SC

About That SC Pension Fund Position …

WE CALLED IT …  As this website exclusively reported last week, former S.C. Senate staffer Michael Hitchcock was indeed hired this week as the new executive director of the state’s multi-billion dollar pension fund. The position was not opened to the public.  It was not advertised.  No other names were…

WE CALLED IT … 

As this website exclusively reported last week, former S.C. Senate staffer Michael Hitchcock was indeed hired this week as the new executive director of the state’s multi-billion dollar pension fund.

The position was not opened to the public.  It was not advertised.  No other names were presented to the members of the board for consideration.

Badda boom, badda bing …

Hitchcock’s starting salary is $230,000 – not counting bonuses or benefits.  He has no financial background, yet this government lawyer will now be in charge of the state’s $29 billion investment fund.

What could possible go wrong, right?

Voting against Hitchcock’s appointment? S.C. Treasurer (and investment panel watchdog) Curtis Loftis and Allen Gillespie, the appointee of S.C. House Ways and Means committee chairman Brian White.

Voting for Hitchcock?  S.C. Gov. Nikki Haley‘s appointee Ed Giobbe, Senate president Hugh Leatherman‘s appointee Reynolds Williams and S.C. Comptroller General Richard Eckstrom‘s appointee  Rebecca Gunnlaugsson.

All three are “Republicans.”

Frankly, opponents of Eckstrom and Haley ought to be calling out this sort of cronyism.   Seriously … this fund pays out the highest fees in the country – yet produces some of the nation’s lowest returns.  It’s also corrupt as hell.  Yet we let its leaders secretly select a manager with no experience and pay him a quarter of a million dollars a year?

Sheesh …

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34 comments

Philip Branton August 26, 2014 at 1:17 am

Wil…………..

SO you write this and what do you get in return…?

YOU……IDIOT…!!

Did you request any of your readers to do ANYTHING…!? Furthermore, would you know WHAT to tell them to do..!?

Ya know, Mr. Folks………what good is information if you do NOT know how to use it..!!?

You do know that I am seeing an ad for CRUDE ENERGY on this website..!? Do you not…!?

Wil, what would someone at Langley be thinking while looking at YOU while I look at them…!? Would they look at an “equation” via google very “crudely”..!?

Do you have a “Choice” with ad choices…?

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Philip Branton August 26, 2014 at 1:31 am

So Mike gets paid far MORE than Sarah….!?!

Well, Mr. Folks, what does Liz Gunn think about that..!? What questions would she confront Nikki Haley about…!?

What kind of discrimination is that…!?

How should Liz Gunn start a class action lawsuit on behalf of SC taxpayers based upon this discriminatory example…!?

Heck, how should this be used against Lindsey Graham and Tim Scott and Jim Clyburn to defeat all three…!?

Wonder how many SCSU Board Members would like to be on a Jury…!?

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Jackson August 26, 2014 at 6:20 am

It would’ve been ok with Loftis had the RSiC done as he does; post the job, conduct a few FAKE interviews, and then hire who you had planned to hire from the beginning, (ex: Bill Leidinger $112,000, Clarissa Adams $120,0000 Danniel Brennen $55,000, etc., etc., etc.). Hand picked, but hey, at least they went through the process to try to make it look ok on paper. Still not ok in reality.

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Matt August 26, 2014 at 6:47 am

Must be a slow week on fits for 3 Loftis related “news”, I mean advertisement, stories to be posted.

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Wowzers August 26, 2014 at 7:16 am

Loftis just can’t help himself. He hasn’t gotten any media attention lately so now there are three articles in 4 days on here. Doesn’t he have actual work to do?

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Wilson August 26, 2014 at 7:19 am

Same old, same old. Time to move along

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Eric August 26, 2014 at 7:46 am

Investment Commission is a sewer. Drain it, start over.

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Andy August 26, 2014 at 7:55 am

You can bet this is payback to another leatherman/Haley cronie!
I just wonder what the payback is for? And what about Ryberg and Varant?
Drain this swamo before it’s too late and the fund is comprimised!

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Outsider August 26, 2014 at 7:59 am

Political insiders getting jobs that pay $230,000 a year without competition or public notice.
Damn it must be nice to be an insider.

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us vs. them August 26, 2014 at 8:00 am

Thank you for your 2 cents Treasurer Loftis.

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Ha Ha! August 26, 2014 at 10:52 am

The truth hurts doesn’t it?

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Inciteful August 26, 2014 at 9:59 pm

Kinda like Glenn McOonnell!?!

