Dave Parshall to Ruth Weeks: Why aren't you asking questions?

From Dave Parshall, October 23, 2008
Subject: RE: Ms. Weeks, Rube Goldberg would be proud!

Ms. Weeks,

I worked for HB 315 last year and met with most of the house members and discussed the need for HR 315. Not one mentioned that STRS was mismanaged. The only comments were directed at the present pension enrichment (the 88 %) rule. They said that made 315 a hard sell with the constituents. OEA continues to put their head in the sand. There are 55,000 persons on Wall Street looking for work. I think it is all too appropriate to question our bonus policy at this time or at any time.

The entitlement mentality and greed of those who handle other people’s money has to stop. We need a new policy not only at STRS but also in the financial world as a whole. CORE has gotten letters from a STRS employee telling us that some of the STRS members of the investment department have been overheard bragging about their perks and the great new cars, etc., they have purchased.

The OEA that I worked for in the 60’s and 70’s would have been asking the questions we are asking. Why aren’t you? I have never heard any CORE member say anything put praise for STRS employees. It is the board that we question.

Yours truly,

Dave Parshall,
President of CORE