Texas
Texas has millions invested in Russia, but Ukraine war has set off scramble to back out
/cloudfront-us-east-1.images.arcpublishing.com/dmn/CCNBAGJM3FBBLN4GYDBB4PHA3U.jpg "Texas has millions invested in Russia, but Ukraine war has set off scramble to back out")
AUSTIN — Funding funds managed by Texas’ state authorities have practically $220 million invested in Russia as of March 31, seemingly a dramatic drop-off for the reason that nation’s invasion of Ukraine.
The managers of state-run funding funds such because the Instructor Retirement System have been scrambling for weeks to divest from Russia because the nation has been hit with drastic financial sanctions, lowering many investments there to junk.
Monetary managers immediately and not directly tied to Texas’ funding funds have been promoting off in addition to “zeroing out” — lowering the anticipated worth of an funding to $0 on the stability sheet — many investments that stay on the books, stated Mike Reissig, the Texas comptroller’s workplace’s chief funding officer.
Texas’ direct funding in Russia was restricted earlier than the invasion of Ukraine, and whereas the $220 million remaining is roughly sufficient cash to purchase practically three F-35 fighter jets, it represents a pittance of the state’s gargantuan funding swimming pools, valued at greater than $450 billion.
Reissig offered the figures Wednesday to a gathering of the Senate Committee on Finance, throughout which Sen. Paul Bettencourt announced that each state senator had signed a letter to Lt. Gov. Dan Patrick calling for work to start on legal guidelines requiring the state to boycott funding into firms that spend money on Russia.
“It’s an essential assertion,” Bettencourt, a Houston Republican, stated of the letter. “We’ve got to underline all of this with the truth that we merely can’t do enterprise, we merely can’t be an investing celebration because the state of Texas within the Russian Federation underneath its present management so long as they’re conducting a completely aggressive warfare.”
TX Gov has to divest from the Russian Federation as a result of the immoral Ukraine Battle will go on so long as Putin wills it. Confirmed letter from 31 Senators for cost approval by Lt Gov @DanPatrick. I’d count on that TX will be a part of different states by laws subsequent session #txlege @TPPF pic.twitter.com/mfD5iAYAu9
— Crew Bettencourt (@TeamBettencourt) May 4, 2022
Reissig stated Texas’ funding in Russia seemingly has decreased considerably prior to now six weeks. He solely may communicate immediately for the Texas Treasury Safekeeping Belief, a $114 billion fund overseen by the comptroller’s workplace. Extra particular figures relating to Russian divestiture in different funds weren’t offered.
In February, Comptroller Glenn Hegar requested the treasury belief’s managers to determine and start divestment from Russia. They discovered no direct funding within the Moscow change and $18.6 million in oblique funding in funds managed by outdoors managers.
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As of March 31, the belief has divested 93% of its funding in Russia, with about 70% bought and 30% of these values diminished to zero.
“That’s fairly widespread at this level,” Reissig stated of zeroing out the values of Russian investments that may now be thought-about nugatory.
The dialogue sparked some speak amongst senators Wednesday of increasing a Texas embargo on overseas funding to a different potential adversary — China. Jacksonville Sen. Robert Nichols stated the Senate may take into account that in subsequent yr’s legislative session.
No figures have been instantly accessible on the scope of Texas’ funding in China, however it’s seemingly fairly massive.
“We’ve got quite a bit invested in China,” stated Houston Republican Sen. Joan Huffman, the finance committee chairwoman.
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A common theme for No. 22 TCU has been their complete dominance on their home floor this season. The Horned Frogs finished the year 14-1 at Schollmaier Arena. On Friday night, in front of over 3,000 fans, TCU swept Texas Tech (25-14, 26-24, 25-11).
The four seniors honored by TCU were Melanie Parra, Cecily Bramschreiber, Stephanie Young and Ashlyn Bourland. All four players found ways to contribute as Parra finished with 14 kills and seven digs. Bramschreiber filled up the stat sheet with four kills, four aces and seven digs. Both Young and Bourland got an ace.
Both teams traded points in the early going, but Bramschreiber sparked a 7-2 run to give the Frogs a 16-9 lead. TCU hit .417 in the first set and dominated the first set capped off by a Becca Kelley ace.
In set two, Texas Tech made things much closer jumping out to a 8-5 lead. A 4-0 run from TCU put them back in front. This set included multiple runs and it was Tech that got it to set point leading 24-22. TCU was able to end the set on a 4-0 run courtesy of kills from Jalyn Gibson and Parra paired with aces from Bramschreiber.
Trying to keeps things alive, TCU wasn’t met with much resistance from the Red Raiders in the third set. The Frogs kept up the pressure with multiple runs to build a massive 17-8 lead. Bourland picked up her first career ace and an attack error ended things.
It was a fun night for the seniors that played in front of the TCU crowd for the last time. The 14 wins at home tied the school record for most wins at home in a single season. They also picked up the most wins in a season since 2015. What Jason Williams has done for this program in such a short time has been remarkable to watch.
