Friday, October 31, 2014

Bob Wineburg: UNCG, Do Something Bigger Altogether

Today the following letter was sent to UNCG Deans and Administrators by Bob Wineburg.

"Dear Deans and High Ranking UNCG Administrators:
Inline image 1

It sure would be heart warming to see you demonstrate some collective leadership and go to bat for this faculty, those fired and humiliated employees, and memory of some of the former academic leaders of our university: Those who had soul and chutzpah, especially Harriet Elliot.  Demonstrate to us that our day-to-day leadership can “do something bigger altogether.” The woman, at whose pleasure you serve, has “lost” the university, the Greensboro community, and perhaps her marbles.
I would hope, that despite your serving at the pleasure of this Chancellor, who has shown a huge dearth of eptness, that you would use your collective voice and urge the chief to come to her senses and simply do three things: Give those people their jobs back without sinking them and us deeper in the quicksand, send Paul Mason back to Corporate America, and muster up some sort of apology for dragging all of us, but particularly those decent human beings, through a skunk scented cow pasture of dishonesty. WHY did we have to go through this mess?
You know as well as the rest of us, that the Board of Trustees unofficially fired the Chancellor. Yet, she was allowed some dignity to “retire with a golden parachute.”  Linda gets to save some face, while our humiliated colleagues’ faces were plastered in the paper. And your chief held on vigorously to this queasy line: This was an egregious misuse of university resources that had a direct impact on these employees’ ability to perform their day jobs.
Every single one of us, in his or her sensible minds, knew that line was as quixotic as the chief's dreams of making us a Division I Basketball Powerhouse.
Has such frivolousness replaced Minerva?  Seriously?
Despite serving in your administrative roles, you are still one of us when you step down. But the faculty has, without you out front, faced the bully again and again, risking imagined and real retaliation. This time faculty,  did “something bigger altogether in public.”  You are faculty first, and sort of loaned executives second.  I pray that you weren’t insider bystanders getting better glimpses of what was truly happening than we got. Even if a glimmer into an answer to my prayers never comes to light, it sure would be nice for a dream to come true. Stand up to the Chancellor for the faculty, the community, and those loyal colleagues. 
Ask yourselves whether Harriet Elliot, the mother and soul of this university, would or would not speak out for the healing and repair of this once great institution.  It would be a great day for healing and repair, if you collectively signed a letter appearing in tomorrow’s News and Record calling for a restoration of balance at UNCG. Tell the Chancellor to (1) Hire those people back, (2) Fire Paul Mason (3) Apologize.  I would never ask anyone to do something bigger than I or other faculty would not do or haven't done, especially if it were truly bigger altogether.
Bob is right. Until proper amends are made the University of North Carolina at Greensboro and the city for which it was named cannot and will not mend. Both need one another to be whole. In the coming days and weeks this website and other news sources will begin exposing the underlying problems that brought about the entire fiasco in the first place. Considering what UNCG is about to face it does not need to still be dealing with this. Show good faith and do as Mr Wineburg suggests lest I start exposing more individuals.

How To Bring Greensboro Out Of Poverty: Part 10

Well it's been quite the week here at The story we first broke a month ago, UNCG Using Threats And Intimidation Against Employees has been confirmed as true by the Guilford County District Attorney, the Bunsis Report confirms Chancelor Linda Brady has lost control of UNCG spending and  Part 9 of our series How To Bring Greensboro Out Of Poverty
has proven the Greensboro City Council has no real interest in pursuing new economic development ideas.

It's all documented in the links and I have the e-mails to prove it.

You see, the Greensboro City Council was holding out for the rosy red news as was to be reported by the News & Record but what City Council wasn't counting on was Greensboro College School of Business Dean and economist William K. MacReynolds who said:

“The Greensboro-High Point metropolitan area is lagging behind employment growth in most areas of North Carolina,” said MacReynolds, founding dean of the college’s School of Business. “From September 2013, employment increased by only 0.2% compared with a statewide average growth of 2.2%.”

The state’s top two employment areas, the Charlotte and the Raleigh-Cary metropolitan areas, grew 2.6% and 3.2%, respectively.

