Here's your daily briefing...
Napolitano complex?: University of California President Janet Napolitano will likely face some serious grilling today as she goes before the Board of Regents after an audit identified a $175 million dollar secret reserve fund and the auditor accused Napolitano of interfering with the financial investigation.
Diesel scandal yields electric promise: German carmaker Volkswagen AG agreed to pay the State of California $66 million in the wake of additional revelations related to the company’s smog-cheating software. The money will finance programs promoting electric vehicles.
Invest to close deficit?: State bureaucrats are examining a novel but possibly unsound way to reduce California’s unfunded pension liability. The Brown administration is urging the state let CalPERS invest some cash languishing in low-interest accounts. Officials say there may not be time to adequately study the proposal this year before the budget is settled.
And on the California Report: Former FBI Director Robert Mueller Special Counsel to Oversee Russia Probe…A Potential New State Law Could Set a Sliding Scale for Traffic Fines…Trump Backs California Charter Schools, But the Feeling Isn’t Mutual.