[Source: Los Angeles Times] Members of Congress will have to pay out of their own pockets to settle sexual and other harassment claims made against them under a compromise approved Thursday by the Senate and House. Currently taxpayers cover the cost of settling harassment claims made against elected officials. The new policy is a bipartisan Read More…
Tag: financial liablity
Paint companies could hand taxpayers the bill for hazardous lead paint cleanup under proposed California ballot measure
[Source: Los Angeles Times] A proposed November statewide ballot measure could allow three of the nation’s biggest paint companies to hand California taxpayers a bill for the cost of cleaning up health hazards caused by lead paint. The measure would place a $2-billion bond on the November ballot to fund the remediation of lead paint, Read More…
Is shipping the next financial crisis?
[Source: Port Technology] The Hanjin Shipping collapse rocked the shipping industry; the seventh largest shipping company operating at the time filing for receivership and leaving its vessels abandoned across the globe was potentially a warning sign for things to come for other industry actors. It was reported by Port Technology that Hanjin Shipping was having Read More…
California’s $15/hour wage could help workers, cost jobs
[Source: Associated Press] A political deal to raise California’s minimum wage to a nation-leading $15 an hour could help some workers cope with the state’s crushing cost of living but also deprive other low-wage earners of jobs altogether, economists said Monday as Gov. Jerry Brown and other leaders touted what would be a landmark agreement. Read More…
California’s $400 billion debt worries analysts
[Source: San Francisco Chronicle] California has come a long way to dig itself out of budget deficits, but the state remains on shaky ground due to nearly $400 billion in unfunded liabilities and debt from public pensions, retiree health care and bonds, financial analysts say. “Yes, the state’s budget is balanced if you are looking Read More…