NYC COMPTROLLER SCOTT M. STRINGER CALLS FOR GREATER SUPPLIER DIVERSITY AT 20 OF NYC PENSION FUNDS' LARGEST HOLDINGS

  New York City Comptroller Scott M. Stringer, on behalf of the New York City Pension Funds, sent letters this week to twenty of the Funds’largest holdings, including Apple, Pfizer, Oracle, and American Express, asking them to disclose performance figures on their supplier diversity programs.  Ninety percent of S&P 100 companies have supplier diversity programs but less than half of that group discloses data on program performance. Supplier diversity is generally defined as programs that seek to purchase competitively priced goods and services from businesses owned by minorities, women, veterans and disabled individuals, among others.

“Supplier diversity is the next frontier for companies seeking to manage risk and create sustainable shareowner value,” Comptroller Stringer said. “A broader pool of diverse suppliers provides tangible benefits to corporations in terms of price and quality, but also enhances brand value, reputation and goodwill.  These 20 companies talk the talk but, absent disclosure, it’s impossible to measure the impact of their efforts.”

The letter requests that companies disclose qualitative and quantitative performance data that sheds light on program effectiveness either on the company web site or in a sustainability report by September 30, 2014, for disclosure of 2013 data, with annual reporting thereafter.  Specifically, companies were asked to:

1. Disclose their annual spend with diverse suppliers in both real terms and as a percentage of their total supplier spend, preferably by category;
2. Establish and disclose quantitative performance goals for their supplier diversity program and annual progress toward achieving these goals; and
3. Describe the ways in which supplier diversity goals are reinforced throughout the organization, including for example, through (a) oversight by senior management and the board of directors and (b) specific compensation incentives for employees, managers and senior executives

“We want companies to go beyond simply reporting dollars and cents spent on supplier diversity programs. We’re asking them to describe how the programs fit into their overall approach to diversity and to their business strategy more broadly. Some of the most successful companies in the world provide this information, now we are asking these corporations to follow suit,” Comptroller Stringer said.

The need for quantitative disclosure has become more urgent in light of the Dodd-Frank Act, which requires six federal regulators, including the Securities and Exchange Commission, to assess the diversity policies and practices of regulated entities. In a February comment letter on proposed standards, Comptroller Stringer urged the SEC to encourage corporate disclosure of spending dedicated to diverse suppliers, both on an absolute basis and as a percentage of total spending.

The 20 companies that received letters this week represent less than 1 percent of the nearly 3,500 domestic public companies in the Funds’portfolios, but the combined investment in these 20 companies is valued at roughly $5.8 billion, more than 9 percent of the Funds’ total investment in domestic public equity. 

The companies which received the letter, along with approximate share values as of mid-March are:

1. Apple Inc.                                2.2 million shares valued at approximately $1.2 billion
2. Caterpillar                                1.5 million shares value at approximately $147.7 million
3. Pfizer, Inc.                               16.2 million shares valued at approximately $519.6 million
4. Oracle Corporation                 8.7 million shares valued at approximately $338.3 million
5. Qualcomm                              4.5 million shares valued at approximately $347.2 million
6. Cisco Systems, Inc.                13.4 million shares valued at approximately $290.1 million
7. Home Depot, Inc.                   3.6 million shares valued at approximately $286.7 million
8. United Technologies Corp.     2.3 million shares valued at approximately $262 million
9. Amgen, Inc.                            1.8 million shares valued at approximately $235.5 million
10. Boeing Company                    1.8 million shares valued at approximately $223 million
11. American Express Company 2.2 million shares valued at approximately $199 million
12. MasterCard, Inc.                     2.8 million shares valued at approximately $223 million
13. Bristol-Myers Squibb              3.8 million shares valued at approximately $210.7 million
14. 3M Company                          1.7 million shares valued at approximately $224.4 million
15. Conoco Phillips                       3.1 million shares valued at approximately $208.6 million
16. United Health Group               2.6 million shares valued at approximately $199.5 million
17. Honeywell International          1.8 million shares valued at approximately $173.5 million
18. US Bancorp                            4.2 million shares valued at approximately $178.4 million
19. Altria Group                             4.6 million shares valued at approximately $167.2 million
20. Nike, Inc.                                 1.8 million shares valued at approximately $145.1 million

Comptroller Stringer serves as the investment advisor to, and custodian and a trustee of, the New York City Pension Funds. The New York City Pension Funds are composed of the New York City Employees’ Retirement System, Teachers’ Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund and the Board of Education Retirement System.

