EPA-TENANTS.ORG
PROTECTING EAST PALO ALTO TENANTS AND FAMILIES
PROTECTING EAST PALO ALTO TENANTS AND FAMILIES
RECENT NEWS SUMMARY - UPDATED 10/2/2010
PRINT COVERAGE OF THE CRISIS - UPDATED 10/21/2010
OTHER USEFUL ARTICLES - UPDATED 10/26/2010
TELEVISION & RADIO COVERAGE - UPDATED 6/9/2010
BREAKING NEWS: On September 14, 2010, a San Francisco Superior Court judge ordered CalPERS to release all documents it holds pertaining to Page Mill Properties II, Page Mill's failed East Palo Alto investment vehicle. The ruling came in response to a complaint filed on July 16, 2010, by the First Amendment Coalition. According to the supporting brief, "the documents at issue may shed considerable light on the factors that came to bear on CalPERS' decision to make the East Palo Alto investment." Documents produced on September 24, 2010 are now available in the document archive, as is the private placement memorandum, and parts one, two, three, and four of documents produced on September 30, 2010.
RECENT NEWS: On June 28, 2010, AB 2337, the Socially Responsible Investment Act, was defeated in the Senate Public Employment and Retirement Committee despite broad support from a coalition of labor unions, nonprofit housing organizations, and government entities. The bill, which sought to bar California's public pension funds from investing in deals that relied or resulted in the displacement of residents in affordable housing, had passed in the Assembly in early June. Affordable housing advocates blamed Chair Lou Correa for the bill's defeat, citing his close ties with the real estate industry.
RECENT NEWS: On June 8, 2010, East Palo Alto voters passed Measure H, a revised rent stabilization ordinance, with an overwhelming 78% of the vote. A previous attempt to submit the revised ordinance for voter consideration was struck down by the San Mateo County Superior Court in 2009 after Page Mill Properties challenged the revised ordinance under CEQA. See print coverage for details.
RECENT NEWS: Effective May 1, 2010, Wells Fargo reduced rents on over 400 Woodland Park apartment units as part of a tentative settlement agreement between the bank and City of East Palo Alto. See print coverage for details.
RECENT NEWS: On April 19, 2010, CalPERS' Investment Committee voted to approve proposed changes to its real estate investment policy to address concerns raised by its troubled predatory equity investments in East Palo Alto and New York City. CalSTRS has indicated its proposed changes will come before the board in June.
RECENT NEWS: Nineteen investors have sued David Taran, Randy Williams, Page Mill Properties Access Fund, a real estate investment fund founded by Taran and Williams, and the fund's management company. The complaint, filed in Santa Clara County Superior Court, alleges securities fraud, fraudulent misrepresentation, and fraudulent concealment. According to Court documents, the investors committed roughly $30 million to Page Mill Properties Access Fund which invested alongside Page Mill Properties II, LP in the 1800 unit East Palo Alto multifamily apartment portfolio. See print coverage for details.
RECENT NEWS: Wells Fargo has foreclosed on Page Mill Properties' 1800 unit East Palo Alto apartment portfolio. Although Wells set the opening bid on the 101 properties at the March 2 auction at roughly 50% of the original purchase price, there were no other bidders. Page Mill began purchasing the properties in late 2006 for a total price of $269 million. Wells Fargo's aggregate opening bid was $142 million. Transfer of ownership due to foreclosure is not a permitted cause for eviction under East Palo Alto's Rent Stabilization Ordinance.
Print Coverage: TOP
Oct 21, 2010, Daily Post: Cop Disciplined For Releasing Document
Oct 20, 2010, Palo Alto Weekly: Palo Alto Officer Taped, Released Private Call
Oct 18, 2010, Pensions & Investments: System Does Some Real Estate Housecleaning
Oct 5, 2010, Sacramento Bee: CalPERS Replaces Its Realty Management Firm
Sep 29, 2010, San Jose Mercury News: Records: CalPERS Feared $100M East Palo Alto Investment Was In Peril
Sep 28, 2010, Palo Alto Weekly: Documents: CalPERS' $100 Million Page Mill Loss
Sep 24, 2010, San Francisco Bay Guardian: New Website Features Worst Landlords Ever
Sep 15, 2010, SF Public Press: Judge Orders Release Of Documents In Failed CalPERS Real Estate Investment
Sep 15, 2010, Palo Alto Weekly: CalPERS Ordered To Release Page Mill Documents
Sep 15, 2010, Sacramento Bee: Judge Tells CalPERS To Release Files On Bad Investment
Sep 14, 2010, San Jose Mercury News: CalPERS Must Release Documents Detailing $100 Million Investment Loss
Aug 5, 2010, San Jose Mercury News: East Palo Alto Seeks Community Input On Implementing New Rent Control Law
Jul 24, 2010, Los Angeles Times: Probes May Open Books At CalPERS
Jul 22, 2010, SF Public Press: Lawsuit Seeks Details On Failed $100 Million CalPERS Investment
Jul 20, 2010, San Jose Mercury News: CalPERS Sued For Documents Related To Failed $100 Million Investment In Page Mill Properties
Jul 20, 2010, Global Pensions: CalPERS Sued Over Details Of Failed Property Investment
Jul 20, 2010, Sacramento Bee: Suit Seeks Documents From CalPERS Venture
Jun 30, 2010, Sacramento Bee: California Senate Panel Kills Bill Limiting Funds' Rental Investments
Jun 29, 2010, Sacramento Bee: Bill To Restrict State Pension Fund Investing Defeated
Jun 29, 2010, Beyond Chron: Sen. Lou Correa Kills Nation's First Anti-'Predatory Equity' Bill
Jun 9, 2010, San Jose Mercury News: East Palo Alto Voters Approve New Rent Law
Jun 9, 2010, Bay City News Service: Measure H, East Palo Alto Rent Ordinance, Passes
Jun 8, 2010, San Francisco Examiner: Measure H: New Rent Protections Coming To East Palo Alto
Jun 4, 2010, San Jose Mercury News: Pro-Tenant Bill Clears State Assembly
Jun 2, 2010, San Jose Mercury News: East Palo Alto Voters Could Approve New Rent Control Law Tuesday
May 26, 2010, The Registry: City National Bank Sues To Secure Payment From Fund Manager
May 7, 2010, Palo Alto Weekly: Rents At Former Page Mill Apartments Rolled Back
May 6, 2010, San Jose Mercury News: Wells Fargo Reducing Rents At 437 Ex-Page Mill Units
Apr 30, 2010, CalPensions: How CalPERS Bet Big On Real Estate And Lost
Apr 26, 2010, Palo Alto Weekly: Assembly Bill Targets 'Predatory Equity' Investments
Apr 26, 2010, CalPensions: Scandals Drive Democratic Pension Reforms
Apr 22, 2010, San Jose Mercury News: East Palo Alto Residents Head To State Capital For Pro-Tenant Bill
Apr 22, 2010, IPE Real Estate: CalPERS Takes Social Action To Protect Rent Rates For Lower-Income Households
Apr 22, 2010, San Francisco Chronicle: Big Bucks Pushing To 'Stop Hidden Taxes'
Apr 20, 2010, Central Valley Business Times: CalPERS Adopts Tenant-Oriented Rental Policy
Apr 19, 2010, Capitol Weekly: California's Public Pension Funds: Is Internal Reform Enough?
