The following links are just news items and opinions that pass my desk throughout the week. I don’t necessarily support or advocate any of the items, they are just interesting reads.
That’s Not Funny! – hree comics sat around a café table in the chilly atrium of the Minneapolis Convention Center, talking about how to create the cleanest possible set. “Don’t do what’s in your gut,” Zoltan Kaszas said. “Better safe than sorry,” Chinedu Unaka offered. Feraz Ozel mused about the first time he’d ever done stand-up: three minutes on giving his girlfriend herpes and banging his grandma. That was out.
This was not a case of professionals approaching a technical problem as an intellectual exercise. Money was riding on the answer. They had come to Minneapolis in the middle of a brutal winter for the annual convention of the National Association for Campus Activities (NACA), to sell themselves and their comedy on the college circuit.
…The colleges represented were—to use a word that their emissaries regard as numinous—diverse: huge research universities, tiny liberal-arts colleges, Catholic schools, land-grant institutions. But the students’ taste in entertainment was uniform. They liked their slam poets to deliver the goods in tones of the highest seriousness and on subjects of lunar bleakness; they favored musicians who could turn out covers with cheerful precision; and they wanted comedy that was 100 percent risk-free, comedy that could not trigger or upset or mildly trouble a single student. They wanted comedy so thoroughly scrubbed of barb and aggression that if the most hypersensitive weirdo on campus mistakenly wandered into a performance, the words he would hear would fall on him like a soft rain, producing a gentle chuckle and encouraging him to toddle back to his dorm, tuck himself in, and commence a dreamless sleep—not text Mom and Dad that some monster had upset him with a joke.
Two of the most respected American comedians, Chris Rock and Jerry Seinfeld, have discussed the unique problems that comics face on college campuses. In November, Rock told Frank Rich in an interview for New York magazine that he no longer plays colleges, because they’re “too conservative.” He didn’t necessarily mean that the students were Republican; he meant that they were far too eager “not to offend anybody.” In college gigs, he said, “you can’t even be offensive on your way to being inoffensive.” Then, in June, Seinfeld reopened the debate—and set off a frenzied round of op-eds—when he said in a radio interview that comics warn him not to “go near colleges—they’re so PC.” Read More > in The Atlantic
Phone companies ditching copper wires will have to follow the rules – The age of the copper land-line is nearing its end, but traditional phone lines aren’t going quietly: new rules from the FCC now require service providers notify customers of the impending removal and drawbacks of switching to a VOIP line three months before killing a copper network. It sounds like a reasonable move — customers need to know that the technology replacing their traditional land-line won’t work during a power-outage without an external power source — but not everybody at the FCC is happy with the new rules.
“It appears that Chicken Little rules the roost,” writes Commissioner Ajit Pai in a dissent to the updated transition rules. “By dragging out the copper retirement process, the FCC is adopting ‘regulations that deter rather than promote fiber deployment.'” Pai argues that the FCC is making it more difficult for companies to modernize their networks because lobbyists are claiming that retiring copper will cause the “sky to fall,” disrupting services and hurting their business model. He has a point — but wouldn’t you want to be notified if the phone company was changing out your voice service worked? Read More > at Engadget
Santa Cruz County Appoints Committee on Cannabis Cultivation – The Santa Cruz County Board of Supervisors on Tuesday repealed an ordinance that banned the commercial cultivation of cannabis, leaving in place restrictions that allow the growth of up to 99 plants on large, rural parcels.
The 4-1 vote came after opponents of the rules collected more than enough signatures to place the repeal on an upcoming ballot. Rather than spend taxpayer dollars on an election, the Board chose to repeal the ordinance and allow a task force charged with drawing up new rules work on solutions that work for all County residents.
“It’s an opportunity to engage both the public and the cultivators in developing a policy that works best for everyone in the community,” Supervisor John Leopold said. “We have a chance to become a model for the rest of California.”
The Board has established a 13-member Cannabis Cultivation Choices Committee, which includes expertise from a range of viewpoints. Working through mid-December, the committee will look at land-use solutions that meet the needs of medical marijuana providers and addresses neighborhood quality-of-life issues. Read More > at Public CEO
Safeway pulls out of popular program supporting schools, nonprofits – Safeway ended its participation in the eScrip program, which funneled millions of dollars into schools and nonprofits.