“The employment numbers in Greensboro-High Point are troubling,” MacReynolds said. “Over the past year, the number of unemployed fell by 5,100. However, the number of jobs increased by only 2,100. The reason for this disparity is that more than 6,000 left the labor force altogether, having given up looking for productive work.”

As a matter of fact, Dean MacReynolds called it a "Wake up call."

Dean MacReynolds, a former  "...economist for the Federal Trade Commission, director of economic forecasting for the U.S. Chamber of Commerce, and a Blue Chip Economics forecaster..." seems to have a much better grasp of real world economics. Besides, he links to the BLS Documents to prove his points.

And in over a week of repeated e-mails no one from the Greensboro City Council, City Manager's Office or City Attourney's office has even bother to respond to my e-mails to even say to give them more time to look into my ideas. As a matter of fact: there has been zero response what-so-ever.

One can only conclude Council and City staff doesn't give a shit considering the size of our audience here at

And because of their inaction, great schools like UNCG, Greensboro College, NC A&T University (America's largest minority university) Bennett College, Guilford Technical Community College, the Joint School of Nanoscience and Nanoengineering and more will forever be known as places where students go to get an education then never return.

Why, because there's no freaking jobs here for people with advanced degrees. And there never will be as long as real estate development is seen as the primary means of economic development.

You see, real economies must be built from the ground up. It's true, my ideas for economic development won't provide as many high tech and advanced jobs as Greensboro needs but my ideas will provide the necessary capital to move us in that direction. And there's room for your ideas as well. My ideas won't provide jobs for artists and musicians but my ideas will provide jobs for people to buy art and music. The arts only thrive in good economic times, get it? Building empty industrial parks and megasites in a state that already has 18 empty megasites in a nation that already has 180 empty megasites is without a doubt the stupidest way to bring in new business one could ever dream up.

And the absurd idea that downtown restaurants, hotels and performing arts centers will save us? Not if we can't afford to go. The cart before the horse mentality has got to end.

So folks, that's why I'm asking you to read the entire series How To Bring Greensboro Out Of Poverty, add your thought and ideas, remember the plan isn't set in stone and needs help from great minds like the folks at our local universities. Greensboro has $272 Million Dollars with which to work with but politicians would prefer to retain control rather than do what is best for our community. If you want your children and grandchildren to remain in Greensboro you must fight now to give them something to stay here for. Otherwise the battles fought with the Paul Masons and Linda Bradys of the world are all for naught. After all, the entire UNCG3 thing started over the university's expansion into Glenwood and Brady's inability to control public opinion.

And Dear Readers, there's nothing in this for me personally, nothing in it for any heirs. My only child, a son named Jason died almost 2 years ago. I live day to day. I do this for you and your children so you and they don't have to live my hell.

Thursday, October 30, 2014

Jim Goodbody Is Paul Mason

A few days ago I published Jim Goodbody, Another Paul Mason Shill? Well thanks to some of our readers we've been able to learn a bit more about the mysterious Jim Goodbody.

Not only does Jim Goodbody's Facebook Profile include dubious information about where he worked. (The Boy Scout camp he claims to have worked at since 1969 did not yet exist in 1969 as it was built to replace Camp Wenasa in Browns Summit, NC when that property was sold to developers. As a matter of fact: land for the Woodfield Scout Preservation wasn't even donated until 1989.

Paul Mason was hired by UNCG Chancellor Linda Brady who was under intense pressure because of her efforts to expand UNCG into the Glenwood neighborhood. Mason started work on April 1, 2014 where he immediately locked himself inside his office where he started using his Jim Goodbody profile to run down discenting voices in online forums at least as early as May 4th if not earlier.

Using multiple names and fake identities in online discussions has long been considered standard operating procedure in the for-profit public relations industry in which Paul Mason was touted as having been so successful before being hired at UNCG. As you can see in the screen grab of Jim Goodbody's Facebook profile below his photograph has obviously been altered.

