Greensboro 457 employees can't sue ICMA or the City; "Duke University faces lawsuit over 'unreasonable and excessive' retirement fees"

"Duke University faces allegations that it allowed employees to be charged “unreasonable and excessive fees.

A class-action lawsuit was filed on behalf of more than 20,000 Duke employees, alleging that Duke failed in its fiduciary duties to monitor excessive recordkeeping and administrative fees and to remove imprudent investment options.

Duke University let Wall Street skim profits from low level employees

...“We believe that Duke University failed to abide by its fiduciary duties to protect its employees’ and retirees’ retirement savings," Schlichter said in a statement. “Universities do not have high priced retail mutual funds in their multi-billion dollar endowments, yet they have them in their employees’ retirement plans, resulting in the employees paying excessive fees and diminishing their retirement savings.”

City of Greensboro only different

Schlichter argues that Duke, and other universities, failed in its duties..., causing employees to pay millions in unwarranted fees.

Employees invested in North Carolina state's 401k and pension plans

can sue, as they are being abused by NC Treasurer Janet Cowell

The lawsuit was filed in the U.S. District Court in the Middle District of North Carolina."

http://www.bizjournals.com/triad/news/2016/08/11/duke-university-faces-lawsuit-over-unreasonable.html?ana=RSS%26s%3Darticle_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_triad+%28Triad+Business+Journal%29

When presented with the opportunity to do right by City of Greensboro's employees, Tony Wilkins, Marikay Abuzuaiter, Nancy Vaughan, Mike Barber, Yvonne Johnson, Jamal Fox and Sharon Hightower supported cronies connected to the financial industry, Jim Westmoreland, Mary Vigue, Rick Lusk and Connie Hammond rather than more than 2,800 employees who are still getting skimmed off of by ICMA-RC, the administrator for the City's 457 retirement plan.

Now Mary Vigue is in charge of a legal Ponzi scheme called Say Yes to Education and Say Yes Guilford whose business model skims profits for administrators and vendors meant for college scholarships for Guilford County students with monies donated by local foundations, managed for a profit by the Community Foundation of High Point, and the Community Foundation of Greensboro, who's Walker Sanders lied to get additional taxpayer funding for Greensboro's STPAC with the help of Matt Brown, City Council and City staff, including Rick Lusk.

These folks let the banking and investment system steal from you.

And they know it.

And they didn't bother to tell you, as it would upset their benefactors.

Rick knew better and went along to keep his job as far as I can tell.

He must throw up a little every time he has to go along with the facade.

The News and Record didn't report how mimicking the federal government's Thrift Savings Plan could save Greensboro's employees more than $500,000 per year, to preserve Warren Buffett's profitability at the expense of their readers.

http://greensboroperformingarts.blogspot.com/2016/04/recent-jeff-gauger-and-news-and-record.html

The City of Greensboro shafted their own employees; "401(k) Fees, Already Low, Are Heading Lower"

http://greensboroperformingarts.blogspot.com/2016/05/the-city-of-greensboro-shafted-their.html

This is what winning reads like for those who oppose the status quo; City of Greensboro ICMA-RC 457 retirement plan edition

http://greensboroperformingarts.blogspot.com/2015/10/this-is-what-winning-reads-like-for.html

Say Yes to Education Red Flag; Mary Vigue; She is about to be in charge of more than $25 million for a 'non-profit' after shafting City of Greensboro employees out of investment fee cuts

http://greensboroperformingarts.blogspot.com/2015/10/say-yes-to-education-red-flag-mary.html

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

The News and Record and other Warren Buffett owned news outlets
are going to try to take down Ron Elmers for Wall Street profit
instead of more money in North Carolina employee pockets

http://greensboroperformingarts.blogspot.com/2016/03/associated-press-misleads-for-wall.html

http://www.nakedcapitalism.com/2015/12/pensions-investment-editorial-savages-trustees-for-failing-to-perform-fiduciary-duty-over-private-equity-fees.html

From today's letter to the editor, by mayoral candidate Devin King;

"The city has not responded to a 29-question inquiry

concerning George Hartzman’s proposal for the city’s 457 retirement plan,

which remains unanswered even after anonymous city employees 

sent a letter to the city 

and Councilman Tony Wilkins’ inquiries on July 1. 

Hartzman contends the plan 

could save Greensboro’s employees more than $500,000 per year, 

and the city won’t confirm or deny the validity of his arithmetic."

How Wall Street grabs $17 billion from investors’ portfolios every year

"...In its permissiveness toward non-fiduciary financial advisers, the current regulatory environment reflects its imbalance. Funded by the very corporations it’s charged with overseeing, the Financial Industry Regulatory Authority supervises the 90% or so of financial advisers that sell what’s best for them instead of investors...

ICMA-RC is not considered a fiduciary

for Greensboro's employees,

letting City Management including Jim Westmoreland, 

Mary Vigue, members of ICMA, 

mislead and overcharge City participants

with the active help of ICMA member Jamal Fox

and the rest of City Council.

...[The Financial Industry should] once and for all prohibit the practice of revenue sharing, in which mutual fund companies pay 401(k) [and 457] plan administrators or sponsors [ICMA-RC] to put their funds on retirement plan menus. Stark conflicts of interest like revenue sharing are not acceptable, especially when they prey on a particularly vulnerable group like retirement savers....

ICMA-RC doesn't act in the best interests

of the City of Greensboro's employees, 

but the best interests of ICMA-RC

with the help of Jim Westmoreland, 

Mary Vigue, Connie Hammond, Rick Lusk, Larry Davis

and Jamal Fox. 

Bobby Monks is the former Chairman of Institutional Shareholder Services. His book with Justin Jaffe and Bree LaCasse, “Uninvested: How Wall Street Hijacks Your Money — and How to Fight Back,” was published by Penguin Random House in August."

http://www.marketwatch.com/story/how-wall-street-grabs-17-billion-from-investors-portfolios-every-year-2015-09-14?dist=beforebell
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A couple financial experts on the City of Greensboro's ICMA-RC 457 plan

The fine print on "VT", an acronym for Vantage Trust, from Greensboro's ICMA-RC plan;

"Section 401 or 457 plans invest in these “underlying” funds through the funds of the VantageTrust (“VT Funds”).  Reference to such underlying mutual fund ticker symbols or other non-performance data by VT Funds is for reference only and NOT reflective of the returns of the corresponding VT Funds [due to VT layered on fees].

Because of revenue sharing agreements 

The revenue amounts listed for VT Vantagepoint Funds and the VT PLUS Fund include all compensation paid by the fund to ICMA-RC and/or its affiliates.

