The great el monte public pension swindle _


There are places in Southern California where, although the sun always shines, they haven’t seen a ray of light for over 50-years. Dollar exchange rate today There’s a no man’s land of urban blight along Interstate 10, from East Los Angeles through the San Gabriel Valley, where cities you’ve never heard of and would never go to, are jumbled together like shipping containers on Terminal Island. 1 usd in inr El Monte, California, is one of those places.

How El Monte came to be is a story shared with many of its adjoining San Gabriel Valley cities.

Dollar vs euro chart Boom, bust, and rapid transformation from an agricultural area to working class artery of a burgeoning megalopolis, vomited out a multitude of enduring mistakes. Current exchange rate usd to cad Many of them will never be rectified.

When El Monte was incorporated as a municipality in 1912, the prospects for the place must have seemed limitless. Usd today Here was open and fertile land, ideally situated in a low valley between the San Gabriel and Rio Hondo Rivers. Ringgit usd exchange rate Equally important, it was ideally situated just several miles from the budding City of Los Angeles.

Residents of early El Monte claimed anything could be grown there. Stock market meanings With a little hard work and persistence, money would flow to the rural municipality in exchange for feeding Los Angeles’ growing appetite. Kurs usd ke rupiah Could the gods have ever smiled brighter upon an enchanted hamlet?

At first it appeared this blueprint for prosperity was working. Exchange rate us to canadian dollar Denizen field workers experienced the fruits of a lively civic and agricultural district. Samsung washing machine codes Alas, it wouldn’t last for long.

With the onset of the Great Depression, and the influx of Dust Bowl migrant laborers who’d work for next to nothing, the heyday for El Monte came to a quick end. Convert indonesian rupiah to usd Social and labor conflict, culminating with the El Monte Berry Strike of 1933, set the city’s decline and fall in stone. Binary tools Prosperity has yet to return.

Any redeeming qualities of El Monte’s rural character were literally buried around mid-century. Futures market cnn For some reason, no one quite knows for sure, the mania to splatter every square foot of the LA Basin with concrete – including its rivers – took hold of the local spirits. Msn news usa El Monte was soon enveloped by a sea of urban sprawl. Nzd usd live chart What was once the outskirts and boonies, rapidly became a forgotten and decaying barrio.

For a brief period in the late 1950s El Monte appeared to be mounting a comeback. Dollar exchange rate in india The weekend hosting of teenage rock n’ roll concerts by Art Laboe at El Monte Legion Stadium brought El Monte to the center of the universe. Usatoday com news The spirit of the times is immortalized in the metasong Memories of El Monte, written by a teenage Frank Zappa, and recorded by the Penguins.

But as the rock n’ roll era quickly passed, El Monte resumed its long-term decline. Trading places stock market scene On August 13, 1974, the wrecking ball was taken to El Monte Legion Stadium. Convert aud to usd To this day, nothing good has since occurred in the area.

By the turn of the 21st century the per capita income for the city was at $10,316 and over a quarter of the population was living below the poverty line. Inc connector Roughly 70 percent of the population is Hispanic and 25 percent is Asian. Usd news Many residents are lacking in proper documentation.

These days El Monte’s primary purpose in life is to provide ample right-of-way for a roughly 5 mile stretch of Interstate 10. Binary dictionary The city’s other notoriety stems from its weekend swap meet and the remarkable deals it offers. Us stock market futures contract There, between juicy bites of elote – grilled cob corn caked with chili powder – you can buy back the tools that were stolen from your truck earlier in the week at half the price you paid to buy them new.

Perhaps one consequence for residents of cities with high poverty and low citizenship is that they’re distracted. Funny quotes about life lessons Specifically, they’re more concerned with making ends meet and flying under the radar of the local fuzz than staying abreast of the dealings of their local government. Exchange rate mxn usd In El Monte, often referred to as Hell Monte by locals, the municipal government took the unique opportunity this scenario afforded them and used it to exploit the hell out of its city residents.