In addition to Comptroller Stringer, the New York City Pension Funds’ trustees are: New York City Employees’ Retirement System: Mayor Bill de Blasio’s Representative, Carolyn Wolpert (Chair); New York City Public Advocate Letitia James; Borough Presidents: Gale Brewer (Manhattan), Melinda Katz (Queens), Eric Adams (Brooklyn), James Oddo (Staten Island), and Ruben Diaz, Jr. (Bronx); Lillian Roberts, Executive Director, District Council 37, AFSCME; John Samuelsen, President Transport Workers Union Local 100; Gregory Floyd, President, International Brotherhood of Teamsters, Local 237.

Teachers’ Retirement System: Mayor Bill de Blasio’s Appointee, Carolyn Wolpert; Deputy Chancellor Kathleen Grimm, New York City Department of Education; and Sandra March, Melvyn Aaronson (Chair) and Mona Romain, all of the United Federation of Teachers.

New York City Police Pension Fund: Mayor Bill de Blasio’s Representative, Carolyn Wolpert; New York City Finance Commissioner Beth Goldman; New York City Police Commissioner William Bratton (Chair); Patrick Lynch, Patrolmen’s Benevolent Association; Michael Palladino, Detectives Endowment Association; Edward D. Mullins, Sergeants Benevolent Association; Louis Turco, Lieutenants Benevolent Association; and, Roy T. Richter, Captains Endowment Association.

New York City Fire Department Pension Fund: Mayor Bill de Blasio’s Representative, Carolyn Wolpert; New York City Fire Commissioner Salvatore Cassano (Chair); New York City Finance Commissioner Beth Goldman; Stephen Cassidy, President, James Slevin, Vice President, Robert Straub, Treasurer, and John Kelly, Brooklyn Representative and Chair, Uniformed Firefighters Association of Greater New York; John Farina, Captains’ Rep.; James Lemonda, Chiefs’ Rep., and James J. McGowan, Lieutenants’ Rep., Uniformed Fire Officers Association; and, Sean O’Connor, Marine Engineers Association.

Board of Education Retirement System: Schools Chancellor Carmen Fariña; Mayoral: Milady Baez, Ezre T. Cleveland, Norm Fruchter, Vanessa Leung, Lori Podvesker, Robert Reffkin, Miguelina Zorilla-Aristy; Laura Zingmond (Manhattan BP), Fred Baptiste (Brooklyn BP), Debra Dillingham (Queens BP), Robert Powell (Bronx BP) and Kamillah Payne-Hanks (Staten Island BP); and employee members Joseph D’Amico of the IUOE Local 891 and Milagros Rodriguez of District Council 37, Local 372. 

13TH CONGRESSIONAL DISTRICT DEBATE: THURSDAY, APRIL 10, 2014

The first of what could be many debates of the 2014 election season will be happening in the 13th Congressional District on Thursday April 10th at the Abyssinian Baptist Church 132 Odell Clark Pl starting at 7 PM. 

 

 

 

Cardinal Timothy Dolan to Break Bread with Evangelical Hispanic Ministers

Cardinal Timothy Dolan to Break Bread with Evangelical Hispanic Ministers

  The New York Hispanic Clergy Organization will be celebrating its 26^th Annual Banquet this coming Saturday, April 12, 2014 starting at 12:00 PM at Maestro’s Restaurant, located at 1703 Bronxdale Avenue in Bronx County.

Among the dignitaries who have confirmed their participation is His Eminence, Timothy Cardinal Dolan, the leader of millions of Catholics in New York City.

You should know that Cardinal Dolan’s visit to the Evangelical Hispanic Ministers’ Banquet is another indication of the spirit of humility, unification, and brotherhood that exists among the religious leaders in New York City.

