UC Regents

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Looks like the Regents Will Have to Continue to Grin and Bear It

Byuclafaculty

…The Democratic governor said of his own time in office, “I’m working pretty darn hard, and yet I can’t spend a lot of time on getting into the intricacies of government. So that, over the next year, that’s something that interests me, to try to understand … to get a real world feel of what’s under my responsibility, and I don’t think many governors have ever done that.” Brown said doing so will allow him to “think and imagine and come up with things.” Full article at http://blogs.sacbee.com/capitolalertlatest/2013/10/jerry-brown-seeking-real-world-feel-of-government.html

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Brown Joins Harvard in Rejecting Fossil Fuel Divestment

Byuclafaculty

We have noted in previous posts that there is a student group that has been using the public comment period at the Regents to push for pension and other fund divestment of fossil fuels. (The demand involves both extraction industries and some utilities.)  It is part of a national student movement.  If you scroll back to our links to Regents meetings, you will be able to hear those demands. Recently, as we have noted, Harvard rejected the demand.  See http://www.insidehighered.com/news/2013/10/04/harvard-rejects-call-divest-fossil-fuels.  Today, Inside Higher Ed is reporting that Brown University has also rejected it.  See http://www.insidehighered.com/quicktakes/2013/10/28/brown-u-rejects-call-sell-holdings-coal-companies. Given the current anti-pension initiative…

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And still more on the pension cabalistas…

Byuclafaculty

From Salon.com:  [excerpt]  10-23-13 Less than a year ago, the Wall Street Journal alerted its national readership to what was happening in the tiny state of Rhode Island. In a story headlined “Small State Gets Big Pension Push,” the paper noted that the state’s “rollback of public-employee retirement benefits has turned (it) into a national battleground over pensions.” With the help of billionaire former Enron trader John Arnold and his partnership with the Pew Charitable Trusts, conservative ideologues and Wall Street profiteers who engineered Rhode Island’s big pension cuts were looking to export those “reforms” to other states. Now, after…

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Affirmative Action Case at Supreme Court

Byuclafaculty

Blog readers will undoubtedly know that the U.S. Supreme Court is looking at the constitutionality of  Michigan ballot proposition that bans affirmative action in, among other things, public university admissions.  The Michigan proposition was a copy of California’s Prop 209.  Were the Michigan proposition voided, the same would likely happen to Prop 209.  Most observers seem to expect the court to uphold the Michigan proposition.  Prop 209 followed the UC Regents’ action banning affirmative action in admissions.  (The Regents later repealed their ban after 209 was enacted on the grounds that it was redundant.) Inside Higher Ed has an article…

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Curtain Lifted on Pension Initiative

Byuclafaculty

Prior posts have alerted readers of this blog to a forthcoming public pension initiative.  The group that has been working on the initiative seems to have money for a campaign.  It takes $1-$2 million for signature gathering firms to get an initiative on the ballot.  If an initiative is controversial, it may take loads more money for TV advertising to mount a campaign. The initiative explicitly covers UC.  It has some ambiguous elements which we hope to unscramble.  Government employers are given the power to modify pensions and retiree health plans going forward for incumbent employees.  Note that the 2010…

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Public Pension Drumbeat Continues. UC Needs to Begin Planning for Staying Out of Planned Initiative

Byuclafaculty

On Saturday, we alerted blog readers to the coordinated campaign to get some kind of public pension “reform” initiative on the California ballot.  At issue on Saturday was a Stanford-Hoover MOOC, ostensibly about retirement investing, but which culminates in a program on public pensions. The pension drumbeat continues, at this point by articles on the issue. For example, a recent op-ed in the San Diego Union-Tribune goes on about various municipal bankruptcies but contains a suggestion for a constitutional amendment in California.  The legislature is not about to put such an amendment on the ballot so it could only by…

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A different kind of student sit-in and a modest proposal

Byuclafaculty

It may not be quite so much fun. From the Daily Bruin today: A total of three students will be able to sit on committees during the UC Board of Regents meeting next month, which some say is still not enough to fully represent the student voice. The newest student to join the discussion, Vanessa Garcia of UC San Diego, will attend the meeting as a student observer, a new position established by UC officials after receiving a request from the University of California Student Association, an activist coalition of UC students. Regents members and UC administrators hold committee meetings…

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Fossils

Byuclafaculty

If you have listened to the public comment sessions at Regents meetings posted on this blog, you will have heard statements from a student group pushing the Regents to divest its pension and other portfolios from “fossil fuels.”  By this demand, the group – which is part of a national movement – appears to mean not just oil-coal-gas producers but also at least some major utilities.  We have noted that there are problems with using other peoples’ money to favor or disfavor particular political/social causes, partly involving the esoteric elements of finance and returns to the portfolio, but also the…

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Tension Over Pension

Byuclafaculty

From the LA Times: The already tense labor relations between the UC system and the union that represents about 8,300 custodians, gardeners and food service workers has taken a turn for the worse. After deadlocked negotiations, UC this week imposed terms that will require those workers to contribute 6.5% of their pay to retirement plans, up from the current 5%, while the university’s contribution jumps to 12% from 10%. UC says such changes are necessary to keep the pension system healthy and that most other UC employees already have agreed to the changes. In addition, newly hired workers will receive…

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The Regents & Napolitano: How Was the Match Made?

Byuclafaculty

The ongoing debate about the Regents’ selection of Janet Napolitano is still going on, according to the LA Times: The high-profile and surprising choice of former U.S. Homeland Security Secretary Janet Napolitano to head the UC system has fueled criticism over the secret selection process, echoing debates around the country about how higher-education leaders are chosen. Supporters of a more open method say that better decisions are made when three or four finalists for a university presidency or chancellorship are formally identified to the public. At that point, faculty and students could have a chance to meet them before a…