Thursday
July
31
2014
12:02 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 

Check out our archive of Dining Guides - Yum!

OP-ED: State treasurer Bill Lockyer should not moonlight
December 27, 2013, 05:00 AM Contra Costa Times

We’re not clear if state Treasurer Bill Lockyer doesn’t have enough to do or he needs more money. Either way, his announcement this week that he will work part-time for a national law firm while serving the last year of his term should trouble all Californians.

The state treasurer chairs 14 state boards and 33 bond finance committees, he sits on 12 other key boards, and he is directly or indirectly responsible for the management of hundreds of billions of dollars.

The nation’s largest state deserves full-time officeholders at the top of the organizational chart, whether it’s, for example, the governor, the attorney general, the controller or treasurer. These are executive positions that hold far more than 40-hour-a-week responsibilities.

Californians should feel secure that those officials will give their undivided attention to their elected posts. And there should be no questions about conflicts of interest, or even the possible appearance of them.

That said, it’s also time to reconsider the salaries some statewide officeholders receive. The amounts are set by the California Citizens Compensation Commission. Some are way too low. Lockyer’s salary was just raised to $139,189 annually.

While that’s more than most of us earn, it pales in comparison to the income of private-sector executives with similar responsibilities. We don’t want to create a system where only those who are independently wealthy seek these critical statewide posts.

Although it’s wrong for Lockyer, 72, to take on outside employment, one can understand why he did so. He has spent more than 40 years in state elective office, including the last 15 as attorney general and treasurer. Yet, his financial disclosure statement for 2012 indicates that apart from his family’s Hayward home and a Long Beach rental unit, he owns only a mutual fund worth less than $10,000. This is not a wealthy man.

Lockyer announced last week that he was taking part-time work for an undisclosed salary with the Orange County office of the Brown Rudnick law firm. Nothing prevents him from moonlighting provided it presents no conflict. And Lockyer says it doesn’t because the firm does not lobby in California.

This is not the first time Lockyer has performed outside legal work while holding his current post. He and the Brown Rudnick news release insist the new job will not take time away from his state job. That’s hard to believe.

He should have waited until the end of his term, in a year. Meanwhile, the compensation commission should rethink the way it sets salaries for the state’s most-critical jobholders.

 

 

Tags: state, should, lockyer, treasurer, while,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What's a good rate for an hour of parking?

A dollar
50 cents
A quarter
Free
Depends on where you are

 

 
 
 
 
 
 
Area expands for West Nile fogging in San Mateo tonight
San Mateo County mosquito officials will once again fog in San Mateo Wednesday night after more mosq..
House approves VA health care overhaul
WASHINGTON — The House overwhelmingly approved a landmark bill Wednesday to refurbish the Veterans..
Probe exposes flaws behind HealthCare.gov rollout
WASHINGTON — Management failures by the Obama administration set the stage for the computer woes t..
A more vigorous U.S. economy appears to be emerging
WASHINGTON — The U.S. economy has rebounded with vigor from a grim start to 2014 and should show r..
Shelling of UN school kills 15 as Gaza war rages
JEBALIYA REFUGEE CAMP, Gaza Strip — Israeli tank shells slammed into a crowded U.N. school shelter..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
Millbrae news