This list can be useful to any local elected official, journalist, or citizen activist who wants to know much more about how pension obligations affect the financial health of their city, […]
Across America there are harrowing tales of public agencies using private firms to enforce laws and ordinances. From the troubling IRS privatizing collections of past-due taxes, to the more sinister “alternatives to incarceration” industry, or the terrifying “ex-parte guardianship” scam, exploitative public/private partnerships abound. Often the potential for corruption and abuse is huge, as a supposedly […]
How would you feel if someone told you they’d just increased your retirement benefit by 50%, took five years off the age you’d have to be when you could retire and collect this benefit, and then told you there would be almost no additional cost because the stock market was roaring? In California, that’s what […]
“A public employer shall provide all public employees an orientation and shall permit the exclusive representative, if applicable, to participate.” – Excerpt from California State Assembly Bill AB 52, December 2016 In plain English, AB 52 requires every local government agency in California to bring union representatives into contact with every new hire, to “allow […]
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