Thursday, April 14, 2016

What Greensboro News and Record's Allen Johnson and Doug Clark chose to ignore for Wall Street instead of North Carolina's employees

Ron Elmer proposed North Carolina's employees shouldn’t pay millions in fees
but instead convert the pension fund to an index fund, 
which would be run by a team of six employees in the treasurer’s office.

Doing so would save the state at least $100 million a year, he says.

"NYC Pension Weighs Liquidating $1.5 Billion Hedge Fund Portfolio

N.C. State professor of finance Richard Warr, 
who said Elmer could save the pension fund more than $500 million annually.

The State Employees Association of North Carolina, 
which has an obvious interest in the pension fund’s success, has endorsed Elmer.

New York City’s pension fund for civil employees is weighing exiting its $1.5 billion portfolio of hedge fund investments because of lagging performance, high fees and the riskiness of the asset class.

Allen Johnson and Doug Clark betrayed North Carolina's employees for Warren Buffett, 
by not advocating for reduced costs in North Carolina's pension fund
and Greensboro's 457 plan, and then Allen Johnson lied about it at Scuppernong Books

...“Hedge funds are charging exorbitant fees for high-risk and opaque investments” said New York City Public Advocate Tish James. ”Our public employees work hard for their money, and they deserve to know their investments are secure. We can and must invest responsibly and also honor our fiduciary responsibility.”

Warren Buffett's newspapers fucked North Carolina's employees
by not covering information which would save them money,
like not reporting on Clayton Homes for ripping off poor people

New York City may follow a September 2014 move by the California Public Employees’ Retirement System, the largest U.S. pension. Calpers divested its $4 billion portfolio saying the asset class was too expensive and complex."
Democrats for state treasurer: 29 percent for Dan Blue III, 15 percent for Ron Elmer and 52 percent undecided.

A News and Record search for Ron Elmer;

Allen Johnson and Doug Clark betrayed North Carolina's employees
for Warren Buffett

Sound Familiar?; Who do you think Greensboro's News and Record is going to endorse?

Associated Press misleads for Wall Street; "Correction: Primary-Council Of State story"; Don't expect the News and Record to tell anyone in print

Charlotte Observer; "Our choices for N.C. treasurer"; Where is Greensboro News and Record's endorsement for treasurer?

Look who's trying to buy some NC Treasurer candidate Dale Folwell? Robinson Bradshaw pay to play

John Hammer endorses Democrat Ron Elmer for North Carolina State Treasurer for proposing what Hartzman proposed for the City of Greensboro's retirement plan

Greensboro's News and Record represents the best interests of Wall Street
as opposed to "more than 900,000 North Carolina teachers, state employees, 
firefighters, police officers and others"]

The News and Record and other Warren Buffett owned news outlets
took down Ron Elmer for Wall Street profit
instead of more money in North Carolina employee pockets

Allen Johnson and Doug Clark maximized Warren Buffett's profits
at the expense of North Carolina employees, again