Chriss W. Street

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Texas Teachers Follows CalPERS in Dumping Hedge Funds

Last week, Breitbart News noted that Texas public pension plans had the highest asset percentage of any state pension program invested in hedge funds, with one plan at almost a quarter of assets invested. It didn’t take long for Texans to start asking questions--such as why 90% of hedge fund managers are overpaid for the returns they produce. On September 19, the Teacher Retirement System of Texas (TRST), the sixth-largest public pension in America, announced that it is, like California's CalPERS, dumping some hedge funds. Sep 21, 2014 3:24 PM PT

Silicon Valley May Be Liable for Huge Labor Claims

The benefit of a corporation opting for 1099 contractors over W-2 wage-earners is obvious for the employer. It lowers your employment costs, because contract workers aren’t eligible for health benefits, unemployment insurance, worker's compensation, or retirement plans. And contractors also don’t need to be fired if they fail to perform or the company wants to do a mass layoff. Sep 18, 2014 1:39 PM PT

US Jobless Claims Fall, Percentage Receiving Benefits Lowest Since 2006

The number of Americans filing new claims for unemployment benefits fell by more than expected last week, suggesting that a sharp slowdown in reported job growth during the prior month has not derailed the strong trend in employment growth in the U.S. economy. Sep 18, 2014 12:51 PM PT

CalPERS Dumps Hedge Funds: High Fees & Lousy Returns

Once, CalPERS, as an international leader in public sector investments, led public pension plans to embrace hedge fund investing fully. Yet after suffering high fees, lousy returns, and fraud, many of those same plans will follow CalPERS in dumping hedge funds. Sep 17, 2014 8:08 PM PT

Steve Jobs Banned his Children from Using an iPad

Although Steve Jobs is credited as the best technology innovator in the history of Silicon Valley, he was actually an art major in college. Jobs credited his creative talents as the secret sauce in building Apple Computer as the most valuable company in the world. Sep 17, 2014 6:49 PM PT

Silicon Valley Getting Attitude Adjustment over Privacy Concerns

The Silicon Valley tech giants that have been engaging in widespread internet surveillance of their customers’ shopping preferences, general attitudes, and deepest life-style secrets have failed to appreciate the mounting global concern over their record on online privacy and security. Yet after losing tens of billions of dollars in sales and facing government scrutiny, Silicon Valley giants like Apple and Google are only beginning to understand they need a big attitude adjustment to prevent deeper reputational damage to their business model. Sep 17, 2014 3:50 AM PT

EPA Doubles Number of Coal Plant Closings

In the run-up to the “People’s Climate March” scheduled for September 21, the non-partisan U.S, General Accountability Office (GAO) just doubled its estimate for coal plants expected to retired to comply with the Obama Administration’s new Environmental Protection Agency (EPA) over the next decade. Sep 16, 2014 1:06 PM PT

Singles as a Majority of American Households Means New Economic Risks

For the first time in our nation’s history, the majority of American households are run by single-persons, according to the U.S. Census Bureau. From 70.6% in 1970, the percent of married couples has crashed through the 50% level early in the Obama Administration and hit 48.9% in 2012. Sep 16, 2014 11:45 AM PT

Independent Scotland Would Generate $17,217 per Family in Energy Taxes

Of the UK's North Sea energy deposits, 96 percent of oil and 47 percent of gas production are in Scottish waters, according to geographic studies by the University of Aberdeen. Since oil production came on line in the 1970s, the UK has pumped two thirds of the North Sea oil reserves and pocketed over $500 billion in taxes with only $49 billion being allocated to Scotland. An independent Scotland would be energy independent and immediately generate about $17,217 in tax revenue for every Scottish family of four. Sep 16, 2014 3:48 AM PT

Tesla in Nevada? A Win for California, Says Brown

The day after Nevada lawmakers approved a package of tax incentives worth $1,538,000 per job to persuade California based Tesla Motors Inc. to build its Gigafactory battery plant in the state, California Governor Jerry Brown, who is rumored to be preparing a Presidential run, told the Sacramento Bee on Friday that “Nevada’s tax breaks are California’s benefit” if they put electric cars on California roads. Sep 15, 2014 4:54 AM PT

Hollywood Studios Hit With Multi-Billion Dollar Class-Action Labor Suit

The Walt Disney Co., DreamWorks Animation, Digital Domain, Pixar, Lucasfilm and Sony Pictures are among the defendants in a new multi-billion dollar class-action suit contending that Hollywood studios and their vendors conspired to suppress tech workers’ wages through secret “non-poaching” agreements. Sep 15, 2014 4:51 AM PT

America's 2nd Largest Newspaper Chain Tries for Quick Sale

Digital First Media, the New York owner and operator of the nation’s second-largest newspaper chain, announced Friday that it will “evaluate and consider strategic alternatives” that could lead to a quick sale of some or all of the hedge fund-sponsored company. Sep 13, 2014 12:46 PM PT

Genentech's Former CEO and Google to Try Curing Parkinson's Disease

Calico, a company led by former Genetech CEO Art Levinson and backed by Mountain View-based Google Inc. said on September 11th that it had inked a $1.5 billion, 10-year research and commercialization deal with AbbVie Inc. to develop treatments for Parkinson’s and Lou Gehrig's disease, plus treat traumatic brain injury., according to a report by the San Francisco Business Times. Sep 12, 2014 4:49 AM PT

With iPhone 6 Discounting, 'Apple Pay' Better be a Blockbuster

The highly respected Pacific Crest Securities downgraded Apple stock on September 10th, citing stagnant iPhone growth, “lack of compelling features” on the new Apple Watch, and not enough investment “potential for upside (earnings) estimates.” Sep 11, 2014 6:10 PM PT


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