Apr 19, 2010, The Registry: CalPERS Changes Multi-Family Investment Policy
Apr 19, 2010, Bloomberg: CalPERS' Board Approves Policy Shift To Protect Rent Control
Apr 19, 2010, Associated Press: CalPERS Changes Policy On Real Estate Investing
Apr 15, 2010, Wall Street Journal: CalPERS Rule Would Limit Evictions At Investments
Apr 15, 2010, San Francisco Chronicle: Chamber Of Commerce Pushes Anti-Tax Initiative
Apr 14, 2010, Sacramento Bee: CalPERS, CalSTRS Plan To Change Realty Investment Policy
Apr 13, 2010, Pensions & Investments: CalPERS Eyes Ban On Rent-Control Conversion Investments
Apr 13, 2010, Sacramento Bee: CalPERS, CalSTRS Might Revise Housing Policies
Apr 1, 2010, Palo Alto Weekly: Page Mill Investors Sue Firm Over Millions
Mar 26, 2010, San Francisco Business Times: Former Schwab CEO Pottruck, Others, Sue Keiretsu Forum
Mar 25, 2010, San Jose Mercury News: Investors In Page Mill's East Palo Alto Apartments Sue Landlord
Mar 24, 2010, The Registry: Lawsuit Accuses Keiretsu Forum Founder, Fund Manager Of Fraud
Mar 22, 2010, San Jose Mercury News: Nonprofit To Hold Community Meetings On Page Mill Buildings' Future
Mar 12, 2010, Sacramento Bee: California Public Pension Funds Take New Hits On Real Estate Investments
Mar 11, 2010, San Francisco Chronicle: More Real Estate Woes For CalPERS
Mar 10, 2010, San Jose Mercury News: East Palo Alto Council Approves Revised Rent Law
Mar 9, 2010, Palo Alto Weekly: East Palo Alto Seeks To Revise Its Rent-Control Law
Mar 4, 2010, San Jose Mercury News: Future Of East Palo Alto Settlement Talks Uncertain
Mar 3, 2010, The Registry: Page Mill Properties Go Back To Bank
Mar 3, 2010, Bay City News Service: Wells Fargo Forecloses On Large Peninsula Landlord
Mar 3, 2010, San Francisco Business Times: Wells Takes Over East Palo Alto Portfolio
Mar 3, 2010, Palo Alto Weekly: Wells Fargo Takes Ownership Of 1,800 EPA Units
Mar 2, 2010, San Jose Mercury News: Wells Fargo Becomes East Palo Alto's Largest Landlord
Mar 1, 2010, San Jose Mercury News: Appellate Court: East Palo Alto Won't Have To Pay $472K
Feb 26, 2010, San Francisco Chronicle: A Brutal Two Years For Those In CalPERS
Feb 25, 2010, Sacramento Bee: California Bill Targets Pension Fund Investments In Rent-Controlled Apartments
Feb 25, 2010, San Jose Mercury News: State Lawmaker Introduces Bill Inspired By East Palo Alto Evictions
Feb 24, 2010, Wall Street Journal: Backlash Hits CalPERS Property Deals
Feb 21, 2010, Associated Press: Mortgage Crisis Brings Creeping Decay To Middle-Class Apartment Buildings From California To NY
Feb 18, 2010, Reuters: CalPERS Names Firms Not Responding On Placement Agents
Feb 5, 2010, San Jose Mercury News: Court Of Appeal Reverses Decision To Award Page Mill Fees In Case Against East Palo Alto
Feb 4, 2010, Beyond Chron: Crucial Moment For Affordable Housing In Silicon Valley
Jan 30, 2010, Palo Alto Daily News: Auction Of Page Mill's East Palo Alto Properties Delayed
Jan 22, 2010, Palo Alto Weekly: EPA Prepares For Page Mill Lawsuit Negotiations
Jan 20, 2010, Los Angeles Times: CalPERS' Investments Underperform In 2009
Jan 7, 2010, Palo Alto Weekly: Page Mill Properties Buildings Face Auction
Jan 6, 2010, San Jose Mercury News: Page Mill's East Palo Alto Buildings To Hit The Auction Block Feb. 1
Dec 31, 2009, Oakland Tribune: Economy Top San Mateo County Story Of '09
Dec 30, 2009, San Jose Mercury News: East Palo Alto May Settle Page Mill Lawsuits
Dec 28, 2009, Pensions & Investments: How CalPERS Strategy Backfired
Dec 10, 2009, Wall Street Journal: Firm Takes Heat Over East Palo Alto Crime
Dec 1, 2009, Oakland Tribune: East Palo Alto Renters To Rally In Front Of City Hall Tonight
Nov 22, 2009, Washington Post: Renters Not Immune To Foreclosure Crisis
Nov 16, 2009, Sacramento Bee: CalPERS Realty Deals And Image Take A Beating
Nov 4, 2009, San Francisco Bay Guardian: The Pension Fund Evictions
Oct 22, 2009, San Jose Mercury News: San Mateo County Agency Rejects Attempt To Unincorporate Western East Palo Alto
Oct 13, 2009, San Jose Mercury News: San Mateo Construction Firm Sues Page Mill For Alleged Unpaid Work
Oct 2, 2009, San Jose Mercury News: Page Mill's East Palo Alto Properties Now In Default
Oct 1, 2009, The Registry: 'Radical Gentrification' In East Palo Alto
Sep 30, 2009, The Registry: Wells Fargo Foreclosing On Taran, Page Mill Properties
Sep 25, 2009, San Jose Mercury News: Embattled East Palo Alto Real Estate Empire Teeters On Collapse
Sep 23, 2009, San Jose Mercury News: Page Mill's East Palo Alto Buildings Get New Property Manager
Sep 17, 2009, San Jose Mercury News: East Palo Alto Rent Law Won't Appear On November Ballots
Sep 10, 2009, San Jose Mercury News: Court-appointed Receiver To Run Page Mill's East Palo Alto Units
Sep 10, 2009, The Registry: Court Receiver Takes Control
Sep 10, 2009, San Jose Mercury News: Wells Fargo To Seek 3rd Party Intervention In Page Mill Dispute
Sep 9, 2009, The Registry: Palo Alto Developer Losing $340 Million Bet With CalPERS Money
Sep 9, 2009, Palo Alto Weekly: Wells Fargo Seeks Receivership For Page Mill Buildings
Sep 5, 2009, San Jose Mercury News: East Palo Alto's Largest Landlord Losing Control Of Properties
Sep 4, 2009, Palo Alto Weekly: Page Mill Closes Offices, Fuels Speculation
Sep 4, 2009, Palo Alto Weekly: Tenants Win Suit Against Page Mill Properties
Sep 3, 2009, Palo Alto Weekly: Page Mill: Change East Palo Alto Boundaries
Sep 3, 2009, Palo Alto Daily News: Judge Rules In Favor Of Page Mill Tenants
Sep 3, 2009, Beyond Chron: Predatory Landlord Scheme Starts To Unravel In East Palo Alto
Sep 2, 2009, Palo Alto Weekly: Tenants Win Injunction Against Page Mill
Sep 1, 2009, San Jose Mercury News: Page Mill Could Lose Ownership Of East Palo Alto Properties
Aug 28, 2009, San Jose Mercury News: Page Mill Seeks To Remove West Side Of East Palo Alto From City Limits
Aug 17, 2009, San Jose Mercury News: East Palo Alto, County Sued Over New Rent Control Law
Aug 7, 2009, San Jose Mercury News: East Palo Alto Sends Proposed Rent Control Ordinance To County
Jul 31, 2009, San Jose Mercury News: Judge: Restraining Order Against East Palo Alto Only Applied To One Meeting
Jul 30, 2009, San Jose Mercury News: Judge Issues Temporary Restraining Order Against East Palo Alto
Jul 16, 2009, San Jose Mercury News: East Palo Alto Working On Final Rent Law Changes
Jun 19, 2009, San Jose Mercury News: Judge Rules Against Page Mill In 1643 Woodland Case
Jun 18, 2009, FRC: Predatory Real Estate Fund Undermines Wells Fargo's And CalPERS' Claims Of Corporate Responsibility
Jun 12, 2009, San Jose Mercury News: Palo Alto Police Investigate Allegations Against Former Lieutenant
Jun 4, 2009, San Jose Mercury News: Page Mill To Evict Prominent Tenant Organizer In East Palo Alto
May 20, 2009, San Jose Mercury News: Hearing Examiner Rules For 136 Tenants Against East Palo Alto Landlord
May 14, 2009, San Jose Mercury News: Tenants Group: East Palo Alto Landlord Evicting Many Residents
May 7, 2009, San Jose Mercury News: East Palo Alto Council Gives Finalized Recommendations On Rent Control Law Changes
May 4, 2009, Beyond Chron: Is East Palo Alto Landlord Paying Bloggers To Promote Tenant Displacement?
