Thursday, December 10, 2015

Murky Water, Hedge Funds, and No Public Safety Committee Meeting Tonight

Run.
The post Dr. Hélène Baribeau era has now begun here in Sierra Madre, and the City's vaunted Water Department is today embarking on a new strategy designed to take the yellow out of the Sierra Madre mix. This time it apparently has something to do with dumping MWD water on the city's spreading grounds, letting it permeate into the aquifers, and thus be reborn as something both refreshing and crystal clear.

We all have our dreams. And at least it keeps all of the usual earnest souls busy until El Nino arrives and turns the city's current problems into something quite different. FEMA is saying we should all buy flood insurance.

The word has now come down that this process (so to speak) has begun. And what better way to let people know than with a helpful press release? Here is how that item was regurgitated on the always officiously newsy Pasadena Now website (link).


Good luck with that!

Bloomberg: Hedge Funds Leave U.S. Pensions With Little to Show for the Fees

If you are among those who are wondering why Sierra Madre's CalPERS expenses have ballooned to $1.4 million this fiscal year, and where exactly all that money is supposed to come from, then you are hardly alone. It isn't a huge crowd that worries about this kind of stuff mind you, but there are a few.

One reason for such large costs being CalPERS, which supposedly invests a lot of this money in hopes of creating a bumping big public worker retirement largess out of its Wall Street gains, didn't do so well last year. Or the year before that, either. And rather than accept any responsibility for these losses, instead expects all of the poor cities being held captive to pick up the tab.

There is much more to this, of course. There usually is. And according to Bloomberg, it might be the reliance of big government pension organizations such as CalPERS on hedge funds. Which had promised big returns in the past, but are no longer doing very well. Here is that bad news.


The rest of this grim news can be found here. Be prepared to dig deep in your pockets for Officer Potato Salad.

No Public Safety Committee Meeting Tonight?

Can you sense my disappointment? Apparently this one was pushed to sometime in January a while ago. But don't tell the City of Sierra Madre website that.


People are just going to have to find something else to do. Or hold out for Bingo.

sierramadretattler.blogspot.com

35 comments:

  1. Just think, mayor sherriff jobns cslpers expenses could reach 2 million dollars plus a year. If that so, the UUT tax could be 25% in the near future to feed this Machine. Vote to Repeal All ut taxes!

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    Replies
    1. The UUT should probably be renamed the CalPERS tax because that is where much of it is going to go.

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    2. I'm sorry but I really don't care one iota regarding the pensions of the public sector employees - it's a ponzi scheme requiring new taxes and we are paying so some yahoo can retire at 55 or 62 and receive 80% salary forever?

      yeah right

      CalPERS SUCKS

      according the SMPD, once they posted a banner "SIERRA MADRE SUCKS"

      payback - I'm voting NO on the UUT, yes on the Sheriff's option and whatever else John Buchanan and his crowd has lied to us about, including the City Manager and the local newspaper

      Delete
  2. So some bad CalPERS hedge fund investments are costing the taxpayers of Sierra Madre an additional $400,000 this year? What a world we live in.

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    Replies
    1. can't we instruct our Council NOT to pay it, force CalPERS to sue us and receive what?

      they can't make us pay them

      CalPERS needs to get align with the private sector pension systems or otherwise they can all kiss my rear you know what

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  3. Hope the water thing works.

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    Replies
    1. I am still confused about the whole "percolate" thing. How would that MWD water get through how many feet of hard dry dirt and into the wells? How much is lost along the way? Anybody know anything about this?

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    2. I prefer drip or French press over percolated.

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    3. A Mr. Coffee bought at Wal*Mart for $18.99 is good enough for me, pal.

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    4. Too many people want instant.

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    5. Anon@7:02 If you enjoy Mr. Coffee or instant you will love Beantowns coffee,bub.

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    6. Starbucks sells arabica coffee.

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    7. What I love about this plan is that no one really seems to know how long it'll take the MWD water to percolate down to the wells. A month, a year, no one is saying.

      But this is the plan? Yikes.

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    8. I think Bruce and Elaine have known all along that there wasn't much that could be done. They just did these things so it appeared that they were working on fixing the yellow water problem. The strategy was always to wait for the rains.

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    9. Coffee snobs unite.

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  4. I'm sure of one thing with the water plan it will fill Arcadias' wells. Hope we can capture some of the water as it rushes towards Arcadia.

