Hey look – there goes $22 million…

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Yesterday, CNBC reported that with more than $100 billion under its management, Ray Dalio’s Bridgewater Associates is once again the world’s largest hedge fund.

Tomorrow, Governor Dannel Malloy and his appointees on the Connecticut Bond Commission will approve a corporate welfare package for Bridgewater Associates that will cost taxpayers $22 million plus.  The plus “part” is due to the fact that Malloy is actually borrowing the money to give to the giant hedge fund, meaning Connecticut taxpayers must pay back the money, along with the associated interest.

As for the entire debacle, long-time Wait, What? readers will remember that this is actually Plan B of Malloy’s effort to subsidize one of the most successful companies in the world.

The Connecticut Bond Commission agenda explains the latest version of the plan as follows:

These funds are requested to provide a grant-in-aid and loan, under the First Five Program, to Bridgewater Associates, LP to assist with expansion of its facilities in Westport, Wilton and Norwalk. The company will retain 1,402 jobs and create 750 new jobs. The loan will be provided at an interest rate of 1% for ten years with principal deferred for five years. The company will be eligible for loan forgiveness if it creates the 750 jobs and retains the existing jobs by the end of 2021. Also included are a $2 million grant to assist with training and a $3 million grant for installation of alternative energy systems.

As an aside, Dalio’s pay – last year – dropped to $1.6 billion, down from the $2.3 billion a year he collected a couple of years ago.

Things are tough all over… Malloy’s solution;

While middle class families across the state struggle with massive costs, such as student loans with rates of 8% or more, not to mention rising energy costs, as a result of Malloy’s economic development strategy, Connecticut taxpayer will be loaning one of the 1%’s most elite members with a $17 million dollar loan at 1% [go –figure] with no payments due for five years  – and, should the company stick to its present business trajectory – they don’t have to pay back the loan at all.  In addition to the $17 million, Dalio and his company will get $2 million to help subsidize their worker training program and $3 so that they can install some “alternative energy systems.”

Meanwhile, Connecticut’s state budget deficit is about $250 million and growing, The Malloy administration has laid off about 1,000 state employees in the last few weeks and Malloy’s new budget counts on his ability to ax as many as 3,000 more state employees in the coming couple of months.

Called by some, the Reverse Robin Hood Strategy, were in Connecticut we know it as Dannel Malloy’s approach to the advanced capitalist system, one in which taxpayers work extra hard so that their government can give money to successful businesses.

For those who want to know more about Malloy’s horrendous Bridgewater give-a-way program, some of the details can be found in previous Wait, What? posts on this issue.

Yes, you heard right…CT taxpayers give $115 million to Bridgewater, world’s biggest hedge fund (8/19/2012)

Slam-Dunk! Touch-down! Goal!!!! Taxpayers come through for American’s highest paid CEO (1/11/2013)

Damn process gets in the way of the Bridgewater Associates corporate welfare give-a-way (10/2/2013)

“This is stealing from the poor and middle class to make a billionaire even richer” (Pelto, August 2012) (6/27/14)

To Hell with Connecticut’s Middle Class – Someone needs to subsidize the Billionaires (9/16/2015)

Oh, and as for the $2 million Connecticut taxpayers are giving to help Bridgewater Associates train their staff?  Check out,

Bridgewater’s Co-CEO Once “Supervised Subordinates Stripping Off Articles Of Clothing And Setting Them On Fire During A Team-Building Exercise”

As long-time Dealbreaker readers know, we have been writing about the slightly unorthodox culture at Bridgewater Associates since 2010, when we received a spiral-bound copy of Principles, the hedge fund’s unofficial company handbook penned by founder Ray Dalio. At the time, it was surprising to learn of an asset management firm that explained its reasoning for why employees shouldn’t hesitate to identify and eliminate weak colleagues via a discussion about “a pack of hyenas [taking] down a young wildebeest”; told them that failing to confront a person about their shortcomings to their face made you “a slimy weasel”; pushed them to ask themselves if they’d “earned the right to have an opinion”; insisted that “firing people is not a big deal”; and quizzed them on all of the above and more.

Amazingly, though, the Westport-based hedge fund continues to surprise us with the new and innovative ways it conducts its business, many of which are on display in Wall Street Journal article today, examining life under the Tao of Dalio..

[…]

Trustfalls…ON STEROIDS: “Mr. Jensen also cut a distinctive path as a manager. About three years ago, he supervised subordinates stripping off articles of clothing and setting them on fire during a team-building exercise at an official company retreat.

No doubt Ray Dalio and his company need the money more than we do.

2016 – CT legislators sided with Malloy rather than teachers and students on unfair teacher evaluation program (Re-Post)

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Re-posting – Did your CT legislators support students, parents and teachers or Malloy and the Common Core testing mania?

Earlier this month, the Connecticut General Assembly adjourned without even voting on one of the most important pieces of legislation being considered.  It was called Senate Bill 380 – AN ACT CONCERNING THE EXCLUSION OF STUDENT PERFORMANCE RESULTS ON THE MASTERY EXAMINATION FROM TEACHER EVALUATIONS.

Opposed by Governor Dannel Malloy, charter school advocates and the corporate education reform industry, the bill would have required the state to fix its flawed teacher evaluation law and reduce the state’s obsession with Malloy’s massive standardized testing scheme.

Instead of keeping the unfair, inappropriate and discriminatory Common Core Smarter Balanced Assessment Consortium (SBAC) as part of the state’s flawed teacher evaluation program, the proposed law would have required Connecticut to adopt a system that is based on the real factors that determine whether a teacher is successfully doing their job in the classroom.

But Malloy and his allies, including the two major charter school lobby groups, ConnCAN and CCER, demanded that legislators defeat the bill and keep the existing shameful system in place.

Doing Malloy’s bidding, rather than what was right for Connecticut’s children, parents, teachers and public schools, the Democratic leaders of the Connecticut State Senate and Connecticut House of Representatives refused to even bring this important bill up for a vote, thereby killing the legislation.

Malloy and the corporate lobby group’s reach was even evident when the bill was voted on by the Education Committee.

A handful of legislators actually sided with Malloy and the big money charter school lobbyists to VOTE AGAINST the own constituents!

