Entries by VREG Editors

Pension Spiking Approved in Police Retirement Contract

COUNCIL APPROVES PENSION SPIKING [Fleecing Time – Again!] At the Ventura City Council meeting on Monday, May 16, 2011, on a vote of 5 to 2 the Council approved to an employment contract amendment to the Ventura Police Officers Association (VPOA) and Ventura Police Management Association (VPMA) employment contracts.  Mayor Fulton and Councilmen Tracy, Brennan […]

Time To Consider A Volunteer Fire Department For Ventura

PUBLIC EMPLOYEE PENSION TRANSPARENCY ACT We previously reported that there is a bill is currently pending in Congress (HR567) and the Senate (S347) encouraging governments at all levels to switch from a “defined benefit” plan to a “defined contribution” plan by requiring public entities to reveal to the voters the true magnitude of the unfunded […]

CALPERS Increases on City Out of Control

HMS TITANIC [Moving Deck Chairs to Avoid a Disaster over Pensions] The story of the sinking of the HMS Titanic and the causes are known to all.  Had the ship not been traveling too fast, or had the officer on the bridge ordered a change of course earlier the collision with the iceberg  would not […]

Failed Investment, Failed Policies Make Ventura Like Greece

CALIFORNIA: AMERICAN GREECE Tim Cavanaugh of an on-line news company called REASON has written a good analysis of the dilemma facing California. He writes: “What do Europe’s most bankrupt state and America’s most bankrupt united state have in common, aside from being bankrupt? In what is undoubtedly a coincidence , noticed only by free-market fundamentalists, […]

Budget and Pension Crises Throughout California Inflict Harm

CALIFORNIA – A FAILED STATE [THE “TERRITORY OF CALIFORNIA”] You can watch the stock market successes, listen to the pundits braying out messages like “we have turned the corner”, but the  reality is that the State of California and the municipalities nationwide, including  the City Ventura, are in trouble. The fortunes of the State of […]