Government pensions should subsidize arena

Published: Monday, Mar. 10, 2014 - 2:03 pm
Last Modified: Monday, Mar. 10, 2014 - 3:03 pm

Re "Arena foes stretch out legal fight" (Marcos Breton, March 9): I'd like to ask Marcos Breton why state, county and local employees and retirees should subsidize a professional basketball arena for Sacramento by selling the Macy's site at a discount?

They answer is they shouldn't.

The California Public Employees' Retirement System has a fiduciary responsibility to its members and California taxpayers to maximize its returns on investments. That's what CalPERS is doing, so retirees, widows and orphans get the small monthly checks they depend on, and the amount of tax money spent on supporting the retirement and survivors system is kept as low as possible.

Breton is wrong on blight, too. The city exacerbated the blight near Macy's by forcing good, locally-owned stores like Joe Sun's Uniforms & Clothes for the Workingman out-of-business presumably for rapid redevelopment and then leaving the storefronts across from Saint Rose of Lima Park vacant for years. Shameful. -- Clay Brandow, Davis

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