January 24, 2014 |
PepsiCo Inc. announced plans Friday to invest $5 billion to expand in Mexico over the next five years, a move that will boost its production capacity and add 4,000 new jobs to the country's economy. The beverage and snack maker said Mexico is "one of the most attractive markets in Latin America , with a growing middle class and numerous opportunities for long-term economic growth. " The New York-based company has been investing aggressively in recent years to strengthen its business in emerging markets.
CALIFORNIA | LOCAL
January 23, 2014 |
SAN FRANCISCO - The UC regents on Thursday hired an executive of a Canadian investment fund to be the chief manager of the university system's $82 billion in endowment and pension investments and will pay him more than $1 million a year if he achieves good returns. Although that pay package triggered little public discussion, the salary for another new executive hire attracted more opposition at the regents meeting here. Some regents opposed the $450,000-a-year salary for Claude Steele, who is becoming UC Berkeley's provost and second-in-command.
CALIFORNIA | LOCAL
January 23, 2014 |
The UC regents on Thursday hired an executive of a Canadian investment fund to be the chief manager of the university system's $82 billion in endowment and pension investments and to pay him potentially more than $1 million a year if he achieves good returns. Jagdeep S. Bachher, who is an executive vice president of the Alberta Investment Management Corp. in Edmonton and handles public sector funds there, is to become UC's chief investment officer and vice president of investments on April 1. With little public discussion, the regents approved a $615,000 base salary for him and set a maximum total payout of $1,014,750 if UC investments meet a goal of excellent returns.
January 22, 2014 |
From an office tower overlooking the sumptuous Fashion Island mall in Newport Beach, Mohamed El-Erian sat atop a massive treasure trove of wealth as chief executive of Pimco. Soft-spoken and cerebral, El-Erian presided over a financial juggernaut that rose to become one of the biggest and most influential investment firms in the world. His ubiquitous appearances on cable news shows could sway financial markets in a split second. On Tuesday, El-Erian unexpectedly announced his resignation as CEO. Pimco offered no explanation for the departure, sparking conjecture on Wall Street about whether the current challenges at the investment giant played a role.
January 21, 2014 |
Mohamed El-Erian unexpectedly resigned from his post as chief executive and co-chief investment officer of global investment management firm Pimco on Tuesday, the firm said in a statement. El-Erian will leave the firm in March and will remain a member of parent company Allianz's international executive committee. He will also serve as an advisor on global economic and policy issues. William H. Gross will continue to serve as chief investment officer, the firm said in a statement. "I have been extremely honored and fortunate to work alongside Bill Gross, who is one of the very best investors in the world," El-Erian said in a statement.
January 13, 2014 |
SACRAMENTO -- The California Public Employee's Retirement System, the nation's biggest government pension, reported a 16.2% return on its investments for 2013. It was the best calendar year performance in 11 years for the $281-billion CalPERS, which provides benefits to about 1.7 million state and local government workers, retirees and their dependents. "A 16.2% rate of return is really good," said Marcia Fritz, a Sacramento pension reform activist. "They are in it for the long haul.
January 13, 2014 |
SACRAMENTO - California's huge pension fund reported a 16.2% return on its investments in 2013 - its best results in more than a decade. The California Public Employees' Retirement System, which provides benefits to about 1.7 million state and local government workers, retirees and their dependents, said its total investments were worth $282.6 billion as of Friday, the highest ever. Better known as CalPERS, the country's biggest public pension fund was especially helped by the stock market's best year since 1997.
January 7, 2014 |
General Manager Jerry Dipoto called the Angels' recent signing of Mark Mulder to a minor league deal a potential “win-win” situation for the team and the 36-year-old left-hander, who hasn't pitched since 2009 and hasn't won a big league game since 2006. “The way the contract is structured, he has to make the big league club to earn anything and to start games to get into the dollars available to him,” Dipoto said of a deal that would pay Mulder $1 million if he makes the team and up to $6 million if he pitches a full season.
January 2, 2014 |
Texas billionaire T. Boone Pickens thinks his long bet on natural gas is finally paying off. The legendary oilman has long declared it his mission to wean America off its addiction to foreign oil. He co-founded an Orange County company that builds natural gas stations around the country and sank billions into wind turbines. Pickens' gambles have not always paid off. He lost an estimated $150 million of his personal fortune in wind farming, and admits that he was a couple of decades early into natural gas. But he thinks the time has come for natural gas to shake up the energy industry.
December 25, 2013 |
Smack in the middle of the holiday rush, college applications are due - anxious weeks for high school seniors and their families. To heighten the anxiety, no month passes without a critic proclaiming that college is a pedantic waste of money, while opinion polls show a rising fraction of the public doubts the value of a college education. Yet many studies find that college still outperforms other investments, at least for the typical student. Any student trying to make sense of this confusion should recognize that investing in a college education differs from other investments in two important respects.