City of Greensboro executive management 

knows they are letting ICMA-RC shaft their own employees

and didn't/won't do anything about it.

The Vantagepoint Funds are distributed by ICMA-RC Services LLC, a wholly owned broker-dealer subsidiary of ICMA-RC.

Which is a conflict of interest

fully supported via inaction by Jim Westmoreland, 

Mary Vigue, Connie Hammond, Rick Lusk, Larry Davis

and Jamal Fox. 

ICMA-RC or its affiliates receive payments [kickbacks to ICMA-RC via VT] from third-party mutual funds that underlie certain VantageTrust Funds that may be available for investment through your plan. These payments are for services rendered by ICMA-RC or its affiliates to plans and participants, and are in the form of 12b-1 fees, service fees, compensation for sub-accounting and other services provided by ICMA-RC or its affiliates."

Otherwise known as revenue sharing agreements

which pick the pockets of Greensboro's employees

with the help of Jim Westmoreland, Mary Vigue, Connie Hammond, 

Rick Lusk, Larry Davis, Jamal Fox and the rest of City Council

who not only don't mind ICMA-RC skimming from City employees,

but have actively worked to assure the status quo remains the same. 

ICMA-RC, located in the same Washington D.C. building as ICMA, was created by the International City/County Management Association (ICMA) in 1972.  "its 10-member board includes four current or retired government officials and the executive director of the ICMA (as of 9/22/2010), who also is a retired government official. The ICMA-RC pays the ICMA a licensing fee...", like Nationwide pays the National Association of Counties for the same thing only different.

According to ICMA-RC's 2012 IRS form 990, Robert O'neal, ICMA's Executive Director, serves as a paid director of ICMA-RC.

San Antonio’s Assistant City Manager and ICMA member Frances Gonzalez serves on ICMA-RC's board. San Antonio has $254,377,728 of City employee funds with ICMA-RC.

Like Greensboro's Mary Vigue.

Decatur, Georgia’s City Manager and ICMA member Peggy Merriss serves on ICMA-RC's board as Decatur offers an overpriced ICMA-RC 457 retirement plan.

Like Greensboro's Jim Westmoreland.

"Civil Response in writing please" ICMA members Jim Westmoreland and Mary Vigue trying to play Greensboro mayoral candidate Devin King for a fool, and losing

http://greensboroperformingarts.blogspot.com/2015/09/civil-response-in-writing-please-icma.html

An email from Greensboro City Council mayoral candidate Devin King to the City's Jim Westmoreland, David Parrish, Chris Wilson, Wesley Reid and Mary Vigue

http://greensboroperformingarts.blogspot.com/2015/09/an-email-from-greensboro-city-council.html

Some recent recent economic posts and other locally business related links, as we descend into financial instability and recession/depression

http://greensboroperformingarts.blogspot.com/2015/08/some-recent-recent-economic-posts-and.html

A July 1, 2015 open letter to Greensboro City Councilman Tony Wilkins from some anonymous City employees invested in ICMA-RC's 457 Retirement Plan, who fear retaliation, without a response from the City

http://greensboroperformingarts.blogspot.com/2015/07/an-open-letter-to-greensboro-city.html

Zack Matheny misled City of Greensboro employees and Greensboro taxpayers on the plan at a recent City Council Meeting.

http://greensboroperformingarts.blogspot.com/2015/04/maybe-zack-matheny-was-lying.html

Both City of Greensboro Manager Jim Westmorland, Assistant Manager Mary Vigue and Human Resources Director Connie Hammond violated the City's Code of Ethics and misled the public and their own employees concerning the retirement plan.

http://greensboroperformingarts.blogspot.com/2014/11/george-hartzman-believes-city-of.html

Hartzman was told by Joe Killian in front of Susan Ladd there was to be a story on the 457 plan, and their wasn't, as Warren Buffett profits from overcharging retirement plan participants

http://greensboroperformingarts.blogspot.com/2015/05/subject-re-i-was-told-by-joe-killian-in.html
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How Greensboro's City Council shafted the City's employees with Zack Matheny's help

http://greensboroperformingarts.blogspot.com/2015/04/how-greensboros-city-council-shafted.html

George Hartzman's ICMA-RC 457 retirement plan presentation, data source and Jodi Riddleberger News and Record article

http://greensboroperformingarts.blogspot.com/2015/02/george-hartzmans-icma-rc-457-retirement.html

From a currently employed ICMA-RC employee on not getting enough extra revenue producing "Managed Accounts"

http://greensboroperformingarts.blogspot.com/2015/01/from-currently-employed-icma-rc.html

Emails between City of Greensboro, Charlotte and some Winston Salem employees and their 457 Retirement Plan Provider

http://greensboroperformingarts.blogspot.com/2015/01/emails-between-city-of-greensboro.html

Please help save $35,122,520 for City of Greensboro employees

http://greensboroperformingarts.blogspot.com/2015/01/please-help-save-35122520-for-city-of.html

City of Greensboro Manager Jim Westmoreland Lying to Tony Wilkins and City Council

http://greensboroperformingarts.blogspot.com/2014/12/city-of-greensboro-manager-jim.html

George Hartzman, presented to Guilford County's School Board, 10/23/2014

http://greensboroperformingarts.blogspot.com/2014/10/george-hartzman-presented-to-guilford.html

This is what winning reads like for those who oppose the status quo; City of Greensboro ICMA-RC 457 retirement plan edition

http://greensboroperformingarts.blogspot.com/2015/10/this-is-what-winning-reads-like-for.html

George Hartzman's ICMA-RC 457 retirement plan presentation, data source and Jodi Riddleberger News and Record article

http://greensboroperformingarts.blogspot.com/2015/02/george-hartzmans-icma-rc-457-retirement.html

Hartzman's Retirement Plan Whistle; City of Greensboro Edition, located on the City's Server

http://greensboroperformingarts.blogspot.com/2015/06/hartzmans-retirement-plan-whistle-city.html

"TriMet's 401(k)-type plan on the screen behind him and said that, outside the
federal government's Thrift Savings Plan, this was "the best I've ever seen."

http://hartzman.blogspot.com/2015/01/trimets-401k-type-plan-on-screenbehind.html

"Administrative fees and the tyranny of compounding costs."

http://hartzman.blogspot.com/2015/01/administrative-fees-and-tyranny-of.html

"Active Funds vs Index Funds 2014: Managed Mutual Funds Underperform
Passive Funds, Continuing Losing Streak"

http://hartzman.blogspot.com/2015/01/active-funds-vs-index-funds-2014.html

From Buck Consultant's ICMA-RC 457 Plan Administration RFP for Contra Costa County

http://hartzman.blogspot.com/2015/01/from-buck-consultants-icma-rc-457-
plan.html

