“Legend: a lie that has attained the dignity of age.”
–H. L. Mencken
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If it’s owned by the state can’t the state replace the management with people who will serve in the best interests of the businesses they are supposed to serve?
as chartered under the state. In today’s model employers pay into the system and workers benefit when injured.
The key you need to understand is that the Gov here wants to privatize this …. you know turnit into a capital stock firm so that the state might get some shares and monetize its position (which it doesn’t have today).
It’s really quite simple. The Gov controls the board of directors at Pinnacol and he appointed one of his leverage buyout buddies as chairman.
So this chairman he’s a smart guy, he looks at things from the perspective of how do we lever up this business or any business for that matter and then monetize the position. Interestingly I believe the chairman’s firm was listed in the DBJ article as being paid a ton of cash to help shepherd this deal thru.
Make no mistake about it David, Tammeny Hall here wants a cut of the action …. Pinnacol management, the Governors puppet board chairman, and the rest of the “appointed” board are more than willing to help the state take $350+ million from policy holders and injured workers …. as long as they get taken care of along the way via transaction and analyst fees, lobbyist fees, PR fees, stock options, stock grants, IPO shares, and general insider access on which they can trade future information.
It’s kinda like appointing Clayton Pederson and Bo Brownstein to your board.
I ask because Libertad does tend to be a bit biased at times 🙂
If true then we have everyone trying to get their piece of the action from the piggy bank as it’s turned into a private company. And the losers are all the businesses that use Pinnacol (we don’t).
Someone controls who goes on the board and they need to replace the board with people focused on doing what’s best for the businesses Pinnacol was created for.
As many involved in this appear to have forgotten, we’re trying to help companies grow jobs, not be a parasite sucking out additional fees from businesses and thereby reducing the money available to hire more people.
In the meantime, here are some facts concerning the country’s worst Guv and his billionaire buddies not having real great days in the courts:
For Walker
http://www.huffingtonpost.com/…
And for his BFFs, the Koch brothers
http://www.huffingtonpost.com/…
Violins, anyone?
And steel tipped stilettos.
Walker is a horrible prick, but at least he gets shit done. Hickenlooper spends all his time trying to get horrible things accomplished and not succeeding.
a mystery. Walker isn’t, that’s for sure.
Just came from the Denver County Assembly/Convention for the Dems. It went pretty smoothly.
There was the usual Credentials issues that come up because the precincts did not fill out caucus paperwork correctly, but it sounded like they all got resolved pretty easily.
On the Convention side, “uncommitted” did not meet threashold, so Obama got all of the State and CD1 delegates.
On the Assembly side, the only contested race we had was HD1 and the vote came out 37-27 (58%-42%) in favor of Rep. Labuda so she got top line in that primary.
I think all districts were done by 3:30, which is pretty good time, especially since we were not scheduled to start until 10. We even took a one-hour lunch break. We actually started a little late because of difficulty getting the sound system to work properly.
A little after 3:30, those who cared about the platform got back together and hash it out.
Lesson: If you want to influence the platform in any way, start at your precinct caucus. Drives home the point: Attend your caucus, participate from the beginning of the election cycle. The caucus is the “roots” of grassroots.
Another lesson from the Assembly/Convention: politics in your county is a lot more fun from the inside than from the outside.
It felt so “American” being in a big room full of people where Cesar Chavez is considered a hero, where a nomination could proudly be seconded by a candidate’s same-sex partner, where the overwhelming consensus denies government access into your bedroom, your gynocologist’s office and your bong.
Dems are a good bunch of people.
What was the big platform fight about?
Who wins the Labuda/Houck primary in HD 1?
Great job as always Dan Willis.
The Missing 20th Century: How Copyright Protection Makes Books Vanish
We had it all, and still do. It’s worth the guilt
Ok, the big thing to keep in mind is Hawaii has an open primary. So when you walk in to vote you say which ballot you want and vote that in the primary. Because of this most people aren’t registered in either party. It doesn’t mean most voters there are independent, it just means there’s no reason to go get the party card.
So the Hawaii legislature is in the process of passing 8 bills that will exempt the state from most of the environmental regulation in the state. My sister is so upset with this, she decided to challenge the incumbent state Senator in her district. My sister is a Democrat so she went to file for the primary. And…
Democratic State Central Committee rejects Thielen bid to run as Dem candidate for state Senate – no card, then you need permission if there’s less than 6 months to the primary.
And here’s a hilarious post about it – April 1st Edition: Dems admit error, reverse course
“In a surprise move, Mitt Romney announced today that he is ending his presidential campaign and throwing his support behind Rick Santorum…
The governor, however, said he concluded that he has “no chance” to win the general election in December and that a Santorum candidacy in 2012 would be in the “best interest of the party.”..
It’ll be like Goldwater in 1964. I don’t want to wait until 2020 to get my party back. I’m all about efficiency. Let’s get our butts kicked now and move on.”
When asked if he was worried that a Santorum thrashing in 2012 would also cause GOP losses in Congress, Romney said, “sure, but many of the losers will be those Tea Party nuts. If they go back home, Congress may actually be able to get some work done for the American people.”