Legislators voting against Connecticut’s students, teachers and public schools included Democratic State Representatives;

Juan Candelaria (New Haven)
Jeff Curry (East Hartford, Manchester, South Windsor)
Henry Genga (East Hartford)
Doug McCrory (Bloomfield)
Brandon McGee (Windsor)
Patricia Miller (Stamford) and
Jason Roja (East Hartford, Manchester)

There were few recorded votes this year that provided citizens with such a stark contrast between right and wrong.

Given the opportunity to ensure that Connecticut reduced Malloy’s fixation with the Common Core testing scam and that it adopted a fair and appropriate teacher evaluation system, these legislators picked Malloy and the charter school industry over their constituents.

Remember this issue when voting in November 2016

The following chart indicates how legislators on the Education Committee voted and who co-sponsored this important piece of legislation.

What is missing is an explanation from Democratic legislators as to why they allowed their leadership to prevent the bill from even coming up for a vote.

Connecticut citizens deserved much better!

Now voters can use the 2016 elections to make sure Connecticut gets better elected officials

 

STATE SENATOR District  Party  Education Committee Co-Sponsor Status
Bartolomeo, Danté S13 D VOTED YES CO-SPONSOR
Boucher, Toni S26 R VOTED YES  
Bye, Beth S05 D VOTED YES  
Cassano, Steve S04 D    
Chapin, Clark J. S30 R    
Coleman, Eric D. S02 D   CO-SPONSOR
Crisco, Joseph J. S17 D    
Doyle, Paul R. S09 D    
Duff, Bob S25 D    
Fasano, Leonard A. S34 R   CO-SPONSOR
Flexer, Mae S29 D   CO-SPONSOR
Fonfara, John W. S01 D    
Formica, Paul M. S20 R    
Frantz, L. Scott S36 R    
Gerratana, Terry B. S06 D   CO-SPONSOR
Gomes, Edwin A. S23 D   CO-SPONSOR
Guglielmo, Anthony S35 R   CO-SPONSOR
Hartley, Joan V. S15 D    
Hwang, Tony S28 R    
Kane, Robert J. S32 R    
Kelly, Kevin C. S21 R    
Kennedy, Ted S12 D    
Kissel, John A. S07 R    
Larson, Timothy D. S03 D    
Leone, Carlo S27 D    
Linares, Art S33 R VOTED NO  
Looney, Martin M. S11 D    
Markley, Joe S16 R    
Martin, Henri S31 R    
Maynard, Andrew M. S18 D    
McLachlan, Michael A. S24 R    
Moore, Marilyn S22 D   CO-SPONSOR
Osten, Catherine A. S19 D    
Slossberg, Gayle S. S14 D VOTED YES  
Winfield, Gary A. S10 D VOTED YES  
Witkos, Kevin D. S08 R   CO-SPONSOR

 

 

STATE REPRESENTATIVE District  Party  Education Committee Co-sponsor Status
Abercrombie, Catherine F. 83 D   CO-SPONSOR
Ackert, Tim 8 R VOTED YES CO-SPONSOR
Adams, Terry B. 146 D   CO-SPONSOR
Adinolfi, Al 103 R    
Alberts, Mike 50 R    
Albis, James 99 D   CO-SPONSOR
Alexander, David 58 D   CO-SPONSOR
Altobello, Emil 82 D    
Aman, William 14 R    
Arce, Angel 4 D    
Arconti, David 109 D   CO-SPONSOR
Aresimowicz, Joe 30 D    
Baker, Andre F. 124 D VOTED YES  
Baram, David A. 15 D   CO-SPONSOR
Becker, Brian 19 D    
Belsito, Sam 53 R VOTED YES  
Berger, Jeffrey J. 73 D    
Berthel, Eric C. 68 R VOTED NO CO-SPONSOR
Betts, Whit 78 R    
Bocchino, Mike 150 R   CO-SPONSOR
Bolinsky, Mitch 106 R VOTED YES CO-SPONSOR
Boukus, Elizabeth A. 22 D    
Brycki, Paul 45 D    
Buck-Taylor, Cecilia 67 R    
Bumgardner, Aundré 41 R VOTED YES  
Butler, Larry B. 72 D   CO-SPONSOR
Byron, Gary 27 R    
Camillo, Fred 151 R   CO-SPONSOR
Candelaria, Juan R. 95 D VOTED NO  
Candelora, Vincent J. 86 R    
Carney, Devin R. 23 R   CO-SPONSOR
Carpino, Christie M. 32 R    
Carter, Dan 2 R VOTED YES  
Case, Jay M. 63 R    
Conroy, Theresa W. 105 D   CO-SPONSOR
Cook, Michelle L. 65 D    
Currey, Jeff 11 D VOTED NO  
D’Agostino, Michael 91 D VOTED YES CO-SPONSOR
D’Amelio, Anthony J. 71 R    
Dargan, Stephen D. 115 D    
Davis, Christopher 57 R    
Demicco, Mike 21 D    
Devlin, Laura 134 R    
Dillon, Patricia A. 92 D    
Dubitsky, Doug 47 R    
Esposito, Louis P. 116 D    
Ferraro, Charles J. 117 R    
Fleischmann, Andrew 18 D VOTED YES  
Floren, Livvy R. 149 R    
Fox, Daniel J. 148 D    
France, Mike 42 R    
Frey, John H. 111 R   CO-SPONSOR
Fritz, Mary G. 90 D    
Genga, Henry J. 10 D VOTED NO  
Gentile, Linda M. 104 D    
Giegler, Janice R. 138 R    
Godfrey, Bob 110 D   CO-SPONSOR
Gonzalez, Minnie 3 D    
Gresko, Joseph P. 121 D   CO-SPONSOR
Guerrera, Antonio 29 D    
Haddad, Gregory 54 D   CO-SPONSOR
Hampton, John K. 16 D   CO-SPONSOR
Harding, Stephen G. 107 R    
Hennessy, John “Jack” F. 127 D   CO-SPONSOR
Hewett, Ernest 39 D   CO-SPONSOR
Hoydick, Laura R. 120 R    
Janowski, Claire L. 56 D   CO-SPONSOR
Johnson, Susan M. 49 D VOTED YES CO-SPONSOR
Jutila, Ed 37 D    
Kiner, David W. 59 D   CO-SPONSOR
Klarides, Themis 114 R    
Kokoruda, Noreen S. 101 R VOTED YES  
Kupchick, Brenda L. 132 R    
Labriola, David K. 131 R    
Lavielle, Gail 143 R VOTED YES  
LeGeyt, Timothy B. 17 R VOTED YES  
Lemar, Roland J. 96 D VOTED YES  
Lesser, Matthew 100 D   CO-SPONSOR
Lopes, Rick 24 D   CO-SPONSOR
Luxenberg, Kelly J.S. 12 D    
MacLachlan, Jesse 35 R    
McCarthy Vahey, Cristin 133 D VOTED YES CO-SPONSOR
McCarty, Kathleen M. 38 R VOTED NO  
McCrory, Douglas 7 D VOTED NO  
McGee, Brandon L. 5 D VOTED NO  
McGorty, Ben 122 R    
Megna, Robert W. 97 D   CO-SPONSOR
Miller, Patricia Billie 145 D VOTED NO  
Miller, Philip J. 36 D    
Miner, Craig A. 66 R   CO-SPONSOR
Morin, Russell A. 28 D   CO-SPONSOR
Morris, Bruce V. 140 D    
Mulligan, Gayle J. 55 R VOTED YES CO-SPONSOR
Mushinsky, Mary M. 85 D    
Nicastro, Frank N. 79 D    
Noujaim, Selim G. 74 R   CO-SPONSOR
O’Dea, Tom 125 R    
O’Neill, Arthur J. 69 R    
Orange, Linda A. 48 D   CO-SPONSOR
Pavalock, Cara Christine 77 R    
Perillo, Jason 113 R    
Perone, Chris 137 D    
Piscopo, John E. 76 R    
Porter, Robyn A. 94 D    
Randall, Christine 44 D   CO-SPONSOR
Rebimbas, Rosa C. 70 R    
Reed, Lonnie 102 D    
Reyes, Geraldo C. 75 D    
Riley, Emmett D. 46 D   CO-SPONSOR
Ritter, Matthew 1 D    
Rojas, Jason 9 D VOTED NO  
Rosario, Christopher 128 D    
Rose, Kim 118 D   CO-SPONSOR
Rovero, Daniel S. 51 D    
Rutigliano, David 123 R    
Ryan, Kevin 139 D    
Sampson, Robert C. 80 R    
Sanchez, Robert 25 D VOTED YES  
Santiago, Ezequiel 130 D    
Santiago, Hilda E. 84 D   CO-SPONSOR
Sayers, Peggy 60 D    
Scanlon, Sean 98 D    
Scott, John F. 40 R    
Serra, Joseph C. 33 D    
Shaban, John T. 135 R    
Sharkey, J. Brendan 88 D    
Simanski, Bill 62 R    
Simmons, Caroline 144 D    
Smith, Richard A. 108 R    
Sredzinski, J.P. 112 R    
Srinivasan, Prasad 31 R    
Stafstrom, Steven 129 D    
Stallworth, Charlie L. 126 D    
Staneski, Pam 119 R VOTED YES CO-SPONSOR
Steinberg, Jonathan 136 D    
Tercyak, Peter A. 26 D   CO-SPONSOR
Tong, William 147 D    
Tweedie, Mark 13 R   CO-SPONSOR
Urban, Diana S. 43 D   CO-SPONSOR
Vail, Kurt 52 R    
Vargas, Edwin 6 D   CO-SPONSOR
Verrengia, Joe 20 D   CO-SPONSOR
Walker, Toni E. 93 D   CO-SPONSOR
Willis, Roberta B. 64 D   CO-SPONSOR
Wilms, Fred 142 R    
Wood, Terrie 141 R    
Yaccarino, Dave W. 87 R   CO-SPONSOR
Zawistowski, Tami 61 R    
Ziobron, Melissa H. 34 R    
Zoni, David 81 D   CO-SPONSOR
Zupkus, Lezlye 89 R    

