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Sacramento Bee Columnist Daniel Weintraub
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« August 06, 2004 | | August 08, 2004 »August 07, 2004
Local pension fallout
Interesting inter-generational debate among Orange County public employees over how to finance a generous new pension plan. The older workers love it, because they get a big benefit boost and don't have to pay much more before retiring. The younger workers stuck with the tab aren't so thrilled. The story is in the LA Times.
Posted by dweintraub at 08:50 AM
Vegas ventures
Last week Gov. Schwarzenegger made a big show of unveiling a billboard in Las Vegas designed to promote California as a place to do business. But the Las Vegas Business Press has a piece suggesting the gambling mecca's leaders aren't exactly in a panic.
Excerpt:
Of the 60 new companies that relocated to Clark County bringing 1,877 jobs paying an average wage of $22.80 per hour during the Nevada Development Authority's (NDA) last fiscal year, 32 came from California, a 68.4 percent increase over the 19 that came from California the year before.
Gov. Schwarzenegger was diplomatic, though, complimenting Gov. Kenny Guinn's administration and glossing over the rivalry between the two states.
"This is not about taking jobs away from Nevada," he says. "It is all about bringing jobs to California."
Still, the timing illustrates the difficulty of California's predicament. The day before the launch of the ad campaign, construction materials manufacturer Quickflash Weatherproofing from Huntington Beach announced that it would be relocating to Las Vegas and the city of Henderson passed zoning changes to accommodate the relocation of intermodal distribution company Pacer Stacktrain's corporate headquarters from the Oakland area, bringing 350 job with it.
In addition, three California companies had contacted the NDA to inquire about relocating to Nevada the same day Schwarzenegger launched the campaign.
Hat tip: Prestopundit.
Posted by dweintraub at 08:29 AM
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