Let’s start off with April Haven’s latest for the Mississippi Press via RFP in comments:
Boy the way Glen Miller played
Songs that made the hit parade.
Guys like us we had it made,
Those were the days.
Sorry folks wrong story. Roy Williams is gone and ostensibly passes the SRHS account along genealogically to his son Brett.
Here at Slabbed we’re blessed. I’m talking with several people with detailed knowledge of both the Jackson County political landscape and the SRHS executive suites and that does not count accounting stopping in with us yesterday. Some of these nice people use charitable language saying things like “ethical lines were blurred”, which is a polite of way of saying that certain people are fixing to get into some deep trouble. Anita Lee set things up very nicely:
- SRHS retiree’s attorney: ‘The hunt is on’ for whoever halted pension funding
- SRHS trustees trying to ‘serve two masters,’ lawsuit says
As it would happen, I know a thing or two about the proper administration of pension plans. The lawsuit at the heart of Anita’s second story should have the desired effect because of the clear cut breaches of fiduciary duty that were created by clear cut conflicts of interest. For instance in this saga we learned that former SRHS Board Trustee Morris Strickland actually was charged with investing trust assets. When I saw that I gasped but then again the lawyers I know that are most knowledgeable of ERISA and trust common law all advise their clients to have an independent plan trustee and investment advisor period, especially in something like a defined benefit plan. At Singing River management and the Board of Trustees took those roles and this brings me back to Mr. Williams and in house SRHS counsel Celeste Oglesby because you wonder what in the blue hell they were thinking allowing such a setup to which mucho liability would naturally attach should things go wrong.
Maybe Williams and Oglesby advised the Board of Trustees to get an independent trustee for the pension trust and were ignored. Maybe they went along to get along. Something tells me before this is done we’ll all know the answer.
The Sun Herald SRHS Krewe has unleashed a torrent of new reporting that is well worth checking out because Roy William’s departure came as a surprise to the Health System per spokesman Richard Lucas. To make sure the heat stays directed at the Health System, County Board of Supervisors Special Counsel Billy Guice reminds everyone the Board has a forensic accountant and a highly qualified CPA firm working it at full steam. Finally Anita Lee is back in the blogging business and she pokes at bit of fun at Brett Williams and the nasty gram he sent to the Sun Herald.