The move represents the loss of a significant source of fundraising for schools and other nonprofits. Just last February, eScrip and Safeway issued a press release touting the $18 million annually that the grocer contributed to schools through San Mateo-based eScrip. Safeway has donated more than $300 million through the eScrip program.
Many people participated in eScrip’s fundraising program because of Safeway’s willingness to donate 1 percent to 4 percent of a shopper’s monthly purchases to their favorite school or cause.
“After careful review, we concluded the model wasn’t the best fit for our company going forward,” said Safeway spokesman Keith Turner. “The decision was driven by our desire to more effectively serve the communities where we operate stores. Read More > in the San Francisco Business Times
A Baseball Habit Begins to Feel the Pinch – Most days he is at work at AT&T Park here, Giants pitcher Madison Bumgarner can be seen with a clump of smokeless tobacco lodged in his lower lip. Bumgarner, a World Series hero and the face of the team, grew up in small-town North Carolina, where, he said, nearly all men dipped. He has been doing it since he was in fifth grade.
“Pretty much all the time,” he said.
Next year, though, Bumgarner will have to break the habit, at least at his home stadium. Signaling a profound shift in the culture of baseball, Mayor Edwin M. Lee of San Francisco signed an ordinance in May that banned smokeless tobacco from all public athletic fields in the city, including AT&T Park, starting on Jan. 1, 2016.
The move was pushed by the Campaign for Tobacco-Free Kids, a nonprofit group that approached San Francisco lawmakers as the first step in a plan to eventually rid Major League Baseball of smokeless tobacco. Matthew Myers, the president of the organization, said he expected at least six more cities with major league teams to pass similar legislation by the end of the year. A similar motion has been proposed by a Los Angeles city councilman. Myers plans to approach more cities until the entire league is accounted for.
Details of how the ordinance will be enacted and enforced in San Francisco are still being worked out, and Giants players are unsure how they will respond. George Kontos, a relief pitcher who does not dip, summarized one popular opinion this way: “We’re all grown-ups. You should be able to make your own decisions.”
…Under the current collective bargaining agreement, players cannot dip during televised interviews or carry cans of smokeless tobacco while fans are in the park. Dipping has been banned in the minor leagues since 1993, and the Professional Baseball Athletic Trainers Society has found that only about a third of all players chew, down from about half two decades ago.
It appears that about a third of the Giants use smokeless tobacco. Read More > in The New York Times
Experts haven’t seen anything like ‘insane’ Rocky Fire – The ravenous blaze racing through this area may not be a living organism, but fire behavior specialists say the vast oval of flame has been acting like a demon, bolting in all directions, shooting out superheated tentacles and even creating its own weather.
More than 3,400 firefighters from across California battled the 67,000-acre Rocky Fire on Tuesday, and they were helped by cooler temperatures and higher humidity — including a smattering of rain — that helped slow the fickle inferno, which tripled in size in recent days despite the all-out assault.
…The fire, which was just 20 percent contained as of Tuesday evening, was baffling officials by spreading on its own, without the help of strong winds that would normally be needed.
“This is insane, insane fire behavior,” Upton said. “I’ve never seen anything like it.”
…Part of the problem, Upton said, is that the fire is hungrily devouring grasslands, bushes and trees — “we call it standing gasoline” — that are critically dry after four years of drought. The winds in the area have picked up in the afternoons, but not enough to account for what everyone agrees is erratic fire behavior. Read More > at SFGate
The U.S. government is poised to withdraw longstanding warnings about cholesterol – The nation’s top nutrition advisory panel has decided to drop its caution about eating cholesterol-laden food, a move that could undo almost 40 years of government warnings about its consumption.
The group’s finding that cholesterol in the diet need no longer be considered a “nutrient of concern” stands in contrast to the committee’s findings five years ago, the last time it convened. During those proceedings, as in previous years, the panel deemed the issue of excess cholesterol in the American diet a public health concern.
The finding follows an evolution of thinking among many nutritionists who now believe that, for healthy adults, eating foods high in cholesterol may not significantly affect the level of cholesterol in the blood or increase the risk of heart disease.
The greater danger in this regard, these experts believe, lies not in products such as eggs, shrimp or lobster, which are high in cholesterol, but in too many servings of foods heavy with saturated fats, such as fatty meats, whole milk, and butter. Read More > in The Washington Post
The Age of the Robot Worker Will Be Worse for Men – Many economists and technologists believe the world is on the brink of a new industrial revolution, in which advances in the field of artificial intelligence will obsolete human labor at an unforgiving pace. Two Oxford researchers recently analyzed the skills required for more than 700 different occupations to determine how many of them would be susceptible to automation in the near future, and the news was not good: They concluded that machines are likely to take over 47 percent of today’s jobs within a few decades.
