IPERS CEO Donna Mueller

Officials with the Iowa Public Employees Retirement System (IPERS) attempted to ease concerns this week about its $339-million investment with Westridge Capital Management that's been frozen during the investigation of Westridge owners Paul Greenwood and Stephen Walsh for securities fraud.

Donna Mueller, IPERS' chief executive officer, told the legislature's joint Government Oversight Committee that the frozen assets represent just 2 percent of the pension fund that serves about 300,000 current and former employees in state government, cities, counties and school districts.

"We're going to aggressively pursue every last dollar," Mueller said. "We maintain an additional cash balance so that we do not have to unnecessarily cash out investments. We are managing cash so we have a cash reserve to pay monthly benefits. It's only 2 percent, so we have other assets that are available to manage and to pay benefits. A greater concern, almost, is what's happening in the economy and impacting the entire portfolio."

Mike QuigleyCan the votes of a handful of Chicago and Cook County residents change Illinois? We are about to find out.

Winning 22 percent of the vote is not usually considered an overwhelming mandate, but winners write the history books. And Democrat Mike Quigley's congressional-primary victory last week is already being touted as an occasion worthy of at least a chapter.

Cook County Commissioner Quigley defeated 11 candidates, including two state legislators, to win the Fifth Congressional District special primary election last Tuesday with 12,100 votes. His smart, well-managed campaign was vastly outspent by his top two opponents.

Quigley successfully tapped into rising voter anger in the wake of Rod Blagojevich's arrest, Roland Burris' U.S. Senate appointment and, most importantly, Cook County Board President Todd Stroger's tax hikes and innumerable missteps.

Mayor Gluba:

I'm a Ron Paul supporter and a member of Opt4Better, which opposed the
Davenport Promise program.

I take issue with your comments. I am not opposed to city, county, state, or
national government. I am opposed to government that oversteps its
constitutional limits and violates its charter. I'm certainly not opposed to
progress.

But a program that takes from one and distributes it to another is not
progress.

Please don't disparage Ron Paul supporters. Dr. Paul's campaign was the only
one that demonstrated any honesty. And if you noticed, virtually all of his
predictions and warnings are happening before our eyes.

I hope he runs in 2012. I can only speculate what our country will look like
then. If we still have one.

Mike Angelos
Davenport



The Davenport Promise Referendum was defeated by voters 61% to 39% at the polls, Tuesday March 3, 2009.

The Promise program was modeled after the pilot program started in Kalamazoo, MI. Organizers wished to reallcoate 30% of the Local Option Sales Tax (LOST) from the capital improvements fund to a new scholarship fund as an economic incentive for families to move to Davenport. The fund would be used to pay for up to $20K in college tuition for students that lived in Davenport and went to high-school in Davenport 9-12 grades.

The program in Kalamzoo was funded by private donations. The Davenport Promise, as proposed, would have been funded by a portion of the LOST.



Opponents of the Davenport Promise rallied around a new PAC formed by Mark Nelson, called Opt4Better. Opt4Better produced detailed financial analysis refuting the proponents proposed benefits. Opt4Better hosted several news conferences, launched a website www.nomorepromises.com, produced a slide show, recorded presentations, and engaged in a Quad City Times sponsored debate. The over arching theme of Opt4Better's counter campaign was that the proponents over estimated the benefits and underestimated the risks to taxpayers.

The Opt4Better volunteers gathered at downtown Dvenport's Front Street Brewery to watch the election returns. KWQC's Erika Cervantes interviewed Mark Nelson live for the 10 o'clock news cycle.

 



Over one hundred volunteers turned out from 3-8 pm at the QCCA Expo Center in Rock Island, IL Tuesday March 3, 2009 to help prepare sapling oak and pecan trees to be distributed and planted throughout six states this spring.

The effort is part of Living Lands and Waters 1 Million Trees Project started in the fall of 2007, with goal of growing 1 million trees in the next 5 -10 years.

Education Coordinator, Tammy Becker, stated, "The main motivation behind this effort was to plant trees to create a food source for wildlife. Because over the years we've lost a lot of our hardwoods that produce nuts and fruits. Trees also help clean the air we breathe and when planted near water they help reduce erosion and clean the water before it hits the waterway."



