California Offers First Bonds to Individuals To Fund Stem Cell Research
The California state treasury is finally offering up $250 million in bonds after being bogged down with lawsuits since voters approved the stem cell funding measure Proposition 71 in 2004. Individuals, rather than institutional investors, will have first dibs.
Usually, bonds are offered to larger, sophisticated investors because their value is more difficult to track than stocks. But since the sale will raise money for the California Institute for Regenerative Medicine, which is mandated by Proposition 71 to spend $3 billion on stem cell research over the next decade, the state treasury is counting on individuals who are passionate about stem cell research, and possibly less concerned about profit they'll make from their investment, to shell out.
"There probably is a large group of people in California who are philosophically committed to this," Lockyestate treatsurer Bill Lockyer told Reuters.
Individuals can place orders starting October 3, one day before everyone else.
Hats off to California, although NJ democrats pat themselves on their backs for doing the research the federal government has restrictions on, they still funded 28 adult stem cell projects and only 5 involving esc, and mind you in a state program put into effect to predominantly fund esc which is on hold, by the Bush Administration against popular demand. But, help is on the way in New Jersey. NJ state senator Ellen Karcher strong on anti-corruption has sent a letter to NJ Governor Corzine:
September 20, 2007
Honorable Jon S. Corzine
Office of the Governor
P.O. Box 001
Trenton, N.J. 08625
Dear Governor Corzine:
As a firm supporter of stem cell research, I commend you for your efforts in bringing the state of New Jersey to the forefront of stem cell research. I believe that it is imperative that the state of New Jersey funds the type of stem cell research that the federal government has chosen to ignore.
I am writing to encourage you to explore the promotion of embryonic stem cell research. If New Jersey wants to become a leader in stem cell research, it must also be a leader in promoting embryonic stem cell research. It was my understanding that New Jersey would primarily be promoting embryonic stem cell research. Yet, out of the seventeen award recipients of 2006, only two are truly focused on the promotion of embryonic stem cell research.
I appreciate your consideration in this matter. I would ask that you contact me at 732-462-8883 or at SenKarcher@njleg.
Sincerely,
Ellen Karcher
Senator, 12th Legislative District
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It's about time.
Glad Cali is taking the initiative once again, but sad at the same time that the federal govmt. hasn't done so yet.
UCLA's medical school also just received a large amount of money for similar research.