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Good News: SDCERS Discussing Lowering Interest Rate on DROP Account
In the past BillyB/JohnnyV says it’s not over until all appeals are exhausted, but what happens when or if we get a new City Attorney. Can he unilaterally end it? ============================== Who's BBH????? Yes, if Goldsmith is elected he said he will end the pension lawsuit-and he would have the power to as long as the Clowncil argeed. I don't think he could end it without the approval of Clowncil. Since the case is already at the Court of Appeals or CA Supreme Court (I don't know which one it is at) it would be stupid to stop now, until there is a ruling, because the ruling could very easily go in favor of the City.— October 24, 2008 8:39 a.m.
Good News: SDCERS Discussing Lowering Interest Rate on DROP Account
You just can't get over this $200K thing, can you? They make medication for that, you know. Since they've been publishing the stats, there have been something like 3 firefighters that have made over $200K in cash and maybe 30 that have done it INCLUDING benefits. ============================================= I'm OK, I am back on the medication this morning JF, now on to your argument that FF's don't make $200K INCLUDING benefits. The pension benefit alone is equal to 60% of base salary, the other current benefits such as vacation time, sick time, comp time, holiday pay and current healthcare is worth at least 25% of base pay, now add in retiree healthcare at another $15K per year and you are easily at %200K-NOT counting overtime. You even prove this fact up in your very next post; Paul, One other thing. The numbers I posted above show how money going out of retirement in DROP vs. no DROP are about the same. But what you haven't taken into account is that the city ***saves a ton by not having to pay retirement benefits*** on people still in the employ of the city. That's a ***huge savings to the city.*** Oh, and BTW, DROP also keeps an able bodied person off the employment rolls and on social services while the DROP welfare queen recipient is working that scam, another BIG reason to end it in addtion to the huge costs it has with double dipping.— October 24, 2008 8:13 a.m.
San Diego tourism weakens
By ufmbre By fumber =================== Fumbler, how many accoutns have you registered????? It is hard enough reading just one of you stupid accounts, but now two??? Arggggggggghhhhh!!!!— October 23, 2008 10:46 p.m.
San Diego tourism weakens
When 1% owns over 92% of everything, something is wrong. ======================================== Wow, this is actually quoted in David Cay Johnston's book "Perfectly Legal" and I just read this very statistic tonight. . . . . . The upper 1 percent owns 42 percent of the financial assets (stocks, bonds, cash equivalents). It's not as high as you say, but 42 percent is outrageous. Best, Don Bauder ====================================== I think the 92% covers all assets, including real estate. Johnstone says the top 1% owns 50% of financial assets, don't know how accurate these numbers are.— October 23, 2008 10:41 p.m.
San Diego tourism weakens
And, fumber, what is a spooge? ===================================== We need to start putting some posters in Time Out for this nonsense. http://www.urbandictionary.com/define.php?term=sp…— October 23, 2008 10:31 p.m.
Good News: SDCERS Discussing Lowering Interest Rate on DROP Account
Here's the fault in Johnny's logic. The city doesn't have extra budgeted positions just laying around waiting for the infirm to occupy. =========================================== Well then, we will have to fix that won't we. Like I said, I will find some work for able bodied FF's to do between the ages of 50 and 65. If construction workers can work to age 65, in a job 100 times more physical, then FF's can. . . . . Austin is a much smaller city than San Diego, yet they have more support staff in their FD than SD does. ============================================== Austin doesn't compensate FF's at $200K per year either JF, if they are compensated at 50% of $200K they can hire twice as many FF's. Simple math JF-more money compensated to FF's, the less FF's you will have. So we can have 10 FF's compensated at $100K or 5 at $200K-which model gives higher staffing levels???— October 23, 2008 10:27 p.m.
Good News: SDCERS Discussing Lowering Interest Rate on DROP Account
There's one little problem with the study Johnny quoted. It's from German firefighters -- 50 years ago. ============================= It was not from 50 years ago-it is a 50 year long study-in research this is known as a "longitudinal" study and is by FAR the most accurate method for measurement. Yes, the study is from Europe-is fighting fires done differently in Europe JF?? I mean do they use water pistols instead of fire hoses to fight fires?????— October 23, 2008 10:21 p.m.
Mea Culpas by Greenspan, Cox Are Historic; Derivatives Regulation Will Help, but Will Be No Panacea
"The essence of white collar fraud is contrived complexity" is original with yours truly -- several years ago. ======================================== I think we should tattoo your insightful observation on Mr. Bubble’s forehead. BTW, I liked David Cay Johnston's book "Free Lunch" so much I bought his older book, 2003's "Prefectly Legal". He really dives into phony tax avoidance schemes used by large corps and wealthy individuals, and just like you Don-he lays the basis for these schemes on contrived complexity.— October 23, 2008 10:16 p.m.
According to Rumors, U-T Has Been Sold. But Nobody Knows to Whom, and It May Be a Canard
I have suspicions that Larry Flynt, owner of Hustler Magazine, may wind up owning the U-T. ===================================== Flynt could run it better-and I am serious. . . . . . Flynt would be awesome. ===================================== The eye candy would be even more awesome.— October 23, 2008 10:08 p.m.
CalPERS Down 19 Percent Since Fiscal Year Began; Employers May Have To Boost Contributions, Increasing Municipalities' Chaos
More good news; Rep. George Miller (D-Martinez) said the government agency that guarantees pension plans for millions of Americans -- the Pension Benefit Guaranty Corp. -- lost at least $3 billion in the last year and had investments in mortgage-backed securities— October 23, 2008 4:36 p.m.