Almanac

Viewpoint - May 26, 2010

Letter: Mandelkern is best choice for treasurer

Our local school districts have felt the devastating impact of our current county treasurer's loss of $155 million in the Lehman Brothers bankruptcy. As a school board member I've had to make tough budget cuts, reduce services to our students, and lay off teachers, in part because of these losses.

I'm also a certified public accountant and an MBA. We need to elect someone as county treasurer who doesn't view the county's $2.4 billion Pooled Investment Fund as something that they must manage personally by themselves. Managing this size fund requires professional expertise that goes beyond what any one accountant or individual investor is capable of.

We need an individual who has experience in evaluating and hiring professional investment managers who will ensure safety, liquidity, and return for the investors in the fund at the lowest possible cost.

I believe that Dave Mandelkern's background in building companies in Silicon Valley and taking them public, dealing with investment bankers and managing hundreds of millions of dollars of shareholder's money, gives him the proper background and experience to provide the right leadership for the county treasurer's office.

That's why I'm voting for Dave Mandelkern for San Mateo County treasurer-tax collector.

Dennis P. McBride, President, Redwood City School District

Comments

Posted by Watch Dog, a resident of another community
on May 30, 2010 at 10:16 am

Regarding the opinion letter by Dennis McBride

If Dave Mandelkern wins the election for San Mateo County Treasurer, he will not have the budget to hire a CPA to handle the accounting, Tax and investment areas of the treasurer-tax collector's office.

Mr. Mandelkern hired CPAs and CFOs in his startup companies, so he clearly understands the importance of having the right people to do the job. Joe galligan is 30 years a CPA, BA in Accounting, MA in Taxation and he has been participating in the County investment committee meetings ever since the Lehman loss.

Dave Mandelkern has never been to an investment committee meeting.

With the current county structural defecit, we need a candidate who can do the job without any help and that candidate is Joe Galligan. www.joegalligan.com


Posted by Jack Hickey, a resident of Woodside: Emerald Hills
on Jun 1, 2010 at 4:10 pm

Where was Dave Mandelkern when San Mateo County Community College District put proceeds of Bonds in the _best game in town_, a.k.a. the county's $2.4 billion Pooled Investment Fund? What roll did he play in the outrageous, unsustainable benefit packages foisted upon taxpayers by his buddies(Teachers, Nurses, San Mateo County Central Labor Council, SEIU), the modern day robber barons.
And now Dave wants to bail out the San Mateo County Community College District with Measure G, an unprecedented parcel Tax.
Just say NO to Dave AND Measure G!
Elect Richard Guilbault Treasurer.

Jack Hickey,
Taxpayer's Advocate,
Elected Member Sequoia Healthcare District Board of Directors,
Candidate for San Mateo County Board of Supervisors.


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