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Good evening, and welcome to tos meeting of the Commonwealth Club of california, the place where youre in the know. You can find the Commonwealth Club on the internet at commonwealthclub. Org. Im Andrew Leonard from salon. Com, your moderator for this evenings program. To my left is Erik Brynjolfsson and Andrew Mcafee who are researchers at the Mit Sloan School of management. Erik is the directer of the mit center for Digital Business and andrew is the Principal Research scientist. The two men made a name for themselves a couple of years ago with their selfpublished book, race against the mach...

His pistol and a russian Cruise Missile missile. These are all one in the same because they involve the technology and the chemistry of gunpowder, right quest of course not, we would never do that but somehow its accessible in this space. Or take the organizations for example i had a senior u. S. Military official argue with me that and al qaeda were the same thing. Wherever you stand on anonymous and i have a good outfit i am more pathetic towards them than anyone in the d. C. s security establishment but the bottom line is wherever you stand on than they differ from al qaeda in everything fr...

Projector, please. Right. Again pointing on this column, the market value assets at the end of the financial, what they call the great recession, just under 12 billion. And then increasing to 17 billion which reflected a market value funding status of 84 . I am happy to report with the markets so far this year, through the end of april, we have exceeded 19 billion in assets. And on target to return over 14. 5 return for the current fiscal year. Again as long as the Financial Markets hold through june 30, it seems arbitrary but that is the time that we do a snapshot and measure the health of th...

Budget and finance committee, i am mark farrell, i will chairing this meeting, and want to thank sfgtv for taping this meeting. Clerk, any announcements . Yes, chair, please silence all phones and submit documents to be submitted to the clerk, as today will appear on the may 33 meeting. Call item 1. Item 1, proposed budget and appropriation ordinance for selected departments as of may 1, 2014, fiscal yearending june 30, 2015 to june 30, 2016. Item 2, proposed annual salary ordinance for selected departments for yearending june 30, 2015 and june 30, 2016. Item 3, hearing for mayors proposed bud...

Membership broke out by active and vested and reciprocal members. Active members over a fiveyear period are still in a decrease from the level of active employees we had as members in 200809. And you can see the effects of the streamlining of the positions. Going through and coming out of that difficult period. We also show the active to retiree ratio and you see that its steadily declining but not as quickly over the last three years in the prior two years of this fiveyear snapshot. And you will notice that retired members increase by over 16 over the same fiveyear period. And that we continu...