 

Did your CT legislators support students, parents and teachers or Malloy and the Common Core testing mania?

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Earlier this month, the Connecticut General Assembly adjourned without even voting on one of the most important pieces of legislation being considered.  It was called Senate Bill 380 – AN ACT CONCERNING THE EXCLUSION OF STUDENT PERFORMANCE RESULTS ON THE MASTERY EXAMINATION FROM TEACHER EVALUATIONS.

Opposed by Governor Dannel Malloy, charter school advocates and the corporate education reform industry, the bill would have required the state to fix its flawed teacher evaluation law and reduce the state’s obsession with Malloy’s massive standardized testing scheme.

Instead of keeping the unfair, inappropriate and discriminatory Common Core Smarter Balanced Assessment Consortium (SBAC) as part of the state’s flawed teacher evaluation program, the proposed law would have required Connecticut to adopt a system that is based on the real factors that determine whether a teacher is successfully doing their job in the classroom.

But Malloy and his allies, including the two major charter school lobby groups, ConnCAN and CCER, demanded that legislators defeat the bill and keep the existing shameful system in place.

Doing Malloy’s bidding, rather than what was right for Connecticut’s children, parents, teachers and public schools, the Democratic leaders of the Connecticut State Senate and Connecticut House of Representatives refused to even bring this important bill up for a vote, thereby killing the legislation.

Malloy and the corporate lobby group’s reach was even evident when the bill was voted on by the Education Committee.

A handful of legislators actually sided with Malloy and the big money charter school lobbyists to VOTE AGAINST the own constituents!

Legislators voting against Connecticut’s students, teachers and public schools included Democratic State Representatives;

Juan Candelaria (New Haven),

Jeff Curry (East Hartford, Manchester, South Windsor),
Henry Genga (East Hartford),
Doug McCrory (Bloomfield),
Brandon McGee (Windsor)
Patricia Miller (Stamford) and
Jason Roja (East Hartford, Manchester)

There were few recorded votes this year that provided citizens with such a stark contrast between right and wrong.

Given the opportunity to ensure that Connecticut reduced Malloy’s fixation with the Common Core testing scam and that it adopted a fair and appropriate teacher evaluation system, these legislators picked Malloy and the charter school industry over their constituents.

Remember this issue when voting in November 2016

The following chart indicates how legislators on the Education Committee voted and who co-sponsored this important piece of legislation.

What is missing is an explanation from Democratic legislators as to why they allowed their leadership to prevent the bill from even coming up for a vote.

Connecticut citizens deserved much better!