Apr 30, 2009, FRC: Official Eviction Data Expose Disproportionate Displacement Of Page Mill Tenants
Apr 25, 2009, San Jose Mercury News: East Palo Alto Working On Changes To Rent Law For November Elections
Apr 25, 2009, East Palo Alto Today: Evictions Soar In East Palo Alto
Apr 11, 2009, San Jose Mercury News: Page Mill Files New Suit Against East Palo Alto Alleging Rent Board Wrongly Denied Exemption Claims
Mar 20, 2009, San Jose Mercury News: DA Deciding Whether To File Criminal Charges In 2007
East Palo Alto Electrocution Death Of Page Mill Employee
Mar 11, 2009, Palo Alto Weekly: Page Mill Tenants Protest Through Palo Alto
Mar 4, 2009, San Jose Mercury News: Officer Under Fire Steps Down
Mar 2, 2009, Palo Alto Weekly: Page Mill Security Consultant Retires As Officer
Feb 24, 2009, Palo Alto Weekly: Palo Alto Police Lieutenant Ends 'Security' Job
Feb 22, 2009, Palo Alto Daily News: Stop, Or We'll Sue
Feb 21, 2009, Palo Alto Daily News: Palo Alto Police Lieutenant No Longer Does Contract Work For Page Mill
Feb 10, 2009, Palo Alto Weekly: Tenants Lash Out Against Police Investigation
Feb 6, 2009, Palo Alto Daily News: Owner, Activist Trade Barbs
Feb 2, 2009, CalPensions: CalPERS: Pushing Out The Poor
Jan 24, 2009, San Jose Mercury News: Attorneys For Page Mill And Its East Palo Alto Tenants Clash During Legal Hearing Over Rent Increases
Jan 22, 2009, Palo Alto Daily News: Legal Entanglements Between East Palo Alto, Page Mill Worsen
Dec 17, 2008, San Jose Mercury News: East Palo Alto Council Asks CalPERS To Pull Investments In Page Mill Properties
Dec 17, 2008, Palo Alto Weekly: EPA Calls Page Mill Properties 'Predatory'
Dec 16, 2008, CLSEPA: Battle Over Rent Control Still Rages In East Palo Alto, Page Mill Properties' Relations With City Officials Remain Bitter
Dec 5, 2008, Palo Alto Weekly: Tenants Allege Harassment In East Palo Alto
Nov 27, 2008, Palo Alto Daily News: Page Mill Claims Win Over East Palo Alto In Rent-Control Suits
Nov 18, 2008, Palo Alto Daily News: Page Mill Tenants Share Experiences
Oct 24, 2008, Palo Alto Weekly: Lives Hanging In The Balance
Oct 8, 2008, Palo Alto Weekly: Judge Overturns Ruling In EPA Rent Case
Oct 4, 2008, Palo Alto Daily News: Judge Stays East Palo Alto Rent Hikes
Sep 16, 2008, Palo Alto Daily News: City Gets Hands On Page Mill Documents
Sep 8, 2008, San Mateo Daily News: Page Mill Suffers Legal Setback
Aug 13, 2008, Oakland Tribune: East Palo Alto Law Clinic Preparing Page Mill Database
Jul 28, 2008, Palo Alto Daily News: Page Mill Properties Target Of Lawsuit
Jul 18, 2008, Silicon Valley Business Journal: Offers Made On 1,700 Page Mill Units
Jun 16, 2008, Palo Alto Weekly: New Rent Increases To Hit 'Page Mill' Tenants
Apr 7, 2008, Silicon Valley Debug: Small Town Love - East Palo Alto Families Sweat Rent Hikes
Mar 10, 2008, Daily Californian: East Palo Alto Seeks Berkeley's Advice On Rent Stabilization
Feb 25, 2008, Palo Alto Weekly: Court Overturns East Palo Alto Rent Freeze
Jan 10, 2008, Oakland Tribune: East Palo Alto Council Passes 6-Month Freeze On Rent Hikes
Dec 28, 2007, Silicon Valley Business Journal: CalPERS Backs Page Mill Plan
Dec 19, 2007, Palo Alto Weekly: Man Killed Hanging Christmas Lights Is Identified
Dec 15, 2007, Palo Alto Weekly: Man Dies While Hanging Christmas Lights
Dec 13, 2007, Palo Alto Weekly: Rent Increases Hit East Palo Alto Tenants Hard
Dec 11, 2007, Palo Alto Weekly: East Palo Alto Tenants To Protest Rent Increases
Other Useful Articles: TOP
Oct 26, 2010, New York Times: Stuyvesant Town's Lenders Take Over Property
Oct 20, 2010, Wall Street Journal: A Bellwether Buy In The Bay Area
Oct 14, 2010, Sacramento Bee: N.Y. Fines Law Firm For CalPERS Dealings
Oct 1, 2010, Los Angeles Times: Schwarzenegger Signs Pension Fund Transparency Bill
Sep 21, 2010, Associated Press: California Pension Bonuses Examined
Sep 16, 2010, The Economist: Investor, Heal Thyself
Sep 13, 2010, New York Times: Stuyvesant Town Tenants Are Offered Co-op Plan
Sep 9, 2010, Bloomberg: Cleaning Up CalPERS
Sep 6, 2010, New York Times: Hope For A Bronx Tower Of Hip-Hop Lore
Sep 1, 2010, Sacramento Bee: CalPERS Board Member With Ties To Villalobos Resigns
Aug 27, 2010, Sacramento Bee: Suspended CalPERS Executive Resigns
Aug 20, 2010, Los Angeles Times: State Ethics Officials Launch Investigation Into Luxury Trips Taken By CalPERS Staff
Aug 19, 2010, Los Angeles Times: CalPERS Investment Staff Receive Luxury Travel, Gifts From Financial Firms
Aug 15, 2010, Sacramento Bee: Policy Shift Helped Lobbyist Crack CalPERS
Aug 6, 2010, Crain's New York Business: Stuy-Town Tenants Take Home Big Win
Aug 5, 2010, New York Times: Sale Of Troubled Buildings May Not Mean Rescue
Jul 30, 2010, Sacramento Bee: Dan Walters: Pension Hike Revelations Show Massive Failure
Jul 2, 2010, Courthouse News Service: State Hides 'Scandal Tainted' Info, Times Says
Jun 30, 2010, Fortune: CalPERS And Risk: Together Forever?
Jun 22, 2010, Wall Street Journal: Judge Approves Stuyvesant Town Foreclosure
Jun 11, 2010, San Francisco Chronicle: Fate Of S.F.'s Parkmerced Complex In Limbo
Jun 11, 2010, Los Angeles Times: CalPERS To Resume Seeking Another $700 Million In Tax Money
Jun 10, 2010, Crain's New York Business: Stuy Town Rent Deal Extended
Jun 1, 2010, Beyond Chron: Parkmerced In Default: What Now For Owners' Plan To Bulldoze Over 1,500 Rent-Controlled Homes?
May 28, 2010, New York Times: Owners Bet On Raising The Rent, And Lost
May 26, 2010, San Francisco Chronicle: Parkmerced Owners Say They'll Survive Loan Woes
May 13, 2010, Wall Street Journal: Stuyvesant Tenants Invite CalPERS To Join Bid
May 13, 2010, Sacramento Bee: CalPERS May Present Higher Bill To State
May 12, 2010, New York Observer: California Steaming
May 7, 2010, Los Angeles Times: CalPERS May See More Lawsuits
May 6, 2010, Los Angeles Times: State Sues Two Former CalPERS Officials
May 4, 2010, National Real Estate Investor: CMBS Delinquency Rate Hits A Record 8%
May 1, 2010, New York Post: Appaloosa Bid To Join Stuyvesant Town Foreclosure Suit Is Denied
Apr 26, 2010, Wall Street Journal: Pension Bomb Ticks Louder
Apr 20, 2010, New York Observer: The Man Who Would Rule Stuy Town
Apr 19, 2010, New York Times: U.S. Offers A Hand To Those On Eviction's Edge
Apr 19, 2010, Pensions & Investments: Peeling The Layers From CalPERS' Realty Investments
Apr 19, 2010, Pensions & Investments: Public Funds Wrestling With Bonus Conundrum
Apr 16, 2010, San Francisco Chronicle: More To Come In Pension Corruption Probe For Democratic Heavyweight Darius Anderson?
Apr 16, 2010, Sacramento Bee: Sacramento Lobbyist To Pay $500,000 To Settle New York Pension Probe
Apr 9, 2010, BusinessWeek: Stuyvesant Town Boosts March U.S. CMBS Delinquencies
Apr 6, 2010, New York Times: Analysis Of California Pensions Finds Half-Trillion-Dollar Gap
Mar 30, 2010, New York Times: Real Estate's Crash Recasts A Scorned Landlord As A Potential Savior
Mar 26, 2010, Wall Street Journal: CalPERS Deals Part Of Probe By Justice Into Pay-Play
Mar 19, 2010, Crain's New York Business: Tenants Seek Ouster Of Harlem Property Manager
Mar 13, 2010, Associated Press: Middle-Class NYC Apartment Complex Sold At Auction
Mar 12, 2010, Sacramento Bee: Darius Anderson Helped Republican Heavy Win Pension Money
Mar 10, 2010, New York Times: Former Hevesi Aide Pleads Guilty In Pension Case
Mar 10, 2010, New York Observer: Private Equity's Good
Mar 8, 2010, New York Times: Public Pension Funds Are Adding Risk To Raise Returns
Mar 8, 2010, Sacramento Bee: Pension Funds Slip Deep Into The Abyss
Mar 8, 2010, New York Daily News: Harlem Tenants At Riverton Houses Anxious Over Sale, Hikes
Mar 5, 2010, Los Angeles Times: A Son's Lament For CalPERS' Big Losses
Mar 2, 2010, San Francisco Chronicle: Reforms To CalPERS Pension Face Uphill Battle
Mar 1, 2010, Wall Street Journal: CalPERS Confronts Cuts To Return Rate
Feb 24, 2010, San Diego Union-Tribune: Indifference To Outrage: Latest CalPERS' Revelations Barely Seem To Register With State Leaders
Feb 24, 2010, New York Times: Hedge Fund Moves On Stuyvesant Town
Feb 18, 2010, BusinessWeek: The Pension Fund Beating Private Equity
Feb 18, 2010, New York Times: A Sight All Too Familiar In Poor Neighborhoods
Feb 17, 2010, The Registry: Experts: Real Commercial Property Carnage Hasn't Begun
Feb 16, 2010, The Guardian: Wells Fargo Chairman Is America's Highest Paid Banker
Feb 15, 2010, New York Times: Worry At Stuyvesant Town As Foreclosure Draws Near
Feb 11, 2010, New York Times: Landlord To Pay $1 Million Over Treatment Of Tenants
Feb 2, 2010, New York Times: Riverton Houses In Harlem To Be Sold In Foreclosure
Jan 30, 2010, New York Times: All Those Little Stuyvesant Towns
Jan 25, 2010, New York Times: Fallout Is Wide In Failed Deal For Stuyvesant Town
