John Curry: Think STRS needs to shed a few investors?

[Sorry I can't make the chart any bigger. KB]

John Curry, 11/19/05:
Subject: Think STRS needs to shed a few investors?

Molly, I'm inclined to believe that many of the investments experts at STRS are enjoying "sweetheart benefits and salaries" as compared to the investors hired by OPERS. I think the chart from the Plain Dealer addresses this issue. I'd have to see a "side-by-side comparison" of names,salaries, AND bennies (including bonuses) by BOTH OPERS investors and STRS investors before I would take the "at greater costs" to the bank. Am I pessimistic? You bet. I have a right to be - I've seen far too much foot dragging, half truths, tap dancing, and BS slinging performed by STRS upon the actives and retirees in this state. Enough excesses to choke a moose!

In closing, I do find myself agreeing somewhat with Mr. Mitchells's stance that he has noticed a significant loss in the number of investment employees at STRS. He might need extra funding for the printing of reems of job applications for those in the investments department who- I predict -will be charged with violations of the Ohio Ethics Law. The recent "house cleaning" of investment experts at the Ohio BWC may soon be joined by a similar "house cleaning" at 275 East Broad Street - only time will tell if this prediction will become a reality.

John, a Proud CORE member

Sent: Saturday, November 19, 2005 5:17 PM Subject: RE: Think STRS needs to shed a few investors?

Molly, 11/19/05:

supposedly opers hires many more outside at greater costs. the figures say we save more thhan opers in this area

From: John Curry
Subject: Think STRS needs to shed a few investors?
Date: Sat, 19 Nov 2005 13:56:51 -0500

In this 2003 Plain Dealer table, we see that STRS is the "heaviest" Ohio system with the percentage of "in house" investors. OPERS seems to be doing pretty good with a much lower percentage of "in house" investors, don't they? Maybe STRS should take a lesson from OPERS? Maybe STRS should take more than one lesson from OPERS!! Of course, the Lazares and Leone questioning for the need for additional investors fell upon the majority of the Boards deaf ears, didn't it? Maybe those board members didn't see this table. I have a hunch many of them didn't. John- a proud CORE member