RH Jones: No bonuses for failed efforts

From RH Jones, September 16, 2009
Subject: To John & others: Re: no legal bases for bonuses

With this being true ["these investment associates at STRS are 'at will' employees with NO contract. Bonuses can be withdrawn at any time and for any reason or no reason at all." (from John Curry)], the OH STRS investment associates have no legal rights to bonuses. Stopping) bonuses would be lawful, therefore. The recent unwise investments, and those of the Enron era, caused losses of many billions. At this time, or under the guise of awarding the present bonuses after a STRS funds future rebound, writing these checks to those who do not deserve them would appear to shock the sensibilities of the average person, and should not be awarded. Yes, at the time of a surge in investment income when our STRS is investing wisely, please do award reasonable bonuses for that effort, but not for a failed effort as in 2000 & 2009.

This is my sole opinion,
RHJones