As my colleague, Arturo Jimenez, entreated, we should err on the side of transparency. My Board minority colleagues and I brought subject-matter experts on the impact of the interest-rate swaps on our pension obligations, and instead of hearing what was going to be said, the Board President, Nate Easley, shut it down.
As of right now, he’s still trying to have back-room, closed-door meetings between the Superintendent and our experts. The point of the meeting we’re requesting is to have an open-air discussion of what’s happening.
I’m happy to report, though, that our Treasurer, Mary Seawell, is working hard to find an open and transparent solution to this problem. Kudos to her!