This is a dire prediction, but one whose consequences will not fall upon society evenly. A close look at the data reveals a surprising pattern: The jobs performed primarily by women are relatively safe, while those typically performed by men are at risk.
It should come as no surprise that despite progress on equality in the labor force, many common professions exhibit a high degree of gender bias. For instance, of the 3 million truck drivers in the U.S., more than 95 percent are men; of the nearly 3 million secretaries and administrative assistants, more than 95 percent are women. Autonomous vehicles are a not-too-distant possibility, and when they arrive, those drivers’ jobs will evaporate; office-support workers suffer no such imminent threat.
This pattern holds for many of the most gender-biased occupations. Men hold 97 percent of the 2.5 million U.S. construction and carpentry jobs. The Oxford study estimates that these male workers stand more than a 70 percent chance of being replaced by robotic workers. By contrast, women hold 93 percent of the registered nurse positions. Their risk of obsolescence is vanishingly small: .009 percent. Read More > in The Atlantic
‘I’m Here as a Football Coach’ – My name is Jen Welter and I am the NFL’s first female coach.
To be exact, I am a training camp and preseason intern with the Arizona Cardinals, working with inside linebackers. By now, you may know my story. I played 14 seasons of pro football, including a season of playing running back and special teams for the Texas Revolution of the (previously all-male) Indoor Football League. I also coached for the Revolution and have a PhD in psychology.
But here I am, at 37, with the opportunity of a lifetime. I am so thankful to head coach Bruce Arians, a forward-thinker who is not afraid to be different. Bruce doesn’t see race or gender, he only sees talent and passion. This hiring also speaks extremely highly of our owner, Michael Bidwill, and our general manager, Steve Keim, who supported Coach Arians in this decision and have embraced me here in Arizona.
…Let’s not ignore the fact that I am different than the tens of thousands of coaches who have worked in the NFL. And that’s O.K. It just means I bring a different perspective. Here’s how: Think of NFL rosters. How many of these guys grew up and their mom was their whole world? How many grew up being raised by a single mother? How many of them have heard their mom say, I don’t care how much money you make, you better go do your job and do the right thing?
So many of these guys have learned from women. When I instruct players—and I saw this at my last job—it feels comfortable for them. My approach may take away a little bit of that head-to-head male competition. I want to help guys realize football is as mental as it is physical, and that I’m invested in their future. When guys know they are cared about as a person, and not just a player or a commodity, they will absolutely play harder. Read More > at MMQB
ESPN isn’t in the kind of trouble dire talk would indicate — at least until next decade – It’s been a rocky year for ESPN, which shed high-priced, high-profile talent – reportedly under orders from Disney to cut costs – and continued to lose cable subscribers.
These two facts coupled together – ESPN cuts costs while losing subscribers – has triggered a wave of coverage speculating these are the first signs of eventual financial doom. With headlines such as “Is ESPN a giant bubble about to burst?” and, more colorfully, “The numbers behind ESPN’s grim meathook future,” these stories basically argue the nationwide trend of people ditching cable will further sap ESPN of income while the network still owes gobs of money to sports leagues to broadcast their games.
With apologies to our colleagues in sports media – we’re all engaging in crystal-ball journalism here based on incomplete financial glimpses of media conglomerates – there’s just as strong an argument to be made that ESPN is better positioned than any of its competitors to handle a market transition from cable bundle to a la carte streamed television.
Here are a few reasons why:
This is a footnote in recent coverage, but it bears repeating: ESPN is America’s top-rated cable network.
Yes, ESPN, like all cable networks, has seen its subscriber base slide, dropping more than 3.2 million in a little more than a year, according to the Wall Street Journal. And yes, ESPN charges cable companies, and therefore consumers, far more than any other channel: $6.61 per subscriber, according to data collected by SNL Kagan, more than four times what the next most expensive channel charges (TNT, at $1.65 per subscriber). But ESPN commands that price because of the 90-some million cable subscribers in America, more watch ESPN than any other network. Read More > in The Washington Post
On Bullet Train, Voters Finally May Get To Apply The Brakes – Pencils have erasers. Computers have the undo command and the escape key.
If you had it to do over again, would you vote for the bullet train?