 

STATE SENATOR District  Party  Education Committee Co-Sponsor Status
Bartolomeo, Danté S13 D VOTED YES CO-SPONSOR
Boucher, Toni S26 R VOTED YES  
Bye, Beth S05 D VOTED YES  
Cassano, Steve S04 D    
Chapin, Clark J. S30 R    
Coleman, Eric D. S02 D   CO-SPONSOR
Crisco, Joseph J. S17 D    
Doyle, Paul R. S09 D    
Duff, Bob S25 D    
Fasano, Leonard A. S34 R   CO-SPONSOR
Flexer, Mae S29 D   CO-SPONSOR
Fonfara, John W. S01 D    
Formica, Paul M. S20 R    
Frantz, L. Scott S36 R    
Gerratana, Terry B. S06 D   CO-SPONSOR
Gomes, Edwin A. S23 D   CO-SPONSOR
Guglielmo, Anthony S35 R   CO-SPONSOR
Hartley, Joan V. S15 D    
Hwang, Tony S28 R    
Kane, Robert J. S32 R    
Kelly, Kevin C. S21 R    
Kennedy, Ted S12 D    
Kissel, John A. S07 R    
Larson, Timothy D. S03 D    
Leone, Carlo S27 D    
Linares, Art S33 R VOTED NO  
Looney, Martin M. S11 D    
Markley, Joe S16 R    
Martin, Henri S31 R    
Maynard, Andrew M. S18 D    
McLachlan, Michael A. S24 R    
Moore, Marilyn S22 D   CO-SPONSOR
Osten, Catherine A. S19 D    
Slossberg, Gayle S. S14 D VOTED YES  
Winfield, Gary A. S10 D VOTED YES  
Witkos, Kevin D. S08 R   CO-SPONSOR

 

 

STATE REPRESENTATIVE District  Party  Education Committee Co-sponsor Status
Abercrombie, Catherine F. 83 D   CO-SPONSOR
Ackert, Tim 8 R VOTED YES CO-SPONSOR
Adams, Terry B. 146 D   CO-SPONSOR
Adinolfi, Al 103 R    
Alberts, Mike 50 R    
Albis, James 99 D   CO-SPONSOR
Alexander, David 58 D   CO-SPONSOR
Altobello, Emil 82 D    
Aman, William 14 R    
Arce, Angel 4 D    
Arconti, David 109 D   CO-SPONSOR
Aresimowicz, Joe 30 D    
Baker, Andre F. 124 D VOTED YES  
Baram, David A. 15 D   CO-SPONSOR
Becker, Brian 19 D    
Belsito, Sam 53 R VOTED YES  
Berger, Jeffrey J. 73 D    
Berthel, Eric C. 68 R VOTED NO CO-SPONSOR
Betts, Whit 78 R    
Bocchino, Mike 150 R   CO-SPONSOR
Bolinsky, Mitch 106 R VOTED YES CO-SPONSOR
Boukus, Elizabeth A. 22 D    
Brycki, Paul 45 D    
Buck-Taylor, Cecilia 67 R    
Bumgardner, Aundré 41 R VOTED YES  
Butler, Larry B. 72 D   CO-SPONSOR
Byron, Gary 27 R    
Camillo, Fred 151 R   CO-SPONSOR
Candelaria, Juan R. 95 D VOTED NO  
Candelora, Vincent J. 86 R    
Carney, Devin R. 23 R   CO-SPONSOR
Carpino, Christie M. 32 R    
Carter, Dan 2 R VOTED YES  
Case, Jay M. 63 R    
Conroy, Theresa W. 105 D   CO-SPONSOR
Cook, Michelle L. 65 D    
Currey, Jeff 11 D VOTED NO  
D’Agostino, Michael 91 D VOTED YES CO-SPONSOR
D’Amelio, Anthony J. 71 R    
Dargan, Stephen D. 115 D    
Davis, Christopher 57 R    
Demicco, Mike 21 D    
Devlin, Laura 134 R    
Dillon, Patricia A. 92 D    
Dubitsky, Doug 47 R    
Esposito, Louis P. 116 D    
Ferraro, Charles J. 117 R    
Fleischmann, Andrew 18 D VOTED YES  
Floren, Livvy R. 149 R    
Fox, Daniel J. 148 D    
France, Mike 42 R    
Frey, John H. 111 R   CO-SPONSOR
Fritz, Mary G. 90 D    
Genga, Henry J. 10 D VOTED NO  
Gentile, Linda M. 104 D    
Giegler, Janice R. 138 R    
Godfrey, Bob 110 D   CO-SPONSOR
Gonzalez, Minnie 3 D    
Gresko, Joseph P. 121 D   CO-SPONSOR
Guerrera, Antonio 29 D    
Haddad, Gregory 54 D   CO-SPONSOR
Hampton, John K. 16 D   CO-SPONSOR
Harding, Stephen G. 107 R    
Hennessy, John “Jack” F. 127 D   CO-SPONSOR
Hewett, Ernest 39 D   CO-SPONSOR
Hoydick, Laura R. 120 R    
Janowski, Claire L. 56 D   CO-SPONSOR
Johnson, Susan M. 49 D VOTED YES CO-SPONSOR
Jutila, Ed 37 D    
Kiner, David W. 59 D   CO-SPONSOR
Klarides, Themis 114 R    
Kokoruda, Noreen S. 101 R VOTED YES  
Kupchick, Brenda L. 132 R    
Labriola, David K. 131 R    
Lavielle, Gail 143 R VOTED YES  
LeGeyt, Timothy B. 17 R VOTED YES  
Lemar, Roland J. 96 D VOTED YES  
Lesser, Matthew 100 D   CO-SPONSOR
Lopes, Rick 24 D   CO-SPONSOR
Luxenberg, Kelly J.S. 12 D    
MacLachlan, Jesse 35 R    
McCarthy Vahey, Cristin 133 D VOTED YES CO-SPONSOR
McCarty, Kathleen M. 38 R VOTED NO  
McCrory, Douglas 7 D VOTED NO  
McGee, Brandon L. 5 D VOTED NO  
McGorty, Ben 122 R    
Megna, Robert W. 97 D   CO-SPONSOR
Miller, Patricia Billie 145 D VOTED NO  
Miller, Philip J. 36 D    
Miner, Craig A. 66 R   CO-SPONSOR
Morin, Russell A. 28 D   CO-SPONSOR
Morris, Bruce V. 140 D    
Mulligan, Gayle J. 55 R VOTED YES CO-SPONSOR
Mushinsky, Mary M. 85 D    
Nicastro, Frank N. 79 D    
Noujaim, Selim G. 74 R   CO-SPONSOR
O’Dea, Tom 125 R    
O’Neill, Arthur J. 69 R    
Orange, Linda A. 48 D   CO-SPONSOR
Pavalock, Cara Christine 77 R    
Perillo, Jason 113 R    
Perone, Chris 137 D    
Piscopo, John E. 76 R    
Porter, Robyn A. 94 D    
Randall, Christine 44 D   CO-SPONSOR
Rebimbas, Rosa C. 70 R    
Reed, Lonnie 102 D    
Reyes, Geraldo C. 75 D    
Riley, Emmett D. 46 D   CO-SPONSOR
Ritter, Matthew 1 D    
Rojas, Jason 9 D VOTED NO  
Rosario, Christopher 128 D    
Rose, Kim 118 D   CO-SPONSOR
Rovero, Daniel S. 51 D    
Rutigliano, David 123 R    
Ryan, Kevin 139 D    
Sampson, Robert C. 80 R    
Sanchez, Robert 25 D VOTED YES  
Santiago, Ezequiel 130 D    
Santiago, Hilda E. 84 D   CO-SPONSOR
Sayers, Peggy 60 D    
Scanlon, Sean 98 D    
Scott, John F. 40 R    
Serra, Joseph C. 33 D    
Shaban, John T. 135 R    
Sharkey, J. Brendan 88 D    
Simanski, Bill 62 R    
Simmons, Caroline 144 D    
Smith, Richard A. 108 R    
Sredzinski, J.P. 112 R    
Srinivasan, Prasad 31 R    
Stafstrom, Steven 129 D    
Stallworth, Charlie L. 126 D    
Staneski, Pam 119 R VOTED YES CO-SPONSOR
Steinberg, Jonathan 136 D    
Tercyak, Peter A. 26 D   CO-SPONSOR
Tong, William 147 D    
Tweedie, Mark 13 R   CO-SPONSOR
Urban, Diana S. 43 D   CO-SPONSOR
Vail, Kurt 52 R    
Vargas, Edwin 6 D   CO-SPONSOR
Verrengia, Joe 20 D   CO-SPONSOR
Walker, Toni E. 93 D   CO-SPONSOR
Willis, Roberta B. 64 D   CO-SPONSOR
Wilms, Fred 142 R    
Wood, Terrie 141 R    
Yaccarino, Dave W. 87 R   CO-SPONSOR
Zawistowski, Tami 61 R    
Ziobron, Melissa H. 34 R    
Zoni, David 81 D   CO-SPONSOR
Zupkus, Lezlye 89 R  

