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Mississippi Pension System Loses Money On Investments

A report by the Public Employees’ Retirement System of Mississippi shows the state’s pension fund lost money in the past year, which could further damage PERS’s already weakened bottom line. According to the third quarter report, the fund has been hit with total losses of 0.47 percent so far this year, with the biggest hits coming in stocks. International equities lost 7.36 percent, global equities were off by 4.26 percent and U.S. equities lost 2.42 percent. Stocks...

Miami Taxicab Companies Sue County Government Over Uber Legalization

After local lawmakers voted to allow peer-to-peer transportation network companies, such as Uber and Lyft, to operate in Miami-Dade County, Florida, taxicab company owners filed a lawsuit against the county government, demanding $1 billion in taxpayer money as compensation. The lawsuit, filed in May, claims county commissioners are responsible for protecting the value of taxicab licenses purchased by taxi companies. ‘An Exciting Time’ Sal Nuzzo, vice president of policy at the James Madison...

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