Friday, May 12, 2006

Nappier Announces Re-Election Bid

It's official: Denise Nappier is running for a third term as state treasurer. From the press release:
Connecticut Treasurer Denise L. Nappier formally launched her 2006 re-election campaign today, stressing successful efforts to bring much-needed reform, achieve solid financial results and promote responsibility in Treasury operations and corporate America.

The Hartford native, seeking her third term, said her administration is using the clout of the Treasury “to make a difference in people’s lives. From the kitchen tables of Connecticut to corporate board rooms around the world, we’re working to improve the quality of life for the people of our great state, to help them build a better financial future.” (Nappier)


All right. But there's this:
The state treasurer's office has failed to post thousands of cases totaling $151 million in unclaimed property on its Web site - property that owners could otherwise have claimed - since July 2004, according to a state audit released Friday.

Auditors Kevin P. Johnston and Robert G. Jaekle also found that owners trying to claim stock proceeds too often receive inaccurate payments because of the incomplete database, and may wait "well beyond" the 90-day limit set by law, with some claims dating back seven years.(Phaneuf)

Considering the damage her predecessor did, that isn't so bad, I suppose. Other than that, Nappier has had a pretty solid tenure, though it's been nothing particularly outstanding.

There are some rumors flying around that she may run for mayor of Hartford next year, but for now it seems like she's focusing on winning a third term as treasurer.

Opposing her could be either former Democrat Frank Lecce, who was defeated by Nappier in a primary in 1998, or, more likely, East Windsor First Selectwoman Linda Roberts. Gov. Rell has reportedly expressed a desire for more women to be on the underticket. Roberts would make the count at least two (Cathy Cook is probably running for Comptroller).

The Republicans didn't pose much of a threat to Nappier in 2002, and they probably won't this year, either. Expect her to stick around for at least another year, maybe four if she opts out of the Hartford mayoral race.

Sources

"Nappier Announces Candidacy for Re-Election." Press Release. Nappier for State Treasurer 2006, 12 May, 2006.

Phaneuf, Keith. "State is sitting on public's money,Treasurer fails to disclose more than $150 million in unclaimed property." Journal Inquirer 24 March, 2006.

9 comments:

BRubenstein said...

GC...I was one who instigated Denise to run..along with a few others...and had a senior position in the race..

She has done an outstanding job as Treasurer and let the sun shine in from the Sylvester scandal...has done alot with making financing available for home for folks who would otherwise not be able to afford it...and has a reach nationally on finance matters. She is the first afro-american female treasurer in the nations history.She has won all kinds of awards and has the respect of wall street for what she does..all the while there has been no scandal coming from her office.

Next time thoughly research what she has done in her 2 terms before painting her in such a lackluster way.

BRubenstein said...

GC...I was one who instigated Denise to run..along with a few others...and had a senior position in the race..

She has done an outstanding job as Treasurer and let the sun shine in from the Sylvester scandal...has done alot with making financing available for home for folks who would otherwise not be able to afford it...and has a reach nationally on finance matters. She is the first afro-american female treasurer in the nations history.She has won all kinds of awards and has the respect of wall street for what she does..all the while there has been no scandal coming from her office.

Next time thoughly research what she has done in her 2 terms before painting her in such a lackluster way.

blueper said...

It's a bird; It's a plane; No, it's superbruce!

Able to lead the revolution, "instigate" candidates to run for every office, be in a "senior position" for countless others, evaluate every rumor, revive the SDS, earn "$500/hour", and comment endlessly on every concevable topic.

And yet never appear to have too high an opinion of himself.

A true superhero.

BRubenstein said...

Blueper...thank you for that tremendous buildup...your check is in the mail for it ( wink).

Rear_Admiral said...

GC--can you post the entire press release from Nappier, or link to it? Thanks!

Genghis Conn said...

Here ya go... don't have a website for Nappier yet.

