Point Judith Capital (income, income tax, price)

[redplum33]

R.I. can’t cut ties with Point Judith Capital

Rhode Island remains unable to extricate itself from the private equity firm co-founded by Gov. Gina Raimondo before she entered politics, even though the state’s initial $5-million, 10-year commitment to Point Judith Capital expired years ago.

And, once again, the state appears to have no say in the matter.

....

In 2010, then treasurer-elect Raimondo announced that she had resigned from the committee that decides how Point Judith Capital invests the money that it has pooled with other investors, and also from the boards of directors on which she sat as a Point Judith partner.

But she retained an interest in the company, which she placed in a blind trust. Income tax returns she has voluntarily made public each year since have reflected her personal gains.

The tax returns Democrat Raimondo and her husband made public this past April reflected a huge payout last year — $888,743 — from the Point Judith Capital holdings she placed in the blind trust.

Thoughts about this?

[independent man]

The governor resigned from the PJC board in 2010, disclosed her income tax returns & put her company interest in a Blind Trust. What more can (should) she do?

[redplum33]

https://pjc.vc/#portfolio


https://pjc.vc/team/gina-raimondo/

[redplum33]

From Forbes:


(This is a long article but I encourage everyone to read it.)


Rhode Island Governor Gina Raimondo’s 13-Year “Loser’s Bonus” Paid By State Pension Is Not Wall Street Business-As-Usual



"the 13 years of secrecy surrounding Raimondo’s hugely underperforming Point Judith fund stretches credulity.

Again, this is not Wall Street business-as-usual. This is an outrageous exception to the rules of normal pension prudence.

It’s a deal so drenched in obvious political foulness that it reeks. And it’s gone on for 13 years now."

[PureBoston]

Originally Posted by redplum33

From Forbes:


(This is a long article but I encourage everyone to read it.)


Rhode Island Governor Gina Raimondo’s 13-Year “Loser’s Bonus” Paid By State Pension Is Not Wall Street Business-As-Usual



"the 13 years of secrecy surrounding Raimondo’s hugely underperforming Point Judith fund stretches credulity.

Again, this is not Wall Street business-as-usual. This is an outrageous exception to the rules of normal pension prudence.

It’s a deal so drenched in obvious political foulness that it reeks. And it’s gone on for 13 years now."

They're far more interested in the price of cream.

[redplum33]

Originally Posted by PureBoston

They're far more interested in the price of cream.

...and disco night in the ghetto.

Hard to have an honest discussion here.

It is quite telling, though, that the Gina lovers aren't even attempting to defend her. They're just hoping this thread falls off the first page.

[PureBoston]

Originally Posted by redplum33

...and disco night in the ghetto.

Hard to have an honest discussion here.

It is quite telling, though, that the Gina lovers aren't even attempting to defend her. They're just hoping this thread falls off the first page.

Don't worry, they'll be out in force to cover for her. I guarantee it!

[independent man]

Originally Posted by redplum33

...and disco night in the ghetto.

Hard to have an honest discussion here.

It is quite telling, though, that the Gina lovers aren't even attempting to defend her. They're just hoping this thread falls off the first page.

Like the governor or not like the governor, it's likely most here could care less what's said on this thread.

[massnative71]

Originally Posted by independent man

Like the governor or not like the governor, it's likely most here could care less what's said on this thread.

Who wouldn't, or how could anybody not???

[PureBoston]

Originally Posted by independent man

Like the governor or not like the governor, it's likely most here could care less what's said on this thread.

And it's exactly this apathy toward your elected officials that emboldens them to continually abuse the Rhode Island taxpayer. Time after time, you people have proven that you've got the government that you so richly deserve. Hard to have sympathy for an electorate that refuses to defend itself.