Among the other dignitaries that have confirmed their participation are: New York State Comptroller Thomas DiNapoli; Bronx Borough President Rubén Díaz, Jr.; Westchester County Executive Robert Astorino; Bronx Democratic County Chairperson Carl Heastie; Assemblywoman Carmen Arroyo; Assemblyman Marcos Crespo; Assemblyman Luis Sepúlveda; Assemblyman Mark Gjonaj; New York City Councilwoman Maria del Carmen Arroyo; New York City Councilman Fernando Cabrera; New York City Councilwoman Vanessa Gibson; and State Republican Party Chairman Edward Cox.

The New York Hispanic Clergy Organization was created in 1988 and since then it conducts a weekly meeting every Thursday, and has a membership of close to 150 Evangelical pastors and ministers in the City of New York.

You should also know that among the functions of the New York Hispanic Clergy Organization is to help different countries in Latin, Central and South America when there are natural disasters such as hurricanes, earthquakes and other storms.

Puerto Rico, Honduras, Ecuador, Chile and the Dominican Republic are some of the countries that the New York Hispanic Clergy Organization has assisted, sending help such as medical equipment, buses, trucks, fire-fighting equipment and financial assistance.

The 26^th Annual New York Hispanic Clergy Organization Ministers’ Banquet will be dedicated to six members of the clergy that have distinguished themselves for their commitment, devotion, help and dedication to the work of our Savior Jesus Christ’s church.

The honorees will be: Reverend  Amaurys Mella, Pastor of  Christ Being Known Evangelical Church, Reverend Danilo Lachapel, President of Feeding the Needy Ministry; Reverend Byron Castillo, Pastor and leader of El Calvario International Ministry; Reverend Rosa Cadiz, Pastor of Rehoboth Pentecostal Synagogue; Sister Carmen Virginia Sanabria, International Gospel Singer; and Mr. Hector Castillo, Community Leader.  
With this banquet, where close to 1,000 people will gather, the New York Hispanic Clergy Organization closes another year of victories and struggles in the work of Our Lord Jesus Christ.  

Assemblyman Dinowitz Celebrates 20 Years in Office

  It was in early in 1994 when the special election was called to replace former assemblyman now Attorney General Oliver Koppell. The 81st County Committee met to nominate the candidate of the Democratic Party, and the choice was District Leader Jeffrey Dinowitz. Dinowitz received the endorsement of Congressman Eliot Engel, then New York Attorney General Oliver Koppell whose assembly seat was going to be filled, and then Bronx Borough President Freddy Ferrer.

  There were however two other candidates in that special election Mark Friedlander and Herb Mckay. Mr. Friedlander since he could not get the Democratic Party line chose to run on the Liberal line which helped elect Rudy Giuliani mayor in1993. Mr. Ray Harding head of the Liberal Party at the time also was able to get Mayor Giuliani, and former Mayor Ed Koch to endorse candidate Friedlander. The Bronx Democratic County Leader Mr. George Friedman also endorsed Mark Friedlander even though the 81st Democratic County Committee voted for Jeffrey Dinowitz as its candidate. 

  Even though he had the Democratic Party line Dinowitz was not the favorite in that special election. It was expected that candidate Friedlander being an Orthodox Jew would be the candidate of the Conservative Party. In a special election such as this the Conservative Party could bring out 1,000 or more voters to the candidate of the party. Since Friedlander chose to run on the Liberal Party line Conservative Party Chairman Bill Newmark was furious, and found a candidate to run on the Conservative Party line. Mr. Herb Mckay a former fire Chief of the Riverdale fire house, and resident of the highly Conservative Woodlawn area was the candidate of the Conservative Party in the special election. 

  The results of the special election were as follows 

Democrat Party candidate  - Jeffrey Dinowitz - 2,685 votes  42%

Liberal Party candidate - Mark Friedlander    - 2,495 votes  39%

Conservative Party candidate Herb McKay   - 1,229 votes  19%

Jeffrey Dinowitz won by 190 votes.

  With his son Eric Dinowitz as the MC the 20 years in office party of Jeffrey Dinowitz was celebrated by over 200 friends, and other elected officials all who had only kind words for the hard, honest, and humble work that has and is being done by Assemblyman Jeffrey Dinowitz. Dinowitz's answer was "It is easy when you are having fun at what you do". Photos of the event should be self explanatory. You can click on any photo to make it larger.

