Here’s something from my email inbox:
BOHROD CAMPAIGN: BOHROD SLAMS INVESTMENT BOARD BONUSES
MADISON–State Treasurer candidate Dan Bohrod today blasted the recent announcement that employees of the State of Wisconsin Investment Board will receive a total of nearly $5 million in bonuses, just nine days after 144,000 current retirees received notice of a pension benefit reduction averaging 1.3%.
“This is wrong on so many levels,” said Bohrod, a Democratic candidate for State Treasurer, “not the least of which is the very timing of the announcement. At a minimum, it’s insensitive. But, beyond that, bonuses simply don’t belong in the public sector. I’ve seen attempts at bonus and merit programs in the public sector, and there just is no way to effectively administer a bonus program of any sort in the public sector and have it truly accomplish what it’s supposed to.
“Now, the Investment Board does a superb job–its one of the best managed funds in the country–and its employees should be well-compensated. But, they are public servants, and bonuses have no legitimate role anywhere in the public sector. The bonus ethic failed on Wall Street and should not be applied in the public sector. This sends the completely wrong message to taxpayers and undermines the public‘s confidence in its government. The State needs to reconsider its compensation policies.”
Bohrod will face incumbent Dawn Marie Sass in a Democratic primary in September, 2010.
(Authorized and paid for by Bohrod for State Treasurer, Dan Bohrod, Treasurer)
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