ICMA-RC Response to the City of Anaheim California's 457 RFP

http://hartzman.blogspot.com/2015/01/from-icma-rc-response-to-city-of.html

Deloitte Defined Contribution / 401(k) Fee Study

http://hartzman.blogspot.com/2015/02/deloitte-defined-contribution-401kfee.html

How Greensboro, North Carolina Executive Management and ICMA-RC lobbyists reacted to Hartzman's Retirement Plan Whistle

http://hartzman.blogspot.com/2014/12/how-jim-westmoreland-mary-vigueand.html

A list of familiar names who are going to vote for a cheating politician, and a criminal violator of our national security, Hillary Clinton

Don Vaughan Delegate Hillary Clinton

Greensboro Mayor Nancy Vaughan endorsed Clinton

Janet Cowell, Natl. Assn. of Dem. State Treasurers

Janet Cowell stole from North Carolina employees for her Wall Street donors,

which continues in the present going into the future, 

and Dan Blue will continue the practice

Alma Adams, Congressperson

Cecil Brockman Delegate Hillary Clinton

Pricey Harrison Delegate Hillary Clinton

Elaine Marshall Delegate Hillary Clinton

Christopher Sgro Delegate Hillary Clinton

http://www.greensboro.com/news/government/elections/conventions/north-carolina-s-delegates-to-democratic-convention/article_2a0438c8-ee8f-5a94-9548-4ebf13301672.html
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Greensboro Mayor Nancy Vaughan endorses [unindicted criminal and confirmed liar] Hillary Clinton

http://greensboroperformingarts.blogspot.com/2016/07/greensboro-mayor-nancy-vaughan-endorses.html

Greensboro Mayor Nancy Vaughan endorsed this; "Hillary Clinton exchanged nearly two-dozen top secret emails from her private server with three senior aides"

http://greensboroperformingarts.blogspot.com/2016/07/greensboro-mayor-nancy-vaughan-endorsed.html

"Hillary has made an uncharacteristically dangerous political choice in Kaine"

http://greensboroperformingarts.blogspot.com/2016/07/hillary-has-made-uncharacteristically.html

Rising parasitic drug prices are masking the economic slowdown

http://greensboroperformingarts.blogspot.com/2016/07/rising-parasitic-drug-prices-are.html

A balanced opinion piece ripping both Clinton and Trump

http://greensboroperformingarts.blogspot.com/2016/07/a-balanced-opinion-piece-ripping-both.html

Fec on Trump and the GOP

http://greensboroperformingarts.blogspot.com/2016/07/fec-on-trump-and-gop.html

"Loretta Lynch Refuses to Say Whether It’s Illegal to Lie Under Oath" by Alex Griswold | 2:54 pm, July 12th, 2016

http://greensboroperformingarts.blogspot.com/2016/07/loretta-lynch-refuses-to-say-whether.html

Now Nancy and Don, after profiting from Greensboro's taxpayers for years

are all in on supporting another crony

Hillary Clinton illegally destroyed public records, which means she committed a crime

http://greensboroperformingarts.blogspot.com/2016/07/hillary-clinton-illegally-destroyed.html

For Don and Nancy, it's okay 

Donald Trump, Hillary Clinton, Elizabeth Warren and Bernie Sanders are all in on supporting rigged financial markets

http://greensboroperformingarts.blogspot.com/2016/07/donald-trump-hillary-clinton-elizabeth.html

Nancy successfully fucked thousands of Greensboro's employees

by not lowering costs in their retirement plans, with help from Tony Wilkins etc... 

"Propaganda, indoctrination, a captive press, and widespread obliviousness and passivity will only take the incompetent and corrupt governing class so far."

http://greensboroperformingarts.blogspot.com/2016/07/propaganda-indoctrination-captive-press.html

Remember the day when Bernie Sanders sold out to Wall Street and a felon

http://greensboroperformingarts.blogspot.com/2016/07/remember-day-when-bernie-sanders-sold.html

"Hillary Clinton lied under oath during a committee hearing"; What happens if you lie to Congress"

http://greensboroperformingarts.blogspot.com/2016/07/hillary-clinton-lied-under-oath-during.html

A comment at Susan Ladd's Hillary Clinton / Barack Obama rally which will probably be deleted

http://greensboroperformingarts.blogspot.com/2016/07/a-comment-at-susan-ladds-hillary.html

Hillary Clinton should not be President of the United States of America. She should be arrested.

http://greensboroperformingarts.blogspot.com/2016/05/hillary-clinton-should-not-be-president.html

The Full List of Companies & Organizations That Bought Hillary Clinton From 2013-2015

http://greensboroperformingarts.blogspot.com/2016/05/the-full-list-of-companies.html

More on Clinton emails

http://greensboroperformingarts.blogspot.com/2016/06/more-on-clinton-emails.html

"Hillary Clinton [should] be Indicted on Federal Racketeering Charges"

http://greensboroperformingarts.blogspot.com/2016/06/hillary-clinton-should-be-indicted-on.html

"Bottom line: Mrs. Clinton violated the Federal Records Act."

http://greensboroperformingarts.blogspot.com/2016/05/bottom-line-mrs-clinton-violated.html

JPM CEO Jamie Dimon Securities Fraud and Insider Trading condoned by Hillary Clinton and Elizabeth Warren

http://greensboroperformingarts.blogspot.com/2016/06/jpm-ceo-jamie-dimon-securities-fraud.html

Elizabeth Warren and Hillary Clinton condoned Bank of America's Brian Moynihan Insider Trading and Securities Fraud

http://greensboroperformingarts.blogspot.com/2016/06/elizabeth-warren-and-hillary-clinton.html

#HillaryClinton + Criminal Acts + Obama and Warren Endorsements = #BananaRepublic

http://greensboroperformingarts.blogspot.com/2016/06/hillaryclinton-criminal-acts-obama-and.html

Hartzman blackballed

Triad business interests and North Carolina state government officials have issued verbal warnings to reporters, commentators and news media personalities whose public remarks on the economy are out of step with federal, state and local government’s upbeat statements, according to government officials and economic commentators with knowledge of the matter.

George Hartzman, who has been outspoken about rising corporate and government debt, the real estate market and crony capitalism in Greensboro, North Carolina received a warning in recent weeks, these people said.  It was at least his second. The first came from the Securities Exchange Commission, and the later one, these people said, from North Carolina's Treasurer's office, which instructed him to avoid making “overly bearish” remarks about the economy, particularly investment fees in the state's retirement plans and commercial real estate.