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James August 26, 2014 at 8:12 am

This is a slap in the face of government employees and retires everywhere.

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Jackie Chiles August 26, 2014 at 8:15 am

Even the advertised government gigs have internal candidates selected 99% of the time. The “advertisement” and subsequent interviews are just a sham to comply with the law.

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Marie August 26, 2014 at 8:18 am

Sometimes, but ethical people often honor the process. I moved here from up north and ALL jobs are closed jobs. The unions control it.
In SC I found a good job and fair pay at an agency and I love it.

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Jackie Chiles August 26, 2014 at 8:38 am

You should play the lottery.

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History repeats itself August 26, 2014 at 8:42 am

The carpetbagger moved down to suck some SC gov’t teat, how quaint.

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RogueElephant August 26, 2014 at 10:06 am

Welcome to SC. While not perfect it is a lot better than most places. Enjoy.

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Edgar August 26, 2014 at 9:15 am

Hugh Leatherman and Reynolds Williams are “Republicans.” Hahahahahahahahahahahahahahahahahahaha!!!!!!

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RogueElephant August 26, 2014 at 10:09 am

“Republican” is only part of the story. The rest is : “in name only” RINO. These are some of the old moss back Dims that need to be cleaned out of our party.

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Steve August 26, 2014 at 12:04 pm

And yet you have stated on this site you intend to vote for Haley. Your critical thinking skills need some work.

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RogueElephant August 26, 2014 at 12:20 pm

The critical thinking part is Ok. It is the list of choices available that is the problem. Like I have said many times: It’s not that Haley is that great but the alternatives are that bad.

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Edgar August 26, 2014 at 12:59 pm

Agreed.

Steve August 26, 2014 at 7:36 pm

and if dolts like yourself will blindly vote for her simply because she has an “R” next to her name things will never get any better. Considering her numerous failures,including the hacking of all our SS#’s and the mess at DSS, I seriously doubt any of the other 3 candidates could do any worse.

Is it not obvious to anyone else that she could seem to care less about SC? I mean other that getting re-elected so she can use it as a stepping stone to the federal level?

RogueElephant August 26, 2014 at 10:17 am

I always thought that when we got all of the members of the B&CB Republicans things would be OK. I still feel that way except for different reasons. Curtis Loftis IS the ONLY Republican on the board. All this cronyism is Dims with a new letter (R). The swamp doesn’t need to be drained with a shovel. It needs to be drained with a track hoe.

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Rocky lookin' for Sandi August 26, 2014 at 12:24 pm

Funny no word from Sandi – storys that might include those things like numbers – must scare her off. She probably throught it was a story about accounting. But then again, I think we all know Sandi is actually Nikki’s old college roommate and lesbian lover. Ethnically, spell Sandi backwards you get Idnas – which is the Hindu goddess of rice.

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Gypsee August 26, 2014 at 12:47 pm

Chill. It’s only an $88K raise for Hitchcock. He was obviously undervalued at the Senate.

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Ellen August 26, 2014 at 12:50 pm

hahahah…great!
A lawyer with no finance experience. There are some terrific financial guys in Cola who would love to cap their careers, or come out of early retirement, to take that job.
Politics…to the victors go the spoils and to the rest of us go the bills!

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How Stupid They Are August 26, 2014 at 2:44 pm

Some of them are black citizens, too.

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Judgment Day Cometh August 26, 2014 at 2:29 pm

Coming soon, Class Action Civil Suit with alleged criminal wrong doing by these cockroaches in suits. In The US District Court ……. Citizens of South Carolina vs.??????

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Hypocrites everywhere August 26, 2014 at 11:17 pm

Curtis should be held accountable for leaking confidential information to fits.

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Accountability August 27, 2014 at 7:42 am

Curtis’s staff should be held accountable for the false accusations they are making about him on here. Seems some people don’t like change if it involves holding people accountable to the taxpayer.

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Old Friend August 27, 2014 at 10:23 am

Curt’s staff is not making allegations on Fits.

There are 2 or 3 people that are close to the Investment commission, and they are surrogates of Reynolds Williams. Over Curt’s term they have typed hundreds of posts using various names. Their vulgarity and meanness is clear for everyone to see.

These defaming and indecent post are windows to the soul of Mr. Williams and the Commission and those windows give a pitiful view.

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Danger Will Robinson August 26, 2014 at 2:42 pm

Qualified Handicapped and Qualified African Americans. And they did not give them a chance at this over paid government job.

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