| CA Retirement fund to buy 275 million stake in Silver Lake Partners
An announcement may come as soon as today, said the person, who declined to be named because the talks are secret. The stake is worth about $275 million, valuing Menlo Park, California-based Silver Lake at $2.75 billion, the New York Times reported earlier today, citing unidentified people briefed on the deal. Calpers, which covers the benefits of more than 1.5 million Californian state and local government employees, has more than 400 private equity investments. Sacramento, California-based Calpers plans to reduce that number by concentrating assets in fewer fund managers. The California Public Employees' Retirement System (CalPERS) provides pension fund, healthcare and other retirement services for approximately 1.5 million California public employees. As of October 2007, it owns $254.8 billion worth of stock, bonds, funds, private equity and real estate.
Bloomberg Picks Quadrangle Asset Management
As part of an agreement with the city's Conflicts of Interest Board, Mayor Bloomberg has chosen Quadrangle Asset Management LP to manage his investments and those of the Bloomberg Family Foundation, officials said yesterday. Financier Steven Rattner, a friend of Mr. Bloomberg's, runs the Quadrangle Group, the New York Times reported. Mr. Rattner has been a supporter of Senator Clinton's presidential campaign, the Times said. Mr. Bloomberg is considered a potential presidential candidate who would be expected to spend as much as $1 billion on a self-financed campaign should he run. Mr. Bloomberg sought an opinion from the conflicts board to diversify his investments. Under the ruling, he is allowed to invest in hedge funds, real estate, and private equity funds, among other areas, so long as the identities of the money managers and their investment picks are not shared with him.
Fellow judges deny Kosko a new term
In June, for instance, Kosko raised eyebrows when he issued this warning to jailed economist Al Parish at a bail hearing: "Mr. Parish, if you plan to abscond, then you can plan for your mother to live in a cardboard box under the railroad tracks for the rest of her life." In South Carolina, magistrate judges serve eight-year terms. They are appointed by U.S. district judges, who hold life terms. Among other things, magistrate judges conduct bail hearings and pretrial criminal proceedings. The State reported that a magistrate's screening committee recommended against Kosko's reappointment after investigating allegations that he had made inappropriate comments. Cherie W. Blackburn, a Charleston attorney who chaired the committee, declined to discuss specifics Tuesday but called the process "a fair one." The Rev.
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Earlier this month, six troublemakers from antiwar group Code Pink went to Miami to stage a protest against a man they consider a terrorist, but many locals consider a hero. To put it mildly, their little protest did not go well. First there was the claim, broadcast on local Spanish-language TV, that the protesters should watch out, or "someone might crack your head like a coconut." Next came three death threats. Finally, there was the angry mob of mostly Cuban exiles who spat on them. It all started when the FBI announced it would publicize its most-wanted list on billboards in 20 cities, including Miami. The Code Pinkos wanted the FBI to add someone to the list: Miami resident and 80-year-old Cuban wacko Luis Posada Carriles, who has been connected with bombings in Havana in 1997. "I was there when the hotels were bombed, so I always had a beef with Posada Carriles," Code Pink's Medea Benjamin explains.
A Falcons town no more
Blank finds his own decision-making being questioned publicly more than ever. The only franchise considered in worse shape is the 1-14 Miami Dolphins - and they just convinced Bill Parcells that was a better job. Blank knows. Rebuilding the front office and roster represents only part of the equation. This off-season also will be about regaining credibility, not just locally but league-wide. The Falcons have been a coveted destination for free agents. Players came here or stayed here, partly because of money but also because of perception of the team's direction. That's gone now. The Falcons' win total the last four seasons has steadily dropped: 11, 8, 7, 3. As Blank searches for a new general manager and coach, candidates will stop to ask themselves why things haven't been working.
Lisa Heyamoto: A $25,000 kitchen for a lucky guy
When you do something good for the environment, the environment does something good for you. At least, it does if SMUD is the middleman. The utility district recently awarded a $25,000 backyard dream kitchen to a customer who had participated in several of its efforts to increase energy efficiency in the home. The lucky winner? None other than former Kings owner Gregg Lukenbill, who automatically qualified for the contest after installing an energy-efficient pool pump. .
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