These trees were grown from seeds at a LLW nursery in Beardstown, IL and included six varieties of Oak and one Pecan tree.

According to Programs Coordinator Denise Mitten, organizers and volunteers were working on bagging and sorting close to 100,000 trees over two days.
Volunteer efforts continue on Wednesday March 4 from 3 to 8 p.m. and organizers say the advance volunteer call ins for Wednesday's second shift are not as full as they would like.

Volunteers can show up to the QCCA Expo Center at 2621 4th Ave., Rock Island, IL or call 309-236-6279. More info can be found at www.livinglandsandwaters.org

The Quad-City Times' management, most especially the disgraced editors, get to evaluate whether their decision to smear local appraiser Mark Nelson was worth what it has cost them -- the last vestige of credibility they had in the community as reliable news providers. In what it tried to pass as a news story in its print edition on Tuesday, March 3, the Times disparaged Nelson with myriad unsubstantiated claims about an alleged cover letter he sent with an appraisal that discouraged Royal Banks of Missouri from approving a loan to Amy and Amrit Gill of Restoration St. Louis for the redevelopment of the Blackhawk Hotel as a boutique hotel.

Editor's note: This letter was submitted in response to the article "Blackhawk Hotel project threatened by critical report," by Tory Brecht.

An open letter to Quad-City Times readers and fellow Lee Enterprises shareholders.

Tory, I read your article with some degree of skepticism this morning. On March 10, Lee Enterprises, the owner of this newspaper, has their annual shareholder meeting; in the past year their stock has tumbled from almost $20 per share to 24 cents at the low. (38 cents as I write this.) I am not only a subscriber but a shareholder. Apparently the newspaper industry and now you have been oblivious to the traction radio commentator Rush Limbaugh has gotten with his "Drive-by Media" characterization. It is sticking no matter how you folks in the media protest. And it is sticking because you allow your personal opinions and the opinions of the editors to creep into your reporting. The only thing you folks have to offer is credibility, and unfortunately your piece in today's "noospaper," as Bill Wundrum frequently refers, does little to lend credibility to this newspaper or you as a reporter.

John Vincent Atanasoff Book

 

March 2, 2009 Kirwan Cox and a crew from EyeSteel Films (www.eyesteelfilms.com) visited Hunter's Club in downtown Rock Island, Illinois. The Canadians were here to film a portion of a documentary they are producing for the Canadian version of History Channel about John Vincent Atanasoff. Atanasoff testified in the seminal 1970's Rand Sperry patent trial over the rights to the fundamental elements of modern computing. Atanasoff, a mathematician professor from Iowa State in Ames testified that he conceived of the four principles of the modern calculator as it was known at the time.

Here are the ABCs of the Davenport Promise.

A. Promise is a scheme to take city taxpayer money from improving Davenport streets, sewers, and other infrastructure and use it to try to attract residents with children to bolster enrollment in Davenport schools.

B. The Upjohn study funded by Promise backers says the likelihood of the plan working as hoped has "a high level of uncertainty." Those are fancy words for "don't hold your breath."

C. The plan contains no commitment by Davenport schools to improve graduation rates and student academic performance, measures currently below neighboring Iowa districts. It divides students within the district between Davenporters who are eligible for scholarship help and those in the district but outside the city who are not eligible. That doesn't sound right.

Summary: A. Unwise, B. Unlikely, C. Unfair.

Vote "No" for the Davenport Promise referendum March 3.

Keith Meyer

Davenport

The Quad-City Times endorses the Promise program in Sunday's edition. "Put Faith in Davenport's Kids" is the editorial's title. One commenter noted that this endorsement was from the "Staff" and not the "Editorial Board," suggesting dissent between the staff and board.
The Times' all-percieved-growth-at-any-cost/risk-if-it's-taxpayer-funded record is consistent here. They admonish opponents who spent too much time on spreadsheets.  "Astute analysts have poked and prodded Promise to assert it cannot pay for itself. That's a standard we've not applied to other government functions and won't apply to this one." This comment brings into focus the proponents' acceptance that providing for one's college education should be a municipal "government function."

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