On the heels of NC State Treasurer Janet Cowell receiving criticism regarding possible conflicts of interest involved in the state pension fund’s investment in Facebook’s IPO (and subsequent lawsuit), today we receive news that the State Employees Association of North Carolina (SEANC) is refusing to make an endorsement in the race for state treasurer.
The fact that SEANC isn’t endorsing Cowell has to be a major blow to her re-election campaign. Cowell has had oversight over the retirement pension of state teachers and employees during the last four years. Surely, a position that important to the financial security of SEANC members is worth weighing in on with an endorsement, yet SEANC is mum this year.
Is the recent Facebook controversy a contributing factor to SEANC’s refusal to endorse Cowell?