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The state Supreme Court said Wednesday it was impractical for courts to handle hundreds of thousands of individual lawsuits in the fight over the reserve funds held by a North Carolina-based tobacco marketing cooperative. The decade-long lawsuit involves money collected by the Flue-Cured Tobacco Cooperative Stabilization Corp. Tobacco growers across North Carolina, South Carolina, Florida, Georgia, and Virginia paid into the cooperative over six decades dating back to the mid-1940s. Membership has dropped 99 percent since U.S. taxpayers quit underwriting tobacco crop prices in 2004. The lawsuit now returns to a state trial court in Raleigh. Devils Lake operation to turn cow manure into official website products DEVILS LAKE, N.D. (AP) A company that plans to turn cow manure into a range of products is getting ready to set up shop in Devils Lake. The Devils Lake Journal reported hat Bio Fiber plans to turn what it calls agripulp into products including structural materials, flower pots, and pellets for bedding and heating. The operation will be housed in the former Ultra Green building.
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When youre in that position, you need to be asymmetrically concerned about downside risk as upside risk. CalPERS has reduced volatile stocks and private equity from its portfolio. It made more than $9.2 billion in net equity sales in September and October, according to fund documents. In December, the board reduced the discount rate to reflect the new portfolio allocation. The new expectations still did not reflect investment advisers short-term forecasts. Wilshire estimated only a 17 percent probability that CalPERS would earn its new 7 percent discount rate over the next decade. At the time, CalPERS board member J.J. Jelincic proposed reducing expectations further to align the discount rate more closely with advisers forecasts. 6.25 is the reality, Jelincic said at a December meeting. But the board worried that the costs of such a move would require even higher contributions from California governments and workers.
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