WDMC Meeting - 08 May 2006

WDMC Monthly Meeting - May 2006
The monthly meeting of the Wake Democratic Men's Club (WDMC) was held on May 8, 2006 at the Clarion Hotel on Hillsborough Street in Raleigh. Registration commenced at 6 PM, followed by a sit-down dinner at 6:30 PM. The meeting was well-attended by Club members, Democratic elected officials and candidates for office, and other interested Democrats.

Club President Richard Rudy convened the meeting shortly after 7 PM. The Hon. Aaron Fussell then led the audience in the Pledge of Allegiance, followed by a short prayer. Next, President Rudy individually recognized all office holders, office seekers, and new Club members in attendance. Each person so recognized was given the opportunity to say a few words to the Club. Upon the conclusion of the "special guest" portion of the meeting, President Rudy introduced our guest speaker, State Treasurer Richard Moore.

Guest Speaker: Treasurer Richard Moore
Our guest speaker this evening was the Honorable Richard Moore, State Treasurer of North Carolina.

Richard Moore brings strong credentials to the State Treasurer's job. He graduated from Wake Forest University and WFU Scool of Law. He holds a graduate degree in Accounting and Finance from the London School of Economics. He served in the NC House of Representatives with fellow WDMC Club members Aaron Fussell and Bob Hensley. Prior to serving as State Treasurer, Richard Moore served as Secretary of the Department of Crime Control and Public Safety under former Governor Jim Hunt. Treasurer Moore has applied his knowledge and skills to help help make the North Carolina pension system one of the best (according to an April 2006 Wall Street Journal article) publicly-financed pension systems in the entire United States.

Treasurer Moore thanked Club members for helping build a strong North Caroliona Democratic Party. He emphasized the need for a strong party organization if a candidate is to run a successful statewide campaign. Treasurer Moore then spoke on the following issues.

• North Carolina Retirement System
• Raising the Minimum Wage
• Unclaimed Tax Refunds
  

North Carolina Retirement System
Treasurer Moore devotes a good chuck of his on-the-job time to this important issue. In tough economic times where tax revenues are down 7% and the General Assembly had crafted a budget based on a 5% increase in tax revenues, the Wall Street Journal, in an April 2006 article, found that North Carolina has one of the top-performing pension funds in the country. As State Treasurer, Richard Moore is the sole fiduciary of our state pension system.

There are 7,000 participants in the pension fund. Employees of all level of government in North Carolina participate in this fund. As a result, Treasurer Moore has tremendous leverage with the managers of mutual funds and money market funds to keep costs down and make financially prudent investments. He noted that since the mid-1980s, the General Assembly has fully funded the pension fund. There is thus no need to borrow money to fund past-due contributions. Treasurer Moore stated that our public pension system is in "great shape," due largely to the efforts of concerned Democrats across the state.

Raising the Minimum Wage
For the past 67 years, a minimum wage has been in effect in North Carolina. This is the "bottom," or lowest wage that most employees may be paid. Unfortunately, as Treasurer Moore pointed out, the current federally-mandated minimum wage of $5.15/hour is no longer a living wage. In other words, the cost of living in our society has eclipsed the ability of the minimum wage to meet that cost. An employee paid at the minimum wage is simply not able to support himself, let alone his family, at even a humble standard of living. A person paid the minimum wage earns only $893/month. A person just can't live on such a small income. There are over 100,000 people in North Carolina earning only the minimum wage. And of these individuals, 20% are the sole wage earners for their families.

With the Republicans in control of Congress and George "Give Big Business Whatever It Wants" Bush as President, it is highly unlikely an increase in the minimum wage will be passed at the federal level. Treasurer Moore stated that 22 other states have raised the minimum wage, and it's time for North Carolina to do the same.

Treasurer Moore has talked to the business community in our great state. He has heard the alarmist mantra "But raising the minimum wage will cost us jobs!" What the business community conveniently ignores is that increasing the minimum wage puts more money into the pockets of our state's low-wage consumers. What would these consumers then likely do with this additional income?? That's right, spend it on products and services offered by the business community! So, it is actually in the best interest of North Carolina businesses of all sizes to support an increase in the minimum wage right here in the Tarheel State.