And this quote from his Facebook page dated May 29, 2013, the only post to be found on Jim Goodbody's page, gives us clue as to how his mind works:

 "§ 14‑122. Forgery of deeds, wills and certain other instruments.
If any person, of his own head and imagination, or by false conspiracy or fraud with others, shall wittingly and falsely forge and make, or shall cause or wittingly assent to the forging or making of, or shall show forth in evidence, knowing the same to be forged, any deed, lease or will, or any bond, writing obligatory, bill of exchange, promissory note, endorsement or assignment thereof; or any acquittance or receipt for money or goods; or any receipt or release for any bond, note, bill or any other security for the payment of money; or any order for the payment of money or delivery of goods, with intent, in any of said instances, to defraud any person or corporation, and thereof shall be duly convicted, the person so offending shall be punished as a Class H felon."

There remain to this day rumors that Paul Mason, aka Jim Goodbody, has previously forced workers out using the same tactics he unsuccessfully attempted to use against the UNCG3. That's right, the charges were dropped today paving the way for lawsuits, restitution and possible charges against Paul Mason.

 I'm sure investigators from the State Bureau of Investigation on Industrial Drive here in Greensboro will have no difficulty confirming this when they seize the computers used by Mr Mason at his office and elsewhere.

Update: Friday night, all Hallows Eve. As evidenced by the screen grab below taken this morning, Jim Goodbody, aka Paul Mason as been busy deleting his comments.  Not a very bright boy is he?

And to think, Linda Brady actually hired this guy to run a public relations department. Does UNCG actually pay Paul Mason to spend his days using comment threads on the Internet then going back to delete the evidence? It sure appears that way. Would that not be considered a theft of time?

Someone should report Paul Mason to the SBI or God forbid, Campus Police.

UNCG Bunsis Report

The UNCG Howard Bunsis Report just landed in my inbox late last night so I haven't had time to assess it but have been told there are several iffy things being pointed out by the Brady Adminstration so rather that wait for the team to do an anaylisis I thought I'd allow the public at large the chance to have a look.

Also, just so you know, I'm no longer the only writer here at EzGreensboro so please have a look around at what others are writing. You just might find something that relates to your neighborhood.

Regarding the Political Dupery and Nitwitery of ¼ Nonsense

“Community interest groups and businesses have donated more than $100,000 to a committee campaigning for a quarter-cent increase in the local sales tax rate.”

“The donations, as well as other endorsements, “signal that our business community knows how critically important public education is to economic development, how important it is to attracting jobs to Guilford County, and how important it is that we maintain a top-notch school system,” said Anita Bachmann, the committee’s campaign coordinator.” - Tax campaign draws $100,000, Greensboro News and Record, 10/29/2014


James and Jane Goodfellow, when interviewed about “government“, will on balance, tell the interviewer that government rips them off and politicians/bureaucrats are corrupt. One might say that the answer repeated over and over by James and Jane Goodfellow(s) is: The wisdom of crowds.

A problem arises, in that, the many and various James and Jane Goodfellow(s), the common sense observation that government rips them off and politicians/bureaucrats are corrupt, can’t quite articulate the “why”. Stated another way, common sense will get you through the day but common sense does not explain “why”.

One might want to consider a specific building block on the way to answering ”why”. One building block is that of special interest groups.

One can certainly paint special interest groups as “community interest groups” or “businesses” but the zebra is the zebra regardless of the color of the stripe. It is of no matter that a particular special interest group’s mantra is education, green energy, tax loop holes, infrastructure, tax abatements, economic incentives, etc. A special interest is a special interest and as such wants focused benefits.

Those focused benefits applied to the particular special interest comes at the price of the many. That would be you. The many (you), in fact fund the focused benefit for the use, enjoyment, deployment, etc. of the focused special interest.

