supervisor campos: we have a presentation from jason fried. >> for brevity of time, i will skip over giving a full presentation. we've got comments back from the public and other folks better interested in this issue. we did do a little bit of an update in the report. you have the final version of the report in your packet for review. i did want to address a couple of the issues that were brought up at the last meeting to help address the questions that were asked. the first one was asked by commissioner pimentel. it addresses the question of the curiosity, how many people were ranked one or two or three people on the ballot? using his numbers, although there was an error in one of his lines. the percent under the rank 3, they are often little bit. -- those are often little bit. all of the other numbers are pretty close to the correct number. most folks tend to put three people, but not all people do. there was a question as well about it being able to rank more people like portland, maine, does it. their state law and what they do there is they do not release any of the information

will turn it over to michael campbell of the san francisco public utilities commission, as well as jason fried from lafco. >> hello. michael candidate, director of cleanpowersf at the sfpuc. i have a short update. hopefully a sweet update. in terms of where we stand, as you know, we have been waiting for the board of supervisors to act. during that interim time, the good outcome of that time has allowed us to go back and renegotiate with shell and get better terms regarding the collateral amount. notably, we have been able to discuss with shell and get them to agree to reduce the amount of collateral that would be going into escrow from $15 million down to $7 million, a reduction of $8 million. that is 3 positive. it increases to $4.5 million. that frees up $6 million from the initial 19.5 appropriation. the appropriation ordinance that will go before the commission, before the board of supervisors , it keeps the $19.5 million appropriation, but we are using that additional $6 million that has been freed up to allow us to start out of the gate at $2 million for energy efficiency for participat

wouldn't have gotten here without barbara and mike and without the lafco staff of nancy miller and jason friedand the rest of the folks who worked on this and i want to thank them for fostering that close relationship, and i know that's going to be necessary to move forward in the future too so i want to really thank the staff for their hard work on this. >> thank you commissioner. and now commissioner olague. >> yeah. i came in at the tail end of the conversation, but for me it's one of the votes i am most proud of over the time i have been here. this say conversation long over due and this is the beginning of the conversation to trying to create a more sustainable culture and a city that reflects those values and if you look at alternative ways of delivering power really and i think ultimately y supervisor campos for really managing to shepherd in the eight vote its took to really make this a pretty solid vote and commissioner schmeltzer you have been here for a long time and have engaged in these conversations for a while, and i really give a lot of credit to the advocates and i think comin

will turn it over to michael campbell of the san francisco public utilities commission, as well as jason fried from lafco. >> hello. michael candidate, director of cleanpowersf at the sfpuc. i have a short update. hopefully a sweet update. in terms of where we stand, as you know, we have been waiting for the board of supervisors to act. during that interim time, the good outcome of that time has allowed us to go back and renegotiate with shell and get better terms regarding the collateral amount. notably, we have been able to d

jason fried is director of investment strategy.ut the industry highs and consumer discretionary health care in the s&p 500 hit all-time highs. how do we play those? >> thanks for having me on. we are advocates for taking some risk in portfolios as we always are. we take risks to generate long-term returns. at the same time we are not in a position -- the ecb and the fed may be putting in a floor backstop in the economy from a significant slide. won't necessarily be able to drive us to 4% gdp growth dealing with a stronger market. we continue to be in a 1% to 2% or 2-1/2% speed of growth rate. the environment is sluggish return for stock markets. that doesn't mean -- that doesn't mean you want to be hiding in cash and treasury with the vast majority of portfolio. you don't want a whole lot of equities as well. we have been recommending middle risk spectrum strategies for investors including credit instruments, high yield or conservative equities as a way to play. cheryl: let's talk about stocks. a middle of the road play to you. >>