Ten Years Later, Ratepayers Still Paying for the Energy Crisis

California’s energy crisis in the winter of 2000 — spot market prices hit $2,000 per megawatt hour — may seem like a thing of the past for electricity customers. It’s not.

They’re still paying the price: About $3 billion each year for the next three years.

Of the 58 contracts the state Department of Water Resources negotiated in 2001 and 2002 at a cost of $42.5 billion, 26 still exist with an estimated portfolio cost of $9.8 billion between now and 2015 when the final two contracts expire.    Read more »

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Governor’s Budget Plan Highlights California’s Economic Hurt

Signs of California’s tattered economy are sprinkled throughout Gov. Schwarzenegger’s proposed budget for the fiscal year that begins July 1.

The most obvious is the steep decline in tax revenues, coupled with years of over-spending, that led to budget shortfalls totaling $60 billion over the past two years and an additional $20 billion in the budget the GOP governor proposed January 8.    Read more »

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Gov. Schwarzenegger’s Budget Plan Has Shaky Assumptions

Gov. Schwarzenegger’s sixth and final budget proposal reflects the themes he’s been sounding since December – increased federal funds or elimination of state programs like in-home care and welfare.

While he touted his commitment to children and education, he used some budgetary sleight-of-hand to reduce the amount the state would be required to pay public schools by more than $800 million – that on the heels of some $12 billion in reductions over the past two budget years.    Read more »

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Controller Issues December Cash Report: Revenues Up But…

(Editor’s Note: This report comes a day before Gov. Arnold Schwarzenegger releases his budget proposal to close a roughly $20 billion gasp between cash and spending commitments for the fiscal year beginning July 1. He said in his State of the State speech January 6, $6.6 billion of the problem is this fiscal year, the remaining $13.4 billion in the next.    Read more »

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Key Points From Gov. Schwarzenegger’s State-of-the-State

The governor said the state faces a $19.9 billion deficit — $6.6 billion in the current fiscal year and $13.3 billion for the upcoming budget year. He called on the federal government to pay California the money it is owed and to create more equitable funding formulas.

Schwarzenegger said there is no choice but to cut deeper to close the budget gap but that he will protect education funding, including higher education.    Read more »

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Resources Secretary to be Replaced by Water Resources Head

Resources Agency Cabinet Secretary Mike Chrisman, a veteran of both the Schwarzenegger and Pete Wilson administrations, will step down in February and be replaced with current Department of Water Resources head, Lester Snow, administration sources told California’s Capitol.

Snow’s replacement is said to be Mark Cowin, a deputy director and 25-year veteran of the department, who coordinates efforts to make regions of the state more water self-sufficient.    Read more »

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Letter May Telegraph State-of-the-State and Budget Themes

Some clues as to the themes Gov. Arnold Schwarzenegger will sound January 6 when he gives his sixth – and final – State of the State speech can be found in a December 22 letter he wrote to California’s congressional delegation regarding federal health care legislation.

The contents of the three page letter also may forecast some of the action the GOP governor will propose January 8 in his budget, which must close a roughly $20 billion gap between spending commitments and revenue.    Read more »

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The New Year’s Fundraising Fever — Same As It Ever Was

 Happy New Year!

We hope you will be able to join us for Back to Session Bash 2010 on Monday, January 25th.

Please see the invitation below and let me know if you have any questions about our Program Memberships or 2010 Events. 

 Many thanks and hope to see you soon.    Read more »

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Happy New Year Everybody! And Please Send More Money

Thank You for a Tremendous Start to Our Campaign

Dear Friends,??I hope all of you are enjoying a happy holiday season with your families. From the Torrico family to every one of our friends, I want to wish you a joyous and safe New Year.??

I can tell you this has been a year to remember for us.    Read more »

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There Could Be Worse Things To Do On New Year’s Eve

Assemblywoman Fiona Ma cordially invites you to

Shake, Rock & Roll into the New Year at Fiona’s First Annual New Year’s Eve Bash!

Thursday, December 31, 2009

 Circolo Restaurant and Ultra-Lounge

500 Florida St., San Francisco

Featuring a live performance by the Keith All-Star Band with DJ ICON spinning house and 70’s music in the Wa Ultra-lounge and DJ I-CUE spinning hip-hop in the main room

Tickets:

“Fort Knox” — $500/person — VIP Seating, complimentary food & open bar (Champagne, Well and Call Spirits) 7:30-10 p.m.    Read more »

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