Bankrupting Connecticut – Nothing to see here – Just keep moving

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The Wait, What? Blog was created in January 2011.  Since then, 2,340 articles have been posted to the site.  In turn, the commentary pieces have generated well in excess of $2 million hits.

One of the most constant refrains has been the problems and dangers associated with the excess debt that is dragging Connecticut down and the irresponsible failure of the state’s elected officials – both Democrat and Republican – to deal with that mounting crisis

Initial posts to Wait What? included More on the issues underling Connecticut’s State Employee Pension System (1/25/11) and Connecticut’s state pension fund in its worst shape since the state began saving for pension obligations in the mid-1980s. (2/1/11).

Over the years came additional posts such as;

Look-Out – He’s got our credit card and he is going nuts!  (3/24/15)

WARNING!  WARNING! The state of Connecticut’s Fiscal Health  (11/18/14)

Malloy’s “NO TAX” pledge will send Connecticut into the abyss  (5/6/14)

The State Budget Gimmick to End all Budget Gimmicks (12/1/14)

Is that your credit card? Why yes, yes it is…. (9/26/13)

Connecticut: The Republic of Debt    (6/19/13)

And many, many more….

The effort to alert, warn and educate citizens about the fact that elected officials are failing to address Connecticut’s extraordinary debt crisis highlights the words of Jonathan Kozel, the great public education advocate and award winning author, who once wrote;

“Now, I don’t expect what I write to change things. I think I write now simply as a witness. This is how it is. This is what we have done. This is what we have permitted.” – Jonathan Kozol

And as if to prove the point, the debt crisis has gotten even worse thanks to the actions and inactions of Governor Dannel Malloy, Lt. Governor Nancy Wyman and the Democratic controlled Generally Assembly.

As if to drive the point home, today’s CT Newsjunkie headline reads, Pew: Connecticut Has One of Highest Public Debt to Personal Income RatiosThe story reports;

Connecticut has one of the highest ratios of debt to personal income and the fifth highest ratio of state retiree health care liabilities to income, according to a Pew Charitable Trusts report released Tuesday.

The report, which measured each state’s pension, health care and debt costs as a percentage of personal income, put Connecticut’s total liabilities at $67.5 billion dollars or 30 percent of personal income.

The ratio of public debt to private income is 8.8 percent, which ties Connecticut with Massachusetts for the second highest rate of public debt. When pension, healthcare and public debt are totaled, Connecticut has the fifth highest rate of unfunded liabilities.

Connecticut’s pension woes are well documented. The state’s pension obligations are about 40 percent funded, according to the 2015 actuarial valuation of the fund. Only 7 other states have a higher rate of unfunded liabilities.

Courtesy of CT Newsjunkie

Courtesy of CT Newsjunkie

 

While the information is hardly new, it remains extremely newsworthy.

It is newsworthy, in part, because Connecticut’s politicians are making things worse, not better and because many of them won’t even tell the truth about the crisis.

Take for example, the notorious failure to properly fund Connecticut’s pension obligations.

The new technique for ducking responsibility is to talk about “structural change,” as if we could just pass a law to reduce the problem with unfunded pension obligations.

The fact is that a state employee hired today is placed in what is called Tier III of the Connecticut State Pension System.

Tier IIA was already the least generous pension in New England, Tier III provides is even stingier.

The real reason Connecticut owes so much money to its Pension Fund is that, for the past four decades, the state has FAILED to make the necessary payments into the fund and has even raided the fund to pay for annual budget expenses.

As the CT Mirror’s Keith Phaneuf has written over and over again, and the CT Newsjunkie explains today;

The state will have to pay more than $1.5 billion into the pension fund this year to meet the annually required contribution, of which $1.2 billion represents unfunded liability or an amortization payment toward past unfunded liability. An estimated 82 percent of that payment represents the payment for unfunded liabilities. The normal annual cost of pension benefits is less than $300 million.

