The University of California, which has a multibillion-dollar endowment, must disclose to the public details of its investments, following a lawsuit brought by a news agency.
From Sarah McBride at Reuters: "The University of California must make public the closely guarded performance of some top-tier venture capital funds in which it has invested a portion of its $10.65 billion endowment, a judge said on Monday."
"No information on the funds, managed by Kleiner Perkins Caufield & Byers and Sequoia Capital, will come out immediately. The court is giving the university a stay until March 11 to allow the regents a chance to appeal."
"I regard this as a victory," said Karl Olson, outside counsel for Reuters America, which brought a lawsuit seeking disclosure. Reuters America is a unit of Thomson Reuters Corp . A
A representative for the University of California declined to comment. Representatives from Kleiner and Sequoia, which are not themselves parties to the case, declined to comment.
Meanwhile, the ability of cities and counties to prohibit medical marijuana dispensaries received support before the state Supreme Court.
From the Chronicle's Bob Egelko: "The California Supreme Court left little doubt Tuesday that it would uphold the authority of local governments, including more than two dozen in the Bay Area, to ban medical marijuana dispensaries within their borders."
"At a one-hour hearing at the University of San Francisco, a lawyer for a pot supplier in Riverside - one of about 200 cities and counties in the state that have outlawed dispensaries - argued that such ordinances conflict with state laws that allow medical use of marijuana."
"Local government authority to regulate land use has never extended to "totally banning activity which is lawful under state law," attorney J. David Nick told the court. He said a dispensary ban frustrates the goal of a 1996 medical marijuana initiative and 2003 legislation "to make this available throughout the state."
Great white sharks have been called a lot of things, but "endangered" isn't one of them. But that may change.
From the Mercury-News' Paul Rogers: "California's Fish and Game Commission on Wednesday will decide whether to take the first steps to add the ocean's most storied marine predator to the state endangered species list. Meanwhile, the National Marine Fisheries Service is expected to decide this summer whether to include great whites on the federal endangered list."
"If the sharks -- which in California waters can grow to 21 feet long and 4,000 pounds -- join other struggling species, like California condors and sea otters, on the lists, it could mean tougher rules on gill net fishing. It might even create a new legal tactic for environmental groups to fight coal-fired power plants, since some white sharks have high levels of mercury, which comes from burning coal, in their tissues."
"There is a lot of evidence that white shark population numbers are very low," said Emily Jeffers, an attorney in the oceans program of the Center for Biological Diversity, an environmental group in San Francisco that supports an endangered listing."
Speaking of sharks, Gov. Brown was out taking care of business when he was asked about Texas Gov. Rick Perry's efforts to poach California businesses. The conversation then devolved to flatulence,.
From the Bee's David Siders: "One day after Texas Gov. Rick Perry released a radio ad in California criticizing the Golden State's business climate and encouraging businesses to relocate to Texas, California Gov. Jerry Brown said today that Perry's campaign is "barely a fart."
"It's not a serious story, guys," the Democratic governor told reporters at a business event here. "It's not a burp. It's barely a fart."
"The ad buy Perry announced Monday is relatively small, at about $24,000, but it gained widespread attention in the media. Brown called the amount "the smallest entry into the media market of California."
The Department of Water and Power seeks a truce in the water wars with the Owens Valley, a conflict that formed the basis of the movie "Chinatown" and has been the stuff of legend for generations.
From the LAT's Louis Sahagun: ":The approaching armistice is astonishing to residents of 40 Acres. But it is not unique these days. DWP is on a campaign to settle three of the most bitter water wars in the Owens Valley before celebrating the 100th anniversary of the Los Angeles Aqueduct in November with a gala at the Dorothy Chandler Pavilion."
"If all goes according to plan, legal disputes over water rights with 40 Acres, the Mammoth Community Water District and at Rush Creek, a major tributary to Mono Lake, will be resolved by summer, DWP officials said."
"Those settlements would improve the DWP's image and add luster to Mayor Antonio Villaraigosa's legacy as he prepares to leave office. "I think they want to be able to say at that centennial celebration 'We've buried some hatchets,' " said 40 Acres resident Frank Stewart."