Senate District 32

Article Abstract:

Businessman Rober Hurtt succeeds Republican Ed Royce in the Senate District 32 post. Hurtt has managed to win outright in the 1993 special election primaryby garnering 76% of the votes, making him the only candidate to do so. Hurtt had originally planned to finance other candidates for the congressional elections but they did not reach his standards, prompting him to launch a campaign for himself. Other contenders retreated from the race because of the financial strength of Hurtt's campaign.

Economic aspects, Political activity, Elections, Political campaigns, Orange County, California, Hurtt, Robert

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Local government hits the wall

Article Abstract:

The 1993 California budget changes how city and county governments receive their money, making Proposition 13's effects more evident than ever. The state has been making up the loss of property tax revenues since 1978, but will now need that money to balance its own budget. Counties' growing dependence on sales taxes for revenue will reduce their incentive to build new developments on unincorporated land, moving that construction closer to existing communities.

California, Local government, Tax policy, Property taxes, Property tax

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CalIPERS ventures into Silicon Valley

Article Abstract:

Traditionally, pension funds do not venture into any "high-risk" investments, but at the beginning of the 1990s California Public Employees' Retirement System (CalPERS) entered into the investment market of technology and Intermet firms. Issues concerning the growth and development of this alternative approach are discussed.

Management, Investments, Pensions, Public employees, Government employees, California. Public Employees' Retirement System

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