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Amendment 1 supporters make their case

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BY JoANNE YOUNG / Lincoln Journal Star

Tuesday, Apr 29, 2008 - 11:10:35 pm CDT

Two politicians and a banker turned out Tuesday to show their support of a proposed change to the Nebraska constitution.

Nebraska Attorney General Jon Bruning, Lincoln Sen. DiAnna Schimek and Cornhusker Bank chairman emeritus Alice Dittman held a news conference to urge voters to mark yes on their ballots beside Amendment 1.

U.S. Sen. Ben Nelson is also a co-chairman of Amendment 1 with Bruning.

Story Photo
Jon Bruning

The amendment, on the May 13 primary election ballot, would allow broader investment authority for public endowment funds, such as Lincoln’s Community Health Endowment, created from the proceeds of the sale of publicly owned Lincoln General Hospital in 1997.

The goal for the fund is to support health-related programs or projects that further the health, safety, or welfare of Lincoln citizens.

The amendment would authorize investing of public endowment funds with care, skill and diligence, to protect and benefit the funds.

Public endowment funds are restricted to bond investments, and investing in stocks is not an option. They earn an average of about 5 percent.

Dittman said the amendment would allow for more diversification, and an average growth of around 8 to 9 percent.

Over 20 years, she said, that could mean 80 percent more money for community needs.

North Platte also has a public endowment that would benefit from the amendment. That endowment was established by farmer John Newburn, who died in 1987 and left his property to the city, requesting the money be used for park improvements.

A similar amendment was on the ballot in 2006 and failed. Bruning said it failed “because of the company it kept.”

At the same time on that ballot were a highly contested Senate race, a gambling amendment and a spending lid.

“It was so far down the list of interesting things to consider,” he said.

Schimek said the Legislature overwhelmingly supported the amendment because it makes sense.

“Amendment 1 is a winner for everyone,” she said.

Reach JoAnne Young at 473-7228 or jyoung@journalstar.com.


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Tom wrote on April 30, 2008 8:53 am:
" Schimek, Bruning and Nelson. Now there are three people I really want to trust with giving good advice. Think I will just say no. "

 Consensus - how strange wrote on April 30, 2008 9:39 am:
" If Republicans, Democrats, and the private sector can agree that something is a good idea, then it's worth checking out. "

 Again wrote on April 30, 2008 10:03 am:
" The amendment failed in 2006 because the voters said no, not because we were burden by so many other issues. The arrogance by the special people is reason enough to vote no again. Nelson champion of earmarks, Shimek diminish the petition process too nearly impossible for the voters, and legislature that support the measure because it makes sense. The amendment would authorize investing of public endowment funds with care, skill and diligence, to protect and benefit the funds, sounds like a pitch from a snake oil salesmen or the WMD’s for you Bush haters. The endorsement of this group says to vote NO again. "

 Person who cares wrote on April 30, 2008 10:59 am:
" Have any of the nay-sayers actually looked in to what the Community Health Endowment actually does for Lincoln? It sounds like they do a lot for the community's poor in the area of health initiatives, with the limited amount of interest generated on the dollars. Just think what more could be done with a higher rate of return on their investment. Maybe the stock market is down now, but it won't always be. I trust that these investors will do what's right for the endowment. I sure would not want my retirement invested only in bonds. I say vote YES. Keep politics out of it. "

 YES wrote on April 30, 2008 11:58 am:
" This would be huge for Lincoln and the state! You can sit around and bicker and complain over who endorsed it,but I'm going to look straight at the issue and decide based on the merits. In that case, it is a YES. "

 Once Again wrote on April 30, 2008 2:35 pm:
" Once again....this is how it is. We in America are a country of love. We bond as Americans. I've said this until I'm blue in the face. Americans don't hate Bush. He's a likeable enough guy if he leaves his smug smirk at home. What Americans hate very much is the Bush Job Performance. "

 MarkyMark wrote on April 30, 2008 2:46 pm:
" I see the problem now. Alice Dittmans says the Amendment would "allow" around 8 'or' 9 percent growth. What it sounds like to me is that there is risk involved and is not a guarantee, otherwise it would not say 8 or 9%. Looks like the devil is in the details. "

 Doug wrote on April 30, 2008 3:08 pm:
" So your comments tell me you are willing to vote no because of the people endorsing the proposed change? With haphazard voters like you out there, is it any wonder why the results of some of the elections in Lincoln leave one scratching their heads. Here's an idea, look at what the proposal is and don't base your vote on who's advice you trust or whether you think they are "arrogant" and that is reason enough to vote no. "

 Mike McDermott wrote on April 30, 2008 10:18 pm:
" This is more Nebraska hogwash. This is a last minute end run around the public for vested interests that aren't being disclosed. I have always loved these last minute amendments that have the intent of pulling wool over Nebraska voters. "

 JB wrote on May 12, 2008 2:57 pm:
" Really, those of you that are against this are against it for the wrong reasons. You should look deeper. Endowments do alot for many communities. For example the Community Health Endowment in Lincoln has provided funds for wonderful projects that in the end saved millions of dollars for the community. These are not tax dollars....just saving you tax dollars in the end!! "

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