Wednesday, September 30, 2009
Senator Ted Deutch pushes forward on CFO's call for greater SBA accountability
From the Senate Dems:
Senator Ted Deutch (D-Boca Raton) on Wednesday said he was very disappointed at the failure of the Governor and Attorney General to move forward on CFO Alex Sink’s important initiative to improve accountability and oversight within the nation’s fourth largest pension fund and other critical state and local finances.
Senator Deutch also announced he will refile legislation to expand the scope of the state’s oversight of the State Board of Administration, which manages, among other investments, Florida’s $110 billion retirement fund. The Boca Raton Democrat has filed legislation to protect the investors in the state’s retirement system and the retirees who depend on it, each year he has been in the Senate.
“Attorney General Bill McCollum said yesterday, ‘I’m of the adage that if it ain’t broke don’t fix it’. What’s broken is a system where politicians accept the status quo rather than take action on meaningful change,” said Senator Deutch, “CFO Sink has worked to increase transparency, accountability and oversight of Florida’s pension fund since coming into office and yesterday’s reforms were just the latest example. My legislation aims to support these important priorities by giving a greater voice to investors and retirees, ensuring the highest level of integrity and eliminating any potential conflicts of interests.”
Senator Deutch’s bill expands the Investment Advisory Council from 6 to 9 members. Most importantly, each member must have special knowledge and experience to serve on the IAC, and there must be members representing the pension’s investors, namely local government employees, firefighters, police, teachers and state employees, and include a beneficiary of the Florida Retirement System.
The bill requires quarterly reports to the SBA to include more detailed information on alternative investments and on assets that may have been downgraded during the reporting period. The latter aims to alert the board to investments facing great risk, like the securitized debt obligations that proved so devastating during the subprime mortgage market meltdown
It also creates an independent audit committee to provide oversight, additional internal controls, and risk assessment. This committee will consist of six members: 2 appointed by the Governor, 2 by the Attorney General and 1 by the Chief Financial Officer. The CFO will also be an audit committee member.
Finally, the bill also creates new ethics and conflict of interest requirements for outside investment advisers in order to further ensure that the interests of our public investors and retirees always come first.
If endorsed by the legislature this year, the bill will mark the second time Senator Deutch has successfully revamped the operations within the SBA. He previously passed legislation requiring the SBA to divest Florida’s pension funds from companies doing business with Iran and Sudan.
Meet me in Orlando
From FDP:
There is no question - the backbone of every Party or political organization is its grassroots. It's about how many Floridians are going to reach out to their neighbors or invest what few dollars they can in change. That is how we won in 2008-- and it is how we'll do it again in 2010.
But, as we approach our end of the quarter fundraising deadline, just before our State Conference in October, the Republican Party is attacking us and trying reverse the change we worked for in 2008, and the press is looking to see who is ready to win in 2010.
For the last two quarters, three and four times more Floridians have invested in our party than the Republican Party. Now, we have to do it again and show everyone we are united to bring new and different leadership to Tallahassee.
When we gather in October, I hope we can celebrate our grassroots strength and build on another successful quarter. And I want you to join us there.
You have the chance to be selected to join us on the weekend of October 9th and 10th for the Florida Democrats 2009 State Conference in Orlando, and stay with us at Disney's Yacht and Beach Club.
Contribute $20 or more before midnight on September 30th to have a chance to be selected:
http://www.fladems.com/orlandoweekend
I am really excited for the conference. I have talked with a lot of Democrats across Florida in the last few months but I always wish I could talk to just a few more, and stay a bit longer - that's why I am inviting you to take the chance to join us.
If you are selected you will get free tickets and a hotel night for you and a guest to join us at the State Conference including events featuring national leaders like Governors Martin O'Malley of Maryland and John Baldacci of Maine and our own leaders like Senator Bill Nelson and CFO Alex Sink.
It's going to be a great weekend in Orlando - and I really hope that you will donate today and join us there:
http://www.fladems.com/orlandoweekend
We are strong from the ground up - and that makes the Republicans worried. While the Republican Party deals with scandal after scandal from AmEx slush funds to back-room dealings - we are united from the ground up.
