Monday, June 27, 2005

Bagels funded from Ohio vault with no Lox

My apologies, but I had to do it. The Toledo Blade has a story on more deplorable investments by the Ohio Workmans Compensation Fund. You wondered how could it get? This bad.
Risky investments by the Ohio Bureau of Workers' Compensation didn't end with rare coins and a Bermuda hedge fund. Add bagels to the list.

Bureau officials have more than $346 million in venture capital funds, which typically provide start-up financing or loans to firms that have had trouble borrowing from conventional sources.

While nontraditional investments are designed to offset lackluster returns from the stock and bond markets, the bureau recorded a 15 percent loss from those picks as of late May.
No bout a doubt it, Ohio needs to clean house.

Comments:

Post a Comment

Subscribe to Post Comments [Atom]





<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]