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  5. Obviously correct.
    This must surely be the last flailing hope of Inman ?Please ask this fool:
    For every 1000 gallons of expensive, treated MWD drinking water that we dump on the City Settling Ponds, how many gallons will reach Sierra Madre faucets ?
    Right, he has no clue about the efficiency,efficacy ,the cost,the alternatives, the chemistry. He is just bungling his way to his Platinum Pension -all at our expense.
    Please give him is damn pension and get him and Chimino out of the way so we can hire someone who actually knows what they are doing!

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  6. So, untold dollars poured into expensive filtration systems and the ultimate answer is to dump MWD water into a hole and hope a natural process as old as the continent can clean up a man made mess. It is sad when one stops to think about it.

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    Replies
    1. Reverse Osmosis for every home is an alternative.
      An effective,good quality, domestic R.O. system is $300-$500 plus about the same for installation.You'll spend another $200/yr in filter maintenance.
      The R.O. process uses at least 3 gallons of water to produce I gallon of drinking water. So there is a lot of waste water generated. Not good in our situation.
      This is just one of the costs of having an incompetent Director of Public Works.

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    2. R.O. wastes a ton or water. Something like 5-10 quarts of water wasted to squeeze out 1 quart of purified water. Don't do it.

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    3. Knee deep in the big muddy.

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  7. If the stock market goes down and my retirement fund looses money, I am out of luck. My employer does NOT make up the difference. Why should the tax payers i.e. Employers make up the difference for their bad investments.

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    Replies
    1. Sorry, that's the way Gov. Brown wanted it. A guarantee which leaves the taxpayers holding the bag.

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    2. Insulating Public Employees from the realities of life is sure an expensive business.

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    3. City Hall is a hothouse for special things.

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    4. Anyone going to the Public Safety Committee meeting tonight?

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    5. I'm not. Mostly because it isn't taking place. But if it was, I'd be sure not to be there.

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  8. Run do not walk to the nearest voting booth or fill out your vote by mail ballot as soon as it arrives in your mail box to correct the short coming found in Sierra Madre city hall.

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  9. 8.54 is the most intelligent post.

    As a civil engineer states, Sierra Madre is built on a hillside, water in the earth runs downhill to Arcadia and is trapped in a water reservoir underground.

    Think of it this way, the community of Sierra Madre does not have a water reservoir underneath our city like Arcadia, Sierra Madre has a stack of coffee saucers which holds and traps a limited supply of water to be pumped from Sierra Madre water pumps, if the water quits flowing from our mountains to the those Sierra Madre coffee saucers, we no longer have water to pump, but Arcadia does.

    THATS WHY, the city of Sierra Madre needs to get off its _ss and acquire Sierra Madre property on the north side of Orange Grove, next to Arcadia's Fire Department / next to Arcadia's 3 Hugh water wells / and Arcadias above ground water storage reservoir and pump water for Sierra Madre residents use!

    I have shared this story with city council and public works multiple times.

    Our city hall has continued to raise our water rates & other water cost multiple times over the years and promised to improve our water infrastructure. City Hall needs to honor its promise and quit using the water department cash cows monies (the Water & Sewer Enterprise monies) for payment of Pensions, health benefits which fail to benefit the taxpayer!

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    Replies
    1. I agree. This is the latest Inman flimflam. Pray for rain.

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  10. My husband thinks we should deduct the cost of our bottled water from our water bill. Not such a bad idea. I am so tired of seeing yellow water. I'm not even brushing my teeth with it - using bottled water for that, too. Ugh! How can we continue to let Arcadia take our water?

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  11. I have a bad feeling about this.

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  12. Had a RO system, took it out, got full refund at Costco. Water tasted flat. The waste ratio is about 3 gals. of waste salty by-product water for every gal of drinkable water. Can't even use the waste on your plants. If you like the taste of RO water then it is too bad all the houses couldn't be retrofitted for the RO waste water to go to a reservoir for toilet flushing and showering. Don't know how it would work in the laundry, probably ok in the dishwasher. Very complicated water routing ideas but this will be our future.

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    Replies
    1. The R.O. taste problem is solved by the latest 6 stage systems that restore alkalinity+minerals.
      The wastage problem remains insoluble.
      At least the lead and chloramine is removed.
      But woops we're going back to chlorine -but only when we have paid for enough water to fill the Arcadia aquifer brim full. Very generous for Inman to do this.Is he paid by Arcadia to steal our water for them?

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  13. East Raymond Basin, shared between Sierra Madre and Arcadia, is a very messy idea. One explanation at a CC meeting was that consider a swimming pool with Sierra Madre's straw in the shallow end and Arcadia's in the deep end. Our end will always go dryer sooner. Always!

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