Thursday, 13 May 2010

The Golden Years

This is a fascinating fact.

Bruce Malenhorst retired after 32 years of city, county, and state work in California. He'd done administration work, clerk support, finance, acted as a treasurer, and even been an executive of the utility Vernon Light & Power.

Bruce now makes in retirement: $509,664 a year.

Yeah, that's an awful lot. In Bama, you'd have 35 guys lined take in the $509k a year in pension. In fact....I doubt if you can find a state worker who takes home more than $60k a year in pension.

California has this promise to Bruce....for as long as he lives...they have to pay this each year. Let's say he lives until 80...that's at least fifteen to twenty years of this pay. Millions. And the curious thing is that they have literally thousands of folks now drawing $100k or more a year.

How does a state sign up to such a liability? Thats the curious thing...I don't think they ever aimed at such a lofty goal. But each year that came and went...they gave a guy four percent on the raise, and then tossed in another $3k for their pension along the way. So it didn't take more than thirty years for this to add up.

So what happens in the next five years? It's hard to avoid seeing massive failure and a Supreme Court case where the state is ordered to pay the pension...even if they are bankrupt. So do they cross over and ask the Federal government to pay? Maybe...but folks are getting kinda upset over this mess. What give favors to California?

Bruce is sitting there...paying out $200k a year in taxes to the federal and state government, and still enjoying $300k a year. He's probably going to Vegas every six weeks and probably sailing his boat around the bay area. And he probably has six cars sitting in the garage. Life is pretty good for Bruce. It'll be interesting to see how he falls, and if he can recover to live a more simplistic lifestyle.

Just Another Day

Yesterday...we had another shooting in DC.

This time? A young guy was put into the hospital after being shot in the head...while in the midst of a city park in northeast 1 PM.

Yeah, it wasn't even evening hours. Just after lunch. That's the strange thing about this.

Cops have been out but no motive or reason has been offered.

Being only a new's hard to note more than two days passing without a shooting or killing in DC...a town with a ban on guns. Obviously, something just isn't working.