“… At one point, Sadhana Shenoy, the new chair of the PERS Board, jokingly asked whether Preppernau had any more optimistic slides in his presentation. He didn’t have much, and at the end of the meeting Shenoy gestured at the overhead screen and told the crowd, 'We have to get rid of this first, and then I can say ‘Merry Christmas and happy holidays.'"