“Main Street, not Wall Street” cross-state motorcycle ride announced by Dale Folwell, CPA

For Immediate Release                                                                     Contact:  Frank Lester

November 1, 2016                                                                                              336-757-0510

“Main Street, not Wall Street” cross-state motorcycle ride announced by Dale Folwell, CPA

(Winston-Salem, NC) – The Folwell Committee today announced that Dale Folwell – candidate for North Carolina Treasurer – will leave on a cross-state motorcycle trip visiting as many counties in the state as possible prior to next week’s election. The motorcycle ride will bring the campaign’s message to the far corners of the state.

“I’m applying for the job of N.C. Treasurer for the people of Main Street, not Wall Street,” said Folwell. “The state’s treasurer should preserve and protect the state’s pension and healthcare plans for participants, and be the keeper of the public purse for the people – not Wall Street bankers and lawyers.”

Mr. Folwell’s opponent, Raleigh-lawyer Dan Blue, III, has come under recent criticism for holding fundraisers in New York, New Jersey and California. During the third quarter alone, Mr. Blue raised half of his campaign’s funds from out-of-state, much of it from financial services and legal interests in New York and California. 

In stark contrast to the Blue campaign, the Folwell Committee for N.C. Treasurer raised nearly 100 percent of its funding in-state from North Carolinians. The campaign held no fund raisers out of state.

Mr. Folwell is a well-known motorcycle enthusiast. He was a motorcycle mechanic prior to earning his Undergraduate and Master’s degrees in Accounting as well as becoming a Certified Public Accountant. In 2006, he set the record for the most number of miles ridden on a motorcycle in one month – almost 33,000 miles. He did this to raise awareness and raise money for organ and blood donations.

Folwell believes that this ride is important and critical as well. Many in North Carolina do not know the importance of the N.C. Treasurer to the economic well-being of the state. The N.C. Treasurer manages the state’s $100 billion pension and healthcare plans for state employees and retirees including teachers, law enforcement and fire fighters. The pension plan is underfunded, in part, because it has not earned, on average, its projected 7.25 percent rate-of-return rate in 15 years. Just last year it earned less than one percent while paying almost $600 million in fees to Wall Street bankers and lawyers.

“The issues facing the treasurer’s office are not east or west, Republican or Democrat, but mathematics,” said Folwell. “The state pension and health plan should be run for the benefit of North Carolinians – not Wall Street Bankers. I intend to bring that message to citizens across the state.”

Mr. Folwell will visit the county seat, meet with local sheriffs and others then proceed to the next county. Media advisories will be released to let local media know where he will be and when.

“With all that is going on at the national level, I think this is a good way for me to cut through the noise and bring my message directly to the people of North Carolina,” said Folwell. “They need to know that I will be the treasurer for Main Street, not Wall Street.”

Mr. Folwell has pledged to cut Wall Street fees by $100 million as well as freeze family healthcare premiums for state employees. In addition, he said he would never accept outside paid compensation as the next N.C. Treasurer.

Fowell will begin the ride today in Greensboro and finish Monday, November 7 in Winston-Salem.

About Dale Folwell

Dale Folwell was a four-term member of the N.C. House of Representatives, including two years as Speaker Pro Tempore. During that time, he sponsored 29 major pieces of legislation enacted with bi-partisan support. More recently, he was assistant secretary of commerce with the Employment Security Commission, where he took the most “broke and broken” unemployment system in the United States and turned it into national leader in debt-repayment, quality and customer service. He is a Certified Public Accountant (CPA) with a Masters in Accounting. Married for 28 years with three children, he lives in Winston-Salem.   

 

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