Jan 25, 2010, New York Times: Huge Housing Complex In N.Y. Returned To Creditors
Jan 22, 2010, Sacramento Business Journal: CalPERS To Buy Real Estate This Year
Jan 16, 2010, Sacramento Bee: CalPERS Should Reveal The Laggards
Jan 15, 2010, Sacramento Bee: CalPERS Reveals Middlemen Paid $125 Million To Win Fund's Business
Jan 14, 2010, Sacramento Bee: Middlemen Earn Huge Fees From CalPERS
Jan 11, 2010, Los Angeles Times: CalPERS To Disclose Details About Intermediaries
Jan 8, 2010, Wall Street Journal: Tishman, Blackrock Default On Stuyvesant Town
Jan 7, 2010, Wall Street Journal: U.S. Now A Renters' Market
Jan 4, 2010, The Californian: Cities, Counties Brace For Pension Crises
Jan 1, 2010, The Atlantic: Capitalist Fools
Dec 30, 2009, New York Times: Memphis Accuses Wells Fargo Of Discriminating Against Blacks
Dec 30, 2009, San Diego Union-Tribune: CalPERS: Clean House
Dec 24, 2009, Property Wire: US Commercial Property Values Now At Lowest For Seven Years, Latest Figures Show
Dec 23, 2009, New York Times: Banks Bundled Bad Debt, Bet Against It And Won
Dec 22, 2009, The Times: Investor Collapse Puts 1,000 New York Homes At Risk
Dec 18, 2009, New York Magazine: The Biggest, Baddest Real-Estate Loan
Dec 18, 2009, Wall Street Journal: Discord Behind TARP Exits
Dec 11, 2009, Los Angeles Times: CalPERS, CalSTRS See Long-Term Credit Ratings Lowered
Dec 9, 2009, Los Angeles Times: CalPERS Axing Investment Managers Over Real Estate Losses
Dec 8, 2009, Bloomberg: CalPERS Real Estate Holdings Decline 30% During First Quarter
Dec 7, 2009, Crain's New York Business: 10% Of NYC's Low-Cost Housing Seen Deep In Debt
Dec 7, 2009, Bloomberg: No Escape From TARP For U.S. Banks Choking On Real Estate Loans
Dec 6, 2009, Sacramento Bee: Governor To Give CalPERS More Funds Than It Asked For
Dec 3, 2009, Fortune: Why Wells Fargo Hasn't Paid U.S. Back
Dec 2, 2009, New York Times: New Landlord Is Chosen For Troubled Bronx Buildings
Dec 1, 2009, San Francisco Magazine: War Of Values
Nov 30, 2009, PublicCEO: CalPERS' Piece Of Budget Woes Gaining Attention
Nov 30, 2009, Reuters: Wells Fargo Looks Pricey Given TARP, Mortgage Losses
Nov 25, 2009, Wall Street Journal: CalPERS Weighs Booting BlackRock
Nov 17, 2009, Los Angeles Times: CalPERS Board Votes To Tighten Disclosure Rules For Middlemen
Nov 10, 2009, The Registry: CalPERS Endures $4.2 Billion Quarterly Loss In Real Estate
Nov 9, 2009, Los Angeles Times: CalPERS' Image Takes A Hit
Nov 7, 2009, Los Angeles Times: CalPERS To Consider Requiring Placement Agents To Register As Lobbyists
Nov 5, 2009, BusinessWeek: Why This Real Estate Bust Is Different
Oct 24, 2009, Wall Street Journal: MacFarlane Resigns As Adviser To CalPERS
Oct 23, 2009, Reuters: Laying On Bets At America's Biggest Pension Fund
Oct 23, 2009, Wall Street Journal: After A Decade-Plus Together, CalPERS Reviews Apollo Ties
Oct 18, 2009, New York Times: The Banks Are Not All Right
Oct 16, 2009, Commercial Mortgage Alert: Lenders Gloomy As Credit Crunch Drags On
Oct 15, 2009, Sacramento Bee: CalPERS Could Lose $500 Million On N.Y. Real Estate Deal
Oct 15, 2009, Wall Street Journal: An Apartment Complex Teeters
Oct 15, 2009, Wall Street Journal: CalPERS Rocked By 'Pay to Play'
Oct 14, 2009, Washington Post: Bank Regulators: Real Estate Loans Biggest Concern
Oct 14, 2009, Washington Post: CalPERS Launches Probe Of Placement Agent Fees
Oct 11, 2009, Washington Post: Steep Losses Pose Crisis For Pensions
Oct 7, 2009, The Registry: Apartments Prove Anchor In The Storm
Oct 6, 2009, New York Times: Debt-Market Paralysis Deepens Credit Drought
Sep 17, 2009, BankImplode: Wells Fargo's Commercial Portfolio Is A Ticking Time Bomb
Sep 17, 2009, Huffington Post: Predatory Equity
Sep 9, 2009, New York Times: Buyers Of Huge Manhattan Complex Face Default Risk
Sep 3, 2009, Wall Street Journal: Wells Fargo's Tight Lips Drag On Shares
Sep 1, 2009, New York Times: For Commercial Real Estate, Hard Times Have Just Begun
Aug 31, 2009, San Francisco Chronicle: Commercial Mortgage Defaults In Bay Area Rising
Aug 19, 2009, Wall Street Journal: CalPERS Takes Another Property Hit
Jul 31, 2009, San Francisco Examiner: Lawsuit Alleges CitiApartments Drained Tenant Deposit Accounts
Jul 23, 2009, New York Times: California Pension Fund Hopes Riskier Bets Will Restore Its Health
Jul 22, 2009, Wall Street Journal: CalPERS Has Worst Year, Off 23.4%
Jul 14, 2009, San Jose Mercury News: Silicon Valley Apartment Rents Fall 3.8%; Biggest Decline In Nation
Jul 14, 2009, New York Times: Struggling Landlords Leaving Repairs Undone
Jul 1, 2009, Mother Jones: Flip This Project
Jun 2, 2009, Sacramento Bee: RIP For CalPERS' Bad Real Estate Deal?
May 19, 2009, Washington Post: Federal Reserve To Widen Commercial Real Estate Lending Program
Apr 19, 2009, Sacramento Bee: CalPERS, CalSTRS Award Big Bonues Despite Losses
Mar 26, 2009, Wall Street Journal: Commercial Property Faces Crisis
Mar 25, 2009, New York Times: Cities Deal With A Surge In Shanty Towns
Mar 5, 2009, New York Times: Big Landlord Found To Have Wrongly Raised Rents
Feb 1, 2009, New York Magazine: Clash Of The Utopias
Jan 28, 2009, Wall Street Journal: For San Francisco Landlord, Bell Tolls On A Heavy-Debt Plan
Jan 28, 2009, New York Times: Wells Fargo Posts Loss As Wachovia Takes Toll
Jan 21, 2009, San Francisco Chronicle: Bay Area Rental Market Gives Tenants An Edge
Jan 4, 2009, Sacramento Bee: CalPERS Took Huge Gamble At The Worst Time
Dec 24, 2008, Palo Alto Daily News: Homeless Service Exhausted
Dec 17, 2008, Real Estate Weekly: Affordable Housing: Private Equity Solution To Predatory Equity
Dec 17, 2008, Wall Street Journal: Risky, Ill-Timed Land Deals Hit CalPERS
Dec 16, 2008, New York Times: A List A Landlord Doesn't Want to Be On
Oct 5, 2008, New York Times: Mortgage Crisis Is Foreseen In Housing Owned By Private Equity Firms
Oct 4, 2008, Washington Post: After Change In Tax Law, Wells Fargo Swoops In
Oct 4, 2008, Wall Street Journal: Wachovia Chooses Wells Fargo, Spurns Citi
Oct 3, 2008, New York Times: Wells Fargo To Buy Wachovia
Oct 2, 2008, Crain's New York Business: 'Predatory Equity' Smothering Affordable Housing
Aug 26, 2008 New York Times: Fear Of Defaults After A Flurry Of Apartment House Sales
May 19, 2008, Los Angeles Times: Misjudging The Landscape
May 9, 2008, New York Times: Questions Of Rent Tactics By Private Equity
May 7, 2008, Wall Street Journal: Wachovia's Big-Loan Executive Is Leaving
Feb 29, 2008, Commercial Mortgage Alert: Soaring Debt Yields Luring Fund Operators
Jul 13, 2007, San Francisco Business Times: Lembis Pump $200M Into Growing Housing Empire
Aug 17, 2006, San Francisco Examiner: S.F. Sues Major Residential Rental Firm
Television Coverage: TOP
Jun 9, 2010, ABC 7: Parcel Tax, Rent Stabilization Measures Appear To Have Passed
Apr 19, 2010, CBS 5: CalPERS Changes Policy On Real Estate Investing
Dec 11, 2009, CBS 5: Some Blame Firm On East Palo Alto Crime Spike
Sep 8, 2009, ABC 7: Residents Upset Bank Shut Off Apartment Account
Apr 23, 2009, Cable Channel 27: Talking With Henrietta; Is Anyone Being Treated Unfairly?
Jul 26, 2008, Univision Noticias 14: East Palo Alto Rent Petition Drive Draws Hundreds of Page Mill Residents
Dec 13, 2007, CBS 5: East Palo Alto Tenants Angry Over Rent Hikes
Radio Coverage:
Mar 21, 2010, NPR: Gambling To Fix Pensions Can Lead To A Bigger Bind
Mar 3, 2010, KLIV: 1,800 East Palo Alto Apartments Turned Over To The Bank
Dec 30, 2009, KLIV: East Palo Alto Could Be Settling Page Mill Properties Lawsuit
Dec 22, 2009, WNYC: Speculative Real Estate Deals Put Buildings At Risk
Nov 12, 2009, Marketplace: Investors In Apartments Are Squeezed
Oct 12, 2009, NPR: Some Tenants Pay The Price For Mortgage Excesses
Sep 8, 2009, KCBS: Tenants Concerned About Landlord's Finances
Sep 5, 2009, KLIV: Page Mill Properties Closes Offices
Other Coverage:
Page Mill Properties Watch
TOP Contact: EPA-TENANTS.OR2
PRINT COVERAGE OF THE CRISIS - UPDATED 10/21/2010
OTHER USEFUL ARTICLES - UPDATED 10/26/2010
TELEVISION & RADIO COVERAGE - UPDATED 6/9/2010
BREAKING NEWS: On September 14, 2010, a San Francisco Superior Court judge ordered CalPERS to release all documents it holds pertaining to Page Mill Properties II, Page Mill's failed East Palo Alto investment vehicle. The ruling came in response to a complaint filed on July 16, 2010, by the First Amendment Coalition. According to the supporting brief, "the documents at issue may shed considerable light on the factors that came to bear on CalPERS' decision to make the East Palo Alto investment." Documents produced on September 24, 2010 are now available in the document archive, as is the private placement memorandum, and parts one, two, three, and four of documents produced on September 30, 2010.