Many times it is difficult to answer the “why” due to political slight of hand. How so? The special interest is merely collective self-interest. The mantra of the special interest is generally cloaked in some altruistic endeavor. That the altruistic endeavor will somehow and in some way benefit all. Problem is the special interest group is made up of self-interested people (a normal human condition). The special interest group would very much like one to think that a magical moment occurs where the characters making up the special interest step out of their private self-interested life and become altruistic when functioning within their role as a special interest. Nay, Nay. Self-interest remains and is not supplanted by the supposed altruism:

“[Peter] Stillman … points out that those who see “a strong central government or a strong ruler” as a solution implicitly assume that “the ruler will be a wise and ecologically aware altruist,” even though these same theorists presume that the users of CPRs [common-pool resources] will be myopic, self-interested, and ecologically unaware hedonists.” - Governing the Commons, Elinor Ostrom, page 218


Special interest groups, the very long list thereof, who indeed gain the funding of the many (you), have a surprise in store for their own rank and file. Once funding is procured, the supposed altruistic endeavor receives the least funding, the rank and file of the focused benefit receive the next least amount of funding, while the power purveyors of the special interest gain the most. Stated alternatively, the focused benefit once procured is further focused upon the power purveyors of the special interest.


[Paraphrasing] We would all like to see government spending go down as long as it is not the government spending that affects us. We would all like to see government deficits go down as long as increased taxes fall on someone else. Most people welcome more government spending on them, few welcome more taxes. - Money Mischief: Episodes in Monetary History - Milton Friedman




Wednesday, October 29, 2014

How To Get Public Information Releases From UNCG

Today I was asked how to get Public Information Releases (PIRTs) from the University of North Carolina at Greensboro. Not ever having done so myself I contacted one of our investigators and asked how it is done. Here's what I was told:

"Please let our readers know that a request for public records for University email is the same as any other public record request. Every email that is sent or received under must be retained and made available upon request. The UNCG servers keep back ups for five years.

PIRT requests should be very specific about what you are looking for (ex: all correspondence between 'x' and 'y' from 'date' to 'date'). You should also be aware that you will probably be charged a 'copying' fee which may include an hourly charge for the person making the copies.  University Counsel will delay provision of the documents for as long as they can. Learn persistence! They may claim that they cannot provide specific emails because they are part of an ongoing criminal matter or a personnel record. You should get this in writing.

I have attached the State and the UNCG policies. You should attend particularly to the state policies 132-6 (inspection and examination), 132-6.2 (provisions for copies), and 132-9 (Access). ( )

On a related note, as I predicted, many faculty and administrators are buying into the script the leadership wrote, that is, that this is a secondary employment issue. It is not. It is a hostile work environment issue that is centered on Human Resources and General Counsel.

I would love to see this conversation get back on track to the real problem. For several years, Human Resources has responded to claims of work force violence in two ways. One--tell the complainant that they do not have the right to make a formal complaint because they can't prove discrimination regarding a federally protected class (race, gender, sexual orientation, disability, or veteran status) motivated the hostile behavior. Two--investigate the complainant in order to dismiss them for cause, forcibly transfer, or lay-off. The correct course of action would be to formalize the complaint under the authority of the WorkForce Violence Policy and investigate the person initiating the obnoxious behavior. 

If anyone wants to do a public records search you should ask for the paper trail following the initiation of the complaint on behalf of the photographers to Human Resources regarding bullying, intimidation, harassment, and undermining to the WorkPlace Violence Response Team and their report to the WorkPlace Violence Management Team. And what you'll find is nothing because UNCG will not admit that they condone through willful indifference bullying  that is initiated by faculty and administrators toward SPA employees."


NC Guide To Open Government and Public Records

University Policy Manual, Guide To Public Records, Electronic Records Retention

UNCG Public Records Law

Hope that helps. Should the staff at UNCG fail to comply with your PIRT request I recommend you e-mail them this blog post and complain to the NC Department of Justice. It won't take but just a few complaints from prominent citizens with letters behind their names to get ol' Roy Cooper to launch a Grand Jury investigation.

Note: It was the stories of a hostile work environment at UNCG that prompted our team at to start investigating UNCG months before Paul Mason was hired. We broke the story of the UNCG3 as a means of shining a light on that hostile work environment. While I've nothing to lose personally our embedded investigator could lose everything if discovered. And it's not like our embedded investigator has to do this. Our investigator is in a position that is mostly shielded from the problems most UNCG employees face.

Don't give in now. Don't give up and don't stop spreading the word. This person has taken huge personal risk for you.

1/4 Cent for Schools Committee Filings story, correlations and thoughts

"Community interest groups and businesses have donated more than $100,000 to a committee campaigning for a quarter-cent increase in the local sales tax rate.

