Monday, August 20, 2012

Pension Grab

The Old Bum

We are throwing the bums out. I wonder if they will be replaced by other bums. 
Chancery Court Judge John Noble ruled last week in Delaware that the pension funds had sufficient cause to fire DV Urban Realty Advisors, which was formed by Obama’s friend and onetime employer Allison S. Davis and Daley nephew Robert G. Vanecko.
For the past six years, DV Urban has managed $68 million for pension funds representing Chicago teachers, police officers, other city employees and transit workers, investing government workers’ and retirees’ pension money in risky real estate deals that haven’t done well.
That was one of the reasons the pension funds cited in voting to fire DV Urban last February, when they also filed suit against DV Urban in Delaware, where the company was created.
DV Urban argued that the pension funds had no good reason to dump the firm and were bowing to pressure from members upset over “unwanted media attention” after a series of stories in the Chicago Sun-Times between 2007 and 2009 that exposed the deals involving the mayor’s nephew and reported how the investments were doing.

3 comments:

  1. Anonymous8/20/2012

    left chicago 13 yrs ago after working as a stationary eng in the schols living in ireland in the west and its fun to watch the narrow backs in chicago rob each other and cry about the niggers, cant complain tho the guy i bought my job through was good to the old country guys and still around in the old 19th ward hoping the federal govt, disent catch him.maybe when he and the others are caught they can tell the feds about their grannies from galway lol pathetic people

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  2. Anonymous8/20/2012

    Could some one translate the above comment?

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  3. Too many anti-Irish comments here. I deleted all of them. Post is closed.

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