Mike Genest, Schwarzenegger’s Finance Director, to Retire

Mike Genest, director of Gov. Arnold Schwarzenegger’s Department of Finance, is stepping down, likely by the end of this year.

Since his appointment by the GOP governor in December 2005, Genest, 62, has been forced to cope with the worst budget crises in California’s history. Seemingly unflappable, he helped create a budget in February to close a $36 billion hole between revenues and spending commitments and helped generate another $24 billion in budget fixes in July after the stagnant economy drove the budget out of balance.    Read more »

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