...Future boards of commissioners could opt to use the money raised for another purpose.

As the economy falters, 
the money will most likely be used to prop up Guilford County's falling tax revenues
to pay off existing debt.

...The Greensboro Realtors group also asked the state organization to donate to the sales-tax committee. The state association’s donation of $25,000 is the largest the committee received, according to the disclosure report.

Do the Realtor's associations prefer a regressive non-real estate related tax? 

...A sales tax increase is “a way to fund county services by masses instead of relying solely on property taxes for revenue,”...

...No group opposing the sales tax referendum has registered with the county Board of Elections.

...there’s no guarantee revenue from the tax increase would always go to local public schools.

Opponents also question whether Guilford County Schools is using public money to advocate rather than educate on the issue of a tax increase."
24 Hour Notice;

Art Winstead, Treasurer
Address of 1/4 Cent for Schools Committee; Where Art works
Davenport Marvin Joyce & Co., LLP
703 Green Valley Rd Suite 201,
Greensboro, NC 27408

Art Winstead was Mike Barber's last Treasurer, who worked for free, but got appears to have been paid via Barber's taxpayer funded First Tee.

Arthur Winstead Jr., Treasurer for Mike Barber's City Council Campaign, appears to have given $250 and didn't get paid, but charged First Tee a relatively higher $15,000

From Mike Barber's City Council Economic Interest Disclosure signed on February 24, 2014

Charitable Compensation and Mike Barber's First Tee of the Triad

This looks like why Mike Barber freaked out about naming salaries of non profits doing business with Greensboro.
1/4 Cent for Schools Committee Filings

Taxpayer funded Greensboro Partnership

Koury Corporation, who would most likely prefer a non-property tax that costs poor people more, rather than Koury Corporation.
'Regressive Tax'

A tax that takes a larger percentage from low-income people
than from high-income people.

A tax that takes a larger percentage of the income
of low-income people than of high-income people. hits lower-income individuals harder.

Sales taxes...are generally considered to be regressive
...because expenses for food, clothing and shelter
tend to make up a higher percentage
of a lower income consumer's overall budget.

...even though the tax may be uniform (such as 7% sales tax),
lower income consumers are more affected by it
because they are less able to afford it.

...a regressive tax imposes a greater burden (relative to resources)
on the poor than on the rich
— there is an inverse relationship between the tax rate
and the taxpayer's ability to pay
as measured by assets, consumption, or income.

Regressive taxes tend to reduce the tax incidence
of people with higher ability-to-pay,
as they shift the incidence disproportionately to those
with lower ability-to-pay.

'Regressive Tax'

If the tax passes and the economy tanks, 
poorer citizens in Guilford County will be paying for what wealthy landlords etc...
won't have to pay because it's a sales tax instead of a property tax.

How To Bring Greensboro Out Of Poverty: Part 9

Well the News & Record is once again writing about the drought that has befallen our area reminding me of the dam scam that brought us the Randelman Dam. Statements from the News & Record like:

"Meanwhile, Greensboro’s three water-supply lakes north of town are about 77 percent full, compared with 87 percent last year and 97 percent at this time in 2012 , said Steve Drew, the director of Greensboro’s water resources department.

“We would have to be at 61 percent available capacity to call for Stage 1 voluntary restrictions (on water use),” Drew said.

The city’s three lakes — Higgins, Brandt and Townsend — are 3 percent closer to full than they were during a similar dry period in 2011, Drew said."

would appear to give credence to EPA award winning, Greensboro Water Conservation Director Mike J Baron's claims that the previous water shortage was rigged by opening the gates and allowing water to flow downstream.

But even if none of what Mr Baron claims is true, making Greensboro more resistant to drought is yet another reason to take up the aquaponics I have suggested throughout this series, How To Bring Greensboro Out Of Poverty. You see, Aquaponics uses only about 10% of the water used by normal agriculture.

How is that possible? In Aquaponics the same water is used over and over again.

And while today's News & Record article Triad looking to boost manufacturing jobs talks about the dire need for education and training they leave out the part about how to get the manufacturing jobs here in the first place. 