Had Connecticut been making its payments all along, there wouldn’t be a pension fund problem.

If Connecticut had been funding the Pension Fund correctly, the state would now have about $1 billion available to preserve vital services and begin the process of providing adequate funding to Connecticut’s public schools, and thereby reducing the unfair property tax burden the is helping to crush the Middle Class.

Instead, scarce taxpayer money is going to address the excess debt — and still the debt grows.

Over the four decades, Connecticut has had 3 Democratic governors, 2 Republican governors and an Independent/Republican governor.  Not one of them was willing to do the right thing.

A recent public opinion poll listed Dannel Malloy as the 2nd least popular governor in United States.

Malloy’s response was that his “numbers were low” because he was making the tough choices and doing the right thing.

But of course, nothing could be further from the truth.

Malloy’s legacy is not about doing the right thing.

Among Malloy’s list of failures is his refusal to properly address Connecticut’s long term debt.

You can read the important CT Newsjunkie story at: http://www.ctnewsjunkie.com/archives/entry/pew_connecticut_has_one_of_highest_public_debt_to_personal_income_ratios/

A lesson about Garbage In, Garbage Out and turning classrooms into testing factories

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Fellow columnist and public education advocate Sarah Darer Littman left Governor Dannel Malloy, the corporate education reform industry and their obsession with standardized testing no room to hide in her latest MUST READ article in CT Newsjunkie entitled, Garbage In, Garbage Out: A Reminder for PEAC and the State Board of Education

Using the adage that “Garbage In, Garbage Out,” or “GIGO” as it is known, leads to useless or even dangerous outcomes, Littman highlights a series of recent examples that reveal the very real and serious ramifications that result from the corporate greed and testing mania that is being pushed by Malloy and other “education reform” allies.

While the corporations win and the politicians collect big campaign donations, our children, teachers and public schools lose … along with the taxpayers whose scarce resources get diverted from educating children to pumping up profits for the testing companies.

In one example she explains;

Justice Roger D. McDonough of the N.Y. Supreme Court’s 3rd District provided a reminder of this on Tuesday when he ruled in the case of Sheri G. Lederman that the N.Y. Education Department’s growth score and rating of her as “ineffective” for the 2013-14 school year was “arbitrary and capricious and an abuse of discretion.”

Lederman is a fourth-grade teacher in Great Neck, Long Island. Great Neck’s Superintendent of Schools at the time she filed the lawsuit, Thomas Dolan, described her as a “highly regarded as an educator” with “a flawless record,” whose students consistently scored above the state average on standardized math and English tests. In 2012-13, more than two-thirds of her students scored as proficient or advanced. Yet in 2013-14, despite a similar percentage of students meeting or exceeding the standards, Lederman was rated “ineffective” as a teacher.

The problem with the testing program in New York parallels the problem in Connecticut.

Despite the massive expenditure of public dollars, including more than $20 million a year in Connecticut state funds, the SBAC test and its sister version which is called the PARCC test, fail to adequately measure student achievement and have no appropriate role in the teacher evaluation process.

But the truth is irrelevant when it comes to Malloy, his Commissioner of Education, his political appointees on the State Board of Education or, for that matter, the members of the Connecticut General Assembly.

For them, the perceived value of looking “tough” on teachers and schools is more important than the reality of doing what it takes to actually ensure that every child gets the quality education they need and deserve.

As Sarah Darer Littman explains,

Four years ago, in a meeting with the CTNewsJunkie editorial board, Gov. Dannel P. Malloy made the outrageous, nonsensical claim that teachers leaving the profession had nothing to do with such punitive policies, and when provided with research to the contrary his reply was silence and a determination to stay his clearly detrimental course.

And there is more, much more.

Sarah Darer Littman’s Garbage In, Garbage Out: A Reminder for PEAC and the State Board of Education is an extremely powerful piece.

Go read it at: http://www.ctnewsjunkie.com/archives/entry/op-ed_garbage_in_garbage_out_a_reminder_for_peac_and_the_state_board_of_ed/

Maintaining the status quo of two Connecticuts (By Wendy Lecker)

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Wendy Lecker, leading public education advocate, education funding expert and fellow education columnist, returns to the issue of Governor Dannel Malloy and his administration’s utter failure to address the historic underfunding of Connecticut’s public schools or provide our students, parents, teachers and public schools with the resources and support they need to ensure a quality education for every Connecticut child.

At a time when a comprehensive, quality education is more important than ever, it is a stunning and terrible commentary that a governor, commissioner of education and legislature would intentionally refuse to fulfill one of their most fundamental and important responsibilities.  It is truly a sign of the times.

In her latest column, that first appeared in the Stamford Advocate this past weekend, Wendy Lecker writes;

Maintaining the status quo of two Connecticuts

The defense is in full swing at Connecticut’s school funding trial, CCJEF v. Rell. The state is attempting to make the case that Connecticut’s poorest schools do not need any more state funding.

As if to hammer home their point, the newly minted deal from Gov. Dannel P. Malloy and the Democratic legislators slashes nearly $100 million from state education aid. More than $30 million will be cut from the state’s funding formula, ECS, along with tens of millions cut for school transportation, millions cut from special education; and cuts to additional state aid to Connecticut’s poorest districts, such as millions cut from priority school grants and turnaround funds.

These state aid reductions will have the most devastating effect in our poorest school districts. As detailed in an earlier column, Hartford is already forced to cut teachers, guidance counselors, intervention specialists and other key staff and programs. Further cuts to state aid will force more deprivation for these already starving schools.

How is the state dealing with this reality in court? The testimony of Education Commissioner Wentzell provides a clue. Wentzell, who spent most of her career in wealthy school districts or selective choice programs, repeatedly asserted on the stand that “leadership is much more important than money.” She even went so far as to claim that “(l)eadership without money works very well.” When asked whether resources might have something to do with student achievement, she pointedly evaded the question, even when the judge asked her directly.

Wentzell clung to her notion that all schools need is “leadership” even while conceding that CCJEF districts lack adequate basic resources such as guidance counselors. She downplayed the importance of other essential educational resources. For example, despite universal agreement that pre-K improves academic and life outcomes, especially for poor children, Wentzell said she did not know whether pre-K helps close achievement gaps. She also discounted the shortage of library and media specialists in Connecticut’s poorest districts.

