Saturday, March 30, 2013

Wisconsin is broke....gimmee a break and gimmee a bonus

maybe this slipped by some folks last week. It was a Saturday, after all and the front page of my local newspaper had a story about "Thirty Rabbits found in 'Horrific State'."

The rabbits were crammed into filthy cages and subject to a deplorable amount of neglect.

Animal abuse is serious and should be reported, but down in the middle of page 3 was a story about the State of Wisconsin awarding bonuses of $8 million to managers of the State Pension fund....despite the fact that pension payments to retirees has decreased.

State pension fund managers get $8 million in bonuses

Madison - Wisconsin's pension fund managers were given more than $8 million in bonuses as a reward for strong investment returns, nearly double what they received last year, according to records released to The Associated Press on Friday.
The bonuses come as most retirees are about to see their pension payments decrease in May for the fifth year in a row due to effects of the 2008 recession. The bonuses were approved by the State of Wisconsin Investment Board on Wednesday and finalized Friday, said the board's spokeswoman, Vicki Hearing.
Twenty-nine people will receive six-figure bonuses. All but six employees of the board, 139 out of 145 workers, will receive some bonus. Seventy-four employees will get bonuses of at least $25,000.
Nearly everyone receiving a six-figure bonus is a money manager. Roughly half of the agency's employees, 66 out of 145, are money managers.
Of the six who didn't get bonuses, four were ineligible and two didn't meet performance standards, Hearing said.
Chief Investment Officer David Villa is getting the largest bonus of nearly $421,000. Two managing directors, Bill McCorkle and Ron Mensink, were the next highest with bonuses of nearly $287,000 and about 282,000, respectfully.
The bonus for the retirement system's executive director was split between the retiring office holder who left in June, Keith Bozarth, and his successor, Michael Williamson. Bozarth will get about $181,000, and Williamson will receive $241,000.

 I guess the local animal shelter is doing ok trying to find homes for the rabbits.  It is Easter.  I wonder if anyone could find a new home for Scott Walker and his crony pols and ass kissers.


Dave Dubya said...

It's important for Republicans to profit from the misery and deprivation of others. It's called "compassionate conservatism".

Randal Graves said...

Stick them in a cage with a healthy dollop of neglect.

Sherry Peyton said...

I also hear that Walker has managed to class his way down to where Wisconsin is now ranked 48th in job creation. I wonder when he called Koch, did they just snicker at him and hang up?

susan said...

I always wondered about when cities, states, and entire countries go broke, just who it is they owe the money to. Now I know.

Life As I Know It Now said...

your state is getting to be more and more like Indiana and for that I am sorry :)

squatlo said...

I haven't been to see my relatives in Wisconsin in over twenty-five years, but I certainly wouldn't characterize it as a "horrific" state. That's what we call Alabama.
Or certain parts of Texas.

okjimm said...

Dave..Compassionate Conservatism is an oxymoron. Kind of like sharing the greed.
Randal....would need a very large cage.
Sherry...but but but Scott is writing a, Sarah Palin.

Susan...Every time a state goes bankrupt...Mit Romney gets his wings.
Libs....we are Sorry, too. I am still angry that the story ended up getting buried on page 3. no one seems to care!!! is still safe to visit.....just leave your wallet at the state line!

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