Another point Treasurer Moore made is that maintaing the minimum wage at its present unrealistically-low level is equivalent to business subsidizing its workers in the form of increased government services. This takes the form of housing vouchers, food stamps, subsidized medical care (e.g. Medicaid), low-interest loans, Pell Grants (for higher education), and a whole host of other income-based programs. These subsidies are funded by our tax dollars, tax dollars all of us - business incuded - pay. Treasurer Moore believes a proposal to increase the minimum wage should have broad bipartisan support. But regrettably, most Republicans in the General Assembly continue to oppose the effort.

Unclaimed Tax Refunds
It's not often that a veritable Santa Claus graces a meeting of the Wake Democatic Men's Club. But, that's exactly what happened at this meeting!

Treasurer Moore informed the Club that his office has stewardship of more than $1 billion dollars - that's billion, or a one followed by nine zeroes - in unclaimed cash. This is money the State of North Carolina owes to various individuals and businesses. In 2005, this fund of unclaimed cash accrued over $30 million dollars in interest. The interest is used to provide financial assistance to North Carolina college students.

On a more personal level, Treasurer Moore said he is "shamelessly" trying to give people their own money back. He has even gone to shopping malls, laptop in hand, trying to locate the rightful recipients. As a matter of fact, it turns out that some illustrious Democrats are owed money! Treasurer Moore read the names of all Club members so owed. Included in this list are Rufus Edmisten, Doug Boyd, Sid Eagles, Monica Bousman, and Gerry Bowles. All that need be done to claim your money, folks, is to fill out a short claim form, of which Treasurer Moore just happened to have an ample supply :-).

We thank State Treasurer Richard Moore for addressing the Club this evening. We are convinced he is a fine steward of the state's monies and are pleased to offer him our unqualified support.

Club Business
President Rudy presented some business items for consideration by the Membership.

1. Pete Leary informed the Club that as per the Bylaws and announcements at prior meetings, elections for Club offices would be held tonight. Installation of officers and directors will be held in June.
   
   
2. Pete presented the "official" slate of candidates. Nominations were also accepted from the floor, although none were made. The official slate of candidates is as follows.

   WDMC Officers 2006-2007
   President Richard Rudy (second term)
   1st. Vice President Bob Hensley (second term)
   2nd. Vice President  Pete Leary
   3rd. Vice President Heman Clark,  Lifetime Honorary VP
   3rd. Vice President Brian Anderson
   Secretary Jay Sable
   Acting Treasurer Brian Anderson

   WDMC Board of Director Members 2006-2009
   Nixon Alexander
   Boyd Bennett
   Ronny Condrey 
   John Shaw
   Ed Terrell

   Brian Anderson will be looking for a Club member to serve as Club Treasurer on a permanent basis.
   
   

3. The slate of candidates was unanimously approved via voice vote.
   
   
4. Installation of Club Officers and Directors will occur at the Club's June 12, 2006 monthly meeting.
   
   
5. President Rudy informed those in attendance that while 50 people RSVP'd to him that they'd be enjoying the pre-meeting sit-down dinner tonight, only 35 people actually showed up and paid for dinner. This is not good, folks. The Club needs to pay the Clarion Hotel for the cost of all dinners reserved. The shortfall resulting from the non-attendees is paid from Club funds. So, if you RSVP for dinner, be there to enjoy the dinner! 'Nuf said.
   
   
6. The Annual Reverse Raffle will be held on June 17, 2006 at the North Carolina State University Faculty Club. Magician and comedian Tim Dumas will provide the entertainment. Tickets my be purchased by contacting Max Adams at 919-878-2063. Tickets will also be on sale at the Club's June 12, 2006 meeting.
   
   
7. Ronnie Condrey reported that Judge Heman Clark continues to recover at home from injuries he suffered in a fall in 2005. Judge Clark is now able to walk with the aid of a walker. He expects to join us at the Club's June 12, 2006 meeting, at which time he'll likely need only a cane to remain mobile.

   We all miss Judge Clark and pray for his speedy and full recovery. We also thank his wife Mary Jane for the regular updates she has provided on Judge Clark's condition.
   
   

8. Wake County Democratic Party Chair Keith Karlsson spoke briefly about the large cost of electing Democrats to public office. He asked those in attendance to consider financially supporting our Democratic candidates to the extent we are able.
   
   
9. Richard Rudy drew the winning raffle ticket. The winner was Ed Ridpath. Ed, who is running for the NC House of Representatives in House District 37 and needs our support, generously returned his winnings to the Club.
   
   
10. The meeting adjourned at approximately 8 PM.
    

Submitted by Jay Sable, WDMC Secretary, sablejb@nc.rr.com