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☆ California has spent billions to fight homelessness. The problem has gotten worse
  + stars: | 2023-07-11 | by ( Nick Watt | ) edition.cnn.com   time to read: +11 min
Los Angeles CNN —California has spent a stunning $17.5 billion trying to combat homelessness over just four years. “The problem would be so much worse, absent these interventions,” Jason Elliott, senior adviser on homelessness to Gov. David Swanson/AFP/Getty ImagesThe admittedly reductive math would leave nearly $4 billion for services like mental health treatment. Still, tackling mental health issues among the unhoused is a major plank in the Newsom administration’s effort. “One of the surprising things was how optimistic people were that relatively small amounts of money would have prevented their homelessness,” Kushel said of the people surveyed.
Persons: Jason Elliott, Gavin Newsom, ”, Elliott, “, David Swanson, we’ve, “ It’s, CNN Cristina Smith, Dr, Margot Kushel, ” Kushel, Newsom, Karen Bass, Sam Liccardo, Dai Sugano, There’s, Kushel, Rather, “ We’ve, ” Elliott, molesters, gosh, Bass, “ They’re Organizations: Los Angeles CNN, Gov, CNN, Getty, Democrats, KCBS, “, UCSF Center, California Gov, San Jose, Area, AP Locations: Los Angeles CNN — California, California, AFP, Los Angeles, America, San Jose, Angeles, LA, “, Golden State
☆ 90% of people experiencing homelessness in California are from the state, rather than outsiders moving there for services
  + stars: | 2023-06-23 | by ( Eliza Relman | ) www.businessinsider.com   time to read: +4 min
California is home to 30% of people experiencing homelessness and half of those unsheltered in the US. 90% of unhoused people in California lived in the state before losing their housing, the report found. The state makes up less than 12% of the nation's total population, but is home to 30% of people experiencing homelessness and half of the unsheltered population in the US. In reality, 90% of those experiencing homelessness in California lived in California before losing their housing, according to a major new study from the Benioff Homelessness and Housing Initiative at the University of California, San Francisco. The researchers surveyed 3,200 people across the state and conducted 365 in-depth interviews with adults experiencing homelessness between October 2021 and November 2022.
Persons: —, Dr, Margot Kushel Organizations: Service, Initiative, University of California, UCSF Homeless, Housing Initiative, UCSF Locations: California, San Francisco
☆ BlackRock is wrestling with who could succeed Larry Fink. Here's who's now in the running.
  + stars: | 2023-05-12 | by ( Rebecca Ungarino | ) www.businessinsider.com   time to read: +8 min
Investment giant BlackRock has been planning for CEO Larry Fink's succession for years. Leadership has discussed BlackRock cofounder Susan Wagner as someone who could succeed Fink if the board does not have a clear candidate. For years, BlackRock has been planning for Chief Executive Larry Fink's succession, a torch-passing the industry has long speculated over. BlackRock has become shorthand for the intense backlash from primarily Republican lawmakers over sustainable investment strategies that Fink has championed as CEO. Goldstein, 49, is a BlackRock lifer and has been chief operating officer for nearly a decade.
☆ BlackRock org chart: The 150 most powerful people under CEO Larry Fink as succession planning looms
  + stars: | 2023-05-12 | by ( Rebecca Ungarino | ) www.businessinsider.com   time to read: +4 min
Insider built an org chart showing the most senior executives under BlackRock CEO Larry Fink. To provide a window into the current power structure, Insider has mapped out the roughly 150 most senior BlackRock executives. This week, the firm overhauled its alternative-investments business and made changes to the makeup of its Aladdin business, two core BlackRock offerings. "We are spending a great deal of time at BlackRock getting the firm ready for when the founders are retiring. Investment stewardship head Joud Abdel Majeid and Willie Alford, Fink's new chief of staff, are among the executives who report to Fink.
☆ BlackRock CEO Larry Fink's pay dropped by 30% to $25 million in 2022, making him the latest corporate leader to take a pay cut amid recession fears
  + stars: | 2023-04-17 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
BlackRock CEO Larry Fink took a 30% pay cut last year, pocketing a total of $25.2 million. Apple's Tim Cook, Goldman Sach's David Solomon, and Google's Sundar Pichai are other CEOs taking pay cuts. Fink — who co-founded BlackRock in 1988 — made $36 million in 2021. While Fink's pay — before and after his 2022 pay cut — is still quite significant, it's far from the top of the CEO pay scale in the US. Amazon CEO Andy Jassy's pay dropped to $1.3 million in 2022 from $212.7 million in 2021, Insider reported Friday.
☆ BlackRock calls on clients to rethink hedging strategy after UK pension crisis
  + stars: | 2023-03-30 | by ( Tommy Wilkes | ) www.reuters.com   time to read: +3 min
Asset managers worry new rules to make LDI investing more robust could render the strategy unviable for some schemes, but consultants warn BlackRock's push could repel pension clients who want to minimise concentration risk. On Wednesday the Bank of England said LDI funds would, in practice, need to increase liquidity buffers to withstand a 300-400 basis points surge in bond yields. BlackRock is also encouraging schemes to shift to a new, smaller range of LDI funds which are less complex to operate, and moving bigger schemes into segregated accounts, which fared better in the crisis, Claringbull said. "But where clients feel they are being compromised they will look to move assets," he added. Despite the crisis fallout BlackRock has told clients it remains committed to LDI.
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