Entries by VREG Editors

Grand Jury Exposes City Pension Out of Control

THE FLEECING OF VENTURA On July 26th the Ventura County Star published an article about the deplorable conditions of the public pension plans in Ventura.   The Ventura Grand Jury labeled these city pension plans as headed for disaster — an out of control cost [They actually said “uncontrollable cost”].  To see how out of control […]

Failed Tax Initiatives Force California To Look For Money Elsewhere

  THE FAILED TAX INITIATIVES [WHAT IT MEANS FOR VENTURA] California voters sent a message in the last election about a state government out of control, and out of touch. By rejecting the political establishment’s $16 billion in higher taxes, spending gimmickry and more borrowing, the voters got it right.  They are willing to accept […]

The Ghost of No Money Haunts Pensions and Cemetery Park

THE SPECTRE OF BANKRUPTCY [T.E.A. PARTY ANYONE?] In the August 2008 edition of this newsletter, we suggested that Ventura “may” be following the missteps of the City of Vallejo right into bankruptcy court. After you read this you will realize that our unfunded pension debt and contractual obligations are staggering.  We as a community owe […]

No New Tax Will Make Up for Lost Investments and Bad Management

THE VENTURA BUDGET CRUNCH [SEND IN THE CLOWNS] On January 24, 2009, at 8am the City of Ventura held a special meeting at the Police/ Fire Department community room with the full City Council to discuss the city budget.  This  “public hearing” was on a Saturday and was not televised. The usual coterie was present.  […]