I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
Connecticut on Monday fired Aldus Equity Partners, according to that state’s treasurer who was quoted in the New York Times.
It was another bit of bad news for the Dallas-based Aldus, coming only a few days after Gov. Bill Richardson ordered the New Mexico State Investment Council (SIC) and Educational Retirement Board (ERB) to fire Aldus, citing the firm’s role in a widening investment scandal in New York.
Aldus’ founder, Saul Meyer, also found himself indicted last week by New York’s Attorney General. Among the allegations: in exchange for increased business in New York, Meyer helped the son of the New York state comptroller win a lucrative contract in New Mexico for a firm he was representing.
That allegation further tied New Mexico to the massive scandal that is rocking New York and spreading across the nation.
Connecticut’s state Treasurer, Denise Nappier, cited that scandal as a reason for firing Aldus.
Here’s an excerpt from the New York Times:
In Connecticut, Aldus was hired in June 2008 to manage $65 million that was invested in a number of small and emerging growth private equity funds. While neither New York nor federal prosecutors have cited problems in Connecticut, Ms. Nappier said that because of continuing investigations elsewhere Aldus “cannot remain focused on its Connecticut engagement” and added “that is the reason for my taking this action at this time.”
Ms. Nappier also announced additional disclosure requirements for all pension fund middlemen and advisers. “Let me be clear,” Ms. Nappier added. “We have no tolerance for ‘pay to play’ in Connecticut,” referring to the common term for hidden placement fees to these intermediaries.
