California's stem cell agency was created with $3 billion in taxpayer money and has doled out hundreds of millions of dollars to a relatively select group of academic researchers in a quest to cure diseases. So far, the promised benefits are unfulfilled. Despite that, there is a move to go back to the public and get $4 billion more. Steve Johnson in the Mercury News does a major takeout on the stem cell agency.
"Touted seven years ago as a way to develop "breakthrough cures" for an array of life-threatening ailments, California's $3 billion taxpayer-financed stem cell agency still has no treatments on the market and is at a critical juncture that could determine how much longer it stays in operation."
"The agency will dole out the last of its money in about five years and supporters are considering another ballot measure to raise up to $4 billion to keep it afloat. Although it has financed numerous studies and helped create a dozen major research facilities across the state, voters -- given the state's dire budgetary woes -- may not be as enthusiastic today as they were in 2004 when they approved Proposition 71 to create the agency, known as the California Institute for Regenerative Medicine."
"I think it's crazy," said John Simpson, of the Santa Monica-based group Consumer Watchdog. "The state's economy is in a far different position now. "We're not even able to provide adequate funding for education."
In the aftermath of the federal crackdown on marijuana dispensaries, there is one bright spot: The price of marijuana is rising, and for the growers willing to risk prison time, a market boom is emerging.
From Michael Montgomery at California Watch: "After slumping precipitously, prices for a pound of high-grade, outdoor-grown marijuana are stabilizing and in some areas are up between 20 and 40 percent, according to interviews with growers, law enforcement agents and analysts."
“It’s been a downward thrust since 1996, but this year, prices have been up,” said Kym Kemp, a Humboldt-based blogger who closely follows Northern California’s marijuana scene."
"People are saying, ‘Maybe this isn’t our last season,’ ” she said. “I don’t think people are ready to be optimistic, but they’re less depressed.”
In recent years, California’s booming medical marijuana industry attracted a rush of new players who harvested increasingly large amounts of pot – for storefront dispensaries and the black market. Some longtime operators responded by also “growing big.”
"Surging production pushed down prices for some strains to less than $1,000 per pound. This led more growers to illegally ship their marijuana out of state, where they can double or triple their profits."
The parade of grim economic news marches on, this time with the latest updates from state Controller John Chiang: Revenues are $1 billion below projections and spending is $2 billion above.
From the OC Register's Brian Joseph: "The report does include some good news: November revenues came in $497.7 million above projections in the state budget. But that doesn’t appear to be enough prevent imminent cuts."
“While November’s totals came in 9 percent above projections, they did not erase the fact that we are still running $1 billion behind in revenues and $2 billion ahead in expenditures,” Chiang said in a prepared statement. “Regardless of whether midyear cuts are enacted next week, the Legislature faces a tremendous fiscal challenge when it returns to session next month.”
"This summer, the state budget was balanced largely on optimistic revenue projections. It included a series of additional budget cuts that would be triggered mid-year if the revenues didn’t materialize. The Legislative Analyst’s Office has already said that it believes the state needs to enact the cuts, which result in $100 million reductions to both the University of California and California State University systems as well as potentially reducing the school year by a few days."
California's campaign finance enforcer, the Fair Political Practics Commission, has loosened restrictions on state lawmakers. The LAT's Patrick MCGreevy tells the tale.
"State lawmakers and city council members can accept expensive gifts from lobbyists without disclosure if they are dating, and can receive meals and lodging in lobbyists' homes without telling the public, under rules approved Thursday by the state ethics agency."
"In addition, officials can accept tickets to Major League Baseball games and other sports and entertainment events if they are performing a "ceremonial duty," such as throwing out the first pitch. They no longer have to report such gifts, although their government agency must do so, and now they can bring a guest. In another change, it doesn't matter how much the gift is worth."
"The rules overhaul by the Fair Political Practices Commission came in the wake of politicians' complaints that they were confusing and overly intrusive."
And finally from our "Hot Wheels" file comes the tale of of a man who put his prized 1985 Tempo up for sale on Craig's List after a fracas with his girlfriend. The picture is worth a thousand words, but here are a few anyway from the ad.
"recently had my 85 tempo vandalized by one of my women. i took the insurance money and decided not to repair my tempo and am selling it cheap. runs good and everything works even passed smog. gets 35 mpg and will get sydewayz..."
"interested in trades for: rocket propelled grenade launchers, claymores, heat seeking missles, c4, biological weapons, dirty bombs, nuclear warheads, prop 215, cluster bombs, anthrax, fully auto rifles, kevlar suits and or fully functioning gatling guns and more."
Bet the car was better looking than the girlfriend....
