Comments for Controltec - Software for Subsidized Child Care and e-Childcare http://controltec.biz Systems and Software for Human Services Agencies Sat, 14 Apr 2012 12:46:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Unionization of Childcare Providers by Robbie http://controltec.biz/blog/news/unionization-of-childcare-providers/#comment-270 Robbie Sat, 14 Apr 2012 12:46:02 +0000 http://controltec.biz/?p=484#comment-270 Teachers in the Hoosier State recently realned that the Indiana State Teachers Association’s (ISTA’s) Insurance Trust has effectively gone bankrupt. Regulators revealed that the trust, which pays benefits for disabled teachers, owes $86 million in liabilities and has only $19 million in assets. The FBI has begun investigating. Much of the portfolio’s value apparently vanished in high-risk investments. The investment broker managing the trust made 4,000 trades over a nine-month period, perhaps motivated by the 50 percent hike in commissions on trades that ISTA’s executive director, Warren Williams, authorized. As investigators sort out responsibility, school districts and the state government are examining what the fund’s shortfall will mean for teachers and taxpayers, who could be on the hook for a bailout to ensure that teachers are insured. Williams has resigned, and the National Education Association announced that it has taken over the Indiana State Teachers Association. The insurance-fund crisis demonstrates the importance of transparency. Union members deserve to know how their unions spend their money so they can hold the unions accountable. As insurance commissioner Dan Clark argued: “They need to open their books. We don’t think ISTA membership is aware of how serious this situation is, and we don’t even know how well-informed their board is.”Sunlight protects against corruption and unethical practices. Congress passed the Labor Management Reporting and Disclosure Act (LMRDA) in the wake of scandals in the 1950s involving ties between organized labor and organized crime. Congress believed that workers had a right to know how their unions spent their dues. Lawmakers hoped that transparency would discourage kickbacks to the mob. Teachers in the Hoosier State recently realned that the Indiana State Teachers Association’s (ISTA’s) Insurance Trust has effectively gone bankrupt. Regulators revealed that the trust, which pays benefits for disabled teachers, owes $86 million in liabilities and has only $19 million in assets. The FBI has begun investigating. Much of the portfolio’s value apparently vanished in high-risk investments. The investment broker managing the trust made 4,000 trades over a nine-month period, perhaps motivated by the 50 percent hike in commissions on trades that ISTA’s executive director, Warren Williams, authorized. As investigators sort out responsibility, school districts and the state government are examining what the fund’s shortfall will mean for teachers and taxpayers, who could be on the hook for a bailout to ensure that teachers are insured. Williams has resigned, and the National Education Association announced that it has taken over the Indiana State Teachers Association. The insurance-fund crisis demonstrates the importance of transparency. Union members deserve to know how their unions spend their money so they can hold the unions accountable. As insurance commissioner Dan Clark argued: “They need to open their books. We don’t think ISTA membership is aware of how serious this situation is, and we don’t even know how well-informed their board is.”Sunlight protects against corruption and unethical practices. Congress passed the Labor Management Reporting and Disclosure Act (LMRDA) in the wake of scandals in the 1950s involving ties between organized labor and organized crime. Congress believed that workers had a right to know how their unions spent their dues. Lawmakers hoped that transparency would discourage kickbacks to the mob.

]]> Comment on Another Look at Childcare Subsidy by Norbert Haupt http://controltec.biz/blog/news/another-look-at-childcare-subsidy/#comment-268 Norbert Haupt Sat, 14 Apr 2012 09:39:58 +0000 http://controltec.biz/?p=504#comment-268 Thanks, Paul. The "trigger" for the thought was news out of Missouri, hence the reference. Yes. California must be next. Thanks, Paul. The “trigger” for the thought was news out of Missouri, hence the reference. Yes. California must be next.

]]> Comment on Another Look at Childcare Subsidy by Paul Miller http://controltec.biz/blog/news/another-look-at-childcare-subsidy/#comment-266 Paul Miller Fri, 13 Apr 2012 17:59:19 +0000 http://controltec.biz/?p=504#comment-266 Norbert, Thank you for a well written article. Hope you can do another with statistics from California? best Paul Miller Norbert,
Thank you for a well written article. Hope you can do another with statistics from California?

best

Paul Miller

]]> Comment on Best of New York Award by Controltec’s Project Won “Best of New York” « Norbert Haupt http://controltec.biz/blog/news/best-of-new-york-award/#comment-4 Controltec’s Project Won “Best of New York” « Norbert Haupt Thu, 15 Sep 2011 17:10:23 +0000 http://controltec.biz/?p=282#comment-4 [...]  Read about it here.  [...] [...]  Read about it here.  [...]

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