Our elected Republican officials have made the following moves to straighten out the mess and bring the guilty to justice:
Meanwhile the political hacks continue to take their shots, this time its Michael "Don't Question My Manhood" Coleman. He accused Republican leaders for engaging in “pay-to-play” politics and “trying to sweep the Bureau of Workers’ Compensation investment scandal under the rug.” (WBNS-TV in Columbus)The new BWC administrator has hired EnnisKnupp & Associates, an investment consulting firm, to offer immediate investment management services onsite in preparation for the Management Review Team to conduct their analysis. In operation since 1981, they serve more than 140 clients with aggregate assets of $480 billion. EnnisKnupp’s specific focus will be in the areas of:
o operational review and assistance of domestic/international equity and fixed income;
o outside contracted investment manager’s compliance;
o documentation and analysis of private equity relationships;
o review and assistance with monthly performance reporting;
o documentation for equity and fixed income in-house trading operations; and,
o human resource assessment/requirements for performance of investments fiduciary responsibilities.In addition, BWC has also:
o placed the Chief Investments Officer on administrative leave;
o required all contracts to be signed off by the Administrator;
o released the names, allocations, and market value of all current BWC investments.BWC is also working with the Management Review Council to review every investment made. Jointly, they will examine whether the investment is appropriate, sufficient controls are in place, and if its performance is consistent with key benchmarks. The Management Review Team will report their initial findings back to the Governor on July 18. The members of the Management Review Team are:
o Tom Hayes: director of the Ohio Lottery Commission and team leader;
o Laurie Fiori Hacking: executive director of the Ohio Public Employee Retirement System (OPERS), which manages approximately $65 billion in retirement assets;
o James Nichols: treasurer of The Ohio State University (OSU) since 1981.
In response, Republican Party chairman Bob Bennett said:
“Republicans have taken aggressive action to fix the problems at BWC while Mike Coleman tries to politicize them,” said Ohio Republican Party Chairman Bob Bennett. “The mayor obviously hasn’t answered his Bat phone lately.”In the last six months Mayor Coleman has received nationwide criticism for turning his back on the school district’s crime problem. There is an overtime scandal in his fire department he knew nothing about. And his administration acknowledged long-standing violations and deplorable living conditions at the city’s largest subsidized housing complex. He failed to take action against an agency that misspent millions of dollars intended for the poor, claiming he didn’t even know he had a vote as a member of the agency’s board.
“To top it all off, he’s been giving lucrative city contracts to his top campaign contributors, and he has the nerve to point his hypocritical finger at everyone else and accuse them of pay-to-play,” Bennett said. “Mike Coleman ought to be careful throwing stones from his glass house.”
The run-down from State of the Union:
Coleman’s Busted Bat Phone:This man isn't competant to be Mayor of Columbus let alone Governor of Ohio...
“Columbus Mayor Michael B. Coleman, the other announced Democratic gubernatorial candidate, says he keeps a ‘Bat phone’ next to his bed and top aides know they had better awaken him, no matter what, with big news.” (Joe Hallett and Mark Niquette, The Columbus Dispatch, 6/12/05)
Coleman’s CMACAO Oversight:
“Government officials charged with overseeing an agency that misspent millions intended for the poor knew for years it was in grave trouble. But none acted fast or forcefully enough to save the Columbus Metropolitan Area Community Action Organization. … Coleman has acknowledged that, at first, he thought his position on the board was ceremonial. In fact, he had a vote.” (Barbara Carmen, The Columbus Dispatch, 5/16/05)
Coleman’s Housing Neglect:
“At Columbus' biggest subsidized housing complex, neither the owner nor the city has done much about long-standing violations and squalor. Meanwhile, hundreds of people have to live there.” (Barbara Carmen and Mark Ferenchik, The Columbus Dispatch, 5/29/05)
Coleman’s Corrupt Fire Division:
“Allegations against the bureau include overtime abuse, disparate treatment based on race, mismanagement and theft in office, [Safety Director Mitchell] Brown said. …An investigation by The Dispatch and WBNS-TV (Channel 10) found that at least 12 times last year, inspectors missed buildings entirely or showed up but did no work.” (Jodi Andes, The Columbus Dispatch, 6/2/05)
Coleman’s Pay-to-Play Schemes:
“With few exceptions, The Dispatch found, companies that received construction and architectural contracts from the city's nonprofit development arm also contributed to Coleman's campaign fund. …All of the largest contracts went to Coleman contributors who gave thousands.” (Mark Ferenchik, The Columbus Dispatch, 5/11/04)
