Monthly Archives: January 2012
As you probably know, last year we launched an ambitious multi-year plan to redesign our operations, improving efficiency and reducing costs for California employers. Inherent in a plan like this are difficult elements, including reductions in staff size, real estate holdings, and other assets that no longer meet the demands of the market or an efficient State Fund. Although hard for our staff, these initiatives are improving our ability to help California businesses manage the cost of workers’ compensation insurance. This is an update on our progress and plans for a more efficient and valuable State Fund.
As we ring in 2012, I look around at where California is today and I see two stories. One is in the statistics – and let’s face it, they’re scary. Our economy is struggling to emerge from the recession, our unemployment rate remains stubbornly high, our revenue isn’t sufficient to pay for everything we need, and many homeowners are still underwater. The second story is much brighter, and the true source of our collective strength. It’s about the optimism and resilience that Californians share. And that’s the story I think we should keep in mind to balance the sobering reality around us.