Bill King, former Republican candidate for mayor of Houston and a columnist for the Houston Chronicle, was the featured speaker at the August 10 luncheon meeting of the Houston Mortgage Bankers Association. King, a partner in the tax firm Linebarger Goggan Blair and Sampson, was accompanied by Alison Leland, Director of the Bonner Leaders Program at the University of Houston and an instructor of political science in the Honors College, and Brinda Penmetsa, an Honors College student majoring in finance.
King’s presentation, entitled “The City of Houston’s Deteriorating Financial Condition: Can Houston be another Detroit,” detailed his concerns about the potentially negative financial impact of maintaining the city’s employee pension plans in their current forms. According to King, the existing plans may be financially unsustainable in the future and he recommended they be converted to defined contribution and defined benefit plans. He confirmed that most of his proposed changes would require approval by the Texas Legislature.
“Bill King’s knowledge of municipal finance issues is unparalleled, and we were honored to have him address our group,” said HMBA president Greg Burkett. “His in-depth presentation definitely gave everyone in attendance food for thought on this important issue that affects all present and future Houstonians.”
HMBA upcoming events include a “Distinguished Producer Panel Discussion” to be held on September 27 at Stewart Title, 1990 Post Oak Boulevard. The next monthly luncheon meeting will be held on September 14 at Maggiano’s and will feature Steven P. Lufburrow, President and CEO of Goodwill Industries of Houston. Please visit http://www.houston-mba.com/ for more information.