Left In Alabama

Kay Ivey: Intent on Dissolving Alabama's PACT Program?

by: countrycat

Fri Mar 27, 2009 at 09:20:09 AM CDT


Alabama PACT - Kay Ivey dissolving it?Alabama Treasurer, Kay Ivey, says she wants to save the PACT program.  Why then, is she proposing legislation that gives the board the authority to dissolve it?

Her plan comes just two days after the board met, discussed options, and specifically rejected the option to dissolve PACT.  Oddly though, minutes after that vote was taken, Treasurer Ivey presented an outline of 4 changes to the program that she wanted to ask the Legislature to make.

#2 on her list was to give the board the authority to dissolve the PACT program.

Alabama Treasurer Kay IveyIn the video, you'll see where Ivey triumphantly announces that the PACT will not be dissolved, then moves into the legislative discussion.  Bradley Bryne calls her on the request for authority to dissolve PACT, saying that it's directly contrary to the previous vote.  She argues with him and tries to leave it in, but the board rejects her request.

Then, Ivey appoints a committee to deal with the legislature, consisting of herself, Lt. Governor Folsom, and Chancellor Bryne. The audience shouts out, asking for a parent to be appointed and Ivey brushes them off.  Then, a parent asks to help write the legislation and Ivey gives that woman the equivalent of a pat on the head before brushing her off.

Today, we learn from Huntsville Times reporter, Bob Lowry, that the draft legislation Ivey is shopping around still includes the authority to dissolve PACT.  Bryne doesn't like it:

But Byrne said he is concerned about language in Ivey's bill that could dissolve the PACT. She said that "would be a worst-case scenario."

It appears that Ivey's preferred scenario is the "worst case" option.  Or maybe she just wants to be able to use dissolution as a bargaining chip to force her real preferred option down the throats of the parents:  "Oh, you don't like what we're planning?  Guess we'll have to dissolve the PACT!"

Check out the video on the flip.

countrycat :: Kay Ivey: Intent on Dissolving Alabama's PACT Program?

It's almost 6 minutes, but time well spent to see for yourself how hostile Ivey is to parental input, involvement, and program transparency.

Kay, what about the word "NO" do you not understand?

 

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Don't know what Kay Ivey is thinking (4.00 / 1)

But there's no question she was hot to get that authority to dissolve the PACT program passed on Tuesday, and it looks like she's still after it.  Politically, this is shaping up as a Byrne/Ivey fight on the PACT Board because Byrne was/is having none of that proposal.

Maybe Ivey hopes to look good to fiscal conservatives with this strategy?



Work harder and work smarter!

HaveALittleTalk About Kay Ivey (4.00 / 2)

Goodness!  HaveALittleTalk knocks it out of the park AGAIN with this post on Kay Ivey.

This woman has been running around the country presenting herself as an expert financial matters, but now, is shocked, yes shocked that the PACT trust fund is half empty after a dramatic stock market collapse.

The amazing thing is that she and the board needed to be TOLD there was a problem in February.  What the heck was she thinking in January of this year when she was encouraging parents to sign up?

Read more about Kay Ivey: Then and Now.

Off to Jackson, MS now with a carload of teenage girls for a synagogue youth group event.  God help me.



I'm not short.  I'm fun size!!

I Agree (4.00 / 2)

That she's probably looking for a bargaining chip.

Don't overlook the possibility that she's trying to start a run on the program, so that she can say there's no way to save it and blame it on the poor ignorant people who didn't have any better sense than to take their money out.

Getting this authority and signalling that dissolution is a real possibility might do the trick. Also, it would allow the Legislature to blame the board and avoid all responsibility for not saving the program. 

I just put up a short post on this.

I just found out that Callan Associates paid $4.5 million to settle a lawsuit with the City of San Diego back in (i think) 2004. Seems they didn't disclose some money they received from a few investment managers for recommending them to handle one of the city's funds. At least, that's what I think happened. Isn't that interesting? Still looking to nail down details before I post on it, and of course, looking for the managers in question so I can compare them to havealittletalk's list.



It's more fun if you comment!

Can the Board be given the power to dissolve PACT? (4.00 / 1)
Better yet, does the Board already have the power to dissolve the PACT prorgram? The last thing this shrew of a woman, Kay Ivey, needs is any power to dissolve anything. She does not appear to care genuinely about the children, but cares more for her public persona, that is, she probably can't be governor now.

I need to watch countrycat's video (4.00 / 1)
But at the meeting it seemed like she was arguing that they did not have the power to dissolve the program -- and she saw that as a problem they needed to correct.

Work harder and work smarter!

[ Parent ]
That's the impression I got. (4.00 / 1)
That the board doesn't have the authority, but needed it "worst case."

I'm not short.  I'm fun size!!

[ Parent ]
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