Left - Leslie Swanson sings the national anthem.

Right - Councilman Andrew Cohen with his campaign manager his daughter Sarah.

Left - Bronx Borough President Ruben Diaz Jr. and City Controller Scott Stringer. Both are former members of the state assembly with Dinowitz.

Right - Dinowitz is next to current Bronx Democratic County Leader Assemblyman Carl Heastie, City Comptroller Stringer, and Community Board 8 member David Kornblauh.

Congressman Eliot Engel heaps on the praise for his good friend Assemblyman Jeffrey Dinowitz.

 

Left - During his speech BP Diaz mentions Assemblyman Dinowitz is number one with him.

Right - Assemblyman Jeffrey Dinowitz says that you have to have fun at what your doing, and remarks "Is it 20 years already".

Pre-K Sign Up Blitz

  City Launches Media and Organizing Drive to Sign up Children in Every Community for Full-Day, High Quality Pre-K

  

Subway and bus ads, PSAs and materials in nine languages urge parents to apply

Parents can apply for new options at schools.nyc.gov/prek

  Joining Assembly Speaker Sheldon Silver at a public school’s pre-K program, Mayor Bill de Blasio announced a major media and community organizing push urging New Yorkers to sign their children up for pre-K. The outreach campaign follows the announcement this week that the city has secured the funding necessary to expand pre-K to 53,000 children this September.

The outreach includes $300,000 of ads on bus shelters, buses and subways urging parents to register their children for pre-K, as well as public service announcements, promotions in taxicabs, robocalls to families in public housing, and a multilingual canvassing effort in partnership with community groups.

“This is about reaching parents where they live,” said Mayor de Blasio. “It’s going to take a mix of new media and old-fashioned community organizing to reach every family. From our Taxi and Limousine Commission to community groups in immigrant neighborhoods, we’re working with every partner we can find to get the word out about new pre-K options opening up. But the most important pieces of this equation are everyday New Yorkers. Talk to your family. Talk to your neighbors. Help us get the word out.”

“I and the Assembly Majority have long maintained that pre-K is the critical jumpstart our children need to be successful. I am so pleased that we have a powerful partner in Mayor Bill de Blasio, who knows that this program can be truly transformational and will provide new hope for working families and their children. It is critical that we spread the word as quickly as possible, and I look forward to working with Mayor de Blasio and his team to make this program a huge success,” said Assembly Speaker Sheldon Silver.

The application deadline for public school options is April 23, and the Department of Education will notify families about public school placements in June. Families will also have an opportunity to apply for slots at community-based organizations later this spring.

The Department of Education is printing 70,000 Pre-K Expansion Guides that detail the new public school pre-K options. The guides are being mailed to 5,000 NYCHA families with eligible 4-year-olds and distributed through libraries, community partners and elementary schools. The Pre-K Expansion Guide will be translated in nine languages and available online.

For more information and updates on the pre-K application process, visit:schools.nyc.gov/prek or text “prek” to 877877.

DiNapoli: Preschool Special Education Contractor Overcharged Taxpayers $875,000

This comes from New York State Comptroller Tom Dinapoli's office.

 

TheraCare Preschool Services Inc, a downstate provider of preschool special education services, overcharged state taxpayers by more than $875,000 for improper staff bonuses and executive compensation over a three-year period, according to an audit released today by State Comptroller Thomas P. DiNapoli.

“Audits by my office have found a continuing pattern of abuse in the state’s preschool special education sector,”DiNapoli said. “Many providers are continuing to take advantage of lax oversight to give themselves excessive salaries and unearned bonuses. Taxpayer dollars meant for children with special needs are being wasted. This has to stop.”

TheraCare, headquartered in New York City, is a for-profit organization that provides special education services to children between the ages of three and five who reside in New York City as well as Westchester, Nassau and Suffolk counties. TheraCare served 651 students during the 2010-11 school year and reported program-related costs for reimbursement of about $50.1 million for the three fiscal years ended June 30, 2011.

