ABC News video clip
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Mod: Word is they are going to have a giant birthday cake there today, and John Shear will be honored in the Winner's Circle. This event will take place right after the 4th race, which is around 2PM.
The sad fate of the City of El Monte
Mod: I received the following e-mail from Robert Fellner of Transparent California. Apparently the City of El Monte is paying some of its employees almost 5 times as much as the median yearly resident income of this very poor city. No wonder they fought so hard to keep from sending in their numbers.
Hey John, the City of El Monte just got us their 2014 data as we were on brink of suing them for noncompliance.
Had they complied with the law and provided the information in time for our release; they'd have received some media coverage.
They are one of the poorest, if not the poorest, city in the State. Median earnings for full-time, year-round WORKING residents: $26,000. I can't even wrap my head around that.
Their police chief, however, cashed in unused leave to boost his total compensation to #1 statewide: $634,000. Their city is police-heavy, pushing average compensation for city workers to: $150,000.
A huge factor is their CalPERS rates for police are soaring to 60%, and will rise to 72% in next 5 years.
As we know, all of this assumed CalPERS produced 7.5% annual returns, if not, rates rise further. Another way to look at this is, if Sierra Madre's police costs rose as much as this did over past 6 years, when the stock market basically tripled, what will happen if market falls?
For the El Monte Transparent California page click here.