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
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.