Group brings anti-Lennar message to Vallejo

Wanglow wrote:

Yes, indeed! Once the heads of Planning and Building and their surly, arrogant underlings ("STAFF") are ingloriously removed, then, and only then will the opportunity for a NEW DIRECTION be upon us. Keep up the pressure Sam, my man; do us proud. Lets kick these self-serving, wanna-be policitos to the curb and replace them with some old-time common sense LOCAL Citizens.

Sam keep the pressure on? Just who is Sam? Like someone would feel pressured because Sam is ranting, please! Do you really think he influences the council? Get real! Do you think Lennar takes him seriously? Don't make me laugh! People put up with him because of his "I'll go crazy" act but no one takes him seriously. No one! Yeah, keep setting him up so he can be dressed down by one of the dept. heads or the council. Sam can't even tell when he's being played for a fool.

Good job Sam, you're on the right track here. The council needs to hear from more of us as well.

CalPERS stands to lose a chunk of its $947 million investment in a Los Angeles land development that's filed for bankruptcy protection.
But the giant pension fund said any potential loss would represent a tiny sliver of its overall portfolio and would pose no threat to retirement or health benefits.
"It's a small investment," said Pat Macht, spokeswoman for the $245.4 billion California Public Employees' Retirement System. "We have lots of investments here." The bankruptcy-protection filing nevertheless represents a setback for CalPERS, which moved aggressively into real estate in recent years in order to diversify its portfolio. Real estate accounts for about 8 percent of its investments, although the Los Angeles project represents less than 0.50 percent of the total.
CalPERS and two partners spent $970 million in January 2007 to buy 68 percent of LandSource Communities Development LLC, a partnership developing Newhall Ranch master-planned community in the Santa Clarita Valley area of northern Los Angeles County. Macht said CalPERS' share of the investment was $947 million.LandSource was founded by Lennar Corp., the big Miami-based home builder. Lennar and an affiliated company control the 32 percent of LandSource not owned by CalPERS and the other MW Housing investors.