>> well, calpers has to chase growth. to hit that 7.75 number they're going to have to look overseas. china, india, brazil, other emerging economy. they are also going to have to make more use of other securities besides stocks and bonds such as commodities, currencies. and what deer is nudging the calpers board to look at, and this is very intriguing, is perhaps trading on a daily basis more derivatives, etfs and other instruments that would what law them to huge a lot of this risk as they chase growth overseas. >> tom: looking at a more short term time frames. we appreciate sharing the reporting with us. tonight in san francisco. it is ed robinson. you can read more of his story in the latest bloomberg markets magazine on news stands -- be stands tomorrow. >> susie: tom, you know what they say about september down here on wall street, it is a time when we get all the meltdowns and sell-offs. but so far the dow is up 5.3% for the month of september, so far so good. >> tom: yeah, so far so good. this has been a month to r

well, the giant pension fund for california state employees called calpers, they are under court order after losing $100 million. a public watchdog group called calpers in july after it refuseed to release documents on the page mills project in east palo alto. calpers claimed it was blindsided by the page mill collapse. >>> smart did the meters will not be installed -- smartmeters will not be installed in parts of santa cruz yesterday. yesterday, the board of supervisors voted unanimously but the ban is only on unincorn rated areas -- unincorporated areas. >>> toyota has moved to dismiss hundreds of lawsuits over claims of sudden acceleration. the motion claims that toyota owners failed to identify any defects in their vehicles. millions of toyotas were recalled because of reports of acceleration problems. the company attorneys now contend there is no evidence of a flaw. >>> 8:47. last week's pipeline explosion and fire in san bruno really tested the nerves of even some veteran firefighters. kraig debro is in san bruno now and he just talked with one of the first firefighters to get th

the blackstone group, which is an international money management firm, has given testimony to calpersnd they basically said the% assumption that calpers has used an editorial evaluation is way off the mark -- and basically said the 8% assumption is way off the mark. san francisco reduced their return assumption to 7.75% two years ago. the fact that the history does not really show returns of that amount is significant and was not discussed here. the other point i want to make is just the cost of pensions. we did not talk all about the appendix in the report which shows the actual pensions ever paid. there was no discussion about the $100,000 club. 900 retired city workers make pensions in excess of $100,000. one out of every four firefighters who retires from san francisco is getting a pension of $100,000 or more. the fire department and police officers retired life behind fire. there is always this assumption of parity between safety, fire and police, and that is true up to a point, when they retire. we investigated the fire department found a high incidence of pension spiking and we

the people of california, i think, have every right to be unhappy about it. >> calpers would have to approve any loan to the state and the organization has already released a letter yesterday blasting that proposal. >>> well, the bay area housing market is struggling, if you've heard. and the latest numbers prove it. nbc bay area's business and tech reporter scott budman is here. scott, what's wrong? >> reporter: lisa, we are still too nervous to pull the trigger on a new house. home sales here still falling. now an 18-year low because potential buyers are worried about the future. lack of job security still trumping falling prices and interest rates. bay area sales dropped slightly more than 1% last month. we're now down 11% from this time last year. tough times continue for the overall economy as well. the poverty rate in america is now the highest we've seen in 16 years. 14.3% of us are now considered poor. one in every seven people in america were found to be poor last year. that's a rise of 8% from the year before. poverty means an income of just above $10,000 for someone who's

the report looks at the california public pensions employees retirement system otherwise known as calpers. they said almost all calpers investment managers got bonuses of $10,000 and several got more than $100,000. it may have happened in the 2008, 2 thousand 9 fiscal year when they lost $59 billion. >>> hewlett packard will not stop the former ceo from taking a job at oracle. he agreed to give up hp stock and take a job as oracle's copresident without spilling hp's trade streets. he was forced out in a sexual harassment investigation. >> wal-mart is making hopes of moving into san francisco. the chain is being looking for locations to open a down-sized store. the plan will be announced in the meeting with analysts. wal-mart will have to get over several hurdles before opening stores in san francisco. the city requires special permitting for chain stores to open. >> 6:06 and the giants necessary a playoff, but you can get the postseason tickets. they go on sale this morning. you can buy it through the giants website. sale starts at 10:00 and they're a half game ahead in the nl west and pl

