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San Diego Pension Scandal
The San Diego City Employee's Retirement Pension Fund was the source of a multi-year scandal and has been an ongoing financial concern for the city of San Diego, California. Situation background The San Diego City Employees' Retirement System had been underfunded in some form for more than a decade. In 2001, as a result of years of sharp increases in pension benefits combined with decreases in pension funding and a decrease in the value of investments, the fund fell below certain funding targets. Revelation of the problem Diann Shipione, a former trustee of the San Diego, California Employees' Retirement System pension board, is credited with exposing unlawful underfunding of the pension fund to the media. In 2002 Shipione, as a pension board trustee, raised concerns to the San Diego Mayor and City Council about a proposal that would essentially reduce money going into the retirement fund and increase money going out of it. This tactic went unnoticed due to an accounting trick th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego, California
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the eighth most populous city in the United States and the seat of San Diego County, the fifth most populous county in the United States, with 3,338,330 estimated residents as of 2019. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches and parks, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center. San Diego is the second largest city in the state of California, after Los Angeles. Historically home to the Kumeyaay people, San Diego is frequently referred to as the "Birthplace of California", as it was the first site visited and settled by Europeans on what is now the U.S. west coast. Upon landing in San Diego Bay in 1542, Juan Rodríguez Cabrillo claimed the area for Spain, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diann Shipione
Diann Shipione is a former trustee of the San Diego, California City Employees' Retirement System pension board, credited with exposing unlawful underfunding of the pension fund and omissions in municipal bond sales documents. She was formerly a vice president at UBS Financial Services and is the wife of businessman Patrick C. Shea. Situation background The San Diego City Employees' Retirement System had been underfunded in some form for more than a decade. In 2001, as a result of years of sharp increases in pension benefits combined with decreases in pension funding and a decrease in the value of investments, the fund fell below certain funding targets. Revelation of the problem In 2002 Shipione, as a pension board trustee, raised concerns to the San Diego Mayor and City Council about a proposal that would essentially reduce money going into the retirement fund and increase money going out of it. In 2003 she raised additional concerns that an announced $500 million City of San ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the List of United States cities by population, eighth most populous city in the United States and the county seat, seat of San Diego County, the List of the most populous counties in the United States, fifth most populous county in the United States, with 3,338,330 estimated residents as of 2019. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches and parks, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center. San Diego is the List of municipalities in California, second largest city in the U.S. state, state of California, after Los Angeles. Historically home to the Kumeyaay people, San Diego is frequently referred to as the "Birthplace of California", as it was the first site vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territories of the United States by population, most populous U.S. state and the List of U.S. states and territories by area, 3rd largest by area. It is also the most populated Administrative division, subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous Statistical area (United States), urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento, California, Sacramento is the state's capital, while Los Angeles is the List of largest California cities by population, most populous city in the state and the List of United States cities by population, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dick Murphy
Richard M. Murphy (born December 16, 1942) is a former American politician who served as the 33rd mayor of San Diego, California from 2000 to 2005. Early life Murphy was born 1942 in Oak Park, Illinois. He was captain of the varsity basketball team and Senior Class President of Proviso West High School in its first graduating class in 1961. He graduated Phi Beta Kappa from the University of Illinois with a degree in Economics and served as president of the Alpha Tau Omega fraternity. He received his Master of Business Administration from Harvard University and his law degree from Stanford University. Murphy served as an officer in the U.S. Army, in The Pentagon and as a military aide to the Nixon administration. In the early 1970s he moved to San Diego, where he was Marketing Director for Bank of America, and an attorney at the law firm of Luce, Forward, Hamilton & Scripps. In 1980, he was elected to the San Diego City Council, and served from 1981 through 1985. In 1985, he wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jerry Sanders (politician)
