tag:blogger.com,1999:blog-10000891.post5123386720265660922..comments2024-02-21T19:56:57.057-08:00Comments on California Stem Cell Report: Torres Receives $225,000 Salary as CIRM Vice ChairDavid Jensenhttp://www.blogger.com/profile/00077329461962729362noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-10000891.post-40962217819243109252009-12-22T22:52:58.248-08:002009-12-22T22:52:58.248-08:00"Extraordinary Job" indeed! How was the..."Extraordinary Job" indeed! How was the assessment of his performance conducted? Via Survey? Via potential return of investment by the state bond underwriters? What are we getting for $225,000 on 80% time? By the way the bond financiers interests are not only in financing the bond but for the public good but also the fees associated with the paper, around 10-20%. To be fair, Senator Torres is very glib and can make one feel as if she is the most important person on earth---that's politics. However, when every state employee is being asked to return $$$ to the state with mandatory furloughs in order to keep the lights on, it makes no sense to increase his salary. Unless it is to boost his governmental retirement pension/salary through CALPERS which will be based on the last two years of salary. Let's see...that means instead of 80% of $80,000 pension upon retirement or $64,000 public pension, we, the taxpayers, are looking at paying his pension benefit at a round figure based on 80% of $225,000 per year for life plus health benefits for the rest of his life. According to my calculator that's a nice tidy sum of $180,000 per year and about 20% in health benefits or $45,000 more or less. That's about $225,000 per year for life upon his retirement.<br /><br />Nice work if you can get it. Extraordinary indeed!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-10000891.post-66596431770097227052009-12-14T08:03:04.986-08:002009-12-14T08:03:04.986-08:00Re Torres' salary comment below, the remarks b...Re Torres' salary comment below, the remarks by David in Irvine demonstrate several of the challenges facing CIRM's new subcommittee on communications. If the agency is to continue its work after the bond funds run out, it will need public support at time when many Californians are feeling churlish about state spending, given the hard economic times. As someone once said about another hard scientific public policy issue, it takes more than facts. Among other things, it takes faith, trust and confidence that CIRM acts in the public's best interest.David Jensenhttps://www.blogger.com/profile/00077329461962729362noreply@blogger.comtag:blogger.com,1999:blog-10000891.post-85584176080073229022009-12-13T21:23:15.220-08:002009-12-13T21:23:15.220-08:00Came across this blog when I googled "art tor...Came across this blog when I googled "art torres stem cell", after noticing a speck of a story on his pay raise in the LA Times the other day. This is sordid, but not surprising. I'm not about to read 4 yrs. worth of your blog, but my impression was always that this initiative was more about saying FU to the Bush administration's position than actually accomplishing anything. Californians need to realize that in voting for polka dots and unicorns in the form of stem cells, high speed rail, ad nauseum, they are just shoveling money to the Democratic party/Labor establishment. Anyone who wants to fund stem cell research should write a check to UC Irvine, UCSF, whatever, instead of burdening me and my children with the interest payments on the Art Torres and Friends perpetual salary initiative.<br /><br />David<br />Irvine, CAAnonymousnoreply@blogger.com