The supervisor said i want to get a lot of money. So do i. Thousands of city workers signed petitions saying they dont want their what the city workers think and i think thats a statement really of the problem that we have here. The city workers retirees an active city workers have a right to have a pension fund that is going to be secure and theyre very concerned that proposals to turn it into hedge funds will put their pensions in jeopardy and the fact that you have somebody who sells Pension Funds, who invests in Pension Funds and is on the board and youre going to be reappointing this person to a five year term, what does that tell me an otherwise city workers . That you would have somebody that has a personal conflict of information on the pension board, whos questioning were having a trial. Ed lee was informing about this conflict of interest before he reappointed here and he continued to reappoint her. That tell ls me this mayor is not concerned about the retirees and active workers in San Francisco. Hes more concerned about getting his friends or cronies in positions where he can give money from the Pension Funds. That has to stop. Thank you, next speaker please. I think there needs to be an alternative and i think its important that the board access it. We have a good retirement system. Were one of the best in the country and i want to keep it that way. I dont think investing in hedge funds in the direction or since we got this new chief Investment Officer is going and i think its important to ask the candidate about these questions. Thank you for the opportunity to speak. Im also a retiree with the First Program system and i just wanted to comment. A few people had said we should be giving her the benefit of the doubt. Frankly, having worked as a career traffic engineer in the city we were always told our behavior had to be exemplary. We couldnt have the appearance of impropriety. Were in a fish bowl as public employees. In the retirement system youre really in a fish bowl so these questions of ethics are important. We have appealed to every who spoke to the board and made some very wonderful presentations. She didnt show so i think she has a lot of explaining to do. I very much would support this motion to have her come to the board and answer these questions. Before the next speaker comes up, im going to reminds everyone this is about wendy paskinjordan so just please keep your comments related to her reappointment, but not about in general what the retirement board can or should not do. Thank you. Next speaker, please. Ive been a San Francisco voter since 1908 and am the city of somebody who will have a city pension in a few years an i know he agrees with me in all this. I want to thank you for your unanimous vote to ask the pension board to invest in the fossil fuels. That was such a different time. During the nearly two years since that spring 2012 vote the retirement board has done little but waffle and mumble about how risky it might be. Ive been to those meetings, i speak from experience. The world has moved forward around them and the reason to divest in momentum to do them have grown spectacularly. The reasons that i think motivate it had board of supervisors to vote was the reality of Climate Change and the scientific news keeps getting more terrible in the 20 months since you vote. Were now in a race to save the world from the worst Case Scenario frs Climate Change divest ment as this retirement board was asked to do. Another aspect thats change td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carbon bubble. More and more authority, the bank of london, the british financial minister say wezre in the midst of a carbon bubble that could plummet and make the retirement board has to the tune of i think 3500 million thats worthless. So lets catch up. Thank you. Thank you for your Public Comment. That ng you. And again, im dpoing to have to remind everyone that your Public Comments must be confined to this item which is about wendy paskinjordans reappointment. Please continue your comments in relation to these items or else we will have to sprupt you. Interrupt you. Thank you very much. My name is brett, im Senior Analyst at 350. Org. My job is to track Public Institutions reaction and Due Diligence to what is now called carbon risk. The point that has been made so far is that the board of supervisors as part of their fiduciary duty, is not to grow the fund but protect it, what the connection theyre trying to make here is that wendy paskinjordan has been a barrier to the Due Diligence of the board finding out whether or not they are sitting on significant carbon risk. I would say that its up to this board here to up hold the integrity of its board through this. And theres a difference between intent and action. Theyre very separate things and although intentd is significant the action is without a doubt where the rule was broken. So when funds were traded after ms. Paskinjordan was on the board that seems like a very strong indicator for an ethics violation and this is the opportunity to keep the first board at the highest caliber business examining this further. Thank you. Hello, im a San Francisco resident and member of fossil free San Francisco as well. I think the previous comments, i have heard an explicit call that she not be reappointed and they were basically giving their reasons why they dont think she is adequately representing her fiduciary duty on the board because of these huge concerns in market risk in these areas. I want to underline that fossil free San Francisco and 350. Org manage to bring members of bloomberg, Ronald Reagan to the retirement