2015, cities across california will go beyond the retirement and requires government employers to pay more than half the time of benefits and it would prohibit government officials from challenging any voter approved state or local ballot measures regarding compensation and retirement benefits. In other words it will create what you might consider a closed benefit system if it isnt approved if after the reinitiative passes and any other vote for defined benefits is not passed by the voters. So on behalf of aciu 101 with pete albert, cochair of the Alameda County committee as well as other members of sf sfers are considering the process for passage next year and it will be bad for all stakeholders in the system, active employees, retired employers and in time to meet the pay will become important in all time and investment has to be change. Its likely the actuarial to the Interest Rate must be lower to drive compensation rates. We want to provide an analysis of the impact of the closed
The year where were overloaded with earnings information, most companies in the s p report this week. Remember that the professionals listen to every Conference Call check every model and do deep dives in each quarter which means that unless they get up at 4 00 a. M. And work until 11 00 p. M. They simply dont know about what should be bought and what shouldnt be, and i have to tell you, thats why a lot of mistakes are made. Thats why i tell you at home to stop, look and listen during these periods. As we try to run the gauntlet created by the cacophony of earnings season. Whats exactly in store for us for the rest of this week. Tomorrows all about apple and ten days ago the company made a major push into china and the worry is the sizeable chunk of buyers may have been margined out of this stock positions in the great crash of china and they migrate to the expense of iphone 6. Not this quarter, since it didnt include the chinese debacle and thats why it is so important not to trade of
Every dollar that a main street business has to invest in lawyers and accountants to explain this gibberish is taken out of workers wages and capital investment. Is it any wonder that our economy is limping along at 2 Economic Growth, 47 below is an norm . Third and perhaps most ominously doddfrank has made as less free. We are losing not only are Economic Freedom we are losing our Political Freedom as well. Today americans are less and less governed by the rule of law and more and more governed by the discretion of regulators. It is osha not congress that governed the Workplace Safety. It is epa that governs our air quality. It is hhs now not congress the covers over health care and most alarmingly to Economic Opportunity and economic liberty it is not a bureaucratic progeny of doddfrank the rules abroad Financial Markets. John macy was most present wind up quote law class that provides people with the rules. Doddfrank is not directed at people. Its an outline directed at bureaucrats
Blogger undeniably some bad apples, this is not a case about bad people doing bad things. The majority of folks and nospace are trying to do the right thing every day. Enough of the problem is good people operating within a structurally flawed system. A market that sees personal financial interest of the advisor in the firm all too frequently missed the links in the best interest of the country. The result is what we saw happen. Our goal is straightforward to align the best interest of the customer what does that the advisor in the firm. The proposed rule in the product of a significant amount of average to stakeholders. I appreciate support from so many in the industry. People are trying moynihan, ceo of bank of america is bank of america is it doing what is in the best interest for customers is absolutely the right thing to do. Founder of vanguard very strong supporter will hear from the witness sure they have played in this space every day as a fiduciary work in the small investors
This is appointing to how things open in a half hour. Down, way down. This is Dow Jones Industrial average futures. Its a look how things are going to work out 29 minutes from now. Were going to be down around 675, thats a significant 4 drop, its huge. Look at the price of oil. Fresh 6 1 2 year low, 39. 03. Now at 38 again. And that, go en, is a huge selloff, but i want to trigger right at the start and get into the drop in china. Look at these declines in asia. Starting with the shanghai at the top down, 8 1 2 . Hangsang index, hong kong, japan down 4 and south korea 2 . Mary kissel is right here. All right, china, there are reports theres speculation that the government in beijing has lost control and thats scary. Well, i dont know about that, stuart. Look, china may have been the trigger for a reality check for the markets. What has happened over the last six years, you had very low Interest Rates that let governments all over the world and china were particularly big spenders, seve