Author: admin

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    Yudof Announces Merit Pay Increase Plan

    Byadmin

    President Yudof has issued a letter today indicating there will be merit-based pay raises for faculty “at all levels” of 3% and non-represented (nonunion) staff earning up to $200,000. It is unclear exactly what this means for faculty (who get step and promotion advances). The letter is at http://www.scribd.com/doc/62519367/Pres-Yudof-Letter-081711 A Sacramento Bee description of the letter and some background is at http://blogs.sacbee.com/capitolalertlatest/2011/08/university-of-california-employees-may-get-raises-mark-yudof.html Clearly, a golden future awaits: Update: There is a LA Times version of this story at http://www.latimes.com/health/la-me-uc-pay-20110818,0,298613.story But it does not make the matter any clearer. Update: The San Francisco Chronicle version tends to put a negative spin…

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    Wilshire-Gayley Hotel Plan Reported to be Moving Right Along

    Byadmin

    As previous posts on this blog have noted, a local developer bought and cleared the old Hollywood video store site at the corner of Wilshire and Gayley with plans to open a new Westwood hotel. LAObserved reported yesterday that the Wilshire-Gayley plan is moving along, with an architect hired to deal with the odd triangular shape of the site. (There is a further link in the LAObserved article to a more detailed piece on the proposed hotel.) You can find the article at http://www.laobserved.com/archive/2011/08/westwood_village_hotel_wo.php Readers of this blog will also know that UCLA has been proposing to build a 280-room…

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    UCLA History: Murphy

    Byadmin

    The photo at the top is of Franklin Murphy, chancellor of UCLA in the 1960s until his resignation in 1968 to become chair of Times-Mirror. At the bottom is Murphy, former President Eisenhower, and UC president Clark Kerr. The two photos are reproduced from Margaret Leslie Davis, The Culture Broker: Franklin D. Murphy and the Transformation of Los Angeles (UC Press, 2007). The opening chapters of the book tell of Murphy’s recruitment from the U of Kansas – which he headed – by the downtown business movers and shakers of LA to be chancellor of UCLA. At the time, there…

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    Don’t Panic

    Byadmin

    Some readers of yesterday’s New York Times who read the article about municipalities reneging on pensions may panic, particularly those readers close to retirement. There is a temptation to go for the lump-sum cashout in a panic, i.e., get the money while the getting is good. Before you do, however, it is important to note that states such as California and state agencies such as UC, do not have a legal means to declare bankruptcy. There is no legal way out of their pension obligations. Using the lump-sum option will eliminate your access to retiree health care. It is true…

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    Another Public Pension Report

    Byadmin

    The California Foundation for Fiscal Responsibility – the group that is pushing public pension initiatives in California – has released another report. There is little mention of UC although the UC pension appears on one chart as 73% funded. Most of the report is aimed at CalPERS and CalSTRS. As in the past, the new report of this group aims at greater respectability than some of the hit pieces that have been previously issued on pensions. For example, it reports that public workers in California on a total compensation basis (wages + benefits) are – adjusted for occupations – slightly…

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    LAO Report on June Budget Deal

    Byadmin

    The Legislative Analyst’s Office has prepared a summary of last June’s budget deal. It includes an analysis of higher ed funding and all other major programs. Also described is the trigger mechanism that could lead to more cuts in the UC budget should forecast revenues not arrive as expected. You can find the report at: http://lao.ca.gov/reports/2011/bud/spend_plan/spend_plan_081211.aspx

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    We all make mistakes

    Byadmin

    UC Berkeley grad spots $2 trillion S&P debt downgrade error Blog from San Francisco Chronicle 8/11/11 It took the sharp eye and calculating mind of John Bellows, a UC Berkeley 2009 Economics Ph.D grad, to catch the $2 trillion error in Standard & Poor’s credit rating that has roiled the global markets since it was issued Aug. 5. Bellows noted that S&P based its judgment on a projection that the U.S. debt as a share of the nation’s gross domestic product would rise rapidly over the next 10 years. The error, which S&P acknowledged in private conversations with the Treasury…