FOGG Alert – February 20, 2014

CalSTRS Blew $44 Million on 8 Washington Project – Must Read Article!!

Joe Eskenazi, staff writer and columnist for the SF Weekly News, has written a devastating article on how the California State Teacher’s Retirement System (CalSTRS) blew $44 million on Simon Snellgrove’s ill-fated 8 Washington Street high-rise luxury condominium project.

Joe’s right on article can be read at this link.  SF Weekly Article

If it weren’t so sad one can see the humor in Joe’s article.  This waste of pension fund money on the 8 Washington project will likely keep going.

To our FOGG teacher supporters, and whoever wishes to, please express your thoughts on why CalSTRS continues to spend retirement funds on this development so opposed by the SF neighborhoods.

Please write to Mr. Harry M. Keiley, Chair, Teacher’s Retirement Board Investment Committee, California State Teacher’s Retirement System (CalSTRS), 100 Waterfront Place, West Sacramento, CA 95605.

Here is the link to Mr. Keiley from the CalSTRS website.  Keiley Profile

And a big thanks to Joe for his fine and incisive writing.

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