board to speak about market risk an all members spoke up to that meeting except for one, the one we are here talking about. I comments are to urge that you reject this appointment, and if you are not prepared to do this today, to hear this again in january, get your questions answered and reject it at that time. Id like to point out just from hearing what i heard at this hearing, the Ethics Commission usually charges about a 5,000 penalty per violation so if you can make more than 5,000 per violation theres no reason not to do it. The real meaningful penalty has to be in standing access to public opinion. Its clear that the Due Diligence must be done on this item, 20 billion of pensioners money is at stake. Id add, that the appointment was submitted so that it expired one day before the next meeting. Thank you, next speaker. San francisco resident and member of fossil free San Francisco. Im here to oppose the appointment of wendy paskinjordan. First of all, in terms of the ethics violation, did she accept a business ovp. Opportunity. Clearly she accepted a Business Opportunity and continues to do so and she and the investors she represents continue to be able to be leverage the amounts of money invested by the pension board for her own an her clients benefit. Im not able to do that, she is able to do that. Now, whether or not this is technically a violation, to me does not matter. I believe that the board these to be held to a very high standard, including the standard of the appearance of a conflict. As a federal employee we were all admonished that we have a look at the appearance of the conflict as well as the conflict, that otherwise we would not be able to generate any kind of trust from the public and i believe city workers, whether in the charter or not, needs to be able to be held to that standard as well, especially with the amount of money on the table. My second point is with respect to wendy paskinjordan is in terms of the excellent definition we were given of a fiduciary is to put the interest of the Trustees Board as above their own interests and thats why everyone here is talking about the risk of fossil fuel investment that you voted on and was ignored by miss paskinjordan as the chair of that committee. So together with the hedge fund issue, all of these are fiduciary duties that shes not performing. Thank you. Thank you. Next speaker. Good afternoon, my name is cay walker and im a life decade long member of the great panthers and a member of seiu ten to one. I was very distressed by the conversation in general here because i may not be an attorney, but the sections that were quoted is that ms. Paskinjordan allegedly violated, to me were very indicative of someone that had a conflict of interest. She was given this task to do a favor to do a different type of investment with gmo and didnt utilize it until she was on the board. Her reasons for doing its are not clear, but she is definitely somebody thats accepting a Business Opportunity from any public or pry separate entity in San Francisco employees retierpt system. She is definitely accepting that. I dont think you have to be an attorney to understand that. Its right in the language. If she didnt know she was in violation of this, then she has really not the competence to be on that board or maybe she perhaps doesnt bother with those minor things such as ethics. Theres also it was distressing to hear from somebody there was only one ethic violation filed and i know from what ive been reading and the actual documents that were sent to me that there were two and one was filed in april and i guess that was igz norred. Ignored. I think the comment that were the plan members, were the beneficiaries. We should have thank you. Next speaker please. Good afternoon. My name is martha hawthorne. I was a nurse for 30 years with department of Public Health and im not one of the 56,000 city workers and retirees who depends on you, board of supervisors, who protect us. Ive been to a number of the board meetings recently and im very disturbed by the behavior of wendy paskinjordan. I would urge you to reject her appointment. She has missed many key meetings. She missed the meeting on fossil fuel divest m. Shes never answered adequately the members questions about hedge funds. We have to believe shes in favor of that. I have think we deserve better than went diz paskinjordan. Wendy paskinjordan. I have think there is someone better that can fill our position. Please, board of supervisors, if youre not ready to reject her reappointment, i think theres plenty of reasons to do it right now, however, if youre not ready, at least vote in favor of the motion for a special meeting. She should be here. She should not be missing an action once again. Thank you. Good afternoon board of supervisorses, my name is Patricia Jackson and im a city retiree. I want to speak in favor of the suggestions is that were made here by supervisor avalos to have the mayor rescind this appointment and come back in january when it can be further investigated. There have of those very corporations that are gentry gentrification our city. I want to speak in favor of the motion. Id like to suggest too that for the future, let us consider appointees, if theyre going to be made by the mayor, that perhaps they should come from some other part of our economy, someone who understands or economy or alternative investment organizations. Thank you. My name is kimberly and i im a resident of San Francisco outer sunset district. Im here to ask that you reject the appointment of wendy paskinjordan. In terms of the issue that has been the main issue of concern here during