Former California State Fund President Earned $1.6 Million

March 24, 2010

  • March 24, 2010 at 2:42 am
    Tom says:
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    Come on, guys. You want to hire someone to run a billion dollar enterprise, but expect to pay them like a mail room clerk? Get real – you have to pay for the expertise you’re looking for.

    Now, the moving allowance when she never moved might be something else, but the salary and perks are probably in line for a position like this.

    Instead of issuing voter-friendly after-the-fact sound bites and feigning shock, perhaps the governing board can retain a qualified compensation consultant and set salary ranges and take care of this before it ever causes a problem.

  • March 24, 2010 at 3:18 am
    And when they find out says:
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    “State Insurance Commissioner Steve Poizner, the regulator of State Fund, said he was disturbed by Frank’s pay. He said he would order an audit to see if there was “anything that’s been inappropriate or wrong with regards to the way they’ve compensated their senior team.”

    And when/if they find nothing inappropriate or wrong, is Poizner going to fund the audit himself??

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