At least one local non-profit foundation was told by City of Greensboro and State officials not to cast doubt on a planned government program to build a megasite in Randolph County involving the state owned North Carolina Railroad, which is refusing public information requests.

Hartzman has told investors that “a lot of official data aren’t reliable” and the economy still faces “big problems,” according to people who attended the closed-door event.

Words of those remarks crackled across social media.

Hartzman and representatives at his firm didn’t return requests for comment, as his name is virtually banned from appearing within local papers and other news outlets.

While restrictions on economic related media have always been tight, they are becoming tighter, with a growing list of publications receiving pressure to produce calming narratives including Greensboro's News and Record, the Triad Business Journal and the Rhino Times.

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

"RALEIGH, N.C. (AP) — In a story Feb. 27 about primary elections for statewide Council of State offices, The Associated Press reported erroneously that the political arm of the State Employees Association of North Carolina endorsed Dan Blue III in the Democratic Party contest for state treasurer. 

The group instead endorsed his opponent, Ron Elmer."

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"

"TREASURER

The treasurer's primary job is overseeing and investing public employee pension funds for more than 900,000 North Carolina teachers, state employees, firefighters, police officers and others valued at about $87 billion. He or she also controls the health insurance program for state employees, teachers and retirees.

The News and Record and other Warren Buffett owned news outlets

are going to try to take down Ron Elmers for Wall Street profit

instead of more money in North Carolina employee pockets

Republican Dale Folwell faces no primary opposition. He'll face the winner between bond lawyer Dan Blue III of Raleigh or Ron Elmer of Cary..."

Dan Blue is on bond lawyer.

How clueless is anyone who endorses a lobbyist for NC Treasurer?

Most of the state's sold out press like Greensboro's News and Record

http://www.greensboro.com/news/north_carolina_ap/correction-primary-council-of-state-story/article_f84e8876-86c7-5cf7-84e1-9341778e2a4c.html
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Charlotte Observer; "Our choices for N.C. treasurer"; Where is Greensboro News and Record's endorsement for treasurer?


http://greensboroperformingarts.blogspot.com/2016/03/charlotte-observer-our-choices-for-nc.html
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What do all these fine folks want to get out of Dan Blue being North Carolina's Treasurer?

http://greensboroperformingarts.blogspot.com/2016/03/what-do-all-these-fine-folks-want-to.html

NC Treasurer Janet Cowell Contributions; "Law Firms Seek Cut of State Pension Litigation" and Pay to Play

http://hartzman.blogspot.com/2014/10/nc-treasurer-janet-cowell-contributions.html

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

http://greensboroperformingarts.blogspot.com/2016/03/sound-familiar-who-do-you-think.html
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Copy the Federal Thrift Savings Plan, 
the same proposal from Greensboro's 2013 mayoral race
which the News and Record and the Triad Business Journal didn't report on;

https://web.archive.org/web/20160225170617/http://www.elmerfortreasurer.com/

Comments at Greensboro's City Council Meeting on NC State's 401(k) plan and ICMA's 457 plan

...In 2010, Galliard Capital Management, a subsidiary of Wells Fargo, started managing portions of North Carolina's 401(k) and 457 retirement plan's Stable Value Funds, and then hired Wells Fargo to do the same, which appears to mask underlying costs taken from state employees accounts and funneled to Galliard's parent company.

The State Employees Association found that North Carolina's pension doesn't disclose underlying hedge “funds of funds” fees.

In 2013, North Carolina State 401(k) and 457 target date funds, which are also like stable value or fund of funds, replaced two index funds with higher cost alternatives. The fees for the international allocation more than doubled and small cap fund costs about quadrupled.

http://hartzman.blogspot.com/2014/10/comments-at-greensboros-city-council.html

Jeff Gauger, Stephen Doyle, Allen Johnson and Doug Clark 

are going to maximize Warren Buffett's profits

at the expense of North Carolina employees

again

Galliard, owned by Wells Fargo, North Carolina Stable Value Fund Transition Update; May 16, 2013

http://hartzman.blogspot.com/2014/10/galliard-owned-by-wells-fargo-north.html

Ron Elmer would take profit away from Wells Fargo, 

which Warren Buffett owns more than 9% of 

How to save $35,122,520 for Greensboro, North Carolina's employees invested in ICMA-RC's 457 retirement plan

http://hartzman.blogspot.com/2015/01/how-to-save-35122520-for-greensboro.html

Please support Charlotte, North Carolina in saving $22,048,780.40 for their employees invested in ICMA-RC's 457 retirement plan

http://hartzman.blogspot.com/2015/01/please-support-charlotte-north-carolina.html

North Carolina State Budget Act, Chapter 143C

http://hartzman.blogspot.com/2014/10/north-carolina-state-budget-act-chapter.html

North Carolina State 401(k) replaced index funds with higher cost actively managed accounts in 2013

http://hartzman.blogspot.com/2014/10/north-carolina-state-401k-replaced.html

A Few Observations on Share Classes and Wells Fargo Stable Return Fund

http://hartzman.blogspot.com/2014/06/a-couple-of-observations-on-share.html

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

"Over the past 15 years, the North Carolina state pension’s funding ratio has deteriorated – falling from 112.8% to 94.8%.  The major reasons for the decline—excessive undisclosed fees and wildly speculative hedge and private equity investing..."

Greensboro's News and Record is directly responsible 

for North Carolina and the City of Greensboro's employees 

paying more for pension and retirement investments than necessary,

as they have known for years and did nothing

Thankfully, for whatever reasons, current North Carolina Treasurer Janet Cowell—having exponentially increased the fees paid to her pals on Wall Street—has decided not to seek reelection.

Can’t imagine where she’ll surface next.

...Mr. Elmer, a CPA, has committed not only to publishing financial statements for the North Carolina state pension fund for the first time in 15 years, but also an independent audit of the pension for the first time – ever.

Jeff Gauger has direct personal knowledge

of Elmer's strategy, as I told him on multiples of occasions

and he didn't let Warren Buffett's newspaper report the story

Elmer has pledged not to take campaign contributions from Wall Street but his goals are bigger than winning the Treasurer’s race without Wall Street’s money.  He plans to end pay-to-play permanently in the Treasurer’s office by firing as many of the external managers as possible, bringing North Carolina’s money home, and managing assets in-house using an indexing strategy.  Finally, Elmer plans to replace the widely-criticized “sole-trustee” power of the State Treasurer with a Board of Trustee structure filled with relevant stakeholders – not Wall Streeters.

