Projo's front page article says its not clear if I am running for Treasurer or not. This professional organization called me Monday to ask what my platform was and they wanted to ask a series of Questions profiling the Treasurers race. The conversation was about 60 seconds in length.
Projo Paul Parker : "mr riley?'
me(mgr) : yes
Projo: "i have been asked to get a profile of you and your platform. I have 4 or 5 Questions to ask you for tomorrows paper"
mgr : " are you serious? you know your Paper endorsed my opponent 2 weeks ago?
Projo : " yes . nevertheless can you please answer the following questions."
Mgr : " you know what? I'm busy give me a call next Wednesday November 7th"
So,that was it. 60 seconds.Of course I was again angry at the purposeful or incompetent obliviousness of the States only newspaper.Two weeks after they endorsed my opponent? 6 days prior to election? They contact me for the first time? How does this fit their role in Elections and informing voters? I am a workaholic and passionate money manager working 10 to 12 hours a day for 40 years. I've extremely busy lately managing my funds risk in turbulent markets. My fund is up 2% for October and +8% for the year. The current treasurer lost it all this month and is now negative for 2018 . 10 month return negative. Sucks right? I was insulted by this paper 's half-assed attempt at serving the public. Surely they wouldn't have anything to write after a 60 second interview.. Fine leave me alone. I am busy with this crazy market that the world sees but all of RI media is oblivious to.
The next day front page Providence Journal
10/31/2018 R.I. treasurer's race: Incumbent's running, but it appears challenger has walked away
http://www.providencejournal.com/news/20181029/ri-treasurers-race-incumbents-running-but-it-appears-challenger-has-walked-away 1/4
By Paul Edward Parker
Journal Staff Writer
Posted Oct 29, 2018 at 11:13 PM
Updated
Oct 29, 2018 at 11:13 PM
PROVIDENCE, R.I. —
In a year when a gubernatorial candidate admits he once
smacked a teenager who would grow up to be House speaker and a candidate for
attorney general was recently charged with possessing 48 pounds of marijuana,
the race for general treasurer may still be the strangest on this year’s statewide
ballot. Incumbent Democrat Seth Magaziner has touted a list of what he calls
accomplishments in his first four years in office.
Meanwhile, Republican challenger Michael G. Riley has told people not to
donate to his campaign because he won’t win. He issued a profanity-laced
indictment of Rhode Island’s pension system in which he blasted local radio,
television and newspapers and said Election Day “represents the last time I will
have attempted to help Rhode Island or frankly any government save themselves
from their own incompetence.”
When asked to discuss his campaign issues this week, he told The Providence
Journal that he preferred to do so after next Tuesday’s election. “Let’s do it next
week,” he said. “I was thinking next Wednesday or Thursday.”
In his screed against the media and the state pension system, Riley said he was
thinking of beating up the head of one of the statewide teachers unions for his
role in the state’s landmark pension overhaul, in which Riley said the union
failed its teachers.
“If I were a teacher, I would drag him into an alley and kick the crap out of him,”
Riley wrote on Sunday in his Rhode Island Shrugged blog on Blogspot. “In fact I
may do it anyway for them because it would be fun.”
R.I. treasurer’s race: Incumbent’s running, but
it appears challenger has walked away
10/31/2018 R.I. treasurer's race: Incumbent's running, but it appears challenger has walked away
The Associated Press reported Monday that Riley said he’s not serious about
that.
The state Democratic Party called for Riley to apologize. “Political discourse in
our country has become dangerously overheated,” the party said in a statement.
The Rhode Island Republican Party chairman said the comments were
inappropriate.
In September, Riley issued a statement asking people not to volunteer for his
campaign or give it any money, saying that he’s “facing an obvious uphill battle”
in his race. “Please do not contribute your hard-earned money as my chances are
very slim.”
Riley unsuccessfully challenged Rep. Jim Langevin in the 2nd Congressional
District in 2012 and lost a 2010 race for state Senate. He hasn’t held elected
office.
Magaziner was first elected general treasurer in 2014, beating former state
auditor general Ernest Almonte and succeeding Gina Raimondo, who was
elected governor that year. Magaziner had never held elected office, but comes
from a political family. His father, Ira Magaziner, was a chief adviser to President
Bill Clinton.
Before being elected, Seth Magaziner had been an investment professional, most
recently with Trillium Asset Management LLC in Boston.
“For me, this is an election about what the role of the treasurer’s office is,”
Magaziner told The Journal. “My priorities really are to find ways to use the
office to promote economic growth, bring jobs back to the state.”
Among the initiatives Magaziner cited as ways in which he has promoted
economic development, he listed his BankLocal program. Magaziner said that he
moved millions of dollars of state money deposited in out-of-state banks to local
banks and credit unions. That allowed a small-business loan program to make
loans to more than 200 people, he said.
10/31/2018 R.I. treasurer's race: Incumbent's running, but it appears challenger has walked away
- He also touted his chairmanship of the Rhode Island School Building Task Force, which has recommended that the state borrow $500 million over 10 years to pay for school repairs. The first portion of that borrowing, $250 million, will go before voters on Tuesday. Magaziner said the borrowing would create construction jobs and bring improvements to school facilities. Magaziner also pointed to his work on how the state invests the money in the Employees’ Retirement System of Rhode Island, which covers state employees, as well as many municipal workers. “We’ve made some very significant improvements to the pension system,” he said. “The system’s getting healthier.” He acknowledged that part of that is because the stock market has been doing well for the last several years. “Not only have we been making money, we’ve been beating our benchmarks.” He attributed that to his “Back to Basics” policy of how the state chooses where to invest the retirement fund. He said the state has moved from high-fee hedge funds to low-cost index and bond funds. He also pointed to less-financially-oriented initiatives, including his support for a bill two years ago to help victims of domestic violence. The Crime Victim Compensation Program, which his office administers, can now pay some relocation expenses for people fleeing their abusers. “We can cover hotel-room stays,” he said. “We can cover the first few months of rent.”
- General treasurer candidates
- Seth Magaziner Residence: Providence
- Age: 35
- Party: Democratic
- Previous political office: Incumbent general treasurer
- Education: Bachelor’s in history from Brown University, master’s in business administration from Yale University
- Family: Wife, Julia
Michael G. Riley
- Residence: Narragansett
- Age: 62
- Occupation: Financial adviser
- Party: Republican Previous political office: Narragansett Pension Board, chairman of Narragansett Charter Review Commission
- Education: University of Connecticut