In fact, even Bill McCollum's campaign manager is desperately trying to divide us - he's afraid. He sent an email asking Republicans to:
"Help to ensure President Obama stays OUT of our race here in Florida ... help provide momentum to our campaign and force national Democrats to spend their money elsewhere!"
What they still don't understand is that you - our grassroots activists - are the backbone of our party. They don't believe you will stand up and bring change to Florida as you did last year. But, I know, no matter what they come up with to try and divide us, we will work with President Obama and to bring new and different leadership to Tallahassee.
Donate $20 or more today and show the Republicans that we are united and get the chance to be selected to join us at Disney's Yacht and Beach Club for our State Conference:
http://www.fladems.com/orlandoweekend
Thank you for being the backbone of our party and making us ready to win in 2010.
Sincerely,
Scott Arceneaux
Executive Director
Florida Democratic Party
A legacy to Lawton Chiles…
One of Lawton Chiles' most enduring legacies was his ability to bring average Floridians into the political process.
During his time, he foresaw the rise of special interests and big donors and he fully understood the need to balance their interests with your interests.
As a true "man of the people", he fought to establish one of the most effective means of bringing small donors into the political arena: the state's donor matching program.
I am writing you today to ask you to take advantage of this incredible program by making a contribution before midnight on September 30.
Here's how it works… individual donors who write personal checks or contribute online can have their donations matched by a special fund. For Cabinet races, donors who give up to $250 will have their donations matched thereby doubling the impact of their gifts.
Could there be a better way to encourage people to participate?
If you want to help the state's "strongest consumer advocate" become your Agriculture Commissioner, please give now and DOUBLE the impact of your donation:
https://secure.actblue.com/contribute/entity/22866
I am proud to have been a friend and supporter of Walkin' Lawton and am humbled to take part in a legacy program that he worked so hard to establish – I hope you feel the same way.
Sincerely,
Scott Maddox
Gov. John Baldacci To Address The Lawton Chiles Luncheon During Florida Democratic Conference
From FDP:
The Florida Democratic Party announced today that Maine Governor John Baldacci will address Florida Democrats attending the Lawton Chiles Luncheon at the Florida Democratic Party 2009 State Conference. The Lawton Chiles Luncheon will be held on Saturday, October 10.
"I am honored to join Chair Karen Thurman and the Florida Democratic Party at their 2009 State Conference, as Democrats work to seize their historic opportunity to elect proven Democratic leaders to move Florida forward," said Gov. Baldacci.
"We are very excited to have Gov. Baldacci joining us in Orlando for our Lawton Chiles Luncheon," Chair Karen Thurman said. "Gov. Baldacci's proven record fighting for Maine, as governor and in Congress, is a testament to his strong leadership. As Florida Democrats, we are working to elect proven leaders in 2010, such as Alex Sink, to end business as usual and bring change to Florida."
Currently in his second term, Gov. John Baldacci was first elected as Governor of the State of Maine in 2002. Governor Baldacci has made the health, education, and well-being of Mainers his top priorities, and he has drawn on his strong sense of community spirit to serve the people of Maine.
Governor Baldacci was born and raised in Bangor, Maine. One of eight children, Baldacci learned the value of communication and cooperation at a young age. As he grew up in his family's Bangor restaurant, Momma Baldacci's, Baldacci was surrounded by civic-minded family and community members who instilled in him an intense work ethic and an equally intense desire to serve the people of his state. While working at the family restaurant, Baldacci earned a Bachelor of Arts degree in History from the University of Maine, where he continued to learn about the opportunities and challenges that faced the people in his communities.
In 1982, Baldacci was elected to the Maine State Senate, where he served for twelve years, before being elected to the United States House of Representatives for Maine's Second District in 1994. Baldacci was re-elected to Congress in 1996, 1998, and 2000, and he committed himself to acting in the best interest of his home state and the people who lived there. As a member of the House Agriculture Committee and the Committee on Transportation and Infrastructure, Baldacci played an active role in decisions that directly affected the people he served.
To purchase tickets to the Lawton Chiles Luncheon or for more information on the 2009 Conference, Floridians can visit http://fladems.com/2009conference or call the Florida Democratic Party office at (850)222-3411.
Saturday, September 26, 2009
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