The legendary Legion Stadium, where rock’n’roll and wrestling once flourished. Dollar yen exchange rate In the late 1950s and the 1960s it was the venue for Art Laboe’s shows. Market futures quotes Top west coast performers and bands were regularly featured. Binary to hex It was finally razed in 1974.

The gods were smiling down on then El Monte City Manager Harold O. Fraction to whole number calculator Johanson on May 9, 2000. Kroner to usd For that was the day El Monte City Council unanimously adopted his supplemental pension plan proposal without public debate. Love quotes tagalog The outcome of Resolution No. Euronews online russian 8017 resulted in a 50 percent boost to civilian retirement checks. Usd myr chart According to the Los Angeles Times:

“Johanson retired three years later, at 58. Usd cad analysis Today, he is the top beneficiary of the program he championed, collecting a combined pension of more than $250,000 per year, state and city records show. Troy isd That puts him in the top one-hundredth of one percent of all public pension recipients in California.”

Johanson, however, isn’t unique to El Monte pensioners. Convert binary to decimal At least eight El Monte public pension recipients collect more than $200,000 per year. Crossword puzzle usa today Meet James Mussenden, for instance:

‘“ It’s giving me an opportunity to do a number of things I didn’t get to do when I was younger, like travel to Europe, take some things off my bucket list,’ Mussenden, 66, said recently. The millionaire real estate agent pdf He even flew to Scotland to play the famed Old Course at St. Gender identity disorder test Andrews, a mecca for golf enthusiasts.

“ Mussenden recognizes that few Americans have pensions anymore — least of all the El Monte taxpayers who are funding his retirement. Chf usd chart So while he enjoys his monthly retirement check, he’s discreet about it.

Pictures of James Mussenden in the public domain are almost as rare as hen’s teeth, but we found two, including this one. Usps shipping cost Guess where? In a 2009 newspaper article that reported on the v ery moment of his retirement – it happened when he was arrested for soliciting in a prostitution sting in Ponoma. Usd gbp exchange rate Oops! He took the opportunity to resign with what was apparently one of the fattest civil servant pensions on the entire planet. Us dollar rate today in india There was talk that he might be charged at the time, but we don’t know if it ever happened (probably not).

No doubt, El Monte has pushed the limits of their pensions to levels that are absolutely criminal. Usa today newspaper Here again, we refer to the Los Angeles Times for the particulars:

“ El Monte has a history of generous employee benefits — including a four-day work week for civil servants, who put in 10 hours a day and have Fridays off. Stock futures cnn money Liberal pension provisions are another part of that tradition.

Under state law, police are supposed to contribute 9 percent of their paychecks toward their pensions, and civilian workers 7 percent. Gbp to usd But El Monte covers the employee contribution as well as the employer share, a legacy of collective bargaining agreements dating to the early 1980s.

“ On top of that, retired El Monte employees receive annual cost of living increases at the high end of what CalPERS allows: up to 4 percent for police retirees and 5 percent for civilians, depending on inflation. World stock markets cnnmoney Most CalPERS pension recipients receive increases of 2 percent annually.”

Make of it what you will. 1 usd to zmk As far as we can tell the recipients of these pensions are swindlers and crooks. Gbp usd exchange rate live Without their complete repudiation, El Monte will never break free from its long-term economic malaise.

Certainly, the retired parasites will one day kill the host. Math smartboard games Though, for city taxpayers, it will be a slow and painful death – one they shouldn’t have to endure.

Indeed, from a strictly moral sense, city taxpayers shouldn’t have to honor such downright corrupt promises that government employees made to each other. Futures market hours today The fact that they presently are, embodies everything that’s wrong with everything.

MN Gordon is President and Founder of Direct Expressions LLC, an independent publishing company. Usa today sports odds He is the Editorial Director and Publisher of the Economic Prism – an E-Newsletter that tries to bring clarity to the muddy waters of economic policy and discusses interesting investment opportunities.

All materials are found on open spaces of a network the Internet as freely extended and laid out exclusively in the fact-finding purposes. If you are what lawful legal owner or a product and against its placing on the given site, inform us and we will immediately remove the given material. The administration of a site does not bear responsibility for actions of the visitors breaking copyrights.