State Education Department (SED) guidelines state that the compensation paid to specific leadership positions, and charged to an SED program, may not exceed the “regional median compensation”for these positions. On that basis, DiNapoli’s auditors disallowed $316,539 in compensation paid to the executive director ($73,820), CFO ($111,796), and assistant executive director ($130,923) for the three-year period ended June 30, 2011.

Bonus payments to employees are reimbursable by SED only if they are based on merit as measured and supported by employee performance evaluations. Auditors found that TheraCare claimed $253,205 in expenses for bonuses predicated on the organization achieving its budget, not employee performance.

In addition, auditors found that TheraCare often awarded its teaching staff a sign-on bonus with the agreement that they will remain in TheraCare’s employ for at least one year. These payments are not performance based and thus do not meet the eligibility requirements for reimbursement by the state. TheraCare inappropriately charged SED $220,875 for these improper bonuses.

DiNapoli’s auditors also identified $76,766 in unnecessary and inappropriate South American recruitment-related costs and $9,513 in other non-personal service expenses that were either unsupported or not program-appropriate.

DiNapoli recommended:

• ED review the disallowances resulting from the audit, make the appropriate adjustments to costs reported and to TheraCare’s tuition reimbursement rates, and recover the overpayments as appropriate;
• SED work with TheraCare officials to help ensure that only eligible costs are claimed; and
• TheraCare ensure that its requests for SED reimbursement include only those expenses that are allowed.

SED agreed with the audit’s recommendations and has already made certain adjustments to future TheraCare reimbursement rates to recover some of the excess compensation. SED has also instituted a soon to be mandatory training course for providers. TheraCare disputed the audit’s findings. For a copy of the full report, including responses from SED and TheraCare, visit: http://www.osc.state.ny.us/audits/allaudits/093014/12s21.pdf

DiNapoli has identified fraud and improper use of funds in a recent series of audits of special education providers. His office has completed 22 audits of preschool special education providers, finding nearly $22 million in unsupported or inappropriate charges. There are currently ten additional audits of preschool special education providers in progress.

In December, Governor Cuomo signed into law legislation mandating audits of every preschool special education services program provider in the state by the Comptroller’s Office. The new law, a program bill of the Office of the State Comptroller, also tightens weaknesses in the program, including how students are evaluated and placed in programs, and how reimbursement is calculated.

Klein Dinowitz Hold Town Hall Meeting to Explain New Provision in State Budget to Halt 11 Story Medical Center in Riverdale.

 Under New Mandate, New York State, Alongside Klein and Dinowitz, Will Launch “Bronx Community Forum”  so that Size, Scale, and Location Must be Weighed in Health Facility Approval Process for All Current and Future Health Developments in the Bronx.

  At the Riverdale Y last night State Senator Jeff Klein and Assemblyman Jeff Dinowitz explained the provision in the state budget limiting health facilities proposed for the Bronx. This legislation is intended to stop one particular project, that being the proposed 11 story medical facility being built in Riverdale by Simone Developers for Montefiore Hospital. After vocal community opposition by those living around the proposed site, what has been said a lack of community concerns by Montefiore, and complete opposition from Senator Klein's possible primary challenger former Riverdale Councilman Oliver Koppell on the issue  this provision was put into legislation as part of the state budget adoption. 

  This provision, contained in this year’s New York State budget, will apply to Montefiore’s controversial proposed development on Oxford Avenue in Riverdale. Specifically, the provision will empower local communities to weigh-in, via public forums, and to make formal recommendations to the Department of Health regarding the suitability of the facility’s proposed location as well as the facility’s potential impact on the surrounding community.

  Klein and Dinowitz believe as a result of the new community review process, Montefiore will be unable to construct any new facility at the proposed Riverdale site for at least 24 months.    

Senator Klein said: “This project will never get built under my watch. I have been fighting this project from day one because everything about it, from its size to its location, is wrong for Riverdale. For months, Montefiore has been ignoring the concerns of our community. Today, all of that changes. Today, Montefiore must start changing its project based on the concerns of our community, or else this project—and every future project—will never see the light of day. This is a major victory for the Bronx and with this new mandate, health providers like Montefiore will never again be allowed to run amok in our borough.”

