Both of these individuals have fought to protect the environment and have held corporations accountable for their actions. It is about time for some accountablility.
Secretary of the Treasury- Hon. Denise Nappier
On June 3, 2000, State Treasurer Denise Nappier was recognized as the Outstanding Elected Democratic Woman Holding Public Office by the National Federation of Democratic Women. The award is presented annually at the Federation’s annual conference in Washington, D.C. to the woman who has made a significant contribution to the Democratic Party’s principles. The recipient is also required to have demonstrated commitment to the success of other Democratic women in the party organization, and supported other women for elective office.
Treasurer Nappier's high standards and financial expertise have brought integrity back to the Treasurer's office and professionalism to the management of state resources.
Her innovative and effective leadership has saved Connecticut taxpayers and businesses millions of dollars, and she is a strong advocate for corporate accountability, financial education and economic opportunity.
She is helping remake that tradition by insisting her activism is first and foremost in service of garnering the best financial return.
A native of Hartford, Denise Nappier served as City Treasurer for nearly ten years, having been elected to five consecutive terms. Before that, she served as Executive Director of Riverfront Recapture, Inc., a not-for-profit organization that successfully spearheaded the redevelopment of Greater Hartford's riverfront area, as Director of Institutional Relations for the University of Connecticut Health Center, and an analyst in the Hartford City Manager's office. She was also a consultant in the Connecticut Office of Policy and Management and a U.S. Housing and Urban Development Department Fellow.
Corporate management often questions whether activists might harbor ulterior motives beyond the company’s financial well-being. That’s where Nappier’s approach has been successful, because she bases every argument on its financial implications.
The Treasurer achieved in excess of $1 billion in investment reductions, recaptures or recoveries, implementing the most comprehensive asset recovery and loss prevention program in Treasury history.
Connecticut's pension fund investment program has been consistently ranked among the best performing public pension funds and her management reforms have saved Connecticut businesses tens of millions of dollars, reducing annual rates to their lowest levels in a decade.
"Finally, somebody was saying climate was a financial issue as well as an environmental one," says Mindy Lubber, executive director of CERES, a Boston-based coalition of ethically minded investing organizations. "It is changing the frame to say that environmental issues like global warming are business issues."
State Treasurer Denise Nappier said about $11 million in shares will be divested from China Petroleum and Chemical Corp. She said the unsettled climate and growing international pressure over the abuses jeopardize the long-term value of China Petroleum's business and, as a result, pose a risk to the state's investment in the company.
Nappier challenged Safeway Inc. to appoint more independent board members when it found itself embroiled in an ugly labor dispute in 2003. She says the workers’ long strike highlighted deeper financial problems — a situation she aimed to remedy by pushing for structural change within the company.
For three years, Nappier sponsored shareholder resolutions urging the nation’s largest producer of carbon dioxide emissions to study and report on the climatic impact of its electricity-producing plants. The company resisted, but Nappier persisted, and it finally agreed to conduct an analysis in 2005.
On October 30, 2002 State Treasurer Denise L. Nappier was honored by Citizens for Economic Opportunity (CEO) with the first Annual Corporate Responsibility Leadership Award for her determined leadership in promoting corporate accountability, the rights of shareholders and workers, and economic opportunity.
"Score one for Ms. Nappier," trumpeted an editorial headline in the Jan. 13, 2005, Hartford Courant. "Ms. Nappier has played a positive role as an aggressive advocate for change. Those changes will help restore faith in corporations after scandals in which directors sat on their hands while executives plundered some of America’s largest companies."
Connecticut Treasurer Denise L. Nappier received the Pioneer Woman Award from the University of Hartford’s Hartford College for Woman at Commencement Ceremonies held in May. The Pioneer Woman Award is given annually to a woman who has forged new paths, has been the first in her field to break new ground, or has made major contributions to the role of women in society.
Ms. Nappier holds a B.A. from Virginia State University and a master's degree in Community Planning from the University of Cincinnati.
She has received the Corporate Responsibility Leadership Award from Citizens for Economic Opportunity (CEO), the Connecticut Association for Human Services "Public Policy Leadership Award," recognition as the "Woman of the Year" from Hartford College for Women, and has been inducted in the National Association of Securities Professionals Wall Street Hall of Fame.
Excellence in financial reporting by the Connecticut State Treasurer’s Office has once again earned the Treasury the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for the 2001 Short Term Investment Fund (STIF) Annual Report and the 2001 Combined Investment Funds Annual Report.
Connecticut State Treasurer Denise L. Nappier is one of nine "remarkable women dedicated to public service" selected to receive this year’s Good Housekeeping Award for Women in Government. Nappier was cited for bringing high standards, integrity and ethics to the conduct of Treasury business and her advocacy of responsible corporate behavior. The nine winners, selected from more than 300 nominees, are profiled in the July 2003 issue of Good Housekeeping Magazine. "Treasurer Nappier initiated a comprehensive Treasury Reform plan that, among other achievements, eliminated political influence peddling and strengthened public disclosure. Her program works closely with companies that receive investment of state pension funds, encouraging both sound fiscal practices and high standards of corporate responsibility," said Ellen Levine, editor in chief of Good Housekeeping, a member of the Partnership for Trust in Government, a project of the Ford Foundation and the Council for Excellence in Government.
"She actually delivers power, economic power, and leverage for companies to do the right thing," says Tim Smith, senior vice president of Walden Asset Management in Boston and president of the Social Investment Forum, an industry association for ethically minded investment firms. "She’s really a leader, and she’s willing to take the slings and arrows that come with it."
Deputy to the Secretary of the Treasury- Jeb Spaulding
Jeb Spaulding was elected Vermont State Treasurer in November 2002. During his first term, he has emphasized continuous improvement in treasury fundamentals such as timely and accurate bank reconciliations, enhanced customer service, expanded outreach and compliance in the unclaimed property division, and proactive investment management and oversight. In addition, he has initiated a new focus in the Treasure’s Office to leverage State assets to encourage responsible corporate citizenship.
Treasurer Spaulding served eight terms in the Vermont State Senate from 1985-2000. During that period, he chaired several committees, including the Senate Appropriations Committee, the Joint Fiscal Committee, the Senate Education Committee, and the Joint Committee on Administrative Rules.
Lt. Governor Brian Dubie and State Treasurer Jeb Spaulding Tuesday jointly announced a plan to invest $48 million in state employee pension funds in Vermont’s "Green Valley" – an economic development sector comprised of businesses dealing in environmental technologies, goods and services.
Spaulding is the the past president of the National Association of Unclaimed Property Administrators.
He has been very involved at the community level, serving as a board member of organizations such as Red Cross, United Way, Central Vermont Adult Basic Education, the Washington County 4-H Foundation, the Child Care Fund of Vermont and Woodbury College.
Jeb was educated at Antioch College and the University of Vermont (B.A., 1975; M.Ed., 1993).
CABINET SO FAR- DAILY KOS PICKS
Secretary of the Treasury - Denise Nappier
Deputy Secretary of the Treasury - Jeb Spaulding
Secretary of Veterans Affairs - Former Sen. Max Cleeland
Deputy Secretary - Rep. Chris Smith