Tuesday, June 30, 2009
SOS web site still down
Seems like just a few months ago I was writing about other problems with the Secretary of State's web site but the one I wrote about today is the worst so far. As in, the site is down completely. Good thing it's not campaign finance filing day or anything. . .
Monday, June 29, 2009
Richardson appoints new SIC member
Normally, the news that Gov. Bill Richardson has chosen a new member of the State Investment Council would be small news. But, given the financial scandals out there ( I know I don't have to recount them for you ) the appointment of Peter Frank to the board will get heightened scrutiny. No fault of Frank's, just the way things are.
Anyway, Frank most recently retired as the executive vice president/chief financial officer from Daymon Worldwide Inc., a global marketer of private label goods, according to the Governor's Office. Before that, he spent 35 years with PricewaterhouseCoopers.
"As a former Vice Chairman of Price Waterhouse, Peter Frank brings decades of knowledge and experience to the State Investment Council, and we are fortunate that he has agreed to take on this challenge,” Richardson said in a statement. “Peter has impeccable credentials, is a leader in the financial industry, and has pledged to take an active role in the governance of New Mexico’s Permanent Trust Funds," he said.
Anyway, Frank most recently retired as the executive vice president/chief financial officer from Daymon Worldwide Inc., a global marketer of private label goods, according to the Governor's Office. Before that, he spent 35 years with PricewaterhouseCoopers.
"As a former Vice Chairman of Price Waterhouse, Peter Frank brings decades of knowledge and experience to the State Investment Council, and we are fortunate that he has agreed to take on this challenge,” Richardson said in a statement. “Peter has impeccable credentials, is a leader in the financial industry, and has pledged to take an active role in the governance of New Mexico’s Permanent Trust Funds," he said.
Thursday, June 25, 2009
ERB releases subpoenas
In an about face, the state Educational Retirement Board has just released two subpoenas sought by the media.
The subpoenas ask for broad information about contracts between the ERB and “any firms, individuals, or entities investing funds or providing investment advice to or on behalf of the ERB.” It also asks for “any documents listing the placement agents, brokers or third party marketers” associated with the companies.
They also ask for specific information on Aldus Equity, including correspondence between the ERB and the company and “any documents or records generated by Aldus Equity which were provided to the ERB.”
Aldus is a Dallas-based company implicated in a New York investment scandal, and with which the ERB severed its ties in April. Aldus has denied any wrongdoing.
The board had previously denied requests to release the information despite several media requests, but Chairman Bruce Malott recently urged the board to reconsider.
He said in a statement Thursday he was glad the board did just that.
“I am proud of our superb ERB staff for reconsidering their position on the subpoenas. Sunlight is the best disinfectant and I continue to believe the public's right to see their government at work should never be marginalized,” he said.
The subpoenas ask for broad information about contracts between the ERB and “any firms, individuals, or entities investing funds or providing investment advice to or on behalf of the ERB.” It also asks for “any documents listing the placement agents, brokers or third party marketers” associated with the companies.
They also ask for specific information on Aldus Equity, including correspondence between the ERB and the company and “any documents or records generated by Aldus Equity which were provided to the ERB.”
Aldus is a Dallas-based company implicated in a New York investment scandal, and with which the ERB severed its ties in April. Aldus has denied any wrongdoing.
The board had previously denied requests to release the information despite several media requests, but Chairman Bruce Malott recently urged the board to reconsider.
He said in a statement Thursday he was glad the board did just that.
“I am proud of our superb ERB staff for reconsidering their position on the subpoenas. Sunlight is the best disinfectant and I continue to believe the public's right to see their government at work should never be marginalized,” he said.
Casinos facing real troubles
I wrote this morning about Buffalo Thunder Resort and Casino not being able to make a payment this month on its $245 million bond.
A reader let me know that there's a similar situation at the Inn of the Mountain Gods in Ruidoso. He said local radio station KWES reported last week that the Inn defaulted on a $12 million interest payment on its $200 million bond.
Even though two new casinos opened in the past year in the state -- including Buffalo Thunder -- casino net wins dropped by almost $2.5 million in the first quarter of 2009 compared to the same time period last year.
That trend could spell bad news for the state, because of revenue sharing agreements under which the state gets a cut of what the casinos take in.
