Daily Record FINANCIAL NEWS &
WEDNESDAY, JUNE 8, 2016
Vol. 103, No. 148 • Two SecTioNS
35¢ www.jaxdailyrecord.com
Pension fund has new director Board believes Johnson can repair damaged relationships
By David Chapman Staff Writer The two finalists for the Police and Fire Pension Fund executive director were seen as being almost dead even after their interviews Tuesday morning. In the end, the board went with the candidate they believed could best repair a fractured relationship with City Hall and the public. Timothy Johnson, 57, will have his work cut out for him. The
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because of his communication skills and belief Johnson could help improve the organization’s perception by working with the mayor, City Council and fund members. The fund’s up-and-down relationship with City Hall has seemed to have more lows than highs in recent years. The board has been heavily criticized for creating an illegal pension plan that let Keane and several employees accrue a more lucrative retirement.
Most recently, Mayor Lenny Curry referred to board members as “cronies” after they asked for an attorney general opinion about legal representation. The fresh start is seen as a way to mend those fences. “That will be very important for us going forward,” said Schmitt. Johnson comes from a system that is both larger and smaller in certain respects. The Allegheny system has PENSION CONTINUED ON PAGE A-4
Adam Dukes, left, and Bryce Pfanenstiel created Forge 3D Printing Studio in 2013 to make products in 3-D and partnered with Staramba USA Corp. last year to photograph and manufacture figurines of sports figures, well-known characters and customers. Here they hold 9-inch figurines, which cost $250, they made of themselves.
Creating business in multi dimensions
By Karen Brune Mathis Managing Editor Photos by Karen Brune Mathis
A Cabela’s commercial carried locally raises the question — is the specialty outdoor retailer coming to Jacksonville? Considering the nearest store to Jacksonville for the Nebraska-based chain is 264 miles north in Augusta, Ga., it’s a reasonable question. A spokesman doesn’t deny it, just as he didn’t nearly a year ago. Nathan Borowski, communications specialist for Cabela’s Inc., said in late May and again Tuesday the company has not announced any locations in Florida. “We are definitely looking at all areas,” he said, adding the company has “been looking at the Southeast pretty hard.” He said “there’s definitely the possibility” of Florida stores. That could reasonably include Jacksonville. There are three stores in North Georgia and a fourth has been announced. Another major question, though, is how a possible acquisition of the company by Springfield, Mo.-based Bass Pro Shops would affect new stores for Cabela’s. Bass Pro Shops plans to open in St. Johns County along Interstate 95 and the Florida 9B connection. Reuters news service reported in April that Bass Pro Shops partnered with Goldman Sachs Group Inc.’s private equity arm to make an offer for Cabela’s, citing “people familiar with the matter.” It said the move gave Bass Pro Shops the necessary equity financing to make a deal more likely, given the potential cost savings and synergies a combination of the two U.S. hunting and fishing retailers would bring. Reuters.com noted Cabela’s said in December it was working with the Guggenheim Securities LLC investment bank “to explore strategic alternatives including a sale, following pressure from activist hedge fund Elliott Management Corp.” Cabela’s is publicly traded and Bass Pro Shops is privately held.
Allegheny County Employees’ Retirement System head was unanimously selected by the fund’s board of trustees Tuesday afternoon, capping a national search to find a replacement for longtime fund administrator John Keane, who retired. Johnson edged out Corrine Koch, administrator for the International Painters and Allied Trades Industry Pension Fund. Board chair Larry Schmitt, who represents police employees, said he gave the slight edge to Johnson
Pfanenstiel with one of the smaller 3-D printers.
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It’s not a marketing target that Forge 3D Printing Studio promotes yet, but imagine if parents displayed three-dimensional figurines of their children throughout the house instead of those annual school photographs. It’s possible, just as a marrying couple can decorate their wedding cake with small figures of themselves, a company can design and print specialized trophies or manufacturing parts, and architects can see their designed buildings in miniature.
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Those are just a few of the many projects the Forge owners, who promote the company by the more forceful FORGE name, produce and envision at their Downtown Jacksonville offices and 3-D plant. Bryce Pfanenstiel and Adam Dukes design and print three-dimensional products ranging from Downtown bridges to architectural models to bike racks to holiday ornaments to jewelry to fist-size mosquitoes for a trade show. There also was the 2-foot-wide shark’s jaw for a memorial plaque. “It’s a lot of custom challenges,” said WORKSPACE CONTINUED ON PAGE A-7
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