Republican Congressman Jeff Denham, a sharp critic of California's high-speed rail plan and a former state senator, is the new chair of the House railroads committee. The perch gives him influence over rail issues -- including the bullet train.
From Michael Doyle in the Fresno Bee: "A sharp critic of California's ambitious high-speed rail plan, Denham can use his post to challenge one of the Obama administration's top public works priorities. Future rail legislation must pass through Denham's subcommittee, which can also hold hearings to shed potentially unflattering light on specific projects like California's."
"I'm opposed to it, but I'm going to work with the California High-Speed Rail Authority on going forward," Denham said Wednesday. "I want to work together with them, though I still have doubts about their funding and ridership numbers."
"Underscoring his new leadership position, as well as his stated willingness to keep an open mind, Denham met early Wednesday morning on Capitol Hill with the California High-Speed Rail Authority's two top officials, board chairman Dan Richard and chief executive officer Jeff Morales. In a statement, Richard described the meeting as "collegial and productive."
The administration's long -fought effort to move more Northern California water through the Delta to the Central Valley and Southern California drew new opposition, with a coalition urging a smaller project than that envisioned by Gov. Brown.
From the LAT's Bettina Boxall: "A group of conservation organizations and Bay Area water agencies is proposing a vastly scaled-down version of a new export system for the Sacramento-San Joaquin River Delta, arguing that it would cost less and be more reliable than a plan supported by Gov. Jerry Brown’s administration."
"The groups are asking state and federal agencies to include their proposal in the ongoing environmental review of an ambitious plan to revamp the way Northern California water is shipped through the delta to the San Joaquin Valley and Southern California."
"Federal and state officials have not made a final decision on the plan. But they favor a proposal to build three large intake facilities on the Sacramento River near Hood that could divert 9,000 cubic feet of water a second into two side-by-side underground tunnels, 35 miles long, that would feed into existing government pumps in the south delta. Currently, supplies are drawn entirely through the delta to the pumps, a system that has caused considerable environmental harm."
In the Stockton bankruptcy, a critical piece of the puzzle is the role of bond insurers, who complain that the city has refused to cut public pension benefits.
From Calpensions' Ed Mendel: "The insurers backing $250 million worth of Stockton general fund bonds argue that the city’s bankruptcy plan gives them major cuts but spares the largest creditor, CalPERS, whose annual bill to the city is expected to nearly double in the next 10 years."
"During a 90-day mediation with creditors required under a new state law before filing for bankruptcy, Stockton did not negotiate with CalPERS, say Assured Guaranty and National Public Finance Guarantee."
"Instead, National said in a filing last month, Stockton chose “to protect the unsustainable CalPERS pensions that it awarded, but that the city itself cannot now afford, while forcing its other creditors (including National) to foot the bill.”
Gov. Brown pitched UC regents on the benefits of online education and found a sympathetic audience.
From the Mercury-News' Kate Murphy: "The University of California has $10 million to expand online education in the governor's budget proposal. But no one knows what the programs will look like or how much money they will save the university, if any."
"Gov. Jerry Brown, who attended a UC Regents meeting Wednesday, stressed the potential of online coursework for cost savings, saying the university can't afford to continue operating as it has -- at least, not without raising tuition, which he has discouraged."
"Brown also said the new educational offerings, harnessing the latest technology, would be stronger, not just less expensive. As he put it to reporters after the discussion, "What is being talked about is better, cheaper."
Meanwhile, one of Silicon Valley's most famous names, Thomas Weisel, has been caught up in the doping scandal surrounding cyclist Lance Armstrong.
From the WSJ's Reed Albergotti and Vanessa O'Connell: "The investment bank founded by Thomas Weisel, the powerful Silicon Valley financier who bankrolled and owned Lance Armstrong's former cycling team, also managed assets for the then-head of cycling's governing body, according to a broker who handled the accounts."
"The 71-year-old Weisel is under scrutiny in the doping scandal that has engulfed Armstrong's former U.S. Postal Service cycling team."
"A federal whistleblower lawsuit filed in 2010 by Armstrong's former teammate, Floyd Landis, accuses Weisel—as well as Armstrong and others—of knowingly duping the Postal Service, which sponsored the cycling team he owned, by covering up doping on the team, according to people familiar with its contents."