Day: January 21, 2010

SEPTA Sues Goldman Sachs Over Pension Fund Performance

Well the shoe was eventually going to drop.

Concerns over the state of SEPTA’ s pension fund has caused it to sue Goldman Sachs Group Inc. regarding the way it was managed.

SEPTA is claiming Goldman Sachs pays it’s executives too much. SEPTA wants Goldman to make up the value in lost stock holdings.

The fund was worth $640 million at the time of September’s strike — down from $719 million in June 2008 but up from $471 million in March.

The suit was filed Tuesday in Delaware Chancery Court.

Wonder why SEPTA didn’t have a Pennsylvania-based firm manage the fund? What’s the moral difference between going to Delaware for a fund manager or going to Delaware for a bottle of wine?

Something to think about.

Welch Remains In 6th District Race

Venture capitalist Steve Welch said an interview Thursday that he will remain in the GOP primary race for the 6th Congressional seat despite incumbent Jim Gerlach’s late decision to seek re-election.

Kudos to GrassrootsPA.com for the tip.

Yuengling Sales Strong In Stormy Beer Sea

Yuengling Sales Strong In Stormy Beer Sea — D.G. Yuengling & Son is sailing strong in a stormy beer sea. While beer sales fell 2.2 percent last year, sales of Pottsville-based Yuengling  rose from 1,811 to 2,025 barrels or 11 percent.

Yuengling Sales Strong In Stormy Beer Sea

Quote Of The Day From Che

Youth must refrain from ungrateful questioning of governmental mandates. Instead, they must dedicate themselves to study, work and military service.
–Ernesto “Che” Guevara

Volpe To Discuss Pittsburgh VA Matter

Investigative journalist Michael Volpe will discuss the strange case of Anna Chacko and the Veterans Affairs Pittsburgh Health System, 8 tonight on Blog Talk Radio which can be heard live or afterwards at http://www.blogtalkradio.com/patriotaction/2010/01/22/patriot-action-live