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GoLocalProv | Business | Restoring State Pension Transparency In Rhode Island – Siedle

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GoLocalProv | Business | Restoring State Pension Transparency In Rhode Island – Siedle


Friday, August 12, 2022

 

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Ted Siedle, Wall Road’s greatest whistleblower

James Lathrop is a Republican candidate for State Treasurer within the state of Rhode Island—a state which has lengthy been dominated by Democrats. Most notably, Gina Raimondo, at present serving as U.S. Commerce Secretary, started her profession in politics as Rhode Island State Treasurer earlier than turning into Governor—supported by unprecedented out-of-state political contributions from Wall Road cash managers. Other than abandoning Raimondo’s disastrous hedge fund gamble, which price the $8 billion state pension over $500 million within the few 5 years, her successor, Seth Magaziner, has largely adopted Raimondo’s observe of opposing public entry to data relating to the state’s investments.

Lathrop drafted and signed a Pledge of Transparency dated July 15, 2022 that he’s difficult different candidates for the Treasurer’s place to signal:   

Rhode Island Normal Treasurer’s Pledge of Transparency  

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As candidates for RI State Treasurer, we consider that the religion and belief in our authorities and elected officers begins with a dedication to open and clear disclosures of the State’s investments and agreements with consultants and advisors of such belongings.  

Public pension funds have undergone vital adjustments in accountability, funding, construction, reporting and investing. The previous many years have seen public pension funds chasing increased returns, shifting from the standard investments in shares and bonds. Investments now embrace vital holdings in various investments, resembling hedge funds, personal fairness, and actual property.  

This sort of investing creates increased volatility and will increase the necessity for FULL transparency.  

Many say they consider in transparency and make pledges to be extra transparency, however we the undersigned, declare that we’re dedicated to FULL transparency and that’s outlined as follows:  

– All agreements with consultants and advisors will probably be made public and of their entirety.  

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– This can embrace charges, commitments of funds, restrictions of funds and the way belongings will probably be valued.  

– All investments will probably be recognized individually and reported as such.  

– Reporting will embrace price, worth, how valued, and share possession of the funding  

– We additional pledge that no investments will probably be held in offshore/Cayman Island accounts.  

Not shocking, so far, no different candidate has dedicated to Lathrop’s transparency pledge and I doubt any will.  The surest strategy to burn bridges with Wall Road donors is to advocate for the restoration of pension transparency.

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Says Lathrop, “Former Rhode Island State Treasurer and Governor Gina Raimondo again in 2013 ushered in an period of secrecy relating to the state pension’s investments that has continued by means of immediately. Given my background as a CPA, I firmly consider that transparency in monetary issues is important to construct belief and public scrutiny ensures accountability. Restoring transparency is likely one of the essential causes I made a decision to run for workplace. Raimondo and her hand-picked successor have eviscerated Rhode Island public data legal guidelines. It’s time to deliver skilled management again to the Treasurer’s workplace.” 

Edward Siedle has been referred to as “the Sam Spade of Cash Administration,” “the Monetary Watchdog,” “the Pension Detective” and “the Equalizer” for his work pioneering over $1 trillion in forensic investigations of the cash administration business.

The founding father of Benchmark Monetary Providers, he’s a former SEC legal professional who, in 2017, he secured the biggest SEC whistleblower award in historical past ($48 million) and in 2018, the biggest CFTC award in historical past ($30 million). He’s the co-author of the bestseller, Who Stole My Pension? (with Robert Kiyosaki, creator of Wealthy Dad, Poor Dad) and the creator of How To Steal a Lot of Cash–Legally. He’s an lively member of the Florida Bar.

 

 

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Rhode Island

Man fatally shot in Providence

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Man fatally shot in Providence


A 49-year-old man was shot to death in Providence, Rhode Island, Sunday evening.

Providence Police tell NBC10 Boston affiliate WJAR that the shooting occurred around 7:30 p.m. at 49 Monticello Street.

The victim, identified as Keith Singleton, was shot multiple times. He was rushed to Rhode Island Hospital, where he was pronounced dead.

There was no immediate word on a possible suspect, or any arrests.

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An investigation is ongoing.



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Rhode Island

Brown’s 17 lead Rhode Island over Charleston (SC) 91-53

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Brown’s 17 lead Rhode Island over Charleston (SC) 91-53


Associated Press

KINGSTON, R.I. (AP) — Javonte Brown had 17 points in Rhode Island’s 91-53 victory against Charleston (SC) on Sunday.

Brown added seven rebounds and four blocks for the Rams (5-0). Jamarques Lawrence shot 6 for 11, including 4 for 8 from beyond the arc to add 16 points. Sebastian Thomas shot 5 for 10 (3 for 6 from 3-point range) and 2 of 4 from the free-throw line to finish with 15 points.

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AJ Smith finished with 10 points for the Cougars (4-2). Derrin Boyd added nine points and four assists for Charleston (SC). Deywilk Tavarez also had nine points.

Rhode Island took the lead with 19:31 left in the first half and did not give it up. Brown led his team in scoring with 10 points in the first half to help put them up 45-16 at the break. Rhode Island outscored Charleston (SC) by nine points over the final half, while Lawrence led the way with a team-high eight second-half points.