Assemblyman Dinowitz: “Montefiore put forth a proposal for a huge facility in our community without the slightest consultation with community residents or its elected representatives. Month after month, local residents turned out in record numbers to express their strong opposition.  Unfortunately Montefiore has not listened.  This new approval process is now part of the new state budget.  Senator Klein proposed this language and led the way for the Senate to include it in its budget resolution. I was successful in securing the support of the Assembly, ensuring that it was part of the final budget. When our community is impacted by a proposal for a large facility such as this, it is crucial that there be community input. We will not be left out of the discussion. We will have our say before any final decision is made.”

Under this new approval process, any free-standing health facility would be subject to a mandated community forum that the health commissioner, local community board and proposed health clinic, facility or center, would hold at a mutually agreed upon time and date. The New York State health commissioner would oversee the proceedings at the community forum, in addition to making any and all evidence for why such a facility should be built at a given size, scale and location available to the public via the department’s website. The commissioner would also be responsible for reviewing all relevant input from the local community before making a decision to approve, modify or deny the facility plans.

Editor's Note: This provision is for only Bronx County, and facilities higher than three stories and/or an area of 30,000 square feet or larger. 

Montefiore currently has plans for another 11 story medical facility for the Coop-City area that will affected by this legislation. 

WHAT YOU SHOULD KNOW

By Senator Rev. Rubén Díaz
32nd Senatorial District, Bronx County, New York 

  New Police Commissioner William Bratton is Showing Respect to Our Community
You should know, that the new administration at 1 Police Plaza, is showing great respect and a new sense of consideration for our community here in the South Bronx.

It is important for me to mention that on Monday, February 10, 2014, Assemblyman Marcos Crespo and I sent a letter to the new Police Commissioner, the Honorable William Bratton, requesting a meeting.

The purpose of the request was to discuss what we believe is an injustice done to the residents of the Bronx, especially those residing in the area of the 41^st Precinct, where crimes committed in Queens County are being applied to Bronx County, therefore increasing the crime statistics in the Bronx and decreasing the crime statistics in Queens.

You should know that this outrageous and unfair situation where crimes committed in Rikers Island, which is located in Queens, are being applied to the 41^st Precinct located on Longwood Avenue in the South Bronx, has been amply documented and explained in the New York Daily News by Denis Slattery and other reporters.

We have been questioning ourselves why it is that the residents of the South Bronx have to carry the burden of seeing that their area’s crimes are increased, the insurance companies are increasing their rates and the South Bronx is being painted by everyone as a high crime area, while the area in Queens where Rikers Island is located is being painted like a crime-free zone.

For me, it was impressive to see how soon our request for the meeting with the Commissioner was responded to. It is a fact that in the previous administration, my requests and letters were very, very, rarely responded to.

To the credit of the new administration at 1 Police Plaza, the timing in which the letter was responded to took me by surprise. On Friday, April 4, 2014, the Honorable William Bratton sent to my Bronx Office, a delegation to meet with Assemblyman Crespo and myself. That delegation was composed of the Assistant Commissioner for Office Management, Analysis and Planning, Ronald J. Wilhelmy, the Assistant Commissioner for Intergovernmental Affairs, Susan Petito,  the Deputy Commissioner for Operations, Dermot Shea, the Deputy Inspector for Crime Analysis and Planning, Raymond Martinez and Ariana W. Caplan, State Legislative Affairs from the Mayor’s Office.

The interest shown by the Commissioner by sending this delegation of high ranking members of the Police Department to come to the South Bronx to try to find solutions to these old inequities that have been facing the residents of the area where the 41^st Precinct is located, merits praise and thanks for their attention to this long-standing issue.

It is important to know that crimes in the Bronx have been decreasing. But as long as crimes committed in Queens County are being applied to Bronx County, it is prejudicial not only to the residents of the 41^st Precinct, but to every resident of Bronx County.

I know and you should know that there is no easy solution, and that this problem will not be fixed by a snap of the fingers.  But to know that the new Police Commissioner and his administration are taking notice and paying attention and working together with us to try to find a solution, it is refreshing, it is admirable, and it is exciting.

I am State Senator Rev. Rubén Díaz, and this is what you should know.