Wentzell sang a different tune at Connecticut’s All-State Music Festival, just days after her testimony. The All-State Festival selects, based on auditions, student musicians from across the state from among those who already made the cut in earlier regional festivals. The students who were selected spent two days rehearsing with guest conductors, then performed for the public at the Connecticut Convention Center. Addressing the audience and more than 400 student-musicians before the concerts, Wentzell emphasized that music is essential to a quality education; claiming she and the state are committed to music education in Connecticut’s public schools.

Although the festival took place in Hartford, not one Hartford student participated in the concerts. Nor were there students from Bridgeport, Windham, New Britain or New London schools — all CCJEF plaintiff districts. The concert participants were virtually all from Connecticut’s wealthier districts.

It is not that talent only resides in Connecticut’s affluent towns. In Bridgeport, because of a lack of resources, instrumental programs are virtually nonexistent. There is no instrumental program in elementary school and very little in middle school. Harding High School had no music teacher until last year. Only one Bridgeport high school has a small band. The story is similar in Hartford. Many schools cannot offer any music classes at all. There is no instrumental music in Windham’s elementary schools, except for the higher-funded STEM magnet, and very little in middle school. As a result, Windham’s high school music programs are small. New Britain has to rely on outside grants to try to cobble together an elementary music program. Children in our poorest districts have little exposure to music education and their talent goes undeveloped.

Does Commissioner Wentzell think that “leadership” will enable these districts to conjure flutes and violins from thin air?

The contradictory messages Wentzell sent in court and on the stage at the All-State Festival are telling. For her, children in Connecticut’s poorest districts do not need essentials such as guidance counselors, pre-K, libraries, or music, as long as they have “leadership.” But children in Connecticut’s wealthiest districts can have it all.

Wentzell, Malloy and our other state leaders are clearly content with the status quo of two Connecticuts: well-appointed schools in wealthy mostly white towns, and our poorest schools, serving our neediest children and mostly children of color, unable to provide the basics. Let us hope that the judge sees the injustice Connecticut’s political leaders refuse to acknowledge.

Wendy Lecker’s article first appeared in the Stamford Advocate and other Hearst Connecticut Media Group publications.  You can read and comment on it at at: http://www.stamfordadvocate.com/news/article/Wendy-Lecker-Maintaining-the-status-quo-of-two-7467340.php

CT Legislators who voted in favor of the disastrous state budget should be defeated – Period

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The twenty-one Democratic members of the Connecticut State Senate have thrown their constituents aside by voting in favor of the budget agreement that was developed by Governor Dannel Malloy and the legislature’s Democratic leadership.  The budget is an appalling, mean-spirited and irresponsible plan that stabs the people of Connecticut in the back and violates the fundamental responsibility that elected officials have to do what is right for their constituents and the state of Connecticut.

Later today – Friday May 13, 2016 – the Connecticut House of Representatives will voting on this unprecedented attack on public education, vital health and human services and fiscal honesty and transparency.

Despite the lies coming from Malloy and his loyalists, the state budget does not balance nor does it put Connecticut’s fiscal house in order.

What it does do is undermine Connecticut’s children, our state’s most vulnerable citizens, public employees and the programs and policies designed to make Connecticut a healthy, safer and better place to live.

It is a vicious, stupid and short-sighted spending plan that mimics the values of Wisconsin Governor Scott Walker rather than the people of Connecticut.

Malloy, with the help of Democratic legislators, is ushering in an era of austerity that will hurt people and further erode Connecticut’s future and wellbeing.

Any legislator who votes for this budget voids their right to be called a representative of the people.

For More Read;

Dems slash education funding, sneak special 10% admission tax for Hartford and gag future information on deficits

Any CT legislator who votes for the proposed State Budget deserves to lose in November

Senate Passes Budget; House Up Next (CT Newsjunkie)

A handshake, then a vote on Connecticut’s next budget (CT Mirror)

Last-minute bill would rein in CT budget deficit forecasts (CT Mirror)

 

Dems slash education funding, sneak special 10% admission tax for Hartford and gag future information on deficits

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“Power tends to corrupt and absolute power corrupts absolutely”

Beware fellow citizens…

The disastrous state budget plan developed by Governor Malloy and the Democratic leaders of the Connecticut General Assembly is getting worse by the minute.

Having managed to hide key budget details from the public until the day of the vote, Democratic legislators are now being instructed to approve a budget implementation bill that includes numerous outrageous provisions that would never pass if they stood on their own.

Traditionally referred to as “rats,” select legislators, lobbyists and special interests use what is called “back of the budget” language to circumvent the traditional legislative process.

A prime example of this tactic can be found in Section 188 of the new state budget bill.

Connecticut residents may remember how Governor Malloy and other state leaders endorsed the construction of the new baseball stadium in Hartford, falsely stating that not only would the facility be a win-win for the Capitol City, but that Connecticut taxpayers would not be on the hook for subsidizing the project.

Of course, such was not the case.

Legislative language hidden deep inside today’s budget bill exempts events at the Dunkin Donut stadium from having to collect Connecticut’s 10 percent Admission Tax and, instead, sets up a new law that allows Hartford to add its own 10 percent surcharge on all tickets sold at the “Home of the Yard Goats.”

The money from this extra tax would flow straight to Hartford City Hall…. Providing the boondoggle with a much-needed public subsidy from Connecticut taxpayers

To sweeten the deal, the Malloy/Democratic leadership budget also adds a provision that a group of other cities could put on their own admission tax in their particular venues, but the others could only collect up to 5% of the cost of a ticket.

Meanwhile, the same outrageous implementation budget bill includes unprecedented language that allows cities and towns to simply cut their local public school budgets by the amount of any reduction in state aid those schools.

This means that while a number of cities and towns will be getting a major pot of cash dumped on the non-education side of the budget, they won’t even have to maintain their efforts to fund their schools.

And if those two sections weren’t telling enough, any member of the Connecticut State Senate and State House of Representatives who votes in favor of this bill will be taking the truly unprecedented step of adopting a law that would literally PROHIBIT the non-partisan office of Fiscal Analysis from reporting on future budget expenditures and possible deficits that are the result of the annual increases that go with maintaining current services.

THIS IS EXTREMELY IMPORTANT!