The Frogs move to 19-7 overall 11-5 in conference. They still are fifth in the Big 12 standings with two games to go. They will travel to Morgantown on Wednesday to take on West Virginia at 6 p.m. and then to Cincinnati on Friday at 1 p.m.
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Texas Attorney General Ken Paxton announced a lawsuit Thursday targeting the blue city of Dallas over a ballot measure that decriminalizes marijuana.
Paxton alleges that Proposition R, which “prohibits the Dallas Police Department from making arrests or issuing citations for marijuana possession or considering the odor of marijuana as probable cause for search or seizure,” violates state law.
The attorney general argues in the lawsuit that the ballot measure is preempted by Texas law, which criminalizes the possession and distribution of marijuana. Paxton also claims the Texas Constitution prohibits municipalities from adopting an ordinance that conflicts with laws enacted by the state legislature.
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Texas Attorney General Ken Paxton speaks outside the U.S. Supreme Court on November 01, 2021 in Washington, DC. (Drew Angerer/Getty Images)
“Cities cannot pick and choose which State laws they follow,” Paxton said in a statement. “The City of Dallas has no authority to override Texas drug laws or prohibit the police from enforcing them.”
Paxton called the ballot measure “a backdoor attempt to violate the Texas Constitution” and threatened to sue any other city that “tries to constrain police in this fashion.”
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A flower bud of marijuana. (AP Photo/Sakchai Lalit, File)
The lawsuit comes after interim Dallas Police Department Chief Michael Igo directed Dallas police officers not to enforce marijuana laws against those found to be in possession of less than 4 ounces.
Ground Game Texas, a progressive nonprofit group that campaigned in favor of the ballot measure, argued it would help “keep people out of jail for marijuana possession,” “reduce racially biased policing” and “save millions in public funding.”
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A mature marijuana plant begins to bloom under artificial lights at Loving Kindness Farms in Gardena, Calif., May 20, 2019. Paxton has sued the city of Dallas over a ballot measure that decriminalized possession of small amounts of marijuana. (AP Photo/Richard Vogel)
“It’s unfortunate but not surprising that Attorney General Ken Paxton has apparently chosen to waste everyone’s time and money by filing yet another baseless lawsuit against marijuana decriminalization,” said Catina Voellinger, executive director for Ground Game Texas.
“Judges in Travis and Hays counties have already dismissed identical lawsuits filed there. The Dallas Freedom Act was overwhelmingly approved by 67% of voters — this is democracy in action.”
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Since January 2024, Paxton has filed lawsuits against five Texas cities that decriminalized marijuana possession, arguing these policies promote crime, drug abuse and violence.
The Texas Longhorns are heading back to Austin with some early-season tournament hardware in hand.
Tre Johnson battled through another poor shooting night but closed the game out for Texas once again, scoring a game-high 17 points to lead the Longhorns to a 67-58 win over Saint Joseph’s at the Legends Classic championship round in Brooklyn Friday night.
Transfer guard Julian Larry sparked the Longhorns late, scoring all 12 of his points in the second half. Arthur Kaluma added 14 points, four rebounds and four assists while Kadin Shedrick had 10 points and six rebounds.
The Hawks were led by Rasheer Fleming, who stuffed the stat sheet with 16 points, 20 rebounds, three assists, two blocks and three steals. Xzayvier Brown added 15 points on 4 of 7 shooting.
The Longhorns jumped out to an 11-6 lead after seven early points from Kaluma. St. Joe’s started out cold from the field but controlled the game with hard-nosed defense and the occasional press while dominating the offensive glass. This was highlighted by a possession where the Hawks got four consecutive offensive rebounds but only scored one point as a result.
Johnson stayed aggressive on offense for Texas but was off on his shot and was impacted by the on-ball defense of St. Joe’s.
Mark, Pope and Johnson all hit a triple for Texas in about a two-minute span ahead of halftime to give the Longhorns their biggest lead at 32-26 but the Hawks responded with a free throw from Haskins 3-pointer from Brown before halftime to cut the lead to 32-30.
The defense from the Hawks ramped up even more, as the Longhorns were stuck in the mud on offense and had little to no ball movement. St. Joe’s was hardly much better, but its defense continued to set the tone and eventually swung the momentum.
Larry then hit back-to-back triples as the two teams traded buckets on five straight possessions. Consecutive dunks from Ajogbor and Fleming but the Hawks in front 50-46 with 8:25 to play, but Larry continued to take over. He hit 1,000 career points with a driving layup before finding Kaluma for a corner triple to put Texas back in front at 51-50.
It didn’t stop there for Larry, who found a cutting Shedrick for a dunk before diving on a loose ball down at the other end to secure possession for Texas, which had built a 55-52 lead with 3:13 left. The Longhorns used the momentum to put together an 8-0 run, which essentially sealed the win in a game where scoring felt hard to come by.
Johnson then closed the game out with six points in the final 4:11 of action, including a pullup jumper at the foul line to put Texas up 63-55 with 1:19 left.
Texas will host Delaware State on Nov. 29.
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