Duke Snider’s Speech to the STRS Board 11/17/05

Good afternoon, I'm Duke Snider from southern Ohio. You know, one of those malcontents.

First of all, if you can't hear me, please raise your hand. I think there have been many times you may have been hearing, but not listening. I am saddened by the thought of having to address you, because of a new board. I believe the only persons who have supported the retirees and active educators are Dr. Leone and Mr. Lazares. Are the remaining board members on the board because of status or is it because you truly want to be an asset and contribute to a once great retirement system? If it is not the latter, then the best thing to do would be to resign.

I am and have been on several boards. The reason for me being a member was to use my experience, skills and represent the people who placed me on that particular board.

If any of you object to me using your name, please indicate by raising your hand or nodding your head. I probably won't have time to address each of you, but you'll have your turn.

First, I want to address Dr. Brown. I was present the time you were addressing retirees about wanting to become a member on the STRS board. I asked you twice, “What would you do if you knew there were serious wrong actions going on at STRS?” You danced around the question both times. Dr. Dennis Leone wanted board members to answer retirees’ questions. You slapped Dr. Leone on the wrist indicating he was out of order. Hmmmmm. Now that was really serious. What have you done to follow 3307.15?

Secondly, Dr. Brown – is it true you were given time off at OSU so you could devote time to being president of the STRS board? Is this paid time off? Wouldn't this be a conflict of interest? If so, Dr. Brown, you should step down as board president immediately. No explanation is needed.

Thirdly, Dr. Brown – did you communicate to all the other board members that there was a recent Buck Consultant report before deciding to spend more money on another consultant report? Why didn't you inform the board members?

This is directed to all the board members. Did you take the time to read and study the Buck Consultant report? Why are you allowing noninvestment employees to run the show? You don't bite the hand that feeds you. The noninvestment employees have shown how loyal they are via law suit against you. If I'm not mistaken, they are at will employees and you needn't any reason to terminate them. Every one of them need to be terminated immediately. Who ever heard of paying bonuses for doing their jobs. Teachers never received bonuses for doing their jobs.

Dr. Asbury – are you going to change your mind and take the bonus?

Mr. Mitchell – why have you been continually investing in Fannie Mae?

Does STRS have checks and balances in order to assure retirees everything is being done for the wellbeing of STRS retirees and following 3307.15?