Sunday posts, pics and tweets.

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SpikeLeeStSabina
Spike Lee — in Chicago shooting “Chiraq” —posed for lots of photos Saturday at St. Sabina Catholic Church’s annual block party. Here, he poses with Takneia Sterling, 3-week-old Jimmie Wheeler Jr., and Jimmie Wheeler Sr. | Brian Jackson /For the Sun-Times.
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We’re not equal when it comes to water.

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Who comes first, the investors or the person who manages their money?

That question is crucial for any investor. But it poses a special challenge for retired firefighters, police officers, teachers and other employees who may not know that their retirement money is being held in private equity funds.

These are opaque and costly investment vehicles that borrow money to buy companies and sell them, ideally, for a profit. The secrecy under which this $3.5 trillion industry operates has essentially required millions of people whose pensions are invested in these funds to simply trust that they are being treated fairly.

Yet the funds impose fees under terms that create conflicts of interest between investors and general partners who run private equity firms. A little-known practice involves discounts that the firms obtain from lawyers and auditors but do not always share fully with investors. A dive into regulatory filings over the last month revealed that 12 private equity firms said they had actual conflicts of interest in connection with such discounts, while 29 more described potential conflicts. Altogether, the 41 firms oversee almost $600 billion in client assets, documents show.

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But in CPS the nurse is on site only once a week.

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2 thoughts on “Sunday posts, pics and tweets.

  1. One way or another they are going to find a way to rob us of these pensions. Those of us that are currently retired will be lucky if the only thing we lose is COLA and health insurance. Current workers or those starting out will need to save a certain percentage of their income. If I was a new public employee or had little time in I would be trying to find a way to opt out of these pensions and do it on my own.

  2. Sadly teir 2 is getting something less than soc security . The Times story on pe is must read as is the mag on divide and conquer in WI . It was the same game Madigan used during pension theft .He needs to read it because he was a pawn and now his PE master rauner is coming after him. Of course he doesnt like it . Our real power is in who we can put in charge of our pension funds. These funds are the only pools ofcapital avialable outside of the centimillionaire billionaire class yet that class or a lagre partof it needs to feed of our wealth because they are parasites. We seem to be in late capitalism and the system has destoyed the real source of wealth in the middle class and it has maybe only our pension money to feed on. They are ours and we need to use them to fight back . itlooks like calpers is

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