With no public hearing, no public input and no public notice, Malloy and the Democratic leaders of the General Assembly have including language in this year’s budget implementation bill that intentionally prevents the media and the public from knowing the true ongoing costs of state government.

The CT Mirror’s Keith Phaneuf explains this incredible development in his latest article;

Future state deficit forecasts are likely to shrink significantly under a method imposed in the new state budget plan that disregards billions of dollars in annual expenditures not fixed by contract or federal mandate.

The language, proposed by Gov. Dannel P. Malloy, is included in an omnibus policy bill to help implement the proposed $19.76 billion budget for the fiscal year beginning July 1.

House Minority Leader Themis Klarides, R-Derby, blasted the measure — which was released only a few hours before the Senate was expected to debate it Wednesday morning — as a means to hide Connecticut’s fiscal woes from the public.

Malloy and his budget director, Benjamin Barnes, have been critical for several years of the deficit-forecasting methodology used by the legislature’s nonpartisan Office of Fiscal Analysis.

OFA generally tries to assess both the current and future costs of all programs, staffing, grants and other expenditures, whether fixed by contract or federal requirement, or simply set by state law.

The new methodology would disregard cost increases in most state programs, excepting debt service, retirement benefits and federal entitlement programs.

“Moving away from ‘current services’ will help us ensure that government does not continue to increase spending on autopilot,” the governor said Wednesday.  “As part the budget agreement, the state will change how it does business, and give residents and businesses the predictability they seek as government works to live within its means.”

The language is nothing but a blatant effort by Malloy and the Democratic legislature to hide the true costs of maintaining state services and preventing voters from understanding the ramifications of taxes and spending.

Dismissing the most fundamental notions of open government and democracy, Malloy and the Democratic leaders are engaged in a new political strategy based on keeping the citizens ignorant about how their government functions and how it spends their money.

No real Democrat would vote for such a measure.

Today’s original Wait, What? post is even more relevant than when it was first posted.

Any CT legislator who votes for the proposed State Budget deserves to lose in November

Any CT legislator who votes for the proposed State Budget deserves to lose in November

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There are times when an elected official is faced with a choice between doing what is right and doing what is politically expedient in an effort to get along to go along.  The vote on the proposed state budget agreement between Governor Dannel Malloy and the Democratic leadership of the General Assembly is just such a vote.

Their proposed budget is a fiscally irresponsible and mean-spirited farce.

It is a budget that relies on record cuts to vital services and public education and unfairly dumps Connecticut’s fiscal programs on the backs of our most vulnerable citizens and our children.

The proposed budget coddles the rich and claims to limit tax increases, yet will force cities and towns across Connecticut to raise local property taxes on the state’s middle class.

And for what it is worth, the proposed budget does not even balance.

After using one-time revenue, diverting public funds from their intended purposes, borrowing to pay operating costs, and laying off thousands of public employees, this sham of a budget will be out of balance by at least $100 million dollars the day it is signed into law.

Not to mention the damage this budget will do our local public schools and to the people who need and deserve the health and human services that allow them to live more productive and fulfilling lives.

Governor Dannel Malloy is wrong when he says it is a good budget and he is lying when he says it is fiscally responsible.

The Democratic leaders of the Connecticut General Assembly who negotiated this terrible “compromise” plan are wrong when they say it is a good budget and they are lying when they say it is fiscally responsible.

And the business executives who are lobbying Connecticut legislators to vote yes on this disastrous plan are throwing the state’s citizens, including our small business owners who generate the vast majority of jobs, under the bus.

Instead of patting themselves on the back, Connecticut’s elected officials should be throwing out  this piece of crap budget and get to work putting together a budget that is fair, honest and fiscally responsible.

Any legislator who votes for the Malloy/Democratic Leadership plan should be defeated in this November’s election and replaced with someone who is capable of standing up and doing the right thing for the people of Connecticut.

Malloy/Democratic budget – Push costs onto local property taxpayers and call it structural change

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Although Governor Dannel Malloy, Lt. Governor Nancy Wyman and the Democratic leaders in the legislature have still not released all the details about the “Malloy/Democratic Compromise Budget,” the General Assembly is expected to vote on the spending plan as early as tomorrow – Thursday, May 12, 2016.

Clinging to his inaccurate claim that his budget doesn’t raise taxes, one of the small details associated with Malloy’s irresponsible approach to managing state government became apparent yesterday as the CT Newsjunkie and The Day newspaper of New London reported that the Connecticut Chief Medical Examiner Office will stop, “its longstanding practice of performing toxicology tests for most sudden deaths.

The Malloy/Wyman solution – just have local towns pay the costs.

As The Day reported,

Dr. James Gill told reporters Monday that an impending 5.75 percent cut to the office’s approximately 6.2 million budget, which included two layoffs and is the latest in a series of budget cuts at the state level, means that, beginning June 1, the office will stop its toxicology work in relation to homicides, motor vehicle deaths and most suicides.

The office still will make the corresponding blood samples available to police, Gill said, but it will be up to police to seek out private toxicology testing — something that can cost almost $200 per test.

In addition, the Day explained that the State’s Chief Medical Examiner announced that the office itself could lose its accreditation from the National Association of Medical Examiners this summer due to the budget cuts and layoffs that are part of the Malloy/Democratic compromise budget.

“When an official with the association visited Connecticut last year for the office’s annual review, she noted that the office’s seven autopsy pathologists were on track to perform 325 autopsies each that year — a number that, if exceeded, would cause the office to lose its full accreditation.

In the past almost two years, the office’s autopsy numbers have increased 58 percent — from 1,488 to 2,357 — stretching employees thin and leading to a projected budget shortfall of $456,000 for this fiscal year.

The official recommended adding an eighth medical examiner to the staff, noting that Gill already has taken on a full case load in addition to his administrative duties.

“Loss of accreditation means that an office cannot meet the minimal standards of practice for death investigation,” Gill explained in a March meeting with the state legislative Appropriations Committee. “Mistakes by a medical examiner put people’s lives at risk, can result in the innocent (being) imprisoned and cost millions of dollars in civil claims.”

In the fall last year, he told the committee, the office proposed reorganizational and hiring plans that “would have saved the office money,” but couldn’t be fully implemented because of the hiring freeze in place at the time.

The Team Malloy solution…

State expenses shifted to local taxpayers

Larger budget deficits due to the required use of more overtime.

Or as Malloy calls it – “structural change.”

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