Treasurer Announces New Economically Targeted Investment Program

first_imgFor immediate release:  April 9, 2007Treasurer Announces New Economically Targeted Investment ProgramMontpelier – Vermont State Treasurer Jeb Spaulding announced today that his office will soon be soliciting investment proposals for a new pension fund program intended to support economic and community development in Vermont.  This initiative stems from a policy on economically targeted investments adopted by the Vermont Pension Investment Committee, which oversees more than $3 billion in retirement funds for Vermont teachers, state employees, and municipal employees.“Our pension fund trustees work hard to protect the workers and retirees who depend on our retirement funds and this initiative will not reduce our obligation in that regard.  However, to the extent that we can support economic and community development in Vermont without sacrificing performance, it makes sense to do so,” Spaulding explained.Economically targeted investments are intended to generate market rate returns while providing collateral benefits that enhance quality of life and promote economic activity in a targeted area, in this case Vermont.  Economic or social benefits do not justify lower returns or inappropriate levels of risk.Spaulding stated that the kinds of investment opportunities that may be appropriate for the pension funds include affordable housing, energy efficiency, venture capital, or timber.  “Actually, we don’t want to limit the field of investment possibilities. We are hoping that creative minds will look over our policy and come up with some innovative proposals that meet our criteria for investment,” Spaulding explained.The program was developed to clearly articulate the criteria by which proposals will be judged and to solicit investment proposals from qualified managers once a year.  The first request for proposals window will be May 1 – June 15, 2007.  In order to be considered, proposals must, at a minimum:Target risk-adjusted, market-rate returns equivalent to or higher than other available investments in a similar asset class, andProvide a substantial, direct, and measurable benefit to economic or community development within the State of Vermont.  Any investments will be placed with an experienced and capable manager in an applicable asset class; no direct investments will be considered.Parties interested in receiving more information on the program should go to the State Treasurer’s Web site at www.vermonttreasurer.gov(link is external) or call 802-828-1452.# # # # #Barbara F. AgnewAssistant to the Treasurer109 State Street, 4th FloorMontpelier, VT  05609-6200Tel:  802-828-1452Fax: 802-828-2772last_img read more

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LeBron James rips Rob Manfred over Astros’ sign-stealing scandal: ‘You need to fix this’

first_imgThe Astros’ sign-stealing scandal has made huge waves in MLB in recent weeks as players continue to criticize commissioner Rob Manfred and the way he handled the situation. The story’s reached the point that players in other sports are taking notice, with NBA superstar LeBron James weighing in via Twitter on Tuesday. Even Mike Trout, the game’s brightest, albeit often dullest and least quotable star, voiced displeasure over the lack of punishment for the Houston players.”I don’t agree with the punishments, the players not getting anything,” Trout said. “It was a player-driven thing. It sucks, too, because guys’ careers have been affected, a lot of people lost jobs. It was tough.”And now the controversy has caught the attention of the NBA’s most well-known player. Manfred’s made it a point of emphasis to bring more attention to the game of baseball, but this likely isn’t what he had in mind, and it seems like it’s going to keep coming for the foreseeable future. Listen I know I don’t play baseball but I am in Sports and I know if someone cheated me out of winning the title and I found out about it I would be F*^king irate! I mean like uncontrollable about what I would/could do! Listen here baseball commissioner listen to your…..— LeBron James (@KingJames) February 18, 2020players speaking today about how disgusted, mad, hurt, broken, etc etc about this. Literally the ball(⚾️) is in your court(or should I say field) and you need to fix this for the sake of Sports! #JustMyThoughtsComingFromASportsJunkieRegardlessMyOwnSportIPlay— LeBron James (@KingJames) February 18, 2020The Astros, of course, won the World Series in 2017, a season they cheated by relaying signs through trashcan banging and other means. MLB punished members of the club’s front office and docked draft picks, but players were not reprimanded nor was their championship stripped.center_img James’ comments are more negative publicity for Manfred, who has become an unpopular MLB figure amid this scandal. Earlier this week, Dodgers third baseman Justin Turner went took on Manfred by name after the commissioner referenced the Astros’ 2017 World Series trophy —​ which is called the Commissioner’s Trophy —​ as “a piece of metal.”“Calling the World Series trophy a piece of metal,…..the only thing devaluing that trophy is that it says commissioner on it,” Justin Turner to me today about the MLB Astros cheating crisis and Ron Manfred’s explanation. #Dodgers pic.twitter.com/Sq3XHWE8W6— Liz Habib (@LizHabib) February 17, 2020MORE: ​MLB players rip Astros over sign-stealing scandalAtlanta Braves veteran outfielder Nick Markakis, who’s long been one of baseball’s quietest players, didn’t hold back his frustration.“To see something like that, it’s damaging to baseball. It’s anger. I feel like every single guy over there needs a beating,” Markakis told reporters Tuesday morning as he reported to spring training.“I know as players we do not agree with what they did. We don’t stand behind them and never will we support them for their actions. I think they got off pretty easy. They are going to be able to go out there and compete with no ramifications at all,” Markakis said of the lack of punishment for players. “I think the commissioner completely handed it the wrong way, but that’s the way he did it. That’s the way we got to live with it. I know a lot of people disagree with him. The way he handled the situation he should be embarrassed of himself.”last_img read more

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