pennies.art
November 29th, 2005Penny-wise, but pound-foolish?
A recent Scranton City Council decision to “save at least $140,000 in annual fees by selecting Mellon instead of Morgan Stanley” to handle its Pension Funds, ignores that Morgan Stanely has out-performed Mellon by more than 3% over the past three years. Although the fees are higher, the city stood to make $1.4 million more.
Oh, well. At least Doherty didn’t get what he wanted, right?!!?
The Times-Tribune - News - 11/29/2005 - Mellon wins deal with city in a reversal
