"Some of the words and phrases I used during a recent conference to make certain points were clearly wrong and I shouldn't have made them," he said in a prepared statement. "I realize this kind of language has no place in our company or industry. I sincerely apologize."
Further, the Haverhill Massachusetts Retirement System, which has about $200 million in total assets, expects to address its next steps in an upcoming board meeting in November. Public retirement plans are subject to state law, and the boards that govern them are fiduciaries — even though the federal laws that apply to corporate 401 plans don't apply to them.
"There are a lot of quantitative and qualitative factors that are reviewed before deciding to remove someone," said Marcia Wagner, founder of The Wagner Law Group in Boston. "It isn't a snap decision."The research plan fiduciaries undertake before firing an investment manager include analyzing fees and performance and determining how that manager fits within the overall asset mix at the plan, said Wagner.
Because the whole thing is just a strategy to attack Republican donors’ business interests by inventing offenses and faking outrage? It’s led by a democrat who’s trying to raise his profile. Fisher essentially said it would be stupid to walk into a bar and proposition a woman.
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