Joe Killian and Susan Ladd know exactly what could have been reported

and wasn't,

and then Joe's wife became a financial industry lobbyist

Thus, the next Treasurer won’t be able to dole out million dollar investment contracts to campaign contributors without the full consent of the Board of Trustees who would have to vote to move investments from in-house management back to the outhouse.

Jon Hardister barely lifted a finger,

and then failed to act in the best interests of North Carolina employees

by not following through

Elmer has managed state pension investments for Georgia and California, but more importantly, Elmer has previously managed a $2 billion stock index fund for the North Carolina pension fund.  He has quite literally “done this before” and just wants to “do it across town in the Treasurer’s office and save North Carolina hundreds of millions of dollars annually.”

http://www.forbes.com/sites/edwardsiedle/2016/03/01/finally-north-carolina-has-a-good-choice-for-state-treasurer/#70d0935a79cb
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From; NC District 59 Representative Jon Hardister To; NC Treasurer's Office "pertaining to 401(k) and 457 plans"

http://hartzman.blogspot.com/2014/10/from-nc-district-59-representative-jon.html

Tony Wilkins, Nancy Vaughan, Nancy Hoffmann, Sharon Hightower, 

Yvonne Johnson, Mike Barber, MariKay Abuzuaiter and Jamal Fox

with Jim Westmoreland, Donnie Turlington and Mary Vigue's help 

betrayed those they are supposed to represent

On North Carolina State's 401(k) and 457 "GoalMaker" Target Date Funds

http://hartzman.blogspot.com/2014/10/on-north-carolina-states-401k-and-457.html

North Carolina State 401(k) replaced index funds with higher cost actively managed accounts in 2013

http://hartzman.blogspot.com/2014/10/north-carolina-state-401k-replaced.html

A Few Observations on Share Classes and Wells Fargo Stable Return Fund

http://hartzman.blogspot.com/2014/06/a-couple-of-observations-on-share.html

A Few Observations on Share Classes and Wells Fargo Stable Return Fund

http://hartzman.blogspot.com/2014/06/a-couple-of-observations-on-share.html

"Secrecy in Pensions Triggers Legislative Brawl in North Carolina"

http://hartzman.blogspot.com/2014/10/secrecy-in-pensions-triggers.html

NC State Treasurer Janet Cowell's answer to the following question in 2012

http://hartzman.blogspot.com/2014/10/nc-state-treasurer-janet-cowells-answer.html

"North Carolina Treasurer [Richard Moore] calls Wells’ Wachovia deal ‘highway robbery’

http://hartzman.blogspot.com/2014/10/north-carolina-treasurer-richard-moore.html

NC Treasurer Janet Cowell Contributions; "Law Firms Seek Cut of State Pension Litigation" and Pay to Play

http://hartzman.blogspot.com/2014/10/nc-treasurer-janet-cowell-contributions.html

Crow Holdings Capital Partners LLC and Pay to Play with NC Treasurer Janet Cowell

http://greensboroperformingarts.blogspot.com/2014/10/crow-holdings-capital-partners-llc-and.html

"NC Pension Accused of Pay-to-Play Violations"

http://hartzman.blogspot.com/2014/10/nc-pension-accused-of-pay-to-play.html

And so it goes with the Federal Reserve and Roy Cooper and Janet Cowell again

http://greensboroperformingarts.blogspot.com/2016/01/and-so-it-goes-with-federal-reserve-and.html

The Goodmons, WRAL, Janet Cowell and Roy Cooper, overcharging North Carolina State employees in retirement plans and the Wachovia, Wells Fargo merger

http://greensboroperformingarts.blogspot.com/2016/01/the-goodmons-wral-janet-cowell-and-roy.html

Galliard, owned by Wells Fargo, North Carolina Stable Value Fund Transition Update; May 16, 2013

http://hartzman.blogspot.com/2014/10/galliard-owned-by-wells-fargo-north.html

Why North Carolina Treasurer Janet Cowell isn't running for reelection, and how the City of Greensboro's retirement plan committee betrayed their co-workers

http://greensboroperformingarts.blogspot.com/2015/12/why-north-carolina-treasurer-janet.html

Public Information Request for the State of North Carolina's Treasurer

http://greensboroperformingarts.blogspot.com/2014/10/public-information-request-for-state-of.html

The Goodmons, WRAL, Janet Cowell and Roy Cooper, overcharging North Carolina State employees in retirement plans and the Wachovia, Wells Fargo merger

"Since we last spoke almost three months ago about concerns regarding campaign contributions by WRAL’s owner to one of Governor McCrory’s potential Democrat opponents for governor, Attorney General Roy Cooper, WRAL has continually failed to disclose these campaign contributions and financial ties to third party political groups in its reporting on the 2016 race for governor.

Roy Cooper, Janet Cowell, Kay Hagan and Brad Miller

know Wells Fargo and Wachovia attorneys lied 

to a North Carolina Business Court

within 2008 litigation, and didn't do anything about it.

...These donations and subsequent failure to disclose them to viewers in your reporting raise serious questions and concerns about WRAL’s ability to be fair, transparent and impartial in its coverage.

Mark Binker, WRAL and the News and Record

didn't investigate or run the story

...If WRAL believes – through its reporting and the stories it chooses to carry – that a businessman who has a history of donating to Republican candidates and groups can influence the reporting of a news organization he owns, it is reasonable to assume that your owner’s campaign donations and financial ties to secretive third party political groups that routinely attack the governor can also influence the reporting you produce at WRAL.

...We believe that given the history of your station’s political contributions and financial connections to third party political groups you routinely source, it is reasonable to request that going forward, you disclose WRAL’s donations to Attorney General Cooper and connections to secretive third party groups in all of your reporting on the governor, the administration as well as the 2016 race for governor as a whole. I’m afraid that failure to do so will call into question the very integrity of WRAL as a news organization, do irreparable damage to the journalism profession and further erode the public’s remaining trust in the media.