your meeting, which is her investment, its my understanding her investment that theish sure today was made in 2011 and the disclosure was not made until 2014 and i ask why this wasnt made earlier if this is not a concern. Secondly, i think that her lack of attention an lack of information seeking regarding divestment from fossil fuels raises an issue of her fiduciary duty as a board member. Everyone on the board has met with our group, fossil free sf, to discuss the divestment except for wendy paskinjordan. That seems like the prudent move to do so why is she not doing that . Does she have another conflict of interest in regard to the fossil fuel industry . I why did she not meet on our we eve reached out to that many times, not just yearandahalf ago and today its more and more clear that investment in fossil fuels is a bad investment. Even the rockefeller lost their fortune because of the fossil fuel investment. Why is she not giving attention to this . I think that any appointment of a city official, be it a commissioner, supervisor, their behavior needs to rise to a higher standard in terms of ethics. Seiu ten to one is in opposition of investing in hedge funds, which they are considering. I think ms. Paskinjordan operates a Management Firm that has Hedge Fund Investments that she may benefit by or influence those decisions in a manner that may present a conflict of interest. We also have serious concerns about the ethics violation that were hearing about so given those regions, we of course asking you not to approve the appointment of wendy paskinjordan an if you need to look at it further, postpone it off to that january 7 day, but certainly, dont approve her appointment today. Thank you. Hello, my name is an marie and i eve been a City Resident and homeowner for 30 years and im here just to add the weight of my presence and comments to the eloquent speech of people before me. Im a member of 350 San Francisco and became concerned ed along the lines of wendy paskinjordan dragging down the process of advancing the divestment that you all voted for and now im learning a lot more about other issues so i think this is a big red flag so please do not approve ms. Paskinjordans reappointment. Thank you. Good afternoon. I want to say my father, phil paulson gets a retirement check. He retired many years ago from central shops and [singing] im here to speak on behalf of myself and our future. Weve been talking today about the importance of not investing in risk an hedge funds have some risk to them, but theres nothing more risky than investing in fossil fuels at this point for our future. I want to thank supervisors cohen and campos and representatives here for bringing attention to the whole process and supervisor breed as well. I think a lot more neighbors are informed of this process now, which is really helpful, but i think enough information has been brought forth that we should support talking to this woman wendy paskinjordan. I didnt know her name well before this week and id been seeing these reports come out. I urge the board to hear more about these reports. Theres 56,000 meme that people that are affected i this amazing city i would not appoint wendy paskinjordan to this position. I would be talking with people here today, people in the rooms who have already talked about who to appoint whos going to say yes in my backyard to an inclusive, enriching and Sustainable Future for our city. Thank you. Any other members of the public who wish to speak on items 46 and 47. Seeing none, Public Comment is now closed. Item 47, supercampos. I want to summarize for my perspective, im not interested . A witch hunt or targeting this individual, but i feel when questions of this magnitude arise, in terms of protecting the interest of everyone involved, the retirees, the employees, the public and the individual, its important to have a good process. The way this would normally work is that once the appointment was made and the 30 day notice is provided to the board the item goes to the rules committee where theres an opportunity to hear directly from the nominee, the applicant. Unfortunate ly because of how things worked out here we havent that had that opportunity so but supporting the motion i made to continue it to january 7 were simply affording this individual the opportunity to come before this body, speak and hear directly from her so i ask for support on the motion. Thank you. Thank you very much. Thank you ladies and gentlemen for coming out and hearing on this item. Im going to be supporting this continuance. I think its important to answer the questions weve heard here about attendance, her thinking and her thought pattern when it comes to answering some of the questions about her investment with gmo. I think also that it will also allow us an opportunity to also further develop an understanding on what the pathway is with the ethics department. I agree with one of the speakers that we as elected officials, those that serve, any kind of a position head if youre a doctor, lawyer, head of a religious organization, theres a higher standard we have to hold ourselves to and we need to remain above the suspicion of any kind of impropriety so lets give ms. Paskinjordan an opportunity to come, state her position and we will then wait to hear what the Ethics Commission will find and i hope this body will adhere to what the Ethics Commission has found. Thank you. Thank you. Supervisor breed. Thank you. I too will be supporting the continuance. I think that it is very rare that this body brings before us any of the mayors appointments for questioning and it is clear that we have a number