FOR IMMEDIATE RELEASE
Wednesday, May 10, 2006
Nappier Announces Candidacy for Re-Election, Cites Solid Fiscal Management, Successful Efforts to Achieve Savings for Taxpayers, Opportunities for Families and Businesses
(West Hartford) - Connecticut Treasurer Denise L. Nappier formally launched her 2006 re-election campaign today, stressing successful efforts to bring much-needed reform, achieve solid financial results and promote responsibility in Treasury operations and corporate America.
The Hartford native, seeking her third term, said her administration is using the clout of the Treasury “to make a difference in people’s lives. From the kitchen tables of Connecticut to corporate board rooms around the world, we’re working to improve the quality of life for the people of our great state, to help them build a better financial future.”
In her remarks before supporters, Nappier cited the investment performance of the now $23 billion state pension fund, superior to 83 percent of similar funds nationwide over the past seven years, and the management of the state’s debt program, which has saved taxpayers $470 million in future debt costs.
Nappier also highlighted her successful efforts to establish a tax deduction for contributions to CHET college savings accounts, approved earlier this year by the state legislature, creation of a $100 million Housing Trust Fund to increase affordable housing in Connecticut, and the landmark Gift Card Law, which prohibited expiration dates and non-use service fees on gift cards sold in Connecticut.
The Treasurer also described an “unprecedented commitment to doing business with Connecticut-based firms, women and minority owned financial firms, and the next generation of entrepreneurs and professionals in the financial services industry, as well as an unparalleled commitment to invest in Connecticut.”
In addition, she highlighted the record-setting return of an average of “$2 million a month” in unclaimed assets to Connecticut residents and business, and eight consecutive years without an assessment rate increase for business payments to the state’s Second Injury Fund, which administers injured workers claims.
Nappier also stressed her administration’s efforts encouraging responsible practices by the nation’s corporations in the wake of a series of corporate scandals. Most recently, she has been one of the nation’s leading advocates for reductions in excessive executive pay packages.
“We’ve earned a reputation as being among the best in the nation advocating corporate governance reforms that, among other things, embrace responsible behavior and good corporate citizenship. And there’s never any doubt about our main objective here… we believe that such reforms will improve the financial outlook of companies and thereby protect and enhance the value of our investments or financial business in those companies.”
Nappier also highlighted efforts to work as a catalyst for increased financial education throughout Connecticut, collaborating with community and faith based organizations, as well as businesses and educators to bring a wide range of new programs and services aimed at improving financial knowledge.
Recalling the scandal involving her predecessor as state treasurer, and the Treasury Reform Law she successfully advocated to clean up the office, Nappier said, “We’ve placed a premium on professionalism, integrity, accountability and transparency. And, in all candor, we’ve worked too hard, not only as an office, but as a state, to risk going back to the way things used to be.”
Nappier, a Democrat, was elected in 1998 and re-elected in 2002, having previously served nearly ten years as Treasurer of the City of Hartford. She is a member of the Executive Committee of the National Association of State Treasurers, and a board member of the National Association of Corporate Directors Connecticut Chapter, the first public fund investor to serve in that capacity.
Treasurer Nappier is the nation’s first African American woman to be elected State Treasurer, the first African American woman in Connecticut history to be elected to statewide office, and also the first woman to be elected State Treasurer in Connecticut.
Nappier kicked off her campaign Wednesday evening before enthusiastic supporters at the Pond House in Elizabeth Park on the West Hartford – Hartford town line.
***
Paid for by Nappier for State Treasurer 2006, Bruno Mazzulla, Treasurer

Brass Anon said...

In the words of Hyman Roth, she's "small potatoes."

Patricia Rice said...

Bruce R..This is scary because now I am agreeing with you! Denise Nappier is a good person and has done a nice job. I’m sure she will win again.

Wolcottboy said...

Can anyone explain why Denise Nappier's office is still defying state law by investing State pension monies with firms that knowingly do business with Iran? www.divestterror.org