Jack Guerrero demands honest contracts, balanced budgets, and reasonable compensation
Jack Guerrero discusses national health policy - on nationally-syndicated political talk show, En La Lucha
Jack Guerrero defends constituent interests, and rejects unbalanced budgets and excess taxation (Spanish language)
Jack Guerrero exposes mismanagement at City Hall
Jack Guerrero reflects on immigration topics
"Ciudades Santuario del sur de California en alerta"
Jack Guerrero featured in video of GROW Elect PAC
Jack Guerrero defends the U.S. Constitution, and the right of the People to petition their government for redress of grievances
Jack Guerrero stands with Cudahy residents to denounce City Council crack-down on free speech
"Denuncian a Cudahy de violar el derecho de expresion de sus residentes"
Jack Guerrero denounces Cudahy City Council violation of First Amendment rights
"Denuncian a Cudahy por acallar a sus residentes"
Jack Guerrero demands accountability from local elementary school
"Parent's campaign leads to Reforms at Cudahy elementary school"
Jack Guerrero discusses state of California's Latino Legislative Caucus
Jack Guerrero's referendum on TERM LIMITS, passes with overwhelming support in Cudahy (85% approval)
Cudahy Councilman Jack Guerrero leads successful Term Limits effort
Jack Guerrero sends Christmas greeting to Cudahy constituents
Jack Guerrero addresses the Republican Party of Los Angeles County
GROW Elect PAC endorses Jack Guerrero
5 Questions: Jack Guerrero, Candidate for the 63rd Assembly District
April 12, 2012 Lynwood Patch
Jack Guerrero, an accountant and corporate executive, is the only republican candidate for the 63rd assembly district, which includes South Gate and Lynwood. The candidate answered five questions, which included his ideas for sovling the problem of financing education and his views on immigration.
Jack M. Guerrero Answers Questions
May 17, 2012 League of Women Voters of California Education Fund
The questions were prepared by the League of Women Voters of California Education Fund and asked of all candidates for this office.
State GOP Endorses Candidates
March 13, 2012 Press-Telegram Long Beach
The California Republican Party this week endorsed Cudahy certified public accountant and corporate executive Jack Guerrero.
Republican Candidates Win Area Assembly Races
June 7, 2012 Los Angeles Wave
In the 63rd Assembly District, Democrat Anthony Rendon of Lakewood will face Republican Jack Guerrero of Cudahy.
Jack is unafraid to challenge the status quo. As Mayor of his hometown city, Jack worked with the California State Controller to expose millions of dollars in wasteful and unlawful spending. As a former pension auditor and one-time university lecturer in statistics, Jack understands the severity of the state’s unfunded pension liability which at nearly $500 billion, threatens the long-term financial stability of the state! Jack will EXPOSE this mismanagement by reckless politicians. Jack will safeguard state assets and advocate for policies that place citizens FIRST, including lower taxes, smaller government, and a prosperous California economy.
Jack is the son of hard-working Mexican immigrant parents -- farmworkers and later, factory workers who settled in Los Angeles. Jack was raised in a tough neighborhood in southeast Los Angeles County, surrounded by poverty, gangs, and decrepit public schools. As a young boy, Jack was determined to escape poverty, obtain a quality university education, and seek a better life for himself and his family. At the age of 15, Jack enrolled at university to supplement his high school education, and went on to graduate from Stanford and Harvard University. Only in our country is Jack's story even possible.
Jack is a proud American patriot, forever grateful to this country for the educational opportunities conferred on him, and dedicated to expanding similar opportunities for others. Jack serves on numerous Boards for public agencies and non-profit organizations, and is active in scholarship and university recruitment efforts in underprivileged communities.
- Mayor/ Council Member, City of Cudahy, CA (Los Angeles County)
- Vice President in the Corporate Treasury division of the U.S. subsidiary of large, global banking institution
- Certified Public Accountant (CPA)
- Investment Banker (series 79 and series 63, by Financial Industry Regulatory Authority)
- Professional work experience with Fortune 500 companies as auditor, consultant, and M&A technical advisor (including Wells Fargo Bank, Credit Suisse Group, Microsoft Corporation, Barclays Global Investors, American Honda Finance Corporation, among others)
- Corporate Development Manager with the American Express Company in New York and London, where he worked on various transactions involving corporate divestitures, acquisitions, and joint ventures
- Mergers & Acquisitions Advisor with Ernst & Young LLP in San Francisco, where he managed financial due diligence engagements for private equity firms and corporate clients
- CPA with Big Four public accounting firms KPMG LLP and Ernst & Young LLP
- University lecturer in economics and statistics
- Auditor of local municipalities and agencies of the federal government
- MBA internship and field study research, United States Department of the Treasury (Washington, D.C.)
- International work experience in United Kingdom, Switzerland, Spain, India, and Ecuador
BA in Economics, Stanford Univesity - where Mr. Guerrero's professors included Dr. Condoleezza Rice, former U.S. Secretary of State; Dr. Michael Boskin, former Chair of Economic Advisors for President George H.W. Bush; and Dr. John Cogan, former Director of the U.S. Office of Management and Budget. Mr. Guerrero was also a regular political columnist with the Stanford Review newspaper, and a nationally-ranked competitive debator with the American Parliamentary Debate Association (the same debating circuit that produced Ted Cruz, U.S. Senate Candidate from Texas).
MBA, Harvard University - where Mr. Guerrero's professors included Dr. Robert Merton, Nobel Laureate in Economics, and field study advisor Dr. Robert Kaplan, founder of the "Balanced Scorecard" concept used widely by corporate organizations. While at Harvard, Mr. Guerrero's curriculum was heavily focused on finance, management, and business law.