RECENT NEWS: On June 28, 2010, AB 2337, the Socially Responsible Investment Act, was defeated in the Senate Public Employment and Retirement Committee despite broad support from a coalition of labor unions, nonprofit housing organizations, and government entities. The bill, which sought to bar California's public pension funds from investing in deals that relied or resulted in the displacement of residents in affordable housing, had passed in the Assembly in early June. Affordable housing advocates blamed Chair Lou Correa for the bill's defeat, citing his close ties with the real estate industry.
RECENT NEWS: On June 8, 2010, East Palo Alto voters passed Measure H, a revised rent stabilization ordinance, with an overwhelming 78% of the vote. A previous attempt to submit the revised ordinance for voter consideration was struck down by the San Mateo County Superior Court in 2009 after Page Mill Properties challenged the revised ordinance under CEQA. See print coverage for details.
RECENT NEWS: Effective May 1, 2010, Wells Fargo reduced rents on over 400 Woodland Park apartment units as part of a tentative settlement agreement between the bank and City of East Palo Alto. See print coverage for details.
RECENT NEWS: On April 19, 2010, CalPERS' Investment Committee voted to approve proposed changes to its real estate investment policy to address concerns raised by its troubled predatory equity investments in East Palo Alto and New York City. CalSTRS has indicated its proposed changes will come before the board in June.
RECENT NEWS: Nineteen investors have sued David Taran, Randy Williams, Page Mill Properties Access Fund, a real estate investment fund founded by Taran and Williams, and the fund's management company. The complaint, filed in Santa Clara County Superior Court, alleges securities fraud, fraudulent misrepresentation, and fraudulent concealment. According to Court documents, the investors committed roughly $30 million to Page Mill Properties Access Fund which invested alongside Page Mill Properties II, LP in the 1800 unit East Palo Alto multifamily apartment portfolio. See print coverage for details.
RECENT NEWS: Wells Fargo has foreclosed on Page Mill Properties' 1800 unit East Palo Alto apartment portfolio. Although Wells set the opening bid on the 101 properties at the March 2 auction at roughly 50% of the original purchase price, there were no other bidders. Page Mill began purchasing the properties in late 2006 for a total price of $269 million. Wells Fargo's aggregate opening bid was $142 million. Transfer of ownership due to foreclosure is not a permitted cause for eviction under East Palo Alto's Rent Stabilization Ordinance.
Print Coverage: TOP
Oct 21, 2010, Daily Post: Cop Disciplined For Releasing Document
Oct 20, 2010, Palo Alto Weekly: Palo Alto Officer Taped, Released Private Call
Oct 18, 2010, Pensions & Investments: System Does Some Real Estate Housecleaning
Oct 5, 2010, Sacramento Bee: CalPERS Replaces Its Realty Management Firm
Sep 29, 2010, San Jose Mercury News: Records: CalPERS Feared $100M East Palo Alto Investment Was In Peril
Sep 28, 2010, Palo Alto Weekly: Documents: CalPERS' $100 Million Page Mill Loss
Sep 24, 2010, San Francisco Bay Guardian: New Website Features Worst Landlords Ever
Sep 15, 2010, SF Public Press: Judge Orders Release Of Documents In Failed CalPERS Real Estate Investment
Sep 15, 2010, Palo Alto Weekly: CalPERS Ordered To Release Page Mill Documents
Sep 15, 2010, Sacramento Bee: Judge Tells CalPERS To Release Files On Bad Investment
Sep 14, 2010, San Jose Mercury News: CalPERS Must Release Documents Detailing $100 Million Investment Loss
Aug 5, 2010, San Jose Mercury News: East Palo Alto Seeks Community Input On Implementing New Rent Control Law
Jul 24, 2010, Los Angeles Times: Probes May Open Books At CalPERS
Jul 22, 2010, SF Public Press: Lawsuit Seeks Details On Failed $100 Million CalPERS Investment
Jul 20, 2010, San Jose Mercury News: CalPERS Sued For Documents Related To Failed $100 Million Investment In Page Mill Properties
Jul 20, 2010, Global Pensions: CalPERS Sued Over Details Of Failed Property Investment
Jul 20, 2010, Sacramento Bee: Suit Seeks Documents From CalPERS Venture
Jun 30, 2010, Sacramento Bee: California Senate Panel Kills Bill Limiting Funds' Rental Investments
Jun 29, 2010, Sacramento Bee: Bill To Restrict State Pension Fund Investing Defeated
Jun 29, 2010, Beyond Chron: Sen. Lou Correa Kills Nation's First Anti-'Predatory Equity' Bill
Jun 9, 2010, San Jose Mercury News: East Palo Alto Voters Approve New Rent Law
Jun 9, 2010, Bay City News Service: Measure H, East Palo Alto Rent Ordinance, Passes
Jun 8, 2010, San Francisco Examiner: Measure H: New Rent Protections Coming To East Palo Alto
Jun 4, 2010, San Jose Mercury News: Pro-Tenant Bill Clears State Assembly
Jun 2, 2010, San Jose Mercury News: East Palo Alto Voters Could Approve New Rent Control Law Tuesday
May 26, 2010, The Registry: City National Bank Sues To Secure Payment From Fund Manager
May 7, 2010, Palo Alto Weekly: Rents At Former Page Mill Apartments Rolled Back
May 6, 2010, San Jose Mercury News: Wells Fargo Reducing Rents At 437 Ex-Page Mill Units
Apr 30, 2010, CalPensions: How CalPERS Bet Big On Real Estate And Lost
Apr 26, 2010, Palo Alto Weekly: Assembly Bill Targets 'Predatory Equity' Investments
Apr 26, 2010, CalPensions: Scandals Drive Democratic Pension Reforms
Apr 22, 2010, San Jose Mercury News: East Palo Alto Residents Head To State Capital For Pro-Tenant Bill
Apr 22, 2010, IPE Real Estate: CalPERS Takes Social Action To Protect Rent Rates For Lower-Income Households
Apr 22, 2010, San Francisco Chronicle: Big Bucks Pushing To 'Stop Hidden Taxes'
Apr 20, 2010, Central Valley Business Times: CalPERS Adopts Tenant-Oriented Rental Policy
Apr 19, 2010, Capitol Weekly: California's Public Pension Funds: Is Internal Reform Enough?
