Dennis Leone: Who could possibly offer better deals to employees than STRS?

From Dennis Leone, July 15, 2010
Subject: RE: New questions

At the risk of my memory not being quite 100%, I seem to recall that most of the planned severance checks were going to be in the $9,000 - $12,000 range. I definitely recall that STRS said it would cover the health insurance for the laid-off employees, but I do not remember for how long. I objected to that also. Why? Because in 2003, I closed 3 schools and laid off 50 employees in Chillicothe in order to keep the school district afloat financially……..nobody got severance checks and nobody got extended health insurance beyond the end of the month of when the layoff took effect.

The financial principles used by school districts are not used at STRS because, in the eyes of the executive staff and the Board majority, such would restrict the ability of STRS to hire and keep “the best and the brightest.” I recall personally speaking with STRS employees, who – while I served as a board member – had external interviews and explored alternative employment. Some asked me to be a reference, which I agreed to be if I felt they were doing a good job. What did nearly all of them find out? They found out that the grass was not greener on the other side of the fence.

Who could possibly offer better deals to employees than STRS? Perhaps Major League Baseball, the NBA, or the NFL – and perhaps Hollywood, and maybe Bernie Madoff.

Dennis Leone

From Shirley Zerkel, July 15, 2010
Subject: Re: New questions

Thanks, Dennis, for your quick answer. From your answer I gather that the severance is generous. How generous would you say? Do they also receive health care benefits for several months after employment is over?

Shirlee