It was called the “Safe, Reliable High-Speed Passenger Train Bond Act” on the 2008 ballot, and it authorized $9 billion in bonds — borrowed money — to “partially fund” a high-speed train system in California.
The ballot measure required that there would be “private and public matching funds,” “accountability and oversight” and a focus on completing “Phase I” from Los Angeles to San Francisco to Anaheim. Bond funds could not be spent on the other corridors, like Fresno to Bakersfield, unless there was “no negative impact on the construction of Phase I.”
Today the estimated cost is over $68 billion, private and federal funds are not in sight, and accountability has been cut back — instead of two spending reports to the Legislature every year, only one report every two years will be required. And “Phase I” broke ground in Fresno.
Place your finger on the escape key and stand by. State Sen. Andy Vidak, R-Fresno, has introduced a bill, co-authored by Assemblyman Rudy Salas, D-Bakersfield, to put the bullet train before the voters again. If Senate Bill 3 (SBX1-3) can muster a two-thirds vote in the state Senate and Assembly, it will be on the June 2016 ballot. Read More > at Fox and Hounds
Want to Be Better at Your Job? Have a Kid – …After I had my first baby, though, people seemed more interesting because I didn’t get to be around grown adults as often as I wanted to. Running with the dog even felt like a luxury in some ways. I cared more about the world outside of my head. And I cared more about what I wrote. I didn’t want to write anything that was a boring waste of time. That might sound pretty easy to avoid, but remember: I was a staff writer covering pop culture for an online magazine — see also: a Boring Waste of Time expert.
After I had my second kid, I wrote a memoir. Even though life was truly a hellish sharknado with shit and screaming babies where the sharks should go, I was laser-focused on both my babies and my future career as a writer of Not Boring Things. And my writing improved! Sure, I was panicked and angry and sleep-deprived half the time, but I stopped overthinking my work, and started trying new things. The clock was ticking down, after all. I only had a few hours a day to be brilliant; I had to make those hours count. I had to write with conviction. I had to pour my soul into it, or else. I was bloated and unshowered and flinty, but creatively, I was on fire.
Even though I had a small baby attached to my body and a toddler knocking stuff over nearby, I had more energy for new things. I wanted to write about new subjects. I wanted to write cartoons, and novels, and essays that weren’t about hot people going crazy from being idle for too long in paradise.
Now, it’s true that sometimes I look back on my 20s and 30s and I think, Jesus. I was so hot back then, and I was living in paradise. Why was I so angry and bored all the time? If I could just go back and be that sexy now instead of driving small, argumentative humans from one activity to another, I wouldn’t waste a single second of my sexy, sexy time. No way! Read More > at New York Magazine
Should you walk or run for exercise? Here’s what the science says. – …It was immediately apparent that running can lead to more injuries, and the risk goes up as running programs get more intense. Studies have found that runners have significantly higher injury rates than walkers (one study found that young men who run or jog had a 25 percent higher risk of injuries than walkers), and that ultramarathoners are at an even greater risk. The main running-related injuries include tibia stress syndrome, Achilles tendon injuries, and plantar fasciitis.
Overall, more than half of people who run will experience some sort of injury from doing so, while the percentage of walkers who will get hurt is around 1 percent. Interestingly, it seems you can walk pretty much endlessly without any increased risk of hurting yourself.
…That said, I also learned about some of the incredible health benefits of going fast: Even five to 10 minutes per day of jogging at around 6 miles per hour can reduce the risk of death from cardiovascular disease and other causes. Joggers have been found to live longer than non-joggers even after adjusting for other factors — a difference of 3.8 years for men and 4.7 years for women.
That said, research has found that walking carries significant health benefits, as well. Some studies suggest that you can extend your life and stave off disease by simply walking — and the more, the better.
All this research, while illuminating, didn’t offer up any clear conclusions on whether running or walking was better for you overall. So I asked some of the world’s leading researchers in this area. Their conclusion? You need to consider the trade-offs. Read More > at Vox
California minimum wage initiative cleared for signatures – A union-backed proposal to raise California’s minimum wage to $15 an hour was cleared Monday to begin collecting signatures for a ballot initiative next year as local efforts continue nationwide to boost the minimum wage to better reflect the cost of living.
The proposal by the Service Employees International Union-United Healthcare Workers West would increase California’s minimum wage by $1 an hour annually until it reaches $15 an hour in 2021. California’s current $9 hourly wage, among the highest in the country, is set to increase to $10 next year.
