Monday, 22 September 2014
Last updated 1 hour ago
Jul 27 2010 | 11:06am ET
Farallon Capital Management founder Thomas Steyer has joined the fight to stop the repeal of California’s climate change law.
Steyer will donate $5 million to Californians for Clean Energy and Jobs, which is battling Proposition 23—a ballot initiative that would suspend the law—passed four years ago—until California’s unemployment rate drops below 5.5%. That figure has only been reached three times in the last 40 years.
Proponents of Prop. 23—and opponents of the climate change law, AB32—say that AB23 is hurting California’s economic recovery. Meg Whitman, the former eBay CEO and Republican candidate for California governor, calls the law a “dangerous job killer.”
But Steyer—a major Democratic donor—argues that “since AB32 was passed, $3 billion of venture capital has been spent in California,” creating thousands of jobs.
Steyer will also serve as co-chair of Californians for Clean Energy and Jobs, alongside George Schultz, former Secretary of State under President Ronald Reagan and a supporter of Whitman’s gubernatorial campaign. California’s Republican governor, Arnold Schwarzenegger, signed AB32 in 2006.
“They’re wrong,” Schultz told the San Francisco Chronicle of Whitman and GOP Senate candidate Carly Fiorina, who also supports Prop. 23.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.