The Media Freedom Foundation » investment http://www.mediafreedominternational.org Media Democracy in Action Mon, 06 Feb 2012 22:30:06 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 University of California Regents Use Public Funds for Private Profit http://www.mediafreedominternational.org/2010/12/12/university-of-california-regents-use-public-funds-for-private-profit/ http://www.mediafreedominternational.org/2010/12/12/university-of-california-regents-use-public-funds-for-private-profit/#comments Sun, 12 Dec 2010 23:26:06 +0000 admin http://www.mediafreedominternational.org/?p=1197
Experts identify multiple conflicts of interest among an elite group that oversees investments for the University of California. A few members of the Investment committee from the University of California (Richard Blum, Paul Wachter, and Gerald Parsky) have been making private and unregulated real estate and equity deals since 2003.

In 2009 the University of California Regents cut costs by laying teachers off, increased student tuition by 32 percent, eliminated classes, and made it clear that out of state students would have to pay higher tuition fees. The Regents spent more money on construction projects and giving bonuses to top workers, while they paid janitorial employees less. They assured Wall Street bond underwriters that periodic tuition increases would help pay off hundreds of millions of dollars in new construction loans. Many people at the UC protested against the Regents saying they are privatizing the University to benefit Corporations.

The UC Regents are straying from the traditional investments and are taking chances by making risky business investments and are taking over the UC’s investment strategy. The Investment committee hired private managers to handle the unregulated deals. Many of the deals are loosing the UC’s endowment and retirement funds. The Regents funded $2 billion in private deals in which Arnold Schwarzenegger, Richard Blum, Sherry Lansing, and Paul Wachter made money. UC invested $748 million into seven equity deals in which Blum also had investments. As a member of the regent’s investment committee, Blum oversaw these investments.

Title: The Investors’ Club: How the University of California Regents Spin Public Money into Private Profit.
Publication: Spot. us, August, 18th, 2010
Author: Peter Byrne

http://spot.us/stories/544-the-investors-club-how-the-university-of-california-regents-spin-public-money-into-private-profit

Student Researcher: Jacquelyn Waring, Sonoma State University
Faculty Evaluator: Heather Flynn, Sonoma State UniversitySimilar Posts:

]]> http://www.mediafreedominternational.org/2010/12/12/university-of-california-regents-use-public-funds-for-private-profit/feed/ 0 Chevron and USAID Fund AgroAid in Nigeria and Angola http://www.mediafreedominternational.org/2010/01/22/chevron-and-usaid-fund-agroaid-in-nigeria-and-angola/ http://www.mediafreedominternational.org/2010/01/22/chevron-and-usaid-fund-agroaid-in-nigeria-and-angola/#comments Sat, 23 Jan 2010 00:21:02 +0000 admin http://www.mediafreedominternational.org/?p=466 Clinton promised $6 million of investment in Angolan agriculture through a partnership with USAID and Chevron, the second-largest US oil company. Despite billions of dollars in oil wealth, Angola ranks among the worlds lowest in terms of development indicators. The corruption watchdog group Global Witness revealed Angolan state oil company had given permission to bid for oil and gas licenses to a private company whose shareholders had the same names as top government officials. There seems to be ongoing corruption in Angola for the sake of promoting US energy interests and the availability of Angola’s vast resources. This proposed agro aid threatens more corruption leading to further degradation of environmental and human conditions.

Title: African Development Hindered by Vast US Corporate Interests in Continent’s Land,

Resources Source: Amy Goodman, Democracy Now!, 8/12/2009http://www.democracynow.org/2009/8/12/land

Student Researcher: Amanda Bruna

Faculty Evaluator: Debora HammondSonoma State UniversitySimilar Posts:

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