It’s the latest in a nationwide effort by unions and other groups to raise the wage. The cities of Los Angeles, Seattle, San Francisco, Oakland and Berkeley have approved phased-in increases to eventually take their minimum wage to $15 an hour, and the University of California system and Los Angeles County have adopted similar plans. Read More > at KPCC
California’s Uber Hunt – …Notably, complaints about Uber typically aren’t coming from customers, and even among the firm’s drivers, crusades like Berwick’s are rare. In fact, what’s striking about the various campaigns against ride-sharing is their reliance on paperwork and credentialing instead of outcomes. The CPUC, for example, doesn’t assert that Uber is harming actual handicapped people, only that the company has failed to produce paperwork that proves the absence of harm. Similarly, the cab companies’ speech-related lawsuit—which focuses on safety claims made in Uber ads—does not claim that traditional taxis are safer than Uber rides. The plaintiffs assert instead that cab drivers are subjected to more paperwork than Uber drivers.
The anti-Uber campaign’s reluctance to assess outcomes is understandable, given the public’s strong revealed preference for the company. Interest groups can complain, but drivers and customers continue to vote for Uber with their time and money. In a free country or a sane state, a clear market decision in favor of a business would be the end of the discussion. But Uber is increasingly under pressure to furnish evidence that its model works in theory as well as in practice.
The company recently commissionedLos Angeles-based BOTEC Analysis to measure service in low-income neighborhoods—a market in which anecdotal evidence already suggests that Uber’s influence has been positive. BOTEC compared UberX with taxi services in Van Nuys as well as Central and East Los Angeles. The median wait time for an UberX ride in L.A. neighborhoods was five minutes and 52 seconds; for a taxi ride, it was 14 minutes and 33 seconds. The maximum recorded wait time for UberX was 20 minutes; for a cab, 57 minutes. Despite Uber’s widely maligned practice of “surge pricing”—a concession to the law of supply and demand that is for some reason considered outrageous—UberX also soundly beat traditional cabs on price, with a median cost per ride of $6.28, versus $15 for taxis. Surge pricing didn’t even produce a higher maximum price. UberX’s max cost per ride was $11.68, against $22 for cabs. Read More > at City Journal
GDP Numbers Keep Getting Worse – Yesterday we received the first estimates for GDP in Q2 and along with it some major revisions to the numbers for 2012-2014 and Q1 2015 went from a contraction to a bit of growth – very little bit, but still better than a contraction. Yup, the US GDP numbers keep getting worse!
So let’s see what these new numbers tell us. In the 138 years from 1870 to 2008, the US economy expanded by about an average of 3% a year. After the revisions to GDP data from 2012-2014, we see that the U.S. economy since the financial crisis has been growing an average of 2.0% a year versus the earlier 2.3%. The difference between 3% and 2% may not sound like much, but think of it this way:
At a 3% growth rate the economy doubles in about 24 years
At a 2% growth rate the economy doubles in about 36 years – 50% MORE time!
…So there you have it in a not-so-small nutshell. US growth continues to slow and those factors that could induce better growth in the future are giving us no reason to think things will improve. Overall businesses are choosing to boost their share prices today through financial engineering (through share buybacks and the like) rather than by investing in future capabilities. This affects the productivity potential for Americans, who are already feeling pretty dour with income levels that have been stagnant for decades and a government that keeps telling them they need more and more help taking care of themselves.
Today there are 136 people receiving some sort of government benefit for every 100 people employed in the private sector. Read More > at Elle’s Economy
Can the Insurance Industry Survive Driverless Cars? – A black Volkswagen Golf rolls along at 12 mph on an empty road in the heart of Virginia’s horse country. Suddenly the dashboard lights up, and there’s a warning sound. The driver ignores it. A moment later, the VW brakes hard—all on its own—and comes to a stop a foot in front of an inflated box painted to look like the rear end of a car. The Insurance Institute for Highway Safety (IIHS) has been running tests like this a few times a month at its research center in Ruckersville, Va. The objective is to vet automakers’ latest crash avoidance technologies, like the one in the Golf, to identify the most effective ones.
The auto insurance industry is having its Napster moment. Like record companies at the dawn of online music file sharing, Allstate, Geico, State Farm, and others are grappling with innovations that could put a huge dent in their revenue. As carmakers automate more aspects of driving, accidents will likely plunge and car owners will need less coverage. Premiums consumers pay could drop as much as 60 percent in 15 years as self-driving cars hit the roads, says Donald Light, head of the North America property and casualty practice for Celent, a research firm. His message for insurers: “You have to be prepared to see that part of your business shrink, probably considerably.”
