newsobserver.com projects - Cowell: Corporate governance helps pension - Comments

Re: FOLWELL:

ryanteaguebeckwith — Fri, 14 Dec 2007 19:50:19 -0500

Thanks for commenting. I think that saying you wouldn't do what Moore has done is the same thing as saying he shouldn't have done it, but that may be an oversimplification.

— RTB

Re: FOLWELL:

folwell — Fri, 14 Dec 2007 19:26:32 -0500

I agree with some of your points and have authored and passed a few pieces of legislation that offer conservative ,common sense solutions to these problems. I said that what Treasurer Moore does is his business. What I will do is know what I don't know and surround myself with people who do!
Rep.Dale Folwell Candidate for NC State Treasurer

Re: Cowell: Corporate governance helps pension

jjsmith2 — Fri, 14 Dec 2007 17:50:34 -0500

Rep. Folwell,

I must respectfully disagree with your statement that the Treasurer's office should not be involved in corporate governance. The first responsibility of corporations is to their investors, all of them. That includes all 8 million North Carolinians. Why should North Carolina invest money with companies that provide nothing back to North Carolina, or get rich at the expense of North Carolinians? Shouldn't we instead invest our money into companies and corporations that provide back to our communities, make North Carolina a better place, and operate ethically?

With corporate governance out of the picture, all we are left with is greed and cronyism. We have already seen that world and we do not need to return to it. How many more Enrons, Arthur Andersens, and WorldComs do there need to be? How many more manufacturing jobs do you need to see leave North Carolina and this country before you realize that socially responsible investment is required? Why should North Carolina's money be spent on multi-million dollar severance packages for corporate fat cats when, as of 2006, almost 22% of our State's children live in poverty?

It is true that our State Treasurer has an obligation to provide the best returns on North Carolina's investments, but that doesn't mean that the guiding moral values of this State be thrown out the window. We can increase our returns while making sure we invest our money in companies that care about the people they do business with. Our State Treasurer has a moral and ethical obligation to ensure that the companies we give our hard earned money to are ideal corporate citizens. The State Treasurer should be judged not only on the returns from the investments but who they conduct business with. Treasurer Moore should be applauded for demanding that the businesses we invest our money with are honest and responsible corporate citizens.

If you cannot do that job, then maybe you should find something else to do.

Re: Cowell: Corporate governance helps pension

Isaac136 — Fri, 14 Dec 2007 15:06:32 -0500

Senator Cowell, you need to jump in here.

The blip from the staffer sounded canned, and here you've got an opponent making his own appearance.

I would like to see you get your message across.

Isaac

Re: Cowell: Corporate governance helps pension

folwell — Fri, 14 Dec 2007 13:51:53 -0500

Ryan,
Earlier in the week you asked me about corporate governance in the Treasurer's office. I commented that I would do it differently by asking the 3 questions that the head of any State agency should ask. What are we doing well that we should do more of, what are we doing that we should stop doing and what are we not doing that maybe we should start if it benefits the taxpayers,beneficiaries and the future of NC? As your next State Treasurer,I would focus on the first and the third. How Treasurer Moore decides or has decided to allocate his time is his business. Rep. Dale Folwell
Republican Joint Caucus Leader-Candidate NC Treasurer

Re: Cowell is Right for Treasurer

Isaac136 — Fri, 14 Dec 2007 10:34:54 -0500

Is it just me or does this sound like something from a campaign desk?

Cowell is Right for Treasurer

djs0406 — Fri, 14 Dec 2007 10:27:56 -0500

I commend Sen. Cowell for the straight talk about our State's retirement system. We need to take a strong approach to managing our states investments, and I think having an enhanced state investment advisory committee is vital.

Cowell: Corporate governance helps pension

ryanteaguebeckwith — Fri, 14 Dec 2007 09:27:15 -0500

Janet Cowell says good corporate governance can help the state's pension fund.

The state senator, who is running for the Democratic nomination for treasurer, responded to comments made by Republican candidate Dale Folwell on Dome.

Folwell, a state representative, said current treasurer Richard Moore spends too much time calling for reform on Wall Street and should focus on the state's pension fund.

But in an e-mail to Dome, Cowell said that good corporate governance means that investors like North Carolina can find answers to tough questions about financial risk.

She also said studies have shown that companies with strong corporate governance practices also have stronger returns.

"Being a fiduciary of someone's retirement means not only delivering solid returns but also ensuring that necessary reforms are enacted to keep their retirement safe," she said in a statement.