Thursday, July 24, 2008

Carolyn Smith of SEDC out

Voice of San Diego
July 24, 2008

...Carolyn Y. Smith, the embattled president of the Southeastern Economic Development Corp., was forced out of the office she has held for more than 14 years by a unanimous decision of her board Wednesday night.

In a nearly six-hour board meeting that drew dozens of community members and many supporters of Smith, the SEDC trustees ultimately decided to grant Smith a severance package of $100,350 and to bring an end to a tenure that, while supported by some in the community, has been marred by scandal of late.

Smith has been at the center of a maelstrom of publicity since a story two weeks ago revealed a system of hidden bonuses and extra compensation under which she has paid herself and her staff more than $1 million over the last five years...

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