Thanks for joining us. Im bob massi. What if you could change your whole neighborhood or even an entire city . Im gonna introduce you to some people who are doing just that, with amazing results. Downtown las vegas has a rich history, but as the famous strip got built up and the suburbs grew outward, well, much of old vegas it became abandoned. Then came the recession, which devastated the entire area. Attorney Oscar Goodman was mayor at that time. His wife, carolyn, now is the current mayor. When you become the mayor, you see the first signs of blight. I didnt even know what the word meant at the time. Windows were becoming boarded up in the downtown. I had been around the country. I went through various downtowns, and i saw what looked to me like war zones rubble and the like. And i didnt want that here for las vegas. Things were looking pretty bleak for vegas, especially downtown, and despite the financial troubles, the city had already committed to moving out of this building, whic
Nicole critical deadline to make a payment. Congress taking up puerto ricos problems today, we will have the latest. Cheryl we will have the numbers for you. Nicole Cleveland Brown fans stunned. We will have all the highlights. Welcome to fbn am, first look at whats in todays markets and latest breaking news and what to expect ahead. Cheryl state department releasing a new bash of Hillary Clintons emails and some of them related to u. S. Consulate in benghazi. Its 5100 new prit emails. The state department redacted 329 of them because they retain classified secret information that should not have been sent under state department rules. Here is one from may 2010 on iran. The administration held secret talks with iran on the nuclear deal. Here is another about a call that secretary clinton had with netanyahu in 2010 and under department rules that she said she knew about any communication involving a head of state is automatically classified whether its marked classified or not at the ti
Outperformed by one and a half percent so its not uncommon for people to systematically out perform the h f r i wanted to mention the bad hedge funds, of course, were aware of the newsworthy items that madoff and longer than capital the 10 fraudulent hedge funds almost one hundred mroifldz the 10 largest Fraudulent Companies in the United States add up to one . 5 trillion so more than 15 percent times the size and the Hedge Fund Universe is 3 trillion and the u. S. Market is about 23 or 34 billion so the u. S. Equity market is 8 times the size of the hedge funds market but it has had 15 times in terms of largescale frauds so you know we point to bad apples can be found anywhere it is important to bury through the transparency in research and the partnership whats the incentives of the manager you know so anyways i wanted to to point out in scale it universe is not different than ours. One finally question again i want to make sure we answer any questions out in the audience people have
Conversation subject matters we walked through my objectives to learn about the evolution of the program why in their thought 38 they didnt achieve in their droifkdz and why their divesting from the programs and could others succeed in the program he pointed out specifically so a confidence he had with blue that berg resort that the resort asked me the same question and on that or smaller than you can they psyche my answer was yes we talked about some of the lessons from their experience i asked him for suggestions and he give me some suggestions im appreciative. It would be wonderful i dont know if you can do this but sometime if we could appear in front of this board or have one of his people. I had a couple of ideas and i cant how he can help us i dont want to put him on the spot but he is glad to help, however, he came in ways that their you know the ceo. Uhhuh. But he was very yes, maam authentic i thought that you folks a number of times but were going to talk again in the next c
The thing is my pension is guaranteed by the city not by the funding ratio the supplemental cola will do that but the city backs the promises in the charter i believe thats true of every City Employee a member of the system were trying to do something to knock out the drawdowns that occurred in 2008, and 2002 when we dropped blood two periods the discussion about the model of selection of managers it is one important document we must do we control that we must obsolete on and develop thats the guidelines we do that in the private equity if we dont state our guidelines thats where we will address the leverage and the social issues so in the development of guidelines its the first step before we decide who were going to hire and the infrastructure how and when will that be done. Commissioner the sequence of events to asking conduct an rfp, second is conduct a search and then third to retain somebody after those things are done then i envision crafting investment guidelines after we have