Monday, July 24, 2006

Dennis Leone on Fisher's departure

From: Dennis Leone
To: Mark Fredrick
Subject: Re: GOVERNOR: Governor's Appointee Resigns From State Teachers Retirement Board
Date: Thu, 20 Jul 2006
I may be wrong, Mark, but it may be -- due to the language in Senate Bill 133 (passed 6-16-04) -- that the gov is required to appoint someone who has demonstrated experience and expertise in investments. Three appointees are officially called "investment specialists." What was NOT considered in the language consideration for SB 133 is the fact that such a "investment specialist," unfortunately, may be lacking and inexperienced in the other areas that apply to being a board member at STRS. Such was the case with Judith Fisher. She was completely unable to understand the functional difference between a public board and a private/corporate board.
Dennis Leone
Larry KehresMount Union Collge
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