Loading

44°F

45°F

46°F

44°F

43°F

47°F

46°F

51°F

45°F

47°F

51°F

46°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

MADISON - Republican lawmakers announced Wednesday that a new Milwaukee Bucks arena and prevailing wage proposal would be removed from the state budget.

+ Read More

MADISON - Gov. Scott Walker has signed a bill to end Wisconsin's classroom SAGE program.

+ Read More

MADISON - Republicans who control the state Assembly plan to vote on the state budget next week along with a bill that would repeal prevailing wage requirements for local governments.

+ Read More

MADISON - Married couples would benefit the most under a Republican-authored tax plan that's to be added to the state budget on Thursday.

+ Read More

Play Video

MERRILL - You can get a free cab ride when you've had too much to drink at many Northwoods bars.

It's part of the SafeRide Home Program, funded mainly by the tavern league.

About 150 people use the SafeRide Home program every month in Lincoln County.

The program's success could be one reason it will get less money from state grants.

+ Read More

Play Video

NORTHWOODS - A dog in Wausau died Tuesday after being locked in a car for two hours. Police say the dog had a heat stroke.

Veterinarians say dogs can overheat even if the windows are rolled down. That's because dogs are naturally warmer than humans and different breeds have hair or fur that might make the dog even hotter.

+ Read More

Play Video

LINCOLN COUNTY - A mother and her son will need to look for a temporary home.

A fire destroyed part of their home early Wednesday morning near Heafford Junction in Lincoln County. They weren't hurt.

+ Read More
+ More General News
Search: 




Click Here