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Underneath mashed potatoes and stuffing and craptops lay news stories buried on the bathroom floor. Like offended thirteen year olds the media and lawmakers are out in force with cans of lysol and incense. Even the offenders know that it stinks. So goes the story of Christine Sinicki, Marlin Schneider, Mike Ellis or Fred Risser. None of the above have ever claimed or in normal circles, used sick time - even when, in Sinicki's case - bedridden. Something that most people reading this post would get fired for. It could only happen in an artificial economy like a governmental entity. Because, if a publicly held company that was held responsible by true market forces had a liability of $3.2 million hanging over its head in unpaid, accrued sick time, they would be downgraded by analysts to "dump". It's the same as debt. And of course, $3.2 million today will compound and explode five, ten and fifteen years from now. Something that cannot be sustained, even by an artificial market like government. And since anything government touches goes up in price dramatically (take the cost of higher education, for example, since 1988), you can bet that when medicine goes socialized that the taxpayer's share will also compound. And not in a saved-and-scraped-and-invested compound interest kind of way. Pee Wee Herman's show had a "word of the day". And whenever you heard the word, you had to scream. Liability is the word of the day. Dumping the shares is the only option. Or dumping the employees who don't claim sick time. Pie in the sky you'll say, but it doesn't change the fact that it's the truth. (also posted at the Confidentials )

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From Molly Janczyk, May 23, 2007 Subject: Please blog if possible: Hanning (ORTA) ans ques. on Sub. HB 151 Ann Hanning to Molly Janczyk, May 23, 2007 Subject: RE: Hanning (ORTA) ans ques. on Sub. HB 151 Date: Wed, 23 May 2007 15:48:43 -0400 Molly, You are welcome. awh Subject: Hanning (ORTA) ans ques. on Sub. HB 151 Thank you, Ann. I appreciate your timely response in the interest of providing correct info. --- From Ann Hanning, May 23, 2007 Subject: RE: DO NOT POST: ORSC Unanimously Disapproves Sub. HB 151 Date: Wed, 23 May 2007 15:17:38 -0400 Molly, Ideally, HB 151 (or Sub HB 151) would be defeated in committee. However, some proposed bills stick like tics. So you work with the sponsors & others. The bill sponsors are passionate freshmen legislators. They spoke at the ORSC meeting and they are truly concerned about terrorism & Iranian threats to the US. As you know, a Sub HB 151 was submitted earlier this week. There are some changes from the original bill. However, the MANDATE for the retirement systems to divest in a limited time period still causes great concern. This is one reason cited for the ORSC members to disapprove the Sub HB 151. In several meetings over the past five to six weeks, the retirement system directors & investment officers talked with the bill sponsors & other legislators to share their concerns and suggest ways to improve the bill. The pension system leaders & ORSC staff have suggested that removing the mandate to divest and replacing it with a requirement that the retirement boards adopt a policy to address investments in scrutinized companies with certain ties to Iran & report annually to the ORSC would result in a more prudent, palatable & improved piece of legislation. ORSC staff has proposed this suggestion as an amendment to the bill. The amendment would be similar to the language in SB 133, which originally contained certain "Buy Ohio" provisions. A complete analysis of the Sub HB 151 is on the ORSC web-site. Please check www.ORSC.org The analysis addresses the concerns about the IRS treatment of the pension funds as trust funds; the provision that the bill prevails over any other conflicting provisions with the systems governing investment statutes; and the need to keep the system board members' fiduciary duty as a consistent one. Glenn Kacic does a great job with the analysis. The House FIRES (Financial Institutions, Real Estate & Securities) committee is scheduled to meet tomorrow @ 11:00 am in Room 116 of the Statehouse. The Sub HB 151 is on the agenda. An amendment as noted above may be introduced. Ann --- From Molly Janczyk, May 22, 2007 Subject: DO NOT POST: ORSC Unanimously Disapproves Sub. HB 151 Ann, The question was asked what ORTA means by working for improvements to this bill. Can you explain what that means? We thought we just wanted it defeated. Thank you. Molly J. Subject: Fwd: ORSC Unanimously Disapproves Sub. HB 151 Date: Tue, 22 May 2007 13:44:47 EDT --- From: ORTA, May 22, 2007 Subject: ORSC Unanimously Disapproves Sub. HB 151 Headlines... ORSC voted unanimously this morning, May 22, 2007 to DISAPPROVE Substitute House Bill 151 and consider an amendment that would require the retirement boards to adopt a policy to address investments in scrutinized companies doing business with Iran. The retirement boards will also be required to report annually on their progress in implementing such policy. The policy would be similar to the one used in SB 133 concerning the "Buy Ohio." An analysis of the substitute bill will be posted as soon as possible. The FIRES committee will meet on Thursday, May 24 at 11:00 a.m. ORTA has been working tirelessly for improvements to this bill. Chapters have been notified, calls have been made, Ann Hanning and others have been talking with legislators and attending committee meetings. ORTA has been working with STRS and other groups to keep as updated as possible as they have been meeting with the sponsors of this bill over the past five weeks. ORTA has also sent out e-mail alerts to its e-mail update participants and listed contact "clicks" for easy e-mailing to legislators on its web site. Rep. Schneider and Rep. Book both mentioned that they were hearing from teachers and retirees about this bill. Rep. Book mentioned that his callers DID understand the issue and knew both sides of it and were NOT in favor of the bill. Sponsors Rep. Jones and Rep. Mandel both spoke at the ORSC meeting this morning. Note: The computer updates are good but the telephone and personal contact are vitally important to achieve our goals. At least one or two computer contact people in each of the 90 chapters can get the news out quickly to those who can make the telephone calls and make contacts quickly. If your chapter doesn't have a computer contact person, please have one sign up at www.orta.org so that we can better serve you.

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From Rep. Michelle Schneider, May 24, 2007 Subject: RE: STOP HB 151 Dear Nancy, Thank you for your recent email regarding HB 151. I appreciate you taking the time to share your thoughts and concerns on this matter. I want you to know that I am working on this bill very closely with Representative Jones. I am opposed to funding terrorism and am working to make this bill better. Again, thank you for writing with regards to this matter as I will certainly keep your thoughts in mind. If I can be of any further assistance please contact my office at (614) 644-6023, 77 South High Street, 14th Floor, Columbus, Ohio 43215 or district35@ohr.state.oh.us. Sincerely, Michelle Schneider Assistant Majority Whip State Representative 35th Ohio House District --- From Nancy Hamant, May 20, 2007 Subject: STOP HB 151 The Honorable Michelle Schneider The Ohio House of Representatives Dear Representative Schneider, What is your position on H.B. 151? As a retired member of STRS, I am extremely concerned that the passage of this bill would severely damage our pension system for reasons I will list below. Please do everything you can to keep this bill from passing. Over 100,000 of retirees will be badly impacted, financially, if it goes through. The unfunded liability of the STRS pension fund would be almost doubled. H.B. 151, though well-intended, would wreak havoc with the STRS pension fund and the lives of all retired Ohio teachers, especially our most elderly. Thank you, respectfully, Nancy B. Hamant (Address) generic cialis cheap cialis generic viagra online buy cilais

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