Republican comptroller candidate highlights importance of race. Originally printed at http://www.wktv.com/news/local/Republican-comptroller-candidate-highlights-importance-of-race-275339531.html
By WKTV News
September 16, 2014 (WKTV) - Onondaga County Comptroller Bob Antonacci paid a visit to Utica on Tuesday. He is the Republican challenger for the state comptroller seat.
Antonacci acknowledges there's not much buzz or excitement about the race, which is bizarre, he says, considering the importance of the position that oversees the state pension fund.
The Republican says a goal of his would be to give local governments the tools they need to manage their finances efficiently and well, instead of coming in after the fact and cleaning up messes.
"We don't want to come in as the bad guy," he said. "We want to prevent the problems from happening. Anybody can catch the money once it's left the till. It's preventing the money from leaving the till that's the trick."
Antonacci says because he is the candidate from Upstate New York, he understands the circumstances that are special to Central New York.
He will face incumbent Thomas DiNapoli in November.
Contact: Brian Renna (315) 420-0039
FOR IMMEDIATE RELEASE September 16, 2014
Antonacci: DiNapoli Short on Details
Cites Vague Press Release on Goldman Sachs Partnership
SYRACUSE, NY - Republican State Comptroller candidate Bob Antonacci released the following statement after his opponent, Democrat Comptroller Tom DiNapoli, announced a new $2 billion strategic partnership between the New York State Common Retirement Fund (CRF) and Goldman Sachs Asset Management. Goldman and the CRF will invest the State's retirement fund in a diverse group of global equity strategies.
"My first question is: What does "strategic partnership" mean?" said Antonacci.
"If it's a contract, how has it been acquired? How will Goldman Sachs be compensated? Are there fees to be paid? If so, how are they determined? What exactly will the CRF, and by proxy the people of New York, get out of this deal?
"Remember, Tom DiNapoli was handpicked by Assembly Speaker Sheldon Silver to replace Alan Hevesi, who had to resign in disgrace. So, how much will this new "strategy" cost us, Mr. DiNapoli? Maybe we should just ask Shelly Silver."
DiNapoli's release goes on to claim that the partnership is "the first of its kind," as well as, "...designed to help strengthen the Fund as it provides benefits to New York's current and future public employee retirees." Antonacci's response: "Great. How?"
According to the most recent Financial Statements and Supplementary Information for the New York State and Local Retirement System, the CRF already pays out millions of dollars for investment advisory services, and that's on top of the millions spent in other fees.
"This is classic DiNapoli, relying too much on abstract concepts, while coming up short on the details," said Antonacci.
"I am a Certified Public Accountant and a lawyer and I can tell good information from complete and utter garbage. Mr. DiNapoli, your press release on a $2 billion Strategic Partnership for Global Equity Investments is absolute garbage. What are you trying to hide? If you think New Yorkers are going to be fooled by the incomprehensible language of your press releases, think again."
Bob Antonacci is the two-time elected Comptroller of Onondaga County, which has the highest credit rating in New York State.
Contact: Brian Renna
FOR IMMEDIATE RELEASE
September 12, 2014
Antonacci: DiNapoli Playing Politics with Retiree's Money
Cites Scathing Crains New York Op-Ed
SYRACUSE, NY - New York State Comptroller Tom DiNapoli is once again proving the Comptroller's office is no place for a professional politician by misusing the office to promote his liberal agenda on the backs of the New York State Retirees and their pension fund.
"When did it become acceptable for a leader to use the New York State Pension fund as a weapon against private business leaders to advance someone's narrow political agenda," questioned Comptroller Candidate Bob Antonacci, CPA. "There is no place for politics when is comes to securing the future of our state's retirees and Mr. DiNapoli should be ashamed of himself for using the fund in this way. The Comptroller should focus on making sound financial decisions which grow the fund to ensure it is there when those who earned it will need it most."
In an op-ed published on September 7, 2014 by Crain's New York, James R. Copeland laid out a rather scathing indictment of Mr. Dinapoli's "shareholder activism," policies. In his article he alludes to Mr. DiNapoli strategy of using threats to try and force shareholders into joining his liberal political cause.
This type of activism is risky and can have disastrous effects on the pension fund. Considered by Copeland to be a "ticking time bomb" set to detonate when the next bear market rolls around, it is this type of political finance planning that is likely to lead us to another financial crisis.
"New York needs to get the politics out of the Comptrollers office and replace it a professional who has the experience and credentials to get the job done right," said Antonacci.
"As a certified public accountant and attorney at law, I will always make the best decision for the retirees of this state when it comes to their future. I will not allow a political agenda to guide my office, because the people of New York deserve better - they deserve a qualified professional to steer the state away from financial crisis, not toward one."
Antonacci s the two-time elected Comptroller of Onondaga County, which has the highest credit rating in New York State.
Mr. Copeland's Crain's New York op-ed can be found here: http://www.crainsnewyork.com/article/20140907/OPINION/140909897#
Contact: Brian Renna
FOR IMMEDIATE RELEASE
September 10, 2014
ANTONACCI TO DiNAPOLI: COME CLEAN
State Comptroller candidate Bob Antonacci today called upon State Comptroller Thomas Dinapoli to release any and all contracts, documents and correspondence relating to the Office of the Attorney General and SKD Knickerbocker consultants.
"To me this is a no-brainer," Antonacci stated. "The State Comptroller's office should be about transparency. Hard-working taxpayers have a right to know how and where every dime of their money is being spent.
"The Comptroller and the Attorney General are both products of the Democrat machine in the State Legislature. They are two peas in a pod when it comes to toeing the party line.
"While it is disappointing that Tom Dinapoli is reluctant to take on his party, it is not surprising. After all, he aided and abetted his mentor, Shelly Silver, by approving questionable contracts to cover up Assemblyman Vito Lopez' sexual harassment scandal.
"As State Comptroller, I will be beholden to no one except the hard-working taxpayers of this state," Antonacci said.