Friday, July 10, 2009

Daily California Watch 2



Illegal Immigrants strangely transform from asset to liability. Hoocoodanode?

California Scheming. When Barrons weighs in it's serious.

Pay Cut for Doctors denied. WSJ.

Finance Director talks turkey. Reuters.

Education Stiffed. marketwatch. Hat tip HomeGnome at CR.


Hah! try to escape? We will go back to the old borders!

6 comments:

Lost Cause said...

First to say that the Treaty of Guadalupe Hidalgo provides for unfettered crossing of the border by the native people.

averagerainfall said...

The "Barrons" link doesn't work -- one too many h's at the front. :-)

Calfornia a.k.a. Upper Mexico: UNDA DA BUS!

Rob Dawg said...

Fixed Barrons.
Added Marketwatch.

Pleather Murse said...

I made my 35% on GM this morning, & got out just before Cramer got on to say how worthless the stock is. Whew.

Peripheral Visionary said...

Thanks for the link to the SacBee article from the previous California implosion update. The comments are priceless; the sense of entitlement is phenomenal.

I say, as a government employee to all other government employees: the first thing to understand about government employment is that every dollar they pay you has to come out of somebody else's pocket, and not voluntarily. Once you understand that, you understand that working for the government is a privilege, not a sacred right. You also understand that government cannot get to be too big or else it will overwhelm the real economy, as it is doing in California.

The state employees are crying over salary cuts, and with good reason. They shouldn't be cutting staff salaries; they should be cutting staff. Government workers don't make all that much for thankless work, which is why when the cuts come, they should start by letting the underperformers go, rather than keeping everybody on staff but cutting everybody's pay.

I work in the Federal government, and if staff cuts were ever to come, I would welcome them. Much better than cutting everyone's pay while underperforming and underqualified people stay on board. Yes, government staff cuts would be heavily politicized, and there would be some people let go who shouldn't and vice versa, but my experience is when managers have any discretion in firing decisions, a significant number of those let go will be underperformers. The State and Federal government are badly overstaffed (in most places, a few exceptions out there), and any cuts should be centered on headcount rather than salary.

sm_landlord said...

Good points, PV.
But smart layoffs in government will probably never happen. Especially if unions are involved. Just look at the teachers for a sad example.

The other thing to keep in mind is that government workers are frequently repurposed as campaign workers. It's not in the interest of the politicians to have a smaller pool of low/no cost campaign workers and organizers available.

For example: Campaign work tied to House bonuses