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State pension fund group rejects WEDC investment requestSubmitted: 02/04/2013
State pension fund group rejects WEDC investment request
Story By The Associated Press

MADISON - The board that oversees Wisconsin's pension funds has rejected a request from the head of Gov. Scott Walker's semi-private economic development agency to invest $200 million to help startup businesses.

Wisconsin Economic Development Corp. head Reed Hall asked the State of Wisconsin Investment Board in November for the venture capital seed money in November. The board rejected the request, saying that the use of pension funds to pay for economic development initiatives "does not meet our fiduciary duty."

The request for funding as well as SWIB's response is contained in a report submitted by SWIB in December. The Wisconsin Reporter website was the first to report on it.

Hall made the request when he was the interim head of WEDC. Last week Walker named him as the permanent head.



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 IN OTHER NEWS
What We're Working OnSubmitted: 04/23/2018

- Tonight on Newswatch 12:

Newswatch 12's Allie Herrera is in Washington D.C. with veterans from all over northcentral Wisconsin to see memorials meant to honor their service. Tonight she will bring you a preview of stories she will be covering all this week from Washington on the veterans' trip.

We'll update you on the situation with Chronic Wasting Disease after a deer in Oneida County tested positive.

And just over a week ago the roof of Hanson's Garden Village in Rhinelander which stores thousands of flowers collapsed in a snowstorm. We'll take you there and bring you an update on how their moving forward and what changes they'll make in the future.

We'll bring you all this and more tonight on Newswatch 12 - news from where you live.

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EAGLE RIVER - When you grab a bowl out of your cupboard, it probably came from a big box store.

You won't find those at The Warehouse Art Center in Eagle River.

These are hand-thrown bowls made right in the ceramic studio.

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LINCOLN COUNTY - Police in Lincoln County caught a woman driving the wrong way on Highway 51 near Irma.

People calling on cell phones reported the wrong way driver around 11:00 p.m. Saturday.

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MILWAUKEE - Students willing to spend the summer on a Harley could ride off with a free motorcycle.

Harley-Davidson is making the offer for those who join its summer internship program.

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NASHVILLE, TN - A federal official says the father of the man suspected of fatally shooting four at a Nashville Waffle House could face charges for returning guns that were taken from him after an incident last year at the White House.

Bureau of Alcohol, Tobacco, Firearms and Explosives Special Agent Marcus Watson said at a news conference Monday that Jeffrey Reinking's act of returning the guns to his son is "potentially a violation of federal law."

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MADISON (AP) - A former driver for House Speaker Paul Ryan who has been active in Wisconsin Republican politics for years is running to succeed Ryan in Congress.

Bryan Steil is an attorney from Ryan's hometown of Janesville and a member of the University of Wisconsin Board of Regents. He becomes the likely Republican front-runner after the field of better-known potential candidates cleared for his entry.

Steil entered the race Sunday less than two weeks after Ryan said he would not seek re-election. Ryan said Friday he has no immediate plans to endorse in the primary.

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RHINELANDER - All That Glitters opened for the first time this weekend in Rhinelander.
The store gives customers a chance to experience another culture.
Melody Majcherek decided to open the store after developing a love for henna and practicing at art fairs.
She said it took her two months to transform the store into a unique outlet.
"I wanted to create a space where people can walk in and feel like they have traveled to a different place and oasis. I think I accomplished that," said Majcherek.
People can buy henna tattoos products and other trinkets.
She incorporated cultures from India and Morocco by buying fabrics and products from there.
"Very unique with the different cultures. It's interesting, something different in Rhinelander. Something you don't see all the time," said shopper Chris Albrent.
The store is open Tuesdays through Sundays and is on Kemp Street.

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