Gerald Robert "Jerry" Sanders (born July 14, 1950) is a former American politician and law enforcement officer from San Diego, California. He served as the 34th mayor of San Diego and was Chief of Police. As of December 2012, he is the president and CEO of the San Diego Regional Chamber of Commerce. Personal life Sanders was born 1950 in San Pedro in Los Angeles, California. His alma maters are San Diego Miramar College, San Diego State University, and National University. He was also a member of the Sigma Alpha Epsilon fraternity while at San Diego State. Sanders lives in the Kensington neighborhood of San Diego with his wife Rana Sampson. He has two daughters, Lisa and Jamie. His brother, Tom Sanders, was an Oscar nominated production designer. San Diego Police During his senior year at San Diego State University, Jerry Sanders became a police officer with the San Diego Police Department. He served in the police department from 1973 until 1999, and served as Chief of Police f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mike Aguirre
Jules Michael Aguirre (born 1949), more commonly known as Michael Jules Aguirre, was the City Attorney for the City of San Diego, California, from 2004 to 2008. In 2013, he was a candidate for mayor in a special election following Mayor Bob Filner's resignation. He lost to Kevin Faulconer, placing fourth in a field of eleven candidates. Early life Aguirre was born to Julio and Margaret Aguirre. His father was of Spanish and Mexican descent and his mother is of Mexican descent. Early career Aguirre worked as Assistant U.S. Attorney for the Department of Justice and directed a grand jury investigation of pension racketeering. He was then appointed as assistant counsel to the U.S. Senate's Permanent Subcommittee on Investigations. After leaving government work, Aguirre set up his own firm specializing in securities fraud. In the 1990s, Aguirre continued his securities practice and his electoral campaigns. In 1990, Aguirre allied with the Chicano Movement to file a successful f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Californians Aware
Californians Aware, The Center for Public Forum Rights, also known as CalAware, is a Carmichael, California based nonprofit organization established to help journalists and others keep Californians aware of what they need to know to hold government and other powerful institutions accountable for their actions. Its mission, firmly rooted in supporting the protections guaranteed by the First Amendment of the United States Constitution, is to support and defend open government, an enquiring press and a citizenry free to exchange facts and opinions on public issues. Californians Aware was founded by Terry Francke, former executive director and general counsel of the California First Amendment Coalition. J.W. August is the current president, and board members include Richard McKee, CalAware President Emeritus, Cindy Ossias, the whistleblower known for exposing California Department of Insurance corruption, and Donna Frye, who narrowly missed election in 2004 as mayor of San Diego, runni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
County Of San Diego
San Diego County (), officially the County of San Diego, is a county in the southwestern corner of the U.S. state of California. As of the 2020 census, the population was 3,298,634, making it California's second-most populous county and the fifth-most populous in the United States. Its county seat is San Diego, the second-most populous city in California and the eighth-most populous city in the United States. It is the southwesternmost county in the 48 contiguous United States, and is a border county. It is also home to 18 Native American tribal reservations, the most of any county in the United States. San Diego County comprises the San Diego-Chula Vista-Carlsbad, CA Metropolitan Statistical Area, which is the 17th most populous metropolitan statistical area and the 18th most populous primary statistical area of the United States as of July 1, 2012. San Diego County is also part of the San Diego–Tijuana transborder metropolitan area, the largest metropolitan area shar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego City Council
The San Diego City Council is the legislative branch of government for the city of San Diego, California. The city council was first established in San Diego in 1850. The council uses a strong mayor system with a separately elected mayor who acts as the executive. There are currently nine members of the council. City council members serve a four-year term and are limited to two successive terms. History San Diego was first incorporated as a city government with a common council on March 27, 1850. However, the city went bankrupt in 1852 and the council was replaced by a board of trustees. A new charter was adopted in 1889 reestablishing a common council under the strong mayor form of government. The common council consisted of two houses, a nine-member board of aldermen and an eighteen-member board of delegates. The council was consolidated into one nine-member house in 1905 and reduced to a five-member commission in 1909. In 1931 a new charter established a council-manager gov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California State Assembly
The California State Assembly is the lower house of the California State Legislature, the upper house being the California State Senate. The Assembly convenes, along with the State Senate, at the California State Capitol in Sacramento. The Assembly consists of 80 members, with each member representing at least 465,000 people. Due to a combination of the state's large population and a legislature that has not been expanded since the ratification of the 1879 Constitution, the Assembly has the largest population-per-representative ratio of any state lower house and second largest of any legislative lower house in the United States after the federal House of Representatives. Members of the California State Assembly are generally referred to using the titles Assemblyman (for men), Assemblywoman (for women), or Assemblymember (gender-neutral). In the current legislative session, Democrats enjoy a three-fourths supermajority of 62 seats, while Republicans control a minority of 18 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Scandals
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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