Loading

50°F

52°F

52°F

47°F

53°F

53°F

52°F

52°F

53°F

52°F

52°F

52°F
Search
NEWS STORIES

State pension fund group rejects WEDC investment requestSubmitted: 02/04/2013
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.



Text Size: + Increase | Decrease -
Print Story | Email Story
Sponsored in part by HodagSports.com





 IN OTHER NEWS

Play Video

WISCONSIN - Bag limits for panfish could change on about 95 Wisconsin lakes. The majority of those lakes are in Northern Wisconsin.

+ Read More

Play Video

MINOCQUA - The run raises money for the Kiwanis Autism Project.

The project supports six local schools by giving iPads to children with Autism.

Some of the children were presented with iPads this weekend.

"This event started with a Kiwanis governor who started an autism program, because his grandchild had autism, and he realized the power of the iPad, and how effective it could be for any kid with autism," said Race Director Dan Brunette.

+ Read More

Play Video

EAGLE RIVER - As the weather warms up, some trails in the Northwoods need to be groomed to prepare for the summer season.

+ Read More

WISCONSIN - The number of organ donors in Wisconsin has increased since re-launching the state's donor registry in 2010.

+ Read More

NEPAL - A second Wisconsin man who went to climb Mount Everest survived an avalanche caused by the earthquake in Nepal.

+ Read More

Play Video

RHINELANDER - People in the Northwoods got the chance to try a variety of beer, wine, and food on Saturday.

Hodag Hops and Vines was held in Rhinelander.

There were many different breweries from Wisconsin and the Midwest at the event.

The Rhinelander Area Chamber of Commerce relies on volunteers to help with the event.

+ Read More

NEPAL - A Wisconsin man who traveled to Nepal to climb Mount Everest survived the earthquake that hit the country Saturday.

+ Read More
+ More General News
Search: 




Click Here