Ricky Diaz
Deputy Campaign Manager for Communications
The Pat McCrory Committee"

http://carolinaplotthound.com/ via http://ladyliberty1885.com/2016/01/09/anonymous-little-birdie-dumps-a-wralgoodmon-gem-in-my-inbox-ncpol/
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James Goodmon, President & CEO, Capitol Broadcasting Company
Owner of WRAL

Barbara Goodmon, President, AJ Fletcher Foundation (Retired)

Michael Goodmon, Vice President of Real Estate, Capitol Broadcasting

SINCE 2008 CYCLE:

James F. Goodmon 10/9/07 $4,000.00 COWELL FOR TREASURER

James F. Goodmon 9/13/08 $1,000.00 COWELL FOR TREASURER

James F. Goodmon 4/6/11 $1,000.00 COWELL FOR TREASURER

James Goodmon 12/30/11 $100.00 COWELL FOR TREASURER

James Goodmon 12/30/11 $1,000.00 COWELL FOR TREASURER

BARBARA L. GOODMON 12/23/13 $4,000.00 COOPER FOR NORTH CAROLINA

JAMES F. GOODMON SR. 12/23/13 $4,000.00 COOPER FOR NORTH CAROLINA

MICHAEL J. GOODMON 11/22/11 $250.00 COWELL FOR TREASURER

MICHAEL J. GOODMON 12/30/11 $750.00 COWELL FOR TREASURER

MICHAEL GOODMON 4/3/15 $2,500.00 COOPER FOR NORTH CAROLINA

MICHAEL GOODMON 6/25/15 $2,600.00 COOPER FOR NORTH CAROLINA

Roy Cooper and Janet Cowell

were in position to uncover securities fraud

insider trading and perjury to North Carolina's business court

during and after the Wachovia Wells Fargo merger

and didn't

FEDERAL REPORTS (VIA CENTER FOR RESPONSIVE POLITICS)

GOODMON, BARBARA 2/3/08 2,300.00 Hagan, Kay R (D)

GOODMON, BARBARA 2/3/08 2,300.00 Hagan, Kay R (D)

GOODMON, JAMES 2/3/08 2,300.00 Hagan, Kay R (D)

GOODMON, JAMES 2/3/08 2,300.00 Hagan, Kay R (D)

GOODMON, JAMES F 9/30/09 1,000.00 Miller, Brad (D)

GOODMON, JAMES F 8/21/10 1,000.00 Miller, Brad (D)

Kay Hagan and Brad Miller

were informed of Wells Fargo and Wachovia securities fraud

insider trading and financial plan fraud

didn't do anything about it,

and North Carolina's news industry didn't report it

at the expense of Wachovia shareholders

GOODMON, JAMES F 6/13/12 2,500.00 Hagan, Kay R (D)

GOODMON, BARBARA L 3/5/13 $2,600 Hagan, Kay R (D)

GOODMON, JAMES F 3/5/13 $2,500 Hagan, Kay R (D)

GOODMON, BARBARA L 4/17/14 $2,600 Hagan, Kay R (D)

http://www.carolinaplotthound.com/Jim-Barbara-Goodmon-donations/
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On November 4, 2005, Robinson Bradshaw attorney Robert Fuller contributed $1,000 to North Carolina Attorney General Roy Cooper who chose not to publicly pursue Wells Fargo merger related issues.  Thirteen other Robinson Bradshaw employees contributed to Cooper in 2008.  In 2008, thirty one political contributions were received from Robinson Bradshaw employees by Richard Moore's successor, North Carolina Treasurer Janet Cowell, who chose not to publicly pursue Wells Fargo merger related issues.  As Robinson Bradshaw was or became external council for the North Carolina Treasurer, fifty contributions from the firm were conveyed to Cowell in 2012.
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NC Treasurer Janet Cowell "Investors as contributors"

http://greensboroperformingarts.blogspot.com/2014/10/nc-treasurer-janet-cowell-investors-as.html

Why North Carolina Treasurer Janet Cowell isn't running for reelection, and how the City of Greensboro's retirement plan committee betrayed their co-workers

http://greensboroperformingarts.blogspot.com/2015/12/why-north-carolina-treasurer-janet.html

North Carolina, Greensboro and Guilford County, only different = Why NC Treasurer Janet Cowell isn't seeking reelection

http://greensboroperformingarts.blogspot.com/2015/11/north-carolina-greensboro-and-guilford.html

Same "Pay to Play" Campaign Contributions to NC Treasurer Janet Cowell as Chicago's Rahm Emanuel

http://greensboroperformingarts.blogspot.com/2014/11/same-pay-to-play-campaign-contributions.html

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

http://greensboroperformingarts.blogspot.com/2014/10/30-billion-unaccounted-for-in-north.html

Crow Holdings Capital Partners LLC and Pay to Play with NC Treasurer Janet Cowell

http://greensboroperformingarts.blogspot.com/2014/10/crow-holdings-capital-partners-llc-and.html

Public Information Request for the State of North Carolina's Treasurer

http://greensboroperformingarts.blogspot.com/2014/10/public-information-request-for-state-of.html

NC State Treasurer Janet Cowell's answer to the following question in 2012

http://hartzman.blogspot.com/2014/10/nc-state-treasurer-janet-cowells-answer.html

Galliard, owned by Wells Fargo, North Carolina Stable Value Fund Transition Update; May 16, 2013

http://hartzman.blogspot.com/2014/10/galliard-owned-by-wells-fargo-north.html

From; NC District 59 Representative Jon Hardister To; NC Treasurer's Office "pertaining to 401(k) and 457 plans"

http://hartzman.blogspot.com/2014/10/from-nc-district-59-representative-jon.html

On North Carolina State's 401(k) and 457 "GoalMaker" Target Date Funds

http://hartzman.blogspot.com/2014/10/on-north-carolina-states-401k-and-457.html

"NC Pension Accused of Pay-to-Play Violations"

http://hartzman.blogspot.com/2014/10/nc-pension-accused-of-pay-to-play.html

"North Carolina Treasurer [Richard Moore] calls Wells’ Wachovia deal ‘highway robbery’

http://hartzman.blogspot.com/2014/10/north-carolina-treasurer-richard-moore.html

"Secrecy in Pensions Triggers Legislative Brawl in North Carolina"

http://hartzman.blogspot.com/2014/10/secrecy-in-pensions-triggers.html

NC Treasurer Janet Cowell Contributions; "Law Firms Seek Cut of State Pension Litigation" and Pay to Play

http://hartzman.blogspot.com/2014/10/nc-treasurer-janet-cowell-contributions.html