You see, Greensboro is known around the nation as a great place to get a great education and leave.  Why, because there are no jobs here for highly skilled workers despite having the best colleges, universities and technical schools in the nation. As usual, the "leaders" and "experts" have no plan.

In Part 8 I posted an e-mail I sent to the Greensboro City Council, City Manager Jim Westmoreland, City Attorney Tom Carruthers and others in the hope they might be willing to discuss my ideas. I waited all weekend then followed up with a second e-mail:

"Hate To Be Pushy But

 I know you had the weekend off but I also know how you prefer to ignore me:

I expect a discussion."

 So do Mayor Vaughan, 8 members of City Council, the City Manager or City Attorney bother to even reply to my e-mail? Of course they didn't because they're all wrapped up in their own little worlds and none of them give a damn about economic development for Greensboro.  Since they won't listen I'll explain to you how it works.

In Part 8 I referred to NC GS 159-30. Investment of Idle Funds.

Using all or part of the $272 Million Dollars the City of Greensboro currently has invested in its "rainy day fund" the City could fund a lot of new and existing businesses. The problem is, NC GS 159-30 forbids direct investments into businesses. As a matter of fact: the only legal investment Greensboro can do with its excess funds is to place them in an interest bearing bank account or mutual fund.

But nowhere in NC GS 159-30 or any other law does it say that the mutual fund can't be managed by a local bank (not a local branch of a nationwide bank) and nowhere in any law does it say that mutual fund cannot be restricted as to where that money is invested.

 That's right, folks, nowhere. As a matter of fact, when GS 159-30 was first written all investments had to be within North Carolina as North Carolina did not, in those days, allow out of state banking institutions to do business in North Carolina. And North Carolina's economy was at its peak.  

So what I'm talking about is issuing a Request For Proposals from local banks to administer a mutual fund for all or part of Greensboro's $272 Million Dollar "rainy day fund" with certain restrictions on how the banks could invest the money.

And if that $272 Million Dollars were restricted to local businesses that meet the terms laid out in Part 1 you might find a lot more companies willing to meet said terms. 

 Of course it might not be possible to invest 100% of the money locally and still keep the account safe. That would have to be worked out. But it would be understood that 100% local investment is the ultimate goal of the program and if Bank A can't do it then perhaps Bank B should get a try. Remember: this same said account lost $1 Million Dollars last year and no one seems to know where it went.

By the way, is Wells Fargo still handling the City of Greensboro's money?

Sadly, no one from the City of Greensboro was interested in economic development so ideas like the Greensboro Car located on 46 acres of industrial zoned property at 115 Ward Road adjacent to the railroad tracks in East Greensboro and listed by former Mayor Robbie Perkins' NAI Piedmont will never see fruition. How do you like that, the Greensboro City Council knocked Robbie Perkins out of a commission.

 I used to go hunting on that piece of property when I was a kid. The economy was good then as it was driven by manufacturing instead of trying to drive economic development by building empty industrial parks.

How many other ideas will never come to Greensboro because our leaders don't give a damn about economic development? How long will Greensboro remain the second hungriest city in America?  How long will we lead the State of North Carolina in unemployment? When will poverty rates fall below 21% instead of hovering above it? How many more empty industrial parks and megasites will be built with taxpayers' money?

Joel Leonard is right. The people with the skills to do these things are rapidly disappearing from the workforce. The average age of a tool and die maker in the United States is said to be 65 years old. Who is going to fix it when it breaks? If Greensboro doesn't act now to take an active hand in bringing back manufacturing jobs instead of continuing to drive our economy by the long failed strategy of real estate development we are eternally doomed.

And remember: the Greensboro City Council chose not to discuss economic development despite my repeated attempts. 

Will the City Council reply now? Or will they confirm through their silence they really don't give a damn? I'll e-mail them a link to this post to find out.

 Update: How serious is this really? Germany is offering free college tuition to American students. It's that fucking serious! 

Please continue reading Part 10

Tuesday, October 28, 2014

Jim Goodbody: Another Paul Mason Shill?

Since taking down the previous Paul Mason shills on I've noticed a new commenter appear in the threads claiming to have all sorts of previously unpublished information concerning the firing of the UNCG3 and assistant vice chancelor Paul Mason.

