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SeaWorld stock tanks
"I would not be surprised if it has further to go on the downside." With the announcement of the stock buyback I think the company feels the same way— August 13, 2014 11:56 a.m.
Mayor a No-Show at Second Community Forum
Fire Chief Javier Mainar in the university city meeting suggested without the passage of prop d people will in fact die. I find this very offensive. I hope the voters react the same way.— October 20, 2010 4:02 p.m.
San Diego’s pension fund expects to earn 7.75 percent a year
In reply to #61. Evidently you're either Psychic or understand how history works.— October 17, 2010 4:21 p.m.
San Diego’s pension fund expects to earn 7.75 percent a year
You are correct Don. They went,and are still going,along for the ride. UT this morning endorsed prop D. That was a sure bet. I have a suspicion that this Kabuki dance called prop D was cobbled together at the last minute because the June 30th actuarial snapshot (markets were close to their low) showed a worse picture than had been expected. The pension debt is a death spiral. Averages $359 million average payment over the next 15 years and as you pointed out is based on overly wishful assumptions. The downside potential is far worse than is being discussed. BTW Appreciate the forum— October 17, 2010 9:18 a.m.
San Diego’s pension fund expects to earn 7.75 percent a year
Just what is the "mission" of government anymore? You 30 somethings or younger better get a grip on whats happening in this city. You are being turned into debt slaves and being played by all sides. There are four main players in our civic arena 1. downtown power elite 2. public employee unions and their academic backers 3. political elite (city council/Mayor) 4. ordinary working taxpayers. you should be angry with the first 3 groups and dissapointed in the 4th Currently we have group one that has been able to put forth building a new charger stadium bypassing a public vote yet gaining the ability to use public monies. The second group has been successful in loading the city council with their puppets and pirating the wealth of this city on their altar of wages and benefits. The third group brokers their power and curries favor with either or both of those first two groups. The 4th group unfortunately for the most part are either apathetic, cause oriented, single issue or just plain idiots. it is that misfortune that keeps the first three groups in power in the ever changing world of San Diego politics. Until the fourth group wakes up and realizes the first three groups do not represent their interests nothing will change.— October 16, 2010 11:17 a.m.
Does the D in Prop D stand for "Dash for Cash"?
"According to the pension system's most recent estimates, the city's pension payment went from $154 million last year to $229 million this year, and it's projected to reach $340 million by 2016 and $508 million by 2025" This is based on the assumption of a greater than 7% return and no double dip in the economy. Both those assumptions have a high probability of being false Over the next 15 years....the average pension payment will be $359 million or 32% of the general fund budget. Its a death spiral. Financing it is not a good idea. The reform that is needed is to dump the defined benefit pensions. It places the taxpayer (and our kids) at too great a risk of becoming nothing more than debt slaves to the city pension system. Real reforms are needed. Not more game playing and promises Vote no on D— September 17, 2010 8:32 a.m.