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Both teams next play Wednesday. Rhode Island plays Detroit Mercy and Charleston (SC)plays Northern Kentucky at home.

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The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.




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Rhode Island

Attendance Matters: How well our schools are doing – What's Up Newp

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Attendance Matters: How well our schools are doing – What's Up Newp


Since the pandemic, student absenteeism has skyrocketed across the country, sending education departments and school districts searching for solutions. It is a priority with the Rhode Island Department of Education (RIDE) and every school district in the state. And, while results haven’t been dramatic, they are moving in the right direction.

Statewide, pre-pandemic absenteeism in Rhode Island schools was about 19 percent. It ballooned to more than 34 percent in 2021-22, dropping the following year to 28.9 percent, and in 2023-24 it was 24.7 percent. 

The same pattern is reflected in Aquidneck Island area schools. The Rhode Island Department of Education publishes a daily report on absenteeism for the more than 270 Rhode Island public schools, and certain patterns are clear. Wealthier communities have fewer absences, and it appears that greater absenteeism occurs in high and middle schools.

Newport Schools superintendent Colleen Burns Jermain says students in poorer communities face challenges of family responsibilies, housing and transportation issues. All three are recognized as significant issues nationally by Panorama Education, which says some students from “low-income families may need to stay home to care for younger siblings or work to support their families.”

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Chronic absenteeism national is defined as missing 10 percent of school days, or the equivalent of about two days. The consequences, says Panorama, range from health, dropout, social and behavioral, along with a negative impact on academics.

RIDE publishes a daily attendance tracker. Here’s a look at area schools, as reported in the November 25 attendance tracker, and listed by state rankings.

  • Howard Hathaway Elementary School, Portsmouth, with 412 students, ranked 25 with projected chronic absences of 31 (7.5 percent), a reduction of 2.9 percent from last year.
  • Melville Elementary School, Portsmouth, with 320 students, ranked 26 with projected chronic absences of 25 (7.8 percent), a reduction of 4.9 percent from last year.
  • Jamestown Middle School, with 189 students, ranked 36 with projected chronic absences of 31 (7.5 percent), a reduction of 2.9 percent from last year.
  • Portsmouth Middle School, with 607 students, ranked 42 with projected chronic absences of 58 (9.6 percent), a reduction of 2.9 percent from last year.
  • Aquidneck Elementary School, Middletown, with 302 students, ranked 44 with projected chronic absences of 29 (9.6 percent), a reduction of .3 percent from last year.
  • Wilbur and McMahon Elementary and Middle School, Little Compton, with 219 students, ranked 68 with projected chronic absences of 23 (10.5 percent), a reduction of 1.3 percent from last year.
  • Portsmouth High School, with 787 students, ranked 114 with projected chronic absences of 105 (13.3 percent), a reduction of 1.3 percent from last year.
  • Fort Barton Elementary School, Tiverton, with 133, students, ranked 98 with projected chronic absences of 16 (12 percent), an increase of .9 percent from last year.
  • Forest Avenue Elementary School, Middletown, with 300 students, ranked 112 with projected chronic absences of 40 (13.3 percent), a reduction of 1.6 percent from last year.
  • Tiverton High School, with 424 students, ranked 140 with projected chronic absences of 60 (14,2 percent), a reduction of 1.6 percent from last year.
  • Pocasset Elementary School, Tiverton with 31 students, ranked 150 with projected chronic absences of 31 (14.7 percent), a reduction of .4 percent from last year.
  • Gaudet Middle School, Middletown, with 434 students, ranked 181 with projected chronic absences of 31 (7.5 percent), an increase of .7 percent from last year.
  • Middletown High School, with 521students, ranked 209 with projected chronic absences of 107 (20.5 percent), an increase of 1.5 percent from last year.
  • Claiborne Pell Elementary School, Newport, with 662 students, ranked 221, with projected chronic absences of 147 (22.2 percent), a reduction of 2.4 percent from last year.
  • Frank E. Thompson Middle School, Newport, with 495 students, ranked 225 with projected chronic absences of 115 (23.2 percent), an increase of .6 percent from last year.
  • Tiverton Middle School, with 500 students, ranked 234 with projected chronic absences of 119 (23.8 percent), an increase of 11.3 percent from last year.
  • Rogers High School, Newport, with 600 students, ranked 246 with projected chronic absences of 183 (30.5 percent), a reduction of 5.7 percent from last year.

Frank Prosnitz brings to WhatsUpNewp several years in journalism, including 10 as editor of the Providence (RI) Business News and 14 years as a reporter and bureau manager at the Providence (RI) Journal. Prosnitz began his journalism career as a sportswriter at the Asbury Park (NJ) Press, moving to The News Tribune (Woodbridge, NJ), before joining the Providence Journal. Prosnitz hosts the Morning Show on WLBQ radio (Westerly), 7 a.m. to 9 a.m. Monday through Friday, and It’s Your Business, also on WBLQ, Monday and Tuesday, 9 a.m. to 10 a.m.

Prosnitz has twice won Best in Business Awards from the national Society of American Business Editors and Writers (SABEW), twice was named Media Advocate of the Year by the Small Business Administration, won an investigative reporter’s award from the New England Press Association, and newswriting award from the Rhode Island Press Association.

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