"NC Pension Accused of Pay-to-Play Violations"

http://hartzman.blogspot.com/2014/10/nc-pension-accused-of-pay-to-play.html

It appears that the N.C. Office of the Commissioner of Banks (NCCOB) oversees the following banks who used Federal Reserve Secret Liquidity Lifelines

http://hartzman.blogspot.com/2012/10/it-appears-that-nc-office-of.html

Brad Miller - House Financial Services committee - 1989 - 2012 Total Receipts: $6,011,785

http://hartzman.blogspot.com/2012/08/brad-miller-house-financial-services.html

Information recieved by US Congressman Brad Miller on George Hartzman's Wells Fargo Whistleblower case

http://hartzman.blogspot.com/2012/10/information-recieved-by-us-congressman.html

Part of a Facebook message conversation with North Carolina Congressman Brad Miller on George Hartzman's Wells Fargo Whistleblower case

http://hartzman.blogspot.com/2012/10/part-of-facebook-message-converstation.html

Information recieved by U.S. House Committee on Financial Services member, US Congressman Brad Miller, who also serves on the Congressional Financial Markets Caucus, on George Hartzman's Wells Fargo Whistleblower case

http://hartzman.blogspot.com/2012/10/information-recieved-by-us-house.html

"Complaint to a Member of Congress"; ABA..., and Facebook conversations with then US Congressman Brad Miller

http://hartzman.blogspot.com/2013/04/complaint-to-member-of-congress-aba-and.html

Why North Carolina Treasurer Janet Cowell isn't running for reelection, and how the City of Greensboro's retirement plan committee betrayed their co-workers

http://www.nakedcapitalism.com/2015/12/pensions-investment-editorial-savages-trustees-for-failing-to-perform-fiduciary-duty-over-private-equity-fees.html
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When presented with the opportunity to do right by City of Greensboro's employees, Tony Wilkins, Marikay Abuzuaiter, Nancy Vaughan, Mike Barber, Yvonne Johnson, Jamal Fox and Sharon Hightower supported cronies connected to the financial industry, Jim Westmoreland, Mary Vigue, Rick Lusk and Connie Hammond rather than more than 2,800 employees who are still getting skimmed off of by ICMA-RC, the administrator for the City's 457 retirement plan.

Same thing only different.

When presented with the opportunity to report to the public how the financial industry rips off local investors and retirement plan participants, the News and Record's Joe Killian, Susan Ladd, Stephen Doyle, Jeff Gauger, Margaret Moffet among others including the Rhino Times John Hammer and the Triad Business Journal's Mark Sutter didn't lift a finger for their readers against the parasitic interests who prey upon their readers.

These folks let the banking and investment system steal from you.

And they know it.

And they didn't bother to tell you, as it would upset their benefactors.

Now Mary Vigue is in charge of a legal Ponzi scheme called Say Yes to Education and Say Yes Guilford whose business model skims profits for administrators and vendors meant for college scholarships for Guilford County students with monies donated by local foundations, managed for a profit by the Community Foundation of High Point, and the Community Foundation of Greensboro, who's Walker Sanders lied to get additional taxpayer funding for Greensboro's STPAC with the help of Matt Brown, City Council and City staff, including Rick Lusk.

Rick knew better and went along to keep his job as far as I can tell.

He must throw up a little every time he has to go along with the facade.

North Carolina, Greensboro and Guilford County, only different = Why NC Treasurer Janet Cowell isn't seeking reelection

"[Retirement System] may lower its return target; taxpayers may have to contribute more

Experts have warned for years that the state's largest public pension plan has overestimated how much its investments will earn, leaving taxpayers to pay billions of dollars more than expected.

Now the board of the California Public Employees' Retirement System is reconsidering.  As soon as Wednesday, the fund's board could approve a plan that would slowly reduce to 6.5% the current 7.5% it says it expects to earn on its investments.

North Carolina Teachers, 

State Employees and Local Government; 7.25% Unrealistic 'Expectation'

http://www.nasra.org/files/Issue%20Briefs/NASRAInvReturnAssumptBrief.pdf

For taxpayers, that seemingly small change is significant.

Consider the average California Highway Patrol officer who now earns $105,000. Taxpayers currently contribute $47,000 a year for that officer's pension.

If calculated using an expected investment return of 6.5% instead, according to CalPERS documents, the taxpayer contribution would be $68,000 — an increase of more than 40%.

North Carolina Teachers, 

State Employees and Local Government; 7.25% Unrealistic 'Expectation'

http://www.nasra.org/files/Issue%20Briefs/NASRAInvReturnAssumptBrief.pdf

"It has understated pension debt dramatically," said Joe Nation, a professor at Stanford's Institute for Economic Policy Research...

"They've been able to convince a lot of people things are OK when they aren't."

Many experts believe that even the 6.5% estimate is too optimistic.

The average corporate pension plan now uses a rate of 4% to determine how much money needs to be contributed

...by overestimating expected investment returns, CalPERS and other pension funds have hidden the true cost of public worker retirements.

Most of what local government, school and state employees

have been told by the News and Record about the state's pension plan

has been a lie, and they won't say they are sorry,

because their excuse is they didn't know

as they are mostly financially illiterate 

and stenographers for socialist/fascist fallacies 

regurgitated by 'friendly' political allies
who profit from the contributions of 'supporters'
who profit from overcharging North Carolina's pension system
just like the 'folks' who run Warren Buffett's financial businesses do.

...Currently CalPERS says it is short about $117 billion for pensions already owed to government employees. That debt was calculated by assuming it would earn an average of 7.5% on its investments for decades into the future.

That hole would deepen more than 50% to $178 billion if the rate of 6.5% was used instead...

What would the shortfall be for North Carolina?

Most would think our press would ask, 

but they don't, and most likely won't untill it's too late

or the New York Times reports it

and the top execs working for Warren Buffett wax poetic
as his banks make money from overcharged North Carolina employees
via the Stable Value Fund in Janet Cowell's pension fund

...California cities have been forced to cut services ranging from police patrols to library hours to cover fast-rising payments to CalPERS. Skyrocketing retirement costs were at least partly to blame for the bankruptcy filings of three California cities in recent years, including Stockton and San Bernardino.

..."This is going to be pretty tough for a lot of cities," said Rudy Fischer, a council member in Pacific Grove, where pension costs are expected to soon consume as much as 30% of the general fund — up from 20% today. "We aren't able to do the sidewalk repairs and fix the street lights as much as we want to."

If anyone reading this thinks Tony Wilkins will rise to the occasion, 

they would likely be incorrect

as Tony played for the wrong team against City of Greensboro employees

along with Nancy Vaughan, Marikay Abuzuaiter, Mike Barber, 

Jamal Fox, Nancy Hoffmann, Sharon Hightower and Yvonne Johnson 

relative to the City's 457 retirement plan fees

for Jim Westmoreland and Mary Vigue

the exaggerated expected investment returns have allowed governments to promise workers pensions at levels that aren't sustainable.