Apr 19, 2010, The Registry: CalPERS Changes Multi-Family Investment Policy
Apr 19, 2010, Bloomberg: CalPERS' Board Approves Policy Shift To Protect Rent Control
Apr 19, 2010, Associated Press: CalPERS Changes Policy On Real Estate Investing
Apr 15, 2010, Wall Street Journal: CalPERS Rule Would Limit Evictions At Investments
Apr 15, 2010, San Francisco Chronicle: Chamber Of Commerce Pushes Anti-Tax Initiative
Apr 14, 2010, Sacramento Bee: CalPERS, CalSTRS Plan To Change Realty Investment Policy
Apr 13, 2010, Pensions & Investments: CalPERS Eyes Ban On Rent-Control Conversion Investments
Apr 13, 2010, Sacramento Bee: CalPERS, CalSTRS Might Revise Housing Policies
Apr 1, 2010, Palo Alto Weekly: Page Mill Investors Sue Firm Over Millions
Mar 26, 2010, San Francisco Business Times: Former Schwab CEO Pottruck, Others, Sue Keiretsu Forum
Mar 25, 2010, San Jose Mercury News: Investors In Page Mill's East Palo Alto Apartments Sue Landlord
Mar 24, 2010, The Registry: Lawsuit Accuses Keiretsu Forum Founder, Fund Manager Of Fraud
Mar 22, 2010, San Jose Mercury News: Nonprofit To Hold Community Meetings On Page Mill Buildings' Future
Mar 12, 2010, Sacramento Bee: California Public Pension Funds Take New Hits On Real Estate Investments
Mar 11, 2010, San Francisco Chronicle: More Real Estate Woes For CalPERS
Mar 10, 2010, San Jose Mercury News: East Palo Alto Council Approves Revised Rent Law
Mar 9, 2010, Palo Alto Weekly: East Palo Alto Seeks To Revise Its Rent-Control Law
Mar 4, 2010, San Jose Mercury News: Future Of East Palo Alto Settlement Talks Uncertain
Mar 3, 2010, The Registry: Page Mill Properties Go Back To Bank
Mar 3, 2010, Bay City News Service: Wells Fargo Forecloses On Large Peninsula Landlord
Mar 3, 2010, San Francisco Business Times: Wells Takes Over East Palo Alto Portfolio
Mar 3, 2010, Palo Alto Weekly: Wells Fargo Takes Ownership Of 1,800 EPA Units
Mar 2, 2010, San Jose Mercury News: Wells Fargo Becomes East Palo Alto's Largest Landlord
Mar 1, 2010, San Jose Mercury News: Appellate Court: East Palo Alto Won't Have To Pay $472K
Feb 26, 2010, San Francisco Chronicle: A Brutal Two Years For Those In CalPERS
Feb 25, 2010, Sacramento Bee: California Bill Targets Pension Fund Investments In Rent-Controlled Apartments
Feb 25, 2010, San Jose Mercury News: State Lawmaker Introduces Bill Inspired By East Palo Alto Evictions
Feb 24, 2010, Wall Street Journal: Backlash Hits CalPERS Property Deals
Feb 21, 2010, Associated Press: Mortgage Crisis Brings Creeping Decay To Middle-Class Apartment Buildings From California To NY
Feb 18, 2010, Reuters: CalPERS Names Firms Not Responding On Placement Agents
Feb 5, 2010, San Jose Mercury News: Court Of Appeal Reverses Decision To Award Page Mill Fees In Case Against East Palo Alto
Feb 4, 2010, Beyond Chron: Crucial Moment For Affordable Housing In Silicon Valley
Jan 30, 2010, Palo Alto Daily News: Auction Of Page Mill's East Palo Alto Properties Delayed
Jan 22, 2010, Palo Alto Weekly: EPA Prepares For Page Mill Lawsuit Negotiations
Jan 20, 2010, Los Angeles Times: CalPERS' Investments Underperform In 2009
Jan 7, 2010, Palo Alto Weekly: Page Mill Properties Buildings Face Auction
Jan 6, 2010, San Jose Mercury News: Page Mill's East Palo Alto Buildings To Hit The Auction Block Feb. 1
Dec 31, 2009, Oakland Tribune: Economy Top San Mateo County Story Of '09
Dec 30, 2009, San Jose Mercury News: East Palo Alto May Settle Page Mill Lawsuits
Dec 28, 2009, Pensions & Investments: How CalPERS Strategy Backfired
Dec 10, 2009, Wall Street Journal: Firm Takes Heat Over East Palo Alto Crime
Dec 1, 2009, Oakland Tribune: East Palo Alto Renters To Rally In Front Of City Hall Tonight
Nov 22, 2009, Washington Post: Renters Not Immune To Foreclosure Crisis
Nov 16, 2009, Sacramento Bee: CalPERS Realty Deals And Image Take A Beating
Nov 4, 2009, San Francisco Bay Guardian: The Pension Fund Evictions
Oct 22, 2009, San Jose Mercury News: San Mateo County Agency Rejects Attempt To Unincorporate Western East Palo Alto
Oct 13, 2009, San Jose Mercury News: San Mateo Construction Firm Sues Page Mill For Alleged Unpaid Work
Oct 2, 2009, San Jose Mercury News: Page Mill's East Palo Alto Properties Now In Default
Oct 1, 2009, The Registry: 'Radical Gentrification' In East Palo Alto
Sep 30, 2009, The Registry: Wells Fargo Foreclosing On Taran, Page Mill Properties
Sep 25, 2009, San Jose Mercury News: Embattled East Palo Alto Real Estate Empire Teeters On Collapse
Sep 23, 2009, San Jose Mercury News: Page Mill's East Palo Alto Buildings Get New Property Manager
Sep 17, 2009, San Jose Mercury News: East Palo Alto Rent Law Won't Appear On November Ballots
Sep 10, 2009, San Jose Mercury News: Court-appointed Receiver To Run Page Mill's East Palo Alto Units
Sep 10, 2009, The Registry: Court Receiver Takes Control
Sep 10, 2009, San Jose Mercury News: Wells Fargo To Seek 3rd Party Intervention In Page Mill Dispute
Sep 9, 2009, The Registry: Palo Alto Developer Losing $340 Million Bet With CalPERS Money
Sep 9, 2009, Palo Alto Weekly: Wells Fargo Seeks Receivership For Page Mill Buildings
Sep 5, 2009, San Jose Mercury News: East Palo Alto's Largest Landlord Losing Control Of Properties
Sep 4, 2009, Palo Alto Weekly: Page Mill Closes Offices, Fuels Speculation
Sep 4, 2009, Palo Alto Weekly: Tenants Win Suit Against Page Mill Properties
Sep 3, 2009, Palo Alto Weekly: Page Mill: Change East Palo Alto Boundaries
Sep 3, 2009, Palo Alto Daily News: Judge Rules In Favor Of Page Mill Tenants
Sep 3, 2009, Beyond Chron: Predatory Landlord Scheme Starts To Unravel In East Palo Alto
Sep 2, 2009, Palo Alto Weekly: Tenants Win Injunction Against Page Mill
Sep 1, 2009, San Jose Mercury News: Page Mill Could Lose Ownership Of East Palo Alto Properties
Aug 28, 2009, San Jose Mercury News: Page Mill Seeks To Remove West Side Of East Palo Alto From City Limits
Aug 17, 2009, San Jose Mercury News: East Palo Alto, County Sued Over New Rent Control Law
Aug 7, 2009, San Jose Mercury News: East Palo Alto Sends Proposed Rent Control Ordinance To County
Jul 31, 2009, San Jose Mercury News: Judge: Restraining Order Against East Palo Alto Only Applied To One Meeting
Jul 30, 2009, San Jose Mercury News: Judge Issues Temporary Restraining Order Against East Palo Alto
Jul 16, 2009, San Jose Mercury News: East Palo Alto Working On Final Rent Law Changes
Jun 19, 2009, San Jose Mercury News: Judge Rules Against Page Mill In 1643 Woodland Case
Jun 18, 2009, FRC: Predatory Real Estate Fund Undermines Wells Fargo's And CalPERS' Claims Of Corporate Responsibility
Jun 12, 2009, San Jose Mercury News: Palo Alto Police Investigate Allegations Against Former Lieutenant
Jun 4, 2009, San Jose Mercury News: Page Mill To Evict Prominent Tenant Organizer In East Palo Alto
May 20, 2009, San Jose Mercury News: Hearing Examiner Rules For 136 Tenants Against East Palo Alto Landlord
May 14, 2009, San Jose Mercury News: Tenants Group: East Palo Alto Landlord Evicting Many Residents
May 7, 2009, San Jose Mercury News: East Palo Alto Council Gives Finalized Recommendations On Rent Control Law Changes
May 4, 2009, Beyond Chron: Is East Palo Alto Landlord Paying Bloggers To Promote Tenant Displacement?
Apr 30, 2009, FRC: Official Eviction Data Expose Disproportionate Displacement Of Page Mill Tenants
Apr 25, 2009, San Jose Mercury News: East Palo Alto Working On Changes To Rent Law For November Elections
Apr 25, 2009, East Palo Alto Today: Evictions Soar In East Palo Alto
Apr 11, 2009, San Jose Mercury News: Page Mill Files New Suit Against East Palo Alto Alleging Rent Board Wrongly Denied Exemption Claims
Mar 20, 2009, San Jose Mercury News: DA Deciding Whether To File Criminal Charges In 2007
East Palo Alto Electrocution Death Of Page Mill Employee
Mar 11, 2009, Palo Alto Weekly: Page Mill Tenants Protest Through Palo Alto
Mar 4, 2009, San Jose Mercury News: Officer Under Fire Steps Down
Mar 2, 2009, Palo Alto Weekly: Page Mill Security Consultant Retires As Officer
Feb 24, 2009, Palo Alto Weekly: Palo Alto Police Lieutenant Ends 'Security' Job
