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May 11, 2017
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A Sad Farewell to Rich Ferlauto from Tom Croft

Dear H,
We are extremely saddened this week to hear of the passing of Rich Ferlauto. Rich
most recently co-founded the 50-50 Climate Project, and before that was a staff
member at the SEC. He notably launched and led the AFSCME capital stewardship office
for many years.
I've known Rich for over two decades, and though I only saw him infrequently, I
can say that he was one of the most cheerful, optimistic, vigilant warriors for
worker justice, good corporate governance and retirement security that I've ever
met.
Many years ago, I spent three days with Rich (and some other scruffy activists)
at Blue Mountain Lake, an organizing retreat. Those were the days of Rich's rabble-rousing
at the Center for Policy Alternatives (CPA), and back then he was leading a charge
to get state pension funds to adopt economically-targeted investment (ETI) programs.
We've included a short memory of Rich from a friend at Responsible Investor [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4auV61RCykgswdcLbMrdMK9As7HRuXRqIA6JciazO7ssj4tSBkMFFlEHPyXHpHgB9-VoJOCjMU5WGIgG9iau4RmovzOfo5TAc595fscfDuao8lFB0Ftm57ISq-Hvyv68SkscKC3j_7afQc--NfeZQlAjIBj-cVI63h7C2q2ywkCTOEo4bxkoRBVbNjrMxDZzEY9gTIbLlxpuKYAw0NVml4SY=&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==]
and his obituary posted in the Washington Post [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4auV61RCykgswRClo31YdNNlDJw_cK8WvE3wsoIrwvFfnrt16grIjZWZfPBRijFI75bxGSDc_UDSW_RxIcUojrhVYCAfPRgcCBDOKreGpR6xAs25i_8rJ0rNJt845gNOGLchoO3vAez9aZ31e1Ayr7bjE7NERfpcDj7YWYWPc8xXhKhzx5OT489jWmvimORS9P24beZ-7YS8rizXzLBwNeoF9d7pYg95LtGXlEHGTGU1sTvVkrQWOM5U=&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==].
If you want to read more about Rich, simply google his name and the word "outrageous."
You'll find a slew of quotes from Rich, as that was his favorite word in describing
attacks on working families or corporate abuses (as in, "This is completely outrageous!").
Farewell, friend.
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LINKS OF
INTEREST

Heartland Capital Strategies [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4ahrBBn6FO6CPT5wvqiaJFP9kP2D86i6wq0izkeWCJriW2ixKjWJ-dlYHj-AA0p2ZjRMLdSHBmKmff98HdznC7y_o2NTLQykJEm5MIWRwYonuyc7ahACFglbyFsIyTj5Ytw==&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==]
Responsible Investor Handbook [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4amLS8icKEBicVhUKvrqpuunEU4HvTlXPrhcm7_YB-jpx1Lr0CCK-6uKeqne0kKjuz5NJwN7xt94__aCiIaWpavjH2Z9OG0f9pV9RSPjGVhly7L2znTMcTfd-cbqPM0XQOHxUizGXO3CyFMYOaeJpPoondU46l-eIy8162ROL2MtH&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==]
HCS Events [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4ap72PKEZYwPaOgn2wwI_YcktWSfqyxbO4KV-ty7-cP_quASw9G8lXnYdwGk7FkURd4MzjFRQ_DbCYoEsubbGuBZ54kKhOHnwaNrBUtw_t589cZKDpmCJ37zuSthodoCe8Q==&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==]
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ECOSYSTEM PARTNERS

Sleigh Strategy, LLC
Robert Samuel
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Another Injudicious Victory Lap for Republicans
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Last week, the news was dominated by the House's vote to kill the Affordable Care
Act (ACA) - you can see their happy dance below. This week, the Senate senselessly
voted to snuff out a new generation of state-sponsored retirement programs, which
were about to launch in seven states (and are under consideration in many more).
According to the LA Times, "The accounts are intended to help build financial security
for some 55 million workers nationwide whose employers do not offer a retirement
plan." The programs were reportedly targeted for execution by Wall Street firms
and the U.S. Chamber of Commerce. President Trump is expected to sign the measure
that will dash hopes for possibly millions and make people poorer.
Why Are These Guys Celebrating?
Retirement security champions like Teresa Ghilarducci and Kathleen Kennedy Townsend,
of the GU Center for Retirement Initiatives, had long been supporting this fresh
new idea. Teresa was the main architect of this broad approach, known as guaranteed
retirement accounts (GRA). As proposed by Ghilarducci, it would "borrow the best
features of defined-benefit and defined-contribution plans, including guaranteed
retirement benefits that last a lifetime, low administrative costs, and steady contributions."
As we mentioned in The Responsible Investor Handbook, this was a welcomed innovation
to address the troubling decline in retirement security.
In such plans, low-wage workers who otherwise would not have a pension plan "can
watch their benefits grow each year as an account balance, but the assets that
secure the benefits are held in a pooled trust" (Williams Walsh, NYT, 2012).
States like California and many others will continue the fight for the right to
retire in dignity. We applaud them.
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State Bid for Retirement Savings Plan is Blocked
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A pioneering, California-led effort to create retirement security for low-income
workers has been thrown into jeopardy after the U.S. Senate voted Wednesday to
block states from starting programs to automatically enroll millions of people in
IRA-type savings plans.
The measure, aimed at stopping the fledgling state retirement programs, now goes
to President Trump, who has vowed to sign it.
That leaves lawmakers in California, Illinois and other states, who only months
ago were celebrating the success of their long-planned initiative, scrambling to
regroup. The Senate voted 50 to 49 to stop the state plans.
The retirement programs, which were about to launch in seven states and are under
consideration in many more, were targeted by Wall Street firms and the U.S. Chamber
of Commerce. [READ MORE [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4auV61RCykgswwkOHHfGR9D1VVR2f9aWWOkm1IPXJSOIewfJw4-KRDVsMzNfj55xItGw-hCapymaJGNhvKRlmGAlVk3n4vwHncN4H542B1vFErSlXp6GwgAKTPWlt0rHzyDRK-xbm9Dm_O26q0iF7RxxBurC2JEI4KgVHcNuwLyWKvRdpxl-gxUAA6WzPQnE_fk-9Ocths_y16wd9eLCEj7he4TVvW9MgByjsQfZfNkTI&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==]]
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Heartland Capital Strategies [http://r20.rs6.net/tn.jsp?f=001HA56Wuos2gAzFa0gsiwyKeNE6OdUP1RBcroIQw8AUXXn-023LN-4aikhGeafDrXI8l6WZRrjpauJ93Y1b3Zs44hLswNwe8rCbw9Kc_eQFM2ImE8quxDVRqjeJou9Ct5QNipvLquI0bsrHtakDExCxNX93VHMnFPtY75yb7Iw5QTHQsv-5NrocA==&c=SVygj5ZvYdYdIAt7jsVFnSen1HaiGsOKeeV0PgOjARVczxR5qnldYA==&ch=q4a90Bj2INbhh7ptB3-wJA_0L3Jt5IylamKE9Z5b3es1-k7uqNDuuw==]
fosters a "Community of Practice" for responsible economic impact investments. Heartland
promotes strategic responsible investments to rebuild the rebuilt environment, renew
the industrial commons, grow the clean economy, and make the boss more accountable.
Inspired by the United Nations Principles for Responsible Investment (PRI), Heartland
Capital Strategies (HCS) promotes investments and projects essential for revitalizing
our productive economy and community prosperity.

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