He calls himself Jim Goodbody (facebook profile) claims to be a graduate of the University of Virginia, UNCG and Grimsley High School.

He claims to have worked for Woodfield Scout Preservation in Asheboro, NC. which is owned by the Old North State Council located at 1405 Westover Terrace here in Greensboro. I was unable to find any references to Mr Goodbody having ever worked for the Boy Scouts of America or the Old North State Council even though his Facebook Profile indicates he was hired in 1969.

Perhaps someone can clear that up?

Jim Goodbody's Facebook profile also indicates that he is currently an employee of the Virginia Department of Conservation and Recreation but when I used the Employee Directory Search at the
Virginia Department of Conservation and Recreation website I was unable to locate even one single employee named Goodbody. That's right, not even one, not a Jim, James or anyone else.

Perhaps someone can clear that up too?

Perhaps someone can also address the fact that those who claim to be in the know concerning Paul Mason's innocence all see to be non existent? 

And why is if, if Linda Brady and Paul Mason are telling the truth, do they feel the need for online shills?

And Jim, if you really are Jim and not Paul Mason, Facebook tracks your IP address and gladly turns it over to the SBI to use in their investigation along with the screen grabs. You can run but you can't hide.

Monday, October 27, 2014

"$30 Billion Unaccounted for in North Carolina State Pension Plan"

"The State Employees Association of North Carolina and Benchmark Financial Services announced today the filing of a complaint with the U.S. Securities and Exchange Commission’s Office of the Whistleblower after a forensic investigation found $30 billion (35 percent) unaccounted for in North Carolina’s Teachers’ and State Employees’ Retirement System (TSERS).

...SEANC and Benchmark released a forensic report detailing a number of potential violations of state and federal law, as well as other concerns regarding the management of the $87 billion pension fund by State Treasurer Janet Cowell.

...The nation’s seventh largest public pension has no audited financials. An audit of TSERS by State Auditor Beth Wood, which would improve oversight and management of pension investments, reveal deficiencies (including fraud and other malfeasance), and produce savings, is decades overdue...

...the Treasurer’s office unable to account for $30 billion, hundreds of millions of dollars in fees paid to money managers not previously reported to the public or the N.C. General Assembly, and what appear to be several violations of state and federal securities law by the Treasurer’s office.

The most egregious of these problems, of course, is the Treasurer’s inability to account for $30 billion of the $87 billion pension fund.

“Nobody has any idea where that $30 billion has gone. It’s all in secret accounts,” Siedle said.

...“This report shows the dangers of the sole fiduciary governance model for the state pension plan and the need for reform,” Cope said. “Not only can State Treasurer Janet Cowell not account for $30 billion, she is refusing to disclose hundreds of millions in fees, as required by law, and her high-risk investment experiments are hurting North Carolina taxpayers, as well as employees and retirees.

SEANC is calling on the General Assembly to take up legislation to reform this system. SEANC also is calling for a full audit and an SEC investigation into Cowell’s management of this $87 billion fund.”

...In an unprecedented decision, Cowell has entered into agreements with a number of Wall Street money managers to keep secret from all stakeholders, including the General Assembly, where $30 billion (35 percent) of pension assets are invested.

...Total Fees to Wall Street Skyrocket to $1 Billion: Benchmark estimates total fees paid to Wall Street money managers have risen 1,000 percent to approximately $1 billion — at least half of which ($500 million) have not been properly reported by Cowell to the General Assembly and the public.

...North Carolina law mandates full disclosure of all direct and indirect investment management and placement agent fees in the Treasurer’s Government Operations reports to the General Assembly.

Cowell has failed to make these disclosures.


...Eliminate the Flawed Sole Fiduciary Governance Structure: There is broad national consensus that the sole fiduciary governance structure for a state pension makes no sense. The current structure of the state treasurer as the state pension’s sole fiduciary should be replaced with fully transparent board with members from the General Assembly, investment experts, state employees and state retirees.

...TSERS local investments through private securities firms and in private corporations based in North Carolina are rife with opportunities for political influence-peddling and dubious economic benefit.

Further investigation is warranted."