Heatherly hits Moore again

It's safe to say that Charles Heatherly is not a fan of Richard Moore.

In a guest column in the Durham Herald-Sun Saturday, the former deputy state treasurer questioned the Democratic gubernatorial candidate's handling of the state pension fund.

"Despite Moore's frequent claims that North Carolina's pension trust fund is the second best funded in the nation, there is evidence that this claim may be overly optimistic," he writes.

It is not the first time Heatherly, who retired in 2001, has raised questions about Moore.

* In an Oct. 14, 2002, guest column in the N&O, he argued that the pension fund is not "sound" and attributed gains to Moore's predecessor, Harlan Boyles.

* In a Jan. 9, 2004, guest column in the N&O, he called Moore's TV ads for the state's unclaimed property fund "thinly disguised political ads."

* In a March 3, 2006, guest column in the N&O, he criticized Moore's political fundraising and called reports on the pension fund "overly optimistic."

He's also been quoted on those issues in several news articles.

Study: Most state treasurers elected

While the schools superintendent may be in the minority, most states elect the treasurer.

According to the National Association of State Treasurers, 37 states, including California, Florida and South Carolina, elect their treasurers. Almost all serve four-year terms, with the exception of Tennessee and Vermont, where they serve two years.

In the other 13 states, treasurers are appointed, usually by the governor or state legislature.

North Carolina is one of 22 states that do not limit the treasurer's number of terms.

John Haywood was the longest-serving treasurer in state history. Haywood served for 40 years until his death in 1827. Harlan Boyles, who left office in 2000, served for 24 years.

After two terms, current treasurer Richard Moore is running for governor.

What does the state treasurer do?

Answer:

Manages the state's investments, administers budget funds and chairs the N.C. Banking Commission.

As the state's chief financial officer, the treasurer manages more than $75 billion in state funds and administers the General Fund, Highway Fund, and Highway Trust Fund.

The treasurer also administers a number of state investment programs, including retirement, pension and worker's compensation.

In addition, the treasurer serves on the State Board of Education, the N.C. Board of Community Colleges and the boards for the state's public employee retirement systems. The treasurer works with the state's 401(k) and 457 plans offered to public employees.

The treasurer is one of 10 elected members of the Council of State, which oversees spending of tax dollars and conducts business on behalf of state government. In 2008, the treasurer had an annual budget of $38.5 million, 323 employees and a $123,198 annual salary.

North Carolina is one of 36 states that elect treasurers by popular vote, and 22 states that do not have term limits for the office.

John Haywood was the longest-serving treasurer in state history. Haywood served for 40 years until his death in 1827. Harlan Boyles, who left office in 2000, served for 24 years.

Boyles' successor, Richard Moore, expanded the unofficial role of the treasurer, using the state's shares in major companies to push for changes in corporate governance. He later ran unsuccessfully for the Democratic gubernatorial nomination.

Elected in 2008, Janet Cowell is the first female state treasurer in North Carolina. 

Brief:
Manages the state's investments, administers budget funds and chairs the N.C. Banking Commission.

Another shot for Weisel?

Michael Weisel is considering running for treasurer next year.

The Raleigh attorney, who ran for state treasurer a decade ago, Weisel, 49, said he is talking with past supporters and family members about seeking the Democratic nomination for the seat now held by Treasurer Richard Moore, Rob Christensen reports.

Moore is running for the Democratic nomination for governor.

In 1996, Weisel mounted an unsuccessful challenge in the Democratic primary against long-time State Treasurer Harlan Boyles. Weisel had entered the race after Boyles had announced his retirement, only to see Boyles change his mind and run.

Weisel has a background in finance, having worked as an executive and porfolio mananger for Kemper Financial Services and Wells Fargo Bank among others.

He is also well known in Democratic circles having served as Wake County Democratic chairman. Last year, Weisel worked as a legislative counsel to House Speaker Pro Tem Richard Morgan, a Moore County Republican. He also handled an election complaint brought by Morgan by former state Rep. Art Pope, who was involved in a political committee that financed ads that helped defeat Morgan.

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