Feb 22, 2009, Palo Alto Daily News: Stop, Or We'll Sue
Feb 21, 2009, Palo Alto Daily News: Palo Alto Police Lieutenant No Longer Does Contract Work For Page Mill
Feb 10, 2009, Palo Alto Weekly: Tenants Lash Out Against Police Investigation
Feb 6, 2009, Palo Alto Daily News: Owner, Activist Trade Barbs
Feb 2, 2009, CalPensions: CalPERS: Pushing Out The Poor
Jan 24, 2009, San Jose Mercury News: Attorneys For Page Mill And Its East Palo Alto Tenants Clash During Legal Hearing Over Rent Increases
Jan 22, 2009, Palo Alto Daily News: Legal Entanglements Between East Palo Alto, Page Mill Worsen
Dec 17, 2008, San Jose Mercury News: East Palo Alto Council Asks CalPERS To Pull Investments In Page Mill Properties
Dec 17, 2008, Palo Alto Weekly: EPA Calls Page Mill Properties 'Predatory'
Dec 16, 2008, CLSEPA: Battle Over Rent Control Still Rages In East Palo Alto, Page Mill Properties' Relations With City Officials Remain Bitter
Dec 5, 2008, Palo Alto Weekly: Tenants Allege Harassment In East Palo Alto
Nov 27, 2008, Palo Alto Daily News: Page Mill Claims Win Over East Palo Alto In Rent-Control Suits
Nov 18, 2008, Palo Alto Daily News: Page Mill Tenants Share Experiences
Oct 24, 2008, Palo Alto Weekly: Lives Hanging In The Balance
Oct 8, 2008, Palo Alto Weekly: Judge Overturns Ruling In EPA Rent Case
Oct 4, 2008, Palo Alto Daily News: Judge Stays East Palo Alto Rent Hikes
Sep 16, 2008, Palo Alto Daily News: City Gets Hands On Page Mill Documents
Sep 8, 2008, San Mateo Daily News: Page Mill Suffers Legal Setback
Aug 13, 2008, Oakland Tribune: East Palo Alto Law Clinic Preparing Page Mill Database
Jul 28, 2008, Palo Alto Daily News: Page Mill Properties Target Of Lawsuit
Jul 18, 2008, Silicon Valley Business Journal: Offers Made On 1,700 Page Mill Units
Jun 16, 2008, Palo Alto Weekly: New Rent Increases To Hit 'Page Mill' Tenants
Apr 7, 2008, Silicon Valley Debug: Small Town Love - East Palo Alto Families Sweat Rent Hikes
Mar 10, 2008, Daily Californian: East Palo Alto Seeks Berkeley's Advice On Rent Stabilization
Feb 25, 2008, Palo Alto Weekly: Court Overturns East Palo Alto Rent Freeze
Jan 10, 2008, Oakland Tribune: East Palo Alto Council Passes 6-Month Freeze On Rent Hikes
Dec 28, 2007, Silicon Valley Business Journal: CalPERS Backs Page Mill Plan
Dec 19, 2007, Palo Alto Weekly: Man Killed Hanging Christmas Lights Is Identified
Dec 15, 2007, Palo Alto Weekly: Man Dies While Hanging Christmas Lights
Dec 13, 2007, Palo Alto Weekly: Rent Increases Hit East Palo Alto Tenants Hard
Dec 11, 2007, Palo Alto Weekly: East Palo Alto Tenants To Protest Rent Increases
Other Useful Articles: TOP
Oct 26, 2010, New York Times: Stuyvesant Town's Lenders Take Over Property
Oct 20, 2010, Wall Street Journal: A Bellwether Buy In The Bay Area
Oct 14, 2010, Sacramento Bee: N.Y. Fines Law Firm For CalPERS Dealings
Oct 1, 2010, Los Angeles Times: Schwarzenegger Signs Pension Fund Transparency Bill
Sep 21, 2010, Associated Press: California Pension Bonuses Examined
Sep 16, 2010, The Economist: Investor, Heal Thyself
Sep 13, 2010, New York Times: Stuyvesant Town Tenants Are Offered Co-op Plan
Sep 9, 2010, Bloomberg: Cleaning Up CalPERS
Sep 6, 2010, New York Times: Hope For A Bronx Tower Of Hip-Hop Lore
Sep 1, 2010, Sacramento Bee: CalPERS Board Member With Ties To Villalobos Resigns
Aug 27, 2010, Sacramento Bee: Suspended CalPERS Executive Resigns
Aug 20, 2010, Los Angeles Times: State Ethics Officials Launch Investigation Into Luxury Trips Taken By CalPERS Staff
Aug 19, 2010, Los Angeles Times: CalPERS Investment Staff Receive Luxury Travel, Gifts From Financial Firms
Aug 15, 2010, Sacramento Bee: Policy Shift Helped Lobbyist Crack CalPERS
Aug 6, 2010, Crain's New York Business: Stuy-Town Tenants Take Home Big Win
Aug 5, 2010, New York Times: Sale Of Troubled Buildings May Not Mean Rescue
Jul 30, 2010, Sacramento Bee: Dan Walters: Pension Hike Revelations Show Massive Failure
Jul 2, 2010, Courthouse News Service: State Hides 'Scandal Tainted' Info, Times Says
Jun 30, 2010, Fortune: CalPERS And Risk: Together Forever?
Jun 22, 2010, Wall Street Journal: Judge Approves Stuyvesant Town Foreclosure
Jun 11, 2010, San Francisco Chronicle: Fate Of S.F.'s Parkmerced Complex In Limbo
Jun 11, 2010, Los Angeles Times: CalPERS To Resume Seeking Another $700 Million In Tax Money
Jun 10, 2010, Crain's New York Business: Stuy Town Rent Deal Extended
Jun 1, 2010, Beyond Chron: Parkmerced In Default: What Now For Owners' Plan To Bulldoze Over 1,500 Rent-Controlled Homes?
May 28, 2010, New York Times: Owners Bet On Raising The Rent, And Lost
May 26, 2010, San Francisco Chronicle: Parkmerced Owners Say They'll Survive Loan Woes
May 13, 2010, Wall Street Journal: Stuyvesant Tenants Invite CalPERS To Join Bid
May 13, 2010, Sacramento Bee: CalPERS May Present Higher Bill To State
May 12, 2010, New York Observer: California Steaming
May 7, 2010, Los Angeles Times: CalPERS May See More Lawsuits
May 6, 2010, Los Angeles Times: State Sues Two Former CalPERS Officials
May 4, 2010, National Real Estate Investor: CMBS Delinquency Rate Hits A Record 8%
May 1, 2010, New York Post: Appaloosa Bid To Join Stuyvesant Town Foreclosure Suit Is Denied
Apr 26, 2010, Wall Street Journal: Pension Bomb Ticks Louder
Apr 20, 2010, New York Observer: The Man Who Would Rule Stuy Town
Apr 19, 2010, New York Times: U.S. Offers A Hand To Those On Eviction's Edge
Apr 19, 2010, Pensions & Investments: Peeling The Layers From CalPERS' Realty Investments
Apr 19, 2010, Pensions & Investments: Public Funds Wrestling With Bonus Conundrum
Apr 16, 2010, San Francisco Chronicle: More To Come In Pension Corruption Probe For Democratic Heavyweight Darius Anderson?
Apr 16, 2010, Sacramento Bee: Sacramento Lobbyist To Pay $500,000 To Settle New York Pension Probe
Apr 9, 2010, BusinessWeek: Stuyvesant Town Boosts March U.S. CMBS Delinquencies
Apr 6, 2010, New York Times: Analysis Of California Pensions Finds Half-Trillion-Dollar Gap
Mar 30, 2010, New York Times: Real Estate's Crash Recasts A Scorned Landlord As A Potential Savior
Mar 26, 2010, Wall Street Journal: CalPERS Deals Part Of Probe By Justice Into Pay-Play
Mar 19, 2010, Crain's New York Business: Tenants Seek Ouster Of Harlem Property Manager
Mar 13, 2010, Associated Press: Middle-Class NYC Apartment Complex Sold At Auction
Mar 12, 2010, Sacramento Bee: Darius Anderson Helped Republican Heavy Win Pension Money
Mar 10, 2010, New York Times: Former Hevesi Aide Pleads Guilty In Pension Case
Mar 10, 2010, New York Observer: Private Equity's Good
Mar 8, 2010, New York Times: Public Pension Funds Are Adding Risk To Raise Returns
Mar 8, 2010, Sacramento Bee: Pension Funds Slip Deep Into The Abyss
Mar 8, 2010, New York Daily News: Harlem Tenants At Riverton Houses Anxious Over Sale, Hikes
Mar 5, 2010, Los Angeles Times: A Son's Lament For CalPERS' Big Losses
Mar 2, 2010, San Francisco Chronicle: Reforms To CalPERS Pension Face Uphill Battle
Mar 1, 2010, Wall Street Journal: CalPERS Confronts Cuts To Return Rate
Feb 24, 2010, San Diego Union-Tribune: Indifference To Outrage: Latest CalPERS' Revelations Barely Seem To Register With State Leaders
Feb 24, 2010, New York Times: Hedge Fund Moves On Stuyvesant Town
Feb 18, 2010, BusinessWeek: The Pension Fund Beating Private Equity
Feb 18, 2010, New York Times: A Sight All Too Familiar In Poor Neighborhoods
Feb 17, 2010, The Registry: Experts: Real Commercial Property Carnage Hasn't Begun
Feb 16, 2010, The Guardian: Wells Fargo Chairman Is America's Highest Paid Banker
Feb 15, 2010, New York Times: Worry At Stuyvesant Town As Foreclosure Draws Near
Feb 11, 2010, New York Times: Landlord To Pay $1 Million Over Treatment Of Tenants
Feb 2, 2010, New York Times: Riverton Houses In Harlem To Be Sold In Foreclosure
Jan 30, 2010, New York Times: All Those Little Stuyvesant Towns
Jan 25, 2010, New York Times: Fallout Is Wide In Failed Deal For Stuyvesant Town
Jan 25, 2010, New York Times: Huge Housing Complex In N.Y. Returned To Creditors
Jan 22, 2010, Sacramento Business Journal: CalPERS To Buy Real Estate This Year
