Elaine Chao, 5/28/04: "Today’s CEO is a steward of the public trust"

[Bush_Eats_Beef]

http://www.dol.gov/opa/media/press/opa/OPA2004990.htm

"Secretary of Labor Elaine L. Chao Warns CEOs to Pay Attention to Fiduciary Responsibilities under ERISA
Labor Secretary addresses Chief Executive Leadership Institute at Yale University"

"NEW HAVEN, Conn.—Secretary of Labor Elaine L. Chao today addressed a gathering of corporate and community leaders at the 49th CEO Summit of the Chief Executive Leadership Institute of the Yale School of Management, alerting them to the importance of their responsibilities as fiduciaries of pension plans. The conference was held at the Yale Law School.

“Today’s CEO is a steward of the public trust” said U.S. Secretary of Labor Elaine L. Chao. “The time has come to move the focus of pension plan governance out of the Human Resource Department and beyond compliance with tax laws. The executive suite needs to focus on pension plan governance itself, especially the responsibility and liability of pension plan fiduciaries."

OK, repeat after me: "to-ga, to-ga, TO-GA..."



...and let's not forget that other fine steward of the public trust, Kenny Boy: