Read the full story here Web Link posted Wednesday, December 23, 2009, 2:31 PM
Town Square
Martello takes interim attorney gig in Los Gatos
Original post made on Dec 23, 2009
Read the full story here Web Link posted Wednesday, December 23, 2009, 2:31 PM
Comments (6)
Posted by the299crew
a resident of Old Mountain View
on Dec 23, 2009 at 10:30 pm
a resident of Old Mountain View
on Dec 23, 2009 at 10:30 pm
LG - Get your bulldozers warmed up and ready. He's going to get your bike parks.
Posted by Stare decisis
a resident of Old Mountain View
on Dec 24, 2009 at 8:49 am
a resident of Old Mountain View
on Dec 24, 2009 at 8:49 am
Rotation Time, Can we rid the world of the judical.
Web Link
Posted by Old Ben
a resident of Shoreline West
on Dec 24, 2009 at 12:34 pm
a resident of Shoreline West
on Dec 24, 2009 at 12:34 pm
"Public service", HO HO HO! Hogs at the trough...
Posted by Don L.
a resident of Old Mountain View
on Dec 24, 2009 at 4:45 pm
a resident of Old Mountain View
on Dec 24, 2009 at 4:45 pm
I will miss him and so will Mountain View. Wish I could double dip like him. Los Gatos is very lucky to get him. Maybe I should temporarily relocate to Los Gatos.
Posted by dfb
a resident of Shoreline West
on Dec 28, 2009 at 11:10 am
a resident of Shoreline West
on Dec 28, 2009 at 11:10 am
Martello is an example of how our public service pension system has run amok and is unsustainable. I understand he will take about 80% of his regular salary, which will net him about $180,000 in retirement. It is no wonder he is so interested in retiring now. I would retire, too. It helps to explain why the public pension obligations are so high.
I have no problem with paying pensions but it needs to be sustainable and a reasonable amount to allow someone to live on in retirement. The amount paid to Martello from the pension system seems excessive and not sustainable in the long run, especially considering how CALPERS is on the brink of insolvency, is cooking the books to not show its true losses, and with an imminent explosion in the number of retirees.
CALPERS “has been reporting an expected rate of return of 7.75 percent for the past eight years, and 8 percent before that…. Its annual return during the decade from Dec. 31, 1998, to Dec. 31, 2008, has been 3.32 percent, and last year, when markets tanked, it lost 27 percent.” David Evans, Hidden Pension Fiasco May Foment Another $1 Trillion Bailout, Bloomberg NewsService (March 3, 2009).
Web Link
The pension fund is guaranteed by the state treasury.
Martello should be required to work for 35 years in public service and until at least 65 or 70 to qualify for anything coming close to that amount. And even then, $180K seems excessive.
And now he will apparently double dip, receiving his pension and a paycheck from Los Gatos. :-(
Posted by unhappy_camper
a resident of Cuesta Park
on Dec 28, 2009 at 7:33 pm
a resident of Cuesta Park
on Dec 28, 2009 at 7:33 pm
Good riddance. The man is a bully. This is egregious greed - a huge Mountain View retirement income plus double d
ip with Los Gatos & recall the controversial matter of Martello & Pam Read (now his wife) regarding the Foothill
Disposal contract.
Don't miss out
on the discussion!
Sign up to be notified of new comments on this topic.
Post a comment
Stay informed.
Get the day's top headlines from Mountain View Online sent to your inbox in the Express newsletter.