AFFILIATIONS (for identification purposes only):
GREAT WORKS OF INFLUENCE:
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STOP CORRUPTION IN LOCAL GOVERNMENT
I was elected with overwhelming public support in 2013, following one of the highest profile corruption scandals in the history of the region. It was my duty at the time to restore public trust from the ground up, and usher a new culture of honest and responsible government. Immediately upon installation, I was appointed Mayor of my City, and used my professional background in finance and economics (including my status as a certified public accountant) to initiate a forensic examination of the City’s internal financial and administrative controls. My preliminary findings were alarming, and I subsequently demanded a consequential, authoritative audit from the California State Controller and other government agencies. The state audit I commissioned provided the credible bill of health I needed to launch the most sweeping management overhaul in our City’s history and the most extensive government reform measures in the entire region. I am proud of this early chapter in my tenure, and the application of my technical, forensic background to profoundly alter the culture and internal control environment of my City. I continue to serve as the City’s watchdog, and I wish to bring the same discipline to state government.
I support the following local reforms:
· Mandatory bidding for all public contracts
· Open and public discussion on all contract renewals (no automatic behind-the-scene evergreen extensions!)
· Periodic rotation of City auditors
· Real-time public disclosure of all campaign contributions (including same-day disclosure at council meetings whenever related contracts are up for consideration)
· Caps on executive compensation and bloated benefits
· Timely approval of balanced budgets, in advance of the applicable fiscal year
· Immediate public disclosure of all auditor communications involving internal controls
· Mandatory remediation of internal control deficiencies identified in audit reports
· Reasonable term limits for local and appointed officials
· Vote recusal from all conflicted members of the city council
· Criminal prosecution of all local corruption
PENSION REFORM AND FISCAL DISCIPLINE
Our state’s unfunded liability for combined pension funds (CalPERS, CalSTRS, and UC), together with promised healthcare for retirees, approximates $1 trillion of debt, according to the most recent estimate of the Stanford University Economics Research Institute. This is a staggering amount, which is at least six-times the size of the State’s entire General Fund revenue intake. As an economist, university lecturer in statistics, and one-time pension auditor, I can confirm (with mathematical certainty) that the system will be unavailable to deliver on promised obligations, and will increasingly encroach on city, county, and state budgets each year of the foreseeable future – threatening every aspect of public services. Last year alone, $20 billion in pension payments were disbursed to 600,000 retirees, with nearly 25,000 individuals earning pensions of over $100,000 – a 63% increase since 2012. In some cases, “public service” retirees were paid in excess of a quarter-million dollars.
We need bold, responsible leadership NOW to reform a broken pension system. I demand that California pension funds use realistically achievable discount rates immediately (closer to the risk-free rate of return), instead of the generous and unrealistically achievable 7.0%-7.5% assumption used by sneaky politicians to deliberately cloud the full extent of these obligations. In addition to immediate transparency, I support migration to defined contribution plans (or transitional hybrid plans) for new employees, higher mandated funding levels for all funds, and re-evaluation of the so-called “California Rule” to enable good-faith renegotiation of fair and economically sustainable pension programs for existing participants. We must also end abusive spiking schemes and double-dipping scenarios, which inflate these obligations and further exacerbate their unfunded status.
Our educational system requires immediate overhaul. At one point, California’s educational system was the best in the nation. Today, it ranks near the bottom – 46 out of 50 states in terms of student achievement, and nearly half of our children cannot read proficiently at grade level. The achievement gap is the widest on record, with children from underprivileged communities falling further and further behind – notwithstanding rising educational outlays in California, and per-pupil spending above the national average. We NEED accountability now, to demand that local school districts allocate greater shares of their budgets to the classroom, instead of bloated administrator salaries, excessive pensions for district executives, and central office overhead – which now, collectively, account for a majority of the education budget.
I support school choice, school competition, and student vouchers so that parents can send their children to better performing schools – including those reserved for the children of Sacramento’s political elite. I support overhaul of arcane tenure rules, so that teachers are evaluated (and rewarded) based on student performance and achievement in the classroom. I support return of traditional academic disciplines and curricula focused on college preparation and the high-skilled jobs of the future. I am NOT beholden to union bosses, political elites, or the special interest industrial complex which works diligently to perpetuate the decrepit status quo. I will champion the civil rights of children and their parents.
Every major survey of business climate consistently ranks California dead last (50 out of 50 states) in terms of business-friendly environment, with over 13,000 businesses leaving the state of California in the last 10 years, including major employers with ties to our Senatorial district. This dire predicament for companies, employees, and working families, is the direct result of over-taxation, over-regulation, and arcane licensing processes that are prone to abuse, favoritism, and in the worst cases, corruption. We need to reduce excessive taxation across the board; streamline the convoluted business permit and licensing process (without special treatment for campaign donors or the expensive lobbyists who represent them); and provide greater efficiencies in regulatory monitoring and compliance.
I join mainstream economists across the political spectrum who recognize that excessive taxation is hurtful not only to businesses and private sector jobs growth, but to the state's ability to achieve sustainable tax revenue -- due largely to the deleterious disincentives that excessive taxation has on production. This concept can be illustrated through the Laffer Curve, which was first described by economist Arthur Laffer of President Reagan's Council of Economic Advisors, and which has since received broad academic recognition even from left-wing economists like Christina Romer of President Obama's Council of Economic Advisors. Basically, excessive business taxation (like the California status quo) crosses a critical inflection point on the Laffer Curve, beyond which higher tax rates actually produce declining tax revenue to the state. Every member of the State Legislature should be mindful of this inter-play between tax rates and tax revenue.