Michigan ends pension contract over investor’s comments
LANSING (AP) — The state of Michigan's retirement systems have ended a contract with an investment company that managed more than $600 million in pension funds after the CEO made “completely unacceptable” comments at a conference.
The Michigan Department of Treasury’s Bureau of Investments fired Fisher Investments last week.
The decision came two days after the Camas, Washington-based company’s founder and CEO Ken Fisher spoke at the Tiburon CEO Summit in San Francisco.
CNBC obtained audio of Fisher referencing genitalia.
The Washington Post reported that he spoke of doing acid and his belief that charities are immoral.
The retirement system’s chief investment officer, Jon Braeutigam, notified Michigan's investment board of the move Thursday.
He said, “There is no excuse to not treat everyone with dignity and respect."
Michigan’s retirement systems have more than $70 billion in assets.
Judge rejects challenge to tougher lead rule
LANSING (AP) — A judge has rejected the last challenge to a rule that could cause the billion-dollar replacement of 500,000 lead water pipes in Michigan.
Local governments sued, saying a rule to further restrict the amount of lead allowed in drinking water is an illegal unfunded mandate from the state.
But Judge Christopher Murray at the Court of Claims says certain financial protections under the Headlee Amendment aren’t triggered in this case because local governments have chosen to provide water.
He said recently there’s no mandate that they’re required to provide the service.
After the Flint water scandal, Gov. Rick Snyder dropped the action level for lead from 15 parts per billion to 12 by 2025. Lead lines connecting water mains to houses and other buildings will be replaced by 2040.
Dog lost since 2007 found 1,000 miles away in Pittsburgh
PITTSBURGH (AP) — A toy fox terrier that disappeared from its family’s south Florida home in 2007 was found this week over a thousand miles away in Pittsburgh and reunited with its owner on Friday.
The 14-year-old named Dutchess was found hungry, shivering and in serious need of a nail trim under a shed on Monday, according to Humane Animal Rescue.
The property owner took the dog to a Humane Animal Rescue location, where staffers were able to locate a microchip and trace the dog back to its owners in Boca Raton, Florida.
The dog’s owner, Katheryn Strang, drove all the way to Pittsburgh — about 1,100 miles — for an emotional reunion with Dutchess.
She said her son opened the door after school one day and Dutchess got out and they never saw her again. They were living in Orlando at the time near a very busy street and she assumed the dog was either hit or scooped up by someone.
She checked shelters daily in the weeks after Dutchess went missing, and continued to pay the annual fee on the microchip, as well as update her contact information whenever she moved.
“They are like your babies. You don’t give up hope,” she said at a news conference after reuniting with Dutchess.
As she kissed and hugged her long-lost pet, she murmured to the dog: “Where have you been?”
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