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State Treasurer Candidate Hits the TV Airwaves

by Christine Stuart | Apr 2, 2014 11:08pm
(3) Comments | Commenting has expired
Posted to: Election 2014, Media Matters

It’s that time again. Spring. When political candidates start vying for delegates and in the case of Republican candidate Bob Eick — television spots.

Contributed photo In his first 30-second commercial Eick, who is running for state treasurer, asks: “Want to see scary? Look how poorly Connecticut’s pension funds have performed.”

Standing in the shadows, Eick is lit only by a flashlight. For those unfamiliar with the Ridgefield candidate, he was a producer and financial backer of the 1999 movie “The Blair Witch Project.”

“I know I can do better than current State Treasurer Denise Nappier,” Eick tells voters. “For 15 years she made this mess. But all Connecticut taxpayers own it . . . I’m a professional financial manager — not a career politician — so don’t be scared. I have the experience to fix this mess.”

According to a spokeswoman for Eick’s campaign, the ads will air on Connecticut stations, Cablevision, and CT Interconnect. The ad buy will be roughly $30,000, she said Wednesday.

While the ad takes aim at the current Democratic State Treasurer Denise Nappier, Eick will first have to compete against Trumbull First Selectman Tim Herbst for the Republican nomination.

The two, according to a recent article in Hearst newspapers, have exchanged barbs over each other’s qualifications to oversee more than $50 billion in public assets.

Earlier Wednesday, J.R. Romano, Herbst’s campaign manager, released a statement pointing to the $10,500 in campaign contributions Eick made to former U.S. Sen. Chris Dodd, the once powerful chairman of the Senate Banking Committee.

“Chris Dodd allowed big banks and government institutions to wreck America’s economy in 2008, wiping out the savings of millions of Americans and thousands of Connecticut families,” Romano said. “Bob Eick made millions on Wall Street and he shared his winnings on the man who wrote the rules of finance.”

Eick has taken aim at Herbst’s management of Trumbull’s pension funds, which are only 32.5 percent funded, according to the recent Hearst news report.

Jack Orchulli, the former fashion executive who ran for state comptroller and had planned to run for state treasurer, already dropped out of the race.

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(3) Comments

posted by: LevelHeadedandObjective | April 3, 2014  1:23am

Fabulous candidate.  Finally. Some one who is capable.  And oh. BTW.  Linda. McMahon.
Raises money for. Herbst.  race and she gave hundreds of thousands for. 
Democrats.  This guy can win.  Good wishes to him

posted by: perturbed | April 3, 2014  6:01am

perturbed

It only took 30 seconds to realize Bob Eick is dishonest. Why in the world would anyone want a dishonest state treasurer? (Remember Denise Nappier’s predecessor, Paul J. Silvester? Ex-Treasurer of Connecticut Tells of Life in Jail

As Bob Eick’s voice over “You want to see scary? Look at how poorly Connecticut pension funds have performed.” But the CT Post headline that goes along with that bogus claim is about the state’s unfunded pension liability. That’s dishonesty. The pension fund investment performance has been just fine under Denise Nappier, and the unfunded pension liability was absolutely not caused by poor investment performance. It was caused by the state refusing to fund it properly.

Denise Nappier has been capturing what the market has offered. If Eick claims he can do better, we should be afraid. Very afraid. (Would he propose more heavily investing with his hedge fund buddies with exorbitant fees? What would be in it for him?)

Then he invites his audience to “Look up our unfunded pension liability.” An honest person would not pretend the state treasurer is responsible for the state’s unfunded pension liability. “For 15 years she made this mess,” he claims. That’s an outrageous lie. The state treasurer does not control how well the state lives up to its obligation to fund the state’s pension funds. Politicians do.

Bob Eick may not be a career politician, but he’s already perfected the dishonesty part of the job.

-perturbed

posted by: JAM | April 3, 2014  2:44pm

Perturbed,
Agree that Nappier has managed what she has reasonably well. And I agree that underfunding is what led to today’s serious shortfall.
However, what Nappier is guilty of is letting this problem reach crisis levels without sounding a loud, clear, and constant warning. She should ( and this also true of Wyman when she was Comptroller ) have shouting from the roof tops about what was going to happen, and bringing pressure on the Legislature to change their practices.
The fact is she chose to not rock the boat, and go with the flow to avoid getting people PO’d at her.
Good for her longevity, but a complete failure of her responsibilities to the citizens of CT.