a calpers' board member said the fund was under contract and they were obligated to pay those bonuseswal-mart has plans to build more urban store including in san francisco. the world's biggest retailer is looking to open as many as 470 smaller new stores around the country. wal-mart executives are not giving many details but there are reports two dozen are planned for the bay area. the stores would be about a little smaller actually than a regular grocery store and would focus on selling fresh food. >>> time now 8:50. sacramento's arco arena is about to get a new name. after 25 years arco has decided it won't renew its naming rights deal when it expires in february. the kings say they will leave the arco name in place until the end of the nba season. arco paid an estimated three quarters of a million dollars a year to have its name on the building. oracle now phase $25 million to have its name on the arena. about an hour from right now giants fans, believe it or not you'll have your first chance to buy ticket for the playoffs. tickets can be bought on the team website or on the phone

is a developer that has successfully developed and partnered with clients such as calpers, california department of resources to develop on top of downtown office properties. so when, in working with them, i definitely want to draw upon their expertise in working within the city and the

the governor has proposed borrowing $2 billion from calpers a state worker retirement plan.it is an idea opposed by by california's largest union of workers. even with the breakthrough of negotiations, given the logistics, the days it takes to drafting legislation and voting, it is all certain that that record will fall as well. in sacramento, ken pritchett, ktvu channel 2 news. >>> the uc board of regions approved a plan to have uc employees to donate to their pensions. some uc employees spent the day protesting against the plan outside ucsf mission bay campus. workers contribute 2% of their pay to the pension plan. that will rise to 3.5% by july of next year. and 10% by 2012. the protesters claim the regents are making them play more even as they increase benefits for uc executives. >> the fact that most of my coworkers are already working just above poverty level. they've been working hard for the students and patients of this university system. >> the regents say the pension contributions are necessary to save the retirement plan from an unfunding long term liability of

. >> a small body of water, or calpers star julia castillo labored, in this boat house.as your teammates century. which hold memories of congress and national titles very for the last three months, the team has carry these memories of jail, who late june at age 22 at walter yearlong battle with lung cancer. she did not smoke, and back 60 percent of those diagnosed with lung cancer never smoked a quid decades ago. this besides her kimmel and radiation treatment should continue to be strongly competed. >> in audible. >> she really had a profound impact on my life and i think about her, and i mr. tremendously. >> smiley, enthusiastic, loving, and got just one the most blows of people that i've ever been around. jill >> along with lou kindred engineered the job for jill fund-raiser. >> coming up the giants' dacron the milwaukee birthrate have a game behind the division. five of the to believe. and a worker at the trans bait turmoil is concerned about the dangerous shortcut. our celebrants investigate politics people behaving badly. jaguar platinum coverage is not just a warr

calpers tried to reduce the bonuses but were under contract pay them.of the more over $10,000 but some of the bonuses were more than a hundred thousand bonuses. the cash awards were distributed as the fund lost $59 billion. a nonprofit that operates charters is being recognized with a $1 million donation from oprah winfrey. it is one of six public schools that was honored with grants from the talk-show host yesterday. we will be back as the kron 4 morning news continues. traffic is thick boughs moving close to the speed limit. male announcer ] as the ceo of hp, carly fiorina laid off 30,000 workers. when you're talking about massive layoffs, which we did... perhaps the work needs to be done somewhere else. [ male announcer ] fiorina shipped jobs to china. and while californians lost their jobs, fiorina tripled her salary. bought a million dollar yacht. and five corporate jets. i'm proud of what i did at hp. [ male announcer ] carly fiorina. outsourcing jobs. out for herself. [ barbara boxer ] i'm barbara boxer and i approve this message. it's been a dre