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Prominent Bipartisan Lawmakers Speak at Cities & Debt Briefing

September 13, 2010

  Prominent Bipartisan Lawmakers Speak at Cities & Debt Briefing

       Philadelphia Mayor Michael A. Nutter, NJ State Treasurer Andrew
 Sidamon-Eristoff and NY State Comptroller Candidate Harry Wilson to Examine
                     Municipal Debt Crisis and Solutions

Business Wire

NEW YORK -- September 13, 2010

In the midst of a widespread municipal financial crisis, key policy leaders
and market players will address the challenges municipalities are facing at
the Bloomberg Cities & Debt Briefing on September 15^th at 92YTribeca in New
York City.

Influential voices in public policy, including Michael A. Nutter, Mayor, City
of Philadelphia; Andrew Sidamon-Eristoff, Treasurer, State of New Jersey; and
Harry Wilson, Former Advisor, Presidential Auto Task Force and Candidate for
New York State Comptroller 2010, will discuss the fiscal issues their home
states and cities are addressing. Respectively,

  * Nutter will discuss reigning in the budget deficit in Philadelphia on the
    heels of the recession;
  * Sidamon-Eristoff will address Governor Chris Christie's legislation that
    he is unveiling this week that aims to reduce the state's $46 billion
    pension deficit by scaling back benefits and suspending cost-of-living
    increases; and
  * Wilson will report on New York’s pension funding shortfall and reform on
    the campaign trail.

"Cities are still managing significant fiscal challenges even while the
economy is beginning to recover. In response to the recession, Philadelphia
has sought to balance maintaining services and the City's tax realities," said
Mayor Nutter. "Municipalities must continue to promote a dialogue and
encourage the federal government to recognize the difficulties cities are

Bloomberg’s full-day program will also convene bond investors, pension
managers, municipal debt issuers, asset managers and other policy makers to
discuss topics, including the scope of the municipal crisis, innovative ways
to address pension obligations, and opportunities for investors in the muni
market. Additional speakers include:

  * Arthur Levitt, Jr., Former Chairman, U.S. Securities and Exchange
  * Howard J. Cure, Director of Municipal Research, Evercore Wealth Management
  * Fernando Ferrer, Former Borough President, The Bronx, New York
  * Kenneth E. Goodreau, Chief Investment Officer, Department of the General
    Treasurer, Rhode Island
  * Peter J. Hayes, Managing Director and Head of Municipals, BlackRock Inc.
  * David Leininger, Chief Financial Officer, Dallas Area Rapid Transit
  * Dean Martin, State Treasurer, Arizona
  * Brian Mayhew, Chief Financial Officer, Bay Area Toll Authority
  * James L. McIntire, State Treasurer, Washington State
  * Chriss Street, Orange County Treasurer
  * Mark R. Zehner, Deputy Chief, Municipal Securities and Public Pensions
    Unit, U.S. Securities and Exchange Commission

As part of the program, Bloomberg will release a 3-year ranking of state
pension funds based on the percentage of plan assets that are available to
fund projected benefits. The data has been collected from state reports and
additional information gathered by Bloomberg.

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Angela Martin, +1 212-617-1211