"The public pension system model is all about pushing costs to the future," Nation said. "No one has been paying attention. Now it's caught up with them."

http://www.latimes.com/business/la-fi-calpers-investment-rate-20151118-story.html.
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Same "Pay to Play" Campaign Contributions to NC Treasurer Janet Cowell as Chicago's Rahm Emanuel

http://greensboroperformingarts.blogspot.com/2014/11/same-pay-to-play-campaign-contributions.html

The News and Record didn't report any of this 

and will most likely not do so, 

as either they don't understand the issue enough,

or they just plain old sold out

to being no more than a propaganda outlet

not unlike Triad Business Journal

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

http://greensboroperformingarts.blogspot.com/2014/10/30-billion-unaccounted-for-in-north.html

Crow Holdings Capital Partners LLC and Pay to Play with NC Treasurer Janet Cowell

http://greensboroperformingarts.blogspot.com/2014/10/crow-holdings-capital-partners-llc-and.html

NC Treasurer Janet Cowell "Investors as contributors"

http://greensboroperformingarts.blogspot.com/2014/10/nc-treasurer-janet-cowell-investors-as.html

Crow Holdings Capital Partners LLC and Pay to Play with NC Treasurer Janet Cowell

"Crow Holdings, a management group for at least 6 private hedge funds investing in real estate, is owned by Harlan Crow, an heir to the Trammell Crow estate of Dallas, TX.

Crow ...contributed to the campaigns of ...North Carolina’s most recent treasurers, Richard Moore and Janet Cowell.

A 2007 article from the Charlotte Observer exposed a potential pay-to-play relationship between Harlan Crow and NC’s then-treasurer Richard Moore.

...Crow Holdings had received two commitments from NC’s pension fund by 2006: Crow’s Fund IV receiving a commitment of $80 million and Fund IV-A receiving a commitment of $20 million.

...from the Observer article: “Less than a year later, Crow and six others tied to the firm gave $28,000 to Moore’s campaign on the same day.”

According to management fee documents obtained from the Treasurer’s office during a State Employees Association (SEA-NC) forensic investigation of the Teachers’ and State Employees’ pension fund, Crow Holdings received $384,339 in management fees from NC’s pension during the 2006/2007 fiscal year. The relationship was not shown on NC Treasurer’s report to the public covering the 2006/2007 fiscal year, but Moore’s report of fy2007/2008 shows the market value of NC pension money managed by the two funds at $67.6 million. Crow Holdings received an additional $238,852 in management fees from NC’s pension during the 2007/2008 fiscal year.

During the 2008 election cycle, NC’s now-treasurer Janet Cowell received maximum contributions from Crow family members Harlan, Katherine, Shirley, Margaret D., and Trammell S. Crow, as well as from Trammell Crow Company, totaling $24,000.

During the 4th quarter of 2008, Crow Holdings called upon additional NC pension money through a new fund (Fund V), which is indicated by the initiation of new management fees during that quarter...

...The contributions from the Crow family to NC treasurers ceased with the 2010 introduction of an SEC rule declaring that an advisory firm is prohibited from managing funds from a public retirement account if the firm’s associates have provided financial contributions to the public fund’s controllers during the 2 years prior.

...North Carolina remains one of only 4 states still operating as a sole fiduciary system, with State Treasurer Janet Cowell functioning as the fund’s trustee. This means that Cowell is the sole authority over the fund’s investment decisions, without hindrance from an outside approval process. There are very few people in this world who can make the claim that they exercise unilateral control over $91 billion belonging to the taxpayers. This makes Janet Cowell a very important person in a world of countless fund managers eager to invest on behalf of North Carolina future pensioners, in return receiving on average 1-2% management fees and further profits in the range of 20% off of any gains.

...North Carolina General Statutes restrict how much of our state’s retirement accounts may be invested in alternatives and, according to a 2010 report from North Carolina Auditor Beth Wood, that cap has been exceeded by Treasurer Cowell on multiple occasions.

...by 2013, Treasurer Cowell made an additional $85 million commitment to a new hedge fund established by Harlan Crow’s real estate investment group (Fund VI)...

Management fee documents obtained by SEA-NC show that $531,250 in fees were paid on the new Crow Fund VI during the first and second quarters of 2013. Though the market value for the amount called upon by Crow’s Fund VI should have appeared on North Carolina’s 2012/2013 Annual Investment Report, which states that it covers “investment advisors and fund relationships as of June 30, 2013,” NC’s investment in Fund VI was not disclosed within the report.

The same year, Cowell requested the passage of legislation to further increase the allotment for alternatives investments.

...The investments that Crow makes on behalf of North Carolina are further protected as a “trade secret” under North Carolina’s current laws, which do not require the disclosure. This means that once Crow Holdings takes possession of funding from North Carolina pension, what is done with the money from there is unknown to anybody outside of the offices of Crow and Cowell.

...Future Pensioners Given No Choice, Limited Disclosure

...One can’t help but note the irony in the fact that while one Crow Holdings executive argued that public resources should not be placed on the line for funding a risky real estate venture without allowing the taxpayers a voice in the matter, Crow Holdings Capital was doing exactly that with funds from North Carolina’s pension account.

Not only were the taxpayers of North Carolina, contributors to the state pension account, given no vote in Crow’s investments – they are kept completely in the dark about which private developments the money is funding. Perhaps North Carolina’s pension fund is invested in a hotel owned by Crow Holdings Capital, located just down the street from the proposed “taxpayer-owned” hotel. Or, perhaps NC pension funding has assisted Crow in the acquisition of development property off of I-77 here in North Carolina.

That information remains among North Carolina’s most expensive and best-kept secrets."

http://www.beaufortobserver.net/publicationreturnframe.lasso?-token.address=http://pundithouse.com/2014/10/nc-pension-money-given-to-tillis-pac-financier-in-2013-not-disclosed-on-state-treasury-report/
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NC Treasurer Janet Cowell "Investors as contributors"

http://greensboroperformingarts.blogspot.com/2014/10/nc-treasurer-janet-cowell-investors-as.html

NC Treasurer Janet Cowell Contributions; "Law Firms Seek Cut of State Pension Litigation" and Pay to Play

http://hartzman.blogspot.com/2014/10/nc-treasurer-janet-cowell-contributions.html

Public Information Request for the State of North Carolina's Treasurer

http://greensboroperformingarts.blogspot.com/2014/10/public-information-request-for-state-of.html

George Hartzman, presented to Guilford County's School Board, 10/23/2014

http://greensboroperformingarts.blogspot.com/2014/10/george-hartzman-presented-to-guilford.html