A reader let me know that there's a similar situation at the Inn of the Mountain Gods in Ruidoso. He said local radio station KWES reported last week that the Inn defaulted on a $12 million interest payment on its $200 million bond.
Even though two new casinos opened in the past year in the state -- including Buffalo Thunder -- casino net wins dropped by almost $2.5 million in the first quarter of 2009 compared to the same time period last year.
That trend could spell bad news for the state, because of revenue sharing agreements under which the state gets a cut of what the casinos take in.
Tuesday, June 23, 2009
Janice Arnold-Jones mulls run for governor
The woman who pretty much single handedly started the webcasting revolution this session, Rep. Janice Arnold-Jones is thinking about running for governor.
We had a great time covering the whole webcasting debate in the House and Senate because, well, it's fun when a lawmaker does something out of the ordinary. But Arnold-Jones, along with Sen. Mark Boitano, raised good points about government transparency -- always a timely topic and particularly now.
We had a great time covering the whole webcasting debate in the House and Senate because, well, it's fun when a lawmaker does something out of the ordinary. But Arnold-Jones, along with Sen. Mark Boitano, raised good points about government transparency -- always a timely topic and particularly now.
Monday, June 22, 2009
Democrats need your help. Again.
It does seem like just yesterday that the state's Congressional delegation went all Democrat, doesn't it?
That's the question Sen. Tom Udall uses to start off a fundraising pitch he sent this morning.
Democrats need money to "Keep New Mexico Blue," says his letter, which asks supporters to sign up to give monthly donations to the state's Democratic Party.
"Democrats in Washington have hit the ground running and have already passed major legislation to give equal pay for woman, expand child health care and reform the credit card industry," Udall wrote. "But, the Republicans are already gearing up for the 2010 election to try to stop this progress by defeating our three new members of Congress."
So, while the election of Udall, U.S. Sen. Jeff Bingaman, and Reps. Ben Ray Lujan, Martin Heinrich and Harry Teague may feel like yesterday, make no mistake: the next campaign cycle has already begun.
That's the question Sen. Tom Udall uses to start off a fundraising pitch he sent this morning.
Democrats need money to "Keep New Mexico Blue," says his letter, which asks supporters to sign up to give monthly donations to the state's Democratic Party.
"Democrats in Washington have hit the ground running and have already passed major legislation to give equal pay for woman, expand child health care and reform the credit card industry," Udall wrote. "But, the Republicans are already gearing up for the 2010 election to try to stop this progress by defeating our three new members of Congress."
So, while the election of Udall, U.S. Sen. Jeff Bingaman, and Reps. Ben Ray Lujan, Martin Heinrich and Harry Teague may feel like yesterday, make no mistake: the next campaign cycle has already begun.
Friday, June 19, 2009
Indictments in Housing Authority case
Props to Heath Haussamen for getting this scoop.
I confirmed the info with the Attorney General's Office, where spokesman Phil Sisneros said in an e-mail that "Vincent 'Smiley' Gallegos, Robert Strumor, Dennis M. Kennedy and Davis N. Hernandez were indicted today in ABQ.'s Second Judicial Court." (Although the e-mail says Davis N. Hernandez was indicted, the indictment shows a David N. Hernandez.)
Sisneros said the office wouldn't be releasing info on charges or anything else.
See my colleague Steve Terrell's blog for the actual indictments.
State Republicans were fast with reaction on the news.
"This indictment reinforces a growing sentiment that we need to reverse the path on which this state is headed. For far too long, self-serving political insiders have exploited, at taxpayers' expense, their positions for personal or political gain," chairman Harvey Yates said in a statement.
I confirmed the info with the Attorney General's Office, where spokesman Phil Sisneros said in an e-mail that "Vincent 'Smiley' Gallegos, Robert Strumor, Dennis M. Kennedy and Davis N. Hernandez were indicted today in ABQ.'s Second Judicial Court." (Although the e-mail says Davis N. Hernandez was indicted, the indictment shows a David N. Hernandez.)
Sisneros said the office wouldn't be releasing info on charges or anything else.
See my colleague Steve Terrell's blog for the actual indictments.
State Republicans were fast with reaction on the news.
"This indictment reinforces a growing sentiment that we need to reverse the path on which this state is headed. For far too long, self-serving political insiders have exploited, at taxpayers' expense, their positions for personal or political gain," chairman Harvey Yates said in a statement.
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