Jan 16, 2010, Sacramento Bee: CalPERS Should Reveal The Laggards
Jan 15, 2010, Sacramento Bee: CalPERS Reveals Middlemen Paid $125 Million To Win Fund's Business
Jan 14, 2010, Sacramento Bee: Middlemen Earn Huge Fees From CalPERS
Jan 11, 2010, Los Angeles Times: CalPERS To Disclose Details About Intermediaries
Jan 8, 2010, Wall Street Journal: Tishman, Blackrock Default On Stuyvesant Town
Jan 7, 2010, Wall Street Journal: U.S. Now A Renters' Market
Jan 4, 2010, The Californian: Cities, Counties Brace For Pension Crises
Jan 1, 2010, The Atlantic: Capitalist Fools
Dec 30, 2009, New York Times: Memphis Accuses Wells Fargo Of Discriminating Against Blacks
Dec 30, 2009, San Diego Union-Tribune: CalPERS: Clean House
Dec 24, 2009, Property Wire: US Commercial Property Values Now At Lowest For Seven Years, Latest Figures Show
Dec 23, 2009, New York Times: Banks Bundled Bad Debt, Bet Against It And Won
Dec 22, 2009, The Times: Investor Collapse Puts 1,000 New York Homes At Risk
Dec 18, 2009, New York Magazine: The Biggest, Baddest Real-Estate Loan
Dec 18, 2009, Wall Street Journal: Discord Behind TARP Exits
Dec 11, 2009, Los Angeles Times: CalPERS, CalSTRS See Long-Term Credit Ratings Lowered
Dec 9, 2009, Los Angeles Times: CalPERS Axing Investment Managers Over Real Estate Losses
Dec 8, 2009, Bloomberg: CalPERS Real Estate Holdings Decline 30% During First Quarter
Dec 7, 2009, Crain's New York Business: 10% Of NYC's Low-Cost Housing Seen Deep In Debt
Dec 7, 2009, Bloomberg: No Escape From TARP For U.S. Banks Choking On Real Estate Loans
Dec 6, 2009, Sacramento Bee: Governor To Give CalPERS More Funds Than It Asked For
Dec 3, 2009, Fortune: Why Wells Fargo Hasn't Paid U.S. Back
Dec 2, 2009, New York Times: New Landlord Is Chosen For Troubled Bronx Buildings
Dec 1, 2009, San Francisco Magazine: War Of Values
Nov 30, 2009, PublicCEO: CalPERS' Piece Of Budget Woes Gaining Attention
Nov 30, 2009, Reuters: Wells Fargo Looks Pricey Given TARP, Mortgage Losses
Nov 25, 2009, Wall Street Journal: CalPERS Weighs Booting BlackRock
Nov 17, 2009, Los Angeles Times: CalPERS Board Votes To Tighten Disclosure Rules For Middlemen
Nov 10, 2009, The Registry: CalPERS Endures $4.2 Billion Quarterly Loss In Real Estate
Nov 9, 2009, Los Angeles Times: CalPERS' Image Takes A Hit
Nov 7, 2009, Los Angeles Times: CalPERS To Consider Requiring Placement Agents To Register As Lobbyists
Nov 5, 2009, BusinessWeek: Why This Real Estate Bust Is Different
Oct 24, 2009, Wall Street Journal: MacFarlane Resigns As Adviser To CalPERS
Oct 23, 2009, Reuters: Laying On Bets At America's Biggest Pension Fund
Oct 23, 2009, Wall Street Journal: After A Decade-Plus Together, CalPERS Reviews Apollo Ties
Oct 18, 2009, New York Times: The Banks Are Not All Right
Oct 16, 2009, Commercial Mortgage Alert: Lenders Gloomy As Credit Crunch Drags On
Oct 15, 2009, Sacramento Bee: CalPERS Could Lose $500 Million On N.Y. Real Estate Deal
Oct 15, 2009, Wall Street Journal: An Apartment Complex Teeters
Oct 15, 2009, Wall Street Journal: CalPERS Rocked By 'Pay to Play'
Oct 14, 2009, Washington Post: Bank Regulators: Real Estate Loans Biggest Concern
Oct 14, 2009, Washington Post: CalPERS Launches Probe Of Placement Agent Fees
Oct 11, 2009, Washington Post: Steep Losses Pose Crisis For Pensions
Oct 7, 2009, The Registry: Apartments Prove Anchor In The Storm
Oct 6, 2009, New York Times: Debt-Market Paralysis Deepens Credit Drought
Sep 17, 2009, BankImplode: Wells Fargo's Commercial Portfolio Is A Ticking Time Bomb
Sep 17, 2009, Huffington Post: Predatory Equity
Sep 9, 2009, New York Times: Buyers Of Huge Manhattan Complex Face Default Risk
Sep 3, 2009, Wall Street Journal: Wells Fargo's Tight Lips Drag On Shares
Sep 1, 2009, New York Times: For Commercial Real Estate, Hard Times Have Just Begun
Aug 31, 2009, San Francisco Chronicle: Commercial Mortgage Defaults In Bay Area Rising
Aug 19, 2009, Wall Street Journal: CalPERS Takes Another Property Hit
Jul 31, 2009, San Francisco Examiner: Lawsuit Alleges CitiApartments Drained Tenant Deposit Accounts
Jul 23, 2009, New York Times: California Pension Fund Hopes Riskier Bets Will Restore Its Health
Jul 22, 2009, Wall Street Journal: CalPERS Has Worst Year, Off 23.4%
Jul 14, 2009, San Jose Mercury News: Silicon Valley Apartment Rents Fall 3.8%; Biggest Decline In Nation
Jul 14, 2009, New York Times: Struggling Landlords Leaving Repairs Undone
Jul 1, 2009, Mother Jones: Flip This Project
Jun 2, 2009, Sacramento Bee: RIP For CalPERS' Bad Real Estate Deal?
May 19, 2009, Washington Post: Federal Reserve To Widen Commercial Real Estate Lending Program
Apr 19, 2009, Sacramento Bee: CalPERS, CalSTRS Award Big Bonues Despite Losses
Mar 26, 2009, Wall Street Journal: Commercial Property Faces Crisis
Mar 25, 2009, New York Times: Cities Deal With A Surge In Shanty Towns
Mar 5, 2009, New York Times: Big Landlord Found To Have Wrongly Raised Rents
Feb 1, 2009, New York Magazine: Clash Of The Utopias
Jan 28, 2009, Wall Street Journal: For San Francisco Landlord, Bell Tolls On A Heavy-Debt Plan
Jan 28, 2009, New York Times: Wells Fargo Posts Loss As Wachovia Takes Toll
Jan 21, 2009, San Francisco Chronicle: Bay Area Rental Market Gives Tenants An Edge
Jan 4, 2009, Sacramento Bee: CalPERS Took Huge Gamble At The Worst Time
Dec 24, 2008, Palo Alto Daily News: Homeless Service Exhausted
Dec 17, 2008, Real Estate Weekly: Affordable Housing: Private Equity Solution To Predatory Equity
Dec 17, 2008, Wall Street Journal: Risky, Ill-Timed Land Deals Hit CalPERS
Dec 16, 2008, New York Times: A List A Landlord Doesn't Want to Be On
Oct 5, 2008, New York Times: Mortgage Crisis Is Foreseen In Housing Owned By Private Equity Firms
Oct 4, 2008, Washington Post: After Change In Tax Law, Wells Fargo Swoops In
Oct 4, 2008, Wall Street Journal: Wachovia Chooses Wells Fargo, Spurns Citi
Oct 3, 2008, New York Times: Wells Fargo To Buy Wachovia
Oct 2, 2008, Crain's New York Business: 'Predatory Equity' Smothering Affordable Housing
Aug 26, 2008 New York Times: Fear Of Defaults After A Flurry Of Apartment House Sales
May 19, 2008, Los Angeles Times: Misjudging The Landscape
May 9, 2008, New York Times: Questions Of Rent Tactics By Private Equity
May 7, 2008, Wall Street Journal: Wachovia's Big-Loan Executive Is Leaving
Feb 29, 2008, Commercial Mortgage Alert: Soaring Debt Yields Luring Fund Operators
Jul 13, 2007, San Francisco Business Times: Lembis Pump $200M Into Growing Housing Empire
Aug 17, 2006, San Francisco Examiner: S.F. Sues Major Residential Rental Firm
Television Coverage: TOP
Jun 9, 2010, ABC 7: Parcel Tax, Rent Stabilization Measures Appear To Have Passed
Apr 19, 2010, CBS 5: CalPERS Changes Policy On Real Estate Investing
Dec 11, 2009, CBS 5: Some Blame Firm On East Palo Alto Crime Spike
Sep 8, 2009, ABC 7: Residents Upset Bank Shut Off Apartment Account
Apr 23, 2009, Cable Channel 27: Talking With Henrietta; Is Anyone Being Treated Unfairly?
Jul 26, 2008, Univision Noticias 14: East Palo Alto Rent Petition Drive Draws Hundreds of Page Mill Residents
Dec 13, 2007, CBS 5: East Palo Alto Tenants Angry Over Rent Hikes
Radio Coverage:
Mar 21, 2010, NPR: Gambling To Fix Pensions Can Lead To A Bigger Bind
Mar 3, 2010, KLIV: 1,800 East Palo Alto Apartments Turned Over To The Bank
Dec 30, 2009, KLIV: East Palo Alto Could Be Settling Page Mill Properties Lawsuit
Dec 22, 2009, WNYC: Speculative Real Estate Deals Put Buildings At Risk
Nov 12, 2009, Marketplace: Investors In Apartments Are Squeezed
Oct 12, 2009, NPR: Some Tenants Pay The Price For Mortgage Excesses
Sep 8, 2009, KCBS: Tenants Concerned About Landlord's Finances
Sep 5, 2009, KLIV: Page Mill Properties Closes Offices
Other Coverage:
Page Mill Properties Watch
TOP Contact: EPA-TENANTS.OR2
Media Coverage of the Crisis
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Crisis Statistics
Where to Find Help
How You Can Help
*Media Coverage
Litigation
Document Archive
Resolutions
CalPERS' Role
Wachovia's Role
Other Participants
For Page Mill Staff
Page Mill Executives
Tenant Stories
Photos & Flyers
Upcoming Events
About Us