Auto insurance has long been a lucrative business. The industry collected about $195 billion in premiums last year from U.S. drivers. New customers are the source of so much profit that Geico alone spends more than $1 billion a year on ads to pitch its policies with a talking lizard and other characters. Yet even Warren Buffett, whose company, Berkshire Hathaway, owns Geico, is talking about the long-term risks to the business model. “If you could come up with anything involved in driving that cut accidents by 30 percent, 40 percent, 50 percent, that would be wonderful,” he said at a conference in March. “But we would not be holding a party at our insurance company.”
The industry is bracing for upheaval. Allstate Chief Executive Officer Tom Wilson’s futuristic worst-case scenario for the business—he calls it The Jetsons—has automation cutting the costs of accidents dramatically. The number of vehicles on roads drops, too, because people sign up for car sharing or other transportation services instead of owning their own set of wheels. Auto insurance premiums plateau for a decade, then decline precipitously. “There will be fewer cars. There will be fewer accidents. And it will be safer,” he says. “When you’re as big as we are and insure 16 million households, it doesn’t take much of a degradation to be a real revenue issue for you. So we are focused on it.” Read More > at Bloomberg
White House leans right on licensing – The White House report, entitled Occupational Licensing: A Framework for Policymakers, raises some important points. First, “more than one-quarter of U.S. workers now require a license to do their jobs, with most of these workers licensed by the states. The share of workers licensed at the state level has risen fivefold since the 1950s.” Where a license used to be required only for unusual jobs, now licensing requirements take up a major part of the employment sphere — and not just for physicians, but also for florists or funeral attendants.
Many of the jobs subject to licensing are the sort of entry-level or near-entry level jobs traditionally occupied by poor people trying to better themselves. Forcing them to undergo testing, apprenticeships, etc., in order to occupy these jobs makes bettering themselves much harder, reducing social mobility.
Though the licensing requirements are supposedly for the protection of the public, the report notes that they vary wildly from state to state, which suggests that they’re more about protecting existing businesses from competition, or generating licensing fees for the states, than about consumer welfare. As the report notes, “Empirical work suggests that licensed professions’ degree of political influence is one of the most important factors in determining whether states regulate an occupation.”
In fact, when a profession is licensed, the number of practitioners falls — so we have fewer jobs — while prices for consumers increase, though the quality of services does not. Like any cartel, licensing is good for the insiders — the people already in the profession, with licenses, and the bureaucrats who regulate them — and bad for everyone else, both consumers and people who would like to work in the field but can’t afford to meet the licensing requirements (which, remember, don’t actually make them any better at their jobs). Read More > in USA Today
Real ‘Income Inequality’ Is In UC, CSU Academia – …The UC Regents approved 3 percent raises for 15 of the University of California’s highest-paid executives. The new pay scale for the five UC chancellors are: $772,500 for UC San Francisco’s Samuel Hawgood; $516,446 for UC Berkeley’s Nicholas Dirks; $441,334 for UCLA’s Gene Block; $436,120 for UC San Diego’s Pradeep Khosla; and $424,360 for UC Davis’ Linda Katehi, the Los Angeles Times reported.
Also included in the raises were $231,750 for Anne Shaw, chief of staff for the UC regents, to $991,942 for Mark Laret, chief executive of UC San Francisco’s medical center. Many of them had salaries well above $400,000 before the new increase.
These are public employees who also can look forward to rich pensions and lifetime health care in retirement… unless the system goes broke. But that’s another story. These people will live as millionaires in retirement, courtesy of the taxpayers. A $770,000 annual retirement for 30 years is $23 million. Is anyone really worth $23 million in retirement for something they did not build themselves?
Others on the UC pay raise list include the UC system’s chief investment officer, Jagdeep Bachher, whose salary now will be $633,450; UC’s general counsel, Charles Robinson, $441,334; and UC Davis’ medical center chief executive, Ann Madden Rice, $848,720.
Kevin Sabo, board chairman of the UC Student Association, denounced the pay raises as “shameful” and said the raises would hurt future lobbying efforts in Sacramento to boost state funds for UC. He’s right, but no one is listening. They really don’t care. Read More > at Flashreport